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| x      | ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT      OF 1934                                         |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|
|   |    For      the fiscal year ended December 31, 2008                                                                          |
|   | OR                                                                                                                                               |
| o      | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT      OF 1934                                     |
|   |    For      the transition period      from              to |

| UNITED      ESYSTEMS, INC.                                          |
|---------------------------------------------------------------------|
| (Exact      name of registrant as specified in its charter)         |
|                                                                |   |   |
| Nevada                                                              |   | 91-2150635 |
| (State      or other jurisdiction of incorporation or organization) |   | (IRS      Employer Identification No.) |
|                                                                |   |   |
| 15431      O’Neal Road, Gulfport, Mississippi                 |   | 39503 |
| (Address      of Principal Executive Offices)                       |   | (Zip      Code) |
|                                                                |   |   |
| Registrant’s      telephone number, including area code:      |   | (228) 832-1597 |
|                                                                |   |   |
| Securities      registered pursuant to Section 12(b) of the Act:    |   | None |
|                                                                |   |   |
| Securities      registered pursuant to Section 12(g) of the Act:    |   | Common      Stock, $.001 ParValue |

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

| Class                              | Outstanding      at March 30, 2009 |
|------------------------------------|-----------------------------------------|
| Common      Stock, $.001 par value | 34,316,667      shares                  |

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|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Page   |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| PART I           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 1.     | Business                                                                                                                                                                              | 4      |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 1A.    | Risk      Factors                                                                                                                                                                     | 14     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 1B.    | Unresolved Staff      Comments                                                                                                                                                        | 17     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 2.     | Properties                                                                                                                                                                            | 18     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 3.     | Legal      Proceedings                                                                                                                                                                | 18     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 4.     | Submission of Matters to a Vote of Security      Holders                                                                                                                              | 18     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| PART II          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 5.     | Market for Common Stock, Related Stockholder Matters and      Issuer Purchases of Equity Securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 19     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 6.     | Selected Financial      Data                                                                                                                                                          | 19     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 7.     | Management’s Discussion and Analysis of Financial Condition      and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 20     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 7A.    | Quantitative and Qualitative Disclosures About Market      Risk                                                                                                                       | 27     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 8.     | Financial Statements and Supplementary      Data                                                                                                                                      | 27     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 9.     | Changes in and Disagreements with Accountants on Accounting      and Financial Disclosures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 27     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 9A(T). | Controls and      Procedures                                                                                                                                                          | 27     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 9B.    | Other      Information                                                                                                                                                                | 28     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| PART III    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 10.    | Directors, Executive Officers and Corporate      Governance                                                                                                                           | 29     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 11.    | Executive      Compensation                                                                                                                                                           | 32     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 12.    | Security Ownership of Certain Beneficial Owners and      Management and Related Stockholder Matters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 34     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 13.    | Certain Relationships and Related Transactions, and Director      Independence                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 36     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 14.    | Principal Accountant Fees and      Services                                                                                                                                           | 37     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| PART IV     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| Item 15.    | Exhibits and Financial Statement      Schedules                                                                                                                                       | 38     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| SIGNATURES       | 40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

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|   | · | general      economic and industry conditions; |
|--------|--------|------------------------------------------------|

|   | · | our      capital requirements and dependence on the sale of our equity      securities; |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | · | the      liquidity of the Company’s common stock will be affected by the lack of a      trading market; |
|--------|--------|---------------------------------------------------------------------------------------------------------------|

|   | · | intense      industry competition; |
|--------|--------|------------------------------------|

|   | · | fluctuations      in the prevailing industry prices of check processing      services; |
|--------|--------|----------------------------------------------------------------------------------------|

|   | · | shortages      in availability of qualifiedpersonnel; |
|--------|--------|-------------------------------------------------------|

|   | · | legal      and financial implications of unexpected catastrophic    events; |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | regulatory      or legislative changes effecting check processing operations;      and |
|--------|--------|----------------------------------------------------------------------------------------|

|   | · | reliance      on, and the ability to attract, keypersonnel. |
|--------|--------|-------------------------------------------------------------|

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|   | · | Work      with us to benefit from building a developing, entrepreneurial      company; |
|--------|--------|----------------------------------------------------------------------------------------|

|   | · | Participate      in an attractive, results-oriented compensation package;    and |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | Receive      additional incentive compensation by marketing other products and services      we offer in conjunction with ACH processing  services. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

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| Revenue:                                                                                                                                                                                                                 |               | 2008Dollars |                                                                                             | Percentage         |                                                                                             |   | 2007Dollars        |   | Percentage                                                                                       |               |                                                                                             | VarianceDollars |               |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|-------------|--------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------|-----------------|--------------------|
|                                      |     |        |                  |     |                  |   |     |   |                  |     |                  |            |     |   |                  |   |
|   ACH Processing                                                                                                                                                                                          |     | $           | 941,492                                                                                          |     | 52.6                                                                                             | %      |     | $      | 1,087,121                                                                                        |     | 92.0                                                                                             | %               |     | $ |  (145,629 | ) |
|   Verification Services                                                                                                                                                                                   |               | $           | 165,946                                                                                          |               |  9.3                                                                                        | %      |               | $      | 64,001                                                                                           |               | 5.4                                                                                              | %               |               | $ | 101,945 |   |
|   Credit      Card Services                                                                                                                                                                                    |               | $           | 681,770                                                                                          |               | 38.1                                                                                             | %      |               | $      | 30,651                                                                                           |               | 2.6                                                                                              | %               |               | $ | 651,119 |   |
| Total      Revenue                                                                                                                                                                                                       |               | $           | 1,789,208                                                                                        |               | 100.0                                                                                            | %      |               | $      | 1,181,773                                                                                        |               | 100.0                                                                                            | %               |               | $ | 607,435 |   |

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| Cost      of Revenue:                                                                                                                                                                                                    |               | 2008Dollars |                                                                                             | Percentage         |                                                                                             |   | 2007Dollars        |   | Percentage                                                                                       |               |                                                                                             | VarianceDollars |               |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|-------------|--------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------|-----------------|--------------------|
|                                      |     |        |                  |     |                  |   |     |   |                  |     |                  |            |     |   |                  |   |
|   ACH Costs                                                                                                                                                                                               |               | $           | 248,237                                                                                          |               | 35.1                                                                                             | %      |               | $      | 244,242                                                                                          |               | 34.6                                                                                             | %               |               | $ | 3,995 |   |
|   ACH Commissions                                                                                                                                                                                         |               |        | 198,216                                                                                          |               | 28.0                                                                                             | %      |               |   | 392,693                                                                                          |               | 55.7                                                                                             | %               |               |   | (194,477 | ) |
|   ACH System      depreciation                                                                                                                                                                            |               |        | 14,976                                                                                           |               | 2.2                                                                                              | %      |               |   | 11,233                                                                                           |               | 1.6                                                                                              | %               |               |   |  3,743 |   |
|   Verification Fees                                                                                                                                                                                       |               |        | 106,049                                                                                          |               | 14.9                                                                                             | %      |               |   | 54,088                                                                                           |               | 7.7                                                                                              | %               |               |   |  51,961 |   |
|   Credit      Card ISO Costs                                                                                                                                                                                   |               |        | 137,215                                                                                          |               | 19.4                                                                                             | %      |               |   | --                                                                                               |               | --                                                                                               |            |               |   | 137,215 |   |
|   Other                                                                                                                                                                                                        |               |        | 2,751                                                                                            |               | 0.4                                                                                              | %      |               |   | 3,142                                                                                            |               | 0.4                                                                                              | %               |               |   | (391 | ) |
| Total Cost of Revenue                                                                                                                                                                                     |               | $           | 707,444                                                                                          |               | 100.0                                                                                            | %      |               | $      | 705,398                                                                                          |               | 100.0                                                                                            | %               |               | $ | 2,046 |   |

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|   | · | We      may experience reductions in the amount of payments we process for      merchants as a result of a downturn in consumer activity and consumer      confidence. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We      may be negatively impacted in our credit card processing business if      consumers are unable to maintain existing credit card limits or have      credit card servicesterminated. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | We      may experience difficulties in maintaining or re-financing our existing      credit facilities at either equivalent or more favorable      rates. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | New      sources of borrowed capital may become more expensive or unavailable which      may inhibit our ability to grow. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------|

|   | · | Competition      may become more intense and we may be required to reduce pricing to      maintain the business we have and/or to obtain new business through our      existing sales force. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                                                                                                                                                                                                                                       |                           | Age                            |                           | Position                                                                                                                                                                                                                                                                                                                                                                                   |                           | Director Since            |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|--------------------------------|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|--------------------------------|
|                                         |       |       |       |                                                                 |       |       |
| Walter      Reid Green, Jr.                                                                                                                                                                                                                |                           | 50                             |                           | Chief      Executive Officer, President, Chief Financial Officer, Treasurer,      Corporate Secretary and a Director                                                                                                                                                                                                                                                                       |                           | 2005                           |
| William      R. Plummer                                                                                                                                                                                                                    |                           | 64                             |                           | Sales      Development Manager and a Director                                                                                                                                                                                                                                                                                                                                              |                           | 2008                           |
| Monica      B. Haab                                                                                                                                                                                                                        |                           | 42                             |                           | Director                                                                                                                                                                                                                                                                                                                                                                                   |                           | 2005                           |

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| Salary      Compensation                                                                                                           |
|------------------------------------------------------------------------------------------------------------------------------------|
| Name andPrincipalPosition(1)                                                                                                  |   | FiscalYear |   | Salary ($) |   | Bonus($) |   | StockAwards |   | OptionsAwards($)(3) |   | Non-EquityIncentive PlanCompensation($) |   | NonqualifiedDeferredCompensationEarnings ($) |   | All OtherCompensationCompensation($)(4) |   | Total ($) |   |
|                                                                                                                               |   |               |   |   |               |   |   |               |   |   |               |   |   |               |   |   |             |   |   |             |   |   |             |   |   |               |   |
| Walter Reid Green, Jr.Chief      Executive Officer, President, Chief Financial Officer and Corporate      Secretary |   | 20082007 |   | $$ | 75,00075,000 |   | $$ | 3,0001,500 |   | $$ | —— |   | $$ | 13,715— |   | $$ | —— |   | $$ | —— |   | $$ | —— |   | $$ | 91,71576,500 |   |
|                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Jeffery C. Swank      (2)Former      Chief Executive Officer and President                                               |   | 20082007 |   | $$ | —— |   | $$ | —— |   | $$ | —— |   | $$ | —— |   | $$ | —— |   | $$ | —— |   | $$ | —— |   | $$ | —— |   |

| (1) |    | During      the fiscal year ended December 31, 2008, we only had two executive      officers, Messrs. Swank and Green.  Neither executive officer,      nor any other employee, earned in excess of $100,000 in total      compensation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-----|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) |         | Mr.      Swank served as our Chief Executive Officer and President from 2005 until      October 14, 2008 but did not receive any  compensation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (3) |         | The      amounts reported in this column for each executive officer reflect the      compensation costs for financial statement reporting purposes for the year      under FAS 123R for stock options granted in and prior to the      year.  These are not amounts paid to or realized by the      executive officer.  Assumptions used in calculation of these      compensation costs are included in Note I of the Notes to Consolidated      Financial Statements included with this report.                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (4) |         | Includes      all other compensation not reported in the preceding columns, including      (i) perquisites and other personal benefits, or property, unless the      aggregate amount of such compensation is less than $10,000; (ii) any      “gross-ups” or other amounts reimbursed during the fiscal year for the      payment of taxes; (iii) discounts from market price with respect to      securities purchased from the company except to the extent available      generally to all security holders or to all salaried employees; (iv) any      amounts paid or accrued in connection with any termination (including      without limitation through retirement, resignation, severance or      constructive termination, including change of responsibilities) or change      in control; (v) contributions to vested and unvested defined contribution      plans; (vi) any insurance premiums paid by, or on behalf of,      the |

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|   |   | company      relating to life insurance for the benefit of the named executive officer;      and (vii) any dividends or other earnings paid on stock or option awards      that are not factored into the grant date fair value required to be      reported in a precedingcolumn. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Option      Awards         |   |   | Stock      Awards                                                  |   |
|----------------------------|--------|--------|--------------------------------------------------------------------|--------|
| Name                       |   |   | Number ofSecuritiesUnderlyingUnexercisedOptions(#)Exercisable |   |   | Number ofSecuritiesUnderlyingUnexercisedOptions(#)Unexercisable |   |   | EquityIncentive PlanAwards:Number ofSecuritiesUnderlyingUnexercisedUnearnedOptions (#) |   |   | OptionExercisePrice ($) |   | OptionExpirationDate |   |   | Number ofShares orUnits ofStock ThatHave NotVested (#) |   |   | MarketValue ofShares orUnits ofStock ThatHave NotVested |   |   | EquityIncentivePlanAwards:NumberofUnearnedShares,Units orOtherRightsThat HaveNotVested |   |   | EquityIncentive PlanAwards:Market orPayout Value ofUnearnedShares, Units orOther RightsThat Have NotVested |   |
| Walter      Reid Green, Jr |   |   | 897,500                                                            |   |   | — |   |   | — |   | $ | .05 |   | 08/20/2018 |   |   | — |   |   | — |   |   | — |   |   | — |   |
| .                          |   |   | 212,000                                                            |   | - | — |   |   | — |   | $ | .03 |   | 03/30/2010 |   |   | — |   |   | — |   |   | — |   |   | — |   |
|                       |   |   | 32,500                                                             |   |   | — |   |   | — |   | $ | .03 |   | 02/15/2011 |   |   | — |   |   | — |   |   | — |   |   | — |   |
|                       |   |   |                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Jeffery      C. Swank      |   |   | —                                                            |   |   | — |   |   | — |   | $ | — |   | — |   |   | — |   |   | — |   |   | — |   |   | — |   |

| Name(1)                                                                                                                                                                                          |         | Fee      Earned orPaid      in Cash($)                                                                                                                       |   | StockAwards($)                                                                                                                                               |   | OptionAwards($)                                                                                                                                                          |   | OtherCompensation($)                                                                                                                                         |   | Total($)                                                                                                                                               |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| Monica      B. Haab(2)                                                                                                                                                                           |    | —                                                                                                                                                      |   | —                                                                                                                                                      |   | —                                                                                                                                                                  |   | —                                                                                                                                                      |   | —                                                                                                                                                |
|                                  |         |                            |   |                            |   |                              |   |                            |   |                           |

| (1) |   | Jeffery      C. Swank, our former Chief Executive Officer and President and a former      director, and Walter Reid Green, Jr., our current Chief Executive Officer,      President, Chief Financial Officer, Treasurer and Corporate Secretary, are      not included in this table as they were employees and thus received no      compensation for their services as directors.  The compensation      received by Messrs. Swank and Green as employees is shown in the summary      compensation table included elsewhere in this report.  Mr.      Swank’s term as a director ended at our annual meeting of stockholders      held on January 15, 2009.  At such meeting, Mr. William      Plummer, our Sales Development Manager and a current employee, was elected      as a director. |
|-----|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) |   | Ms.      Haab is our only non-employee director.  As of December 31,      2008, Ms. Haab had no options or stock awards outstanding.  As      disclosed in the beneficial ownership table elsewhere in this annual      report, Ms. Haab is the beneficial owner of 80,000 shares of our common      stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

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| Name      and Address                                                                                                 |   | SharesBeneficiallyOwned |      |   | Percentageof      Class |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|-------------------------|-----------|--------|-------------------------|--------|
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Beneficial      Owners of More than 5%:                                                                               |   |                    |      |   |                    |   |   |   |
| American      Timeshare Associates, Inc.  82      Roslyn Avenue  Sea      Cliff, New York 11579   |   |                    | 2,880,000 | (1)    |                    |   | 8.4 | % |
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Ron      Katz  82      Roslyn Avenue  Sea      Cliff, New York 11579                              |   |                    | 3,200,000 | (2)    |                    |   | 9.3 | % |
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Leon      Nowalsky  826      Barracks Street  New      Orleans, Louisiana 70116                   |   |                    | 3,431,500 |   |                    |   | 10.0 | % |
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Paul      J. Shovlain  P.O.      Box 15855 Tallahassee,      Florida  32317                  |   |                    | 6,891,750 |   |                    |   | 20.1 | % |
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Robert      J. Sorrentino  3811      Hollow Crossing Drive  Orlando,      Florida 32817           |   |                    | 4,800,000 |   |                    |   | 14.0 | % |
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Directors      and Named Executive Officers:                                                                          |   |                    |      |   |                    |   |   |   |
| Walter      Reid Green, Jr.  15431      O’Neal  Gulfport,      Mississippi  39503 |   |                    | 1,242,000 | (3)    |                    |   | 3.5 | % |
|                                                                                                                  |   |                    |      |   |                    |   |   |   |
| Monica      B. Haab   15431      O’Neal  Gulfport,      Mississippi  39503   |   |                    | 80,000    |   |                    |   | * |   |

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| Name      and Address                                                                                                   |   | SharesBeneficiallyOwned |      |   | Percentageof      Class |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|-----------|--------|-------------------------|--------|
|                                                                                                                    |   |                    |      |   |                    |   |   |   |
|                                                                                                                    |   |                    |      |   |                    |   |   |   |
| William      R. Plummer   15431      O’Neal  Gulfport,      Mississippi  39503 |   |                    | 6,396,000 | (4)    |                    |   | 18.6 | % |
|                                                                                                                    |   |                    |      |   |                    |   |   |   |
| All      officers and directors as a group (3 persons)                                                                  |   |                    | 7,718,000 | (3)    |                    |   | 21.9 | % |
|                                                                                                                    |   |                    |      |   |                    |   |   |   |
| Former      Named Executive Officer                                                                                     |   |                    |      |   |                    |   |   |   |
| Jeffery      C. Swank  8      Hobby Newton Road  Epps,      Louisiana  71237              |   |                    | 6,891,750 | (5)    |                    |   | 20.1 | % |
|                                                                                                                    |   |                    |      |   |                    |   |   |   |

| *   |         | Indicates      less than 1%                                                                                                                                                                                                                                                                                     |
|-----|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) |         | Ron      Katz is the president and sole shareholder of American Timeshare      Associates, Inc. and has sole voting and dispositive power over the shares      held by American Timeshare Associates, Inc.                                                                                                      |
| (2) |    | Includes      2,880,000 shares held by American Timeshare Associates, Inc. and 320,000      shares held by Net Com Data Corp. of N.Y.  Mr. Katz is the      president and sole shareholder of both entities and may be deemed to be      the beneficial owner of all shares owned by those  entities. |
| (3) |         | Includes      244,500 shares which Mr. Green has the right to acquire pursuant to the      exercise of options with an exercise price of $.03 per share and 897,500      shares which Mr. Green has the right to acquire pursuant to the exercise      options with an exercise price of $.05 per share.        |
| (4) |         | Includes      3,198,000 shares owned by Mr. Plummer’s wife.                                                                                                                                                                                                                                               |
| (5) |         | Mr.      Swank served as our Chief Executive Officer until October 14, 2008      and as a director until January 15,2009.                                                                                                                                                                             |

| Equity      Compensation Plan Information                                   |
|-----------------------------------------------------------------------------|
|                                               |        |        |        |
|                           | Number      of securities tobe      issued upon exerciseof      outstanding options,warrants      and rights | Weighted-averageexercise      price ofoutstanding      options,warrants      and rights | Number      of securitiesremaining      availablefor      future issuanceunder      equitycompensation      plans(excluding      securitiesreflected      in column (a)) |
|                                               | (a) | (b) | (c) |
| Equity      compensationplans      approved bysecurity      holders (1)     | 1,157,000 | $.05 | 718,000 |
|                                               |        |        |        |
| Equity      compensationplans      not approved bysecurity      holders (2) |   302,000 |   $.03 |   - |
|                                               |        |        |        |
| Total                                                                       | 1,459,000 | $.046 | 718,000 |

----

| (1) |   | Includes      our 2008 Incentive Stock Plan which was approved by stockholders at our      annual meeting on January 15, 2009.                                                                                                                                                |
|-----|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) |   | Includes      options to purchase 244,500 shares of our common stock at $.03 per share      granted to Walter Reid Green, Jr., our Chief Executive Officer and options      to purchase 57,500 shares of our common stock at $.03 per share granted to      three other employees. |

ITEM

----

ITEM

|                                                                                                                                                  |   | Fiscal      2008 |   |   | Fiscal      2007 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|------------------|--------|
| Audit      Fees (1)                                                                                                                                   |   | $                | 40,375 |   |             | $      | 27,900 |   |
| Audit-Related      fees                      |   |             | -      |   |             |   | - |   |
| Tax      Fees                                                                                                                                         |   |             | -      |   |             |   | - |   |
| All      Other Fees                                                                                                                                   |   |             | -      |   |             |   | - |   |
| Total      Fees                                                                                                                                       |   | $                | 40,375 |   |             | $      | 27,900 |   |

| (1) |    | Includes      fees for the Company’s annual audits and reviews of the Company’s      quarterly financial statements or services that are normally provided by      the accountant in connection with statutory or regulatory filings or      engagements. |
|-----|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

PART

ITEM

| (1) | Financial      Statements.  The consolidated financial statements of      United eSystems, Inc., which are listed on the Index to Financial      Statements appearing on page 41 of this  report. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Financial Statement      Schedules.  All schedules for which provision is made in      the applicable accounting regulations of the SEC are omitted because of      the absence of conditions under which they are required or because the      required information is included in the consolidated financial statements      and related notes thereto. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Exhibits.  The      following is a list of exhibits filed as part of this annual report on      Form 10-K. |
|-----|----------------------------------------------------------------------------------------------------------------------|

|   | 3.1   |     | Articles      of Incorporation (incorporated by reference to Exhibit 3.1 to our      Registration Statement on Form 10-SB filed April 23,      2002).                                                                                                                                 |
|--------|-------|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 3.2   |               | First      Amended and Restated Articles of Incorporation (incorporated by reference      to Exhibit 3.3 to our Form 10-KSB filed on April 15,      2005).                                                                                                                            |
|   | 3.3   |               | Certificate      of Amendment to the Articles of Incorporation (incorporated by reference      to Exhibit 3.4 to our Form 10-QSB filed on August 12,      2005).                                                                                                                      |
|   | 3.4   |               | Bylaws      (incorporated by reference to Exhibit 3.2 to our Registration Statement on      Form 10-SB filed April 23, 2002).                                                                                                                                                         |
|   | 3.5   |               | First      Amended Bylaws of United eSystems, Inc. (incorporated by reference to      Exhibit 3.1 to our Form 8-K filed on October 14,    2008).                                                                                                                                      |
|   | 10.1  |               | Contribution      Agreement between Riverbend Telecom, Inc., Riverbend Holdings, Inc., Leon      Nowalsky and the equity owners of United Check Services, LLC, dated      July 14, 2004 (incorporated by reference to Exhibit 10.5 to our Form      8-K filed on July 21, 2004). |
|   | 10.2  |               | Letter      Agreement dated August 5, 2004 (incorporated by reference to Exhibit      10.6 to our Form 8-K filed on August 30, 2004).                                                                                                                                            |
|   | 10.3  |               | Agreement      and Plan of Reorganization between Riverbend Telecom, Inc. and Riverbend      Holdings, Inc. dated March 30, 2005 (incorporated by reference to      Exhibit 10.7 to our Form 8-K filed on April 4,  2005).                                                       |
|   | 10.4  |               | Real      Estate Lease between Marston Lee and Kathy P. Rogers and United Check      Services (incorporated by reference to Exhibit 10.9 to our Form 10-QSB      filed on August 12, 2005).                                                                                                |
|   | 10.5  |               | Real      Estate Lease Renewal dated March 17, 2008 (incorporated by reference      to Exhibit 10.1 to our Form 10-Q filed on August 13,      2008).                                                                                                                             |
|   | 10.6  |               | United      eSystems, Inc. 2008 Incentive Stock Plan (incorporated by reference to      Exhibit 10.1 to our Form 10-Q filed on November 14,      2008).+                                                                                                                              |
|   | 10.7  |               | NetCom      Data Southern Corp. Share Purchase Agreement dated August 22, 2008      (incorporated by reference to Exhibit 10.1 to our Form 8-K filed on      August 28, 2008).                                                                                                   |
|   | 10.8  |               | Robert      J. Sorrentino Secured Promissory Note dated August 22, 2008      (incorporated by reference to Exhibit 10.2 to our Form 8-K filed on      August 28, 2008).                                                                                                          |
|   | 10.9  |               | Robert      J. Sorrentino Security Agreement dated August 22, 2008 (incorporated      by reference to Exhibit 10.3 to our Form 8-K filed on August 22,      2008).                                                                                                               |
|   | 10.10 |               | Purchase      Agreement dated September 17, 2008 between Netcom Data Corp. and Net Com      Data Corp of N.Y. and American Timeshare Associates, Inc. (incorporated by      reference to Exhibit 10.1 to our Form 8-K filed on September 23,      2008).                              |

----

|   | 10.11 |     | Promissory      Note dated September 17, 2008 issued to Thermo Credit, LLC. (incorporated      by reference to Exhibit 10.2 to our Form 8-K filed on September 23,      2008).                                                                                                                                                  |
|--------|-------|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 10.12 |               | Loan,      Pledge, and Security Agreement dated September 17, 2008 by and among      Thermo Credit, LLC and United eSystems, Inc., Netcom Data Southern Corp.,      Netcom Data Corp. and United Check Services, L.L.C. (incorporated by      reference to Exhibit 10.3 to our Form 8-K filed on September 23,      2008).      |
|   | 10.13 |               | Subordination      Agreement dated September 17, 2008 by and among Robert Sorrentino, Thermo      Credit, LLC and United eSystems, Inc., Netcom Data Southern Corp, Netcom      Data Corp. and United Check Services, L.L.C. (incorporated by reference to      Exhibit 10.4 to our Form 8-K filed on September 23,      2008). |
|   | 10.14 |               | Pledge      and Control Agreement dated September 17, 2008 by and among Thermo Credit,      LLC and Leon Nowalsky and Robert Sorrentino (incorporated by reference to      Exhibit 10.5 to our Form 8-K filed on September 23,      2008).                                                                                      |
|   | 10.15 |               | Service      Agreement dated July 13, 2008 between LaSalle Bank, N.A. and Netcom      Data Corp. (incorporated by reference to Exhibit 10.6 to our Form 8-K      filed on September 23, 2008).                                                                                                                             |
|   | 10.16 |               | Amendment      to Thermo Credit, LLC Loan, Pledge and Security Agreement and related      Promissory Note dated March 17, 2009.*                                                                                                                                                                                                |
|   | 14.1  |               | Code      of Ethics (incorporated by reference to Exhibit 14 to our Form 10-KSB      filed on April 14, 2004).                                                                                                                                                                                                                  |
|   | 21.1  |               | List      of Subsidiaries of United eSystems.*                                                                                                                                                                                                                                                                                       |
|   | 31.1  |               | Principal      Executive Officer Certification under Section 302 of the Sarbanes-Oxley      Act of 2002.*                                                                                                                                                                                                                            |
|   | 31.2  |               | Principal      Financial Officer Certification under Section 302 of the Sarbanes-Oxley      Act of 2002.*                                                                                                                                                                                                                            |
|   | 32.1  |               | Principal      Executive Officer Certification under Section 906 of the Sarbanes-Oxley      Act of 2002.*                                                                                                                                                                                                                            |
|   | 32.2  |               | Principal      Financial Officer Certification under Section 906 of the Sarbanes-Oxley      Act of2002.*                                                                                                                                                                                                                             |

----

| SIGNATURES |
|------------|

|                                                                                                                                                              | UNITED      ESYSTEMS, INC.                                                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                               |                                                                                                                                                          |
| Date:  March 31,      2009                     | By: /s/ Walter Reid Green,      Jr.                                                                                                                                     |
|                                                                                                                                                              |            Walter Reid Green, Jr.                                                                                                                   |
|                                                                                                                                                              |       Chief      Executive Officer and Chief Financial Officer                                                                                 |
|                                                                                                                                                              |       (Principal      Executive Officer, Principal Financial Officer            and Principal AccountingOfficer) |

| Signature                                                                                                                                                                                                                                                                                                                                        |   | Title                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Date                                                                                                                                                                     |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                          |   |                                                                         |   |                              |
|                                                                                                                                                                                                                                                                                                               |   |                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                       |
| /s/ Walter Reid Green, Jr.                                                                                                                                                                                                                                                                                                                       |   | Chief      Executive Officer, Chief Financial Officer                                                                                                                                                                                                                                                                                                                                                                                      |   | March 31,      2009                                                                                                                                                 |
| Walter      Reid Green, Jr.                                                                                                                                                                                                                                                                                                                      |   |  and      Director                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                               |   |                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                               |   |                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                       |
| /s/ William R. Plummer                                                                                                                                                                                                                                                                                                                           |   | Director                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | March 31,      2009                                                                                                                                                 |
| William      R. Plummer                                                                                                                                                                                                                                                                                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                                                                                                                     |
| /s/ Monica B. Haab                                                                                                                                                                                                                                                                                                                               |   | Director                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | March 31,      2009                                                                                                                                                 |
| Monica      B. Haab                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                                                                                                                     |

----

| UNITED      ESYSTEMS, INC. AND SUBSIDARY |
|------------------------------------------|
|                                     |
| INDEX      TO FINANCIAL STATEMENTS       |

|                                                                                                                             | Page No.              |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------|
| Independent      Auditors’ Report                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | F-1                   |
| Consolidated      Balance Sheets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | F-2      – F-3  |
| Consolidated      Statements of Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | F-4                   |
| Consolidated      Statements of Changes in Stockholders’ Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | F-5                   |
| Consolidated      Statements of Cash Flows                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | F-6                   |
| Notes      to Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | F-7      – F-17 |

----

----

| UNITED      ESYSTEMS, INC. AND SUBSIDIARIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED      BALANCE SHEETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | December      31, |   |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                            |   |                      |       |   |                      |   |
| CURRENT      ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |
| Cash and Cash      Equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $      | 366,844 |   | $ | 283,988 |   |
| Restricted Cash                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 353,702 |   |   | 531,343 |   |
| Trade Receivables,      net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |  84,581 |   |   | 81,490 |   |
| PrepaidInterest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 96,000 |   |   | -- |   |
| PrepaidExpenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 19,619 |   |   | 24,476 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| Total Current      Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   920,746 |   |   | 921,297 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| PROPERTY      AND EQUIPMENT, NET                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 57,882 |   |   | 60,735 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| OTHER      ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |
| Intangible    Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 5,661,916 |   |   | -- |   |
| Prepaid Expenses,      Non-current                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 110,000 |   |   | -- |   |
| Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 63,315 |   |   | 62,620 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| Total Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $      | 6,813,859 |   | $ | 1,044,652 |   |
|                                                                                                                      |   |                      |       |   |                      |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                      |       |   |                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| CURRENT      LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |
| ACH Settlements      Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $      | 336,597 |   | $ | 514,969 |   |
| Current Portion Long-Term      Debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 357,709 |   |   | 70,000 |   |
| Accounts Payable and Accrued      Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |  17,924 |   |   | 34,036 |   |
| Customers’    Deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 17,105 |   |   | 16,374 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| Total Current      Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 729,335 |   |   | 635,379 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| LONG      TERM LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |   |   |
| Notes Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 4,977,949 |   |   | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| Total    Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 5,707,284 |   |   | 635,379 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| STOCKHOLDERS'      EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |   |   |
| Common Stock - $.001 Par Value;      75,000,000 Shares Authorized, 34,316,667      Shares Issued and Outstanding in 2008 and 18,291,667 in    2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 34,317 |   |   | 18,292 |   |
| Additional Paid-In      Capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 850,346 |   |   | 49,440 |   |
| Retained    Earnings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 221,912 |   |   | 341,541 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
|    Total      Stockholders' Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 1,106,575 |   |   | 409,273 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |   |   |
| Total Liabilities and      Stockholders' Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $      |  6,813,859 |   | $ | 1,044,652 |   |

----

| UNITED      ESYSTEMS, INC. AND SUBSIDIARIES |
|---------------------------------------------|
| CONSOLIDATED      STATEMENTS OF OPERATIONS  |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | For      the Years EndedDecember 31,                                                                                |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 2008                                                                                                                     |   |   |   | 2007 |   |
|                                                                                                                      |   |                      |   |       |   |                      |   |
| REVENUES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                     |   |   |   |   |   |
| ACH Processing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $      |   941,492                                                                                                      |   |   | $ | 1,087,121 |   |
| Verification      Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 165,946                                                                                                                  |   |   |   | 64,001 |   |
| Credit Card      Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 681,770                                                                                                                  |   |   |   | 30,651 |   |
| Total Revenues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 1,789,208                                                                                                                |   |   |   | 1,181,773 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| COST      OF REVENUES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 707,444                                                                                                                  |   |   |   | 705,398 |   |
| Gross Profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 1,081,764                                                                                                                |   |   |   | 476,375 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| EXPENSES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                     |   |   |   |   |   |
| Operating    Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                     |   |   |   |   |   |
|    Personnel      Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 139,628                                                                                                                  |   |   |   | 126,720 |   |
|    Travel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 61,271                                                                                                                   |   |   |   | 17,007 |   |
|    Amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 176,586                                                                                                                  |   |   |   | - |   |
|    Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 227,251                                                                                                                  |   |   |   | 120,434 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| Total Operating      Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 604,736                                                                                                                  |   |   |   | 264,161 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| Selling, General and      Administrative Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                     |   |   |   |   |   |
|    Personnel      Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 226,131                                                                                                                  |   |   |   | 87,070 |   |
|    Legal and      Accounting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 92,163                                                                                                                   |   |   |   | 48,143 |   |
|    Marketing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 34,921                                                                                                                   |   |   |   | 36,200 |   |
|    Consulting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 32,500                                                                                                                   |   |   |   | - |   |
|    Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |  63,491                                                                                                             |   |   |   |  8,116 |   |
| Total Selling, General and      Administrative Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 449,206                                                                                                                  |   |   |   | 179,529 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| Total Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 1,053,942                                                                                                                |   |   |   | 443,690 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| INCOME      FROM OPERATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |  27,822                                                                                                             |   |   |   | 32,685 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| OTHER      INCOME (EXPENSE)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                     |   |   |   |   |   |
| Interest Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |     421                                                                                              |   |   |   |     - |   |
| InterestExpense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (188,381                                                                                                                 | )      |   |   | (8,065 | ) |
| Other Expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |         -                                                                        |   |   |   | (14,500 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| Total Other    Expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (187,960                                                                                                                 | )      |   |   | (22,565 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                     |   |   |   |   |   |
| NET      (LOSS) INCOME BEFORE INCOME TAXES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | (160,138                                                                                                                 | )      |   |   | 10,120 |   |
| INCOME      TAX (BENEFIT) EXPENSE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (40,509                                                                                                                  | )      |   |   | 2,120 |   |
| NET      (LOSS) INCOME                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $      |  (119,629                                                                                                           | )      |   | $ |  8,000 |   |
| EARNINGS      PER SHARE – BASIC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $      | 0.00                                                                                                                     |   |   | $ | 0.00 |   |
| EARNINGS      PER SHARE – DILUTED                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $      | 0.00                                                                                                                     |   |   | $ | 0.00 |   |

----

|                                                                                |   | Common      Stock |       |   | AdditionalPaid-In |   |   | Retained |   |   | TotalStockholders' |   |
|-------------------------------------------------------------------------------------|--------|-------------------|------------|--------|-------------------|--------|--------|----------|--------|--------|--------------------|--------|
|                                                                                |   | Shares            |       |   | Amount            |   |   | Capital  |   |   | Earnings           |   |   | Equity |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |
| Balance      at January 1, 2007                                                     |   |              | 18,291,667 |   |              | $      | 18,292 |     |   | $      | 49,440             |   |   | $ | 333,541 |   |   | $ | 401,273 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Issuance      of Common Stock                                                       |   |              | -          |   |              |   | -      |     |   |   | -                  |   |   |   | - |   |   |   | - |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Net      Income                                                                     |   |              | -          |   |              |   | -      |     |   |   | -                  |   |   |   | 8,000 |   |   |   | 8,000 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Balance      at December 31, 2007                                                   |   |              | 18,291,667 |   |              | $      | 18,292 |     |   | $      | 49,440             |   |   | $ | 341,541 |   |   | $ | 409,273 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Exercise      of Employee Stock Options                                             |   |              | 100,000    |   |              | $      | 100    |     |   | $      | 2,900              |   |   | $ | - |   |   | $ | 3,000 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Issuance      of Stock Options                                                      |   |              | -          |   |              |   | -      |     |   |   | 17,681             |   |   |   |   |   |   |   | 17,681 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Issuance      of restricted common stock granted Employees      under 2008 ISO Plan |   |              | 125,000    |   |              |   | 125    |     |   |   | 6,125              |   |   |   | - |   |   |   | 6,250 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Issuance      of Common Stock for Acquisition of      Netcom Data Southern, Inc.    |   |              | 7,800,000  |   |              |   | 7,800  |     |   |   | 382,200            |   |   |   | - |   |   |   | 390,000 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Issuance      of Common Stock for Acquisition of      Credit Card Portfolio         |   |              | 3,200,000  |   |              |   | 3,200  |     |   |   | 156,800            |   |   |   | - |   |   |   | 160,000 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Issuance      of Common Stock in exchange for "Non-interest"      bearing loan      |   |              | 4,800,000  |   |              |   | 4,800  |     |   |   | 235,200            |   |   |   | - |   |   |   | 240,000 |   |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Net      Loss                                                                       |   |              | -          |   |              |   | -      |     |   |   | -                  |   |   |   | (119,629 | ) |   |   | (119,629 | ) |
|                                                                                |   |              |       |   |              |   |   |     |   |   |               |   |   |   |   |   |   |   |   |   |
| Balance      at December 31, 2008                                                   |   |              | 34,316,667 |   |              | $      | 34,317 |     |   | $      | 850,346            |   |   | $ | 221,912 |   |   | $ | 1,106,575 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | For      The Years Ended December 31,                                                                              |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2008                                                                                                               |   |   |   | 2007 |   |
|                                                                                                           |   |                     |   |       |   |                     |   |
| CASH      FLOWS FROM OPERATING ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                               |   |   |   |   |   |
| Net Loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $      |  (119,629                                                                                                     | )      |   | $ |   8,000 |   |
| Adjustments to Reconcile Net      Income to Net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                               |   |   |   |   |   |
| Cash Provided by Operating      Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                                                               |   |   |   |   |   |
| Depreciation and      Amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 208,058                                                                                                            |   |   |   | 28,769 |   |
| Compensation expense related      to employee stock grant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 6,250                                                                                                              |   |   |   | -- |   |
| Compensation expense related      to employee stock options granted                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 17,681                                                                                                             |   |   |   | -- |   |
| (Increase) Decrease in Trade      Receivables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (3,091                                                                                                             | )      |   |   |  7,525 |   |
| Decrease (Increase) in Prepaid      Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 4,857                                                                                                              |   |   |   | (22,281 | ) |
| Decrease in Prepaid      Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |  34,000                                                                                                       |   |   |   | -- |   |
| Decrease in Restricted      Cash                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 177,641                                                                                                            |   |   |   | 295,304 |   |
| Increase in Other      Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |  (695                                                                                                         | )      |   |   |  -- |   |
| Decrease in ACH Settlements      Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | (178,372                                                                                                           | )      |   |   | (308,178 | ) |
| Decrease in Accounts Payable      and Accrued Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | (16,112                                                                                                            | )      |   |   | (3,366 | ) |
| Increase in Customer      Deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 731                                                                                                                |   |   |   | 12,874 |   |
| Net Cash Provided by Operating      Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 131,319                                                                                                            |   |   |   | 18,647 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| CASH      FLOWS FROM INVESTING ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                               |   |   |   |   |   |
| Acquisition of Property and      Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | (14,117                                                                                                            | )      |   |   | (23,489 | ) |
| Cash paid in conjunction with      acquisition of NDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (307,428                                                                                                           | )      |   |   | -- |   |
| Cash paid in conjunction with      acquisition of Portfolio Asset                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | (2,275,575                                                                                                         | )      |   |   | -- |   |
| Increase in      Deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | --                                                                                                                 |   |   |   | (50,000 | ) |
| Net Cash Used in Investing      Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | (2,597,120                                                                                                         | )      |   |   | (73,489 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| CASH      FLOWS FROM FINANCING ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                               |   |   |   |   |   |
| Proceeds from notes      payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2,615,657                                                                                                          |   |   |   | -- |   |
| Proceeds from employee stock      options exercised                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 3,000                                                                                                              |   |   |   | -- |   |
| Principal paid on notes      payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | (70,000                                                                                                            | )      |   |   | (46,000 | ) |
| Net Cash Provided by (Used in)      Financing Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2,548,657                                                                                                          |   |   |   | (46,000 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| NET      INCREASE (DECREASE) IN CASH ANDCASHEQUIVALENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 82,856                                                                                                             |   |   |   |  (100,842 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| CASH      AND CASH EQUIVALENTS – BEGINNING      OF PERIOD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 283,988                                                                                                            |   |   |   | 384,830 |   |
| CASH      AND CASH EQUIVALENTS – END OF PERIOD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $      | 366,844                                                                                                            |   |   | $ | 283,988 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| SUPPLEMENTAL      DISCLOSURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                                                               |   |   |   |   |   |
| Cash Paid During the Period for      Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $      | 123,101                                                                                                            |   |   | $ | 8,065 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | For      The Year Ended December 31,                                                                               |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2008                                                                                                               |   |   |   | 2007 |   |
|                                                                                                           |   |                     |   |       |   |                     |   |
| SUPPLEMENTAL      DISCLOSURE OF NONCASH INVESTING      AND FINANCING ACTIVITES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                               |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Acquisition      of Netcom Data Southern, Inc. (NDS) Identifiable      Intangible Assets Acquired                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $      | 3,402,925                                                                                                          |   |   | $ | -- |   |
| Net      Tangible Assets Acquired:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                               |   |   |   |   |   |
| Property and      Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 14,503                                                                                                             |   |   |   | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Net Tangible Assets      Acquired                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | 14,503                                                                                                             |   |   |   | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Total Assets    Acquired                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 3,417,428                                                                                                          |   |   |   | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Less:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                                                               |   |   |   |   |   |
| Fair Value of stock      issued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |  (390,000                                                                                                     | )      |   |   | -- |   |
| Promissory Note Issued to      Stockholder of NDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |  (2,720,000                                                                                                   | )      |   |   | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Net Cash Paid for Acquisition of      NDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $      | 307,428                                                                                                            |   |   | $ | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Purchase      of Credit Card Portfolio                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                               |   |   |   |   |   |
| Value of Credit Card Portfolio      Acquired                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $      | 2,435,575                                                                                                          |   |   | $ | -- |   |
| Less Value of Stock Issued for      Purchase                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | (160,000                                                                                                           | )      |   |   | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Net Cash Paid for Purchase of      Credit Card Portfolio                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $      | 2,275,575                                                                                                          |   |   | $ | -- |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                               |   |   |   |   |   |
| Stock      Issued in Exchange for "Interest-Free" Loan; Recognized      as Prepaid Interest on Consolidated  Balance    Sheet                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $      | 240,000                                                                                                            |   |   | $ | -- |   |

----

----

| A      summary of the purchase price of NDS is as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |      |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|
| Cash      paid to stockholders of NDS, net of cash acquired from NDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $      | 272,099   |   |
| Direct      acquisition costs paid by the Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 35,329    |   |
| Promissory      note issued to stockholders of NDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 2,720,000 |   |
| Fair      value of 7,800,000 shares of stock issued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 390,000   |   |
|                                                                                                        |   |   |      |   |
| Total      purchase price                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | $      | 3,417,428 |   |

| Tangible      assets acquired and liabilities assumed                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |      |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|
| Property and      Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $      | 14,503    |   |
|                                                                                                        |   |   |      |   |
|   Net tangible assets      acquired                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 14,503    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |
| Identifiable      intangibles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |
| Customer relationships and      contracts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 3,402,925 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |
| Total      purchase price                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | $      | 3,417,428 |   |

----

----

----

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2008                                                                                                                     |   |                           |   | 2007                                                                                                                     |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|--------|
| Computers      and Office Equipment                                                                                                                                                                                                                                                                                                                                                                                                        | $      | 70,803                                                                                                                   |   |                           | $      | 57,999                                                                                                                   |   |
| Furniture      and Fixtures                                                                                                                                                                                                                                                                                                                                                                                                                |   | 5,831                                                                                                                    |   |                           |   | 4,350                                                                                                                    |   |
| Software                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 85,623                                                                                                                   |   |                           |   |  74,368                                                                                                             |   |
| Leasehold      Improvements                                                                                                                                                                                                                                                                                                                                                                                                                |   | 6,907                                                                                                                    |   |                           |   | 3,826                                                                                                                    |   |
| Less:  Accumulated      Depreciation                                                                                                                                                                                                                                                                                                                                                                                             |   | (111,282                                                                                                                 | )      |                           |   | (79,808                                                                                                                  | )      |
|                                                                         |   |                      |   |       |   |                      |   |
| Property      and Equipment, Net                                                                                                                                                                                                                                                                                                                                                                                                           | $      | 57,882                                                                                                                   |   |                           | $      |  60,735                                                                                                             |   |

----

|                                                           |   | Gross      Amount |      |   | AccumulatedAmortization |   |
|----------------------------------------------------------------|--------|-------------------|-----------|--------|-------------------------|--------|
| Intangibles      Subject to Amortization:                      |   |              |      |   |                    |   |
|   Customer      Contracts – NDS                |   | $                 | 3,402,925 |   |                    | $      | 111,010 |   |
|   Customer      Contracts – Portfolio Purchase |   |              | 2,435,575 |   |                    |   | 65,576 |   |
|                                                           |   |              |      |   |                    |   |   |   |
|   Totals                                             |   | $                 | 5,838,500 |   |                    | $      | 176,586 |   |

----

| Year               |   | Amount |      |
|--------------------|--------|--------|-----------|
|               |   |   |      |
| 2009               |   | $      | 357,709   |   |
| 2010               |   |   | 2,582,407 |   |
| 2011               |   |   | 2,395,542 |   |
|               |   |   |      |   |
|   Totals |   | $      | 5,335,658 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Years      EndedDecember 31,                                                                                        |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2008                                                                                                                     |   |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                                                                     |   |   |   |   |   |
| Current      Tax (Benefit) Expense                                                                                                                                                                                                                                                                                                                                                                                                         | $      | (40,509                                                                                                                  | )      |   | $ | 2,120 |   |
| Deferred      Tax Expense                                                                                                                                                                                                                                                                                                                                                                                                                  |   | -                                                                                                                        |   |   |   | - |   |
|                                                                         |   |                      |   |       |   |                      |   |
| Total Income Tax      Expense                                                                                                                                                                                                                                                                                                                                                                                                              | $      | (40,509                                                                                                                  | )      |   | $ | 2,120 |   |

| Expected      Volatility                                                  |   |            | 29.15  | %      |
|---------------------------------------------------------------------------|--------|-----------------|--------|--------|
| Expected      Term                                                        |   | 10.0      Years |   |
| Expected      Dividends                                                   |   | $               | 0.00   |   |
| Risk      Free Rate                                                       |   |            | 3.79   | %      |
| Weighted-Average      Fair Value of Options Granted      During 2008 |   | $               | .015   |   |

----

| Options                                                                                                                                                                              |               | Shares    |               | Weighted-AverageExercise Price                                                                                      |               | Weighted-AverageRemainingContractualTerm                                                                                 |               | AggregateIntrinsicValue                                                                                                  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|-----------|--------------------|--------------------------------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------------------------------|
|                                |     |      |     |                      |     |                      |     |                      |
| Outstanding      at January      1, 2008                                                                                                                                             |               | 402,000   |               | $.03                                                                                                                     |               |                                                                                                                     |               |                                                                                                                     |
| Granted                                                                                                                                                                              |               | 1,157,000 |               | $.05                                                                                                                     |               |                                                                                                                     |               |                                                                                                                     |
| Exercised                                                                                                                                                                            |               | 100,000   |               | $.03                                                                                                                     |               |                                                                                                                     |               |                                                                                                                     |
| Forfeited      or Expired                                                                                                                                                            |               | -         |               | -                                                                                                                        |               |                                                                                                                     |               |                                                                                                                     |
| Outstanding      at December      31, 2008                                                                                                                                           |               | 1,459,000 |               | $.046                                                                                                                    |               | 7.52                                                                                                                     |               | $.00                                                                                                                     |
| Exercisable      at December      31, 2008                                                                                                                                           |               | 1,459,000 |               | $.046                                                                                                                    |               | 7.52                                                                                                                     |               | $.00                                                                                                                     |

| Options                                                                                                                                                                              |               | Shares  |               | Weighted-AverageExercise Price                                                                                      |               | Weighted-AverageRemainingContractualTerm                                                                                 |               | AggregateIntrinsicValue                                                                                                  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|---------|--------------------|--------------------------------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------------------------------------------------------------------------------|
|                                |     |    |     |                      |     |                      |     |                      |
| Outstanding      at January      1, 2007                                                                                                                                             |               | 402,000 |               | $.03                                                                                                                     |               |                                                                                                                     |               |                                                                                                                     |
| Granted                                                                                                                                                                              |               | -       |               | -                                                                                                                        |               |                                                                                                                     |               |                                                                                                                     |
| Exercised                                                                                                                                                                            |               | -       |               | -                                                                                                                        |               |                                                                                                                     |               |                                                                                                                     |
| Forfeited      or Expired                                                                                                                                                            |               | -       |               | -                                                                                                                        |               |                                                                                                                     |               |                                                                                                                     |
| Outstanding      at December      31, 2007                                                                                                                                           |               | 402,000 |               | $.03                                                                                                                     |               | 2.45                                                                                                                     |               | $.00                                                                                                                     |
| Exercisable      at December      31, 2007                                                                                                                                           |               | 402,000 |               | $.03                                                                                                                     |               | 2.45                                                                                                                     |               | $.00                                                                                                                     |

----

| Year  |   | Amount |    |
|-------|--------|--------|---------|
| 2009  |   |   | 48,000  |   |
| 2010  |   |   | 48,000  |   |
| 2011  |   |   | 32,000  |   |
| Total |   | $      | 128,000 |   |

| Year  |   | Amount |   |
|-------|--------|--------|--------|
| 2009  |   |   | 26,700 |   |
| 2010  |   |   | 28,500 |   |
| 2011  |   |   | 25,000 |   |
| Total |   | $      | 80,200 |   |

----

| Year              |   | Amount |    |
|-------------------|--------|--------|---------|
|              |   |   |    |
| 2009              |   | $      | 150,000 |   |
| 2010              |   |   | 150,000 |   |
| 2011              |   |   | 106,452 |   |
|              |   |   |    |   |
|   Total |   | $      | 406,452 |   |

| Year   |   | Amount |    |
|--------|--------|--------|---------|
|   |   |   |    |
| 2009   |   |   | 66,000  |   |
| 2010   |   |   | 66,000  |   |
| 2011   |   |   | 44,000  |   |
|   |   |   |    |   |
|   |   | $      | 176,000 |   |

----

|                                                                                                                                                                                                                                                                                                   |   | December 31,      2008 |      |   | December 31,      2007 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|-----------|--------|-----------------------------|--------|
|                                                                                                                                                                                                                                                                                                   |   | CarryingAmount              |      |   | FairValue                   |   |   | CarryingAmount |   |   | FairValue |   |
|                                                   |   |                        |      |   |                        |   |   |   |   |   |   |   |
| Financial      Assets                                                                                                                                                                                                                                                                                  |   |                        |      |   |                        |   |   |   |   |   |   |   |
|    Cash      and Cash Equivalents                                                                                                                                                                                                                                                       |   | $                           | 366,844   |   |                        | $      | 366,844 |   |   | $ | 283,988 |   |   | $ | 283,988 |   |
|    Restricted      Cash                                                                                                                                                                                                                                                                 |   |                        | 353,702   |   |                        |   | 353,702 |   |   |   | 531,343 |   |   |   | 531,343 |   |
| Financial      Liabilities                                                                                                                                                                                                                                                                             |   |                        |      |   |                        |   |   |   |   |   |   |   |   |   |   |   |
|    Notes      Payable                                                                                                                                                                                                                                                                   |   | $                           | 5,335,658 |   |                        | $      | 5,335,658 |   |   | $ | 70,000 |   |   | $ | 70,000 |   |