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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

|                                    |                                                                                             | Page   |
|-----------------------------------------|--------------------------------------------------------------------------------------------------|--------|
| Item 1                                  | Financial Statements (Unaudited)                                                                 |   |
|                                    | Consolidated Balance Sheets June 30, 2008 and  December 31, 2007                       | 1      |
|                                    | Consolidated Statements of Operations  Three and six months ended June 30, 2008 and 2007    | 2      |
|                                    | Consolidated Statements of Cash Flows – Six months ended June  30, 2008 and 2007 | 3      |
|                                    | Consolidated Statement of Changes in Stockholders’ Equity – June 30, 2008            | 4      |
|                                    | Notes to Consolidated Financial Statements                                                       | 5      |
| Item 2                                  | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 26     |
| Item 3                                  | Quantitative and Qualitative Disclosures About Market Risk                                       | 31     |
| Item 4                                  | Controls and Procedures                                                                          | 31     |
| Item 4T                                 | Controls and Procedures                                                                          | 31     |
|  PART II – OTHER INFORMATION |                                                                                             |
| Item 1                                  | Legal Proceedings                                                                                | 33     |
| Item 2                                  | Changes in Securities                                                                            | 33     |
| Item 3                                  | Defaults Upon Senior Securities                                                                  | 33     |
| Item 4                                  | Submission of Matters to a Vote of Security Holders                                              | 33     |
| Item 5                                  | Other Information – Not Applicable                                                         | 33     |
| Item 6                                  | Exhibits                                                                                         | 34     |
|                                    | SIGNATURES                                                                                       |   |

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Consolidated Balance Sheets

|                                                                                                                                                                     | June 30, 2008                                                                                            |   | December 31, 2007                                                                                             |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                     | RESTATED                                                                                                 |   | RESTATED                                                                                                      |
|                                                                                                                                                                     | Unaudited                                                                                                |   | Audited                                                                                                       |
| ASSETS:                                                                                                                                                                  |                                                                                                     |   |                                                                                                          |
| Current Assets:                                                                                                                                                          |                                                                                                     |   |                                                                                                          |
| Cash and cash equivalents                                                                                                                                                |  $        1,874                                             |   |  $         1,407                                            |
| Mortgages receivable - net of allowance of $1,021 on June 30, 2008 and $5 on December 31,2007, and unearned income of $103 on June 30, 2008 and $51 on December 31, 2007 |            5,758                                  |   |            2,148                                       |
| Note receivable - Jaguar Group LLC - net of allowance  of $423 on June 30, 2008 and imputed interest of $24 on June 30, 2008 and $51 on December 31, 2007      |              653                        |   |            1,047                                       |
| Accrued interest receivable                                                                                                                                              |              102                        |   |                 45            |
| Advances receivable                                                                                                                                                      |                  5  |   |                   5 |
| A/R - Jaguar Group LLC (Notes 1, 4)                                                                                                                                      |              291                        |   |                   - |
| Prepaid Expenses                                                                                                                                                         |                37             |   |                 62            |
|        Total Current Assets                                                                                                           |            8,720                                  |   |            4,714                                       |
|   Property, equipment and software, net                                                                                                                        |                86             |   |                 45            |
|   Other Assets                                                                                                                                                 |                                                                                                     |   |                                                                                                          |
|      Note receivable - (Note 4) - Aegis/Grizzle                                                                                                 |              450                        |   |               450                       |
|      Investment - BPZ Energy - (Notes 2, 4)                                                                                                     | 1,149                                                                                                    |   |            2,541                                       |
|      Investment - Boston Property (Notes 2,4)                                                                                                   |            1,835                                  |   |            1,279                                       |
|      Real estate owned - net of impairment (Notes 2,4)                                                                                          |              803                        |   |               379                       |
|      Other assets                                                                                                                               |                  11 |   |                 15            |
|        Total Other Assets                                                                                                             | 4,248                                                                                                    |   |            4,664                                       |
| TOTAL ASSETS                                                                                                                                                             |  $      13,054                                                        |   |  $         9,423                                            |
|                                                                                                                                                                     |                                                                                                     |   |                                                                                                          |
| LIABILITIES & STOCKHOLDERS' EQUITY:                                                                                                                                  |                                                                                                     |   |                                                                                                          |
|   Current Liabilities:                                                                                                                                         |                                                                                                     |   |                                                                                                          |
|       Advances repayable - related party                                                                                                   |  $               -       |   |  $             15                       |
|       Accounts Payable                                                                                                                     |                17             |   |                   - |
|       Short term borrowings  (Note 5)                                                                                            |            1,527                                  |   |               286                       |
|       Accrued taxes and liabilities (Note 8)                                                                                               |             1,277                            |   |               154                       |
|         Total Current Liabilities                                                                                                |            2,821                                  |   |               455                       |
|                                                                                                                                                                     |                                                                                                     |   |                                                                                                          |
| Commitments and Contingencies (Notes 2, 3, 4, 5, 7, 8, 10, 11)                                                                                                           |                                                                                                     |   |                                                                                                          |
|                                                                                                                                                                     |                                                                                                     |   |                                                                                                          |
|   Stockholders' Equity:                                                                                                                                        |                                                                                                     |   |                                                                                                          |
| Common stock, $0.001 par value, 100,000,000 shares authorized, 9,024,583 shares issued and outstanding at June 30, 2008 and 8,924,583 as ofDecember 31, 2007             |                  9  |   |                   9 |
|     Additional paid-in capital                                                                                                                       |            8,906                                  |   |            8,758                                       |
|     Unrealized gain on securities                                                                                                                    |                633            |   |            1,578                                       |
|     Accumulated earnings                                                                                                                             |              685                        |   |           (1,377)                                           |
|         Total Stockholders' Equity                                                                                               |          10,233                                             |   |            8,968                                       |
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                                                                                                                             |  $      13,054                                                        |   |  $         9,423                                            |

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Table of Contents

Consolidated Statement of Income

|                                                                     | For the Three Months Ended                                                                  |   | For the Six Months Ended                                                                    |
|--------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|
|                                                                     | June 30,                                                                                    |   | June 30,                                                                                    |
|                                                                     | 2008                                                                                        |   | 2007                                                                                        |   | 2008 |   | 2007 |
|                                                                     | RESTATED                                                                                    |   | RESTATED                                                                                    |   | RESTATED |   | RESTATED |
| Revenue                                                                  |                                                                                        |   |                                                                                        |   |   |   |   |
| Mortgage Fees and related services                                       |  $        262                                  |   |  $        156                                  |   |  $        551 |   |  $        380 |
| Interest and other revenues                                              |            206                       |   |                - |   |            239 |   |                - |
| Cost of revenues                                                         |           (316)                           |   |           (117)                           |   |           (502) |   |           (259) |
| Gross Profit                                                             |            152                       |   |              39            |   |            288 |   |            121 |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Operating Expenses:                                                      |                                                                                        |   |                                                                                        |   |   |   |   |
|     General and administrative                       |         1,787                                       |   |            329                       |   |         2,397 |   |            579 |
|     Depreciation and amortization                    |               2       |   |               2       |   |              10 |   |               4 |
|         Total operating expenses |         1,789                                       |   |            331                       |   |         2,407 |   |            583 |
| Loss from operations                                                     |        (1,637)                                           |   |           (292)                           |   |        (2,119) |   |           (462) |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Other income (expense)                                                   |                                                                                        |   |                                                                                        |   |   |   |   |
| Gain on sale of investments                                              |         3,148                                       |   |            471                       |   |         5,635 |   |            536 |
| Other (loss) or Gain                                                     |                - |   |                - |   |                - |   |              52 |
| Misc non-operating income/(expense)                                      |              22            |   |                - |   |             (42) |   |                - |
| Interest income                                                          |               9       |   |              50            |   |               9 |   |                - |
| Interest (expense)                                                       |             (56)                |   |                - |   |             (87) |   |                - |
|    Total other income                                     |         3,123                                       |   |            521                       |   |         5,515 |   |            588 |
| Net Income before minority interest and income tax                       |         1,486                                       |   |            229                       |   |         3,396 |   |            126 |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Minority Interest in consolidated subsidiary                             | -                                                                                           |   | (4)                                                                                         |   | - |   | (2) |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Net Income before taxes                                                  | 1,486                                                                                       |   | 225                                                                                         |   | 3,396 |   | 124 |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
|    Income Taxes                                           |                                                                                        |   |                                                                                        |   |   |   |   |
|       Provision for income tax             |           (621)                           |   |              -             |   |        (1,334) |   |              - |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Net Income                                                               |  $        865                                  |   |  $        225                                  |   |  $     2,062 |   |  $        124 |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Earnings Per Share:                                                      |                                                                                        |   |                                                                                        |   |   |   |   |
|     Basic                                            |  $       0.10                                       |   |  $       0.03                                       |   |  $       0.23 |   |  $       0.01 |
|                                                                     |                                                                                        |   |                                                                                        |   |   |   |   |
| Weighted Average Shares Outstanding:                                     |                                                                                        |   |                                                                                        |   |   |   |   |
|    Basic                                                  | 9,025                                                                                       |   | 8,483                                                                                       |   | 9,025 |   | 8,483 |

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Table of Contents

Consolidated Statement of Cash Flows

|                                             |                                                                                                          |                                                                                                          |                                                                                                          | For the Six Months Ended                                                                                                   |
|--------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------|
|                                             |                                                                                                          |                                                                                                          |                                                                                                          | June 30,                                                                                                                   |
|                                             |                                                                                                          |                                                                                                          |                                                                                                          | 2008                                                                                                                       |   | 2007 |
|                                             |                                                                                                          |                                                                                                          |                                                                                                          | RESTATED                                                                                                                   |   | RESTATED |
|                                             |                                                                                                          |                                                                                                          |                                                                                                          | (Unaudited)                                                                                                                |   | (Unaudited) |
| Cash Flows from Operating Activities:            |                                                                                                          |                                                                                                          |                                                                                                          |
|                                             | Net Income                                                                                                    |  $         2,062                                            |                                                                                                          |  $             124                                   |
|                                             | Adjustments to reconcile net income to net cash used in operating activities:                                 |                                                                                                          |                                                                                                          |                                                                                                                       |
|                                             |                                                                                                          | Depreciation expense                                                                                          |                 10            |                                                                                                                       |                    2 |
|                                             |                                                                                                          | Gain on sale of investments                                                                                   |           (5,635)                                           |                                                                                                                       |                (536) |
|                                             |                                                                                                          | Increase in reserves and impairments                                                                          |            1,439                                       |                                                                                                                       |                     - |
|                                             |                                                                                                          | Gain on settlement of debt                                                                                    |                   - |                                                                                                                       |                 (50) |
|                                             |                                                                                                          | Minority interest                                                                                             | -                                                                                                             |                                                                                                                       |                    2 |
|                                             | Changes in operating assets and liabilities:                                                                  |                                                                                                          |                                                                                                          |                                                                                                                       |
|                                             |                                                                                                          | Deferred Revenue                                                                                              |                 52            |                                                                                                                       |                     - |
|                                             |                                                                                                          | Accounts receivable                                                                                           |              (291)                           |                                                                                                                       |                  22 |
|                                             |                                                                                                          | Prepaid expenses and other assets                                                                             |                (31)                |                                                                                                                       |                  42 |
|                                             |                                                                                                          | Short term loans receivable                                                                                   |           (4,566)                                           |                                                                                                                       |                 300 |
|                                             |                                                                                                          | Accounts payable                                                                                              |                   2 |                                                                                                                       |                 (22) |
|                                             |                                                                                                          | Accrued liabilities and other                                                                                 |               744                       |                                                                                                                       |                  29 |
| Net Cash (Used) in Operating Activities          |           (6,214)                                           |                                                                                                          |                 (87)          |
|                                             |                                                                                                          |                                                                                                          |                                                                                                          |                                                                                                                       |   |   |
| Cash Flows from Investing Activities:            |                                                                                                          |                                                                                                          |                                                                                                          |
|                                             | Investments (increased)/decreased:                                                                            |                                                                                                          |                                                                                                          |                                                                                                                       |
|                                             |                                                                                                          | Boston real estate                                                                                            |              (556)                           |                                                                                                                       |                     - |
|                                             |                                                                                                          | Other real estate (See supplemental information below)                                                        |                   - |                                                                                                                       |                     - |
|                                             |                                                                                                          | Marketable securities purchased                                                                               |           (2,088)                                           |                                                                                                                       |                (420) |
|                                             |                                                                                                          | Proceeds from marketable securities sold                                                                      |            8,126                                       |                                                                                                                       |              1,485 |
|                                             | Increase of borrowings                                                                                        |            1,241                                       |                                                                                                          |                     -  |
|                                             | Increase in fixed assets                                                                                      |                (51)                |                                                                                                          |                     -  |
|                                             | Other assets                                                                                                  |                 4             |                                                                                                          |                     -  |
|                                             | BPZ legacy options exercised                                                                                  |                   - |                                                                                                          |                 479                        |
| Net Cash Provided by Investing Activities        |            6,676                                       |                                                                                                          |              1,544                           |
|                                             |                                                                                                          |                                                                                                          |                                                                                                          |                                                                                                                       |   |   |
| Cash Flows from Financing Activities:            |                                                                                                          |                                                                                                          |                                                                                                          |
|                                             | Exercise of stock options                                                                                     |                   5 |                                                                                                          |                  50                   |
| Net Cash Provided by Financing Activities        |                   5 |                                                                                                          |                  50      |
| Net Increase in Cash & Cash Equivalents      |               467                       |                                                                                                          |              1,508                           |
| Beginning Cash & Cash Equivalents            |            1,407                                       |                                                                                                          |                 179           |
| Ending Cash & Cash Equivalents               |  $         1,874                                            |                                                                                                          |  $          1,687                                      |
|                                             |                                                                                                          |                                                                                                          |                                                                                                          |                                                                                                                       |   |   |
| Supplemental Disclosure of Cash Flow Information |                                                                                                          |                                                                                                          |                                                                                                          |
|                                             | Cash paid for Interest                                                                                        |  $             11                       |                                                                                                          | $                    - |
|                                             | Cash paid for Income Taxes                                                                                    |  $           350                                  |                                                                                                          | $                    - |
|                                             | Non-cash exchange of receivable for real estate notes                                                         |  $           586                                  |                                                                                                          | $                    - |
|                                             | Non-cash exchange of receivable                                                                               |  $                -      |                                                                                                          | $                150                       |

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Consolidated Statement of Stockholders’ Equity

|                                      | Voting                                                                                |   |                            |   |                                                                            |   |                                                                                                                      |   |                                                                                                    |
|-------------------------------------------|---------------------------------------------------------------------------------------|--------|---------------------------------|--------|---------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|
|                                      | Common Stock                                                                          |   |                            |   |                                                                            |   |                                                                                                                      |   |                                                                                                    |
|                                      | Shares                                                                                |   | Amount                          |   | Additional Paid-in Capital                                                      |   | Accumulated Other Comprehensive Income                                                                                    |   | Accumulated Profit (Deficit)                                                                            |   | Stockholder Equity |
|                                      |                                                                                  |   |                            |   |                                                                            |   |                                                                                                                      |   |                                                                                                    |   |   |
| Balances, December 31, 2006 (as restated) |       7,950                                             | $      | 8                               | $      |      9,413                                             | $      |     1,483                                                                                             | $      |         (3,973)                                                 | $ |        6,931 |
| Adjust unrealized gains                   |               - |   | -                               |   |              - |   |               (902)                                 |   |                  - |   |           (902) |
| Reverse incorrect entry                   |               - |   | -                               |   |      (1,203)                                           |   |                     - |   |                  - |   |        (1,203) |
| Legal Settlement                          |               - |   | -                               |   |              - |   |                     - |   |              295                       |   |            295 |
| Balances, December 31, 2006 (as restated) |        7,950                                       |   | 8                               |   |       8,210                                       |   |                 581                       |   |          (3,678)                                           |   |         5,121 |
|                                      |                                                                                  |   |                            |   |                                                                            |   |                                                                                                                      |   |                                                                                                    |   |   |
| Net income                                |               - |   | -                               |   |              - |   |                     - |   |           2,301                                       |   |         2,301 |
| Options exercised                         |       1,000                                             |   | 1                               |   |            49            |   |                     - |   |                  - |   |              50 |
| Correct BPZ transaction                   |            33                  |   | -                               |   |              2 |   |                     - |   |                  - |   |                2 |
| Correct private placement                 |              9       |   | -                               |   |              - |   |                     - |   |                  - |   |                - |
| Legacy Option Exercise                    |               - |   | -                               |   |          647                       |   |                     - |   |                  - |   |            647 |
| Treasury stock – Armijo settlement  |        (68)                                        |   | -                               |   |         (150)                           |   |                     - |   |                  - |   |           (150) |
| Gain on marketable securities             |               - |   |    -             |   |              - |   |                 997                       |   |                                                                                                    |   |            997 |
| Balances, Dec 31, 2007                    |     8,924                                                         |   | 9                               |   |       8,758                                       |   |              1,578                                       |   |        (1,377)                                                       |   |         8,968 |
|                                      |                                                                                  |   |                            |   |                                                                            |   |                                                                                                                      |   |                                                                                                    |   |   |
| Net income                                |               - |   |   -                   |   |              - |   |                     - |   | 2,062                                                                                                   |   | 2,062 |
| Options exercised                         |         100                                   |   | -                               |   |              5 |   |                     - |   |                  - |   |                5 |
| Change in unrealized gains                |               - |   |      - |   |              - |   |           (1,578)                                                       |   |                  - |   |        (1,578) |
| Lost BPZ stock (Notes 2, 4)               | -                                                                                     |   | -                               |   | 143                                                                             |   | 633                                                                                                                       |   | -                                                                                                       |   | 776 |
| Balances - June 30, 2008                  |      9,024                                                   | $      |   9                   | $      |       8,906                                       | $      | 633                                                                                                                       | $      |              685                       | $ |         10,233 |

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Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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|                                                                                                                                                                | June 30,                                                                                                      |                                                                                                          |                                                                                                          |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                | 2008                                                                                                          | June 30,                                                                                                      |                                                                                                          |
|                                                                                                                                                                | Originally                                                                                                    | 2008                                                                                                          |                                                                                                          |
|                                                                                                                                                                | Reported                                                                                                      | RESTATED                                                                                                      | CHANGES                                                                                                       |
| ASSETS:                                                                                                                                                             |                                                                                                          |                                                                                                          |                                                                                                          |
| Current Assets:                                                                                                                                                     |                                                                                                          |                                                                                                          |                                                                                                          |
| Cash and cash equivalents                                                                                                                                           |  $        1,873                                                  |  $        1,874                                                  |  $              1                  |
| S/T Mortgages receivable - net of allowance                                                                                                                         |            6,030                                       |            5,758                                       |             (272)                                 |
| Note receivable - Jaguar Group LLC - net of allowance  of $ 423 on June 30, 2008 and unearned income of $24 on June 30, 2008 and $51 on December 31, 2007 |              677                             |              653                             |               (24)                      |
| Accrued interest receivable                                                                                                                                         |                88                  |              102                             |                14                  |
| Advances receivable                                                                                                                                                 |                17                  |                  5       |               (12)                      |
| A/R - Jaguar Group LLC (Notes 1, 4)                                                                                                                                 |              291                             |              291                             |                   - |
| Prepaid Expenses                                                                                                                                                    |                   - |                37                  |                37                  |
|        Total Current Assets                                                                                                      |            8,976                                       |            8,720                                       |             (256)                                 |
|   Property, equipment and software, net                                                                                                                   |                68                  |                86                  |                18                  |
|   Other Assets                                                                                                                                            |                                                                                                          |                                                                                                          |                                                                                                          |
|      Note receivable - (Note 4) - Aegis/Grizzle                                                                                            |              450                             |              450                             |                   - |
|      Investment - BPZ Energy - (Note 5)                                                                                                    |                   - | 1,149                                                                                                         | 1,149                                                                                                         |
|      Investment - Boston Property (Note 5)                                                                                                 |            1,890                                       |            1,835                                       |               (55)                      |
|      Real estate owned - net of impairment (Note 5)                                                                                        |              791                             |              803                             |                12                  |
|      Other assets                                                                                                                          |                   - |                11                  |                  11      |
|        Total Other Assets                                                                                                        |            3,131                                       |            4,248                                       | 1,117                                                                                                         |
| TOTAL ASSETS                                                                                                                                                        |  $      12,175                                                             |  $      13,054                                                             |  $          879                                        |
|                                                                                                                                                                |                                                                                                          |                                                                                                          |                                                                                                          |
| LIABILITIES & STOCKHOLDERS' EQUITY:                                                                                                                             |                                                                                                          |                                                                                                          |                                                                                                          |
|   Current Liabilities:                                                                                                                                    |                                                                                                          |                                                                                                          |                                                                                                          |
|       Advances repayable - related party                                                                                              |  $               -            |  $               -            |  $               -            |
|       Accounts Payable                                                                                                                |                17                  |                17                  |                   - |
|       Short term borrowings  (Note 7)                                                                                       |            1,527                                       |            1,527                                       |                   - |
|       Accrued taxes and liabilities                                                                                                   |              870                             |             1,277                                 |              407                             |
|         Total Current Liabilities                                                                                           |            2,414                                       |            2,821                                       |              407                             |
|                                                                                                                                                                |                                                                                                          |                                                                                                          |                                                                                                          |
|   Stockholders' Equity:                                                                                                                                   |                                                                                                          |                                                                                                          |                                                                                                          |
| Common stock, $0.001 par value, 100,000,000 shares authorized, 9,024,583 shares issued and outstanding at June 30, 2008 and 8,924,583 as of December 31, 2007       |                 9             |                 9             |                  -       |
|     Additional paid-in capital                                                                                                                  |            7,546                                       |            8,906                                       |            1,360                                       |
|     Treasury stock                                                                                                                              |             (150)                                 |                   - |              150                             |
|     Unrealized gain on securities                                                                                                               |                   - |               633                       |               633                       |
|     Accumulated earnings (losses)                                                                                                               |            2,356                                       |              685                             |           (1,671)                                           |
|         Total Stockholders' Equity                                                                                          |            9,761                                       |           10,233                                            |             472                                   |
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                                                                                                                        |  $      12,175                                                             |  $      13,054                                                             |  $          879                                        |

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|                                                                           | December 31,                                                                                                  | December 31,                                                                                            |                                                                                        |
|--------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|
|                                                                           | 2007                                                                                                          | 2007                                                                                                    |                                                                                        |
|                                                                           | Previously Reported                                                                                           | RESTATED                                                                                                | Change                                                                                      |
| ASSETS:                                                                        |                                                                                                          |                                                                                                    |                                                                                        |
|   Current Assets:                                                    |                                                                                                          |                                                                                                    |                                                                                        |
|      Cash and cash equivalents                        |  $       1,424                                                        |  $       1,407                                                  |  $      (17)                                             |
|      Marketable securities                            |                   - |                  - |                - |
|      Accounts receivable, net                         |                   - |                                                                                                    |                - |
|      S/T Mortgages receivable                         |          2,204                                                   |      2,148                                                                     |         (56)                                        |
|      S/T Note receivable - Jaguar Group LLC           |         1,100                                                         |     1,047                                                                           |         (53)                                        |
|      Accrued interest receivable                      |                46                  |               45                  |         (1)                                         |
|      Advances receivable - related party              |                  5       |                 5       |                - |
|      Prepaid expenses                                 |                   - |               62                  |            62                        |
|      Total Current Assets                             |       4,779                                                                     |           4,714                                       |          (65)                                  |
|                                                                           |                                                                                                          |                                                                                                    |                                                                                        |
|   Property, equipment and software, net                              |                39                  |               45                  |               6       |
|                                                                           |                                                                                                          |                                                                                                    |                                                                                        |
|   Other Assets                                                       |                                                                                                          |                                                                                                    |                                                                                        |
|      Notes receivable - (Note 4) - Aegis/Grizzle      |              450                             |             450                             |                - |
|      Investment - BPZ Energy - (note 4A)              |        3,354                                                               |           2,541                                       |       (813)                                                   |
|      Investments - (Note 4A)                          |      1,639                                                                           |           1,658                                       |            19                        |
|      Other assets                                     |                15                  |               15                  |                - |
|      Goodwill                                         |                   - | -                                                                                                  |                - |
|        Total Other Assets                   |          5,458                                                   |           4,664                                       |        (794)                                             |
| TOTAL ASSETS                                                                   |  $    10,276                                                                         |  $       9,423                                                  |  $    (853)                                                        |
| LIABILITIES & STOCKHOLDERS' EQUITY:                                        |                                                                                                          |                                                                                                    |                                                                                        |
|   Current Liabilities:                                               |                                                                                                          |                                                                                                    |                                                                                        |
|       Accounts payable                           |  $            15                             |  $           15                             |  $            -            |
|       Short term borrowings  (Note 5A) |              285                             |             286                             |               1       |
|       Accrued taxes and liabilities              |              102                             | 154                                                                                                     |        52                                                |
|         Total Current Liabilities      |              402                             | 455                                                                                                     |          53                                    |
|                                                                           |                                                                                                          |                                                                                                    |                                                                                        |
|   Stockholders' Equity:                                              |                                                                                                          |                                                                                                    |                                                                                        |
|     Common stock                                           |                  9       |                 9       |                - |
|     Additional paid-in capital                             |         7,402                                                         |       8,758                                                               |       1,356                                                   |
|     Unrealized gain on securities                          |        2,149                                                               |           1,578                                       |        (571)                                             |
|     Accumulated earnings / (deficit)                       |              314                             |     (1,377)                                                                         |     (1,691)                                                             |
|         Total Stockholders' Equity     |        9,874                                                               |           8,968                                       |    (906)                                                                     |
| TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                                   |  $     10,276                                                                   |  $       9,423                                                  |  $    (853)                                                        |

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|                                                                     | For the Three Months Ended                                                                                    |                                                                                                          | For the Six Months Ended                                                                                      |
|--------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|
|                                                                     | June 30, 2008                                                                                                 |                                                                                                          | June 30, 2008                                                                                                 |
|                                                                     | Originally Reported                                                                                           | RESTATED                                                                                                      | Change                                                                                                        |   | Originally Reported | RESTATED | Change |
| Revenue                                                                  |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
| Mortgage services and fees                                               |  $           351                                  |  $           262                                  |  $            (89)                           |   |  $           454 |  $           551 |  $             97 |
| Interest revenues                                                        |               123                       |               206                       |                 83            |   |               169 |               239 |                 70 |
| Cost of Sales                                                            |               (120)                     |               (316)                     |               (196)                     |   |               (191) |               (502) |               (311) |
| Gross Profit                                                             |               354                       |               152                       |              (202)                           |   |               432 |               288 |              (144) |
| Operating Expenses:                                                      |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
|     General and administrative                       |            1,858                                       |            1,787                                       |                (71)                |   |            2,523 |            2,397 |              (126) |
|     Depreciation and amortization                    |                   2 |                   2 |                   - |   |                   3 |                 10 |                   7 |
|         Total operating expenses |            1,860                                       |            1,789                                       |                (71)                |   |            2,526 |            2,407 |              (119) |
| Loss from operations                                                     |           (1,506)                                           |           (1,637)                                           |              (131)                           |   |           (2,094) |           (2,119) |                (25) |
|                                                                     |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
| Other income (expense)                                                   |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
|    Gain on sale of investments                            |            3,052                                       |            3,148                                       |                 96            |   |            5,422 |            5,635 |               213 |
|    Other (loss) or Gain                                   |                   - |                   - |                   - |   |                   - |                   - |                   - |
|    Net rental income                                      |                   8 |                   - |                  (8)     |   |                   7 |                   - |                  (7) |
|    Misc non-operating income/(expense)                    |                  (5)     |                 22            |                 27            |   |                (70) |                (42) |                 28 |
|    Interest income                                        |                   5 |                   9 |                   4 |   |                 23 |                   9 |                (14) |
|    Interest (expense)                                     |                  (2)     |                (56)                |                (54)                |   |                (26) |                (87) |                (61) |
|    Total other income                                     |            3,058                                       |            3,123                                       |                 65            |   |            5,356 |            5,515 |               159 |
| Net Income (Loss) before taxes                                           |            1,552                                       |            1,486                                       |                (66)                |   |            3,262 |            3,396 |               134 |
|       Provision for income tax             |              (941)                           |              (621)                           |               320                       |   |           (1,196) |           (1,334) |              (138) |
| Net Income (Loss)                                                        |  $           611                                  |  $           865                                  |  $           254                                  |   |  $         2,066 |  $         2,062 |  $            (4) |
|                                                                     |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
| Earnings Per Share:                                                      |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
|     Basic                                            |  $          0.07                                       |  $          0.10                                       |  $          0.03                                       |   |  $          0.23 |  $          0.23 |  $         - |
| Weighted Average Shares Outstanding:                                     |                                                                                                          |                                                                                                          |                                                                                                          |   |   |   |   |
|    Basic                                                  | 9,025                                                                                                         | 9,025                                                                                                         |                                                                                                          |   | 9,025 | 9,025 |   |

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|                                                                             | For the Three Months Ended                                                                                    |                                                                                                              | For the Six Months Ended                                                                                          |
|----------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------|
|                                                                             | June 30, 2007                                                                                                 |                                                                                                              | June 30, 2007                                                                                                     |
|                                                                             | Originally Reported                                                                                           | RESTATED                                                                                                          | Change                                                                                                            |   | Originally Reported | RESTATED | Change |
| Revenue                                                                          |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
| Mortgage services and fees                                                       |  $           156                                  |  $           156                                      |  $                -          |   |  $           380 |  $           380 |  $                - |
| Interest revenues                                                                |                   - |                   -     |                   -     |   |                   - |   - |                   - |
| Cost of Revenue                                                                  |                   - |                   (117) |                (117)                   |   |                   - |                 (259) |                (259) |
| Gross Profit                                                                     |               156                       |             39                                        |                  (117)       |   |               380 |               121 |                   (259) |
|                                                                             |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
| Operating Expenses:                                                              |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|     General and administrative                               |               446                       |              329                                 |                  (117)       |   |               838 |               579 |                   (259) |
|     Depreciation and amortization                            |                   2 |                   2     |                   -     |   |                   4 |                   4 |                   - |
|         Total operating expenses         |               448                       |               331                           |                   (117) |   |               842 |              583 |                   (259) |
| Loss from operations                                                             |              (292)                           |              (292)                               |                   -     |   |              (462) |              (462) |                   - |
|                                                                             |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
| Other income (expense)                                                           |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|    Gain on sale of investments                                    |               868                       |               471                           |              (397)                               |   |            1,067 |               536 |              (531) |
|    Other (loss) or Gain                                           |                   - |                   -     |                   -     |   |                 52 |                 52 |                   - |
|    Interest income                                                |                 50            |                 50                |                   -     |   |                   - |                   - |                   - |
|    Total other income                                             |               918                       |               521                           |              (397)                               |   |            1,119 |               588 |              (531) |
| Net Income before minority interest and income tax                               |               626                       |               229                           |              (397)                               |   |               657 |               126 |              (531) |
|                                                                             |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|    Minority Interest                                              |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|       Minority interest in consolidated subsidiary |                   - |                  (4)         |                  (4)         |   |                  (8) |                  (2) |                   6 |
| Net Income (Loss) before taxes                                                   |               626                       |               225                           |              (401)                               |   |               649 |               124 |              (525) |
|                                                                             |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|    Income Taxes                                                   |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|       Provision for income tax                     |                   - |                 -                 |                   -     |   |                   - |                 - |                   - |
| Net Income (Loss)                                                                |  $           626                                  |  $           225                                      |  $          (401)                                          |   |  $           649 |  $           124 |  $          (525) |
|                                                                             |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
| Earnings Per Share:                                                              |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|     Basic                                                    |  $          0.08                                       |  $          0.03                                           |  $         (0.05)                                               |   |  $          0.08 |  $          0.01 |  $         (0.07) |
| Weighted Average Shares Outstanding:                                             |                                                                                                          |                                                                                                              |                                                                                                              |   |   |   |   |
|    Basic                                                          | 7,983                                                                                                         | 8,483                                                                                                             | 500                                                                                                               |   | 7,983 | 8,483 | 500 |

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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                                  | 667 |   | 667 | (113) |   | 11 | 3 | 8 |
| Arizona                                                           |                                      | 322 |   | 334 | (65) |   |   | 1 | (1) |
| Massachusetts                                                     | 558                                       | 1,200 | 635 | 1,835 |   |   |   |   |   |
| Apartments and business                                           |                                      |   |   |   |   |   |   |   |   |
| Unimproved                                                        |                                      |   |   |   |   |   |   |   |   |
|       Total                         | 808                                       | 2,189 | 635 | 2,836 | (198) |   | 11 | 4 | 7 |
| Rent from properties sold during period                           |                                      |   |   |   |   |   |   |   |   |
|       Total                         | 808                                       | 2,189 | 635 | 2,836 | (198) |   | 11 | 4 | 7 |

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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              |   |            | 586                     | 586    |
| Other acquisitions                            |   |            |                    |   |
| Improvements, etc.                            |   | 556             | 36                      | 592    |
| Other (describe)                              |   |            |                    |   |
| Deductions during the period:                 |   |            |                    |   |
| Cost of real estate sold                      |   |            |                    |   |
| Impairments                                   |   |            | (198)                   | (198)  |
| Other (describe)                              |   |            |                    |   |
| Ending Balance, June 30, 2008                 |   | $1,835          | $803                    | $2,638 |

| Asset Type                       | Life in Years | June 30, 2008 | December 31, 2007 |
|----------------------------------|---------------|---------------|-------------------|
| Office equipment & Furniture | 5 – 7   | $ 122,000     | $ 91,000          |
| Computers                        | 3             | 24,000        | 24,000            |
| Subtotal                         |          | 146,000       | 115,000           |
| Less Accumulated Depreciation    |          | 60,000        | 70,000            |
| Net Book Value                   |          | $ 86,000      | $ 45,000          |

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| Note From                                 | Due                  | Principal Amount | 6/30/08 Balance | Annual Interest rate | Accrued Interest | Collateral                               |
|-------------------------------------------|----------------------|------------------|-----------------|----------------------|------------------|------------------------------------------|
| Robert Grizzle                            | Oct 17, 2009         | $450,000         | $450,000        | 8%                   | $42,000          | Shares and options in Navidec and Aegis  |
| Welend-Jaguar                             | June 13, 2008        | 1,100,000        | 1,391,000       | 0%                   | $-0-             | Junior security in residential mortgages |
| Short term home mortgages                 | Various and on-going | 6,985,000        | 6,882,000       | 9.95% to 14%         | $60,000          | First mortgage                           |
| Total                                     |                 |             | $8,723,000      |                 |  $102,000   |                                     |
| Less: Impairments                         |                 |             | 1,444,000       |                 |             |                                     |
| Less Deferred Income and imputed interest |                 |             | 127,000         |                 |             |                                     |
| Net Balance                               |                 |             | $7,152,000      |                 |             |                                     |

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|                                    | For the Six Months Ended                                            |                                                                  | For the Six Months Ended                                 |
|-----------------------------------------|---------------------------------------------------------------------|-----------------------------------------------------------------------|----------------------------------------------------------|
|                                    | June 30, 2008                                                       |                                                                  | June 30, 2007                                            |
|                                    | Restated (Data in thousands)                                        |                                                                  | (Data in thousands)                                      |
|                                    | Navidec                                                             |                                                                  |                                                     |   | Navidec |   |   |
|                                    | Financial                                                           | Northsight                                                            | Southie                                                  |   | Financial | Northsight | Southie |
|                                    | Services                                                            | Inc                                                                   | LLC                                                      |   | Services | Inc | LLC |
|                                    |                                                                |                                                                  |                                                     |   |   |   |   |
| Revenue                                 |  $       53                 |  $     738                              |  $      -             |   |  $          - |  $       380 |  $        - |
| Cost of Sales                           |           -       |         502                   |          -  |   |              - |             - |            - |
| Gross Profit                            |           53      |         236                   |          -  |   |              - |          380 |            - |
|                                    |                                                                |                                                                  |                                                     |   |   |   |   |
| Operating Expenses                      |                                                                |                                                                  |                                                     |   |   |   |   |
|   General and Administrative  |      1,788                                 |         369                   |        198            |   |            378 |          460 |            - |
|   Depreciation                |           4       |           6         |          -  |   |               4 |             - |            - |
| Total Operating Expenses                |      1,792                                 |         375                   |        195            |   |            382 |          460 |            - |
|                                    |                                                                |                                                                  |                                                     |   |   |   |   |
| Other Income/(Expense)                  |                                                                |                                                                  |                                                     |   |   |   |   |
|   Gain on sale of investments |      5,635                                 |           -         |          -  |   |            536 |             - |            - |
|   Interest income             |            - |           -         |          -  |   |             52 |             - |            - |
|   Interest expense            |        (37)                      |          (20)            |       (30)                 |   |              - |             - |            - |
|   Other income/(expense)      |         (73)                |           -         |                                                     |   |              - |             - |            - |
| Total Other Income/(Expense)            |      5,525                                 |          (20)            |       (30)                 |   |            588 |             - |            - |
|                                    |                                                                |                                                                  |                                                     |   |   |   |   |
| Minority Interest                       |           -       |            (6) |          -  |   |              - |             (2) |            - |
| Income Tax (Expense) Benefit            |    (1,420)                                           |           76        |          10 |   |              - |             - |            - |
| Net Income (Loss)                       |  $  2,366                                            |  $    (89)                                   |  $ (215)                                            |   |  $        206 |  $       (82) |  $        - |

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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   | $ 3,390        |
|                       |           |
| Tax Adjustments:           |           |
| Additions (Temporary):     |           |
| Non-deductible impairments | 198            |
| Additions (Permanent):     |           |
| Entertainment exclusion    | 5              |
| Projected Taxable Income   | $ 3,593        |
| Net Effective rate         | 37.06%         |
| Projected Tax - current    | $ 1,334        |

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|                                    | 2008                              |
|-----------------------------------------|-----------------------------------|
|                                    | Shares                            | Weighted AverageExercise Price |
| Outstanding,  January 1, 2008 | 3,681,510                         | $            1.18 |
| Granted                                 | -                                 | - |
| Cancelled                               | -                                 | - |
| Expired                                 | -                                 | - |
| Exercised                               |     (100,000) |                - |
| Outstanding, June 30, 2008              | 3,581,510                         | $             1.18 |
| Options Exercisable , June 30, 2008     | 3,581,510                         | $             1.18 |

| Number of common shares 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                                   |           |            |

| Period                | Amount Due |
|-----------------------|------------|
| July – Dec 2008 | $69,000    |
| 2009                  | $137,000   |
| 2010                  | $105,000   |
| 2011                  | $12,000    |

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

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| Reserve for short term mortgages receivables | $1,021,000 |
|----------------------------------------------|------------|
| Reserve for Real Estate Owned                | $198,000   |
| Reserve for amounts owed from Jaguar         | $423,000   |

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ITEM 3.  QUANTATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 4.  CONTROLS AND PROCEDURES

ITEM 4T. CONTROLS AND PROCEDURES

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

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|   |          (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 and directors; 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. |
|--------|-------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | 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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PART II.   OTHER INFORMATION

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ITEM 6.  EXHIBITS

SIGNATURES

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