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¨
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QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
|
¨
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
|
Nevada
|
20-2781289
|
|
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
|
|
incorporation
or organization)
|
Identification
No.)
|
|
Bath
House
|
||
|
8
Chapel Place
|
||
|
London,
Great Britain
|
EC2A
3DQ
|
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
Large
accelerated filer
¨
|
Accelerated
filer
¨
|
|
Non-accelerated
filer
¨
(Do not check if
a smaller reporting company)
|
Smaller
reporting company
x
|
|
•
|
our
ability to raise capital to finance our growth and operations, when needed
and terms advantageous to us;
|
|
•
|
the
ability to manage growth, profitability and the marketability of our
products and services;
|
|
•
|
general
economic and business conditions;
|
|
•
|
the
effect on our business of recent credit-tightening throughout the
world;
|
|
•
|
the
impact of developments and competition within the fossil fuels and
alternative energy industries;
|
|
•
|
adverse
results of any legal proceedings;
|
|
•
|
the
impact of current, pending or future legislation and regulation on the
fossil fuels and alternative energy industries, including, but not limited
to, changes in zoning and environmental laws and
regulations;
|
|
•
|
our
ability to maintain and enter into relationships with suppliers, vendors
or contractors of acceptable quality of goods and services on terms
advantageous to us;
|
|
•
|
changes
in foreign currency exchange rates;
|
|
•
|
political
and government changes in the countries (including local and regional
governments) in which we operate;
|
|
•
|
the
volatility of our operating results and financial
condition;
|
|
•
|
our
ability to attract and retain qualified senior management personnel;
and
|
|
•
|
the
other risks and uncertainties detailed in this Form 10-Q and, from time to
time, in our other filings with the Securities and Exchange
Commission.
|
|
CLENERGEN
CORPORATION
(An
Advanced Stage Development Company)
|
|
As of
|
As of
|
|||||||
|
January 31,
|
October 31,
|
|||||||
|
2010
|
2009
|
|||||||
|
(Unaudited)
|
(Audited)
|
|||||||
|
ASSETS
|
||||||||
|
Current
Assets
|
||||||||
|
Cash
|
$ | 370,294 | $ | 1,472 | ||||
|
Prepaid
expenses and other
|
4,551,650 | 15,039 | ||||||
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Total
Current Assets
|
16,511 | |||||||
|
Fixed
Assets
|
17,866 | 12,901 | ||||||
|
Other
|
50,209 | 33,487 | ||||||
|
Total
Assets
|
$ | 4,990,019 | $ | 62,899 | ||||
|
LIABILITIES
& STOCKHOLDERS' DEFICIENCY
|
||||||||
|
Current
Liabilities
|
||||||||
|
Accounts
Payable
|
$ | 365,348 | $ | 220,956 | ||||
|
Advances
from stockholders and related parties
|
1,803,125 | 330,302 | ||||||
|
Total
Current Liabilities
|
2,168,473 | 551,258 | ||||||
|
Total
Liabilities
|
2,168,473 | 551,258 | ||||||
|
Stockholders'
Deficiency
|
||||||||
|
Preferred
stock, $.001 par value Authorized: 10,000,000 Issued: None
|
||||||||
|
Common
stock, ($0.001 par value, 150,000,000 shares
|
||||||||
|
authorized;
XXXXXX and 86,941,013 shares issued and outstanding
|
||||||||
|
as
of January 31, 2009 and October 31, 2009).
|
91,536 | 86,941 | ||||||
|
Additional
paid-in capital
|
9,800,401 | 3,998,562 | ||||||
|
Accumulated
Other Comprehensive Income/(Loss)
|
746,418 | 389,856 | ||||||
|
Deficit
accumulated during development stage
|
(7,816,809 | ) | (4,963,818 | ) | ||||
|
Total
Stockholders' Deficiency
|
2,821,546 | (488,359 | ) | |||||
|
TOTAL
LIABILITIES &
|
||||||||
|
STOCKHOLDERS'
DEFICIENCY
|
$ | 4,990,019 | $ | 62,899 | ||||
|
CLENERGEN
CORPORATION
(An
Advanced Stage Development Company)
Balance
Sheets
|
|
Three Months
|
Three Months
|
May 2, 2005
(inception)
|
||||||||||
|
Ended
|
Ended
|
through
|
||||||||||
|
January 31,
|
January 31,
|
January 31,
|
||||||||||
|
2010
|
2009
|
2010
|
||||||||||
|
ASSETS
|
||||||||||||
|
Revenues
|
||||||||||||
|
Revenues
|
$ | - | $ | - | $ | - | ||||||
|
Total
Revenues
|
- | - | - | |||||||||
|
Operating
Expenses
|
||||||||||||
|
Administrative
Expenses
|
3,097,108 | 9,905 | 5,785,883 | |||||||||
|
Research
and development
|
10,133 | 0 | 2,285,176 | |||||||||
|
Total
Operating Costs
|
3,107,241 | 9,905 | (8,071,059 | ) | ||||||||
|
Net
Loss
|
$ | 3,107,241 | $ | (9,905 | ) | $ | (8,071,059 | ) | ||||
|
Basic
earnings (loss) per share
|
$ | (0.00 | ) | $ | (0.05 | ) | ||||||
|
Weighted
average number of
|
||||||||||||
|
common
shares outstanding
|
20,950,539 | |||||||||||
|
Comprehensive
Loss:
|
||||||||||||
|
Net
Loss
|
3,107,241 | (9,905 | ) | |||||||||
|
Foreign
Currency Translation
|
746,418 | (405,107 | ) | |||||||||
|
Comprehensive
Loss
|
3,853,659 | (415,012 | ) | |||||||||
|
CLENERGEN
CORPORATION
(An
Advanced Stage Development Company)
|
|
Three Months
Ended
January 31,
2010
|
Three Months
Ended
January 31,
2009
|
May 2, 2005
(inception)
Through
January 31,
2010
|
||||||||||
|
CASH
FLOWS FROM OPERATING ACTIVITIES
|
||||||||||||
|
Net
loss
|
$ | (3,107,241 | ) | $ | (9,905 | ) | $ | (8,071,059 | ) | |||
|
Adjustments
to reconcile net loss to net cash
|
||||||||||||
|
provided
by (used in) operating activities:
|
||||||||||||
|
Depreciation
|
1,326 | - | 2,466 | |||||||||
|
Common
stock issued for compensation
|
3,830,125 | - | 3,830,125 | |||||||||
|
Changes
in operating assets and liabilities:
|
||||||||||||
|
Increase
(decrease) in Accounts Payable
|
144,391 | 40 | 365,347 | |||||||||
|
Deposits
|
(16,722 | ) | - | (50,209 | ) | |||||||
|
(Increase)/Decrease
in Prepaid Expenses
|
||||||||||||
|
Net
cash used in operating activities
|
(3,351,772 | ) | (9,865 | ) | 8,142,020 | |||||||
|
CASH
FLOWS FROM INVESTING ACTIVITIES
|
||||||||||||
|
Net
cash used in investing activities
|
(6,290 | ) | (8,816 | ) | (20,331 | ) | ||||||
|
CASH
FLOWS FROM FINANCING ACTIVITIES
|
||||||||||||
|
Issuance
of common stock
|
- | |||||||||||
|
Additional
paid-in capital
|
- | |||||||||||
|
Net
cash provided by (used in) financing activities
|
- | |||||||||||
|
Net
increase (decrease) in cash
|
(13 | ) | ||||||||||
|
Cash
at beginning of period
|
13 | |||||||||||
|
Cash
at end of period
|
$ | $ | - | $ | ||||||||
|
SUPPLEMENTAL
DISCLOSURES OF CASH FLOW INFORMATION
|
||||||||||||
|
Cash
paid during period for :
|
||||||||||||
|
Interest
|
$ | - | $ | - | $ | - | ||||||
|
Income
Taxes
|
$ | - | $ | - | $ | - | ||||||
|
Three Months Ended
July 31
|
||||||||
|
2009
|
2008
|
|||||||
|
Revenue
|
$ |
Nil
|
$ |
Nil
|
||||
|
Operating
Expenses
|
$ | 3,107,241 | $ | 2,612 | ||||
|
Net
Loss
|
$ | (3,107,241 | ) | $ | (2,612 | ) | ||
|
Three Months Ended
July 31
|
||||||||
|
2009
|
2008
|
|||||||
|
Administrative
expenses
|
$ | 3,098,765 | $ | 612 | ||||
|
Professional
fees
|
$ | 8,476 | $ | 2,000 | ||||
|
Working Capital
|
||||||||||||
|
At January
31, 2009
|
At October
31, 2008
|
Percentage
Increase/Decrease
|
||||||||||
|
Current
Assets
|
$ | 4,972,153 | $ | 59,230 | (99.39 | )% | ||||||
|
Current
Liabilities
|
$ | 2,168,473 | $ |
Nil
|
- | % | ||||||
|
Working
Capital
|
$ | 2,803,680 | $ | 59,230 | (116.93 | )% | ||||||
|
Cash Flows
|
||||||||
|
Threee Months Ended
January 31
|
||||||||
|
2009
|
2008
|
|||||||
|
Net
Cash Provided by (Used in) Operating Activities
|
$ | ( 58,867 | ) | $ | (7,341 | ) | ||
|
Net
Cash Provided by (Used In) Investing Activities
|
$ |
Nil
|
$ |
Nil
|
||||
|
Net
Cash Provided by Financing Activities
|
$ |
Nil
|
$ |
Nil
|
||||
|
Increase
(Decrease) In Cash During The Period
|
$ | (58,867 | ) | $ | (7,341 | ) | ||
|
Estimated Expenses for the Next Twelve Month Period
|
||||
|
Operating
Expenses
|
$ | 452,561.18 | ||
|
Management
and Consulting
|
438,995.70 | |||
|
General
and Administrative
|
618,621.30 | |||
|
Total
|
$ | 1,510,178.18 | ||
|
Exhibit
|
||
|
Number
|
Exhibit Description
|
|
|
31.1
|
Rule
13a-14(a)/15d-14(a) Certification of Principal Executive
Officer.
|
|
|
31.2
|
Rule
13a-14(a)/15d-14(a) Certification of Principal Financial
Officer.
|
|
|
32.1
|
Section
1350 Certification of Principal Executive Officer.
|
|
|
32.2
|
|
Section
1350 Certification of Principal Financial
Officer.
|
|
Dated: March
22, 2009
|
Clenergen
Corporation
|
|
|
By:
|
/s/ Mark L. M. Quinn
|
|
|
Mark
L. M. Quinn
|
||
|
Chief
Executive Officer
|
||
|
(Duly
Authorized Officer
|
||
|
and
Principal Executive Officer)
|
||
|
By:
|
/s/ Mike Starkie
|
|
|
Mike
Starkie
|
||
|
Acting
Chief Financial Officer
|
||
|
(Principal
Financial and Accounting
Officer)
|
||
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|