**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: June 30, 2008 |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                |                                                                                                                                                                                  |
| o                   | **Transition                Report under Section 13 or 15(d) of the Exchange Act of                1934**                                                                             |
|                |                                                                                                                                                                                  |
|                | For the              transition              period from ________ to _________                                                                                                        |
|                |                                                                                                                                                                                  |
|                | Commission                File Number: 000-52712                                                                                                                                      |

**PEER      REVIEW MEDIATION AND ARBITRATION**
**INC.      **

| **FLORIDA**                                     |   | **65-1126951**                           |
|------------------------------------------------------|--------|------------------------------------------|
| (State                or other Jurisdiction of  |   | (IRS                Employer        |
| Incorporation                or Organization)   |   | Identification                No.)  |

**1450      S. Dixie Highway, Ste. 201**

**Boca      Raton, Florida 33432**

**(561)      347-1178**

**Copies      to:**

The      number of shares of the issuer's common stock outstanding as of August      11, 2008: . 8,264,126

----

**TABLE      OF CONTENTS**

| **Heading**                 |   |                                                                                                                      |   | **Page** |
|-----------------------------|--------|---------------------------------------------------------------------------------------------------------------------------|--------|----------|
|                        |   | **PART                  I**—**FINANCIAL                  INFORMATION******                                          |   |     |
|                        |   |                                                                                                                      |   |     |
| Item                  1.    |   | Financial                  Statements                                                                                     |   | 3        |
|                        |   |                                                                                                                      |   |     |
| Item                  2.    |   | Management's                  Discussion and Analysis of Financial Condition and Results of                    Operations |   | 12       |
|                        |   |                                                                                                                           |   |          |
| Item                  3.    |   | Quantitative                  and Qualitative Disclosures About Market Risk                                               |   | 16       |
|                        |   |                                                                                                                      |   |     |
| Item                  4(T). |   | Controls                  and Procedures                                                                                  |   | 16       |
|                        |   |                                                                                                                      |   |     |
|                        |   | **PART                  II**—**OTHER                  INFORMATION******                                             |   |     |
|                        |   |                                                                                                                      |   |     |
| Item                  1.    |   | Legal                  Proceedings                                                                                        |   | 16       |
|                        |   |                                                                                                                      |   |     |
| Item                  1A.   |   | Risk                  Factors                                                                                             |   |          |
|                        |   |                                                                                                                      |   |     |
| Item                  2     |   | Unregistered                  Sales of Equity Securities and Use of Proceeds                                              |   | 17       |
|                        |   |                                                                                                                      |   |     |
| Item                  3.    |   | Defaults                  Upon Senior Securities                                                                          |   | 17       |
|                        |   |                                                                                                                      |   |     |
| Item                  4.    |   | Submission                  of Matters to a Vote of Securities Holders                                                    |   | 17       |
|                        |   |                                                                                                                      |   |     |
| Item                  5.    |   | Other                  Information                                                                                        |   | 17       |
|                        |   |                                                                                                                      |   |     |
| Item                  6.    |   | Exhibits                                                                                                                  |   | 18       |
|                        |   |                                                                                                                      |   |     |
|                        |   | Signatures                                                                                                                |   | 19       |

----

**Item      1. Financial Statements. **

**PEER      REVIEW MEDIATION AND ARBITRATION, INC.**

**CONSOLIDATED      FINANCIAL STATEMENTS**

**(Unaudited)**

**Quarter      Ended June 30, 2008**

----

**PEER        REVIEW MEDIATION AND ARBITRATION, INC.**

**Consolidated        Financial Statements**

**(Unaudited)**

**TABLE        OF CONTENTS**

|                                                                                                         | Page   |
|--------------------------------------------------------------------------------------------------------------|--------|
| FINANCIAL                  STATEMENTS                                                    |   |
|                                                                                                         |   |
| Consolidated                  balance sheet                | 5      |
| Consolidated                  statements of operation           | 6      |
| Consolidated                  statements of cash flows          | 7      |
| Notes                  to consolidated financial statements               | 9      |

----

| **PEER                  REVIEW MEDIATION AND ARBITRATION, INC.** |
|------------------------------------------------------------------|
| **CONSOLIDATED                  BALANCE SHEET**                  |
| **(Unaudited)**                                                  |

|                                                                                                                                                                             |   | **June                    30,** |       |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|------------|
|                                                                                                                                                                             |   | **2008**                        |       |
| **ASSETS**                                                                                                                                                                       |   |                            |       |
|                                                                                                                                                                             |   |                            |       |
| **Current                    assets**                                                                                                                                            |   |                            |       |
| Cash                                                                                                                                                                             |   | $                               | 93,725     |   |
| Accounts                    receivable                                                                                                                                           |   |                            | 3,052      |   |
| Marketable                    securities                                                                                                                                         |   |                            | 2,270      |   |
|  **Total                    current assets**                                                                                                                                |   |                            | 99,047     |   |
|                                                                                                                                                                             |   |                            |       |   |
| Fixed                    assets                                                                                                                                                  |   |                            | 65,621     |   |
| Less                    accumulated depreciation                                                                                                                                 |   |                            | (49,006    | ) |
| Other                    assets                                                                                                                                                  |   |                            | 500        |   |
|                                                                                                                                                                             |   |                            | 17,115     |   |
|                                                                                                                                                                             |   |                            |       |   |
| **Total                    Assets**                                                                                                                                              |   | $                               | 116,162    |   |
|                                                                                                                                                                             |   |                            |       |   |
| **LIABILITIES                    AND STOCKHOLDERS' EQUITY**                                                                                                                      |   |                            |       |   |
| **Current                    liabilities**                                                                                                                                       |   |                            |       |   |
| ** **Accrued                    payables                                                                                                                                    |   | $                               | 96,894     |   |
| Related                    party payables                                                                                                                                        |   |                            | 1,774,263  |   |
| Notes                    payable - current portion                                                                                                                               |   |                            | 13,454     |   |
| Related                    party loans                                                                                                                                           |   |                            | 880,941    |   |
|  **Total                    current liabilties**                                                                                                                            |   |                            | 2,765,552  |   |
|                                                                                                                                                                             |   |                            |       |   |
| **Total                    Liabilities**                                                                                                                                         |   |                            | 2,765,552  |   |
|                                                                                                                                                                             |   |                            |       |   |
| **Stockholders'                    Equity**                                                                                                                                      |   |                            |       |   |
| Preferred                    stock, Series II, $.001 par value; 1,000,000                    shares authorized; convertible; 1,000,000                    issued and outstanding |   |                            | 1,000      |   |
| Common                    stock, $.001 par value; 45,000,000 shares authorized; 8,264,126                    shares issued                    and outstanding               |   |                            | 8,265      |   |
| Additional                    paid in capital                                                                                                                                    |   |                            | 6,985,081  |   |
| Accumulated                    deficit                                                                                                                                           |   |                            | (9,631,106 | ) |
| Accumulated                    other comprehensive income (loss)                                                                                                                 |   |                            | (12,630    | ) |
| **Total                    Stockholders' Equity**                                                                                                                                |   |                            | (2,649,390 | ) |
|                                                                                                                                                                             |   |                            |       |   |
| **Total                    Liabilities and Stockholders' Equity**                                                                                                                |   | $                               | 116,162    |   |

----

| **PEER                    REVIEW MEDIATION AND ARBITRATION, INC.**                                   |
|------------------------------------------------------------------------------------------------------|
| **CONSOLIDATED                    STATEMENTS OF INCOME AND COMPREHENSIVE                    INCOME** |

|                                                                                                        |   | **Three                    Months**  |      | **Three                    Months**  |   | **Six                    Months**    |   | **Six                    Months**    |      |
|-------------------------------------------------------------------------------------------------------------|--------|--------------------------------------|-----------|--------------------------------------|--------|--------------------------------------|--------|--------------------------------------|-----------|
|                                                                                                        |   | **Ended**                            |      | **Ended**                            |   | **Ended**                            |   | **Ended**                            |      |
|                                                                                                        |   | **June                    30, 2007** |      | **June                    30, 2008** |   | **June                    30, 2007** |   | **June                    30, 2008** |      |
|                                                                                                        |   | **(Unaudited)**                      |      | **(Unaudited)**                      |   | **(Unaudited)**                      |   | **(Unaudited)**                      |      |
| Revenue                                                                                                     |   | $                                    | 32,653    |                                 | $      | 15,030                               |   | $                                    | 80,156    |   | $ | 32,515 |   |
| Cost                    of sales                                                                            |   |                                 | 24,120    |                                 |   | 5,675                                |   |                                 | 52,105    |   |   | 11,710 |   |
|                                                                                                        |   |                                 | 8,533     |                                 |   | 9,355                                |   |                                 | 28,051    |   |   | 20,805 |   |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Expenses:                                                                                                   |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Depreciation                                                                                                |   |                                 | 3,239     |                                 |   | 2,625                                |   |                                 | 6,244     |   |   | 5,263 |   |
| Selling,                    general and administrative                                                      |   |                                 | 273,368   |                                 |   | 340,879                              |   |                                 | 734,499   |   |   | 854,448 |   |
|                                                                                                        |   |                                 | 276,607   |                                 |   | 343,504                              |   |                                 | 740,743   |   |   | 859,711 |   |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Loss                    from operations                                                                     |   |                                 | (268,074  | )                                    |   | (334,149                             | )      |                                 | (712,692  | ) |   | (838,906 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Other                    income (expense)                                                                   |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Interest                    income                                                                          |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Interest                    (expense)                                                                       |   |                                 | (508      | )                                    |   | (302                                 | )      |                                 | (1,268    | ) |   | (796 | ) |
| Realized                    gain (loss) on securities                                                       |   |                                 | 9,701     |                                 |   | -                                    |   |                                 | 5,724     |   |   | - |   |
|                                                                                                        |   |                                 | 9,193     |                                 |   | (302                                 | )      |                                 | 4,456     |   |   | (796 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Income                    (loss) before provision                                                           |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| for                    income taxes                                                                         |   |                                 | (258,881  | )                                    |   | (334,451                             | )      |                                 | (708,236  | ) |   | (839,702 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Provision                    for income tax                                                                 |   |                                 | -         |                                 |   | -                                    |   |                                 | -         |   |   | - |   |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| **Net                    income (loss)**                                                                    |   | $                                    | (258,881  | )                                    | $      | (334,451                             | )      | $                                    | (708,236  | ) | $ | (839,702 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| **Other                    comprehensive income (loss) -****net                    of tax**                 |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Unrealized                    gain (loss) on securities                                                     |   |                                 | 18,454    |                                 |   | 293                                  |   |                                 | 22,251    |   |   | (1,362 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| **Comprehensive                    income (loss)**                                                          |   | $                                    | (240,427  | )                                    | $      | (334,158                             | )      | $                                    | (685,985  | ) | $ | (841,064 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| **Net                    income (loss) per share**                                                          |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| (Basic                    and fully diluted)                                                                |   | $                                    | (0.03     | )                                    | $      | (0.04                                | )      | $                                    | (0.09     | ) | $ | (0.10 | ) |
|                                                                                                        |   |                                 |      |                                 |   |                                 |   |                                 |      |   |   |   |   |
| Weighted                          average number of common shares                          outstanding |   |                                 | 8,065,340 |                                 |   | 8,206,376                            |   |                                 | 8,054,409 |   |   | 8,169,876 |   |

----

| **PEER                    REVIEW MEDIATION AND ARBITRATION, INC.**              |
|---------------------------------------------------------------------------------|
| **CONSOLIDATED                    STATEMENTS OF CASH                    FLOWS** |

|                                                                                                                                                       |   | **Six                    Months**    |     | **Six                    Months**    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------|----------|--------------------------------------|--------|
|                                                                                                                                                       |   | **Ended**                            |     | **Ended**                            |   |
|                                                                                                                                                       |   | **June                    30, 2007** |     | **June                    30, 2008** |   |
|                                                                                                                                                       |   | **(Unaudited)**                      |     | **(Unaudited)**                      |   |
| **Cash                    Flows From Operating Activities:**                                                                                               |   |                                 |     |                                 |   |
| Net                    income (loss)                                                                                                                       |   | $                                    | (708,236 | )                                    | $      | (839,702 | ) |
|                                                                                                                                                       |   |                                 |     |                                 |   |   |   |
| Adjustments                    to reconcile net income to net                    cash provided by (used for) operating                    activities: |   |                                 |     |                                 |   |   |   |
| Depreciation                                                                                                                                               |   |                                 | 6,244    |                                 |   | 5,263 |   |
| Accounts                    receivable                                                                                                                     |   |                                 | (853     | )                                    |   | (3,052 | ) |
| Other                    assets                                                                                                                            |   |                                 | (500     | )                                    |   |   |   |
| Accrued                    payables                                                                                                                        |   |                                 | (7,599   | )                                    |   | 22,635 |   |
| Due                    to related parties                                                                                                                  |   |                                 | 196,268  |                                 |   | 145,148 |   |
| Compensatory                    equity issuances                                                                                                           |   |                                 | 18,000   |                                 |   | 187,450 |   |
| Realized                    (gain) loss on sale of securities                                                                                              |   |                                 | (5,724   | )                                    |   |   |   |
| **Net                    cash provided by (used for)****operating                    activities**                                                          |   |                                 | (502,400 | )                                    |   | (482,258 | ) |
|                                                                                                                                                       |   |                                 |     |                                 |   |   |   |
| **Cash                    Flows From Investing Activities:**                                                                                               |   |                                 |     |                                 |   |   |   |
| Fixed                    assets                                                                                                                            |   |                                 | (7,027   | )                                    |   |   |   |
| Sales                    of marketable securities                                                                                                          |   |                                 | 83,589   |                                 |   |   |   |
| **Net                      cash provided by (used for)****investing                      activities**                                                      |   |                                 | 76,562   |                                 |   | - |   |

----

**PEER              REVIEW MEDIATION AND ARBITRATION, INC.**

**CONSOLIDATED              STATEMENTS OF CASH FLOWS**

|                                                                         |   | **Six                      Months**    |     | **Six                      Months**    |   |
|------------------------------------------------------------------------------|--------|----------------------------------------|----------|----------------------------------------|--------|
|                                                                         |   | **Ended**                              |     | **Ended**                              |   |
|                                                                         |   | **June                      30, 2007** |     | **June                      30, 2008** |   |
|                                                                         |   | **(Unaudited)**                        |     | **(Unaudited)**                        |   |
| **Cash                      Flows From Financing Activities:**               |   |                                   |     |                                   |   |
| Notes                      payable - borrowings                              |   |                                   |     |                                   |   |
| Notes                      payable - payments                                |   |                                   |     |                                   |   | (6,823 | ) |
| Related                      party loans                                     |   |                                   |     |                                   |   | (45,500 | ) |
| Sales                      of common stock                                   |   |                                   | 198,618  |                                   |   | 425,250 |   |
| Sales                      of options                                        |   |                                   | 2,008    |                                   |   | 4,800 |   |
|  **Net                      cash provided by (used for)**               |   |                                   |     |                                   |   |   |   |
|  **financing                      activities**                          |   |                                   | 200,626  |                                   |   | 377,727 |   |
|                                                                         |   |                                   |     |                                   |   |   |   |
| **Net                      Increase (Decrease) In Cash**                     |   |                                   | (225,212 | )                                      |   | (104,531 | ) |
| **Cash                      At The Beginning Of The Period**                 |   |                                   | 288,568  |                                   |   | 198,256 |   |
|                                                                         |   |                                   |     |                                   |   |   |   |
| **Cash                      At The End Of The Period**                       |   | $                                      | 63,356   |                                   | $      | 93,725 |   |
|                                                                         |   |                                   |     |                                   |   |   |   |
| Schedule                      of Non-Cash Investing and Financing Activities |   |                                   |     |                                   |   |   |   |
|                                                                         |   |                                   |     |                                   |   |   |   |
| None                                                                         |   |                                   |     |                                   |   |   |   |
|                                                                         |   |                                   |     |                                   |   |   |   |
| Supplemental                      Disclosure                                 |   |                                   |     |                                   |   |   |   |
|                                                                         |   |                                   |     |                                   |   |   |   |
| Cash                      paid for interest                                  |   | $                                      | 750      |                                   | $      | 796 |   |
| Cash                      paid for income taxes                              |   | $                                      | -        |                                   | $      | - |   |

----

**PEER              REVIEW MEDIATION AND ARBITRATION, INC.**

**NOTES        TO CONSOLIDATED**
** **
**FINANCIAL        STATEMENTS**

**(Unaudited)**

**NOTE        1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING        POLICIES:**

----

**PEER        REVIEW MEDIATION AND ARBITRATION, INC.**

**NOTES        TO CONSOLIDATED**
** **
**FINANCIAL        STATEMENTS**

**(Unaudited)**

**NOTE        1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING        POLICIES:**

----

**PEER        REVIEW MEDIATION AND ARBITRATION, INC.**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**NOTE        1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        (Continued):**

----

**ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS**

***Overview      and Corporate History***

**Business      Plan**

----

**Results      of Operations**

**Second      Quarter Results of Operations for 2008 Compared with 2007**

**SALES.      **

**.**
** **

**COST      OF SALES**

**OPERATING      EXPENSES**

**GROSS      PROFIT (LOSS) **

**RESEARCH      AND DEVELOPMENT EXPENSE **

**DEPRECIATION      AND AMORTIZATION **

----

**OTHER      INCOME (LOSS)**

**INCOME      TAX **

**NET      LOSS**
*.      *

**Year      to Date Results of Operations for 2008 Compared with 2007 **

**SALES.      **

**.**
** **

**COST      OF SALES**

**GROSS      PROFIT (LOSS) **

**OPERATING      EXPENSES**

----

**RESEARCH      AND DEVELOPMENT EXPENSE **

**OTHER      INCOME (LOSS)**

**INTEREST**

**INCOME      TAX **

**NET      LOSS**
*.      *

**STOCK-BASED      COMPENSATION **

**FINANCIAL      CONDITION **

**Liquidity      and Capital Resources**

----

**Off-Balance      Sheet Arrangements**

**ITEM      3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET      RISK**

**ITEM      4. CONTROLS AND PROCEDURES **

**Management’s      Report on Internal Control over Financial Reporting**

*Internal      Control-Integrated Framework*

**Changes      in Internal Control over Financial Reporting**

**PART      II   OTHER INFORMATION**

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

----

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

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

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

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

**Forward-looking        statements can be identified by the fact that they do not relate strictly        to        historical or current facts. They use words such as “anticipate,” “estimate,”“expect,” “project,” “intend,” “plan,” “believe” or words of similar meaning.        They may also use words such as, “would,” “should,” “could” or “may”.        Forward-looking statements express our expectations or predictions of future        events or results. They are not guarantees and are subject to many risks        and        uncertainties. There are a number of factors - many beyond our control -        that        could cause actual events or results to be significantly different from those        described in the forward-looking statement. Any or all of our forward-looking        statements in this filing may turn out to be        wrong.**

----

**Item      6.    Exhibits**

| (a)    | 31.1   | CEO                Certification pursuant to section 302 of the Sarbanes-Oxley Act of                2002. |
|--------|--------|------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                       |
|   | 32.1   | Certification                pursuant to Section 906 of the Sarbanes-Oxley Act of                2002.     |
|   |   |                                                                                                       |
|   | 99.1   | Letter                of Intent to acquire Mediation Training Institute                International       |
|   |   |                                                                                                       |
|   | 99.2   | Letter                of Intent to acquire Amerimed Corporation                                            |
|   |   |                                                                                                       |
|   | 99.3   | Letter                of Intent to acquire Advance Filing Systems, Inc                                     |
|   |   |                                                                                                       |
|   | 99.4   | Letter                of Intent to acquire Max Systems, Inc.                                               |

----

**SIGNATURES**

|                                 |                                   |                                            |
|--------------------------------------|----------------------------------------|-------------------------------------------------|
| Date:                August 11, 2008 | By                           | /s/                *Willis                Hale* |
|                                 | Willis                Hale             |
|                                 | Chief                Executive Officer |

----