----

| DAM HOLDINGS, INC.                                                                 |
|------------------------------------------------------------------------------------|
| (Exact name of small business issuer in its charter)                               |
|                                                                               |
| Nevada                                                                             |   | 33-1041835 |
| (State or other jurisdiction of  incorporation or organization)          |   | (I.R.S. Employer Identification No.) |
|                                                                               |
| 52-66 Iowa Avenue, Paterson, NJ 07503                                              |
| (Address of principal executive offices)                                           |
|                                                                               |
| (973) 279-3261                                                                     |
| (Issuer's telephone number)                                                        |
|                                                                               |
|                                                                               |
| (Former name, former address and former fiscal year, if changed since last report) |

| Large accelerated filer | o                                                    | Accelerated filer         | o |
|-------------------------|------------------------------------------------------|---------------------------|---|
| Non-accelerated filer   | o (Do not check if a smaller reporting company) | Smaller reporting company | x |

----

Table of Contents

INDEX

|     |                                                                                        | Page   |
|----------|---------------------------------------------------------------------------------------------|--------|
| PART I   | FINANCIAL INFORMATION                                                                       | 3      |
| Item 1.  | Financial Statements                                                                        | 3      |
|     | Condensed Consolidated Balance Sheets (Unaudited)                                           | 3      |
|     | Condensed Consolidated Statements of Operations (Unaudited)                                 | 4      |
|     | Condensed Consolidated Statements of Cash Flows (Unaudited)                                 | 5      |
|     | Notes to the Condensed Consolidated Financial Statements (Unaudited)                        | 6      |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 13     |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                  | 15     |
| Item 4T. | Controls and Procedures                                                                     | 15     |
|     |                                                                                        |   |
| PART II  | OTHER INFORMATION                                                                           | 15     |
| Item 1.  | Legal Proceedings                                                                           | 15     |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 16     |
| Item 3.  | Defaults Upon Senior Securities                                                             | 16     |
| Item 4.  | Submission of matters to a Vote of Security Holders                                         | 16     |
| Item 5.  | Other Information                                                                           | 16     |
| Item 6.  | Exhibits                                                                                    | 16     |
|     | Signatures                                                                                  | 17     |

----

Table of Contents

INFO

dated

DAM HOLDINGS

|                                                                     |   | March 31    |       |   | December 31 |   |
|--------------------------------------------------------------------------|--------|-------------|------------|--------|-------------|--------|
|                                                                     |   | 2010        |       |   | 2009        |   |
|                                                                     |   | (Unaudited) |       |   | (Audited)   |   |
| ASSETS                                                                   |   |        |       |   |        |   |
| Current Assets:                                                          |   |        |       |   |        |   |
| Cash                                                                     |   | $           | 1,262      |   |        | $      | 696 |   |
| Accounts Receivable                                                      |   |        | -          |   |        |   | - |   |
| Prepaid Expenses                                                         |   |        | 3,295      |   |        |   | 6,295 |   |
| Inventory (net of valuation reserve of $13,580 and $17,898 respectively) |   |        | 92,633     |   |        |   | 92,738 |   |
| Total Current Assets                                                     |   |        | 97,190     |   |        |   | 99,729 |   |
|                                                                     |   |        |       |   |        |   |   |   |
| Equipment                                                                |   |        | 36,608     |   |        |   | 36,608 |   |
| Less:  Accumulated Depreciation                                |   |        | (23,432    | )      |        |   | (22,008 | ) |
| Total Equipment                                                          |   |        | 13,176     |   |        |   | 14,600 |   |
|                                                                     |   |        |       |   |        |   |   |   |
| Total Assets                                                             |   | $           | 110,366    |   |        | $      | 114,329 |   |
|                                                                     |   |        |       |   |        |   |   |   |
| LIABILITIES & STOCKHOLDERS' (DEFICIT)                                |   |        |       |   |        |   |   |   |
| Current Liabilities                                                      |   |        |       |   |        |   |   |   |
| Accounts Payable                                                         |   | $           | 179,323    |   |        | $      | 118,903 |   |
| Accrued Payroll and Payroll Taxes Payable                                |   |        | 58,615     |   |        |   | 56,550 |   |
| Promissory Notes Payable Officers                                        |   |        | 65,891     |   |        |   | 61,979 |   |
| Promissory Notes Payable                                                 |   |        | 128,867    |   |        |   | 111,825 |   |
| Current Portion of Long Term Notes Payable                               |   |        | 60,404     |   |        |   | 87,052 |   |
| Total Current Liabilities                                                |   |        | 493,100    |   |        |   | 436,309 |   |
|                                                                     |   |        |       |   |        |   |   |   |
| Long Term Notes Payable                                                  |   |        | -          |   |        |   | - |   |
|                                                                     |   |        |       |   |        |   |   |   |
| Total Liabilities                                                        |   |        | 493,100    |   |        |   | 436,309 |   |
|                                                                     |   |        |       |   |        |   |   |   |
| Stockholders' Deficit                                                    |   |        |       |   |        |   |   |   |
| Preferred Stock - $0.0001 par value, 338,000 shares                      |   |        |       |   |        |   |   |   |
| authorized no shares issued and outstanding                              |   |        | -          |   |        |   | - |   |
| Series A Preferred Stock - $5 stated value, 660,000 shares               |   |        |       |   |        |   |   |   |
| authorized 60,000 shares issued and outstanding                          |   |        | 300,000    |   |        |   | 300,000 |   |
| Series B Preferred Stock - $500 stated value, 2,000 shares               |   |        |       |   |        |   |   |   |
| authorized 30 shares issued and outstanding                              |   |        | 15,000     |   |        |   | 15,000 |   |
| Common Stock - $.00015 par value, 99,000,000 shares                      |   |        |       |   |        |   |   |   |
| authorized, 1,291,939 shares issued and outstanding                      |   |        | 194        |   |        |   | 194 |   |
| Additional Paid-In Capital                                               |   |        | 1,969,078  |   |        |   | 1,969,078 |   |
| Accumulated Deficit                                                      |   |        | (2,667,006 | )      |        |   | (2,606,252 | ) |
| Total Stockholders' Deficit                                              |   |        | (382,734   | )      |        |   | (321,980 | ) |
|                                                                     |   |        |       |   |        |   |   |   |
| Total Liabilities and Stockholders' Deficit                              |   | $           | 110,366    |   |        | $      | 114,329 |   |

----

Table of Contents

DAM HOLDINGS

|                                |   | For the Three Months Ending |    |
|-------------------------------------|--------|-----------------------------|---------|
|                                |   | March 31                    |    |   |   |   |
|                                |   | 2010                        |    |   | 2009 |   |
|                                |   | (Unaudited)                 |    |   | (Unaudited) |   |
|                                |   |                        |    |   |   |   |
| Revenues                            |   | $                           | 1,189   |   |   | $ | 5,574 |   |
| Cost of Goods Sold                  |   |                        | 1,202   |   |   |   | 2,526 |   |
|                                |   |                        |    |   |   |   |   |   |
| Gross Profit                        |   |                        | (13     | ) |   |   | 3,048 |   |
|                                |   |                        |    |   |   |   |   |   |
| Operating Expenses                  |   |                        |    |   |   |   |   |   |
| General and Administrative          |   |                        | 49,895  |   |   |   | 71,905 |   |
| Depreciation and amortization       |   |                        | 1,424   |   |   |   | 3,997 |   |
|                                |   |                        |    |   |   |   |   |   |
| Total Operating Expenses            |   |                        | 51,319  |   |   |   | 75,902 |   |
|                                |   |                        |    |   |   |   |   |   |
| Other Expenses                      |   |                        |    |   |   |   |   |   |
| Interest expense                    |   |                        | 9,422   |   |   |   | 4,716 |   |
|                                |   |                        |    |   |   |   |   |   |
| Net  (Loss)               |   | $                           | (60,754 | ) |   | $ | (77,570 | ) |
|                                |   |                        |    |   |   |   |   |   |
| Net (Loss) Per Common Share         |   | $                           | (0.27   | ) |   | $ | (1.37 | ) |
|                                |   |                        |    |   |   |   |   |   |
| Weighted average shares outstanding |   |                        | 227,516 |   |   |   | 56,628 |   |

----

Table of Contents

DAM 

|                                                                            |   | Three Months Ended March 31, |    |
|---------------------------------------------------------------------------------|--------|------------------------------|---------|
|                                                                            |   | 2010                         |    |   | 2009 |   |
|                                                                            |   | (Unaudited)                  |    |   | (Unaudited) |   |
| Cash Flows from Operating Activities                                            |   |                         |    |   |   |   |
|                                                                            |   |                         |    |   |   |   |
| Net (Loss)                                                                      |   | $                            | (60,754 | ) |   | $ | (77,570 | ) |
|                                                                            |   |                         |    |   |   |   |   |   |
| Adjustments to reconcile net loss to net cash provided by operating activities: |   |
| Depreciation & amortization                                                 |   |                         | 1,424   |   |   |   | 3,997 |   |
| Officer compensation contributed to capital                                     |   |                         | -       |   |   |   | 50,882 |   |
| Changes in assets and liabilities:                                              |   |                         |    |   |   |   |   |   |
| Accounts receivable                                                             |   |                         | -       |   |   |   | (263 | ) |
| Prepaid expenses                                                                |   |                         | 3,000   |   |   |   | 2,250 |   |
| Inventory                                                                       |   |                         | 105     |   |   |   | (2,804 | ) |
| Accounts payable                                                                |   |                         | 60,420  |   |   |   | (64,281 | ) |
| Accrued payroll and payroll taxes                                               |   |                         | 2,065   |   |   |   | 40,725 |   |
| Notes payable                                                                   |   |                         | (9,989  | ) |   |   |   |   |
|                                                                            |   |                         |    |   |   |   |   |   |
| Net Cash Used in Operating Activities                                           |   |                         | (3,729  | ) |   |   | (47,064 | ) |
|                                                                            |   |                         |    |   |   |   |   |   |
| Cash Flows Used in Investing Activities:                                        |   |                         |    |   |   |   |   |   |
| Capitalized costs                                                               |   |                         | -       |   |   |   | - |   |
| Cash Flows Used in Investing Activities                                         |   |                         | -       |   |   |   | - |   |
|                                                                            |   |                         |    |   |   |   |   |   |
| Cash Flows From Financing Activities:                                           |   |                         |    |   |   |   |   |   |
| Advances from officer                                                           |   |                         | 2,000   |   |   |   | - |   |
| Increase in notes payable                                                       |   |                         | 2,295   |   |   |   | - |   |
| Net Cash From Financing Activities                                              |   |                         | 4,295   |   |   |   | - |   |
|                                                                            |   |                         |    |   |   |   |   |   |
| Net (Decrease) Increase in Cash                                                 |   | $                            | 566     |   |   | $ | (47,064 | ) |
| Cash at Beginning of Period                                                     |   |                         | 696     |   |   |   | 65,954 |   |
| Cash at End of Period                                                           |   | $                            | 1,262   |   |   | $ | 18,890 |   |

|           |   | Three Months Ended March 31, |   |
|----------------|--------|------------------------------|--------|
|           |   | 2010                         |   |   | 2009 |   |
| Cash paid for: |   |                         |   |   |   |   |
| Interest       |   | $                            | 2,500  |   |   | $ | 1,181 |   |
| Taxes          |   | $                            | -      |   |   | $ | - |   |

| Supplemental Schedule of Non-cash Investing and Financing Activities;                    |   |
|------------------------------------------------------------------------------------------|--------|
|                                                                                     |   |   |   |   |   |   |
| For the three months ended March 31, 2010                                                |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |
| Increase in vendor notes payable in the amount of $18,000 for legal and accounting fees. |
|                                                                                     |   |   |   |   |   |   |
| For the three months ended March 31, 2009                                                |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |
| Officers compensation contributed to capital in the amount of $50,882.                   |   |

----

Table of Contents

Notes to the

----

Table of Contents

|                       |   | March 31, |   |   | December 31, |   |
|----------------------------|--------|-----------|--------|--------|--------------|--------|
|                       |   | 2010      |   |   | 2009         |   |
|                       |   |      |   |   |         |   |
| Motorcycles and prototypes |   | $         | 83,246 |   |         | $      | 83,246 |   |
| Parts and supplies         |   |      | 22,967 |   |         |   | 23,072 |   |
| Less valuation allowance   |   |      | 13,580 |   |         |   | 13,580 |   |
|                       |   | $         | 92,633 |   |         | $      | 92,738 |   |

|                           |   | March 31, |    |   | December 31, |   |
|--------------------------------|--------|-----------|---------|--------|--------------|--------|
|                           |   | 2010      |    |   | 2009         |   |
|                           |   |      |    |   |         |   |
| Machinery, plant and equipment |   | $         | 36,608  |   |         | $      | 36,608 |   |
| Accumulated depreciation       |   |      | (23,432 | )      |         |   | (22,008 | ) |
|                           |   | $         | 13,176  |   |         | $      | 13,176 |   |

----

Table of Contents

| Demand promissory notes due officer with interest at 12% per annum                                                    |   | $      | 65,891   |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|
| Demand promissory notes due vendors with interest at 12% per annum                                                    |   |   | 128,867  |   |
| Unsecured convertible promissory notes with interest at 6% per annum and convertible at the rate of $40.00 per share. |   |   | 54,712   |   |
| Secured convertible promissory note with interest at 10% per annum and convertible at the rate of $0.12 per share.    |   |   | 5,692    |   |
| Total                                                                                                                 |   | $      | 255,162  |   |
| Less current portion                                                                                                  |   |   | (255,162 | )      |
| Long-term debt                                                                                                        |   | $      | -        |   |

----

Table of Contents

----

Table of Contents

|                                                                         |   |   |    |   | Conversion |   |   | Number of |       |
|------------------------------------------------------------------------------|--------|--------|---------|--------|------------|--------|--------|-----------|------------|
|                                                                         |   | Amount |    |   | Rate       |   |   | Shares    |       |
| Shares of common stock authorized                                            |   |   |    |   |       |   |   |      | 99,000,000 |   |
| Shares of common stock outstanding                                           |   |   |    |   |       |   |   |      | 1,291,939  |   |
| Shares of common stock reserved for issuance upon exercise of conversion of: |   |   |    |   |       |   |   |      |       |   |
| Secured convertible promissory note                                          |   | $      | 5,567   |   |       | $      | 0.12   |      |       |   | 46,392 |   |
| Unsecured convertible promissory notes                                       |   |   | 53,961  |   |       |   | 40.00  |      |       |   | 1,349 |   |
| Series A convertible preferred stock                                         |   |   | 300,000 |   |       |   | 22.50  |      |       |   | 13,333 |   |
| Series B convertible preferred stock                                         |   |   | 15,000  |   |       |   | 1.00   |      |       |   | 15,000 |   |
| Class A warrants                                                             |   |   |    |   |       |   | 45.00  |      |       |   | 13,333 |   |
| Class B warrants                                                             |   |   |    |   |       |   | 25.00  |      |       |   | 600 |   |
| 2009 Consultants Stock Compensation Plan                                     |   |   |    |   |       |   |   |      |       |   |   |   |
| Vested options outstanding                                                   |   |   |    |   |       |   | 1.00   |      |       |   | 200,000 |   |
| Reserved for future issuance                                                 |   |   |    |   |       |   |   |      |       |   | 740,000 |   |
| Selling agent warrants                                                       |   |   |    |   |       |   | 54.00  |      |       |   | 2,497 |   |
| Shares of common stock available for future issuance                         |   |   |    |   |       |   |   |      |       |   | 96,675,557 |   |

----

Table of Contents

|                                                              |   | For the Three Months |    |   | For the Twelve Months         |   |
|-------------------------------------------------------------------|--------|----------------------|---------|--------|-------------------------------|--------|
|                                                              |   | Ended March 31, 2010 |    |   | Ended December 31, 2009       |   |
|                                                              |   | Shares               |    |   | WeightedAverageExercise Price |   |   | Shares |   |   | WeightedAverageExercise Price |   |
| Outstanding at beginning of period                                |   |                 | 216,430 |   |                          | $      | 4.39 |   |   |   | 15,830 |   |   | $ | 46.40 |   |
| Granted                                                           |   |                 | -       |   |                          |   | - |   |   |   | 200,600 |   |   |   | 1.07 |   |
| Exercised                                                         |   |                 | -       |   |                          |   | - |   |   |   | - |   |   |   | - |   |
| Forfeited                                                         |   |                 | -       |   |                          |   | - |   |   |   | - |   |   |   | - |   |
| Expired                                                           |   |                 | -       |   |                          |   | - |   |   |   | - |   |   |   | - |   |
| Outstanding at end of period                                      |   |                 | 216,430 |   |                          | $      | 4.39 |   |   |   | 216,430 |   |   | $ | 4.39 |   |
|                                                              |   |                 |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average fair value of warrants granted during the period |   |                 | 216,430 |   |                          | $      | 4.39 |   |   |   | 216,430 |   |   | $ | 4.39 |   |

|     | Warrants Outstanding |        | Warrants Exercisable                                                                                            |
|----------|----------------------|-------------|-----------------------------------------------------------------------------------------------------------------|
|     |                 |        |                                                                                                            |   | Weighted |   |   |   |   |   |   |   |   |
|     |                 |        |                                                                                                            |   | Average |   | Weighted |   |   |   | Weighted |
|     |                 |        |                                                                                                            |   | Remaining |   | Average |   |   |   | Average |
| Exercise |                 | Number      |                                                                                                            | Contractual |   | Exercise |   | Number |   | Exercise |
| Prices   |                 | Outstanding |                                                                                                            | Life |   | Price |   | Exercisable |   | Price |
| $        | 45.00                |        |              13,333                            |   |            2.75 |   | $ | 45.00 |   | 13,333 |   | $ | 45.00 |
| $        | 25.00                |        |                   600 |   |            3.83 |   | $ | 25.00 |   | 600 |   | $ | 25.00 |
| $        | 54.00                |        |                2,497                 |   |            2.83 |   | $ | 54.00 |   | 2,497 |   | $ | 54.00 |
| $        | 1.00                 |        |            200,000                                       |   |            9.75 |   | $ | 1.00 |   | 200,000 |   | $ | 1.00 |

----

Table of Contents

----

Table of Contents

cussion 

----

Table of Contents

----

Table of Contents

Quantitative and Qualitative 

Controls and Procedures

PART II –

Legal Proceedings

----

Table of Contents

Equity Securities 

faults 

 Matters 

Other Information

bit

| Exhibit No. |   | Exhibit                                                                                                                                                                                |
|-------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                                   |
| 31*         |   | Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer and Principal Financial & Accounting Officer                                                                 |
|        |   |                                                                                                                                                                                   |
| 32*         |   | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Principal Executive Officer and Principal Accounting Officer |
|        |   |                                                                                                                                                                                   |
|        |   | * Filed herewith.                                                                                                                                                                      |

----

Table of Contents

TURE

|   |         |   | DAM Holdings, Inc.                                           |   |
|--------|--------------|--------|--------------------------------------------------------------|--------|
|   |         |   |                                                         |   |
|   |         |   |                                                         |   |
| Date:  | May 21, 2010 |   | /s/ MARK S. KLEIN                                            |   |
|   |         |   | Mark S. Klein, President                                     |   |
|   |         |   | Principal Executive Officer and Principal Accounting Officer |   |

----