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**UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549**___________________**FORM 10-QSB/A**_______________________

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

  

For the quarterly period ended March 31, 2007

  

or

  

** ̈                                TRANSITION REPORTPURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

  

For the transition period from               to

  

Commission file number 0-52493

  

**VERACITYMANAGEMENT GLOBAL, INC.**(Exact Name Of RegistrantAs Specified In Its Charter)
| Delaware                                          | 43-1889792                              |
|---------------------------------------------------|-----------------------------------------|
| (State of Incorporation)                          | (I.R.S. Employer    Identification No.) |
|                                              |                                    |
| 2655    LeJeune Road, Suite 311, Coral Gables, FL | 33134                                   |
| (Address of Principal    Executive Offices)       | (ZIP Code)                              |

Registrant's Telephone Number, Including Area Code: (305)728-1359

Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days. Yes x No  ̈

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

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, or anon-accelerated filer.
| Large accelerated    filer  ̈ | Accelerated filer  ̈  | Non-accelerated    filer x |
|----------------------------------|-------------------------------|--------------------------------|

On May 29, 2007,the Registrant had 2,677,477,672 shares of common stock issued and outstanding.

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TABLE OF CONTENTS
| Item                               |                          | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    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| **PART I - FINANCIAL INFORMATION** |
|                               |
| ITEM 1.                            |      |   FINANCIAL    STATEMENTS.
    3  
ITEM 2.
    
  MANAGEMENT'S    DISCUSSION AND ANALYSIS AND RESULTS OF OPERATION.
    3   ITEM 3.  CONTROLS AND PROCEDURES4  
**PART II - OTHER    INFORMATION**
  
ITEM 1.
    
  LEGAL PROCEEDINGS.
    4  
ITEM 2.
    
  RECENT SALES OF UNREGISTERED    EQUITY SECURITIES AND USE OF PROCEEDS
    4   
ITEM 3.
    
  DEFAULT UPON    SENIOR SECURITIES.
    4   
ITEM 4.
    
  SUBMISSION OF    MATERS TO A VOTE OF SECURITY HOLDERS.
    4   
ITEM 5.
    
  OTHER INFORMATION.
    4   ITEM 6.  EXHIBITS4
 
****
**PART I - FINANCIAL INFORMATION**

ITEM1. FINANCIAL STATEMENTS****Backto Table of Contents

The Registrant's unaudited interim financial statementsare attached hereto. Unaudited InterimFinancial Statements

ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONBack to Table of Contents

Some of the statements contained in this quarterlyreport of Veracity Management Global, Inc., a Delaware corporation (hereinafter referred to as "we", "us", "our","Company" and the "Registrant") discuss futureexpectations, contain projections of our plan of operation or financial condition or stateother forward-looking information. Forward-looking statements give our currentexpectations or forecasts of future events. You can identify these statements by the factthat they do not relate strictly to historical or current facts. They use of words such as"anticipate," "estimate," "expect," "project,""intend," "plan," "believe," and other words and terms ofsimilar meaning in connection with any discussion of future operating or financialperformance. From time to time, we also may provide forward-looking statements in othermaterials we release to the public.
***General

The Registrant acquired its operating subsidiaries Veracity ManagementGroup, a Florida corporation ("VMG") and Secured Financial Data Inc., a Floridacorporation ("SFD") effective on July 1, 2006. Prior to the acquisition of itsoperating subsidiaries, during the period from May 2002 until the acquisition of itsoperating subsidiaries on July 1, 2006, the Registrant had only limited businessoperations. In January 2005 the Registrant intended to develop an internet basedbroadcast channel and in June 2005 the Registrant entered into a licensing and advertisingagreement with Yadio, Inc., an Internet technology and marketing firm, to operate theRegistrant's Internet broadcast website. The Registrant's objective was  to generaterevenues from its broadcast channel. However, the Registrant was not successful in raisingfunding necessary for this project and failed to generate any revenues. It ceased itsbusiness activities in the third quarter of 2005. As a result, the financial statements ofthe Registrant for the periods ended March 31, 2007 and 2006 are not comparable.

The Registrant generates revenues from its present operations based onhourly rates and fixed rates. Our fixed-rate contracts involve an engagement retainer andtypically provide for monthly fees. Our hourly-rate contracts are billed monthly.
***Results of Operations For the Three Months Ended March 31, 2007Compared to Three Months Ended March 31, 2006

The following is derived from, and should be read in conjunction with,our unaudited consolidated financial statements, and related notes, as of and for thethree months ended March 31, 2007 and 2006.
*Revenues. We generated revenues to $411,582 for the three monthsended March 31, 2007 as compared to no revenues during the same period in the prior year.For the nine-month period ended March 31, 2007, we had revenues of $1,063,838.
*Cost of Services. Cost of services for the three-month period endedMarch 31, 2007 were $102,765 and $366,254 for the nine months ended March 31, 2007. Ourcost of services consist mainly of labor costs.
*General expenses. General expenses were $446,053 and $2,411,596 forthe three and nine months ended March 31, 2007. We had non-cash compensation expensesrelated to administrative services, sales, marketing, contract analysis, technical andsales services and IT consulting services of $270,283 for the three months ended March 31,2007 and $1,616,187 for the nine months ended March 31, 2007. The Company expects to issueshares of common stock from time to time in lieu of cash for services provided to theCompany until the Company generates sufficient positive cash flow from operations.
*Net Loss. We incurred a net loss of $267,159 and $1,983,035 for thethree and nine-month periods ended March 31, 2007.
**Liquidity and Capital Resources

At March 31, 2007, we had current assets of $236,225 consisting ofmainly of cash and accounts receivable. At March 31, 2007, we had total assets of$244,033. We had total current liabilities at March 31, 2007 of $307,748. Our currentliabilities principally include $95,166 in accounts payable and accrued expenses, $18,082in accrued interest and $82,965 of a loan payable to a stockholder.

We had negative working capital of $71,523 at March 31, 2007. Net cashused in operations during the nine-month period ended March 31, 2007 was $546,337. Ournegative cash flow from operations was mainly due to our net loss of $1,983,035, anincrease in accounts receivable of $262,536, principally offset by an increase in accountspayable of $50,294, accrued interest of $12,711 and non-cash compensation totaling$1,616,187.

The Company's financing activities consist mainly of the issuance ofdebt and equity instruments. During the nine-month period ended March 31, 2007, theCompany's financing activities provided $429,000. The Company raised $50,000 during thenine-month period ended March 31, 2007 through the issuance of notes and $419,000 throughthe issuance of restricted stock. The Company made payments of $40,000 during thenine-month period ended March 31, 2007.

We believe that despite funding provided under our bank line-of-creditand funding available from our management, we may need additional funding to execute ourplanned expansion of our sales and marketing efforts. We have no written fundingcommitment from management and affiliated parties.

There are no limitations in the Company's articles of incorporation onthe Company's ability to borrow funds or raise funds through the issuance of restrictedcommon stock. The Company's believes that it has the ability to borrow funds and/or raisecapital through the sale of restricted stock. To the extent that additional debt financingis utilized, any borrowing will subject us to various risks traditionally associated withindebtedness, including the risks of interest rate fluctuations and insufficiency of cashflow to pay principal and interest.
*Plan of Current and Future Financing of Our Operations for the year2007

During the nine-month period ended March 31, 2007, the Company had aloss from operations of $1,828,185, which was primarily due to non-cash compensation of$1,616,187 represented by stock issued for consulting services. At March 31, 2007 theCompany had cash of $14,993. We had an accumulated deficit of $3,813,169 at March 31,2007. We have incurred negative cash flow from operations during the nine-month periodended March 31, 2007.

The Company principally funded its negative cash flow from operationsduring the nine-month period ended March 31, 2007 through the sale of restricted stockwhich generated proceeds of $419,000 and through the issuance of notes totaling $50,000.

We have financed our operations primarily through related party debtfinancing and equity raising. Our continued operations will depend on whether we are ableto continue to raise additional funds through various potential sources, such as equityand debt financing, including the sale of additional equity and receipt of additional debtfinancing. We do not have any agreements with our management to continue to loan monies tothe Company. Additional funds may not become available on acceptable terms and there canbe no assurance that any additional funding that we do obtain will be sufficient to meetour needs during the next twelve months or in the long term. 

We have spent, and expect to continue to spend, additional amounts inconnection with implementing our business strategy. Based on our current plans, we believethat our cash together with anticipated increased revenues and improved ability as apublic company to raise funds, will be sufficient to enable us to meet our plannedoperating needs at least for the next 12 months. However, the actual amount of funds wewill need to operate is subject to many factors, some of which are beyond our control.These factors may vary from time to time. 

We have based our estimate on assumptions that may prove to be wrong.We may need to obtain additional funds sooner or in greater amounts than we currentlyanticipate. Potential sources of financing include strategic relationships, public orprivate sales of our shares or debt and other sources. We may seek to access the public orprivate equity markets when conditions are favorable due to our long-term capitalrequirements. We may need committed sources of financing at this time, and it is uncertainwhether additional funding will be available when we need it on terms that will beacceptable to us, or at all. If we raise funds by selling additional shares of commonstock or other securities convertible into common stock, the ownership interest of ourexisting stockholders will be diluted. If we are not able to obtain additional financing,we may be unable to carry out our business plan. As a result, we may have to significantlylimit our operations and our business, financial condition and results of operations wouldbe materially harmed.

ITEM 3.CONTROLS AND PROCEDURES****Backto Table of Contents
*Evaluation of disclosure controls and procedures. As of March 31,2007, the Company's chief executive officer and chief financial officer conducted anevaluation regarding the effectiveness of the Company's disclosure controls and procedures(as defined in Rules 13a-15(e) or 15d-15(e) under the  Exchange Act. Based upon theevaluation of these controls and procedures, our chief executive officer and chieffinancial officer concluded that our disclosure controls and procedures were not effectiveas of the end of the period covered by this report. This conclusion is based upon thenumber and magnitude of the year end adjusting entries and additional financial reportingdisclosures identified by the Company’s independent accountants.

*Changes in internal controls*.There were no significant changes in our internal control over financial reporting (asdefined in Rules 13a-15(f) and 15d-15(f) under the 1934 Act) during the period ended March31, 2007, that have materially affected or are reasonably likely to materially affect, ourinternal control over financial reporting.

**PART II - OTHER INFORMATION**

ITEM 1. LEGALPROCEEDINGS****Back to Table ofContents

None.

ITEM 2.RECENT SALES OF UNREGISTERED EQUITY SECURITIES AND USE OF PROCEEDSBack to Table of Contents

The following information is given with regard tounregistered securities sold by the Company during the the three-month period ended March31, 2007, including the dates and amounts of securities sold; the persons or class ofpersons to whom we sold the securities; the consideration received in connection with suchsales and if the securities were issued or sold other than for cash, the description ofthe transaction and the type and amount of consideration received.
**Date**
**Title**
**Shares    Issued**
**Persons****Cash or Non Cash Consideration**2/07/07Common1,533,000Lynn SchaeferPrivate unit sale at $0.0068 per unit pursuant to Section 4(2)    (a)2/08/07Common7,300,000Jason PetfordPrivate unit sale at $0.0068 per unit pursuant to Section 4(2)    (a)2/08/07Common1,460,000Tim DavidsonPrivate unit sale at $0.0068 per unit pursuant to Section 4(2)    (a)2/28/07Common3,650,000Michael G. OrnitPrivate sale at $0.0068 per share pursuant to Section 4(2) (a)2/28/07Common730,000Michael OrryPrivate sale at $0.0068 per share pursuant to Section 4(2) (a)3/31/07Common1,766,500Richard Grassano, CFOServices as officer valued at $17,666 issued pursuant to Section    4(2)3/31/07Common441,650Ted & Harriet PioquintoServices valued at $4,416 issued pursuant to Section 4(2) (b)3/31/07Common5,475,000Maikel MarreroServices valued at $54,750 issued pursuant to Section 4(2) (b)3/31/07Common730,000Nu-Tech StaffingServices valued at $7,300 issued pursuant to Section 4(2) (b)3/31/07Common5,475,000Todd RidemanServices valued at 54,750 issued pursuant to Section 4(2) (b)3/31/07Common3,650,000Kurt KotrayServices valued at 36,500 issued pursuant to Section 4(2) (b)3/31/07Common3,650,000Michael LevitskyServices valued at 36,500 issued pursuant to Section 4(2) (b)3/31/07Common365,000Lori & Scott NelsonServices valued at 3,650 issued pursuant to Section 4(2) (b)3/31/07Common5,475,000Kim & Larry SeskinServices valued at 54,750 issued pursuant to Section 4(2) (b)
(a) During the three-month period ended March 31, 2007,the Company offered and sold units to sophisticated investors. The units consistedof  1 share and 0.5 warrant at a price of $0.0068 per unit. The warrants areexercisable at $0.01 per share. This private placement offering was done with no generalsolicitation or advertising by the Company. The investors are business acquaintances ofmanagement and were approached by management individually.(b) These shares were issued in consideration with services provided to the Companyincluding administrative services, sales, marketing, contract analysis, technical andsales services.

The Company believes that the issuances and sale of therestricted shares were exempt from registration pursuant to Section 4(2) of the Act asprivately negotiated, isolated, non-recurring transactions not involving any publicsolicitation. The recipients in each case represented their intention to acquire thesecurities for investment only and not with a view to the distribution thereof.Appropriate restrictive legends are affixed to the stock certificates issued in suchtransactions. All recipients of restricted shares either received adequate informationabout the Company or had access, through employment, relation and/or businessrelationships with the Company to such information.

Based on an analysis of the above factors, theRegistrant has met the requirements to qualify this offering and sale for exemption underSection 4(2) of the Securities Act of 1933.

ITEM3. DEFAULTS UPON SENIOR SECURITIES****Back to Table of Contents

None.

ITEM4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSBack to Table of Contents

None.

ITEM5. OTHER INFORMATION****Backto Table of Contents

None.

ITEM6. EXHIBITS****Back toTable of Contents

(a) The following documents are filed as exhibits tothis report on Form 10-QSB or incorporated by reference herein.

Exhibit    No.Description31.1Certification of CEO pursuant    to Rule 13a-14(a) or 15d-14(a) of the Exchange Act pursuant to Section 302 of the    Sarbanes-Oxley Act of 2002.31.2Certification of CFO pursuant    to Rule 13a-14(a) or 15d-14(a) of the Exchange Act pursuant to Section 302 of the    Sarbanes-Oxley Act of 2002.32.1Certification of CEO pursuant    to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of    2002.32.2Certification of CFO pursuant    to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of    2002.
SIGNATURES

Pursuant to therequirements of the Securities Exchange Act of 1934, this report has been signed below bythe following persons on behalf of the registrant and in the capacities and on the dateindicated.
/s/    Michael Rideman    Michael Rideman       *CEO**   Dated: May 29, 2007*
/s/ Richard Grassano, CFO    Richard Grassano       *CFO**   Dated: May 29, 2007***VERACITY    MANAGEMENT GLOBAL, INC.**(Formerly Known as Kirshner International Inc.)Consolidated Balance SheetsBack to Table of Contents
(Unaudited)**  **
**March 31, 2007**
**June 30, 2006**
AssetsCurrent assets:   Cash$14,993$47,750   Accounts receivable
221,232
5,234        Total current assets
236,225
52,984   Property and equipment, net    of depreciation of $2,409 and $7837,8089,434          Total assets$
244,033$
62,418  
Liabilities    and Stockholders' Deficit  Current liabilities   Accounts payable    and accrued expenses$95,166$49,656   Accrued interest18,0825,371   Stockholder loan    payable82,964-   Notes payable -    stockholders, less unamortized discount of $24,741 and $3,408111,536149,075        Total liabilities$
307,748$
204,102  Stockholders' deficit:   Preferred stock,    $0.001par value, 5,000,000 shares authorized:      none    issued and outstanding
-
-   Common stock,    $0.001 par value, 3,500,000,000 shares authorized:         2,677,477,672 shares issued and outstanding2,677,4781,390,481   Additional paid-in    capital
1,071,976
197,508   Accumulated deficit
(3,813,169)
(1,729,673)     Total    stockholders' deficit
(63,715)
(141,684)        Total liabilities and stockholders' equity$
244,033$
62,418  The accompanying    notes to financial statements are integral part of these financial statements.**VERACITY MANAGEMENT GLOBAL, INC.**(Formerly Known as Kirshner International Inc.)Consolidated    Statement of Operations(Unaudited)  **From Inception****Three Months Ended****Nine Months Ended****(December 2, 2005) to****  **
**March 31, 2007**
**March 31, 2007**
**March 31, 2006**  Revenues$411,582$1,063,838$-  Cost of services102,765366,254-Selling expenses105,281196,18414,324Depreciation and amortization5291,626-Administrative expenses20,13743,258618General expenses446,0532,411,59672,345  Net loss from operations466,1902,454,85472,963  Other income599
2,5903,251Interest expense4,57530,548-        Net loss
$
(267,159)
$
1,983,035)
$
(84,036)  Basic and    diluted net loss per share
$
(0.00)$
(0.00)
$
(0.00)   Weighted    average shares2,653,793,255
2,619,318,9781,390,481,005   The accompanying    notes to financial statements are integral part of these financial statements.**VERACITY MANAGEMENT GLOBAL, INC.**(Formerly Kirshner International, Inc.)Consolidated    Statements of Cash Flows(Unaudited)  **From Inception
**Nine Months Ended**
**(December 2, 2005) to****  **
**March 31, 2007**
**March 31, 2006**  Cash flows from operating    activities:    Net loss
$
(1,983,035)
$
(84,036)   Adjustments to    reconcile net loss to net cash used in operating activities:          Depreciation expense1,626-          Stock issued for services1,616,187          BCF amortization17,412          Accountants receivable(262,536)-          Prepaid expenses and other current assets1,004          Accounts payable and accrued expenses50,29412,064          Accrued interest12,711-                Net cash used in operating activities 
(546,337)
(71,972)  Cash flow from    investing activities:      Cash acquired in purchase business combination84,580   Purchase of fixed    assets-(1,075)                Net cash used in investing activities84,580(1,075)  Cash flows from financing    activities:    Proceeds from notes    payable50,00021,592   Proceeds from sale    of common stock419,00028,408   Principal payments    on notes payable
(40,000)
-               Net cash provided by financing activities 
429,000
50,000                 Net increase (decrease) in cash 
(32,757)
(23,047)Cash - beginning of period
47,750
-Cash - end of    period
$
14,993
$
(23,047)   Supplemental cash flow    disclosures   Interest paid$-$-   Income taxes paid$-$-   The accompanying    notes to financial statements are integral part of these financial statements.****VERACITYMANAGEMENT GLOBAL, INC.**(Formerly Known as Kirshner International, Inc.)NOTES TOCONSOLIDATED FINANCIAL STATEMENTS(Unaudited)
**NOTE 1- BASIS OF PRESENTATION

The accompanying consolidated financial statements ofVeracity Management Global, Inc (the "Company", "VMGG") at March 31,2007 have been prepared without audit, pursuant to the rules and regulations of theSecurities and Exchange Commission. Certain information and footnote disclosures normallyincluded in financial statements prepared in conformity with generally accepted accountingprinciples have been omitted or condensed pursuant to such rules and regulations. Thesestatements should be read in conjunction with VMGG’s audited financial statements andnotes thereto included in VMGG’s Form 10-SB. In management’s opinion, theseinterim consolidated and unaudited interim financial statements reflect all adjustments(consisting of normal and recurring adjustments) necessary for a fair presentation of theconsolidated financial position and results of operations for each of the periodspresented. The accompanying unaudited interim financial statements for the three monthsended March 31, 2007 are not necessarily indicative of the results which can be expectedfor the entire year.
**NOTE 2- GOING CONCERN

Veracity Management Global, Inc.’s financialstatements have been prepared on a going concern basis, which contemplates the realizationof assets and settlement of liabilities and commitments in the normal course of businessfor the foreseeable future. Since inception, the Company has accumulated lossesaggregating to $ 3,813,169 and has insufficient working capital to meet operating needsfor the next twelve months as of March 31, 2007, all of which raise substantial doubtabout VMGG’s ability to continue as a going concern.
**NOTE 3 – COMMON STOCK TRANSACTIONS

During the nine-month period ended March 31, 2007, VMGGhad the following equity transactions:

61,977,000 common shares and 30,988,500 warrants topurchase common shares at an exercise price of $0.01 per share were sold for $419,000.

901,963,468 common shares were issued for servicesvalued at $1,616,187 based upon the closing quoted market price of VMGG’s commonstock on the date the services were performed.
**NOTE 4- BUSINESS COMBINATION

On July 1, 2006, Veracity Management Global, Inc, (VMGG)merged with Veracity Management Group, Inc. (VMG) and Secured Financial Data, Inc. (SFD).Pursuant to a Share Exchange Agreement, VMGG issued 1,648,561,738 shares of common stockin exchange for all the outstanding common stock of VMG (258,080,733 shares) and SFD(1,390,481,005).

For accounting purposes, the merger was treated as arecapitalization of VMGG by SFD and a purchase of VMG by VMGG. Accordingly, the financialresults presented for all periods prior to the merger date are those of SFD. Thisevaluation was conducted pursuant to the guidance in FASB statement number 141 as theformer SFD shareholders have majority control of VMGG subsequent to the merger throughmajority voting interest, control the majority of the board of directors, and control themajority of all management decisions. VMG is a wholly owned subsidiary. SFD’s equitystructure was restated to adopt the equity structure of VMGG. (73 shares of VMGG for eachshare of VMG and SFD) As of the merger date, the financial statements include the combinedoperating results, assets and liabilities of VMGG, VMG and SFD. Since VMGG was inactiveprior to the merger, it is not expected to constitute a significant part of the ongoingbusiness of the combined company.

VMGG issued a total of 1,648,561,738 shares of commonstock as a result of the above transactions. 258,080,733 shares were issued to theshareholders of VMG resulting in total assets and liabilities of $130,804 and $49,169,respectively, at July 1, 2006. 1,390,481,005 shares were issued to the shareholders of SFDresulting in total assets and liabilities of $62,418 and $204,102, respectively, at July1, 2006. As a result of the recapitalization, SFD’s assets and liabilities are statedat historical cost. As a result of the business combination between VMGG and VMG,VMG’s assets and liabilities are stated at fair market value which approximateshistorical cost.

The purchase price paid for VMG was $25,810. Thisrepresented a discount to the book value of VMG of $55,827. Pursuant to the terms of theagreement the majority shareholders of VMGG immediately prior to the merger have theoption to receive an additional 20% equity ownership in VMGG or rescind the merger ifcertain financial benchmarks are not achieved by June 30, 2007. Consistent with theguidance in FASB statement number 141 we have recorded a liability of $55,837 for thediscounted price paid for VMG due to this possible contingency. 

Since the above transactions took place on July 1, 2006the first day of fiscal 2007, the financial results presented for the three and nine-monthperiod ended March 31, 2007 would not differ had the transaction occurred at an earlierdate.************************** |