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 September 30, 2006
                                            ------------------

[ ]  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 November 14, 2006, the following shares were outstanding: 11,586,021

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

<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

                                   FORM 10-QSB

                        Quarter Ended September 30, 2006

                                Table of Contents


                                                                            Page
                                                                            ----
PART I - FINANCIAL INFORMATION

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

            Condensed Consolidated Balance Sheet
            September 30, 2006 (Unaudited)..................................  3

            Condensed Consolidated Statements of Operations (Unaudited)
            For the Three and Nine Months Ended September 30, 2006 and 2005.  4

            Condensed Consolidated Statements of Cash Flows (Unaudited)
            For the Nine Months Ended September 30, 2006 and 2005...........  5

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

   Item 2 - Management's Discussion and Analysis of
            Financial Condition and Results of Operations................... 14

   Item 3 - Controls and Procedures......................................... 17

PART II - OTHER INFORMATION

   Item 1 - Legal Proceedings............................................... 17

   Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds..... 17

   Item 3 - Defaults upon Senior Securities................................. 18

   Item 4 - Submission of Matters to a Vote of Security Holders ............ 18

   Item 5 - Other Information .............................................. 18

   Item 6 - Exhibits and Reports on Form 8-K................................ 18

Signatures.................................................................. 19

                                        2
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.
                      CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)
                                                                   September 30,
                                                                   -------------
                                                                       2006
                                                                   -------------
                                     ASSETS
Current assets
  Cash and cash equivalents ....................................    $   253,611
  Accounts receivable ..........................................         14,363
  Inventory ....................................................         41,734
  Prepaid expense ..............................................         13,139
                                                                    -----------
Total current assets ...........................................        322,847

Property, plant & equipment
  Computer equipment ...........................................         22,758
  Accumulated depreciation .....................................        (19,095)
                                                                    -----------
Net property, plant and equipment ..............................          3,663

Other assets
  Trademark ....................................................          2,500
  Film library .................................................         83,037
  Record master ................................................         21,693
                                                                    -----------
Total other assets .............................................        107,230

Total assets ...................................................    $   433,740
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
  Accounts payable and accrued liabilities .....................    $   148,610
  Deferrred revenue ............................................         28,725
  Due to stockholders ..........................................         38,399
                                                                    -----------
Total current liabilities ......................................        215,734

Stockholders' equity
  Common stock: par value $.001; 50,000,000 shares
   authorized; 11,152,688 shares issued and outstanding ........         11,153
  Additional paid in capital ...................................      4,175,734
  Accumulated deficit ..........................................     (3,968,881)
                                                                    -----------
Total stockholders' equity .....................................        218,006
                                                                    -----------
Total liabilities and stockholders' equity .....................    $   433,740
                                                                    ===========

                 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 Nine months
                                                    ended September 30,            ended September 30,
                                                ---------------------------    ---------------------------
                                                    2006            2005            2006          2005
                                                ------------    -----------    ------------    -----------
<S>                                             <C>             <C>            <C>             <C>
Revenues
  Sales revenues ............................   $     99,953    $    38,929    $    245,059    $    90,511
  Cost of sales .............................        119,913         41,626         267,748        117,019
                                                ------------    -----------    ------------    -----------
    Gross profit ............................        (19,960)        (2,697)        (22,689)       (26,508)

Operating expenses
  Consulting fees ...........................          7,288         35,198          46,665        240,438
  Other selling and administrative expenses .        136,556        107,589         377,604        211,774
  Impairment loss ...........................        458,124              -         458,124              -
                                                ------------    -----------    ------------    -----------
    Total operating expenses ................        601,968        142,787         882,393        452,212
                                                ------------    -----------    ------------    -----------

Loss from operations ........................       (621,928)      (145,484)       (905,082)      (478,720)

Interest Income .............................             43              -              43              -
                                                ------------    -----------    ------------    -----------

Net loss ....................................   $   (621,885)   $  (145,484)   $   (905,039)   $  (478,720)
                                                ============    ===========    ============    ===========

Basic and diluted net loss per share ........   $      (0.06)   $     (0.02)   $      (0.09)   $     (0.06)
                                                ============    ===========    ============    ===========

Weighted average number of shares outstanding     10,493,267      8,752,589      10,088,921      8,204,869
                                                ============    ===========    ============    ===========

                               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 Nine Months
                                                          ended September 30,
                                                        ----------------------
                                                          2006          2005
                                                        ---------    ---------
Cash flows from operating activities:
  Net loss ..........................................   $(905,039)   $(478,720)
  Adjustments to reconcile net loss to
   net cash used in operations:
    Depreciation and amortization ...................      17,051       42,347
    Allowance for bad debt ..........................      (3,500)           -
    Stock and warrants issued for services ..........      24,800      143,620
    Stock options issued for services ...............      21,865       34,823
    Impairment loss on film library .................     458,124            -
    Changes in operating liabilities and assets:
      Accounts receivable ...........................      87,414      (15,149)
      Inventory .....................................      (8,875)           -
      Prepaid expense ...............................     (10,870)         483
      Accounts payable and accrued liabilities ......     (74,233)      30,445
      Deferred revenue ..............................       2,551            -
                                                        ---------    ---------
  Net cash used in operations .......................    (390,712)    (242,151)

Cash flows from investing activities:
  Purchase of fixed assets ..........................           -       (6,495)
  Investment in sound library .......................           -     (107,532)
                                                        ---------    ---------
      Net cash used in investing activities .........           -     (114,027)

Cash flows from financing activities:
  Stock issued for cash .............................     608,334      397,982
  Net proceeds from due to stockholders .............      25,399       41,402
                                                        ---------    ---------
      Net cash provided by financing activities .....     633,733      439,384
                                                        ---------    ---------

  Increase (decrease) in cash and cash equivalents ..     243,021       83,206

  Cash and cash equivalents, beginning of period ....      10,590       15,162
                                                        ---------    ---------
  Cash and cash equivalents, end of period ..........   $ 253,611    $  98,368
                                                        =========    =========

Supplemental disclosures of cash flow information:
  Cash paid for interest ............................   $       -    $       -
                                                        =========    =========
  Cash paid for income taxes ........................   $       -    $       -
                                                        =========    =========
Non-cash financing transactions:
  Stock issued for payment of expenses by shareholder   $       -    $  52,028
                                                        =========    =========
  Stock issued services .............................   $  24,800    $ 143,620
                                                        =========    =========
  Stock options issued for services .................   $  21,865    $  34,823
                                                        =========    =========
  Stock issued for acqusition of sound library ......   $       -    $ 100,000
                                                        =========    =========

                 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 nine months ended
September 30, 2006 are not necessarily indicative of the results that may be
expected for the year ending December 31, 2006. For further information, refer
to the financial statements and footnotes thereto included in the Form 10-KSB/A
for the year ended December 31, 2005.

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 September 30, 2006, current assets
exceeded current liabilities by $107,113.

The financial statements have been prepared on the basis that the Company will
continue as a going concern, which contemplates the realization and satisfaction
of liabilities and commitments in the normal course of business. At September
30, 2006 and 2005, the Company had an accumulated deficit of $3,968,881 and
$2,469,819. The Company also realized net losses of $905,039 and $478,720 for
the nine months ended September 30, 2006 and 2005, respectively.

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.

                                        6
<PAGE>

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

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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 - OUTSTANDING WARRANTS

As of September 30, 2006, 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, December 31, 2005 ....................   495,000
         Issued ........................................         -
         Exercised .....................................         -
                                                           -------
         Balance September 30, 2006 ....................   495,000
                                                           =======

On September 29, 2006, the Company consummated the private sale of 666,667
restricted common shares to two (2) accredited investors at a price of $0.35 per
share.

On October 2, 2006, the Company entered into a Consulting Agreement with Cameron
Associates to provide investor relations services. The Company agreed to issue
100,000 restricted common shares in exchange for their services.

On November 13, 2006, the Company consummated the private sale of 333,333
restricted common shares to three (3) accredited investors at a price of $0.35
per share.

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.

                                        7
<PAGE>

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

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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 of
$458,124 was recorded in September, 2006 and $482,165 was recorded in December,
2005.

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 September 30, 2006.

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.

3. INCOME TAXES

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

As of September 30, 2006, the Company has allowable federal net operating loss
carry forwards to offset future taxable income. The federal net operating loss
carry forwards of approximately $1,969,000 will expire during the years 2020
through 2025.

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.

                                        8
<PAGE>

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

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, 2006 through September 30, 2006, 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.

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.

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 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 $28,725 at September 30, 2006.

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.

Revenues recognized during the period ended September 30, 2006 and 2005 related
to licensing agreements of the Company's film library totaled $6,453 and
$17,674. 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.

                                        9
<PAGE>

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

8. AMORTIZATION AND IMPAIRMENT

AMORTIZATION AND IMPAIRMENT OF FILM LIBRARY

During the course of the Company's strategic review of its entertainment
properties, specifically its Howdy Doody film library, the Company assessed the
recoverability of the carrying value of this asset which resulted in impairment
losses of $290,530. This loss reflects the amount by which the carrying value of
this asset exceeds the estimated fair value, determined by its estimated future
discounted cash flows. The impairment loss is recorded as a component of
"Operating expenses" in the Statement of Operations for September 2006.

AMORTIZATION AND IMPAIRMENT OF RECORD MASTER

During the course of the Company's strategic review of its entertainment
properties, specifically its "Songs From The Neighborhood - A Tribute To Mr.
Rogers" record master, the Company assessed the recoverability of the carrying
value of this asset which resulted in impairment losses of $167,594. This loss
reflects the amount by which the carrying value of this asset exceeds the
estimated fair value, determined by its estimated future discounted cash flows.
The impairment loss is recorded as a component of "Operating expenses" in the
Statement of Operations for September 2006.

9. RECENT DEVELOPMENTS

On September 29, 2006, the Company consummated the private sale of 666,667
shares of restricted common stock to two (2) accredited investors, at a price of
$0.35 per share. The total offering price was $233,333.45. 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.

On October 2, 2006, the Company entered into a Consulting Agreement with Cameron
Associates to provide investor relations services. The Company agreed to issue
100,000 restricted common shares in exchange for their services.

On November 13, 2006, the Company consummated the private sale of 333,333 shares
of restricted common stock to three (3) accredited investors, at a price of
$0.35 per share. The total offering price was $116,666.55. 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.

10. SEGMENT REPORTING

The Company has three principal operating segments, which are the design,
development and marketing of (1) branded websites, (2) branded loyalty reward
programs and (3) audio and video products, which are sold in the United States.
These operating segments were determined based on the nature of the products and
services offered. 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
respected segment.

                                       10
<PAGE>

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

10. SEGMENT REPORTING (Continued)

The Company has determined that there are two reportable segments: (1)
entertainment properties, and (2) branded services. The branded websites and
branded loyalty rewards programs were aggregated into one reportable segment
called Branded Services. 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.

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 show the
operations of the Company's reportable segments:
<TABLE>
<CAPTION>
         Nine months ended            Branded    Entertainment  Corporate   Consolidated
         September 30, 2006          Services     Properties     and Elim      Total
-----------------------------------  ---------   -------------  ---------   ------------
<S>                                  <C>           <C>          <C>          <C>
Net Sales .........................  $ 187,165     $  57,894            -    $  245,059

Depreciation & Amortization (2) ...  $   1,674     $  15,377            -    $   17,051

Impairment loss (3) ...............          -     $ 458,124            -    $  458,124

Segment (Loss) Income before taxes   $(235,315)    $(595,720)   $ (74,005)   $ (905,039)

Segment assets (1) ................  $  49,010     $ 137,110    $ 244,589    $  433,740

Expenditures for segment assets (2)          -             -            -             -

<CAPTION>

         Nine months ended            Branded    Entertainment  Corporate   Consolidated
         September 30, 2005          Services     Properties     and Elim      Total
-----------------------------------  ---------   -------------  ---------   ------------
<S>                                  <C>           <C>          <C>          <C>
Net Sales .........................  $  72,837     $  17,674            -    $   90,511

Depreciation & Amortization (2) ...  $  34,493     $   7,854            -    $   42,347

Impairment loss (3) ...............          -             -            -             -

Segment (Loss) Income before taxes   $(274,905)    $ (50,037)   $(153,778)   $ (478,720)

Segment assets (1) ................  $  49,010     $1092,272    $  56,441    $1,197,723

Expenditures for segment assets (2)  $   6,495     $ 107,532            -    $  114,027
</TABLE>
                                       11
<PAGE>

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

10. SEGMENT REPORTING (Continued)
<TABLE>
<CAPTION>
         Three months ended           Branded    Entertainment  Corporate   Consolidated
         September 30, 2006          Services     Properties     and Elim      Total
-----------------------------------  ---------   -------------  ---------   ------------
<S>                                  <C>           <C>          <C>          <C>
Net Sales (4*) ....................  $ 105,545     $  (5,592)*          -    $  99,953

Depreciation & Amortization (2) ...  $     558     $   5,709            -    $   6,267

Impairment loss (3) ...............          -     $ 458,124            -    $ 458,124

Segment (Loss) Income before taxes   $ (83,991)    $ (16,578)   $(621,885)

Segment assets (1) ................  $   5,248     $(496,040)   $ 125,377    $(365,415)

Expenditures for segment assets (2)          -           -            -           -

<CAPTION>

         Three months ended           Branded    Entertainment  Corporate   Consolidated
         September 30, 2005          Services     Properties     and Elim      Total
-----------------------------------  ---------   -------------  ---------   ------------
<S>                                  <C>           <C>          <C>          <C>
Net Sales .........................  $ 33,976      $   4,953            -    $  38,929

Depreciation & Amortization (2) ...  $ 10,314      $   2,898            -    $  13,212

Impairment loss (3) ...............         -              -            -            -

Segment (Loss) Income before taxes   $(63,163)     $ (49,506)   $ (32,815)   $(145,484)

Segment assets (1) ................  $ (1,844)     $ 166,640    $(129,373)   $  35,423

Expenditures for segment assets (2)  $  6,495      $  54,203            -    $  60,698
</TABLE>

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

(2) Corporate property additions and depreciation and amortization expense
    include items attributable to the unallocated fixed assets of support
    divisions and common facilities.

(3) Asset impairment attributable to our strategic review of assets, comparing
    undiscounted cash flows against carrying values See Note (8).

(4) * Negative revenue in Entertainment Properties was a direct result of an
    adjustment for returned merchandise.

                                       12
<PAGE>

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

11. MAJOR CUSTOMERS

During the nine moths ending September 30, 2006, the Entertainment Properties
segment had sales to one customer which represent approximately 30% of all
revenues. During the nine months ending September 30, 2006 the Branded Services
segment had sale to two customers which represent approximately 39% of all
revenues. During the period ending September 30, 2005, there were no major
customers in each of the segments.

12. SUBSEQUENT EVENTS

On October 2, 2006, the Company entered into a Consulting Agreement with Cameron
Associates to provide investor relations services. The Company agreed to issue
100,000 restricted common shares in exchange for their services.

On November 1, 2006, Dennis R. Lane resigned from his position as Director of
the Company. There were no disagreements by the Company or Mr. Lane relating to
the resignation.

On November 13, 2006, the Company consummated the private sale of 333,333 shares
of restricted common stock to three (3) accredited investors, at a price of
$0.35 per share. The total offering price was $116,666.55. 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.

13. RESTATEMENT

The Company restated its financial statements for the year ended December 31,
2005 on Form 10-KSB/A to correct its accounting for an acquisition of a
non-controlling interest in a subsidiary. The restatement resulted in an
increase in total assets and equity in the amount of $30,000, which restatement
had no effect on the results of operations or loss per share.

                                       13
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

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.

Our target markets for sales of our BSP Rewards program and the Brand-A-Port
product include small, medium and large sized companies and organizations that
will be able to utilize our product line. Our target market for reselling our
products and services is to companies that already have an existing sales force
or ability to act as a mass reseller for us. This potential market also includes
Membership Clubs, non-profit organizations, alumni associations, retailers and
corporations and their marketing alliance partners and home based business
sellers and network marketing companies.

We market our products and services primarily through third party resellers who
are paid on a commission basis. We have signed 25 marketing partner agreements
which are non-exclusive and we anticipate that we will sign agreements with
additional resellers in the future. These Agreements generally have a term of
one year with automatic one-year renewals.

                                       14
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                        MEDIANET GROUP TECHNOLOGIES, INC.

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

RESULTS OF OPERATIONS

For the nine months ended September 30, 2006 compared to the nine months ended
September 30, 2005.

During the nine months ended September 30, 2006, we had revenues from operations
of $245,059 and a net loss of $905,039. For the nine months ended September 30,
2005, we had revenues from operations of $90,511 and a net loss of $478,720

Net sales for the nine months ended September 30, 2006 of $245,059 compared to
sales of $90,511 for the nine months ending September 30, 2005, increased
$154,548. Branded Services sales of $187,165 for the nine months ended September
30, 2006 compared to sales of $72,837 for the nine months ended September 30,
2005, increased $114,328. Branded Services sales increased due to increased
sales of existing customer base and sales to new customers resulting from
increased marketing efforts. Entertainment Properties sales of $57,894 for the
nine months ended September 30, 2006 compared to sales of $17,674 for the nine
months ended September 30, 2005, increased $40,220. The increase is attributable
to the sale of the Mr. Rogers CD/DVD which commenced in the fourth quarter of
2005.

Operating expenses for the nine months ended September 30, 2006 were $882,393 as
compared to $452,212 for the nine months ended September 30, 2005, an increase
of $430,181. This significant increase is attributable to a $458,124 impairment
we recorded in September 2006 against our Film Library and Record Master.

Excluding the impairment, operating expenses were $424,269 for the nine months
ended September 30, 2006 as compared to $452,212 for the nine months ended
September 30, 2005, a decrease of $27,943.Consulting fees decreased $193,773;
Professional fees decreased $24,670. Insurance expense increased $9,581; Payroll
expense and related fringe benefits increased $83,760, due to the hiring of key
management and staff (previously retained as consultants); Corporate costs
increased $7,177; Marketing expense increased $71,292; Commission expense
increased $9,889 and Advertising expense increased $8,450.

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 portion which is
provided in services. As of September 30, 2006, deferred revenue amounted to
$28,725 compared to $0 at September 30, 2005.

RESULTS OF OPERATIONS

For the three months ended September 30, 2006 compared to the three months ended
September 30, 2005.

During the three months ended September 30, 2006, we had revenues from
operations of $99,953 and a net loss of $621,885. For the three months ended
September 30, 2005 we had revenues from operations of $38,929 and a net loss of
$145,484..

Net sales for the three months ended September 30, 2006 of $99,952 compared to
sales of $38,929 for the three months ended September 30, 2005 increased
$61,023. Branded Services sales of $105,545 for the three months ended September
30, 2006 compared to sales of $33,976 for the three months ended September 30,
2005, increased $71,569. Branded Services sales increase was due to sales to the
existing customer base and sales to new customers as the BSP program continues
to gain market recognition. Entertainment Properties had negative revenues of
$(5,592) for the three months ended September 30, 2006 compared to sales of
$4,953 for the three months ended September 30, 2005 a decrease of $10,545. This
decrease in revenue was a direct result of an adjustment for returned
merchandise which exceeded our reserve for returns.

                                       15
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

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

Operating expenses for the three months ended September 30, 2006 were $601,968
as compared to $142,787, an increase of $459,181. This significant increase is
attributable to a $458,124 impairment we recorded in September 2006 against our
Film Library and Record Master.

Excluding the impairment, operating expenses were $143,844 for the three months
ended September 30, 2006 as compared to $142,787 for the three months ended
September 30, 2005, an increase of $ 1,057. Consulting fees decreased $27,910;
Professional fees decreased $22,169; Travel expense decreased $7,333. These
decreases were offset by increases in; Insurance expense increased $5,031;
Payroll expense and related fringe benefits increased $10,589, due to the hiring
of key management and staff (previously retained as consultants); Corporate
costs increased $1774; Marketing expense increased $20,191; Commission expense
increased $5,894; Telephone expense increased $1,623; Office expenses increased
$3,964 and Advertising expense increased $8,450.

LIQUIDITY  AND CAPITAL RESOURCES

As of September 30, 2006, we had cash on hand of approximately $253,611. During
the nine months ended September 30, 2006, net cash used in operations was
$390,712, and during the nine months ended September 30, 2005, net cash used in
operations was $242,152. However, our operations are not yet profitable, and we
continue to require additional funding in order to continue business expansion.

Without receiving any additional capital investment management believes we can
continue current business operations, and continue the current gradual expansion
of our operations for the next twelve months, because the web sites, portals and
marketing materials for our various divisions are completed. However, until
operating revenues increase significantly, we may need to seek additional
funding for the purpose of accelerating the expansion of our operations.

PLAN OF OPERATIONS

Our plan of operations is primarily to develop our BSP Rewards business.
Although management believes we have established a base through which we can
continue to grow even without obtaining additional outside working capital,
receipt of such capital would allow us to enhance our existing applications and
commence a speedier and more complete marketing program.

The Company has completed the initial development and beta testing of its BSP
program and has signed Marketing Partner Agreements with various individuals or
companies to sell for the Company on a straight commission basis. The Company
has also signed Agreements with organizations who enroll their members into the
program. Additionally the Company has signed Private Branded Merchant Agreements
with web-based retailers who will give and redeem BSP Rewards and place their
customers into the program as members.

The Company completed market testing of the Mr. Rogers CD/DVD in the fourth
quarter, 2005. We are now 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 gradually expand our operations in all areas during the next 12
months by establishing a base of marketing partners that will allow us to expand
our marketing efforts for the BSP Rewards program, with no increased overhead.
We also intend to direct significant effort toward marketing the Howdy Doody
episode library and the Mister Rogers CD/DVD. Management believes the BSP
Rewards operation currently has the greatest potential for growth and production
of revenue.

                                       16
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

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

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.

ITEM 3.  CONTROLS AND PROCEDURES

     a)  Evaluation of Disclosure Controls and Procedures: As of September 30,
         2006, 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.

     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.


                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

NONE

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

On September 29, 2006, the Company consummated the private sale of 666,667
shares to two (2) accredited investors, at a price of $0.35 per share. The total
offering price was $233,333.45. 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.

On October 2, 2006, the Company issued 100,000 shares of restricted common stock
to Cameron Associates for consulting services at $0.30 per share.

On November 13, 2006, the Company consummated the private sale of 333,333 shares
to three (3) accredited investors, at a price of $0.35 per share. The total
offering price was $116,666.55. 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.

                                       17
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

ITEM 3.  DEFAULT UPON SENIOR SECURITIES

NONE

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

NONE

ITEM 5.  OTHER INFORMATION

NONE

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 November 4, 2006, the Company filed a Form 8-K dated November 1,
            2006 reporting under ITEM 5.02 DEPARTURE OF PRINCIPAL OFFICERS,
            stating Mr. Dennis R. Lane resigned from his position as Director of
            the Company. There were no disagreements by the Company or Mr. Lane
            relating to the resignation.

         o  On October 3, 2006, the Company filed a Form 8-K dated September 29,
            2006 reporting under ITEM 3.02 UNREGISTERED SALE OF EQUITY
            SECURITIES, the registrant consummated the private sale of 666,667
            shares to two (2) accredited investor, at an exercise price of $0.35
            per share.

         o  On November 13, 2006, the Company filed a Form 8-K dated November
            13, 2006 reporting under ITEM 3.02 UNREGISTERED SALE OF EQUITY
            SECURITIES, the registrant consummated the private sale of 333,333
            shares to three (3) accredited investor, at an exercise price of
            $0.35 per share.

                                       18
<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

                                   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: November 14, 2006                By: /s/ Martin Berns
                                           ----------------
                                           Martin Berns
                                           President and Chief Executive Officer

Date: November 14, 2006                By: /s/ James Dyas
                                           --------------
                                           James Dyas
                                           Chief Financial Officer

                                       19