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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

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**FORM      10-Q**

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**x**
** QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES      EXCHANGE ACT OF 1934**

**o**
**TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES      EXCHANGE ACT OF 1934**

*Commission      File Number: 0-24623*

**NEW      GENERATION HOLDINGS, INC.**

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| Delaware                                                                                    |   | 13-4056896                                          |
|---------------------------------------------------------------------------------------------|--------|-----------------------------------------------------|
| (State or other jurisdiction of incorporation ororganization) |   | (I.R.S. Employer Identification No.) |

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| Large accelerated filer                 o |    | Accelerated filer                  o              |
|----------------------------------------------------------|--------------|------------------------------------------------------------------|
| Non-accelerated filer                  o  |    | Smaller reporting company                  x |

**APPLICABLE      ONLY TO CORPORATE ISSUERS**

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**NEW      GENERATION HOLDINGS, INC.**

**Form      10-Q**

**For      the Quarter Ended September 30, 2008**

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**TABLE      OF CONTENTS**

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|                                              | Page                                                                                                                           |
|---------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|
| **PART                I - FINANCIAL INFORMATION** |                                                                                                                           |
|                                              |                                                                                                                           |   |
| Item                1.                            | Financial                Statements (Unaudited)                                                                                |   |
|                                              | Condensed                Consolidated Balance Sheet                                                                            | 3 |
|                                              | Condensed                Consolidated Statements of Losses                                                                     | 4 |
|                                              | Condensed                Consolidated Statement of Stockholders’ Deficiency                                              | 5 |
|                                              | Condensed                Consolidated Statements of Cash Flows                                                                 | 6 |
|                                              | Notes                to Condensed Consolidated Financial Statements                                                            | 7 |
| Item                2.                            | Management’s                Discussion and Analysis of Financial Condition and Results of                Operations | 12 |
| Item                3.                            | Quantitative                and Qualitative Disclosures About Market Risk                                                      | 15 |
| Item                4.                            | Controls                and Procedures                                                                                         | 15 |
| Item                4T.                           | Controls                and Procedures                                                                                         | 15 |
|                                              |                                                                                                                           |   |
| **PART                II - OTHER INFORMATION**    |                                                                                                                           |
|                                              |                                                                                                                           |
| Item                1.                            | Legal                Proceedings                                                                                               | 16 |
| Item                2.                            | Unregistered                Sales of Equity Securities and Use of Proceeds                                                     | 16 |
| Item                3.                            | Defaults                Upon Senior Securities                                                                                 | 16 |
| Item                4.                            | Submission                of Matters to a Vote of Security Holders                                                             | 16 |
| Item                5 .                           | Other                Information                                                                                               | 16 |
| Item                6.                            | Exhibits                                                                                                                       | 17 |

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|                                                                                                                                                                 |   | September 30, |        | December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-------------|-------------------|--------|
|                                                                                                                                                                 |   | 2008               |        | 2007              |   |
|                                                                                                                                                                 |   | (Unaudited)        |        |              |   |
| Assets                                                                                                                                                               |   |               |        |              |   |   |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Current                    assets:                                                                                                                                   |   |               |        |              |   |   |   |
| Cash                                                                                                                                                                 |   | $                  | -           |              | $      | - |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Total                    assets                                                                                                                                      |   | $                  | -           |              | $      | - |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Liabilities                    and deficiency in stockholders' equity                                                                                                |   |               |        |              |   |   |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Current                    liabilities:                                                                                                                              |   |               |        |              |   |   |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Accounts                    payable and accrued expenses:                                                                                                            |   | $                  | 493,460     |              | $      | 499,099 |   |
| Due                    to Plastinum                                                                                                                                  |   |               | 269,522     |              |   | 192,042 |   |
| Due                    to stockholder                                                                                                                                |   |               | -           |              |   | 207,429 |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Total                    current liabilities                                                                                                                         |   |               | 762,982     |              |   | 898,570 |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Deficiency                    in stockholders' equity:                                                                                                               |   |               |        |              |   |   |   |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Preferred                    stock, par value $.001 per share; 1,000,000 shares authorized,                    none issued                    and outstanding        |   |               | -           |              |   | - |   |
| Common                    stock, par value $.001 per share; 150,000,000 shares authorized,                    99,956,045 and 8,875,045 shares issued and outstanding |   |               | 99,956      |              |   | 8,875 |   |
| Additional                    paid-in capital                                                                                                                        |   |               | 38,399,662  |              |   | 38,283,314 |   |
| Other                    comprehensive income                                                                                                                        |   |               | 20,926      |              |   | 20,926 |   |
| Accumulated                    deficit prior to development stage                                                                                                    |   |               | (31,081,731 | )                 |   | (31,081,731 | ) |
| Deficit                    accumulated during the development stage                                                                                                  |   |               | (8,201,795  | )                 |   | (8,129,954 | ) |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Total                    deficiency in stockholders' equity                                                                                                          |   |               | (762,982    | )                 |   | (898,570 | ) |
|                                                                                                                                                                 |   |               |        |              |   |   |   |
| Total                    liabilities and deficiency in stockholders' equity                                                                                          |   | $                  | -           |              | $      | - |   |

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|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       | Cumulative Period            |   |
|--------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|------------|-----------------------------------------------------|--------|--------------------|--------|--------|------------|-----------------------------------|--------|
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       | from April 7, 2003 |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       | (Reestablishment of     |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       | Development Stage            |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       | Company) to                  |   |
|                                                                                                         |   | Three months ended September 30, |       | Nine months ended September 30, |   | September 30, |   |
|                                                                                                         |   | 2008                                                 |       | 2007                                                |   | 2008               |   | 2007   |       | 2008                              |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |
| Operating                  expenses:                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| General                  and administrative expenses                                                         |   | $                                                    | 20,206     |                                                | $      | 8,580              |   | $      | 71,841     |                              | $      | 89,064 |   | $ | 1,150,976 |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Total                  operating expenses                                                                    |   |                                                 | 20,206     |                                                |   | 8,580              |   |   | 71,841     |                              |   | 89,064 |   |   | 1,150,976 |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Loss                  from continuing operations before other income (expense)                               |   |                                                 | (20,206    | )                                                   |   | (8,580             | )      |   | (71,841    | )                                 |   | (89,064 | ) |   | (1,150,976 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Change                  in value of warrant liability                                                        |   |                                                 | -          |                                                |   | -                  |   |   | -          |                              |   | 1,102,832 |   |   | (6,254,174 | ) |
| Interest                  expense                                                                            |   |                                                 | -          |                                                |   | -                  |   |   | -          |                              |   | - |   |   | (796,645 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Income                  (loss) from continuing operations before provision for income                  taxes |   |                                                 | (20,206    | )                                                   |   | (8,580             | )      |   | (71,841    | )                                 |   | 1,013,768 |   |   | (8,201,795 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Provision                  for income taxes                                                                  |   |                                                 | -          |                                                |   | -                  |   |   | -          |                              |   | - |   |   | - |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Net                  income (loss) from continuing operations                                                |   |                                                 | (20,206    | )                                                   |   | (8,580             | )      |   | (71,841    | )                                 |   | 1,013,768 |   |   | (8,201,795 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Loss                  from discontinued operations, net of tax                                               |   |                                                 | -          |                                                |   | -                  |   |   | -          |                              |   | (196,224 | ) |   | (5,267,038 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Net                  income (loss)                                                                           |   |                                                 | (20,206    | )                                                   |   | (8,580             | )      |   | (71,841    | )                                 |   | 817,544 |   |   | (13,468,833 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Preferred                  dividend                                                                          |   |                                                 | (207,429   | )                                                   |   | -                  |   |   | (207,429   | )                                 |   | - |   |   | (207,429 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Net                  income (loss) attributable to common shareholders                                       |   | $                                                    | (227,635   | )                                                   | $      | (8,580             | )      | $      | (279,270   | )                                 | $      | 817,544 |   | $ | (13,676,262 | ) |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Net                  income (loss) per common share, basic and diluted                                       |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Continuing                  operations                                                                       |   | $                                                    | (0.00      | )                                                   | $      | (0.00              | )      | $      | (0.01      | )                                 | $      | 0.12 |   |   |   |   |
| Discontinued                  operations                                                                     |   |                                                 | -          |                                                |   | -                  |   |   | -          |                              |   | (0.02 | ) |   |   |   |
|                                                                                                         |   | $                                                    | (0.00      | )                                                   | $      | (0.00              | )      | $      | (0.01      | )                                 | $      | 0.10 |   |   |   |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Weighted                  average shares outstanding, basic and diluted                                      |   |                                                 | 69,265,708 |                                                |   | 8,874,997          |   |   | 29,152,202 |                              |   | 8,163,975 |   |   |   |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Comprehensive                  income (loss):                                                                |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Net                  income (loss)                                                                           |   | $                                                    | (20,206    | )                                                   | $      | (8,580             | )      | $      | (71,841    | )                                 | $      | 817,544 |   |   |   |   |
| Foreign                  currency translation loss                                                           |   |                                                 | -          |                                                |   | -                  |   |   | -          |                              |   | - |   |   |   |   |
|                                                                                                         |   |                                                 |       |                                                |   |               |   |   |       |                              |   |   |   |   |   |   |
| Comprehensive                  income (loss)                                                                 |   | $                                                    | (20,206    | )                                                   | $      | (8,580             | )      | $      | (71,841    | )                                 | $      | 817,544 |   |   |   |   |

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|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   | Accumulated Deficit |       |          |   |                     |   |
|--------------------------------------------------------------------------------------------------------------------|--------|----------------------|--------------|-------------------|--------|--------------------|--------|----------------|--------------------|-------------|--------|--------------------|--------|--------------------------|------------|---------------|--------|--------------------------|--------|
|                                                                                                               |   |                 |         |              |   |               |   |           |               | Additional  |   | Common        |   | Prior to            |       | During        |   | Other                    |   |   |   |
|                                                                                                               |   | Preferred Stock |         | Common Stock |   | Paid-in            |   | Stock          |               | Development |   | Development        |   | Comprehensive       |       | Stockholders' |   |
|                                                                                                               |   | Shares               |         | Par value    |   | Shares             |   | Par value |               | Capital     |   | Subscribed         |   | Stage                    |       | Stage         |   | Income                   |   | Deficiency |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |
| Balance, December 31, 2002                                                                          |   |                 | -       |              | $      | -                  |   |           | 2,105,716          |        | $      | 2,106              |   | $                        | 29,655,004 |          | $      | -                        |   | $ | (34,634,693 | ) | $ | - |   | $ | - |   | $ | (4,977,583 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Disposition                  of previously controlled wholly and majority owned subsidiaries,                  net |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | 3,882,801 |   |   | - |   |   | - |   |   | 3,882,801 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss from January 1, 2003 to April 7, 2003                                                    |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | (329,839 | ) |   | - |   |   | - |   |   | (329,839 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  April 7, 2003                                                                            |   |                 | -            |              |   | -                  |   |           | 2,105,716          |        |   | 2,106              |   |                     | 29,655,004 |          |   | -                        |   |   | (31,081,731 | ) |   | - |   |   | - |   |   | (1,424,621 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss                                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | (330,321 | ) |   | - |   |   | (330,321 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2003                                                                        |   |                 | -            |              |   | -                  |   |           | 2,105,716          |        |   | 2,106              |   |                     | 29,655,004 |          |   | -                        |   |   | (31,081,731 | ) |   | (330,321 | ) |   | - |   |   | (1,754,942 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sale                  of common stock                                                                              |   |                 | -            |              |   | -                  |   |           | 650,012            |        |   | 650                |   |                     | 649,364    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 650,014 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  stock subscribed                                                                           |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | 54,600                   |   |   | - |   |   | - |   |   | - |   |   | 54,600 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shares                  physically issued                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency                  translation adjustment                                                                   |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | - |   |   | 14,383 |   |   | 14,383 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss                                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | (620,770 | ) |   | - |   |   | (620,770 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2004                                                                        |   |                 | -            |              |   | -                  |   |           | 2,755,728          |        |   | 2,756              |   |                     | 30,304,368 |          |   | 54,600                   |   |   | (31,081,731 | ) |   | (951,091 | ) |   | 14,383 |   |   | (1,656,715 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sale                  of common stock                                                                              |   |                 | -            |              |   | -                  |   |           | 1,801,415          |        |   | 1,801              |   |                     | 1,799,614  |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 1,801,415 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Warrants                  issued for services                                                                      |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 21,100     |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 21,100 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shares                  physically issued                                                                          |   |                 | -            |              |   | -                  |   |           | 54,600             |        |   | 55                 |   |                     | 54,545     |          |   | (54,600                  | )      |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  stock subscribed                                                                           |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | 131,300                  |   |   | - |   |   | - |   |   | - |   |   | 131,300 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Beneficial                  conversion feature                                                                     |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 753,304    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 753,304 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification                  of warrants to liabilities                                                       |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | (4,275,966 | )             |   | -                        |   |   | - |   |   | - |   |   | - |   |   | (4,275,966 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency                  translation adjustment                                                                   |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | - |   |   | 14,586 |   |   | 14,586 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss                                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | (4,743,560 | ) |   | - |   |   | (4,743,560 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2005 - restated                                                             |   |                 | -            |              |   | -                  |   |           | 4,611,743          |        |   | 4,612              |   |                     | 28,656,965 |          |   | 131,300                  |   |   | (31,081,731 | ) |   | (5,694,651 | ) |   | 28,969 |   |   | (7,954,536 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shares                  physically issued                                                                          |   |                 | -            |              |   | -                  |   |           | 131,300            |        |   | 131                |   |                     | 131,169    |          |   | (131,300                 | )      |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sale                  of common stock                                                                              |   |                 | -            |              |   | -                  |   |           | 256,830            |        |   | 257                |   |                     | 256,573    |          |   |                     |   |   | - |   |   | - |   |   | - |   |   | 256,830 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Conversion                  of debt                                                                                |   |                 | 528,630      |              |   | 529                |   |           | -                  |        |   | -                  |   |                     | 796,116    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 796,645 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Warrants                  issued with debt                                                                         |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 126,700    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 126,700 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock                  based compensation                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 240,268    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 240,268 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification                  of warrants to liabilities                                                       |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | (792,426   | )             |   | -                        |   |   | - |   |   | - |   |   | - |   |   | (792,426 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification                  of liabilities to warrants                                                       |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 272,043    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 272,043 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Subsidiary                  stock issued for accrued expenses                                                      |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 633,595    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 633,595 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Currency                  translation adjustment                                                                   |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | - |   |   | (8,043 | ) |   | (8,043 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss                                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | (8,583,596 | ) |   | - |   |   | (8,583,596 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2006                                                                        |   |                 | 528,630      |              |   | 529                |   |           | 4,999,873          |        | $      | 5,000              |   | $                        | 30,321,003 |          | $      | -                        |   | $ | (31,081,731 | ) | $ | (14,278,247 | ) | $ | 20,926 |   | $ | (15,012,520 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  stock issued upon conversion of preferred stock                                            |   |                 | (528,630     | )                 |   | (529               | )      |           | 3,867,208          |        |   | 3,867              |   |                     | (3,338     | )             |   |                     |   |   |   |   |   |   |   |   |   |   |   | - |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification                  of warrant liability to permanent equity                                         |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     | 11,050,524 |          |   |                     |   |   |   |   |   |   |   |   |   |   |   | 11,050,524 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance                  of warrants for accrued expense                                                          |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     | 442,070    |          |   |                     |   |   |   |   |   |   |   |   |   |   |   | 442,070 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  stock issued for accrued services                                                          |   |                 |         |              |   |               |   |           | 7,964              |        |   | 8                  |   |                     | 10,808     |          |   |                     |   |   |   |   |   |   |   |   |   |   |   | 10,816 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock                  based compensation                                                                          |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     | (86,096    | )             |   |                     |   |   |   |   |   |   |   |   |   |   |   | (86,096 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income                                                                                        |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   | 881,255 |   |   |   |   |   | 881,255 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Adjustment                  for deconsolidation of former subsidiary                                               |   |                 |    |              |   |     |   |           |     |        |   |     |   |                     | (3,451,657 | )             |   |      |   |   |    |   |   | 5,267,038 |   |   |    |   |   | 1,815,381 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  December 31, 2007                                                                        |   |                 | -            |              |   | -                  |   |           | 8,875,045          |        |   | 8,875              |   |                     | 38,283,314 |          |   | -                        |   |   | (31,081,731 | ) |   | (8,129,954 | ) |   | 20,926 |   |   | (898,570 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred                  stock issued as payment of debt to stockholder                                          |   |                 | 91,081       |              |   | 91                 |   |           | -                  |        |   | -                  |   |                     | 207,338    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 207,429 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Beneficial                  conversion feature of preferred stock                                                  |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | 207,429    |          |   | -                        |   |   | - |   |   | - |   |   | - |   |   | 207,429 |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dividend                  on preferred stock attributable to beneficial conversion                  feature        |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | (207,429   | )             |   | -                        |   |   | - |   |   | - |   |   | - |   |   | (207,429 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  stock issued upon conversion of preferred stock                                            |   |                 | (91,081      | )                 |   | (91                | )      |           | 91,081,000         |        |   | 91,081             |   |                     | (90,990    | )             |   | -                        |   |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss                                                                                          |   |                 | -            |              |   | -                  |   |           | -                  |        |   | -                  |   |                     | -          |          |   | -                        |   |   | - |   |   | (71,841 | ) |   | - |   |   | (71,841 | ) |
|                                                                                                               |   |                 |         |              |   |               |   |           |               |        |   |               |   |                     |       |          |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  September 30, 2008                                                                       |   |                 | -            |              | $      | -                  |   |           | 99,956,045         |        | $      | 99,956             |   | $                        | 38,399,662 |          | $      | -                        |   | $ | (31,081,731 | ) | $ | (8,201,795 | ) | $ | 20,926 |   | $ | (762,982 | ) |

----

|                                                                                                     |   |                                                |    |               |   | Cumulative Period            |   |
|---------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------|---------|--------------------|--------|-----------------------------------|--------|
|                                                                                                          |   |                                                |    |               |   | from April 7, 2003 |   |
|                                                                                                          |   |                                                |    |               |   | (Reestablishment of          |   |
|                                                                                                          |   |                                                |    |               |   | Development Stage            |   |
|                                                                                                          |   |                                                |    |               |   | Company) to                  |   |
|                                                                                                          |   | Nine Months ended September 30, |    | September 30, |   |
|                                                                                                          |   | 2008                                                |    | 2007               |   | 2008                              |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |
| Cash                  flows from operating activities:                                                        |   |                                                |    |               |   |                              |   |   |   |   |
| Net                  income (loss)                                                                            |   | $                                                   | (71,841 | )                  | $      | 817,544                           |   | $ | (13,468,833 | ) |
| Adjustments                  to reconcile net loss to net cash used in operating                  activities: |   |                                                |    |               |   |                              |   |   |   |   |
| Warrants                  issued for services                                                                 |   |                                                | -       |               |   | -                                 |   |   | 21,100 |   |
| Stock                  based compensation                                                                     |   |                                                | -       |               |   | (86,096                           | )      |   | 154,172 |   |
| Amortization                  of debt discount                                                                |   |                                                | -       |               |   | 5,430                             |   |   | 774,481 |   |
| Change                  in value of warrant liability                                                         |   |                                                | -       |               |   | (1,102,832                        | )      |   | 6,254,174 |   |
| Expenses                  paid by Plastinum                                                                   |   |                                                | 77,480  |               |   | 318                               |   |   | 139,856 |   |
| Gain                  on settlement of payables                                                               |   |                                                |    |               |   |                              |   |   | (44,675 | ) |
| Interest                  converted to preferred stock                                                        |   |                                                | -       |               |   | -                                 |   |   | 43,341 |   |
| Depreciation                                                                                                  |   |                                                | -       |               |   | -                                 |   |   | 107,790 |   |
| Loss                  attributed to minority interest                                                         |   |                                                | -       |               |   | (5,611                            | )      |   | (46,366 | ) |
| Increase                  (decrease) in liabilities:                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Accounts                  payable                                                                             |   |                                                | (5,639  | )                  |   | 111,757                           |   |   | 1,473,837 |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Cash                  used in operating activities                                                            |   |                                                | -       |               |   | (259,490                          | )      |   | (4,591,123 | ) |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Cash                  flows from financing activities:                                                        |   |                                                |    |               |   |                              |   |   |   |   |
| Cash                  retained by former subsidiary                                                           |   |                                                | -       |               |   | (36,893                           | )      |   | (36,893 | ) |
| Advances                  from stockholder                                                                    |   |                                                | -       |               |   | 256,957                           |   |   | 712,335 |   |
| Proceeds                  from sale of convertible notes                                                      |   |                                                | -       |               |   | -                                 |   |   | 500,000 |   |
| Proceeds                  from sale of common stock                                                           |   |                                                | -       |               |   | -                                 |   |   | 3,394,755 |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Cash                  provided by financing activities                                                        |   |                                                | -       |               |   | 220,064                           |   |   | 4,570,197 |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Effect                  of exchange rate changes on cash                                                      |   |                                                | -       |               |   | -                                 |   |   | 20,926 |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Net                  (decrease) increase in cash                                                              |   |                                                | -       |               |   | (39,426                           | )      |   | - |   |
| Cash,                  beginning of period                                                                    |   |                                                | -       |               |   | 39,426                            |   |   | - |   |
| Cash,                  end of period                                                                          |   | $                                                   | -       |               | $      | -                                 |   | $ | - |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Supplemental                  disclosure of non-cash financing activities:                                    |   |                                                |    |               |   |                              |   |   |   |   |
|                                                                                                          |   |                                                |    |               |   |                              |   |   |   |   |
| Preferred                  stock issued as settlement of stockholder debt                                     |   | $                                                   | 207,429 |               | $      | -                                 |   |   |   |   |
| Beneficial                  conversion feature of preferred stock                                             |   |                                                | 207,429 |               |   | -                                 |   |   |   |   |
| Dividend                  on preferred stock attributable to beneficial conversion                  feature   |   |                                                | 207,429 |               |   | -                                 |   |   |   |   |
| Warrants                  issued for accrued consulting                                                       |   |                                                | -       |               |   | 442,070                           |   |   |   |   |
| Reclassification                  of warrant liability to equity                                              |   |                                                | -       |               |   | 11,050,524                        |   |   |   |   |
| Expenses                  paid by former subsidiary                                                           |   |                                                | 77,480  |               |   | 114,485                           |   |   |   |   |

----

**NEW        GENERATION HOLDINGS, INC.**

**NOTES        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE        A - SUMMARY OF ACCOUNTING POLICIES**

**Business**

**Basis        of Presentation**

----

**Going        Concern**

**Use        of Estimates**

**Liquidity**

**Net        Earnings (Loss) Per Share**

----

**Recent        Accounting Pronouncements**

*Fair        Value Measurements*

*The        Fair Value Option for Financial Assets and Financial Liabilities-Including        an        Amendment of FASB Statement No. 115*

*Business        Combinations*
*Noncontrolling        Interests in Consolidated Financial Statements,*
*an        amendment of ARB No. 51*

----

*Disclosures        About Derivative Instruments and Hedging Activities,*
*an        amendment of FASB Statement No. 133*
*FASB        Statement No. 133*

**NOTE        B -CAPITAL STOCK**

----

**NOTE C        - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES**

|                              |   | **2008** |    |
|-----------------------------------|--------|----------|---------|
| Accounts                  payable |   | $        | 130,778 |   |
| Accrued                  expenses |   |     | 362,682 |   |
| Total                             |   | $        | 493,460 |   |

**NOTE D        - RELATED PARTY TRANSACTIONS**

----

| **ITEM                2.** | **MANAGEMENT'S                DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF                OPERATION** |
|----------------------------|------------------------------------------------------------------------------------------------------------------------|

**Recent      Development – Reverse Split and Ownership of 95% of Company by      CEO**

**Critical      Accounting Policies**

***Use      of Estimates***

***Going      Concern***

----

**Recent      Accounting Pronouncements**

*Fair      Value Measurements*

*The      Fair Value Option for Financial Assets and Financial Liabilities-Including      an      Amendment of FASB Statement No. 115*

*Business      Combinations*
*Noncontrolling      Interests in Consolidated Financial Statements,*
*an      amendment of ARB No. 51*

*Disclosures      About Derivative Instruments and Hedging Activities,*
*an      amendment of FASB Statement No. 133*
*FASB      Statement No. 133*

**MANAGEMENT'S      PLAN OF OPERATION**

----

**RESULTS      OF OPERATIONS**

**THREE      MONTHS ENDED SEPTEMBER 30, 2008**
**COMPARED      TO THE THREE MONTHS ENDED SEPTEMBER 30, 2007**

**NINE      MONTHS ENDED SEPTEMBER 30, 2008** **COMPARED      TO THE NINE MONTHS ENDED SEPTEMBER 30, 2007**

**LIQUIDITY      AND CAPITAL RESOURCES**

----

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

| **ITEM                4.** | **CONTROLS                AND PROCEDURES** |
|----------------------------|--------------------------------------------|

| **ITEM                4T.** | **CONTROLS                AND PROCEDURES** |
|-----------------------------|--------------------------------------------|

**Evaluation      of Disclosure Controls and Procedures**

**Changes      in Internal Control over Financial Reporting**

----

**PART      II - OTHER INFORMATION**

| **ITEM                1.** | **LEGAL                PROCEEDINGS** |
|----------------------------|--------------------------------------|

| **ITEM                2.** | **UNREGISTERED                SALES OF EQUITY SECURITIES AND USE OF                PROCEEDS** |
|----------------------------|-----------------------------------------------------------------------------------------------|

| **ITEM                3.** | **DEFAULTS                UPON SENIOR SECURITIES** |
|----------------------------|----------------------------------------------------|

| **ITEM                4.** | **SUBMISSION                OF MATTERS TO A VOTE OF SECURITY                HOLDERS** |
|----------------------------|---------------------------------------------------------------------------------------|

On      July      7, 2008 we held our Annual Meeting of Stockholders. At the meeting (i) each      of      Jacques Mot and Marcel Rokegem was elected as a Director of the Company, (ii)      the amendment to the Company’s Certificate of Incorporation effecting a 1-for-10      reverse stock split of the Company’s Common Stock was approved by a majority of      outstanding shares of our common stock, (iii) the Debt Exchange Agreement      previously effected by the Company with its President and Chief Executive      Officer, Jacques Mot, pursuant to which Mr. Mot exchanged all outstanding cash      advances made to the Company by Mr. Mot through December 31, 2007 for 91,081      shares of the Company’s Series B Preferred Stock which, with approval of the      reverse stock split, converted into 91,081,000 post-reverse split shares of      Common Stock of the Company, was ratified by the vote of a majority of      outstanding shares of our common stock (excluding shares held by Mr. Mot) and      (iv) the appointment of RBSM LLP as independent auditors of the Company for      the      fiscal year ending December 31, 2008 was ratified by a majority of the votes      cast at the meeting. The following is a summary of the number of votes cast      for,      against or withheld on each matter voted upon at the meeting as well as the      number of abstentions as to each matter:

| **MATTER**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **VOTES****FOR** |       | **VOTES****AGAINST/****WITHHELD** |   | **VOTES****ABSTAINING** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|------------|-----------------------------------|--------|-------------------------|--------|
| To                  elect the following Directors to hold office until the next Annual                  Meeting                  and until their successors are elected and qualified:                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |       |                              |   |                    |   |
| Jacques                  Mot                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             | 75,544,084 |                              |   | 1,500                   |   |   | - |   |
| Marcel                  Rokegem                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |             | 75,544,084 |                              |   | 1,500                   |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |       |                              |   |                    |   |   |   |   |
| To                  approve an amendment to the Company’s Certificate of Incorporation                  effecting a 1-for-10 reverse stock split of the Company’s Common                  Stock                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             | 75,349,405 |                              |   | 196,178                 |   |   | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |       |                              |   |                    |   |   |   |   |
| To                  ratify the Debt Exchange Agreement previously effected by the Company                  with                  its President and Chief Executive Officer, Jacques Mot, pursuant to which                  Mr. Mot exchanged all outstanding cash advances made to the Company                  by Mr.                  Mot through December 31, 2007 for 91,081 shares of the Company’s Series B                  Preferred Stock which, assuming approval of the reverse stock split,                  convert into 91,081,000 post-reverse split shares of Common Stock                  of the                  Company |   |             | 25,146,929 |                              |   | 2,000                   |   |   | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |       |                              |   |                    |   |   |   |   |
| To                  ratify the appointment of RBSM LLP as independent auditors of the                  Company                  for the fiscal year ending December 31, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             | 75,545,584 |                              |   | 0                       |   |   | 0 |   |

| **ITEM                5.** | **OTHER                INFORMATION** |
|----------------------------|--------------------------------------|

----

| **ITEM                6.** | **EXHIBITS** |
|----------------------------|--------------|

|                            | **Exhibit                No.** |   | **Description**                                                                                                                                                                                                    |
|---------------------------------|--------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                            |                           |   |                                                                                                                                                                                                               |
| &                && | 3.1                            |   | Certificate                of Incorporation                                                                                                                                                                        |
|                            |                           |   |                                                                                                                                                                                                               |
| ++                              | 3.2                            |   | By-Laws                                                                                                                                                                                                            |
|                            |                           |   |                                                                                                                                                                                                               |
| ***                             | 3.3                            |   | Certificate                of Designation of Series B Preferred Stock                                                                                                                                              |
|                            |                           |   |                                                                                                                                                                                                               |
| ++                              | 4.1                            |   | Specimen                Certificate for Common Stock                                                                                                                                                               |
|                            |                           |   |                                                                                                                                                                                                               |
| ++                              | 4.2                            |   | Form                of Warrant at $0.35 expiring 3 years after issuance                date                                                                                                                        |
|                            |                           |   |                                                                                                                                                                                                               |
| &&&&            | 4.3                            |   | Form                of Warrant to Purchase Common Stock issued to certain consultants                on March                7, 2007.                                                                              |
|                            |                           |   |                                                                                                                                                                                                               |
| +                               | 10.1                           |   | Consulting                Agreement of Jacques Mot dated as of April 15, 1999.                                                                                                                                     |
|                            |                           |   |                                                                                                                                                                                                               |
| +++                             | 10.5                           |   | Consulting                Agreement by and between New Generation Holdings, Inc and Jacques                Mot                dated as of July 5, 2000.                                                            |
|                            |                           |   |                                                                                                                                                                                                               |
| *                               | 10.6                           |   | Demand                Promissory Note in favor of Jacques Mot dated December 31,                2002.                                                                                                              |
|                            |                           |   |                                                                                                                                                                                                               |
| **                              | 10.11                          |   | Engagement                Letter between New Generation Holdings, Inc. and Robert S. Scherne,                CPA,                PC dated February 10, 2006.                                                       |
|                            |                           |   |                                                                                                                                                                                                               |
| **                              | 10.12                          |   | Consulting                Agreement between New Generation Holdings, Inc. and Clanders Inv.                Ltd.                dated March 15, 2006.                                                               |
|                            |                           |   |                                                                                                                                                                                                               |
| **                              | 10.13                          |   | Consulting                Agreement between New Generation Holdings, Inc. and Patrick                Hellinckx dated March 15, 2006.                                                                     |
|                            |                           |   |                                                                                                                                                                                                               |
| **                              | 10.14                          |   | Consulting                Agreement between New Generation Holdings, Inc. and Jan Rasschaert                dated                March 15, 2006.                                                                   |
|                            |                           |   |                                                                                                                                                                                                               |
| **                              | 10.15                          |   | Consulting                Agreement between New Generation Holdings, Inc. and Polymer                Consulting Limited dated March 15, 2006.                                                            |
|                            |                           |   |                                                                                                                                                                                                               |
| **                              | 10.16                          |   | Consulting                Agreement between New Generation Holdings, Inc. and Volarder Corp.                Ltd. dated March 15, 2006.                                                                   |
|                            |                           |   |                                                                                                                                                                                                               |
| &&                      | 10.17                          |   | Election                to Convert and Amendment to Exchange Agreement among New Generation                Holdings, Inc., Plastinum Corp. and Jacques Mot dated as of July                10,                2006 |
|                            |                           |   |                                                                                                                                                                                                               |
| &&                      | 10.18                          |   | Advisory                Agreement between New Generation Holdings, Inc. and Valley Road Capital,                dated July 10, 2006.                                                                               |
|                            |                           |   |                                                                                                                                                                                                               |
| ***                             | 10.19                          |   | Debt                Exchange Agreement between New Generation Holdings, Inc. and Jacques                Mot                dated December 31, 2007.                                                                |
|                            |                           |   |                                                                                                                                                                                                               |
| &                           | 31.1                           |   | Certificate                pursuant to section 302 of the Sarbanes-Oxley Act of                2002.                                                                                                               |
|                            |                           |   |                                                                                                                                                                                                               |
| &                           | 31.2                           |   | Certificate                pursuant to section 302 of the Sarbanes-Oxley Act of                2002.                                                                                                               |
|                            |                           |   |                                                                                                                                                                                                               |
| &                           | 32.1                           |   | Certificate                pursuant to section 906 of the Sarbanes-Oxley Act of                2002.                                                                                                               |
|                            |                           |   |                                                                                                                                                                                                               |
| &                           | 32.2                           |   | Certificate                pursuant to section 906 of the Sarbanes-Oxley Act of                2002.                                                                                                               |

----

| &           | Filed                herewith.                                                                                                                         |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|            |                                                                                                                                                   |
| &&      | Incorporated                by reference to the Company’s Form 8-K filed on July 12,                2006                                         |
|            |                                                                                                                                                   |
| &&& | Incorporated                by reference to the Company’s Form 10-KSB for the year ended December 31,                2007 filed on March 7, 2007 |

----

| &&&& | Incorporated                by reference to the Company’s Form 10-QSB for the period ended March 31,                2007 filed on May 11, 2007                                                             |
|----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                             |
| +                    | Incorporated                by reference to the Company's Form 10-QSB for the period ending June                30,                1999 filed on August 23, 1999.                                                |
|                 |                                                                                                                                                                                                             |
| ++                   | Incorporated                by reference to the Company's Form 10-KSB for the period beginning                April                15, 1999 and ending December 31, 1999 filed on March 30,                2000. |
|                 |                                                                                                                                                                                                             |
| +++                  | Incorporated                by reference to the Company's Form 10-KSB for year ended December                31, 2000                filed on April 16, 2001.                                                    |
|                 |                                                                                                                                                                                                             |
| *                    | Incorporated                by reference to the Company's Form 10-KSB for the year ended December                31,                2002 filed on February 15, 2004.                                             |
| **                   | Incorporated                by reference to the Company's Form 10-KSB for year ended December                31, 2005                filed on April 11, 2006                                                     |
|                 |                                                                                                                                                                                                             |
| ***                  | Incorporated                by reference to the Company’s Form 8-K filed on January 3,                2008.                                                                                                |

----

**SIGNATURES**

|                                        | **NEW                GENERATION HOLDINGS, INC.*****(Registrant)*** |
|---------------------------------------------|--------------------------------------------------------------------|
|                                        |                                                               |   |
| Date: November                11, 2008 | By:                                                      | /s/                Jacques Mot |
|                                        |                                                               | Name: Jacques MotTitle: President and Chief Executive Officer |
|                                        |                                                               |   |
| Date: November                11, 2008 | By:                                                      | /s/                Robert Scherne |
|                                        |                                                               | Name: Robert ScherneTitle: Chief Financial Officer |

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