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| 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 |

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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                                 | 15     |
| 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     |

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I –

on

ubs

|                                                       |   | June 30     |       |   | December 31 |   |
|------------------------------------------------------------|--------|-------------|------------|--------|-------------|--------|
|                                                       |   | 2010        |       |   | 2009        |   |
|                                                       |   | (Unaudited) |       |   | (Audited)   |   |
| ASSETS                                                     |   |        |       |   |        |   |
| Current Assets:                                            |   |        |       |   |        |   |
| Cash                                                       |   | $           | 553        |   |        | $      | 696 |   |
| Accounts Receivable                                        |   |        | -          |   |        |   | - |   |
| Prepaid Expenses                                           |   |        | 295        |   |        |   | 6,295 |   |
| Inventory                                                  |   |        | 94,552     |   |        |   | 92,738 |   |
| Total Current Assets                                       |   |        | 95,400     |   |        |   | 99,729 |   |
|                                                       |   |        |       |   |        |   |   |   |
| Equipment                                                  |   |        | 8,339      |   |        |   | 36,608 |   |
| Less:  Accumulated Depreciation                  |   |        | (5,005     | )      |        |   | (22,008 | ) |
| Total Equipment                                            |   |        | 3,334      |   |        |   | 14,600 |   |
|                                                       |   |        |       |   |        |   |   |   |
| Total Assets                                               |   | $           | 98,734     |   |        | $      | 114,329 |   |
|                                                       |   |        |       |   |        |   |   |   |
| LIABILITIES & STOCKHOLDERS' DEFICIT                    |   |        |       |   |        |   |   |   |
| Current Liabilities                                        |   |        |       |   |        |   |   |   |
| Accounts Payable                                           |   | $           | 187,881    |   |        | $      | 118,903 |   |
| Accrued Payroll Taxes Payable                              |   |        | 49,621     |   |        |   | 56,550 |   |
| Accrued Wages & Accounts Payable Officers              |   |        | 125,791    |   |        |   | 61,979 |   |
| Promissory Notes Payable                                   |   |        | 150,689    |   |        |   | 111,825 |   |
| Current Portion of Long Term Notes Payable                 |   |        | 61,264     |   |        |   | 87,052 |   |
| Total Current Liabilities                                  |   |        | 575,246    |   |        |   | 436,309 |   |
|                                                       |   |        |       |   |        |   |   |   |
| Long Term Notes Payable                                    |   |        | -          |   |        |   | - |   |
|                                                       |   |        |       |   |        |   |   |   |
| Total Liabilities                                          |   |        | 575,246    |   |        |   | 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 20 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                                        |   |        | (2,760,784 | )      |        |   | (2,606,252 | ) |
|                                                       |   |        |       |   |        |   |   |   |
| Total Stockholders' (Deficit)                              |   |        | (476,512   | )      |        |   | (321,980 | ) |
|                                                       |   |        |       |   |        |   |   |   |
| Total Liabilities and Stockholders' Deficit                |   | $           | 98,734     |   |        | $      | 114,329 |   |

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DI

|                                    |   | For the Three Month Period |    |   | For the Six Month Period |   |
|-----------------------------------------|--------|----------------------------|---------|--------|--------------------------|--------|
|                                    |   | Ending June 30,            |    |   | Ending June 30,          |   |
|                                    |   | 2010                       |    |   | 2009                     |   |   | 2010 |   |   | 2009 |   |
|                                    |   | (Unaudited)                |    |   | (Unaudited)              |   |   | (Unaudited) |   |   | (Unaudited) |   |
| Revenues                                |   | $                          | 2,697   |   |                     | $      | 30,264 |   |   | $ | 3,886 |   |   | $ | 35,838 |   |
| Cost of Goods Sold                      |   |                       | 600     |   |                     |   | 16,426 |   |   |   | 1,802 |   |   |   | 18,952 |   |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Gross Profit                            |   |                       | 2,097   |   |                     |   | 13,838 |   |   |   | 2,084 |   |   |   | 16,886 |   |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Operating Expenses                      |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| General and Administrative              |   |                       | 79,662  |   |                     |   | 76,116 |   |   |   | 129,557 |   |   |   | 148,021 |   |
| Stock based compensation                |   |                       | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |
| Depreciation and amortization           |   |                       | 1,424   |   |                     |   | 3,314 |   |   |   | 2,848 |   |   |   | 7,311 |   |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Total Operating Expenses                |   |                       | 81,086  |   |                     |   | 79,430 |   |   |   | 132,405 |   |   |   | 155,332 |   |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Other Expenses                          |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Gain on Sale of Equipment               |   |                       | (3,722  | )      |                     |   | - |   |   |   | (3,722 | ) |   |   | - |   |
| Loss on repurchase of royalty agreement |   |                       | -       |   |                     |   | (6,250 | ) |   |   | - |   |   |   | (6,250 | ) |
| Interest expense                        |   |                       | (11,067 | )      |                     |   | (4,095 | ) |   |   | (20,489 | ) |   |   | (8,811 | ) |
| Total Other Expenses                    |   |                       | (14,789 | )      |                     |   | (10,345 | ) |   |   | (24,211 | ) |   |   | (15,061 | ) |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net  (Loss)                   |   | $                          | (93,778 | )      |                     | $      | (75,937 | ) |   | $ | (154,532 | ) |   | $ | (153,507 | ) |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net (Loss) Per Common Share             |   | $                          | (0.32   | )      |                     | $      | (1.26 | ) |   | $ | (0.53 | ) |   | $ | (2.56 | ) |
|                                    |   |                       |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares outstanding     |   |                       | 292,233 |   |                     |   | 60,061 |   |   |   | 292,233 |   |   |   | 60,061 |   |

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HO

|                                                                            |   | For the Six Month Period |     |
|---------------------------------------------------------------------------------|--------|--------------------------|----------|
|                                                                            |   | Ending June 30           |     |
|                                                                            |   | 2010                     |     |   | 2009 |   |
|                                                                            |   | (Unaudited)              |     |   | (Unaudited) |   |
| Cash Flows from Operating Activities                                            |   |                     |     |   |   |   |
|                                                                            |   |                     |     |   |   |   |
| Net (Loss)                                                                      |   | $                        | (154,532 | ) |   | $ | (153,507 | ) |
|                                                                            |   |                     |     |   |   |   |   |   |
| Adjustments to reconcile net loss to net cash provided by operating activities: |   |                     |     |   |   |
| Depreciation & amortization                                                 |   |                     | 2,484    |   |   |   | 7,311 |   |
| Stock based issued for expenses                                                 |   |                     |     |   |   |   | 6,250 |   |
| Officer compensation contributed to capital                                     |   |                     |     |   |   |   | 50,882 |   |
| Loss on sale of assets                                                          |   |                     | 3,722    |   |   |   | - |   |
| Changes in assets and liabilities:                                              |   |                     |     |   |   |   |   |   |
| Accounts receivable                                                             |   |                     | -        |   |   |   | (363 | ) |
| Prepaid expenses                                                                |   |                     | 6,000    |   |   |   | 2,250 |   |
| Inventory                                                                       |   |                     | (1,814   | ) |   |   | (4,081 | ) |
| Accounts payable                                                                |   |                     | 68,978   |   |   |   | (159,087 | ) |
| Accrued payroll taxes                                                           |   |                     | (6,929   | ) |   |   | 15,555 |   |
| Notes payable                                                                   |   |                     | 13,076   |   |   |   | - |   |
| Accrued wages                                                                   |   |                     | 63,812   |   |   |   | 60,763 |   |
|                                                                            |   |                     |     |   |   |   |   |   |
| Net Cash Used in Operating Activities                                           |   |                     | (5,203   | ) |   |   | (174,027 | ) |
|                                                                            |   |                     |     |   |   |   |   |   |
| Cash Flows Used in Investing Activities:                                        |   |                     |     |   |   |   |   |   |
| Proceeds from sale of assets                                                    |   |                     | 5,060    |   |   |   | - |   |
|                                                                            |   |                     |     |   |   |   |   |   |
| Cash Flows Used in Investing Activities                                         |   |                     | 5,060    |   |   |   | - |   |
|                                                                            |   |                     |     |   |   |   |   |   |
| Cash Flows From Financing Activities:                                           |   |                     |     |   |   |   |   |   |
| Sale of securities for cash, net                                                |   |                     | -        |   |   |   | 10,000 |   |
| Conversion of Notes Payable                                                     |   |                     | -        |   |   |   | 103,551 |   |
|                                                                            |   |                     |     |   |   |   |   |   |
| Net Cash From Financing Activities                                              |   |                     | -        |   |   |   | 113,551 |   |
|                                                                            |   |                     |     |   |   |   |   |   |
| Net (Decrease) Increase in Cash                                                 |   | $                        | (143     | ) |   | $ | (60,476 | ) |
| Cash at Beginning of Period                                                     |   |                     | 696      |   |   |   | 65,954 |   |
| Cash at End of Period                                                           |   | $                        | 553      |   |   | $ | 5,478 |   |

|                                                                  | Six Months Ended June 30, |   |
|-----------------------------------------------------------------------|---------------------------|--------|
| Supplemental disclosure of cash flow information:                     |                      | 2010   |   |   | 2009 |   |
| Cash paid for:                                                        |                      |   |   |   |   |   |
| Interest                                                              |                      | $      | 2,500 |   |   | $ | 2,380 |   |
| Taxes                                                                 |                      | $      | - |   |   | $ | - |   |
|                                                                  |                      |   |   |   |   |   |   |   |
| Supplemental schedule of non-cash investing and financing activities: |                      |   |   |   |   |
| Officers compensation contributed to capital                          |                      | $      | - |   |   | $ | 50,882 |   |
| Shares isssued for payment of indebtedness                            |                      | $      | - |   |   | $ | 103,551 |   |
| Increase in vendor notes payable                                      |                      | $      | 18,000 |   |   | $ | - |   |

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|                       |   | June 30, |   |   | December 31, |   |
|----------------------------|--------|----------|--------|--------|--------------|--------|
|                       |   | 2010     |   |   | 2009         |   |
| Motorcycles and prototypes |   | $        | 83,246 |   |         | $      | 83,246 |   |
| Parts and supplies         |   |     | 22,928 |   |         |   | 23,072 |   |
| Less valuation allowance   |   |     | 11,622 |   |         |   | 13,580 |   |
|                       |   | $        | 94,552 |   |         | $      | 92,738 |   |

|                           |   | June 30, |   |   | December 31, |   |
|--------------------------------|--------|----------|--------|--------|--------------|--------|
|                           |   | 2010     |   |   | 2009         |   |
| Machinery, plant and equipment |   | $        | 8,339  |   |         | $      | 36,608 |   |
| Accumulated depreciation       |   |     | (5,005 | )      |         |   | (22,008 | ) |
|                           |   | $        | 3,334  |   |         | $      | 14,600 |   |

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| Demand promissory notes due officer with interest at 12% per annum                                                                                                 |   | $      | 67,789   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|
|                                                                                                                                                               |   |   |     |   |
| Demand promissory notes due vendors with interest at 12% per annum                                                                                                 |   |   | 150,689  |   |
|                                                                                                                                                               |   |   |     |   |
| Unsecured convertible promissory notes with interest at 6% per annum and convertible at the rate of $40.00 per share.                                              |   |   | 55,447   |   |
|                                                                                                                                                               |   |   |     |   |
| Secured convertible promissory note with interest at 10% per annum and convertible at the rate of $0.0025 per share but limited to 300,000 shares of common stock. |   |   | 5,817    |   |
|        Total                                                                                                                    |   | $      | 279,742  |   |
| Less current portion                                                                                                                                               |   |   | (279,742 | )      |
| Long-term debt                                                                                                                                                     |   | $      | -        |   |

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|                                                                         |   |   |    |   | 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                                          |   | $      | 5,551   |   |       | $      | .0025   |   |   (a) |       |   | 300,000 |   |
| Unsecured convertible promissory notes                                       |   |   | 55,712  |   |       |   | 40.0000 |   |       |       |   | 1,393 |   |
| Series A convertible preferred stock                                         |   |   | 300,000 |   |       |   | 22.5000 |   |       |       |   | 13,333 |   |
| Series B convertible preferred stock                                         |   |   | 15,000  |   |       |   | 1.0000  |   |       |       |   | 15,000 |   |
| Class A warrants                                                             |   |   |    |   |       |   | 45.0000 |   |       |       |   | 13,333 |   |
| Class B warrants                                                             |   |   |    |   |       |   | 25.0000 |   |       |       |   | 600 |   |
| 2009 Consultants Stock Compensation Plan                                     |   |   |    |   |       |   |    |   |       |       |   |   |   |
| Vested options outstanding                                                   |   |   |    |   |       |   | 1.0000  |   |       |       |   | 200,000 |   |
| Reserved for future issuance                                                 |   |   |    |   |       |   |    |   |       |       |   | 740,000 |   |
| Selling agent warrants                                                       |   |   |    |   |       |   | 54.0000 |   |       |       |   | 2,497 |   |
| Shares of common stock available for future issuance                         |   |   |    |   |       |   |    |   |       |       |   | 96,421,905 |   |

| ______________ |
|----------------|
|           |   |
| (a)            | Conversion is limited to no more than 300,000 shares of common stock. |

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|                                                              |   | For the Six Months  |    |   | For the Twelve Months           |   |
|-------------------------------------------------------------------|--------|---------------------|---------|--------|---------------------------------|--------|
|                                                              |   | Ended June 30, 2010 |    |   | Ended December 31, 2009         |   |
|                                                              |   | Shares              |    |   | Weighted Average Exercise Price |   |   | Shares |   |   | Weighted Average Exercise 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                            |   |            2.67 |   | $ | 45.00 |   | 13,333 | $ | 45.00 |
| $        | 25.00                |        |                   600 |   |            3.75 |   | $ | 25.00 |   | 600 | $ | 25.00 |
| $        | 54.00                |        |                2,497                 |   |            2.75 |   | $ | 54.00 |   | 2,497 | $ | 54.00 |
| $        | 1.00                 |        |            200,000                                       |   |            9.67 |   | $ | 1.00 |   | 200,000 | $ | 1.00 |

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|                                        |   | June 30, |    |   | December 31, |   |
|---------------------------------------------|--------|----------|---------|--------|--------------|--------|
|                                        |   | 2010     |    |   | 2009         |   |
| Deferred tax assets:                        |   |     |    |   |         |   |
| Net operating loss and credit carryforwards |   | $        | 989,173 |   |         | $      | 930,451 |   |
| Less valuation allowance                    |   |     | 989,173 |   |         |   | 930,451 |   |
| Total deferred tax assets                   |   | $        | -       |   |         | $      | - |   |

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Qualitative Disclosures 

rols

PART II –

eg

 Sales 

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Upon Senior 

 a Vote 

Info

6.     

| 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.                                                                                                                                                                      |

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NA

|   |            |   | DAM Holdings, Inc.                                           |   |
|--------|-----------------|--------|--------------------------------------------------------------|--------|
|   |            |   |                                                         |   |
|   |            |   |                                                         |   |
| Date:  | August 16, 2010 |   | /s/ MARK S. KLEIN                                            |   |
|   |            |   | Mark S. Klein, President                                     |   |
|   |            |   | Principal Executive Officer and Principal Accounting Officer |   |

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