We are amending our Quarterly Report on Form 10-QSB/A for the quarter ended September 30, 2007 as previously filed on November 14, 2007. We have identified certain accounting errors related to costs of non-cash stock transactions that were originally treated as stock issued for consulting services and pursuant to the restatements have been recorded as previously granted options being exercised.

We have revised footnotes 3 and 6 to disclose the stock options exercised and provide information on subsequent changes. The effect of the non-cash changes related to accounting for these options exercised on our consolidated statement of operations for the three months ended September 30, 2007 was a decrease in our net loss of $547,500. Basic loss attributable to common shareholders per share for the three months ended September 30, 2007 decreased $0.02 per share. The cumulative effect on our consolidated balance sheet as of September 30, 2007 was a reduction of additional paid-in capital and accumulated deficit of $547,500.

In all other material respects, this amended Quarterly Report on Form 10-QSB/A is unchanged from the previously filed Quarterly Report on Form 10-QSB. This amended Quarterly Report on Form 10-QSB/A does not attempt to modify or update any other disclosures set forth in the Form 10-QSB previously filed or discuss any other developments after the respective dates of those filings except to reflect the effects of the restatements described above.

General

The Registrant acquired its operating subsidiaries Veracity Management Group, a Florida corporation ("VMG") and Secured Financial Data Inc., a Florida corporation ("SFD") effective on July 1, 2006. Prior to the acquisition of its operating subsidiaries, during the period from May 2002 until the acquisition of its operating subsidiaries on July 1, 2006, the Registrant had only limited business operations.

The following is derived from, and should be read in conjunction with, our consolidated financial statements, and related notes, as of and for the periods ended September 30, 2007 and 2006. The Registrant generates revenues from its present operations based on hourly rates and fixed rates. Our fixed-rate contracts involve an engagement retainer and typically provide for monthly fees. Our hourly-rate contracts are billed monthly.

Revenues. We generated revenues of $454,835 during the three-month period ended September 30, 2007 as compared to $271,892 during the same period in the prior year, representing an increase of $182,943, or 67%. The increase in revenues was mainly attributable to new clients. We anticipate continued growth in our current service offerings based on new and existing clients, as well as the development of new complementary service offerings arising from our considerable project portfolio.

Cost of Services. Cost of services for the three-month periods ended September 30, 2007 and 2006 were $402,175 and $244,838, respectively. Our cost of services consists mainly of labor costs for project consultants and information technology professionals.

Administrative Expenses: Our administrative expenses increased to $123,824 during the three-month period ended September 30, 2007 compared to $50,241 during the three-month period ended September 30, 2006. The increase is primarily attributed to an expansion of administrative personnel to facilitate our growth.

General Expenses. General expenses were $195,526 and $1,394,427 during the three-month periods ended September 30, 2007 and 2006, respectively. The significant decrease in our general expenses was due to decreased non-cash compensation expenses related to administrative services, sales, marketing, contract analysis, technical and sales services and IT consulting services of $127,450 during the three-month period ended September 30, 2007 as compared to non-cash compensation of $1,345,904 during the same period in the prior year. The Company may continue to issue shares of common stock from time to time in lieu of cash for services provided to the Company until the Company generates sufficient positive cash flow from operations.

Selling expenses: Our selling expenses during the three-month period ended September 30, 2007 increased to $122,801 from $58,278 during the same period in the prior year. We expect continued increases in selling expenses related to increasing revenues from current service offerings. We believe that additional selling expenses will be incurred as we develop new synergistic business opportunities and expand into new markets.

Net Loss. We incurred a net loss of $361,200 during the three-month period ended September 30, 2007, compared to a net loss of $1,596,352 during the three-month period ended September 30, 2006, representing a decrease of $1,235,152, or 77%.

At September 30, 2007, we had current assets of $446,551 consisting of mainly of cash and accounts receivable compared to current assets of $411,489 at June 30, 2007. At September 30, 2007 and June 30, 2007, we had total assets of $603,240 and $418,728, respectively. We had total current liabilities of $529,750 at September 30, 2007 compared to $217,655 at June 30, 2007. As of September 30, 2007, our current liabilities were principally composed of $64,199 in accounts payable and accrued expenses, $4,473 in accrued interest and $461,078 under a line of credit. We had long-term liabilities of $51,763 as of September 30, 2007 compared to $197,174 at June 30, 2007. As of September 30, 2007, these liabilities consist of $11,965 in loan payable and stockholder loans of $39,798. We had total liabilities of $581,513 as of September 30, 2007 compared to $414,829 as of June 30, 2007.

We had negative working capital of $83,199 at September 30, 2007. Net cash used in operations during the three-month period ended September 30, 2007 was $179,797 compared to cash used of $319,727 during the three months ended September 30, 2006. Our negative cash flow from operations was mainly due to our net loss of $361,200 and decrease in accounts payable by $17,633, principally offset by a decrease in accounts receivable of $109,459 and non-cash compensation of $127,450.

The Company's financing activities consist mainly of issuance of debt and equity instruments. During the three-month period ended September 30, 2007, the Company's financing activities provided $474,318 compared to $360,397 during the same period in the prior year. The Company utilized $329,729 under its line of credit and received proceeds of $290,000 through the issuance of restricted stock and made repayments of $145,411 on stockholders loans.

We believe that despite funding provided under our bank line-of-credit and funding available from our management, we may need additional funding to execute our planned expansion of our sales and marketing efforts. As of September 30, 2007, shareholders have loaned the Company $39,798 at 10.25% due on May 31, 2009. We have no written funding commitment from management and affiliated parties.

There are no limitations in the Company's articles of incorporation on the Company's ability to borrow funds or raise funds through the issuance of restricted common stock. The Company's believes that it has the ability to borrow funds and/or raise capital through the sale of restricted stock. To the extent that additional debt financing is utilized, any borrowing will subject us to various risks traditionally associated with indebtedness, including the risks of interest rate fluctuations and insufficiency of cash flow to pay principal and interest.

During the three months ended September 30, 2007, the Company incurred a loss from operations of $361,200, which was primarily due to non-cash compensation of $127,450 represented by stock issued for consulting services. At September 30, 2007 the Company had cash of $164,281. We had an accumulated deficit of $2,896,235 at September 30, 2007. We have incurred negative cash flow from operations of $179,797 during the three-month period ended September 20, 2007.

The Company principally funded its negative cash flow from operations during the three months ended September 30, 2007 through the sale of restricted stock which generated proceeds of $290,000 and by utilizing our line of credit.

We have financed our operations primarily through related party debt financing and equity raising. Our continued operations will depend on whether we are able to continue to raise additional funds through various potential sources, such as equity and debt financing, including the sale of additional equity and receipt of additional debt financing. We do not have any agreements with our management to continue to loan monies to the Company. Additional funds may not become available on acceptable terms and there can be no assurance that any additional funding that we do obtain will be sufficient to meet our needs during the next twelve months or in the long term.

We have spent, and expect to continue to spend, additional amounts in connection with implementing our business strategy. Based on our current plans, we believe that our cash together with anticipated increased revenues, an increase of our existing credit facility, obtain additional shareholder funding, and improved ability to sell restricted stock as a public company to raise funds will be sufficient to enable us to meet our planned operating needs at least for the next 12 months. However, the actual amount of funds we will need to operate is subject to many factors, some of which are beyond our control. If the market for our services develops more slowly than we anticipate or if unexpected expenses or increases in costs arise; there can be no assurance that we will be able to raise additional capital in a timely manner as and if needed.

We have based our estimate on assumptions that may prove to be wrong. We may need to obtain additional funds sooner or in greater amounts than we currently anticipate. Potential sources of financing include strategic relationships, public or private sales of our shares or debt and other sources. We may seek to access the public or private equity markets when conditions are favorable due to our long-term capital requirements. We may need committed sources of financing at this time, and it is uncertain whether additional funding will be available when we need it on terms that will be acceptable to us, or at all. If we raise funds by selling additional shares of common stock or other securities convertible into common stock, the ownership interest of our existing stockholders will be diluted. If we are not able to obtain additional financing, we may be unable to carry out our business plan. As a result, we may have to significantly limit our operations and our business, financial condition and results of operations would be materially harmed.

As of the end of the period covered by this Interim Report, our Chief Executive Officer and Chief Financial Officer (the “Certifying Officers”) conducted evaluations of our disclosure controls and procedures. As defined under Sections 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 Act, as amended (the “Exchange Act”) the term “disclosure controls and procedures” means controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including the Certifying Officers, to allow timely decisions regarding required disclosure. Based on this evaluation, the Certifying Officers originally concluded that our disclosure controls and procedures were effective to ensure that material information is recorded, processed, summarized and reported by our management on a timely basis in order to comply with our disclosure obligations under the Exchange Act, and the rules and regulations promulgated there under.

However, as discussed in Note 8 of Notes to Consolidated Financial Statements, the consolidated financial statements as of and for the quarter ended September 30, 2007 as presented herein have been restated from those previously presented in our Interim Report on Form 10-QSB for the quarter ended September 30, 2007 correcting certain errors related to a certain stock transaction which was previously recorded as non-cash stock compensation.

The need to restate the consolidated financial statements for the quarter ended September 30, 2007 was discovered by the Company in connection with its preparation of its Quarterly Report on Form 10-QSB for the quarter ended December 31, 2007. In connection with the filing of that Quarterly Report on Form 10-QSB the Company carried out, under the supervision of and with the participation of the Company’s management, including the Company’s Certifying Officers, an evaluation of the effectiveness of its disclosure controls and procedures as those controls existed as of December 31, 2007 (i.e. the end of the period covered by the subject quarterly report). Based on this evaluation, the Certifying Officers concluded that the Company’s disclosure controls and procedures were not effective to ensure that material information is recorded, processed, summarized and reported by management of the Company on a timely basis in order to comply with the Company’s disclosure obligations under the Exchange Act, and the rules and regulations promulgated there under. The Certifying Officers’ conclusion that the Company’s disclosure controls and procedures were not effective was based upon a determination that a deficiency related to the Company’s accounting for its acquisitions and stock based compensation, as discussed below.

On February 14, 2007, the Company issued a press release, which was filed in a Current Report on Form 8-K, announcing that its first quarter 2007 financial statements would be restated to reduce the loss from the issuance of compensation relating to the merger on July 1, 2006 and valuation based on the SFAS No. 141 that states “the contingent consideration usually should be recorded when the contingency is resolved and consideration is issued or becomes issuable”, and “general expenses related to business combinations shall be expensed as incurred” The original merger agreement called for a specific payment for the company when it’s stock reached the Over-The-Counter Bulletin Board, as well as granted options to an individual in exchange for certain third party payments when made. These payments were made and expensed in the 1^st quarter in the sum of $35,000 and the shares when issued also mistakenly charged to compensation as if they were optioned exercised for services. This amendment corrects the handling of these options. The contingency was met in that quarter and the payment for the company of $150,000 was recorded as Goodwill. In this press release, the Company urged the marketplace not to rely on its previously filed financial statements for the quarter ended September 30, 2007 until such amended report is filed with the SEC. The cumulative effect of this amendment to the Consolidated Statement of Operations is to reduce the Net Loss for the three-month period ended September 30, 2007 from $908,700 or $(.03) per share to $ 361,200 or $(.01) per share. The cumulative effect on our consolidated balance sheet as of September 30, 2007 was a reduction of additional paid-in capital and accumulated deficit of $547,500.

The error in the first quarter 2008 financial statements discussed above were discovered in the process of the Company’s preparation of its Quarterly Report on Form 10-QSB for the quarter ended September 30, 2007. The Company, under the supervision of its Audit Committee and with the assistance of independent counsel which, in turn, is assisted by an independent accounting expert, immediately commenced an inquiry into the circumstances relating to the foregoing errors to assure that there are no other financial reporting or disclosure controls and procedures items that may be of concern. While the Audit Committee’s investigation has now concluded that no other adjustments to the interim 2008 financial statements appear necessary, it is continuing to investigate the circumstances relating to the foregoing errors in order to assess what changes, if any, are needed to the Company’s financial reporting or disclosure controls and procedures.

As a result of the matters discussed above, in connection with the filing of this Amended Quarterly Report on Form 10-QSB/A for the quarter ended September 30, 2007, our Chief Executive Officer and Chief Financial Officer (the “Certifying Officers”) conducted new evaluations of our disclosure controls and procedures, as defined under Sections 13a-15(e) and 15d-15(e) of the Exchange Act, as of September 30, 2007, the end of the period covered by this Amended Quarterly Report on Form 10-QSB/A. Based on this evaluation, the Certifying Officers concluded that our disclosure controls and procedures not were effective to ensure that material information is recorded, processed, summarized and reported by our management on a timely basis in order to comply with our disclosure obligations under the Exchange Act, and the rules and regulations promulgated there under for the reasons set forth above.

Preliminarily, the Company’s management and the Audit Committee have determined that education and professional development of accounting staff on certain accounting and disclosure rules relating to the impairment of long-lived assets and goodwill, and the accounting and disclosure rules related to certain specialized financial instruments, would be sufficient to prevent a reoccurrence. The Company’s management also believes that it needs to continue to upgrade the size and sophistication of its accounting and financial staff. Presently the Company’s management and the Audit Committee believe that no other changes to the Company’s disclosure controls and procedures were needed in response to the discovery of the errors described above.

Changes in internal controls. There were no significant changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the 1934 Act) during the period ended September 30, 2007, that have materially affected or are reasonably likely to materially affect, our internal control over financial reporting.

The accompanying consolidated financial statements of Veracity Management Global, Inc (the "Company", "VCMG") at September 30, 2007 have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in conformity with generally accepted accounting principles have been omitted or condensed pursuant to such rules and regulations. These statements should be read in conjunction with VCMG’s audited financial statements and notes thereto included in VCMG’s Form 10-KSB. In management’s opinion, these interim consolidated and unaudited interim financial statements reflect all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation of the consolidated financial position and results of operations for each of the periods presented. The accompanying unaudited interim financial statements for the three months ended September 30, 2007 are not necessarily indicative of the results which can be expected for the entire year.

The Company follows accounting principles generally accepted in the United States of America. Certain prior period amounts have been reclassified to conform to the September 30, 2007 presentation. On August 2, 2007, the Company’s Board of Directors approved a 1 for 73 reverse split of the Company’s common stock by Action of the Board and a majority of shareholders. All information related to common stock, warrants to purchase common stock and earnings per share have been retroactively adjusted to give effect to the stock split. The consolidated financial statements include the accounts of Veracity Management Global, Inc, Secured Financial Data, Inc and Veracity Management Group, Inc. Any inter-company transactions are eliminated in consolidation.

Restatements of previously reported 2007 financial results were made. See Note 8.

Veracity Management Global, Inc.’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business for the foreseeable future. Since inception, the Company has accumulated losses aggregating to $ 2,896,235 and has insufficient working capital to meet operating needs for the next twelve months as of September 30, 2007, all of which raise substantial doubt about VCMG’s ability to continue as a going concern.

On August 2, 2007, the Company’s Board of Directors approved a 1 for 73 reverse split of the Company’s common stock by Action of the Board and a majority of shareholders. All information related to common stock, warrants to purchase common stock and earnings per share have been retroactively adjusted to give effect to the stock split.

During the year ended June 30, 2007, VCMG sold 930,735 shares and 319,000 warrants under private placement memorandums for $474,000. The warrants have an exercise price of $1.00 per share and expire in five years from the date of issuance. Using the Black-Scholes pricing model VCMG estimated the relative fair value of the warrants to be $314,215. Prior to July1, 2006, Secured Financial Data (See Note 7) sold certain units which contained 100,000 warrants to purchase common stock at an exercise price of $1.00 per share exercisable for five years from the date of issue.

During the three months ended September 30, 2007, VCMG sold 550,000 shares under a private placement memorandum for $290,000. There were no warrants granted with this placement.

There were no registration rights penalties that would be consider un-economic in any of the private placements.

During the three months ended September 30, 2007 stock issued for services representing 931,667 shares were authorized and granted. VCMG has recorded $127,450 of general and administrative expense representing the fair market value of the stock issued on the measurement date based upon the closing quoted market price of VCMG’s common stock. During this same period a consultant exercised his option of 1,000,000 shares of VCMG common stock. This consultant paid expenses on behalf of VCMG as their exercise price in amount equal to $35,000. This expense paid on behalf of VCMG is included in general and administrative expense.

On July 31, 2007, the Company’s Board of Directors authorized the cancellation of 5,267,675 shares of common stock for lack of consideration. These shares were previously accounted for as shares issued for services. The statement of operations for the three-month period ended September 30, 2007 includes a reduction of general and administrative expense by the original fair market value of the stock cancelled of $38,455. This stock was returned to VCMG.

On various dates in fiscal 2006 and 2007, two stockholders lent the Company approximately $250,000, evidenced by promissory notes bearing an interest rate of Prime plus 2.00% (10.25% at September 30, 2007) and due on May 31, 2009. In addition the notes are convertible to common stock at any time at a conversion rate of $0.511 cents per share. In addition, 200,000 Warrants have been granted at an exercise price of $1.00 per share exercisable for 60 months from the date of the notes.

As a result we have determined that the conversion feature of the notes and warrants issued are not derivative instruments pursuant to SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities, as amended. Under the provisions of EITF Issue 98-5 the Company estimated the fair value of the beneficial conversion feature at the issuance of the notes using the Black-Scholes option pricing model at $59,126. Those amounts are amortized over the life of the notes.

On June 1, 2007 the existing stockholder notes payable were refinanced; new notes of approximately $182,000 (representing unpaid principal and accrued interest as of the refinance date) were issued; the interest rate and maturity dates remain the same. The new notes do not provide a conversion feature; there is no remaining discount at September 30, 2007 as the remaining discount has been expensed as a component of interest expense during the 12 month period ended June 30, 2007. All of the notes are considered long term as principal payments are not due during the next 12 months.

In December 2006, the Company entered into a secured $100,000 credit facility with a bank to finance working capital. In May 2007 the secured facility was increased to $200,000. The loans under this facility bear interest at a rate of 10.25 % and are secured by certificates of deposit owned by an entity controlled by the CEO and his wife. Interest payments are made on a monthly basis; principal is due at maturity – May 8, 2008. In July 2007 the facility was increased again to $400,000; $200,000 is secured and $200,000 is unsecured. The maturity date was extended to July 23, 2008, all other terms remain the same.

In September 2007, the Company entered into a second secured $100,000 credit facility with a bank to finance working capital. This facility bears interest at a rate of 10.25 % and is secured by a certificate of deposit owned by the company. The balance of the credit facilities at September 30, 2007 was $385,353 and $75,725 respectively. The balance at June 30, 2007 was $131,350 and 0, respectively.

VCMG had granted warrants to purchase the common stock of Secured Financial Data, Inc, a subsidiary as part of the private placement memorandum discussed in Note 3 above. In addition it granted warrants as part of the convertible notes payable to stockholders as described in Note 4 above. VCMG also granted 1,000,000 options to a consultant during the year ended June 30, 2006 at an exercise price of 70% of the average 5 days closing price of VCMG’s common stock as quoted on the OTCBB.

The information below does not include the reflection of the reverse merger discussed in note 3 above:

On July 1, 2006, Veracity Management Global, Inc, (VCMG) merged with Veracity Management Group, Inc. (VMG) and Secured Financial Data, Inc. (SFD). Pursuant to a Share Exchange Agreement, VCMG issued 22,583,038 shares of common stock in exchange for all the outstanding common stock of VMG (3,535,353 shares) and SFD (19,047,685 shares).

For accounting purposes, the merger was treated as a recapitalization of VCMG by SFD and a purchase of VMG by VCMG. Accordingly, the financial results presented for all periods prior to the merger date are those of SFD. This evaluation was conducted pursuant to the guidance in SFAS statement No. 141 as the former SFD shareholders have majority control of VCMG subsequent to the merger through majority voting interest, control the majority of the board of directors, and control the majority of all management decisions. VMG is a wholly owned subsidiary. SFD’s equity structure was restated to adopt the equity structure of VCMG (73 shares of VCMG for each share of VMG and SFD). As of the merger date, the financial statements include the combined operating results, assets and liabilities of VCMG, VMG and SFD. Since VCMG was inactive prior to the merger, it is not expected to constitute a significant part of the ongoing business of the combined company.

VCMG issued a total of 22,583,038 shares of common stock as a result of the above transactions. 3,535,353 shares were issued to the shareholders of VMG resulting in total assets and liabilities of $130,804 and $49,169, respectively, at July 1, 2006. 19,047,685 shares were issued to the shareholders of SFD resulting in total assets and liabilities of $62,418 and $204,102, respectively, at July 1, 2006. As a result of the recapitalization, SFD’s assets and liabilities are stated at historical cost. As a result of the business combination between VCMG and VMG, VMG’s assets and liabilities are stated at fair market value which approximates historical cost.

The purchase price paid for VMG was $25,810. This represented a discount to the book value of VMG of $55,827. Pursuant to the terms of the agreement the majority shareholders of VCMG immediately prior to the merger have the option to receive an additional 20% equity ownership in VCMG or rescind the merger if certain financial benchmarks are not achieved by December 31, 2008. Consistent with the guidance in SFAS No. 141 we have recorded a liability of $55,837 for the discounted price paid for VMG due to this possible contingency.

Since the above transactions took place on July 1, 2006 the first day of fiscal 2007, the financial results presented for the 12 month period ended June 30, 2007 would not differ had the transaction occurred at an earlier date.

The Company has restated its quarterly financial statements from amounts previously reported for the three months ended September 30, 2007. The Company has determined that costs related to a certain stock transaction were previously recorded as a non-cash, stock for compensation and therefore are now accounted for as previously granted options being exercised. Notes 3 and 6 was edited to disclose the options exercised and provide information on subsequent changes. The effect of the (non-cash) changes related to accounting for these options exercised on our statement of operations for the three months ended September 30, 2007 was a decrease in our net loss of $547,500. Basic loss attributable to common shareholders per share for the three months ended September 30, 2007 decreased $0.02 per share. The cumulative effect on our balance sheet as of September 30, 2007 was a reduction of additional paid-in capital and accumulated deficit of $547,500.

In all other material respects, this Amended Quarterly Report on Form 10-QSB/A is unchanged from the Quarterly Report on Form 10-QSB previously filed by us on November 14, 2007. This Amended Quarterly Report on Form 10-QSB/A does not attempt to modify or update any other disclosures set forth in the Form 10-QSB previously filed or discuss any other developments after the respective dates of those filings except to reflect the effects of the restatements described above, certain risk factor disclosure and except as otherwise specifically identified herein. This amendment should also be read in conjunction with our Quarterly Report on Form 10-QSB/A for the quarter ended September 30, 2007.

In all other material respects, the financial statements are unchanged.

Following is a summary of the restatement adjustments:

As of September 30, 2007

(a) To record reclassification associated with the stock options exercised.