Company Quick10K Filing
Renewable Energy Acquisition
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 1 $0
10-Q 2019-11-14 Quarter: 2019-09-30
10-Q 2019-08-14 Quarter: 2019-06-30
10-Q 2019-05-13 Quarter: 2019-03-31
10-K 2019-04-08 Annual: 2018-12-31
10-Q 2018-11-13 Quarter: 2018-09-30
10-Q 2018-08-14 Quarter: 2018-06-30
10-Q 2018-05-15 Quarter: 2018-03-31
10-K 2018-04-02 Annual: 2017-12-31
10-Q 2017-11-13 Quarter: 2017-09-30
10-Q 2017-08-14 Quarter: 2017-06-30
10-Q 2017-08-14 Quarter: 2017-06-30
10-Q 2017-05-15 Quarter: 2017-03-31
10-Q 2017-05-15 Quarter: 2017-03-31
10-K 2017-03-30 Annual: 2016-12-31
10-Q 2016-11-14 Quarter: 2016-09-30
10-Q 2016-08-05 Quarter: 2016-06-30
10-Q 2016-05-13 Quarter: 2016-03-31
10-K 2016-03-29 Annual: 2015-12-31
10-Q 2015-11-13 Quarter: 2015-09-30
10-Q 2015-08-12 Quarter: 2015-06-30
10-Q 2015-05-14 Quarter: 2015-03-31
10-K 2015-03-31 Annual: 2014-12-31
10-Q 2014-11-13 Quarter: 2014-09-30
10-Q 2014-08-12 Quarter: 2014-06-30
10-Q 2014-05-14 Quarter: 2014-03-31
10-K 2014-03-31 Annual: 2013-12-31
10-Q 2013-11-12 Quarter: 2013-09-30
10-Q 2013-08-14 Quarter: 2013-06-30
10-Q 2013-05-13 Quarter: 2013-03-31
10-Q 2012-08-13 Quarter: 2012-06-30
10-Q 2012-05-08 Quarter: 2012-03-31
10-K 2012-03-16 Annual: 2011-12-31
10-Q 2011-11-07 Quarter: 2011-09-30
10-Q 2011-08-15 Quarter: 2011-06-30
10-Q 2011-05-12 Quarter: 2011-03-31
10-K 2011-03-09 Annual: 2010-12-31
10-Q 2010-11-10 Quarter: 2010-09-30
10-Q 2010-08-13 Quarter: 2010-06-30
10-Q 2010-05-14 Quarter: 2010-03-31
8-K 2019-02-19 Accountant, Exhibits
8-K 2018-08-09 Accountant
REAC 2019-09-30
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Item 5 - Other Information
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6 - Exhibits
EX-31.1 reac005_ex31-1.htm
EX-32.1 reac005_ex32-1.htm

Renewable Energy Acquisition Earnings 2019-09-30

REAC 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
BLPG 0 2 5 3 1 -4 -4 -0 32% 0.0 -282%
VERY
TRWH
VIR
XTEG
WORK
VIE
UGRO
DGTW 0 0 3 -0 -0 -6 -4 -0 12,618% 0.0 -16,557%
BHAT

10-Q 1 reac005_10q.htm FORM 10-Q
 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

Form 10-Q

 

(Mark one)

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 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the transition period from ______________ to _____________

 

Commission File Number: 0-53900

 

Renewable Energy Acquisition Corp.

(Exact name of registrant as specified in its charter)

 

Nevada

74-3219044

(State of incorporation)

(IRS Employer ID Number)

 

10935 57th Avenue North, Plymouth, MN 55442

(Address of principal executive offices)

 

(952) 541-1155

(Issuer's telephone number)

 

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, 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 ¨

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES x NO ¨

 

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

 

Large accelerated filer ¨

Accelerated filer ¨

Non-accelerated filer ¨

Smaller reporting company x

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): YES x NO ¨

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading Symbol(s)

 

Name of each exchange on which registered

None

 

None

 

None

 

State the number of shares outstanding of each of the issuer's classes of common equity as of the latest practicable date: As of August 14, 2019, 700,000 shares of common stock, par value $0.0001, were outstanding.

 

 
 
 
 2 
 
 

Renewable Energy Acquisition Corp.

Balance Sheets

September 30, 2019 and December 31, 2018

 

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

ASSETS

 

 

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

-

 

 

$

1,663

 

Prepaid expenses

 

 

-

 

 

 

1,688

 

Total Current Assets

 

$

-

 

 

$

3,351

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

Accounts payable - trade

 

$

37,294

 

 

$

26,636

 

Short-term advances

 

 

17,000

 

 

 

17,000

 

Notes payable to stockholders

 

 

72,669

 

 

 

65,669

 

Accrued interest payable to stockholders

 

 

10,985

 

 

 

8,458

 

 

 

 

 

 

 

 

 

 

Total Current Liabilities

 

 

137,948

 

 

 

117,763

 

 

 

 

 

 

 

 

 

 

Commitments and Contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' Deficit

 

 

 

 

 

 

 

 

Preferred stock - $0.001 par value; 5,000,000 shares authorized; none issued and outstanding

 

 

-

 

 

 

-

 

Common stock - $0.001 par value; 50,000,000 shares authorized; 700,000 shares issued and outstanding

 

 

70

 

 

 

70

 

Additional paid-in capital

 

 

63,586

 

 

 

63,586

 

Accumulated deficit

 

 

(201,604

)

 

 

(178,068

)

 

 

 

 

 

 

 

 

 

Total Stockholders' Deficit

 

 

(137,948

)

 

 

(114,412

)

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders’ Deficit

 

$

-

 

 

$

3,351

 

 

The accompanying notes are an integral part of these financial statements

 
 
 3 
 

Renewable Energy Acquisition Corp.

Statements of Operations

Three and Nine Months Ended September 30, 2019 and 2018

 

 

 

For The Three Months Ended September 30,

 

 

For The Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Professional fees

 

 

2,950

 

 

 

1,651

 

 

 

16,156

 

 

 

12,507

 

Other expenses

 

 

1,036

 

 

 

-

 

 

 

2,742

 

 

 

25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

 

3,986

 

 

 

1,651

 

 

 

18,898

 

 

 

12,532

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(3,986

)

 

 

(1,651

)

 

 

(18,898

)

 

 

(12,532

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on short term advances

 

 

(842

)

 

 

-

 

 

 

(2,111

)

 

 

-

 

Notes payable to stockholders

 

 

(888

)

 

 

(1,049

)

 

 

(2,527

)

 

 

(3,149

)

Interest expense

 

 

(1,730

)

 

 

(1,049

)

 

 

(4,638

)

 

 

(3,149

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before provision for income taxes

 

 

(5,716

)

 

 

(2,700

)

 

 

(23,536

)

 

 

(15,681

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,716

)

 

$

(2,700

)

 

$

(23,536

)

 

$

(15,681

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per weighted-average share of common stock outstanding - basic and diluted

 

$

(0.01

)

 

$

(0.00

)

 

$

(0.03

)

 

$

(0.02

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares of common stock outstanding - basic and diluted

 

 

700,000

 

 

 

700,000

 

 

 

700,000

 

 

 

700,000

 

 

The accompanying notes are an integral part of these financial statements

 
 
 4 
 

Renewable Energy Acquisition Corp.

Statements of Cash Flows

For The Nine Months Ended September 30, 2019 and 2018

 

 

 

For The Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

Cash Flows from Operating Activities

 

 

 

 

 

 

 

 

Net loss

 

$

(23,536

)

 

$

(15,681

)

Adjustments to reconcile net loss to net cash used in operating activities

 

 

 

 

 

 

 

 

Interest expense contributed as capital by stockholders

 

 

-

 

 

 

945

 

Increase (decrease) in

 

 

 

 

 

 

 

 

Prepaid expenses

 

 

1,688

 

 

 

-

 

Accounts payable - trade

 

 

10,658

 

 

 

(372

)

Accrued interest payable

 

 

2,527

 

 

 

2,202

 

 

 

 

 

 

 

 

 

 

Net cash used in operating activities

 

 

(8,663

)

 

 

(12,906

)

 

 

 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

 

 

 

Cash received from short-term advances

 

 

-

 

 

 

12,000

 

Cash received from notes payable to stockholders

 

 

7,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Net cash provided by financing activities

 

 

7,000

 

 

 

12,000

 

 

 

 

 

 

 

 

 

 

Increase in Cash

 

 

(1,663

)

 

 

(906

)

 

 

 

 

 

 

 

 

 

Cash at beginning of period

 

 

1,663

 

 

 

1,878

 

 

 

 

 

 

 

 

 

 

Cash at end of period

 

$

-

 

 

$

972

 

 

 

 

 

 

 

 

 

 

Supplemental Disclosure of Interest and Income Taxes Paid

 

 

 

 

 

 

 

 

Interest paid during the period

 

$

-

 

 

$

-

 

Income taxes paid during the period

 

$

-

 

 

$

-

 

 

The accompanying notes are an integral part of these financial statements.

 
 
 5 
 

Renewable Energy Acquisition Corp.

Statement of Changes in Stockholders’ Deficit

For the Three and Nine Months Ended September 30, 2019 and 2018

 

 

 

Common Stock

 

 

Additional

paid in

 

 

Accumulated

 

 

 

 

 

 

Shares

 

 

Amount

 

 

capital

 

 

deficit

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of June 30, 2018

 

 

700,000

 

 

$

70

 

 

$

64,216

 

 

$

(170,583

)

 

$

(106,297

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contributed capital  from non-interest bearing notes payable to stockholders

 

 

-

 

 

 

-

 

 

 

315

 

 

 

-

 

 

 

315

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(2,700

)

 

 

(2,700

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2018

 

 

700,000

 

 

$

70

 

 

$

64,531

 

 

$

(173,283

)

 

$

(108,682

)

 

 

 

Common Stock

 

 

Additional

paid in

 

 

Accumulated

 

 

 

 

 

 

Shares

 

 

Amount

 

 

capital

 

 

deficit

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as June 30, 2019

 

 

700,000

 

 

$

70

 

 

$

63,586

 

 

$

(195,888

)

 

$

(132,232

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(5,716

)

 

 

(5,716

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2019

 

 

700,000

 

 

$

70

 

 

$

63,586

 

 

$

(201,604

)

 

$

(137,948

)

 

 

 

Common Stock

 

 

Additional

paid in

 

 

Accumulated

 

 

 

 

 

 

Shares

 

 

Amount

 

 

capital

 

 

deficit

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of  December 31, 2017

 

 

700,000

 

 

$

70

 

 

$

63,586

 

 

$

(157,602

)

 

$