| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE  SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------------|

| Maryland--------------------------------                      | 000-27045-------------------------------- | 36-4286069------------------------------------------- |
|---------------------------------------------------------------|-------------------------------------------|-------------------------------------------------------|
| (State or other jurisdictionof incorporation or organization) | (Commission File Number)                  | (I.R.S. Employer Identification Number)          |

| Large accelerated filer o | Accelerated filer o           |
|---------------------------|--------------------------------------------------------------------------------------|

----

| PART I. FINANCIAL INFORMATION                                                                                  |   |   |
|----------------------------------------------------------------------------------------------------------------|--------|--------|
| ITEM 1. FINANCIAL STATEMENTS                                                                                   |   | 3      |
| ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL  CONDITION AND RESULTS OF OPERATIONS |   | 10     |
| ITEM 3. QUANTITATIVE AND QUALITATIVE  DISCLOSURES ABOUT MARKET RISK                                  |   | 11     |
| ITEM 4. CONTROLS AND PROCEDURES                                                                                |   | 11     |
|  PART II. OTHER INFORMATION                                                                               |   |   |
| ITEM 1.   - LEGAL PROCEEDINGS                                                                        |   | 12     |
| ITEM 1A - RISK FACTORS                                                                                    |   |   |
| ITEM 2.   - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS                              |   | 12     |
| ITEM 3.   - DEFAULTS UPON SENIOR SECURITIES                                                     |   | 12     |
| ITEM 4.   - REMOVED AND RESERVED                                                                     |   | 13     |
| ITEM 5.   - OTHER INFORMATION                                                                        |   | 13     |
| ITEM 6.   - EXHIBITS                                                                                 |   | 13     |
| SIGNATURES                                                                                                     |   | 13     |
|                                                                                                           |   |   |

----

|                                                        |   |        |       |   |         |   |
|-------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|
|                                                        |   | March 31,   |       |   | December 31, |   |
|                                                        |   | 2010        |       |   | 2009         |   |
|                                                        |   | (Unaudited) |       |   |         |   |
|                                                        |   |        |       |   |         |   |
| CURRENT ASSETS                                              |   |        |       |   |         |   |
|    Cash                                      |   | $           | 1,109,732  |   |         | $      | 2,404,910 |   |
|    Accounts receivable, net                  |   |        | 6,405,839  |   |         |   | 5,787,871 |   |
|    Inventory                                 |   |        | 4,203,897  |   |         |   | 4,132,358 |   |
|    Prepaid expenses and other current assets |   |        | 613,908    |   |         |   | 420,293 |   |
| Total current assets                                        |   |        | 12,333,376 |   |         |   | 12,745,432 |   |
|                                                        |   |        |       |   |         |   |   |   |
| PROPERTY, PLANT AND EQUIPMENT, net                          |   |        | 12,997,411 |   |         |   | 13,202,327 |   |
|                                                        |   |        |       |   |         |   |   |   |
| OTHER ASSETS                                                |   |        | 671,429    |   |         |   | 311,292 |   |
|                                                        |   |        |       |   |         |   |   |   |
| Total assets                                                |   | $           | 26,002,216 |   |         | $      | 26,259,051 |   |
|                                                        |   |        |       |   |         |   |   |   |

----

|                                                                                 |   | March 31,   |        |   | December 31, |   |
|--------------------------------------------------------------------------------------|--------|-------------|-------------|--------|--------------|--------|
|                                                                                 |   | 2010        |        |   | 2009         |   |
|                                                                                 |   | (Unaudited) |        |   |         |   |
|                                                                                 |   |        |        |   |         |   |
| CURRENT LIABILITIES                                                                  |   |        |        |   |         |   |
|    Accounts payable                                                   |   | $           | 3,344,539   |   |         | $      | 3,506,792 |   |
|    Line of credit and current portion of notes payable                |   |        | 1,950,166   |   |         |   | 1,974,190 |   |
|    Current portion of notes payable to related parties                |   |        | 118,869     |   |         |   | 118,869 |   |
|    Other current liabilities                                          |   |        | 709,935     |   |         |   | 676,697 |   |
| Total current liabilities                                                            |   |        | 6,123,509   |   |         |   | 6,276,548 |   |
|                                                                                 |   |        |        |   |         |   |   |   |
|    Notes payable, less current portion                                |   |        | 10,900,066  |   |         |   | 10,759,941 |   |
|    Notes payable to related parties, less current portion             |   |        | 3,181,438   |   |         |   | 3,208,983 |   |
|    Other long-term liabilities                                        |   |        | 612,316     |   |         |   | 632,207 |   |
| Total liabilities                                                                    |   |        | 20,817,329  |   |         |   | 20,877,679 |   |
|                                                                                 |   |        |        |   |         |   |   |   |
| STOCKHOLDERS’ EQUITY                                                           |   |        |        |   |         |   |   |   |
|    Preferred stock $0.001 par value 5,000,000 shares                  |   |        |        |   |         |   |   |   |
|    authorized, 1,760,000 and 2,370,000 shares issued and outstanding  |   |        |        |   |         |   |   |   |
|    at March 31, 2010 and December 31, 2009, respectively              |   |        | 1,760       |   |         |   | 2,370 |   |
|    Additional paid-in capital – preferred stock                 |   |        | 529,906     |   |         |   | 713,567 |   |
|    Common stock, $0.001 par value 100,000,000 shares                  |   |        |        |   |         |   |   |   |
|    authorized;  22,362,755 and 21,953,306 shares issued and |   |        |        |   |         |   |   |   |
|    outstanding at March 31, 2010 and December 31, 2009, respectively  |   |        | 22,363      |   |         |   | 21,953 |   |
|    Additional paid-in capital – common stock                    |   |        | 17,673,490  |   |         |   | 17,439,553 |   |
|    Accumulated deficit                                                |   |        | (13,042,632 | )      |         |   | (12,796,071 | ) |
| Net stockholders’ equity                                                       |   |        | 5,184,887   |   |         |   | 5,381,372 |   |
|                                                                                 |   |        |        |   |         |   |   |   |
| Total Liabilities and Stockholders’ Equity                                     |   | $           | 26,002,216  |   |         | $      | 26,259,051 |   |

----

|                                               |   | Three Months Ended March 31, |        |
|----------------------------------------------------|--------|------------------------------|-------------|
|                                               |   | 2010                         |        |   | 2009 |   |
|                                               |   |                         |        |   |   |   |
| SALES                                              |   | $                            | 21,909,470  |   |   | $ | 19,737,679 |   |
| Cost of goods sold                                 |   |                         | (19,492,115 | ) |   |   | (17,070,440 | ) |
| Gross profit                                       |   |                         | 2,417,355   |   |   |   | 2,667,239 |   |
| OPERATING EXPENSES                                 |   |                         | 2,657,187   |   |   |   | 2,426,286 |   |
| NET OPERATING (LOSS) INCOME                        |   |                         | (239,832    | ) |   |   | 240,953 |   |
| Other expenses                                     |   |                         | (155,685    | ) |   |   | (142,902 | ) |
| (LOSS) INCOME BEFORE INCOME TAXES                  |   |                         | (395,517    | ) |   |   | 98,051 |   |
| Federal and state income taxes                     |   |                         |        |   |   |   |   |   |
|    Income taxes, current period     |   |                         | (4,613      | ) |   |   | (13,897 | ) |
|    Income tax benefit, deferred     |   |                         | 153,569     |   |   |   | 26,886 |   |
| NET (LOSS) INCOME                                  |   |                         | (246,561    | ) |   |   | 111,040 |   |
| LESS: Preferred Dividends                          |   |                         | (13,742     | ) |   |   | (14,813 | ) |
| NET (LOSS) INCOME AVAILABLE TO COMMON STOCKHOLDERS |   | $                            | (260,303    | ) |   | $ | 96,227 |   |
|                                               |   |                         |        |   |   |   |   |   |
| Net (loss) income per share:                       |   |                         |        |   |   |   |   |   |
|    Basic:                           |   | $                            | (0.01       | ) |   | $ | 0.00 |   |
|    Diluted:                         |   |                         | (1          | ) |   | $ | 0.00 |   |
| Weighted average shares outstanding                |   |                         |        |   |   |   |   |   |
|    Basic:                           |   |                         | 22,034,312  |   |   |   | 21,502,745 |   |
|    Diluted:                         |   |                         | (1          | ) |   |   | 22,687,745 |   |
|                                               |   |                         |        |   |   |   |   |   |

----

|                                                                                                          |   | Three Months Ended |      |
|---------------------------------------------------------------------------------------------------------------|--------|--------------------|-----------|
|                                                                                                          |   | March 31,          |      |
|                                                                                                          |   | 2010               |      |   | 2009 |   |
|                                                                                                          |   |               |      |   |   |   |
|                                                                                                          |   |               |      |   |   |   |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                                                           |   | $                  | 1,236,268 |   |   | $ | 18,949 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                                          |   |               |      |   |   |   |   |   |
|     Net payments for property, plant and equipment                                        |   |               | (147,466  | ) |   |   | (202,947 | ) |
| NET CASH (USED IN) INVESTING ACTIVITIES                                                                       |   |               | (147,466  | ) |   |   | (202,947 | ) |
|                                                                                                          |   |               |      |   |   |   |   |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                                          |   |               |      |   |   |   |   |   |
|     Net proceeds from notes payable                                                       |   |               | 126,101   |   |   |   | 249,907 |   |
|     Net payments on notes to related parties                                              |   |               | (37,545   | ) |   |   | (30,151 | ) |
| NET CASH PROVIDED BY FINANING ACTIVITIES                                                                      |   |               | 88,556    |   |   |   | 219,756 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| INCREASE (DECREASE) IN CASH                                                                                   |   |               | 1,177,358 |   |   |   | 35,758 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| CASH, BEGINNING OF PERIOD                                                                                     |   |               | 2,404,910 |   |   |   | 4,101,692 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| CASH, END OF PERIOD                                                                                           |   | $                  | 3,582,268 |   |   | $ | 4,137,450 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION                                                             |   |               |      |   |   |   |   |   |
|     Interest paid                                                                         |   | $                  | 248,489   |   |   | $ | 219,212 |   |
|     Income taxes paid                                                                     |   | $                  | 4,613     |   |   | $ | 12,000 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |
| NON CASH INVESTING AND FINANCING ACTIVITIES                                                                   |   |               |      |   |   |   |   |   |
|     Amortization of deferred compensation as share based compensation                     |   | $                  | 25,076    |   |   | $ | 23,088 |   |
|     Issuance of common stock for services and settlement                                  |   | $                  | 25,000    |   |   | $ | 142,500 |   |
|     Issuance of common stock in payment of convertible promissory notes & accrued interest |   | $                  | -         |   |   | $ | 32,490 |   |
|     Issuance of common stock for dividends                                                |   | $                  | -         |   |   | $ | 7,473 |   |
|                                                                                                          |   |               |      |   |   |   |   |   |

----

| NOTE A | BASIS OF PRESENTATION |
|--------|-----------------------|

| NOTE B | COMMON STOCK |
|--------|--------------|

| NOTE C | PREFERRED STOCK |
|--------|-----------------|

----

| NOTE D | EARNINGS PER SHARE |
|--------|--------------------|

| NOTE E | BUSINESS SEGMENTS |
|--------|-------------------|

|                                        |   | Holding     |      |   | Oil         |   |       | Steel      |   |   | Steel       |   |   |         |      |
|---------------------------------------------|--------|-------------|-----------|--------|-------------|--------|------------|------------|--------|--------|-------------|--------|--------|--------------|-----------|
|                                        |   | Company     |      |   | Distributor |   |       | Fabricator |   |   | Distributor |   |   |         |      |
|                                        |   | (Heartland) |      |   | (Lee Oil)   |   |       | (Mound)    |   |   | (HS)        |   |   | Consolidated |      |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |      |
|  Revenues                              |   | $           | -         |   |        | $      | 18,947,764 |       |   | $      | 2,535,612   |   |   | $            | 426,094   |   |   | $ | 21,909,470 |   |
|  Gross Profit                          |   |        | -         |   |        |   | 1,857,575  |       |   |   | 480,917     |   |   |         | 78,863    |   |   |   | 2,417,355 |   |
|  Operating Expenses                    |   |        | 258,586   |   |        |   | 1,871,354  |       |   |   | 240,239     |   |   |         | 287,008   |   |   |   | 2,657,187 |   |
|  Other (Expense) Income                |   |        | (132,618  | )      |        |   | 11,369     |       |   |   | (4,978      | )      |   |         | (29,458   | ) |   |   | (155,685 | ) |
|  Income (Loss)                         |   |        |      |   |        |   |       |       |   |   |        |   |   |         |      |   |   |   |   |   |
|     Before Income Taxes |   |        | (391,204  | )      |        |   | (2,410     | )          |   |   | 235,700     |   |   |         | (237,603  | ) |   |   | (395,517 | ) |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |      |   |   |   |   |   |
|  Current Assets                        |   | $           | 48,943    |   |        | $      | 5,782,958  |       |   | $      | 5,507,315   |   |   | $            | 994,160   |   |   | $ | 12,333,376 |   |
|  Total Assets                          |   |        | 2,685,655 |   |        |   | 11,551,160 |       |   |   | 7,514,620   |   |   |         | 4,250,781 |   |   |   | 26,002,216 |   |
|  Current Liabilities                   |   |        | 1,502,387 |   |        |   | 2,166,592  |       |   |   | 1,589,355   |   |   |         | 865,176   |   |   |   | 6,123,509 |   |
|  Total Liabilities                     |   |        | 7,527,319 |   |        |   | 7,350,681  |       |   |   | 2,524,354   |   |   |         | 3,414,975 |   |   |   | 20,817,329 |   |
|  Capital Expenditures                  |   |        | -         |   |        |   | 19,436     |       |   |   | 104,051     |   |   |         | 23,979    |   |   |   | 147,466 |   |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |      |   |   |   |   |   |

----

| NOTE E | BUSINESS SEGMENTS (continued) |
|--------|-------------------------------|

|                                        |   | Holding     |      |   | Oil         |   |       | Steel      |   |   | Steel       |   |   |         |     |
|---------------------------------------------|--------|-------------|-----------|--------|-------------|--------|------------|------------|--------|--------|-------------|--------|--------|--------------|----------|
|                                        |   | Company     |      |   | Distributor |   |       | Fabricator |   |   | Distributor |   |   |         |     |
|                                        |   | (Heartland) |      |   | (Lee Oil)   |   |       | (Mound)    |   |   | (HS)        |   |   | Consolidated |     |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |     |
|  Revenues                              |   | $           | -         |   |        | $      | 16,218,967 |       |   | $      | 3,108,148   |   |   | $            | 410,564  |   |   | $ | 19,737,679 |   |
|  Gross Margins                         |   |        | -         |   |        |   | 2,004,044  |       |   |   | 649,049     |   |   |         | 14,146   |   |   |   | 2,667,239 |   |
|  Operating Expenses                    |   |        | 365,323   |   |        |   | 1,686,892  |       |   |   | 162,621     |   |   |         | 211,450  |   |   |   | 2,426,286 |   |
|  Other (Expense) Income                |   |        | -         |   |        |   | (154,002   | )          |   |   | 11,100      |   |   |         | -        |   |   |   | (142,902 | ) |
|  Income (Loss)                         |   |        |      |   |        |   |       |       |   |   |        |   |   |         |     |   |   |   |   |   |
|     Before Income Taxes |   |        | (365,323  | )      |        |   | 165,700    |       |   |   | 497,528     |   |   |         | (199,854 | ) |   |   | 98,051 |   |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |     |   |   |   |   |   |
|  Current Assets                        |   | $           | 598,226   |   |        | $      | 6,797,230  |       |   | $      | 5,610,778   |   |   | $            | 437,245  |   |   | $ | 13,443,479 |   |
|  Total Assets                          |   |        | 2,827,058 |   |        |   | 12,259,905 |       |   |   | 7,614,904   |   |   |         | 972,635  |   |   |   | 23,674,502 |   |
|  Current Liabilities                   |   |        | 1,033,492 |   |        |   | 2,104,198  |       |   |   | 2,800,868   |   |   |         | 50,267   |   |   |   | 5,988,825 |   |
|  Total Liabilities                     |   |        | 6,488,248 |   |        |   | 7,577,140  |       |   |   | 3,987,849   |   |   |         | 138,576  |   |   |   | 18,191,813 |   |
|  Capital Expenditures                  |   |        | 20,994    |   |        |   | 48,376     |       |   |   | 37,374      |   |   |         | 96,203   |   |   |   | 202,947 |   |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |     |   |   |   |   |   |
|                                        |   |        |      |   |        |   |       |       |   |   |        |   |   |         |     |   |   |   |   |   |

----

| ·   | Mound – Steel Fabrication – Primarily focused on the fabrication of metal products including structural steel, steel stairs and railings, bar joists, metal decks, and other miscellaneous steel products. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Lee Oil – Oil Distribution – Primarily focused on the wholesale and retail distribution of petroleum products including those sold to the motoring public through our retail locations. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Heartland Steel – Wholesale Steel – This is a startup segment of the business that we are working to develop into full fledged service center for the distribution of steel products. Construction was completed on the new warehouse and office facility in the fourth quarter of 2009. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| Exhibit 31.1    |   | Certification of Terry L. Lee, Chief Executive Officer & Chairman of the Board |
|--------------------------------|--------|------------------------------------------------------------------------------------|
|                           |   |                                                                               |
| Exhibit 31.2              |   | Certification of Mitchell L Cox, CPA, Chief Financial Officer                      |
|                           |   |                                                                               |
| Exhibit 32.1              |   | Certification of Terry L. Lee, Chief Executive Officer& Chairman of the Board  |
|                           |   |                                                                               |
| Exhibit 32.2         |   | Certification of Mitchell L. Cox, CPA, Chief Financial Officer                     |

----

|               |   |                          |   |
|--------------------|--------|-------------------------------|--------|
|               |   | HEARTLAND, INC.               |   |
|               |   | (Registrant)                  |   |
|               |   |                          |   |
|               |   |                          |   |
| Date: May 14, 2010 |   | By: /s/ Terry L. Lee          |   |
|               |   | Terry L. Lee                  |   |
|               |   | Chief Executive Officer and   |   |
|               |   | Chairman of the Board         |   |
|               |   | (Principal Executive Officer) |   |
|               |   |                          |   |
|               |   |                          |   |
| Date: May 14, 2010 |   | By: /s/ Mitchell L. Cox, CPA  |   |
|               |   | Mitchell L. Cox               |   |
|               |   | Chief Financial Officer       |   |
|               |   | (Principal Financial          |   |
|               |   | and Accounting Officer)       |   |
|               |   |                          |   |