PART I.	FINANCIAL INFORMATION

Item 1.	Financial Statements (Unaudited)	4

	Condensed Consolidated Balance Sheet as of September 30, 2006	4

	Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2006 and 2005	5

	Condensed Consolidated Statement of Stockholders’ Deficit for the Nine Months Ended September 30, 2006	6

	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2006 and 2005	7

	Notes to Unaudited Condensed Consolidated Financial Statements	8

Item 2.	Management’s Discussion and Analysis or Plan of Operations	25

Item 3.	Controls and Procedures	29

PART II.	OTHER INFORMATION

Item 1.	Legal Proceedings	30

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	30

Item 3	Defaults upon Senior Securities	30

Item 4.	Submission of Matters to a Vote of Security Holders	30

Item 5.	Other Information	30

Item 6.	Exhibits	30

Signatures		31

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ASSETS
Current assets:		RESTATED
Cash and cash equivalents	$	4,853,422
Accounts receivable, net of allowance for doubtful accounts of $-0-		710,046
Inventory (Note 2)		847,152
Prepaid expenses		222,106
Advances and other current assets		44,671
Total current assets		6,677,397

Property, plant and equipment, net of accumulated depreciation of $70,620 (Note 3)		506,600

Other assets:
Deferred financing costs, net of accumulated amortization of $59,918		547,582
Other assets		12,211
Total other assets		559,793

Total assets	$	7,743,790

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable and accrued liabilities (Note 4)	$	2,310,109
Advances received from customers		608,281
Note payable-other (Note 5)		1,500,000
Notes payable-related parties		159,000
Total current liabilities		4,577,390

Convertible notes payable, net of unamortized discount (Note 7)		1,191,881
Warrant liability (Note 7 )		5,064,900
Dividends payable (Note 6)		172,531
Total long term debt		6,429,312

Commitments and contingencies (Note 11)

Stockholders’ Deficit (Note 8)
Preferred stock, par value $0.01 per share; 1,200,000 shares authorized; -0- issued and outstanding		-
Series B-1 Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, 228,652 issued and outstanding		2,286
Series B-3 Preferred stock, par value $0.001 per share, 232,500 shares authorized, 47,518 issued and outstanding		475
Series B-4 Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, 95,500 issued and outstanding		955
Common stock, par value $0.01 per share, 150,000,000 shares authorized, 16,269,597 issued and outstanding (Note 8)		162,696
Additional paid in capital (Note 8)		796,519
Treasury stock, at cost		(80,000	)
Accumulated deficit		(4,141,769	)
Accumulated other comprehensive income (loss)		(4,074	)
Total deficiency in stockholders' equity		(3,262,912	)
Total Liabilities and Deficiency in Stockholders' Equity	$	7,743,790

See accompanying notes to the unaudited condensed consolidated financial statements

F-4

SOLAR THIN FILMS, INC

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	Three months ended September 30,						Nine months ended September 30,
	RESTATED						RESTATED
	2006			2005			2006			2005
REVENUE:	$	715,546		$	232,332		$	1,027,731		$	597,724
Cost of goods sold		331,874			78,200			559,889			279,189
Gross profit		383,672			154,132			467,842			318,535

OPERATING EXPENSES:
Selling, general and administrative expenses		1,208,542			26,224			1,731,446			395,331
Research and development		-			97,475			-			97,475
Depreciation		17,816			17,194			35,564			24,526
Total operating expenses		1,226,358			140,893			1,767,010			517,332

NET INCOME (LOSS) FROM OPERATIONS		(842,686	)		13,239			(1,299,168	)		(198,797	)

Other income/(expense)
Foreign exchange (expense) gain:		(5,185	)		(720	)		(3,617	)		2,987
Unrealized gain relating to adjustment of warranty liability to fair value		4,246,200			-			5,757,000			-
Interest expense, net		(723,024	)		(679	)		(906,573	)		(4,630	)
Debt acquisition costs		(51,041	)		-			(59,918	)		-
Other income		5,654			40,582			19,381			284,043
Total other income		3,472,604			39,183			4,806,273			282,400

Net income before provision for income taxes		2,629,918			52,422			3,507,105			83,603

Income taxes expense		-			7,454			-			7,454

NET INCOME	$	2,629,918		$	44,968		$	3,507,105		$	76,149

Net income per common share (basic) (Note 1)	$	0.16		$	0.00		$	0.22		$	0.00
Net income (loss) per common share (assuming fully diluted) (Note 1)	$	(0.02	)	$	0.00		$	(0.03	)	$	0.00

Weighted average shares outstanding (basic) (Note 1)		16,083,625			16,035,221			16,051,533			16,035,221
Weighted average shares outstanding (assuming fully diluted) (Note 1)		54,033,804			16,190,777			54,001,712			16,086,775

Comprehensive Income:
Net Income	$	2,629,918		$	44,968		$	3,507,105		$	76,149
Foreign currency transaction gain (loss)		8,770			50,022			(36,071	)		(469	)

Comprehensive Income	$	2,638,688		$	94,990		$	3,471,034		$	75,680

See accompanying notes to the unaudited condensed consolidated financial statements

F-5

SOLAR THIN FILMS, INC

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT

Nine months ended September 30, 2006

(Unaudited)

RESTATED

	Preferred Series B-1				Preferred Series B-3				Preferred Series B-4
	Shares		Amount		Shares		Amount		Shares		Amount
Balance at December 31, 2005		-	$	-		-	$	-		-	$	-
Shares issued to Kraft RT shareholders in exchange for 95.5% of issued and outstanding Kraft RT shares in connection with Securities Purchase Agreement on June 14, 2006 (Note 1)		-		-		-		-		95,500		955
Kraft Shares exchanged for Solar shares in connection with Share Exchange Agreement		-		-		-		-		-		-
Transfer of 225 Kraft Shares to minority interest		-		-		-		-		-		-
Effect of merger with Solar Thin Films, Inc. (formerly American Global United) on June 14, 2006		228,652		2,286		47,518		475		-		-
Common stock issued in September 2006 for services rendered at $2.00 per share		-		-		-		-		-		-
Net Loss at September 30, 2006		-		-		-		-		-		-
Balance at September 30, 2006		228,652	$	2,286		47,518	$	475		95,500	$	955

						Additional						Other						Total
	Common shares					Paid in			Treasury			Comprehensive			Accumulated			Stockholders'
	Shares		Amount			Capital			Stock			Income (loss)			Deficit			Deficiency
Balance at December 31, 2005, as adjusted for Securities Purchase Agreement (Note 1) and reverse stock split (Note 12)		16,035,222	$	240,400		$	253,781		$	-		$	31,997		$	(966,983	)	$	(440,805	)
Shares issued to Kraft RT shareholders in exchange for 95.5% of issued and outstanding Kraft RT shares in connection with Securities Purchase Agreement on June 14, 2006 (Note1 )		-		-			(955	)		-			-			-			-
Reclassification of Kraft equity with Share Exchange Agreement Transfer				(240,400	)		240,400			-			-			-			-
Effect of merger with Solar Thin Films, Inc. (formerly American Global United) and assumption of liabilities on June 14, 2006 (Note 1)				160,352			(163,113	)		(80,000	)		-			(6,681,891	)		(6,781,891	)
Common stock issued in September 2006 for services rendered at $2.00 per share (Notes 1 and 8)		234,375		2,344			466,406			-			-			-			468,750
Net Income at September 30, 2006		-		-			-			-			(36,071	)		3,507,105			3,471,034
Balance at September 30, 2006		16,269,597	$	162,696		$	796,519		$	(80,000	)	$	(4,074	)	$	(4,141,769	)	$	(3,262,912	)

See accompanying notes to the unaudited condensed consolidated financial statements

F-6

SOLAR THIN FILMS, INC

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

	Nine months ended September 30,
	2006			2005
CASH FLOWS FROM OPERATING ACTIVITIES:		RESTATED
Net Income	$	3,507,105		$	76,149
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation		35,564			24,526
Provision for doubt accounts		-			36,411
Common stock issued for services rendered		468,750			-
Forgiveness of debt-net		-			(202,340	)
Amortization of deferred financing costs		59,918			-
Amortization of debt discounts		826,631			-
Unrealized gain on change in fair value of warrant liabilities		(5,757,000	)		-
Loss on disposal of fixed assets		23,366			-
(Increase) decrease in:
Accounts receivable		(699,555	)		87,114
Inventory		(465,778	)		66,307
Prepaid expenses		(189,329	)		35,894
Advances and other current assets		40,891			10,219
Other assets		(7,891	)		-
Increase (decrease) in:
Accounts payable and accrued liabilities		680,502			(233,245	)
Advances received from customers		509,043			67,822
Other current liabilities		(2,545	)		(2,844	)
Net cash used in operations		(970,328	)		(33,987	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash acquired in connection with merger with American United Global		5,258,503			-
Acquisition of property, plant and equipment		(411,278	)		(30,801	)
Net cash provided by (used in) investing activities:		4,847,225			(30,801	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Cash provided by notes payable, other-net		979,948			497,439
Cash provided(used in) notes payable, related party		(433	)		113,356
Net cash provided by financing activities:		979,515			610,795

Effect of currency rate change on cash		(36,071	)		469

Net increase in cash and cash equivalents		4,820,341			546,476
Cash and cash equivalents at beginning of period		33,081			25,909
Cash and cash equivalents at end of period	$	4,853,422		$	572,385

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest		-			806
Cash paid during the period for taxes		-			7,454
NON CASH INVESTING AND FINANCING ACTIVITIES
Common stock issued for services rendered		468,750			-
Abandonment of fixed asset-net of book value, in exchange for forgiveness of debt		-			16,008

See accompanying notes to the unaudited condensed consolidated financial statements

F-7

SOLAR THIN FILMS, INC

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2006

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The accompanying unaudited condensed consolidated financial statements of Solar Thin Films, formerly known as American United Global Inc., (the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-QSB. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Accordingly, the results from operations for the three and nine month period ended September 30, 2006, are not necessarily indicative of the results that may be expected for the year ended December 31, 2006. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated December 31, 2005 financial statements and footnotes thereto included in the Company's SEC Form 8-K dated June 14, 2006 as filed with the SEC on July 17, 2006.

Business and Basis of Presentation

The Company is incorporated under the laws of the State of Delaware, and is in the business of designing, manufacturing and marketing Solar Panel equipment on a world wide basis.

The consolidated financial statements include the accounts of the Company and its wholly and majority- owned subsidiaries, Kraft, Rt. and Superior Ventures Corp. All significant intercompany balances and transactions have been eliminated in consolidation.

Merger and Corporate Restructure

On June 14, 2006, the Company entered into a Securities Purchase Agreement (“Agreement” or “Merger”) with Kraft Rt. ("Kraft”), a company formed under the laws of the country of Hungary. As a result of the Merger, there was a change in control of the public entity. In accordance with SFAS No. 141, Kraft was the acquiring entity. While the transaction is accounted for using the purchase method of accounting, in substance the Agreement is a recapitalization of Kraft's capital structure.

For accounting purposes, the Company accounted for the transaction as a reverse acquisition and Kraft is the surviving entity. The total purchase price and carrying value of net assets acquired was $(6,681,891). The Company did not recognize goodwill or any intangible assets in connection with the transaction. Prior to the Agreement, the Company was an inactive corporation with no significant assets and liabilities.

Effective with the Agreement, 95.5% of previously outstanding shares of its common stock owned by the Kraft’s shareholders were exchanged for an aggregate of 95,500 shares of the Company’s newly issued Series B-4 Preferred Stock (the “Series B-4 Preferred”). The Series B-4 Preferred are each automatically convertible into 350 shares of common stock or an aggregate of 33,425,000 shares of the Company’s common stock. The conversion is subject to the Company increasing its authorized shares of common stock. Under the Agreement, prior to such conversion, each Series B-4 Preferred share will have the voting rights equal to 350 shares of common stock and vote together with the shares of common stock on all matters.

The value of the stock that was issued was the historical cost of the Company's net tangible assets, which did not differ materially from their fair value.

The accompanying financial statements present the historical financial condition, results of operations and cash flows of Kraft, Rt. prior to the merger with American United Global.

F-8

SOLAR THIN FILMS, INC

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2006

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

The total consideration paid was $(6,681,891) and the significant components of the transaction are as follows:

American United Global, Inc. Summary Statement of Financial Position At June 14, 2006
Current Assets:
Cash	$	5,258,503
Other assets:
Deferred loan costs, net of accumulated amortization of $-0-		607,500
Notes receivable-Kraft RT		1,500,000

Current Liabilities:
Note payable - unsecured		(1,500,000	)
Accrued interest and other		(1,435,200	)
Long Term liabilities:
$525,000 Convertible debenture; less unamortized debt discount of $266,935		(258,065	)
$1,250,000 Convertible debenture; less unamortized debt discount of $1,140,988		(109,012	)
$6,000,000 Convertible debenture; less unamortized debt discount of $6,000,000		-0-
Warrant liability		(10,821,900	)

Preferred stock: series B-1		(2,287	)
Preferred stock: series B-3		(475	)
Preferred stock: series B-4		(955	)
Treasury stock, at cost		80,000

Net liabilities assumed	$	(6,681,891	)

The net liabilities assumed is accounted for as a recapitalization of the Company’s capital structure and , accordingly the Company has charged the $ 6,681,891 to accumulated deficit during the nine period ended September 30, 2006.

Subsequent to the date of the financial statements, the Company changed its name from American United Global Inc. to Solar Thin Films, Inc.

Revenue Recognition

For revenue from product/contract sales, the Company recognizes revenue in accordance with Staff Accounting Bulletin No. 104, Revenue Recognition (“SAB 104"), which superceded Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements (“SAB 101"). SAB 101 requires that four basic criteria must be met before revenue can be recognized: 1) Persuasive evidence of an arrangement exists; 2) delivery has occurred; 3) the selling price is fixed and determinable; and 4) collectibility is reasonably assured.

F-9

SOLAR THIN FILMS, INC

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2006

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue Recognition (continued)

Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectibility of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company defers any revenue for which the product has not been delivered or is subject to refund until such time that the company and the customer jointly determine that the product has been delivered or no refund will be required. Deferred revenues as of September 30, 2006 are $608,281. SAB 104 incorporates Emerging Issues Task Force 00-21 (“EITF 00-21"), Multiple-Deliverable Revenue Arrangements. EITF 00-21 addresses accounting for arrangements that may involve the delivery or performance of multiple products, services and/or rights to use assets. The effect of implementing EITF 00-21 on the Company’s financial position and results of operations was not significant.

The Company recognizes revenue when persuasive evidence of an arrangement exists, the price to the customer is fixed, collectibility is reasonable assured and title and risk of ownership is passed to the customer, which is usually upon shipment. However, certain customers traditionally have requested to take title and risk of ownership prior to shipment. Revenue for these transactions are recognized only when:

1. Title and risk of ownership have passed to the customer;

2. The Company has obtained a written fixed purchase commitment;

3. The customer has requested the transaction be on a bill and hold basis;

4. The customer has provided a delivery schedule;

5. All performance obligations related to the sale have been completed;

6. The product has been processed to the customer’s specifications, accepted by the customer and made ready for shipment;

7. The product is segregated and is not available to fill other orders.

The remittance terms for these “bill and hold” transactions are consistent with all other sale by the company. There were no bill and hold transactions at September 30, 2006.

Currently, there are no warranties provided with the purchase of the Company‘s products. The cost of replacing defective products and product returns have been immaterial and within management’s expectations. In the future, when the Company deems warranty reserves are appropriate that such costs will be accrued to reflect anticipated warranty costs.

Research and Development

The Company accounts for research and development costs in accordance with the Financial Accounting Standards Board’s Statement of Financial Accounting Standards No. 2 (“SFAS 2"), “Accounting for Research and Development Costs.” Under SFAS 2, all research and development cost must be charged to expense as incurred. Accordingly, internal research and developments cost is expensed as incurred.

Third-party research and developments costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred expenditures of $-0- and $97,475 on research and product development for the three and nine months ended September 30, 2006 and 2005, respectively

Reclassification

Certain reclassifications have been made to conform to prior periods’ data to the current presentation. These reclassifications had no effect on reported losses.

F-10

SOLAR THIN FILMS, INC

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2006

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Stock Based Compensation

In December 2002, the FASB issued SFAS No. 148, “Accounting for Stock-Based Compensation-Transition and Disclosure-an amendment of SFAS 123.” This statement amended SFAS 123, “Accounting for Stock-Based Compensation,” to provide alternative methods of transition for a voluntary charge to the fair value based method of accounting for stock-based employee compensation. In addition, this statement amended the disclosure requirements of SFAS No. 123 to require prominent disclosures in both annual and interim financial statements about the method of accounting for stock-based employee compensation and the effect of the method used on reported results. Effective for the nine months ended September 30, 2006 the Company has adopted SFAS 123 (R) which supersedes APB Opinion No. 25, “Accounting for Stock Issued to Employees” and eliminates the intrinsic value method that was provided in SFAS 123 for accounting of stock-based compensation to employees. The Company made no employee stock-based compensation grants before December 31, 2005 and during the nine months ended September 30, 2006 and therefore has no unrecognized stock compensation related liabilities or expense unvested or vested prior to 2006 and for the nine months ended September 30, 2006.

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that effect 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 reporting periods. Actual results could differ from those estimates.

Comprehensive Income (Loss)

The Company adopted Statement of Financial Accounting Standards No. 130; “Reporting Comprehensive Income” (SFAS) No. 130 establishes standards for the reporting and displaying of comprehensive income and its components. Comprehensive income is defined as the change in equity of a business during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. SFAS No. 130 requires other comprehensive income (loss) to include foreign currency translation adjustments and unrealized gains and losses on available for sale securities.

Foreign Currency Translation

The Company translates the foreign currency financial statements in accordance with the requirements of Statement of Financial Accounting Standards No. 52, “Foreign Currency Translation”. Assets and liabilities are translated at current exchange rates in effect during the period. Resulting translation adjustments are recorded as a separate component in stockholder’s equity. Foreign currency transaction gains and losses are included in the statement of shareholders equity and the statement of operations when applicable.

Net income (loss) per share

The following reconciliation of net income and share amounts used in the computation of income (loss) per share for the three and nine months ended September 30, 2006 and 2005:

	Three Months Ended September 30, 2006		Nine Months Ended September 30, 2006		Three Months Ended September 30, 2005		Nine Months Ended September 30, 2005
Net income used in computing basic net income per share	$	2,629,918	$	3,507,105	$	44,968	$	76,149
Impact of assumed assumptions:
Amortization of debt discount (interest expense) on convertible debentures		704,167		826,631		-		-
Impact of equity classified as liability: