UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C.  20549





Form
      10-QSB





(Mark
      One)





[X]
                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                EXCHANGE ACT OF 1934





For
      the
      quarter ended September 30, 2007





[   ]
                TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                EXCHANGE ACT OF 1934





For
      the
      transition period from ______ to __________








Commission
      File Number:  000-30011





247MGI,
      INC.


(Exact
      name of small business issuer as specified in charter)





FLORIDA
            65-0309540(State
                or other jurisdiction of
              incorporation
                or organization)
            (I.R.S.
                Employer I.D. No.)





1007
      N.
      Federal Highway, Suite D-6


Fort
      Lauderdale, Florida  33304


(Address
      of principal executive offices





(954)
      323-2516


(Issuer's
      telephone number, including area code)





N/A


(Former
      name or former address, if changed since last report)





Check
      whether the Issuer (1) has filed all reports required to be filed by section
      13
      or 15(d) of the Exchange Act during the past 12 months (or for such shorter
      period that the registrant was required to file such reports), and (2) has
      been
      subject to such filing requirements for the past 90
      days.  Yes [X] No [ ]





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act).    Yes [ ] No [X]





State
      the
      number of shares outstanding of each of the issuer’s classes of common equity,
      as of the latest practicable date: 35,272,614 shares at November 5,
      2007





Transitional
      Small Business Disclosure Format (Check one): Yes [ ] No [x]








247MGI,
      INC. AND SUBSIDIARIES


FORM
      10-QSB


QUARTERLY
      PERIOD ENDED SEPTEMBER 30, 2007





INDEX


**PART
                I - FINANCIAL INFORMATION**
            PageItem
                1.  Consolidated Financial Statements
                (Unaudited)Consolidated
                Balance Sheets as of September 30, 2007 (unaudited) and December
                31,
                2006
            F-3Consolidated
                Statements of Operations (Unaudited)for the three and nine months
                ended
                September 30, 2007 and 2006
            F-4Consolidated
                Statements of Stockholders' Equity (Deficit) (Unaudited) at September
                30,
                2007
            F-6Consolidated
                Statements of Cash Flows (Unaudited) for the nine months ended September
                30, 2007 and 2006
            F-8Notes
                to Consolidated Financial Statements
            F-10Item
                2. Management's Discussion and Analysis or Plan of
                Operation
            18Item
                3. Controls and Procedures
            22**PART
                II - OTHER INFORMATION**Item
                1.   Legal Proceedings
            22Item
                5.   Other Information
            23Item
                6.   Exhibits
            23SIGNATURES
            24





**CERTAIN
      CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
      INFORMATION**





Certain
      statements in this quarterly report on Form 10-QSB contain or may contain
      forward-looking statements that are subject to known and unknown risks,
      uncertainties and other factors which may cause actual results, performance
      or
      achievements to be materially different from any future results, performance
      or
      achievements expressed or implied by such forward-looking statements. These
      forward-looking statements were based on various factors and were derived
      utilizing numerous assumptions and other factors that could cause our actual
      results to differ materially from those in the forward-looking statements.
      These
      factors include, but are not limited to, our ability to implement our current
      business model and/or consummate an acquisition of an operating entity, our
      ability to generate revenues and pay our operating expenses, our ability to
      raise capital as necessary, economic, political and market conditions and
      fluctuations, government and industry regulation, interest rate risk, U.S.
      and
      global competition, and other factors. Most of these factors are difficult
      to
      predict accurately and are generally beyond our control. You should consider
      the
      areas of risk described in connection with any forward-looking statements that
      may be made herein. Readers are cautioned not to place undue reliance on these
      forward-looking statements, which speak only as of the date of this report.
      Readers should carefully review this report in its entirety, including but
      not
      limited to our financial statements and the notes thereto. Except for our
      ongoing obligations to disclose material information under the Federal
      securities laws, we undertake no obligation to release publicly any revisions
      to
      any forward-looking statements, to report events or to report the occurrence
      of
      unanticipated events.





Unless
      otherwise indicated, the terms





•
            "247MGI,"
                the "Company," "we," "our," and "us" refers to 247MGI, Inc. a Florida
                corporation formerly known as Total Identity Corporation, and our
                subsidiaries,•
            "Total
                Identity Systems" refers to Total Identity Systems, Inc., a New York
                corporation,


•
            "Total
                Digital Communications" refers to Total Digital Communications,
                Inc., a Florida corporation formerly known as Total Digital Displays,
                Inc.,•
            "Yard
                Sale Drop Off" refers to Yard Sale Drop Off, Inc., a Florida corporation
                formerly known as Total Identity Group, Inc.,
                and


•
            "Sovereign
                Research" refers to our wholly owned subsidiary Sovereign Research,
                LLC, a
                Florida limited liability company.





All
      share
      and per share information contained herein gives effect to the one for 100
      (1:100) reverse stock split of our outstanding common stock effective December
      20, 2006.





2


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Balance Sheets





ASSETS





September
                30,
            
            
            December
                31,2007
            
            
            2006(Unaudited)CURRENT
                ASSETSCash
            
            $
            675
            
            
            $
            352Prepaid
                expenses
            
            
            646
            
            
            
            646Total
                Current Assets
            
            
            1,321
            
            
            
            998FIXED
                ASSETS
            
            
            54,106
            
            
            
            -TOTAL
                ASSETS
            
            $
            55,427
            
            
            $
            998





LIABILITIES
      AND STOCKHOLDERS’ EQUITY (DEFICIT)





CURRENT
                LIABILITIESAccounts
                payable
            
            $
            160,097
            
            
            $
            197,638Accounts
                payable– related party (Note 4)
            
            
            60,624
            
            
            
            33,799Accrued
                expenses
            
            
            225,669
            
            
            
            76,099Convertible
                debenture
            
            
            125,000
            
            
            
            125,000Notes
                payable
            
            
            25,000
            
            
            
            120,265Notes
                payable– related party (Note 4)
            
            
            40,453
            
            
            
            339,188Total
                Current Liabilities
            
            
            636,843
            
            
            
            891,989TOTAL
                LIABILITIES
            
            
            636,843
            
            
            
            891,989STOCKHOLDERS’
                EQUITY (DEFICIT)Preferred
                stock, Series “AA” $0.01 par value,5,000,000
                shares authorized; 0 and 1,637 sharesissued
                and outstanding, respectively
            
            
            -
            
            
            
            16Common
                stock, $0.01 par value, 500,000,000 shares
              authorized,
                35,272,614 and274,086 shares issuedand
                outstanding, respectively
            
            
            352,726
            
            
            
            2,741Additional
                paid-in capital
            
            
            10,808,139
            
            
            
            10,460,426Accumulated
                deficit
            
            
            (11,742,281
            )
            
            
            (11,354,174
            )Total
                Stockholders’ Equity (Deficit)
            
            
            (581,416
            )
            
            
            (890,991
            )TOTAL
                LIABILITIES AND STOCKHOLDERS’EQUITY
                (DEFICIT)
            
            $
            55,427
            
            
            $
            998


The
          accompanying notes are an integral part of these consolidated financial
          statements.
 F-3


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Statements of Operations


(Unaudited)





For
                the Three Months Ended
            
            
            For
                the Nine Months EndedSeptember
                30,
            
            
            September
                30,2007
            
            
            2006
            
            
            2007
            
            
            2006REVENUE
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -COST
                OF SALES
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -GROSS
                MARGIN
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -EXPENSESSalaries
                and wages
            
            
            64,794
            
            
            
            47,000
            
            
            
            318,033
            
            
            
            145,000Selling,
                general andadministrative
            
            
            26,617
            
            
            
            46,546
            
            
            
            52,545
            
            
            
            79,559Total
                Expenses
            
            
            91,411
            
            
            
            93,546
            
            
            
            370,578
            
            
            
            224,559LOSS
                FROMOPERATIONS
            
            
            (91,411
            )
            
            
            (93,546
            )
            
            
            (370,578
            )
            
            
            (224,559
            )OTHER
                INCOME (EXPENSE)Interest
                expense
            
            
            (5,747
            )
            
            
            (5,969
            )
            
            
            (17,529
            )
            
            
            (38,971
            )Other
                income
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            28Total
                Other Income(Expense)
            
            
            (5,747
            )
            
            
            (5,969
            )
            
            
            (17,529
            )
            
            
            (38,943
            )LOSS
                BEFOREDISCONTINUEDOPERATIONS
            
            
            (97,158
            )
            
            
            (99,515
            )
            
            
            (388,107
            )
            
            
            (263,502
            )LOSS
                ONDISCONTINUEDOPERATIONS(Note
                3)
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            (18,305
            )NET
                LOSS$
            
            $
            (97,158
            )
            
            $
            (99,515
            )
            
            $
            (388,107
            )
            
            $
            (281,807
            )




The
            accompanying notes are an integral part of these consolidated financial
            statements.
 F-4


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Statements of Operations (Continued)


(Unaudited)





For
                the Three Months Ended
            
            
            For
                the Nine Months EndedSeptember
                30,
            
            
            September
                30,2007
            
            
            2006
            
            
            2007
            
            
            2006BASIC
                LOSS PER SHARELoss
                per share beforediscontinuedoperations
            
            $
            (0.00
            )
            
            $
            (0.00
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )Loss
                per share ondiscontinuedoperations
            
            
            (0.00
            )
            
            
            (0.00
            )
            
            
            (0.00
            )
            
            
            (0.00
            )NET
                LOSS PERSHARE
            
            $
            (0.00
            )
            
            $
            (0.00
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )WEIGHTED
                AVERAGENUMBER
                OF SHARESOUTSTANDING
            
            
            32,784,260
            
            
            
            27,392,506
            
            
            
            27,258,396
            
            
            
            23,364,301





The
            accompanying notes are an integral part of these consolidated financial
            statements.
 F-5


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Statements of Stockholders’ Equity (Deficit)


AdditionalPreferred
                  Stock
              
              
              Common
                  Stock
              
              
              Paid-in
              
              
              AccumulatedShares
              
              
              Amount
              
              
              Shares
              
              
              Amount
              
              
              Capital
              
              
              DeficitBalance,
                  December 31, 2005
              
              
              
              -
              
              
              $
              -
              
              
              
              179,925
              
              
              $
              1,799
              
              
              $
              10,027,962
              
              
              $
              (10,761,697
              )Common
                  stock issued forrelated
                  party debt
              
              
              
              -
              
              
              
              -
              
              
              
              40,000
              
              
              
              400
              
              
              
              39,600
              
              
              
              -Common
                  stock issued for relatedparty
                  debt penalty
              
              
              
              -
              
              
              
              -
              
              
              
              15,000
              
              
              
              150
              
              
              
              14,850
              
              
              
              -Common
                  stock issued forrelated
                  party debt
              
              
              
              -
              
              
              
              -
              
              
              
              30,000
              
              
              
              300
              
              
              
              29,700
              
              
              
              -Common
                  stock issued fordebt
                  inducement
              
              
              
              -
              
              
              
              -
              
              
              
              9,000
              
              
              
              90
              
              
              
              8,910
              
              
              
              -Stock
                  options issued forsalary
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              12,000
              
              
              
              -Preferred
                  stock issued for relatedparty
                  debt
              
              
              
              781
              
              
              
              8
              
              
              
              -
              
              
              
              -
              
              
              
              78,063
              
              
              
              -Preferred
                  stock issued for relatedparty
                  debt
              
              
              
              856
              
              
              
              8
              
              
              
              -
              
              
              
              -
              
              
              
              85,631
              
              
              
              -Reverse
                  stock split adjustment
              
              
              
              -
              
              
              
              -
              
              
              
              161
              
              
              
              2
              
              
              
              (1
              )
              
              
              -Beneficial
                  conversion feature onconvertible
                  preferred stock
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              163,711
              
              
              
              (163,711
              )Consolidated
                  net loss forthe
                  year ended December31,
                2006
              
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              (428,766
              )Balance,
                  December 31, 2006
              
              
              
              1,637
              
              
              
              16
              
              
              
              274,086
              
              
              
              2,741
              
              
              
              10,460,426
              
              
              
              (11,354,174
              )Reverse
                  stock split adjustment
              
              
              
              -
              
              
              
              -
              
              
              
              (15
              )
              
              
              -
              
              
              
              -
              
              
              
              -Common
                  stock issued for conversionof
                  preferred stock into common(unaudited)
              
              
              
              (1,637
              )
              
              
              (16
              )
              
              
              16,370,000
              
              
              
              163,700
              
              
              
              (163,684
              )
              
              
              -Common
                  stock issued for conversionof
                  a note payable to a related party(unaudited)
              
              
              
              -
              
              
              
              -
              
              
              
              7,000,000
              
              
              
              70,000
              
              
              
              280,000
              
              
              
              -Common
                  stock issued for conversionof
                  two notes payable (unaudited)
              
              
              
              -
              
              
              
              -
              
              
              
              1,200,000
              
              
              
              12,000
              
              
              
              56,906
              
              
              
              -Common
                  stock issued for conversionof
                  accounts payable (unaudited)
              
              
              
              -
              
              
              
              -
              
              
              
              7,928,543
              
              
              
              79,285
              
              
              
              2,352
              
              
              
              -Common
                  stock issued for assets of related party (unaudited)
              
              
              
              -
              
              
              
              -
              
              
              
              2,500,000
              
              
              
              25,000
              
              
              
              29,106
              
              
              
              -Stock
                  options issued for salary (unaudited)
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              143,033
              
              
              
              -Balance
                  Forward
              
              
              
              -
              
              
              $
              -
              
              
              
              35,272,614
              
              
              $
              352,726
              
              
              $
              10,808,139
              
              
              $
              (11,354,174
              )
 The
            accompanying notes are an integral part of these consolidated
            financial statements.
 F-6


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Statements of Stockholders’ Equity (Deficit)





AdditionalPreferred
                Stock
            
            
            Common
                Stock
            
            
            Paid-in
            
            
            AccumulatedShares
            
            
            Amount
            
            
            Shares
            
            
            Amount
            
            
            Capital
            
            
            DeficitBalance
                Forward
            
            
            -
            
            
            $
            -
            
            
            
            35,272,614
            
            
            $
            352,726
            
            
            $
            10,808,139
            
            
            $
            (11,354,174
            )Consolidated
                net loss forthe
                nine months ended September30,
                2007 (unaudited)
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            (388,107
            )Balance,
                September 30, 2007(unaudited)
            
            
            -
            
            
            $
            -
            
            
            
            35,272,614
            
            
            $
            352,726
            
            
            $
            10,808,139
            
            
            $
            (11,742,281
            )


The
          accompanying notes are an integral part of these consolidated
          financial statements.
 F-7





**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Statements of Cash Flows


(Unaudited)





For
                the Nine Months EndedSeptember
                30,2007
            
            
            2006CASH
                FLOWS FROM OPERATING ACTIVITIESNet
                loss after discontinued operations
            
            $
            (388,107
            )
            
            $
            (281,807
            )Less:
                loss from discontinued operations
            
            
            -
            
            
            
            18,305Net
                loss before discontinued operations
            
            
            (388,107
            )
            
            
            (263,502
            )Adjustments
                to reconcile net loss to netcash
                used by operating activities:Stock
                issued for services, salary and interest
            
            
            -
            
            
            
            24,000Stock
                options issued for salary
            
            
            143,033
            
            
            
            10,000Changes
                in assets and liabilities:Increase
                in accounts payable andaccounts
                payable – related parties
            
            
            24,096
            
            
            
            52,134Increase
                in accrued expenses
            
            
            191,809
            
            
            
            131,471Net
                Cash (Used) by Operating Activities
            
            
            (29,169
            )
            
            
            (45,897
            )Net
                Cash (Used) by Discontinued Operations
            
            
            -
            
            
            
            (13,873
            )Total
                Net Cash (Used) by Operating Activities
            
            
            (29,169
            )
            
            
            (59,770
            )CASH
                FLOWS FROM INVESTING ACTIVITIES
            
            
            -
            
            
            
            -CASH
                FLOWS FROM FINANCING ACTIVITIESPayment
                on bank overdraft
            
            
            -
            
            
            
            (143
            )Proceeds
                from notes payable
            
            
            -
            
            
            
            65,000Payment
                on notes payable
            
            
            -
            
            
            
            (5,000
            )Proceeds
                from related party notes
            
            
            30,372
            
            
            
            -Payments
                on related party notes
            
            
            (880
            )
            
            
            -Net
                Cash Provided by Financing Activities
            
            
            29,492
            
            
            
            59,857INCREASE
                IN CASH
            
            
            323
            
            
            
            87CASH
                AT BEGINNING OF PERIOD
            
            
            352
            
            
            
            -CASH
                AT END OF PERIOD
            
            $
            675
            
            
            $
            87


The
          accompanying notes are an integral part of these consolidated
          financial statements.
 F-8


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Consolidated
      Statements of Cash Flows


(Unaudited)





For
                the Nine Months EndedSeptember
                30,2007
            
            
            2006SUPPLEMENTAL
                DISCLOSURES OFCASH
                FLOW INFORMATION:CASH
                PAID FOR:Interest
            
            $
            -
            
            
            $
            -Income
                taxes
            
            $
            -
            
            
            $
            -SCHEDULE
                OF NON-CASH FINANCINGACTIVITIES:Stock
                issued for services, salary and interest
            
            $
            -
            
            
            $
            24,000Stock
                options issued for salary
            
            $
            143,033
            
            
            $
            10,000Stock
                issued for debt
            
            $
            500,543
            
            
            $
            70,000Stock
                issued for wages payable
            
            $
            33,333
            
            
            $
            -Stock
                issued for media assets
            
            $
            54,106
            
            
            $
            -


The
          accompanying notes are an integral part of these consolidated
          financial statements.
 F-9


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                1
            BASIS
                OF FINANCIAL STATEMENT PRESENTATION





The
      condensed financial statements presented are those of 247 MGI, INC., (fka Total
      Identity Corporation and Subsidiaries) (the “Company“). The accompanying
      unaudited condensed financial statements have been prepared by the Company
      pursuant to the rules and regulations of the Securities and Exchange Commission.
      Certain information and footnote disclosures normally included in financial
      statements prepared in accordance with accounting principles generally accepted
      in the United States of America have been condensed or omitted in accordance
      with such rules and regulations. The information furnished in the interim
      condensed financial statements includes normal recurring adjustments and
      reflects all adjustments, which, in the opinion of management, are necessary
      for
      a fair presentation of such financial statements. Although management believes
      the disclosures and information presented are adequate to make the information
      not misleading, it is suggested that these interim condensed financial
      statements be read in conjunction with the Company’s most recent audited
      financial statements. Operating results for the nine months ended September
      30,
      2007 are not necessarily indicative of the results that may be expected for
      the
      year ending December 31, 2007.  All share and per share information
      contained herein gives effect to the one for 100 (1:100) reverse stock split
      of
      our outstanding common stock effective December 20, 2006.





NOTE
                2
            COMMITMENTS
                AND CONTINGENCIES





Litigation





During
      February 2005, a lawsuit was commenced in the Supreme Court of the State of
      New
      York, County of Monroe, under the caption Stephen E. Webster v. Richard
      Dwyer, Matthew P. Dwyer, Phillip Mistretta, Total Digital Displays, Inc., Leslie
      W. Kernan, Jr., Lacy Katzen LLP, et al.  The plaintiff, Stephen E.
      Webster, previously purchased a $125,000 debenture from Total Identity
      Corporation and is seeking payment of the convertible debenture by alleging
      that
      he was fraudulently induced to purchase the debenture.  The Company
      has filed various motions in its defense and in September 2005 a judgment was
      grant against the Company and other parties for $125,000 plus 9% interest per
      annum.  In February of 2006 the judgment was vacated.  In
      March of 2006 the Company’s attorneys filed a motion to withdraw as counsel,
      which was granted.  On August 2, 2006 the Supreme Court granted a
      judgment against the Company for $125,000 and post judgment interest at
      9%.  The judgment is recorded as a current liability as of September
      30, 2007.





On
      May 4,
      2004 a judgment was granted against the Company in a lawsuit filed in the
      Superior Court for Orange County, California.  The suit sought
      collection of legal fees and costs totaling $61,637 including accrued interest
      at the rate of 10% per annum, attorney’s fees and court costs.  The
      judgment, which has been recorded as a liability in accounts payable, was
      converted into common stock of the Company during February 2007 (see Note
      5).





On
      September 28, 2006, the Company was served with a summons filed in Supreme
      Court
      in New York.  The suit relates to the purchase agreements signed in
      October of 2003 and February of 2004 concerning Total Identity Systems, Inc.
       During January 2007 our motion to compel arbitration and stay the lawsuit
      was granted pending the outcome of the arbitration.  During February
      2007, the plaintiff appealed the decision and we are awaiting the outcome of
      the
      appeal.








F-10


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                2
            COMMITMENTS
                AND CONTINGENCIES (CONTINUED)





Litigation
      (Continued)





On
      or
      about September 17, 2007, we accepted service of process by stipulation in
      a
      lawsuit commenced under the caption Dr. Martin Peskin, Plaintiff v. Matthew
      P. Dwyer, 247MGI, Inc., a Florida corporation f/n/a Total Identity Corp.;
      Fantastic Fun, Inc. f/k/a 247 Media Group, Inc.; and YSDO. Inc. a Florida
      corporation.  Dr. Peskin is a former officer and director of the
      Company and has asserted allegations arising out of loans and investments made
      by Dr. Peskin in the Company and other companies currently or formerly
      affiliated with Mr. Dwyer, our Chief Executive Officer.  The complaint
      purports to set forth claims for violation of Florida securities statutes,
      fraud
      in the inducement, civil theft and unjust enrichment, and includes a reservation
      of the right to seek punitive damages.  The Company believes that any
      amount owed to Dr. Peskin does not exceed $25,187, in part based on information
      previously supplied by Dr. Peskin, and the Company disputes the merits of Dr.
      Peskin’s claims. The Company also believes that the complaint is deficient
      in various respects, and, without answering the complaint, has filed a motion
      to
      dismiss the complaint on these and other grounds.  At this stage, we
      are unable to predict the likelihood of a favorable outcome to this
      proceeding.





Threatened
      Suits




We
      understand that Mr. John Loughlin is seeking to commence a lawsuit in
      Superior Court of the State of Rhode Island, County of Providence, under the
      caption *John J. Loughlin II Plaintiff, vs. 247MGI, Inc. a/k/a Total
      Identity Corp, Defendants**.*We also understand that Mr. John
      Loughlin, who served as our President from March 16, 2007 until May 4,
      2007, is seeking a judgment for $750,000 in compensatory damages and
      $250,000 in punitive damages, plus interest, costs and attorneys fees. We do
      not
      believe that service has been properly effected on us.  We have engaged
      counsel to defend this matter but at this stage of the proceedings, no
      assessment may be made as the likelihood of a favorable outcome.








F-11


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                3
            SALES
                AGREEMENTS





Sale
      of Yard Sale Drop Off





During
      March 2006, the Company entered into an agreement to sell all of the assets
      of
      its wholly-owned subsidiary YSDO to an individual for $8,000 in cash and
      discontinue its operations. Payment was received in four installments of $2,000
      a piece, the last payment being in May 2006, when the Company released all
      assets to the purchaser.  Upon close of the sale, the Company
      recognized a loss on sale of assets of $4,845.





All
      operating results of YSDO are included in discontinued operations as of June
      30,
      2006.  No tax benefit has been attributed to discontinued
      operations.  The following is an unaudited summary of the loss from
      discontinued operations resulting from the disposal of YSDO:





For
                the Nine Months EndedSeptember
                30,2007
            
            
            2006REVENUE
            
            $
            -
            
            
            $
            -COST
                OF SALES
            
            
            -
            
            
            
            11,744GROSS
                DEFICIT
            
            
            -
            
            
            
            (11,744
            )EXPENSESDepreciation
            
            
            -
            
            
            
            1,226Selling,
                general and administrative
            
            
            -
            
            
            
            490Total
                Expenses
            
            
            -
            
            
            
            (1,716
            )OTHER
                EXPENSELoss
                on sale of assets
            
            
            -
            
            
            
            (4,845
            )LOSS
                FROM DISCONTINUEDOPERATIONS
            
            $
            -
            
            
            $
            (18,305
            )





Sale
      of Total Digital Displays





On
      December 15, 2004, our wholly owned subsidiary Total Digital acquired certain
      assets from an individual, including the seller’s rights under a purported
      license agreement with Major League Baseball. The purchase price for the assets
      was paid by the issuance of 10,000,000 shares of Total Digital’s common stock to
      the seller.  The 10,000,000 shares represented approximately 93% of
      Total Digital’s outstanding common stock at the time of issuance.








F-12


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to
      the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                3
            SALES
                AGREEMENTS (CONTINUED)





Sale
      of Total Digital Displays (Continued)





On
      December 29, 2004, the Company intended to distribute all of the outstanding
      stock of Total Digital Displays to its shareholders of record on December 15,
      2004, as a dividend.  On January 11, 2005, the Company determined that
      the seller of the assets had fraudulently misrepresented the ownership of the
      license from Major League Baseball when, in fact, the seller did not own any
      such license.  As a result, on January 11, 2005, the Company notified
      the seller of claims it had against it and demanded rescission of the asset
      purchase agreement, including its return of the 10,000,000 shares of Total
      Digital.  In August 2005 the court awarded the Company a default
      against the seller for failure to file an answer to the complaint within the
      prescribed timeframe; however, in September 2005 the default was set
      aside.  During 2006 the Company filed suit in Broward County, Florida
      circuit court and was awarded a summary judgment against
      Lightman.  However, due to the additional expense we would incur to
      seek a default judgment and our assessment that we would be unlikely to collect
      upon any judgment we were to be awarded, we have not taken further action in
      this matter.  In September 2007, the case was dismissed for lack of
      prosecution.





In
      light
      of the foregoing, the opinion of counsel that caused the shares of Total Digital
      to be issued without legend has been withdrawn and the shares of Total Digital
      continued to be shown as distributed to the Company’s shareholders as restricted
      securities.





NOTE
                4
            RELATED
                PARTY TRANSACTIONS





Accounts
      and Notes Payable





As
      of
      September 30, 2007, the Company owed two related parties $40,453 for amounts
      loaned to the Company for operating expenses.





As
      of
      September 30, 2007, the Company has accounts payable to current and former
      officers totaling $49,286 and accounts payable to a related party company of
      $11,338.





On
      February 1, 2007, the Company increased its note payable for back due wages
      to
      its Chief Executive and Finance Officer by $33,333, increasing the total balance
      of the note to $347,333.  This amount was then converted to common
      stock of the company in February 2007 (see Note 5).





Employment
      Agreements





On
      January 1, 2007, the Company entered into an employment agreement with an
      individual to act as Chief Executive and Finance Officer of the Company through
      December 31, 2012.  The agreement calls for a salary of: $200,000 per
      year for 2007; $250,000 per year for 2008; $300,000 per year for 2009; $350,000
      per year for 2010; $400,000 per year for 2011; and, $450,000 per year for
      2012.  In addition, a total of 12,000,000 common stock options were
      granted, to be issued at the rate of 500,000 shares per quarter, fully vested
      on
      the first day of the quarter, exercisable for five years at a price of $0.07
      per
      share. The Company recognized $150,000 in compensation expense related to salary
      and $83,831 related to the issuance of options during the nine months ended
      September 30, 2007.  In August 2007, we and Mr. Dwyer verbally agreed to
      enter into a written amendment to the employment agreement to provide that,
      effective August 1, 2007, in lieu of the future quarterly vesting of options
      under the agreement, five-year options would be granted to Mr. Dwyer on a
      quarterly basis, on the first day of each quarter during the term of the
      agreement, with such options being exercisable at fair market value on the
      date
      of grant.





F-13





**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                4
            RELATED
                PARTY TRANSACTIONS (CONTINUED)





On
      March
      16, 2007, the Company appointed John Loughlin as President and entered into
      a
      two year employment agreement with Mr. Loughlin.  The employment
      agreement provided for the payment of $150,000 for the first year and $180,000
      for the second year as well as the grant of options to purchase 250,000 shares
      of the Company’s common stock immediately upon signing and 250,000 each quarter
      on the first day of the quarter, for a total of 2,000,000
      options.  The options were to vest immediately, are were exercisable
      at $0.24 per share and set to expire in five years.  During May 2007,
      the employment agreement was suspended and the Company agreed to pay Mr.
      Loughlin $25,000 in cash and honor the vesting of 500,000 options under the
      agreement.  We understand Mr. Loughlin is seeking to file a lawsuit
      against the Company seeking damages for wrongful termination of the employment
      agreement. (See Note 2.)





Settlement
      Agreement




On
      May
      13, 2004, the Company and Scott Siegel, a former officer and director, entered
      into an agreement resolving certain disputes that had arisen relating to the
      ownership of 1,050,000 shares of the Company’s common stock and 250,000 shares
      of its Series A preferred stock that were the subject of a stock purchase
      agreement dated February 21, 2003.  As a result of the terms of the
      settlement the Company has recorded a note payable of $35,265.  The
      amount payable to Mr. Siegel is to be paid (a) one-third for each million
      dollars in financing raised by the Company after June 27, 2004 or (b) pro-rata
      to the extent that other officers or directors of the Company receive repayment
      of indebtedness from third-party financing obtained by the Company subsequent
      to
      June 27, 2004.  No amounts were required to be paid during the period
      ended September 30, 2007.




NOTE
      5COMMON STOCK AND EQUITY INSTRUMENTS





Common
      Stock





On
      January 22, 2007, the Company’s Chief Executive and Finance Officer and a
      related party company elected to convert all of the Company’s outstanding 1,637
      shares of Series AA Preferred Stock into 16,370,000 shares of common
      stock.





On
      February 7, 2007, an officer of the Company converted $347,333 in accrued wages
      and $2,667 in payables into 7,000,000 shares of common stock at $0.05 per
      share.





On
      February 7, 2007, an individual converted $68,906 in notes payable and accrued
      interest into 1,200,000 shares of common stock at $0.06 per share.





During
      February 2007, the Company converted $61,637 in accounts payable and accrued
      interest into 5,071,000 shares of common stock at $0.01 per share and waived
      all
      accrued interest.





During
      August 2007, the Company converted $20,000 in related part notes payable into
      2,857,143 shares of common stock at $0.007 per share.





During
      August 2007, the Company issued 2,500,000 shares of common stock to a related
      party company for assets valued at $54,106, or $0.022 per share, which was
      the
      lower of the value of the assets and the market price of the stock on the date
      of issuance.





F-14


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                5
            COMMON
                STOCK AND EQUITY INSTRUMENTS
                (CONTINUED)





Stock
      Options and Warrants





The
      Company estimated the fair value of each stock option or warrant issued during
      the year at the grant date by using the Black-Scholes option pricing model
      based
      on the following assumptions:





Risk
                free interest rates
            
            4.46
                – 4.97%Expected
                lives
            
            5
                yearsExpected
                volatilities
            
            215
                - 217%Dividend
                yields
            
            0.00%





On
      January 1, 2007, the Company granted its Chief Executive and Finance Officer
      500,000 options to purchase common stock at $0.07 per share in accordance with
      an employment agreement.  The Company recognized $24,578 in
      expense.





On
      March
      16, 2007, the Company granted an individual 250,000 options to purchase common
      stock at $0.24 per share in accordance with an employment
      agreement.  The Company recognized $59,201 in expense.





On
      April
      1, 2007, the Company granted its Chief Executive and Finance Officer 500,000
      options to purchase common stock at $0.07 per share in accordance with an
      employment agreement. The Company recognized $44,460 in expense.





On
      July
      1, 2007, the Company granted its Chief Executive and Finance Officer 500,000
      options to purchase common stock at $0.03 per share in accordance with an
      employment agreement. The Company recognized $14,794 in expense.





NOTE
                6
            SIGNIFICANT
                EVENTS





On
      February 1, 2007, the Company entered into an agreement with Drexal Investments,
      Inc. (Drexal), whereby the Company agreed that Drexal could convert certain
      outstanding liabilities of the Company purchased by Drexel into common stock
      of
      the Company.





On
      February 15, 2007, the Company amended its agreement with Drexal to provide
      for
      the delivery of 2,671,400 shares of common stock for converting $26,714 of
      $50,714 of outstanding debt of the Company that was acquired by Drexal, and
      an
      additional 2,400,000 shares upon conversion of an additional $24,000 in Company
      debt to be acquired by Drexel. In connection with the agreement, Drexel agreed
      to forgive $13,467 in expenses and accrued interest on the acquired
      debt.  All of the 5,071,000 shares of common stock have since been
      issued in satisfaction of the debt.





On
      March
      16, 2007, Matt Dwyer resigned as President of the Company, but remained as
      chairman of the board of directors and chief executive officer until May 5,
      2007, at which time Mr. Dwyer reassumed the duties of President.





F-15


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                6
            SIGNIFICANT
                EVENTS (CONTINUED)








On
      August
      15, 2007, the Company issued 1,071,429 shares of common stock for conversion
      of
      $7,500 of a note payable to a related party under the above referenced agreement
      with Drexal.





On
      August
      30, 2007, the Company issued 1,785,714 shares of common stock for conversion
      of
      $12,500 of a note payable to a related party under the above referenced
      agreement with Drexal.





On
      August
      31, 2007, the Company entered into an Asset Purchase Agreement with 247 Media
      Holdings, LLC, a limited liability company owned and controlled by Matthew
      P.
      Dwyer, our president and chief executive officer (“Media
      Holdings”).  The assets, which had previously been acquired by Media
      Holdings, included the following:





§
            an
                under construction studio for the production and transmission of
                IPTV and
                IPRadio, including studio and other equipment necessary for IPRadio
                broadcasts;


§
            rights
                under various contracts and assets related to Digicard, including
                a
                finished demo in English and Spanish, of a custom personalized DVD
                birthday greeting card;


§
            A
                proprietary, custom-designed “Hybrid Player” designed as a media player
                for Internet playback, with features that allow audience
                participation;


§
            Domain
                names;


§
            Office
                equipment; and


§
            Proprietary
                and generic software.





We
      issued
      2,500,000 shares of our common stock to Media Holdings as consideration for
      the
      assets we acquired.  The assets were valued at $54,106, lower of the
      value of the assets and the market price of the stock on the date of
      issuance.





On
      September 10, 2007, the Company entered into a Securities Purchase Agreement
      with Norman Farrar and PurFusion Group of Companies, Inc. and its subsidiaries
      under which it agreed to purchase all of the issued and outstanding capital
      stock of Profusion Group.  The consummation of this transaction is
      subject to conditions precedent including receipt of the necessary information
      to complete an audit of PurFusion Group.  As of the date of this
      report, the Company has not received information from PurFusion that would
      allow
      an audit of PurFusion to be completed.  Accordingly, at this time
      management is unable to predict whether the proposed acquisition of PurFusion
      Group will be consummated.





On
      September 12, 2007 the Company entered into a Letter of Intent with Ross
      McCullough to negotiate and enter into a Technology Assignment and Transfer
      Agreement relating to technology intended to be used in connection with the
      Company’s recently acquired assets for streaming IPTV and IPRadio
      broadcasts.    Among the obligations to be included in the
      proposed agreement with McCullough will be an obligation to secure approximately
      $1,500,000 for the development and exploitation of the technology to be
      acquired.


F-16


**247MGI,
      INC. AND SUBSIDIARIES**


**(FKA
      TOTAL IDENTITY CORPORATION AND SUBSIDIARIES)**


Notes
      to the Consolidated Financial Statements


September
      30, 2007 and December 31, 2006





NOTE
                7
            GOING
                CONCERN





The
      Company's consolidated financial statements are prepared using Generally
      Accepted Accounting Principals applicable to a going concern that contemplates
      the realization of assets and liquidation of liabilities in the normal course
      of
      business.  However, the Company does not have significant cash or
      other material assets, nor does it have an established source of revenues
      sufficient to cover its operating costs.  Additionally, the Company
      has accumulated significant losses, has negative working capital, and a deficit
      in stockholders' equity.  All of these items raise substantial doubt
      about its ability to continue as a going concern.  Management's plans
      with respect to alleviating the adverse financial conditions that caused
      shareholders to express substantial doubt about the Company's ability to
      continue as a going concern are as follows:





As
      described elsewhere in this report, the Company recently acquired assets and
      has
      commenced limited operations utilizing those assets, and plans to use and expand
      upon those assets to generate revenue for the Company.  The Company
      needs to raise $500,000 to successfully implement its business model, plus
      an
      additional $1,500,000 in the event we complete our acquisition of PurFusion
      Group; and the Company will also need to raise additional capital through equity
      or debt financing to fund its ongoing business model and meet its
      obligations.  When additional funds are raised through the issuance of
      equity securities, the percentage ownership of the Company's then-current
      stockholders would be diluted.





If
      additional funds are raised through the issuance of debt securities, the Company
      will incur interest charges until the related debt is paid off.





There
      can
      be no assurance that the Company will be able to raise any required capital
      necessary to achieve its current operating plan.




The
      ability of the Company to continue as a going concern is dependent upon its
      ability to successfully accomplish the plan described in the preceding paragraph
      and eventually attain profitable operations. The accompanying consolidated
      financial statements do not include any adjustments that might be necessary
      if
      the Company is unable to continue as a going concern.





F-17


**ITEM
      2.            MANAGEMENT'S
      DISCUSSION AND ANALYSIS OR PLAN OF OPERATION**





***Overview***





The
      following analysis of our results of operations and financial condition should
      be read in conjunction with the accompanying consolidated financial statements
      for the nine months ended September 30, 2007 and notes thereto appearing
      elsewhere in this quarterly report.





As
      previously disclosed in our Annual Report, we have encountered difficulties
      in
      identifying assets and/or businesses to acquire in large part due to third
      party
      reluctance to combine with us due to our existing liabilities, actual and
      contingent, and our history of actual and threatened lawsuits.  As a
      result, we embarked on a strategy to seek revenue-producing activities by
      acquiring under-managed, under utilized and/or fragmented assets and business
      concepts, assembling complementary assets and businesses and seeking to grow
      them internally into profitable business operations.  Our strategy
      envisions a one-stop Internet media and advertising company that will assist
      publicly and privately-held clients by offering a wide variety of services,
      including:





•
            Production
                and Transmission of Internet Protocol TV (IPTV);•
            Production
                and Transmission of Internet Protocol Radio
                (IPRadio);


•
            Infomercial
                production;•
            Providing
                website design and hosting services and e-commerce
                solutions;


•
            Marketing
                personalized DVD birthday and greeting
                cards;


•
            EDGAR
                filings services;


•
            Press
                release composition and dissemination; and•
            Producing
                TV and radio shows for third
                parties.





As
      the
      first major step we have taken to implement our strategy, on August 31, 2007,
      we
      purchased certain assets pursuant to the terms of an Asset Purchase Agreement
      with 247 Media Holdings, LLC, a limited liability company owned and controlled
      by Matthew P. Dwyer, our president and chief executive officer (“Media
      Holdings”).  The assets, which had previously been acquired by Media
      Holdings, included the following:





·
            an
                under construction studio for the production and transmission of
                IPTV and
                IPRadio, including studio and other equipment necessary for IPRadio
                broadcasts;·
            rights
                under various contracts and assets related to Digicard, including
                a
                finished demo in English and Spanish, of a custom personalized DVD
                birthday greeting card;


·
            A
                proprietary, custom-designed “Hybrid Player” designed as a media player
                for Internet playback, with features that allow audience
                participation;·
            Domain
                names;


·
            Office
                equipment; and·
            Proprietary
                and generic software.





For
      the
      reasons discussed above, prior to our acquisition of these assets we were a
      "shell company" within the meaning of Rule 12b-2 of the Securities Exchange
      Act
      of 1934.  Following consummation of the asset purchase agreement with
      Media Holdings we ceased being a shell company because we now have more than
      nominal assets.  The purchased assets are unrelated and individually
      insignificant assets that were not used in connection with a prior operating
      business.  Inasmuch as the assets were acquired from a related party,
      the acquisition did not result in a change in control or management of the
      Company.   We believe that our acquisition of these assets will
      permit us to generate revenues in furtherance of our business
      model.





The
      assets we have acquired are expected to facilitate the development of our
      business.  IPTV and IPRadio are systems that deliver digital
      television and radio services by using Internet Protocol over a network
      infrastructure, which may include delivery by a broadband
      connection.  These systems provide television and radio content that,
      instead of being delivered through traditional broadcast and cable formats,
      is
      received by the viewer through technologies used for computer
      networks.  During November 2007, we commenced broadcasting our initial
      IPRadio programming under the name Smallcap Rapp a LIVE interactive one hour
      broadcast featuring a new company each week for the first 30 to 40 minutes
      then
      open discussion on whatever the audience wishes to discuss.  To date,
      we have broadcast two shows; the inaugural show aired on October 26, 2007,
      featured 247MGI and explained to the open format of the broadcast to the
      audience.  During the initial Broadcast we had audience participants
      from five different countries; during the month of October we had 455 unique
      visitors to our website from 18 countries, and over 10,000 hits to our
      website.  We aired our second show on November 7, 2007 and featured
      our first unaffiliated company, CHDT Corp., for 40 minutes during which we
      had
      visitors from over 5 different countries including the United States Portugal,
      Denmark, Belgium, and Canada.


18


During
      the broadcast the average listening time was 19 minutes, up from 18 minutes
      on
      our initial broadcast, and our “chat module” currently has 45 unique
      members.  Our next broadcast is scheduled for November 28,
      2007.  We expect to continue to use the Internet to deliver high
      quality content more efficiently than our competition.  We also intend
      to create unique programming to include "live" as well as streaming video
      content to be delivered through the web and via
      satellite**.**We also intend to provide financial
      marketing services including press release composition and dissemination, as
      well as EDGAR conversion and filing services.





We
      require approximately $2,000,000 to satisfy our current obligations, fund our
      proposed acquisition of PurFusion Group (see Note 6) and to provide working
      capital for completion of our studio facilities, administrative expenses and
      the
      current development of our operations.  Should the agreement for the
      acquisition of PurFusion Group close, we have also agreed to pay up to $20,000
      for extra taxes which may be imposed on Mr. Farrar.  We do not
      presently have any firm commitments for capital and we cannot assure you the
      necessary capital will be available to us, or if available, upon terms
      acceptable to us.





It
      will
      also be necessary for us to add human resources to produce the television show
      and make provision for back up personnel in case of emergency.  We
      will also require a cohesive business plan incorporating the assets we have
      acquired and intend to acquire, including projected revenues for the next 3
      to 5
      years along with industry research, to begin raising capital.  It is
      anticipated that we will issue equity in our company in order to raise the
      capital which we require.  The issuance of equity, from time to time,
      will cause dilution to our shareholders.  We expect capital-raising to
      commence during the fourth quarter of 2007.





***Results
      of Operations***





***Nine
      months ended September 30, 2007 as compared to the Nine months ended September
      30, 2006***





Nine
                Months Ended
            
            
            Increase/
            
            
            Increase/(Decrease)
            
            
            (Decrease)9/30/2007
            
            
            9/30/2006
            
            
            $
                2007 vs 2006
            
            
            %
                2007 vs 2006Revenue
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -Cost
                of sales
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -Gross
                margin
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -ExpensesSalaries
                and wages
            
            
            318,033
            
            
            
            145,000
            
            
            
            173,033
            
            
            
            119
            %Selling,
                general and administrative
            
            
            52,545
            
            
            
            79,559
            
            
            
            (27,014
            )
            
            
            -34
            %Total
                expenses
            
            
            370,578
            
            
            
            224,559
            
            
            
            146,019
            
            
            
            65
            %Loss
                from operations
            
            
            (370,578
            )
            
            
            (224,559
            )
            
            
            146,019
            
            
            
            65
            %Other
                income (expense)Interest
                expense
            
            
            (17,529
            )
            
            
            (38,971
            )
            
            
            (21,442
            )
            
            
            -55
            %Other
                income
            
            
            -
            
            
            
            28
            
            
            
            (28
            )
            
            
            -100
            %Total
                other income (expense)
            
            
            (17,529
            )
            
            
            (38,943
            )
            
            
            (21,414
            )
            
            
            -55
            %Loss
                before discontinued operations
            
            
            (388,107
            )
            
            
            (263,502
            )
            
            
            124,605
            
            
            
            47
            %Discontinued
                operations
            
            
            -
            
            
            
            (18,305
            )
            
            
            (18,305
            )
            
            
            -100
            %Net
                loss
            
            
            (388,107
            )
            
            
            (281,807
            )
            
            
            106,300
            
            
            
            38
            %


19


**Total
      expenses**





Our
      total
      expenses for the nine months ended September 30, 2007 were $370,578, an increase
      of $146,019, or approximately 65%, from our total expenses of $224,559 for
      the
      six months ended September 30, 2006.  Included in this balance were
      the following:





▪           Salaries
      and wages increased $173,033, or 119%, to $318,033 for the nine months ended
      September 30, 2007 from $145,000 for the nine months ended September 30,
      2006.  This increase is primarily attributable to the difference in
      the value of stock options issues and a higher annual salary related to a new
      employment agreement for our CEO and the issuance of more options and
      recognition accrued wages as a result of a new employment agreement with an
      individual employed to be President, and





▪           Selling,
      general and administrative expense decreased $27,014, or approximately 34%,
      to
      $52,545 for the nine months ended September 30, 2007 from $79,559 for the nine
      months ended September 30, 2006 which reflects our reduced
      operations.





**Total
      other income (expense)**





Overall,
      total other expense decreased $21,414 for the nine months ended September 30,
      2007 from the nine months ended September 30, 2006 as a result of a decrease
      in
      interest expense of $21,442, or approximately 55%, for the nine months ended
      September 30, 2007 from the nine months ended September 30, 2006, which reflects
      the issuance of common stock in lieu of payment of debt interest and penalties
      during the nine months ended September 30, 2006.





**Discontinued
      operations**





We
      reported a loss on discontinued operations for the nine months ended September
      30, 2007 of $0 as compared to a loss of $18,305 for the nine months ended
      September 30, 2006 related to the operations of YSDO.





**Liquidity
      and Capital Resources**





Liquidity
      is the ability of a company to generate funds to support its current and future
      operations, satisfy its obligations and otherwise operate on an ongoing
      basis.  At September 30, 2007, we had $675 cash on hand and a working
      capital deficit of $635,522.





At
      September 30, 2007 we had total assets of $55,427, which consisted of $675
      of
      cash, $646 of prepaid expenses and $54,106 of media assets.  Our total
      liabilities at September 30, 2007 were $636,843, which included $220,721 of
      accounts payable and accounts payable - related party, $225,669 of accrued
      expenses, an aggregate of $190,453 in convertible debentures and notes payable,
      including $40,453 of notes payable - related parties.  We do not have
      sufficient working capital to satisfy these obligations.





Net
      cash used by operating activities
      for the nine months ended September 30, 2007 was $29,169 as compared to net
      cash
      used by operating activities of $45,897 for the nine months ended September
      30,
      2006.  The principal changes in cash used by operating activities from
      period to period which are unrelated to our discontinued operations
      include:




▪
              an
                  increase of $124,605 in our net loss from continuing
                  operations,
 ▪
              the
                  expense related to stock, options and warrants issued for services,
                  salary
                  and interest increased  $109,033 for the nine months ended
                  September 30, 2007 as compared to the nine months ended September
                  30,
                  2006, and
 ▪
              a
                  decrease of $28,038 in the increase in accounts payable and accounts
                  payable - related party.




Net
      cash used
      by investing activities for the nine months ended September 30, 2007 and 2006
      was $0.


20


Net
      cash
      provided by financing activities for the nine months ended September 30, 2007
      was $29,492 as compared to $59,857 for the nine months ended September 30,
      2006.





At
      September 30, 2007, after giving effect to the various conversions of
      liabilities to equity as described in the accompanying financial statements,
      we
      owe approximately $411,174 under payables and notes, as well as approximately
      $179,167 in accrued wages and approximately $46,502 in accrued interest. 
We do not have the cash necessary to satisfy these obligations.  At
      September 30, 2007, we had approximately $675 of cash, a working capital deficit
      of $635,522 and an accumulated deficit of $11,742,281.  The report from our
      independent registered public accounting firm on our audited financial
      statements at December 31, 2006 contains an explanatory paragraph regarding
      doubt as to our ability to continue as a going concern as a result of our losses
      and working capital deficit.





We
      do not
      have sufficient working capital to pay our existing obligations or our operating
      costs for the next 12 months and we will require additional funds to pay our
      legal, accounting and other fees associated with our company and its filing
      obligations under federal securities laws, as well as to pay our other accounts
      payable generated in the ordinary course of our business. As discussed earlier
      in this report, we will also need to raise approximately $2,000,000 in working
      capital in connection with the implementation of our current business model,
      including completion of our pending acquisition of PurFusion Group.  We
      have no commitments from any party to provide such funds to us.  While our
      Chief Executive Officer has historically funded our operating expenses, and
      converted the indebtedness created thereby into equity, there is no assurance
      that our Chief Executive Officer will continue to fund operating expenses. 
If we are unable to obtain additional capital as necessary, we will be unable
      to
      satisfy our obligations and otherwise continue to meet our reporting obligations
      under federal securities laws, and we will likely cease operations.





In
      connection with our annual report for our fiscal year ending December 31, 2007,
      pursuant to Section 404 of the Sarbanes-Oxley Act of 2002, our management will
      be required to provide an assessment of the effectiveness of our internal
      control over financial reporting, including a statement as to whether or not
      internal control over financial reporting is effective. In order to comply
      with
      this requirement we will need to engage a consulting firm to undertake an
      analysis of our internal controls as we do not have the expertise to conduct
      the
      necessary evaluation ourselves. We have not yet engaged such a firm and our
      ability to do so is dependent upon our receipt of additional working
      capital.  We are, therefore, unable to predict when, if ever, we will
      be able to engage a consulting firm to assist our company in preparing the
      required assessment.  If we were unable to include this assessment in
      our annual report, our report would not be considered complete and we would
      not
      be considered current in our filings with the SEC.





***Critical
      Accounting Policies***





Our
      financial statements and accompanying notes are prepared in accordance with
      generally accepted accounting principles in the United
      States.  Preparing financial statements requires management to make
      estimates and assumptions that affect the reported amounts of assets,
      liabilities, revenue and expenses. These estimates and assumptions are affected
      by management's applications of accounting policies. Critical accounting
      policies for our company include the following:





*Fixed
      assets.*  Fixed assets are recorded at cost.  Major
      additions and improvements are capitalized.  Minor replacements,
      maintenance and repairs that do not increase the useful life of the assets
      are
      expensed as incurred.  Depreciation of property and equipment is
      determined on a straight-line basis over the expected useful
      lives.  The cost and related accumulated depreciation of equipment
      retired or sold are removed from the accounts and any differences between the
      undepreciated amount and the proceeds from the sale are recorded as gain or
      loss
      on sale of equipment.  All of our fixed assets were repossessed to pay
      secured debt during November 2004 (see Note 3 of the Notes to Consolidated
      Financial Statements appearing elsewhere in this report.)





*Long-Lived
      Assets*  We adopted Statement of Financial Accounting Standards
      No. 144 (SFAS 144), "Accounting for the Impairment or Disposal of Long-Lived
      Assets".  SFAS 144 develops one accounting model (based on the model
      in SFAS 121) for long-lived assets that are to be disposed of by sale and
      addresses the principal implementation issues. SFAS 144 requires that long-lived
      assets that are to be disposed of by sale be measured at the lower of book
      value
      or fair value less cost to sell. This requirement eliminates the previous
      (APB30) requirement that discontinued operations be measured at net realizable
      value or that entities include under discontinued operations in the financial
      statements amounts for operating losses that have not yet occurred.
      Additionally, SFAS 144 expands the scope of discontinued operations to include
      all components of an entity with operations that (1) can be distinguished from
      the rest of the entity and (2) will be eliminated from the ongoing operations
      of
      the entity in a disposal transaction.





*Stock
      Based Compensation.*  We adhere to the requirements of SFAS No.
      123(R) (SFAS 123(R)) “Share Based Payment” in accounting for the issuance of all
      equity instruments.  SFAS 123(R) generally requires that share based
      payment transactions be accounted for using a fair-value based method with
      the
      resulting cost recognized in the financial statements.


21


***New
      Accounting Standards***





In
      July
      2006, the FASB issued FASB Interpretation No. 48, “Accounting for Uncertainty in
      Income Taxes  – an interpretation of FASB Statement No. 109,
      Accounting for Income Taxes (SFAS No. 109)” (FIN 48)*.* FIN 48 clarifies
      the accounting for uncertainty in income taxes recognized in accordance with
      SFAS No. 109 and prescribes a recognition threshold and measurement attribute
      for the financial statement recognition and measurement of a tax position taken
      or expected to be taken in a return. Guidance is also provided on
      de-recognition, classification, interest and penalties, accounting in interim
      periods, disclosure and transition. FIN 48 is effective for fiscal years
      beginning after December 15, 2006.  The effect of adoption of FIN 48
      is not anticipated to have a material impact on our company.





In
      September 2006, the FASB issued SFAS No. 157, "Fair Value Measurements” (SFAS
      157).  SFAS 157 defines fair value, establishes a framework for
      measuring fair value and expands disclosures about fair value measurements.
      Where applicable, SFAS 157 clarifies and codifies related guidance within other
      generally accepted accounting principles. SFAS 157 is effective for fiscal
      years
      beginning after November 15, 2007.  The effect of adoption of SFAS 157
      is not anticipated to have a material impact on our company.





In
      February 2007, the FASB issued SFAS No. 159, "The Fair Value Option for
      Financial Assets and Financial Liabilities” (SFAS 159).  SFAS 159
      permits entities to measure many financial instruments and certain other items
      at fair value.  The objective is to improve financial reporting by
      providing entities with the opportunity to mitigate volatility in reporting
      earnings caused by measuring related assets and liabilities differently without
      having to apply complex hedge accounting provisions.  SFAS 159 is
      effective as of the first fiscal year beginning after November 15,
      2007.  The effect of adoption of SFAS 159 is not anticipated to have a
      material impact on our company.





**ITEM
                3.**
            **CONTROLS
                AND PROCEDURES**





As
      required by Rule 13a-15 under the Securities Exchange Act of 1934, as of the
      end
      of the period covered by this quarterly report, our management concluded its
      evaluation of the effectiveness of the design and operation of our disclosure
      controls and procedures. Disclosure controls and procedures are controls and
      procedures designed to reasonably assure that information required to be
      disclosed in our reports filed under the Securities Exchange Act of 1934, such
      as this quarterly report, is recorded, processed, summarized and reported within
      the time periods prescribed by SEC rules and regulations, and to reasonably
      assure that such information is accumulated and communicated to our management,
      including our President, to allow timely decisions regarding required
      disclosure.





As
      of the evaluation date, our CEO who
      also serves as our principal financial and accounting officer, concluded that
      we
      do not maintain disclosure controls and procedures that are effective in
      providing reasonable assurance that information required to be disclosed in
      our
      reports under the Securities Exchange Act of 1934 is recorded, processed,
      summarized and reported within the time periods prescribed by SEC rules and
      regulations, and that such information is accumulated and communicated to our
      management to allow timely decisions regarding required
      disclosure.  Our CEO is not a financial or accounting professional,
      and we do not have any other employees, including a chief financial officer,
      comptroller or similarly titled senior financial officer, or any accounting
      personnel sufficiently trained in the application of generally accepted
      accounting principles.  As a result of our limited financial
      resources, we do not anticipate that we will be in a position to engage such
      properly trained professional accounting personnel or a senior financial officer
      in the foreseeable future.  Until we are able to engage a qualified
      financial officer, and/or properly trained accounting staff, we may continue
      to
      experience material weaknesses in our disclosure controls that may result in
      errors in our financial statements in future periods.





There
      have been no changes in our internal control over financial reporting that
      has
      materially affected, or is reasonably likely to materially affect, our internal
      control over financial reporting.





**PART
      II – OTHER INFORMATION**





**Item
                1.**
            **Legal
                Proceedings**




On
      or
      about September 17, 2007, we accepted service of process by stipulation in
      a
      lawsuit commenced under the caption Dr. Martin Peskin, Plaintiff v. Matthew
      P. Dwyer, 247MGI, Inc., a Florida corporation f/n/a Total Identity Corp.;
      Fantastic Fun, Inc. f/k/a 247 Media Group, Inc.; and YSDO. Inc. a Florida
      corporation.  Dr. Peskin is a former officer and director of the
      Company and has asserted allegations arising out of loans and investments made
      by Dr. Peskin in the Company and other companies currently or


22


formerly
      affiliated with Mr. Dwyer, our Chief Executive Officer.  The complaint
      purports to set forth claims for violation of Florida securities statutes,
      fraud
      in the inducement, civil theft and unjust enrichment, and includes a reservation
      of the right to seek punitive damages.  The Company believes that any
      amount owed to Dr. Peskin does not exceed $25,187, in part based on information
      previously supplied by Dr. Peskin, and the Company disputes the merits of Dr.
      Peskin’s claims. The Company also believes that the complaint is deficient
      in various respects, and, without answering the complaint, has filed a motion
      to
      dismiss the complaint on these and other grounds.  At this stage, we
      are unable to predict the likelihood of a favorable outcome to this
      proceeding.


**Item
                5.**
            **Other
                Information**





On
      September 10, 2007, we entered into a Securities Purchase Agreement with Norman
      Farrar and PurFusion Group of Companies, Inc. and its subsidiaries under which
      we agreed to purchase all of the issued and outstanding capital stock of
      Profusion Group.  We previously reported this event on a Current
      Report on Form 8-K, and additional information relating to this Agreement is
      contained elsewhere in this report.  As reported, our consummation of
      this transaction is subject to conditions precedent including our receipt of
      the
      necessary information to complete an audit of PurFusion Group.  As of
      the date of this report, despite our requests, we have not received information
      from PurFusion that would allow an audit of PurFusion to be
      completed.  Moreover, two news services have incorrectly reported that
      a client of PurFusion had completed a reverse acquisition with
      247MGI.  Despite our requests for information from PurFusion detailing
      its knowledge of the erroneously published information, PurFusion has not
      provided any response to our requests.  Accordingly, at this time we
      are unable to predict whether our proposed acquisition of PurFusion Group will
      be consummated, and we have not yet formed a conclusion as to whether there
      is
      any connection between PurFusion Group and the erroneous news information that
      was published concerning PurFusion Group’s client..





On
      September 12, 2007 we entered into a Letter of Intent with Ross McCullough
      to
      negotiate and enter into a Technology Assignment and Transfer Agreement relating
      to technology that we intend to use in connection with our streaming IPTV and
      IPRadio broadcasts.  We previously reported this event on a Current
      Report on Form 8-K, and additional information relating to this proposed
      agreement is contained elsewhere in this report.  Among our
      obligations to be included in the proposed agreement with McCullough will be
      an
      obligation to secure approximately $1,500,000 for the development and
      exploitation of the technology to be acquired.  However, until such
      time as our securities resume trading on the OTC Bulletin Board we are not
      likely to succeed in raising the financing to satisfy our obligations under
      the
      proposed Technology Assignment and Transfer Agreement. Therefore, we have not
      yet entered into the Technology Assignment and Transfer Agreement with
      McCullough and we cannot predict whether we will ever be in a position to do
      so.








**Item
                6.**
            **Exhibits**





31.1
            Section
                302 Certificate of Chief Executive Officer31.2
            Section
                302 Certificate of the principal financial and accounting
                officer


32.1
            Section
                906 Certificate of Chief Executive
                Officer




23


**SIGNATURES**





In
      accordance with the requirements of the Exchange Act, the registrant has caused
      this report to be signed on its behalf by the undersigned thereunto duly
      authorized.





247MGI,
                INC.November  19,
                2007
            
            
            By: /s/
                Matthew P. DwyerMatthew
                P. Dwyer, CEO, CFO and President, principal executive officer and
                principal financial and accounting
                officer





24