----

----

| [X]                  | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934.                                           |
|----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                            |
|                 | For                the Quarterly Period Ended November 30, 2007                                                                                                                 |
|                 |                                                                                                                                                                            |
| [   ] | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                EXCHANGE       ACT OF                1934. |
|                 | For                the transition period from ______________ to ________________                                                                                                |

| Wyoming                                                                         | 13-3411167                                          |
|---------------------------------------------------------------------------------|-----------------------------------------------------|
|    (State                or Other Jurisdiction of Incorporation) | (I.R.S.                Employer Identification No.) |

----

| PART                I.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Financial                Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Item                1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Condensed                Financial Statements (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Condensed                Balance Sheet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Condensed                Statements of                Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 3      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Condensed                Statements of                Stockholders’ Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 4      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Condensed                Statements of Cash                Flows                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Notes                to Condensed Financial                Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 7      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Item                2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Management's                Discussion and Analysis or Plan of                Operation                                                                                                            | 11     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Item                3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Controls                and                Procedures                                                                                                                                              | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| PART                II.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Other                Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Item                2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Unregistered                Sales of Equity                Securities                                                                                                                              | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Item                5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Other                Information                                                                                                                                                                   | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Item                6.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Exhibits                                                                                                                                                                                           | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| Signatures                and                Certifications                                                                                                                              | 18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

----

|                                                                 |   |   |    |
|----------------------------------------------------------------------|--------|--------|---------|
|                                                                 |   |   |    |
| ASSETS                                                               |   |   |    |
| Current                Assets:                                       |   |   |    |
| Due                from related                parties               |   | $      | 44,367  |   |
| Prepaid                expenses                                      |   |   | 6,720   |   |
| Total                current assets                                  |   |   | 51,087  |   |
|                                                                 |   |   |    |   |
| Office                equipment                                      |   |   | 21,913  |   |
| Less:    Accumulated                depreciation |   |   | (17,177 | ) |
| Net                office equipment                                  |   |   | 4,736   |   |
|                                                                 |   |   |    |   |
| Investment                                                           |   |   | 700,000 |   |
|                                                                 |   |   |    |   |
| TOTAL                ASSETS                                          |   | $      | 755,823 |   |
|                                                                 |   |   |    |   |

| LIABILITIES                AND SHAREHOLDERS' DEFICIENCY                                                                                                                                    |   |   |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-------------|
| Current                Liabilities:                                                                                                                                                        |   |   |        |
|   Bank                overdraft                                                                                                                                                  |   | $      | 5,985       |   |
| Accounts                payable                                                                                                                                                            |   |   | 220,623     |   |
| Due                to related parties                                                                                                                                                      |   |   | 397,140     |   |
|   Preferred                dividends payable                                                                                                                                     |   |   | 380,000     |   |
|   Accrued                professional fees                                                                                                                                       |   |   | 47,000      |   |
|   Accrued                interest                                                                                                                                                |   |   | 94,274      |   |
| Accrued                directors’ fees                                                                                                                                               |   |   | 37,375      |   |
|   Note                payable                                                                                                                                                    |   |   | 21,000      |   |
| Total                current liabilities                                                                                                                                                   |   |   | 1,203,397   |   |
|                                                                                                                                                                                       |   |   |        |   |
| Notes                payable                                                                                                                                                               |   |   | 700,000     |   |
|                                                                                                                                                                                       |   |   |        |   |
| Total                liabilities                                                                                                                                                           |   |   | 1,903,397   |   |
|                                                                                                                                                                                       |   |   |        |   |
|                                                                                                                                                                                       |   |   |        |   |
|                                                                                                                                                                                       |   |   |        |   |
| Shareholders’                deficiency:                                                                                                                                             |   |   |        |   |
| Series                A 8% convertible                preferred stock, $3,000 initial value, no par value, unlimited shares                authorized, 1,000 shares issued and outstanding |   |   | 3,000,000   |   |
| Common                stock, $.0001 par value;                unlimited  shares authorized, 817,768,540 shares, issued and                outstanding                            |   |   | 81,777      |   |
| Additional                paid in                capital                                                                                                                                   |   |   | 29,987,049  |   |
| Common                stock                subscribed                                                                                                                                      |   |   | 163,000     |   |
| Accumulated                deficit                                                                                                                                                         |   |   | (34,379,400 | ) |
| Total                shareholders’ deficiency                                                                                                                                        |   |   | (1,147,574  | ) |
| TOTAL                LIABILITIES AND SHAREHOLDERS' DEFICIENCY                                                                                                                              |   | $      | 755,823     |   |

----

|                                                                          |   | Three                Months EndedNovember                30, |        |   | Nine                Months EndedNovember                30, |   |
|-------------------------------------------------------------------------------|--------|--------------------------------------------------------------|-------------|--------|-------------------------------------------------------------|--------|
|                                                                          |   | 2007                                                         |        |   | 2006                                                        |   |   | 2007 |   |   | 2006 |   |
| Revenues:                                                                     |   | $                                                            | -           |   |                                                        | $      | - |   |   | $ | - |   |   | $ | - |   |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and expenses:                                            |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Wages                and consulting                fees                       |   |                                                         | -           |   |                                                        |   | 52,779 |   |   |   | - |   |   |   | 277,748 |   |
| Management                fees, related                party                  |   |                                                         | 55,429      |   |                                                        |   | 239,083 |   |   |   | 182,929 |   |   |   | 367,019 |   |
| Professional                fees                                              |   |                                                         | (6,696      | )      |                                                        |   | 48,000 |   |   |   | 1,479 |   |   |   | 285,598 |   |
| General                and                administrative                      |   |                                                         | 30,081      |   |                                                        |   | 66,110 |   |   |   | 73,062 |   |   |   | 202,370 |   |
| Interest                                                                      |   |                                                         | 26,178      |   |                                                        |   | 79,241 |   |   |   | 83,893 |   |   |   | 188,256 |   |
| Depreciation                and                amortization                   |   |                                                         | 381         |   |                                                        |   | 511 |   |   |   | 1,145 |   |   |   | 1,292 |   |
| Share                of loss of equity                accounted investment    |   |                                                         | -           |   |                                                        |   | 1,204,978 |   |   |   | - |   |   |   | 2,488,766 |   |
| Loss                on disposal of equity                accounted investment |   |                                                         | -           |   |                                                        |   | 332,751 |   |   |   | - |   |   |   | 332,751 |   |
| Gain                on disposal of marketable                securities       |   |                                                         | -           |   |                                                        |   | (27,426 | ) |   |   | (7,550 | ) |   |   | (41,302 | ) |
| Total                costs and                expenses                        |   |                                                         | 105,373     |   |                                                        |   | 1,996,027 |   |   |   | 334,958 |   |   |   | 4,102,498 |   |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss                                                       |   |                                                         | (105,373    | )      |                                                        |   | (1,996,027 | ) |   |   | (334,958 | ) |   |   | (4,102,498 | ) |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Preferred                dividends                                            |   |                                                         | 59,836      |   |                                                        |   | 59,836 |   |   |   | 180,822 |   |   |   | 180,822 |   |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss applicable to common shareholders                     |   | $                                                            | (165,209    | )      |                                                        | $      | (2,055,863 | ) |   | $ | (515,780 | ) |   | $ | (4,283,320 | ) |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Loss                per share of common stock:                                |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                average number of common shares outstanding           |   |                                                         | 817,768,540 |   |                                                        |   | 747,268,540 |   |   |   | 789,407,428 |   |   |   | 674,402,819 |   |
| Loss                per share                                                 |   | $                                                            | (0.0002     | )      |                                                        | $      | (0.003 | ) |   | $ | (0.0006 | ) |   | $ | (0.007 | ) |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
|                                                                          |   | Comprehensive                Income (Loss)                   |        |   |                                                        |   |   |   |   |   |   |
| Net                loss                                                       |   | $                                                            | (165,209    | )      |                                                        | $      | (2,055,863 | ) |   | $ | (515,780 | ) |   | $ | (4,283,320 | ) |
| Unrealized                holding gain (loss) on marketable securities        |   |                                                         | -           |   |                                                        |   | (36,146 | ) |   |   | - |   |   |   | 7,236 |   |
| Comprehensive                income (loss)                                    |   | $                                                            | (165,209    | )      |                                                        | $      | (2,092,009 | ) |   | $ | (515,780 | ) |   | $ | (4,276,084 | ) |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |
|                                                                          |   |                                                         |        |   |                                                        |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                     |  Preferred              Stock |  Common              Stock |         |    |                  |                     |               |
|--------------------------------------------------------------------------|------------------------------------|---------------------------------|--------------|---------|-----------------------|--------------------------|--------------------|
|                                                                     | Shares                             |   Amount              | Shares       | Amount  | CommonStockSubscribed | AdditionalPaid-inCapital | AccumulatedDeficit | OtherComprehensive Income | TotalStockholders’Equity |
| Balance,                February 28, 2006                                | 1,000                              | $3,000,000                      | $468,052,951 | $46,805 | $909,200              | $26,866,267              | $(27,003,945)      | - | $3,818,327 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock issued in connection with private placements | -                                  | -                               | 202,920,000  | 20,292  | (909,200)             | 1,906,893                | -                  | - | 1,017,985 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock issued pursuant to compensation arrangement  | -                                  | -                               | 9,008,089    | 901     | -                     | 242,318                  | -                  | - | 243,218 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock issued for consulting services provided      | -                                  | -                               | 500,000      | 50      | -                     | 17,950                   | -                  | - | 18,000 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock issued in lawsuit settlement                 | -                                  | -                               | 4,500,000    | 450     | -                     | 120,150                  | -                  | - | 120,600 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock subscribed                                   | -                                  | -                               | -            | -       | 370,000               | -                        | -                  | - | 370,000 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Loss                for the three month period ended May 31, 2006        | -                                  | -                               | -            | -       | -                     | -                        | (907,073)          | - | (907,073) |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Balance,                May 31, 2006                                     | 1,000                              | $3,000,000                      | 684,981,040  | $68,498 | $370,000              | $29,153,578              | $(27,911,018)      | $- | $4,681,058 |
| Common                stock issued in connection with private placements | -                                  | -                               | 54,725,000   | 5,473   | (547,250)             | 541,777                  | -                  | - | - |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock issued for consulting services provided      | -                                  | -                               | 4,562,500    | 456     | -                     | 61,169                   | -                  | - | 61,625 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Common                stock subscribed                                   | -                                  | -                               | -            | -       | 277,250               | -                        | -                  | - | 277,250 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Loss                for the three month period ended August 31, 2006     | -                                  | -                               | -            | -       | -                     | -                        | (1,320,384)        | - | (1,320,384) |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Unrealized                holding gain on marketable securities          | -                                  | -                               | -            | -       | -                     | -                        | -                  | 90,627 | 90,627 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Balance,                August 31, 2006                                  | 1,000                              | $3,000,000                      | 744,268,540  | $74,427 | $100,000              | $29,756,524              | $(29,231,402)      | $90,627 | $3,790,176 |
| Common                stock issued in settlement                         | -                                  | -                               | 18,000,000   | 1,800   | -                     | 160,200                  | -                  | - | 162,000 |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Loss                for the three month period ended November 30, 2006   | -                                  | -                               | -            | -       | -                     | -                        | (2,055,863)        | - | (2,055,863) |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Unrealized                holding gain on marketable securities          | -                                  | -                               | -            | -       | -                     | -                        | -                  | (83,391) | (83,391) |
|                                                                     |                               |                            |         |    |                  |                     |               |   |   |
| Balance,                November 30, 2006                                | 1,000                              | $3,000,000                      | 762,268,540  | $76,227 | $100,000              | $29,916,724              | $(31,287,265)      | $7,236 | $1,812,922 |

----

|        |  Preferred              Stock |  Common              Stock |   |   |                  |                     |               |
|--------|------------------------------------|---------------------------------|--------|--------|-----------------------|--------------------------|--------------------|
|   | Shares                             |   Amount              | Shares | Amount | CommonStockSubscribed | AdditionalPaid-inCapital | AccumulatedDeficit | OtherComprehensive Income | TotalStockholders’Equity |

| Balance,                February 28, 2007                                  | 1,000                  | $3,000,000 | 762,268,540 | $76,227 | $136,000 | $29,911,099 | $(33,863,620) | $13,246                                                  | $(727,048)   |
|----------------------------------------------------------------------------|-----------------------------|------------|-------------|---------|----------|-------------|---------------|----------------------------------------------------------|--------------|
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Common                stock issued in connection with settlement agreement | -                           | -          | 10,000,000  | 1,000   | (36,000) | 35,000      | -             | -                                                        | -            |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Change                in unrealized gain on marketable securities          | -                           | -          | -           | -       | -        | -           | -             | (13,246)                                                 | (13,246)     |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Loss                for the three month period ended May 31, 2007          | -                           | -          | -           | -       | -        | -           | (164,177)     | -                                                        | (164,177)    |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Balance,                May 31, 2007                                       | 1,000                  | $3,000,000 | 772,268,540 | $77,227 | $100,000 | $29,946,099 | $(34,027,797) | $         - | $(904,471)   |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Common                stock subscribed                                     | -                           | -          | -           | -       | 65,500   | -           | -             | -                                                        | 65,500       |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Common                stock issued in connection with private placements   | -                           | -          | 45,500,000  | 4,550   | (45,500) | 40,950      | -             | -                                                        | -            |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Loss                for three month period ended August 31, 2007           | -                           | -          | -           | -       | -        | -           | (186,394)     | -                                                        | (186,394)    |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Balance,                August  31, 2007                         | 1,000                  | $3,000,000 | 817,768,540 | $81,777 | $120,000 | $29,987,049 | $(34,214,191) | $         - | $(1,025,365) |
| Common                stock subscribed                                     | -                           | -          | -           | -       | 43,000   | -           | -             | -                                                        | 43,000       |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Loss                for three month period ended November 30, 2007         | -                           | -          | -           | -       | -        | -           | (165,209)     | -                                                        | (165,209)    |
|                                                                       |                        |       |        |    |     |        |          |                                                     |         |
| Balance,                November 30, 2007                                  | 1,000                  | $3,000,000 | 817,768,540 | $81,777 | $163,000 | $29,987,049 | $(34,379,400) | $         - | $(1,147,574) |

----

|                                                                                                                                     |   | Nine                Months EndedNovember                30, |     |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------|----------|
|                                                                                                                                     |   | 2007                                                        |     |   | 2006 |   |
| Net                cash from operations                                                                                                  |   |                                                        |     |   |   |   |
| Net                (loss)                                                                                                                |   | $                                                           | (334,958 | ) |   | $ | (4,102,498 | ) |
| Adjustments                to reconcile net                (loss)to                net cash used in operating                activities: |   |                                                        |     |   |   |   |   |   |
| Depreciation                and                amortization                                                                              |   |                                                        | 1,145    |   |   |   | 1,292 |   |
| Loss                in equity accounted                investment                                                                        |   |                                                        | -        |   |   |   | 2,488,766 |   |
| Loss                on disposal of equity                accounted investment                                                            |   |                                                        | -        |   |   |   | 332,751 |   |
| Gain                on disposal of                investment                                                                             |   |                                                        | (7,550   | ) |   |   | (41,302 | ) |
| Common                stock issued for                consulting services provided                                                       |   |                                                        | -        |   |   |   | 241,625 |   |
| Amortization                of deferred                financing costs                                                                   |   |                                                        | -        |   |   |   | 74,250 |   |
|      Changes                in:                                                                                 |   |                                                        |     |   |   |   |   |   |
| Prepaid                expenses                                                                                                          |   |                                                        | (6,720   | ) |   |   | 43,330 |   |
| Due                from/to related                parties                                                                                |   |                                                        | 127,876  |   |   |   | (54,327 | ) |
| Accounts                payable and accrued                expenses                                                                      |   |                                                        | 56,789   |   |   |   | (141,841 | ) |
| Net                cash used in operating activities                                                                                     |   |                                                        | (163,418 | ) |   |   | (1,157,954 | ) |
|                                                                                                                                     |   |                                                        |     |   |   |   |   |   |
| Cash                flows from investing activities:                                                                                     |   |                                                        |     |   |   |   |   |   |
|           Purchase                of office equipment                                  |   |                                                        | -        |   |   |   | (4,826 | ) |
|           Proceeds                on disposal of equity accounted investment           |   |                                                        | -        |   |   |   | 2,300,000 |   |
|           Capital                contributions to investments                          |   |                                                        | -        |   |   |   | (1,300,000 | ) |
|           Proceeds                on disposal of marketable securities                 |   |                                                        | 37,100   |   |   |   | 79,433 |   |
| Net                cash provided by investing activities                                                                                 |   |                                                        | 37,100   |   |   |   | 1,074,607 |   |
|                                                                                                                                     |   |                                                        |     |   |   |   |   |   |
| Cash                flows from financing activities:                                                                                     |   |                                                        |     |   |   |   |   |   |
|           Repayment                of notes payable                                    |   |                                                        | -        |   |   |   | (2,486,616 | ) |
|           Payment                of preferred dividends                                |   |                                                        | -        |   |   |   | (100,000 | ) |
|           Issuance                of notes payable                                     |   |                                                        | -        |   |   |   | 400,000 |   |
|           Increase                in bank indebtedness                                 |   |                                                        | 5,985    |   |   |   | - |   |
|           Proceeds                on issuance of common stock                          |   |                                                        | 45,500   |   |   |   | 1,565,236 |   |
|           Proceeds                from common stock subscribed                         |   |                                                        | 63,000   |   |   |   | 100,000 |   |
| Net                cash provided by (used in) financing activities                                                                       |   |                                                        | 114,485  |   |   |   | (521,380 | ) |
|                                                                                                                                     |   |                                                        |     |   |   |   |   |   |
| (Decrease)                in cash                                                                                                        |   |                                                        | (11,833  | ) |   |   | (604,727 | ) |
| Cash,  beginning                of period                                                                                      |   | $                                                           | 11,833   |   |   | $ | 609,804 |   |
| Cash,  end                of                period                                                                             |   | $                                                           | -        |   |   | $ | 5,077 |   |

|   | 1. | A                total of 5,062,500 shares of its common stock, valued at $79,625                for                consulting services provided, |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | 9,008,089                common shares, valued at $243,218 to an officer pursuant to a compensation                arrangement, |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | 4,500,000                common shares, valued at $120,600, as part of a lawsuit settlement. |
|--------|----|----------------------------------------------------------------------------------------------|

|   | 4. | 18,000,000                common shares, valued at $162,000, as a settlement with a former                director. |
|--------|----|---------------------------------------------------------------------------------------------------------------------|

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|                                           |   | November                30, 2007 |   |
|------------------------------------------------|--------|----------------------------------|--------|
|                                           |   |                             |   |
| Entity                with common shareholders |   | $                                | 44,367 |   |
|                                           |   |                             |   |   |

|                                                  |   | November                30, 2007 |    |
|-------------------------------------------------------|--------|----------------------------------|---------|
|                                                  |   |                             |    |
| Officers                and directors                 |   | $                                | 42,750  |   |
| Entities                with certain common directors |   |                             |    |   |
| and/or                officers                        |   |                             | 145,435 |   |
| Former                officers and directors          |   |                             | 208,955 |   |
|                                                  |   |                             |    |   |
| Total                                                 |   | $                                | 397,140 |   |
|                                                  |   |                             |    |   |

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|                                                                                                                                                      |   | November                30, 2007 |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|
|                                                                                                                                                      |   |                             |    |
| SIG                Communications Partnership 10% unsecured promissory note                                                                               |   | $                                | 21,000  |   |
|                                                                                                                                                      |   |                             |    |   |
| Southern                Tier Acquisition II, LLC and Oneida Entertainment Holdings Inc.,                15% 5                year secured promissory note |   |                             | 700,000 |   |
|                                                                                                                                                      |   |                             |    |   |
| Total                                                                                                                                                     |   | $                                | 721,000 |   |
|                                                                                                                                                      |   |                             |    |   |
| Less:                current portion                                                                                                                      |   |                             | 21,000  |   |
|                                                                                                                                                      |   |                             |    |   |
| Long                term portion                                                                                                                          |   | $                                | 700,000 |   |
|                                                                                                                                                      |   |                             |    |   |

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| Exhibit | Document                                                                                                                                                               |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1    | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*                                                                               |
| 31.2    | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002.*                                                                |
| 32.1    | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |
| 32.2    | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |

----

|                                    |   |                                                                    |   |
|-----------------------------------------|--------|-------------------------------------------------------------------------|--------|
| Date:                  January 14, 2008 | By:    |  /s/                John G Simmonds                                |   |
|                                    |   | Name:                John G. Simmonds                                   |   |
|                                    |   | Title :                 President and Chief Executive Officer |   |
|                                    |   |                                                                    |   |

|                                    |   |                                                                                                 |   |
|-----------------------------------------|--------|------------------------------------------------------------------------------------------------------|--------|
| Date:                  January 14, 2008 | By:    | /s/ Gary                N Hokkanen                                                              |   |
|                                    |   | Name:                Gary N. Hokkanen                                                                |   |
|                                    |   | Title:                Chief Financial Officer                                                        |   |
|                                    |   |                          ( principal financial officer) |   |

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| Exhibit | Document                                                                                                                                                               |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1    | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*                                                                               |
| 31.2    | Certification                pursuant to                Section 302 of the Sarbanes-Oxley Act of 2002.*                                                                |
| 32.1    | Certification                pursuant to 18                U.S.C. Section 1350, as adopted pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002. * |
| 32.2    | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |

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