UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 WASHINGTON,
D.C. 20549
 _______________
  FORM
10-Q
 _______________
  x
              QUARTERLY
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
  For
the quarterly period ended March 31, 2008
  o
              TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
 
 For the transition period from
______to______.
  INTERNATIONAL MERGERS AND ACQUISITIONS
CORP.
 (Exact
name of registrant as specified in Charter)
  Florida
              
              000-52717
              
              65-0968841(State
      or other jurisdiction of
                incorporation
      or organization)
              
              (Commission
      File No.)
              
              (IRS
      Employee Identification No.)
 
 1835
Seneca Blvd
 Winter
Springs, FL 32708
 (Address
of Principal Executive Offices)
 _______________
  (407)341-5498
 (Issuer
Telephone number)
 _______________
  (Former
Name or Former Address if Changed Since Last Report)
  Check
whether the issuer (1) has filed all reports required to be filed by Section 13
or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter
period that the issuer was required to file such reports), and (2)has been
subject to such filing requirements for the past 90 days. Yes x  No
o
  Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company filer.
 See definition of “accelerated filer” and “large accelerated filer” in
Rule 12b-2 of the Exchange Act (Check one):
  Large
Accelerated Filer o     Accelerated
Filer o     Non-Accelerated
Filer o     Smaller
Reporting Company x
 
 
 Indicate
by check mark whether the registrant is a shell company as defined in Rule 12b-2
of the Exchange Act.
 Yes x  No
o
  State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of May 12, 2008: 9,000,000 shares of common stock.
  
 
  
   INTERNATIONAL
MERGERS AND ACQUISITIONS CORP.
 
 FORM
10-Q
  March
31, 2008
  INDEX
  PART
I-- FINANCIAL INFORMATION
   
 Item
      1.
              Financial
      StatementsItem
      2.
              Management’s
      Discussion and Analysis of Financial ConditionItem
      3
              Quantitative
      and Qualitative Disclosures About Market RiskItem
      4T.
              Control
      and Procedures
   PART
II—OTHER INFORMATION
  Item
      1
              Legal
      ProceedingsItem
      1A.
              Risk
      FactorsItem
      2.
              Unregistered
      Sales of Equity Securities and Use of ProceedsItem
      3.
              Defaults
      Upon Senior SecuritiesItem
      4.
              Submission
      of Matters to a Vote of Security HoldersItem
      5.
              Other
      InformationItem
      6.
              Exhibits
      and Reports on Form 8-K
   SIGNATURE
   
   Item 1. Financial
Information
  INTERNATIONAL
MERGERS AND ACQUISITIONS CORP.
 (f/k/a
CAPITAL VENTUES GROUP III, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 FINANCIAL
STATEMENTS
  AS
OF MARCH 31, 2008
 
 
 CONTENTS
 
 
 PAGE
              F1
              CONDENSED
      BALANCE SHEETS AS OF MARCH 31, 2008 (UNAUDITED) AND AS OF DECEMBER 31,
      2007 (AUDITED).PAGE
              F2
              CONDENSED
      STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2008 AND
      2007 AND FOR THE PERIOD FROM DECEMBER 17, 1999 (INCEPTION) TO MARCH 31,
      2008 (UNAUDITED).PAGES
              F3
              CONDENSED
      STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY/(DEFICIENCY) FOR THE PERIOD
      FROM DECEMBER 17, 1999 (INCEPTION) TO MARCH 31, 2008
      (UNAUDITED).PAGE
              F4
              CONDENSED
      STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2008 AND
      2007 AND FOR THE PERIOD FROM DECEMBER 17, 1999 (INCEPTION) TO MARCH 31,
      2008 (UNAUDITED).PAGES
              F5
      - F8
              NOTES
      TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED).




INTERNATIONAL
      MERGERS & ACQUISITIONS CORP.F/K/A
      Capital Ventures Group III, Inc.(A
      Development Stage Company)CONDENSED
      BALANCE SHEETSMarch
      31,
                  2008
                
                
                December
      31,
                  2007(Unaudited)
                
                
                (Audited)ASSETSCURRENT
      ASSETSCash
                
                $
                17,298
                
                
                $
                25,582Accrued
      Interest Receivable
                
                
                1,051
                
                
                
                323Note
      Receivable
                
                
                29,500
                
                
                
                29,500TOTAL
      CURRENT ASSETS
                
                $
                47,849
                
                
                $
                55,405TOTAL
      ASSETS
                
                $
                47,849
                
                
                $
                55,405LIABILITIES
      AND STOCKHOLDERS' DEFICIENCYCURRENT
      LIABILITIESAccounts
      Payable and Accrued Expenses
                
                $
                9,048
                
                
                $
                963Accrued
      Consulting Expense
                
                
                45,000
                
                
                
                30,000Accrued
      Interest on Note Payable, Shareholder
                
                
                855
                
                
                
                263Accrued
      Payroll
                
                
                20,000
                
                
                
                14,000Notes
      Payable - Shareholder
                
                
                24,000
                
                
                
                24,000TOTAL
      CURRENT LIABILITIES
                
                $
                98,903
                
                
                $
                69,226TOTAL
      LIABILITIES
                
                $
                98,903
                
                
                $
                69,226STOCKHOLDERS'
      DEFICIENCYPreferred
      stock, $0.001 par value, 10,000,000 shares authorized,0
      shares issued and outstanding
                
                
                -Common
      stock, $0.001 par value, 100,000,000 shares authorized,9,000,000
      & 9,000,000 issued and outstanding, respectively
                
                $
                9,000
                
                
                $
                9,000Additional
      paid-in capital
                
                
                514,145
                
                
                
                514,145Deferred
      Stock Compensation
                
                
                (254,954
                )
                
                
                (305,944
                )Stock
      Subscription Receivable
                
                
                (33,300
                )
                
                
                (33,300
                )Accumulated
      deficit during development stage
                
                
                (285,945
                )
                
                
                (197,722
                )TOTAL
      STOCKHOLDERS' DEFICIENCY
                
                $
                (51,054
                )
                
                $
                (13,821
                )TOTAL
      LIABILITIES AND STOCKHOLDERS' DEFICIENCY
                
                $
                47,849
                
                
                $
                55,405
  The
accompanying notes are an integral part of these financial
statements.
   F-1
  INTERNATIONAL MERGERS & ACQUISITIONS
      CORP.F/K/A
      Capital Ventures Group III, Inc.(A
      Development Stage Company)CONDENSED
      STATEMENTS OF OPERATIONS
                  
                  
                  
                  
                  
                  
                  
                  For
      the Period FromThree
      Months Ended
                  
                  
                  Three
      Months Ended
                  
                  
                  12/31/1999
      (Inception)March
      31,
                    2008
                  
                  
                  March
      31,
                    2007
                  
                  
                  to
      March 31,
                    2008(Unaudited)
                  
                  
                  (Unaudited)
                  
                  
                  (Unaudited)REVENUES
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -EXPENSESConsulting
                  
                  $
                  50,991
                  
                  
                  
                  
                  
                  
                  $
                  182,584Payroll
      Expenses
                  
                  
                  13,004
                  
                  
                  
                  
                  
                  
                  
                  38,602Professional
                  
                  
                  23,554
                  
                  
                  
                  
                  
                  
                  
                  54,755General
      & Administrative
                  
                  
                  810
                  
                  
                  
                  150
                  
                  
                  
                  10,200Total
      Expenses
                  
                  $
                  88,359
                  
                  
                  $
                  150
                  
                  
                  $
                  286,141LOSS
      FROM OPERATIONS
                  
                  $
                  (88,359
                  )
                  
                  $
                  (150
                  )
                  
                  $
                  (286,141
                  )OTHER
      INCOME (EXPENSE)Interest
      income
                  
                  $
                  728
                  
                  
                  
                  
                  
                  
                  $
                  1,051Interest
      expense
                  
                  
                  (592
                  )
                  
                  
                  
                  
                  
                  
                  (855
                  )TOTAL
      OTHER INCOME (EXPENSE)
                  
                  $
                  136
                  
                  
                  $
                  -
                  
                  
                  $
                  196INCOME
      TAX EXPENSE
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -NET
      LOSS
                  
                  $
                  (88,223
                  )
                  
                  $
                  (150
                  )
                  
                  $
                  (285,945
                  )NET
      LOSS PER SHARE,BASIC
      AND DILUTED
                  
                  $
                  (0.01
                  )
                  
                  $
                  -WEIGHTED
      AVERAGE NUMBER OFCOMMON
      SHARES OUTSTANDING,BASIC
      AND DILUTED
                  
                  $
                  9,000,000
                  
                  
                  $
                  1,000,000
  The accompanying notes are
an integral part of these financial statements.
   F-2
  INTERNATIONAL MERGERS & ACQUISITIONS
      CORP.F/K/A
      Capital Ventures Group III, Inc.(A
      Development Stage Company)STATEMENT
      OF CHANGES IN STOCKHOLDERS' DEFICIENCYFOR
      THE PERIOD FROM DECEMBER 19, 1999 (INCEPTION) TO MARCH 31, 2008 (Unaudited)DeficitPreferred
      stock
                
                
                Common
      stock
                
                
                
                
                
                accumulated$.001
      Par Value
                
                
                $.001
      Par Value
                
                
                Additional
                
                
                during
                
                
                
                
                
                
                
                
                Totalpaid-in
                
                
                development
                
                
                Subscription
                
                
                Deferred
                
                
                Stockholder'sShares
                
                
                Amount
                
                
                Shares
                
                
                Amount
                
                
                capital
                
                
                stage
                
                
                Receivable
                
                
                Compensation
                
                
                DeficiencyBalance
      December 19, 1999 (Inception)
                
                
                
                -
                
                
                $
                -
                
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                
                -
                
                
                $
                -Common
      stock issued to founders for cash ($0.001 per share)
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                1,000In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                5,970
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                5,970Net
      loss for the period December 17, 1999 (inception to December 31,
      1999)
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (6,970
                )
                
                
                -
                
                
                
                -
                
                
                
                (6,970
                )Balance
      December 31, 1999
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                5,970
                
                
                
                (6,970
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Net
      loss, 2000
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (150
                )
                
                
                -
                
                
                
                -
                
                
                
                (150
                )Balance
      December 31, 2000
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                6,120
                
                
                
                (7,120
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Net
      loss, 2001
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (150
                )
                
                
                -
                
                
                
                -
                
                
                
                (150
                )Balance
      December 31, 2001
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                6,270
                
                
                
                (7,270
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Net
      loss, 2002
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (150
                )
                
                
                -
                
                
                
                -
                
                
                
                (150
                )Balance
      December 31, 2002
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                6,420
                
                
                
                (7,420
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Net
      loss, 2003
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (150
                )
                
                
                -
                
                
                
                -
                
                
                
                (150
                )Balance
      December 31, 2003
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                6,570
                
                
                
                (7,570
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Net
      loss, 2004
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (150
                )
                
                
                -
                
                
                
                -
                
                
                
                (150
                )Balance
      December 31, 2004
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                6,720
                
                
                
                (7,720
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                550
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                550Net
      loss, 2005
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (550
                )
                
                
                -
                
                
                
                -
                
                
                
                (550
                )Balance,
      December 31, 2005
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                7,270
                
                
                
                (8,270
                )
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Net
      loss 2006
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (150
                )
                
                
                -
                
                
                
                -
                
                
                
                (150
                )Balance,
      December 31, 2006
                
                
                
                -
                
                
                
                -
                
                
                
                1,000,000
                
                
                
                1,000
                
                
                
                7,420
                
                
                
                (8,420
                )
                
                
                -
                
                
                
                -
                
                
                
                -Shares
      returned and cancelled
                
                
                
                -
                
                
                
                -
                
                
                
                (122,500
                )
                
                
                (123
                )
                
                
                123
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -In-kind
      contirubiton
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                150Shares
      issued for cash
                
                
                
                -
                
                
                
                -
                
                
                
                7,020,000
                
                
                
                7,020
                
                
                
                99,630
                
                
                
                -
                
                
                
                (33,300
                )
                
                
                -
                
                
                
                73,350Shares
      issued for services
                
                
                
                -
                
                
                
                -
                
                
                
                1,102,500
                
                
                
                1,103
                
                
                
                406,822
                
                
                
                -
                
                
                
                -
                
                
                
                (305,944
                )
                
                
                101,981Net
      loss 2007
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (189,302
                )
                
                
                -
                
                
                
                -
                
                
                
                (189,302
                )Balance,
      December 31, 2007
                
                
                
                -
                
                
                
                -
                
                
                
                9,000,000
                
                
                
                9,000
                
                
                
                514,145
                
                
                
                (197,722
                )
                
                
                (33,300
                )
                
                
                (305,944
                )
                
                
                (13,821
                )Shares
      issued for services
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                50,990
                
                
                
                50,990Net
      loss for the three months ended March 31, 2008
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (88,223
                )
                
                
                -
                
                
                
                -
                
                
                
                (88,223
                )Balance,
      March 31, 2008
                
                
                
                -
                
                
                
                -
                
                
                
                9,000,000
                
                
                
                9,000
                
                
                
                514,145
                
                
                
                (285,945
                )
                
                
                (33,300
                )
                
                
                (254,954
                )
                
                
                (51,054
                )
  The accompanying notes are
an integral part of these financial statements.
   F-3
 INTERNATIONAL
      MERGERS & ACQUISITIONS CORP.F/K/A
      Capital Ventures Group III, Inc.(A
      Development Stage Company)CONDENSED
      STATEMENT OF CASH FLOWSFor
      the Period FromThree
      Months Ended
                  
                  
                  Three
      Months Ended
                  
                  
                  12/31/1999
      (Inception)March
      31,
                    2008
                  
                  
                  March
      31,
                    2007
                  
                  
                  to
      March 31,
                    2008(Unaudited)
                  
                  
                  (Unaudited)
                  
                  
                  (Unaudited)CASH
      FLOWS FROM OPERATING ACTIVITIES:Net
      loss
                  
                  $
                  (88,223
                  )
                  
                  $
                  (150
                  )
                  
                  $
                  (285,945
                  )Adjustments
      to reconcile net loss to net cash used in operating
      activities:Increase
      (Decrease) in-kind contributions
                  
                  
                  -
                  
                  
                  
                  150
                  
                  
                  
                  7,570Accretion
      of Deferred Stock Compensation
                  
                  
                  50,990
                  
                  
                  
                  -
                  
                  
                  
                  152,970Changes
      in operating assets and liabilities:Increase
      in accrued interest receivable
                  
                  
                  (728
                  )
                  
                  
                  -
                  
                  
                  
                  (1,051
                  )Increase
      (Decrease) in accounts payable & accrued
expenses
                  
                  
                  29,677
                  
                  
                  
                  -
                  
                  
                  
                  74,904Net
      cash used in operating activities
                  
                  $
                  (8,284
                  )
                  
                  $
                  -
                  
                  
                  $
                  (51,552
                  )CASH
      FLOWS FROM INVESTING ACTIVITIES:Issuance
      of note receivable
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (29,500
                  )Net
      cash provided by investing activities
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  (29,500
                  )CASH
      FLOWS FROM FINANCING ACTIVITIES:Proceeds
      from issuance of common stock
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  74,350Proceeds
      from shareholder loan
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  24,000Net
      cash provided by financing activities
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  99,453NET
      INCREASE IN CASH
                  
                  $
                  (8,284
                  )
                  
                  $
                  -
                  
                  
                  $
                  17,298CASH,
      BEGINNING OF PERIOD
                  
                  
                  25,582
                  
                  
                  
                  -CASH,
      END OF PERIOD
                  
                  $
                  17,298
                  
                  
                  $
                  -
                  
                  
                  $
                  17,298SUPPLEMENTAL
      CASH FLOW INFORMATION:Interest
      paid
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -Income
      taxes paid
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
  The accompanying notes are
an integral part of these financial statements.
  F-4
 
  INTERNATIONAL
MERGERS AND ACQUISITIONS CORP. (f/k/a CAPITAL VENTUES GROUP III,
INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 MARCH
31, 2008
 NOTES TO CONDENSED FINANCIAL
STATEMENTS
 
 NOTE
      1
              SUMMARY OF SIGNIFICANT
      ACCOUNTING POLICIES AND
ORGANIZATION
 
 (A)
Organization
  International
Mergers and Acquisitions Corp. (f/k/a Capital Ventures Group III, Inc.) (a
development stage company) (the "Company") was incorporated under the laws of
the State of Florida on December 19, 1999. The Company was organized to provide
business services and financing to emerging growth entities.
  The
accompanying unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in The United States of
America and the rules and regulations of the Securities and Exchange Commission
for interim financial information.  Accordingly, they do not include
all the information necessary for a comprehensive presentation of financial
position and results of operations.
 
 It is
management's opinion, however that all material adjustments (consisting of
normal recurring adjustments) have been made which are necessary for a fair
financial statements presentation.  The results for the interim period
are not necessarily indicative of the results to be expected for the
year.
 
 Activities
during the development stage include developing the business plan and raising
capital.
  (B) Use of
Estimates
 
 In
preparing financial statements in conformity with generally accepted accounting
principles, management is required to make estimates and assumptions that affect
the reported amounts of assets and liabilities and the disclosure of contingent
assets and liabilities at the date of the financial statements and revenues and
expenses during the reported period.  Actual results could differ from
those estimates.
 
 (C) Cash
Equivalents
 
 For the
purpose of the cash flow statement, the Company considers all highly liquid
investments with original maturities of three months or less at the time of
purchase to be cash equivalents.
 
 (D) Loss Per
Share
 
 Basic and
diluted net loss per common share is computed based upon the weighted average
common shares outstanding as defined by Financial Accounting Standards No. 128,
“Earnings per Share.”  As of March 31 2008 and 2007, there were no
common share equivalents outstanding.
 
 F-5
  INTERNATIONAL
MERGERS AND ACQUISITIONS CORP. (f/k/a CAPITAL VENTUES GROUP III,
INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 MARCH
31, 2008
 NOTES TO CONDENSED FINANCIAL
STATEMENTS
 (E) Income
Taxes
 
 The
Company accounts for income taxes under the Statement of Financial Accounting
Standards No. 109, “Accounting for Income Taxes” (“Statement
109”).  Under Statement 109, deferred tax assets and liabilities are
recognized for the future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets and liabilities and
their respective tax bases.  Deferred tax assets and liabilities are
measured using enacted tax rates expected to apply to taxable income in the
years in which those temporary differences are expected to be recovered or
settled.  Under Statement 109, the effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in the period that
includes the enactment date.
 
 (F) Business
Segments
 
 The
Company operates in one segment and therefore segment information is not
presented.
 
 (G) Fair
Value
 
 The
Company's financial instruments as defined by Statement of Financial Accounting
Standards No. 107, "Disclosures about Fair Value of Financial Instruments,"
include cash, note receivable, note payable shareholder and accrued
expenses.  All instruments are accounted for on a historical cost
basis, which, due to the short maturity of these financial instruments,
approximates fair value at the reporting dates.
  (H) Revenue
Recognition
 
 The
Company will recognize revenue on arrangements in accordance with Securities and
Exchange Commission Staff Accounting Bulletin No. 101, “Revenue Recognition in
Financial Statements” and No. 104, “Revenue Recognition”. In all cases, revenue
will be recognized only when the price is fixed or determinable, persuasive
evidence of an arrangement exists, the service is performed and collectability
is reasonably assured.
  (I) Recent Accounting
Pronouncements
  In March
2008, the FASB issued SFAS No. 161, “Disclosures about Derivative
Instruments and Hedging Activities, an amendment of FASB Statement No. 133”
(SFAS161). This statement is intended
to improve transparency in financial reporting by requiring enhanced disclosures
of an entity’s derivative instruments and hedging activities and their effects
on the entity’s financial position, financial performance, and cash flows.SFAS161 applies to all derivative
instruments within the scope of SFAS 133, “Accounting for Derivative Instruments
and Hedging Activities” (SFAS 133) as well as related hedged items, bifurcated
derivatives, and nonderivative instruments that are designated and qualify as
hedging instruments.
   F-6
  INTERNATIONAL
MERGERS AND ACQUISITIONS CORP. (f/k/a CAPITAL VENTUES GROUP III,
INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 MARCH
31, 2008
 NOTES TO CONDENSED FINANCIAL
STATEMENTS
  Entities
with instruments subject to SFAS161
must provide more robust qualitative disclosures and expanded quantitative
disclosures.SFAS161 is effective
prospectively for financial statements issued for fiscal years and interim
periods beginning after November 15, 2008, with early application
permitted. We are currently evaluating the disclosure implications of this
statement.
 
 NOTE
      2
              NOTE
      RECEIVABLE
 
 On
November 21, 2007 the company advanced $29,500 to James Crowell.  The
terms of the loan call for simple interest of 10% with a maturity date of 30
days from the date of the note.  As of year end the note was in
default.  Upon default of the note receivable the balance will accrue
interest at a rate of 16%.  Total accrued interest income as of March
31, 2008 and December 31, 2007 was $1,051 and $323 respectively.  The
term of the note was subsequently extended to April 30, 2008.  As of
May 12, 2008 the note is in default.
 
 NOTE
      3
              NOTE PAYABLE -
      SHAREHOLDER
 
 On
November 21, 2007 the company borrowed $24,000 from a
shareholder.  The terms of the loan call for simple interest of 10%
with a maturity date of 30 days from the date of the note.  As of year
end the note was in default.  Upon default of the note payable the
balance will accrue interest at a rate of 16%.  Total accrued interest
expense as of March 31, 2008 and December 31, 2007 was $1,257 and $263,
respectively.  The term of the note was subsequently extended to April
30, 20008.  As of May 12, 2008 the note is in default.
  NOTE
      4
              STOCKHOLDERS’
      DEFICIENCY
  (A) Amendment to Articles of
Incorporation
 
 During
June 2007, the Company amended its Articles of Incorporation to change its name from
Capital Ventures Group III, Inc. to International Mergers & Acquisitions
Corp. and change the capital structure toreflect
100,000,000 common and 10,000,000 blank check preferred shares with a par value
of $0.001.  The financial statements have been retroactively adjusted
to reflect the changes.
 
 
 F-7
 INTERNATIONAL
MERGERS AND ACQUISITIONS CORP. (f/k/a CAPITAL VENTUES GROUP III,
INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 MARCH
31, 2008
 NOTES TO CONDENSED FINANCIAL
STATEMENTS
 
 (B) Contribution of Common
Stock
 
 During
June 2007, the principal stockholder contributed 122,500 shares of common stock
to the Company for no consideration.  The shares were cancelled by the
Company upon receipt.
 
 (C) Common Stock
Issued for Cash
 
 On
December 17, 1999, the Company issued 1,000,000 shares of common stock to its
founders for cash of $1,000 ($0.001 per share).
 
 During
July 2007, the Company issued 6,750,000 shares of common stock to four
individuals for cash of $6,750 ($0.001 per share).
 
 During
July 2007, the Company issued 270,000 shares of common stock to three
individuals for cash of $99,900 ($0.37 per share).  As of September
30, 2007, a subscription receivable of $33,300 remains uncollected.
 
 (D) In-Kind
Contribution
 
 For the
period ended December 31, 2007 the stockholder of the Company paid $150 of
operating expenses on behalf of the Company (See Note 5).
  During
2006, 2005, 2004, 2003, 2002, 2001, 2000 and 1999, the stockholder of the
Company paid $150, $550, $150, $150, $150, $150, $150 and $5,970, respectively,
of operating expenses on behalf of the Company
(See Note 5).
  (E) Stock issued for
Services
  In July
2007, the Company entered into advisory agreements with five individuals to
provide assist with the due diligence, strategic planning, marketing,
negotiation, and closing activities with a target company. The agreements call
for the advisors to provide services for a period of two years. In addition the
Company sold the advisors 652,500 shares of common stock for cash proceeds of
$653 and recorded the fair value of the common stock of $241,425. The fair value
of the common stock will be recognized over the term of the agreements. For the
three months ended March 31, 2008, the Company has recognized consulting expense
of $50,990 under the agreements.
 
 During
June 2007, the Company issued 450,000 shares of common stock to its CEO under an
employment agreement for cash of $450 and recorded the fair value of the common
stock of $166,500.
    F-8
 
  INTERNATIONAL
MERGERS AND ACQUISITIONS CORP. (f/k/a CAPITAL VENTUES GROUP III,
INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 MARCH
31, 2008
 NOTES TO CONDENSED FINANCIAL
STATEMENTS
 
 NOTE
5  RELATED PARTY
TRANSACTIONS
 
 A
stockholder of the Company paid $7,570 of expenses on behalf of the Company from
inception (See Note 4 (D)).
 
 A
stockholder in the company advanced $24,000 under the terms of a note payable
(See Note 3).
 
 NOTE 6 COMMITMENTS AND
CONTINGINCIES
  (A) Employment
Agreement
 
 On June
28, 2007, the Company entered into an employment agreement with an individual to
become the CEO.  The agreement calls for a monthly salary of $4,000,
of which half will accrue until the Company has raised $500,000 in a private
placement and 450,000 shares of common stock that vest monthly over a two year
period.  The employment agreement is at will and can be terminated
immediately by the Company or the CEO with 60 days notice
  (B) Consulting
Agreements
 
 During
July 2007, the Company entered into five separate advisory agreements with
individuals to serve as advisors to assist with the due diligence, strategic
planning, marketing, negotiation, and closing activities with a target company.
The advisory agreements call for the issuance of a total of 652,500 shares of
common stock. The shares vest monthly over a two year period and were valued at
a recent cash offering price of $0.37 per share (See Note 4(E)).
 
 During
June 2007, the Company entered into a consulting agreement for strategic
planning services for a period of twelve months for a monthly fee of $5,000. The
monthly fee will accrue until the Company raises $500,000 in a private
placement.
  NOTE 7 GOING
CONCERN
 
 As
reflected in the accompanying financial statements, the Company is in the
development stage with no operations, has a deficit accumulated since inception
of $285,945, negative cash flows from operations since inception of $51,552 and
a shareholder’s deficit of $51,054 for the period ending March 31,
2008.
   F-9
 
  INTERNATIONAL
MERGERS AND ACQUISITIONS CORP. (f/k/a CAPITAL VENTUES GROUP III,
INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 MARCH
31, 2008
 NOTES TO CONDENSED FINANCIAL
STATEMENTS
  This
raises substantial doubt about its ability to continue as a going
concern.  The ability of the Company to continue as a going concern is
dependent on the Company’s ability to raise additional capital and implement its
business plan.  The financial statements do not include any
adjustments that might be necessary if the Company is unable to continue as a
going concern.
 
 Management
believes that actions presently being taken to obtain additional funding and
implement its strategic plans provide the opportunity for the Company to
continue as a going concern.
 
 NOTE 8 SUBSEQUENT
EVENT
 
 On
November 7, 2007 the Company entered a non-binding letter of intent to license
certain intellectual property from Jim Crowell and enLIGHTen in exchange for a
34% ownership interest in International Mergers & Acquisitions Corp., or its
assigns, and a commitment to provide not less than $2 million in capital
contributions, grants or borrowings.  As of May 12, 2008, no
definitive agreements have been entered and this transaction has not
closed.
 
 F-10






Item 2.   Management’s Discussion and Analysis
or Plan of Operation
 
 We intend
to enter into a business combination with a target company in exchange for cash
and/or our securities. As of May 12, 2008, neither our officer and director nor
any affiliate has engaged in any negotiations with any representative of any
specific entity regarding the possibility of a business combination with
us.
  Management
anticipates seeking out a target company through solicitation. Such solicitation
may include newspaper or magazine advertisements, mailings and other
distributions to law firms, accounting firms, investment bankers, financial
advisors and similar persons, the use of one or more World Wide Websites and
similar methods. No estimate can be made as to the number of persons who will be
contacted or solicited. Management may engage in such solicitation directly or
may employ one or more other entities to conduct or assist in such solicitation.
Management and its affiliates will pay referral fees to consultants and others
who refer target businesses for mergers into public companies in which
management and its affiliates have an interest. Payments are made if a business
combination occurs, and may consist of cash or a portion of the stock in the
Company retained by management and its affiliates, or both.
 
 Our
Certificate of Incorporation provides that we may indemnify our officers and/or
directors for liabilities, which can include liabilities arising under the
securities laws. Therefore, our assets could be used or attached to satisfy any
liabilities subject to such indemnification.
  Results of
Operation
  We did
not have any operating income from inception through March 31, 2008. From
inception through the period ended March 31, 2008, we recognized a net loss from
operations of $285,945. For the three months ended March 31, 2008, we recognized
a net loss from operations of $88,223. Expenses for the three months were
comprised of costs mainly associated with consulting, legal, accounting and
office.
  Liquidity and Capital
Resources
  At March
31, 2008, we had cash of $17,298. Therefore we have limited capital resources
and will rely upon the issuance of common stock and additional capital
contributions from shareholders to fund administrative expenses pending
acquisition of an operating company. In the event such efforts are unsuccessful,
contingent plans have been arranged to provide that our current director is to
fund required future filings under the 1934 Act, and existing shareholders have
expressed an interest in additional funding if necessary to continue as a going
concern.
 
 On
November 21, 2007 we borrowed $24,000 from a shareholder.  The terms
of the loan call for simple interest of 10% with a maturity date of 30 days from
the date of the note.  As of year end the note was in
default.  Upon default of the note payable the balance will accrue
interest at a rate of 16%.  Total accrued interest expense as of March
31, 2008 and December 31, 2007 was $1,257 and $263, respectively.  The
term of the note was subsequently extended to April 30, 20008.  As of
May 12, 2008 the note is in default.
  We
currently do not have enough cash to satisfy our minimum cash requirements for
the next twelve months. As reflected in the accompanying financial statements,
we are in the development stage with limited operations. This raises substantial
doubt about our ability to continue as a going concern. Our ability to continue
as a going concern is dependent on our ability to raise additional capital. The
financial statements do not include any adjustments that might be necessary if
we are unable to continue as a going concern.
  Plan of
Operation
  During
the next twelve months, the Company will actively seek out and investigate
possible business opportunities with the intent to acquire or merge with one or
more business ventures. Because the Company has limited funds, it may be
necessary for the sole officer and director to either advance funds to the
Company or to accrue expenses until such time as a successful business
consolidation can be made.
  The
Company will not make it a condition that the target company must repay funds
advanced by its officers and directors. Management intends to hold expenses to a
minimum and to obtain services on a contingency basis when possible. However, if
the Company engages outside advisors or consultants in its search for business
opportunities, it may be necessary for the Company to attempt to raise
additional funds. As of the date hereof, the Company has not made any
arrangements or definitive agreements to use outside advisors or consultants or
to raise any capital. In the event the Company does need to raise capital most
likely the only method available to the Company would be the private sale of its
securities.
 
 Because
of the nature of the Company as a development stage company, it is unlikely that
it could make a public sale of securities or be able to borrow any significant
sum from either a commercial or private lender. There can be no assurance that
the Company will able to obtain additional funding when and if needed, or that
such funding, if available, can be obtained on terms acceptable to the
Company.
  The
Company does not intend to use any employees, with the possible exception of
part-time clerical assistance on an as-needed basis. Outside advisors or
consultants will be used only if they can be obtained for minimal cost or on a
deferred payment basis. Management is convinced that it will be able to operate
in this manner and to continue its search for business opportunities during the
next twelve months.
  On
November 7, 2007 the Company entered a non-binding letter of intent to license
certain intellectual property from Jim Crowell and enLIGHTen in exchange for a
34% ownership interest in International Mergers & Acquisitions Corp., or its
assigns, and a commitment to provide not less than $2 million in capital
contributions, grants or borrowings. As of May 12, 2008, no definitive
agreements have been entered and this transaction has not closed.
 
  Critical Accounting
Policies
  The
Company’s financial statements and related public financial information are
based on the application of accounting principles generally accepted in the
United States (“GAAP”). GAAP requires the use of estimates; assumptions,
judgments and subjective interpretations of accounting principles that have an
impact on the assets, liabilities, revenue and expense amounts reported. These
estimates can also affect supplemental information contained in our external
disclosures including information regarding contingencies, risk and financial
condition. We believe our use if estimates and underlying accounting assumptions
adhere to GAAP and are consistently and conservatively applied. We base our
estimates on historical experience and on various other assumptions that we
believe to be reasonable under the circumstances. Actual results may differ
materially from these estimates under different assumptions or conditions. We
continue to monitor significant estimates made during the preparation of our
financial statements.
  Our
significant accounting policies are summarized in Note 1 of our financial
statements. While all these significant accounting policies impact its financial
condition and results of operations, Equity Ventures views certain of these
policies as critical. Policies determined to be critical are those policies that
have the most significant impact on Equity Ventures’ consolidated financial
statements and require management to use a greater degree of judgment and
estimates. Actual results may differ from those estimates. Our management
believes that given current facts and circumstances, it is unlikely that
applying any other reasonable judgments or estimate methodologies would cause
effect on our  results of operations, financial position or liquidity
for the periods presented in this report.
  Recent Accounting
Pronouncements
 
 In March
2008, the FASB issued SFAS No. 161, “Disclosures about Derivative
Instruments and Hedging Activities, an amendment of FASB Statement No. 133”
(SFAS161). This statement is intended
to improve transparency in financial reporting by requiring enhanced disclosures
of an entity’s derivative instruments and hedging activities and their effects
on the entity’s financial position, financial performance, and cash flows.SFAS161 applies to all derivative
instruments within the scope of SFAS 133, “Accounting for Derivative Instruments
and Hedging Activities” (SFAS 133) as well as related hedged items, bifurcated
derivatives, and nonderivative instruments that are designated and qualify as
hedging instruments. Entities with instruments subject toSFAS161 must provide more robust
qualitative disclosures and expanded quantitative disclosures.SFAS161 is effective prospectively for
financial statements issued for fiscal years and interim periods beginning after
November 15, 2008, with early application permitted. We are currently
evaluating the disclosure implications of this statement.
 
 Off Balance Sheet
Transactions
 
 None.
  Item
3. Quantitative and Qualitative Disclosures About Market Risk
 
 The
Company is subject to certain market risks including changes in interest rates.
 The Company does not undertake any specific actions to limit those
exposures.
  Item
4T.  Controls and Procedures
 
 Pursuant
to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”),
the Company carried out an evaluation, with the participation of the Company’s
management, including the Company’s Chief Executive Officer (“CEO”) and Chief
Accounting Officer (“CAO”) (the Company’s principal financial and accounting
officer), of the effectiveness of the Company’s disclosure controls and
procedures (as defined under Rule 13a-15(e) und er the Exchange Act) as of the
end of the period covered by this report. Based upon that evaluation, the
Company’s CEO and CAO concluded that the Company’s disclosure controls and
procedures are effective to ensure that information required to be disclosed by
the Company in the reports that the Company files or submits under the Exchange
Act, is recorded, processed, summarized and reported, within the time periods
specified in the SEC’s rules and forms, and that such information is accumulated
and communicated to the Company’s management, including the Company’s CEO and
CAO, as appropriate, to allow timely decisions regarding required
disclosure.
 
 Internal
control over financial reporting is a process to provide reasonable assurance
regarding the reliability of consolidated financial reporting and the
preparation of financial statements for external purposes in accordance with
U.S. generally accepted accounting principles.  There has been no change in
the Company’s internal control over financial reporting during the quarter ended
March 31, 2008 that has materially affected, or is reasonably likely to
materially affect, the Company’s internal control over financial
reporting.
  There
have been no significant changes in the Company’s internal controls or in other
factors that could significantly affect internal controls subsequent to the date
the Chief Executive Officer and the Chief Financial Officer carried out this
evaluation.
 
  
  PART
II - OTHER INFORMATION
  Item
1. Legal Proceedings.
  We are
not engaged in any litigation, and we are unaware of any claims or complaints
that could result in future litigation.
 
 Item
1A. Risk Factors
 
 None
 
 Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
  None.
  Item
3. Defaults Upon Senior Securities.
  On
November 21, 2007 we borrowed $24,000 from a shareholder. The terms of the loan
call for simple interest of 10% with a maturity date of 30 days from the date of
the note. As of year end the note was in default. Upon default of the note
payable the balance will accrue interest at a rate of 16%. Total accrued
interest expense as of March 31, 2008 and December 31, 2007 was $1,257 and $263,
respectively. The term of the note was subsequently extended to April 30, 20008.
As of May 12, 2008 the note is in default.
  Item
4. Submission of Matters to a Vote of Security Holders.
  None.
  Item
5. Other Information.
  None
  Item
6. Exhibits and Reports of Form 8-K.
  (a)           Exhibits
  31.1
Certifications pursuant to Section 302 of Sarbanes Oxley Act of
2002
 32.1
Certifications pursuant to Section 906 of Sarbanes Oxley Act of
2002
 (b)           Reports
of Form 8-K
  None.
 
   SIGNATURES
  Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
  
  Signature
              Title
              Date/s/
      Robert Palumbo
              President,
      Chief Executive Officer,
              May
      14, 2008Robert
      Palumbo
              Chief
      Financial Officer, Director