**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**WASHINGTON,
      D.C. 20549**





**FORM
      10-QSB**




**xQUARTERLY
        REPORT UNDER
        SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**
 
 For
        the
        quarterly period ended June 30, 2007
 
 **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 000-105778





**JUMA
                TECHNOLOGY, CORP.**(Exact
                Name of Small Business Issuer as Specified in its
                Charter)





Delaware
            
            68-0605151(State
                or Other Jurisdiction of incorporation
              or
                Organization)
            
            (I.R.S.
                Employer Identification No.)





**154
                TOLEDO STREET, FARMINGDALE, NY 11735**
              (Address
                of Principal Executive Offices) (Zip Code)**(631)
                300-1000**(Issuer’s
                Telephone Number, Including Area
                Code)




Check
      whether the issuer (1) has filed all reports required to be filed by Section
      13
      or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months
      (or for such shorter period that the issuer was required to file such reports),
      and (2) has been subject to such filing requirements for the past 90 days.
      Yes xNo o





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act). Yes oNo x





State
      the
      number of shares outstanding of each of the issuer’s classes of common equity,
      as of the latest practicable date. 42,455,000 Common
      Shares as of July 31, 2007





Transitional
      Small Business Disclosure Format (check one): Yes: oNo: x







**TABLE
      OF CONTENTS**




Page**PART
                I – FINANCIAL INFORMATION****Item
                1.**
            **Unaudited
                Condensed Consolidated Financial Statements**Condensed
                Consolidated Balance Sheet as of June 30, 2007 and December 31,
                2006
            3Condensed
                Consolidated Statement of Operations for the three and six months
                ended
                June 30, 2007 and 2006
            4Condensed
                Consolidated Statement of Cash Flows for the six months ended June
                30,
                2007 and 2006
            5Notes
                to Condensed Consolidated Financial Statements
            6-11**Item
                2.**
            **Management’s
                Discussion and Analysis of Financial Condition and Results of
                Operations**Results
                of Operations for the three and six months ended June 30, 2007 and
                2006
            12-14Liquidity
                and Capital Resources
            15-16**Item
                3.**
            **Controls
                and Procedures**Evaluation
                of Disclosure Controls and Procedures
            17**PART
                II – OTHER INFORMATION****Item
                2.**
            **Unregistered
                Sales of Equity Securities and Use of Proceeds**Signatures
            19Certifications
            20-23




-
          2
          -




**PART
      I - FINANCIAL INFORMATION**





**Item
      1. Financial Statements**





**Juma
      Technology Corp. and Subsidiaries**


**Condensed
      Consolidated Balance Sheet**





**June
                30,**
              **2007**
            
            **December 31,**
              **2006**(Unaudited)
            
            (Audited)ASSETSCurrent
                assets:Cash
            
            $
            143,446
            
            $
            191,470Accounts
                receivable
            
            
            3,474,581
            
            
            3,990,836Inventory
            
            
            816,090
            
            
            262,974Note
                receivable
            
            
            –
            
            
            251,041Prepaid
                expenses
            
            
            153,674
            
            
            60,531Prepaid
                purchases
            
            
            –
            
            
            369,964Other
                current assets
            
            
            35,029
            
            
            50,092Total
                current assets
            
            
            4,622,820
            
            
            5,176,908Fixed
                assets, (net of accumulated depreciation of $381,719 and $282,388,
                respectively)
            
            
            932,991
            
            
            899,365Other
                assets:Security
                deposits
            
            
            57,221
            
            
            9,482Total
                assets
            
            $
            5,613,032
            
            $
            6,085,755LIABILITIES
                AND STOCKHOLDERS’ DEFICIENCYCurrent
                liabilities:Credit
                line
            
            $
            350,000
            
            $
            350,000Notes
                payable
            
            
            1,106,392
            
            
            155,926Current
                portion of long-term debt
            
            
            93,319
            
            
            62,909Accounts
                payable
            
            
            4,226,807
            
            
            2,825,597Accrued
                expenses and taxes payable
            
            
            377,929
            
            
            282,460Deferred
                revenue
            
            
            197,728
            
            
            376,304Deferred
                tax liability
            
            
            –
            
            
            76,696Total
                current liabilities
            
            
            6,352,175
            
            
            4,129,892Long-term
                debt, net of current maturities
            
            
            177,974
            
            
            143,134Convertible
                promissory notes
            
            
            1,725,000
            
            
            –Deferred
                tax liability
            
            
            –
            
            
            230,087Total
                liabilities
            
            
            8,255,149
            
            
            4,503,113Commitments
                and contingenciesStockholders’
                deficiencyCommon
                stock, $0.0001 par value, 900,000,000 shares authorized, 42,455,000
                and
                41,535,000 shares issued and outstanding, respectively
            
            
            4,246
            
            
            4,154Additional
                paid in capital
            
            
            3,658,177
            
            
            3,505,961Subscription
                receivable
            
            
            –
            
            
            (18,427
            )Retained
                deficit
            
            
            (6,304,540
            )
            
            (1,909,046
            )Total
                stockholders’ deficiency
            
            
            (2,642,117
            )
            
            1,582,642Total
                liabilities and stockholders’ deficiency
            
            $
            5,613,032
            
            $
            6,085,755




The
      accompanying notes are an integral part of these Condensed Consolidated
      Financial Statements .




-
          3
          -


**Juma
      Technology Corp. and Subsidiaries**


**Condensed
      Consolidated Statement of Operations**


**For
      the three and six months ended June 30,**





**Three months
                ended**
            
            **Three months
                ended**
            
            **Six months**
              **ended**
            
            **Six
                months**
              **ended****June
                30,**
            
            **June
                30,**
            
            **June
                30,**
            
            **June
                30,****2007**
            
            **2006**
            
            **2007**
            
            **2006**Sales
            
            $
            3,528,959
            
            $
            2,394,201
            
            $
            6,240,064
            
            $
            4,589,155Cost
                of goods sold
            
            
            2,901,506
            
            
            1,424,336
            
            
            5,324,050
            
            
            2,737,554Gross
                margin
            
            
            627,453
            
            
            969,865
            
            
            916,014
            
            
            1,851,601Operating
                expenses:Selling
            
            
            629,552
            
            
            333,516
            
            
            1,309,276
            
            
            563,289Research
                and development
            
            
            177,091
            
            
            –
            
            
            177,091
            
            
            –Goodwill
                impairment
            
            
            –
            
            
            –
            
            
            1,870,259
            
            
            –General
                and administrative
            
            
            1,276,974
            
            
            436,668
            
            
            2,193,062
            
            
            881,893Total
                operating expenses
            
            
            2,083,617
            
            
            770,184
            
            
            5,549,688
            
            
            1,445,182(Loss)/income
                from operations
            
            
            (1,456,164
            )
            
            199,681
            
            
            (4,633,674
            )
            
            406,419Interest
                income/(expense), net
            
            
            (43,081
            )
            
            (12,652
            )
            
            (68,603
            )
            
            (33,597
            )(Loss)/income
                before income taxes
            
            
            (1,499,245
            )
            
            187,029
            
            
            (4,702,277
            )
            
            372,822(Benefit)/Provision
                for income taxes
            
            
            –
            
            
            2,040
            
            
            (306,783
            )
            
            3,787Net
                (loss)/income
            
            $
            (1,499,245
            )
            $
            184,989
            
            $
            (4,395,494
            )
            $
            369,035Basic
                and diluted net (loss)/income per share
            
            $
            (0.04
            )
            $
            0.01
            
            $
            (0.11
            )
            $
            0.01Weighted
                average common shares outstanding
            
            
            42,144,560
            
            
            26,900,000
            
            
            41,843,167
            
            
            26,900,000





The
      accompanying notes are an integral part of these Condensed Consolidated
      Financial Statements.




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          4
          -




**Juma
      Technology Corp and Subsidiaries**


**Condensed
      Consolidated Statements of Cash Flows**


**For
      the six months ended June 30,**





**2007**
            
            **2006**Operating
                ActivitiesNet
                (loss)/income
            
            $
            (4,395,494
            )
            $
            369,035Adjustments
                to reconcile net (loss)/income to net cash (used) provided by operating
                activities:Depreciation
            
            
            95,393
            
            
            73,120Deferred
                taxes
            
            
            (306,783
            )
            
            4,770Cost
                of stock options
            
            
            30,722
            
            
            –Changes
                in operating assets and liabilities:Accounts
                receivable
            
            
            516,255
            
            
            (207,883
            )Inventory
            
            
            (553,116
            )
            
            –Other
                current assets
            
            
            15,063
            
            
            9,815Prepaid
                expenses
            
            
            291,821
            
            
            59,939Security
                deposit
            
            
            (47,739
            )
            
            (452
            )Accounts
                payable and accrued expenses
            
            
            1,174,143
            
            
            (346,899
            )Deferred
                revenue
            
            
            (178,576
            )
            
            134,843Net
                cash flows (used) provided by operating activities
            
            
            (3,358,311
            )
            
            96,288Investing
                ActivitiesAcquisition
                of fixed assets
            
            
            (45,477
            )
            
            (133,805
            )Note
                receivable
            
            
            251,041
            
            
            –Acquisition
                of AGN, net of cash
            
            
            1,724,103
            
            
            –Net
                cash flows provided (used) by investing activities
            
            
            1,929,667
            
            
            (133,805
            )Financing
                ActivitiesProceeds
                from loan
            
            
            215,000
            
            
            702,840Proceeds
                from long-term debt
            
            
            52,660
            
            
            –Issuance
                of common stock
            
            
            (282,888
            )
            
            –Proceeds
                from convertible promissory note
            
            
            1,725,000
            
            
            –Repayment
                of loan
            
            
            (293,576
            )
            
            (260,000
            )Payment
                of loan to affiliate
            
            
            –
            
            
            (107,810
            )Subscription
                receivable
            
            
            18,427
            
            
            –Distributions
                to members
            
            
            –
            
            
            (138,988
            )Repayment
                of long-term debt
            
            
            (54,003
            )
            
            (23,096
            )Net
                cash flows provided (used) by financing activities
            
            
            1,380,620
            
            
            172,946Net
                change in cash
            
            
            (48,024
            )
            
            135,429Cash,
                beginning of the period
            
            
            191,470
            
            
            16,312Cash,
                end of the period
            
            $
            143,446
            
            $
            151,741Supplemental
                Cash Flow Information:Interest
                paid
            
            $
            56,726
            
            $
            33,597Income
                taxes paid
            
            $
            455
            
            $
            –Noncash
                investing and financing activitiesAcquisition
                of fixed assets through capital lease
            
            $
            66,593
            
            $
            –





The
      accompanying notes are an integral part of these Condensed Consolidated
      Financial Statements.




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          5
          -




**Juma
        Technology Corp. and Subsidiaries**
 **Notes
        to Condensed Consolidated Financial Statements**
 **June
        30, 2007**




NOTE
      1 –
      ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





Juma
      Technology Corp. (the “Company”) is a highly specialized convergence systems
      integrator with a complete suite of services for the implementation and
      management of an entities data, voice and video requirements. Juma
      is
      focused on providing converged communications solutions for voice, data and
      video network implementations for various vertical markets with an emphasis
      in
      driving long term professional services engagements, maintenance, monitoring
      and
      management contracts. Juma utilizes several different technologies in order
      to
      provide its expertise and solutions to clients across a broad spectrum of
      business-critical requirements, regardless of the objectives. Juma integrates
      high-speed network routers and high-capacity data switches from the industry’s
      leading manufacturers and deploys best-of-breed communications solutions with
      a
      full range of managed services for its clients. Juma is a complete solution
      source, enhancing the abilities of an organization’s technical staff and
      increasing the reliability and functionality of clients’ Information Technology
      (“IT”) environments. The Company also operates through a wholly owned
      subsidiary, AGN Networks, Inc. (“AGN”) which was acquired on March 6, 2007
      through the Company’s wholly owned subsidiary Juma Acquisition Corp. (“Juma
      Acquisition”).





While
      the
      Company operates through different subsidiaries, management believes that all
      such subsidiaries constitute a single operating segment since the subsidiaries
      have similar economic characteristics.





The
      interim condensed consolidated financial statements include the accounts of
      the
      Company and its wholly-owned subsidiaries AGN and Juma Acquisition. All material
      intercompany balances and transactions have been eliminated in the consolidated
      financial statements.





The
      accompanying interim condensed consolidated financial statements have been
      prepared, without audit, in accordance with the instructions to Form 10-QSB
      for
      interim financial reporting pursuant to the rules and regulations of the
      Securities and Exchange Commission. While these statements reflect all normal
      recurring adjustments which are, in the opinion of management, necessary for
      a
      fair presentation of the results of the interim period, they do not include
      all
      of the information and footnotes required by U.S. generally accepted accounting
      principles for complete financial statements. Therefore, the interim condensed
      consolidated financial statements should be read in conjunction with the
      consolidated financial statements and notes included in the Company’s annual
      report filed on Form 10-KSB for the fiscal year ended December 31,
      2006.





The
      results and trends on these interim condensed consolidated financial statements
      for the three and six months ended June 30, 2007 and 2006 may not be
      representative of those for the full fiscal year or any future
      periods


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          6
          -




**Juma
        Technology Corp. and Subsidiaries**
 **Notes
        to Condensed Consolidated Financial Statements**
 **June
        30, 2007**


NOTE
      1 –
      ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
      (continued)





Revenue
      Recognition





The
      Company derives revenue primarily from the sale and service of communication
      systems and applications. The Company recognizes revenue when persuasive
      evidence of an arrangement exists, delivery has occurred, the fee is fixed
      and
      determinable, collectibility is reasonably assured, contractual obligations
      have
      been satisfied, and title and risk of loss have been transferred to the
      customer. Revenues from the sales of products that include installation services
      are recognized on the percentage of completion basis pursuant to the provisions
      of Statement of Position No. 81-1, "Accounting for Performance of
      Construction-type and Certain Production-type Contracts" and Accounting Research
      Bulletin ("ARB") No. 45, "Long-term Construction-type Contracts".





For
      each
      contract, the Company compares the costs incurred in the course of performing
      such contract during a reporting period to the total estimated costs of full
      performance of the contract and recognizes a proportionate amount of revenue
      for
      such period. Revenue from the sales of products that include installation
      services is recognized at the time the products are installed, after
      satisfaction of all the terms and conditions of the underlying customer
      contract. The Company also derives revenue from maintenance services, including
      services provided under contracts and on a time and materials basis. Maintenance
      contracts typically have terms that range from one to five years. Revenue from
      services performed under maintenance contracts is deferred and recognized
      ratably over the term of the underlying customer contract or at the end of
      the
      contract, when obligations have been satisfied. For services performed on a
      time
      and materials basis, revenue is recognized upon performance of the services.
      The
      Company also earns commissions on maintenance contracts. Revenues are recognized
      on the commissions over the term of the related maintenance
      contract.





Inventory





Inventory,
      which consists of finished goods, is valued at the lower of cost or market.
      The
      first-in, first-out method is used to value the inventory.





Earnings
      Per Share





Basic
      earnings per share are calculated by dividing net income (loss) by the weighted
      average of common shares outstanding during the year. Diluted earnings per
      share
      is calculated by using the weighted average of common shares outstanding
      adjusted to include the potentially dilutive effect of outstanding stock options
      utilizing the treasury stock method. There were 4,885,500 potentially dilutive
      shares for the three and six months ended June 30, 2007. The effect of the
      potentially dilutive shares for the three and six months ended June 30, 2007
      have been ignored, as their effect would be antdilutive.




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          7
          -




**Juma
        Technology Corp. and Subsidiaries**
 **Notes
        to Condensed Consolidated Financial Statements**
 **June
        30, 2007**
  NOTE
        2 –
        ACCOUNTS RECEIVABLE





Accounts
      receivable consists of the following:





2007Billed
            
            $
            2,314,901Unbilled
                (costs in excess of billings)
            
            
            1,159,680$
            3,474,581





Management
      expects that the unbilled receivables account will be collected; therefore,
      no
      allowance for doubtful accounts has been recorded on this balance.





NOTE
      3 – NOTE
      RECEIVABLE





On
      December 15, 2006, the Company loaned $250,000 to AGN Networks, Inc. a Florida
      corporation (“AGN”), pursuant to the terms of a Promissory Note (the “Note”).
      The Note is unsecured and bears interest at the rate of 8% per annum payable
      to
      the Company on or about December 15, 2007.On March 6, 2007, the Company entered
      into and closed on an agreement and plan of merger with AGN and as a result
      AGN
      has become a wholly-owned subsidiary of the Company. The Company forgave
      $125,000 of the note receivable.





NOTE
      4 – ACQUISITION OF AGN NETWORKS, INC.





On
      March
      6, 2007, the Company completed the acquisition of AGN Networks, Inc. ("AGN")
      through the merger of AGN into a newly formed wholly-owned subsidiary of the
      Company, Juma Acquisition pursuant to an Agreement and Plan of Merger, dated
      March 6, 2007 (the "Agreement"). In accordance with the terms and provisions
      of
      the Agreement, in exchange for all for of the capital stock of AGN, the Company
      paid a total of $200,000 to Mr. Ernie Darias and Mr. Albert Rodriquez (the
      "AGN
      shareholders"). This amount was paid by issuing 90 day promissory notes to
      each
      of Mr. Darias and Mr. Rodriquez. In addition, the Agreement provides that Juma
      will forgive $125,000 of the loan previously made to AGN. Also,
      the Company issued an aggregate of 320,000 shares of common stock to the
      shareholders of AGN in connection with the Agreement. The Company committed
      that
      the 320,000 shares will have a value of at least $640,000 one year from the
      date
      of the Agreement or the Company will issue the AGN shareholders a two-year
      promissory note reflecting the difference between the value of the 320,000
      shares and $640,000. The Company also paid off certain obligations of AGN to
      Avatel Technologies, Inc., an entity owned by certain shareholders of AGN,
      in
      the aggregate amount of $675,000 by paying $200,000 in cash and by issuing
      a
      promissory note for the balance. The Company has entered into an employment
      agreement with Mr. Rodriquez. The Employment Agreement with Mr. Rodriquez is
      for
      a term of two years and a base salary of $125,000 per annum.





Associated
      with the acquisition of AGN the Company recorded goodwill of $1,870,259, which
      was deemed impaired in March 2007.


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          8
          -


**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**June
      30, 2007**




NOTE
      4 – ACQUISITION OF AGN NETWORKS, INC. (continued)





As
      of
      June 30, 2007, no payments have been made to AGN shareholders under the
      promissory note and the AGN shareholders have not sought such
      payments.





The
      following pro forma income statement data presents the consolidated results
      of
      operations of the Company had the acquisition of AGN occurred at the beginning
      of the earliest period presented:





Three
                months
              ended
                June 30,
            
            Three
                months
              ended
                June 30,
            
            Six
                months
              ended
                June 30,
            
            Six
                months
              ended
                June 30,2007
            
            2006
            
            2007
            
            2006Net
                revenue
            
            $
            3,528,959
            
            $
            2,394,856
            
            $
            6,248,450
            
            $
            4,589,810Net
                (loss)/income
            
            
            (1,499,245
            )
            
            (245,394
            )
            
            (4,541,048
            )
            
            (183,113
            )Basic
                and diluted earnings per share
            
            $
            (0.04
            )
            $
            0.01
            
            $
            (0.11
            )
            $
            0.01





The
      above
      pro forma information does not purport to be indicative of what would have
      occurred had the acquisition been made as of such date or the results which
      may
      occur in the future.





NOTE
      5 – CREDIT LINE





During
      March 2005, the Company obtained a $350,000 credit line that bears interest
      at
      0.5% above the prime interest rate. The credit line requires an annual 30 day
      clean up provision and can be converted into a three year term note at the
      bank’s discretion. At June 30, 2007 the entire amount of the credit line was
      outstanding and the weighted average interest rate was 8.75%. The credit line
      is
      guaranteed by certain officers of the Company. The Company is currently not
      in
      compliance with the 30 day clean up clause of the credit line. The lender has
      not sought to exert any of its rights pertaining to the Company’s noncompliance.
      The Company and the lender are currently negotiating to change several of the
      terms of the line.





The
      Company has two letters of credit outstanding with the same lender for a total
      of $41,394.Both letters of credit expire during 2007.





NOTE
      6 – NOTES PAYABLE





During
      May 2006, the Company issued two promissory notes for $75,000 each. Interest
      on
      these notes accrue at 2% and the notes mature on or before August 22, 2006
      or
      upon receipt or gross proceeds of at least $250,000 from the sale of any debt
      or
      equity securities. During July 2006, the Company received gross proceeds of
      over
      $250,000 in debt and triggered the default interest rate of 8% and the holder
      of
      the promissory notes has extended the maturity date to December 31, 2006.The
      Company is in negotiations with the lender to either extend the maturity of
      the
      note or convert the note into common stock.


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          9
          -


**Juma
        Technology Corp. and Subsidiaries**
 **Notes
        to Condensed Consolidated Financial Statements**
 **June
        30, 2007**


NOTE
      6 – NOTES PAYABLE (continued)





Due
      to
      the acquisition of AGN, the Company has assumed a non interest bearing note
      of
      $529,515 with a former affiliate of AGN. There is no definitive term for the
      repayment of this note and the Company is in negotiations with the affiliate
      to
      determine specific terms. The Company also has a note outstanding of $200,000
      due to the former shareholders of AGN. See Note 4.





On
      June
      20, 2007, the Company signed a twenty four month lease for software licenses
      and
      services with a monthly payment of $6,054.63, which is equal to the cost to
      amortize $119,253 over a 2 year period at an interest rate of 19.7% per
      annum.





NOTE
      7 – CONVERTIBLE PROMISSORY NOTES





On
      February 7, 2007, the Company began offering up to $2,000,000 of Convertible
      Promissory Notes (“Notes”).The Notes are non-interest bearing, mature in 18
      months and are convertible, at the holders option, into common stock of the
      Company at $1.00 per share. Each investor will also receive one-half share
      of
      common stock for each dollar of the principal amount of the Notes purchased.
      As
      of June 30, 2007, the Company has sold $1,725,000 in Notes.





NOTE
      8 – LEASE COMMITMENTS





On
      March
      15, 2007, AGN signed a lease for 3,200 square feet of office space in Deerfield
      Beach, Florida. The
      lease calls for a base rent of $22.00 per square foot and expires on March
      31,
      2010.





On
      March
      16, 2007, Juma signed a lease for 3,164 square feet of office space and 2,982
      square feet of warehouse space in Burlington City, New Jersey. The lease calls
      for a base rent of $9.00 per square foot of office space and $5.00 for warehouse
      space plus any construction costs. The lease will have a five year term. Among
      other provisions, the lease contains provisions for additional rent for the
      Company’s proportionate share of real estate and related
      assessments.





NOTE
      9 – STOCK OPTIONS





On
      January 28, 2007 the Company adopted the 2006 Stock Option Plan of Juma
      Technology Corp., (the “Plan”).The Plan provides for up to 6,228,750 shares of
      incentive and non-qualified options that may be granted to employees, directors
      and certain key affiliates. Under the Plan, incentive options may be granted
      at
      not less than the fair market value on the date of grant and non-statutory
      options may be granted at or below fair market value. The Company wishes to
      utilize the Plan to attract, maintain and develop management by encouraging
      ownership of the Company's Common Stock by key employees, directors, and others.
      Options under the Plan will be either “incentive options” under Section 422A of
      the Internal Revenue Code of 1986, as amended, or “non-qualified stock options”
which are not intended to so qualify.




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          10
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**June
      30, 2007**




NOTE
      9
– STOCK
      OPTIONS (continued)





Through
      June 30, 2007, the Company has issued 2,255,000 stock options to officers,
      employees and consultants at exercise prices ranging from $0.50 to $1.00 per
      share. These options carry a ten year term and vest ratably over 5 years. The
      options vested during the first 12 months shall not be available to the optionee
      until the first anniversary of the stock option grant. Options for officers
      are
      issued at a 15% premium over fair market value, carry a five year life and
      vest
      ratably over 1 year. Using the Black-Scholes pricing model the Company has
      determined that the fair value of these options is approximately $182,000.





NOTE
      10 – SUBSEQUENT EVENTS





On
      August
      16, 2007, the Company signed a $5,000,000, 6% convertible promissory note with
      Vision Opportunity Master Fund, Ltd. Interest on the note is due quarterly
      and
      matures within six months. The note also carries a Mandatory Conversion Option
      which calls for conversion of the note into Convertible Preferred Stock once
      the
      Company is approved to issue preferred stock. The conversion price for this
      mandatory conversion is $0.60 per share. The Convertible Preferred stock is
      convertible into Common Stock of the Company at a 1:1 ratio and carries a 6%
      dividend. The note also carries an optional conversion, at the right of the
      holder, into Common Stock at $0.60 per share. The note also calls for the
      issuance of Series A, Series B, and Series C warrants and a potential future
      investment at the option of the holder.




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          11
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**Item
                2.**
            **Management’s
                Discussion and Analysis of Financial Condition and Results of
                Operation**





**Forward-Looking
      Statements**




Historical
      results and trends should not be taken as indicative of future operations.
      Management’s statements contained in this report that are not historical facts
      are forward-looking statements within the meaning of Section 27A of the
      Securities Act of 1933, as amended, and Section 21E of the Securities and
      Exchange Act of 1934 (the “Exchange Act”), as amended. Actual results may differ
      materially from those included in the forward-looking statements. The Company
      intends such forward-looking statements to be covered by the safe-harbor
      provisions for forward-looking statements contained in the Private Securities
      Litigation Reform Act of 1995, and is including this statement for purposes
      of
      complying with those safe-harbor provisions. Forward-looking statements, which
      are based on certain assumptions and describe future plans, strategies and
      expectations of the Company, are generally identifiable by use of the
      words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,”
“prospects,” or similar expressions. The Company’s ability to predict results or
      the actual effect of future plans or strategies is inherently uncertain. Factors
      which could have a material adverse affect on the operations and future
      prospects of the Company on a consolidated basis include, but are not limited
      to: changes in economic conditions, legislative/regulatory changes, availability
      of capital, interest rates, competition, significant restructuring and
      acquisition activities, and generally accepted accounting principles. These
      risks and uncertainties should be considered in evaluating forward-looking
      statements and undue reliance should not be placed on such statements. Further
      information concerning the Company and its business, including additional
      factors that could materially affect the Company’s financial results, is
      included herein and in the Company’s other filings with the SEC.





Information
      regarding market and industry statistics contained in this Report is included
      based on information available to the Company that it believes is accurate.
      It
      is generally based on industry and other publications that are not produced
      for
      purposes of securities offerings or economic analysis. We have not reviewed
      or
      included data from all sources, and cannot assure investors of the accuracy
      or
      completeness of the data included in this Report. Forecasts and other
      forward-looking information obtained from these sources are subject to the
      same
      qualifications and the additional uncertainties accompanying any estimates
      of
      future market size, revenue and market acceptance of products and services.
      The
      Company does not undertake any obligation to publicly update any forward-looking
      statements. As a result, investors should not place undue reliance on these
      forward-looking statements.





Prior
      to
      the Reverse Merger, X and O had no operations; accordingly, the following
      discussion of comparative operations concerns those of Juma
      Technology.





**Results
      of Operations for the three months ended June 30, 2007 and
      2006**





Revenues
      for the three months ended June 30, 2007 increased $1,134,758 or 47% to
      $3,528,959, compared with revenues of $2,394,201 for the three months ended
      June
      30, 2006. The increase in revenues was predominantly due to increased sales
      to
      existing customers and sales from AGN which were not present in
      2006.





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          12
          -




Cost
      of
      goods sold for the three months ended June 30, 2007 increased $1,477,170 or
      104%
      to $2,901,506, compared to $1,424,336 for the three months ended June 30, 2006.
      The increase is related to (i) the increase in sales, (ii) increase in engineers
      and service desk personnel and (iii) the increase in costs associated with
      AGN
      which was not present in 2006.





Gross
      margin for the three months ended June 30, 2007 decreased $342,412 or 35% to
      $627,453, compared to $969,865 for the three months ended June 30, 2006. The
      decrease is directly related to the increase in salaries for engineers, timing
      of workload and additional costs incurred in 2007 due to the acquisition of
      AGN.





Selling
      expenses increased by $296,036 or 89% to $629,552 for the three months ended
      June 30, 2007, compared to $333,516 for the three months ended June 30, 2006.
      The increase was predominantly due to (i) an increase in the sales force, (ii)
      an increase in revenue and the subsequent increased commissions due on those
      revenues and (iii) sales expenses of AGN which were not present in
      2006.





Research
      and development expenses increased to $177,091 for the three months ended June
      30, 2007. This increase is directly attributable to AGN. The Company believes
      that research and development costs will continue to increase due to the AGN
      subsidiary and the development of its platform and product
      offerings.





General
      and administrative expenses increased by $840,306 or 192% to $1,276,974 for
      the
      three months ended June 30, 2007, compared to $436,668 for the three months
      ended June 30, 2006. The increase was predominantly due to (i) general and
      administrative expenses related to AGN, (ii) salaries (due to an increase in
      employees and raises), (iii) a reduction in rebates, (iv) an increase in travel
      expenses offset by a reduction in outside services, and (v) an increase in
      costs
      associated with being a public company.





Interest
      expense (net) totaled $43,081 for the three months ended June 30, 2007 compared
      to $12,652 for the comparable period in 2006.





The
      Company experienced a net loss of $1,499,245 for the three months ended June
      30,
      2007 compared to net income of $184,989 for the comparable period in 2006.
      The
      net loss for the three months ended June 30, 2007 was predominantly due to
      (i)
      losses sustained by the AGN subsidiary ($438,934), (ii) increases in cost of
      goods sold, (iii) increases in selling expenses and (iv) increase in general
      and
      administrative expenses. Currently AGN does not generate any material revenues,
      but is does incur significant operational and development expenses that
      management believes will continue for the foreseeable future. The Company’s core
      business is experiencing growth in engineering, sales personnel and other areas
      in preparation of various product launches. The Company expects these costs
      to
      continue to rise until these various products are launched and revenue from
      the
      new products begins to offset the additional costs.





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          13
          -


**Results
      of Operations for the six months ended June 30, 2007 and
      2006**





Revenues
      for the six months ended June 30, 2007 increased $1,650,909 or 36% to
      $6,240,064, compared with revenues of $4,589,155 for the six months ended June
      30, 2006. The increase in revenues was predominantly due to increased sales
      to
      existing customers and sales from AGN which were not present in
      2006.





Cost
      of
      goods sold for the six months ended June 30, 2007 increased $2,586,496 or 94%
      to
      $5,324,050, compared to $2,737,554 for the six months ended June 30, 2006.
      The
      increase is related to (i) the increase increases in sales, (ii) increase in
      engineers and service desk personnel and (iii) the increase in costs associated
      with AGN which was not present in 2006.





Gross
      margin for the six months ended June 30, 2007 decreased $935,587 or 51% to
      $916,014, compared to $1,851,601 for the six months ended June 30, 2006. The
      decrease is directly related to the increase in salaries for engineers, timing
      of workload and additional costs incurred in 2007 due to the acquisition of
      AGN.





Selling
      expenses increased by $745,987 or 132% to $1,309,276 for the six months ended
      June 30, 2007, compared to $563,289 for the six months ended June 30, 2006.
      The
      increase was predominantly due to (i) an increase in the sales force, (ii)
      an
      increases in revenue and the subsequent increased commissions due on those
      revenues and (iii) sales expenses of AGN which were not present in
      2006.





Research
      and development expenses increased to $177,091 for the six months ended June
      30,
      2007. This increase is directly attributable to AGN. The Company believes that
      research and development costs will continue to increase due to the AGN
      subsidiary and the development of its platform and product
      offerings.





General
      and administrative expenses increased by $1,311,169 or 149% to $2,193,062 for
      the six months ended June 30, 2007, compared to $881,893 for the six months
      ended June 30, 2006. The increase was predominantly due to (i) salaries (due
      to
      an increase in employees and raises), (ii) a reduction in rebates, (iii) an
      increase in professional fees primarily related to the Company’s new status as a
      public company, (iv) forgiveness of debt related to the AGN acquisition, (v)
      general and administrative expenses related to AGN offset by a reduction in
      bad
      debt expenses.





Interest
      expense (net) totaled $68,603 for the six months ended June 30, 2007 compared
      to
      $33,597 for the comparable period in 2006.





A
      benefit
      for income taxes of $306,783 was recorded for the six months ended June 30,
      2007
      compared to a provision of $3,787 for the six months ended June 30, 2006. This
      benefit is primarily due to a reversal of a deferred tax liability generated
      by
      a change in reporting net income for tax purposes from the cash basis to the
      accrual basis.




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          14
          -




The
        Company experienced a net loss of $4,395,494 for the six months ended June
        30,
        2007 compared to net income of $369,035 for the comparable period in 2006.
        The
        net loss for the six months ended June 30, 2007 was predominantly due to
        the
        losses sustained by the AGN subsidiary of $2,434,637. Of this amount $1,870,259
        is related to the impairment of the goodwill associated with the AGN
        acquisition. The goodwill was deemed impaired due to AGN’s limited revenue and
        losses incurred since inception and into the foreseeable future. In addition,
        the net loss is also due to (i) increases in cost of goods sold, (i) increases
        in selling expenses and (iii) increases in general and administrative expenses.
        The Company’s core business is experiencing growth in engineering, sales
        personnel and other areas in preparation of various product launches. The
        Company expects these costs to continue to rise until these various products
        are
        launched and revenue from the new products begins to offset the additional
        costs.




**Liquidity
      and Capital Resources**





As
      of
      June 30, 2007, the Company had total current assets of $4,622,820, and total
      current liabilities of $6,352,175, resulting in a current working capital of
      $(1,729,355). Also, at June 30, 2007 the Company had $143,446 in cash.
      Management does not believe that these amounts will be sufficient for the
      upcoming year, nor does it believe that the current business will be able to
      sustain the anticipated growth of the operations. Management will attempt to
      rely on external sources of capital to finance the execution of our business
      plan. We do not have any firm commitments to raise additional capital nor is
      there any assurance additional capital will be available at acceptable terms.
      We
      continue to seek additional sources of funding for working capital purposes.
      On
      February 7, 2007, the Company began offering up to $2,000,000 of Convertible
      Promissory Notes (“Notes”). The Notes are non-interest bearing, mature in 18
      months and are convertible, at the holders option, into common stock of the
      Company at $1.00 per share. Each investor will also receive one-half share
      of
      common stock for each dollar of the principal amount of the Notes purchased.
      The
      Company has sold $1,725,000 in Notes. There can be no assurance that any more
      Notes will be sold under the previously described private placement of the
      Company’s securities.





Subsequent
      to the six months ended June 30, 2007, the
      Company, On August 16, 2007, signed a $5,000,000, 6% convertible promissory
      note
      with Vision Opportunity Master Fund, Ltd. Interest on the note is due quarterly
      and matures within six months. The note also carries a Mandatory Conversion
      Option which calls for conversion of the note into Convertible Preferred Stock
      once the Company is approved to issue preferred stock. The conversion price
      for
      this mandatory conversion is $0.60 per share. The Convertible Preferred stock
      is
      convertible into Common Stock of the Company at a 1:1 ratio and carries a 6%
      dividend. The note also carries an optional conversion, at the right of the
      holder, into Common Stock at $0.60 per share. The note also calls for the
      issuance of Series A, Series B, and Series C warrants and a potential future
      investment at the option of the holder.





Cash
      flows used from operations totaled $3,358,311 for the six months ended June
      30,
      2007, compared to cash provided by operations of $96,288 for the six months
      ended June 30, 2006. The decrease in cash flow from operations is predominantly
      due to the loss incurred in 2007 (predominantly due to impairment of goodwill
      related to the AGN acquisition), offset by (i) an increase in accounts payable
      and accrued expenses and (ii) a decrease in accounts receivable.





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          15
          -




Cash
      flows provided by investing activities increased to $1,929,667 for the six
      months ended June 30, 2007 compared to cash flows used by investing activities
      of $133,805 for the six months ended June 30, 2006. While capital expenditures
      have decreased during 2007, management expects to substantially increase its
      investment in fixed assets during 2007. This increase will predominantly be
      related to the acquisition of AGN and the execution of its business plan. If
      the
      Company is unable to obtain the necessary capital to invest in fixed assets
      the
      business plan for AGN and the Company would be adversely affected.





Cash
      flows from financing activities increased to $1,380,620 for the six months
      ended
      June 30, 2007 compared cash flows provided by financing activities of $172,946
      for the six months ended June 30, 2006. The increase was predominantly due
      to
      proceeds from convertible notes.




During
      March 2005, the Company obtained a $350,000 credit line that bears interest
      at
      0.5% above the prime interest rate. The credit line requires an annual 30 day
      clean up provision and can be converted into a three year term note at the
      bank’s discretion. At December 31, 2006, the entire amount of the credit line
      was outstanding and the weighted average interest rate was 8.1%. The credit
      line
      is guaranteed by certain officers of the Company. The Company is currently
      not
      in compliance with the 30 day clean up clause of the credit line. The lender
      has
      not sought to exert any of its rights pertaining to the Company’s noncompliance.
      The Company and the lender are currently negotiating to change several of the
      terms of the credit line.





The
      Company has two letters of credit outstanding with the same lender for a total
      of $41,394.Both letters of credit expire during 2007.





During
      May 2006, the Company issued two promissory notes for $75,000 each. Interest
      on
      these notes accrue at 2% and the notes were to mature on or before August 22,
      2006 or upon receipt or gross proceeds of at least $250,000 from the sale of
      any
      debt or equity securities. During July 2006, the Company received gross proceeds
      of over $250,000 in debt and triggered the default interest rate of 8% and
      the
      holder of the promissory notes has extended the maturity date to December 31,
      2006. The Company has not paid off the Note and is in negotiations with the
      lender to either extend the maturity of the note or convert the note into common
      stock





During
      July 2006, the Company sold rights to purchase shares of common stock of the
      Company pursuant to subscription agreements totaling $1,150,000. The
      subscription agreement offered shares at prices ranging from $0.16 to $0.40
      per
      share and it was contingent on the Company completing a reverse merger into
      a
      public entity. The reverse merger was completed in November 2006. These
      subscription agreements were treated as loans, until November 2006 due to the
      fact that Juma Technology LLC could not sell common stock. Once the reverse
      merger was consummated the 4,250,000 shares of common stock were issued and
      the
      loans were cancelled.




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          16
          -




**Item
      3. Controls and Procedures**




**Evaluation
      of Disclosure Controls and Procedures**




The
      Company maintains a set of disclosure and controls and procedures designed
      to
      ensure that information required to be disclosed by us in our reports filed
      under the Securities Exchange Act, is recorded, processed, summarized, and
      reported within the time periods specified by the SEC's rules and forms.
      Disclosure controls are also designed with the objective of ensuring that this
      information is accumulated and communicated to our management, including our
      chief executive officer and chief financial officer, as appropriate, to allow
      timely decisions regarding required disclosure.




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          17
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**PART
      II-OTHER INFORMATION**




**Item
      2.**  **Unregistered
      Sales of Equity Securities and Use of Proceeds**





On
      February 7, 2007, the Company began offering up to $2,000,000 of Convertible
      Promissory Notes (“Notes”) to “accredited investors” as such term is defined
      under Regulation D promulgated under the Securities Act of 1933. The Notes
      are
      non-interest bearing, mature in 18 months and are convertible, at the holders
      option, into common stock of the Company at $1.00 per share. Each investor
      will
      also receive one-half share of common stock for each dollar of the principal
      amount of the Notes purchased. During the three-month period ended June 30,
      3007, the Company has sold $775,000 in Notes to investors. Each of these
      securities holders has represented in the applicable subscription agreement
      that
      the Notes and common stock were purchased for investment and that he was an
      accredited investor under Regulation D. These shares of common stock are
      restricted shares as defined in the Securities Act.





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          18
          -




**SIGNATURES**





In
      accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused
      this report to be signed on its behalf by the undersigned, thereunto duly
      authorized.





Juma
                Technology Corp.(Registrant)Date:
                August 17, 2007
            
            /s/
                David GianganoDavid
                Giangano
              Chief
                Executive Officer, Director
              (Principal
                Executive Officer)Date:
                August 17, 2007
            
            /s/
                Anthony FernandezAnthony
                Fernandez
              Chief
                Financial Officer, Director
              (Principal
                Financial and Accounting Officer)




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