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

				      FORM 10-QSB

	(Mark One)
	[x] QUARTERLY REPORT UNDER SECTION 13 OF 15(d)OF THE SECURITIES
	EXCHANGE ACT OF 1934

	For the quarterly period ended December 31, 2006

	[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

	For the transition period from __________ to _________


				Platina Energy Group Inc.
		____________________________________________________________
	   		(Name of Small Business Issuer in its charter)

					Delaware
		____________________________________________________________
	     (State or other jurisdiction of incorporation or organization)

				   84-1080043IRS
		____________________________________________________________
				(Employer Identification No.)

			      1807 Capitol Ave. Suite 101 - I
				   Cheyenne, WY 82001
		____________________________________________________________
			(Address of principal executive offices)

				    (307)  637-3900
		____________________________________________________________
				(Issuer's telephone number)

		____________________________________________________________
	(Former name, former address, and former fiscal year, if changed since last
	report)

	Indicate by check mark whether the Issuer (1) has filed all reports required
	to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
	during the preceding 12 months (or for such shorter periods 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

	Indicate the number of shares outstanding of each of the issuer's classes
	of common stock, as of the latest practical date:

	Common Stock, $.001 Par Value, 22,130,031 shares as of February 20, 2007:



					(1)




<page>


				Platina Energy Group INC.
		(Formerly Federal Security Protection Services, Inc.)


TABLE OF CONTENTS

Page PART I--FINANCIAL INFORMATION
Item 1.  Financial Statements------------------------------------------ 3
Consolidated Balance Sheet--------------------------------------------- 3
Consolidated Statement of Operations----------------------------------- 4
Consolidated Statements of Cash Flows---------------------------------- 5
Notes to Financial Statements------------------------------------------ 7
Item 2.  Management's Discussion and Analysis or Plan of Operation----- 15
PART II  OTHER INFORMATION--------------------------------------------- 16
Item	1.  Legal Proceedings------------------------------------------ 16
Item	2.  Unregistered Sales of Equity Securities & Use of Proceeds-- 16
Item	3.  Defaults Upon Senior Securities---------------------------- 16
Item	4.  Submission of Matters to a Vote of Security Holders-------- 16
Item	5.  Other Information------------------------------------------ 16
Item	6.  Exhibits and Reports--------------------------------------- 16
Signatures------------------------------------------------------------- 17


					(2)


<page>


PART I--FINANCIAL INFORMATION

Item	1.  Financial Statements.

<TABLE>
PLATINA ENERGY GROUP INC.
CONSOLIDATED BALANCE SHEETS
<CAPTION>
								Dec 31
								-----------
								2006
								(Unaudited)

<S>    								<C>

Assets

	Current Assets

Property and equipment (net of accumulated
	depreciation of $13,786)			$	    50,410

Other assets
	Investment in option					    32,400
	Intangible asset subject to amortization		   260,625
								-----------

		Total assets				$	   343,435
								-----------


Liabilities and Stockholders' deficit

  Current liabilities
	Bank overdraft					$	         9
	Accounts payable and accrued expenses			    53,939
	Accrued compensation due officers			   329,000
	Notes payable to related parties			   507,562
	Notes payable - other 					   134,332
								-----------
		Total current liabilities		         1,024,842


Commitments and Contingencies

Stockholders' Deficit
	Preferred stock, par value of $.001,
	 20,000,000 shares authorized;
	 70,000 shares designated as Series A, no
	 shares issued and outstanding. Aggregate
	 liquidation preference of $100,000. One
	 share of Series A preferred convertible
	 into ten shares of common stock.			         0
	Preferred stock, 100,000 shares designated
	 Series B, 15,000 shares issued and outstanding.
	 Aggregate liquidation preference of
	 $1,500,000. One share of Series B preferred
	 is convertible into 100 shares of common stock. 		15
	Preferred stock, 10,000 shares designated
	 Series C and 3,600 shares issued and outstanding
	 at Dec 31, 2006. Aggregate liquidation
	 preference of $360,000. One share of Series C
	 preferred is convertible into 100 shares of
	 common stock.		       		         		 0
	Common stock; $.001 par value; 100,000,000
	 shares authorized; 20,080,031 shares issued
	 and outstanding.					    20,080
	Additional paid in capital				 6,198,374
	Accumulated deficit					(6,899,880)
								-----------
Total stockholders' deficit					  (681,407)

Total liabilities and stockholders' deficit		$	   343,435
								-----------

</TABLE>


					- Unaudited -

	The accompanying notes are an integral part of these financial statements


					(3)

<page>

<TABLE>
PLATINA ENERGY GROUP INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
<CAPTION>


								Three Months Ended	Three Months Ended	Six Months Ended	Six Months Ended
								Dec 31,			Dec 31,			Dec 31,			Dec 31,
								2006			2005			2006			2005
								-----------		-----------		-----------		-----------
								(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
											(restated)					(restated)

<S>    								<C>    			<C>			<C>			<C>

Net Revenue 		 				$	   7,400	$	-		$	   7,400	$	   4,900

Operating Expenses
	Testing costs associated with Thermal Pump 		- 			-			-			 109,242
	General and administrative expenses		 	  74,985		  65,845		 205,056		 439,338
	Consulting fees, non-cash				 150,000		-			 150,000		-
			 					-----------		-----------		-----------		-----------
				 				 224,985		  65,845		 355,056		 548,580

Loss from operations						(217,585)		 (65,845)		(347,656)		(543,680)

Other Income (Expense)
	 Interest expense 		 		$	 (14,982)  	$	 (11,689)	$	 (42,159)	$	 (33,430)
	 Loss on settlement of debt				 (28,012)		-			 (28,012)		-
								-----------		-----------		----------		----------
								 (42,994)		 (11,689)		 (70,171)		 (33,430)
								-----------		-----------		----------		----------


Net Loss						$	(260,579)  	$	 (77,534)	$	(417,827)	$	(577,110)
								-----------		-----------		-----------		-----------


Per share data
	Basic loss per share				$	  (0.01)	  $	  (0.00)	$	  (0.02)	$	  (0.03)
								-----------		-----------		-----------		-----------

	Weighted average common shares
	 outstanding						19,340,424		17,629,731		18,205,207		16,529,822
								-----------		-----------		-----------		-----------

</TABLE>

					- Unaudited -

	The accompanying notes are an integral part of these financial statements


					(4)

<page>


<TABLE>
PLATINA ENERGY GROUP INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
<CAPTION>

									Three Months Ended	Three Months Ended
									Sept 30,		Sept 30,
									2006			2005
									-----------		-----------
									(Unaudited)		(Unaudited)
												(restated)

<S>    									<C>    			<C>


Cash Flows from Operating Activities
  Net Loss							$	(417,827) 	$	(577,110)
  Adjustments to reconcile net loss to
   net cash used in operating activities:
	Amortization							  37,232		  37,234
	Depreciation expense						   6,353		   5,335
	Loss on settlement of debt					  28,012
	Common stock issued for services				 150,000		  22,000
	Changes in assets:
	 	Deposits						   1,312		  (1,312)
	Changes in liabilities
		Increase (decrease) in accounts payable
		 and accrued expenses					(31,259)		 111,952
		Increase in accrued compensation
		 due related parties					 54,000			  89,000
		Increase in short-term borrowings			 42,159			  33,303
									-----------		-----------

	Net cash used in operating activities	       		       (130,018)		(279,598)
									-----------		-----------


Cash Flows from Investing Activities
	Cash advance for license purchase				      -			 (10,000)
	Purchase of equipment						 (7,432)		 (56,764)
									-----------		-----------

		Net cash used in investing activities			 (7,432)		 (66,764)
									-----------		-----------


Cash Flows from Financing Activities
	Proceeds from sale of common stock				 61,250			 255,000
	Offering costs							      -			 (21,450)
	Advances from related parties					 71,500			 155,851
	Repayment of related party advances				 (1,500)		 (62,000)

									-----------		-----------

		Net cash provided by financing activities		 131,250		 327,401
									-----------		-----------


Net Increase (Decrease) in Cash and Cash Equivalents			  (6,200)		 (18,961)

Cash and Cash Equivalents - Beginning of Period				       -		  24,077
									-----------		-----------


Cash and Cash Equivalents - End of Period			$	       -	$	   5,116
									-----------		-----------

</TABLE>



	The accompanying notes are an integral part of these financial statements

					(5)

<page>



<TABLE>
PLATINA ENERGY GROUP INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS - Continued
<CAPTION>
									Three Months Ended	Three Months Ended
									Dec 31,		 	Dec 31,
									2006			2005
									-----------		-----------
									(Unaudited)		(Unaudited)

<S>    									<C>    			<C>

Supplemental Disclosures of Cash Flow Information

	Cash paid during the year for:

		Interest Expesne				$	-		$	-
		Income Taxes					$	-		$	-

</TABLE>


Non-Cash financing and Investing information:

On April 6, 2005, the Company completed its purchase of rights and licenses
from Permian Energy Services LP in connection with the marketing of a
certain pump in the oil and gas industry. In consideration for the assets
purchased, the Company agreed to issue 2,250,000 shares of its common stock
and pay $250,000 as evidenced by a promissory note. Of the 2,250.000 shares
issued, 2,025,000 shares were returned in April 2006, pursuant to a settlement
agreement with the Company and Permian Energy Group LP. In addition, the
Company issued a consultant 750,000 in connection with the asset purchase. The
Company did not assign any value to the 2,250,000 shares due to the fact that
the issuance of these shares had no commercial substance. The Company assigned
the value of 750,000 shares at the market price on the effective date of the
asset purchase of $97,500. Therefore the license was valued at $347,500
($250,000 obligation under the note and the fair value of the 750,000 shares
of $97,500 - see Note 3 to the financial statements).

On May 30, 2005, a note holder converted $10,070 of indebtedness due him
by the Company into 53,000 shares of the Company's common stock.

On June 23, 2005, a preferred stockholder converted 10,000 shares of Series
A preferred stock into 100,000 shares of the Company's common stock.

On June 23, 2005, a preferred stockholder converted 3,800 shares of Series
C preferred stock into 380,000 shares of the Company's common stock.

As discussed above, in April 2006, the Company entered into a settlement
agreement with Permian Energy Group LP under which 2,025,000 shares of the
Company's common stock were returned to the Company for cancellation and
paid the LP $53,823 of which $38,923 was charged against the balance owed
the LP for past services and $14,900 was charged to operations.  The Company
also agreed to assign the remaining balance of the Obligation due the LP
($227,640, including accrued interest) to a corporation wholly owned by the
Company's President (See Notes 3 and 5 to the financial statements).

In September 2006, 5,000 shares of the Company's Class B Preferred Shares were
converted into 500,000 shares of the Company's common stock.

In October 2006, a note holder converted $35,015 of indebtedness due him by the
Company into 700,300 shares of the Company's common stock. The Company
recognized a $28,012 loss on the conversion.

On October 12, 2006, the Company issued 3,600 shares of its Series C Preferred
Stock in exchange for a 90-day option to acquire certain oil and gas leases in
Floyd and Briscoe Counties, Texas. The option is valued at $32,400 and can be
extended for an additional 90-day period.

In November 2006, the Company issued 1,250,000 shares of its common stock in
payment of a service agreement with Wallstreet Direct, Inc. The services
received were valued at $150,000.



 	The accompanying notes are an integral part of these financial statements



					(6)

<page>

PLATINA ENERGY GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


Note 1.  Basis of Presentation and Organization

Organization and Business

Platina Energy Group, Inc. ("the Company"), a Delaware Corporation, was
incorporated on January 19, 1988 as Windom, Inc. After several failed
business attempts, the Company changed its name to Federal Security
Protection Services, Inc. on March 12, 2002 and acquired Iris Broadband,
Inc. on September 6, 2002.  The Company reversed its merger with Iris
Broadband, Inc. in 2003 and, as a result, discontinued business operations.
On June 15, 2005, the Company changed its name to Platina Energy Group Inc.

On March 30, 2005, the Company formed Permian Energy International, a Nevada
Corporation and acquired all of its outstanding common stock. On April 6,
2005, the Company completed its purchase of rights and licenses from Permian
Energy Services LP in connection with the marketing of a certain proprietary
thermal pulsing pump in the oil and gas industry.  The assets acquired from
the LP were transferred into Permian Energy International.

Basis of Presentation

The accompanying interim financial statements have been prepared by the
Company pursuant to the rules and regulations of the Securities and
Exchange Commission (the "SEC") for interim financial reporting. These
interim financial statements are unaudited and, in the opinion of management,
include all adjustments (consisting of normal recurring adjustments and
accruals) necessary to present fairly the balance sheet, operating results
and cash flows for the periods presented in accordance with accounting
principles generally accepted in the United States of America ("GAAP").
Operating results for the nine months ended December 31, 2006 are not
necessarily indicative of the results that may be expected for the year
ending March 31, 2007 or for any other interim period during such year.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with GAAP have been omitted in accordance
with the rules and regulations of the SEC. These interim financial statements
should be read in conjunction with the audited financial statements and
notes thereto contained in the Company's Form 10-KSB for the year ended
March 31, 2006.

The Company's financial statements are prepared using the accrual method of
accounting in accordance with accounting principles generally accepted in
the United States of America and have been prepared on a going concern
basis, which contemplates the realization of assets and the settlement of
liabilities in the normal course of business. The Company has sustained
operating losses since its inception (January 19, 1988).  In addition, the
Company has used substantial amounts of working capital in its operations.
At December 31, 2006 current liabilities exceeded current assets by
approximately $1,025,000, and the Company has an accumulated deficit amounting
to approximately $6,900,000.

In view of these matters, the continuation of the Company's operations is
dependent on funds advanced by its management and the raising of capital
through the sale of its equity instruments or issuance of debentures.
Management has purchased certain rights and licenses from Permian Energy
Services LP ("Permian"), a related party (see Notes 3 & 6), in connection
with the marketing of a proprietary thermal pulsing pump in the oil and gas
industry. Although Management believes the marketing of the pump will be
successful and should generate sufficient revenue to fund the Company's
future operations, no assurances can be made that the marketing of the
pump will be successful or that the Company will be able to raise capital
through other sources enabling it to continue funding operations. These
financial statements do not include any adjustments relating to the
recoverability and classification of recorded assets or liabilities that
might be necessary should the Company be unable to continue as a going concern.

					(7)

<page>


Restatement of December 31, 2005 Net Loss

The accompanying statements of operations for the three months and nine months
ended December 31, 2005 have been restated to reflect amortization of certain
licensing rights as of December 31, 2005. These licensing rights were
originally capitalized on April 5, 2005 and determined to have an indefinite
useful life. The restated financial statements reflect amortization over an
estimated useful life of seven years (see Note 3).

A reconciliation of the net loss as restated for the three months ended
December 31, 2005 is as follows:

	Net loss as originally reported		$	(65,123)
	Amortization of licensing rights		(12,411)
		Net loss as restated		$    	(77,534)

	 Net loss per share:
		As originally reported		$	  (0.00)
		Adjustment for increased expense	  (0.00)

		As restated			$	  (0.00)


A reconciliation of the net loss as restated for the nine months ended
December 31, 2005 is as follows:

	Net loss as originally reported		$      (539,876)
	Amortization of licensing rights		(37,234)
		Net loss as restated		$      (577,110)

	 Net loss per share:
		As originally reported		$	 (0.03)
		Adjustment for increased expense	 (0.03)

		As restated			$	 (0.00)

In addition, the accompanying consolidated statement of cash flows for the
nine months ended December 31, 2005 has been restated to reflect the above
adjustment.


Note 2.  Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of
the Platina Energy Group Inc. and its wholly owned subsidiary, Permian
Energy International, Inc. Intercompany transactions and balances have been
eliminated in consolidation.

Use of Estimates

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

Cash Equivalents

For purposes of the statements of cash flows, the Company considers cash
equivalents to include highly liquid investments with original maturities
of three months or less.

Property and Equipment

Property and equipment are stated at cost.  Major renewals and improvements
are charged to the asset accounts while replacements, maintenance, and repairs
that do not improve or extend the lives of the respective assets are expensed.
At the time property and equipment are retired or otherwise disposed of, the
asset and related accumulated depreciation accounts are relieved of the
applicable amounts. Gains or losses from retirements or sales are credited or
charged to income.

Equipment consisted of the Company's thermal pump (which was acquired in 2005)
and computer and phone equipment, which were depreciated over their estimated
useful lives using the straight-line method. Depreciation expense for the
three months ended December 31, 2006 and 2005 amounted to $2,299 and $2,027,
respectively. Depreciation expense for the nine months ended December 31,
2006 and 2005 amounted to $6,353 and $5,335, respectively.



					(8)

<page>

Revenue recognition

The Company recognizes revenue in accordance with Staff Accounting Bulletin
("SAB") No. 101, "Revenue Recognition in Financial Statements," as revised
by SAB No. 104. As such, the Company recognizes revenue when persuasive
evidence of an arrangement exists, title transfer has occurred, the price is
fixed or readily determinable and collectibility is probable. Sales are
recorded net of sales discounts.

In September 2006, the Company entered into an agreement to lease its thermal
pulsing pump for one year at $3,700 per month. Pursuant to the lease
agreement, the Company received an advance payment of $7,400 and is required
to make certain modification to the pump's vessel. As of December 31, 2006,
the Company incurred $7,432 in costs associated in the vessel upgrade. The
upgrade was completed in October 2006, and the lease commenced in November
2006. The costs of the vessel upgrades are being depreciated over the pump's
remaining expected useful life of approximately 6 years. During the
three-months ended December 31, 2006, the Company recognized rental income
of $7,400.

Long-Lived Assets

The Company accounts for its long-lived assets in accordance with SFAS No.
144, "Accounting for the Impairment or Disposal of Long-Lived Assets."  SFAS
No. 144 requires that long-lived assets be reviewed for impairment whenever
events or changes in circumstances indicate that the historical cost carrying
value of an asset may no longer be appropriate. The Company assesses
recoverability of the carrying value of an asset by estimating the future net
cash flows expected to result from the asset, including eventual disposition.
If the future net cash flows are less than the carrying value of the asset, an
impairment loss is recorded equal to the difference between the asset's
carrying value and fair value or disposable value. As of December 31, 2006,
the Company did not deem any of its long-term assets to be impaired.

Income Taxes

The Company accounts for income taxes under the provisions of SFAS No.
109, "Accounting for Income Taxes." Under SFAS No. 109, deferred tax assets
and liabilities are recognized for future tax benefits or consequences
attributable to temporary differences between the financial statement carrying
amounts of existing assets and liabilities and their respective tax bases.
Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. A valuation allowance
is provided for significant deferred tax assets when it is more likely than
not that such assets will not be realized through future operations.

The Company has total net operating loss carryforwards at December 31, 2006
of approximately $6,900,000 for federal income tax purposes. These net
operating losses have generated a deferred tax asset of approximately
$2,340,000 on which a valuation allowance equaling the total tax benefit has
been provided due to the uncertain nature of it being realized. Net operating
loss carryforwards expire in various years through March 31, 2027 for federal
tax purposes.


Net Loss per Share

The Company adopted the provisions of SFAS No. 128, "Earnings Per Share"
("EPS"). SFAS No. 128 provides for the calculation of basic and diluted
earnings per share. Basic EPS includes no dilution and is computed by dividing
income or loss available to common shareholders by the weighted average number
of common shares outstanding for the period. Diluted EPS reflects the
potential dilution of securities that could share in the earnings or losses of
the entity, arising from the exercise of options and warrants and the
conversion of convertible debt. If such shares were included in diluted
EPS, they would have resulted in weighted-average common shares of 27,410,814
and 24,304,731 for the three months ended December 31, 2006 and 2005,
respectively and 26,275,660 and 23,393,913 for the nine months ended December
31, 2006 and 2005.

Fair Value of Financial Instruments

The Company's financial instruments consist of cash and cash equivalents,
accounts payable, accrued expenses, and notes payable. Pursuant to SFAS
No. 107, "Disclosures About Fair Value of Financial Instruments," the Company
is required to estimate the fair value of all financial instruments at the
balance sheet date. The Company considers the carrying values of its financial
instruments in the financial statements to approximate their fair values.



					(9)

<page>


Note 3. Acquisition of Licensing Rights

On April 6, 2005, the Company completed its purchase of rights and licenses
from Permian Energy Services LP, a related party, in connection with the
marketing of a certain pump in the oil and gas industry. In consideration for
the assets purchased, the Company originally agreed to issue 2,250,000 shares
of its common stock and pay $250,000 as evidenced by a promissory note with
interest accruing at an annual rate of 6%. Under the terms of the note,
accrued interest is due one year from the date of the Note and all principal
and additional accrued interest is due two years from the date of the note.
Throughout much of fiscal 2006, the Company was in dispute with the President
of Permian International, Inc. on certain amounts due to him. The Company
valued the intangible assets purchased at $347,500, which consists of the
$250,000 obligation plus the fair value of the 750,000 shares issued to a
consultant in connection with the acquisition. The Company valued the shares
issued as of April 6, 2005 (See Note 5).

In April 2006, the Company entered into a settlement agreement with Permian
Energy Services L.P. and Robert Clark ("Clark"), the former president of
Permian Energy International Inc. Under the terms of the settlement
agreement, the Company has agreed to dismiss its lawsuit against Clark. The
Company has also agreed to pay Clark $53,823 in exchange for Clark returning
the 2,025,000 shares it received under the April 6, 2005 asset purchase
agreement and cancelling the $214,963 obligation due it.

In order to bring the negotiations with Clark to a successful conclusion,
Wyoming Energy Corp. had to return to Permian Energy Services LP, its
10% ownership interest in the LP. In consideration for the loss of Wyoming's
interest in the LP, the Company transferred its obligation to the LP to
Wyoming under the same terms and conditions. Wyoming Energy Corp. is
wholly-owned by the Company's president.

Clark also agreed not to engage in the business of providing downhole oil or
gas well stimulation as referenced and defined in the PES-BI-Comp agreement,
which was assigned to the Company by Clark in April 2005 pursuant to the Asset
Purchase Agreement for a period of three years.

The Company is amortizing the licensing rights over its expected useful life
of seven years. Amortization expense charged to operations for the three
months ended December 31, 2006 and 2005 amounted to $12,411 and $12,411,
respectively. Amortization expense charged to operations for the nine months
ended December 31, 2006 and 2005 amounted to $37,232 and $37,234, respectively.


Estimated amortization expense is as follows:

Year ending December 31,

		2007		$    49,643
		2008		     49,643
		2009		     49,643
		2010		     49,643
		2011		     49,643
		2012		     12,410
				    -------
				$   260,625




					(10)

<page>


Note 4. Investment in Option

In October 2006, the Company issued 3,600 shares of its Class C convertible
preferred stock in exchange for an option to acquire certain oil and gas
leases situated on 3,600 acres in Floyd County, Texas. The option expired in
January 2007. Under the option agreement, the Company can pay $54,000 to
extend the option period for an additional 90 days. Of the $54,000 payment,
$45,000 will be allocated to the full $390,000 purchase price of the leases.
The 3,600 shares of Class C preferred stock were valued at $32,400 based on
the market price of the underlying common shares on which the preferred shares
can be converted into on the date of issuance.


Note 5. Notes Payable - Other

The Company owed four individuals a total of $134,332 as of December 31, 2006,
including accrued interest. The loans are assessed interest at an annual rate
of 12% and are evidenced by four separate promissory notes. Interest charged
to operations on these obligations during the three months ended December 31,
2006 and 2005 totaled $4,087 and $4,130, respectively. Interest charged to
operations on these obligations during the nine months ended December 31, 2006
and 2005 totaled $13,573 and $13,911, respectively.

Under the terms of the modified loan agreements, until the loans and accrued
interest are paid in full, each holder has the right to convert the obligation
due them, including accrued interest, into shares of the Company's common
stock at a price per share equal to the average of the bid price of the
Company's common stock for the thirty day trading period prior to the written
notice of conversion. In May 2005, a note holder converted $10,070 of
indebtedness due him by the Company into 53,000 shares of the Company's common
stock. In October 2006, a note holder converted $35,015 of indebtedness due
him by the Company into 700,300 shares of the Company's common stock. The four
indicated notes matured on February 28, 2006 and are in default.


Note 6. Due to Related Parties

Note Payable to Affiliate

As discussed in Note 3, Wyoming Energy Corp, a corporation wholly owned by the
Company's President, returned its 10% interest in Permian Energy Services LP
in order to bring the settlement with Permian to a successful conclusion. In
consideration for the loss of Wyoming's interest in the LP, the Company
transferred its obligation to the LP to Wyoming under the same terms and
conditions.

Under the terms of the note, accrued interest was due on April 5, 2006, which
was one year from the date of the note. All principal and additional accrued
interest is due two years from the date of the note, April 5, 2007. Interest
accrued and charged to operations on this obligation accruing during the three
months ended December 31, 2006 and 2005 totaled $3,518 and $3,224,
respectively. Interest accrued and charged to operations on this obligation
accruing during the nine months ended December 31, 2006 and 2005 totaled
$10,398 and $9,452, respectively. The total balance of this obligation at
December 31, 2006 is $238,039. The Company failed to pay the accrued interest
when due and the note is currently in default.

Note Payable to Officer

As of December 31, 2006, the Company owed its President for a total of
$269,523 under various loan obligations, including accrued interest. The
loans are assessed interest at an annual rate of 12% and are evidenced by a
promissory note. Interest charged to operations for the three months ended
December 31, 2006 and 2005 on these loans totaled $7,378, and $4,334,
respectively. Interest charged to operations for the nine months ended
December 31, 2006 and 2005 on these loans totaled $18,188 and $7,729,
respectively In addition, under the terms of the loans, until the principal
loans balance and accrued interest are paid in full, the President has the
right to convert the obligation due him, including accrued interest, into
shares of the Company's common stock at a price per share equal to the
average of the bid price of the Company's common stock for the thirty day
trading period prior to the written notice of conversion.

During the nine months ended December 31, 2006, the Company's President
advanced it a total of $71,500 and the Company repaid a total of $1,500.



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Note 7. Shareholders' Deficit

Preferred Stock

In September 2006, 5,000 shares of the Company's Series B Preferred Stock
were converted into 500,000 shares of the Company's common stock.

On October 12, 2006, the Company issued 3,600 shares of its Series C Preferred
Stock in exchange for a 90-day option to acquire certain oil and gas leases in
Floyd and Briscoe Counties, Texas. (See Note 3)

Common Stock

In April 2006, the Company issued a total of 1,225,000 shares of its common
stock in exchange for $61,250.

In April 2006, Clark returned the 2,025,000 shares of the Company's common
stock as required in the April 5, 2006 settlement agreement (See Note 3).
These shares were subsequently cancelled by the Company.

In October 2006, the Company issued a total of 700,300 shares of its common
stock in payment of debt to a note holder in the amount of $35,015
(see Note 4). The aggregate fair value of the shares issued was $63,027;
accordingly, the Company recorded a $28,012 loss on settlement of debt.

In November 2006, the Company issued a total of 1,250,000 shares of its common
stock in payment of a service agreement with Wallstreet Direct, Inc. The
services received were valued at $150,000.

Stock Warrants

At December 31, 2006, there were total warrants outstanding to purchase
1,625,000 shares of common stock at $0.50, and 1,625,000 shares of common
stock at $1.00. There were no warrants issued during the three-months ended
December 31, 2006.

Employee Stock Option Plan

On March 25, 2005, the Company established a stock option plan for officers,
directors, employees and consultants. Under the plan, certain options issued
will constitute "Incentive Stock Options" within the meaning of section 422A
of the Internal Revenue Code, and other options issued will be deemed
nonstatutory. The Company's Board of Directors is responsible for the plan
and the granting of the options. The number of common shares reserved to be
issued through the plan is 3,000,000. Options are exercisable for as period up
to ten years from the date of grant. The Company's Board of Directors decides
the actual term of each option. Options granted to employees are subject to a
vesting schedule based upon the number of years of continuous service that the
employee has with the Company from the grant date of the respective option.
After three years of continuous service from the date of grant, the respective
options held by an employee are fully vested. The price for shares issued
through the exercise of incentive stock options are at fair market value for
all employees with the exception of employees who are significant
shareholders, who will pay no less than 110% of market value. The price for
shares issued through the exercise of nonstatutory options shall be decided
by the Company's Board, but at a price no less than 100% of the shares market
value at date of grant.

As of December 31, 2006, the Company had outstanding stock options granted to
its management to purchase 3,525,000 shares of the Company's common stock at
a price of $.15 per share. The options expire in April 2007.

Option activity for the nine months ended December 31, 2006 is as follows:

										Weighted
										Average
				  		  	   Options		Exercise
							Outstanding 		   Price
							-----------		--------
Balance - March 31, 2006		  		  3,525,000		   $ .15
Options issued				 		      -                        -
Options cancelled  			 		      -                        -
Balance - December 31, 2006		  		  3,525,000		   $ .15



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Note 8. Related Parties

Stock Options

The Company had granted stock options to related parties to purchase shares of
the Company common stock. As of December 31, 2006, the 3,525,000 stock
options outstanding were all issued to related parties (see Note 6).

Noncash Transactions

For the three months ended December 31, 2006 and 2005, the Company accrued
$18,000 and $18,000, respectively, for compensation due its officers for
services rendered. For the nine months ended December 31, 2006 and 2005, the
Company accrued $54,000 and $94,534, respectively, for compensation due its
officers for services rendered. The balances due to these officers at December
31, 2006 totaled $329,000.


Note 9. Commitments and Contingencies

Operating Leases

The Company leases its Cheyenne office on a month-to-month basis, payable in
monthly installments of $340 per month, beginning November 15, 2006. Rent
expense for three months ended December 31, 2006 and 2005 was $636 and $3,936,
respectively. Rent expense for nine months ended December 31, 2006 and 2005
was $5,466 and $16,403, respectively.


Note 10. Subsequent Events

On January 8, 2007 the company issued 22,500 shares of its Series B Preferred
Stock to Tri Global Holdings, LLC, in payment of an Asset Purchase Agreement.
The Company entered into the agreement to purchase oil and gas leases to
thirty to thirty five drilling locations on approximately 1,600 acres in the
Devonian Black Shale formation located in the Appalachian Basin in East
Tennessee. However, if the Company does not have $1,000,000 to fund the
development of the assets purchased by March 15, 2007, Tri Global Holdings,
LLC has the right to reverse the transaction.

On January 9, 2007, the Company issued 75,000 shares of its common stock to
Crescent Funding, LLC in payment of a consulting agreement. The agreement
commenced February 5, 2007 and is for a six month term.

On January 12, 2007, the Company a $50,000 loan from an unrelated party.
The loan is due the earlier of (i) the closing of an offering to raise a
minimum of $800,000 or (ii) July 1, 2007 and bears interest at 10% per annum.
In conjunction with the loan, the Company issued 50,000 shares of its common
stock to the lender in payment of a loan placement fee.

As discussed in Note 4, the Company paid $54,000 on January 14, 2007 to extend
the option to purchase certain oil and gas leases. The new option expires on
April 14, 2007. The major source of the $54,000 payment came from the $50,000
loan as discussed above.

On February 9, 2007, the Company issued 25,000 shares of the Company's Series
B Preferred Stock in exchange for the acquisition of oil and gas leases and
options comprising of approximately 20,000 acres located in Palo Doro Basin,
Texas and oil and gas leases located on 372 acres in Young Texas, under the
option described above in Note 6. If the Company does not have $800,000 to
fund the development of the assets purchased by March 15, 2007, the seller has
the right to reverse the transaction.

On January 9, 2007, the Company issued 75,000 shares of its common stock to
Crescent Funding, LLC in payment of a consulting agreement. The agreement
commenced February 5, 2007 and is for a six month term.



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<page>



Item 2. Management's Discussion and Analysis or Plan of Operations

THIS FOLLOWING INFORMATION SPECIFIES CERTAIN FORWARD-LOOKING STATEMENTS OF
MANAGEMENT OF THE COMPANY. FORWARD-LOOKING STATEMENTS ARE STATEMENTS THAT
ESTIMATE THE HAPPENING OF FUTURE EVENTS AND ARE NOT BASED ON HISTORICAL FACT.
FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING
TERMINOLOGY, SUCH AS "MAY", "SHALL", "COULD", "EXPECT", "ESTIMATE",
"ANTICIPATE", "PREDICT", "PROBABLE", "POSSIBLE", "SHOULD", "CONTINUE", OR
SIMILAR TERMS, VARIATIONS OF THOSE TERMS OR THE NEGATIVE OF THOSE TERMS. THE
FORWARD-LOOKING STATEMENTS SPECIFIED IN THE FOLLOWING INFORMATION HAVE BEEN
COMPILED BY OUR MANAGEMENT ON THE BASIS OF ASSUMPTIONS MADE BY MANAGEMENT AND
CONSIDERED BY MANAGEMENT TO BE REASONABLE. OUR FUTURE OPERATING RESULTS,
HOWEVER, ARE IMPOSSIBLE TO PREDICT AND NO REPRESENTATION, GUARANTY, OR
WARRANTY IS TO BE INFERRED FROM THOSE FORWARD-LOOKING STATEMENTS.

THE ASSUMPTIONS USED FOR PURPOSES OF THE FORWARD-LOOKING STATEMENTS SPECIFIED
IN THE FOLLOWING INFORMATION REPRESENT ESTIMATES OF FUTURE EVENTS AND ARE
SUBJECT TO UNCERTAINTY AS TO POSSIBLE CHANGES IN ECONOMIC, LEGISLATIVE,
INDUSTRY, AND OTHER CIRCUMSTANCES. AS A RESULT, THE IDENTIFICATION AND
INTERPRETATION OF DATA AND OTHER INFORMATION AND THEIR USE IN DEVELOPING AND
SELECTING ASSUMPTIONS FROM AND AMONG REASONABLE ALTERNATIVES REQUIRE THE
EXERCISE OF JUDGMENT. TO THE EXTENT THAT THE ASSUMED EVENTS DO NOT OCCUR, THE
OUTCOME MAY VARY SUBSTANTIALLY FROM ANTICIPATED OR PROJECTED RESULTS, AND,
ACCORDINGLY, NO OPINION IS EXPRESSED ON THE ACHIEVABILITY OF THOSE FORWARD-
LOOKING STATEMENTS. NO ASSURANCE CAN BE GIVEN THAT ANY OF THE ASSUMPTIONS
RELATING TO THE FORWARD-LOOKING STATEMENTS SPECIFIED IN THE FOLLOWING
INFORMATION ARE ACCURATE, AND WE ASSUME NO OBLIGATION TO UPDATE ANY SUCH
FORWARD-LOOKING STATEMENTS.

CRITICAL ACCOUNTING POLICIES

Our Management's Discussion and Analysis or Plan of Operation section
discusses our financial statements, which have been prepared in accordance
with accounting principles generally accepted in the United States of America.
The preparation of these financial statements requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. On an on-going basis,
management evaluates its estimates and judgments, including those related to
revenue recognition, accrued expenses, financing operations, and contingencies
and litigation. Management bases its estimates and judgments on historical
experience and on various other factors that are believed to be reasonable
under the circumstances, the results of which form the basis for making
judgments about the carrying value of assets and liabilities that are not
readily apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions. The most significant
accounting estimates inherent in the preparation of our financial statements
include estimates as to the appropriate carrying value of certain assets and
liabilities which are not readily apparent from other sources, accruals for
other costs, and the classification of net operating loss and tax credit
carry forwards between current and long-term assets. These accounting policies
are more fully described in the notes to the financial statements included in
our Annual Report on Form 10-KSB for the fiscal year ended March 31, 2006.

The first critical accounting policy relates to revenue recognition. The
Company recognizes income from its equipment lease uniformly over the term of
the underlying lease.

The second critical accounting policy relates to the valuation of non-monetary
consideration issued for services rendered. The Company values all services
rendered in exchange for its common stock at the quoted price of the shares
issued at date of issuance or at the fair value of the services rendered,
which ever is more readily determinable. All other services provided in
exchange for other non-monetary consideration is valued at either the fair
value of the services received or the fair value of the consideration
relinquished, whichever is more readily determinable.

The third critical accounting policy relates to the valuation of the Company's
long-term assets. The Company accounts for its long-lived assets in accordance
with SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived
Assets." SFAS No. 144 requires that long-lived assets be reviewed for
impairment whenever events or changes in circumstances indicate that the
historical cost carrying value of an asset may no longer be appropriate.
The Company assesses recoverability of the carrying value of an asset by
estimating the future net cash flows expected to result from the asset,
including eventual disposition. If the future net cash flows are less than
the carrying value of the asset, an impairment loss is recorded equal to the
difference between the asset's carrying value and fair value or disposable
value.

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<page>

OVERVIEW

Platina Energy Group, Inc. ("the Company"), a Delaware Corporation, was
incorporated on January 19, 1988 as Windom, Inc. After several failed
business attempts, the Company changed its name to Federal Security
Protection Services, Inc. on March 12, 2002 and acquired Iris Broadband, Inc.
on September 6, 2002, allowing the Company to become a full-service managed
security services company and a secure Internet Protocol ("IP") network
services provider. In 2003, the Company reversed its merger with Iris
Broadband, Inc. and, as a result, discontinued business operations. On
June 15, 2005, the Company changed its name to Platina Energy Group Inc.
after acquiring the rights and licenses to marketing certain a proprietary
thermal pulsing pump which will be utilized in the oil and gas industry.

Subsequent to the acquisition of the rights and licenses to the TPU (Thermal
Pulse Unit), the Company initiated efforts in seeking possible acquisitions
of oil and gas properties that in management's opinion would provide revenue
and profit generating opportunities. Pursuant to management's goal of
acquiring said properties, management identified several potential candidates
and On October 12, 2006, the Company issued 3,600 shares of its Series C
Preferred Stock in exchange for an option to acquire certain oil and gas
leases in Floyd and Briscoe Counties, Texas.

On October 27, 2006, the Company entered into an agreement to purchase an
oil and gas lease to thirty to thirty five drilling locations on approximately
1,600 acres in the Devonian Black Shale formation located in the Appalachian
Basin in East Tennessee (said lease prospects are contained in the P Hawkins
Gas Project). An engineering report produced by C. G. Collins (independent
Petroleum Engineer) states that the production in the P Hawkins Gas Project
area comes from the Devonian Black Shale. The report further sates that most
of the larger gas companies in America grew to their existing levels by
producing gas from this formation including companies such as Columbia,
Equitable, United States Steel, KY ~ West Virginia and Wiser.

In consideration for the assets purchased, the Company agreed to issue
22,500 shares of its Series B Preferred Stock to seller. The closing of the
transaction was January 8, 2007. However, if the Company does not have
$1,000,000 to fund the development of the assets purchased by March 15, 2007,
the seller has the right to reverse the transaction.

As of November 13th, 2006 the Company's corporate headquarters is located
on 1807 Capitol Ave. Suite 101 - I, Cheyenne, WY 82001


Results of Operations for the Three Months Ended December 31, 2006 and 2005

Revenues for the three-months ended December 31, 2006 and 2005 totaled $7,400
and $0, respectively. The revenue during the three-months ended December 31,
2006 was the result of an agreement to lease our thermal pulsing pump for
$3,600 per month beginning in November 2006.

Operating Expenses

General and administrative expenses for the three-months ended December 31,
2006 totaled $74,985, which primarily consisted of salaries and related costs
to non-officers totaling $15,139, accrued compensation to its officers
totaling $18,000, accounting and legal fees of $11,162, depreciation and
amortization of $27,120, and other general and administrative expenses
totaling $3,564.

Consulting fees, non-cash consisted of our issuance of a total of 1,250,000
shares of our common stock in payment of a service agreement with Wallstreet
Direct, Inc. The services received were valued at $150,000.

Restated general and administrative expenses for the three-months ended
December 31, 2005 totaled $65,845 and consisted of amortization expense of
$12,411, accrued compensation to its officers totaling $18,000, salaries
and wages of $13,000, accounting and legal fees of $10,189, transportation
expenses of $2,250, office rent of $3,936 and other general and administrative
expenses totaling $6,059.

Accrued interest charged to operations for the three-months ended December
31, 2006 and 2005 amounted to $14,982 and $11,689, respectively.

During the three-months ended December 31, 2006, we issued a total of 700,300
shares of our common stock in payment of debt to a note holder in the amount
of $35,015. The aggregate fair value of the shares issued was $63,027;
accordingly, we recorded a $28,012 loss on settlement of debt.

Results of Operations for the Nine Months Ended December 31, 2006 and 2005

Revenues for the nine-months ended December 31, 2006 and 2005 were $7,400 and
$4,900, respectively. The revenue during the nine-months ended December 31,
2006 was the result of an agreement to lease our thermal pulsing pump for
$3,600 per month beginning in November 2006. The revenues during the nine-
months ended December 31, 2005 were derived from the utilization of our
thermal pump.

Operating Expenses

General and administrative expenses for the nine-months ended December 31,
2006 totaled $205,056, which primarily consisted of salaries and related
costs to non- officers totaling $47,539, accrued compensation to its officers
totaling $54,000, accounting and legal fees of $44,910, depreciation and
amortization of $43,585, office rent of $5,466, and other general and
administrative expenses totaling $9,556.

Consulting fees, non-cash consisted of our issuance of a total of 1,250,000
shares of our common stock in payment of a service agreement with Wallstreet
Direct, Inc.  The services received were valued at $150,000.

Testing costs associated with Thermal Pump for the nine-months ended December
31, 2005 totaled $109,242.

Restated general and administrative expenses for the nine-months ended
December 31, 2005 of $439,338 consisted of amortization expense of $37,234,
accrued compensation to its officers totaling $89,000, salaries and wages of
$59,082, consulting fees of $42,893, accounting fees of $36,492, public
relations expense of $14,484, legal fees of $33,593, equipment rental of
$18,551, transportation expenses of $9,341, insurance expense of $7,799,
supplies of $8,786, office rent of $16,403, contract labor of $10,620, travel
expenses of $8,839 and other general and administrative expenses totaling
$46,221.

Accrued interest charged to operations for the nine-months ended December 31,
2006 and 2005 amounted to $42,159 and $33,430, respectively.

During the nine-months ended December 31, 2006, we issued a total of 700,300
shares of our common stock in payment of debt to a note holder in the amount
of $35,015. The aggregate fair value of the shares issued was $63,027;
accordingly, we recorded a $28,012 loss on settlement of debt.



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<page>

LIQUIDITY AND CAPITAL RESOURCES

As of December 31, 2006, we had current assets of $0. We also had equipment
with a net book value of $50,410, and investment in option of $32,400 and
licensing rights of $260,625, net of amortization.  Total assets at December
31, 2006 amounted to $343,435.

As of December 31, 2006, the Company had current liabilities of $1,024,842.

As of December 31, 2005, the Company had current assets of $5,116, consisting
solely of cash and cash equivalents. The Company also had equipment with a
net book value of $51,429, deposits of $1,312 and licensing rights totaling
$310,266.  Restated total assets at December 31, 2005 were $368,123.

As of December 31, 2005, the Company had current liabilities of $742,916 and
long-term debt of $214,963.

During the nine-months ended December 31, 2006, the Company received a total
of $61,250 through the sale of 1,225,000 shares of the Company's common
stock and $71,500 in advances from its President and his wholly owned
corporation. During the same period, the Company paid $130,018 in its
operations, purchased equipment totaling $7,432; made loan repayments to
our President of $1,500.

During the nine-months ended December 31, 2005, the Company received a total
of $255,000 through the sale of 1,275,000 shares of the Company's common
stock and $155,851 in advances from its President and his wholly owned
corporation. During the same period, the Company paid $279,598 in its
operations, paid an advance of $10,000 for its licensing purchase, purchased
equipment totaling $56,764; paid $21,450 in costs associated with its private
offerings, received $155,851 in loans from related parties and made loan
repayments to related parties of $62,000.



PART II--OTHER INFORMATION

Item 1.  Legal Proceedings.
None.

Item 2.  Changes in Securities.

On October 2006, the Company issued 700,300 shares of its common stock to a
Noteholder who elected to convert the amount of indebtedness due him totaling
$35,015.

Item 3.  Defaults 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 10-QSB

(a) Exhibit 31 - Certification pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002

(b) Exhibit 32 - Certification pursuant to 18 U.S.C. Section 1350 as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002





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<page>


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereto duly authorized.

Date:	February 20, 2007 		PLATINA ENERGY GROUP, INC.
					    (Registrant)

		Blair Merriam
Chief Executive Officer, President, Chief Financial Officer,
(Principal Accounting Officer) and Director

<page>
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