**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**WASHINGTON,
      D.C. 20549**





**FORM
      10-Q**





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





For
      the
      quarterly period ended March 31, 2008





**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 Registrant 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)





**(631)
      300-1000**


(Registrant’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 x
      No o





Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, a non-accelerated filer, or a smaller reporting company.
      See
      definitions of “large accelerated filer,” “accelerated filer,” and “smaller
      reporting company” in Rule 12b-2 of the Exchange Act. (Check one):





Large
                accelerated filero
            Accelerated
                fileroNon-accelerated
                filero(Do not check if a smaller reporting company)
            Smaller
                reporting companyþ





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act). Yes o No x





Indicate
      the number of shares outstanding of each of the issuer’s classes of common
      equity, as of the latest practicable date. 43,948,950 Common
      Shares as of April 29, 2008








**TABLE
      OF CONTENTS**





Page**PART
                I – FINANCIAL INFORMATION****Item
                1.**
            **Unaudited
                Condensed Consolidated Financial Statements**Condensed
                Consolidated Balance Sheet as of March 31, 2008 and December 31,
                2007
            3Condensed
                Consolidated Statement of Operations for the three months ended March
                31,
                2008 and 2007
            4Condensed
                Consolidated Statement of Cash Flows for the three months ended March
                31,
                2008 and 2007
            5Notes
                to Condensed Consolidated Financial Statements
            6-16**Item
                2.**
            **Management’s
                Discussion and Analysis of Financial Condition and Results of
                Operations**Results
                of Operations for the three ended March 31, 2008 and 2007
            17-18Liquidity
                and Capital Resources
            19-21**Item
                3.**
            **Quantitative
                and Qualitative Disclosures about Market Risk**
            21**Item
                4.**
              **and
                4T**
            **Controls
                and Procedures**Evaluation
                of Disclosure Controls and Procedures
            21**PART
                II – OTHER INFORMATION****Item
                1.**
            **Legal
                Proceedings**
            23**Item
                2.**
            **Unregistered
                Sales of Equity Securities and Use of Proceeds**
            23**Item
                3.**
            **Defaults
                Upon Senior Securities**
            23**Item
                4.**
            **Submission
                of Matters to Vote of Security Holders.**
            23**Item
                5.**
            **Other
                Information**
            23**Item
                6.**
            **Exhibits**
            24Signatures
            25Certifications





-
          2
          -


**PART
      I - FINANCIAL INFORMATION**





**Item
              1.**
            **Financial
                Statements**





**Juma
      Technology Corp. and Subsidiaries**


**Condensed
      Consolidated Balance Sheet**





**March 31,**
              **2008**
            
            **December 31,**
              **2007**(Unaudited)
            
            (Audited)ASSETSCurrent
                assets:Cash
            
            $
            1,121,883
            
            $
            302,889Accounts
                receivable, (net of allowance of $172,421 and $0,
                respectively)
            
            
            5,004,249
            
            
            3,775,360Inventory
            
            
            127,647
            
            
            184,357Prepaid
                expenses
            
            
            87,222
            
            
            100,180Other
                current assets
            
            
            334,220
            
            
            312,051Total
                current assets
            
            
            6,675,221
            
            
            4,674,837Fixed
                assets, (net of accumulated depreciation of $542,382 and $540,344,
                respectively)
            
            
            1,766,310
            
            
            1,686,189Other
                assets:Security
                deposits
            
            
            101,700
            
            
            101,700Total
                assets
            
            $
            8,543,231
            
            $
            6,462,726LIABILITIES
                AND STOCKHOLDERS’ DEFICIENCYCurrent
                liabilities:Convertible
                notes payable, (net of discount of $336,574 and $219,444,
                respectively)
            
            $
            1,953,226
            
            $
            905,556Current
                portion of capital lease payable
            
            
            217,850
            
            
            196,720Accounts
                payable
            
            
            4,269,071
            
            
            2,564,353Accrued
                expenses and taxes payable
            
            
            1,662,356
            
            
            552,006Deferred
                revenue
            
            
            378,711
            
            
            654,032Total
                current liabilities
            
            
            8,481,214
            
            
            4,872,667Capital
                leases payable, net of current maturities
            
            
            326,208
            
            
            397,256Convertible
                note payable, (net of discount of $268,064 and $484,376,
                respectively)
            
            
            4,446,736
            
            
            3,615,624Total
                liabilities
            
            
            13,254,158
            
            
            8,885,547Commitments
                and contingenciesStockholders’
                deficiencyPreferred
                stock,, $0.0001 par value, 10,000,000 shares authorized, 8,333,333
                shares
                issued and outstanding, respectively
            
            
            833
            
            
            833Common
                stock, $0.0001 par value, 900,000,000 shares authorized, 43,948,950
                and
                43,943,950 shares issued and outstanding, respectively
            
            
            4,394
            
            
            4,394Additional
                paid in capital
            
            
            15,545,489
            
            
            15,342,357Retained
                deficit
            
            
            (20,261,643
            )
            
            (17,770,405
            )Total
                stockholders’ deficiency
            
            
            (4,710,927
            )
            
            (2,422,821
            )Total
                liabilities and stockholders’ deficiency
            
            $
            8,543,231
            
            $
            6,462,726





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 ended March 31,**





2008
            
            2007Sales
            
            $
            4,636,879
            
            $
            2,711,105Cost
                of goods sold
            
            
            3,654,099
            
            
            2,422,544Gross
                margin
            
            
            982,780
            
            
            288,561Operating
                expenses:Selling
            
            
            520,559
            
            
            679,724Research
                and development
            
            
            181,585
            
            
            -Goodwill
                impairment
            
            
            204,600
            
            
            1,995,259General
                and administrative
            
            
            2,259,065
            
            
            791,088Total
                operating expenses
            
            
            3,165,809
            
            
            3,466,071(Loss)
                from operations
            
            
            (2,183,029
            )
            
            (3,177,510
            )Interest
                (expense)/income, net
            
            
            (306,810
            )
            
            (25,522
            )(Loss)
                before income taxes
            
            
            (2,489,839
            )
            
            (3,203,032
            )Provision/(benefit)
                for income taxes
            
            
            1,400
            
            
            (306,783
            )Net
                (loss)
            
            $
            (2,491,239
            )
            $
            (2,896,249
            )Basic
                and diluted net (loss) per share
            
            $
            (0.06
            )
            $
            (0.07
            )Weighted
                average common shares outstanding
            
            
            43,946,506
            
            
            42,094,500





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




-
          4
          -


**Juma
      Technology Corp and Subsidiaries**


**Condensed
      Consolidated Statements of Cash Flows**


**For
      the three months ended March 31,**





2008
            
            2007Operating
                ActivitiesNet
                loss
            
            $
            (2,491,239
            )
            $
            (2,896,249
            )Adjustments
                to reconcile net (loss) to net cash (used) by operating
                activities:Depreciation
            
            
            60,354
            
            
            54,766Deferred
                taxes
            
            
            -
            
            
            (306,783
            )Cost
                of stock options
            
            
            153,858
            
            
            11,752Valuation
                of beneficial conversion factor
            
            
            46,774
            
            
            -Amortization
                of beneficial conversion factor, warrants and notes
                discounts
            
            
            428,781
            
            
            -Allowance
                for doubtful accounts
            
            
            172,421
            
            
            -Changes
                in operating assets and liabilities:Accounts
                receivable
            
            
            (1,401,310
            )
            
            1,352,658Inventory
            
            
            56,710
            
            
            (589,646
            )Other
                current assets
            
            
            (22,169
            )
            
            41,712Prepaid
                expenses
            
            
            12,958
            
            
            (856,640
            )Security
                deposit
            
            
            -
            
            
            (46,299
            )Accounts
                payable and accrued expenses
            
            
            2,815,070
            
            
            572,586Deferred
                revenue
            
            
            (275,321
            )
            
            (53,508
            )Net
                cash flows (used) by operating activities
            
            
            (443,113
            )
            
            (2,715,651
            )Investing
                ActivitiesAcquisition
                of fixed assets
            
            
            (140,475
            )
            
            (41,323
            )Note
                receivable
            
            
            -
            
            
            251,041Acquisition
                of AGN, net of cash
            
            
            -
            
            
            1,724,103Net
                cash flows (used) provided by investing activities
            
            
            (140,475
            )
            
            1,933,821Financing
                ActivitiesIssuance
                of common stock
            
            
            -
            
            
            (286,075
            )Proceeds
                from convertible promissory note
            
            
            1,450,000
            
            
            950,000Proceeds
                for stock option exercise
            
            
            2,500
            
            
            -Repayment
                of capital leases payable
            
            
            (49,918
            )
            
            -Repayment
                of long-term debt
            
            
            -
            
            
            (1,459
            )Net
                cash flows provided by financing activities
            
            
            1,402,582
            
            
            662,466Net
                change in cash
            
            
            818,994
            
            
            (119,364
            )Cash,
                beginning of year
            
            
            302,889
            
            
            191,470Cash,
                end of year
            
            $
            1,121,883
            
            $
            72,106Supplemental
                Cash Flow Information:Interest
                paid
            
            $
            160,854
            
            $
            26,144Income
                taxes paid
            
            $
            1,400
            
            $
            455NONCASH
                INVESTING ACTIVITYImpairment
                of goodwill derived from notes receivable/payable (net)
            
            $
            204,600
            
            $
            -





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





-
          5
          -




**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING
      POLICIES





Organization




Juma
      Technology, LLC, was formed in the State of New York on July 12, 2002. On
      November 14, 2006, Juma Technology LLC consummated an agreement with X and
      O
      Cosmetics, Inc. to merge 100% of its member interests (“Reverse Merger”) in
      exchange for 33,250,731 shares of common stock in X and O Cosmetics, Inc. The
      transaction was treated for accounting purposes as a recapitalization by Juma
      Technology LLC as the accounting acquirer.





Prior
      to
      the Reverse Merger, there were 259,830,000 shares of our common stock
      outstanding. As part of the Reverse Merger, 33,260,731 shares of our common
      stock were issued to former members of Juma Technology, LLC and their
      affiliates, and our former officer and director, Glen Landry returned
      251,565,731 of his 256,500,000 shares of common stock back to treasury; after
      giving effect to this share cancellation, there were 8,264,269 shares of common
      stock outstanding at the time of the reverse merger. Following the transaction
      there were 41,525,000 shares of common stock issued and outstanding .





On
      January 28, 2007, X and O Cosmetics, Inc. changed its name to Juma Technology
      Corp.





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. The Company is
      focused on providing converged communications solutions for various vertical
      markets with an emphasis in driving long term professional services engagements,
      maintenance, monitoring and management contracts. The Company 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. The Company also offers telephone carrier services that enhance
      functionality and increase fault-tolerance while providing for robust business
      continuity via disaster recovery mechanisms. Its flagship offering allows
      Internet Protocol PBX’s to be interconnected within a clients global network and
      to the Public Switched Telephone Network in 30 minutes or less, regardless
      of
      PBX manufacturer.





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”). In February 2008, AGN
      Networks Inc. changed its name to Nectar Services Corp. (“Nectar”).





-
          6
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





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





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
      financial statements include the accounts of the Company and its wholly-owned
      subsidiaries Nectar 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-Q 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,
      2007.





The
      results and trends on these interim condensed consolidated financial statements
      for the three months ended March 31, 2008 and 2007 may not be representative
      of
      those for the full fiscal year or any future periods.





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".





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          7
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





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





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, warrants, convertible loans and other
      convertible securities. There were 20,627,210 and 4,747,568 potentially dilutive
      shares for the three months ended March 31, 2008 and 2007, respectively. The
      effect of the potentially dilutive shares for the three months ended March
      31,
      2008 and 2007 have been ignored, as their effect would be
      antdilutive.




Fair
        Value
  In
        September 2006, the FASB issued Statement No. 157, “Fair Value Measurements”
(FASB No. 157”). FASB No. 157 defines fair value, establishes a framework for
        measuring fair value in generally accepted accounting principles (GAAP),
        and
        expands disclosures about fair value measurements. FASB No. 157 applies under
        other accounting pronouncements that require or permit fair value measurements,
        the Board having previously concluded in those accounting pronouncements
        that
        fair value is the relevant measurement attribute. Accordingly, this Statement
        does not require any new fair value measurements. The Company does not currently
        report any of the assets covered by this statement on the fair value basis.
        The
        Company reports the convertible debt on the fair value basis on the date
        of the
        transaction. The method used for the determination of the fair value is
        described in note 5. The majority of the information used for this calculation
        is from quoted market sources.


Reclassifications





Certain
      amounts included for the period ended March 31, 2008 financial statements have
      been reclassified to conform with the presentation for the period ended March
      31, 2007.




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          8
          -




**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      2 – ACCOUNTS RECEIVABLE





Accounts
      receivable consists of the following:





2008Billed
            
            $
            2,296,621Unbilled
                (costs in excess of billings)
            
            
            2,707,628$
            5,004,249





We
      make
      ongoing estimates relating to the collectibility of our accounts receivable
      and
      maintain an allowance for estimated losses resulting from the inability of
      our
      customers to make required payments. Estimates used in determining accounts
      receivable allowances are based on specific customer account reviews and
      historical experience of credit losses. We also apply judgment including
      assessments about changes in economic conditions, concentration of receivables
      among customers and industries, recent write-off trends, rates of bankruptcy,
      and credit quality of specific customers. Unanticipated changes in the financial
      condition of customers, the resolution of various disputes, or significant
      changes in the economy could impact the reserves required. As of March 31,
      2008
      the allowance for doubtful accounts was $172,421, prior to this date no
      allowance was deemed necessary.





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.





On
      September 18, 2007, an addendum to the merger agreement between the Company
      and
      AGN stated, among other items, that if the Company does not acquire the business
      of Avatel Technologies, Inc. then the forgiveness of the $125,000 is void and
      the $125,000 would be payable to the Company upon written notice.





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          9
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      4 – ACQUISITION OF AGN NETWORKS, INC.





On
      March
      6, 2007, the Company completed the acquisition of 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.





On
      September 18, 2007, an Addendum (the “Addendum”) was added to the Agreement. The
      Addendum stated that AGN would pay an additional $188,216 towards obligations
      due to Avatel Technologies, Inc. in exchange for the forgiveness of any
      intercompany loans or claims that Avatel Technologies, Inc. and its shareholders
      may have against the Company or AGN. The Addendum also stated that $125,000
      of
      the Note which was forgiven would be payable to the Company, at any time, if
      the
      Company does not acquire the business of Avatel Technologies, Inc. (See Note
      3)





Associated
      with the acquisition of AGN the Company recorded goodwill of $1,870,259, which
      was deemed impaired in March 2007. In September 2007 a reduction to the impaired
      goodwill of $425,779 was recorded. This adjustment to the impaired goodwill
      is
      related to the Addendum and the forgiveness of any intercompany loans. As of
      September 30, 2007, the impaired goodwill was $1,444,713.





In
      March
      2008, the Company recorded a loan for $329,600 to the shareholders of AGN,
      pursuant to the agreement. This loan bears interest at a rate of 7.5% and
      principal and interest are payable in quarterly instalments over 2 years.
      Concurrent with the execution of this loan the Company exercised its right
      to
      receive the $125,000 due to the Company based on the Addendum signed on
      September 18, 2007. The net effect of these transactions resulted in an
      adjustment to the purchase price and the creation of goodwill of $204,600,
      which
      was deemed impaired.




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          10
          -




**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      5
–CONVERTIBLE 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. During
      August 2007, the holder of the notes converted both notes and all accrued
      interest into 326,450 shares of common stock.





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 March 31, 2008, the Company has sold $2,225,000 in Notes. Of this amount
      $100,000 has been converted into common stock and $1,000,000 is interest bearing
      at a rate of 14% with interest payments being made monthly. In
      connection with the reporting of these convertible notes, the Company has not
      recorded a beneficial conversion feature as the conversion price was in excess
      of the stock price on the date the notes were entered into. The Company has
      recorded a discount of $741,667 to record the cost of the shares issued in
      lieu
      of interest.





On
      August
      16, 2007, The Company signed a $5,000,000, 6% convertible promissory note with
      Vision Opportunity Master Fund, Ltd. (a managing director of Vision Opportunity
      Master Fund, Ltd. is a director of the Company). Interest on the note is
      due quarterly and matures within nine 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. During
      September 2007, Vision converted the promissory note into 8,333,333 shares
      of





-
          11
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      5
–CONVERTIBLE NOTES PAYABLE (continued)





Convertible
      Preferred Stock.





In
      connection with the issuance of the warrants and beneficial conversion feature,
      the Company has reflected a value at the date of issuance for the warrants
      of
      $1,622,452 and a beneficial conversion feature value of $1,351,187. The fair
      value of the warrant grant was estimated on the date of the grant using the
      Black-Scholes option-pricing model with the following weighted average
      assumptions: expected volatility of 15%, risk free interest rate of 6%; and
      expected lives of between 1 to 5 years. The value of the warrants and beneficial
      conversion feature have been expensed during the quarter ended September 30,
      2007, as they vested immediately.





On
      November 29, 2007, the Company entered into a Note and Warrant Purchase
      Agreement with Vision Opportunity Master Fund, Ltd. (“Purchaser”) with respect
      to the sale of notes in an aggregate principal amount of up to $6,000,000.
      Also
      on November 29, 2007, the Company entered into Amendment No. 1 to the Note
      Purchase Agreement. Under the Note Purchase Agreement, as amended, the Company
      executed and delivered to Vision Opportunity Master Fund, Ltd. (a) the Company’s
      $2,500,000 principal amount, senior secured 10% convertible promissory note,
      (b)
      the Company’s $600,000 principal amount, senior secured 10% convertible
      promissory note and, (c) one warrant to purchase an aggregate of 7,300,000
      shares of the Company’s common stock and (d) one warrant to purchase an
      aggregate of 1,000,000 shares of the Company’s common stock. The Note Purchase
      Agreement, as amended, contemplates two other tranches, the closing with respect
      to such tranches scheduled to take place in March and June 2008. At each such
      subsequent closing, the Company would issue an additional promissory note to
      the
      Purchaser in the principal amount of $1,450,000. Each such subsequent closing
      is
      subject to the Company complying with certain covenants and meeting certain
      conditions under the Note Purchase Agreement, as amended.





In
      connection with the issuance of the warrants and beneficial conversion feature,
      the Company has reflected a value at the date of issuance for the warrants
      of
      $1,578,452 and a beneficial conversion feature value of $250,596. The fair
      value
      of the warrant grant was estimated on the date of the grant using the
      Black-Scholes option-pricing model with the following weighted average
      assumptions: expected volatility of 15%, risk free interest rate of 6%; and
      expected lives of between 1 to 5 years. The value of the warrants have been
      expensed during the quarter ended December 31, 2007, as they vested immediately.
      The beneficial conversion feature is being amortized over the term of the
      note.





On
      March
      7, 2008, the Company closed the second tranche under the Note and Purchase
      Agreement. The Company issued an additional promissory note to the Purchaser
      in
      the principal amount of $1,450,000. In connection with this second tranche
      the
      Company has recorded a beneficial conversion feature of $46,774 which is being
      amortized over the term of the note.




-
          12
          -




**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      5
–CONVERTIBLE NOTES PAYABLE (continued)





The
      Notes
      accrue interest at 10% per annum from the date of issuance, and are payable,
      at
      the Company’s option, in cash or shares of its common stock, quarterly in
      arrears commencing on **** December
      31, 2007. The maturity date of the Notes is thirty-six months from the issuance
      date. The Note contains various events of default such as failing to make a
      payment of principal or interest when due, which if not cured, would require
      the
      Company to repay the holder immediately the outstanding principal sum of and
      any
      accrued interest on the Notes. Each Note requires the Company to prepay under
      the Note if certain “Triggering Events” or “Major Transactions” occur while the
      Note is outstanding. The holders of the Notes are entitled to convert the Notes
      into shares of the Company’s common stock at any time based on the fixed
      conversion price of $0.75 per share.




In
      connection with the Vision Transactions, the Company is in technical default
      of
      the registration requirements and has recorded $100,000 for costs associated
      with this default in accordance with EITF 00-19-2, “Accounting for Registration
      Payment Agreements”.





NOTE
      6
      - CAPITAL LEASE OBLIGATIONS





CitiCorp
      Vendor Finance, Inc.




The
      Company leases software and computer equipment under capital lease arrangements
      with CitiCorp Vendor Finance, Inc. Pursuant to the lease, the lessor retains
      actual title to the leased property until the termination of the lease, at
      which
      time the property can be purchased for one dollar ($1).





The
      lease
      dated June 2, 2006 is for software and computer equipment for the Company.
      The
      term of the lease is sixty months with monthly payments of $3,461, which is
      equal to the cost to amortize $172,187 over a 5-year period at an interest
      rate
      of 7.6% per annum.





Var
      Resources Inc.




The
      Company leases computer equipment under capital lease arrangements with Var
      Resources, Inc. Pursuant to the lease, the lessor retains actual title to the
      leased property until the termination of the lease, at which time the property
      can be purchased for one dollar ($1).





There
      are
      five leases dated November 19, 2007 for software and computer equipment used
      at
      the Company’s various data centers. The terms of the leases are thirty-six
      months with total monthly payments of $8,600, which is equal to the cost to
      amortize $253,174 over a 3-year period at an interest rate of 13.5% per
      annum.




-
          13
          -




**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      6
      - CAPITAL LEASE OBLIGATIONS (continued)





Hitachi
      Data Systems




The
      Company leases software and computer equipment under capital lease arrangements
      with Hitachi Data Systems. Pursuant to the lease, the lessor retains actual
      title to the leased property until the termination of the lease, at which time
      the property can be purchased for one dollar ($1).





The
      lease
      dated December 31, 2007 is computer equipment used at the Company’s various data
      centers. The term of the lease is thirty-six months with monthly payments of
      $4,296.04, which is equal to the cost to amortize $130,658 over a 3-year period
      at an interest rate of 11.3% per annum.





Key
      Bank




The
      Company leases software and computer equipment under capital lease arrangements
      with Key Bank. Pursuant to the lease, the lessor retains actual title to the
      leased property until the termination of the lease, at which time the property
      can be purchased for one dollar ($1).





The
      lease
      dated June 20, 2007 is for software and licenses for the Company. The term
      of
      the lease is twenty-four months with monthly payments of $6,055, 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 – LEASE COMMITMENTS





The
      Company leases its Farmingdale, NY (from a related party), New York, NY,
      Deerfield Beach, FL and Burlington, NJ premises, pursuant to individual sublease
      agreements accounted for as operating leases. The lease on the Farmingdale,
      NY
      premises expires on May 31, 2016, the New York, NY premises lease expires on
      November 30, 2011, the Deerfield Beach, FL premises lease expires on March
      31,
      2010 and the Burlington City, NJ premises lease expires on March 9, 2012. All
      premises are under a non-cancelable operating lease.





The
      Company also has operating leases for office equipment. The operating leases
      are
      for forty-eight months and expire April 30, 2011.





-
          14
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      8 – 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.





Through
      March 31, 2008, the Company has 5,436,250 stock options to officers, employees
      and consultants outstanding at exercise prices ranging from $0.50 to $1.33
      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
      $980,664.





On
      August
      31, 2007 the Company adopted the 2007 Stock Option Plan of Juma Technology
      Corp., (the “2007 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. Through March 31, 2008 no options have
      been issued under the 2007 Plan.





-
          15
          -





**Juma
      Technology Corp. and Subsidiaries**


**Notes
      to Condensed Consolidated Financial Statements**


**March
      31, 2008**





NOTE
      9 – PREFERRED STOCK





In
      July
      2007, the Board of Directors approved an amendment to the
      Company's certificate of incorporation to authorize 10,000,000 shares of
      $0.0001 par value preferred stock, subject to shareholder
      approval.





On
      August
      16, 2007, the Company signed a $5,000,000, 6% convertible promissory note with
      Vision Opportunity Master Fund, Ltd (“Vision”). Interest on the note is due
      quarterly and matures within nine 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. During
      September 2007, Vision converted the promissory note into 8,333,333 shares
      of
      Convertible Preferred Stock.





In
      connection with the issuance of the warrants and beneficial conversion feature,
      the Company has reflected a value at the date of issuance of warrants of
      $1,578,452 and a beneficial conversion feature value of $297,370. The fair
      value
      of the warrant grant was estimated on the date of the grant using the
      Black-Scholes option-pricing model with the following weighted average
      assumptions: expected volatility of 15%, risk free interest rate of 6%; and
      expected lives of between 1 to 5 years. The value of the warrants and beneficial
      conversion feature have been expensed during the year ended December 31, 2007,
      as they vested immediately.





NOTE
      10 – SUBSEQUENT EVENTS





During
      April 2008, the Company issued 6,768,500 stock options to officers, directors,
      employees and consultants at prices ranging from $0.52 to $0.60. These options
      carry a ten year term and vest ratably over 5 years. Options for officers and
      directors are issued at a 15% premium over fair market value, carry a five
      year
      life and vest ratably over 1 to 3 years. Using the Black-Scholes pricing model
      the Company has determined that the fair value of these options is approximately
      $795,955.




-
          16
          -


**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. Actual results may differ materially from those
      included in the forward-looking statements. 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 March 31, 2008 and
      2007**





Revenues
      for the three months ended March 31, 2008 increased $1,925,774 or 71% to
      $4,636,879, compared with revenues of $2,711,105 for the three months ended
      March 31, 2007. The increase in revenues was predominantly due to increased
      sales to new and existing customers.


-
          17
          -


Cost
      of
      goods sold for the three months ended March 31, 2008 increased $1,231,555 or
      51%
      to $3,654,099, compared to $2,422,544 for the three months ended March 31,
      2007.
      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
      Nectar which was not present for the entire comparable period in
      2007.





Gross
      margin for the three months ended March 31, 2008 increased $694,219 or 241%
      to
      $982,780, compared to $288,561 for the three months ended March 31, 2007. The
      increase is related to the increase in sales and more efficient project
      management offset by cost of sales incurred by Nectar which were not present
      for
      the entire comparable period in 2007.





Selling
      expenses decreased by $159,165 or 23% to $520,559 for the three months ended
      March 31, 2008, compared to $679,724 for the three months ended March 31, 2007.
      The decrease was predominantly due to (i) a decrease in marketing efforts,
      (ii)
      a decrease in sales force personnel and (iii) sales expenses of Nectar which
      were not present for the entire comparable period in 2007.





Research
      and development expenses increased to $181,559 for the three months ended March
      31, 2008. This increase is directly attributable to Nectar. The Company believes
      that research and development costs will continue to increase due to the Nectar
      subsidiary and the development of its platform and product
      offerings.





The
      goodwill, which is associated with the acquisition of Nectar, was deemed
      impaired at the time of the acquisition. This goodwill impairment was adjusted
      during the three months ended March 31, 2008 due to a loan which was created
      due
      to a provision in the purchase contract offset by an addendum to the purchase
      contract which allowed for a receivable which entitled the Company to a refund
      of a deposit on a potential acquisition. These items resulted in additional
      goodwill impairment of $204,600.





General
      and administrative expenses increased by $1,467,977 or 186% to $2,259,065 for
      the three months ended March 31, 2008, compared to $791,088 for the three months
      ended March 31, 2007. The increase was predominantly due to (i) general and
      administrative expenses related to Nectar, (ii) salaries (due to an increase
      in
      employees and raises), (iii) a reduction in rebates and (iv) an increase in
      travel expenses offset by a reduction in outside services.





Interest
      expense (net) totaled $306,810 for the three months ended March 31, 2008
      compared to $25,522 for the comparable period in 2007. The increase is
      predominantly due to the amortization of discounts on notes and beneficial
      conversion features related to convertible debt.





The
      Company experienced a net loss of $2,491,239 for the three months ended March
      31, 2008 compared to a net loss of $2,896,249 for the comparable period in
      2007.
      Currently Nectar does not generate any material revenues, but is does incur
      significant operational and development expenses that management believes will
      continue for the foreseeable future. Nectar generated a net loss of $905,159.
      The Company expects these costs to continue to rise until various products
      are
      launched and revenue from the new products begins to offset the additional
      costs.


-
          18
          -


**Liquidity
      and Capital Resources**





As
      of
      March 31, 2008, the Company had total current assets of $6,675,221, and total
      current liabilities of $8,481,214, resulting in a current working capital
      deficit of $1,805,993. Also, at March 31, 2008 the Company had $1,121,883 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.
      As
      of September 30, 2007, the Company has sold $2,225,000 in Notes. Of this amount
      $100,000 has been converted into common stock and $1,000,000 is interest bearing
      at a rate of 14% with interest payments being made monthly. There can be no
      assurance that any more Notes will be sold under the previously described
      private placement of the Company’s securities.





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 nine 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. During September 2007, Vision converted
      the promissory note into 8,333,333 shares of Convertible Preferred
      Stock.





In
      connection with the issuance of the warrants and beneficial conversion feature,
      the Company has reflected a value at March 31, 2008 for the warrants of
      $1,622,033 and a beneficial conversion feature value of $1,351,187. The fair
      value of the warrant grant was estimated on the date of the grant using the
      Black-Scholes option-pricing model with the following weighted average
      assumptions: expected volatility of 15%, risk free interest rate of 6%; and
      expected lives of between 1 to 5 years. The value of the warrants and beneficial
      conversion feature have been expensed during the quarter ended March 31, 2008,
      as they vested immediately.


-
          19
          -


On
      November 29, 2007, the Company entered into a Note and Warrant Purchase
      Agreement with Vision Opportunity Master Fund, Ltd. (“Purchaser”) with respect
      to the sale of notes in an aggregate principal amount of up to $6,000,000.
      Also
      on November 29, 2007, the Company entered into Amendment No. 1 to the Note
      Purchase Agreement. Under the Note Purchase Agreement, as amended, the Company
      executed and delivered to Vision Opportunity Master Fund, Ltd. (a) the Company’s
      $2,500,000 principal amount, senior secured 10% convertible promissory note,
      (b)
      the Company’s $600,000 principal amount, senior secured 10% convertible
      promissory note and, (c) one warrant to purchase an aggregate of 7,300,000
      shares of the Company’s common stock, and (d) one warrant to purchase an
      aggregate of 1,000,000 shares of the Company’s common stock. The Note Purchase
      Agreement, as amended, contemplates two other tranches, the closing with respect
      to such tranches scheduled to take place in March and June 2008. At each such
      subsequent closing, the Company would issue an additional promissory note to
      the
      Purchaser in the principal amount of $1,450,000. Each such subsequent closing
      is
      subject to the Company complying with certain covenants and meeting certain
      conditions under the Note Purchase Agreement, as amended.




In
      connection with the issuance of the warrants and beneficial conversion feature,
      the Company has reflected a value at the date of issuance for the warrants
      of
      $1,578,452 and a beneficial conversion feature value of $250,596. The fair
      value
      of the warrant grant was estimated on the date of the grant using the
      Black-Scholes option-pricing model with the following weighted average
      assumptions: expected volatility of 15%, risk free interest rate of 6%; and
      expected lives of between 1 to 5 years. The value of the warrants have been
      expensed during the quarter ended December 31, 2007, as they vested immediately.
      The beneficial conversion feature is being amortized over the term of the note.





The
      Notes
      accrue interest at 10% per annum from the date of issuance, and are payable,
      at
      the Company’s option, in cash or shares of its common stock, quarterly in
      arrears commencing on **** December
      31, 2007. The maturity date of the Notes is thirty-six months from the issuance
      date. The Note contains various events of default such as failing to make a
      payment of principal or interest when due, which if not cured, would require
      the
      Company to repay the holder immediately the outstanding principal sum of and
      any
      accrued interest on the Notes. Each Note requires the Company to prepay under
      the Note if certain “Triggering Events” or “Major Transactions” occur while the
      Note is outstanding. The holders of the Notes are entitled to convert the Notes
      into shares of the Company’s common stock at any time based on the fixed
      conversion price of $0.75 per share.





On
      March
      7, 2008, the Company closed the second tranche under the Note and Purchase
      Agreement. The Company issued an additional promissory note to the Purchaser
      in
      the principal amount of $1,450,000. In connection with this second tranche
      the
      Company has recorded a beneficial conversion feature of $46,774 and is being
      amortized over the term of the note.





Cash
      flows used from operations totaled $443,113 for the three months ended March
      31,
      2008, compared to $2,715,651 for the three months ended March 31, 2007. The
      increase in cash flow from operations is predominantly due to an increase in
      accounts payable offset by an increase in accounts receivable.





Cash
      flows used by investing activities was $140,475 for the three months ended
      March
      31, 2008 compared to cash flows provided by investing activities of $1,933,821
      for the three months ended March 31, 2007. The decrease in cash flows from
      investing activities is due to an investment in fixed assets and the reporting
      of the acquisition of AGN.


-
          20
          -


Cash
      flows from financing activities increased to $1,402,582 for the three months
      ended March 31, 2008 compared cash flows provided by financing activities of
      $662,466 for the three months ended March 31, 2007. The increase was
      predominantly due to proceeds from convertible notes.




The
      Company has two letters of credit outstanding with the same lender for a total
      of $41,394, both letters of credit expire during 2008.





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. During August 2007, the holder of the notes converted both notes and
      all
      accrued interest into 326,450 shares of 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.





**Item
              3.**
            **Quantitative
                and Qualitative Disclosures about Market
                Risk**





Not
      applicable.





**Item
      4 and Item 4T. Controls and Procedures**




**Evaluation
      of Disclosure Controls and Procedures**




We
      carried out an evaluation of the effectiveness of the design and operation
      of
      our disclosure controls and procedures (as defined in Exchange Act Rules
      13a-15(e) and 15d-15(e)) as of December 31, 2007. This evaluation was carried
      out under the supervision and with the participation of our Chief Executive
      Officer, Mr. Anthony M. Servidio and Chief Financial Officer, Mr. Anthony
      Fernandez. Based upon that evaluation, our Chief Executive Officer and Chief
      Financial Officer concluded that, as of December 31, 2007, our disclosure
      controls and procedures are effective. There have been no significant changes
      in
      our internal controls over financial reporting during the quarter ended December
      31, 2007 that have materially affected or are reasonably likely to materially
      affect such controls.




Disclosure
        controls and procedures are controls and other procedures that are designed
        to
        ensure that information required to be disclosed in our reports filed or
        submitted under the Exchange Act are recorded, processed, summarized and
        reported, within the time periods specified in the SEC's rules and forms.
        Disclosure controls and procedures include, without limitation, controls
        and
        procedures designed to ensure that information required to be disclosed in
        our
        reports filed under the Exchange Act is accumulated and communicated to
        management, including our Chief Executive Officer and Chief Financial Officer,
        to allow timely decisions regarding required disclosure.


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Limitations
      on the Effectiveness of Internal Controls




Our
      management does not expect that our disclosure controls and procedures or our
      internal control over financial reporting will necessarily prevent all fraud
      and
      material error. Our disclosure controls and procedures are designed to provide
      reasonable assurance of achieving our objectives and our Chief Executive Officer
      and Chief Financial Officer concluded that our disclosure controls and
      procedures are effective at that reasonable assurance level. Further, the design
      of a control system must reflect the fact that there are resource constraints,
      and the benefits of controls must be considered relative to their costs. Because
      of the inherent limitations in all control systems, no evaluation of controls
      can provide absolute assurance that all control issues and instances of fraud,
      if any, within the Company have been detected. These inherent limitations
      include the realities that judgments in decision-making can be faulty, and
      that
      breakdowns can occur because of simple error or mistake. Additionally, controls
      can be circumvented by the individual acts of some persons, by collusion of
      two
      or more people, or by management override of the internal control. The design
      of
      any system of controls also is based in part upon certain assumptions about
      the
      likelihood of future events, and there can be no assurance that any design
      will
      succeed in achieving its stated goals under all potential future conditions.
      Over time, control may become inadequate because of changes in conditions,
      or
      the degree of compliance with the policies or procedures may
      deteriorate.




This
      annual report does not include an attestation report of the company’s registered
      public accounting firm regarding internal control over financial reporting.
      Management’s report was not subject to attestation by the company’s registered
      public accounting firm pursuant to temporary rule of the Securities and Exchange
      Commission that permit the company to provide only management’s report in this
      annual report.


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          22
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**PART
      II-OTHER INFORMATION**




**Item
              1.**
            **Legal
                Proceedings**





None.





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





None.




**Item
              3.**
            **Defaults
                Upon Senior Securities**




None.




**Item
              4.**
            **Submission
                of Matters to Vote of Security
                Holders.**




None.




**Item
              5.**
            **Other
                Information**




None.


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**Item
              6.**
            **Exhibits**





31.1
            
            Certification
                by Chief Executive Officer pursuant to Rule 13a-1431.2
            
            Certification
                by Chief Financial Officer pursuant to Rule 13a-1432.1
            
            Certification
                by Chief Executive Officer pursuant to Section 906 of the
                Sarbanes-Oxley Act of 2002.32.2
            
            Certification
                by Chief Executive Officer pursuant to Section 906 of the
                Sarbanes-Oxley Act of 2002.




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**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:
                May 14, 2008
            /s/
                Anthony M. ServidioAnthony
                M. Servidio
              Chief
                Executive Officer and Chairman
              (Principal
                Executive Officer)Date:
                May 14, 2008
            /s/
                Anthony FernandezAnthony
                Fernandez
              Chief
                Financial Officer
              (Principal
                Financial and Accounting Officer)




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