| ****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** |
|-----------|-----------------------------------------------------------------------------------------------------|
| **Texas**                    | **75-2375969**                                    |
|------------------------------|---------------------------------------------------|
| **(State of incorporation)** | **(I.R.S. employer identification          no.)** |

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

----

| **PART I******                                                                             | **FINANCIAL INFORMATION**                                                                                 | **Page No.** |
|--------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|--------------|
|                                                                                       |                                                                                                      |         |
| **Item 1.**                                                                                | **Unaudited Consolidated Financial Statements:**                                                          | ** **   |
| ****                                                                                       | ** **                                                                                                | ** **   |
| ****                                                                                       | **Consolidated Balance Sheets      at March 31, 2008 (unaudited) and December 31, 2007**                  | **3**        |
| ****                                                                                       | ** **                                                                                                | ** **   |
| ****                                                                                       | **Consolidated Statements      of Operations for Three Months Ended March 31, 2008 and 2007 (unaudited)** | **4**        |
| ****                                                                                       | ** **                                                                                                | ** **   |
| ****                                                                                       | **Consolidated Statements of      Cash Flows for Three Months Ended March 31, 2008 and 2007 (unaudited)** | **5**        |
| ****                                                                                       | ** **                                                                                                | ** **   |
| ****                                                                                       | **Notes to Unaudited Consolidated      Financial Statements**                                             | **6**        |
| ****                                                                                       | ** **                                                                                                | ** **   |
| **Item 2.**                                                                                | **Management Discussion and Analysis      of Financial Condition and Results of Operations**              | **16**       |
|                                                                                       |                                                                                                      |         |
| **Item 3T.**                                                                               | **Controls and Procedures**                                                                               | **23**       |
| ** **                                                                                 | ** **                                                                                                |         |
| **PART II**                                                                                | **OTHER INFORMATION**                                                                                     | ** **   |
|                                                                                       |                                                                                                      |         |
| **Item 1.**                                                                                | **Legal Proceedings**                                                                                     | **24**       |
|                                                                                       |                                                                                                      | ** **   |
| **Item 2.**                                                                                | **Unregistered Sales of Equity Securities and Use of Proceeds**                                           | **24**       |
|                                                                                       |                                                                                                      | ** **   |
| **Item 3.**                                                                                | **Defaults in Senior Securities**                                                                         | **24**       |
|                                                                                       |                                                                                                      | ** **   |
| **Item 4.**                                                                                | **Submission of Matters to a Vote of Security Holders**                                                   | **24**       |
|                                                                                       |                                                                                                      | ** **   |
| **Item 5.**                                                                                | **Other Information**                                                                                     | **24**       |
|                                                                                       |                                                                                                      | ** **   |
| **Item 6.**                                                                                | **Exhibits**                                                                                              | **24**       |
|                                                                                       |                                                                                                      | ** **   |
| **Signatures**                                                                             | **25**                                                                                                    |
| **Exhibit 31.1 Certification of      Chief Executive Officer**                             | **26**                                                                                                    |
| **Exhibit 31.2 Certification of      Chief Financial Officer**                             | **27**                                                                                                    |
| **Exhibit 32.1 Certification of      Chief Executive Officer and Chief Financial Officer** | **28**                                                                                                    |

----

|                                                                                                                                                                                                                                                                                                             | **March 31,**   |            | December 31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|-----------------|--------------|--------|
| **ASSETS**                                                                                                                                                                                                                                                                                                  | **2008**        |            | 2007         |   |
|                                                                                                                                                                                                                                                                                                             | **(Unaudited)** |            |         |   |   |
| Cash and cash equivalents                                                                                                                                                                                                                                                                                   | **$**           | **6,305,469**   |         | $      | 7,937,880 |   |
| Cash segregated in compliance with federal        regulations                                                                                                                                                                                                                                               |            | **164,844,125** |         |   | 144,225,499 |   |
| Receivables from brokers, dealers and clearing        organizations                                                                                                                                                                                                                                         |            | **19,591,635**  |         |   | 24,902,262 |   |
| Receivables from customers and        non-customers                                                                                                                                                                                                                                                         |            | **21,357,603**  |         |   | 47,261,886 |   |
| Property and equipment, net                                                                                                                                                                                                                                                                                 |            | **1,182,440**   |         |   | 1,150,312 |   |
| Capitalized software development costs, net                                                                                                                                                                                                                                                                 |            | **1,879,921**   |         |   | 1,883,375 |   |
| Intangible assets, net                                                                                                                                                                                                                                                                                      |            | **5,143,233**   |         |   | 5,481,660 |   |
| Goodwill                                                                                                                                                                                                                                                                                                    |            | **7,501,408**   |         |   | 7,501,408 |   |
| Deferred income taxes, net                                                                                                                                                                                                                                                                                  |            | **1,526,947**   |         |   | 1,569,892 |   |
| Other assets                                                                                                                                                                                                                                                                                                |            | **1,492,643**   |         |   | 1,309,190 |   |
|           Total        assets                                                                                                                                                                                                                             | **$**           | **230,825,424** |         | $      | 243,223,364 |   |
|                                                                                                                                                                                                                                                                                                        |            |            |         |   |   |   |
| **LIABILITIES AND SHAREHOLDERS'          EQUITY**                                                                                                                                                                                                                                                           |            |            |         |   |   |   |
| Line of credit                                                                                                                                                                                                                                                                                              | **$**           | **-**           |         | $      | 10,848,000 |   |
| Payables to brokers, dealers and clearing        organizations                                                                                                                                                                                                                                              |            | **875,488**     |         |   | 694,148 |   |
| Payables to customers and non-customers                                                                                                                                                                                                                                                                     |            | **192,734,068** |         |   | 194,493,946 |   |
| Accounts payable and accrued expenses                                                                                                                                                                                                                                                                       |            | **4,339,874**   |         |   | 3,407,832 |   |
| Accrued preferred stock dividends                                                                                                                                                                                                                                                                           |            | **8,787**       |         |   | 29,950 |   |
| Income tax liability                                                                                                                                                                                                                                                                                        |            | **142,800**     |         |   | 592,918 |   |
|           Total        liabilities                                                                                                                                                                                                                        |            | **198,101,017** |         |   | 210,066,794 |   |
|                                                                                                                                                                                                                                                                                                        |            |            |         |   |   |   |
| Commitments and contingencies                                                                                                                                                                                                                                                                               |            |            |         |   |   |   |
|                                                                                                                                                                                                                                                                                                        |            |            |         |   |   |   |
| Shareholders' equity                                                                                                                                                                                                                                                                                        |            |            |         |   |   |   |
| Preferred stock - $10 par value; 5,000,000        shares authorized                                                                                                                                                                                                                                         |            |            |         |   |   |   |
|   Preferred stock - cumulative;        $10 par value; 38,792 shares authorized;             14,350 shares issued and outstanding at March        31, 2008 and December 31, 2007;             liquidation value of $145,144 at March 31, 2008              |            | **143,500**     |         |   | 143,500 |   |
|   Preferred stock - convertible        cumulative; $10 par value; 835,000 shares authorized;             49,480 shares issued and outstanding at March        31, 2008 and December 31, 2007;             liquidation value of $644,773 at March 31, 2008 |            | **494,800**     |         |   | 494,800 |   |
|   Common stock; $0.01 par        value, 150,000,000 shares authorized; 26,055,057 and 26,531,557            shares issued and outstanding at March 31, 2008        and December 31, 2007, respectively                                                                        |            | **260,551**     |         |   | 265,316 |   |
| Additional paid-in capital                                                                                                                                                                                                                                                                                  |            | **52,739,774**  |         |   | 53,339,299 |   |
| Accumulated deficit                                                                                                                                                                                                                                                                                         |            | **(20,914,218** | **)**        |   | (21,086,345 | ) |
|           Total        shareholders' equity                                                                                                                                                                                                               |            | **32,724,407**  |         |   | 33,156,570 |   |
|           Total        liabilities and shareholders' equity                                                                                                                                                                                               | **$**           | **230,825,424** |         | $      | 243,223,364 |   |
|                                                                                                                                                                                                                                                                                                        |            |            |         |   |   |   |
|                                                                                                                                                                                                                                                                                                        |            |            |         |   |   |   |
| See accompanying notes to unaudited          consolidated financial statements.                                                                                                                                                                                                                             |

----

|                                                                                               | **Three Months Ended March 31,** |                        |
|-----------------------------------------------------------------------------------------------|----------------------------------|-----------------------------|
|                                                                                          |                             | **2008**                    |   |   | 2007 |   |
| **REVENUES**                                                                                  | **(Unaudited)**                  | (as restated and unaudited) |
| Commissions and fees                                                                          | **$**                            | **8,168,755**               |   | $ | 8,067,862 |   |
| Interest income                                                                               |                             | **2,070,884**               |   |   | 3,499,050 |   |
| Software fees                                                                                 |                             | **555,722**                 |   |   | 103,119 |   |
| Other income                                                                                  |                             | **154,006**                 |   |   | 235,973 |   |
|                                                                                          |                             |                             |   |   |  |   |
|           Total          revenues           |                             | **10,949,367**              |   |   | 11,906,004 |   |
|                                                                                          |                             |                             |   |   |  |   |
| **OPERATING EXPENSES**                                                                        |                             |                             |   |   |  |   |
| Commissions and clearing                                                                      |                             | **2,677,927**               |   |   | 2,690,141 |   |
| Employee compensation                                                                         |                             | **3,022,051**               |   |   | 2,287,781 |   |
| Quotations and market          data                                                           |                             | **2,050,730**               |   |   | 1,523,285 |   |
| Interest expense on brokerage accounts                                                        |                             | **608,743**                 |   |   | 1,985,529 |   |
| Advertising and promotional                                                                   |                             | **106,989**                 |   |   | 241,617 |   |
| Professional fees                                                                             |                             | **793,244**                 |   |   | 417,619 |   |
| Communications and information          technology                                            |                             | **256,571**                 |   |   | 187,474 |   |
| Depreciation and amortization                                                                 |                             | **557,563**                 |   |   | 378,035 |   |
| Other general and administrative          expenses                                            |                             | **475,422**                 |   |   | 753,475 |   |
|                                                                                          |                             |                             |   |   |  |   |
|           Total          operating expenses |                             | **10,549,240**              |   |   | 10,464,956 |   |
|                                                                                          |                             |                             |   |   |  |   |
| Operating income                                                                              |                             | **400,127**                 |   |   | 1,441,048 |   |
|                                                                                          |                             |                             |   |   |  |   |
| Interest expense                                                                              |                             | **-**                       |   |   | (24,827 | ) |
|                                                                                          |                             |                             |   |   |  |   |
| Income before income          taxes                                                           |                             | **400,127**                 |   |   | 1,416,221 |   |
|                                                                                          |                             |                             |   |   |  |   |
| Income tax provision                                                                          |                             | **(228,000**                | **)** |   | (440,070 | ) |
|                                                                                          |                             |                             |   |   |  |   |
| Net income                                                                                    |                             | **172,127**                 |   |   | 976,151 |   |
|                                                                                          |                             |                             |   |   |  |   |
| Dividends on preferred          stock                                                         |                             | **(17,574**                 | **)** |   | (14,297 | ) |
|                                                                                          |                             |                             |   |   |  |   |
| Net income attributable          to common shareholders                                       | **$**                            | **154,553**                 |   | $ | 961,854 |   |
|                                                                                          |                             |                        |   |   |   |   |
| Net income per common          share:                                                         |                             |                        |   |   |   |   |
| Basic                                                                                         | **$**                            | **0.01**                    |   | $ | 0.03 |   |
|                                                                                          |                             |                        |   |   |   |   |
| Diluted                                                                                       | **$**                            | **0.01**                    |   | $ | 0.03 |   |
|                                                                                          |                             |                        |   |   |   |   |
| Weighted average number          of common shares outstanding:                                |                             |                        |   |   |   |   |
| Basic                                                                                         |                             | **26,421,079**              |   |   | 27,185,445 |   |
|                                                                                          |                             |                        |   |   |   |   |
| Diluted                                                                                       |                             | **26,421,079**              |   |   | 27,818,184 |   |
|                                                                                          |                             |                        |   |   |   |   |
|                                                                                          |                             |                        |   |   |   |   |

----

|                                                                                                                   | **Three Months Ended March 31,** |                        |
|-------------------------------------------------------------------------------------------------------------------|----------------------------------|-----------------------------|
|                                                                                                              |                             | **2008**                    |   |   | 2007 |   |
| **OPERATING ACTIVITIES**                                                                                          | **(Unaudited)**                  | (as restated and unaudited) |
| Net income                                                                                                        | **$**                            | **172,127**                 |   | $ | 976,151 |   |
| Adjustments to reconcile net income to            net cash provided by            (used in) operating activities: |                             |                             |   |   |  |   |
| Share-based compensation                                                                                          |                             | **42,484**                  |   |   | 21,830 |   |
| Depreciation and amortization                                                                                     |                             | **557,563**                 | **** |   | 378,035 |   |
| Amortization of debt            discount                                                                          |                             | **-**                       | **** |   | 6,149 |   |
| Deferred income tax provision                                                                                     |                             | **42,945**                  | **** |   | - |   |
| Gain on reversal of            liabilities                                                                        |                             | **354,000**                 |   |   | - |   |
| Loss on write-offs of assets                                                                                      |                             | **29,857**                  | **** |   | - |   |
| Change in assets and            liabilities                                                                       |                             |                             | **** |   |  |   |
| (Increase) decrease in assets:                                                                                    |                             |                             | **** |   |  |   |
| Cash segregated in            compliance with federal regulations                                                 |                             | **(20,618,626**             | **)** |   | 18,559,240 |   |
| Receivables from brokers, dealers and            clearing organizations                                           |                             | **5,310,627**               | **** |   | (29,416,548 | ) |
| Receivables from customers            and non-customers                                                           |                             | **25,904,283**              | **** |   | 5,639,093 |   |
| Other assets                                                                                                      |                             | **(183,454**                | **)** |   | (630,284 | ) |
| Increase (decrease)            in liabilities:                                                                    |                             |                             | **** |   |  |   |
| Payables to brokers, dealers and clearing            organizations                                                |                             | **181,340**                 | **** |   | 277,926 |   |
| Payables to customers            and non-customers                                                                |                             | **(1,759,879**              | **)** |   | 2,205,574 |   |
| Accounts payable and accrued expenses                                                                             |                             | **578,042**                 | **** |   | 528,208 |   |
| Income tax liability                                                                                              |                             | **(450,118**                | **)** |   | 440,070 |   |
|                                                                                                              |                             |                             |   |   |  |   |
| Net cash provided by            (used in) operating activities                                                    |                             | **10,161,191**              |   |   | (1,014,556 | ) |
|                                                                                                              |                             |                             |   |   |  |   |
| **INVESTING ACTIVITIES**                                                                                          |                             |                             |   |   |  |   |
| Purchase of property and equipment                                                                                |                             | **(161,103**                | **)** |   | (554,761 | ) |
| Capitalization of software            development costs                                                           |                             | **(116,563**                | **)** |   | (280,474 | ) |
|                                                                                                              |                             |                             | **** |   |  |   |
| Net cash (used in)            investing activities                                                                |                             | **(277,666**                | **)** |   | (835,235 | ) |
|                                                                                                              |                             |                        |   |   |  |   |
| **FINANCING ACTIVITIES**                                                                                          |                             |                        |   |   |  |   |
| Proceeds from exercise of stock options            and warrants                                                   |                             | **-**                       |   |   | 2,812 |   |
| Repurchase and retirement            of common stock                                                              |                             | **(629,199**                | **)** |   | - |   |
| Preferred dividends paid                                                                                          |                             | **(38,737**                 | **)** |   | - |   |
| Net payments on line            of credit                                                                         |                             | **(10,848,000**             | **)** |   | (2,655,000 | ) |
|                                                                                                              |                             |                             | **** |   |  |   |
| Net cash (used in)            financing activities                                                                |                             | **(11,515,936**             | **)** |   | (2,652,188 | ) |
|                                                                                                              |                             |                             | **** |   |  |   |
| Net decrease in cash            and cash equivalents                                                              |                             | **(1,632,411**              | **)** |   | (4,501,979 | ) |
| Cash and cash equivalents at beginning            of period                                                       |                             | **7,937,880**               |   |   | 5,733,813 |   |
| Cash and cash equivalents            at end of period                                                             | **$**                            | **6,305,469**               |   | $ | 1,231,834 |   |
|                                                                                                              |                             |                        |   |   |   |   |
| Supplemental Disclosure of Cash Flow            Information:                                                      |                             |                        |   |   |   |   |
| Cash paid for interest                                                                                            | **$**                            | **608,743**                 |   | $ | 1,985,529 |   |
|                                                                                                              |                             |                        |   |   |   |   |
| Cash paid for income taxes                                                                                        | **$**                            | **110,000**                 |   | $ | - |   |
|                                                                                                              |                             |                        |   |   |   |   |
| Supplemental Disclosure of Non-Cash Investing            and Financing Activities:                                |                             |                        |   |   |   |   |
| Preferred stock dividends            accrued                                                                      | **$**                            | **17,574**                  |   | $ | 14,297 |   |
|                                                                                                              |                             |                        |   |   |   |   |

----

| • | Securities and Exchange Commission ("SEC")      as a broker-dealer         |
|--------|----------------------------------------------------------------------------|
| • | Financial Industry Regulatory Authority ("FINRA")      as a broker-dealer  |
| • | Securities Investor Protection Corporation                                 |
| • | National Futures Association ("NFA") as a futures      commission merchant |
| • | The Depository Trust Company                                               |
| • | National Securities Clearing Corporation                                   |
| • | The Options Clearing Corporation                                           |
| • | Chicago Stock Exchange                                                     |
| • | Boston Options Exchange                                                    |
| • | International Securities Exchange                                          |
| • | National Stock Exchange                                                    |
| • | NYSE Arca Options                                                          |
| • | NYSE Arca Equities                                                         |
| • | American Stock Exchange                                                    |
| • | CBOE Stock Exchange                                                        |
| • | Nasdaq Stock Market                                                        |

| • | Market Wise Stock Trading School, LLC ("MW      School"), a financial markets education provider |
|--------|--------------------------------------------------------------------------------------------------|
| • | Market Wise Securities, LLC ("MW Securities"),      FINRA broker-dealer                          |
| • | RushTrade Securities, Inc. ("RushTrade"), FINRA      broker-dealer                               |
| • | LostView Development Corporation                                                                 |
| • | Rushmore Securities Corporation                                                                  |
| • | RushTrade.com, Inc.                                                                              |

----

----

|   |                                                |                                  |
|--------|-----------------------------------------------------|---------------------------------------|
|   |                                                     | **As of March 31, 2007**              |   |
|   | **Consolidated Balance      Sheet Data:**           | As previously        reported         |   | Adjustments |   | As restated |   |
|   | Total assets                                        | $                                     | 296,522,980 |   | $ | - |   | $ | 296,522,980 |   |   |
|   | Total liabilities                                   |                                  | 264,930,156 |   |   | - |   |   | 264,930,156 |   |   |
|   | Additional paid-in      capital                     |                                  | 49,731,070 |   |   | (104,831 | ) |   | 49,626,239 |   |   |
|   | Accumulated deficit                                 |                                  | (21,492,312) |   |   | 104,831 |   |   | (21,387,481 | ) |   |
|   | Total shareholders'      equity                     |                                  | 31,592,824 |   |   | - |   |   | 31,592,824 |   |   |
|   | Total liabilities and shareholders'      equity     | $                                     | 296,522,980 |   | $ | - |   | $ | 296,522,980 |   |   |
|   |                                                |                                  |
|   |                                                | **Three months ended March 31, 2007** |   |
|   | **Consolidated Statement      of Operations Data:** | As previously        reported         |   | Adjustments |   | As restated |   |
|   | Total revenues                                      | $                                     | 11,906,004 |   | $ | - |   | $ | 11,906,004 |   |   |
|   | Employee compensation                               |                                  | 2,392,612 |   |   | (104,831 | ) |   | 2,287,781 |   |   |
|   | Total operating expenses                            |                                  | 10,569,787 |   |   | (104,831 | ) |   | 10,464,956 |   |   |
|   | Operating income                                    |                                  | 1,336,217 |   |   | 104,831 |   |   | 1,441,048 |   |   |
|   | Net income                                          |                                  | 871,320 |   |   | 104,831 |   |   | 976,151 |   |   |
|   |                                                |                                  |  |   |   |  |   |   |  |   |   |
|   | Net income attributable      to common shareholders | $                                     | 857,023 |   | $ | 104,831 |   | $ | 961,854 |   |   |
|   | Net income per common share: Basic                  | $                                     | 0.03 |   | $ | 0.00 |   | $ | 0.03 |   |   |
|   | Net income per common      share: Diluted           | $                                     | 0.03 |   | $ | 0.00 |   | $ | 0.03 |   |   |
|   |                                                |                                  |
|   |                                                | **Three months ended March 31, 2007** |   |
|   | **Consolidated Statement      of Cash Flows Data:** | As previously        reported         |   | Adjustments |   | As restated |   |
|   | Net income                                          | $                                     | 871,320 |   | $ | 104,831 |   | $ | 976,151 |   |   |
|   | Share-based compensation                            |                                  | 125,664 |   |   | (104,831 | ) |   | 20,833 |   |   |
|   | Net cash used in operating      activities          | $                                     | (1,014,556 | ) | $ | - |   | $ | (1,014,556 | ) |   |
|   |                                                |                                  |

----

----

|   |                                               |            |
|--------|----------------------------------------------------|-----------------|
|   |                                                    | As of March 31, |   |
|   |                                                    | 2008            |   | 2007 |   |
|   | Weighted      average shares outstanding - Basic   | 26,421,079      |   | 27,185,445 |   |
|   | Dilutive stock options                             | -               |   | 24,939 |   |
|   | Dilutive warrants                                  | -               |   | 387,800 |   |
|   | Convertible bonds                                  | -               |   | 220,000 |   |
|   | Weighted average shares      outstanding - Diluted | 26,421,079      |   | 27,818,184 |   |
|   |                                               |            |

----

|   |                 |   |
|--------|----------------------|--------|
|   | Preferred      Stock |   | December 31, 2007 |  | Issued |  | Converted |  | March 31, 2008 |   |
|   | 9% Cumulative        |   | 2,000 |   | - |   | - |  | 2,000 |   |
|   | Series A             |   | 12,350 |   | - |   | - |  | 12,350 |   |
|   | Series B             |   | 9,520 |   | - |   | - |  | 9,520 |   |
|   | Series C             |   | 37,960 |   | - |   | - |  | 37,960 |   |
|   | Series E             |   | - |   | - |   | - |  | - |   |
|   | Series      2002A    |   | 2,000 |   | - |   | - |  | 2,000 |   |
|   | Total                |   | 63,830 |   | - |   | - |  | 63,830 |   |
|   |                 |   |

----

|                                                                                                                                  | Brokerage Services |        | Software Services |   | Total    |   |
|----------------------------------------------------------------------------------------------------------------------------------|--------------------|-------------|-------------------|--------|----------|--------|
| For the three months ended      March 31, 2008:                                                                                  |               |        |              |   |     |   |   |   |   |
| Revenues                                                                                                                         | $                  | 10,364,610  |              | $      | 575,743  |   | $ | 10,940,353 |   |
| Operating expenses                                                                                                               |               | 9,306,282   |              |   | 879,185  |   |   | 10,185,467 |   |
| Income (loss) before income taxes                                                                                                |               | 1,058,328   |              |   | (303,442 | )      |   | 754,886 |   |
|                                                                                                                             |               |        |              |   |     |   |   |   |   |
| Depreciation and amortization                                                                                                    |               | 421,658     |              |   | 73,355   |   |   | 495,013 |   |
|        Unallocated      amounts:                                                              |               |             |              |   |          |   |   |  |   |
|        Other      revenue                                                                     |               |             |              |   |          |   |   | 9,015 |   |
|        Stock-based      compensation                                                          |               |             |              |   |          |   |   | (42,484 | ) |
|        Depreciation      expense                                                              |               |             |              |   |          |   |   | (62,550 | ) |
|        Other      expense                                                                     |               |             |              |   |          |   |   | (258,740 | ) |
|        Interest      expense                                                                  |               |             |              |   |          |   |   | - |   |
|               Consolidated      income before income taxes |               |             |              |   |          |   | $ | 400,127 |   |
|                                                                                                                             |               |             |              |   |          |   |   |   |   |
| Capital expenditures and      software development                                                                               | $                  | 277,666     |              |   | -        |   | $ | 277,666 |   |
|                                                                                                                             |               |             |              |   |          |   |   |  |   |
| Total assets                                                                                                                     | $                  | 227,442,845 |              | $      | 547,166  |   | $ | 227,990,011 |   |
|        Unallocated      amounts:                                                              |               |        |              |   |     |   |   |  |   |
|        Unallocated      assets                                                                |               |        |              |   |     |   |   | 2,835,413 |   |
|               Total      assets                            |               |        |              |   |     |   | $ | 230,825,424 |   |
|                                                                                                                             |               |        |              |   |     |   |   |   |   |
|                                                                                                                                  | Brokerage Services |        | Software Services |   | Total    |   |
| For the three months ended      March 31, 2007:                                                                                  |               |        |              |   |     |   |   |   |   |
| Revenues                                                                                                                         | $                  | 11,789,473  |              | $      | 105,505  |   | $ | 11,894,978 |   |
| Operating expenses                                                                                                               |               | 9,863,451   |              |   | 433,053  |   |   | 10,296,504 |   |
| Income (loss) before income taxes                                                                                                |               | 1,926,023   |              |   | (327,549 | )      |   | 1,598,474 |   |
|                                                                                                                             |               |        |              |   |     |   |   |   |   |
| Depreciation and amortization                                                                                                    |               | 277,814     |              |   | 67,875   |   |   | 345,689 |   |
|        Unallocated      amounts:                                                              |               |             |              |   |          |   |   |  |   |
|        Other      revenue                                                                     |               |             |              |   |          |   |   | 11,026 |   |
|        Stock-based      compensation                                                          |               |             |              |   |          |   |   | (20,833 | ) |
|        Depreciation      expense                                                              |               |             |              |   |          |   |   | (32,346 | ) |
|        Other      expense                                                                     |               |             |              |   |          |   |   | (115,273 | ) |
|        Interest      expense                                                                  |               |             |              |   |          |   |   | (24,827 | ) |
|               Consolidated      income before income taxes |               |             |              |   |          |   | $ | 1,416,221 |   |
|                                                                                                                             |               |             |              |   |          |   |   |   |   |
| Capital expenditures and      software development                                                                               | $                  | 835,235     |              |   | -        |   | $ | 835,235 |   |
|                                                                                                                             |               |             |              |   |          |   |   |  |   |
| Total assets                                                                                                                     | $                  | 240,126,286 |              | $      | 346,657  |   | $ | 240,472,943 |   |
|        Unallocated      amounts:                                                              |               |        |              |   |     |   |   |  |   |
|             Unallocated assets                                                                     |               |        |              |   |     |   |   | 2,750,421 |   |
|               Total      assets                            |               |        |              |   |     |   | $ | 243,223,364 |   |
|                                                                                                                             |               |        |              |   |     |   |   |   |   |

----

| • | The 1997 Stock Option Plan ("1997 Plan");                                                                           |
|--------|---------------------------------------------------------------------------------------------------------------------|
| • | The Incentive Stock Option Plan ("ISO Plan");                                                                       |
| • | The 1999 Stock Bonus Plan ("1999 Plan");                                                                            |
| • | The 2000 Stock Option Plan ("2000 Plan"); and                                                                       |
| • | The 2002 Stock Option Plan ("2002 Plan" and,      collectively with the other plans listed above, the "Old Plans"). |

----

|   |                                               |   |
|--------|----------------------------------------------------|--------|
|   | Employee      Stock Option and       Warrant Plans |   | Authorized |  | Outstanding |  | Available |   |
|   | 2005 Long-Term Incentive      Plan                 |   | 1,450,144 |   | 781,274 |   | 668,870 |   |
|   | 2006      Warrant Incentive Plan                   |   | 3,500,000 |   | 3,027,500 |   | 472,500 |   |
|   | Total                                              |   | 4,950,144 |   | 3,808,774 |   | 1,141,370 |   |
|   |                                               |   |

|   |                                  |   |
|--------|---------------------------------------|--------|
|   | Employee      Stock Options           |   | Employee         Stock Options         Outstanding |   | Weighted         Average         Exercise Price |   | Weighted         Average         Remaining         Contract Term         (in years) |   |   | Aggregate         Intrinsic Value |   |
|   | Balance at December 31, 2007          |   | 785,574 |   |   | 1.74 |   | 4.4 |   | $ | - |   |
|   | Granted                               |   | - |   |   | - |   | - |   |   | - |   |
|   | Exercised                             |   | - |   |   | - |   | - |   | $ | - |   |
|   | Cancelled                             |   | (4,300 | ) |   | 7.06 |   | 4.4 |   | $ | - |   |
|   | Balance at March 31, 2008             |   | 781,274 |   | $ | 1.71 |   | 4.1 |   | $ | - |   |
|   | Options exercisable at March 31, 2008 |   | 117,000 |   | $ | 2.05 |   | 2.1 |   | $ | - |   |
|   |                                  |   |

|   |                                   |   |
|--------|----------------------------------------|--------|
|   | Employee      Warrants                 |   | Employee         Warrants        Outstanding |   | Weighted         Average         Exercise Price |   | Weighted         Average         Remaining         Contract Term        (in years) |   |   | Aggregate         Intrinsic Value |   |
|   | Balance at December 31,      2007      |   | 3,027,500 |   | $ | 2.56 |   | 3.6 |   | $ | - |   |
|   | Granted                                |   | - |   |   | - |   | - |   |   | - |   |
|   | Exercised                              |   | - |   |   | - |   | - |   |   | - |   |
|   | Cancelled                              |   | - |   |   | - |   | - |   |   | - |   |
|   | Balance at March 31, 2008              |   | 3,027,500 |   | $ | 2.56 |   | 3.3 |   | $ | - |   |
|   | Warrants exercisable at March 31, 2008 |   | 1,038,125 |   | $ | 2.62 |   | 3.3 |   | $ | - |   |
|   |                                   |   |

----

|   |                            |        |
|--------|---------------------------------|-------------|
|   |                                 |        |   |   | Net capital requirement |   | Excess net capital |   |
|   |                                 | Net Capital |   | FINRA |   | CFTC |   | FINRA |   | CFTC |   |
|   | Terra Nova Financial,      LLC  | $           | 14,743,996 |   | $ | 1,500,000 |   | $ | 500,000 |   | 13,243,996 |   | $ | 14,243,996 |   |
|   | Market Wise Securities, LLC     |        | 44,143 |   |   | 5,000 |   |   | - |   | 39,143 |   |   | - |   |
|   | RushTrade Securities,      Inc. |        | 35,073 |   |   | 5,000 |   |   | - |   | 30,073 |   |   | - |   |
|   |                            |        |

|   |                                     |                 |
|--------|------------------------------------------|----------------------|
|   |                                          | As of March 31, 2008 |   | As of December 31, 2007 |   |
|   |                                          | Receivables          |   | Payables |   | Receivables |   | Payables |   |
|   | Securities borrowed/loaned               | $                    | 11,236,473 |   | $ | - |   | $ | 18,487,925 |   | $ | - |   |
|   | Clearing deposits & receivables/payables |                 | 8,355,162 |   |   | 875,488 |   |   | 6,414,337 |   |   | 694,148 |   |
|   |                                     |                 |   |   |   |   |   |   |   |   |   |   |   |
|   | Total                                    | $                    | 19,591,635 |   | $ | 875,488 |   | $ | 24,902,262 |   | $ | 694,148 |   |
|   |                                     |                 |

----

----

| • | eliminate legacy dependencies on third parties      including networking, connectivity and data management services; |
|--------|----------------------------------------------------------------------------------------------------------------------|
| • | improve our process and ability to operate      as a trading platform neutral clearing agent;                        |
| • | refine our clearing processes;                                                                                       |
| • | deploy our capital in a manner to maximize      shareholder return; and                                              |
| • | increase number of users and trades executed      on the Tradient platforms                                          |

----

----

|   |                                             | For Three Months Ended March 31, |       |
|--------|---------------------------------------------|----------------------------------|------------|
|   | **Results of Continuing Operations**        | 2008                             |       | 2007 |   |
|   |                                        |                             |       |   | (as restated) |   |
|   | **Total revenues**                          | $                                | 10,949,367 |   | $ | 11,906,004 |   |
|   | Commissions and fees                        |                             | 8,168,755  |   |   | 8,067,862 |   |
|   | Interest income                             |                             | 2,070,884  |   |   | 3,499,050 |   |
|   | Software fees                               |                             | 555,722    |   |   | 103,119 |   |
|   | Other income                                |                             | 154,006    |   |   | 235,973 |   |
|   |                                        |                             |            |   |   |  |   |
|   | **Total operating expenses**                |                             | 10,549,240 |   |   | 10,464,956 |   |
|   | Commissions and clearing                    |                             | 2,677,927  |   |   | 2,690,141 |   |
|   | Employee compensation                       |                             | 3,022,051  |   |   | 2,287,781 |   |
|   | Quotations and market data                  |                             | 2,050,730  |   |   | 1,523,285 |   |
|   | Interest expense on brokerage      accounts |                             | 608,743    |   |   | 1,985,529 |   |
|   | Advertising and promotional                 |                             | 106,989    |   |   | 241,617 |   |
|   | Professional fees                           |                             | 793,244    |   |   | 417,619 |   |
|   | Communications and information technology   |                             | 256,571    |   |   | 187,474 |   |
|   | Depreciation      and amortization          |                             | 557,563    |   |   | 378,035 |   |
|   | Other general and administrative expense    |                             | 475,422    |   |   | 753,475 |   |
|   |                                        |                             |            |   |   |  |   |
|   | **Interest expense**                        |                             | -          |   |   | (24,827 | ) |
|   | ****                                        |                             |            |   |   |  |   |
|   | **Income before income taxes**              |                             | 400,127    |   |   | 1,416,221 |   |
|   | ****                                        |                             |            |   |   |  |   |
|   | **Income tax provision**                    |                             | (228,000   | ) |   | (440,070 | ) |
|   | ****                                        |                             |            |   |   |  |   |
|   | **Net income**                              | $                                | 172,127    |   | $ | 976,151 |   |

----

| • | Increased number of Tradient platform users      147% from the first quarter of 2007 to 2008 along with an increase in trades      executed on the Tradient platforms by 375% from first quarter of 2007 to      2008. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Repurchased 476,500 shares under the common      stock buy-back program during the first quarter of 2008 for approximately      $630,000 reducing outstanding shares to 26.05 million.                                 |
| • | Revenue per employee of approximately $132,000      based on 83 full-time employees at March 31, 2008 compared to $129,000 based      on 92 full-time employees at March 31, 2007.                                     |
| • | Declared all accumulated dividends payable      on all series of preferred stock to holders of record on February 27, 2008.      The amount paid in arrears was $38,787.                                               |
| • | Implemented clearing system upgrade which significantly      increases processing trade capacity.                                                                                                                      |
| • | Net income for first quarter of 2008 included      non-cash related expenses totaling $600,047, which include:                                                                                                         |

|   | • | Depreciation expense on property and equipment      of $99,119 |
|--------|--------|----------------------------------------------------------------|
|   | • | Amortization expense on capitalized software      of $120,017  |
|   | • | Amortization expense on intangible assets of      $338,427     |
|   | • | Stock-based compensation of $42,484                            |

----

----

----

----

|   |   |   |
|--------|--------|--------|
|   | Period |        | Total number         of shares         purchased |  | Average price         paid per share |  | Total number        of shares         purchased as         part of publicly         announced plan |  | Approximate         dollar value of         shares that may         yet be purchased         under the plan |   |
|   | March  |   | 476,500 |  | 1.32 |  | 1,148,794 |   | $ | 3,330,192 |   |
|   |   |   |

| Exhibit 31.1 | Certification of Chief Executive Officer Pursuant      to Rule 13a-14(a) or Rule 15d-14(a)                                                                                                                                        |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Exhibit 31.2 | Certification of Chief Financial Officer Pursuant      to Rule 13a-14(a) or Rule 15d-14(a)                                                                                                                                        |
| Exhibit 32.1 | Certification of Chief Executive Officer and      Chief Financial Officer Pursuant to Rule 13a-14(b) or Rule 15d-14(b) and      18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley      Act of 2002 |
|         |                                                                                                                                                                                                                              |

----

|   | May 15, 2008 | /s/ Michael G. Nolan    |
|--------|--------------|-------------------------|
|   | Date         | Michael G. Nolan        |
|   |         | Chief Executive Officer |
|   |         |                    |
|   |         |                    |
|   | May 15, 2008 | /s/ Murrey Wanstrath    |
|   | Date         | Murrey Wanstrath        |
|   |         | Chief Financial Officer |
|   |         |                    |
|   |         |                    |

----