----

----

| Delaware                                            |   | 76-0600966                                |
|-----------------------------------------------------|--------|-------------------------------------------|
| (State      of other jurisdiction of incorporation) |   | (I.R.S.      Employer Identification No.) |
|                                                |   |                                      |
| 524      East Weddell DriveSunnyvale,      CA       |   | 94089                                     |
| (Address      of Principal Executive Office)        |   | (Zip      Code)                           |

----

| Item          |                                                                                                                                 | Page   |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------|--------|
| Part      I   |                                                                                                                                 |   |
| Item      1.  | Business                                                                                                                             |   |
| Item      2.  | Property                                                                                                                             |   |
| Item      3.  | Legal      Proceedings                                                                                                               |   |
| Item      4.  | Submission      of Matters to a Vote of Security Holders                                                                             |   |
| Part      II  |                                                                                                                                 |   |
| Item      5.  | Market      for Common Equity, Related Stockholder Matters and Small Business Issuer      Purchases of Equity Securities             |   |
| Item      6.  | Management's      Discussion and Analysis                                                                                            |   |
| Item      7.  | Financial      Statements and Supplementary Data                                                                                     |   |
|          | Reports      of Independent Registered Public Accounting Firms                                                                       |   |
|          | Consolidated      Financial Statements:                                                                                              |   |
|          | Consolidated      Balance Sheet at December 31, 2007 and 2006 (As restated)                                                          |   |
|          | Consolidated      Statements of Operations for the Years Ended December 31, 2007 and      December 31, 2006 ( As restated)           |   |
|          | Consolidated      Statements of Cash Flows for the Years Ended December 31, 2007 and      December 31, 2006 (As restated)            |   |
|          | Consolidated      Statements of Stockholder's Deficit for the Years Ended December 31, 2007      and December 31, 2006 (As restated) |   |
|          | Notes      to Consolidated Financial Statements                                                                                      |   |
| Item      8.  | Changes      in and Disagreements with Accountants on Accounting and Financial      Disclosure                                       |   |
| Item      8A. | Controls      and Procedures                                                                                                         |   |
| Part      III |                                                                                                                                 |   |
| Item      9.  | Directors      and Executive Officers of the Registrant                                                                              |   |
| Item      10. | Executive      Compensation                                                                                                          |   |
| Item      11. | Security      Ownership of Certain Beneficial Owners and                                                                             |   |
|          | Management      and Related Stockholder Matters                                                                                      |   |
| Item      12. | Certain      Relationships and Related Transactions                                                                                  |   |
| Item      13. | Exhibits,      List and Reports on Form 8-K                                                                                          |   |
| Item      14. | Principal      Accountant Fees and Services                                                                                          |   |

| Signatures |   |   |
|------------|--------|--------|

----

----

----

| Glass      Slides                             | Corning,      Schott                       | Trade      Secret  | 20%            |
|-----------------------------------------------|--------------------------------------------|--------------------|----------------|
| Print      Head and Needles                   | NONE                                       | Patented           | 35%            |
| Array      Machine and Instrumentation        | Genetix,      Harvard BioScience (Digilab) | Trade      Secret  | 10      to 20% |
| Chemicals      and Reagents                   | Qiagen,      Stratagene, Invitrogen        | Trade      Secret  | 10%            |
| Instrumentation      Hardware and Accessories | NONE                                       | Trade      Secrets | 10      to 20% |

----

 

  TeleChem presently has eightemployees.

----

Civil Action number 01-2226 between TeleChem International, Inc.,Pediatrix Screening, Inc. and Pediatrix Screening LP went to jury trial in theUnited States District Court in the Western District of Pennsylvania in thesummer of 2007.  The jury awarded TeleChem $5 million in damages forPediatrix's breach of contract, fraudulent misrepresentation, and punitivedamages.  The jury awarded Pediatrix $1,085,001 for TeleChem's breachof contract.  Pediatrix appealed the jury's decision, and requestedthat the damages award to TeleChem be reduced.  This appeal wasdenied.  Pediatrix put $5 million in bond, and submitted an appeal tothe Third Circuit Court of Appeals to request that the damages award to TeleChembe reduced.  The parties await the Third Circuit Court'sresponse.

----

| Fiscal      Year | Quarter      Ended      | High  | Low   |
|------------------|-------------------------|-------|-------|
| 2006             | March      31, 2006*    | $2.20 | $0.25 |
|             | June      30, 2006      | $2.09 | $0.30 |
|             | September      30, 2006 | $1.30 | $0.36 |
|             | December      31, 2006  | $0.65 | $0.35 |
| 2007             | March      31, 2007*    | $0.31 | $0.10 |
|             | June      30, 2007      | $0.15 | $0.03 |
|             | September      30, 2007 | $0.11 | $0.01 |
|             | December      31, 2007  | $0.02 | $0.01 |

----

----

Recent Developments

----

----

Impairmentof Long- lived assets and Goodwill

----

RiskFactors

----

----

| ·   | cease      selling or using any of our products that incorporate the challenged      intellectual property, which would adversely affect our revenue; obtain a      license from and/or make royalty payments to the holder of the      intellectual property right alleged to have been infringed, which license      may not be available on reasonable terms, if at  all; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | divert      management's attention from ourbusiness; |
|--------------------|------------------------------------------------------|

| ·   | redesign      or, in the case of trademark claims, rename our products or services to      avoid infringing the intellectual property rights of third parties, which      may not be possible and in any event could be costly and      time-consuming. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Even      if we were to prevail, such claims or litigation could be time-consuming      and expensive to prosecute or defend, and could result in the diversion of      our management's time and attention. These expenses and diversion of      managerial resources could have a material adverse effect on our business,      prospects, financial condition, and results of  operations. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changing      regulatory requirements; |
|--------------------|----------------------------------------|

| ·   | fluctuations      in the exchange rate for the United States  dollar; |
|--------------------|-----------------------------------------------------------------------|

| ·   | the      availability of export licenses; |
|--------------------|-------------------------------------------|

| ·   | potentially      adverse tax consequences; |
|--------------------|--------------------------------------------|

| ·   | political      and economic instability; |
|--------------------|------------------------------------------|

| ·   | changes      in diplomatic and traderelationships; |
|--------------------|----------------------------------------------------|

| ·   | difficulties      in staffing and managing foreign operations, tariffs and other trade      barriers; |
|--------------------|-------------------------------------------------------------------------------------------------------|

----

| ·   | complex      foreign laws and treaties; |
|--------------------|-----------------------------------------|

| ·   | changing      economic conditions; |
|--------------------|------------------------------------|

| ·   | difficulty      of collecting foreign accountreceivables; |
|--------------------|-----------------------------------------------------------|

| ·   | exposure      to different legal standards, particularly with respect to intellectual      property and distribution ofproducts; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | we      may be required to pay principal and other charges on the promissory notes      when due and we pay interest semi-annually in arrears beginning June 30,      2005; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | while      the promissory notes are outstanding, if we issue equity or equity linked      securities at a price lower than the conversion price then the conversion      price of the promissory notes will be reduced to the same price. If we      issue any variable priced equity securities or variable price equity      linked securities, then the conversion price of the promissory notes will      be reduced to the lowest issue price applied to those      securities; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we      keep reserved out of our authorized shares of common stock sufficient      shares to satisfy our obligation to issue shares on conversion of the      promissory notes and the exercise of the related warrants and other      investment rights issued in connection with the sale of the promissory      notes; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we      did not achieve revenues of at least $4,000,000 for calendar year 2005,      therefore the conversion price of the promissory notes were to be adjusted      to 85% of the volume weighted average closing market price of the common      stock on the over-the-counter bulletin board for the 20 trading days prior      to six-month anniversary of the release of the calendar 2005 financial      statements, but in no event higher than the initial conversion price of      $.892. The holders agreed on February 22, 2006 to accept a maximum      conversion price of $4.00 (adjusted for reverse split) until October 22,      2008. On October 23, 2006, the conversion price adjusted to $0.38. The      conversion price is also subject to adjustment upon the occurrence of      certain specified events, including stock dividends and stock splits, pro      rata distributions of equity securities, evidences of indebtedness, rights      or warrants to purchase common stock or cash or any other asset, mergers      or consolidations, or certain issuances of common stock at a price below      the initial conversion price of $0.38 per share, subject to adjustment as      set forth above; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we      shall not, directly or indirectly, (i) redeem, purchase or otherwise      acquire any capital stock or set aside any monies for such a redemption,      purchase or other acquisition or (ii) issue any floating price security      with a floor price below the conversionprice. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| ·   | variations      in our operating results; |
|--------------------|-------------------------------------------|

| ·   | announcements      of technological innovations or new services by us or our      competitors; |
|--------------------|------------------------------------------------------------------------------------------------|

| ·   | changes      in expectations of our future financial performance, including financial      estimates by securities analysts andinvestors; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | our      failure to meet analysts'expectations; |
|--------------------|-------------------------------------------------|

| ·   | changes      in operating and stock price performance of other technology companies      similar to us; |
|--------------------|---------------------------------------------------------------------------------------------------------|

| ·   | conditions      or trends in the technologyindustry; |
|--------------------|------------------------------------------------------|

| ·   | additions      or departures of key personnel; and |
|--------------------|----------------------------------------------------|

----

| ·   | future      sales of our common stock. |
|--------------------|----------------------------------------|

Domestic and international stock markets oftenexperience significant price and volume fluctuations that are unrelated to theoperating performance of companies with securities trading in those markets.These fluctuations, as well as political events, terrorist attacks, threatenedor actual war, and general economic conditions unrelated to our performance, mayadversely affect the price of our common stock. In the past, securities holdersof other companies often have initiated securities class action litigationagainst those companies following periods of volatility in the market price ofthose companies' securities. If the market price of our stock fluctuates and ourstockholders initiate this type of litigation, we could incur substantial costsand experience a diversion of our management's attention and resources,regardless of the outcome. This could materially and adversely affect ourbusiness, prospects, financial condition, and results ofoperations.

ITEM 7. FINANCIAL STATEMENTS AND SUPPLEMENTARYDATA

|                                                                                                                                 |   |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|
| REPORTS      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS                                                                       |   |
| CONSOLIDATED      FINANCIAL STATEMENTS:                                                                                              |   |
| Consolidated      Balance Sheets at December 31, 2007 and 2006 (As restated)                                                         |   |
| Consolidated      Statements of Operations for the years ended December 31, 2007 and      December 31, 2006(As restated)             |   |
| Consolidated      Statements of Stockholders' Deficit for the years ended December 31, 2007      and December 31, 2006 (As restated) |   |
| Consolidated      Statements of Cash Flows for the years ended December 31, 2007 and      December 31, 2006(As restated)             |   |
| NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS                                                                                      |   |

----

----

INTEGRATED MEDIA HOLDINGS, INC.

|                                             |                                                                                                                                                         | December      31,                                |
|--------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------|
|                                             |                                                                                                                                                         | 2007                                             |   | 2006 |
| Assets                                           |                                                                                                                                                         |                                             | (As      Restated) |
|                                             |                                                                                                                                                         |                                             |   |   |
| Current      assets:                             |                                                                                                                                                         |                                             |   |
|                                             | Cash                                                                                                                                                         | $      -                                    |   | $     1,382 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Total      current assets                                                                                                                                    | -                                           |   | 1,382 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Other      Assets                                                                                                                                            |                                             |   | 10,000 |
|                                             | Assets      of Discontinued Operations (Note 6)                                                                                                              |        247,945                              |   | 1,865,109 |
|                                             | Goodwill                                                                                                                                                     |                                             |   |   |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Total      assets                                                                                                                                            | 247,945                                     |   | $      1,876,491 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             |                                                                                                                                                         |                                             |   |   |
| Liabilities      and Stockholders' Deficit       |                                                                                                                                                         |                                             |   |
|                                             |                                                                                                                                                         |                                             |   |   |
| Current      liabilities:                        |                                                                                                                                                         |                                             |   |
|                                             | Accounts      payable                                                                                                                                        | $       5,044 |   | $  136,061 |
|                                             | Accrued      interest                                                                                                                                        | 850,462                                          |   | 560,179 |
|                                             | Derivative      liability                                                                                                                                    | 226,545                                          |   | 950,865 |
|                                             | Notes      payable including related parties, net of discount of $0 and $103,459,      respectively                                                          |  2,152,724                                  |   |  3,222,515 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Total      current liabilities                                                                                                                               | 3,234,775                                        |   | 4,869,620 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Liabilities      of Discontinued Operations (Note 6)                                                                                                         | 1,463,741                                        |   | 2,975,058 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Total      liabilities                                                                                                                                       | 4,450,796                                        |   | 7,844,678 |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             |                                                                                                                                                         |                                             |   |   |
| Stockholders'      deficit                       |                                                                                                                                                         |                                             |   |
|                                             | Preferred      stock, $.001 par value; 4,600,000 shares authorized, 3,810,262 and      2,921,749  shares issued and outstanding,      respectively | 3,810                                            |   | 2,884 |
|                                             | Common      stock, $.001 par value, voting, 100,000,000 shares authorized, 16,419,262      and 16,368,710 shares issued and outstanding, respectively        | 16,419                                           |   | 16,369 |
|                                             | Additional      paid-in capital                                                                                                                              | 32,779,304                                       |   | 31,832,986 |
|                                             | Accumulated      deficit                                                                                                                                     | (37,250,329)                                     |   | (37,820,426) |
|                                             |                                                                                                                                                         |                                             |   |   |
|                                             | Total      stockholders' deficit                                                                                                                             | (4,450,796)                                      |   | (5,968,187) |
|                                             |                                                                                                                                                         |                                             |   |   |
| Total      liabilities and stockholders' deficit | $          247,945                                                                                         |                                             | $      1,876,491 |

----

|                                                                                       |   | Years      Ended December 31                                                     |
|--------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------|
|                                                                                       |   | 2007                                                                             |   | 2006(As      Restated) |
| Total      revenues                                                                        |   | $            -  |   | $     - |
| Cost      of sales                                                                         |   | -                                                                           |   | - |
| Selling,      general, and administrative expense                                          |   | (2,295,025)                                                                 |   | (1,845,965) |
|                                                                                       |   |                                                                             |   |   |
| Loss      from  continuing operations before other income      (expense)         |   | (2,295,025)                                                                      |   | (1,845,965) |
|                                                                                       |   |                                                                             |   |   |
| Other      income (expense):                                                               |   |                                                                             |   |   |
| Gain      on derivative liability                                                          |   | 724,320                                                                          |   | 532,603  |
| Gain      on sale of subsidiary                                                            |   | 3,510,458                                                                        |   | - |
| Interest      expense                                                                      |   | (574,696)                                                                        |   | (917,404) |
|                                                                                       |   |                                                                             |   |   |
| Income      (loss) from continuing operations                                              |   |  1,365,057                                                                  |   | (2,230,766) |
|  Loss      from discontinued operations                                               |   | (794,960)                                                                        |   | (14,101,396) |
|  Net      income (loss)                                                               |   | 570,097                                                                          |   | (16,332,162) |
|                                                                                       |   |                                                                             |   |   |
| Deemed      dividend on preferred stock                                                    |   |                                                                             |   | (1,072,992) |
|                                                                                       |   |                                                                             |   |   |
| Net      income (loss) attributable to common shareholders from continuing      operations |   | $        570,097                    |   | $      (17,405,154) |
|                                                                                       |   |                                                                             |   |   |
|                                                                                       |   |                                                                             |   |   |
| Weighted      average shares outstanding, basic and diluted                                |   | 15,850,802                                                                       |   | 9,041,961 |
|      Continuing      Operations                                   |   | $      0.09                                                                      |   | $      (0.25) |
|      Discontinued      Operations                                 |   | (0.05)                                                                           |   | (1.56) |
|                                                                                       |   | $      0.04                                                                      |   | $      (1.81) |
|                                                                                       |   |                                                                             |   |   |

INTEGRATED MEDIA HOLDINGS,INC.

|                                                                                              |   | Preferred      Stock |   | Common      Stock |   |
|---------------------------------------------------------------------------------------------------|--------|----------------------|--------|-------------------|--------|
|                                                                                              |   | Shares               |   | Amount            |   |   | Shares |   | Amount |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Balance      January 1, 2006                                                                      |   | 3,821,197            |   | $      3,821      |   |   | 21,259,300 |   | $      21,259 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Issuance      of common stock for:                                                                |   |                 |   |              |   |   |   |   |   |   |
| Cash      (common stock purchase or purchase warrant exercise)                                    |   | -                    |   | -                 |   |   | 4,177,000 |   | 4,177 |   |
| Services                                                                                          |   | -                    |   | -                 |   |   | 7,684,800 |   | 7,685 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Conversion      of notes payable and interest to common stock                                     |   | -                    |   | -                 |   |   | 11,988,290 |   | 11,988 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Stock      issued for compensation                                                                |   | -                    |   | -                 |   |   | - |   | - |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Stock      issued to acquire operating assets of WV Fiber, LLC                                    |   | 990,116              |   | 990               |   |   | 4,055,450 |   | 4,055 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Stock      issued to acquire BidChaser ownership.                                                 |   | 276,060              |   | 276          |   |   | 2,091,830 |   | 2,092 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Reverse      stock split (40:1)                                                                   |   |                 |   |              |   |   | (35,021,750) |   | (35,000) |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Preferred      stock conversion to common stock                                                   |   | (82,190)             |   | (82)         |   |   | 133,790 |   | 113 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Investor      contribution of Series A Preferred Stock for acquisitions                           |   | (2,121,066)          |   | (2,121)           |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Net      loss                                                                                     |   |                 |   |              |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Balance      December 31, 2006                                                                    |   | 2,884,117            |   | $      2,884      |   |   | 16,368,710 |   | $      16,369 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Issuance      of common stock for services                                                        |   |                 |   |              |   |   | 360,994 |   | 361 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Issuance      of common stock for unpaid rent of subsidiary                                       |   |                 |   |              |   |   | 30,345 |   | 30 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Settlement      of unpaid note interest by issuance of common stock                               |   |                 |   |              |   |   | 951,283 |   | 951 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Conversion      of notes to common stock                                                          |   |                 |   |              |   |   | 1,439,438 |   | 1,440 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Surrender      for cancellation of common stock on disposal of WV Fiber                           |   |                 |   |              |   |   | (3,246,000) |   | (3,246) |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Common      stock issued for cash                                                                 |   |                 |   |              |   |   | 514,482 |   | 514 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Preferred      shares issued for consulting services                                              |   | 112,651              |   | 113               |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Re-acquisition      of Series A Preferred Shares on disposal of WV Fiber                          |   | (646,774)            |   | (647)             |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Re-issuance      of Series A Preferred Stock previously contributed for acquisitions in      2006 |   | 1,460,268            |   | 1,460             |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Net      loss                                                                                     |   |                 |   |              |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
| Balance      December 31, 2007                                                                    |   | 3,810,262            |   | $      3,810      |   |   | 16,419,262 |   | $      16,419 |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |
|                                                                                              |   |                 |   |              |   |   |   |   |   |   |

|                                                                                              |   | Additional      Paid-in Capital |   | Deferred      Compensation |   | Subscriptions      Receivable |   | Accumulated      Deficit |
|---------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|----------------------------|--------|-------------------------------|--------|--------------------------|
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Balance      December 31, 2005                                                                    |   | $16,339,567                     |   | $      -                   |   | $      -                      |   | $(21,488,264)            |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Issuance      of common stock for:                                                                |   |                            |   |                       |   |                          |   |                     |
| Cash      (common stock purchase or purchase warrant exercise)                                    |   | 1,206,000                       |   | -                          |   | -                             |   | -                        |
| Services                                                                                          |   | 1,325,000                       |   | -                          |   | -                             |   | -                        |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Conversion      of notes payable and interest to common stock                                     |   | 967,000                         |   | -                          |   | -                             |   | -                        |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Stock      issued for compensation                                                                |   | 1,430,904                       |   | -                          |   | -                             |   | -                        |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Stock      issued to acquire operating assets of WV Fiber, LLC                                    |   | 8,538,110                       |   | -                          |   | -                             |   | -                        |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Stock      issued to acquire BidChaser ownership.                                                 |   | 1,989,285                       |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Reverse      stock split (1:40)                                                                   |   | 35,000                          |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Preferred      stock conversion to common stock                                                   |   |                            |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Deemed      dividend on preferred shares                                                          |   | (1,072,992)                     |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Discount      on preferred shares associated with deemed dividend                                 |   | 1,072,992                       |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Investor      contribution of Series A Preferred Stock for acquisitions                           |   | 2,121                           |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Net      loss                                                                                     |   |                            |   |                       |   |                          |   | (16,332,162)             |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Balance      December 31, 2006                                                                    |   | $31,832,986                     |   | $      -                   |   | $      -                      |   | $(37,820,426)            |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Issuance      of common stock for services                                                        |   | 52,139                          |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Stock      issued for compensation                                                                |   | 784,615                         |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Issuance      of common stock for unpaid rent of subsidiary                                       |   | 4,370                           |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Settlement      of unpaid note interest by issuance of common stock                               |   | 51,750                          |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Conversion      of notes to common stock                                                          |   | 48,560                          |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Surrender      for cancellation of common stock on disposal of WV Fiber                           |   | (486,900)                       |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Common      stock issued for cash                                                                 |   | 106,893                         |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Preferred      shares issued for consulting services                                              |   | 208,687                         |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Re-acquisition      of Series A Preferred Shares on disposal of WV Fiber                          |   | (930,708)                       |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Re-issuance      of Series A Preferred Stock previously contributed for acquisitions in      2006 |   | 1,106,912                       |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Net      loss                                                                                     |   |                            |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
| Balance      December 31, 2007                                                                    |   | $  32,779,304         |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |
|                                                                                              |   |                            |   |                       |   |                          |   |                     |

----

|                                                                                  |   | Years      Ended December 31,                            |
|---------------------------------------------------------------------------------------|--------|----------------------------------------------------------|
|                                                                                  |   | 2007                                                |   | 2006(Restated) |
| Cash      flows from operating activities:                                            |   |                                                     |   |   |
| Net      income (loss)                                                                |   | 570,097                                                  |   | $      (16,332,162) |
| Adjustments      to reconcile net loss to net cash used in operating      activities: |   |                                                     |   |   |
| Stock      and options issued for services                                            |   | 1,045,915                                                |   | 2,763,589 |
| Amortization      of discount on notes payable                                        |   | 103,459                                                  |   | 712,500 |
| Interest      expense converted to equity or debt                                     |   | 471,237                                                  |   | 204,904 |
| Gains      on derivative liability                                                    |   | (724,320)                                                |   | (532,603) |
| Gains      on sale of subsidiary                                                      |   | (3,510,458)                                              |   | -  |
| Decrease      (increase) in:                                                          |   |                                                     |   |   |
| Other      assets                                                                     |   | 10,000                                                   |   | -  |
| Increase      (decrease) in:                                                          |   |                                                     |   |   |
| Accounts      payable                                                                 |   | (131,017)                                                |   | 242,057  |
|                                                                                  |   |                                                     |   |   |
| Net      cash used by operating activities before discontinued      operations        |   | (2,165,087)                                              |   | (12,941,715) |
| Net      cash provided by discontinued operations                                     |   | 2,056,087                                                |   | 10,494,900 |
| Net      cash used by operating activities                                            |   | (108,785)                                                |   | (2,446,815) |
|                                                                                  |   |                                                     |   |   |
| Cash      flows used in investing activities                                          |   |                                                     |   |   |
| Purchases      of property and equipment                                              |   |                                                     |   |   |
| Purchase      of business assets                                                      |   |                                                     |   |   |
| Additions      to security deposits                                                   |   |                                                     |   |   |
|                                                                                  |   |                                                     |   |   |
| Net      cash provided by investing activities                                        |   | -                                                   |   | -  |
|                                                                                  |   |                                                     |   |   |
| Net      increase (decrease) in cash and cash equivalents                             |   | (1,382)                                                  |   | (3,741) |
|                                                                                  |   |                                                     |   |   |
| Cash      and cash equivalents at beginning of period                                 |   | 1,382                                                    |   | 5,123  |
| Cash      and cash equivalents at end of period                                       |   | $        -  |   | $     1,382  |

INTEGRATED MEDIA HOLDINGS, INC.

|                                                                                                                                                                                                                                                                          | As      Initally Reported                                                                                                                               | Adjustment                     |      |  As      Adjusted       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|-----------|------------------------------|
| Consolidated      Income Statement for the year ended December 31, 2006                                                                                                                                                                                                       |                                                                                                                                                    |                           |      |                         |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Total      revenues                                                                                                                                                                                                                                                           | 1,504,000                                                                                                                                               |   (1,504,000)        |  (a) | -                       |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Cost      of sales                                                                                                                                                                                                                                                            |             1,464,000                                                                       | 1,464,000                      |  (a) | -                       |
| Selling,      general, and administrative expense                                                                                                                                                                                                                             |             5,901,000                                                                       | 4,055,035                      |  (b) |    (1,845,965 |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Loss      from operations                                                                                                                                                                                                                                                     |           (5,861,000)                                                                                 | 4,015,035                      |      | (1,845,965                   |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Other      income (expense)                                                                                                                                                                                                                                                   |             1,150,000                                                                       |  (1,150,000)              |  (a) | -                       |
| Gain      on derivative liability                                                                                                                                                                                                                                             |                                                                                                                                                    |    532,603      |  (c) |    532,603    |
| Interest      expense                                                                                                                                                                                                                                                         |           (1,002,000)                                                                                 |   84,596             |  (a) | (917,404)                    |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Loss      from continuing operations                                                                                                                                                                                                                                          |           (5,713,000)                                                                                 | 3,482,234                      |      | (2,230,766)                  |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Loss      from discontinued operations                                                                                                                                                                                                                                        |                          - |    (14,101,396) |  (a) | (14,101,396)                 |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Net      loss                                                                                                                                                                                                                                                                 |           (5,713,000)                                                                                 | (10,619,162)                   |      | (16,332,162)                 |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Deemed      dividend on preferred stock                                                                                                                                                                                                                                       | -                                                                                                                                                  | (1,072,992)                    |  (d) | (1,072,992)                  |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Net      (loss) attributable to common shareholders                                                                                                                                                                                                                           |           (5,713,000)                                                                                 | (11,692,154)                   |      | (17,405,154)                 |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Net      (loss) per common share - basic and diluted                                                                                                                                                                                                                          |  $                  0.63                                 |         (2.44)       |  (e) |        (1.81)           |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| Weighted      average shares - basic and diluted                                                                                                                                                                                                                              |             9,041,961                                                                       |                           |      | 9,041,961               |
|                                                                                                                                                                                                                                                                          |                                                                                                                                                    |                           |      |                         |
| (a)  Change      due to reclass to discontinued operations.  See Note      6.                                                                                                                                                                             |                                                                                                                                                    |                           |      |
| (b)  Change      due to reclass to discontinue operations, correction to reduce stock based      compensation of $1,229,906 in accordance with vesting terms,write-off of      uncollectible receivables of $158,545 and impairment of fixed assets of      $53,908 |
| (      c) To record gain on derivative liability based upon fair values at      December 31, 2006.  See Note 5.                                                                                                                                                     |                                                                                                                                                    |
| (d)      To correct accretion of preferred stock  as a      dividend                                                                                                                                                                                                |                                                                                                                                                    |                           |      |                         |
| (e)  To      reflect basic and diluted earnings per share based upon corrected net      income and weighted average shares                                                                                                                                          |                                                                                                                                                    |                           |

|                                                                                                                                                                                                                          | As      Initially Reported                                                                                                                              | Adjustment                                                                                                                              |      |  As      Adjusted                                                                                                  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|-----------|-------------------------------------------------------------------------------------------------------------------------|
| Consolidated      Balance Sheet as of December 31, 2006                                                                                                                                                                       |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Assets                                                                                                                                                                                                                        |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Current      assets:                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Cash                                                                                                                                                                                                                          |                  16,000                                            |                (14,618)                                      |  (a) |    1,382                                                                                                 |
| Accounts      receivable, net of allowance for doubtful accounts                                                                                                                                                              |                608,000                                                       |              (608,000)                                                 |  (b) |          -                                                                 |
| Prepaid      Expenses                                                                                                                                                                                                         |                    4,000                                 |                  (4,000)                           |  (a) |          -                                                                 |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Total      current assets                                                                                                                                                                                                     |                628,000                                                       |              (626,618)                                                 |      |   1,382                                                                                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Property      and equipment                                                                                                                                                                                                   |             1,182,000                                                                       |           (1,182,000)                                                                 |  (c) |       -                                                                                   |
| Other      assets                                                                                                                                                                                                             |                  66,000                                            |                (56,000)                                      |  (a) |    10,000                                                                                                |
| Goodwill                                                                                                                                                                                                                      |             3,142,000                                                                       |             9,023,446                                                       |  (d) |        -                                                                             |
|                                                                                                                                                                                                                          |                                                                                                                                                    |         (12,165,446)                                                                            |  (d) |                                                                                                                    |
| Assets      of discontinued operations                                                                                                                                                                                        |                          - |             1,865,109                                                       |  (a) | 1,865,109                                                                                                               |
| Total      assets                                                                                                                                                                                                             |             5,018,000                                                                       |           (3,141,509)                                                                 |      |             1,876,491                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Liabilities      and Stockholders' Deficit                                                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Current      liabilities:                                                                                                                                                                                                     |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Accounts      payable                                                                                                                                                                                                         |             1,388,000                                                                       |           (1,251,939)                                                                 |  (e) |   136,061                                                                                                     |
| Accrued      liabilities                                                                                                                                                                                                      |             1,050,000                                                                       |              (489,821)                                                 |  (e) |     560,179                                                                                         |
| Derivative      liability                                                                                                                                                                                                     |                          - |                950,865                                       |  (f) |   950,865                                                                                                     |
| Notes      payable including related parties                                                                                                                                                                                  |             2,922,000                                                                       |             1,315,685                                                       |  (g) |     3,222,515                                                                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |           (1,021,003)                                                                 |  (e) |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                    5,833                 | (o)       |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Total      current liabilities                                                                                                                                                                                                |             5,360,000                                                                       |              (490,380)                                                 |      |             4,869,620                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Liabilities      of discontinued operations                                                                                                                                                                                   |                          - |             2,975,058                                                       |  (e) |             2,975,058                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Total      liabilities                                                                                                                                                                                                        |             5,360,000                                                                       |             2,484,678                                                       |      |             7,844,678                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Stockholders'      deficit                                                                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Preferred      stock                                                                                                                                                                                                          |                    3,000                                 |                     (116)           |  (h) |                    2,884 |
| Common      stock                                                                                                                                                                                                             |                  16,000                                            |                       369 |  (i) |                  16,369            |
| Additional      paid-in capital                                                                                                                                                                                               |           26,512,000                                                                                  |           (1,425,000)                                                                 |  (j) | 31,832,986                                                                                                              |
|                                                                                                                                                                                                                          |                                                                                                                                                    |           (1,315,685)                                                                 |  (k) |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    |             1,495,337                                                       |  (l) |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    |             7,528,109                                                       |  (l) |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    |       266,953                                                                                             |  (m) |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    | 368                                                                                                                                     |  (n) |                                                                                                                    |
|                                                                                                                                                                                                                          |                                                                                                                                                    | (1,229,096)                                                                                                                             | (p)       |                                                                                                                    |
| Accumulated      deficit                                                                                                                                                                                                      |         (26,873,000)                                                                                            | (10,947,426)                                                                                                                            |      |          (37,820,426)                                                      |
| Total      stockholders' deficit                                                                                                                                                                                              |              (342,000)                                                                 |           (5,626,187)                                                                 |      |            (5,968,187)                                           |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| Total      liabilities and stockholders' deficit                                                                                                                                                                              |             5,018,000                                                                       |           (3,141,509)                                                                 |      |             1,876,491                                       |
|                                                                                                                                                                                                                          |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| (a)  Change      due to reclass to assets of discontinued operations.  See Note      6.                                                                                                                   |                                                                                                                                                    |                                                                                                                                    |      |
| (b)  Change      due to reclass to assets of discontinue operations and write-off of      uncollectible receivables of $158,545                                                                                     |
| (c)  Change      due to reclass to assets of discontinue operations and impairment of fixed      assets of $53,908                                                                                                  |
| (d)  Change      due to increase in goodwill resulting from correction of purchase price      noted in (k) and impairment of goodwill of $12,165,446                                                                |
| (e)  Change      due to reclass to liabilities of discontinued operations.  See      Note 6.                                                                                                              |                                                                                                                                                    |                                                                                                                                    |      |
| (f)      To record derivative value for convertible notes and related warrants      based on fair value at December 31, 2006                                                                                                  |                                                                                                                                                    |                                                                                                                                    |
| (g)      See (k)                                                                                                                                                                                                              |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| (h)  To      correct the par value of the Series A Preferred stock                                                                                                                                                  |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| (i)  To      correct the par value of the common stock                                                                                                                                                              |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| (j)  To      reverse the impact of the convertible note balance of $1,425,000 which was      discounted to zero by increasing additional paid in capital in      2005                                               |
| (k)      To reverse the impact of the 2005 and 2006 debt discount amortization from      additional paid in capital to net of notes payable including related      parties(g)                                                 |
| (l)  To      record the increase in purchase price related to WV Fiber and Bidchaser by      $7,528,109 and $1,495,337, respectively due to valuation correction of      preferred stock issued at time of purchase |
|  (m)      To record fair value of warrants exercised                                                                                                                                                                     |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| (n)      To adjust additional paid in capital for changes in par values of common      stock                                                                                                                                  |                                                                                                                                                    |                                                                                                                                    |      |
| (o)      Rounding correction                                                                                                                                                                                                  |                                                                                                                                                    |                                                                                                                                    |      |                                                                                                                    |
| (p)      To record stock based compensation decrease for $1,229,906 in accordance      with vesting terms.                                                                                                                    |                                                                                                                                                    |

| Cash                                                                                                                                                                               | $1,662,500  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|
| 4,055,488      shares of the Company's common stock valued at $0.63                                                                                                                | 2,554,934   |
| 917,486      shares of the Company’s preferred stock convertible into 8,807,857 shares      of the Company's common stock valued at $0.63                                    | 5,548,980   |
| Fees      satisfied by the issuance of 72,626 shares of the Company’s preferred      stock convertible into 697,210shares of the Company's common stock valued      at $0.63 | 439,242     |
| Assumption      of Notes Payable of $850,000                                                                                                                                       | $850,000    |
|                                                                                                                                                                               |        |
|                                                                                                                                                                               | $11,055,655 |

| Current      assets                | $    363,259  |
|------------------------------------|----------------------------------------|
| Property,      plant and equipment | 650,000                           |
| Deposits                           | 29,910                            |
| Total      assets acquired         | 1,043,169                              |
|                               |                                   |
| Current      liabilities           | (75,465)                          |
| Long-term      liabilities         | (850,000)                         |
| Total      liabilities assumed     | (925,465)                         |
| Net      liabilities assumed  | $   117,704        |
|                               |                                   |

| Cash      and short term notes                                                                                                                                                  | $     200,000 |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------|
| Surrender      for cancellation 3,246,000 shares of the Company's common stock valued at      $0.15                                                                             | 486,900                                |
| Surrender      for cancellation 646,744 shares of the Company’s preferred stock      convertible into 6,209,030 shares of the Company's common stock valued at      $0.15 | 931,355                                |
| Assumption      by buyers of loans payable of $1,186,500 and accrued interest thereon of      $128,153                                                                          | 1,314,653                              |
|                                                                                                                                                                            |                                   |
| Total      consideration                                                                                                                                                        | $   2,932,908           |
|                                                                                                                                                                            |                                   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2007                   |    | 2006                   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|---------|------------------------|
| Discounted      convertible notes payable due to SovCap. SovCap is affiliated with an      officer and director of the Company and is a significant stockholder of      the Company. These notes have a face interest rate of 18%. The notes are      unsecured and are due on demand. The notes are convertible at a rate of      75% of the average closing bid price of the Company's common stock for the      five trading days ending on the trading day immediately preceding the      conversion date. During 2007 and 2006, respectively, $50,000 and $195,000      of principal was converted into common stock. |   | $  405,300   |    | $      455,300         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Notes      payable due to SovCap bearing interest at 6% -8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 118,500                |    | 118,500                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Notes      payable due to SovCap, bearing interest at 8% and due on February 22,      2007.  The Company is presently in default of the payments on      these notes, and as a result, the notes are accruing interest at the      default rate of 26%. Balance is net of debt discount of $0 and $103,459 in      2007 and 2006, respectively.                                                                                                                                                                                                                                                                  |   | 1,425,000              |    | 1,321,541              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Note      payable to Dorn & Associates. Payable in 36 monthly installments of      $890 at an interest rate of 5%. The Company is presently in default of the      payment terms on this note, and has classified the entire note balance as      current.                                                                                                                                                                                                                                                                                                                                                             |   | 25,177                 | *  | 25,177                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Convertible      notes due to a former officer and shareholder of the Company, These notes      bear interest at 12%, are unsecured, and due on demand. The Company is      presently in default of the payment terms on these notes. The notes are      convertible into approximately 10,251 shares at approximately $8.00 per      share.                                                                                                                                                                                                                                                                               |   | 74,174                 |    | 74,174                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Notes      payable to an individual with interest at 10% collaterialized by      receivables and due on demand.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 17,826                 | *  | 17,826                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Note      payable to a financial group with interest rate at 12% and due on      demand.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 25,000                 |    | 25,000                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Note      payable to HT Investments LLC issued during asset purchase of WV Fiber      LLC. The note bears no interest and is payable on November 8, 2006,      secured by the assets purchased and placed in our subsidiary, WV Fiber,      Inc. The note is payable in 60% cash and 40% of the note is payable in      Series ! Preferred shares of the Company.  This note was sold as      a part of the sale of WV Fiber, Inc. during 2007.                                                                                                                                                                  |   | -                      |    | 850,000                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Notes      payable to certain individual accredited investors with interest of 15% or      18% per annum and are payable on demand after 180 days from the issue date      . Notes are convertible into units of common stock and warrants at a rate      of one unit for every $5.00 converted.  Notes in the principal      amount of $1,183,500 were sold as a part of the sale of WV Fiber,      Inc.                                                                                                                                                                                                        |   | 44,500                 |    | 1,228,000              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Notes      payable to former officer and other individual accredited      investors                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 60,250                 |    | -                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Notes      payable due to SovCap                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 161,250                | *       | -                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
| Note      payable to a related party assumed during merger of    BidChaser                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | -                      |    | 128,000                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                   |    |                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $  2,356,978 |    | $  4,243,518 |
| *      Notes payables included in liabilities of discontinued      operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | (204,254)              |    | (1,021,003)            |
| Notes      payable including related parties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2,152,724              |    | 3,222,515              |

|                                         | 2007                                                                            |   | 2006                                              |
|----------------------------------------------|---------------------------------------------------------------------------------|--------|---------------------------------------------------|
| Assets      of discontinued operations:      |                                                                            |   |                                              |
| Cash                                         | $                99,996  |   | $       14,813 |
| Accounts      receivable                     | -                                                                          |   | 608,423                                           |
| Prepaid      expenses                        | -                                                                          |   | 3,570                                             |
| Property      and equipments                 | -                                                                          |   | 1,182,099                                         |
| Other      noncurrent assets                 | 147,949                                                                    |   | 56,204                                            |
| Total      assets of discontinued operations | $      -                                     |   | $   1,865,109                      |
|                                         |                                                                            |   |                                              |
| Liabilities      of discontinued operations  |                                                                            |   |                                              |
| Accounts      payable and accrued expenses   | $      1,463,965                                  |   | $      1,216,021    |
|                                         |                                                                            |   |                                              |

|   |   |   |   |
|--------|--------|--------|--------|

|                                  |   | Number      of Options and Warrants |   | Weighted      Average Exercise Price Per Share |     |
|---------------------------------------|--------|-------------------------------------|--------|------------------------------------------------|----------|
| Outstanding      at January 1, 2006   |   | 112,972                             |   | $0.05                                          | -        |
| Granted                               |   | 6,020,000                           |   | $0.08                                          | -        |
| Canceled/forfeited                    |   | -                         |   | -                                         | -        |
| Expired                               |   | -                         |   | -                                    | -        |
| Exercised                             |   | -                         |   | -                                    | -        |
| Outstanding      at December 31, 2006 |   | 11,965,000                          |   | $0.09                                          | -      - |
| Granted           |   | -                         |   | -                                    | -        |
| Canceled/forfeited                    |   | -                         |   | -                                         | -        |
| Expired                               |   | -                         |   | -                                    | -        |
| Exercised                             |   | -                         |   | -                                    | -        |
| Outstanding      at December 31, 2007 |   | 8,952,500                           |   | $0.10                                          | -      - |

| Range      of Exercise |                      | Number      Outstanding |   | Weighted      Average Remaining Contractual Life (years) |   | Weighted      Average Exercise Price |   | Number      Exercised |   | Average      Exercise Price |
|------------------------|---------------------------|-------------------------|--------|----------------------------------------------------------|--------|--------------------------------------|--------|-----------------------|--------|-----------------------------|
| $0.01                  | -                         | $0.05                   |   | 421,362                                                  |   | 6                                    |   | 0.03                  |   | 0                           |   | 0.70 |
| 0.09                   |     - | 0.10                    |   | 1,673,512                                                |   | 7                                    |   | 0.08                  |   | 0                           |   | 0.10 |
| 0.10                   | -                         | 0.60                    |   | 6,593,781                                                |   | 8                                    |   | 9.34                  |   | 0                           |   | 0.37 |
| 0.60                   | -                         | 0.42                    |   | 236,345                                                  |   | 8                                    |   | 1.19                  |   | 0                           |   | 1.19 |

| ·   | Converted      $169,500 of notes and accrued interest into 296,725 (adjusted for reverse      split) |
|--------------------|------------------------------------------------------------------------------------------------------|

| ·   | Issued      common stock and warrants to consultants and amortized the expense over      the terms of the contracts, all in 2006, resulting in non-cash      compensation expense of $4,173,541 in2006 |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

The Company’s primary accountant, Maddox, Ungar,Silberstein, PLLC, was dismissed by the Company on March 19, 2008. No reports onthe financial statements prepared by Maddox, Ungar, Silberstein, PLLC over thepast two years contained any adverse opinion or disclaimer of opinion, or wasqualified or modified as to uncertainty, audit scope, or accounting principles,except for concerns about the Company's ability to continue as a goingconcern.  The decision to change accountants was, recommended andapproved by the Board of Directors, on March 19, 2008.  During the twomost recent fiscal years, and the subsequent interim period through March 19,2008 (the date of dismissal), there were no disagreements with Maddox, Ungar,Silberstein, PLLC on any matter of accounting principles or practices, financialstatement disclosure, or auditing scope of procedure, which disagreements, ifnot resolved to the satisfaction of Maddox, Ungar, Silberstein, PLLC would havecaused it to make reference to the subject matter of the disagreements inconnection with its report.

PART III

| Name               | Age    | Position      with the Company                                     |
|--------------------|--------|--------------------------------------------------------------------|
| Paul      D. Hamm  | 40     | President,      Chief Executive Officer, and Chairman of the Board |
| Peter      Marcum* | 55     | Director      and Chief Executive Officer of WV Fiber, Inc.        |
|               |   |                                                               |
| Jerry      Dunlap  | 54     | Director                                                           |
| Harish      Shah*  | 55     | Director      and President of Bidchaser, Inc.                     |

| NAME                       | AGE    | POSITION                                                 |
|----------------------------|--------|----------------------------------------------------------|
|                       |   |                                                     |
| Rene’      A. Schena | 44     | Chairman      , Director, CEO & CFO                  |
|                       |   |                                                     |
| Todd      J. Martinsky     | 42     | Director,      Vice President & COO                  |
|                       |   |                                                     |
| Mark      Schena, Ph.D.    | 44     | Chief      Technology Officer, Secretary & Treasurer |
|                       |   |                                                     |
| William      L. Sklar      | 60     | Director                                                 |
|                       |   |                                                     |
| Paul      Haje             | 52     | Director      of Advertising and Public Relations        |

Section 16(a) Beneficial Ownership ReportingCompliance

|                             |   | Annual      Compensation | Long      Term Compensation |
|----------------------------------|--------|--------------------------|-----------------------------|
| Name      and Principal Position | Year   | Salary($)                | Bonus($)                    | Securities      UnderlyingOptions/SARs      (#) |
|                             |   |                     |                        |   |
| Paul      D. Hamm (1)            | 2007   | $   3,125 | -                      | 3,150,560 |
| Chief      Executive Officer     | 2006   | $      75,000            | --                          | 3,150,560 |
| and      President               | 2005   | $      95,000            | --                          | 525,000 |

| (1)   | Consists      of 35,060 shares of common stock owned directly by Mr. Hamm and 3,115,500      shares that Mr. Hamm has the right to acquire upon the exercise of      currently exercisable stock options. Mr. Hamm may also be deemed to own      44,883 shares of Series A Preferred Stock owned by AlphaWest Capital      Partners, of which Mr. Hamm is the sole member. However, the Series A      Preferred Stock has not been converted to common stock, but may occur at a      conversion ratio of 9.6 shares of common stock for each share of Series A      Preferred Stock. Mr. Hamm, as a managing member of SovCap Investment      Management Group, also may be deemed to beneficially own 592,294 shares of      common stock and 2,280,013 shares of Series A preferred stock and      approximately 2,800,000 shares related to convertible notes outstanding      (based on conversion price of $0.22) beneficially owned by SovCap      Investment Equity Partners, Ltd., due to the investment management      relationship between SovCap Investment Management Group LLC and SovCap      Equity Partners, Ltd. Mr. is a member of SovCap Investment Management      Group. Mr. Hamm disclaims beneficial ownership of the securities held by      SovCap Equity Partners, as neither he nor SovCap Investment Management      Group has any interest in SovCap Equity Partners  Ltd. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              |                                                     |                                                              | Individual      Grants        |
|-------------------|----------------------------------------------------------|-------------------------------------------------------------------|-------------------------------|
| Name              | Number      of Securities Underlying Options Granted (#) | Percent      of Total Options Granted to Employees in Fiscal Year | Exercise      Price ($/Share) |   | Expiration      Date |
| Paul      D. Hamm | 37,500                                                   | 43%                                                               | $3.20-4.00                    | (4) | 7/26/15 |
|              | 1,450,000                                                | 21%                                                               | $      0.25                   | (4) | 3/22/16 |
|              | 2,000,000                                                | 28%                                                               | $      0.42                   | (4) | 10/12/16 |
|              |                                                     |                                                              |                          |   |   |
| Peter      Marcum | 1,000,000                                                | 14%                                                               | $      0.37                   | (4) | 10/12/16 |

| (1)      Options granted pursuant to the 2004 Directors, Officers and Consultants      Stock Option, Stock Warrant and Stock Award Plan, or "2004 Plan," which      vest in three equal yearly installments commencing on 7/26/05. The options      were not issued in tandem with stock appreciation or similar rights and      are not transferable other than by will or the laws of descent and      distribution. The options expire on July 16,  2015. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)      Options granted pursuant to the 2004 Plan, which vest in three equal      yearly installments commencing on 7/26/05. The options were not issued in      tandem with stock appreciation or similar rights and are not transferable      other than by will or the laws of descent and distribution. The options      expire on December March 22, 2016. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)      Options granted pursuant to the 2004 Plan, which were completely vested on      January October 12, 2006. The options were not issued in tandem with stock      appreciation or similar rights and are not transferable other than by will      or the laws of descent and distribution. The options expire on October 12,      2016. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)      The exercise price of these options was equal to the fair market value      (closing price) of the underlying common stock on the date of grant. These      options are nonqualified options. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5)   | Options      granted pursuant to the 2004 Plan, which vest in three equal yearly      installments commencing on10/12/06. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------|

| The      options were not issued in tandem with stock appreciation or similar      rights and are not transferable other than by will or the laws of descent      and distribution. The options expire on December October 12,      2016. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name              | Number      of Securities Underlying Unexercised Options at Fiscal Year--End      (#) | Value      of Unexercised In-the Money Options at Fiscal  Year-End($) |
|-------------------|---------------------------------------------------------------------------------------|-----------------------------------------------------------------------|
|              |                                                                                  |                                                                  |
| Paul      D Hamm  | 3,487,500                                                                             | - 0      -                                                            |
|              |                                                                                  |                                                                  |
| Peter      Marcum | 1,000,000                                                                             | - 0      -                                                            |

Compensation ofDirectors

| Name      and Address of Beneficial Owner                                         |   | Amount      and Nature of Beneficial Ownership |       | Percent      of Fully-Diluted Shares Outstanding |   |   |
|-----------------------------------------------------------------------------------|--------|------------------------------------------------|------------|--------------------------------------------------|--------|--------|
|  Executive      Officers and Directors                                       |   |                                           |       |                                             |   |   |
| Paul      D. Hamm (1)                                                             |   |                                           | 3,522,560  |                                             |   | 5.4    | % |   |
| Peter      Marcum (2)                                                             |   |                                           | 250,000    |                                             |   | *      | % |   |
| Harish      Shah (3)                                                              |   |                                           | 2,205,268  |                                             |   | 3.8    | % |   |
| Jerry      Dunlap (4)                                                             |   |                                           | 20,000     |                                             |   | *      |   |   |
| Five      Percent Shareholders                                                    |   |                                           |       |                                             |   |   |   |   |
| SovCap      Equity Partners Ltd. (5)                                              |   |                                           | 16,670,876 |                                             |   | 28.7   | % |   |
| Wilhagan      Ventures LLC (6)                                                    |   |                                           | 6,998,169  |                                             |   | 12.1   | % |   |
| All      Directors and ExecutiveOfficers      as a Group (4 persons) (1)(2)(3)(4) |   |                                           | 5,625,828  |                                             |   | 9.7    | % |   |

| (1) Consists of 35,060 shares of      common stock owned directly by Mr. Hamm and 3,487,500 shares that Mr. Hamm      has the right to acquire upon the exercise of currently exercisable stock      options. Mr. Hamm may also be deemed to own 44,883 shares of Series A      Preferred Stock owned by AlphaWest Capital Partners, of which Mr. Hamm is      the sole member. However, the Series A Preferred Stock has not been      converted to common stock, but may occur at a conversion ratio of 9.6      shares of common stock for each share of Series A Preferred Stock. Mr.      Hamm, as a managing member of SovCap Investment Management Group, also may      be deemed to beneficially own 592,294 shares of common stock and 2,280,013      shares of Series A preferred stock and approximately 2,800,000 shares      related to convertible notes outstanding (based on conversion price of      $0.22) beneficially owned by SovCap Investment Equity Partners, Ltd., due      to the investment management relationship between SovCap Investment      Management Group LLC and SovCap Equity Partners, Ltd. Mr. is a member of      SovCap Investment Management Group. Mr. Hamm disclaims beneficial      ownership of the securities held by SovCap Equity Partners, as neither he      nor SovCap Investment Management Group has any interest in SovCap Equity      Partners Ltd. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Consists      of 250,000 shares that Mr. Marcum has the right to acquire upon the      exercise of currently exercisable stock options. Mr. Marcum may also be      deemed to own the 728,976 shares of Series A Preferred Stock owned by      Wilhagan Ventures, of which Mr. Marcum is an owner. However, the Series A      Preferred Stock has not been converted into common, but may occur at a      conversion ratio of 9.6 shares of common stock for each share of Series A      Preferred Stock. Mr. Marcum disclaims beneficial ownership of the      securities held by Wilhagan Venture except to the extent of his      proportionate interest therein. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Consists      of 1,398,170 common shares, 73,656 preferred shares and 200,000 warrants      owned by Mr. Shah, his wife or J&H Orlando Inc., which is owned by Mr.      Shah. However, the Series A Preferred Stock has not been converted into      common, but may occur at a conversion ratio of 9.6 shares of common stock      for each share of Series A PreferredStock. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4)   | Consists      of 20,000 common shares owned by Mr. Dunlap. ISDN.Net, of which Mr. Dunlap      is President and an owner, owns 74,000 shares of Series A Preferred Stock      and 57,600 shares of common stock. However, the Series A Preferred Stock      has not been converted into common stock, but may occur at a conversion      ratio of 9.6 shares of common stock for each share of Series A Preferred      Stock. Mr. Dunlap disclaims beneficial ownership of the securities owned      by ISDN.Net except to the extent of his proportionate interest      therein. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5)   | Consists      of 592,294 shares of common stock and 1,466,519 shares of Series A      preferred stock, which are convertible at a ratio of 9.6 common for each      share of preferred, and approximately 2,000,000 shares related to      convertible notes outstanding (based on conversion price of $0.25)      beneficially owned by SovCap Investment Equity Partners,    Ltd. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6)   | Consists      of 728,976 shares of Series A Preferred Stock owned by Wilhagan Ventures,      which are convertible at a ratio of 9.6 common for each share of      preferred. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2004      Directors, Officers and Consultants Option Plan Vesting      Schedule |                |            |
|---------------------------------------------------------------------------------|---------------------|-----------------|
| Name                                                                            | Effective      Date | Term      (yrs) | Shares | Options | Adjusted      Amount | Strike      Price | Adjusted      Strike Price | Vested      as of 12/31/06 |
| Jay      Kozhikotte                                                             | 3/22/06             | 10              |   | 120,000 | 120,000 | 0.25 | 0.25 | 60,000 |
| Jon      Ellis                                                                  | 3/22/06             | 10              |   | 92,500 | 92,500 | 0.25 | 0.25 | 46,250 |
| Jorge      Tomassello                                                           | 3/22/06             | 10              |   | 440,000 | 440,000 | 0.25 | 0.25 | 220,000 |
| Mario      Pino                                                                 | 3/22/06             | 10              |   | 440,000 | 440,000 | 0.25 | 0.25 | 220,000 |
| Orlando      Mastrapa                                                           | 3/22/06             | 10              |   | 90,000 | 90,000 | 0.25 | 0.25 | 45,000 |
| Paul      D Hamm                                                                | 3/22/06             | 10              |   | 1,450,000 | 1,450,000 | 0.25 | 0.25 | 725,000 |
| John      Sarko                                                                 | 3/22/06             | 10              |   | 25,000 | 25,000 | 0.25 | 0.25 | 12,500 |
| Mashrua      Inc.                                                               | 3/30/06             | na              | 1,800,000 |   |   |   |   | 1,800,000 |
| Rossington      Partners                                                        | 3/30/06             | na              | 1,800,000 |   |   |   |   | 1,800,000 |
| Ronald      Cole                                                                | 3/30/06             | na              | 1,800,000 |   |   |   |   | 1,800,000 |
| Canouse                                                                         | 5/18/06             | 10              |   | 100,000 | 100,000 | 1.00 | 1.00 | 100,000 |
| Paul      D Hamm                                                                | 10/2/06             | 15              |   | 2,000,000 | 2,000,000 | 0.42 | 0.42 | 2000000 |
| Peter      Marcum                                                               | 10/12/06            | 15              |   | 1,000,000 | 1,000,000 | 0.37 | 0.37 | 250000 |
| Karen      Bairaktaris                                                          | 10/12/06            | 15              |   | 300,000 | 300,000 | 0.37 | 0.37 | 75000 |
| Bradley      Bopp                                                               | 10/12/06            | 15              |   | 150,000 | 150,000 | 0.37 | 0.37 | 37500 |
| Mark      Wilson                                                                | 10/12/06            | 15              |   | 550,000 | 550,000 | 0.37 | 0.37 | 137500 |
| Richard      Eller                                                              | 10/12/06            | 15              |   | 150,000 | 150,000 | 0.37 | 0.37 | 37500 |
|                                                                            |                |            |   |   |   |   |   |   |

1) Wepreviously maintained the New Planet Resources, Inc. Stock Incentive Plan andthe 2002 Directors, Officers and Consultants Stock Option, Stock Warrant andStock Award Plan. There are no outstanding options under these plans and weintend to retire these plans.

ITEM 13. EXHIBITS, LIST AND REPORTS ON FORM8-K

| Exhibit      Number | Description                                                                                                                            | Previously      Filed as Exhibit                                                    | File      Number | Previously      Date Filed |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|------------------|----------------------------|
|                |                                                                                                                                   |                                                                                |             |                       |
| 2.1                 | Agreement      and Plan of Merger                                                                                                      | Attached      to the Registrant's Current Report on Form 8-K                        | 001-16381        | 9/17/02                    |
| 3.1                 | Certificate      of Incorporation                                                                                                      | Exhibits      1 and 1.1 to the Registrant's Registration Statement on Form      8-A | 001-16381        | 3/01/01                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 3.2                 | Amended      and Restated Bylaws                                                                                                       | Exhibit      2 to the Registrant's Registration Statement on Form 8-A               | 001-16381        | 3/01/01                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 4.1                 | Form      of 8.0% Senior Secured Convertible Note                                                                                      | Exhibit      4.1 to Registrant's Current Report on Form 8-K                         | 001-16381        | 2/28/05                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 4.2                 | Form      of Warrant                                                                                                                   | Exhibit      4.2 to Registrant's Current Report on Form 8-K                         | 001-16381        | 2/28/05                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 4.3                 | Form      of Additional Investment Right "A"                                                                                           | Exhibit      10.2 to Registrant's Current Report on Form 8-K                        | 001-16381        | 2/28/05                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 4.4                 | Form      of Additional Investment Right "B"                                                                                           | Exhibit      10.3 to Registrant's Current Report on Form 8-K                        | 001-16381        | 2/28/05                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 10.1                | 2004      Directors, Officers and Consultants Stock Option, Stock Warrant and Stock      Award Plan                                    | Exhibit      4.1 to the Registrant's Registration Statement on Form S-8             | 333-119586       | 10/07/04                   |
| 10.2                | 2002      Directors, Officers and Consultants Stock Option, Stock Warrant and Stock      Award Plan                                    | Exhibit      4.1 to the Registrant's Registration Statement on Form S-8             | 333-99371        | 9/10/02                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 10.3                | Executive      Management Agreement, dated October 23, 2006 by and between the Registrant      and Paul D Hamm                         | Attached      hereto                                                                |             |                       |
|                |                                                                                                                                   |                                                                                |             |                       |
| 10.5                | Form      of Securities Purchase Agreement for 8.0% Senior Secured Convertible      Notes                                              | Exhibit      10.1 to Registrant's Current Report on Form 8-K                        | 001-16381        | 2/28/05                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 10.6                | Form      of Security Agreement                                                                                                        | Exhibit      10.4 to Registrant's Current Report on Form 8-K                        | 001-16381        | 2/28/05                    |
|                |                                                                                                                                   |                                                                                |             |                       |
| 21                  | Company      Subsidiaries                                                                                                              | Attached      hereto                                                                |             |                       |
| 31                  | Certification      pursuant to SEC Release No. 33-8238, as adopted pursuant to Section 302 of      the Sarbanes-Oxley Act of 2002      | Attached      hereto                                                                |             |                       |
|                |                                                                                                                                   |                                                                                |             |                       |
| 32.1                | Certification      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of      the Sarbanes-Oxley Act of 2002  | Attached      hereto                                                                |             |                       |
| 32.2                | Certification      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of      the Sarbanes-Oxley Act of 2002       | Attached      hereto                                                                |             |                       |

|                                                 | 2006          | 2007    |
|------------------------------------------------------|---------------|---------|
| Audit      Fees – Maddox Ungar Silberstein     | $      35,000 | $13,456 |
| Audit      Fees Malone & Bailey                  |          | 65,000  |
| Audit-Related      Fees                              | -        | -  |
| Tax      Fees Maddox Ungar Silberstein               | -        | 4,050   |
| All      Other Fees – Maddox Ungar Silberstein |  1,855   | 13,600  |

----

|                       | INTEGRATED      MEDIA HOLDINGS, INC.                          |
|----------------------------|---------------------------------------------------------------|
|                       |                                                          |
|                       |                                                          |
| Dated:      April 15, 2008 | By: /s/ RENE’ A. SCHENA                                 |
|                       | Rene’      A. Schena, Chairman , Director, CEO &CFO |

|                            | INTEGRATED      MEDIA HOLDINGS, INC.                                                                                                                        |
|---------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                            |                                                                                                                                                        |
|                            |                                                                                                                                                        |
| Dated:      April 15, 2008      | By: /s/RENE’ A. SCHENA                                                                                                                                |
|                            | Rene’      A. Schena, Chairman , Director, CEO & CFO(Principal      Executive Officer and acting Principal Financial and Accounting      Officer) |
|                            |                                                                                                                                                        |
|                            |                                                                                                                                                        |
| Dated: April      15, 2008 | By:      /s/ TODD J.  MARTINSKY                                                                                                                             |
|                            | Todd      J. Martinsky, Director, Vice President &COO                                                                                                   |

----