UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G/A (RULE 13D-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13D-1(B), (C) AND (D) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2 (AMENDMENT NO. 3)* QUEPASA CORPORATION (NAME OF ISSUER) Common Stock (TITLE OF CLASS OF SECURITIES) 74833W206 (CUSIP NUMBER) February 14, 2008 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ X ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 74833W206 13G PAGE 1 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric W. Levin IRA Rollover 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER None. 6. SHARED VOTING POWER 135,767 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 135,767 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 135,767 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.1% 12. TYPE OF REPORTING PERSON EP CUSIP NO. 74833W206 13G PAGE 2 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric W. Levin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER 243,324 6. SHARED VOTING POWER 990,720 7. SOLE DISPOSITIVE POWER 243,324 8. SHARED DISPOSITIVE POWER 990,720 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,234,044 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.8% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 3 OF 22 PAGES 1. NAME OF REPORTING PERSONS Wende A. Cohen 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER None. 6. SHARED VOTING POWER 19,300 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 19,300 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,300 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.2% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 4 OF 22 PAGES 1. NAME OF REPORTING PERSONS Sefra A. Levin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER None. 6. SHARED VOTING POWER 3,500 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 3,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,500 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 5 OF 22 PAGES 1. NAME OF REPORTING PERSONS Jesse A. Levin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER 457 6. SHARED VOTING POWER 2,500 7. SOLE DISPOSITIVE POWER 457 8. SHARED DISPOSITIVE POWER 2,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,957 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 6 OF 22 PAGES 1. NAME OF REPORTING PERSONS Wende Cohen Custodian for Sarah Jane Cohen UTMA 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER None. 6. SHARED VOTING POWER 13,275 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 13,275 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,275 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 7 OF 22 PAGES 1. NAME OF REPORTING PERSONS Wende Cohen Custodian for Clayton Alexander Cohen UTMA 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 12,500 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 12,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 12,500 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 8 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric Levin Trustee Kim E. Levin Trust 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 7,500 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 7,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,500 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 9 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric Levin Trustee Amy G. Levin Trust 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 2,460 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 2,460 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,460 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 10 OF 22 PAGES 1. NAME OF REPORTING PERSONS Martha J. Levin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 17,100 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 17,100 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 17,100 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 11 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric Levin Trustee Martha J. Levin Trust u/t/a dated 10/9/1987 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 4,000 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 4,000 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,000 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 12 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric Levin Trustee Martha J. Levin Trust u/t/a dated 7/10/1980 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 400 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 400 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 400 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 13 OF 22 PAGES 1. NAME OF REPORTING PERSONS Carla Strobel 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER 2,675 6. SHARED VOTING POWER 2,500 7. SOLE DISPOSITIVE POWER 2,675 8. SHARED DISPOSITIVE POWER 2,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,175 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 14 OF 22 PAGES 1. NAME OF REPORTING PERSONS John Brophy Custodian for Abygaele Evelyn Brophy UTMA 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 2,500 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 2,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 15 OF 22 PAGES 1. NAME OF REPORTING PERSONS John Brophy Custodian for Catherine Mary Brophy UTMA 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 2,500 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 2,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 16 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric Levin Custodian for Henry Levin UTMA 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 1,500 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 1,500 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON OO CUSIP NO. 74833W206 13G PAGE 17 OF 22 PAGES 1. NAME OF REPORTING PERSONS Puddy & Doggie, LLC 20-8519143 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 19,800 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 19,800 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,800 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.2% 12. TYPE OF REPORTING PERSON LLC CUSIP NO. 74833W206 13G PAGE 18 OF 22 PAGES 1. NAME OF REPORTING PERSONS Valcor Partners, LLC 20-3873083 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 19,400 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 19,400 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 19,400 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.2% 12. TYPE OF REPORTING PERSON LLC CUSIP NO. 74833W206 13G PAGE 19 OF 22 PAGES 1. NAME OF REPORTING PERSONS Amy L. Greenbaum 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 5,000 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 5,000 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,000 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 20 OF 22 PAGES 1. NAME OF REPORTING PERSONS Marilyn Kern 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 3,000 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 3,000 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,000 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Less than 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 21 OF 22 PAGES 1. NAME OF REPORTING PERSONS Kenneth J. Bagan 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 15,000 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 15,000 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 15,000 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.1% 12. TYPE OF REPORTING PERSON IN CUSIP NO. 74833W206 13G PAGE 22 OF 22 PAGES 1. NAME OF REPORTING PERSONS Fredric Levin IRRA FBO Fredric W. Levin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ X ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5.SOLE VOTING POWER None. 6. SHARED VOTING POWER 701,218 7. SOLE DISPOSITIVE POWER None. 8. SHARED DISPOSITIVE POWER 701,218 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 701,218 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.5% 12. TYPE OF REPORTING PERSON EP ITEM 1. (A) NAME OF ISSUER: Quepasa Corporation (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 7550 E. Redfield Rd., Suite A Scottsdale, AZ 85260 ITEM 2. (A) NAMES OF PERSONS FILING: See Cover Pages, Item 1. This Amendment No. 3 is being filed to reflect the holdings of the Reporting Persons as of March 3, 2008. (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: All Reporting Persons (as defined below), except for the individuals reported below: c/o Fredric W. Levin 16 S. Main Street #303 Norwalk, CT 06854 Carla Strobel 29 Blue Ribbon Drive Westport, CT 06880 Jesse A. Levin and/or Sefra A. Levin 30 Beachside Avenue Westport, CT 06880 John Brophy (as custodian) 373 South River Road Calverton, NY 11933 Marilyn Kern 225 Central Park West Apt. 1501 New York, NY 10024 Kenneth Jay Bagan c/o Medical Screening Devices 5727 West Howard Street Niles, IL 20714 (C) CITIZENSHIP: See Cover Pages, Item 4. (D) TITLE OF CLASS OF SECURITIES: Common Stock (including securities which represent a right to acquire Common Stock pursuant to Rule 13d-3(d)(1)) (E) CUSIP NO.: 74833W206 ITEM 3. STATEMENT FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B) OR (C): Not applicable. ITEM 4. OWNERSHIP See Cover Pages, Items 5 through 11. Amounts shown as beneficially owned are as of March 3, 2008. The approximate percentages of shares of Common Stock reported as beneficially owned by the Reporting Persons (as defined below) are based upon 12,640,761 shares of Common Stock outstanding as of February 22, 2008, as reported by the Issuer's Chief Financial Officer to the Reporting Persons. The securities are held directly by the various parties listed on the cover pages (the "Reporting Persons"). Fredric Levin shares voting and investment control over such securities (other than 457 shares held by Jesse Levin and 2,675 shares held by Carla Strobel) and may be deemed to be the beneficial owner of such securities. Jesse Levin owns 100% of the interests in Valcor Partners, LLC, but Fredric Levin is its manager and has voting and investment control over the shares held by it. Sefra A. Levin owns 100% of the interests in Puddy & Doggie, LLC, but Fredric Levin is its manager and has voting and investment control over the shares held by it. By making this filing, the Reporting Persons acknowledge that they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in connection with the securities of the Company. Each Reporting Person disclaims the existence of a "group" and disclaims beneficial ownership of all shares of Common Stock other than any shares reported herein as being owned by him, her or it, as the case may be. ITEM 5. OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS. Not applicable. ITEM 6. OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. See identities of Reporting Persons on cover pages. See disclaimer in Item 4. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable. ITEM 10. CERTIFICATIONS. By signing below each of the Reporting Persons certifies that, to the best of his, her or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE Each of the undersigned hereby agrees that this Amendment to Schedule 13G with respect to the shares of Common Stock of Quepasa Corporation has been filed on behalf of the undersigned. After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this statement with respect to such entity or individual is true, complete and correct. Dated: March 4, 2008 FREDRIC W. LEVIN IRA ROLLOVER FREDRIC W. LEVIN WENDE A. COHEN SEFRA A. LEVIN JESSE A. LEVIN WENDE COHEN CUSTODIAN FOR SARAH JANE COHEN UTMA WENDE COHEN CUSTODIAN FOR CLAYTON ALEXANDER COHEN UTMA FREDRIC LEVIN TRUSTEE KIM E. LEVIN TRUST FREDRIC LEVIN TRUSTEE AMY G. LEVIN TRUST MARTHA J. LEVIN FREDRIC LEVIN TRUSTEE MARTHA J. LEVIN TRUST U/T/A DATED 10/9/1987 FREDRIC LEVIN TRUSTEE MARTHA J. LEVIN TRUST U/T/A DATED 7/10/1980 CARLA STROBEL FREDRIC LEVIN CUSTODIAN FOR HENRY LEVIN UTMA PUDDY & DOGGIE, LLC VALCOR PARTNERS, LLC AMY L. GREENBAUM JOHN BROPHY CUSTODIAN FOR CATHERINE MARY BROPHY UTMA JOHN BROPHY CUSTODIAN FOR ABYGAELE EVELYN BROPHY UTMA MARILYN KERN KENNETH JAY BAGAN FREDRIC W. LEVIN IRRA FBO FREDRIC W. LEVIN By: /s/ Fredric Levin Fredric W. Levin, Individually and as Attorney-in-fact for the Above-listed Reporting Persons