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EX-32.2 - CERTIFICATION OF CFO - TEEN EDUCATION GROUP, INC.ex32-2.htm
EX-31.2 - CERTIFICATION OF CFO - TEEN EDUCATION GROUP, INC.ex31-2.htm
EX-31.1 - CERTIFICATION OF CEO - TEEN EDUCATION GROUP, INC.ex31-1.htm
EX-32.1 - CERTIFICATION OF CEO - TEEN EDUCATION GROUP, INC.ex32-1.htm



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q/A
Amendment #1

(Mark One)

/X/  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2009.

OR

/ /  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION FROM _______ TO ________.


COMMISSION FILE NUMBER: 333-147045


TEEN EDUCATION GROUP, INC.
_________________________________________________________________
(Exact Name of Small Business Issuer as Specified in its Charter)



        DELAWARE
                26-032648
       _______________________________
                ___________________
       (State or other jurisdiction of
       incorporation or organization)
                (I.R.S. Employer
                Identification No.)
   
   
   
       6767 W. Tropicana Ave., Suite 207
       Las Vegas, NV
 
                89103
       ________________________________________
                __________
       (Address of principal executive offices)
                (Zip code)


Issuer's telephone number: (702) 248-1027


N/A
______________________________________________
(Former name, former address and former fiscal
year, if changed since last report.)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the  preceding 12 months (or for such  shorter  period that the  registrant  was required  to file  such  reports),  and  (2) has  been  subject  to such  filing requirements for the past 90 days.     Yes / X /    No /   /


-1-



 
 

Indicate by check mark whether the registrant is a large  accelerated  filer, an accelerated filer, a non-accelerated  filer or a smaller reporting company.  See definitions  of "large  accelerated  filer,"  "accelerated  filer" and  "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated
Filer
Accelerated filer
Non-accelerated filer
(Do not check if a smaller
reporting company)
Smaller
reporting
company
 
[    ]
 
[    ]
 
[    ]
 
[ X ]
 

Indicate by check mark whether the  registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes  / X /    No /   /

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:

At March 31, 2009, and as of the date hereof, there were outstanding 2,250,000 shares of the Registrant's Common Stock, $.001 par value.

Transitional Small Business Disclosure Format:     Yes /   /    No / X /


-2-
 
 
 

PART I

FINANCIAL INFORMATION


ITEM 1.                      Financial Statements



TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)





MARCH 31, 2009
DECEMBER 31, 2008














-3-



 
 


TEEN EDUCATION GROUP, INC.
(A DEVELOPMENT STAGE ENTERPRISE)

CONTENTS




 
   
FINANCIAL STATEMENTS - UNAUDITED
 
   
Balance Sheets
5
   
Statements of Operations
6
   
Statements of Stockholders' Equity
7
   
Statements of Cash Flows
8
   
Notes to Financial Statements
9-12
 












-4-
 
 

TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
BALANCE SHEETS


 
 

 
March 31,2009
 (Unaudited)
 
December 31,
2008
 

 
ASSETS
             
CURRENT ASSETS
           
    Cash
  $ 833     $ 833  
                 
          Total current assets
  $ 833     $ 833  
                 
             Total assets
  $ 0     $ 0  
                 

LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
           
    Accounts payable
  $ 199     $ 0  
    Officers advances
    14,521       11,681  
                 
          Total current liabilities
  $ 14,720     $ 11,681  
                 
STOCKHOLDERS’ DEFICIT
               
    Preferred stock: $.001 par value;
               
       authorized 5,000,000 shares; none issued or
               
       outstanding at December 31, 2008 and
               
       December 31, 2007
    0       0  
    Common stock: $.001 par value;
               
       authorized 100,000,000 shares; issued
               
       and outstanding:  2,250,000 shares at
               
       March 31, 2009 and December 31, 2008
    2,250       2,250  
       Additional paid-in capital
    27,750       27,750  
    Accumulated deficit during development stage
    (43,887 )     (40,848 )
                 
          Total stockholders’ deficit
  $ (13,887 )   $ (10,848 )
                 
             Total liabilities and
               
             stockholders’ deficit
  $ 833     $ 833  



See Accompanying Notes to Financial Statements
 
-5-
 
 
 
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
STATEMENTS OF OPERATIONS
(UNAUDITED)
 

 
                   
 
  Three  Months Ended        
   
March 31,
2009
   
March 31
2008
   
Apr. 19, 2007
(inception) to
March 31,
2009
 
 
 
                 
Revenues
  $ 0     $ 0     $ 0  
                         
Cost of revenue
    0       0       0  
                         
Gross profit
  $ 0     $ 0     $ 0  
General, selling and
                       
administrative expenses
    3,039       3,100       43,889  
Operating loss
  $ (3,039 )   $ (3,100 )   $ (43,889 )
                         
Nonoperating income (expense)
    0       0       2  
                         
Net loss
  $ (3,039 )   $ (3,100 )   $ (43,887 )
                         
                         
Net loss per share, basic
                       
and diluted
  $ (0.00 )   $ (0.00 )        
                         
Average number of shares
                       
of common stock outstanding
    2,250,000       2,250,000          
                         

See Accompanying Notes to Financial Statements
 
-6-


 
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
STATEMENTS OF STOCKHOLDERS’ DEFICIT
(UNAUDITED)

                     
Accumulated
       
                     
Deficit
       
         
 
   
Additional
   
During
       
   
Common Stock
   
Paid-In
   
Development
       
   
Shares
   
Amount
   
Capital
   
Stage
   
Total
 
                               
 April 17, 2007, issue common stock
    2,000,000     $ 2,000     $ 3,000     $ 0     $ 5,000  
December 27, 2007, issue SB-2 common stock
    250,000       250       24,750       0       25,000  
Net loss, December 31, 2007
                            (9,116 )     (9,116 )
Balance, December 31, 2007
    2,250,000     $ 2,250     $ 27,750     $ (9,116 )   $ 20,884  
Net loss, December 31, 2008
                            (31,732 )     (31,732 )
                                         
Balance, December 31, 2008
    2,250,000     $ 2,250     $ 27,750     $ (40,848 )   $ (10,848 )
Net loss, March 31, 2009
                            (3,039 )     (3,039 )
                                         
Balance, March 31, 2009
    2,250,000     $ 2,250     $ 27,750     $ (43,887 )   $ (13,887 )
 
 
See Accompanying Notes to Financial Statements
 
 
-7-
 
 
 
 
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
STATEMENTS OF CASH FLOWS
(UNAUDITED)

                   
 
 
Three Months Ended
   
Apr. 19, 2007
(inception) to
 
   
March 31,
2009
   
March 31
2008
   
March 31,
2009
 
 
Cash Flows From
                 
Operating Activities
                 
    Net loss
  $ (3,039 )   $ (3,100 )   $ (43,887 )
    Adjustments to reconcile net loss
    to cash used in operating activities:
                       
    Changes in assets and liabilities
    Increase (decrease) in accounts payable
                       
    199       2,100       199  
                         
       Net cash used in
       operating activities
                       
  $ (2,840 )   $ (1,000 )   $ (43,688 )
                         
Cash Flows From
                       
Investing Activities
  $ 0     $ 0     $ 0  
                         
Cash Flows From
                       
Financing Activities
                       
    Issuance of common stock
  $ 0     $ 0     $ 30,000  
    Increase in officer advances
    2,840       1,000       14,521  
                         
       Net cash provided by
       financing activities
                       
  $ 0     $ 0     $ 44,521  
                         
       Net increase (decrease)
       in cash
                       
  $ 0     $ 0     $ 833  
                         
Cash, beginning of period
    833       833     $ 0  
                         
Cash, end of period
  $ 833     $ 833     $ 833  
                         
                         
Supplemental Information and Non-monetary Transactions:
                       
                         
Interest paid
  $ 0     $ 0     $ 0  
                         
Taxes paid
  $ 0     $ 0     $ 0  
 
 
See Accompanying Notes to Financial Statements
 
-8-
 
 

 
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
 

 
 
Note 1. Nature of Business and Significant Accounting Policies
 

Nature of business:

Teen Education Group, Inc. (“Company”) was organized April 16, 2007 under the laws of the State of Delaware.  The Company currently has no operations and, in accordance with Statement of Financial Accounting Standard (SFAS) No. 7, “Accounting and Reporting by Development Stage Enterprises,” is considered a Development Stage Enterprise.


A summary of the Company’s significant accounting policies is as follows:

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect 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 period.  Actual results could differ from those estimates.

Cash

For the Statements of Cash Flows, all highly liquid investments with maturity of three months or less are considered to be cash equivalents.  There were no cash equivalents as of March 31, 2009 and December 31, 2008.

Income taxes

Income taxes are provided based upon the liability method of accounting pursuant to Statement of Financial Accounting Standards No. 109 “Accounting for Income Taxes.”  Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.  A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by SFAS No. 109 to allow recognition of such an asset. See Note 5.
 
 
-9-
 
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

 
Note 1.  
Nature of Business and Significant Accounting Policies (continued)
 

 
Effective November 1, 2007, the Company adopted the Financial Accounting Standards Board (“FASB”) Interpretation No. 48, Accounting for Uncertainty in Income Taxes—an interpretation of FASB Statement No. 109 (“FIN 48”). FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with FASB Statement No. 109, Accounting for Income Taxes. FIN 48 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Additionally, FIN 48 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The adoption of FIN 48 did not have a material impact on the Company’s financial position, results of operation or liquidity.  The current Company policy classifies any interest recognized on an underpayment of income taxes as interest expense and classifies any statutory penalties recognized on a tax position taken as selling, general and administrative expense.

Share Based Expenses

In December 2004, the Financial Accounting Standards Board ("FASB") issued SFAS No. 123R "Share Based Payment." This statement is a revision to SFAS 123 and supersedes Accounting Principles Board (APB) Opinion No. 25, "Accounting for Stock Issued to Employees," and amends FASB Statement No. 95, "Statement of Cash
Flows." This statement requires a public entity to expense the cost of employee services received in exchange for an award of equity instruments. This statement also provides guidance on valuing and expensing these awards, as well as disclosure requirements of these equity arrangements. The Company adopted SFAS No. 123R upon creation of the company and expenses share based costs in the period incurred.

Going concern

The Company's financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have cash, or material assets, nor does it have operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. The Company will be dependent upon the raising of additional capital through placement of our common stock in order to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company.

 
Note 2. Stockholders’ Equity
 

Common Stock

The authorized common stock of the Company consists of 100,000,000 shares with par value of $0.001.  On April 17, 2007 the Company authorized and issued 2,000,000 shares of its $.001 par value common stock in consideration of $5,000 in cash.

-10-
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)


 
Note 2.  
Stockholders’ Equity (continued)
 

On December 12, 2007 the Company initiated an SB-2 offering, selling 250,000 common shares at $0.01 per share, raising $25,000. On December 21, 2007 the offering was completed. The 250,000 common shares were delivered December 31, 2007.

Preferred Stock

The authorized preferred stock of the Company consists of 5,000,000 shares with a par value of $0.01. The Company has no preferred stock issued or outstanding as of March 31, 2009 and December 31, 2008.


Net Loss Per Common Share

Net loss per share is calculated in accordance with FASB ASC 260, “Earnings Per Share.   The weighted-average number of common shares outstanding during each period is used to compute basic loss per share.  Diluted loss per share is computed using the weighted averaged number of shares and dilutive potential common shares outstanding.  Dilutive potential common shares are additional common shares assumed to be exercised.

Basic net loss per common share is based on the weighted average number of shares of common stock outstanding of 2,250,000 during 2009, 2008, and since inception.  As of March 31, 2009 and December 31, 2008 and since inception, the Company had no dilutive potential common shares.

 
Note 3.  
 Income Taxes
 

We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Per Statement of Accounting Standard No. 109 – Accounting for Income Tax and FASB Interpretation No. 48 - Accounting for Uncertainty in Income Taxes an interpretation of FASB Statement No.109, when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit.  We provided a full valuation allowance on the net deferred tax asset, consisting of net operating loss carry-forwards, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carry-forward period.

The net federal operating loss carry forward will expire between 2027 and 2028.  This carry forward may be limited upon the consummation of a business combination under IRC Section 381.
 
 
 
-11-
 
 
TEEN EDUCATION GROUP, INC.
(A Development Stage Enterprise)
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)


Note 4.  
Related Party Transactions

The Company neither owns nor leases any real or personal property.  An officer or resident agency of the corporation provides office services without charge.  Such costs are immaterial to the financial statements and accordingly, have not been reflected therein.  The officers and directors for the Company are involved in other business activities and may, in the future, become involved in other business opportunities.  If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interest.  The Company has not formulated a policy for the resolution of such conflicts. As of March 31, 2009 and December 31, 2008, the company owed officers $14,521 and $11,681 respectively.

Note 5.  
Warrants and Options

There are no warrants or options outstanding to acquire any additional shares of common stock of the Company.
 
 
-12-
 
 
 
 
 
ITEM 2.                       MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Generally.

Teen Education Group, Inc. was incorporated on April 19, 2006 in the State of Delaware.

Principal Services.

We had  been in the process of establishing ourselves as providing a financial literacy and money management  educational  program for teenagers on a fee for service offered basis.

The current  financial  crisis has had an adverse  effect on our ability to attract  students.  We are currently  inactive and we will remain inactive until such time as the economy starts to improve.  We may also seek out other business opportunities.

Financial Condition.

Since we have had a limited  operating  history and have not  achieved  any revenues  or earnings  from  operations,  with  limited  significant  assets and financial  resources,  we  will in all  likelihood  sustain  operating  expenses without  corresponding  revenues,  at least  until we commence  our  educational activities.

Liquidity.

As of December 31,  2008,  we had assets of $833 and total  liabilities  of $11,681 and we had a negative net worth of $10,848. As of March 31, 2009, we had $833 in assets  and total  liabilities  of $15,175  and a negative  net worth of $14,342.

We have had no revenues from inception through December 31, 2008 and we had no revenues for the period ended March 31, 2009.  We have a loss from  inception through December 31, 2008 of $40,848 and a loss from inception through March 31, 2009 of $44,342.

We have  officer's  advances of $11,681 from inception to December 31, 2008 and $15,175 as at March 31, 2009.

Shell Issues.

On June 29, 2005,  the  Securities and  Exchange  Commission  adopted final rules  amending the Form S-8 and the Form 8-K for shell  companies  like us. The amendments expand the definition of a shell company to be broader than a company with no or  nominal  operations/assets  or  assets  consisting  of cash and cash equivalents,  the  amendments  prohibit  the use of a From S-8 (a form used by a corporation to register  securities  issued to an employee,  director,  officer, consultant or advisor, under certain circumstances),  and revise the Form 8-K to require a shell  company  to  include  current  Form 10  information,  including audited financial  statements,  in the filing on Form 8-K that the shell company files to report  the  acquisition  of the  business  opportunity.  The rules are designed to assure that investors in shell companies that acquire  operations or assets  have  access  on a timely  basis to the same kind of  information  as is available to investors in public companies with continuing operations.

On February 15, 2008, the Securities and  Exchange Commission adopted final rules  amending  Rule 144  (and  Rule  145) for  shell  companies  like us.  The amendments  currently in full force and effect provide that the current  revised holding periods applicable to affiliates and non-affiliates is not now available for securities  currently  issued by either a reporting or  non-reporting  shell company,  unless certain  conditions are met. An investor will be able to resell securities  issued by a shell  company  subject  to Rule 144  conditions  if the reporting or non-reporting  issuer (i) had ceased to be a shell, (ii) is subject to the 1934 Act  reporting  obligations,  (iii) has filed all required  1934 Act reports  during  the  proceeding  twelve  months,  and (iv) at least 90 days has elapsed from the time the issuer has filed the "Form 10 Information"  reflecting the fact that it had ceased to be a shell  company  before any  securities  were sold Rule 144.

 
-13-
 
 

ITEM 3.                      QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable to smaller reporting companies.

ITEM 4.                      CONTROLS AND PROCEDURES.

Internal  control over financial  reporting  refers to the process designed by, or under the supervision of, our Chief Executive Officer and Chief Financial Officer, and effected by our Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial  statements for external purposes in accordance with generally accepted accounting  principles,  and includes those policies and procedures that:

·  
Pertain  to the  maintenance  of  records  that in  reasonable  detail accurately and fairly reflect the transactions and dispositions of our assets;

·  
Provide  reasonable   assurance  that  transactions  are  recorded  as necessary to permit preparation of financial  statements in accordance with generally accepted accounting  principles,  and that our receipts and expenditures are being made only in accordance with  authorization of our management and directors; and

·  
Provide reasonable  assurance regarding prevention or timely detection of  unauthorized  acquisitions,  use or disposition of our assets that could have a material effect on the financial statements.

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations.  It is a process that involves  human  diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures.  It also can be circumvented by collusion or improper management override.

Because of such  limitations,  there is a risk that material  misstatements may not be  prevented  or detected on a timely  basis by internal  control  over financial reporting.  However,  these inherent limitations are known features of the financial  reporting process.  Therefore,  it is possible to design into the process  certain  safeguards  to  reduce,  thought  not  eliminate,  this  risk. Management is responsible for  establishing  and intaining  adequate  internal control  over  our  financial  reporting.  To avoid  segregation  of duty due to management  accounting size,  management had engaged an outside CPA to assist in the financial reporting.

Management has used the framework set forth in the report entitled Internal Control  -  Integrated  Framework  published  by  the  Committee  of  Sponsoring Organizations  of the  Treadway  Commission,  known as  COSO,  to  evaluate  the effectiveness of our internal control over financial reporting.  Based upon this assessment,  management had concluded  that our internal  control over financial reporting was  effective as of and for the year ended  December 31, 2008 and the current quarter then ended.

The Company is not an "accelerated  filer" for the current fiscal year because it is qualified as a "small  business  issuer."  Hence,  under  current law, the internal controls  certification and attestation  requirements of Section 404 of the Sarbanes-Oxley act will not apply to the Company.

        Our disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) are designed to provide reasonable assurance that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, such as this quarterly report on Form 10-Q, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.  Our disclosure controls and procedures are also designed to ensure that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

        Our Chief Executive Officer and Chief Financial Officer have conducted an evaluation of the effectiveness of our disclosure controls and procedures.  We perform this evaluation on a quarterly basis so that the conclusions concerning the effectiveness of our disclosure controls and procedures can be reported in our quarterly reports on Form 10-Q and annual report on Form 10-K.  Based on this evaluation, our Chief Executive Officer and Chief Financial Officer are required to conclude on the effectiveness of the disclosure controls and procedures as at the end of the quarter covered by this report.
 
 
-14-
 

 
        The Company's disclosure controls and procedures and internal controls over financial reporting were not effective at each of March 31, 2009, June 30, 2009 and September 30, 2009, due to the Company's inadvertent failure to include in its conclusion in the quarterly reports on Form 10-Q for quarters thereafter ended management's assessment of disclosures controls and procedures and management’s inadvertent failure to include additional comparative information in the financial statements.

        As a result of our ineffective controls and procedures, we took and are taking measures to enhance the ability of our systems of disclosure controls and procedures to timely identify and respond to changes in the applicable securities filing regulations that are applicable to us.

Changes in Internal Controls

        There were no changes in our internal controls over financial reporting that occurred during the period covered by this report that have materially affected, or is reasonably likely to materially affect our internal controls over financial reporting.
 
 
         In March 2010, we initiated changes in our disclosure controls and procedures and internal controls over financial reporting that addressed our material weaknesses.  We instituted new reporting and approval procedures that have remediated the disclosed material weaknesses.


 
-15-
 
 

 

PART II

OTHER INFORMATION

ITEM 1.                      LEGAL PROCEEDINGS                                                                             None

ITEM 1A.                  RISK FACTORS.

In addition to the Risk Factors contained in the Form 10-K previously filed with the Commission,  the following  additional risk factors should be carefully considered:

1.             We  have  had no  operating  history  nor any  revenues  or  earnings  from operations and we are insolvent.

 
We have no assets  or  financial  resources.  We will,  in all  likelihood, sustain operating expenses without  corresponding  revenues,  at least until the consummation  of a business  combination.  This may result in us incurring a net operating  loss  that  will  increase  continuously  until we can  consummate  a business  combination  with  a  profitable  business  opportunity.  There  is no assurance that we can identify such a business opportunity and consummate such a business combination.

Our  auditor's  going  concern  opinion and the  notation in the  financial statements  indicate  that we do not have  significant  cash or  other  material assets and that we are  relying on  advances  from  stockholders,  officers  and directors to meet our limited  operating  expenses.  We are insolvent in that we are unable to pay our debts in the  ordinary  course of  business as they become due.

2.             Our proposed plan of operation is speculative.

The success of our proposed plan of operation will depend to a great extent on the operations, financial condition and management of the identified business opportunity.  While  management  intends to seek  business  combination(s)  with entities having established operating histories,  there can be no assurance that we will be successful in locating candidates meeting such criteria. In the event we  complete a business  combination,  of which there can be no  assurance,  the success of our operations may be dependent upon management of the successor firm or venture partner firm and numerous other factors beyond our control.

3.             We face intense competition for business opportunities and combinations.

We are and will continue to be an insignificant participant in the business of seeking mergers with,  joint ventures with and  acquisitions of small private and public entities.  A large number of established and well-financed  entities, including  venture  capital  and hedge fund  firms,  are  active in mergers  and acquisitions of companies that may be our desirable  target  candidates.  Nearly all such entities have  significantly  greater  financial  resources,  technical expertise and managerial capabilities than we have and, consequently, we will be at a competitive disadvantage in identifying possible business opportunities and
successfully  completing a business combination.  Moreover, we will also compete in seeking  merger or  acquisition  candidates  with numerous other small public companies.

4.             We have no agreements for a business  combination or other  transaction and have established no standards for a business combination.

We have no arrangement, agreement or understanding with respect to engaging in a merger  with,  joint  venture with or  acquisition  of, a private or public entity.  There can be no assurance that we will be successful in identifying and evaluating   suitable  business   opportunities  or  in  concluding  a  business combination.  Management has not identified any particular  industry or specific business  within an industry for our  evaluation.  There is no assurance that we will be able to negotiate a business  combination  on terms  favorable to us. We have not established a specific length of operating history or a specified level of earnings,  assets, net worth or other criteria which it will require a target business opportunity to have achieved, and without which we would not consider a business combination in any form with such business opportunity. Accordingly, we may enter into a business  combination  with a  business  opportunity  having no significant  operating  history,  losses,  limited or no potential for earnings, limited assets, negative net worth or other negative characteristics.

 
 
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5.             The  reporting  requirements  under  federal  securities  law may  delay or prevent us from making certain acquisitions.

Sections 13 and 15(d) of the  Securities  Exchange Act of 1934, as amended, (the  "1934  Act"),   require  companies  subject  thereto  to  provide  certain
information  about  significant  acquisitions,   including  certified  financial statements  for the  company  acquired,  covering  one,  two,  or  three  years, depending on the relative size of the acquisition. The time and additional costs
that may be incurred by some target  entities  to prepare  such  statements  may significantly  delay  or  essentially  preclude  consummation  of  an  otherwise desirable aquisition by the Company.  Acquisition prospects that do not have or are unable to obtain the required audited  statements may not be appropriate for acquisition  so  long  as  the  reporting  requirements  of  the  1934  Act  are applicable.

In addition to the audited financial statements,  in the filing of the Form 8-K  that we file to  report  an event  that  causes  us to cease  being a shell company,  we will be  required  to include  that  information  that is  normally
reported  by a company in a Form 10. The time and  additional  costs that may be incurred by some target  entities to prepare and disclose such  information  may
significantly  delay  or  essentially  preclude  consummation  of  an  otherwise desirable acquisition by the Company.

6.             At the time we do any  business  combination,  each  shareholder  will most likely hold a substantially lesser percentage ownership in the Company.

Our current plan of operation is based upon a business  combination  with a private  concern that, in all  likelihood,  would result in the Company  issuing securities  to  shareholders  of any such private  company.  The issuance of our previously  authorized  and  unissued  Common Stock would result in reduction in percentage of shares owned by our present and prospective  shareholders  and may result in a change in our control or in our management.

7.             Our officers and directors are the principal  shareholders and will be able to approve  all  corporate  actions  without  shareholder  consent and will control our Company.

Our principal  shareholder,  Robert L. Wilson,  currently own approximately 89% of our Common Stock.  He will have  significant  influence  over all matters requiring  approval by our  shareholders,  but not requiring the approval of the minority shareholders.  In addition, he will be able to elect all of the members of our board of directors,  allowing them to exercise significant control of our affairs and  management.  In addition,  he may transact most  corporate  matters requiring  shareholder  approval by written consent,  without a duly-noticed and duly-held meeting of shareholders.

8.             Our Common Stock may be subject to significant restriction on resale due to federal penny stock restrictions.

The  Securities  and Exchange  Commission  has adopted  rules that regulate broker or dealer  practices in  connection  with  transactions  in penny stocks. Penny stocks  generally  are equity  securities  with a price of less than $5.00 (other than securities  registered on certain national  securities  exchanges or quoted on the Nasdaq system,  provided that current price and volume information with  respect to  transactions  in such  securities  is provided by the exchange system).  The  penny  stock  rules  require  a  broker  or  dealer,  prior  to a transaction in a penny stock not otherwise  exempt from the rules,  to deliver a standardized  risk disclosure  document  prepared by the Securities and Exchange Commission that provides information about penny stocks and the nature and level of risks in the penny stock  market.  The broker or dealer also must provide the customer with bid and offer  quotations for the penny stock, the compensation of the  broker or dealer,  and its  salesperson  in the  transaction,  and  monthly account  statements  showing  the market  value of each penny  stock held in the
customer's  account.  The  penny  stock  rules  also  require  that  prior  to a transaction in a penny stock not otherwise exempt from such rules, the broker or dealer  must  make a  special  written  determination  that a penny  stock  is a
suitable  investment  for the  purchaser  and  receive the  purchaser's  written agreement to the transaction.

These disclosure  requirements may have the effect of reducing the level of trading  activity in any secondary  market for our stock that becomes subject to the penny stock rules,  and  accordingly,  shareholders  of our Common Stock may find it difficult to sell their securities, if at all.




ITEM 2.                      Unregistered Sales of Equity Securities and Use Proceeds.................None

ITEM 3.                      Defaults Upon Senior Securities...............................................................None

ITEM 4.                      Submission of Matter to a Vote of Security Holders.............................None

ITEM 5.                      Other Information........................................................................................None

ITEM 6.                      Exhibits

There  were no  reports  on Form 8-K filed in the  quarter  for which  this report is filed. The following exhibits are filed with this report:

31.1 Rule 13a-14(a)/15d-14(a) - Certification of Chief Executive Officer.

31.2 Rule 13a-14(a)/15d-14(a) - Certification of Chief Financial Officer.

32.1 Section 1350 Certification - Chief Executive Officer.

32.1 Section 1350 Certification - Chief Financial Officer.

 
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SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Dated: March 30, 2010

                                                                                                                                                                                                      TEEN EDUCATION GROUP, INC.



                         By: /s/ ROBERT L. WILSON
                         ____________________________________________
                         Robert L. Wilson
                         President (Principal Executive Officer),
                         and Director



                         By: /s/ ROBERT L. WILSON
                         ____________________________________________
                         Robert L. Wilson
                         Principal Financial Officer

 
 

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