On August 25, 2009, Velocity Portfolio Group, Inc. (the "Company") received a letter from NYSE Amex (the "Exchange") stating that the Company was not in compliance as a result of the Company being unable to timely file its quarterly report on Form 10-Q for the period ended June 30, 2009. The timely filing of such a report is a continuing listing standard required by Sections 134 and 1101 of the Exchange's Company Guide.

Pursuant to the Exchange's rules, the Exchange may at any time, in view of the circumstances in each case, suspend and remove the Company's securities from the Exchange when, in its opinion, such security is unsuitable for continued trading on the Exchange. However, the Exchange may give consideration to any prompt corrective action that the Company proposes to take that would enable it to comply with the continued listing standards.

The letter required the Company to submit such a plan by September 8, 2009, advising the Exchange of action it has taken, or will take, that will bring the Company into compliance by no later than November 24, 2009.

Attached hereto as Exhibit 99.1 is a copy of the press release, which is required to be filed pursuant to Section 402 of the Exchange's Company Guide.

  (d)           Exhibits.

  Exhibit No.   Description

      99.1      Press Release, dated September 1, 2009.*

* Filed herewith

This Current Report on Form 8-K may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may", "could", "would", "should", "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).