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

|   | o         | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE  ACT |
|--------|---------------------|-----------------------------------------------------------------------|

| Delaware                                                                                        | 37-1532843                             |
|-------------------------------------------------------------------------------------------------|----------------------------------------|
| (State      or other jurisdiction of incorporation or      organization)    | (IRS      Employer Identification No.) |
|                                                                                            |                                   |

| Large      accelerated filer o                                                                      | Accelerated      filer  o         |
|---------------------------------------------------------------------------------------------------------------|----------------------------------------|
| Non-accelerated      filer   o  (Do not      check if a smaller reporting company)   | Smaller      reporting company  x |

----

| PART      I.           | FINANCIAL      INFORMATION                                                                                                                                                         | Page       Number |
|------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|
|                   |                                                                                                                                                                               |                   |
| Item      1.           | Financial      Statements                                                                                                                                                          |                   |
|                   |                                                                                                                                                                               |                   |
|                   | Condensed      Consolidated Balance Sheets as of September 30, 2009 (Unaudited) and      December 31, 2008                                                                         | 4                      |
|                   |                                                                                                                                                                               |                   |
|                   | Condensed      Consolidated Statements of Operations and Comprehensive Loss for the      three and nine months ended September 30, 2009 (Unaudited) and 2008      (Unaudited) | 5                      |
|                   |                                                                                                                                                                               |                   |
|                   | Condensed      Consolidated Statement of Stockholders’ Deficit for the nine      months ended September 30, 2009 (Unaudited)                                       | 6                      |
|                   |                                                                                                                                                                               |                   |
|                   | Condensed      Consolidated Statements of Cash Flows for the nine months ended September      30, 2009 (Unaudited) and 2008 (Unaudited)                                            | 7                      |
|                   |                                                                                                                                                                               |                   |
|                   | Notes      to Condensed Consolidated Financial      Statements (Unaudited)                                                                                          | 8                      |
|                   |                                                                                                                                                                               |                   |
| Item      2.           | Management's      Discussion and Analysis of Financial Condition and Results of      Operations                                                                                    | 19                     |
|                   |                                                                                                                                                                               |                   |
| Item      3.           | Quantitative      and Qualitative Disclosures about Market Risk                                                                                                                    | 23                     |
|                   |                                                                                                                                                                               |                   |
| Item      4T.          | Controls      and Procedures                                                                                                                                                       | 23                     |
|                   |                                                                                                                                                                               |                   |
| PART      II.          | OTHER      INFORMATION                                                                                                                                                             |                   |
|                   |                                                                                                                                                                               |                   |
| Item      1.           | Legal      Proceedings                                                                                                                                                             | 25                     |
|                   |                                                                                                                                                                               |                   |
| Item1A.                | Risk      Factors                                                                                                                                                                  | 25                     |
|                   |                                                                                                                                                                               |                   |
| Item      2.           | Unregistered      Sales of Equity Securities and Use of Proceeds                                                                                                                   | 25                     |
|                   |                                                                                                                                                                               |                   |
| Item      3.           | Defaults      Upon Senior Securities                                                                                                                                               | 25                     |
|                   |                                                                                                                                                                               |                   |
| Item      4.           | Submission      of Matters to a Vote of Security Holders                                                                                                                           | 25                     |
|                   |                                                                                                                                                                               |                   |
| Item      5.           | Other      Information                                                                                                                                                             | 25                     |
|                   |                                                                                                                                                                               |                   |
| Item      6.           | Exhibits                                                                                                                                                                           | 25                     |
|                   |                                                                                                                                                                               |                   |
| SIGNATURES        |                                                                                                                                                                               | 26                     |

----

|   |                                                                                                                                   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------|
| · | Part I      – Item 1. Financial Statements                                                                             |
|   |                                                                                                                                   |
| · | Part I      – Item 2. Management’s Discussion and Analysis of Financial Condition      and Results of Operations |
|   |                                                                                                                                   |
| · | Part I      – Item 4. Controls and Procedures                                                                          |
|   |                                                                                                                                   |

----

|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|------------|--------|--------------------------------|--------|
|                                                                                                                                                                                                                       |   | September      30, 2009(Unaudited) |       |   | December      31, 2008(Note 2) |   |
|                                                                                                                                                                                                                       |   | Restated                           |       |   |                           |   |
| ASSETS                                                                                                                                                                                                                     |   |                               |       |   |                           |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |
| Current      assets:                                                                                                                                                                                                       |   |                               |       |   |                           |   |
| Cash      and cash equivalents                                                                                                                                                                                             |   | $                                  | 112,335    |   |                           | $      | 144,546 |   |
| Accounts      receivable, net                                                                                                                                                                                              |   |                               | 408,605    |   |                           |   | 552,517 |   |
| Prepaid      expenses and other current assets                                                                                                                                                                             |   |                               | 23,083     |   |                           |   | 42,593 |   |
| Total      current assets                                                                                                                                                                                                  |   |                               | 544,023    |   |                           |   | 739,656 |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Property      and equipment, net                                                                                                                                                                                           |   |                               | 23,603     |   |                           |   | 34,266 |   |
| Other      assets                                                                                                                                                                                                          |   |                               | 2,952      |   |                           |   | 2,953 |   |
| Total      assets                                                                                                                                                                                                          |   | $                                  | 570,578    |   |                           | $      | 776,875 |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| LIABILITIES      AND DEFICIT                                                                                                                                                                                               |   |                               |       |   |                           |   |   |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Current      liabilities:                                                                                                                                                                                                  |   |                               |       |   |                           |   |   |   |
| Accounts      payable                                                                                                                                                                                                      |   | $                                  | 578,803    |   |                           | $      | 336,906 |   |
| Accrued      expenses                                                                                                                                                                                                      |   |                               | 464,591    |   |                           |   | 188,555 |   |
| Revolving      credit facility                                                                                                                                                                                             |   |                               | 53,764     |   |                           |   | 216,590 |   |
| Deferred      revenue                                                                                                                                                                                                      |   |                               | 180,455    |   |                           |   | 154,011 |   |
| Current      portion of long-term debt                                                                                                                                                                                     |   |                               | 493,138    |   |                           |   | 60,792 |   |
| Current      portion of capital lease obligations                                                                                                                                                                          |   |                               | 13,493     |   |                           |   | 16,242 |   |
| Preferred      stock dividends payable - stated                                                                                                                                                                            |   |                               | 178,208    |   |                           |   | 68,250 |   |
| Preferred      stock dividends payable - accreted                                                                                                                                                                          |   |                               | -          |   |                           |   | 395,585 |   |
| Common      stock put options                                                                                                                                                                                              |   |                               | -          |   |                           |   | 269,000 |   |
| Management      fee payable                                                                                                                                                                                                |   |                               | 113,978    |   |                           |   | 50,000 |   |
| Other      current liabilities                                                                                                                                                                                             |   |                               | 20,566     |   |                           |   | 5,299 |   |
| Total      current liabilities                                                                                                                                                                                             |   |                               | 2,096,996  |   |                           |   | 1,761,230 |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Long-term      debt, less current portion                                                                                                                                                                                  |   |                               | 196,469    |   |                           |   | 514,606 |   |
| Capital      lease obligations, less current portion                                                                                                                                                                       |   |                               | 8,402      |   |                           |   | 16,409 |   |
| Total      liabilities                                                                                                                                                                                                     |   |                               | 2,301,867  |   |                           |   | 2,292,245 |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Commitments      and contingencies                                                                                                                                                                                         |   |                               |       |   |                           |   |   |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Deficit:                                                                                                                                                                                                                   |   |                               |       |   |                           |   |   |   |
| Preferred      stock, par value $0.001; 10,000,000 shares authorized;      no shares issued as of September 30, 2009 and December 31, 2008,      respectively                                                              |   |                               | -          |   |                           |   | - |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Common      stock, $0.001 par value; 40,000,000 authorized; issued 2,735,516 and      outstanding 2,310,516 shares at September      30, 2009; issued 2,192,094 and outstanding 1,383,483 shares at December      31, 2008 |   |                               | 2,736      |   |                           |   | 2,192 |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Treasury      stock, at cost; 425,000 and 808,611 shares at September 30, 2009 and      December 31, 2008, respectively                                                                                                    |   |                               | (40        | )      |                           |   | (974,015 | ) |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
| Additional      paid-in capital                                                                                                                                                                                            |   |                               | (187,719   | )      |                           |   | 540,997 |   |
| Common      stock put options                                                                                                                                                                                              |   |                               | -          |   |                           |   | (269,000 | ) |
| Accumulated      deficit                                                                                                                                                                                                   |   |                               | (1,483,705 | )      |                           |   | (812,782 | ) |
| Accumulated      other comprehensive income (loss)                                                                                                                                                                         |   |                               | 8,480      |   |                           |   | (2,762 | ) |
| Total      stockholders' deficit of Midas Medici Group Holdings,      Inc.                                                                                                                                                 |   |                               | (1,660,248 | )      |                           |   | (1,515,370 | ) |
| Non-controlling      interest                                                                                                                                                                                              |   |                               | (71,041    | )      |                           |   | - |   |
| Total      deficit                                                                                                                                                                                                         |   |                               | (1,731,289 | )      |                           |   | (1,515,370 | ) |
| Total      liabilities and deficit                                                                                                                                                                                         |   | $                                  | 570,578    |   |                           | $      | 776,875 |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |
|                                                                                                                                                                                                                       |   |                               |       |   |                           |   |   |   |

----

|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |
|-------------------------------------------------------------------------------|--------|--------------------------------------------|-----------|--------|--------------------------------------------|--------|-----------|-------------------------------------------|--------|--------|-------------------------------------------|--------|
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |
|                                                                          |   | Three      Months Ended September 30, 2009 |      |   | Three      Months Ended September 30, 2008 |   |      | Nine      Months Ended September 30, 2009 |   |   | Nine      Months Ended September 30, 2008 |   |
|                                                                          |   | Restated                                   |      |   |                                       |   |      | Restated                                  |   |   |                                      |   |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |
| Net      revenues                                                             |   | $                                          | 837,404   |   |                                       | $      | 1,055,595 |                                      |   | $      | 2,566,962                                 |   |   | $ | 2,826,650 |   |
| Cost      of services                                                         |   |                                       | 506,153   |   |                                       |   | 599,581   |                                      |   |   | 1,445,193                                 |   |   |   | 1,485,006 |   |
| Gross      margin                                                             |   |                                       | 331,251   |   |                                       |   | 456,014   |                                      |   |   | 1,121,769                                 |   |   |   | 1,341,644 |   |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Operating      expenses:                                                      |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Selling,      general and administrative                                      |   |                                       | 820,474   |   |                                       |   | 493,683   |                                      |   |   | 1,784,968                                 |   |   |   | 1,338,676 |   |
| Depreciation      and amortization                                            |   |                                       | 4,421     |   |                                       |   | 4,464     |                                      |   |   | 13,835                                    |   |   |   | 12,207 |   |
| Total      operating expenses                                                 |   |                                       | 824,895   |   |                                       |   | 498,147   |                                      |   |   | 1,798,803                                 |   |   |   | 1,350,883 |   |
| Operating      loss                                                           |   |                                       | (493,644  | )      |                                       |   | (42,133   | )                                         |   |   | (677,034                                  | )      |   |   | (9,239 | ) |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Other      income (expense):                                                  |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Interest      income                                                          |   |                                       | 1         |   |                                       |   | -         |                                      |   |   | 2                                         |   |   |   | - |   |
| Interest      expense                                                         |   |                                       | (19,791   | )      |                                       |   | (19,888   | )                                         |   |   | (62,855                                   | )      |   |   | (49,332 | ) |
| Total      other income (expense)                                             |   |                                       | (19,790   | )      |                                       |   | (19,888   | )                                         |   |   | (62,853                                   | )      |   |   | (49,332 | ) |
| Loss      before income taxes                                                 |   |                                       | (513,434  | )      |                                       |   | (62,021   | )                                         |   |   | (739,887                                  | )      |   |   | (58,571 | ) |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Provision      (benefit) for income taxes                                     |   |                                       | -         |   |                                       |   | (13,879   | )                                         |   |   | 2,077                                     |   |   |   | (1,362 | ) |
| Net      loss                                                                 |   |                                       | (513,434  | )      |                                       |   | (48,142   | )                                         |   |   | (741,964                                  | )      |   |   | (57,209 | ) |
| Less:      Net loss attributable to the non-controlling    interest           |   |                                       | 69,634    |   |                                       |   | -         |                                      |   |   | 71,041                                    |   |   |   | - |   |
| Net      loss attributable to Midas Medici Group Holdings,    Inc.            |   |                                       | (443,800  | )      |                                       |   | (48,142   | )                                         |   |   | (670,923                                  | )      |   |   | (57,209 | ) |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Preferred      stock dividends and dividend accretion                         |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Preferred      stock stated dividends                                         |   |                                       | (41,708   | )      |                                       |   | (34,125   | )                                         |   |   | (109,958                                  | )      |   |   | (102,375 | ) |
| Preferred      stock dividend accretion                                       |   |                                       | (30,377   | )      |                                       |   | (72,285   | )                                         |   |   | (203,109                                  | )      |   |   | (201,659 | ) |
| Net      loss applicable to common stockholders                               |   | $                                          | (515,885  | )      |                                       | $      | (154,552  | )                                         |   | $      | (983,990                                  | )      |   | $ | (361,243 | ) |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Net      loss per common share (basic and diluted)                            |   | $                                          | (0.32     | )      |                                       | $      | (0.11     | )                                         |   | $      | (0.64                                     | )      |   | $ | (0.26 | ) |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Weighted      average common shares outstanding (basic and      diluted) |   |                                       | 1,600,037 |   |                                       |   | 1,355,631 |                                      |   |   | 1,531,736                                 |   |   |   | 1,372,730 |   |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Comprehensive      loss:                                                      |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
| Net      loss                                                                 |   | $                                          | (513,434  | )      |                                       | $      | (48,142   | )                                         |   | $      | (741,964                                  | )      |   | $ | (57,209 | ) |
| Foreign      currency translation                                             |   |                                       | (4,882    | )      |                                       |   | -         |                                      |   |   | 11,242                                    |   |   |   | - |   |
| Total      comprehensive loss                                                 |   |                                       | (518,316  | )      |                                       |   | (48,142   | )                                         |   |   | (730,722                                  | )      |   |   | (57,209 | ) |
| Comprehensive      loss attributable to the non-controlling interest          |   |                                       | 69,634    |   |                                       |   | -         |                                      |   |   | 71,041                                    |   |   |   | - |   |
| Comprehensive      loss attributable to Midas Medici Group Holdings,    Inc.  |   | $                                          | (448,682  | )      |                                       | $      | (48,142   | )                                         |   | $      | (659,681                                  | )      |   | $ | (57,209 | ) |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |
|                                                                          |   |                                       |      |   |                                       |   |      |                                      |   |   |                                      |   |   |   |   |   |

----

| Midas      Medici Group Holdings, Inc. and Subsidiaries         |
|-----------------------------------------------------------------|
| (Formerly      Utilipoint International, Inc. and Subsidiaries) |
| Condensed      Consolidated Statements of Stockholders' Deficit |
| Nine Months Ended September 30, 2009                            |
| (Unaudited)                                                |
| Restated                                                        |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |

|                                                                                                                                                               |   | Common      Stock |      |    | Additional      Paid-in Capital |   |   | Treasury Stock |   |   | Common      Stock Put Options |    |   | Accumulated      Deficit |         |   | Accumulated      Other Comprehensive Income (Loss) |   |     | Total      Stockholders' Deficit |   |   | Non-Controlling      Interest |   |   | Total      Deficit |       |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|---------|---------------------------------|--------|--------|---------------------|--------|--------|-------------------------------|---------|--------|--------------------------|--------------|--------|----------------------------------------------------|--------|----------|----------------------------------|--------|--------|-------------------------------|--------|--------|--------------------|------------|
|                                                                                                                                                               |   | Shares            |      |    | Amount                          |   |   |                |   |   | Shares                        |    |   | Amount                   |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |
| Balance      - December 31, 2008                                                                                                                                   |   |              | 2,192,094 |    |                            | $      | 2,192  |                |   | $      | 540,997                       |    |   |                     | 808,611      |   |                                               | $      | (974,015 | )                                |   | $      | (269,000                      | )      |   | $                  | (812,782   | ) |   | $ | (2,762 | ) |   | $ | (1,515,370 | ) |   |   |   |   | $ | (1,515,370 | ) |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sales      of common stock                                                                                                                                         |   |              | 15,981    |    |                            |   | 16     |                |   |   | 24,984                        |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   | 25,000 |   |   |   |   |   |   | 25,000 |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Treasury      stock received at $0.00 cost                                                                                                                         |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     | 50,948  |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   | - |   |   |   |   |   |   | - |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect      of reverse merger adjustments                                                                                                                          |   |              | 1,387,000 |    |                            |   | 1,387  |                |   |   | (262,546                      | )       |   |                     | 425,000      |   |                                               |   | (40      | )                                |   |   |                          |   |   |               |       |   |   |   |   |   |   |   | (261,199 | ) |   |   |   |   |   | (261,199 | ) |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |
|        Accretion      of accelerated and balloon dividends on preferred    stock                                                                              |   |              |      |    |                            |   |   |                |   |   | (203,109                      | )  |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   | (203,109 | )  |   |   |   |   |   | (203,109 | )  |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Elimination      of treasury stock upon reverse merger                                                                                                             |   |              | (859,559  | )       |                            |   | (859   | )                   |   |   | (973,156                      | )       |   |                     | (859,559     | )      |                                               |   | 974,015  |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   | - |   |   |   |   |   |   | - |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Elimination      of accrued      common      stock      put options      upon      reverse merger                                                                  |   |              |      |    |                            |   |   | 269,000             |   |   |                          |    |   |                     |         |   |                                               |   |     | 269,000                          |   |   |                          |   |   |               | 269,000    |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Elimination      of accumulated      accretion      of accelerated      and      balloon dividends      on preferred      stock upon      reverse      merger |   |              |      | 598,694 |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       | 598,694 |   |   |   |   |   |   | 598,694 |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred      dividends                                                                                                                                           |   |              |      |    |                            |   |   | (109,958            | )      |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   | (109,958 | ) |   |   |   |   |   | (109,958 | ) |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock-based      compensation                                                                                                                                      |   |              |      |    |                            |   |   | 196,375             |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   | 196,375 |   |   |   |   |   |   | 196,375 |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign      currency      translation                                                                                                                             |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       | 11,242 |   |   |   | 11,242 |   |   |   |   |   |   | 11,242 |   |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss      attributed to      Non-Controlling      Interest                                                                                                         |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       | - |   |   | $  | (71,041 | ) |   |   | (71,041 | ) |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        Net      loss attributable      to Midas      Medici Group      Holdings,      Inc.                                                                    |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               | (670,923   | )  |   |   |   |   |   |   | (670,923 | )  |   |   |   |   |   |   | (670,923 | )  |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      - September 30, 2009                                                                                                                                  |   |              | 2,735,516 |    |                            | $      | 2,736  |                |   | $      | (187,719                      | )       |   |                     | 425,000      |   |                                               | $      | (40      | )                                |   | $      | -                             |   |   | $                  | (1,483,705 | ) |   | $ | 8,480 |   |   | $ | (1,660,248 | ) |   | $ | (71,041 | ) |   | $ | (1,731,289 | ) |
|                                                                                                                                                               |   |              |      |    |                            |   |   |                |   |   |                          |    |   |                     |         |   |                                               |   |     |                             |   |   |                          |   |   |               |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                    |   |                                                |     |   |                                                |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------|----------|--------|-----------------------------------------------------|--------|
|                                                                                                                    |   | Nine      Months Ended      September      30, 2009 |     |   | Nine      Months Ended      September      30, 2008 |   |
| Cash      flows from operating activities:                                                                              |   |                                                |     |   |                                                |   |
| Net      loss                                                                                                           |   | $                                                   | (741,964 | )      |                                                | $      | (57,209 | ) |
| Adjustments      to reconcile net loss to net cash used in operating      activities:                                   |   |                                                |     |   |                                                |   |   |   |
| Depreciation      and amortization                                                                                      |   |                                                | 13,835   |   |                                                |   | 12,207 |   |
| Provision      for uncollectible accounts                                                                               |   |                                                | -        |   |                                                |   | 3,425 |   |
| Stock-based      compensation                                                                                           |   |                                                | 196,375  |   |                                                |   | - |   |
| Deferred      taxes                                                                                                     |   |                                                | -        |   |                                                |   | (4,302 | ) |
| Changes      in operating assets and liabilities net of effects of consolidation of      Utilipoint International, Inc: |   |
| Accounts      receivable                                                                                                |   |                                                | 150,795  |   |                                                |   | (81,482 | ) |
| Prepaid      expenses and other current assets                                                                          |   |                                                | 20,074   |   |                                                |   | 86,205 |   |
| Accounts      payable                                                                                                   |   |                                                | 159,794  |   |                                                |   | 2,219 |   |
| Accrued      expenses and other current liabilities                                                                     |   |                                                | 91,623   |   |                                                |   | 54,577 |   |
| Deferred      revenue                                                                                                   |   |                                                | 25,813   |   |                                                |   | (50,599 | ) |
| Management      fees payable                                                                                            |   |                                                | 63,978   |   |                                                |   | 25,000 |   |
| Other                                                                                                                   |   |                                                | 4,310    |   |                                                |   | (11,602 | ) |
| Net      cash used in operating activities                                                                              |   |                                                | (15,367  | )      |                                                |   | (21,561 | ) |
|                                                                                                                    |   |                                                |     |   |                                                |   |   |   |
| Cash      flows from investing activities:                                                                              |   |                                                |     |   |                                                |   |   |   |
| Additions      to property and equipment                                                                                |   |                                                | (1,081   | )      |                                                |   | (2,411 | ) |
| Net      cash acquired from acquisition                                                                                 |   |                                                | 16,482   |   |                                                |   | - |   |
| Net      cash provided by (used in) investing activities                                                                |   |                                                | 15,401   |   |                                                |   | (2,411 | ) |
|                                                                                                                    |   |                                                |     |   |                                                |   |   |   |
| Cash      flows from financing activities:                                                                              |   |                                                |     |   |                                                |   |   |   |
| Net      borrowings (payments) on revolving credit facility                                                             |   |                                                | (163,062 | )      |                                                |   | 164,894 |   |
| Change      in bank overdrafts                                                                                          |   |                                                | -        |   |                                                |   | (113,937 | ) |
| Principal      payments on capital lease obligations                                                                    |   |                                                | (12,639  | )      |                                                |   | (10,362 | ) |
| Principal      payments on notes payable                                                                                |   |                                                | (97,260  | )      |                                                |   | (78,233 | ) |
| Proceeds      from notes payable                                                                                        |   |                                                | 212,046  |   |                                                |   | 150,000 |   |
| Proceeds      from issuance of common stock                                                                             |   |                                                | 25,000   |   |                                                |   | - |   |
| Distribution/dividend      to preferred stockholders                                                                    |   |                                                | -        |   |                                                |   | (68,250 | ) |
| Net      cash provided by (used in) financing activities                                                                |   |                                                | (35,915  | )      |                                                |   | 44,112 |   |
|                                                                                                                    |   |                                                | -        |   |                                                |   |   |   |
| Net      increase (decrease) in cash and cash equivalents                                                               |   |                                                | (35,881  | )      |                                                |   | 20,140 |   |
| Effect      of exchange rate changes on cash and cash    equivalents                                                    |   |                                                | 3,670    |   |                                                |   | - |   |
| Cash      and cash equivalents at beginning of period                                                                   |   |                                                | 144,546  |   |                                                |   | - |   |
| Cash      and cash equivalents at end of period                                                                         |   | $                                                   | 112,335  |   |                                                | $      | 20,140 |   |
|                                                                                                                    |   |                                                |     |   |                                                |   |   |   |
| Supplemental      disclosure of cash flow information:                                                                  |   |                                                |     |   |                                                |   |   |   |
| Cash      paid during the period for:                                                                                   |   |                                                |     |   |                                                |   |   |   |
| Interest                                                                                                                |   | $                                                   | 55,350   |   |                                                | $      | 42,480 |   |
| Taxes                                                                                                                   |   | $                                                   | 2,077    |   |                                                | $      | 2,940 |   |
|                                                                                                                    |   |                                                |     |   |                                                |   |   |   |
| Supplemental      disclosure of non-cash financing and investing      activities:                                       |   |                                                |     |   |                                                |   |   |   |
| Property      and equipment acquired under capital leases                                                               |   | $                                                   | 1,884    |   |                                                | $      | 13,054 |   |
|                                                                                                                    |   |                                                |     |   |                                                |   |   |   |
|                                                                                                                    |   |                                                |     |   |                                                |   |   |   |

----

----

| (a)  | Use      of EstimatesThe      preparation of financial statements in conformity with accounting      principles generally accepted in the United States of America requires      management to make estimates and assumptions that affect the reported      amounts of assets and liabilities and the disclosure of contingent assets      and liabilities at the date of the financial statements and the reported      amounts of revenues and expenses during the reporting period. Actual      results could differ from those estimates.  Significant estimates      include: allowances for doubtful accounts, certain revenue recognition      methodologies related to contract deliverables, valuation allowances for      deferred tax assets, rates at which deferred tax assets and liabilities      are expected to be recorded or settled, accruals for paid time off and the      estimated labor utilization rate used to determine cost of services for      the Company’s foreignsubsidiary. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)  | Cash      and Cash Equivalents For      purposes of the statement of cash flows, the Company considers highly      liquid financial instruments purchased with original maturities of three      months or less to be cash  equivalents. |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)  | Allowance      for Doubtful AccountsAllowance      for doubtful accounts are based on evaluation of customers’ ability to      meet their financial obligations to the Company.  When evaluation      indicates that the ability to pay is impaired, a specific allowance      against amounts due is recorded thereby reducing the net recognized      receivable to the amount the Company reasonably believes will be      collected. When management determines that receivables are not      collectible, the gross receivable is written off against the allowance for      doubtful accounts. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (d)  | Income      Taxes The      current or deferred tax consequences of all events that have been      recognized in the financial statements are measured based on provisions of      enacted tax law to determine the amount of taxes payable or refundable in      future periods. Deferred tax assets and liabilities are recognized for the      estimated future tax consequences attributable to differences between      financial statement carrying amounts of existing assets and liabilities,      and their respective tax basis.  Deferred tax assets and liabilities      are measured using enacted tax rates for the years in which those      temporary differences are expected to be recovered or settled.  The      effect of a change in tax rates on deferred tax assets and liabilities is      recognized into income during the period that includes the enactment      date.  A valuation allowance is established to reduce deferred tax      assets if it is more likely than not that all, or some portion of, such      deferred tax assets will not be realized.  The Company accounts for      uncertain tax positions in accordance with provision FASB ASC 740,      Subtopic FASB ASC 740, Subtopic 10 which prescribes a recognition      threshold and measurement attribute for financial statement recognition      and measurement of a tax position taken or expected to be taken in a tax      return. The Company does not believe it has any material unrecognized      income tax positions. As of September 30, 2009, deferred tax assets have      been fully offset by a valuation allowance and therefore no tax benefit      has been recognized on the loss through September 30,      2009. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)  | Fair      Value of Financial InstrumentsThe      carrying amounts of financial instruments, which include cash and cash      equivalents, accounts receivable, prepaid expenses and other current      assets, accounts payable, accrued expenses, other current liabilities,      revolving credit facility and debt approximate their fair values due to      their short maturities and variable interest rate on the revolving credit      facility and fixed rates which approximate market rates on significant      notes payable. Based on borrowing rates currently available to the Company      for loans with similar terms, the carrying value of capital lease      obligations approximates fair      value. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)  | Revenue      Recognition The      Company's primary revenue streams and the basis on which revenue is      recognized for each are as      follows: Fixed-Price      ContractsFixed      price contracts are projects where services are provided at an agreed upon      price for defined deliverables. On occasion, clients with fixed price      contracts will require an accounting of all hours worked on a project at      an agreed upon hourly rate to accompany an      invoice. The      Company recognizes revenue when a deliverable is provided except in      the case where the client requires that time reporting accompany an      invoice. In that case, Utilipoint recognizes revenue up to the amount the      time records support, in that clients requiring time reporting with hourly      rates on fixed price contracts typically can only ask for refunds on fixed      price projects up to the amount as if the contract had been time and      materials. With acceptance of the final deliverable, all revenue is      recognized. Bundled Service      Agreements (“BSAs”)BSAs      are packages of services that clients subscribe to, typically on an annual      contract basis. The services typically include a combination of the      following:  |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Interest      rates                                     |   | Maturity                       |                     | September      30, 2009 |     |    | December      31, 2008 |   |
|---------------------------------------------------------|--------|--------------------------------|--------------------------|-------------------------|----------|---------|------------------------|--------|
|                                                    | 12.00% |                           | 1/1/2010                 |                    | $        | 447,106 |                   |   | $ | 447,106 |   |
|                                                    | 10.00% |                           | 12/31/2013               |                    |     | 62,500  |                   |   |   | 62,500 |   |
|                                                    | 4.00%  |                           | 5/4/2010                 |                    |     | 5,000   |                   |   |   | 5,000 |   |
|                                                    | 4.00%  |                           | 9/23/2009      (1)       |                    |     | 16,000  |                   |   |   | 16,000 |   |
|                                                    | 4.00%  |                           |        6/2/2009 (2) |                    |     | 3,722   |                   |   |   | 9,722 |   |
|                                                    | 10.00% |                           | 1/15/2014                |                    |     | 10,000  |                   |   |   | - |   |
|                                                    | 10.00% |                           | 1/15/2014                |                    |     | 7,500   |                   |   |   | - |   |
|                                                    | 10.00% |                           | 1/15/2014                |                    |     | 7,500   |                   |   |   | - |   |
|                                                    | 5.00%  |                           | 6/30/2012                |                    |     | 108,969 |                   |   |   | - |   |
| Variable,      3% and 4.68% at September 30, 2009 and   |   |                           |                     |                    |     |    |                   |   |   |   |
| December      31, 2008, respectively                    |   |         8/2/2009 (3) |                     |                    | 21,310   |    |                   |   | 35,070 |   |
| Total      long-term debt, including                    |   |                           |                     |                    |     |    |                   |   |   |   |
| current      maturities                                 |   |                           |                     |                    | 689,607  |    |                   |   | 575,398 |   |
| Current      maturities of long-term debt               |   |                           |                     |                    | (493,138 | )       |                   |   | (60,792 | ) |
| Long-term      debt, less current portion               |   |                           |                     |                    | 196,469  |    |                   |   | 514,606 |   |
|                                                    |   |                           |                     |                    |     |    |                   |   |   |   |   |
| Short-term      debt:                                   |   |                           |                     |                    |     |    |                   |   |   |   |
| Revolving      credit facility/note payable Utilipoint  |   |                           |                     |                    | 46,264   |    |                   |   | 216,590 |   |
| Revolving      credit facility Intelligent Project, LLC |   |                           |                     |                    | 7,500    |    |                   |   | - |   |
| Short-term      notes payable                           |   |                           |                     |                    | 577      |    |                   |   | - |   |
| Current      maturities of long-term debt               |   |                           |                     |                    | 493,138  |    |                   |   | 60,792 |   |
| Total      short-term debt                              |   |                           |                     |                    | 547,479  |    |                   |   | 277,382 |   |
| Total      debt                                         |   |                           |                     | $                       | 743,948  |    |                   | $      | 791,988 |   |

| (1)   | The      $16,000 note payable due September 23, 2009 was restructured on August 1,      2009 in connection with the resignation of the Company executive who holds      the note. Per terms of a separation agreement, the former Company      executive agreed to an extension of terms in the amount of two      installments of $2,000 and $14,000 due December 31, 2009 and January 30,      2010, respectively. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | The      same former Company executive also agreed to a payment date of September      30, 2009 for the unpaid portion, $3,722 of the $9,722 note due June 2,      2009 of which $6,000 had been paid on June 2, 2009. Payment of the unpaid      portion of $3,722 was made on October 16,  2009. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | In      connection with the employment agreement of one of the management      shareholders, we have agreed to make a principal payment of $5,000 per      month beginning July 31, 2009 in addition to the normal monthly payment      for the variable rate sub-debt note that is due August 2, 2009 until the      note is paid in full. As of September 30, 2009, the outstanding balance      was $21,310. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Year  |   | Amount  |    |
|-------|--------|---------|---------|
| 2010  |   | $  | 493,138 |   |
| 2011  |   |    | -       |   |
| 2012  |   |    | 108,969 |   |
| 2013  |   |    | 62,500  |   |
| 2014  |   |    | 25,000  |   |
| Total |   | $       | 689,607 |   |

----

----

|                                        |   |   |    |   |                |   |   |                      |   |   |                 |   |
|---------------------------------------------|--------|--------|---------|--------|---------------------|--------|--------|---------------------------|--------|--------|----------------------|--------|
|                                        |   |   |    |   | Weighted-Average    |   |   | Weighted-AverageRemaining |   |   | Aggregate            |   |
|                                        |   | Shares |    |   | Exercise      Price |   |   | Contractual      Term     |   |   | Intrinsic      Value |   |
| Outstanding      at January 1, 2009         |   |   | -       |   |                | $      | -      |                      |   |   |                 |   |   |   |
| Granted                                     |   |   | 465,097 |   |                | $      | 2.37   |                      |   |   |                 |   |   |   |
| Exercised                                   |   |   | -       |   |                | $      | -      |                      |   |   |                 |   |   |   |
| Forfeited      or expired                   |   |   | (15,981 | )      |                | $      | 1.56   |                      |   |   |                 |   |   |   |
| Outstanding      at September 30, 2009      |   |   | 449,116 |   |                | $      | 2.40   |                      |   |   | 5.5                  |   |   | $ | 1,113,480 |   |
| Expected      to vest at September 30, 2009 |   |   | 424,741 |   |                | $      | 2.34   |                      |   |   | 5.5                  |   |   | $ | 1,070,199 |   |
| Exercisable      at September 30, 2009      |   |   | 161,616 |   |                | $      | 1.58   |                      |   |   | 5.2                  |   |   | $ | 512,855 |   |

| Expected      dividend yield         |   |   | 0      | %      |
|--------------------------------------|--------|--------|--------|--------|
| Risk-free      rate                  |   |   | 1.59   | %      |
| Expected      stock price volatility |   |   | 103.88 | %      |
| Expected      term (years)           |   |   | 3.1    |   |

----

| Years      Ending December 31,               |   |    |   |   |
|----------------------------------------------|--------|---------|--------|--------|
| 2010                                         |   | $  | 17,838 |   |
| 2011                                         |   |    | 6,143  |   |
| 2012                                         |   |    | 60     |   |
|                                         |   |    | 24,041 |   |
| Less      amount representing interest       |   |    | 2,146  |   |
| Present      value of minimum lease payments |   | $       | 21,895 |   |
| Short-term      portion                      |   | $       | 13,493 |   |
| Long-term      portion                       |   |    | 8,402  |   |
|                                         |   | $       | 21,895 |   |

| Fiscal      year ending December 31, |   | Minimum      Lease Commitments |   |
|--------------------------------------|--------|--------------------------------|--------|
| 2009                                 |   | $                              | 13,687 |   |
| 2010                                 |   |                           | 10,375 |   |
|                                 |   | $                              | 24,062 |   |

----

----

|                                                                                       |   | As Reported |       |   | Adjustments |    |         | As Restated |   |
|--------------------------------------------------------------------------------------------|--------|-------------|------------|--------|-------------|---------|--------------|-------------|--------|
| Consolidated Balance Sheet and Statement of      Stockholders' Deficit September 30, 2009: |   |        |       |   |        |    |         |        |   |
| Preferred      stock                                                                       |   | $           | -          |   |        |    |         |        | $      | - |   |
| Common      stock                                                                          |   |        | 2,736      |   |        |    |         |        |   | 2,736 |   |
| Treasury      stock                                                                        |   |        | (40        | )      |        |    |         |        |   | (40 | ) |
| Additional      paid-in capital                                                            |   |        | (187,719   | )      |        |    |         |        |   | (187,719 | ) |
| Accumulated      deficit                                                                   |   |        | (1,554,746 | )      |        | $  | 71,041       |        |   |   | (1,483,705 | ) |
| Accumulated      other comprehensive income                                                |   |        | 8,480      |   |        |    |         |        |   |   | 8,480 |   |
| Total      stockholders' deficit                                                           |   |        | (1,731,289 | )      |        |    |  71,041 |        |   |   | (1,660,248 | ) |
| Non-controlling      interest                                                              |   |        | -          |   |        |    | (71,041      | )           |   |   | (71,041 | ) |
| Total      deficit                                                                         |   | $           | (1,731,289 | )      |        |    |         |        |   | $ | (1,731,289 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Three Months Ended September 30,      2009:                                                |   |        |       |   |        |    |         |        |   |   |   |   |
| Net      loss                                                                              |   | $           | (513,434   | )      |        |    |         |        |   | $ | (513,434 | ) |
| Less:      Net loss attributable to the non-controlling    interest                        |   |        | -          |   |        | $  | 69,634       |        |   |   | 69,634 |   |
| Net      loss attributable to Midas Medici Group Holdings,    Inc.                         |   |        | (513,434   | )      |        |    |  69,634 |        |   |   | (443,800 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Preferred      stock dividends and dividend accretion                                      |   |        |       |   |        |    |         |        |   |   |   |   |
| Preferred      stock stated dividends                                                      |   |        | (41,708    | )      |        |    |         |        |   |   | (41,708 | ) |
| Preferred      stock dividend accretion                                                    |   |        | (30,377    | )      |        |    |         |        |   |   | (30,377 | ) |
| Net      loss applicable to common stockholders                                            |   | $           | (585,519   | )      |        |    | 69,634  |        |   | $ | (515,885 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Net      loss per common share (basic and diluted)                                         |   | $           | (0.37      | )      |        |    |         |        |   | $ | (0.32 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Weighted      average of common shares outstanding (basic and      diluted)                |   |        | 1,600,037  |   |        |    |         |        |   |   | 1,600,037 |   |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Nine Months Ended September 30,      2009:                                                 |   |        |       |   |        |    |         |        |   |   |   |   |
| Net      loss                                                                              |   | $           | (741,964   | )      |        |    |         |        |   | $ | (741,964 | ) |
| Less:      Net loss attributable to the non-controlling    interest                        |   |        | -          |   |        | $  | 71,041       |        |   |   | 71,041 |   |
| Net      loss attributable to Midas Medici Group Holdings,    Inc.                         |   |        | (741,964   | )      |        |    | 71,041       |        |   |   | (670,923 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Preferred      stock dividends and dividend accretion                                      |   |        |       |   |        |    |         |        |   |   |   |   |
| Preferred      stock stated dividends                                                      |   |        | (109,958   | )      |        |    |         |        |   |   | (109,958 | ) |
| Preferred      stock dividend accretion                                                    |   |        | (203,109   | )      |        |    |         |        |   |   | (203,109 | ) |
| Net      loss applicable to common stockholders                                            |   | $           | (1,055,031 | )      |        |    | 71,041       |        |   | $ | (983,990 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Net      loss per common share (basic and diluted)                                         |   | $           | (0.69      | )      |        |    |         |        |   | $ | (0.64 | ) |
|                                                                                       |   |        |       |   |        |    |         |        |   |   |   |   |
| Weighted      average of common shares outstanding (basic and      diluted)                |   |        | 1,531,736  |   |        |    |         |        |   |   | 1,531,736 |   |

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| •         | Our      ability to attract and retainmanagement, |
|---------------------------|---------------------------------------------------|

| •         | Our      ability to raise capital when needed and on acceptable terms and      conditions; |
|---------------------------|--------------------------------------------------------------------------------------------|

| •         | The      intensity of competition; and |
|---------------------------|----------------------------------------|

| •         | General      economic conditions. |
|---------------------------|-----------------------------------|

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| Part II.         | OTHER      INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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| Item      1.               | Legal      Proceedings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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|                       | None.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
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| Item      1A.              | Risk      Factors                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                       | Not      applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Item      2.               | Unregistered      Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                       | The      Company issued 80,000 shares of common stock on July 17, 2009, 30,000      shares of common stock on July 31, 2009 and 52,000 of common stock on      August 14, 2009 to investors for an aggregate purchase price of      $340,200.  On      August 21, 2009, in connection with the acquisition of Utilipoint, we      issued an aggregate of 1,348,516 shares of common stock to the Utilipoint      stockholders in exchange for 42,191 Utilipoint common shares and 172,597      options in exchange for 5,400 Utilipoint options. In addition, Knox      Lawrence International, LLC, KLI IP Holding, Inc. and UTP International      LLC, former shareholders of Utilipoint, acquired an aggregate of 889,444      shares of our common stock and 27,168 options at the closing of      the Merger. Nana Baffour, our CEO and Johnson Kachidza, our President, are      key shareholders of Knox Lawrence International, LLC, KLI IP Holding, Inc.      and UTP International, LLC. In addition, we issued options to purchase      25,000 shares of our common stock to David Steele, President of Utilipoint      and options to purchase 10,000 of our common stock each to Peter Shaw,      Managing Director of The Intelligent Project and Stephen Schweich, our      Director. We      believe that the offer and sale of the securities referenced were exempt      from registration under the Securities Act by virtue of Section 4(2)      of the Securities Act and/or Regulation D promulgated thereunder as      transactions not involving any public offering. All of the purchasers of      unregistered securities for which we relied on Section 4(2) and/or      Regulation D represented that they were accredited investors as      defined under the Securities Act, except for up to 35 non-accredited      investors. The purchasers in each case represented that they intended to      acquire the securities for investment only and not with a view to the      distribution thereof and that they either received adequate information      about the registrant or had access, through employment or other      relationships, to such information; appropriate legends were affixed to      the stock certificates issued in such transactions; and offers and sales      of these securities were made without general solicitation or      advertising.  |
|                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Item      3.               | Defaults      Upon Senior Securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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|                       | None.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
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| Item 4.          | Submission      of Matters to a Vote of Security Holders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
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|                       | None                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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| Item      5.               | Other      Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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|                       | None.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
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| Item      6.               | Exhibits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

| (a)   | Exhibits |
|-----------------|----------|

| Exhibit      Number |   | Description      of Exhibit                                                                                                                                                                                 |
|---------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                |   |                                                                                                                                                                                                        |
| 31                  |   | Certifications      of Principal Executive Officer and Principal Financial Officer pursuant to      Rule 13a-14 and Rule 15d-14(a), promulgated under the Securities Exchange      Act of 1934, as amended  |
|                |   |                                                                                                                                                                                                        |
| 32                  |   | Certifications      of Principal Executive Officer and Principal Financial Officer pursuant to      18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002  |

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|                   | Midas      Medici Group Holdings, Inc. |                                                                           |
|------------------------|----------------------------------------|--------------------------------------------------------------------------------|
|                   |                                   |                                                                           |   |
| December      23, 2009 | By:                                    | /s/      Nana Baffour                                                          |   |
|                   |                                   | Nana      Baffour                                                              |   |
|                   |                                   | Chief      Executive Officer (Principal Executive Officer)                     |   |
|                   |                                   |                                                                           |   |
|                   |                                   |                                                                           |   |
|                   |                                   |  /s/ Johnson      Kachidza                                           |   |
|                   |                                   | Johnson      Kachidza                                                          |   |
|                   |                                   | Chief      Financial Officer (Principal Financial and Accounting      Officer) |   |