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, 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 November 2, 2007, the following shares were outstanding:  14,121,736

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

<PAGE>

                        MEDIANET GROUP TECHNOLOGIES, INC.

                                   FORM 10-QSB

                        Quarter Ended September 30, 2007

                                Table of Contents

                                                                            Page
                                                                            ----

PART I - FINANCIAL INFORMATION

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

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

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

            Condensed Consolidated Statements of Cash Flows (Unaudited)
            For the Nine Months Ended September 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 ..................  16

   Item 3 - Controls and Procedures ........................................  19


PART II - OTHER INFORMATION

   Item 1 - Legal Proceedings ..............................................  20

   Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds ....  20

   Item 3 - Default upon Senior Securities .................................  20

   Item 4 - Submission of Matters to a Vote of Security Holders ............  20

   Item 5 - Other Information ..............................................  20

   Item 6 - Exhibits and Reports on Form 8-K ...............................  21

Signatures ................................................ ................  23

                                        2
<PAGE>

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

                                                                    September 30
                                                                        2007
                                                                    ------------
                                     ASSETS

Current assets
  Cash and cash equivalents .....................................   $    33,125
  Accounts receivable ...........................................        43,769
  Inventory .....................................................        51,545
                                                                    -----------
Total current assets ............................................       128,439
                                                                    -----------

Property, plant & equipment
  Computer equipment ............................................        39,329
  Accumulated depreciation ......................................       (24,309)
                                                                    -----------
Net property, plant and equipment ...............................        15,020
                                                                    -----------

Other assets
  Trademark .....................................................         2,100
  Film library ..................................................        19,655
  Record master .................................................         5,189
                                                                    -----------
Total other assets ..............................................        26,944
                                                                    -----------

Total assets ....................................................   $   170,403
                                                                    ===========

                    LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current liabilities
  Accounts payable and accrued liabilities ......................   $   301,263
  Deferrred revenue .............................................        93,731
                                                                    -----------
Total current liabilities .......................................       394,994
                                                                    -----------

Stockholders' deficiency
  Common stock: par value $.001; 50,000,000 shares authorized;
  12,921,736 shares issued and outstanding ......................        12,922
  Additional paid in capital ....................................     4,583,684
  Accumulated deficit ...........................................    (4,821,197)
                                                                    -----------
Total stockholders' deficiency ..................................      (224,591)
                                                                    -----------

Total liabilities and stockholders' deficiency ..................   $   170,403
                                                                    ===========

                 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,
                                                ----------------------------    ----------------------------
                                                    2007            2006            2007            2006
                                                ------------    ------------    ------------    ------------
<S>                                             <C>             <C>             <C>             <C>
Revenues
  Sales revenues ............................   $    350,565    $     99,953    $    742,482    $    245,059
  Cost of sales .............................        344,184         119,913         732,700         267,748
                                                ------------    ------------    ------------    ------------
    Gross profit ............................          6,381         (19,960)          9,782         (22,689)

Operating expenses
  Consulting fees ...........................         22,793           7,288          74,586          46,665
  Other selling and administrative expenses .        170,989         136,556         497,534         377,604
  Impairment Loss ...........................              -         458,124          75,522         458,124
                                                ------------    ------------    ------------    ------------
    Total operating expenses ................        193,782         601,968         647,642         882,393

Loss from operations ........................       (187,401)       (621,928)       (637,860)       (905,082)


Interest Income .............................            339              43             722              43
                                                ------------    ------------    ------------    ------------

Net loss ....................................   $   (187,062)   $   (621,885)   $   (637,138)   $   (905,039)
                                                ============    ============    ============    ============

Basic and diluted net loss per share ........   $      (0.02)   $      (0.06)   $      (0.05)   $      (0.09)
                                                ============    ============    ============    ============

Weighted average number of shares outstanding     12,386,410      10,493,267      12,061,539      10,088,921
                                                ============    ============    ============    ============

                                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,
                                                         ----------------------
                                                            2007         2006
                                                         ---------    ---------
Cash flows from operating activities:
  Net loss ...........................................   $(637,138)   $(905,039)
  Adjustments to reconcile net loss to
   net cash used in operations:
    Depreciation and amortization ....................       6,047       17,051
    Allowance for bad debt ...........................           -       (3,500)
    Impairment loss on film library ..................      75,522      458,124
    Stock and warrants issued for services ...........      21,113       24,800
    Stock options issued for services ................      30,500       21,865
    Changes in operating liabilities and assets:
      Accounts receivable ............................     (29,257)      87,414
      Inventory ......................................      (7,863)      (8,875)
      Prepaid expense ................................      24,152      (10,870)
      Accounts payable and accrued liabilities .......     140,496      (74,233)
      Deferred revenue ...............................      62,126        2,551
                                                         ---------    ---------
    Net cash used in operations ......................    (314,302)    (390,712)

Cash flows from investing activities:
  Purchase of fixed assets ...........................     (16,571)           -
                                                         ---------    ---------
    Net cash used in investing activities ............     (16,571)           -

Cash flows from financing activities:
  Stock issued for cash ..............................     185,651      608,334
  Net proceeds from due to stockholders ..............      25,000       25,399
                                                         ---------    ---------
    Net cash provided by financing activities ........     210,651      633,733
                                                         ---------    ---------

  Increase (decrease) in cash and cash equivalents ...    (120,222)     243,021

  Cash and cash equivalents, beginning of period .....     153,346       10,590
                                                         ---------    ---------
  Cash and cash equivalents, end of period ...........   $  33,125    $ 253,611
                                                         =========    =========

                 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, 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 years 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
on 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 acted 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). This
function was merged into BSP Rewards, Inc., on July 1,2007. BSP Rewards, Inc. a
Florida corporation was founded on June 22, 2005.

The Company has developed a loyalty rewards program ("BSP Rewards") and began to
sign member providers and merchants during its initial launch in 2005. 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, 2007, current
liabilities exceeded current assets by $266,555

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
September 30, 2007, the Company had an accumulated deficit of $4,821,197.The
Company also realized net losses of $637,138 and $905,039 for the nine months
ended September 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, if
they voted their shares uniformly, could 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 nine months ended September 30, 2007 was
to record a non-cash compensation expense of $51,613. The adoption of FAS-123R
had no effect on cash flow from operations or cash flow from financing
activities for the nine months ended September 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 September 30, 2007, the Company had outstanding warrants to purchase up to
245,000 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 ..................             -
                    Cancelled ...............      (250,000)
                                                   --------
                    Balance September 30,2007       245,000
                                                   ========

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

                                    Weighted               Weighted
                                     Average             Average Life
          Exercise Price         Exercise Price              Years
          --------------         --------------          ------------
          $0.55 - $1.00              $0.96                     2

As of September 30, 2007, the Company had outstanding options to purchase up to
150,000 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.

                                                   Options
                                                   -------

                    Balance, January 1, 2007        265,000
                    Issued ..................        75,000
                    Exercised/Cancelled .....      (190,000)
                                                   --------
                    Balance September 30,2007       150,000
                                                   ========

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

                                    Weighted                Weighted
                                     Average             Average Life
          Exercise Price         Exercise Price              Years
          --------------         --------------          ------------
          $0.18 - $0.45              $0.36                    4.9


                                        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 nine months ended September 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. During the third quarter ended September 30,
2007 these options were cancelled and the company issued 75,000 restrictive
common shares in exchange for these options. The Company has expensed
approximately $30,500 in SFAS NO 123R expense for the nine months ended
September 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 expensed $3,500 in SFAS NO 123R expense for the nine
months ended September 30, 2007.

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.

                                        9
<PAGE>

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

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

On September 18, 2007, the Company issued as compensation to four of its
employees 125,000 restricted common shares. Alfred Fernandez, Acting Chief
Financial Officer received 75,000 shares; James C Yagielo, Director of Technical
Services received 25,000 shares; Daniel S Mirkovich, on line merchants technical
information support, received 12,500 shares and Melissa M. Emanuelle, Accounts
Manager, received 12,500 shares. A restrictive legend was placed on the
certificates issued. The Company has expensed $3,750 in SFAS NO 123R in the
quarter ended September 30, 2007.

On September 18, 2007, the Company issued as compensation to two of its new
Directors, Brent Gephart and Bruce Hollander, 100,000 restricted common shares
each. A restrictive legend was placed on the certificates issued. The Company
has expensed $6,000 in SFAS NO 123R expense in the quarter ended September 30,
2007.

On September 18, 2007, the Company issued, as consideration for the cancellation
of 400,000 warrants and options. The Company issued 225,000 restrictive common
shares. A restrictive legend was placed on the certificates issued. The Company
has expensed $6,750, representing fifty percent of the fair market value of the
shares, in SFAS NO 123R expense in the quarter ended September 30, 2007.

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.

                                       10
<PAGE>

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

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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 during the nine months ended September 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 September 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.

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, 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 $4,821,197 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.

                                       11
<PAGE>

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

6. CONSULTING AND SALES AGREEMENT

During the period of January 1, 2007 through September 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.

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 $93,731 at September 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.

                                       12
<PAGE>

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

8. TRANSACTION PROCESSING  (Continued)

We processed $5,287,000 of merchant transactions through our on-line web mall
during the nine months ended September 30, 2007 compared to $3,671,000 for the
nine months ended September 30, 2006. The merchant transactions processed
through our on-line web mall produced $728,249 in gross revenue for the BSP
Rewards segment of the Company during the nine months ended September 30, 2007
as compared to $187,165 for the nine months ended September 30, 2006.

9. SEGMENT REPORTING

The Company has two reportable segments: (1) entertainment properties which
include 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.

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>
         Nine Months ended                Branded       Entertainment    Corporate      Consolidated
         September 30, 2007               Services        Properties     And Elim.          Total
         ------------------              ---------      -------------    ---------      ------------
<S>                                      <C>             <C>             <C>             <C>
Net Sales (2) .....................      $ 728,249       $  14,233       $       -       $ 742,482
Depreciation & Amortization (3) ...          5,056          76,513               -          81,569
Segment (Loss) Income before taxes        (466,301)        (84,763)        (86,073)       (637,137)
Segment assets (1) ................        157,181          30,711         (17,489)        170,403
Expenditures for segment assets (3)         16,571               -               -          16,571

<CAPTION>
         Nine Months ended                Branded       Entertainment    Corporate      Consolidated
         September 30, 2006               Services        Properties     And Other          Total
         ------------------              ---------      -------------    ---------      ------------
<S>                                      <C>             <C>             <C>             <C>
Net Sales (2) .....................      $ 187,165       $  57,894       $       -       $ 245,059
Depreciation & Amortization (3) ...          1,674         473,501               -         475,175
Segment (Loss) Income before taxes        (235,314)       (595,720)        (74,005)       (905,039)
Segment assets (1) ................         52,041         137,110         244,589         433,740
Expenditures for segment assets (3)              -               -               -               -
</TABLE>

                                       13
<PAGE>

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

9. SEGMENT REPORING (Continued)
<TABLE>
<CAPTION>
         Three Months ended               Branded       Entertainment    Corporate      Consolidated
         September 30, 2007               Services        Properties     And Elim.          Total
         ------------------              ---------      -------------    ---------      ------------
<S>                                      <C>             <C>             <C>             <C>
Net Sales (2) .....................      $ 345,835       $   4,730       $       -       $ 350,565
Depreciation & Amortization (3) ...          1,856             331               -           2,187
Segment (Loss) Income before taxes        (170,131)          3,108         (20,039)       (187,062)
Segment assets (1) ................        (58,243)         (3,199)         76,638          15,196
Expenditures for segment assets (3)          1,166               -               -           1,166

<CAPTION>
         Three Months ended               Branded       Entertainment    Corporate      Consolidated
         September 30, 2006               Services        Properties     And Elim.          Total
         ------------------              ---------      -------------    ---------      ------------
<S>                                      <C>             <C>             <C>             <C>
Net Sales (2) .....................      $ 105,545       $  (5,592)      $       -       $  99,953
Depreciation & Amortization (3) ...            558           5,709               -           6,267
Segment (Loss) Income before taxes         (83,991)       (521,316)        (16,578)       (621,885)
Segment assets (1) ................          5,248        (496,040)        125,377        (365,415)
Expenditures for segment assets (3)              -               -               -               -
</TABLE>

(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 $576,546 in revenue for the
            nine months ending September 30, 2007, as compared to $118,726 for
            the nine months ended September 30, 2006.

      (b)   BSP Reward program generated $ 151,703 in revenue for the nine
            months ended September 30, 2007, as compared to $68,439 for the nine
            months ended September 30, 2006.

      (c)   Other items generated $14,233 in revenue for the nine months ended
            September 30,2007, as compared to $57,894 for the nine months ended
            September 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 nine months ended September 30,
      2007 this also includes an impairment loss of $75,522 and for the nine
      months ended September 30, 2006 this included an impairment loss of $
      458,124 against our Film Library and Record Master.

                                       14
<PAGE>

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

10. MAJOR CUSTOMERS

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

11. SUBSEQUENT EVENTS

On October 5, 2007 Mr. Larry Lipman resigned as a member of the Board of
Directors of the Company, effective October 2, 2007

On October 5, 2007 the Company announced the election of two new members of the
Board of Directors, effective November 5, 2007. The two new members are Bruce L
Hollander and Brent Gephart. Bruce L. Hollander is the retired Chairman of the
Board, Chief Executive Officer and President of BioLok International, which was
a publicly traded company until its acquisition by a private equity firm in
2006. Mr. Hollander held the positions of CEO and President of BioLok since
1996, and was Chairman since 1998. Prior thereto, Mr. Hollander held executive
management positions in industry and as a consultant, including Kohlberg,
Kravis, Roberts & Co., since 1982.

Previously, he was an executive with Incom International, Rockwell International
and General Electric. Mr. Hollander received a BSIE from the Pratt Institute, a
MSEM from Union College (GE - Co-op.) and is an APICS certified fellow.

Brent Gephart is presently Chief Executive Officer and President of Card
Processing Consultants, Inc., a consultancy serving Fortune 100 banks and other
premier financial institutions, including Fiserv, merchant processing companies
and Fortune 5000 companies. Card Processing Consultants is a registered MSR/ISO
for Royal Bank of Scotland. Prior to his present position, Mr. Gephart served as
Chief Operating Officer and Executive Vice President Sales and Marketing for
Financial Services for Innuity, Inc., where he developed strategic partnerships
with stored value debit card issuers and developed the companies own private
label stored value issuing program. Mr. Gephart developed offshore banking and
acquiring relationships for U.S. merchants pursuing offshore incorporations
(IBCs) in the E.U. and L.A.C.R. Mr. Gephart also served as Executive Vice
President U.S. Corporate Strategy and Alternative Distribution for Moneris
Solutions, Inc., and was previously Director of Marketing and Director of
Corporate Strategy for Chase Merchant Services, the acquiring division of J.P.
Morgan Chase. Additionally, Mr. Gephart attended Visa Bankcard Management School
at Harvard University.

On October 4, 2007, the Company consummated the private purchase of 1,360,834
unregistered shares from one accredited investor, at a price of $0.01 per share.
The total purchase price was $13,308.34. Said shares were cancelled and
accounted for as Treasury stock.

On October 1, 2007 the Company commenced to raise additional capital. As of
November 2, 2007, 1,200,000 shares had been issued at a price of $0.10 per
share.

                                       15
<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

         Nine Months Ended September 30, 2007 as compared to Nine Months Ended
September 30, 2006

         For the nine months ended September 30, 2007, we had revenues from
operations of $742,482, and a net loss of $637,138. For the nine months ended
September 30, 2006, we had revenues from operations of $245,059 and a net loss
of $905,039.

         Branded Services net sales increased $ 595,084 or 318 % to $ 728,249
compared to $187,165 for the nine months ended September 30, 2006.The increase
is attributable to increased sales of gift cards, individual memberships, and an
increase of merchants participating in our web mall.

                                       16
<PAGE>

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

         Entertainment Properties net sales decreased $43,661 or 75 % to $14,233
compared to $57,894 for the nine months ended September 30, 2006. This decrease
is attributable to the reduction of in store advertising.

         Operating expenses for the nine months ended September 30,2007, were
$647,642, compared to $882,393 for the nine months ended September 30, 2006, an
decrease of $234,751.Consulting fees increased $27,921; Insurance expense
increased $12,353; Payroll expense and related fringe benefits increased $52,916
due to the hiring of additional staff; Commission expense increased $44,385;
Telephone expense decreased $681: Rent expense increased $13,312 (due to
increased sq. ft. leased); Office expense decreased $403; Dues and Subscriptions
increased $4,981 and Office Supplies increased $1,788.

         Included in operating expenses for the nine months ended September 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 September 30, 2007 as compared to Three Months Ended
September 30, 2006

         Operating expenses for the three months ended September 30,2007, were
$193,782, a decreased of $ 408,186 from the three months ended September 30,
2006.The operating expenses for the three months ended September 30,2007
principally included consulting fees which increased $15,505; insurance expense
which decreased $2,577; payroll expense and related fringe benefits which
increased $26,777 due to the hiring of additional staff; commission expense
which increased $16,970 and rent expense which increased $5,238.

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 September 30, 2007, deferred revenue
amounted to $93,731.

         As of September 30, 2007, we had cash on hand of approximately $33,125.
During the nine months ended September 30, 2007, net cash used in operations was
$314,302, and during the nine months ended September 30, 2006, net cash used in
operations was $390,712. 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.

                                       17
<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 that 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 sales of 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.

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.

                                       18
<PAGE>

ITEM 3.  CONTROLS AND PROCEDURES

      a) Evaluation of Disclosure Controls and Procedures: As of September 30,
         2007, our management carried out an evaluation, under the supervision
         of our Chief Executive Officer and the Acting 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 the Acting
         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 Acting 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 the Acting
         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.

                                       19
<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. These options were later cancelled in
exchange for restrictive common shares.

         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

                                       20
<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.

      o  On August 31, 2007, the Company filed a Form 8-K dated June 29, 2007
         reporting under ITEM 5.02 - DEPATURE OF PRINCIPAL OFFICER; stating that
         Mr. Steven Adelstein had resigned as Interim Chief Financial Officer.
         The Company also announced the appointment of the current Controller,
         Alfred Fernandez, as Controller and Acting Chief Financial Officer.

      o  On September 4, 2007, the Company filed a Form 8-K reporting under ITEM
         5.02 - DEPATURE OF PRINCIPAL OFFICER; that Mr. Jeffrey Meshel had
         resigned as a member of the Board of Directors of the Company,
         effective August 29, 2007 due to increased obligations to his business
         and the resultant time constraints.

                                       21
<PAGE>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8K (Continued)

      o  On October 5, 2007, the Company filed a Form 8-K reporting under ITEM
         5.02 - DEPATURE OF PRINCIPAL OFFICER; that Mr. Larry Lipman had
         resigned as a member of the Board of Directors of the Company,
         effective October 2, 2007. The Company also announced the appointment
         of two new Members of the Board of Directors effective November 5,
         2007.One of the appointed members, Bruce L. Hollander, Retired Chairman
         of the Board, Chief Executive Officer and President of BioLok
         International. Mr. Hollander has been President and Chief Executive
         Officer of BioLok since 1996, and Chairman of the Board of Directors
         since 1998. Mr. Hollander was sole owner of Lion Wines and Spirits, a
         Florida beverage distributor from 1991 to 1995; and President of B.L.
         Hollander & Associates, a business consultant to a number of companies,
         including Kohlberg, Kravis, Roberts & Co., from 1982 to 1984. Prior to
         1982 he was an executive with Incom International, Rockwell
         International and General Electric. Mr. Hollander received a BSIE from
         the Pratt Institute, a MSEM from Union College (GE - Co-op.) and is an
         APICS certified fellow. Brent Gephart is presently CEO and President of
         Card Processing Consultants, Inc who act as consultants for Fortune 100
         banks including Fiserv, merchant processing companies and Fortune 500
         companies. His company is a Registered MSR/ISO for Royal Bank of
         Scotland. Prior to that, he served as COO and Executive Vice President
         Sales and Marketing for Financial Services for Innuity, Inc. where he
         developed strategic partnerships with stored value debit card issuers
         and developed the companies own private label stored value issuing
         program. He developed offshore banking and acquiring relationships for
         U.S. merchants pursuing offshore incorporations (IBC's) in the E.U. and
         L.A.C.R. Mr. Gephart also served as Executive Vice President U.S.
         Corporate Strategy and Alternative Distribution for Moneris Solutions,
         Inc and was previously Director of Marketing and Director of Corporate
         Strategy for Chase Merchant Services, the acquiring division of J.P.
         Morgan Chase. Additionally, Mr. Gephart attended Visa Bankcard
         Management School at Harvard University.

      o  On October 5, 2007, the Company filed a Form 8-K reporting under ITEM
         8.01 - OTHER EVENTS: that on October 4, 2007 the Company had
         consummated the private purchase from a single individual, of 1,360,834
         of the outstanding common shares of the Company. The shares were
         unregistered and were purchased at a price of .01 per share. Said
         shares were cancelled.

                                       22
<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: November 14, 2007                By: /s/ Martin Berns
                                           ----------------
                                           Martin Berns
                                           President and Chief Executive Officer


Date: November 14, 2007                By: /s/ Alfred Fernandez
                                           --------------------
                                           Alfred Fernandez
                                           Acting Chief Financial Officer

                                       23