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|  Nevada                                                               |  45-0538522                        |
|----------------------------------------------------------------------------|-----------------------------------------|
|  (State or other jurisdiction of incorporation or organization)  |  (IRS Employer Identification No.) |

|   | Large Accredited Filer | [   ] | Accelerated Filer         | [   ] |
|--------|------------------------|----------------------|---------------------------|----------------------|
|   |                   |                 |                      |                 |
|   | Non-Accredited Filer   | [   ] | Smaller Reporting Company | [X]                  |

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|         | PART I FINANCIAL STATEMENTS                          |     |
|--------------|-----------------------------------------------------------|----------|
|         |                                                      |     |
| Item 1       | Financial Statements                                      |   3 |
|         |                                                      |     |
| Item 2       | Management's Discussion and Analysis or Plan of Operation | 12       |
|         |                                                      |     |
| Item 3       | Controls and Procedures                                   | 13       |
|         |                                                      |     |
|         |                                                      |     |
|         |                                                      |     |
|         | PART II OTHER INFORMATION                            |     |
|         |                                                      |     |
| Item 6  | Exhibits and Reports on Form 8-K                     |  14 |

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|                                                                                                 ASSETS                              |   |                     |        |   |                            |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|-------------|--------|---------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | March 31,2010(Unaudited) |        |   | December 31, 2009(Audited) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |
| Current Assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                     |        |   |                            |   |
|      Cash and Cash Equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                        |  383   |   |                            | $      | 454 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
| TOTAL ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $                        |  383   |   |                            | $      | 454 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
|                                                                                                LIABILITIES AND STOCKHOLDERS’EQUITY |   |                     |        |   |                            |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
| Current Liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
|        Accounts Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                        | 25,900      |   |                            | $      | 25,950 |   |
|        Due to Related Parties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                     | 16,500      |   |                            |   | 16,500 |   |
|        Total Current Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                     | 42,400      |   |                            |   | 42,450 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
| Long Term Liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                     |        |   |                            |   |   |   |
|        Revolving Line-of-Credit – Related Party                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                     | 63,445      |   |                            |   | 58,717 |   |
|        Total Long Term Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                     | 63,445      |   |                            |   | 58,717 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
| Total Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                        | 105,845     |   |                            | $      | 101,167 |   |
|  Stockholders’ equity (deficit):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                     |        |   |                            |   |   |   |
|        Preferred Stock, $.001 par value, 20,000,000 shares  authorized,       -0- and -0-  shares issued and outstanding                                                                                                                                                                                                                                                                                                                                                                                                             |   |                     |  0     |   |                            |   | 0 |   |
|        Common Stock, $.001 par value, 50,000,000 shares authorized       5,696,800 and 5,696,800 shares issued and outstanding                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |  5,697 |   |                            |   | 5,697 |   |
|        Additional Paid-In Capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     | 555,453     |   |                            |   | 555,453 |   |
|        Retained Earnings (Deficit)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                     | (666,612    | )      |                            |   | (661,863 | ) |
| Total Stockholders’ Equity (Deficit)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                     | ( 105,462   | )      |                            |   | (100,713 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                     |        |   |                            |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $                        |  383   |   |                            | $      | 454 |   |

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|                                                                    |   | Three Months Ended March 31, |         |   | Three Months EndedMarch 31, |   |
|-------------------------------------------------------------------------|--------|-----------------------------------|--------------|--------|-----------------------------|--------|
|                                                                    |   | 2010                              |         |   | 2009                        |   |
|                                                                    |   |                              |         |   |                        |   |
| Revenue                                                                 |   | $                                 | 0            |   |                        | $      | 0 |   |
|                                                                    |   |                              |         |   |                        |   |   |   |
| Operating expenses:                                                     |   |                              |         |   |                        |   |   |   |
|  General and administrative                                        |   |                              | 3,932        |   |                        |   | 5,508 |   |
|         Total operating expense |   |                              | 3,932        |   |                        |   | 5,508 |   |
|   (Loss) from operations                                      |   |                              | ( 3,932 | )      |                        |   | ( 5,508 | ) |
|                                                                    |   |                              |         |   |                        |   |   |   |
|   Other (expense):                                            |   |                              |         |   |                        |   |   |   |
|    Unrealized gain (loss) on securities                  |   |                              | ( 71    | )      |                        |   | 8 |   |
|    Dividend income                                       |   |                              | 3            |   |                        |   | 0 |   |
|    Interest expense                                      |   |                              | ( 749   | )      |                        |   | ( 522 | ) |
|                                                                    |   |                              |         |   |                        |   |   |   |
| Net (loss)                                                              |   | $                                 | ( 4,749 | )      |                        | $      | ( 6,022 | ) |
|                                                                    |   |                              |         |   |                        |   |   |   |
|                                                                    |   |                              |         |   |                        |   |   |   |
| Net loss per share:                                                     |   |                              |         |   |                        |   |   |   |
|   Basic and diluted                                           |   | $                                 | (0.00        | )      |                        | $      | (0.00 | ) |
|                                                                    |   |                              |         |   |                        |   |   |   |
|   Weighted average shares outstanding:                        |   |                              |         |   |                        |   |   |   |
|   Basic and diluted                                           |   |                              | 5,696,800    |   |                        |   | 5,696,800 |   |

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|   SILVER PEARL ENTERPRISES, INC.STATEMENTS OF CASH FLOWSThree Months Ended March 31, 2010 and 2009(Unaudited) |
|--------------------------------------------------------------------------------------------------------------------|

|                                                                                  |   | Three Months Ended March 31,2010 |         |   | Three Months EndedMarch 31,2009 |   |
|---------------------------------------------------------------------------------------|--------|---------------------------------------|--------------|--------|---------------------------------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES                                                  |   |                                  |         |   |                            |   |
| Net loss                                                                              |   | $                                     | ( 4,749 | )      |                            | $      | ( 6,022 | ) |
| Adjustments to reconcile net deficit to cash used  by operating activities: |   |                                  |         |   |                            |   |   |   |
| Change in assets and liabilities:                                                     |   |                                  |         |   |                            |   |   |   |
|    Increase (Decrease) in Accounts Payable                             |   |                                  | ( 50         | )      |                            |   | 136 |   |
| CASH FLOWS USED IN OPERATING ACTIVITIES                                               |   |                                  | (4,799       | )      |                            |   | ( 5,886 | ) |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
| CASH FLOWS USED IN INVESTING ACTIVITIES                                               |   |                                  | 0            |   |                            |   | 0 |   |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                  |   |                                  |         |   |                            |   |   |   |
|     Net proceeds from line of credit                              |   |                                  | 4,728        |   |                            |   | 5,882 |   |
| CASH FLOWS PROVIDED BY FINANCING ACTIVITIES                                           |   |                                  | 4,728        |   |                            |   | 5,882 |   |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
| NET INCREASE (DECREASE) IN CASH                                                       |   |                                  | ( 71         | )      |                            |   | (4 | ) |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
|   Cash, beginning of period                                                 |   |                                  | 454          |   |                            |   | 150 |   |
|   Cash, end of period                                                       |   | $                                     | 383          |   |                            | $      | 146 |   |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
|                                                                                  |   |                                  |         |   |                            |   |   |   |
| SUPPLEMENTAL CASH FLOW INFORMATION                                                    |   |                                  |         |   |                            |   |   |   |
|   Interest paid                                                             |   | $                                     | 749          |   |                            | $      | 522 |   |
|   Income taxes paid                                                         |   | $                                     | 0            |   |                            | $      | 0 |   |
|                                                                                  |   |                                  |         |   |                            |   |   |   |

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| ·    Persuasive evidence of an arrangement exists;                                                                                        |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ·    Ownership and all risks of loss have been transferred to buyer,      which is generally upon shipment; |
| ·    The price is fixed and determinable; and                                                                                             |
| ·    Collectability is reasonably assured.                                                                                                |

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| NOTE 2 – SALE OF ASSETS |
|-------------------------------|

| NOTE 4 – LINE OF CREDIT-RELATED PARTY |
|---------------------------------------------|

| NOTE 5 – EQUITY |
|-----------------------|

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| NOTE 6 – INCOME TAXES |
|-----------------------------|

|                                                                                                                     |   | March 31,2010 |     |   | December 31,2009 |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|---------------|----------|--------|------------------|--------|
| Deferred tax assets attributable to:                                                                                     |   |          |     |   |             |   |
| Prior years                                                                                                              |   | $             | 169,064  |   |             | $      | 164,651 |   |
|   Tax benefit (liability) for current year                                                                     |   |          | 1,087    |   |             |   | 4,413 |   |
|         Total Deferred Tax Benefit                                               |   | $             | 170,151  |   |             | $      | 169,064 |   |
|         Valuation Allowance                                                      |   |          | (170,151 | )      |             |   | (169,064 | ) |
|                 Net Deferred Tax Benefit |   | $             | 0        |   |             | $      | 0 |   |

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|   | · | Reliance upon independent financial reporting consultants for review of critical accounting areas and disclosures and material non-standard transaction. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Lack of sufficient accounting staff which results in a lack of segregation of duties necessary for a good system of internal control. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------|

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