Resourcing Solutions Group, Inc - Intangible assets

Resourcing Solutions Group, Inc - Recent Material Event

Item 1.	Index to Consolidated Financial Statements

		Consolidated Balance Sheets	F – 2-3
		Consolidated Statements of Operations	F – 4
		Consolidated Statements of Cash Flows	F – 5
		Notes to Consolidated Financial Statements	F – 6-10

	Item 2.	Management’s Discussion and Analysis of Financial Results of Operations	3 – 10

	Item 3.	Controls and Procedures

PART II		OTHER INFORMATION

	Item 1.	Legal Proceedings

	Item 6.	Exhibits

THE RESOURCING SOLUTIONS GROUP, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

	September 30,		December 31,

ASSETS
Current assets:
Cash	$	181,962	$	703,830
Accounts receivable		329,606		169,922
Accounts receivable-Unbilled		878,085		583,500
Prepaid expenses		198,491		87,170
Workers compensation insurance deposits		197,189		66,540
Restricted Cash		250,000		355,032

Total current assets		2,035,333		1,965,994

Property and equipment, net of accumulated depreciation of
$226,390 and $193,593 respectively		48,172		75,614

Other assets:
Other receivables		126,508		25,720
Intangible assets – less accumulated Amortization of $206,141 and $117,037 in 2007 and 2006 respectfully		845,240		639,836
Security deposits		3,776		3,176

Total other assets		975,524		668,732

Total assets	$	3,059,029	$	2,710,340

See accompanying notes to the consolidated financial statements.

F-2

THE RESOURCING SOLUTIONS GROUP, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

	September 30,			December 31,

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	298,725		$	207,622
Payroll and payroll related liabilities		485,056			385,642
Accrued work site employee payroll expenses		869,309			564,986
Accrued expenses		19,427			43,512
Client deposits and advance payments		79,035			2,208
Short term payables		922,657			821,034

Total current liabilities		2,674,209			2,025,004

Long-term liabilities:
Notes payable – Non Current portion		166,614			192,805

Total long-term liabilities		166,614			192,805

Total liabilities		2,840,823			2,217,809

Stockholders’ equity:
Preferred stock, .001 par value, 200,000,000
5,000,000 shares authorized,0 shares issued		-0-			-0-
Common stock, .001 par value, 10,000,000,000 shares
authorized, 35,190,630 and 994,920 shares
issued respectively		35,190
Additional paid-in capital		2,466,943			1,331,021
Retained Earnings		(2,283,927	)		(839,485	)

Total stockholders’ equity		218,206			492,531

Total liabilities and stockholders’ equity	$	3,059,029		$	2,710,340

See accompanying notes to the consolidated financial statements.

F-3

THE RESOURCING SOLUTIONS GROUP, INC. AND SUBSIDIARIES

Consolidated Statements of Operations