----

----

**UNITED        STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,        D.C. 20549**

**FORM        10-QSB/A**

**__________________**

**Commission        File Number 000-50813**

|  **Sand                    Hill IT Security Acquisition                    Corp.**                              |
|---------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                      | --------------------------------  |   |
|  (Exact                    Name of Small Business Issuer as                    Specified in Its Charter)   |

| **Delaware**                                                                          |   | **20-0996152**                                                                    |
|--------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------|
| (State                    or other Jurisdiction of                    incorporation)  |   |  (I.R.S.                    Employer Identification                    No.)  |

**3000        Sand Hill Road**

**Building        1, Suite 240**

**Menlo        Park, California**

**(650)        926-7022**

** **

----

----

----

----

**PART        I. CONDENSED FINANCIAL INFORMATION**

**Item        1. Condensed Financial Statements**

|                                                                                                                                                                                              |   | September                  30, 2004(Unaudited) |       | April                  20, 2004 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------|------------|---------------------------------|--------|
|                                                                                                                                                                                              |   | (Restated)                                     |       |                            |   |
| ASSETS                                                                                                                                                                                            |   |                                           |       |                            |   |
| Current                  assets:                                                                                                                                                                  |   |                                           |       |                            |   |
| Cash                                                                                                                                                                                              |   | $                                              | 867,686    |                            | $      | 25,000 |   |
| Treasury                  bill held in trust                                                                                                                                                      |   |                                           | 21,007,464 |                            |   | — |   |
| Prepaid                  expenses                                                                                                                                                                 |   |                                           | 170,476    |                            |   | — |   |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Total                  current assets                                                                                                                                                             |   |                                           | 22,045,626 |                            |   | 25,000 |   |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Deferred                  offering costs                                                                                                                                                     |   |                                           | —    |                            |   | 9,203 |   |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Total                  Assets                                                                                                                                                                |   | $                                              | 22,045,626 |                            | $      | 34,203 |   |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| LIABILITIES                  AND STOCKHOLDERS EQUITY                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Current                  Liabilities:                                                                                                                                                             |   |                                           |       |                            |   |   |   |
| Accounts                  payable and accrued expenses                                                                                                                                            |   | $                                              | 13,772     |                            | $      | 13,953 |   |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Total                  Liabilities                                                                                                                                                           |   |                                           | 13,772     |                            |   | 13,953 |   |
| Common                  stock subject to possible conversion (821,589                  shares at conversion value)                                                                                |   |                                           | 4,199,392  |                            |   |   |   |
| Stockholders’                  Equity:                                                                                                                                                      |   |                                           |       |                            |   |   |   |
| Preferred                  stock, $0.01 par value Authorized                  5,000,000 shares; none issued                                                                                       |   |                                           | —    |                            |   | — |   |
| Common                  stock, $0.01 par valueAuthorized                  50,000,000 sharesIssued                  and outstanding, 5,110,000 and 1,000,000 shares,                  respectively |   |                                           | 51,110     |                            |   | 10,000 |   |
| Additional                  paid-in capital                                                                                                                                                  |   |                                           | 17,797,735 |                            |   | 15,000 |   |
| Deficit                  accumulated during the development stage                                                                                                                                 |   |                                           | (16,373    | )                               |   | (4,750 | ) |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Total                  Stockholders’ Equity                                                                                                                                            |   |                                           | 17,832,472 |                            |   | 20,250 |   |
|                                                                                                                                                                                              |   |                                           |       |                            |   |   |   |
| Total                  Liabilities and Stockholders’ Equity                                                                                                                            |   | $                                              | 22,045,626 |                            | $      | 34,203 |   |

----

|                                                    |   | Period                  fromApril                  15, 2004(inception)                  toSeptember                  30, 2004(Unaudited) |      | Three                  MonthsEndedSeptember                  30, 2004(Unaudited) |   | Period                  fromApril                  15, 2004(inception)toApril                  20, 2004 |   |
|---------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------|-----------|----------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|--------|
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |
| Formation                  and operating costs          |   | $                                                                                                                                        | 63,125    |                                                                             | $      | 50,432                                                                                                  |   | $ | 4,750 |   |
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |   |   |   |
| Operating                  loss                         |   | $                                                                                                                                        | (63,125   | )                                                                                |   | (50,432                                                                                                 | )      |   | (4,750 | ) |
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |   |   |   |
| Interest                  income                        |   |                                                                                                                                     | 46,752    |                                                                             |   | 46,752                                                                                                  |   |   | — |   |
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |   |   |   |
| Net                  loss                               |   | $                                                                                                                                        | (16,373   | )                                                                                | $      | (3,680                                                                                                  | )      | $ | (4,750)1 |   |
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |   |   |   |
| Weighted                  Average Shares Outstanding    |   |                                                                                                                                     | 2,542,454 |                                                                             |   | 3,762,857                                                                                               |   |   | 1,000,000 |   |
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |   |   |   |
| Net                  Loss Per Share (Basic and Diluted) |   | $                                                                                                                                        | (0.01     | )                                                                                | $      | (0.00                                                                                                   | )      | $ | (0.00 | ) |
|                                                    |   |                                                                                                                                     |      |                                                                             |   |                                                                                                    |   |   |   |   |

----

|                                                                                              |   | Period                  fromApril                  15, 2004(inception)                  toSeptember                  30, 2004(Unaudited) |        | Period                  fromApril                  15, 2004(inception)                  toApril                  20, 2004 |   |
|---------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------|-------------|---------------------------------------------------------------------------------------------------------------------------|--------|
| CASH                  FLOW FROM OPERATING ACTIVITIES                                              |   |                                                                                                                                     |        |                                                                                                                      |   |
| Net                  loss                                                                         |   | $                                                                                                                                        | (16,373     | )                                                                                                                         | $      | (4,750 | ) |
| Accretion                  of treasury bill                                                       |   |                                                                                                                                     | (46,464     | )                                                                                                                         |   | — |   |
| Increase                  in prepaid expenses                                                     |   |                                                                                                                                     | (170,476    | )                                                                                                                         |   | — |   |
| Increase                  in accounts payable and accrued expenses                                |   |                                                                                                                                     | 13,772      |                                                                                                                      |   | 13,953 |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| Net                  cash provided by (used in) operating activities                         |   |                                                                                                                                     | (219,541    | )                                                                                                                         |   | 9,203 |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| CASH                  FLOW FROM INVESTING ACTIVITIES                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| Purchase                  of treasury bill in trust account                                  |   |                                                                                                                                     | (20,961,000 | )                                                                                                                         |   | — |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| Net                  cash used in investing activities                                       |   |                                                                                                                                     | (20,961,000 | )                                                                                                                         |   | — |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| CASH                  FLOW FROM FINANCING ACTIVITIES                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| Proceeds                  from sale of common stock toinitial                  stockholders  |   |                                                                                                                                     | 25,000      |                                                                                                                      |   | 25,000 |   |
| Gross                  proceeds from public offering                                         |   |                                                                                                                                     | 24,660,000  |                                                                                                                      |   | — |   |
| Costs                  of public offering                                                    |   |                                                                                                                                     | (2,636,773  | )                                                                                                                         |   | (9,203 | ) |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| Proceeds                  from stockholder loan                                              |   |                                                                                                                                     | 40,000      |                                                                                                                      |   | — |   |
| Repayment                  of stockholder loan                                               |   |                                                                                                                                     | (40,000     | )                                                                                                                         |   | — |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| Net                  cash provided by financing activities                                   |   |                                                                                                                                     | 22,048,227  |                                                                                                                      |   | 15,797 |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| NET                  INCREASE IN CASH                                                        |   |                                                                                                                                     | 867,686     |                                                                                                                      |   | 25,000 |   |
| CASH                  AT BEGINNING OF PERIOD                                                 |   |                                                                                                                                     | —     |                                                                                                                      |   | — |   |
|                                                                                              |   |                                                                                                                                     |        |                                                                                                                      |   |   |   |
| CASH                  AT END OF PERIOD                                                       |   | $                                                                                                                                        | 867,686     |                                                                                                                      | $      | 25,000 |   |

----

----

----

----

**Item          3. Controls and Procedures**

----

|   |                                                                            |
|--------|---------------------------------------------------------------------------------|
|   | Dated:                  December 15, 2005                                  |
|   | SAND HILL IT SECURITY                  ACQUISITION                  CORP.  |
|   |                                                                            |

|   | /s/                  Humphrey P. PolanenHumphrey                    P. PolanenChief                    Executive Officer                    |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                  |
|   |                                                                                                                                                  |
|   | /s/                    Keith WalzKeith                        WalzChief                        Financial Officer and                        Secretary |