SEAMLESS WI FI kurz vor EXPLOSION!

 

S-SIB(TM) Now Covered Under $2 Million Product Liability Insurance

 

2007-09-27 09:00 ET - News Release

LAS VEGAS, NV -- (MARKET WIRE) -- 09/27/07

Seamless Wi-Fi, Inc. (OTCBB: SLWF) today announced that all of its products, including its new 'Seamless Secure Internet Browser' (S-SIB(TM)), are now covered under a $2 million product liability policy (www.s-sib.com). In addition, S-SIB(TM) is generating great interest at ASIS International 2007 show this week in Las Vegas, Nevada. Photos of show activity at the Seamless booth #4414 are available at http://www.slwf.net/main-site/media/asis-2007.html.

"Our and our insurance underwriters confidence in S-SIB's ability to protect particularly wireless mobile computer users from data hijacking over insecure, evil-twinned or spoofed connections is reflected in the amount of product liability coverage offered," said Philip Siegel, president of the Seamless Skyy-Fi, Inc., subsidiary of Seamless Wi-Fi.

For a free 30-day S-SIB(TM) service trial, download the software directly from www.s-sib.com. Seamless Wi-Fi invites potential users to take advantage of the ASIS show introductory special price of only $9.95 for a full year of S-SIB(TM) service. This price will remain in effect during the ASIS show and will end on October 12, 2007. The normal price for S-SIB(TM) is $39.95 per year.

S-SIB(TM) is a Virtual Private Network (VPN) service with a nominal annual fee that secures a user's Internet usage via any wireless or wired connection with government-grade 256-bit encryption, logging users through secure servers to create high-bandwidth encrypted VPN tunnels. The S-SIB(TM) subscriber IP address is exchanged for a Seamless IP address, making users anonymous and prohibiting IP tracking. S-SIB(TM) is an essential security safeguard for mobile computer users to prevent interception of sensitive data and identity theft. According to information released in the Department of Homeland Security Daily Open Source Infrastructure Report for 02 August 2007, "users should never use a Wi-Fi hotspot unless they are using VPN (virtual private networking) or SSL (secure sockets layer) to access their accounts."

S-SIB(TM), as well as the Phenom® 3.0 Secure Enterprise Collaboration Suite and final production model of the S-XGen(TM) Mobile Computing and Communications Device, were showcased at ASIS International 2007, booth #4414 at the Las Vegas Convention Center, September 24 - 27, 2007.

About Seamless Wi-Fi:

Seamless Wi-Fi, Inc. (www.slwf.net) is a Las Vegas-based company quoted on the OTC Bulletin Board under the symbol SLWF. Seamless Wi-Fi develops and markets secure cutting-edge internet communications products and services through its three operating subsidiaries: Seamless Skyy-Fi, Inc. (www.skyyfi.com), Seamless Peer 2 Peer, Inc. (www.seamlessp2p.net), and Seamless Internet, Inc. (www.seamlessinternet.com).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Seamless Wi-Fi or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

 

For Seamless:
Rich Schineller
rich@slwf.net

 

werden ,ansonsten rutschen uns unsere Gewinne in den Treibsand.Hier fehlen noch immer die Käuferschicht ,die Umsatzzahlen des achso tollen Gerätes ,Anleger die hier aufmerksam gemacht werden sich für uns zu interessieren und einteigen zu wollen um uns einen guten Ausstand zu bescheeren ,buran  

Bin selber in diesen SCHÖÖNEN Wert mit dabei. Glaube aber nicht das irgendeiner der diesen Wert haltet im PLUS ist. Schade währe mir auch lieber wenn es anders währe.
Uns ALLEN viel Glück mehr kann man dazu nicht sagen.  

SLWF steht in den USA mit einem Kurs von 0,0003 $ ist in Euronen 0,0002119 ?
leider. Der Kurs in Deuschland an allen Börsenplätzen bei 0,0010 ? also 5 Mal höer als in den USA deshalb steigt ja der Kurs auch nicht.  

 

will ich auch garnicht haben ,diese paar Pupzeratzen.Was wir wollen sind steigende Kurse und dann nichts wie vom Acker mit den Gewinnen.  

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549

FORM 12b-25
NOTIFICATION OF LATE FILING

(Check One)

[X] Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-QSB
[ ] Form N-SAR

For Period Ended: June 30, 2007
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ________________________

+------------------------------------------------- | | |Read Instruction (on back page) Before Preparing Form. Please Print or Type. | | | | Nothing in this form shall be construed to imply that the Commission has | | verified any information contained herein. | --------------------------------------------------

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

PART I - REGISTRANT INFORMATION

SEAMLESS WI-FI, INC.

---

Full Name of Registrant:

---

Former Name if Applicable
800 N. RAINBOW BLVD., SUITE 200

---

Address of Principal Executive Office (Street and Number)
LAS VEGAS, NEVADA 89109

---

City, State, Zip Code

---

PART II - RULES 12b-25 (b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

XX (a) The reasons described in reasonable detail in Part III of this form -- could not be eliminated without unreasonable effort or expense; XX (b) The subject annual report, semi-annual report, transition report on -- Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-QSB, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR or the transition report or portion thereof could not be filed within the prescribed time period.

THE ANNUAL REPORT OF THE REGISTRANT ON FORM 10-KSB COULD NOT BE FILED BECAUSE OUR AUDIT FIRM WAS UNABLE TO COMPLETE THE FINANCIAL REPORTS IN TIME.

PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification:

ALBERT REDA 775 588-2387 ---------------------------- ----------------- --------------- (Name) (Area Code) (Telephone No.)

 

(2) Have all other periodic reports required under section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s). [X]Yes [ ]No

---

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? [ ]Yes [X]No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

---

SEAMLESS WI-FI, INC.
(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.

Date: SEPTEMBER 28, 2007 By: /S/ ALBERT REDA ----------------------------- ------------------------------------- ALBERT REDA, PRESIDENT

INSTRUCTION; The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. if the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

 

<!-- FOOTER LOGO -->

 

mit der Dividente sollten bis zu 8Mia(400k x 20k) shares befridigt werden!
Die nächsten Tage kommen die Zahlen!
Das heist wir werden erfahren wieviel Geistershares in Umlauf sind!

G 10ME  

SOURCE: Seamless Wi-Fi, Inc.

Oct 03, 2007 08:45 ET
Seamless Reports on ASIS International 2007, Dividend Distribution & FCC Certification Plans
Highlighted Links


Seamless Wi-Fi, Inc.
LAS VEGAS, NV--(Marketwire - October 3, 2007) - Seamless Wi-Fi, Inc. (OTCBB: SLWF) today announced the following information regarding: (1) the reception of the Company's products at ASIS International 2007; (2) progress of the stock distribution to Seamless Wi-Fi shareholders; and (3) the Company's pursuit of Federal Communications Commission ("FCC") certification for the S-XGen?.

Seamless Wi-Fi rolled out its new "Seamless Secure Internet Browser" (S-SIB?) service to security professionals at the ASIS International 2007 show in Las Vegas from September 24 through 27, 2007. Interest in S-SIB?, the S-XGen? and Phenom® was high among the show's attendees, including among representatives of major federal, state and local law enforcement, investigatory and regulatory agencies.

In addition, S-SIB? was prominently featured in a session conducted at ASIS entitled "Securing Your Personal and Corporate Data While on the Road." Seamless Wi-Fi will conduct an online webinar for IT and security professionals on mobile data security featuring S-SIB? in October 2007, with the date and time to be determined. S-SIB? is a Virtual Private Network (VPN) service and, according to information released in the Department of Homeland Security Daily Open Source Infrastructure Report, dated August 2, 2007, "users should never use a Wi-Fi hotspot unless they are using VPN (virtual private networking) or SSL (secure sockets layer) to access their accounts."

For a free 30-day S-SIB? service trial, please download the software directly from www.s-sib.com. Or, take advantage of the ASIS show special price of only $9.95 for a full year of service. This price will remain in effect until October 12, 2007. An annual S-SIB? subscription normally costs $39.95.

Regarding the distribution of 1st Global Financial Corporation common stock to Seamless Wi-Fi shareholders, Seamless Wi-Fi transferred the shares on September 17, 2007. CEDE, the central depository for the distribution, has notified the brokerage houses that the shares are available for distribution by CEDE as soon as the broker submits the corresponding shareholder distribution information. If you are a shareholder entitled to the share distribution, please contact your broker so they may facilitate the distribution.

Seamless Internet, Inc. had the S-XGen? tested for FCC compliance and the unit has passed FCC non-interference performance parameters. However, to fulfill Microsoft certification requirements, Seamless Internet was required to fit a higher-resolution screen onto the production model S-XGen?. The improved S-XGen? will be submitted to the FCC for certification testing this quarter.

About Seamless Wi-Fi:

Seamless Wi-Fi, Inc. (www.slwf.net) develops and markets secure cutting-edge internet communications products and services through its three operating subsidiaries: Seamless Skyy-Fi, Inc. (www.skyyfi.com), Seamless Peer 2 Peer, Inc. (www.seamlessp2p.net), and Seamless Internet, Inc. (www.seamlessinternet.com).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Seamless Wi-Fi or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

Contact:
For Seamless:
Rich Schineller
rich@slwf.net Click here to see all recent news from this company  

bringen?  

WiFi  

app.quotemedia.com/quotetools/showFiling.go

 

Wir lassen mal die Kohle links liegen und scheren uns nicht mehr um die Höhe der Einkaufsordern.Wir sollten hier 'ne Witzrunde eröffnen ,dass uns die Zeit vertreiben tut.Absolut tot ,null Luft im Kessel.Null Fun-Faktor.a.D.  

http://www.sec.gov/about/forms/form5data.pdf
 

Es geht mir gut ,nur die Bier's fehlen.
                               Dein Klaus  

--------------------------------------------------
don't be greedy only, be smart greedy!
!! I'm not recommending anything to buy or to sell !!

!! Dies ist keine Kauf- oder Verkaufsempfehlung !!

kindly regards

mz
 

nach.Warum?
Wieso?
Auf was warte ich?
Keine Ahnung.
Vielleicht sind meine 5 Scheine schon futsch?
Wie kann ich verkaufen wenn kein Handel mehr besteht?
Warum wache ich morgens mit 'ner urbrachialen Morgenlatte auf?
Wegen dieser Aktie?
Bin ich allein investiert?
War ich im Vollrausch beim Ordern gwesen?
Warum passiert hier nichts mehr?
SCHEISSE ist noch geprahlt ,Dein buran  

dann fliegen bei mir aussortierte Depotleichen,dabei ist auch diesesmal Seamless,wenn bis dahin nicht was gravierendes passieren sollte,wo ich nicht von ausgehe.
Gehalten werden nur noch zwei,Obducat die ich normalerweise nicht als Depotleiche ansehe und GTREX wegen der erfolgreichen Umstrukturierung.  

Leider nur allzu schwierig diesen Mist abzustossen.Alles Bares und verschenkte Zeit hier.Kein Handel ,kein eindeutiger Hinweis auf einen Kurswachstum ,einfach sinnlos dieses Ding.  

SEAMLESS WI-FI, INC.: 10KSB, Sub-Doc 1      






                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                  FORM 10-KSB

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

                   For the fiscal year ended June 30, 2007

                                      or

[ ]     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: 000-202559

                             SEAMLESS WI-FI, INC.
           --------------------------------------------------
          (Name of Small Business Issuer as specific in its Charter)

                       NEVADA                                   33-0845463
                       ------                                   ----------
           (State or Other Jurisdiction of                   (I.R.S. Employer
           Incorporation or Organization)                   Identification No.)


800 N. RAINBOW BLVD., STE. 200, LAS VEGAS, NV                          89109
---------------------------------------------                          -----
(Address of Principal Executive Offices)                            (Zip Code)

        Issuer's telephone number, including area code: (775) 588-2387
                                                        --------------

       Securities registered pursuant to Section 12(b) of the Act: NONE
                                                                   ----

         Securities registered pursuant to Section 12(g) of the Act:

                         Common Stock, $.001 par value
                         -----------------------------
                               (Title of Class)

Indicate by check mark whether the issuer (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter periods 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 if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained herein, to
the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. Yes X No __

For the year ended June 30, 2007, our revenue was $42,717.

As of October 4, 2007, the number of shares of common stock outstanding was
6,841,422,154. The aggregate market value of our common stock held by
non-affiliates of the registrant as of October 4, 2007 was approximately
$2,023,110 (based upon 6,743,701,705 shares at $.0003 per share).





                      DOCUMENTS INCORPORATED BY REFERENCE

The following documents are incorporated herein by reference: (i) Quarterly
Report on Form 10-QSB for the quarterly period ended March 31, 1999, filed on
May 19, 1999; (ii) Quarterly Report on Form 10-QSB for the quarterly period
ended September 30, 1999, filed on December 1, 1999; (iii) Quarterly Report on
Form 10-QSB for the quarterly period ended March 31, 2000, filed on May 22,
2000; (iv) Current Report on Form 8-K, filed on October 4, 2004; (v) Current
Report on Form 8-K, filed on October 7, 2004; (vi) Annual Report on Form 10-KSB
for the fiscal year June 30, 2004, filed on November 12, 2004; (vii) Current
Report on Form 8-K, filed on January 19, 2005 and (viii) Quarterly Report on
Form 10-QSB for the quarterly period ended December 31, 2006, filed on February
20, 2007.







                                                 TABLE OF CONTENTS
                                                                                                              PAGE
                                                                                                              ----

                                                                                                         
ITEM 1   DESCRIPTION OF BUSINESS.........................................................­.........................1

ITEM 2   DESCRIPTION OF PROPERTY.........................................................­.........................9

ITEM 3   LEGAL PROCEEDINGS......................................................­..................................10

ITEM 4   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS......................................................10

ITEM 5   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTTERS................................................10

ITEM 6   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS....................11

ITEM 7   FINANCIAL STATEMENTS.......................................................­..............................17

ITEM 8   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.....................17

ITEM 8A  CONTROLS AND PROCEDURES.......................................................­...........................17

ITEM 8B  OTHER INFORMATION......................................................­..................................17

ITEM 9   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE
        EXCHANGE ACT..............................................................­...............................17

ITEM 10 EXECUTIVE COMPENSATION.....................................................­...............................19

ITEM 11 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS............21

ITEM 12 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.................................11

ITEM 13 EXHIBITS.........................................................­.........................................22

ITEM 14  PRINCIPAL ACCOUNTANT FEES AND SERVICES.........................................................­..........22

SIGNATURES .................................................................­......................................24






PART I

ITEM 1.   DESCRIPTION OF BUSINESS.

DEVELOPMENT OF BUSINESS

Seamless Wi-Fi, Inc. has three operating subsidiaries: (1) Seamless Skyy-Fi,
Inc. which, beginning in June 2004, provides wireless Internet access (commonly
known as "Wi-Fi"); (2) Seamless Peer 2 Peer, Inc. which, beginning in January
2005, develops and provides a patent pending software program called Phenom(R)
that encrypts Internet communications and provides flexible telecom data and
voice transport solutions, including its Freek2Freek social network; and (3)
Seamless Internet, Inc., established in November 2005, which offers high
security hosting services for customers of Seamless Peer 2 Peer, Inc. and
Seamless Skyy-Fi, Inc. and which is also manufacturing and marketing an ultra
mobile personal computer named the S-XGen.

BUSINESS

SEAMLESS SKYY-FI, INC.

Seamless Skyy-Fi, Inc. provides wireless Internet access at business locations.
This service is referred to as "wireless fidelity" or "Wi-Fi" and the locations
where this service is available are known as "Wi-Fi hot spots."

Seamless Skyy-Fi is also the developer of the patent pending software program
that provides Wi-Fi users with Seamless-Secure Internet Browsing (S-SIB(TM))
that encrypts the user's Wi-Fi signal. Seamless Skyy-Fi released its proprietary
S-SIB(TM) technology on August 15, 2007.

COMPETITION

The market for Internet services is highly competitive. There are no substantial
barriers for entry into the Wi-Fi market, based upon the advances of Internet
technology. Management expects competition to continue to grow and intensify.
This is especially true in the acquisition and installation of Wi-Fi hot spots.
We believe creating Wi-Fi hot spots is one of the fastest growing segments of
the Internet and both the private and public sector are becoming involved in the
market.

Our competition includes, but is not limited to, the following companies:

    o        Advanced Internet Access, LLC
    o        FatPort
    o        Netnearu Corp.
    o        Wayport, Inc
    o        Wi-Fi Guys, LLC
    o        Netopia, Inc.
    o        Icoa, Inc.


                                      1



Several companies, such as Starbucks and T-Mobile, have jointly entered into the
competition with their own Wi-Fi locations. Other companies, such as ICOA, are
attempting to acquire existing independent Wi-Fi companies. Other attempts are
being made to develop roaming agreements between the Wi-Fi locations and
companies to allow more access to existing Wi-Fi customers. Cellular telephone
companies are trying to organize a network of Wi-Fi locations under their
umbrellas. Other cellular telephone companies, such as Sprint, are also offering
mobile Internet access through connection to their cellular networks. The
hospitality industry is going to a free Wi-Fi model and fast food chains are
offering service for a fee for Wi-Fi access at their locations.

Another factor that impacts the Wi-Fi sector is that there are venues, such as
cities and colleges, that are offering free Wi-Fi. Management feels that free
Wi-Fi will not work because there are fixed costs for bandwidth that have to be
paid by someone. Other costs which are also not free nor can they be waived, are
costs of the broadcast radios, routers and antennas. Free Internet has been
tried in the past, for example Net Zero had to move away from that model due to
the fact that revenue from advertisers did not offset the hard cost of accessing
the Internet.

Competitors that have access to financial markets and cutting edge technological
resources will remain viable for growth and expansion. These and other types of
competitors for Internet access are expected to continue making substantial
expenditures to promote, expand and improve their on-line properties.

With the continued growth of the technology sector and the increased competition
for the Wi-Fi Internet access business, there has been a corresponding increase
in the number of business failures, which has negatively impacted availability
of funds for these developing businesses. These occurrences have also impacted
the availability of funds for us. We have obtained funding for acquisition and
deployment of its Wi-Fi hot spot locations.

Several of the principal competitive factors which would determine success in
our targeted markets are:

    o        location;
    o        high speed bandwidth availability;
    o        customer base;
    o        fee arrangement, i.e., location owner pays vs. end user pays;
    o        potential number of simultaneous users; and
    o        implementation costs.

To acquire locations, we plan on using a small in-house sales staff and several
independent salespersons. This allows us to adjust sales activities as required.
The in-house sales staff also allows us to maintain continuity with the sales
training and presentations of the independent sales personnel.

MARKETING PLAN

We plan to concentrate our marketing campaign within a given region first to
businesses within the chosen area that meet the criteria determined by our
management. The types of businesses



                                      2



that meet the criteria include coffee shops, carwashes, and hotels. Once a Wi-Fi
hot spot location is established, we plan to advertise in order to inform the
consumer of the availability of Wi-Fi service at that location.

Once it establishes name recognition within the marketed region, we plan to
refocus our marketing campaign to another region and/or business type.

Our marketing campaign will use on-line services, web site placement and
advertising networks, as well as traditional off-line media such as radio and
direct mail print to convey to the business owner/operator and the consumer the
services we offer. We also plan to use direct telemarketing and facsimile
services to inform the business owner/operator and consumer of our services.
Accordingly, we will incur increased costs associated with advertising our
services to business operators and consumers.

SEAMLESS PEER 2 PEER, INC.

Seamless Peer 2 Peer, Inc. hired a development team to create its proprietary,
patent pending Phenom(R) Encryption Software. Phenom(R) software allows secure
communications over Wi-Fi, local area network ("LAN"), and wide area networks
("WAN") with its Virtual Internet Extranet Network technology. Phenom(R)
software provides secure peer mail, chat, file transfer, and remote PC access in
a two-megabyte download. Phenom(R) software's application protocol interface
("API") also supports voice over Internet protocol ("VoIP"), video voice
conferencing, and white boarding. We anticipate that Phenom(R) will be available
in 2008.

Seamless Peer 2 Peer, Inc. also hired a development team to create its first
encrypted secure peer to peer social network, Freek2Freek (WWW.FREEK2FREEK.COM).
Freek2Freek will be a secure social web network developed by using the Phenom
secure backbone for Freek2Freek. Freek2Freek is being built to be safe and
secure for users, which will have a significant advantage over non-secure social
networks that potentially risk users' identities and personal information.
Seamless Peer 2 Peer expects to launch Freek2Freek in 2008.

Upon launch, Freek2Freek will offer high levels of security and user
verification because its patented backbone is based upon Seamless Peer 2 Peer's
Phenom Secure Private Network layer technology, which allows transmission of
data to peers over conventional IP networks in such a way that information can
be shared among peers even if one or more are behind proxies, firewalls, or
network address translations (also known as "NATs" Network Masquerading, Native
Address Translation and IP Masquerading). Freek2Freek will be an online
community where everyone who interacts will be authenticated and all
communications will be encrypted.

Seamless Peer 2 Peer is concentrating on establishing a client base for its
software products.

The Peer 2 Peer potential client base includes the following entities and end
users:

        o        Government agencies: Providing government agencies secure
                 direct permission based access to other government agencies in
                 a server-less "dark-net" environment. Government agencies can
                 share information in a highly secure, highly encrypted "FIPS
                 142" compliant secure networking and collaborative dark-net,
                 allowing direct



                                      3



                 communication and information sharing in a Peer-2-Peersetting.
                 Communications between field operatives and home-based peers
                 can be accommodated from personal computer to hand held
                 device.

        o        Corporations: Providing corporations with an enhanced
                 government standard encrypted communication and collaboration
                 resource tool. Acting as a VPN client with communication
                 (Voice over Internet protocol, video conferencing, chat and
                 peer mail), as well as a suite of collaborative tools (white
                 boarding, application sharing, and cooperative web surfing,
                 and file sharing), companies can enhance work flow and
                 productivity of their remote and mobile workforce in a secured
                 and controlled work environment.

        o        Technology and network consultants: Providing their customer
                 base with cost effective, secure and feature rich networking
                 solutions. The Phenom client and server provide end-to-end
                 communication and collaboration tools for consultants looking
                 for cost effective solutions for their customer base.

        o        ISP, WISP, Wi-Fi providers: Can license, white label and
                 resell the technology by offering secure network keys to their
                 small business client base as well as create individual
                 networks for their enterprise business clientele.
                 Additionally, ISP, WISP and Wi-Fi providers can add a secure
                 web surfing feature to their end user customer base as a value
                 added service. Additionally, by providing Voice over IP and
                 video conferencing the ISP's will see additional value added
                 services that they can offer their customer base to enhance
                 their bottom lines.

o        File sharing companies: Can license the technology and white label it
        as their own to provide the most seamless and easily integrated file
        sharing mechanism available in the Peer-2-Peer space today.

COMPETITION

The market for Internet based software services is highly competitive. There are
substantial barriers for entry into the software internet service market.

Our competition for Seamless Peer 2 Peer's products includes, but is not limited
to, the following companies.

    o        Grouper Networks, Inc.
    o        Citrix Systems, Inc.
    o        Peerme, Inc.
    o        3AM Labs, Inc.
    o        Amteus Ltd.
    o        Eclectic Endeavours, Inc.
    o        Seclarity, Inc.
    o        Securit-e-doc, Inc.


                                      4



MARKETING PLAN

Seamless Peer 2 Peer's marketing plan incorporates four basic distribution
channels:

        1.       Direct sales that target vertical market networks for example:
                 healthcare providers, government agencies, defense
                 contractors, military, non-profits, etc. The direct sales
                 staff will focus on the domestic market.

        2.       OEM distribution sales to private networks as well as general
                 users. Furthermore, they will be able to bundle the
                 SeamlessP2P client software for handheld devices, PDA's,
                 desktop computers and laptops.

        3.       Affiliates, resellers and partners sales by offering the
                 Seamless product through Internet Service Providers (e.g.,
                 cable, DSL, etc.), networking and IT solution providers,
                 Internet business portals and wireless internet service
                 providers.

        4.       Internet/online users are able to download the program for
                 their daily Internet usage.

PROPRIETARY SOFTWARE

Seamless Peer 2 Peer is the developer of the proprietary (patent pending)
Phenom(R) Encryption Software. Phenom(R) Software allows secure communications
over Wi-Fi, local area network (LAN), and wide area networks (WAN) with its
Virtual Internet Extranet Network technology. Phenom(R) software provides secure
peer mail, chat, file transfer, and remote PC access in a two-megabyte download.
Phenom(R) software's application protocol interface (API) also supports voice
over internet protocol (VoIP), video voice conferencing, and white boarding.

SOCIAL NETWORKING

The Phenom(R) software client is an integral part of Seamless Peer-2-Peer's
social networking environment. Freek-2-Freek will be a secure place for teens
and the 18 to 34 demographic to share and communicate freely with their friends
and family. By providing permission based communications and closed friend
networks, users can be sure that their online social interactions are secure.

Users will have the freedom to control their web page and presence as well as
whom they do and do not want to interact with. Additional communications and
interactions will be enhanced utilizing the Phenom(R) client to incorporate
voice and video to its more traditional communication applications of chat and
e-mail. Additional functions and features will allow users to share content with
their peers utilizing the file sharing mechanism, as well as creating new and
original content for their personal web pages using the application sharing
tool, as well as the white boarding function.

Enhanced content, enhanced communication and enhanced security are the
differentiating factors between Freek-2-Freek and its current online
competitors. Freek-2-Freek intends to provide free to the user advertising
revenue driven content on the network to be shared freely between friends and
peers and secured with the Seamless Wi-Fi Digital Rights Management solution
better known as DRM. Using our DRM solution on the Freek-2-Freek network, we
will be able to monitor the flow of DRM encrypted content throughout the network
thus tracking file downloads and advertisement plays per file. DRM encrypted
files can be any downloadable file to a PC or

hand held device, these files include music files, video files, or document
files, files size is not an issue as full length feature films can be encrypted
as well. The DRM encrypted files will not be available for permanent download
but tethered to the content server and deleted after a certain amount of plays.
Number of plays will be determined by advertising dollars and costs incurred to
distribute content. Permanent downloads will be available when an end user
decides to purchase the movie, song or album that he or she wishes to own.

Fees are paid to Seamless from the subscriber and/or the network operator:

        1.       Subscribers will either pay a monthly fee if they are a
                 Seamless member and/or a per use fee if they are occasional
                 users.

        2.       Operators of a Wide Area Network (WAN) and/or a Local Area
                 Network (LAN) who want Seamless service then pay per month or
                 per year based upon the number of users that are part of the
                 network.

SEAMLESS INTERNET, INC.

Seamless Internet, Inc. offers hosting services for Seamless Peer 2 Peer and
Skyy-Fi clients and is not available for general public hosting services.
Seamless Internet, Inc. has contracted the manufacturing of the S-XGen (Seamless
neXt Generation) Pocket Personal Computer. The S-XGen has been fitted with a
20GB hard drive, 256Kb RAM and its dimensions are 6.5" X 3.8" X 1.125". It
includes a TFT Transflective Touch Screen viewable in sunlight, 802.11b/g and
Bluetooth connectivity, SD MMC and Compact Flash sockets, 2-USB 2.0 ports, and a
near full sized QWERTY folding keyboard, stereo speakers and inputs/outputs,
docking socket and tri-band cell phone communications.

Seamless Internet was originally created to provide in-house server solutions
for parent company Seamless Wi-Fi. The expansion of services was driven by
Seamless Wi-Fi's product and services growth.

Seamless Internet's Services were first expanded with Seamless Wi-Fi's
acquisition of the Peer 2 Peer Software and the creation of our Peer 2 Peer
subsidiary. Many of the clients acquiring the Phenom(R) software program did not
have the capability of properly securing their new sever, to either insure the
integrity of the software or be able to provide the technical support required
to support the software program.

Thus Seamless Internet was expanded and the acquisition of FMS NetCheck in
February 2006 allowed us to offer Web-monitoring for our clients as part of our
hosting services. These services were created to facilitate the eventual
implementation of Phenom(R) secure communications services for clients who do
not have Oracle-compatible equipment and do not wish to purchase their own
Oracle server. Creating our own high-security hosting facility provides the most
robust infrastructure possible to potential clients seeking secure network
services. We have clients that are interested in our products that do not have
the information security systems and hardware in place for fail-safe
implementations. Offering secure hosting services allows us to meet this
potential client demand while also giving us the ability to support our products
in the most efficient manner.


                                      5



In March 2006, we acquired the patent, development and marketing rights for the
ED.1 (Entertainment Device) minicomputer and communication device from Vercel
Corporation. The ED.1 is an ergonomically-designed portable entertainment device
and full-fledged computer boasting a form factor of 5" x 4" x 2" and weighing
less than 12 ounces. When closed, it offers an MP3 player, a gaming device when
opened, and a full-fledged internet communications device and computer when the
integrated keyboard is unfolded. The keyboard offers almost full-size keyboard
functionality and ergonomics.

Our new unit, while maintaining its small size, has been specifically designed
with a fully deployable folding and removable keyboard for data manipulation and
navigation allowing the user easy access. It has a 4 inch high definition screen
that provides a clear and crisp screen display. The unit is extremely versatile
and the present plan for the first version has, among it many capabilities, the
ability to be used as a completely loaded Wireless working computer. It is "Blue
Tooth" enabled and can be used as an entertainment and gaming unit. The unit
will also contain the Seamless patent-pending encryption software incorporated
into its system to protect sensitive information.

The new unit's size places it in between the "Palm and the Lap Top" size
category - in the Ultra Mobile Personal Computer (UMPC) class of minicomputers
and as such, it can be transported easily because it readily fits into a pocket
or a purse, or be easily carried by hand. It does not require a carrying case,
and despite its small size, it is designed so that its batteries can last up to
eight hours.

Seamless Internet named its mobile minicomputer the S-XGen (for Seamless Next
Generation) Mobile Computing and Communications Device. In addition, we have
been undertaking an aggressive redesign and are preparing for volume
manufacturing of the device. We have also expanded the features and
functionality of the S-XGen, including increasing standard internal memory from
128 Kb to 256 Kb, integrating an onboard camera and also more gaming buttons to
facilitate gaming interactivity.

COMPETITION

Management feels that even though there are over 1,000 different devices that
fall within the mini-mobile, communication, location (GPS), and computer, none
have an almost full size keyboard and comparable feature set. However, indirect
competitors include Nokia, Sony, T-Mobile, and Verizon, among others.


MARKETING STRATEGY

We are first offering the S-XGen as a small, easy to carry, wireless "Working
Computer" with a wide range of capabilities, targeting the business community,
travelers, and users in need of a small easy to carry and readily accessible
computer (for example, our product will offer great benefits for mobile sales
force, first responders, etc.).

The S-XGen will also be offered with the capability of being used for
entertainment and gaming


                                      6



purposes with the Transflective LCD with integrated touch screen providing the
user with high resolution picture viewing capability. This will address and
target the gaming and entertainment user market.

Pre-market test units are being Beta tested and reviewed now. We expect that we
will be manufacturing units by the end of 2007

SOURCES AND AVAILABILITY OF RAW MATERIAL AND PRINCIPAL SUPPLIERS

Raw material used for molded parts and circuit boards are readily available with
limited lead time. Parts such as CPUs and hard drives are also standard
productions parts and are readily available. However some of our parts do
require an eight week lead time. These parts are also available through many
suppliers.

DEPENDENCE ON MAJOR CUSTOMERS

We are not dependent on any one customer for a substantial portion of our sales
of any product or service.

INTELLECTUAL PROPERTY

We own the following registered trademarks:

    o        Phenom
    o        Seamless P2P
    o        Seamless Peer2Peer
    o        !
    o        PP

We have applied for trademark registration for the following marks:

    o        Freek2Freek
    o        Phenom Mobile
    o        S-SIB
    o        Seamless SIB
    o        Get SINB
    o        Get Phenom
    o        SINB
    o        SXGEN

We have patents pending for the:

  o        Phenom(R) Encryption Software
  o        S-SIB (TM)
  o        Various accessories for the S-XGen (TM)


                                      7



GOVERNMENT APPROVAL

Regulation of the following areas could impact our operations:

REGULATION OF THE INTERNET

To date, there has been some regulation of content providers on the Internet and
this regulation may increase due to the increasing popularity and use of the
Internet by broad segments of the population. It is possible that new laws and
regulations may be passed and/or adopted with respect to the Internet pertaining
to access, content of Web sites, privacy, pricing, encryption standards,
consumer protection, electronic commerce, taxation, and copyright infringement
and other intellectual property issues. No one is able to predict the effect, if
any, what future regulatory changes or developments may have on the demand for
Internet services, access and/or other Internet-related activities. Changes in
the regulatory environment relating to the Internet access industry may include
the enactment of laws and/or regulations that directly or indirectly affect the
costs of telecommunications and Internet access. These changes could increase
competition from national and/or regional telephone companies and other Internet
access providers. These changes could adversely affect our business, operating
results and financial condition.

REGULATION OF INTERNET ACCESS

We provide Internet service by using Internet access provided by
telecommunications carriers. Terms, conditions and prices for telecommunications
services are subject to economic regulation by state and federal agencies.
Internet access providers are not currently subject to direct economic
regulation by the FCC or any state regulatory body, other than the type and
scope of regulation that is applicable to businesses generally. In April 1998,
the FCC reaffirmed that Internet access providers should be classified as
unregulated "information service providers" rather than regulated
"telecommunications providers" under the terms of the Federal Telecommunications
Act of 1996. Currently, we are not subject to federal regulations applicable to
telephone companies and similar carriers because the Internet access services
offered are provided by third-party telecommunications providers. To date, no
state has attempted to exercise economic regulation over Internet service
providers.

REGULATION OF WIRELESS ACCESS

Wi-Fi Internet access products primarily operate in unregulated frequencies. Due
to the growth of Wi-Fi and the corresponding increased use within this
bandwidth, there may be regulation in the near future. The regulation could
impact broadcast range and use within given locations; however, at present the
broadcast frequency remains unregulated.

REGULATION OF PEER 2 PEER COMMUNICATION

The courts and the legislature have recently become active in the peer 2 peer
communications space, which can negatively impact us due to our acquisition of
peer 2 peer software technology.



                                      8



If the legislatures and court determine that this type of communications
violates existing laws and/or new laws may be proposed that could limit and/or
prohibit this type of communication then this could have a negative impact on
our ability to generate revenue from this type of communications.

REGULATION OF COMMUNICATION DEVICES

Communications industry regulation changes rapidly, and such changes could
adversely impact us. The following discussion describes some of the major
communications-related regulations that affect us, but numerous other
substantive areas of regulation not discussed here also may influence our
business.

Communications services are regulated to varying degrees at the federal level by
the Federal Communications Commission ("FCC") and at the state level by public
utilities commissions ("PUCs"). Seamless's suite of wireless broadband products
and services is subject to federal regulation in a number of areas, including
the licensing and use of spectrum, and the technical parameters, certification,
marketing, operation and disposition of wireless devices. Applicable consumer
protection regulations also are enforced at the federal and state levels. his
does not describe all present and proposed federal, state and local legislation
and regulations affecting the communications industry. Some legislation and
regulations are the subject of ongoing judicial proceedings, legislative
hearings and administrative proceedings that could change the manner in which
our industry is regulated and the manner in which we operate. We cannot predict
the outcome of any of these matters or their potential impact on our business
and as such cannot predict potential risks in our development efforts in these
areas.

RESEARCH AND DEVELOPMENT COSTS

We spent $1,274,000 on research and development during the fiscal year ended
June 30, 2007 as compared to $516,000 spent on research and development during
the year ended June 30, 2006.

Since the end of the fiscal year June 30, 2007 to date, we have spent an
additional $447,000 on research and development.

EMPLOYEES

As of the date hereof, we have seven full-time employees and ten independent
contractors. We hire independent contractors for sales personnel, technical
support and installation expertise. We have no collective bargaining agreements
with our employees. We believe that our employee relationships are satisfactory.

ITEM 2.  DESCRIPTION OF PROPERTY

The following locations are the principal places of business of the Company,
some of the Companies share facilities:



                     
800 N. Rainbow Blvd., Ste 208  3155 E. Patrick Lane Ste 1 2050  Russett Way, Ste 338,
Las Vegas, Nevada 89107        Las Vegas, Nevada 89120          Carson City, Nevada 89703



                                      9



We rent some of the locations on a month-to-month basis and it leases, through
its subsidiary, other locations. The monthly office rental and lease agreements
(which expire on August 31, 2010) are listed below. Rental and lease expense
under these agreements for the years ended June 30, 2007 and 2006 were $47,222
and $35,136, respectively. Commitments under the current monthly rentals and
operating leases are as follows:

        Fiscal year ending June 30:

Rental                              Leases
Monthly  $800                       2008     $ 53,687
                                   2009       50,340
                                   2010       50,340


ITEM 3.  LEGAL PROCEEDINGS

On March 30, 2006, the Superior Court of the State of California, County of
Orange, entered a judgment against us and other defendants, jointly and
severally, in the total amount of $452,714.79 in the matter of Globalist
Internet Technologies, Inc. vs. Iron Horse Holdings, Inc., et al.

To the best knowledge of our management, there are no legal proceedings pending
or threatened against us.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

                                    PART II

ITEM 5.  MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

MARKET FOR COMMON EQUITY

Our common stock is currently quoted on the Over-The-Counter Bulletin Board
under the Symbol "SLWF." Set forth below is the trading history of our common
stock without retail mark-up, mark-down or commissions:

                                                    HIGH               LOW
2005
    Third Quarter..........................         0.63              0.30
    Fourth Quarter.........................         0.40            0.0039

2006
    First Quarter..........................         0.14             0.011
    Second Quarter.........................        0.155            0.0251
    Third Quarter..........................        0.048            0.0245


                                      10



    Fourth Quarter.........................        0.026            0.0039


2007
    First Quarter..........................      0.00319           0.00162
    Second Quarter.........................       0.0015          0.000625

On October 3, 2007, the closing sale price was $0.0003.

The above quotations are inter-dealer quotations from market makers of our
common stock. At certain times the actual closing or opening quotations may not
represent actual trades that took place.

HOLDERS

As of October 4, 2007, there were approximately 163 shareholders holding
certificated securities and approximately 70,000 shareholders currently listed
in the Depository Trust Company as holding shares in brokerage accounts.

DIVIDENDS

We have paid no cash dividends on our common stock since inception and do not
anticipate or contemplate paying cash dividends in the foreseeable future.

RECENT SALES OF UNREGISTERED SECURITIES

NONE.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS.

The following discussion and analysis should be read in conjunction with our
financial statements, including the notes thereto, appearing elsewhere in this
Report.

THE FOLLOWING INFORMATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS OF OUR
MANAGEMENT. FORWARD-LOOKING STATEMENTS ARE STATEMENTS THAT ESTIMATE THE
HAPPENING OF FUTURE EVENTS AND ARE NOT BASED ON HISTORICAL FACT. FORWARD-LOOKING
STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, SUCH AS
"MAY," "COULD," "EXPECT," "ESTIMATE," "ANTICIPATE," "PLAN," "PREDICT,"
"PROBABLE," "POSSIBLE," "SHOULD," "CONTINUE," OR SIMILAR TERMS, VARIATIONS OF
THOSE TERMS OR THE NEGATIVE OF THOSE TERMS. THE FORWARD-LOOKING STATEMENTS
SPECIFIED IN THE FOLLOWING INFORMATION HAVE BEEN COMPILED BY OUR MANAGEMENT ON
THE BASIS OF ASSUMPTIONS MADE BY MANAGEMENT AND CONSIDERED BY MANAGEMENT TO BE
REASONABLE. OUR FUTURE OPERATING RESULTS, HOWEVER, ARE IMPOSSIBLE TO PREDICT AND
NO REPRESENTATION, GUARANTY, OR WARRANTY IS TO BE INFERRED FROM THOSE
FORWARD-LOOKING STATEMENTS.


                                      11



OVERVIEW

During the fiscal year ended June 30, 2007, Seamless Wi-Fi, Inc, through its
subsidiaries Seamless Skyy-Fi, Inc, Seamless Peer 2 Peer, Inc, and Seamless
Internet, Inc. Inc. was/and is in the process of developing products and
services to offer to the business community and consumers.

Seamless Skyy-Fi, Inc. has developed the Seamless Secure Internet Browsing
(S-SIB(TM)) software program for use by the consumer to access the Internet in a
secure Wi-Fi signal. S-SIB(TM) encrypts Wi-Fi transmissions signal based upon
RSA's government certified 256 bit AES encryption. Seamless Skyy-Fi, Inc.
released its proprietary S-SIB(TM) technology on August 15, 2007. Seamless
Skyy-Fi, Inc. also maintains 30 Wi-Fi locations at hotels and other locations.
Seamless Skyy-Fi, Inc. also provides 24/7 tech support for its Wi-Fi locations
and for the S-SIB(TM) software program.

Seamless Peer 2 Peer, Inc. is developing its proprietary, patent pending
Phenom(R) Encryption Software. Phenom(R) encrypts Peer 2 Peer communications
based upon RSA's government certified 256 bit AES encryption coupled with RSA's
Public Key Infrastructure flexible telecom data and voice transport solutions.

Phenom(R) software allows secure communications over Wi-Fi, local area network
("LAN"), and wide area networks ("WAN") with its Virtual Internet Extranet
Network technology. Phenom(R) software provides secure peer mail, chat, file
transfer, and remote PC access in a two-megabyte download. Phenom(R) software's
application protocol interface ("API") also supports voice over Internet
protocol ("VoIP"), video voice conferencing, and white boarding. We expect
Phenom(R) will be available in 2008.

Seamless Internet, Inc. provides an in-house server solution for the parent
company, Seamless Wi-Fi. Inc. The expansion of services in fiscal 2006 and 2007
includes supporting Seamless Peer 2 Peer, Inc. and Seamless Skyy-Fi, Inc. secure
software programs and its own software of FMS NetCheck. FMS allows Seamless
Internet, Inc. clients Website monitoring as part of our hosting services.

In March 2006, Seamless Internet, Inc. acquired the patent rights to a pocket
personal computer, and began a development program to make the pocket PC into a
mobile communication and computer device. Seamless Internet, Inc. named the
device the S-XGen and plans to begin manufacturing the S-XGen Mini-Mobile
Personal Computing and Communications device by the end of 2007 .


RESULTS OF OPERATIONS

The following table sets forth, for the years indicated, our selected financial
information:



                                                        June 30, 2007        June 30, 2006
                                                       ---------------      ---------------
                                                                     
Revenues                                                $        42,717      $        38,793
   Cost of revenues                                            165,580              115,070
                                                       ---------------      ---------------


                                      12





                                                                             
   Gross loss                                                 (122,863)             (76,277)
Cost and expenses:
   Selling, general and administration                         715,732              624,273
   Software development cost                                       -0-            1,795,369
    Technology development cost                                    -0-               38,552
   Financing fees                                              265,000              345,000
   Consulting                                                  598,932            1,446,351
   Legal                                                        86,988              291,445
   Office payroll                                              456,031                  -0-
   Write down of investments                                       -0-            1,345,384
   Bad debt expenses                                           105,437              229,265
   Depreciation and amortization                                31,749               12,344
                                                       ---------------      ---------------

Total                                                         2,259,869            6,127,983

Net loss from operations                                     (2,382,732)          (6,204,260)

   Adjustment of tax assessment                                    -0-              460,957
   Gain on liquidation of debt                               4,904,508                  -0-
   Interest income                                             143,130              111,093
   Interest expense                                           (291,535)          (1,388,335)
   Other income                                                836,298              652,630
Income (loss) before income taxes                             3,209,669           (6,367,915)

Net income (loss)                                       $     3,209,669      $    (6,367,915)
Net income (loss) per common share                      $         0.002      $        (0.048)
Weighted  average  basic and diluted
common shares outstanding                                 2,087,742,032          133,750,923



FISCAL YEAR ENDED JUNE 30, 2007 COMPARED TO FISCAL YEAR ENDED JUNE 30, 2006
(AUDITED)

Our revenues for the fiscal year ended June 30, 2007 of $42,717 is an increase
of 9% in revenue when compared with $38,793 in revenues for the fiscal year
ended June 30, 2006.

We had net income of $3,209,669 for the fiscal year ended June 30, 2007 as
compared to a net loss of ($6,367,915) for the year ended June 30, 2006. This
increase in income is primarily due to income credit of $4,904,508 as payment in
full for loans and interest as per our loan satisfaction agreement with Ayuda
Funding, LLC.

COMPARISON BY SEGMENT

In accordance with SFAS No. 131, "Disclosure about Segments of an Enterprise and
Related Information," management has determined that there are three reportable
segments, such determination was based on the level at which executive
management reviews the results of operations in order to make decisions
regarding performance assessment and resource allocation.


                                      13



Certain general expenses related to advertising and marketing, information
systems, finance and administrative groups are not allocated to the operating
segments and are included in "other" in the reconciliation of operating income
reported below. The accounting policies of the segments are the same as those
described in the summary of significant accounting policies (Note 1).

Information on reportable segments is as follows:

                                Fiscal Year Ended   Fiscal Year Ended
                                  June 30, 2007       June 30, 2006
                                  -------------       -------------

Seamless Skyy-Fi Sales              $    41,229          $    38,793
Operating Expenses                  $   287,908          $   115,070
Seamless Peer 2 Peer Sales          $         0          $         0
Operating Expenses                  $    87,542          $ 2,128,765
Seamless Internet Sales             $     1,409          $         0
Operating Expenses                  $   552,846          $   146,042
Cost And Expenses                   $   885,658          $ 2,351,084
Other Net Income                    $ 4,386,862          $ 1,224,680
Other Expenses                      $   291,535          $ 5,241,511
Net Income (Loss)                   $ 3,209,669          $(6,367,915)


SEAMLESS SKYY-FI: The resultant loss for this segment for the fiscal year ended
June 2007 was ($246,679). This loss was due to expenses of expanding its tech
support and improving operations. The income increased to $41,229 as compared to
$38,793 for the prior fiscal year ended 2006. Operating expenses also increased
to $287,908 as compared to $115,070 for the prior fiscal year. The increased
expenses are because several locations were changed and 24/7 tech support
incorporated.

SEAMLESS PEER 2 PEER SOFTWARE: The resultant loss for this segment for the
fiscal year ended June 2007 was ($87,542). This loss was due to reduced
expenditures in the development of the PHENOM (R) Since the software program is
not available to market, no revenue has been generated by the product for fiscal
years ended 2007 and 2006, respectively. Operating expenses for 2007 also
decreased to $87,542 as compared to $2,128,765 for the prior fiscal year. The
decreased expenses are because PHENOM(R) has been in beta testing for most of
this fiscal year with expectation of deployment in 2008.

SEAMLESS INTERNET PRODUCTS AND SERVICES: The resultant loss for this segment for
the fiscal year ended June 2007 was ($551,437). This loss was due to expenses
developing the S-XGen(TM) and improving the server array at our co-location.
Income increased to $1,409 as compared to no income for the prior fiscal year
ended 2006. Operating expenses also increased to $552,846 as compared to
$146,042 for the prior fiscal year. The increased expenses are primarily due to
the development of the S-XGen The S-XGen is a Mini-Mobile Personal Computing and
Communications device which we expect will be available by the end of 2007 .

OTHER: For the fiscal year ended June 30, 2007, this segment received income
credit $4,904,508 as payment in full for loans and interest totaling $4,904,508
as per our loan satisfaction agreement with Ayuda Funding, LLC. The agreement
provided that we would transfer 1,000,000 shares of 1st Global Financial
Corporation common stock and 500,000 shares of DLR



                                      14



Funding, Inc. common stock owned by us to Ayuda Funding LLC. The losses of
($6,367,915) for the June 30, 2006 fiscal year were due to the start-up
operations and development cost of our product lines and services and increased
operations costs.

LIQUIDITY AND CAPITAL RESOURCES

Net cash used by operations activities of $2,046,002 for the year ended June 30,
2007 decreased by $1,067,121 compared to the net cash used in operational
activities of $3,113,123 for the year ended June 30, 2006. The decreases in net
cash were primarily from the reduction in expenditures required to develop our
Peer 2 Peer software, maintain our Internet operations, develop its mini
computer and support our operations.

CRITICAL ACCOUNTING POLICIES

The Securities and Exchange Commission issued Financial Reporting Release No.
60, "Cautionary Advice Regarding Disclosure About Critical Accounting Policies,"
or FRR 60, suggesting that companies provide additional disclosure and
commentary on their most critical accounting policies. The most critical
accounting policies are the ones that are most important to the portrayal of a
company's financial condition and operating results, and require management to
make its most difficult and subjective judgments, often as a result of the need
to make estimates of matters that are inherently uncertain. Our management
believes that of the significant accounting policies used in the preparation of
the consolidated financial statements (see Note B to the Financial Statements),
the following are critical accounting policies, which may involve a higher
degree of judgment, complexity and estimates. The methods, estimates and
judgments we use in applying these most critical accounting policies have a
significant impact on the results reported in our financial statements.

OFF BALANCE SHEET ARRANGEMENTS

We have not entered into any off balance sheet arrangements that have, or are
reasonably likely to have a current or future effect on our financial condition,
changes in financial condition, revenues or expenses, result of operations,
liquidity, capital expenditure, or capital resources, which would be considered
material to investors.

USE OF ESTIMATES

The preparation of the consolidated financial statements are in conformity with
United States generally accepted accounting principles require us to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the period. Actual results could differ from those estimates.

STOCK-BASED COMPENSATION ARRANGEMENTS

We issue shares of common stock to various individuals and entities for certain
management, legal, consulting and marketing services. These issuances are valued
at the fair market value of the service provided and the number of shares issued
is determined, based upon the closing price



                                      15



of our common stock on the date of each respective transaction. These
transactions are reflected as a component of general and administrative expenses
in the accompanying statement of operations.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In December 2004, the Financial Accounting Standards Board (FASB) issued SFAS
NO. 123(R), "Share-Based Payment," which revises SFAS No. 123. SFAS No. 123(R)
requires all share-based payments to employees, including grants of employee
stock options, to be recognized as compensation expenses upon based their fair
value. Effective January 1, 2003, we adopted the fair value recognition
provision of SFAS No. 123. We plan to adopt SFAS No. 123(R) effective July 1,
2005, using the modified prospective method and do not expect any impact on our
results of operations or financial position.

In December, the FASB issued SFAS No 153, Exchange of Nonmonetary Assets, an
amendment of APB No. 29, Accounting for Nonmonetary Transactions exchanges of
similar productive assets and replaces it withy a general exception for
exchanges of nonmonetary assets that do not have commercial substance. A
nonmonetary exchange has commercial substance if the future cash flows of the
entity are expected to change significantly as a result of the exchange. We are
required to adopt FAS 153, on a prospective basis, for nonmonetary exchanges
beginning June 15, 2005 the adoption of FAS 153 did not have any impact on our
financial condition, results of operations and cash flows.

In December 2003, the Securities and Exchange Commission released Staff
Accounting Bulletin No. 104, "Revenue Recognition" ("SAB 104"). SAB 104
clarifies existing guidance regarding revenue recognition. Our adoption of SAB
104 did not have an impact on our consolidated results of operations, financial
position or cash flows.

INFLATION

The moderate rate of inflation over the past few years has had an insignificant
impact on our sales and results of operations during the period.

CAPITAL EXPENDITURES

There were no capital expenditures during the 2007 fiscal year.

NET OPERATING LOSS CARRY FORWARDS

No provision for income taxes has been recorded in the accompanying financial
statements as a result of our net operating losses. We have unused tax loss
carry forwards of approximately $18,687,528 to offset future taxable income.
Such carry forwards expire in the years beginning 2021.

The net income of $3,209,669 for fiscal year ended June 30, 2007 is offset by
the tax loss carry forwards of the previous fiscal year of June 30, 2006 which
was $21,897,197. We have reduced the deferred tax asset resulting from our tax
loss carry forwards by a valuation allowance of an



                                      16



equal amount as the realization of the deferred tax asset is uncertain. The net
change in the deferred tax asset and valuation allowance from July 1, 2006 to
June 30, 2007 was a decrease of approximately $3,000,000.

ITEM 7.  FINANCIAL STATEMENTS.

The financial statements required to be filed pursuant to this Item 7 begin on
page F-1 of this report.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.

None.

ITEM 8A  CONTROLS AND PROCEDURES

Our Chief Executive Officer and Chief Financial Officer (the "Certifying
Officers") are responsible for establishing and maintaining our disclosure
controls and procedures. The Certifying Officers have designed such disclosure
controls and procedures to ensure that material information is made known to
them, particularly during the period in which this report was prepared. The
Certifying Officers have evaluated the effectiveness of our disclosure controls
and procedures as of the end of the period covered by this report and believe
that our disclosure controls and procedures are effective based on the required
evaluation. During the period covered by this report, there were no changes in
internal controls that materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting.

ITEM 8B  OTHER INFORMATION

On October 11, 2007, the Board of Directors elected Albert Reda to serve as
corporate Secretary, effective immediately, until the next annual meeting of the
Board of Directors and until his successor is elected and qualified.

                                   PART III

ITEM 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
        COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.

DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL PERSONS

Our directors and executive officers are as follows:

NAME               AGE              POSITION

Albert R. Reda     62               Director, Chief Executive Officer, Chief
                                   Financial Officer, Secretary

Matt Sebal         37               Director


                                      17



John Domerego      63               Director

ALBERT R. REDA, CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, SECRETARY AND
DIRECTOR. Mr. Reda joined us in November 1998. From 1996 through 1998, he was
employed with CRT Corporation as Vice President in charge of production for
manufacturing frozen food products. For the period of 1994 to 1995, Mr. Reda was
self-employed in the financial lending area, buying and selling loans between
individuals and institutions. Mr. Reda received his Bachelor of Science Degree
from California State University, Long Beach, with a major in engineering. Mr.
Reda is also a director of DLR Funding, Inc, Carbon Jungle, Inc. and of 1st
Global Debit Cash Card, Inc.

MATT SEBAL, DIRECTOR. Mr. Sebal became one of our directors in October 2005.
Since January 2002, he has been serving as President and Director of 51st State
Systems, Inc. which provides technology and consulting services in Vancouver, BC
Canada. From May 2002 and continuing through the present, Mr. Sebal has served
as President and as a Director of DCM Enterprises, Inc., a management and
investment holding company. From October, 2001 through the present, he has
served as Secretary and as a Director of Hosting Site Networks, Inc., a provider
of Internet services including web hosting, web consulting, and electronic mail
services. From June 2000 to January 2003, Mr. Sebal held one or more of the
following the positions with Return Assured Incorporated: Secretary, President,
Chairman and CEO, and DirectoR. Return Assured Incorporated was involved with
enabling e-retail transactions. From November 2000 to October 2003, Mr. Sebal
served as a Director of Mindfuleye, Inc., which developed software for licensing
to the investment community. Mr. Sebal holds a baccalaureate degree in Political
Science from the University of Western Ontario, Canada.


JOHN DOMEREGO, DIRECTOR. Mr. Domerego has been a Director of Seamless Wi-Fi,
Inc. since October 2005 and President of Seamless Internet Inc. since February
2005. Mr. Domerego was previously involved in the development, designing,
engineering and erection of co-generation and power generating facilities both
as an employee of Raytheon Engineering and self-employed as an associate of
Malcolm Jones Associates, an engineering company where he managed multi-million
dollar projects from conception to completion. Mr. Domerego also has 20 years
experience in the pulp and paper industry where he was employed and performed as
chief engineer and eventually as general manager. He was responsible for all
facets of the industry involving the successful operation of paper mills and
facilities. Mr. Domerego has a Bachelor of Science degree in Mechanical
Engineering.

Directors serve until the next annual meeting or until their successors are
qualified and elected. Officers serve at the discretion of the Board of
Directors.

COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires our
directors and certain officers, as well as persons who own more than 10% of a
registered class of our equity securities, ("Reporting Persons") to file reports
of ownership and changes in ownership on Forms 3, 4 and 5 with the Securities
and Exchange Commission. The following Reporting Persons have not complied on a
timely basis with all filing requirements applicable to them:


                                      18



        o        Mildred Carroll, Secretary, failed to file a Form 4 disclosing
                 her change in ownership from 520,000 shares of common stock to
                 420,006 shares of common stock during our last fiscal year;
        o        Matt Sebal, Director, failed to file a Form 4 disclosing his
                 change in ownership from 2,700,000 shares of common stock to
                 5,100,000 shares of common stock during our last fiscal year;
                 and
        o        John Demerego, Director, was delinquent in filing a Form 4
                 disclosing his change in ownership from 2,700,000 shares of
                 common stock to 5,100,000 shares of common stock during our
                 last fiscal year.

ITEM 10.     EXECUTIVE COMPENSATION.

SUMMARY COMPENSATION TABLE

Set forth below is a summary of compensation for our principal executive officer
and our two most highly compensated officers other than our principal executive
officer (collectively, the "named executive officers") for our last two fiscal
years. There have been no annuity, pension or retirement benefits ever paid to
our officers, directors or employees.

With the exception of reimbursement of expenses incurred by our named executive
officers during the scope of their employment and unless expressly stated
otherwise in a footnote below, none of the named executive officers received
other compensation, perquisites and/or personal benefits in excess of $10,000.



==================================================
Name and                                                                         Non-Equity
Principal                       Salary ($)  Bonus     Stock        Option        Incentive      All Other      Total
Position                Year                  ($)    Awards ($)    Awards           Plan         Compen-        ($)
                                                                     ($)      Compensation      sation
                                                                                   ($)            (s)
--------------------------------------------------
                                                                                     
Albert R. Reda, CEO,    2007     $240,000      $0        $0            $0              $0            $0        $240,000
CFO, Secretary
(Principal Executive
Officer)
--------------------------------------------------
                       2006     $240,000      $0        $0            $0              $0            $0        $240,000
--------------------------------------------------
Mildred Carroll,      2007(1)    $54,000       $0        $0            $0              $0            $0         $54,000
Secretary
--------------------------------------------------
                       2006     $72,000       $0        $0            $0              $0            $0         $72,000
--------------------------------------------------


                          GRANTS OF PLAN-BASED AWARDS

We did not grant any plan-based awards during this fiscal year ended June 30,
2007.

                 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

The following table sets forth information for the named executive officers
regarding the number of shares and underlying shares both exercisable and
unexercisable stock options, as well as the exercise prices and expiration dates
thereof, as of June 30, 2007.

----------------------
(1) Resigned on April 11, 2007.


                                      19





                                                 Option Awards                                             Stock Awards
---------------- -------------------------------------------------- ----------------------------------
Name             Number of      Number of      Equity          Option    Option       Number of   Market      Equity      Equity
                securities     securities     Incentive       Exercise  Expiration   Shares of   Value of    Incentive   Incentive
                Underlying     Underlying     Plan Awards:    Price     Date         Units of    Shares      Plan        Plan
                Unexercised    Unexercised    Number of         ($)                  Stock       or Units    Awards:     Awards
                Options        Options        Securities                             that have   of Stock    Number of   Market
                  (#)           (#)           Underlying                             not vested    that      Unearned    or
              Exercisable     Unexercisable   Unexercised                               (#)      have not    Shares,     Payout
                                              Unearned                                           vested      Units or    Value of
                                              Options                                              ($)       other       Unearned
                                                 (#)                                                         rights      Shares,
                                                                                                             that        Units of
                                                                                                             have        other
                                                                                                             not         rights
                                                                                                             vested      that
                                                                                                               #         have not
                                                                                                                         vested
                                                                                                                           $
---------------- -------------- -------------- --------------- --------- ------------ ----------- ---------- ------------ ----------
                                                                                                 
Albert R.             -0-            -0-            -0-          $-0-        -0-         -0-         -0-         -0-         -0-
Reda, CEO,
CEO, Secretary
(Principal
Executive
Officer)

---------------- -------------- -------------- --------------- --------- ------------ ----------- ---------- ------------ ----------
Mildred               -0-            -0-            -0-          $-0-        -0-         -0-         -0-         -0-         -0-
Carroll,
Secretary
---------------- -------------- -------------- --------------- --------- ------------ ----------- ---------- ------------ ----------


EMPLOYMENT AGREEMENTS

On June 8, 2007, we entered into an Employment Agreement with Albert Reda as our
Chief Executive Officer. The Employment Agreement has a term of five years with
automatic one year renewals unless either party gives notice to the other at
least 30 days prior to the end of any term. The Employment Agreement provides
for an annual salary of $300,000, makes provision for salary increases subject
to profitability of the Company, and bonuses in the discretion of the Board of
Directors. The Employment Agreement provides for severance of the entire
remaining compensation payable for the remainder of any term of the Agreement in
the event of termination without cause.

COMPENSATION OF DIRECTORS

Our Directors do not receive any cash compensation, but are entitled to
reimbursement of their reasonable expenses incurred in attending directors'
meetings.

We do not have any audit, nominating, compensation or other committee of our
Board of Directors.



                                      20



ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS.

The following table sets forth certain information regarding our shares of
outstanding common stock beneficially owned as of the date hereof by (i) each of
our directors and executive officers, (ii) all directors and executive officers
as a group, and (iii) each other person who is known by us to own beneficially
more than 5% of our common stock based upon 6,841,422,154 issued shares of
common stock.



==================================================
Name and Address of Beneficial Owners(2)                                  Amount and Nature of        Percent
                                                                         Beneficial Ownership    Ownership(3)
--------------------------------------------------
                                                                                                 
Albert R. Reda, CEO, CFO, Secretary, Director                                 1,026,455,000(4)           13.1%
--------------------------------------------------
Matt Sebal, Director                                                              5,100,000                *
--------------------------------------------------
John Domerego, Director                                                           5,100,000                *
--------------------------------------------------
All executive officers and directors as a group (four persons)
                                                                             1,036,655,000             13.2%
==================================================

*Less than 1%.


----------
(1) C/o our address, 800 N. Rainbow Blvd., Suite 200, Las Vegas, NV 89109,
unless otherwise noted

(2) Except as otherwise indicated, we believe that the beneficial owners of
Common Stock listed above, based on information furnished by such owners, have
sole investment and voting power with respect to such shares, subject to
community property laws where applicable. Beneficial ownership is determined in
accordance with the rules of the SEC and generally includes voting or investment
power with respect to securities. Shares of common stock subject to options or
warrants currently exercisable, or exercisable within 60 days, are deemed
outstanding for purposes of computing the percentage of the person holding such
options or warrants, but are not deemed outstanding for purposes of computing
the percentage of any other person.

(3) Includes 56,250 shares of preferred stock held by the Reda Family Trust
convertible into 562,500,000 shares of common stock; 2,965,000 shares of common
stock held by ARR, LLC; and 45,924 shares of preferred stock held by
ARR, LLC convertible into 459,240,000 shares of common stock.


                                      21





ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
        INDEPENDENCE.

None.

ITEM 13. EXHIBITS

        3.1      Articles of Incorporation, dated December 4, 1998(1)
        3.2      Certificate of Amendment of Certificate of Incorporation,
                 dated February 17, 1999(2)
        3.3      Certificate of Amendment of Articles of Incorporation, dated
                 June 30, 1999(1)
        3.4      Certificate of Amendment of Articles of Incorporation, dated
                 December 22, 1999(3)
        3.5      Certificate of Amendment of Articles of Incorporation, dated
                 February 9, 2000(3)
        3.6      Certificate of Designation, Number, Powers, Preferences and
                 Other Rights and Qualifications, Limitations, Restrictions and
                 Other Characteristics of Series "C" Preferred Stock, dated
                 September 30, 2004(4)
        3.7      Bylaws, dated June 1, 1999(5)
        10.1     Form of Location Provider Agreement(5)
        10.2     Asset Purchase Agreement between Seamless P2P, LLC and
                 Seamless Peer 2 Peer, Inc., dated January 18, 2005(6)
        10.3     Promissory Note and Security Agreement from 1st Global
                 Financial Corporation, dated July 14, 2006(7)
        10.4     Revolving Line of Credit Agreement with DLR Funding, Inc.,
                 dated January 15, 2007(7)
        10.5     Secured Promissory Note Payable in Agreed Installments and
                 Secured Term Note, dated October 1, 2006(7)
        10.6     Loan Agreement with Ayuda Funding Corp., dated October 26,
                 2006
        10.7     OEM Mobility License Agreement with Microsoft Licensing, GP,
                 dated May 22, 2007
        10.8     Microsoft Services OEM Foundation Service Agreement -
                 Non-Standard, dated June 9, 2007
        10.9     Loan Satisfaction Agreement with Ayuda Funding Corp. dated
                 June 7, 2007
        10.10    Employment Agreement with Albert Reda, dated June 8, 2007
        14       Code of Business Conduct and Ethics (8)
        21       Subsidiaries

----------
(1) Incorporated by reference from our Quarterly Report on Form 10-QSB for the
quarterly period ended September 30, 1999, filed on December 1, 1999.

(2) Incorporated by reference from our Quarterly Report on Form 10-QSB for the
quarterly period ended March 31, 1999, filed on May 19, 1999.

(3) Incorporated by reference from our Quarterly Report on Form 10-QSB for the
quarterly period ended March 31, 2000, filed on May 22, 2000.

(4) Incorporated by reference from our Current Report on Form 8-K, filed on
October 4, 2004.

(5) Incorporated by reference from our Current Report on Form 8-K, filed on
October 7, 2004.

(6) Incorporated by reference from our Current Report on Form 8-K, filed on
January 19, 2005.

(7) Incorporated by reference from our Quarterly Report on Form 10-QSB for the
quarterly period ended December 31, 2006, filed on February 20, 2007.

(8) Incorporated by reference from our Annual Report on Form 10-KSB for the
fiscal year June 30, 2004, filed on November 12, 2004.


                                      22



        31.1     Certification of Chief Executive Officer Pursuant to the
                 Securities Exchange Act of 1934, Rules 13a-14 and 15d-14, as
                 adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                 2002

        31.2     Certification of Chief Financial Officer Pursuant to the
                 Securities Exchange Act of 1934, Rules 13a-14 and 15d-14, as
                 adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                 2002

        32       Certification pursuant to 18 U.S.C Section 1350, as adopted
                 pursuant to Section 906 of the Sarbanes Oxley Act of 2002

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

KEMPISTY & COMPANY, CPA'S ("KEMPISTY")

Kempisty was our independent auditor and examined our financial statements for
the fiscal years ending June 30, 2007 and June 30, 2006. Kempisty performed the
services listed below and was paid the fees listed below for the fiscal years
ended June 30, 2007 and June 30, 2006.

AUDIT FEES

Kempisty was paid aggregate fees of approximately $60,000 for the fiscal year
ended June 30, 2007 and approximately $40,000 for the fiscal year ended June 30,
2006 for professional services rendered for the audit of our annual financial
statements and for the reviews of the financial statements included in our
quarterly reports on Form 10-QSB during these fiscal years.

AUDIT RELATED FEES

Kempisty was not paid additional fees for either of the fiscal years ended June
30, 2007 or June 30, 2006 for assurance and related services reasonably related
to the performance of the audit or review of our financial statements.

TAX FEES

Kempisty was not paid additional fees for either of the fiscal year ended June
30, 2007 and June 30, 2006 for professional services rendered for tax
compliance, tax advice and tax planning during these fiscal years.

ALL OTHER FEES

Kempisty was not paid any other fees for professional services during the fiscal
years ended June 30, 2007 and June 30, 2006.

AUDIT COMMITTEE

We do not have an audit committee.


                                      23




                                  SIGNATURES


In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, duly
authorized.

                                         SEAMLESS WI-FI, INC.


DATED: October 12, 2007                   By: /s/ Albert R. Reda
                                             -----------------------
                                             Albert R. Reda
                                             Director, Chief Executive Officer,
                                             Chief Financial Officer, and
                                             Secretary (Principal Executive
                                             Officer, Principal Financial
                                             Officer and Principal Accounting
                                             Officer)



                                      24






                        Financial Index to be inserted




                                     F-1



            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors
Seamless Wi-Fi, Inc.


We have audited the accompanying consolidated balance sheet of Seamless Wi-Fi,
Inc. and Subsidiaries as of June 30, 2007 and the related statements of
operations, changes in stockholders' equity (deficit) and cash flows for each of
the years in the two year period ended June 30, 2007. These financial statements
are the responsibility of the Company's management. Our responsibility is to
express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). atementtpndards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Company is not required to
have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audit included consideration of internal control over
financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company's internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Seamless Wi-Fi, Inc. and
Subsidiaries at June 30, 2007 and the results of its' operations and its cash
flows for each of the years in the two year period ended June 30, 2007 in
conformity with accounting principles generally accepted in the United States of
America.

The accompanying financial statements have been prepared assuming that Seamless
Wi-Fi, Inc. and Subsidiaries will continue as a going concern. As more fully
described in Note 4, the Company has incurred operating losses since inception
and requires additional capital to continue operations. These conditions raise
substantial doubt about the Company's ability to continue as a going concern.
Management's plans regarding these matters are described in Note 2. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.

/s/ Kempisty & Company CPAs, P.C.
Kempisty & Company
Certified Public Accountants PC
New York, New York
October 12, 2007



                                     F-2







                                        SEAMLESS WI-FI, INC.
                                F/K/A ALPHA WIRELESS BROADBAND, INC.
                                     CONSOLIDATED BALANCE SHEET


                                                                                      June 30, 2007
                                                                                       ------------
                                                                                             
ASSETS

Current assets
    Cash                                                                               $     15,181
    Accounts receivable                                                                     124,077
    Accrued interest receivable                                                             236,132
                                                                                       ------------

    Total current assets                                                                    375,390


Property and equipment (net of accumulated depreciation $44,093)                              51,158
Technology                                                                                 1,968,991
Employee advance                                                                              22,319
Notes receivable - related parties (net of allowance $334,703)                             2,493,153
Restricted cash                                                                               75,000
Security deposit                                                                               6,600
                                                                                       ------------

       TOTAL ASSETS                                                                    $  4,992,611
                                                                                       ============

                 LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
    Accounts payable                                                                   $    239,226
    Payroll taxes                                                                            96,706
    Judgments payable                                                                       361,054
    Other current liabilities                                                               828,000
    Investment payable                                                                       50,000
                                                                                       ------------

Total current liabilities                                                                  1,574,986

Stockholders' equity
Convertible Preferred A stock, par value $0.001, 10,000,000 shares authorized,
    498,914 shares issued and outstanding                                                       498
Convertible Preferred B stock, par value $0.001, 10,000,000 shares authorized,
    0 shares issued and outstanding                                                            --
Convertible Preferred C stock, par value $1.00, 5,000,000 shares authorized,
    300,000 shares issued and outstanding                                                   300,000
Common stock, par value $0.001, 11,000,000,000 shares authorized,
    4,847,202,154 shares issued and outstanding                                           4,847,201
Additional paid-in capital                                                                17,057,454
Accumulated deficit                                                                      (18,687,528)
                                                                                       ------------

       Total stockholders' equity                                                         3,517,625

Less: Treasury stock at cost                                                                 100,000
                                                                                       ------------

       Adjusted stockholders' equity                                                      3,417,625
                                                                                       ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                              $  4,992,611
                                                                                       ============




  THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

                                                F-3






                                        SEAMLESS WI-FI, INC.
                                f/k/a ALPHA WIRELESS BROADBAND, INC.
                               CONSOLIDATED STATEMENTS OF OPERATIONS


                                                             June 30,
                                                               2007                    2006
                                                         ---------------           ---------------
                                                                                         
Revenues                                                  $        42,717           $        38,793
Cost of revenues                                                  165,580                   115,070
                                                         ---------------           ---------------

Gross Loss                                                       (122,863)                  (76,277)
                                                         ---------------           ---------------

Expenses:
 Selling, general and admin.                                     715,732                   624,273
 Software development costs                                         --                   1,795,369
 Technology development costs                                       --                      38,552
 Consulting                                                      598,932                 1,446,351
 Finance                                                         265,000                   345,000
 Legal                                                            86,988                   291,445
 Officer payroll                                                 456,031                      --
 Write down of investments                                          --                   1,345,384
 Bad Debt                                                        105,437                   229,265
 Depreciation and amortization                                    31,749                    12,344
                                                         ---------------           ---------------

         Total Expenses                                        2,259,869                 6,127,983
                                                         ---------------           ---------------

Net loss from operations                                       (2,382,732)               (6,204,260)

Other income/(expense)
   Adjustment of tax assessment                                     --                     460,957
   Gain on liquidation of debt                                 4,904,508                      --
   Interest income                                               143,130                   111,093
   Interest expense                                             (291,535)               (1,388,335)
   Other                                                         836,298                   652,630
                                                         ---------------           ---------------

Income/(Loss) before income taxes                               3,209,669                (6,367,915)
                                                         ---------------           ---------------

Income taxes (benefit) (note 7)                                      --                        --
                                                         ---------------           ---------------

Net Income/(Loss)                                               3,209,669                (6,367,915)
                                                         ===============           ===============

Basic and Diluted
 income/(loss) per common shares                         $          0.00           $         (0.05)
                                                         ===============           ===============

Weighted average basic and diluted common shares            2,087,742,032               133,750,923
                                                         ===============           ===============
           
            THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.






                                                F-4





                                        SEAMLESS WI-FI, INC
                                f/k/a ALPHA WIRELESS BROADBAND, INC.
                CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (DEFICIT)
                                  FOR THE YEAR ENDED JUNE 30, 2006


                                   Convertible Preferred Stock                 Common Stock
                              -----------------------------------------  --------------------------   Additional
                                 Shares        Shares                         ($0.001 Par Value)        Paid in      
                               a Par $.001   C Par $1.00      Amount        Shares        Amount        Capital      
                              ------------  -------------     ------        ------        ------        -------      

                                                                                               
Balance June 30, 2005                976,819      700,000  $    700,977     24,468,944  $    24,469  $    11,709,065  

Common stock issued for
Services                                                                     2,022,500        2,023          646,752  
                                                                                                                     
Preferred C stock issued for                     (300,000)     (300,000)     5,655,190        5,655          294,346  
SEAMLESS                                                                                                            
                                                                                                                     
Preferred C returned to Treasury                 (100,000)     (100,000)                                     100,000  

Common stock issued for                                                                                              
conversion of preferred A stock      (31,278)                       (32)   312,780,520      312,780        4,767,946  

Adjustments to equity                                                                                                
                                                                                                                     
Loss for fiscal year ended                                                                                            
June 30, 2006                   --------------------------------------------------

BALANCE JUNE 30, 2006                945,541      300,000  $    300,945    344,927,154  $   344,926  $    17,518,109  
                              ==================================================


[table continued]



                             
                             
                                   Accumulated       Treasury
                                     Deficit           Stock          Total
                                     -------           -----          -----

                                                                     
Balance June 30, 2005           $     (15,817,276) $           -  $    (3,382,765)

Common stock issued for
Services                                                                  648,775
                                                                               -
Preferred C stock issued for                                                    0
SEAMLESS                                                                       -
                                                                               -
Preferred C returned to Treasury                         100,000         (100,000)

Common stock issued for                                                         -
conversion of preferred A stock                                         5,080,694

Adjustments to equity                     287,994                         287,994
                                                                               -
Loss for fiscal year ended             (6,367,915)                     (6,367,915)
June 30, 2006                  --------------------------------------------------

BALANCE JUNE 30, 2006           $     (21,897,197) $     100,000  $    (3,833,217)
                              ==================================================



  THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

                                                F-5







                CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (DEFICIT)
                            (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2007


                                      Convertible Preferred Stock                 Common Stock  
                                ---------------------------------------   ---------------------------------    Additional
                                    Shares      Shares                    ($0.001 Par Value)                    Paid in    
                                 a Par $.001 C Par $1.00      Amount           Shares            Amount         Capital    
                                ------------ -----------      ------           ------            ------         -------    
                                                                                                     
Balance June 30, 2006                 945,541      300,000 $    300,945         344,927,154 $       344,926 $    17,518,109

Common stock issued for Services                                                 36,005,000          36,005         124,045

Common stock issued for
conversion of Preferred A stock
to settle operating expenses             (500)                       (1)          5,000,000           5,000          19,000

Common stock issued for
conversion of preferred A stock      (446,127)                     (446)      4,461,270,000       4,461,270      (2,067,832)

Adjustment to additional paid
in capital                                                                                                        1,464,132

Income for the fiscal year ended
June 30, 2007                                                                                                              
                                --------------------------------------------------

BALANCE JUNE 30, 2007                 498,914      300,000 $    300,498       4,847,202,154  $    4,847,201 $    17,057,454
                                ==================================================


[table continued]




                               
                               
                                     Accumulated        Treasury
                                       Deficit           Stock           Total
                                       -------           -----           -----
                                                                       
Balance June 30, 2006            $       (21,897,197)$      100,000 $     (3,833,217)

Common stock issued for Services                                             160,050

Common stock issued for
conversion of Preferred A stock
to settle operating expenses                                                  24,000

Common stock issued for
conversion of preferred A stock                                            2,392,992

Adjustment to additional paid
in capital                                                                 1,464,132

Income for the fiscal year ended
June 30, 2007                              3,209,669                       3,209,669
                                --------------------------------------------------

BALANCE JUNE 30, 2007             $      (18,687,528)$      100,000        3,417,625
                                ==================================================



  THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.

                                                F-6






                                         SEAMLESS WI-FI, INC.
                                  f/k/a ALPHA WIRELESS BROADBAND, INC
                                 CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                                       June 30,
                                                                         2007                 2006
                                                                     -----------           -----------
                                                                                             
Cash flows used in operating activities
  Net loss from continuing operations                                $ 3,209,669           $(6,367,915)
  Adjustments to reconcile net loss to net cash
     used by operating activities:
    Depreciation and amortization                                         31,749                12,344
    Issuance of common stock for services                                184,050               648,775
    Issuance of common stock for payment of financing costs                 --                 984,000
    Write-down of capitalized software costs                                --               1,500,570
    Write-down of investments                                               --               1,075,000
    Cancellation of indebtedness                                        (836,223)             (649,080)
    Gain on liquidation of  long term debt                            (4,904,508)                 --
    Interest expense                                                     214,829                  --
    Financing cost                                                       265,000               345,000
    Bad debt expense                                                     105,438               229,265
    Changes in operating assets and liabilities
          Investments                                                       --                 135,192
          Accounts receivable                                           (124,077)                 --
          Accrued interest receivable                                   (125,039)             (111,093)
          Other receivable                                                  --                 135,192
          Accounts payable                                                  (865)              141,464
          Other current liabilities                                       81,204              (683,254)
          Payroll taxes payable                                          (95,564)             (468,394)
          Judgements payable                                                --                 (40,189)
          Payable to officer                                             (51,665)                 --
                                                                     -----------           -----------

  Net cash used by operating activities                               (2,046,002)           (3,113,123)

Cash flows used in investing activities:
   Equipment                                                                --                 (95,251)
   Technology                                                         (1,552,991)              (91,000)
   Investments                                                              --                 (85,000)
   Advances to related party                                          (1,478,503)             (132,099)
                                                                     -----------           -----------

Net cash used in investing activities                                  (3,031,494)             (403,350)

Cash flows from financing activities
   Increase in current liabilities                                          --                  44,014
   Increase in long term debt                                          5,017,803             3,765,767
   Repayment of notes payable                                            (19,468)              (79,500)
   Repayment of advances from officer                                       --                 (35,922)
   Repayment of related party advances                                      --                 (83,814)
                                                                     -----------           -----------

Net cash provided by financing activities                               4,998,335             3,610,545

  Increase (decrease) in cash                                            (79,161)               94,072
  Cash at beginning of period                                             94,342                   270
                                                                     -----------           -----------
  Cash at end of period                                              $    15,181           $    94,342
                                                                     ===========           ===========




THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.


                                                 F-7







                                         SEAMLESS WI-FI, INC.
                                  f/k/a ALPHA WIRELESS BROADBAND, INC
                                SUPPLEMENTAL DISCLOSURES OF CASH FLOWS


                                                                                                          JUNE 30,
                                                                                                    2007               2006
                                                                                                    ----               ----
                                                                                                                       
Cash paid for:
  Interest                                                                                       $     --            $     --  
  Taxes                                                                                          $     --            $     --  

Noncash investing, and financing activities
  Common stock issued for services                                                               $  160,050          $  648,775
  Common stock issued for payment of financing costs                                             $     --            $  984,000

  Common stock issued for conversion of preferred A stock and settle operating expenses          $2,416,992          $4,588,768
  Common stock and preferred stock issued for acquisition of assets                              $     --            $  200,000




                                  SEE NOTES TO FINANCIAL STATEMENTS.


                                                 F-8



                             SEAMLESS WI-FI, INC.
                     F/K/A ALPHA WIRELESS BROADBAND, INC.
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1: ORGANIZATION AND OPERATIONS

Prior to December 31, 1997, Seamless Wi-Fi, Inc (the "Company") formerly known
as Alpha Wireless Broadband, Inc. was in the food product manufacturing business
and formerly known as International Food and Beverage, Inc. In November 1998,
new stockholders bought majority control from the previous Chief Executive
Officer through a private transaction. Immediately thereafter, the former CEO
resigned and the new stockholders assumed the executive management positions. In
December 1998, after new management was in place, a decision was made to change
the Company's principal line of business from manufacturing to technology. The
Company changed its name from International Food & Beverage, Inc. to Internet
Business's International, Inc., and reincorporated the Company on December 8,
1998 in the state of Nevada. During April of 1999, the Company announced the
opening of its first e-commerce site and engaged in the development, operation
and marketing of a number of commercial web sites. The Company's subsidiaries
consisted of: Lending on Line (providing real estate loans and equipment
leasing), Internet Service Provider (providing national Internet access dial-up
service, wireless high speed Internet, and Internet web design and hosting), E.
Commerce (providing Auction sites), and Direct Marketing (providing direct
marketing of long distance phone service, computers with Internet access, and
Internet web design hosting). The Company ceased operations during the fiscal
year ended June 30, 2003. During the fiscal year ended June 30, 2004, the
Company changed its name to Alpha Wireless Broadband, Inc, and started a new
wireless operation through its wholly owned subsidiary, Skyy-Fi, Inc., a Nevada
Corporation. Skyy-Fi began providing access to the Internet, by installing
equipment in locations such as hotels and coffee shops for use by their patrons
for a fee or free basis. These locations are commonly known as Wi-Fi Hotspots.
The Company has 36 Wi-Fi locations.

In January 2005, the Company acquired the assets of Seamless P2P, LLC and
contributed these assets to its 80% owned subsidiary, Seamless Peer to Peer,
Inc., which is a developer and provider of a patent pending software program,
Phenom Encryption Software, that encrypts Wi-Fi transmissions based upon RSA's
government certified 256 bit AES encryption coupled with RSA's Public Key
Infrastracture flexible telecom data and voice transport solutions.

In May 2005, the Company changed its name from Alpha Wireless Broadband, Inc. to
Seamless Wi-Fi, Inc., which was approved by the Board of Directors and changed
the name of its subsidiary from Skyy-Fi, Inc. to Seamless Skyy-Fi, Inc.

In December 2005, the Company started a hosting company, Alpha Internet,
offering Seamless clients a high-security hosting facility.

PRINCIPLES OF CONSOLIDATION

The financial statements include the accounts of the Company and its wholly
owned subsidiaries and majority-owned subsidiary. All significant intercompany
accounts and transactions have been eliminated in consolidation.


                                     F-9



USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Significant estimates include allowances for doubtful accounts and notes and
mortgage loans receivable. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

The Company considers all short-term, highly liquid investments with an original
maturity date of three months or less to be cash equivalents.

PROPERTY AND EQUIPMENT

Property and equipment is stated at cost and depreciated using the straight-line
method over the estimated useful life of the assets, which is generally three to
five years for computers and computer related equipment and five to seven years
for furniture and other non-computer equipment. Leasehold improvements are
amortized using the straight-line method over the shorter of their estimated
useful lives or the term of the lease, ranging from one to five years.

INVESTMENTS

Investments are stated at the lower of cost or market value.

PROPRIETARY SOFTWARE IN DEVELOPMENT

In accordance with SFAS No. 86, accounting for the Cost of Computer Software to
be Sold, Leased, or Otherwise Marketed Software ("FAS 86"), the Company has
capitalized certain computer software development costs upon the establishment
of technological feasibility. Technological feasibility is considered to have
occurred upon completion of a detailed program design which has been confirmed
by documenting and tracing the detailed program design to product
specifications. Amortization is provided based on the greater of the ratios that
current gross revenues for a product bear to the total of current and
anticipated future gross revenues for that product. The estimated useful life
for the straight-line method is determined to be two to five years.

The unamortized computer software and computer software development costs were
$1,570,000 at September 30, 2005. During the quarter ended December 31, 2005 the
computer software development team failed to deliver the completed software
program as per agreement. The unamortized development cost was expensed and on
January 2006, a new computer software development team was contracted and the
costs related to the development will be expensed until the development of the
computer software program is completed. As of the year ended June 30, 2007,
there were no software development expenses.

REVENUE RECOGNITION

For current Company operations, providing wireless Internet access, fees are
charged either to the proprietor of the Wi-Fi hotspot location or the customer
using the services. The fees paid by a proprietor for services provided on a
month-to-month basis are billed at the end of each month for which the service
is contracted. The fees paid by customers using the wireless Internet access are
paid at the time service is provided and therefore recorded as revenue at that
time.


                                     F-10



ADVERTISING EXPENSE

All advertising costs are expensed when incurred.

CONCENTRATION OF CREDIT RISK

The Company is subject to credit risk through trade receivables. Monthly
internet access fees and web hosting are generally billed to the customer's
credit card, thus reducing the credit risk. The Company routinely assesses the
financial strength of significant customers and this assessment, combined with
the large number and geographic diversity of its customers, limits the Company's
concentration of risk with respect to trade accounts receivable.

INCOME TAXES

The Company accounts for income taxes under the asset and liability approach of
reporting for income taxes. Deferred taxes are recorded based upon the tax
impact of items affecting financial reporting and tax filings in different
periods. A valuation allowance is provided against net deferred tax assets where
the Company determines realization is not currently judged to be more likely
than not. The Company and its 80% of more owned U.S. subsidiaries file a
consolidated federal income tax return. Although income tax returns have not
been filed since 1999, the Company has no material tax liability due to its
losses during these periods. The Company is currently having these income tax
returns prepared.

EARNINGS (LOSS) PER SHARE ("EPS")

Basic EPS is computed by dividing income (loss) by the weighted average number
of common shares outstanding for the period. Diluted EPS is computed giving
effect to all dilutive potential common shares that were outstanding during the
period. Dilutive potential common shares consist of incremental shares issuable
upon conversion of preferred stock outstanding.

STOCK BASED COMPENSATION

The Company has elected to early adoption of SFAS 123R which requires all share
based payments to officers, directors, and employees, including stock options to
be recognized as a cost in the financial statements based on their fair values.
The Company accounts for stock based grants issued to non-employees at fair
value in accordance with SFAS 123 and ETIF 96-18 "Accounting for Equity
Instruments That are Issued to Other Than Employees for Acquiring, or In
Conjunction with Selling, Goods, or Services." There were no options granted
during the years ended June 30, 2007 and 2006, respectively.

NEW ACCOUNTING PRONOUNCEMENTS

In February 2007, the FASB issued Statement of Financial Accounting Standards
("SFAS") No. 159, "Fair Value Option for Financial Assets and Financial
Liabilities." SFAS 159 permits all entities to choose to measure eligible items
at fair value at specified election dates. The Company is currently assessing
the impact of adopting SFAS 159 on its consolidated financial statements.

In September 2006, the FASB issued Statement of Financial Accounting Standards
("SFAS") No. 157, "Fair Value Measurements," which establishes a framework for
reporting fair value and expands disclosures about fair value measurements. SFAS
No. 157 is effective for financial statements issued for



                                     F-11



fiscal years beginning after November 15, 2007 and interim periods within those
fiscal years. The Company is currently assessing the impact of the adoption of
this standard on its financial statements.

NOTE 2: GOING CONCERN

The accompanying financial statements have been prepared in conformity with
generally accepted accounting principles, which contemplate continuation of the
Company as a going concern. The Company has experienced significant losses in
recent years; at June 30, 2007 working capital deficiency is $292,120.

The Company is actively pursuing additional financing through discussions with
investment bankers and private investors. There can be no assurance the Company
will be successful in its effort to secure additional financing. The Company's
ability to continue as a going concern is contingent upon its ability to secure
financing and attain profitable operations. The financial statements do not
include any adjustment to reflect the possible future effects on the
recoverability and classification of assets or the amounts and classification of
liabilities that may result from the possible inability of the Company to
continue as a going concern.

NOTE 3: LONG TERM DEBT

During the year ended June 30, 2007, the Company entered into a loan
satisfaction agreement with Ayuda Funding, LLC. The agreement provided the
Company would transfer 1,000,000 shares of 1st Global Financial Corporation
common stock and 500,000 shares of DLR Funding, Inc. common stock, valued at $1
per share to Ayuda Funding, LLC as payment in full of loans and interest
totaling $4,904,508.

In addition, Ayuda Funding, LLC converted 76,027 shares of Series A Preferred
Stock into 760,270,000 shares of common stock due to a default on one of the
notes, valued at $2,392,992, and as a payment of the loan plus interest.

NOTE 4: OTHER CURRENT LIABILITIES

Other current liabilities consist of the following:

         Credit cards payable                         $ 316,228 (1)
         Payable to Integrated Communication           235,585
         Various liabilities assumed from
             Alpha Tooling acquisition                 276,187
                                                      --------
                                                      $828,000
                                                      ========

    (1) Payments in varying amounts are due monthly with interest at 18% per
        annum.
    (2) Results from contract cancellation.

NOTE 5:  RELATED PARTY TRANSACTIONS


                                     F-12



The Company has made the following loans and advances to related parties as of
   June 30, 2007:


                                                                          Allowance for
                                                        Loan/Advance     for uncollectible       Balance
                                                          Balance          loans/advances           Net
                                                        ----------          ----------          -----------
                                                                             
         Accepted Sales                  (A)            $  338,033          $  338,033
         Carbon Jungle, Inc.             (B)               236,543          $  236,543                 --
         DK Corp.                        (C)                98,160              98,160                 --
         DLR Funding                     (D)               667,159             667,159
         1st Global Financial Service    (E,F)           1,487,961           1,487,961
                                                        ----------          ----------          -----------

                                         Total:        $2,827,856          $  334,703          $ 2,493,153
                                                       ==========          ==========          ===========


The above interest at annual rates ranges from 6% to 12%. The net balance at
June 30, 2007 is $2,493,153 matures in the fiscal years ended June 30 as
follows:

                    2008          $  400,877
                    2009             506,599
                    2010           1,585,677
                                  ----------
                                  $2,493,153
                                  ===========

        (A)      Accepted Sales is a division of 1st Global Financial Services
                 noted below.
        (B)      The President of the Company is a Director of the Company; the
                 Secretary of the Company is an officer of this Company.
        (C)      DK Corp is a business held by David Karst.
        (D)      The President of the Company is a stockholder and director of
                 this Company. The Secretary of the Company is an officer and
                 stockholder of this Company.
        (E)      The President of the Company is a stockholder and director of
                 this Company. The Secretary of the Company is an officer and
                 stockholder of this Company. A director of 1st Global is paid
                 $10,000 per month by the Company, which is recorded as a loan
                 receivable by the Company.
        (F)      The President of the Company is an officer of this Company.

The Company has recorded interest income on the above for the year ended June
30, 2007 in the amount of $ 236,132.

During the year ended June 30, 2006, the Company owned 19% of the common stock
of 1st Global Financial Services, Inc. (1st Global). Accepted Sales is a wholly
owned subsidiary of 1st Global. Albert Reda, the Company's CEO, is a director of
1st Global. 1st Global is in the debit/credit carding processing business and is
in the process of becoming a credit card processor. 1st Global may collaborate
with the Company to market Seamless Skyy-Fi services to its merchants. The
Company has made advances to 1st Global until they can obtain permanent
financing from other sources.

As of June 30, 2007, the Company owned 4.9 % of the common stock of 1st Global
Services, Inc. This decrease of ownership was due to the Company having entered
into a loan satisfaction agreement with Ayuda Funding, LLC. The agreement
provided for the Company transferring to Ayuda Funding, LLC 1,000,000 shares of
its 1st Global common stock and 500,000 shares of its DLR Funding, Inc. common
stock as payment in full of loans and interest totaling $4,904,508. (See Note 3:
Long Term Debt.)


                                     F-13




Creditor Trust

The Company established a creditor trust pursuant to the terms and conditions of
a trust agreement whereby shares of the Company's common stock were to be held
in trust to return the maximum amount to beneficiaries and to allow the Company
to continue to operate without interruption. Following the submission of claims
and validation of such claims, the trustee was to liquidate the trust property
and distribute the proceeds to the trust beneficiaries in a manner the trustee
deems most beneficial.

As of September 30, 2005, the Company appointed Financial Services LLC as the
Trust Protector for the Creditor Trust. The Trust is currently managed by Albert
Reda who is an officer and director of the Company. The Company's previous
Creditor Trust had appointed KFG LLC as Trust Protector which was managed by
David Karst as the Trustee for the Creditor Trust.

NOTE 6: STOCKHOLDER'S EQUITY

ISSUANCE OF COMMON STOCK AND PREFERRED STOCK

The Board of Directors of the Corporation may from time to time authorize by
resolution the issuance of any or all shares of the Company's authorized common
stock and preferred stock in accordance with the terms and conditions set forth
in the Articles of Incorporation for such purposes, in such amounts to such
persons, corporations, or entities, for such consideration and in the case of
the preferred stock, in one or more series, all as the Board of Directors in its
discretion may determine and without any vote or either action by the
stockholders, except as otherwise required by law. The Board of Directors, from
time to time also may authorize by resolution, options, warrants and other
rights convertible into common or preferred stock (collectively "securities").
The securities must be issued for such consideration, including cash, property,
or services, as the Board of Directors may deem appropriate, subject to the
requirement that the value of such consideration be less than the par value of
the shares issued. Any securities issued for which the consideration so fixed
paid or delivered shall be fully paid stock and the holder of such securities
shall not be liable for any further call assessment or any other payment
thereon, provided that the actual value of such consideration is not less than
the par value of the securities so issued. The Board of Directors may issue
shares of common stock in the form of a distribution or distributions pursuant
to a stock dividend or split-up of the shares of the common stock only to then
holders of the outstanding shares of the common stock.

Preferred A shares converts as follows: 1 share of Preferred converts into
10,000 shares of common.

Preferred C shares converts as follows: one share of C which has a par value of
$1.00 converts into $1.00 worth of common shares.

Examples:

1. If the common stock 10 day average prior to the date of conversion, was
trading at $.10 per share, one share of preferred C would convert into 10 shares
of common.

2. If the common stock 10 day average prior to the date of conversion, was
trading at $.001 per share, one share of preferred C would convert into 1,000
shares of common.

STOCK ISSUANCE

DURING THE FISCAL YEAR ENDED JUNE 30, 2007, THE FOLLOWING SECURITIES WERE
ISSUED:


                                     F-14



Ayuda Funding, LLC converted 175,000 shares of Series A Preferred Stock into
1,750,000,000 shares of common stock.

Ayuda Funding, LLC converted 76,027 shares of Series A Preferred Stock into
760,270,000 shares of common stock to pay back Ayuda in the amount of
$2,392,992.

36,005,000 shares of common stock were issued for services and expensed for
officer's compensation at $160,050.

500 shares of Series A Preferred Stock were converted into 5,000,000 shares of
common stock for consulting services and expensed at $24,000.

Global Debit Card Ltd. converted 100 shares of Series A Preferred Stock valued
at $ 0.10 into 1,000,000 shares of common stock valued at $1,000.

DURING THE FISCAL YEAR ENDED JUNE 30, 2006, THE FOLLOWING SECURITIES WERE
ISSUED:

2,022,500 shares of common stock were issued for operational services valued at
$648,775.

Ayuda Funding LLC converted 24,703 shares of Series A preferred stock into
247,030,520 shares of common stock, of which $773,145 was used to pay judgments,
and pay back Ayuda Funding LLC in the amount of $617,575.

Adobe Oil acquired 400,000 shares of Series C preferred stock from Seamless P2P
valued at $400,000, which 300,000 shares were converted into 5,656,537 shares of
common stock and 100,000 shares were returned to Treasury. See Note 6: Related
Party Transaction.

Windsor Professional Plaza LLC converted 6,575 shares of Series A preferred
stock into 65,750,000 shares of common stock of which 10,000,000 shares of
common stock were issued for consulting services and expensed at $473,000.

NOTE 7: INCOME TAXES

No provision for income taxes has been recorded in the accompanying financial
statements as a result of the Company's net operating losses. The Company has
unused tax loss carry forwards of approximately $20,000,000 to offset future
taxable income. Such carry forwards expire in the years beginning 2021. The
deferred tax asset recorded by the Company as a result of these tax loss carry
forwards is approximately $7,000,000 for both years ended June 30, 2007 and
2006. The Company has reduced the deferred tax asset resulting from its tax loss
carry forwards by a valuation allowance of an equal amount as the realization of
the deferred tax asset is uncertain. There is no net change in the deferred tax
asset and valuation allowance from July 1, 2006 to June 30, 2007.

NOTE 8: COMMITMENTS AND CONTINGENCIES

LEASE

The Company has entered into lease agreements for office space and an automobile
which expire on August 31, 2010 and October 8, 2007, respectively. The Company
rents additional office space in Nevada, on a month to month basis. Rent expense
under these leases for the years ended June 30, 2007



                                     F-15



and 2006 was $47,222 and $35,136, respectively. Remaining commitments under the
operating leases are as follows:

        Fiscal year ending June 30:

                                   2008     $ 53,687
                                   2009       50,340
                                   2010       50,340




LEGAL PROCEEDINGS

The Company is a party to the following legal proceedings:

GLOBALIST V. INTERNET BUSINESS'S INTERNATIONAL, INC. ET AL  

On March 30, 2006, the Superior Court of the State of California, County of
Orange, entered a judgment against the Company and other defendants, jointly and
severally, in the total amount of $452,714.79 in the matter of Globalist
Internet Technologies, Inc. vs. Iron Horse Holdings, Inc., et al.

EMPLOYMENT CONTRACT

The Company has an employment contract with their Chief Executive Officer,
Albert Reda that calls for a base salary of $240,000 for the year ended June 30,
2007 and thereafter, a base annual salary of $300,000 increasing to $360,000
once the Company is profitable, from July 2007 until its expiration date in June
2012. In addition, the contract includes a bonus that will be determined by the
Company's Board of Directors. Severance for the remainder of any term is also
required in the event of termination without cause.

NOTE 9: SEGMENT INFORMATION

In accordance with SFAS No. 131 "Disclosure about Segments of an Enterprise and
Related Information," management has determined that there are three reportable
segments based on the customers served by each segment: Such determination was
based on the level at which executive management reviews the results of
operations in order to make decisions regarding performance assessment and
resource allocation.

The Company is currently a start up business that is providing "Wireless
Internet" access at business locations and a developer and provider of a patent
pending software. In December 2005 the Company started a hosting company Alpha
Internet offering Seamless clients a high-security hosting facility (See Note 1:
Organization and Operations.) Certain general expenses related to advertising
and marketing, information systems, finance and administrative groups are not
allocated to the operating segments and are included in "other" in the
reconciliation of operating income reported below.


                                     F-16



Information on reportable segments is as follows:

                                Fiscal year ended June 30,
                               2007                   2006  
                            -----------           -----------

Wi-Fi ISP net sales          $    42,717           $    38,793
Cost of Wi-Fi sales             (165,580)             (115,070)
Cost and expenses             (2,551,404)           (7,516,318)
Other net income               5,883,936             1,224,680
                            -----------           -----------
Net loss                     $ 3,209,669           $(6,367,915)
                            ===========           ===========




NOTE 10: SUBSEQUENT EVENTS

On August 7, 2007, the Company's board of directors approved a distribution to
its shareholders of 400,000 shares of 1st Global Financial Corporation common
stock owned by the Company which had zero carry value on the Company's books. On
September 14, 2007, one share of 1st Global Financial Corporation common stock
was distributed for each 20,000 shares of Company common stock held by Company
shareholders as of the record date, September 7, 2007. Company common stock
shareholders owning less than 20,000 shares of Company common stock were not
entitled to receive any distribution as it was not economically feasible for the
Company to make cash in lieu payments or issue fractional shares.

During the quarter ending September 30, 2007, $75,000 of cash was used to pay
professional fees per agreed settlement, see Note 8: Commitment &
Contingencies-Legal Proceedings, with the approval of the Company's Board of
Directors.





                                     F-17





Copyright © 2007 QuoteMedia. All rights reserved. Terms of Use.
Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.

 
 

As of October 4, 2007, the number of shares of common stock outstanding was
6,841,422,154. The aggregate market value of our common stock held by
non-affiliates of the registrant as of October 4, 2007 was approximately
$2,023,110 (based upon 6,743,701,705 shares at $.0003 per share).
 

SEAMLESS WI-FI CORPORATE NEWSLETTER
October 24, 2007

Following is the latest newsletter from Seamless to update our partners and shareholders on current corporate, product and marketing developments since our last newsletter.  

I want to thank our shareholders for their continued interest in our company and the products we have brought and are bringing to market.

On October 15th Seamless filed SEC Form 10KSB reporting on the company?s progress over the past fiscal year ended June 30, 2007. The complete filing is viewable via the online Edgar archives. Of particular interest to our partners and shareholders will be exhibit 10.7, detailing our OEM Mobility License Agreement with Microsoft Licensing, GP, exhibit 10.8, our Microsoft Services OEM Foundation Service Agreement, and exhibit 10.9, the Loan Satisfaction Agreement with Ayuda Funding Corp. The payment of the Ayuda Loan resulted in our stockholder equity changing from a negative net worth as June 30, 2006 in the amount of ($3,833,217) to a positive net worth as of June 30, 2007 in the amount of $3,417,625.

As you are aware we launched our new "Seamless Secure Internet Browser" (S-SIB?) service to security professionals at the ASIS International 2007 show in Las Vegas from September 24 through 27, 2007. If you have been following the company, you know that S-SIB? is a Virtual Private Network (VPN) service that protects user data through using government-quality encryption.

There is a very great need among business travelers for ensuring data safety while on the road. According to information released in the Department of Homeland Security Daily Open Source Infrastructure Report, dated August 2, 2007, "users should never use a Wi-Fi hotspot unless they are using VPN (virtual private networking) or SSL (secure sockets layer) to access their accounts."

S-SIB? was prominently featured in a session conducted at ASIS entitled "Securing Your Personal and Corporate Data While on the Road." We are developing an online webinar for IT and security professionals on mobile data security featuring S-SIB?. The date of the S-SIB webinar will be stated in the next newsletter.

We are also pleased to announce that all Seamless products, including S-SIB?, are now covered under a $2 million product liability policy. Our insurance underwriters? confidence in S-SIB's? ability to protect wireless mobile computer users from data hijacking over insecure, evil-twinned or spoofed connections is reflected in the amount of product liability coverage offered.

At the ASIS show interest in S-SIB?, the S-XGen? and Phenom® was high among the show's attendees, including representatives of major federal, state and local law enforcement, investigatory and regulatory agencies. We generated over 500 leads from the show.

For those of you who have not signed up for S-SIB, we encourage you to try the free 30-day S-SIB? service trial, please download the software directly from www.s-sib.com. In addition, you may take advantage of the introductory special price of only $19.95 for a full year of service. An annual S-SIB? subscription normally costs $39.95.

At this point all shareholders that were entitled to should have received their dividend distribution of 1st Global Financial Corporation common stock. As we stated publicly, Seamless Wi-Fi transferred the shares on September 17, 2007. CEDE, the central depository for the distribution, has notified the brokerage houses that the shares are available for distribution by CEDE as soon as the broker submits the corresponding shareholder distribution information. If your broker has NOT contacted CEDE, we suggest you request that they do so immediately.

On the S-XGen? front, we have had the S-XGen? tested for FCC compliance and the unit has passed FCC non-interference performance parameters. There have been some final changes in the specifications and components in order to fulfill Microsoft certification requirements, notably a higher-resolution screen. We anticipate the improved S-XGen? will be submitted to the FCC for certification testing this quarter. These product changes prevented the Company from attend the Hand Held Learning forum held this month London, England.

On September 26 we also announced that the SG Technology Group ordered 2,000 S-XGen? Mobile Computing and Communications Devices. SG Technology Group is a full-service IT Solutions Provider based in New York, NY. (www.sgtechgroup.com)

According to Mr. Solomon Greene, CEO of SG Technology Group, ?I look forward to offering my client base the unique mix of capabilities, connectivity, portability and power the S-XGen? represents.?

We thank you for your time, continued enthusiasm, interest and support.
Best regards,

Albert Reda
C.E.O Seamless Wi-Fi
Ph-775-588-2387
Fx-775-588-2387
arreda@slwf.net
 

 

heute habe ich in der Kölner Express gelesen,das einer über 22000 stellen nach dem Komma behalten kann.
Dem habe ich sofort Seamless empfohlen.
:-)  

 

MoneyTV, Week of 10/26

 

2007-10-26 05:00 ET - News Release

Also News Release (U-ITRO) ITRONICS INC
Also News Release (U-SPNG) SPONGETECH DELIVERY SYSTEMS INC
Also News Release (U-USVO) USA VIDEO INTERACTIVE CP

LOS ANGELES, CA -- (MARKET WIRE) -- 10/26/07

MoneyTV is the nationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews by hosts Donald Baillargeon and Skip Lindeman with company CEOs, providing insights into their operations and outlooks for their futures.

Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.

The television program can also be viewed online immediately at www.moneytv.net.

Featured companies on this week's program include:

USA Video Interactive Corp (OTCBB: USVO) Business Development executive Patrick Gregston spoke of the piracy of digital media and the company's SmartMarks solution, a product that embeds a watermark on each frame, "so that the crooks can be traced."

Seamless Wi-Fi, Inc. (OTCBB: SLWF) CEO Al Reda demonstrated the company's S-XGen hand held computer, which features a nearly full sized keyboard, GPS, PDA and cell phone.

Indymac Bank's Mortgage Minute Guy Roger Schlesinger discussed the anticipated rate cut from the Federal Reserve.

Spongetech Delivery Systems, Inc. (OTCBB: SPNG) President & CEO Michael Metter explained in detail a recent press release issued by the company.

Itronics, Inc. (OTCBB: ITRO) CEO John Whitney announced a gold information web site, insidemetals.com.

Viewers of MoneyTV can receive free information in the mail about featured companies by calling the toll-free phone number on their TV screen. The weekly television program debuted in 1996 and is broadcast nationally in the USA to 70 million U.S. homes on Saturdays at 11:00 AM ET, Sundays at 8:30 AM PT, 8:30 AM ET, 9:30 AM ET, 3:30 PM ET and Mondays at 6:30 PM ET.

MoneyTV is broadcast to 45 million TV homes in Western Europe, Wednesdays at 5:00 PM.

MoneyTV is also broadcast on UPN-TV in the Virgin Islands and Puerto Rico Sundays at 8:00 AM.

MoneyTV is also available in Thailand on the Broad TV Network.

A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net.

MoneyTV television program, Copyright MMVII, all rights reserved. MoneyTV does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by the hosts Donald Baillargeon and Skip Lindeman, the producers, publisher or parent company of MoneyTV.

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Contact:
Donald Baillargeon
Executive Producer
MoneyTV
949 388 5267
Info@moneytv.net