RS GROUP COMPANIES INC (fka RSGC)

[HDOGTX]

RSGC a little of my DD:

02/13/07 SC 13G A statement of beneficial ownership of common stock by certain persons

Item 6.
Ownership of More than Five Percent on Behalf of Another Person.

GMCM is a registered investment advisor whose clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the Stock. Gruber & McBaine are the Managers, controlling persons and portfolio managers of GMCM. No individual clients holdings of the Stock are more than five percent of the outstanding Stock

Item 6 Ownership of More than Five Percent on Behalf of Another Person

02/13/07 SC 13G/A An amendment to the SC 13G filing 1

Clients for whom ZCG acts as investment adviser may withdraw
dividends or the proceeds of sales from the accounts managed by
ZCG. No single client account owns more than 5% of the class of
securities.

Zesiger Capital Group LLC is a money management firm committed to maximizing total returns on assets under management.

RS Group of Companies, Inc. (the "Company") is a holding company for an integrated group of insurance and finance-related businesses and affinity program managers. The Company has developed and is implementing a strategy to design, structure and sell a broad series of pass-through risk, specialty insurance backed and reinsurance platform products throughout North America.

Canadian Intermediaries Limited (CIL)

CIL is a Lloyd's of London Coverholder, which is a person authorized by Lloyd's to accept or to issue insurance documents evidencing the acceptance of risks on behalf of Lloyd's underwriting agents. CIL provides us the ability to specialize in `hard-to-place' liability insurance and credit insurance.

For the three months ended March 31, 2006 and 2005, revenue from insurance underwriting premiums amounted to approximately $4.1 million and $3.6 million , respectively. For the three months ended March 31, 2006 and 2005, approximately 86% and 96% of our underwriting insurance premiums were generated under a
coverholder agreement with Lloyd's of London.

06/09/06 10QSB Quarterly report filed by small businesses 2

PROPOSED MERGER

On December 31, 2005, the Company entered into a letter agreement (the "Agreement") with SII, pursuant to which the Company confirmed its intent to enter into a merger transaction. In such transaction, the Company will merge with and into SII or an affiliate, subsidiary or successor entity thereof (the "Merger Entity"), whereby the Merger Entity would be the surviving entity in the merger (the "Merger").

On January 20, 2006, we announced that by definitive merger agreement the Company and Strategy entered into a letter agreement stating that we would merge with and into Strategy or an affiliate, subsidiary or successor entity thereof, had agreed to merge effective December 31, 2005.

Dashwood, Brewer & Phipps Ltd. (Dashwood)

We own 49% of the issued share capital of Dashwood, a Lloyd's Insurance Broker in London, England. The investment in Dashwood is carried at equity, adjusted for the Company's proportionate share of Dashwood's undistributed earnings or losses.

Results of Operations

Three Months Ended March 31, 2006 and 2005

Summary

Revenues for 2006 were $4,094,374 compared to $3,617,069 for 2005.

Gross profit for 2006 was $410,463 compared to $319,373 for 2005.

Liquidity and Capital Resources


At March 31, 2006, we had cash and cash equivalents of $1,054,019, an increase of $565,604 from the cash and cash equivalents balance of $488,415 at December 31, 2005.