UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

[X]  Quarterly report under section 13 or 15(d) of the Securities Exchange Act
     of 1934 for the quarterly period ended June 30, 2007
                                            -------------

[ ]  Transition report under section 13 or 15(d) of the Securities Exchange Act
     of 1934 for the transition period from _________ to _________.


                         Commission File Number: 0-32307
                                                 -------


                        MEDIANET GROUP TECHNOLOGIES, INC.
                        ---------------------------------
        (Exact name of small business issuer as specified in its charter)


                NEVADA                                    13-4067623
                ------                                    ----------
     (State or other jurisdiction                        (IRS Employer
   of incorporation or organization)                   Identification No.)


                5100 W. COPANS ROAD, SUITE 710, MARGATE, FL 33063
                -------------------------------------------------
                    (Address of principal Executive offices)


                                  954-974-5818
                                  ------------
                            Issuer's telephone number


                                 Not Applicable
                                 --------------
                  (Former address if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days. Yes [X]
No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:

At August 10, 2007, the following shares were outstanding: 12,121,736

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]

<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

                                   FORM 10-QSB

                           Quarter Ended June 30, 2007

                                Table of Contents

                                                                            Page
                                                                            ----

PART I - FINANCIAL INFORMATION

   Item 1 - Financial Statements ...........................................   3

            Condensed Consolidated Balance Sheet
            June 30, 2007 (Unaudited) ......................................   3

            Condensed Consolidated Statements of Operations (Unaudited)
            For the Three Months and Six months ended June 30, 2007 and 2006   4

            Condensed Consolidated Statements of Cash Flows (Unaudited)
            For the Six Months Ended June 30, 2007 .........................   5

            Notes to the Condensed Consolidated Financial Statements .......   6

   Item 2 - Management's Discussion or Analysis of Plan of Operation
            Financial Condition and Results of Operations ..................  15

   Item 3 - Controls and Procedures ........................................  18


PART II - OTHER INFORMATION

   Item 1 - Legal Proceedings ..............................................  19

   Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds ....  19

   Item 3 - Default upon Senior Securities .................................  19

   Item 4 - Submission of Matters to a Vote of Security Holders ............  19

   Item 5 - Other Information ..............................................  19

   Item 6 - Exhibits and Reports on Form 8-K ...............................  20


Signatures..................................................................  21


                                        2
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
                      CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)

                                                                      June 30,
                                                                        2007
                                                                    -----------
                                     ASSETS

Current assets
  Cash and cash equivalents .....................................   $    41,783
  Accounts receivable ...........................................        12,047
  Inventory .....................................................        58,592
                                                                    -----------
Total current assets ............................................       112,422

Property, plant & equipment
  Computer equipment ............................................        38,163
  Accumulated depreciation ......................................       (22,753)
                                                                    -----------
Net property, plant and equipment ...............................        15,410

Other assets
  Trademark .....................................................         2,200
  Film library ..................................................        19,834
  Record master .................................................         5,341
                                                                    -----------
Total other assets ..............................................        27,375

Total assets ....................................................   $   155,207
                                                                    ===========

                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current liabilities
  Accounts payable and accrued liabilities ......................   $   198,146
  Deferrred revenue .............................................        67,413
                                                                    -----------
Total current liabilities .......................................       265,559

Stockholders' deficiency
  Common stock: par value $.001; 50,000,000 shares authorized;
  12,121,736 shares issued and
  outstanding ...................................................        12,122
  Additional paid in capital ....................................     4,511,661
  Accumulated deficit ...........................................    (4,634,135)
                                                                    -----------
Total stockholders' deficiency ..................................      (110,352)
                                                                    -----------

Total liabilities and stockholders' deficiency ..................   $   155,207
                                                                    ===========

                 The accompanying notes are an integral part of
                the condensed consolidated financial statements.

                                        3
<PAGE>
<TABLE>
                                      MEDIANET GROUP TECHNOLOGIES, INC.
                               CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                                 (UNAUDITED)
<CAPTION>
                                                    For the Three months             For the Six months
                                                       ended June 30,                  ended June 30,
                                                ----------------------------    ----------------------------
                                                    2007            2006            2007            2006
                                                ------------    ------------    ------------    ------------
<S>                                             <C>             <C>             <C>             <C>
Revenues
  Sales revenues ............................   $    219,387    $     63,450    $    391,917    $    145,106
  Cost of sales .............................        189,760          79,239         388,516         147,835
                                                ------------    ------------    ------------    ------------
    Gross profit ............................         29,627         (15,789)          3,401          (2,729)

Operating expenses
  Consulting fees ...........................         18,540           7,288          51,793          39,377
  Other selling and administrative expenses .        181,769         125,670         326,545         241,048
  Impairment Loss ...........................         75,522               -          75,522               -
                                                ------------    ------------    ------------    ------------
    Total operating expenses ................        275,831         132,958         453,860         280,425

Loss from operations ........................       (246,204)       (148,747)       (450,459)       (283,154)


Interest Income .............................              -               -             383               -
                                                ------------    ------------    ------------    ------------

Net loss ....................................   $   (246,204)   $   (148,747)   $   (450,076)   $   (283,154)
                                                ============    ============    ============    ============

Basic and diluted net loss per share ........   $      (0.02)   $      (0.01)   $      (0.04)   $      (0.03)
                                                ============    ============    ============    ============

Weighted average number of shares outstanding     11,965,252      10,012,120      11,901,164       9,753,243
                                                ============    ============    ============    ============

                                The accompanying notes are an integral part of
                               the condensed consolidated financial statements.

                                                      4
</TABLE>
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

                                                           For the Six Months
                                                             ended June 30,
                                                         ----------------------
                                                            2007         2006
                                                         ---------    ---------
Cash flows from operating activities:
  Net loss ...........................................   $(450,076)   $(283,154)
  Adjustments to reconcile net loss to
   net cash used in operations:
    Depreciation and amortization ....................       4,060       10,785
    Impairment loss on film library ..................      75,522            -
    Stock and warrants issued for services ...........      13,500       24,800
    Stock options issued for services ................      15,540       14,577
    Changes inoperating liabilities and assets:
      Accounts receivable ............................       2,465       47,032
      Inventory ......................................     (14,911)        (333)
      Prepaid expense ................................      24,152       (6,251)
      Accounts payable and accrued liabilities .......      62,378      (83,260)
      Deferred revenue ...............................      35,811       (4,804)
                                                         ---------    ---------
    Net cash used in operations ......................    (231,559)    (280,608)

Cash flows from investing activities:
  Purchase of fixed assets ...........................     (15,405)           -
                                                         ---------    ---------
    Net cash used in investing activities ............     (15,405)           -

Cash flows from financing activities:
  Stock issued for cash ..............................     135,401      375,000
  Net proceeds from due to stockholders ..............           -       25,933
                                                         ---------    ---------
    Net cash provided by financing activities ........     135,401      400,933
                                                         ---------    ---------

  Increase (decrease) in cash and cash equivalents ...    (111,563)     120,325

  Cash and cash equivalents, beginning of period .....     153,346       10,590
                                                         ---------    ---------
  Cash and cash equivalents, end of period ...........   $  41,783    $ 130,915
                                                         =========    =========

Supplemental disclosures of cash flow information:
  Cash paid for interest .............................   $       -    $       -
                                                         =========    =========
  Cash paid for income taxes .........................   $       -    $       -
                                                         =========    =========

                 The accompanying notes are an integral part of
                the condensed consolidated financial statements.

                                        5
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with accounting principles generally accepted in the
United States of America for interim financial information and with the
instructions to Form 10-QSB and Item 310 of Regulation SB. Accordingly, they do
not include all of the information and footnotes required by accounting
principles generally accepted in the United States of America for annual
financial statements. In the opinion of management, all adjustments (consisting
of normal recurring accruals) considered necessary for a fair presentation have
been included. The consolidated operating results for the six months ended June
30, 2007 are not necessarily indicative of the results that may be expected for
the year ending December 31, 2007. For further information, refer to the
financial statements and footnotes thereto included in the Form 10-KSB for the
year ended December 31, 2006.

Certain amounts from previous year have been reclassified to comply with current
year presentation. Such classifications include Amortization expenses
reclassified as Cost of Goods Sold.

NATURE OF BUSINESS

MediaNet Group Technologies, Inc., ("we," "us," "our," the "Company"), was
incorporated on June 4, 1999 in the State of Nevada.

Brand-A-Port, Inc. (formerly "ShutterPort"), a Florida corporation, was founded
February 4, 2000. The Company was formed to become an online provider of
branded, business to business and business to consumer web portals to a variety
of businesses. The Company acts as an aggregator (to bring in a variety of
interests to the portal), facilitator (to assist users in communicating with
each other) and infomediary (to gather and supply information to users).

The Company has developed a loyalty rewards program ("BSP Rewards") and began to
sign member providers and merchants during its initial launch in 2004. The
Company private brands the program and charges merchants participating in BSP
Rewards program, a fee or a percentage of the value of sales it transacts
through the BSP system.

CAPITAL RESOURCES AND BUSINESS RISKS

The Company's future operations are subject to all of the risks inherent in the
establishment of a business enterprise. At June 30, 2007, current liabilities
exceeded current assets by $153,137

The financial statements have been prepared on the basis that the Company will
continue as a going concern, which contemplates the realization of assets and
satisfaction of liabilities and commitments in the normal course of business. At
June 30, 2007, the Company had an accumulated deficit of $4,634,135.The Company
also realized net losses of $450,076 and $283,154 for the six months ended June
30, 2007 and 2006, respectively.

                                        6
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Operations to date have been primarily financed by stockholder debt and equity
transactions. As a result, the Company's future operations are dependent upon
the identification and successful completion of permanent equity financing, the
continued support of shareholders and ultimately, the achievement of profitable
operations. These financial statements do not include any adjustments relating
to the recoverability and classification of recorded asset amounts nor to
amounts and classification of liabilities that may be necessary should it be
unable to continue as a going concern.

CONTROL BY PRINCIPAL STOCKHOLDERS

The directors, executive officers and their affiliates or related parties, own
beneficially and in the aggregate, the majority of the voting power of the
outstanding shares of the common stock of the Company. Accordingly, the
directors, executive officers and their affiliates, if they voted their shares
uniformly, would have the ability to control the approval of most corporate
actions, including increasing the authorized capital stock of the Company and
the dissolution, merger or sale of the Company's assets.

STOCK TRANSACTIONS AND OUTSTANDING WARRANTS AND OPTIONS

On January 1, 2006, the Company adopted FAS-123R. In March 2005, the SEC staff
expressed their views with respect to FAS-123R in Staff Accounting Bulletin No.
107, Share-Based Payment ("SAB 107"). SAB 107 provides guidance on valuing
options. The impact of FAS-123R for the six months ended June 30, 2007 was to
record a non-cash compensation expense of $29,040.

The adoption of FAS-123R had no effect on cash flow from operations or cash flow
from financing activities for the six months ended June 30, 2007. FAS-123R
requires the cash flows from tax benefits resulting from tax deductions in
excess of the compensation cost recognized for those options ("excess tax
benefits") to be classified as financing cash flows. Prior to the adoption of
FAS-123R, excess tax benefits would have been classified as operating cash
inflows. The Company has not recognized, and does not expect to recognize in the
near future, any tax benefit related to stock-based compensation costs as a
result of the full valuation allowance on our net operating loss carry forwards.

The Company recognizes share-based compensation expense for all service-based
awards with graded vesting schedules on a straight-line basis over the requisite
service period for the entire award. Initial accruals of compensation expense
are based on the estimated number of shares for which requisite service is
expected to be rendered. Estimates are revised if subsequent information
indicates that forfeitures will differ from previous estimates, and the
cumulative effect on compensation cost of a change in the estimated forfeitures
is recognized in the period of the change.

                                        7
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

As of June 30, 2007, the Company had outstanding warrants to purchase up to
495,000 shares of common stock. These securities give the holder the right to
purchase shares of the Company's common stock in accordance with the terms of
the instrument.


                                                   Warrants
                                                   --------

                     Balance, January 1, 2007      495,000
                     Issued .................            -
                     Exercised ..............            -
                                                   -------
                     Balance June 30, 2007 ..      495,000
                                                   =======


The following table provides certain information with respect to the above
referenced warrants outstanding at June 30, 2007:


                                    Weighted                Weighted
                                     Average             Average Life
          Exercise Price         Exercise Price              Years
          --------------         --------------          ------------
          $0.55 - $1.50              $1.20                     2


                                                   Options
                                                   -------

                     Balance, January 1, 2007      265,000
                     Issued .................       75,000
                     Exercised ..............       40,000
                                                   -------
                     Balance June 30, 2007 ..      300,000
                                                   =======


The following table provides certain information with respect to the above
referenced options outstanding at June 30, 2007:


                                    Weighted                Weighted
                                     Average             Average Life
          Exercise Price         Exercise Price              Years
          --------------         --------------          ------------
          $0.18 - $0.45              $0.28                    4.3


                                        8
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

On January 23, 2007, the Company issued 25,000 shares of restricted common stock
to a director for consulting services valued at $0.40 per share. The $0.40 per
share price is consistent with the market price of the Company's stock as quoted
on the OTC Bulletin Board on January 23, 2007. The securities were sold based on
the exemption from registration provided by Section 4 (2) of the Securities Act
of 1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued. The Company has
expensed $10,000 in SFAS NO 123R Expense for the six months ended June 30, 2007.

On January 23, 2007, the Company issued options to purchase 75,000 shares of
common stock to a director. The options are exercisable at $0.20 per share,
which represents 50% of the closing bid price per share of the Company's common
stock price on January 23, 2007. The Company has expensed $15,540 in SFAS NO
123R Expense for the six months ended June 30, 2007, using the Black Sholes
Stock Option Valuation Model.

On February 1, 2007, the Company issued 40,000 restricted common shares to
Joseph Porrello. Mr. Porrello (a Director) exercised his stock option to
purchase 40,000 shares valued at $0.26 per share. The securities were sold based
on the exemption from registration provided by Section 4 (2) of the Securities
Act of 1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued.

On February 2, 2007, the Company consummated the private sale of 285,715
restricted common shares to one (1) accredited investor, at a price of $0.35 per
share. The total offering price was $100,000. The securities were sold based on
the exemption from registration provided by Section 4 (2) of the Securities Act
of 1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued.

On June 28, 2007, the Company consummated the private sale of 125,000 restricted
common shares to one (1) accredited investor, at a price of $0.20 per share. The
total offering price was $25,000. The securities were sold based on the
exemption from registration provided by Section 4 (2) of the Securities Act of
1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued.

On June 29, 2007, the Company issued as compensation to two of its employees
35,000 restricted common shares. James Dyas, former Chief Financial Officer
received 25,000 shares and James Yagielo, Director of Technical Services
received 10,000 shares. A restrictive legend was placed on the certificates
issued. The Company has paid $3,500 in SFAS NO 123R Expense for the six months
ended June 30, 2007.

                                        9
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

USE OF ESTIMATES

The preparation of the financial statements, in conformity with accounting
principles generally accepted in the United States of America, requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenue and
expenses during the reporting period. Actual results could differ from those
estimates.

SIGNIFICANT ESTIMATES

Several areas require management's estimates relating to uncertainties for which
it is reasonably possible that there will be a material change in the near term.
The more significant areas requiring the use of management estimates related to
valuation of film library, accrued liabilities and the useful lives for
amortization and depreciation.

SEGMENT REPORTING

Statement of Financial Accounting Standards No 131 ("SFAS 131"), "Disclosure
About Segments of an Enterprise and Related Information", requires use of the
"management approach" model for segment reporting. Under this model, segment
reporting is consistent with the way Company's management organizes segments
within the company for making operating decisions and assessing performance.
Reportable segments are based on products and services, geography, legal
structure, management structure, or any other manner in which management
disaggregates a company.

LONG-LIVED ASSETS

The carrying values of long-lived assets are periodically reviewed by management
and impairments would be recognized if the expected future non-discounted cash
flows derived from an asset were less than carrying value. An Impairment loss of
$75,522 was recorded as of June 30, 2007 against our Film Library and Record
Master. The impairment loss is recorded as a component of "Operating expenses"
in the Statement of Operations.

FAIR VALUE OF FINANCIAL INSTRUMENTS

Financial instruments reported in the Company's consolidated balance sheet
consist of cash, accounts receivable, prepaid expenses, accounts payable, notes
payable and accrued expenses, the carrying values of which approximate fair
value at June 30, 2007.

2. LOSS PER SHARE

Basic loss per common share ("LPS") is calculated by dividing net loss by the
weighted average number of common shares outstanding during the period. Diluted
earnings per share are calculated by adjusting the weighted average outstanding
shares, assuming conversion of all potentially dilutive stock options.

                                       10
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

3. INCOME TAXES

The Company accounts for income taxes in accordance with the provisions of SFAS
No. 109, "Accounting for Income Taxes."

As of June 30, 2007, the Company has allowable federal net operating loss carry
forwards to offset future taxable income. The federal net operating loss carry
forwards of approximately $4,634,135 will expire during the years 2021 through
2027 and the utilization of this net operating loss maybe limited in accordance
with IRS Code Section 382.

The Company has recorded a full valuation allowance against the deferred tax
asset, including the federal and state net operating loss carry forwards as
management believes that it is more likely than not that substantially all of
the deferred tax asset will not be realized.

4. CAPITAL STOCK

The total number of shares of capital stock authorized to be issued by the
Company is 50,000,000 shares of Common Stock, $.001 par value. Each share of
capital stock entitles the holder thereof to one vote at each meeting of the
stockholders of the company.

5. LEGAL PROCEEDINGS

From time to time, the Company has disputes that arise in the ordinary course of
its business. Currently, according to management, there are no material legal
proceedings to which the Company is party or to which any of their property is
subject.

6. CONSULTING AND SALES AGREEMENTS

During the period of January 1, 2007 through June 30, 2007, the Company has
signed Marketing Partner and /or Member Provider Agreements ("Agreements") with
various individuals or companies. These agreements allow companies to become
Marketing Partners and/or Member Providers of licenses of the MediaNet portals,
BSP Rewards and other products and services offered by the Company. These
agreements allow individuals and companies to become Marketing Partners of
licenses of the MediaNet portals, BSP Rewards and other products and services
offered by the Company and/or Member Providers who enroll Members into the BSP
Rewards platforms.

The terms of these agreements are generally one (1) year from the effective
date, and can be renewed for successive one (1) year periods after the initial
one (1) year term, if agreed by both parties in writing within 30 days of
license expiration. Either party may terminate the "AGREEMENT" on sixty (60)
days written notice during a renewed term.

On March 12, 2007, we signed a Digital Distribution Agreement with Digital Music
Group, Inc. The Agreement is relative to our Howdy Doody library and our Songs
from the neighborhood "The Music of MISTER ROGERS" audio and covers electronic
and digital transmission. The Company will receive a royalty on net receipts of
all sales. The term of the Agreement is seven years, commencing March 16, 2007.

                                       11
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

7. REVENUE RECOGNITION

The Company recognizes revenue when there is persuasive evidence of an
arrangement, delivery has occurred, the fee is fixed or determinable,
collectibility is reasonably assured, and there are no substantive performance
obligations remaining.

The Company sometimes charges a per-client, per month repetitive web-site
maintenance service fee. Customer payments received in advance for providing
maintenance services are recorded as deferred revenue and are then recognized
proportionately as the maintenance services are performed. Deferred revenue
totaled $67,413 at June 30, 2007.

Revenues generated from the sale of CD/DVD's of our Record Master are recognized
net of a reserve for returns when the product is shipped to the customer in
accordance with terms of the customer's order, the price has been agreed upon,
and collection is reasonably assured.

The revenue from the Howdy Doody episodes are recognized in accordance with
Statement of Position ("SOP") 00-2, Accounting by Producers or Distributors of
Films.

8. TRANSACTION PROCESSING

BSP Rewards receives rebates from participating merchants on all transactions
processed by BSP through its on-line mall platform. The percentage rebate paid
by merchants varies between 1 % and 30% and BSP normally shares 50% of the
rebate with the member who made the purchase.

We processed $3,490,000 of merchant transactions through our on-line web mall
during the six months ended June 30, 2007 compared to $2,225,000 for the six
months ended June 30, 2006. The merchant transactions processed through our
on-line web mall produced $373,352 in gross revenue for the BSP Rewards segment
of the Company during the six months ended June 30, 2007 as compared to $68,005
for the six months ended June 30, 2006.

9. SEGMENT REPORTING

The Company has two reportable segments: (1) entertainment properties which
includes audio and video products and (2) branded services which includes the
branded websites and branded loyalty rewards programs. The Company sells all of
the products in the United States. These operating segments were determined
based on the nature of the products and services offered. The segments share a
common workforce and office headquarters, which include an allocation of all
overhead components. Overhead items that are specifically identifiable to a
particular segment are applied to such a segment.

Operating segments are defined as components of an enterprise about which
separate financial information is available that is evaluated regularly by the
chief operating decision-maker in deciding how to allocate resources and in
assessing performance. The Company's chief executive officer and chief financial
officer have been identified as the chief decision makers. The Company's chief
operation decision makers direct the allocation of resources to operating
segments based on the profitability and cash flows of each respective segment.

                                       12
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

9. SEGMENT REPORTING (Continued)

The Company evaluates performance based on several factors, of which the primary
financial measure is business segment income before taxes. The accounting
policies of the business segments are the same as those described in "Note 1:
Summary of Significant Accounting Policies." The following tables reflect the
operations of the Company's reportable segments:
<TABLE>
<CAPTION>
         Six Months ended                 Branded       Entertainment      Corporate      Consolidated
          June 30, 2007                   Services        Properties       And Elim.          Total
         ----------------                ---------      -------------      ---------      ------------
<S>                                      <C>              <C>              <C>              <C>
Net Sales (2) .....................      $ 382,414        $   9,503                -        $ 391,917
Depreciation & Amortization (3) ...          3,400           76,182                -           79,582
Segment (Loss) Income before taxes        (296,170)         (87,871)         (66,035)        (450,076)
Segment assets (1) ................        134,095           51,392           (6,472)         179,018
Expenditures for segment assets (3)         15,405                -                -           15,405


         Six Months ended                 Branded       Entertainment      Corporate      Consolidated
          June 30, 2006                   Services        Properties       And Other          Total
         ----------------                ---------      -------------      ---------      ------------
Net Sales (2) .....................      $  81,620        $  63,486                -        $ 145,106
Depreciation & Amortization (3) ...          3,617            7,168                -           10,785
Segment (Loss) Income before taxes        (151,323)         (74,404)         (57,427)        (283,154)
Segment assets (1) ................         66,760          588,492          113,903          769,155
Expenditures for segment assets (3)              -                -                -                -


        Three Months ended                Branded       Entertainment      Corporate      Consolidated
          June 30, 2007                   Services        Properties       And Elim.          Total
        ------------------               ---------      -------------      ---------      ------------
Net Sales (2) .....................      $ 215,262        $   4,125                -        $ 219,387
Depreciation & Amortization (3) ...          2,842           75,852                -           78,694
Segment (Loss) Income before taxes        (134,328)         (80,748)         (31,127)        (246,203)
Segment assets (1) ................        130,144           51,392           (2,518)         179,018
Expenditures for segment assets (3)         15,405                -                -           15,405


        Three Months ended                Branded       Entertainment      Corporate      Consolidated
          June 30, 2006                   Services        Properties       And Elim.          Total
        ------------------               ---------      -------------      ---------      ------------
Net Sales (2) .....................      $  47,230        $  16,220                -        $  63,450
Depreciation & Amortization (3) ...            558            4,558                -            5,116
Segment (Loss) Income before taxes         (85,974)         (47,973)         (14,800)        (148,747)
Segment assets (1) ................          9,198           19,044          118,138          146,380
Expenditures for segment assets (3)              -                -                -                -
</TABLE>

                                       13
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

9. SEGMENT REPORTING (Continued)

(1)   Total Segment assets are owned or allocated assets used by each business.
      Segment assets consist of cash and cash equivalents, marketable securities
      and certain other assets.

(2)   Branded Services two year comparative segment revenue follows;

      (a)   Gift Cards and certificates generated $334,866 in revenue for the
            six months ending June 30, 2007, as compared to $37,000 for the six
            months ended June 30, 2006.

      (b)   BSP Reward program generated $ 47,548 in revenue for the six months
            ended June 30, 2007, as compared to $68,005 for the six months ended
            June 30, 2006.

      (c)   Other items generated $9,503 in revenue for the six months ended
            June 30, 2007, as compared to $13,615 for the six months ended June
            30, 2006.

(3)   Corporate property additions, depreciation and amortization expense
      include items attributable to the unallocated fixed assets of support
      divisions and common facilities. For the three months ended June 30, 2007
      this also includes an impairment loss of $75,522 against our Film Library
      and Record Master.

10. MAJOR CUSTOMERS

During the six months ending June 30, 2007, there were no major customers in
each of the segments. During the period ending June 30, 2006, there were no
major customers in each of the segments.

11. SUBSEQUENT EVENTS

On July 10, 2007, the Company consummated the private sale of 250,000 restricted
common shares to one (1) accredited investor, at a price of $0.20 per share. The
total offering price was $50,000. The securities were sold based on the
exemption from registration provided by Section 4 (2) of the Securities Act of
1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued

                                       14
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

         Certain statements in this report, including statements in the
following discussion which are not statements of historical fact, are what are
known as "forward looking statements," which are basically statements about the
future. For that reason, these statements involve risk and uncertainty since no
one can accurately predict the future. Words such as "plans," "intends," "will,"
"hopes," "seeks," "anticipates," "expects" and the like often identify such
forward looking statements, but are not the only indication that a statement is
a forward-looking statement. Such forward looking statements include statements
concerning our plans and objectives with respect to the present and future
operations of the Company, and statements which express or imply that such
present and future operations will or may produce revenues, income or profits.
Numerous factors and future events could cause the Company to change such plans
and objectives or fail to successfully implement such plans or achieve such
objectives, or cause such present and future operations to fail to produce
revenues, income or profits. Therefore, the reader is advised that the following
discussion should be considered in light of the discussion of risks and other
factors contained in this report on Form 10-QSB and in the Company's other
filings with the Securities and Exchange Commission. No statements contained in
the following discussion should be construed as a guarantee or assurance of
future performance or future results.

OVERVIEW

         Clamshell Enterprises, Inc. was organized under the laws of the State
of Nevada on June 4, 1999 as a "blind pool" or "blank check" company whose
business plan was to seek to acquire a business opportunity through completion
of a merger, exchange of stock, or similar type of transaction. On May 22, 2003
we changed our name to MediaNet Group Technologies, Inc.

         On March 31, 2003 we completed the acquisition of all of the issued and
outstanding shares of Brand-A-Port, Inc., in a share exchange transaction. The
former stockholders of Brand-A-Port, Inc., acquired a majority of our issued and
outstanding common stock as a result of completion of the share exchange
transaction. Although the result of the share exchange transaction was that
Brand-A-Port, Inc., became our wholly-owned subsidiary, the transaction was
accounted for as a recapitalization of Brand-A-Port, Inc., whereby Brand-A-Port,
Inc., was deemed to be the accounting acquirer and was deemed to have adopted
our capital structure.

         All of our current operations are carried on through Brand-A-Port,
Inc., BSP Rewards, Inc. and Memory Lane Syndication, Inc., our wholly-owned
subsidiaries.

RESULTS OF OPERATIONS

Six Months Ended June 30, 2007 as compared to Six Months Ended June 30, 2006
----------------------------------------------------------------------------

         For the six months ended June 30, 2007, we had revenues from operations
of $391,917, and a net loss of $450,076. For the six months ended June 30, 2006,
we had revenues from operations of $145,106 and a net loss of $283,154.

         Branded Services net sales increased $ 300,795 or 369 % to $ 382,414
compared to $81,619 for the six months ended June 30, 2006.The increase is
attributable to increased sales of gift cards, individual memberships, and an
increase of merchants participating in our web mall.

                                       15
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION (Continued)

         Entertainment Properties net sales decreased $53,945 or 85 % to $9,503
compared to $63,448 for the six months ended June 30, 2006. This decrease is
attributable to the reduction of in store advertising.

         Operating expenses for the six months ended June 30, 2007, were
$453,860, compared to $280,425 for the six months ended June 30, 2006, an
increase of $173,435.Consulting fees increased $12,416; Insurance expense
increased $8,796; Payroll expense and related fringe benefits increased $44,877
due to the hiring of additional staff; Commission expense increased $18,192;
Telephone expense increased $1,747: Rent expense increased $8,072 (due to
increased sq. ft. leased); Office expense increased $1,165; Dues and
Subscriptions increased $2,459 and Office Supplies increased $1,979.

         Included in operating expenses for the six months ended June 30, 2007
there is an Impairment loss of $ 59,500 against our Film Library and $16,022
against our Record Master, for a total of $75,222.

Three Months Ended June 30, 2007 as compared to Six Months Ended June 30, 2006
------------------------------------------------------------------------------

         Operating expenses for the three months ended June 30, 2007, were
$275,831, compared to $132,958 for the six months ended June 30, 2006, an
increase of $142,873.Consulting fees increased $11,252; Insurance expense
increased $4,981; Payroll expense and related fringe benefits increased $63,251
due to the hiring of additional staff; Commission expense increased $490;
Telephone expense decreased $78: Rent expense increased $3,118 (due to increased
sq. ft. leased); Office expense decreased $1,784; Dues and Subscriptions
decreased $17 and Office Supplies decreased $1,069.

LIQUIDITY AND CAPITAL RESOURCES

         Deferred revenue results from customers who pay for services in
advance, such as quarterly, or annually. The Company records the initial payment
in deferred revenue and then recognizes in each subsequent month that proportion
which is provided in services. As of June 30, 2007, deferred revenue amounted to
$67,413.

         As of June 30, 2007, we had cash on hand of approximately $41,783.
During the six months ended June 30, 2007, net cash used in operations was
$231,559, and during the six months ended June 30, 2006, net cash used in
operations was $280,608. However, our operations are not yet profitable, and we
continue to require additional funding in order to continue business operations.

         To date, we have funded our cash shortage and obtained the cash
necessary to continue operations primarily through equity transactions with
management and through equity private placements.

         The current gradual expansion of our operations for the next twelve
months is due to the fact that the web sites, portals and marketing materials
for our various divisions are completed and ready for use. However, until
operating revenues increase significantly, we must continue to seek outside
funding for the purpose of accelerating the expansion of our operations. There
is no assurance that the Company can raise adequate capital to fund its
operations.

                                       16
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION (Continued)

PLAN OF OPERATIONS

         Our plan of operations is to primarily develop our BSP Rewards
business. The timing and the extent to which we are able to implement our
expansion plan will primarily be dependent upon our ability to obtain outside
working capital. Although management believes we have established a base through
which we can continue to grow.

         The primary operations of the company are focused on the Branded
Loyalty Rewards segment of the business. The efforts are concentrated on (1)
Building the On-Line merchants network. (2) The participating Gift Card
merchants. (3) Initiating a participating In-Store merchant network. (4)
Layering the BSP platform onto credit, debit and prepaid cards. (5) Increasing
the member base through agreements with member Provider Organizations. (6)
Increasing transactions and fees.

         The Company has signed Marketing Partner and/or Member Provider
Agreements with various individuals and companies to sell for the BSP on a
straight commission basis. The Company has signed various Private Branded Mall
Agreements with web-based retailers, organizations, in-store retailers who will
give and redeem BSP Rewards and in most instances place their customers into the
program as members. Additionally, the Company has signed agreements with various
associations, debit card issuers and non-profits who enroll their members into
the program.

         Additionally, the company has agreements with various merchants and
affiliate managers through which the standard BSP Web Malls now include over 650
merchants from whom members receive rebate rewards.

         The Company commenced market testing of the Mr. Rogers CD/DVD in the
fourth quarter, 2005. We are presently offering it for sale on a direct basis
and through various wholesale and retail distributors and both on-line and brick
and mortar stores. There is no assurance that we will realize any significant
sales or revenues in the future.

         We will seek to concentrate our efforts and gradually expand our
operations in all areas during the next 12 months by establishing an expanding
base of marketing partners that will allow us to extend our marketing efforts
for the BSP Rewards program, with no increased overhead.

RISK FACTORS

         We are aware that business trends relative to the Internet are fluid
and are constantly changing. We are also aware that the U.S. economy is
currently in a state of uncertain growth. The combination of changing trends
relative to the Internet and uncertainty regarding economic growth could have a
material impact on our short-term or long-term liquidity or our net sales or
revenues or income from operations.

                                       17
<PAGE>

ITEM 3.  CONTROLS AND PROCEDURES

      a) Evaluation of Disclosure Controls and Procedures: As of June 30, 2007,
         our management carried out an evaluation, under the supervision of our
         Chief Executive Officer and Chief Financial Officer of the
         effectiveness of the design and operation of our system of disclosure
         controls and procedures (as defined in Rules 13a-14 (c) and 15d-14 (c)
         under the Securities Exchange Act of 1934, as amended). Based on that
         evaluation, our Chief Executive Officer and Chief Financial Officer
         concluded that our disclosure controls and procedures are effective to
         provide reasonable assurance that information we are required to
         disclose in reports that we file or submit under the Exchange Act is
         recorded, processed, summarized and reported within the time periods
         specified in Securities and Exchange Commission rules and forms, and
         that such information is accumulated and communicated to our
         management, including our Chief Executive Officer and Chief Financial
         Officer, as appropriate, to allow timely decisions regarding required
         disclosures.

         Our management does not expect that our disclosure controls and
         procedures or our internal control over financial reporting will
         necessarily prevent all fraud and material error. Our disclosure
         controls and procedures are designed to provide reasonable assurance of
         achieving our objectives and our Chief Executive Officer and Chief
         Financial Officer concluded that our disclosure controls and procedures
         are effective at that reasonable assurance level. Further, the design
         of a control system must reflect the fact that there are resource
         constraints, and the benefits of controls must be considered relative
         to their costs. Because of the inherent limitations in all control
         systems, no evaluation of controls can provide absolute assurance that
         all control issues and instances of fraud, if any, within the Company
         have been detected. These inherent limitations include the realities
         that judgments in decision-making can be faulty, and that breakdowns
         can occur because of simple error or mistake. Additionally, controls
         can be circumvented by the individual acts of some persons, by
         collusion of two or more people, or by management override of the
         internal control. The design of any system of controls also is based in
         part upon certain assumptions about the likelihood of future events,
         and there can be no assurance that any design will succeed in achieving
         its stated goals under all potential future conditions. Over time,
         control may become inadequate because of changes in conditions, or the
         degree of compliance with the policies or procedures may deteriorate.

      b) Changes in internal controls: There were no changes in internal
         controls over financial reporting that occurred during the period
         covered by this report that have materially affected, or are reasonably
         likely to materially effect, our internal control over financial
         reporting.

                                       18
<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         NONE

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

         On January 23, 2007, the Company issued 25,000 shares of restricted
common stock to a director for consulting services valued at $0.40 per share.
The $0.40 per share price is consistent with the market price of the Company's
stock as quoted on the OTC Bulletin Board on January 23, 2007. The securities
were sold based on the exemption from registration provided by Section 4 (2) of
the Securities Act of 1933, in that these shares were acquired for investment
purposes only. A restrictive legend was placed on the certificate issued.

         On January 23, 2007, the Company issued options to purchase 75,000
shares of common stock to a director. The options are exercisable at $0.20 per
share, which represents 50% of the closing bid price per share of the Company's
common stock price on January 23, 2007.

         On February 1, 2007, the Company issued 40,000 restricted common shares
to Joseph Porrello. Mr. Porrello (a Director) exercised his stock option to
purchase 40,000 shares valued at $0.26 per share. The securities were sold based
on the exemption from registration provided by Section 4 (2) of the Securities
Act of 1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued.

         On June 28, 2007, the Company consummated the private sale of 125,000
restricted common shares to one (1) accredited investor, at a price of $0.20 per
share. The total offering price was $25,000. The securities were sold based on
the exemption from registration provided by Section 4 (2) of the Securities Act
of 1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued.

         On July 10, 2007, the Company consummated the private sale of 250,000
restricted common shares to one (1) accredited investor, at a price of $0.20 per
share. The total offering price was $50,000. The securities were sold based on
the exemption from registration provided by Section 4 (2) of the Securities Act
of 1933, in that these shares were acquired for investment purposes only. A
restrictive legend was placed on the certificate issued

ITEM 3.  DEFAULT UPON SENIOR SECURITIES

         NONE

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         NONE

ITEM 5.  OTHER INFORMATION

         NONE

                                       19
<PAGE>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8K

     (a) Exhibits

         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 Section 906 of the Sarbanes-Oxley
                  Act of 2002

         32.2     Certification Pursuant to Section 906 of the Sarbanes-Oxley
                  Act of 2002

     (b) Reports on Form 8-K

      o  On January 23, 2007, the Company filed a Form 8-K dated January 23,
         2007 reporting under ITEM 5.02 DEPARTURE OF PRINCIPAL OFFICERS, stating
         Mr. Joseph Porrello and Mr. Ivan Bial resigned from their position as
         Director of the Company. There were no disagreements by the Company or
         Mr. Porrello and Mr. Bial relating to the resignation.

      o  On January 23, 2007, the Company filed a Form 8-K dated January 23,
         2007 reporting under ITEM 5.02 ELECTION OF DIRECTORS; APPOINTMENT OF
         PRINCIPAL OFFICERS, stating Mr. Robert Hussey was elected to serve as a
         Director of the Company.

      o  On June 29, 2007, the Company filed a Form 8-K dated June 29, 2007
         reporting under ITEM 5.02 - DEPATURE OF PRINCIPAL OFFICER; stating that
         Mr. James M. Dyas had resigned as Chief Financial Officer, effective
         June 29,2007. The Company also announced the appointment of Mr. Steven
         Adelstein as Interim Chief Financial Officer.

                                       20
<PAGE>

                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto dully
authorized.


                                       MEDIANET GROUP TECHNOLOGIES, INC.


Date: August 14, 2007                  By: /s/ Martin Berns
                                           ----------------
                                           Martin Berns
                                           President and Chief Executive Officer


Date: August 14, 2007                  By: /s/ Steven  Adelstein
                                           ---------------------
                                           Steven Adelstein
                                           Interim Chief Financial Officer


                                       21