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| Colorado                 |   | 000-51139                |   | 13-4228144                        |
|--------------------------|--------|--------------------------|--------|-----------------------------------|
| (State of Incorporation) |   | (Commission File Number) |   | (IRS Employer Identification No.) |

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Table of Contents

| Item 1                            | Financial Statements (Unaudited)                                                           | Page   |
|-----------------------------------|--------------------------------------------------------------------------------------------|--------|
|                              | Consolidated Balance Sheets  March 31, 2008 and December 31, 2007                     | 1      |
|                              | Consolidated Statements of Operations  Three months ended March 31, 2008 and 2007     | 2      |
|                              | Consolidated Statements of Cash Flows  Three months ended March 31, 2008 and 2007     | 3      |
|                              | Consolidated Statement of Changes in Stockholders’ Equity – March 31, 2008     | 4      |
|                              | Notes to Consolidated Financial Statements                                                 | 5      |
| Item 2                            | Management’s Discussion and Analysis of Financial Conditionand Results of Operations | 22     |
| Item 3                            | Quantitative and Qualitative Disclosures About Market Risk                                 | 25     |
| Item 4                            | Controls and Procedures                                                                    | 26     |
| Item 4T                           | Controls and Procedures                                                                    | 26     |
| PART II – OTHER INFORMATION |                                                                                       |   |
| Item 1                            | Legal Proceedings                                                                          | 28     |
| Item 2                            | Changes in Securities                                                                      | 28     |
| Item 3                            | Defaults Upon Senior Securities                                                            | 28     |
| Item 4                            | Submission of Matters to a Vote of Security Holders                                        | 28     |
| Item 5                            | Other Information                                                                          | 28     |
| Item 6                            | Exhibits                                                                                   | 29     |
|                              | SIGNATURES                                                                                 |   |

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Consolidated Balance Sheets

|                                         |                                                                      |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          | March 31, 2008 Unaudited RESTATED                                                                                                                             |                                                                                                                                               | December 31, 2007 Audited  RESTATED                                                                                           |
|----------------------------------------------|---------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|
| ASSETS:                                      |                                                                      |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          |                                                                                                                                                          |
|                                         | Current Assets:                                                           |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          |
|                                         |                                                                      | Cash and cash equivalents                                                                                                                                                 |  $              3,162                          |                                                                                                                                                          |  $                1,407                                                  |
|                                         |                                                                      | S/T Mortgages receivable - Net of $169 allowance, deferred revenue of $77 on March 31, 2008 and $5 on December 31, 2007                                                   | 2,524                                                                                                                     |                                                                                                                                                          |            2,148                                                                                       |
|                                         |                                                                      | S/T Note receivable - Jaguar Group LLC Net of $39 imputed interest on March 31, 2008 and $54 on December 31, 2008                                                         |           1,352                                                         |                                                                                                                                                          |                   1,047                                             |
|                                         |                                                                      | Accrued interest receivable                                                                                                                                               |                  27                  |                                                                                                                                                          |                         45            |
|                                         |                                                                      | Advances receivable                                                                                                                                                       |                     1 |                                                                                                                                                          |                           5 |
|                                         |                                                                      | Prepaid expenses                                                                                                                                                          |                  40                  |                                                                                                                                                          |                         62            |
|                                         | Total Current Assets                                                      |           7,106                                                                                                         |                                                                                                                      |                   4,714                                             |
|                                         |                                                                      |                                                                                                                                                                      |   Property, equipment and software, net                                                                         |                  80                                                      |                                                                                                                                                          |                         45 |
|                                         | Other Assets                                                              |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          |
|                                         |                                                                      | Notes receivable - (Note 4) - Aegis/Grizzle                                                                                                                               |                483                             |                                                                                                                                                          |                       450                       |
|                                         |                                                                      | Investment - BPZ Energy - (Notes 2, 3, 5)                                                                                                                                 | 3,082                                                                                                                     |                                                                                                                                                          |                   2,541                                             |
|                                         |                                                                      | Investment in Boston Property (Note 5)                                                                                                                                    |          1,530                                                               |                                                                                                                                                          |                   1,279                                             |
|                                         |                                                                      | Real estate owned (Notes 2, 5)                                                                                                                                            |                640                             |                                                                                                                                                          |                       379                       |
|                                         |                                                                      | Other assets                                                                                                                                                              |                     6 |                                                                                                                                                          |                         15            |
|                                         |                                                                      |                                                                                                                                                                      |        Total Other Assets                                                              |          5,741                                                                                                   |                                                                                                                                                          |                   4,664                                  |
| TOTAL ASSETS                                 |  $        12,927             |                                                                                                                                                                      |  $                9,423              |
|                                         |                                                                      |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          |                                                                                                                                                          |                                                                                                                                               |                                                                                                                                    |
| LIABILITIES & STOCKHOLDERS' EQUITY:      |                                                                      |                                                                                                                                                                      |                                                                                                                      |
|                                         | Current Liabilities:                                                      |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          |
|                                         |                                                                      | Accounts payable                                                                                                                                                          |  $                15                 |                                                                                                                                                          |  $                     15                       |
|                                         |                                                                      | Short term borrowings  (Note 7)                                                                                                                                 |                  991                 |                                                                                                                                                          |                       286                       |
|                                         |                                                                      | Accrued taxes and liabilities                                                                                                                                             |                  988                 |                                                                                                                                                          |                       151                       |
|                                         | Total Current Liabilities                                                 |               1,994                                                                                 |                                                                                                                      |                       452                       |
|                                         | Minority Interest in Subsidiary (Note 1, 2)                               |                     3                                                 |                                                                                                                      |                           3 |
|                                         |                                                                      |                                                                                                                                                                      |                                                                                                                      | Total Liabilities                                                                                                                                             |               1,997                                                                     |                                                                                                                                               |                       455 |
|                                         | Stockholders' Equity:                                                     |                                                                                                                                                                      |                                                                                                                      |                                                                                                                                                          |
|                                         |                                                                      | Common stock, $0.001 par value, 100,000,000 shares authorized, 9,024,583 and 8,924,862 shares issued and outstanding at March 31, 2008 and December 31, 2007 respectively |                     9 |                                                                                                                                                          |                           9 |
|                                         |                                                                      | Additional paid-in capital                                                                                                                                                |               8,906                                 |                                                                                                                                                          |                   8,758                                             |
|                                         |                                                                      | Accumulated other comprehensive income (Note 2)                                                                                                                           |               2,195                                 |                                                                                                                                                          |                    1,578                                       |
|                                         |                                                                      | Accumulated earnings / (deficit)                                                                                                                                          |                 (180)                     |                                                                                                                                                          |                  (1,377)                                                 |
|                                         |                                                                      |                                                                                                                                                                      |         Total Stockholders' Equity                                                |             10,930                                                                                |                                                                                                                                                          |                    8,968                            |
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY |  $          12,927 |                                                                                                                                                                      |  $                9,423              |

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Table of Contents

Consolidated Statements of Operations

|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            | For the Three Months Ended                                                                                                            |
|----------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            | March 31, 2008 RESTATED                                                                                                               | March 31, 2007 RESTATED |
| Revenue                                                                          |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |  $             289                                              |  $              224 |
| Cost of fees including facilities andcommissions                                 |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                 186                             | 242                                                                                                                                   |
| Gross Profit                                                                     |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                  103                       | (18)                                                                                                                                  |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
| Operating Expenses:                                                              |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |
|     General and administrative                               |                                                                                |                                                                                                                      |                                                                                                                            |                 610                  |                  150                       |
|     Impairment, depreciation and amortization                |                                                                                |                     8 |                      2 |
|         Total operating expenses         |                                                                                |                                                                                                                      |                                                                                                                            |                 618                  |                  152                       |
| Loss from operations                                                             |                                                                                |                                                                                                                      |                                                                                                                            |               (515)                            |                (170)                                 |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
| Other income (expense)                                                           |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |
|    Gain on sale of BPZ investment                                 |                                                                                |                                                                                                                      |              2,487                                             |                    64 |
|    Interest income                                                |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                   33                  |                       - |
|    Interest (expense)                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                 (31)                            |                       - |
| Other income (expense)                                                           |                                                                                |                                                                                                                      |                                                                                                                            |                 (64)                 |                      2 |
|    Total other income                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |               2,425                                       |                    66                  |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
| Net Income (Loss) before minority interest and income tax                        |              1,910 |                (104)                           |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
|    Minority Interest                                              |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |
|       Minority interest in consolidated subsidiary |                                                                                |                     - |                    (8)           |
| Net Income (Loss) before taxes                                                   |                                                                                |                                                                                                                      |              1,910                                             |                (112)                      |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
|    Income Taxes                                                   |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |
|       Provision for income tax                     |                                                                                |                                                                                                                      |                                                                                                                            |               (713)                            |                      - |
| Net Income (Loss)                                                                |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |  $           1,197                                                  |  $            (112)                                                  |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
| Earnings Per Share:                                                              |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |
|     Basic                                                    |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |  $            0.13                                                   |  $           (0.01) |
|                                                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            |                                                                                                                                  |   |
| Weighted Average Shares Outstanding:                                             |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |
|    Basic                                                          |                                                                                |                                                                                                                      |                                                                                                                            |                                                                                                                 |                                                                                                                            | 9,093                                                                                                                                 | 7,983 |

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Consolidated Statement of Cash Flows

|                                             |                                                                                                |                                                                                                                                              | For the Three Months Ended                                                                                                                        |
|--------------------------------------------------|-----------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|
|                                             |                                                                                                |                                                                                                                                              | March 31, 2008 RESTATED                                                                                                                           | March 31, 2007 RESTATED |
| Cash Flows from Operating Activities:            |                                                                                                |                                                                                                                                              |
|                                             | Net Income (Loss)                                                                                   |  $             1,197                                                        |                  (112)                                       |
|                                             | Adjustments to reconcile net loss to net cash used in operating activities:                         |                                                                                                                                              |                                                                                                                                              |
|                                             |                                                                                                | Depreciation                                                                                                                                      |                        8       |                        2 |
|                                             |                                                                                                | Gain on sale investments                                                                                                                          |               (2,487)                                                       |                    (64) |
|                                             |                                                                                                | Increase in allowances and impairments                                                                                                            |                    164                             |                         - |
|                                             |                                                                                                | Minority interest                                                                                                                                 |                       -             |                        8 |
|                                             | Changes in operating assets and liabilities:                                                        |                                                                                                                                              |                                                                                                                                              |
|                                             |                                                                                                | Accounts receivable                                                                                                                               |                         - |                      37 |
|                                             |                                                                                                | Deferred Revenue                                                                                                                                  |                      77                  | - |
|                                             |                                                                                                | Prepaid expenses and other assets                                                                                                                 |                    22                              |                    (10) |
|                                             |                                                                                                | Short term loans receivable                                                                                                                       |                  (878)                                       |                         - |
|                                             |                                                                                                | Accrued interest and advances                                                                                                                     | 15                                                                                                                                                |                         - |
|                                             |                                                                                                | Accounts payable                                                                                                                                  |                    -                               |                    (44) |
|                                             |                                                                                                | Accrued liabilities and other                                                                                                                     |                  560                                         |                    (4) |
| Net Cash (Used in) Operating Activities          |               (1,322)         |                  (187)                                       |
|                                             |                                                                                                |                                                                                                                                              |                                                                                                                                              |   |
| Cash Flows from Investing Activities:            |                                                                                                |                                                                                                                                              |
|                                             | Investments (increased)/decreased                                                                   |                                                                                                                                              |                                                                                                                                              |
|                                             |                                                                                                | Boston real estate                                                                                                                                |                 (251)                                             |                         - |
|                                             |                                                                                                | Jaguar note receivable                                                                                                                            | (307)                                                                                                                                             | - |
|                                             |                                                                                                | Marketable securities purchases                                                                                                                   |              (1,074)                                                             |                         - |
|                                             |                                                                                                | Marketable securities sold                                                                                                                        |               4,042                                                         |                    199 |
|                                             |                                                                                                | BPZ legacy options exercised                                                                                                                      |                      -                   |                    362 |
|                                             | Increase in fixed assets                                                                            |                   (43)                                  |                         - |
| Net Cash Provided by Investing Activities        |               2,367           |                   561                                   |
|                                             |                                                                                                |                                                                                                                                              |                                                                                                                                              |   |
| Cash Flows from Financing Activities:            |                                                                                                |                                                                                                                                              |
|                                             | Increase in short term borrowings                                                                   | 705                                                                                                                                               | -                                                                                                                                                 |
|                                             | Option exercise proceeds                                                                            |                        5       |                         - |
| Net Cash Provided by Financing Activities        |                 710 |                         - |
| Net Increase in Cash & Cash Equivalents      |               1,755           |                   374                                   |
| Beginning Cash & Cash Equivalents            |              1,407                 |                   179                                   |
| Ending Cash & Cash Equivalents               |  $             3,162          |                    553                             |
|                                             |                                                                                                |                                                                                                                                              |                                                                                                                                              |   |
| Supplemental Disclosure of Cash Flow Information |                                                                                                |                                                                                                                                              |
|                                             | Non cash settlement of note receivable                                                              |  $                261                                        |  $                     -            |
|                                             | Cash paid for Interest                                                                              |  $                  15                             |  $                     -            |
|                                             | Cash paid for Income Taxes                                                                          |  $                103                                        |  $                     -            |

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Consolidated Statement of Stockholders’ Equity

|                                           | For the Years Ended December 31, 2006 and 2007 and Three Months ended March 31, 2008 |
|------------------------------------------------|--------------------------------------------------------------------------------------|
|                                           | (In thousands)                                                                       |
|                                           |                                                                                 |   |   |   |   |   |   | Accumulated |   |   |   |   |
|                                           |                                                                                 | Voting |   | Additional |   | Other |   | Accumulated |   |   |
|                                           |                                                                                 | Common Stock |   | Paid-in |   | Comprehensive |   | Profit |   | Stockholder |
|                                           |                                                                                 | Shares |   | Amount |   | Capital |   | Income |   | (Deficit) |   | Equity  |
|                                           |                                                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Balances, Dec 31, 2006, as previously reported |        7,950                                      | $ |           8 |   |       9,413 |   |            1,483 |   |          (3,973) |   |         6,931 |
|                                           | Unrealized Gains                                                                     |             - |   |          - |   |      (1,203) |   |                 - |   |                - |   |        (1,203) |
|                                           | Legal Settlement                                                                     |             - |   |          - |   |            - |   |                 - |   |              295 |   |            295 |
| Balance, December 31, 2006 (as restated)       |        7,950                                      |   |           8 |   |       8,210 |   |            1,483 |   |          (3,678) |   |         6,023 |
|                                           |                                                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                     |                                                                                 |   |   |   |   |   |   |   |           2,301 |   |         2,301 |
|                                           | Options exercised                                                                    |        1,000 |   |           1 |   |            49 |   |                 - |   |                - |   |              50 |
|                                           | Correct BPZ transaction                                                              |             33 |   |          - |   |              2 |   |                 - |   |                - |   |                2 |
|                                           | Correct private placement                                                            |             10 |   |          - |   |            - |   |                 - |   |                - |   |              - |
|                                           | Legacy Option Exercise                                                               |             - |   |          - |   |          647 |   |                 - |   |                - |   |            647 |
|                                           | Retirement of stock - Armijo settlement                                              |         (68) |   |          - |   |        (150) |   |                 - |   |                - |   |           (150) |
|                                           | Gain on marketable securities                                                        |             - |   |          - |   |            - |   |                95 |   |                - |   |              95 |
| Balances, December 31, 2007                    |        8,925                                      |   | 9 |   | 8,758 |   | 1,578 |   | (1,377) |   | 8,968 |
|                                           |                                                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Net Income                                     |             -            |   |          - |   |            - |   |                 - |   |           1,197 |   |         1,197 |
|                                           | Options exercised                                                                    |           100 |   |          - |   |              5 |   |                 - |   |                - |   |                5 |
|                                           | Change in unrealized gains                                                           |             - |   |          - |   |            - |   |               172 |   |                - |   |            172 |
|                                           | Lost BPZ stock (Notes 2, 4)                                                          | - |   | - |   | 143 |   | 445 |   | - |   | 588 |
| Balances, March 31, 2008                       |        9,025                                      | $ | 9 | $ | 8,906 | $ | 2,195 | $ | (180) | $ | 10,930 |

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            | March 31, 2008                                                                                                       |
|----------------------------------------------|---------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            | Previously Reported RESTATED                                                                                         | RESTATED | Change |
| ASSETS:                                      |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |
|                                         | Current Assets:                                   |                                                                                                    |                                                                                                                      |                                                                                                                            |
|                                         |                                              | Cash and cash equivalents                                                                               |  $        3,162                                                              |  $           3,162                                                  |  $            -                                     |
|                                         |                                              | Marketable securities                                                                                   |                   -             |                      - |                -                          |
|                                         |                                              | S/T Mortgages receivable - Net of $169 reserve, deferred                                                |            2,524                                                   |               2,524                                       |                -                          |
|                                         |                                              |                                                                                                    | revenue of $77 on March 31, 2008 and $5 on December 31, 2007                                                              |                                                                                                                            |                                                                                                                 |
|                                         |                                              | S/T Note receivable - Jaguar Group LLC                                                                  |            1,352                                                   |               1,352                                       |                -                          |
|                                         |                                              |                                                                                                    | Net of $39 imputed interest on March 31, 2008                                                                             |                                                                                                                            |                                                                                                                 |   |
|                                         |                                              |                                                                                                    | and $54 on December 31, 2008                                                                                              |                                                                                                                            |                                                                                                                 |   |
|                                         |                                              | Accrued interest receivable                                                                             |                27                              |                    27            |                -                          |
|                                         |                                              | Advances receivable                                                                                     |                  1                   |                     1       |                -                          |
|                                         |                                              | Prepaid expenses                                                                                        |                40                              |                    40            |                -                          |
|                                         | Total Current Assets                              |            7,106                                 |               7,106                                 |                -                                     |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
|                                         |                                              |                                                                                                    |   Property, equipment and software, net                                                                         |                80                                    |                    80 |                - |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
|                                         | Other Assets                                      |                                                                                                    |                                                                                                                      |                                                                                                                            |
|                                         |                                              | Notes receivable                                                                                        |              483                                         |                  483                       |                -                          |
|                                         |                                              | Investment - BPZ Energy                                                                                 |            2,232                                                   |               3,082                                       |         850                                                                  |
|                                         |                                              | Investment in Boston Property                                                                           |            1,530                                                   |               1,530                                       |                -                          |
|                                         |                                              | Real estate owned                                                                                       |              640                                         |                  640                       |                -                          |
|                                         |                                              | Other assets                                                                                            |                  6                   |                     6       |                -                          |
|                                         |                                              |                                                                                                    |        Total Other Assets                                                              |            4,891                                                         |               5,741                            |          850 |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
| TOTAL ASSETS                                 |  $      12,077 |  $          12,927                               |     $      850                                                          |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
| LIABILITIES & STOCKHOLDERS' EQUITY:      |                                              |                                                                                                    |                                                                                                                      |
|                                         | Current Liabilities:                              |                                                                                                    |                                                                                                                      |                                                                                                                            |
|                                         |                                              | Accounts payable                                                                                        |  $            15                                         |  $                15                       |        $         -                        |
|                                         |                                              | Short term borrowings                                                                                   |              991                                         |                  991                       |                -                          |
|                                         |                                              | Accrued taxes and liabilities                                                                           |              726                                         |                  988                       |           262                                                      |
|                                         | Total Current Liabilities                         |            1,732                                 |               1,994                                 |           262                                                                 |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
|                                         | Minority Interest in Subsidiary                   |                  3 |                     3 |                -                                     |
|                                         |                                              |                                                                                                    |                                                                                                                      | Total Liabilities                                                                                                               |            1,735                                              |               1,997 |           262 |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
|                                         | Stockholders' Equity:                             |                                                                                                    |                                                                                                                      |                                                                                                                            |
|                                         |                                              | Common stock, $0.001 par value, 100,000,000 shares                                                      |                  9                   |                     9       |                -                          |
|                                         |                                              |                                                                                                    | authorized, 9,024,583 and 8,924,862 shares issued                                                                         |                                                                                                                            |                                                                                                                 |   |
|                                         |                                              |                                                                                                    | and outstanding at March 31, 2008 and                                                                                     |                                                                                                                            |                                                                                                                 |   |
|                                         |                                              |                                                                                                    | December 31, 2007 respectively                                                                                            |                                                                                                                            |                                                                                                                 |   |
|                                         |                                              | Additional paid-in capital                                                                              |            8,763                                                   |               8,906                                       |           143                                                      |
|                                         |                                              | Accumulated other comprehensive income                                                                  |            1,750                                                   |               2,195                                       |           445                                                      |
|                                         |                                              | Accumulated earnings / (deficit)                                                                        |             (180)                                             |                 (180)                           |                -                          |
|                                         |                                              |                                                                                                    |         Total Stockholders' Equity                                                |          10,342                                                                    |             10,930                                       |           588 |
|                                         |                                              |                                                                                                    |                                                                                                                      |                                                                                                                            |                                                                                                                 |   |   |
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY |  $      12,077 |  $          12,927                               |  $       850                                                                      |

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| Part 1—Real estate owned at end of period (in thousands)    | Part 2—Rental income (in thousands) |
|-------------------------------------------------------------------|-------------------------------------------|
| Column A—List classification of property as indicated below | Column B—Amount of incumbrances     | Column C—Initial cost to company | Column D—Cost of improve-ments, etc. | Column E—Amount at which carried at close of period | Column F—Reserve for depreciation and Impairments | Column G—Rents due and accrued at end of period | Column H—Total rental income applicable to period | Column I—Expended for interest, taxes, repairs and expenses | Column J—Net income applicable to period |
| Farms                                                             |                                      |   |   |   |   |   |   |   |   |
| Residential                                                       |                                      |   |   |   |   |   |   |   |   |
| Colorado                                                          | $ 250                                | 282 |   | 282 | - |   | 2 | 2 | - |
| Arizona                                                           |                                      | 358 |   | 358 | - |   |   | - | - |
| Massachusetts                                                     |                                      | 1,200 | 330 | 1,530 |   |   |   |   |   |
| Apartments and business                                           |                                      |   |   |   |   |   |   |   |   |
| Unimproved                                                        |                                      |   |   |   |   |   |   |   |   |
|       Total                         | $ 250                                     | 1,840 | 330 | 2,170 | - |   | 2 | 2 | - |
| Rent from properties sold during period                           |                                      |   |   |   |   |   |   |   |   |
|       Total                         | $ 250                                     | 1,840 | 330 | 2,170 | - |   | 2 | 2 | - |

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| Real Estate Detail (in thousands)             |   | Boston Property | Other Real Estate Owned | Total  |
|-----------------------------------------------|--------|-----------------|-------------------------|--------|
| Beginning Balance,  January 1, 2008 |   | $1,279          | $379                    | $1,658 |
| Additions during the period:                  |   |            |                    |   |
| Acquisitions through foreclosure              |   | -               | 261                     | 261    |
| Other acquisitions                            |   | -               | -                       | -      |
| Improvements, etc.                            |   | 251             | -                       | 251    |
| Other (describe)                              |   |            |                    |   |
| Deductions during the period:                 |   |            |                    |   |
| Cost of real estate sold                      |   | -               | -                       | -      |
| Impairments                                   |   | -               | -                       | -      |
| Other (describe)                              |   | -               | -                       | -      |
| Ending Balance, March 31, 2008                |   | $1,530          | $640                    | $2,170 |

| Asset Type                       | Life in Years | March 31, 2008 | December 31, 2007 |
|----------------------------------|---------------|----------------|-------------------|
| Office equipment & Furniture | 5 – 7   | $ 98,000       | $ 91,000          |
| Computers                        | 3             | 39,000         | 24,000            |
| Subtotal                         |          | 137,000        | 115,000           |
| Less Accumulated Depreciation    |          | 57,000         | 70,000            |
| Net Book Value                   |          | $ 80,000       | $ 45,000          |

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| Year Ending                        | Proceeds    |
|------------------------------------|-------------|
| December 31, 2006                  | $ 893,000   |
| December 31, 2007                  | $ 7,748,000 |
| Three months ending March 31, 2008 | $ 4,042,000 |

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| Note From                 | Due                 | Principal Amount | 3/31/08 Balance | Annual Interest rate | Accrued Interest | Collateral                               |
|---------------------------|---------------------|------------------|-----------------|----------------------|------------------|------------------------------------------|
| Robert Grizzle            | Oct 17, 2009        | $450,000         | $450,000        | 8%                   | $33,000          | Shares and options in Navidec and Aegis  |
| Welend-Jaguar             | June 13, 2008       | 1,100,000        | 1,352,000       | 0%                   | $-0-             | Junior security in residential mortgages |
| Short term home mortgages | Various and on-gong | 2,693,000        | 2,770,000       | 9.95% to 14%         | $28,000          | First mortgage                           |
| Total                     |                |             | $4,572,000      |                 |  $61,000    |                                     |
| Less: Impairments         |                |             | 169,000         |                 |             |                                     |
| Less: Deferred Income     |                |             | 77,000          |                 |             |                                     |
| Net Balance               |                |             | $4,326,000      |                 |             |                                     |

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|                         |   | For the Three Months Ended            |   |   | For the Three Months Ended |   |
|------------------------------|--------|---------------------------------------|--------|--------|----------------------------|--------|
|                         |   | March 31, 2008                        |   |   | March 31, 2007             |   |
|                         |   | (Data in thousands)                   |   |   | (Data in thousands)        |   |
|                         |   | Navidec Financial Services, Inc. |   |   | Northsight, Inc.           |   |   | Navidec Financial Services, Inc. |   |   | Northsight, Inc. |   |
|                         |
|                         |
| Revenue                      |   |                                  |   |   |                       |   |   |   |   |   |   |   |
| Sales                        |   | $                                     | 1      |   |                       | $      | 288 |   |   | $ | 224 |   |   | $ | - |   |
| Cost of Sales                |   |                                  | -      |   |                       |   | 186 |   |   |   | - |   |   |   | - |   |
| Gross Profit                 |   | $                                     | 1      |   |                       | $      | 102 |   |   | $ | 224 |   |   | $ | - |   |
|                         |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total Operating Expenses     |   |                                  | 234    |   |                       |   | 384 |   |   |   | 394 |   |   |   | - |   |
| Operating Income (Loss)      |   | $                                     | (233   | )      |                       | $      | (282 | ) |   | $ | (170 | ) |   | $ | - |   |
|                         |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Other Income/(Expense)       |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Gain on sale of investments  |   |                                  | 2,487  |   |                       |   | - |   |   |   | 64 |   |   |   | - |   |
| Other income/(expense)       |   |                                  | (49    | )      |                       |   | (13 | ) |   |   | 2 |   |   |   | - |   |
| Total Other Income/(Expense) |   | $                                     | 2,438  |   |                       | $      | (13 | ) |   | $ | 66 |   |   | $ | - |   |
|                         |   |                                  |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Minority Interest            |   |                                  | -      |   |                       |   | - |   |   |   | (8 | ) |   |   |   |   |
| Income Taxes (credit)        |   |                                  | 713    |   |                       |   | - |   |   |   | - |   |   |   | - |   |
| Net Income (Loss)            |   | $                                     | 1,492  |   |                       | $      | (295 | ) |   | $ | (112 | ) |   | $ | - |   |

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| Federal Rate                  | 34.00%  |
|-------------------------------|---------|
| State Rate                    | 4.63%   |
| Federal benefit of State Rate | (1.57)% |
|                          |    |
| Net Effective Rate            | 37.06%  |

|                     | Federal (000s) |
|--------------------------|----------------|
| Book Income before taxes | $ 1,910        |
|                     |           |
| Tax Adjustments:         |           |
| Additions (Permanent):   |           |
| Entertainment exclusion  | 14             |
| Projected Taxable Income | $ 1,924        |
| Projected Tax            | $ 713          |

|                                    | Shares                | Weighted AverageExercise Price |
|-----------------------------------------|-----------------------|--------------------------------|
| Outstanding,  January 1, 2008 | 3,681,510             | $ 1.18                         |
| Granted                                 | -                     | -                              |
| Cancelled                               | -                     | -                              |
| Expired                                 | -                     | -                              |
| Exercised                               |   (100,000) | -                              |
| Outstanding, March 31, 2008             | 3,581,510             | $ 1.18                         |
| Options Exercisable , March 31, 2008    | 3,581,510             | $ 1.18                         |

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| Number of commonshares covered by warrants | Exercise Price | Expiration Date |
|--------------------------------------------|----------------|-----------------|
|                                       |           |            |
| 1,332,500                                  | $ 4.00         | August 2010     |
| 1,332,500                                  | $ 2.00         | August 2010     |
|     150,000            | $ 1.00         | July 2010       |
| 2,815,000                                  |           |            |

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ITEM  2

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ITEM 3.

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ITEM 4. 

ITEM 4T.

|   |          (i) | pertain to the  maintenance  of records  that, in reasonable detail,  accurately and fairly reflect the  transactions and dispositions of our assets; |
|--------|-----------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |          (ii) | provide reasonable  assurance that transactions are recorded as necessary to permit  preparation of financial  statements  in accordance with generally accepted accounting principles, and that our receipts and  expenditures  are being made on  in accordance  with  authorizations  of our  management  anddirectors; and |
|--------|------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |          (iii) | provide reasonable  assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our  assets  that  could  have  a  material  effect  on  our financial statements. |
|--------|-------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | An inability to ensure there is timely analysis and review of accounting records, spreadsheets, and supporting data; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------|

| ·   | an inability to effectively monitor access to, or maintain effective controls over changes to, certain financial application programs and related data. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we have authorized the addition of additional staff members to the finance department to ensure that there are sufficient resources within the department to prepare our financial statements and disclosures in accordance with accounting principles generally accepted in the United States of America; and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | we are in the process of analyzing our processes for all business units and the establishment of formal policies and procedures with necessary segregation of duties, which will establish mitigating controls to compensate for the risk due to lack of segregation of duties.  |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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ITEM 1.  LEGAL PROCEEDINGS

ITEM 2.  CHANGES IN SECURITIES

ITEM 3.

ITEM 4.

ITEM 5.

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ITEM 6

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SIGNATURES

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