|                                 |                              |
|--------------------------------------|-----------------------------------|
| Delaware                             | 13-4070586                        |
| (State or other jurisdiction of      | (IRS Employer Identification No.) |
|  Incorporation or organization) |                              |
|                                 |                              |

|                                             |                          |
|--------------------------------------------------|-------------------------------|
| Large accelerated filer [  ]                | Accelerated filer [  ]   |
|                                             |                          |
| Non-accelerated filer   [  ] | Smaller reporting company [x] |
|                                             |                          |

----

| TABLE OF CONTENTS                                                                                                               |
|---------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                            |   |
|                                                                                                                            | Page |
|                                                                                                                            |   |
| Part I – Financial Information                                                                                            |   |
|                                                                                                                            |   |
| Item 1. Financial Statements                                                                                                    |   |
|                                                                                                                            |   |
| Consolidated Balance Sheets as of September 30, 2010 (unaudited) and December 31, 2009 (unaudited)                              | F-1 |
|                                                                                                                       |   |
| Consolidated Statements of Operations for the three and nine months ended September 30, 2010 and September 30, 2009 (unaudited) | F-2 |
|                                                                                                                            |   |
| Consolidated Statements of Cash Flows for the three months ended September 30, 2010 and September 30, 2009 (unaudited)          | F-3 |
|                                                                                                                            |   |
| Notes to Consolidated Financial Statements                                                                                      | F-4 |
|                                                                                                                            |   |
| Item 2.  Management’s Discussion and Analysis of Financial Conditiona nd Results of Operations.                 | 2  |
|                                                                                                                            |   |
| Item 3. Controls and Procedures                                                                                                 | 4 |
|                                                                                                                            |   |
| Part II – Other Information                                                                                               |   |
|                                                                                                                            |   |
| Item 1.   Legal Proceedings.                                                                                     | 5 |
|                                                                                                                            |   |
| Item 2.   Unregistered Sales of Equity Securities and  Use of Proceeds                                      | 5  |
|                                                                                                                            |   |
| Item 3.   Defaults Upon Senior Securities                                                                        | 5 |
|                                                                                                                            |   |
| Item 4.   Submission of Matters to a Vote of Security Holders                                                    | 5 |
|                                                                                                                            |   |
| Item 5.   Other Information.                                                                                     | 5 |
|                                                                                                                            |   |
| Item 6.  Exhibits and Reports on Form 8-K                                                                             | 5 |
|                                                                                                                            |   |
| Signatures                                                                                                                      | 6 |

----

|                                                                                                                                              |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                              |   | September 30, 2010 |   |   | December 31, 2009 |   |
|                                                                                                                                              |   | (Unaudited) |   |   | (Unaudited) |   |
| CURRENT ASSETS                                                                                                                                    |   |   |   |   |   |   |
|  Cash and cash equivalents                                                                                                                   |   | $ | 68,458 |   |   | $ | 1,677 |   |
| Accounts receivable, less allowance for doubtful accounts of $147,597 and $197,025, respectively                                                  |   |   | 41,827 |   |   |   | 69,918 |   |
| Loan receivable - short term                                                                                                                      |   |   | 3,000 |   |   |   | - |   |
| Inventory                                                                                                                                         |   |   | 79,838 |   |   |   | 578,628 |   |
| Deposits for future inventory purchases                                                                                                           |   |   | 210,344 |   |   |   | 127,697 |   |
| Prepaid Expenses                                                                                                                                  |   |   | 92,130 |   |   |   | - |   |
|       Total current assets                                                                                          |   |   | 495,597 |   |   |   | 777,920 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Property and equipment, less accumulated depreciation of $176,875 and $123,781 respectively                                                       |   |   | 36,002 |   |   |   | 112,845 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| Security deposits - retail store                                                                                                                  |   |   | 13,980 |   |   |   | 14,330 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
|       TOTAL ASSETS                                                                                                  |   | $ | 545,579 |   |   | $ | 905,095 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| CURRENT LIABILITIES                                                                                                                               |   |   |   |   |   |   |   |   |
| Bank overdrafts                                                                                                                                   |   | $ | 34,293 |   |   | $ | 34,293 |   |
| Bank lines of credit                                                                                                                              |   |   |   |   |   |   | 210,422 |   |
| Accounts payable and accrued expenses                                                                                                             |   |   | 1,008,118 |   |   |   | 1,160,927 |   |
| Payroll taxes and withholdings                                                                                                                    |   |   | 633,718 |   |   |   | 653,417 |   |
| Deferred activations                                                                                                                              |   |   | 213,966 |   |   |   | - |   |
| Customer deposits                                                                                                                                 |   |   | 207,158 |   |   |   | - |   |
| Common stock subject to put feature (Note 10)                                                                                                     |   |   | 248,000 |   |   |   | 323,000 |   |
|    Total current liabilities                                                                                                       |   |   | 2,345,253 |   |   |   | 2,382,059 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| LONG TERM LIABILITIES                                                                                                                             |   |   |   |   |   |   |   |   |
| Loans payable                                                                                                                                     |   |   | 338,451 |   |   |   | - |   |
| Loans payable to related parties                                                                                                                  |   |   | 1,938,834 |   |   |   | 2,177,168 |   |
|       TOTAL LIABILITIES                                                                                             |   |   | 4,622,538 |   |   |   | 4,559,227 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| STOCKHOLDERS' EQUITY (DEFICIENCY)                                                                                                                 |   |   |   |   |   |   |   |   |
| Preferred stock, $.001 par value, 10,000,000 shares authorized, 0 shares issued                                                                   |   |   | - |   |   |   | - |   |
| Common stock, $.001 par value, 200,000,000 shares authorized; issued and outstanding 166,575,793,  and 113,075,793 shares, respectively |   |   | 115,261 |   |   |   | 113,076 |   |
| Additional paid-in capital                                                                                                                        |   |   | 6,202,018 |   |   |   | 6,048,273 |   |
| Subscription receivable                                                                                                                           |   |   | (25,000 | ) |   |   | (25,000 | ) |
| Retained earnings (deficit)                                                                                                                       |   |   | (10,369,238 | ) |   |   | (9,790,481 | ) |
| Total stockholders' equity (deficiency)                                                                                                           |   |   | (4,076,959 | ) |   |   | (3,654,132 | ) |
|                                                                                                                                              |   |   |   |   |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS'EQUITY (DEFICIENCY)                                                                                            |   | $ | 545,579 |   |   | $ | 905,095 |   |
|                                                                                                                                              |   |   |   |   |   |   |   |   |

----

|                                                        |   | Three months ended September 30 |        |   | Nine months ended September 30 |   |
|-------------------------------------------------------------|--------|---------------------------------|-------------|--------|--------------------------------|--------|
|                                                        |   | 2010                            |        |   | 2009                           |   |   | 2010 |   |   | 2009 |   |
|                                                        |   | (Unaudited)                     |        |   | (Unaudited)                    |   |   | (Unaudited) |   |   | (Unaudited) |   |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |
|  Sales                                                 |   | $                               | 97,649      |   |                           | $      | 4,378 |   |   | $ | 156,405 |   |   | $ | 219,768 |   |
|  Less Cost of sales                                    |   |                            | 41,298      |   |                           |   | 8,159 |   |   |   | 63,892 |   |   |   | 208,314 |   |
|  Gross profit                                          |   |                            | 56,351      |   |                           |   | (3,781 | ) |   |   | 92,513 |   |   |   | 11,454 |   |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|  Selling, general and administrative expenses          |   |                            | 156,857     |   |                           |   | 230,946 |   |   |   | 1,504,142 |   |   |   | 884,726 |   |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|  Loss from operations                                  |   |                            | (100,506    | )      |                           |   | (234,727 | ) |   |   | (1,411,629 | ) |   |   | (873,272 | ) |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|  Loss from inventory adjustment                        |   |                            | -           |   |                           |   | - |   |   |   | (346,428 | ) |   |   | - |   |
|  Other expense                                         |   |                            |        |   |                           |   | (332 | ) |   |   | - |   |   |   | (332 | ) |
|  Interest expense                                      |   |                            | -           |   |                           |   | (14,539 | ) |   |   | (2,730 | ) |   |   | (7,493 | ) |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss                                              |   | $                               | (100,506    | )      |                           | $      | (249,598 | ) |   | $ | (1,760,787 | ) |   | $ | (881,097 | ) |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|  Basic and diluted earnings (loss) per common share    |   |                            | (0.00       | )      |                           |   | (0.00 | ) |   |   | (0.02 | ) |   |   | (0.01 | ) |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|  Weighted average shares outstanding basic and diluted |   |                            | 115,004,394 |   |                           |   | 112,710,959 |   |   |   | 115,004,394 |   |   |   | 112,460,521 |   |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                            |        |   |                           |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                |   | Nine Months Ended September 30 |       |
|-----------------------------------------------------------------------------------------------------|--------|------------------------------------------|------------|
|                                                                                                |   | 2010                                     |       |   | 2009 |   |
|                                                                                                |   | (unaudited)                              |       |   | (unaudited) |   |
| Operating Activities                                                                                |   |                                     |       |   |   |   |
|                                                                                                |   |                                     |       |   |   |   |
|  Net (loss)                                                                                    |   | $                                        | (1,760,787 | ) |   | $ | (915,871 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: |   |                                     |       |   |   |   |   |   |
| Depreciation and amortization                                                                       |   |                                     | 53,094     |   |   |   | 19,698 |   |
| Stock for consulting services                                                                       |   |                                     |       |   |   |   | 13,750 |   |
| Interest on common stock subject to put feature                                                     |   |                                     | 2,730      |   |   |   | - |   |
| Loss on inventory adjustment                                                                        |   |                                     | 346,428    |   |   |   | - |   |
| Provision for returns and allowance for doubtful accounts and bad debts write-offs                  |   |                                     | 503,679    |   |   |   | - |   |
| Changes in operating assets and liabilities                                                         |   |                                     |       |   |   |   |   |   |
| Receivables                                                                                         |   |                                     | 25,091     |   |   |   | 21,888 |   |
| Inventories                                                                                         |   |                                     | 498,790    |   |   |   | 95,780 |   |
| Deposits for future inventory purchases                                                             |   |                                     | (82,647    | ) |   |   | - |   |
| Deposit and prepaid expenses                                                                        |   |                                     | (91,780    | ) |   |   | (55,351 | ) |
| Customer deposits and deferred activations                                                          |   |                                     | 421,124    |   |   |   |   |   |
| Accounts payable and accrued expenses                                                               |   |                                     | (152,809   | ) |   |   | 202,502 |   |
| Common stock subject to put feature                                                                 |   |                                     | 75,000     |   |   |   | - |   |
| Payroll taxes and withholdings                                                                      |   |                                     | (19,699    | ) |   |   | 265,654 |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
| Net cash (used for) operating activities                                                            |   |                                     | (181,786   | ) |   |   | (351,950 | ) |
|                                                                                                |   |                                     |       |   |   |   |   |   |
| Investing Activities                                                                                |   |                                     |       |   |   |   |   |   |
| Property and equipment disposals                                                                    |   |                                     | 23,751     |   |   |   | - |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
| Net cash (used for) investing activities                                                            |   |                                     | 23,751     |   |   |   | - |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
| Financing Activities                                                                                |   |                                     |       |   |   |   |   |   |
| Increase (decrease) in loans payable to related parties                                             |   |                                     | (238,334   | ) |   |   | 115,166 |   |
| Proceeds from loans                                                                                 |   |                                     | 373,450    |   |   |   | - |   |
| Proceeds from sale of common stock                                                                  |   |                                     | 89,700     |   |   |   | 235,250 |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
| Net cash provided by financing activities                                                           |   |                                     | 224,816    |   |   |   | 350,416 |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
| Net increase (decrease) in cash                                                                     |   |                                     | 66,781     |   |   |   | (1,534 | ) |
| Cash and cash equivalents at beginning of period                                                    |   |                                     | 1,677      |   |   |   | 1,948 |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
|  Cash at end of period                                                                         |   | $                                        | 68,458     |   |   | $ | 414 |   |
|                                                                                                |   |                                     | -          |   |   |   |   |   |
| Significant non-cash investing and financing activities:                                            |   |                                     |       |   |   |   |   |   |
| 273,000 shares were issued as interest for shares subject to put feature                            |   |                                     |       |   |   |   |   |   |
| 50,000 shares were issued for $5,000 worth of legal services                                        |   |                                     |       |   |   |   |   |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |
|                                                                                                |   |                                     |       |   |   |   |   |   |

----

|                                  |   |   |   |
|---------------------------------------|--------|--------|--------|
| ICTT bank account overdraft facility  |   | $      | 1,698  |   |
| FONE1 bank account overdraft facility |   |   | 32,595 |   |
|                                  |   |   |   |   |
|                                  |   |   |   |   |
| Total                                 |   | $      | 34,293 |   |
|                                  |   |   |   |   |

----

|                                 |   |         |     |   |         |    |
|--------------------------------------|--------|--------------|----------|--------|--------------|---------|
|                                 |   | September 30 |     |   | December 31, |    |
|                                 |   |         | 2010     |   |         |    | 2009 |   |
|                                 |   |         |     |   |         |    |   |   |
| Computer equipment and software      |   | $            | 82,290   |   |         | $       | 82,290 |   |
| Furniture and fixtures          |   |         | 72,758   |   |         |    | 79,24  |   |
| Leasehold improvements          |   |         | 57,829   |   |         |    | 66,878 |   |
|                                 |   |         | 212,877  |   |         |    | 228,915 |   |
| Less accumulated depreciation ) |   |         | (176,875 | )      |         |    | (117,215 | )  |
| Property and equipment, net          |   |         |     |   |         |    |   |   |
| Of accumulated depreciation     |   | $            | 36,002   |   |         | $  | 112,845 |   |

|                           |   |                                      |   |   |   |   |
|--------------------------------|--------|-------------------------------------------|--------|--------|--------|--------|
|                           |   | Nine months ended September 30, |   |
|                           |   | 2010                                      |   |   |   | 2009   |   |
|                           |   |                                      |   |   |   |   |   |
| Current                        |   |                                      |   |   |   |   |   |
|                           |   |                                      |   |   |   |   |   |
|  Federal                  |   | $                                         | --     |   |   | $      | -- |   |
|  State                    |   |                                      | --     |   |   |   | -- |   |
|                           |   |                                      |   |   |   |   |   |   |
|  Total current provision  |   |                                      | --     |   |   |   | -- |   |
|                           |   |                                      |   |   |   |   |   |   |
|  Deferred                 |   |                                      |   |   |   |   |   |   |
|  Federal                  |   |                                      | --     |   |   |   | -- |   |
|  State                    |   |                                      | --     |   |   |   | -- |   |
|                           |   |                                      |   |   |   |   |   |   |
|  Total deferred provision |   |                                      | --     |   |   |   | -- |   |
|                           |   |                                      |   |   |   |   |   |   |
|  Total income tax expense |   | $                                         | --     |   |   | $      | -- |   |
|                           |   |                                      |   |   |   |   |   |   |
|                           |   |                                      |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                 |   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
| Federal social security and income tax                                                                                                                                                                                                                                                                                               |   | $      | 539,652 |
|  New York State income tax                                                                                                                                                                                                                                                                                                      |   |   | 72,278 |
| New York State Department of Labor                                                                                                                                                                                                                                                                                                   |   |   | 5,810 |
| New Jersey State income tax                                                                                                                                                                                                                                                                                                          |   |   | 197 |
|  New York State Workers’ Compensation Board                                                                                                                                                                                                                                                                               |   |   | 15,786 |
|                                                        |   |   |   |
|                                                                                                                                                                                                                                                                                                                                 |   | $      | 633,718 |
|                                                                  |   |   |   |

|                                                 |   |   |      |
|------------------------------------------------------|--------|--------|-----------|
|  Due to chief executive officer and affiliates: |   | $      | 1,938,834 |   |
|                                                 |   |   |      |   |
|       Total                 |   | $      | 1,938,834 |   |
|                                                 |   |   |      |   |

----

|                                                                                                                                                                                                                                                                                                               |   |         |     |   |           |   |    |           |   |   |    |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|----------|--------|----------------|--------|---------|----------------|--------|--------|---------|--------|
|                                                          |   | Telephone    |     |   |           |   |    |           |   |   |    |   |
|                                                                                                                                                                                                                     |   | products and |     |   | Transportation |   |    | Unallocated    |   |   |    |   |
|                                                          |   | services     |     |   | products       |   |    | Corporate      |   |   |    |   |
|                                                                              |   | (Europhone)  |     |   | (Eurospeed)    |   |    | Administration |   |   | Total   |   |
|                                                     |   | Segment      |     |   | Segment        |   |    | Amounts        |   |   | Amount  |   |
|                                                                                                                                                                                                                                                                                                               |   |         |     |   |           |   |    |           |   |   |    |   |
| Three Months Ended September 30, 2010                                                                                                                                                                                                                                                                              |   |         |     |   |           |   |    |           |   |   |    |   |
| Total revenues                                                                                                                                                                                                                                                                                                     |   | $            | 97,649   |   |           | $      | --      |           |   |   | --      |   |   | $ | 97,649 |   |
| Income (loss) from Operations                                                                                                                                                                                                                                                                                      |   |         | (62,101  | )      |           |   | --      |           |   |   | (38,405 | )      |   |   | (100,506 | ) |
| Depreciation expense                                                                                                                                                                                                                                                                                               |   |         | 17,698   |   |           |   | --      |           |   |   | --      |   |   |   | 17,698 |   |
| Total assets                                                                                                                                                                                                                                                                                                       |   |         | 316,975  |   |           |   | --      |           |   |   | 228,604 |   |   |   | 545,579 |   |
|                                                                                                                                                                                                                                                                                                               |   |         |     |   |           |   |    |           |   |   |    |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                               |   |         |     |   |           |   |    |           |   |   |    |   |   |   |   |   |
| Three Months Ended September 30, 2009                                                                                                                                                                                                                                                                              |   |         |     |   |           |   |    |           |   |   |    |   |   |   |   |   |
| Total revenues                                                                                                                                                                                                                                                                                                     |   | $            | 4,378    |   |           |   | --      |           |   |   | --      |   |   | $ | 4,378 |   |
| Income (loss) from Operations                                                                                                                                                                                                                                                                                      |   |         | (123,245 | )      |           |   | (15,691 | )              |   |   | (95,791 | )      |   |   | (234,727 | ) |
| Depreciation expense                                                                                                                          |   |         | 6,566    |   |           |   | --      |           |   |   | --      |   |   |   | 6,566 |   |
| Total assets                                                                                                                                                                                                                                                                                                       |   |         | 354,896  |   |           |   | 509,122 |           |   |   | 160,656 |   |   |   | 1,024,674 |   |
|                                                                                                                                                                                                                                                                                                               |   |         |     |   |           |   |    |           |   |   |    |   |   |   |   |   |

|                                 |   |  Telephone    |     |   |                 |   |       |                 |   |   |         |   |
|--------------------------------------|--------|--------------------|----------|--------|----------------------|--------|------------|----------------------|--------|--------|--------------|--------|
|                                 |   |  products and |     |   |  Transportation |   |       |  Unallocated    |   |   |         |   |
|                                 |   |  services     |     |   |  products       |   |       |  Corporate      |   |   |         |   |
|                                 |   |  (Europhone)  |     |   |  (Eurospeed)    |   |       |  Administration |   |   |  Total  |   |
|                                 |   |  Segment      |     |   |  Segment        |   |       |  Amounts        |   |   |  Amount |   |
|                                 |   |               |     |   |                 |   |       |                 |   |   |         |   |
| Nine Months Ended September 30, 2010 |   |               |     |   |                 |   |       |                 |   |   |         |   |
| Total revenues                       |   | $                  | 156,405  |   |                 | $      | --         |                 |   |   | --           |   |   | $ | 156,405 |   |
| Income (loss) from Operations        |   |               | (88,201  | )      |                 |   | (1,091.123 | )                    |   |   | (232,305     | )      |   |   | (1,411,629 | ) |
| Depreciation expense                 |   |               | 59,660   |   |                 |   | --         |                 |   |   | --           |   |   |   | 59,660 |   |
| Total assets                         |   |               | 216,475  |   |                 |   | --         |                 |   |   | 329,104      |   |   |   | 545.579 |   |
|                                 |   |               |     |   |                 |   |       |                 |   |   |         |   |   |   |   |   |
|                                 |   |               |     |   |                 |   |       |                 |   |   |         |   |   |   |   |   |
| Nine Months Ended September 30, 2009 |   |               |     |   |                 |   |       |                 |   |   |         |   |   |   |   |   |
| Total revenues                       |   | $                  | 125,129  |   |                 | $      | 94,639     |                 |   |   | --           |   |   | $ | 219,768 |   |
| Income (loss) from Operations        |   |               | (601,843 | )      |                 |   | (53,089    | )                    |   |   | (260,939     | )      |   |   | (915,871 | ) |
| Depreciation expense                 |   |               | 19,698   |   |                 |   | --         |                 |   |   | --           |   |   |   | 19,698 |   |
| Total assets                         |   |               | 354,896  |   |                 |   | 509,122    |                 |   |   | 160,656      |   |   |   | 1,024,674 |   |
|                                 |   |               |     |   |                 |   |       |                 |   |   |         |   |   |   |   |   |

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|                                                                                                                                                                  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 21.1 List of Subsidiaries                                                                                                                                        |
|                                                                                                                                                                  |
| 31.1 Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                          |
|                                                                                                                                                                  |
| 32.2 Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                          |
|                                                                                                                                                                  |
| 32.1 Certification of Chief Executive Officer pursuant to 8 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002            |
|                                                                                                                                                                  |
| 32.2  Certification of Chief Financial Officer pursuant to 8 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|                                                                                                                                              |
|                                                                                                                                                                  |

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|                                                                                                                                                                                                                                                                                                   |                                                                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                   |  /s/  Vasilios Koutsobinas                                      |
|                                                                                                                                                                                                                                                                                                   |  Vasilios Koutsobinas                                                     |
|                                                   | Chief Executive Officer,                                                  |
|                                                   | Director                                                                  |
|                                                        | (Principal Executive Officer)                                             |
|                                                                                                                                                                                                                                                                                                   |                                                                           |
|                                                                                                                                                                                                                                                                                                   |                                                                           |
|                                                                                                                                                                                                                                                                                                   |                                                                           |
| May 31, 2011                                                                                                                                                                                                                                                                                           |                                                                           |
|                                                                                                                                                                                                                                                                                                   |                                                                           |
|                                                                                 | s/  Andrew Eracleous         |
|                                                                                                                                                                                                                                                                                                   | Andrew Eracleous                                                               |
|                                                                                                                                                                                                                                                                                                   | Chief Financial Officer                                                        |
|                                                                                                                                                                                                                                                                                                   | Director                                                                       |
|                                                                                                                                                                                                                                                                                                   | (Principal Financial and                                                       |
|                                                                                                                                                                                                                                                                                                   | Accounting Officer)                                                            |

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|  Exhibits |                                                                                                        |
|----------------|-------------------------------------------------------------------------------------------------------------|
|  Number   |  Description of Exhibits                                                                               |
|           |                                                                                                        |
|  21       |  List of Subsidiaries.                                                                                 |
|           |                                                                                                        |
|  31.1     |  Certification of the Company's Chief Executive Officer pursuant to Section 302 of Sarbanes Oxley Act. |
|           |                                                                                                        |
|  31.2     |  Certification of the Company's Chief Financial Officer pursuant to Section 302 of Sarbanes Oxley Act. |
|           |                                                                                                        |
|  32.1     |  Certification of the Company's Chief Executive Officer pursuant to 18 U.S.C. Section 1350             |
|           |                                                                                                        |
|  32.2     |  Certification of the Company's Chief Financial Officer pursuant to 18 U.S.C. Section 1350             |
|           |                                                                                                        |
|           |                                                                                                        |

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