July 1, 2020
Quarterly Report Under Section 13 or 15(d) of
The Securities Exchange Act of 1934
Commission File Number 333-65069
EXACT NAME as this appears in our Charter: Access-Power, Inc.
YEAR: 1996
STATE OF INC: FLORIDA
QUARTERLY REPORT PERIOD ENDING: June 30, 2020
I.R.S. Employer Identification No. 59-3420985
PO BOX 598
Grand Haven, MI 49417
(Address of principal executive office) (Zip Code)
Issuer's telephone number, including area code: (616) 312-5390
_____________________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
/X/ Quarterly Report Under Section 13 or 15(d) of
The Securities Exchange Act of 1934
For the Quarterly Period Ended June 30, 2020
/_/ Transition Report Under Section 13 or 15(d) of The Exchange Act
Commission File Number 333-65069
Access-Power, Inc.
---------------------------------------------------------
(Exact Name of Small Business Issuer as Specified in its Charter)
Florida 59-3420985
(State or other jurisdiction of
Corporation or organization) (I.R.S. Employer Identification No.)
17164 Dune View Drive Apt 106, Grand Haven MI 49417
(Address of principal executive office) (Zip Code)
Issuer's telephone number, including area code: (616)312-5390
Transitional Small Business Disclosure Format (check one): Yes __ No X
Smaller Reporting Company: Yes X NO ___
Emerging Growth Company: Yes X NO ___
Indicate whether registrant is a shell company: Yes ___ NO X
MOST RECENT CLOSING PRICE $.0048 PER SHARE.
On October 18, 2019, we started trading in the PINK NO INFORMATION
tier of OTC Markets.
As of July 1, 2020, the Company is in advanced talks to go PINK CURRENT tier
within OTC Markets, and our expectation is within 30 days from the date of this
filing.
AS OF THE CLOSE OF BUSINESS JUNE 30, 2020, THE AGGREGATE MARKET
CAPITALIZATION ON A FULLY DILUTED BASIS IS $1,440,00
BASED ON A CLOSING PRICE OF $.0048 PER SHARE.
___________________________________________________________
My Dear Shareholders and the Commissioners of the SEC,
Access-Power & Co., Inc. a fixed DTC float Company with 98,376,146 shares.
We only have 1 Director with the Company since March 1, 2012. We have had
a long road of being victimized pre-2012. We were victims of a criminal toxic
floorless convertible debenture, which diluted and murdered our common stock
via our Transfer Agent. We have had the same Transfer Agent since May
1997, and our TA is SEC registered.
WE ONLY HAVE COMMON STOCK IN OUR SHARE STRUCTURE.
Our Share Structure remains:
AUTHORIZED 300,000,000 common shares
OUTSTANDING 300,000,000 common shares
PATRICK RESTRICTED 186,984,379 common shares or 62.3281% of VOTE
DTC CLEAR FLOAT 98,376,146 common shares held since 3/1/2012
https://www.otcmarkets.com/stock/ACCR/security
As of July 1, 2020 ----> we are in final discussions to be upgraded to PINK
CURRENT tier within OTC MARKETs, and the RED STOP SIGN will be
removed and replaced with a new PINK CURRENT logo. This has been a long
road for my Shareholders.
Our Corporation lives forever here:
http://www.sunbiz.org
A NEW EXECUTIVE MANAGEMENT TEAM IS VERBALLY ON BOARD.
As of July 1, 2020, we have $12,670.00 in our Premiere Checking account now.
We have 2 premiere checking accounts located within the US and
are FDIC Insured. CASH IS KING in today's market.
We plan to find a MARKET MAKER to file our FORM 211 with FINRA.
PATRICK
Part I. Financial Information
Item 1. Financial Statements
ACCESS-POWER, INC.
(An Emerging Growth Company)
Balance Sheets Comps Assets
March 31, June 30,
2020 2020
------------------------- --------------
(unaudited)
Current assets:
Cash $ 1,205.61 $12,670.00
CDs
Accounts receivable $ 0 $ 0
Prepaid expenses $1,500.00 $3,000.00
----------------------------- ------------
Total current assets $ $ 2,638.73 $15,670.00
--------------------------------------
Property and equipment, net $ 0 $ 1,000
Other assets $ 0 $ 0
---------------------------------------------------------
Total assets $ 2,638.73 $15,670.00
===================================
Liabilities and
Stockholders' Equity
(Deficit)
Current liabilities:
Accounts payable and accrued
expenses $2,000.00 $ 0
Current portion of long-term debt -
Total current liabilities $ 0 $ 0
Convertible debentures $ 0 $ 0
Total liabilities $2,000.00 $ 0
----------------------------------
Stockholders' equity
(deficit):
Common stock,
$.001 par value,
authorized
300,000,000 shares issues
=================================
Total liabilities
and stockholders'
equity (deficit) $300,000,000.00 $244,144.12
==================================
ACCESS-POWER, INC
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS (unaudited)
THREE MONTHS ENDED June 30 , 2020:
CASH FLOW
CASH REVENUE $ 11,370.50
COST OF REVENUE $ 0
---------------------------------------------------------------------------
GROSS PROFIT (LOSS) $ 11,370.00
OPERATING EXPENSES
Selling, general and administrative exp rent, and utilities $ 0.00
Consulting fees $ 0.00
Professional fees and related expenses $ 11,370.00
TOTAL OPERATING EXPENSES $ 0.00
Salaries $ 9,000.00
Fair value of derivative liability $ 0.00
OTHER INCOME nonrecurring $ 0.00
Gain on debt extinguishment $ 0.00
(LOSS) INCOME BEFORE PROVISION FOR $ 0.00
INCOME TAXES $ 11,370.00
PROVISION FOR INCOME TAXES
treated as prepaid expense on
balance sheet $ 0.00
NET (LOSS) INCOME $ 20,370.00
BASIC (LOSS) INCOME PER SHARE
DILUTED (LOSS) INCOME PER SHARE $ 0.12
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING BASIC 300,000,000 shares
RESTRICTED SHARES 201,625,854 shares
ESTIMATED FLOAT LESS THAN 98,376,146 shares
/s/
Patrick J Jensen
FUTURE EDGAR FILINGS WILL BE DONE BY THE NEW
EXECUTIVE MANAGEMENT TEAM COMING IN.....
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
Overview and Plan of Operation
OIL REVENUES TO BE DERIVED BY EMERGING MARKETS
COUNTRIES HAS CHANGED FOREVER. PATRICK HAS
NOT YET CLOSED ON PROMISED $50,000.00 CAPITAL
DONATION FOR THIS PINK CURRENT TO BE COMPANY.
Business Overview
ACCR will come back. We have multiple business segments.
I have a dream:
http://tsdr.uspto.gov/#caseNumber=88690325&caseType=
SERIAL_NO&searchType=statusSearch
ACCR is not currently offering any stock for sale.
Any stock to be purchased is available in the open market.
We are current in our obligation to report with the SEC. We plan to
file a FORM 10 with re-done 10Ks for 2018 and 2019 from a
PCAOB auditor. We are in final talks in receicing our ENGAGEMENT
LETTER. We have conference called our prospective PCAOB
auditor with the SEC's Chief Accountant's Office of the Division of
Corporate Finance at the SEC.
We want all partied involved to become comfortable.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
NONE.
Item 2. Changes in Securities and Use of Proceeds
NONE.
ILLUSTRATIVE PURPOSES BELOW:
At $.0001 BID, the entire value of the Company shares on a fully
diluted basis is: $30,000.00
At $.001 BID, the entire value of the Company shares on a fully
diluted basis is: $300,000.00
At $.01 BID, the entire value of the Company shares on a fully
diluted basis is: $3,000,000.00
At $.06 BID, the entire value of the Company shares on a fully
diluted basis is: $30,000,000.00
at $.100 BID the entire value of the Company shares on a fully
diluted basis is: $300,000,000.00
Management will make informed well processed decisions, and management
will succeed, as failure is not an option.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
There is no current risk with management. Everything is under control.
**********
Item 4. Controls and Procedures
Access-Power & Co., Inc. will FOREVER employ good management
decision making.
___________________________________________________
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
NONE
**********
Item 1A. Risk Factors
MANY
**********
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
NONE
**********
Item 3. Defaults Upon Senior Securities
NONE
**********
Item 4. Other Information
NONE.
**********
Item 5. Exhibits
(a) No Exhibits are being filed.
My contact information is:
pjensen@myaccess-power.com
616-312-5390
Our comeback song is, and be prepared for an
INCREDIBLE comeback soon:
The NEW INCOMING EXECUTIVE MANAGEMENT TEAM
will make all the day to day decision making for the Corporation.
Once the FORM 10 with the last 2 years of audited financials from
our Company IF APPROVED BY THE SEC, will bring fully
compliant our Company withing all aspects of the Securities Act of
'33 and the Exchange Act of '34.
May GOD BLESS my new incoming management team.
We just have a verbal commitment, and I believe in them.
https://www.youtube.com/watch?v=xbhCPt6PZIU
Access-Power, Inc. was the victim of naked convertible short selling.
This is the reason why we have a RED STOP SIGN at OTC
MARKETS.COM, and I am planning on getting rid of this very soon.
There is NO DILUTION PERIOD in Access-Power, INC.
I have a vision to do this merger. It has been my dream
to do this. I will do this. Why? This is a perfect time for a
classic reverse merger as an alternative
re-IPO process. I believe in myself,
Respectfully yours,
PATRICK
__________________________________________________
SIGNATURES*
Pursuant to the requirements 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.
In accordance with the requirements of the Exchange Act, the Company
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
ACCESS-POWER, INC.
BY:
/s/
Patrick J. Jensen
Director
July 1, 2020
The Sarbanes-Oxley Act of 2002 protects investors in publicly traded
companies by requiring employees to improve the "accuracy and reliability
of corporate disclosures, according to SOX-Online's Sarbanes-Oxley
Information Center. SOX defines individual accountability and requires
employees to practice due diligence and outlines criminal and
financial penalties for specific misconduct.
There are various risk factors that should be carefully considered in
evaluating our business; because such factors may have a significant impact
on our business, our operating results, our liquidity and financial condition.
As a result of these various risk factors, actual results could differ
materially from those projected in any forward-looking statements.
Additional risks and uncertainties not presently known to us, or that
we currently consider to be immaterial, may also impact our business, result
of operations, liquidity and financial condition. If any such risks occur,
our business, its operating results, liquidity and financial condition
could be materially affected in an adverse manner. Under such circumstances,
if a stable trading market for our securities is established, the trading price
of our securities could decline, and you may lose all or part of your
investment.
SECURITIES ISSUED BY THE COMPANY INVOLVE A HIGH DEGREE
OF RISK AND, THEREFORE, SHOULD BE CONSIDERED EXTREMELY
SPECULATIVE. THEY SHOULD NOT BE PURCHASED BY PERSONS
WHO CANNOT AFFORD THE POSSIBILITY OF THE LOSS OF THE
ENTIRE INVESTMENT. PROSPECTIVE INVESTORS SHOULD READ
ALL OF THE COMPANY'S FILINGS, INCLUDING ALL EXHIBITS, AND
CAREFULLY CONSIDER, AMONG OTHER FACTORS THE VARIOUS
RISK FACTORS THAT MAY BE PRESENT.
You should be aware that there are many substantial risks to an investment in
our common stock. Carefully consider these risk factors, along with any
available information currently reported by the Company
(of which there are note), before you decide to invest in shares of
our common stock.
If these risk factors were to occur, our business, financial condition, results
of operations or future prospects could be materially adversely affected.
If that happens, the market price for our common stock, if any,
could decline, and prospective investors would likely lose all or
even part of their investment.
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate", "believe", "estimate", "expect", "intend", and
similar expressions, as they relate to the Company or its management,
identify forward-looking statements. These statements are based on
current expectations, estimates, and projections about the Company's
business, based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve risks,
uncertainties, and assumptions that are difficult to predict.
Therefore, actual outcomes and results may, and probably will, differ
materially from what is expressed or forecasted in such forward-looking
statements due to numerous factors.
Contact Information:
Patrick J. Jensen
Director
Tel: 616.312.5390
Email: pjensen@myaccess-power.com
Corporate Website: http://www.myaccess-power.com
Access-Power & Co., Inc.
OTC Ticker: ACC
