**U.S.
      SECURITIES AND EXCHANGE COMMISSION**


**WASHINGTON,
      D.C. 20549**





**FORM
      10-KSB**


(Mark
      One)


x
            **ANNUAL
                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
                1934**




**For
      Fiscal Year Ended: September 30, 2007**




**OR**




o
            **TRANSITION REPORT UNDER SECTION 13 OR
                15(d) OF
                THE SECURITIES EXCHANGE ACT OF
                1934**




For
        the
        transition period from __________________ to __________________
  Commission
        file number 333-73004


**HOSTING
      SITE NETWORK INC.**





(Exact
      name of small business issuer as specified in its charter)





Delaware
            
            13-4122844(State
                or other jurisdiction
            
            (IRS
                Employerof
                incorporation or organization)
            
            Identification
                No.)32
                Poplar Place, Fanwood, NJ
            
            07023(Address
                of principal executive offices)
            
            (Zip
                Code)




Issuer’s
      telephone number:  (973)
      652-6333


Securities
      registered under Section 12(b) of the Exchange Act: None


Name
      of
      each Exchange on Which Registered: None


Securities
      registered under Section 12(g) of the Exchange Act: None





Check
      whether the issuer is not required to file reports pursuant to Section 13 or
      15(d) of the Exchange Act. **x**




Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 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




Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B contained in this form, and no disclosure will be contained,
      to
      the best of issuer’s knowledge, in definitive proxy or information statements
      incorporated by reference in Part III of this Form 10-KSB or any amendment
      to
      this Form 10-KSB. **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
      issuer’s revenues for its most recent fiscal year. None




State
      the
      aggregate market value of the voting and non-voting common equity held by
      non-affiliates computed by reference to the price at which the common equity
      was
      sold, or the average bid and asked price of such common equity as of a specified
      date within the past 60 days.




As
      of
      December 10, 2007 there were 4,253,500 issued and outstanding shares of our
      common stock, $.001 par value, held by non-affiliates. The aggregate value
      of
      the securities held by non-affiliates on December 10, 2007 was $297,745 based
      on
      the closing bid price of our common stock on December 10, 2007, which was $0.07
      per share.




State
      the
      number of shares outstanding of each of the issuer’s classes of common equity,
      as of the latest practicable date. 7,273,500 shares as of December 10,
      2007.




Transitional
      Small Business Disclosure Format (check one):




Yes o****No **x**





**DOCUMENTS
      INCORPORATED BY REFERENCE**




Not
      Applicable









**TABLE
      OF CONTENTS**





Item
                Number and Caption
            PageForward
                Looking Statements
            3PART
                1Item
                1. Description of Business
            3Item
                2. Description of Property
            4Item
                3. Legal Proceedings
            4Item
                4. Submission of Matters to Vote of Security Holders
            4PART
                IIItem
                5. Market for Common Equity and Related Stockholders
            4Item
                6. Plan of Operation
            7Item
                7. Financial Statements
            8Item
                8. Changes in and Disagreements with Accountants onAccounting
                and Financial Disclosure
            21Item
                8A. Controls and Procedure
            21Item
                8B. Other Information
            21PART
                IIIItem
                9. Directors, Executive Officers, Promoters and Control
                Person;Compliance
                with Section 16(a) of the Exchange Act
            21Item
                10. Executive Compensation
            24Item
                11. Security Ownership of Certain Beneficial Ownersand
                Management
            26Item
                12. Certain Relationships and Related Transactions
            27Item
                13. Exhibits
            28Item
                14. Principal Accountant Fees and Services
            30




2


**FORWARD-LOOKING
      STATEMENTS**




*Except
      for historical information, this report contains forward-looking statements
      within the meaning of Section 21E of the Securities Exchange Act of 1934. Such
      forward-looking statements involve risks and uncertainties, including, among
      other things, statements regarding our business strategy, future revenues and
      anticipated costs and expenses. Such forward-looking statements include, among
      others, those statements including the words “expects,” “anticipates,”
“intends,” “believes” and similar language. Our actual results may differ
      significantly from those projected in the forward-looking statements. Factors
      that might cause or contribute to such differences include, but are not limited
      to, those discussed in the sections “Plan of Operation” and “Business”. You are
      cautioned not to place undue reliance on the forward-looking statements, which
      speak only as of the date of this report. We undertake no obligation to publicly
      release any revisions to the forward-looking statements or reflect events or
      circumstances taking place after the date of this document.*





**PART
      I**


**ITEM
        1.** **DESCRIPTION
        OF BUSINESS**




**Business
      Development**




We
      were
      incorporated on May 31, 2000 in the state of Delaware to provide businesses
      with
      a variety of Internet services including web hosting, web consulting and
      electronic mail services. Due to the changing business environment for companies
      providing these types of services we never commenced our intended operations.
      We
      have had no revenues and no material operations of any kind to date. Our
      inactive wholly owned subsidiary HSN (NJ), Inc. was incorporated on August
      20,
      2001 in the state of New Jersey.




On
      September 14, 2000, we concluded an asset purchase agreement with Nicklas Weich
      (our former president, CEO, CFO and Chairman of the Board), through which our
      then wholly owned subsidiary, CreativeSites.com, Inc. acquired all of the assets
      of CreativeSites.com for 4,000,000 shares of our common stock. CreativeSites.com
      was a sole proprietorship owned by Nick Weich, formed for the purpose of
      designing and hosting web sites. On April 30, 2001 we sold CreativeSites.com,
      Inc. to Nicklas Weich in exchange for his 4,000,000 shares of our common stock.
      At that time Nicklas Weich resigned as president, CEO, CFO and Chairman of
      the
      Board and Scott Ventura and John McVeigh resigned as directors. On the same
      date, Scott Vicari, Matthew Sebal and Ralph Brown were appointed directors,
      Mr.
      Vicari was appointed as president, chief executive and financial officer,
      treasurer, controller, and chairman of the board and Mr. Sebal was appointed
      as
      secretary.




Our
      management is presently searching for ventures of merit for corporate
      participation to enhance shareholder value. These ventures may involve sales
      of
      our debt or equity securities in merger or acquisition transactions.




3




**Patents,
        Trademarks and Licenses, Franchises,**
 **Concessions,
        Royalty Agreements or Labor Contracts**
  We
        presently utilize no patents, licenses, franchises, concessions, royalty
        agreements or labor contracts in connection with our business.


**Research
      and Development**




During
      the fiscal years ended September 30, 2007 and September 30, 2006 we made no
      expenditures on research and development.




**Employees**




As
      of
      December 10, 2007 our only employees are our two executive officers.




**ITEM
        2.** **DESCRIPTION
        OF PROPERTY**




We
      do not
      own any real property, plant or material equipment. Our president provides
      us
      with the use of approximately 250 square feet of office space in Fanwood, New
      Jersey on a rent free basis.




**ITEM
        3.** **LEGAL
        PROCEEDINGS**




No
      legal
      proceedings are presently pending or threatened.




**ITEM
        4.** **SUBMISSION
        OF MATTERS TO A VOTE OF SECURITY HOLDERS**




No
      matter
      was submitted during the fourth quarter of the fiscal year covered by this
      report to a vote of security holders.




**PART
      II**


**ITEM
        5.** **MARKET
        FOR COMMON EQUITY**
 **AND
        RELATED STOCKHOLDER MATTERS**




**Market
      Information.**




Our
      common stock has been quoted on the OTC Bulletin Board of the National
      Association of Securities Dealers, Inc. (the “NASD”) under the symbol “HSNI”
since June 20, 2002. The following table sets forth, for the fiscal
      quarters indicated, the high and low closing bid prices per share of our common
      stock, as derived from quotations provided by Pink Sheets, LLC. Such quotations
      reflect inter-dealer prices, without retail mark-up, mark-down or commission,
      and may not represent actual transactions.




4




**Quarter Ended**
            
            **High Bid**
            
            **Low Bid**December
                31, 2004
            
            $
            0.03
            
            $
            0.03March
                31, 2005
            
            $
            0.03
            
            $
            0.03June
                30, 2005
            
            $
            0.03
            
            $
            0.03September
                30, 2005
            
            $
            0.07
            
            $
            0.03December
                31, 2005
            
            $
            0.07
            
            $
            0.07March
                31, 2006
            
            $
            0.07
            
            $
            0.07June
                30, 2006
            
            $
            0.07
            
            $
            0.07September
                30, 2006
            
            $
            0.07
            
            $
            0.07December
                31, 2006
            
            $
            0.07
            
            $
            0.07March
                31, 2007
            
            $
            0.07
            
            $
            0.07June
                30, 2007
            
            $
            0.07
            
            $
            0.07September
                30, 2007
            
            $
            0.07
            
            $
            0.07





**Holders**




As
      of
      December 10, 2007, there were approximately 21 record holders of our common
      stock.




**Dividends**




We
      have
      never declared any cash dividends with respect to our common stock. Future
      payment of dividends is within the discretion of our board of directors and
      will
      depend on our earnings, capital requirements, financial condition and other
      relevant factors. Although there are no material restrictions limiting, or
      that
      are likely to limit, our ability to pay dividends on our common stock, we
      presently intend to retain future earnings, if any, for use in our business
      and
      have no present intention to pay cash dividends on our common
      stock.




**Recent
      Sales of Unregistered Securities**




We
      made
      no sales of unregistered securities during the fiscal year ended September
      30,
      2007.





5





**Securities
      Authorized For Issuance Under Equity Corporation Plans**




**Equity
      Compensation Plan Information**




**Number of**
              **Securities to be**
              **issued upon exercise**
              **of outstanding**
              **options, warrants**
              **and rights (a)**
            
            **Weighted-average**
              **exercise price of**
              **outstanding**
              **options, warrants**
              **and rights (b)**
            
            **Number of securities**
              **remaining available for**
              **future****issuance under equity**
              **compensation plans**
              **(excluding securities reflected**
              **in column (a)) (c)**Equity
                compensation plans approved
              by
                security holders
            
            
            N/A
            
            
            N/A
            
            
            N/AEquity
                compensation plans not approved
              by
                security holders
            
            
            0
            
            
            N/A
            
            
            1,000,000Total
            
            
            0
            
            
            N/A
            
            
            1,000,000





In
      December 2002 we terminated the Hosting Site Network, Inc. 2001 Stock Option
      Plan (the “2001 Plan”) and adopted the Hosting Site Network, Inc. 2002
      Non-Statutory Stock Option Plan (the “Plan”). No options were ever issued under
      the 2001 Plan. The Plan is intended to advance our interests by inducing
      individuals, and eligible entities of outstanding ability and potential to
      join,
      remain with, or provide consulting or advisory services to us, by encouraging
      and enabling eligible employees, non-employee directors, consultants and
      advisors to acquire proprietary interests in us, and by providing the
      participating employees, non-employee directors, consultants and advisors with
      an additional incentive to promote our success. This is accomplished by
      providing for the granting of non-statutory stock options (the “Options”) to
      employees, non-employee directors, consultants and advisors. The Plan is
      presently administered by our board of directors but may be subsequently
      administered by a board committee designated by our board of
      directors.





The
      stock
      subject to Options granted under the Plan is shares of our common stock, par
      value $.001 per share, whether authorized but unissued or held in our treasury.
      The maximum number of shares of common stock which may be issued pursuant to
      Options granted under the Plan shall not exceed in the aggregate one million
      (1,000,000) shares, subject to adjustment in accordance with the provisions
      of
      Section 11 of the Plan. In the event that our outstanding common stock is
      subsequently changed by reason of combination of shares, reverse split, stock
      dividend or the like, an appropriate adjustment will be made by the Plan
      administrator in the aggregate number of shares available under the Plan, and
      in
      the number of shares and option price per share subject to outstanding Options.
      If we are reorganized, consolidated, or merged with another corporation, the
      holder of an Option shall be entitled to receive upon the exercise of his Option
      the same number and kind of shares of stock or the same amount of property,
      cash
      or securities as he would have been entitled to receive upon the happening
      of
      any such corporate event as if he has been, immediately prior to such event,
      the
      holder of the number of shares covered by his Option.




6




The
      class
      of individual or entity that is eligible to receive Options under the Plan
      is
      all employees (including officers) and non-employee directors of, or consultants
      and advisors to either us or any subsidiary corporation of ours; provided,
      however, that Options shall not be granted to any consultants and advisors
      unless (i) bona fide services have been or are to be rendered by the consultant
      or advisor and (ii) the services are not in connection with the offer or sale
      of
      securities in a capital raising transaction. The Plan administrator, in its
      sole
      discretion, but subject to the provisions of the Plan, determines the employees
      and non-employee directors of, and the consultants and advisors to, us and
      our
      subsidiary corporations to whom Options may be granted, and the number of shares
      to be covered by each Option, taking into account the nature of the employment
      or services rendered by the individuals or entities being considered, their
      annual compensation, their present and potential contributions to our success
      and such other factors as the Plan administrator may deem relevant.





No
      Option
      granted under the Plan is transferable by the individual or entity to whom
      it
      was granted otherwise than by will or laws of decent and distribution, and,
      during the lifetime of such individual, is not exercisable by any other person,
      but only by him.





**ITEM
      6.  PLAN OF OPERATION**




We
      were
      incorporated on May 31, 2000 to provide businesses with a variety of Internet
      services including web hosting, web consulting and electronic mail services.
      Given the current Internet business environment, we have not commenced material
      business operations, have not had any operating revenues, and have concluded
      that our business model is not presently valid. Although we may determine to
      engage in our intended Internet operations at a later date, we have decided
      to
      look at other ventures of merit for corporate participation as a means of
      enhancing shareholder value. This may involve sales of our equity or debt
      securities in merger or acquisition transactions.




We
      have
      minimal operating costs and expenses at the present time due to our limited
      business activities. Accordingly, absent changed circumstances, we will not
      be
      required to raise additional capital over the next twelve months, although
      we
      may do so in connection with or in anticipation of possible acquisition
      transactions. We do not currently engage in any product research and development
      and have no plans to do so in the foreseeable future. We have no present plans
      to purchase or sell any plant or significant equipment. We also have no present
      plans to add employees although we may do so in the future if we engage in
      any
      merger or acquisition transactions.




7




**ITEM
      7. **FINANCIAL
      STATEMENTS****




Index
      to
      Consolidated Financial Statements




PageReports
                of Independent Registered Public Accounting Firms
            9-10Balance
                Sheet - September 30, 2007
            11Statement
                of Operations - Years ended September 30, 2007 and 2006
            12Statement
                of Shareholders’ Equity - Years ended September 30, 2007 and 2006
            13Statement
                of Cash Flows - Years ended September 30, 2007 and 2006
            14Notes
                to Financial Statements
            15-20




8





REPORT
      OF
      INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To
      the
      Board of Directors and Shareholder


Hosting
      Site Network, Inc.





We
      have
      audited the accompanying balance sheet of Hosting Site Network **,** Inc. **** as
      of
      September 30, 2007 and the related statements of operations, shareholders’
equity and cash flows for the year then ended. These financial statements are
      the responsibility of the Company’s management. Our responsibility is to express
      an opinion on these financial statements based on our audit.





We
      conducted our audit in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that we
      plan
      and perform the audit to obtain reasonable assurance about whether the financial
      statements are free of material misstatement. The Company is not required to
      have, nor were we engaged to perform, an audit of its internal control over
      financial reporting. Our audit included consideration of internal control over
      financial reporting as a basis for designing audit procedures that are
      appropriate in the circumstances, but not for the purpose of expressing an
      opinion on the effectiveness of the Company's internal control over financial
      reporting. Accordingly, we express no such opinion. An audit includes examining,
      on a test basis, evidence supporting the amounts and disclosures in the
      financial statements. An audit also includes assessing the accounting principles
      used and significant estimates made by management, as well as evaluating the
      overall financial statement presentation. We believe that our audit provides
      a
      reasonable basis for our opinion.





In
      our
      opinion, the financial statements referred to above present fairly, in all
      material respects, the financial position of Hosting Site Network, Inc. as
      of
      September 30, 2007 and the results of its operations and its cash flows for
      the
      year then ended in conformity with accounting principles generally accepted
      in
      the United States of America.






/s/Raich
      Ende Malter & Co. LLP


Raich
      Ende Malter & Co. LLP





New
      York,
      New York


December
      14, 2007




9




Report
      of
      Independent Registered Accounting Firm





To
      the
      Board of Directors and


Shareholder of Hosting Site Network, Inc.





We
      have
      audited the accompanying balance sheet of Hosting Site Network, Inc. as of
      September 30, 2006 and the related statements of operations, shareholders'
      deficit and cash flows for the year then ended. These financial statements
      are
      the responsibility of the Company's management. Our responsibility is to express
      an opinion on these financial statements based on our audit.





We
      conducted our audit in accordance with the standards of the Public Company
      Accounting Oversight Board (United States). Those standards require that we
      plan
      and perform the audit to obtain reasonable assurance about whether the financial
      statements are free of material misstatement. The Company is not required to
      have, nor were we engaged to perform, an audit of its internal control over
      financial reporting. Our audit included consideration of internal control over
      financial reporting as a basis for designing audit procedures that are
      appropriate in the circumstances, but not for the purpose of expressing an
      opinion on the effectiveness of the Company's internal control over financial
      reporting. Accordingly, we express no such opinion. An audit includes examining,
      on a test basis, evidence supporting the amounts and disclosures in the
      financial statements. An audit also includes assessing the accounting principles
      used and significant estimates made by management, as well as evaluating the
      overall financial statement presentation. We believe that our audit provides
      a
      reasonable basis for our opinion.





In
      our
      opinion, the financial statements referred to above present fairly, in all
      material respects, the financial position of Hosting Site Network, Inc. as
      of
      September 30, 2006 and the results of its operations and its cash flows for
      the
      year then ended, in conformity with accounting principles generally accepted
      in
      the United States of America.






/s/Most
      & Company, LLP


Most
      & Company, LLP





New
      York,
      New York


November
      30, 2006




10


HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


CONSOLIDATED
      BALANCE SHEET


SEPTEMBER
      30, 2007 AND 2006





2007
            
            2006AssetsCurrent
                AssetsCash
            
            $
            202,495
            
            $
            259,520Other
                receivable
            
            
            600
            
            
            350Total
                Current Assets
            
            $
            203,095
            
            $
            259,870Liabilities
                and Shareholders' EquityCurrent
                LiabilitiesAccounts
                payable and accrued expenses
            
            $
            17,160
            
            $
            14,176Shareholders'
                EquityPreferred
                  stock, $.0001 par value, 5,000,000 shares authorized; none
                  outstandingCommon
                stock, $.001 par value; 100,000,000 shares authorized; 7,273,500
                shares issued and outstanding
            
            
            7,273
            
            
            7,273Additional
                paid-in capital
            
            
            758,259
            
            
            758,259Deferred
                compensation
            
            
            -
            
            
            (8,934
            )Accumulated
                deficit
            
            
            (579,597
            )
            
            (510,904
            )Total
                Shareholders' Equity
            
            
            185,935
            
            
            245,694Total
                Liabilities and Shareholders' Equity
            
            $
            203,095
            
            $
            259,870




See
        notes
        to consolidated financial statements


11




HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


CONSOLIDATED
      STATEMENT OF OPERATIONS





YEARS ENDED SEPTEMBER 30,2007
            
            2006Revenues
            
            $
            0
            
            $
            0General
                and administrative expenses
            
            
            (63,189
            )
            
            (55,656
            )Write-off
                and amortization of deferred compensation
            
            
            (8,934
            )
            
            (7,147
            )Interest
                income, net
            
            
            3,430
            
            
            4,205Net
                loss
            
            $
            (68,693
            )
            $
            (58,608
            )Basic
                and diluted net loss per share
            
            $
            (0.01
            )
            $
            (0.01
            )Basic
                and diluted weighted average shares outstanding
            
            
            7,273,500
            
            
            7,273,500




See
      notes to consolidated financial
      statements




12




HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


CONSOLIDATED
      STATEMENT OF SHAREHOLDERS' EQUITY





Common
                Stock
            
            Additional
                Paid-in Capital
            
            Deferred
                Compensation
            
            Accumulated
                Deficit
            
            Total
                Shareholders' EquityShares
            
            AmountBalance,
                September 30, 2005
            
            
            7,273,500
            
            $
            7,273
            
            $
            758,259
            
            $
            (16,081
            )
            $
            (452,296
            )
            $
            297,155Amortization
                of deferred compensation
            
            
            -
            
            
            -
            
            
            -
            
            
            7,147
            
            
            -
            
            
            7,147Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (58,608
            )
            
            (58,608
            )Balance,
                September 30, 2006
            
            
            7,273,500
            
            
            7,273
            
            
            758,259
            
            
            (8,934
            )
            
            510,904
            
            
            245,694Write-off
                deferred compensation
            
            
            -
            
            
            -
            
            
            -
            
            
            8,934
            
            
            -
            
            
            8,934Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (68,693
            )
            
            (68,693
            )Balance,
                September 30, 2007
            
            
            7,273,500
            
            $
            7,273
            
            $
            758,259
            
            $
            -
            
            $
            442,211
            
            $
            185,935




See
      notes to consolidated financial
      statements




13




HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


CONSOLIDATED
      STATEMENT OF CASH FLOWS





YEARS ENDED SEPTEMBER 30,2007
            
            2006Cash
                flow from operating activitiesNet
                loss
            
            $
            (68,693
            )
            $
            (58,608
            )Adjustments
                to reconcile net loss to net cash used in operating
                activitiesWrite-off
                and amortization of deferred compensation
            
            
            8,934
            
            
            7,147Changes
                in assets and liabilitiesOther
                current assets
            
            
            (250
            )
            
            (100
            )Accounts
                payable and accrued expenses
            
            
            2,984
            
            
            1,975Net
                cash used in operating activities
            
            
            (57,025
            )
            
            (49,586
            )Decrease
                in cash
            
            
            (57,025
            )
            
            (49,586
            )Cash,
                beginning of year
            
            
            259,520
            
            
            309,106Cash,
                end of year
            
            $
            202,495
            
            $
            259,520




See
      notes to consolidated financial
      statements




14




HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS




1. OPERATIONS




Hosting
      Site Network, Inc. (Company) was incorporated in Delaware on May 31, 2000 and
      HSN, Inc. (HSN), its wholly owned subsidiary, was incorporated in New Jersey
      on
      August 21, 2001. The Company is inactive and is currently searching for business
      opportunities.





2. SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES





Basis
      of
      Presentation





The
      consolidated financial statements include the accounts of the Company and HSN.
      All material intercompany balances and transactions have been
      eliminated.




Income
      Taxes





Deferred
      income taxes have been provided for any temporary differences between the
      consolidated financial statement and income tax reporting under the liability
      method, using expected tax rates and laws that are expected to be in effect
      when
      the differences are expected to reverse. When the realization of deferred tax
      assets are not considered more likely than not an allowance is
      provided.





Stock
      Based Compensation





Compensation
      costs for common stock issued to employees were based on the fair value method
      and deferred as shareholders’ equity until amortized to operations. Through
      September 30, 2006, deferred compensation costs were amortized over the
      remaining term of the employment agreement, as amended, over the forfeiture
      period. On October 1, 2006, the Company wrote-off the remaining balance of
      deferred compensation of $8,934.





Net
      Loss
      Per Share





Basic
      net
      loss per share was computed by dividing the net loss for the year by the
      weighted average number of shares outstanding during the year. Diluted net
      loss
      per share was computed by dividing the net loss for the year by the weighted
      average number and any potentially dilutive shares outstanding during the year.
      There were no potentially dilutive securities outstanding.




Financial
      Instruments





The
      carrying amounts of financial instruments, including cash and accounts payable
      and accrued liabilities, approximate s
      fair
      values because of their relatively short maturity.




15




HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS





Use
      of
      Estimates





The
      preparation of financial statements in conformity with accounting principles
      generally accepted in the United States requires management 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 reporting period. Actual results
      may differ from these estimates.





New
      Accounting Pronouncements





In
      June
      2006, the FASB issued Interpretation No. 48, "Accounting for Uncertainty in
      Income Taxes", an interpretation of FASB Statement No. 109, "Accounting for
      Income Taxes". FIN No. 48 clarifies the accounting for uncertainty in income
      taxes recognized in a company's financial statements in accordance with SFAS
      No.
      109, "Accounting for Income Taxes". This Interpretation prescribes a recognition
      threshold and measurement attribute for the financial statement recognition
      and
      measurement of a tax position taken or expected to be taken in a tax return.
      This Interpretation also provides guidance on de-recognition, classification,
      interest and penalties, accounting for interim periods, disclosure, and
      transition. This Interpretation is effective for fiscal years beginning after
      December 15, 2006. The Company will adopt FIN No. 48 on October 1, 2007 without
      a material effect on the financial statements.





In
      September 2006, the FASB issued SFAS No. 157; "Fair Value Measurements", that
      defines fair value, establishes a framework for measuring fair value in
      generally accepted accounting principles ("GAAP"), and expands disclosures
      about
      fair value measurements. This Statement applies under other accounting
      pronouncements that require or permit fair value measurements. Prior to this
      Statement, there were different definitions of fair vale and limited guidance
      for applying those definitions in GAAP. Moreover, that guidance was dispersed
      among many accounting pronouncements that require fair value measurements.
      Differences in that guidance created inconsistencies that added to the
      complexity in applying GAAP. The changes to current practice resulting from
      the
      application of this statement relate to the definition of fair value, the
      methods used to measure fair value, and the expanded disclosures about fair
      value measurements. Statement 157 is effective for financial statements issued
      for fiscal years beginning after November 15, 2007, and interim periods within
      those fiscal years. The Company has not determined the effect, if any, that
      may
      result from the adoption of SFAS 157 on its financial statements.





16


HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS





In
      February 2007, the FASB issued SFAS
      No.
      159 "The Fair Value Option for Financial Assets and Financial Liabilities".
      SFAS
      No. 159 permits entities to choose, at specified election dates, to measure
      eligible items at fair value (the "fair value option"). A business entity shall
      report unrealized gains and losses on items for which the fair value option
      has
      been elected in earnings at each subsequent reporting date. The objective is
      to
      improve financial reporting by providing entities with the opportunity to
      mitigate volatility in reported earnings caused by measuring related assets
      and
      liabilities differently without having to apply complex hedge accounting
      provisions. SFAS No. 159 is effective as of the beginning of an entity's first
      fiscal year that begins after November 15, 2007. Early adoption is permitted
      as
      of the beginning of a fiscal year that begins on or before November 15, 2007,
      provided the entity also elects to apply the provisions of SFAS No. 157, "Fair
      Value Measurements".The
      Company has not determined the effect, if any, that may result from the adoption
      of SFAS No. 159 on its financial statements





In
      December 2007, the FASB issued SFAS No. 160, "Noncontrolling Interests in
      Consolidated Financial Statements - an amendment of ARB No. 51". The objective
      of this Statement is to improve the relevance, comparability, and transparency
      of the financial information that a reporting entity provides in its
      consolidated financial statements by establishing accounting and reporting
      standards that require the following changes. The ownership interests in
      subsidiaries held by parties other than the parent be clearly identified,
      labeled, and presented in the consolidated statement of financial position
      within equity, but separate from the parent’s equity. The amount of consolidated
      net income attributable to the parent and to the noncontrolling interest must
      be
      clearly identified and presented on the face of the consolidated statement
      of
      income. When a subsidiary is deconsolidated, any retained noncontrolling equity
      investment in the former subsidiary is initially measured at fair value. The
      gain or loss on the deconsolidation of the subsidiary is measured using the
      fair
      value of any noncontrolling equity investment rather than the carrying amount
      of
      that retained investment and entities provide sufficient disclosures that
      clearly identify and distinguish between the interests of the parent and the
      interests of the noncontrolling owners. The changes to current practice
      resulting from the application of SFAS No. 160 is effective for financial
      statements issued for fiscal years beginning after December 15, 2008, and
      interim periods within those fiscal years. The adoption of SFAS No. 160 before
      December 15, 2008 is prohibited. The Company has not determined the effect,
      if
      any, that may result from the adoption of SFAS No. 160 on its financial
      statements.





17


HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS





In
      December 2007, the FASB issued SFAS No. 141(R), "Business Combinations -
      Revised" that improves the relevance, representational faithfulness, and
      comparability of the information that a reporting entity provides in its
      financial reports about a business combination and its effects. To accomplish
      that, this statement establishes principles and requirements how the acquirer
      recognizes and measures in its financial statements the identifiable assets
      acquired, the liabilities assumed, and any noncontrolling interest in the
      acquiree, recognizes and measures the goodwill acquired in the business
      combination or a gain from a bargain purchase, and determines what information
      to disclose to enable users of the financial statements to evaluate the nature
      and financial effects of the business combination. The changes to current
      practice resulting from the application of SFAS No. 141(R) are effective for
      financial statements issued for fiscal years beginning after December 15, 2008.
      The adoption of SFAS No. 141(R) before December 15, 2008 is prohibited. The
      Company has not determined the effect, if any, that may result from the adoption
      of SFAS No. 141(R) on its financial statements.





Management
      does not believe that any other recently issued, but not yet effective
      accounting pronouncements, if adopted, would have a material effect on the
      accompanying financial statements.





3. INCOME
      TAXES





The
      Company files consolidated tax returns. As of September 30, 2007, the Company
      has net operating loss carryforwards of approximately $600,000 to reduce future
      Federal and state taxable income through 2027.





As
      of
      September 30, 2007, realization of the Company’s deferred tax assets of $230,000
      was not considered more likely than not and, accordingly, a valuation allowance
      of $230,000 has been provided.





As
      of
      September 30, 2007, components of deferred tax assets were as
      follows:





Net
                operating loss
            
            $
            230,000Valuation
                allowance
            
            
            (230,000
            )None




18




HOSTING
      SITE NETWORK, INC. AND SUBSIDIARY


NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS




For
      the
      years ended September 30, 2007 and 2006, deferred income tax expense consisted
      of the following:





2007
            
            2006Net
                operating loss
            
            $
            23,000
            
            $
            20,000Deferred
                compensation
            
            
            3,000
            
            
            3,00026,000
            
            
            23,000Valuation
                allowance
            
            
            (26,000
            )
            
            (23,000
            )None
            
            
            None







For
      the
      years ended September 30, 2007 and 2006, the following is a reconciliation
      of
      the expected income tax benefit utilizing the statutory Federal tax rate to
      the
      income tax benefit reported on the statement of operations:





2007
            
            2006Expected
                Federal income tax benefit
            
            $
            (23,000
            )
            $
            (19,000
            )State
                taxes
            
            
            (3,000
            )
            
            (4,000
            )Change
                in valuation allowance
            
            
            26,000
            
            
            23,000None
            
            
            None




4. EQUITY
      TRANSACTIONS





As
      of
      September 30, 2007, the Company is committed under an employment agreement
      (Agreement), as amended, to the Company’s president for employment through
      December 31, 2010. Under the Agreement, the Company had previously issued
      3,000,000 shares of the Company’s common stock to the Company’s president in
      exchange for compensation. However, if his employment with the Company is
      terminated prior to December 31, 2008, he forfeits the entire 3,000,000 shares
      of Company’s stock, prior to December 31, 2009, he forfeits 2,000,000 shares and
      prior to December 31, 2010, he forfeits the remaining 1,000,000 shares of the
      Company’s common stock.





The
      compensation had been amortized over the employment term, as amended, through
      the balance of the forfeiture period.





In
December2007, the Agreement was amended to extend both the employment and
      forfeiture periods by twelve months.





During
      the year September 30,2007, all outstanding warrants expired.




19




HOSTING
        SITE NETWORK, INC. AND SUBSIDIARY
 NOTES
        TO
        CONSOLIDATED FINANCIAL STATEMENTS




5. STOCK
      OPTION
      PLAN





In
      December 2002, the Company terminated its 2001 Stock Option Plan and adopted
      the
      2002 Non-Statutory Stock Option Plan (Plan). The Company has granted no options
      under the 2001 Stock Option Plan.





The
      Plan
      provides for the granting of non-statutory stock options, through 2012, to
      purchase up to 1,000,000 shares of common stock, subject to adjustment for
      stock
      splits, stock dividends, recapitalizations or similar capital changes. Options
      may be granted to employees (including officers) and directors of the Company
      and certain of the Company’s consultants and advisors.





The
                Plan is administered by the Company’s Board of Directors, which determines
                the grantee, number of shares and exercise price and period. The
                Board of
                Directors also interprets the provisions of the Plan and, subject
                to
                certain limitations, may amend the Plan.





As
      of
      September  30,
      2007,
      no options have been granted under Plan.





6. CONCENTRATIONS
      OF CREDIT RISK





The
      Company maintains cash in financial institutions in excess of insured limits.
      In
      assessing its risk, the Company’s policy is to maintain cash only with reputable
      financial institutions.




20




**ITEM
        8.** **CHANGES
        IN AND DISAGREEMENTS WITH ACCOUNTANTS ON**
 **ACCOUNTING
        AND FINANCIAL DISCLOSURE**




Not
      applicable.




**ITEM
      8A. CONTROLS AND PROCEDURES**





Our
      principal executive and financial officer evaluated the effectiveness of our
      disclosure controls and procedures as of the end of the period covered by this
      report. Based on this evaluation, our principal executive and financial officer
      concluded that our disclosure controls and procedures are effective for
      gathering, analyzing and disclosing the information we are required to disclose
      in the reports we file under the Securities Exchange Act of 1934, within the
      time periods specified in the Commission rules and forms. Such evaluation did
      not identify any change in the year ended September 30, 2007 that has materially
      affected or is reasonably likely to materially affect our internal control
      over
      financial reporting.




**ITEM
      8B. OTHER INFORMATION**





Not
      applicable.




**PART
      III**




**ITEM
        9.** **DIRECTORS,
        EXECUTIVE OFFICERS,**
 **PROMOTERS
        AND CONTROL PERSONS; COMPLIANCE**
 **WITH
        SECTION 16(A) OF THE EXCHANGE ACT**




**Executive
      Officers and Directors**




The
      following table sets forth certain information, as of December 10, 2007, with
      respect to our directors and executive officers.




Directors
      serve until the next annual meeting of the stockholders; until their successors
      are elected or appointed and qualified, or until their prior resignation or
      removal. Officers serve for such terms as determined by our board of directors.
      Each officer holds office until such officer’s successor is elected or appointed
      and qualified or until such officer’s earlier resignation or removal. No family
      relationships exist between any of our present directors and
      officers.




21




Name
            
            Positions
                Held
            
            Age
            
            Date
                of Election
              or Appointment
              as DirectorScott
                     Vicari
            
            Chairman
                of the Board, President, Treasurer, CEO, CFO, Controller
            
            35
            
            April
                30, 2001Matthew
                Sebal
            
            Secretary,
                Director
            
            37
            
            April
                30, 2001Ralph
                Brown
            
            Director
            
            74
            
            April
                30, 2001





The
      following is a brief account of the business experience of each of our directors
      and executive officers during the past five years or more.




Scott
      Vicari has served as our President, Treasurer, CEO, CFO, Controller and Chairman
      of the Board since April 30, 2001. Mr. Vicari is responsible, among other
      things, for our accounting and financial reporting. Mr. Vicari has worked in
      the
      computer network hardware/software industry since 1991. Mr. Vicari is a co-owner
      of Accounteks, LLC, which provides computer consulting to help clients maintain
      and operate their accounting and billing computer systems. From 1991 to 1996
      he
      was the manager of Information Systems for Clinton Industries Incorporated,
      an
      industrial sewing machine manufacturer. From 1997 to 2001 he was a network
      consultant with e-partners, Inc., an accounting software consultant. During
      that
      period he was trained and certified on numerous industry standard
      software/hardware including Microsoft, Novel, Cisco, Citrix and Sage. He
      currently holds Microsoft MCSE, Cisco CCNA and Best Software certifications.
      He
      has worked as an IT administrator and IT consultant implementing a variety
      of
      network software/hardware and Internet projects for numerous clients. Mr. Vicari
      graduated from Bergen Community College in New Jersey with an A.S. degree in
      Business Management in 1994. ****




Matthew
      Sebal has served as our Secretary and Director since April 30, 2001. From
      January 2002 to the present Mr. Sebal has served as President and as a Director
      of 51 st State
      Systems, Inc. a privately held company. 51 st State
      Systems develops web sites and web-based applications for small-to-medium
      organizations in industry, government, and education. From May 2002 to present
      Mr. Sebal has served as President and as a Director of DCM Enterprises, Inc.,
      a
      publicly reporting management and investment holding company. From July 2002
      to
      present Mr. Sebal has served as Chairman of the Board of Directors of NES
      Worldwide, Inc., a Delaware corporation, engaged in the filing of EDGAR® reports
      on behalf of public companies with the United States Securities and Exchange
      Commission. From September 2002 to present, Mr. Sebal has served as a Director
      of BHC, Inc., a Delaware corporation engaged as a provider of branded online
      marketing and distribution of travel products and services for leisure and
      small
      business travelers. From the period between June 2000 to January 2003, Mr.
      Sebal
      held one or more of the following the positions: Secretary, President, Chairman
      and CEO, and Director, of Return Assured Incorporated. Return Assured
      Incorporated had been a publicly reporting company involved in enabling e-retail
      transactions. As of January, 2003 Return Assured Incorporated is no longer
      a
      publicly reporting company. Return Assured Incorporated has had no operations
      since 2001. From November 2000 to October 2003 Mr. Sebal served as a Director
      of
      Mindfuleye, Inc., a publicly reporting company that developed software for
      licensing to the investment community. The software delivered proprietary
      content directly to users by web, desktop, wireless, and e-mail interfaces.
      As
      of October, 2003 Mindfuleye, Inc. is no longer a publicly reporting company.
      Mindfuleye, Inc has had no operations since 2001. From December 1998 to June
      2000, Mr. Sebal was a Principal in IBM's e-business Services Group for Canada.
      From 1997 to 1998, Mr. Sebal was Director of Business Development for
      Communicate.com (formerly IMEDIAT Digital). From 1995 to 1997, Mr. Sebal was
      a
      Senior Account Manager for Emerge Online, Inc. a web site design and development
      firm. Mr. Sebal holds a baccalaureate degree in Political Science from the
      University of Western Ontario, Canada.


22





Ralph
      Brown has served as one of our directors since April 30, 2001. He has practiced
      law in Toronto, Canada since 1959. He is also Secretary and a director of the
      Canadian Film Centre, the Chairman of Feature Film Project, and a director
      of
      the Norman Jewison Charitable Foundation. From October 1991 to July 1999, he
      was
      a partner in the law firm of Miller Thomson. Since August of 1999 to the present
      time, Mr. Brown has been a sole proprietor in Canada. Mr. Brown’s practice
      concentrates on corporate, commercial and entertainment law. He acts for a
      diverse range of clients in private and public companies, varying in size from
      small owner-operated businesses to large, diversified corporations. Mr. Brown
      received his LL.B. from Osgood Hall Law School, York University in 1959, his
      B.A. from University of Toronto in 1955. He was called to the Ontario Bar in
      1959 and was appointed Queen’s Counsel in 1975. He is a member of the Canadian
      Bar Association.




**Board
      of Directors**




Except
      for Ralph Brown, who receives $333 per month for serving as a director, none
      of
      our directors receive any remuneration for acting as such. Directors may however
      be reimbursed their expenses, if any, for attendance at meetings of the Board
      of
      Directors. Our Board of Directors may designate from among its members an
      executive committee and one or more other committees. No such committees have
      been appointed to date. Accordingly, we do not have an audit committee financial
      expert. We are presently not required to have an audit committee financial
      expert and do not believe we otherwise need one at this time due to our lack
      of
      material business operations.




**Compliance
      with Section 16(a) of the Exchange Act**




Our
      common stock is not registered pursuant to Section 12 of the Securities Exchange
      Act of 1934, as amended (the “Exchange Act”). Accordingly, our officers,
      directors and principal shareholders are not subject to the beneficial ownership
      reporting requirements of Section 16(a) of the Exchange Act.




**Code
      of Ethics**




On
      December 1, 2004 we adopted a Code of Ethics that applies to our principal
      executive officer, principal financial officer, principal accounting officer
      or
      controller, or persons performing similar functions. A copy of our Code of
      Ethics will be provided to any person requesting same without charge. To request
      a copy of our Code of Ethics please make written request to our President c/o
      Hosting Site Network Inc. at 32 Poplar Place, Fanwood, New Jersey
      07023.


23




**ITEM
        10.** **EXECUTIVE
        COMPENSATION**




The
      following table sets forth information concerning the total compensation paid
      or
      accrued by us during the three fiscal years ended September 30, 2007 to
      (i) all individuals that served as our chief executive officer or acted in
      a similar capacity for us at any time during the fiscal year ended
      September 30, 2007 and (ii) all individuals that served as executive
      officers of ours at any time during the fiscal year ended September 30, 2007
      that received annual compensation during the fiscal year ended September 30,
      2007 in excess of $100,000.




**Summary
      Compensation Table**




Name
                and
              Principal Position
            Year
            Salary
              ($)
            Bonus
              ($)
            Stock
                Awards
              ($)
            Option
                Awards
              ($)
            Non-Equity
                Incentive
              Plan
              Compen-sation
                ($)
            Change
              in
              Pension
              Value
              and Non-qualified
                Deferred Compen-sation Earnings
              ($)
            All
                Other Compensation
              ($)
            Total
                ($)(a)
            (b)
            (c)
            (d)
            (e)
            (f)
            (g)
            (h)
            (i)
            (j)Scott
                Vicari, Chief Executive Officer, President
            2007
            0
            0
            0
            0
            0
            0
            0
            02006
              2005
            0
              0
            0
              0
            0
              0
            0
              0
            0
              0
            0
              0
            0
              0
            0
              0







(1)
            On
                or about April 30, 2001 we issued 3,000,000 restricted shares of
                our
                common stock to Mr. Vicari pursuant to Mr. Vicari’s three year
                employment agreement with us dated April 30, 2001. These shares are
                subject to forfeiture based upon the term of his employment with
                us. Due
                to the inactivity of the Company, in December 2004, December 2005,
                November 2006 and December 2007, we revised Mr. Vicari’s employment
                agreement to extend the vesting periods on the 3,000,000 shares issued
                in
                the employment agreement. As the result of the December 2007 amendment,
                if
                Mr. Vicari is not employed by us at December 31, 2008 he forfeits
                all of
                the shares. If Mr. Vicari is employed by us at December 31, 2008 but
                not employed by us at December 31, 2009 he forfeits 2,000,000 of
                the
                shares. If Mr. Vicari is employed by us at December 31, 2009 but
                not
                employed by us at December 31, 2010 he forfeits 1,000,000 of the
                shares.


24




We
      have
      not issued any stock options since our inception. We have never maintained
      any
      plans that provide for the payment of retirement benefits or benefits that
      will
      be paid primarily following retirement including, but not limited to, tax
      qualified deferred benefit plans, supplemental executive retirement plans,
      tax-qualified deferred contribution plans and nonqualified deferred contribution
      plans. Similarly, we have no contracts, agreements, plans or arrangements,
      whether written or unwritten, that provide for payments to the named executive
      officer or any other persons following, or in connection with the resignation,
      retirement or other termination of a named executive officer, or a change in
      control of us or a change in a named executive officer’s responsibilities
      following a change in control.





**Option/SAR
      Grants In Last Fiscal Year**




No
      stock
      options or stock appreciation rights were granted to the named executive during
      the fiscal year ended September 30, 2007.




**Stock
      Option Plans**




The
      named
      executive did not participate in any Company stock option plans during the
      fiscal year ended September 30, 2007.




**Aggregate
      Option/SAR Exercises and Fiscal Year End Option/SAR Values**




During
      the fiscal year ended September 30, 2007 there were no exercises of stock
      options by the named executive. As at September 30, 2007 the named executive
      owned no stock options. The named executive has never received stock
      appreciation rights.




**Long
      Term Incentive Plan Awards**




We
      made
      no long-term incentive plan awards to the named executive officer during the
      fiscal year ended September 30, 2007.




**Employment
      Contracts, Termination of Employment, and Change-in-Control
      Arrangements**




During
      the fiscal year ended September 30, 2007 we had no employment agreements,
      compensation plans or arrangements with respect to the named executive officer
      which would in any way result in payments being made to such executive officer
      because of his resignation, retirement or other termination of employment with
      us or our subsidiaries, or because of any change in control or a change in
      such
      executive officer’s responsibilities following a change in control.




**Compensation
      of Directors**




Ralph
      Brown is paid $333 per month for serving as a director. None of our other
      directors receive any compensation for serving as such, for serving on
      committees of the board of directors or for special assignments. During the
      fiscal year ended September 30, 2007 there were no other arrangements between
      us
      and our directors that resulted in our making payments to any of our directors
      for any services provided to us by them as directors.




25




**Report
      on Repricing of Options/SARs**




During
      the fiscal year ended September 30, 2007 we did not adjust or amend the exercise
      price of stock options or SARs previously awarded to the named
      executive




**ITEM
        11.** **SECURITY
        OWNERSHIP OF CERTAIN**
 **BENEFICIAL
        OWNERS AND MANAGEMENT**




The
      following table sets forth information with respect to the beneficial ownership
      of our common stock known by us as of December 10, 2007 by (i) each person
      or entity known by us to be the beneficial owner of more than 5% of our common
      stock, (ii) each of our directors, (iii) each of our executive
      officers, and (iv) all of our directors and executive officers as a group.
      The percentages in the table have been calculated on the basis of treating
      as
      outstanding for a particular person, all shares of our common stock outstanding
      on such date and all shares of our common stock issuable to such holder in
      the
      event of exercise of outstanding options, warrants, rights or conversion
      privileges owned by such person at said date which are exercisable within
      60 days of such date. Except as otherwise indicated, the persons listed
      below have sole voting and investment power with respect to all shares of our
      common stock owned by them, except to the extent such power may be shared with
      a
      spouse.




26




Name
                and Address
              of
                Beneficial Owner
            
            Shares
                of Common StockBeneficially Owned
            
            PercentageOwnership(1)Scott
                Vicari
              262
                Gettysburg Way
              Lincoln
                Park, NJ 07035
            
            
            3,000,000
            (2)
            
            41.2
            %Matthew
                Sebal
              170
                West 6thAvenue
              Vancouver,
                British Columbia V5Y 1K6
              Canada
            
            
            10,000
            
            
            
            (3)Ralph
                Brown
              112
                St. Claire Avenue West, Suite 400
              Toronto,
                Ontario M4V 2Y3
              Canada
            
            
            10,000
            
            
            
            (3)All
                directors and executive officers
              as
                a group (3 persons)
            
            
            3,020,000
            
            
            41.5
            %







(1)
            Based
                upon 7,273,500 shares issued and outstanding as at December 10,
                2007.




(2)
            Pursuant
                to the terms of Mr. Vicari’s employment agreement, as amended, if he is no
                longer employed with us prior to December 31, 2008 he forfeits all
                3,000,000 shares. If he is employed by us at December 31, 2008 but
                no
                longer employed with us at December 31, 2009 he forfeits 2,000,000
                of
                these shares. If he is employed by us at December 31, 2009 but no
                longer
                employed with us at December 31, 2010 he forfeits 1,000,000 of these
                shares.




(3)
            Less
                than 1%




**Changes
      in Control**




Not
      Applicable.




**ITEM
        12.** **CERTAIN
        RELATIONSHIPS**
 **AND
        RELATED TRANSACTIONS**




In
      April,
      2001 we issued 3,000,000 shares of our common stock to our president Scott
      Vicari in consideration of his engagement as our president. These shares are
      subject to forfeiture based upon the term of his employment. Pursuant to the
      terms of our employment contract with Mr. Vicari, as amended, if he is no
      longer employed with us prior to December 31, 2008 he forfeits all 3,000,000
      of
      these shares. If he is employed by us at December 31, 2008 but no longer
      employed with us prior to December 31, 2009 he forfeits 2,000,000 of these
      shares. If he is employed by us at December 31, 2009 but no longer employed
      with
      us prior to December 31, 2010 he forfeits 1,000,000 of these shares. These
      shares were valued at $.05 per share.




27




Ralph
      Brown is paid $333 per month for serving as a director.




**ITEM
      13.** **EXHIBITS**




**Exhibits**




The
      following Exhibits are being filed with this Annual Report on Form
      10-KSB:




Exhibit
              No.
            
            SEC
                Report
              Reference
                Number
            
            Description3.1
            
            3.1
            
            Certificate
                of Incorporation of Registrant filed May 31, 2000. (1)3.2
            
            3.2
            
            Certificate
                of Amendment to Certificate of Incorporation of Registrant filed
                March 6,
                2002. (4)3.3
            
            3.2
            
            By-Laws
                of Registrant. (1)3.4
            
            3.3
            
            Amended
                By-Laws of Registrant. (3)10.1
            
            10.1
            
            Registrant’s
                2001 Stock Option Plan adopted April 30, 2001. (1)10.2
            
            10.2
            
            Executive
                Employment Agreement dated April 30, 2001 between Registrant and
                Scott
                Vicari. (2)10.3
            
            10.3
            
            Registrant’s
                2002 Non-Statutory Stock Option Plan(5)10.4
            
            10.4
            
            Amendment
                dated December 2, 2002 to Executive Employment Agreement dated April
                30,
                2001 between Registrant and Scott Vicari(5)10.5
            
            10.5
            
            Loan
                Agreement dated as of July 12, 2002 by and among Registrant, 2 Chansis,
                Inc., Ray Grimm and Alfred Hanser(5)10.6
            
            10.6
            
            Amendment
                dated December 13, 2004 to Executive Employment Agreement dated April
                30,
                2001 between Registrant and Scott
                Vicari(6)




28




Exhibit
              No.
            
            SEC
                Report
              Reference
                Number
            
            Description10.7
            
            10.7
            
            Amendment
                dated December 7, 2005 to Executive Employment Agreement dated April
                30,
                2001 between Registrant and Scott Vicari(7)10.8
            
            10.8
            
            Amendment
                dated November 7, 2006 to Executive Employment Agreement dated April
                30,
                2001 between Registrant and Scott Vicari(8)10.9
            
            *
            
            Amendment
                dated December 7, 2007 to Executive Employment Agreement dated April
                30,
                2001 between Registrant and Scott Vicari14
            
            14
            
            Code
                of Ethics(6)21
            
            *
            
            List
                of Subsidiaries of Registrant31.1/31.2
            
            *
            
            Rule
                13(a) – 14(a)/15(d) – 14(a) Certification of Principal Executive and
                Financial Officer32.1/32.2
            
            *
            
            Rule
                1350 Certification of Chief Executive and Financial
                Officer




(1)
            Filed
                with the Securities and Exchange Commission on August 11, 2001 as
                an
                exhibit, numbered as indicated above, to the Registrant’s registration
                statement (SEC File No. 333-73004) on Form SB-2, which exhibit is
                incorporated herein by reference.




(2)
            Filed
                with the Securities and Exchange Commission on January 11, 2002,
                as an
                exhibit, numbered as indicated above, to the Registrant’s registration
                statement (SEC File No. 333-73004) on Form SB-2 (Amendment No. 2),
                which
                exhibit is incorporated herein by
                reference.




(3)
            Filed
                with the Securities and Exchange Commission on February 8, 2002 as
                an
                exhibit, numbered as indicated above, to the Registrant’s registration
                statement (SEC File No. 333-73004) on Form SB-2 (Post-Effective Amendment
                No. 1), which exhibit is incorporated herein by
                reference.




(4)
            Filed
                with the Securities and Exchange Commission on April 11, 2002, as
                an
                exhibit, numbered as indicated above, to the Registrant’s registration
                statement (SEC File No. 333-73004) on Form SB-2 (Post Effective Amendment
                No. 3), which exhibit is incorporated herein by
                reference.




29




(5)
            Filed
                with the Securities and Exchange Commission on January 14, 2003 as
                an
                exhibit, numbered as indicated above, to the Registrant’s Annual Report on
                Form 10KSB for the fiscal year ended September 30,
                2002.




(6)
            Filed
                with the Securities and Exchange Commission on December 21, 2004
                as an
                exhibit, numbered as indicated above, to the Registrant’s Annual Report on
                Form 10KSB for the fiscal year ended September 30,
                2004.




(7)
            Filed
                with the Securities and Exchange Commission on December 19, 2005
                as an
                exhibit, numbered as indicated above, to the Registrant’s Annual Report on
                Form 10KSB for the fiscal year ended September 30,
                2005.




(8)
            Filed
                with the Securities and Exchange Commission on December 7, 2006 as
                an
                exhibit, numbered as indicated above, to the Registrant’s Annual Report on
                Form 10KSB for the fiscal year ended September 30,
                2006.




*
      Filed
      herewith.




**ITEM
      14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**




Audit
      Fees .




The
      aggregate fees billed to us by our principal accountants for services rendered
      during the fiscal years ended September 30, 2007 and 2006 are set forth in
      the
      table below:





Fee
                Category
            
            Fiscal
                year ended
              September
                30, 2007
            
            Fiscal
                year ended
              September
                30, 2006Audit
                fees (1)
            
            $
            24,000
            
            $
            23,000Audit-related
                fees (2)
            
            
            1,470
            
            
            0Tax
                fees (3)
            
            
            
            
            
            0All
                other fees (4)
            
            
            
            
            
            0Total
                fees
            
            $
            25,470
            
            $
            23,000





(1)
            Audit
                fees consists of fees incurred for professional services rendered
                for the
                audit of consolidated financial statements, for reviews of our interim
                consolidated financial statements included in our quarterly reports
                on
                Form 10-QSB and for services that are normally provided in connection
                with
                statutory or regulatory filings or
                engagements.





(2)
            Audit-related
                fees consists of fees billed for professional services that are reasonably
                related to the performance of the audit or review of our consolidated
                financial statements, but are not reported under “Audit fees.”





(3)
            Tax
                fees consists of fees billed for professional services relating to
                tax
                compliance, tax planning, and tax
                advice.


30




(4)
            All
                other fees consists of fees billed for all other
                services.





Audit
      Committee’s Pre-Approval Practice .





Insomuch
      as we do not have an audit committee, our board of directors performs the
      functions of an audit committee. Section 10A(i) of the Securities Exchange
      Act
      of 1934 prohibits our auditors from performing audit services for us as well
      as
      any services not considered to be “audit services” unless such services are
      pre-approved by the board of directors (in lieu of the audit committee) or
      unless the services meet certain de minimis standards.


31


**SIGNATURES**




Pursuant
      to the requirements of Section 13 or 15(d) of the Securities Exchange Act
      of 1934, as amended, the registrant has duly caused this report to be signed
      on
      its behalf by the undersigned, thereunto duly authorized.




Date:
                December 20, 2007
            HOSTING
                SITE NETWORK INC.By:
            /s/
                Scott VicariScott
                Vicari,President
                and Chief Executive Officer




In
      accordance with the Exchange Act, this report has been signed below by the
      following persons on behalf of the registrant and in the capacities and on
      the
      dates indicated.




SIGNATURE
            
            TITLE
            
            DATE/s/
                Scott Vicari
            
            President,
                Treasurer Chief Executive
            
            December
                20, 2007Scott
              Vicari
            
            Officer,
              Chief
              Financial and Accounting OfficerMajority
                of
              Board
                of Directors/s/
                Scott Vicari
            
            Director
            
            December
                20, 2007Scott
              Vicari/s/
                Matthew Sebal
            
            Director
            
            December
                20, 2007Matthew
              Sebal




32