----

----

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

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------|

|   | For the transition period from: ________ to ________. |
|--------|-------------------------------------------------------|

| Nevada                                                         | 75-1695953                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

----

----

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KENT FINANCIAL 

|                                                                                            |                                                                                  | Page   |
|-------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|--------|
|                                                                                            |                                                                                  | Number |
|                                                                                            |                                                                                  |   |
|                                                                                            | PART I. FINANCIAL INFORMATION                                                         |   |
|                                                                                            |                                                                                  |   |
| Item 1.                                                                                         | Financial Statements                                                                  |   |
|                                                                                            |                                                                                  |   |
| Consolidated Balance Sheets as of June 30, 2009 and December 31, 2008                           | 3                                                                                     |
|                                                                                            |                                                                                  |   |
| Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2009 and 2008 | 4                                                                                     |
|                                                                                            |                                                                                  |   |
| Consolidated Statements of Cash Flows Six Months Ended June 30, 2009 and 2008                   | 5                                                                                     |
|                                                                                            |                                                                                  |   |
| Notes to Consolidated Financial Statements                                                      | 6                                                                                     |
|                                                                                            |                                                                                  |   |
| Item 2.                                                                                         | Management's Discussion and Analysis of Financial Condition and Results of Operations | 11     |
|                                                                                            |                                                                                  |   |
| Item 3.                                                                                         | Quantitative and Qualitative Disclosure About Market Risk                             | 15     |
|                                                                                            |                                                                                  |   |
| Item 4.                                                                                         | Controls and Procedures                                                               | 15     |
|                                                                                            |                                                                                  |   |
|                                                                                            | PART II. OTHER INFORMATION                                                            |   |
|                                                                                            |                                                                                  |   |
| Item 1.                                                                                         | Legal Proceedings                                                                     | 15     |
|                                                                                            |                                                                                  |   |
| Item 1a.                                                                                        | Risk Factors                                                                          | 15     |
|                                                                                            |                                                                                  |   |
| Item 2.                                                                                         | Unregistered Sales of Equity Securities and Use of Proceeds                           | 16     |
|                                                                                            |                                                                                  |   |
| Item 3.                                                                                         | Defaults Upon Senior Securities                                                       | 16     |
|                                                                                            |                                                                                  |   |
| Item 4.                                                                                         | Submission of Matters to a Vote of Security Holders                                   | 16     |
|                                                                                            |                                                                                  |   |
| Item 5.                                                                                         | Other Information                                                                     | 16     |
|                                                                                            |                                                                                  |   |
| Item 6.                                                                                         | Exhibits                                                                              | 17     |
|                                                                                            |                                                                                  |   |
| Signatures                                                                                      | 18                                                                                    |

----

Table of Contents

PART I   -FINANCIAL INFORMATION

| Item 1. - | Financial Statements |
|-----------|----------------------|

KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES

| ASSETS                                                                                                           |   | June 30, 2009 (Unaudited) |       |   | December 31, 2008 |   |
|------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|------------|--------|------------------------|--------|
|                                                                                                             |   |                           |       |   |                   |   |
| Current Assets:                                                                                                  |   |                           |       |   |                   |   |
| Cash and cash equivalents                                                                                        |   | $                              | 11,722,564 |   |                   | $      | 1,990,753 |   |
| Short-term investments                                                                                           |   |                           |       |   |                   |   | 10,090,292 |   |
| Marketable securities                                                                                            |   |                           | 66,155     |   |                   |   | 70,450 |   |
| Accounts receivable                                                                                              |   |                           | 54,694     |   |                   |   | 55,895 |   |
| Prepaid expenses and other current assets                                                                        |   |                           | 32,541     |   |                   |   | 14,769 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total current assets                                                                                             |   |                           | 11,875,954 |   |                   |   | 12,222,159 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Property and equipment, net of accumulated depreciation of $5,811 and $10,728                                    |   |                           | 19,143     |   |                   |   | 21,618 |   |
| Other assets                                                                                                     |   |                           | 16,000     |   |                   |   | 16,000 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total assets                                                                                                     |   | $                              | 11,911,097 |   |                   | $      | 12,259,777 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| LIABILITIES                                                                                                      |   |                           |       |   |                   |   |   |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Current liabilities:                                                                                             |   |                           |       |   |                   |   |   |   |
| Accounts payable and accrued expenses                                                                            |   | $                              | 197,717    |   |                   | $      | 227,497 |   |
| Deferred revenue                                                                                                 |   |                           |       |   |                   |   | 64,817 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total current liabilities                                                                                        |   |                           | 197,717    |   |                   |   | 292,314 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Noncurrent liabilities:                                                                                          |   |                           |       |   |                   |   |   |   |
| Accrued post employment obligations                                                                              |   |                           | 720,000    |   |                   |   | 720,000 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total liabilities                                                                                                |   |                           | 917,717    |   |                   |   | 1,012,314 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| EQUITY                                                                                                           |   |                           |       |   |                   |   |   |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Kent Financial Services shareholders' equity                                                                     |   |                           |       |   |                   |   |   |   |
| Preferred stock without par value; 500,000 shares authorized; none outstanding                                   |   |                           | -          |   |                   |   | - |   |
| Common stock, $.10 par value; 8,000,000 shares authorized; 2,759,193 and 2,759,293 shares issued and outstanding |   |                           | 275,919    |   |                   |   | 275,929 |   |
| Additional paid-in capital                                                                                       |   |                           | 12,344,796 |   |                   |   | 12,344,949 |   |
| Accumulated deficit                                                                                              |   |                           | (6,497,453 | )      |                   |   | (6,293,407 | ) |
| Accumulated other comprehensive loss                                                                             |   |                           | (50,119    | )      |                   |   | (45,824 | ) |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total Kent Financial Services shareholders' equity                                                               |   |                           | 6,073,143  |   |                   |   | 6,281,647 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Noncontrolling interest in subsidiaries                                                                          |   |                           | 4,920,237  |   |                   |   | 4,965,816 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total equity                                                                                                     |   |                           | 10,993,380 |   |                   |   | 11,247,463 |   |
|                                                                                                             |   |                           |       |   |                   |   |   |   |
| Total liabilities and equity                                                                                     |   | $                              | 11,911,097 |   |                   | $      | 12,259,777 |   |

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Table of Contents

KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES

|                                                          |   | Three Months Ended |      |   | Six Months Ended |   |
|---------------------------------------------------------------|--------|--------------------|-----------|--------|------------------|--------|
|                                                          |   | June 30,      |      |   | June 30,    |   |
|                                                          |   | 2009               |      |   | 2008             |   |   | 2009 |   |   | 2008 |   |
| Revenues:                                                     |   |               |      |   |             |   |   |   |   |   |   |   |
| Seminar fees                                                  |   | $                  | 54,284    |   |             | $      | 64,557 |   |   | $ | 164,567 |   |   | $ | 134,355 |   |
| Interest and dividends                                        |   |               | 5,173     |   |             |   | 87,531 |   |   |   | 12,756 |   |   |   | 182,740 |   |
| Realized gains (losses)                                       |   |               |      |   |             |   |   |   |   |   | 10,034 |   |   |   | (660 | ) |
| Other income                                                  |   |               | 11,207    |   |             |   | 9,397 |   |   |   | 13,686 |   |   |   | 79,224 |   |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Total revenues                                                |   |               | 70,664    |   |             |   | 161,485 |   |   |   | 201,043 |   |   |   | 395,659 |   |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                     |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| General and administrative                                    |   |               | 197,196   |   |             |   | 230,123 |   |   |   | 449,055 |   |   |   | 552,282 |   |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Loss before income taxes and minority interest                |   |               | (126,532  | )      |             |   | (68,638 | ) |   |   | (248,012 | ) |   |   | (156,623 | ) |
| Provision for income taxes                                    |   |               |      |   |             |   | (1,030 | ) |   |   | (1,613 | ) |   |   | (2,140 | ) |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                      |   |               | (126,532  | )      |             |   | (69,668 | ) |   |   | (249,625 | ) |   |   | (158,763 | ) |
| Add: net loss attributable to noncontrolling interest         |   |               | 29,214    |   |             |   | 1,072 |   |   |   | 45,579 |   |   |   | 25,527 |   |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net loss attributable to Kent Financial Services shareholders |   |               | (97,318   | )      |             |   | (68,596 | ) |   |   | (204,046 | ) |   |   | (133,236 | ) |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive gain (loss):                              |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized gain (loss) on available for sale securities       |   |               | 15,138    |   |             |   | (3,550 | ) |   |   | (4,295 | ) |   |   | (12,429 | ) |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive loss                                            |   | $                  | (82,180   | )      |             | $      | (72,146 | ) |   | $ | (208,341 | ) |   | $ | (145,665 | ) |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted net loss per common share                   |   | $                  | (0.04     | )      |             | $      | (0.02 | ) |   | $ | (0.07 | ) |   | $ | (0.05 | ) |
|                                                          |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of common shares outstanding          |   |               | 2,759,200 |   |             |   | 2,792,022 |   |   |   | 2,759,246 |   |   |   | 2,792,022 |   |

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KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES

|                                                                        |   | Six Months Ended |       |
|-----------------------------------------------------------------------------|--------|------------------|------------|
|                                                                        |   | March 31,   |       |
|                                                                        |   | 2009             |       |   | 2008 |   |
| Cash flows from operating activities:                                       |   |             |       |   |   |   |
| Net loss                                                                    |   | $                | (204,046   | ) |   | $ | (133,236 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |             |       |   |   |   |   |   |
| (Gain) loss on sale of marketable securities                                |   |             | (10,034    | ) |   |   | 660 |   |
| Depreciation                                                                |   |             | 2,475      |   |   |   | 1,558 |   |
| Minority interest in subsidiaries losses                                    |   |             | (45,579    | ) |   |   | (25,527 | ) |
| Changes to operating assets and liabilities:                                |   |             |       |   |   |   |   |   |
| Interest receivable on short-term investments                               |   |             | 1,125      |   |   |   | 26,566 |   |
| Change in accounts receivable                                               |   |             | 1,201      |   |   |   | 64,746 |   |
| Change in prepaid expenses and other current assets                         |   |             | (17,772    | ) |   |   | 36,680 |   |
| Change in accounts payable and accrued expenses                             |   |             | (29,780    | ) |   |   | (1,121 | ) |
| Change in deferred revenue                                                  |   |             | (64,817    | ) |   |   |   |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Net cash used in operating activities                                       |   |             | (367,227   | ) |   |   | (29,674 | ) |
|                                                                        |   |             |       |   |   |   |   |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Cash flows from investing activities:                                       |   |             |       |   |   |   |   |   |
| Sales of marketable securities                                              |   |             | 629,031    |   |   |   | 2,405 |   |
| Sales and maturities of short-term investments                              |   |             | 10,089,167 |   |   |   | 12,226,771 |   |
| Purchases of short-term investments                                         |   |             |       |   |   |   | (11,549,243 | ) |
| Acquisition of property and equipment                                       |   |             |       |   |   |   | (24,954 | ) |
| Purchases of marketable securities                                          |   |             | (618,997   | ) |   |   |   |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Net cash provided by investing activities                                   |   |             | 10,099,201 |   |   |   | 654,979 |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Cash flows from financing activities:                                       |   |             |       |   |   |   |   |   |
| Repurchase of common stock                                                  |   |             | (163       | ) |   |   |   |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Net cash used in financing activities                                       |   |             | (163       | ) |   |   | - |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Net increase in cash and cash equivalents                                   |   |             | 9,731,811  |   |   |   | 625,305 |   |
| Cash and cash equivalents at beginning of period                            |   |             | 1,990,753  |   |   |   | 134,927 |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Cash and cash equivalents at end of period                                  |   | $                | 11,722,564 |   |   | $ | 760,232 |   |
|                                                                        |   |             |       |   |   |   |   |   |
| Supplemental disclosure of cash flow information:                           |   |             |       |   |   |   |   |   |
| Cash paid for:                                                              |   |             |       |   |   |   |   |   |
| Taxes                                                                       |   | $                | 1,613      |   |   | $ | 2,140 |   |

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Table of Contents

KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES

----

Table of Contents

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Table of Contents

|                                |   | Business    |       |   |        |   |     |       |   |   |         |   |   |         |     |
|-------------------------------------|--------|-------------|------------|--------|-------------|--------|----------|------------|--------|--------|--------------|--------|--------|--------------|----------|
|                                |   | Development |       |   | Educational |   |     | All Other  |   |   |         |   |   | Consolidated |     |
|                                |   | Activities  |       |   | Services    |   |     | Operations |   |   | Eliminations |   |   | Totals       |     |
| Three Months Ended June 30, 2009    |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |
| Revenues from external customers    |   |        |       |   | $           | 54,389 |     |       | $      | 3,943  |         |   |   |         |     | $ | 58,332 |   |
| Management fees                     |   |        |       |   |        |   |     |       |   | 63,000 |         |   | $      | (63,000      | )        |   |   |   |   |
| Interest and dividend revenue       |   | $           | 4,692      |   |        |   | 9        |       |   |   | 472          |   |   |         |     |   |   |   | 5,173 |   |
| Other revenue                       |   |        |       |   |        |   |     |       |   |   | 7,159        |   |   |         |     |   |   |   | 7,159 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Total revenues                      |   |        | 4,692      |   |        |   | 54,398   |       |   |   | 74,574       |   |   |         | (63,000  | ) |   |   | 70,664 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| General and administrative expenses |   |        | (90,984    | )      |        |   | (29,547  | )          |   |   | (139,665     | )      |   |         | 63,000   |   |   |   | (197,196 | ) |
| Minority interest                   |   |        | 39,154     |   |        |   | (9,940   | )          |   |   |         |   |   |         |     |   |   |   | 29,214 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Net income (loss) by segment        |   | $           | (47,138    | )      |        | $      | 14,911   |       |   | $      | (65,091      | )      |   | $            | -        |   |   | $ | (97,318 | ) |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Six Months Ended June 30, 2009      |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Revenues from external customers    |   |        |       |   |        | $      | 164,742  |       |   | $      | 6,352        |   |   |         |     |   |   | $ | 171,094 |   |
| Management fees                     |   |        |       |   |        |   |     |       |   |   | 126,000      |   |   | $            | (126,000 | ) |   |   |   |   |
| Interest and dividend revenue       |   | $           | 10,455     |   |        |   | 35       |       |   |   | 2,266        |   |   |         |     |   |   |   | 12,756 |   |
| Investing gains                     |   |        |       |   |        |   | 10,034   |       |   |   |         |   |   |         |     |   |   |   | 10,034 |   |
| Other revenue                       |   |        |       |   |        |   |     |       |   |   | 7,159        |   |   |         |     |   |   |   | 7,159 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Total revenues                      |   |        | 10,455     |   |        |   | 174,811  |       |   |   | 141,777      |   |   |         | (126,000 | ) |   |   | 201,043 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| General and administrative expenses |   |        | (203,334   | )      |        |   | (67,988  | )          |   |   | (303,733     | )      |   |         | 126,000  |   |   |   | (449,055 | ) |
| Income tax expense                  |   |        |       |   |        |   | (1,613   | )          |   |   |         |   |   |         |     |   |   |   | (1,613 | ) |
| Minority interest                   |   |        | 87,758     |   |        |   | (42,179  | )          |   |   |         |   |   |         |     |   |   |   | 45,579 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Net income (loss) by segment        |   | $           | (105,121   | )      |        | $      | 63,031   |       |   | $      | (161,956     | )      |   | $            | -        |   |   | $ | (204,046 | ) |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| As of June 30, 2009                 |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Total assets by segment             |   | $           | 10,202,028 |   |        | $      | 472,699  |       |   | $      | 1,236,370    |   |   | $            | -        |   |   | $ | 11,911,097 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Three Months Ended June 30, 2008    |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Revenues from external customers    |   |        |       |   |        | $      | 66,020   |       |   | $      | 7,309        |   |   |         |     |   |   | $ | 73,329 |   |
| Management fees                     |   |        |       |   |        |   |     |       |   |   | 63,000       |   |   | $            | (63,000  | ) |   |   |   |   |
| Interest revenue                    |   | $           | 77,279     |   |        |   | 1,130    |       |   |   | 9,122        |   |   |         |     |   |   |   | 87,531 |   |
| Other revenue                       |   |        | 625        |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   | 625 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Total revenues                      |   |        | 77,904     |   |        |   | 67,150   |       |   |   | 79,431       |   |   |         | (63,000  | ) |   |   | 161,485 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| General and administrative expenses |   |        | (100,135   | )      |        |   | (44,383  | )          |   |   | (148,605     | )      |   |         | 63,000   |   |   |   | (230,123 | ) |
| Income tax expense                  |   |        | (510       | )      |        |   |     |       |   |   | (520         | )      |   |         |     |   |   |   | (1,030 | ) |
| Minority interest                   |   |        | 10,179     |   |        |   | (9,107   | )          |   |   |         |   |   |         |     |   |   |   | 1,072 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Net income (loss) by segment        |   | $           | (12,562    | )      |        | $      | 13,660   |       |   | $      | (69,694      | )      |   | $            | -        |   |   | $ | (68,596 | ) |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Six Months Ended June 30, 2008      |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Revenues from external customers    |   |        |       |   |        | $      | 136,755  |       |   | $      | 76,199       |   |   |         |     |   |   | $ | 212,954 |   |
| Management fees                     |   |        |       |   |        |   |     |       |   |   | 126,000      |   |   | $            | (126,000 | ) |   |   |   |   |
| Interest revenue                    |   | $           | 160,795    |   |        |   | 3,104    |       |   |   | 18,841       |   |   |         |     |   |   |   | 182,740 |   |
| Investing losses                    |   |        |       |   |        |   |     |       |   |   | (660         | )      |   |         |     |   |   |   | (660 | ) |
| Other revenue                       |   |        | 625        |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   | 625 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Total revenues                      |   |        | 161,420    |   |        |   | 139,859  |       |   |   | 220,380      |   |   |         | (126,000 | ) |   |   | 395,659 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| General and administrative expenses |   |        | (213,296   | )      |        |   | (142,779 | )          |   |   | (322,207     | )      |   |         | 126,000  |   |   |   | (552,282 | ) |
| Income tax expense                  |   |        | (510       | )      |        |   | (1,110   | )          |   |   | (520         | )      |   |         |     |   |   |   | (2,140 | ) |
| Minority interest                   |   |        | 24,410     |   |        |   | 1,117    |       |   |   |         |   |   |         |     |   |   |   | 25,527 |   |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Net loss by segment                 |   | $           | (27,976    | )      |        | $      | (2,913   | )          |   | $      | (102,347     | )      |   | $            | -        |   |   | $ | (133,236 | ) |
|                                |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| As of June 30, 2008                 |   |        |       |   |        |   |     |       |   |   |         |   |   |         |     |   |   |   |   |   |
| Total assets by segment             |   | $           | 10,544,121 |   |        | $      | 369,331  |       |   | $      | 1,619,903    |   |   | $            | -        |   |   | $ | 12,533,355 |   |

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|                        |   |          |   |   | June 30, 2009   |   |   | December 31, 2008                           |   |
|-----------------------------|--------|---------------|--------|--------|----------------------|--------|--------|--------------------------------------------------|--------|
|                        |   |          |   |   |                 |   |   |                                             |   |   |   |   |   |   |   |
|                        |   | Percent Owned |   |   | Estimated Fair Value |   |   | Losses in Accumulated Other Comprehensive Income |   |   | Estimated Fair Value |   |   | Losses in Accumulated Other Comprehensive Income |   |
|                        |   |          |   |   |                 |   |   |                                             |   |   |   |   |   |   |   |
| GolfRounds.com, Inc.        |   |          | 4.35%  |   |                 | $      | 61,200 |                                             |   | $ | 40,800 |   |   | $ | 66,000 |   |   | $ | 36,000 |   |
| All other equity securities |   |          | N/A    |   |                 |   | 4,955  |                                             |   |   | 9,319 |   |   |   | 4,450 |   |   |   | 9,824 |   |
|                        |   |          |   |   |                 |   |   |                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|                        |   |          |   |   |                 | $      | 66,155 |                                             |   | $ | 50,119 |   |   | $ | 70,450 |   |   | $ | 45,824 |   |

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| Item 2.  - | Management's Discussion and Analysis of Financial Condition and Results of Operations |
|----------------------|---------------------------------------------------------------------------------------|

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| ITEM 3. - | Quantitative and Qualitative Disclosure About Market Risk. |
|-----------|------------------------------------------------------------|

| Item 4. - | Controls and Procedures |
|-----------|-------------------------|

| PART II - | OTHER INFORMATION |
|-----------|-------------------|

| ITEM 1. - | Legal Proceedings |
|-----------|-------------------|

| ITEM 1A. - | Risk Factors |
|------------|--------------|

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| ITEM 2. - | Unregistered Sales of Equity Securities and Use of Proceeds |
|-----------|-------------------------------------------------------------|

| Period                                                          |   | Total Number of Shares Purchased |   |   | Average Price Paid per Share |   |   | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |   |   | Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs |    |
|-----------------------------------------------------------------|--------|----------------------------------|--------|--------|------------------------------|--------|--------|----------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------|---------|
| April 1, 2009 -    April 30, 2009 |   |                             |   |   |                         |   |   |                                                                             |   |   |                                                                           | 135,081 |   |
| May 1, 2009 -    May 31, 2009     |   |                             | 100    |   |                         | $      | 1.63   |                                                                             |   |   | 100                                                                            |    |   |   | 134,981 |   |
| June 1, 2009 -   June 30, 2009         |   |                             |   |   |                         |   |   |                                                                             |   |   |                                                                           |    |   |   | 134,981 |   |
| Total                                                           |   |                             | 100    |   |                         | $      | 1.63   |                                                                             |   |   | 100                                                                            |    |   |   | 134,981 |   |

| ITEM 3. - | Defaults Upon Senior Securities |
|-----------|---------------------------------|

| ITEM 4. - | Submission of Matters to a Vote of Security Holders |
|-----------|-----------------------------------------------------|

| ITEM 5. - | Other Information |
|-----------|-------------------|

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| ITEM 6. - | Exhibits |
|-----------|----------|

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

|   | 3.1 | Bylaws of the Registrant, as amended. (l) |
|--------|-----|-------------------------------------------|

|   | 3.2(a) | Articles of Incorporation of Registrant, as amended (including certificate of stock designation for $2.575 Cumulative Convertible Exchangeable Preferred Stock). (2) |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2(b) | Certificate of Amendment to Certificate of Incorpora­tion. (3) |
|--------|--------|---------------------------------------------------------------------|

|   | 3.2(c) | Certificate of Amendment to Certificate of Incorporation dated September 26, 1991. (4) |
|--------|--------|----------------------------------------------------------------------------------------|

|   | 10.1 | Employment Agreement dated May 12, 2008 by and between Kent Financial Services, Inc. and Paul O. Koether. (5) ** |
|--------|------|------------------------------------------------------------------------------------------------------------------|

|   | 10.2 | Employment Agreement dated May 1, 2006 by and between Kent Financial Services, Inc. and Bryan P. Healey. (6) ** |
|--------|------|-----------------------------------------------------------------------------------------------------------------|

|   | 31.1 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|--------|------|--------------------------------------------------------------------------|

|   | 31.2 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|--------|------|--------------------------------------------------------------------------|

|   | 32 | Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|--------|----|--------------------------------------------------------------------------|

| (1) | Incorporated by reference to Texas American Energy Corporation Registration Statement, as amended, on Form S-l, No. 33-11109. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (2) | Incorporated by reference to Texas American Energy Corporation Form 10-K, for the fiscal year ended December 31, 1984. |
|-----|------------------------------------------------------------------------------------------------------------------------|

| (3) | Incorporated by reference to Texas American Energy Corporation Form 10-K for the fiscal year ended December 31, 1987. |
|-----|-----------------------------------------------------------------------------------------------------------------------|

| (4) | Incorporated by reference to Kent Financial Services, Inc. Form 10-Q for the quarter ended September 30, 1991. |
|-----|----------------------------------------------------------------------------------------------------------------|

| (5) | Incorporated by reference to Kent Financial Services, Inc., Form 10-Q for the quarter ended June 30, 2008. |
|-----|------------------------------------------------------------------------------------------------------------|

| (6) | Incorporated by reference to Kent Financial Services, Inc. Form 8-K filed on May 1, 2006. |
|-----|-------------------------------------------------------------------------------------------|

| ** | Compensatory Plan |
|----|-------------------|

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SIGNATURES

|                   | KENT FINANCIAL SERVICES, INC. |   |
|------------------------|-------------------------------|--------|
|                   |                          |   |   |   |
|                   |                          |   |   |   |
| Dated: August 10, 2009 |                          | By:    | /s/ Bryan P. Healey |   |
|                   |                          |   | Bryan P. Healey |   |
|                   |                          |   | Chief Financial Officer |   |
|                   |                          |   | (Principal Financial and Accounting Officer) |   |

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