Quarterly Report (10-q)
October 02 2019 - 11:19AM
Edgar (US Regulatory)
October 2, 2019
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: Sept 30, 2019
I.R.S. Employer Identification No. 59-3420985
17164 Dune View Dr # 106 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 September 30, 2019
/_/ 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
(State or other jurisdiction of
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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
SMALL
Smaller Reporting Company: Yes X NO ___
Emerging Growth Company: Yes X NO ___
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Indicate whether registrant is a shell company: Yes ___ NO X
MOST RECENT CLOSING PRICE $.0001 PER SHARE. There is no bid for our
common stock while ACCR is traded on the grey sheets.
AS OF THE CLOSE OF BUSINESS OCTOBER 2, 2019, THE AGGREGATE MARKET
CAPITALIZATION ON A FULLY DILUTED BASIS IS $244,144.12, BASED ON A
CLOSING PRICE OF $.0001 PER SHARE.
****CURRENT UPDATE****
pjensen@myaccess-power.com
http://www.myaccess-power.com
https://www.otcmarkets.com/stock/ACCR/profile
We own the following websites:
http://www.mycbdpets.com
http://www.grandhavenmedicalmarijuana.com
http://www.grandrapidsmedicalmarijuana.com
http://www.mimedicalmarijuana.com
http://www.mi-medicalmarijuana.com
http://www.ca-medicalmarijuana.com
http://www.uclamarijuana.com
http://www.uscmarijuana.com
http://www.dubaimedicalmarijuana.com
ACCR recently filed a FORM 1120 US Corporation Income Tax. This represents
the first tax return filed by our Corporation with the Internal Revenue
Service in 18 years.
As of October 2, 2019
Authorized Common Stock: 500,000,000
Outstanding Common Stock: 244,144,121
Estimated Float: Less than 5,000,000
Restricted Common Stock: 129,641,475
As of October 1, 2019, we have $1.45 in our Premiere Checking account now.
Our #1 GOAL IS TO GET ACCESS-POWER, INC OFF THE GREY SHEETs.
I hope to accomplish the unthinkable, and that is bring back our company
from the grey sheets to a quote service with OTCMarkets.com. There are
only a handful of Companies that have accomplished this unthinkable feat.
I would like to save enough money in the Premiere Checking account,
to one day pay their $5,000.00 fee in order to file a Company Disclosure
with OTCMarkets.com. This may not occur until 2020. However, I am a
skilled salesman, and will try my very best to save money in the Premiere
Checking account over time. I personally own about 54% of the common
stock of this Corporation, and have full control over our destiny.
Very best regards,
PATRICK
Part I. Financial Information
Item 1. Financial Statements
ACCESS-POWER, INC.
(An Emerging Growth Company)
UNAUDITED
Balance Sheets Comps
Assets
September 30, June 30,
2019 2019
------------------ -------------------
(unaudited)
Current assets:
Cash $ 1.58 $ 500.00
CDs
Accounts receivable $ 0 $ 0
Prepaid expenses $1,000.00 $ 0
---------------------------------------
Total current assets $1,000.00 $ 500.00
---------------------------------------
Property and equipment, net $ 0 $ 0
Other assets $ 0 $ 0
---------------------------------------
Total assets $1,01.58 $ 500.00
=======================================
Liabilities and
Stockholders' Equity
(Deficit)
Current liabilities:
Accounts payable and accrued
expenses $0 $ 0
Current portion of
long-term debt - -
Total current liabilities $ 0 $ 0
Convertible debentures $ 0 $ 0
------------------ ------------------
Total liabilities $ 0 $ 0
---------------------------------------
Stockholders' equity
(deficit):
Common stock,
$.001 par value,
authorized
500,000,000 shares,
issued and outstanding
244,144,121 $244,144.12 $244,144.12
=======================================
Total liabilities
and stockholders'
equity (deficit) $244,144.12 $244,144.12
=======================================
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ACCESS-POWER, INC
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS (unaudited)
THREE MONTHS ENDED September 30, 2019:
CASH FLOW
REVENE $
COST OF REVENUE $ 2,000.00
----------------------------------------------------------
GROSS PROFIT (LOSS) $ 1,950.00
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OPERATING EXPENSES
Selling, general and administrative exp
rent, and utilities $ 0.00
Consulting fees $ 0.00
Professional fees and related expenses $ 50.00
TOTAL OPERATING EXPENSES $ 0.00
Salaries $ 1,950.00
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 $ 0.00
PROVISION FOR INCOME TAXES
treated as prepaid expense on
balance sheet $ 0.00
NET (LOSS) INCOME $ (000.00)
BASIC (LOSS) INCOME PER SHARE
DILUTED (LOSS) INCOME PER SHARE $ nil
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING BASIC 244,144,121 shares
RESTRICTED SHARES 129,641,475 shares
ESTIMATED FLOAT LESS THAN 5,000,000 shares to
10,000,000 shares
/s/
Patrick J Jensen
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Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
Overview and Plan of Operation
Business Overview
Access-Power, INC, or ACCR is a public holding company that serves the
various sectors in our economy. As of today, we only service the Work at
Home business model. Access-Power, Inc. has one (1) key employee.
We were incorporated back on October 10, 1996. There was a change in
control in the Registrant on June 4, 2018.
ACCR is not currently offering any stock for sale.
Any stock to be purchased is available in the open market.
We are currently quoted in the grey market of the OTC.
We are current in our obligation to report with the SEC.
Access-Power, INC owns at the moment Hunter Venture, a Michigan
for profit Limited Liability Corporation. On June 4, 2018, Hunter
Venture became a wholly owned subsidiary of the Corporation.
Patrick J Jensen is a director with our company, and currently the only
employee working with Hunter Venture.
We had a FINRA processed name change, and made the daily sheet list
in September 2018:
https://otce.finra.org/otce/dailyList
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: $24,414.41
At $.001 BID, the entire value of the Company shares on a fully
diluted basis is: $244,144.12
At $.01 BID, the entire value of the Company shares on a fully
diluted basis is: $2,441,441.21
At $.06 BID, the entire value of the Company shaes on a fully
diluted basis is: $14,648,647.26
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, Inc. will forever employ good management decisions.
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.
Patrick J Jensen profile on LinkedIn:
https://www.linkedin.com/in/patrick-j-jensen-564946b4
At a closing price of $.0001, the whole Company is valued at $24,414.21
My contact information is:
pjensen@myaccess-power.com
616-312-5390
Our comeback song:
https://www.youtube.com/watch?v=xbhCPt6PZIU
Access-Power, Inc. was the victim of naked convertible short selling. The
previous funders through BISH gutted our Company stock, and left it on the
side of the road to die. I am going to bring us back from the DEAD.
There is NO DILUTION PERIOD in Access-Power, INC.
I have a vision to one day to generate revenue with http://www.mycbdpets.com,
and offer a home delivery service of Medical Marijuana clones in a brown
paperbag only to our Medical Marijuana patients in the area. We own $1,000.00
worth of symbolic seeds with clonning potential to help our dreams come true.
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
President, Treasurer, and Director
October 2, 2019
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Caution Concerning Forward Looking Statements:
Please also see our annual reports on Form 10-K and quarterly reports on Form
10-Q that we file with the SEC. Caution Concerning Forward Looking Statements
Our public communications and SEC filings may contain "forward-looking
statements" - that is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected future business
and financial performance and financial condition, and o ften contain words
such as "expect," "anticipate," "intend," "plan," " believe," "seek," "see,"
"will," and "would." This section contains important information about
our forward-looking statements
Forward-looking statements by their nature address matters that are, to
different degrees, uncertainty and statements about potential business or asset
dispositions. For us, particular uncertainties that could cause our actual
results to be materially different than those expressed in our forward-looking
statements.
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