UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549


_______________





FORM
10-Q


_______________





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





For
the quarterly period ended March 31, 2010





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





For the transition period from
______to______.





ACE
Consulting Management, Inc.


(Exact
name of registrant as specified in Charter)





DELAWARE
            
            000-50413
            
            98-0407797(State
      or other jurisdiction of
              incorporation
      or organization)
            
            (Commission
      File No.)
            
            (IRS
      Employee Identification No.)





923
E. Valley Blvd, Suite 103B, San Gabriel, CA


(Address
of Principal Executive Offices)


_______________





(626)
307-2273


(Issuer
Telephone number)


_______________





(Former Name or Former
Address if Changed Since Last Report)





Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months
(or for such shorter period that the issuer was required to file such reports),
and (2)has been subject to such filing requirements for the past 90
days.


Yes x No o





Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this
chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).


Yes o No o





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





Large
Accelerated Filer o    Accelerated
Filer o     Non-Accelerated
Filer o     Smaller
Reporting Company x





Indicate
by check mark whether the registrant is a shell company as defined in Rule 12b-2
of the Exchange Act.


Yes x No o





State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of May 19, 2010:  4,640,000 shares of Common
Stock.










ACE
CONSULTING MANAGEMENT, INC.





FORM
10-Q


March
31, 2010


INDEX








PART
I-- FINANCIAL INFORMATION





Item
      1.
              Financial
      Statements
              F-1
      - F-10Item
      2.
              Management’s
      Discussion and Analysis of Financial Condition
              1Item
      3.
              Quantitative
      and Qualitative Disclosures About Market Risk
              2Item
      4T.
              Control
      and Procedures
              2
 
 PART
II-- OTHER INFORMATION
 
 Item
      1
              Legal
      Proceedings
              3Item
      1A
              Risk
      Factors
              3Item
      2.
              Unregistered
      Sales of Equity Securities and Use of Proceeds
              3Item
      3.
              Defaults
      Upon Senior Securities
              3Item
      4.
              Submission
      of Matters to a Vote of Security Holders
              3Item
      5.
              Other
      Information
              3Item
      6.
              Exhibits
      and Reports on Form 8-K
              3





SIGNATURE








i




Item 1. Financial
Information








ACE
CONSULTING MANAGEMENT, INC.
 
 (A
DEVELOPMENT STAGE COMPANY)
 
 March 31,
2010 and 2009
 
 Index to
Financial Statements
 
 
 FINANCIAL
      STATEMENTS
                Page
      #Balance
      Sheets as of March 31, 2010 (Unaudited) and December 31,
    2009
                F-1Statements
      of Operations for the Three Months Ended March 31, 2010 and 2009 and for
      the period Period from September 19, 2003 (Inception) through March 31,
      2010 (Unaudited)
                F-2Statement
      of Stockholders’ Equity (Deficit) for the Period from September 19, 2003
      (Inception)
                  through
      March 31, 2010
                F-3Statements
      of Cash flows for the Three Months Ended March 31, 2010 and 2009 and for
      the period Period from September 19, 2003 (Inception) through March 31,
      2010 (Unaudited)
                F-4Notes
      to the Financial Statements (Unaudited)
                F-5
 
 
 ii
 
 
 
 ACE
CONSULTING MANAGEMENT, INC.
 
 (A
DEVELOPMENT STAGE COMPANY)
 
 Balance
Sheets
 
 
 ASSETSMarch
      31,
                2010
              
              
              December
      31,
                2009(Unaudited)Current
      Assets:Cash
              
              $
              48,386
              
              
              $
              -Total
      current assets
              
              
              48,386
              
              
              
              -TOTAL
      ASSETS
              
              $
              48,386
              
              
              $
              -LIABILITIES
      AND STOCKHOLDERS' EQUITY (DEFICIT)Current
      Liabilities:Accrued
      expenses
              
              $
              1,000
              
              
              $
              14,400Total
      Current Liabilities
              
              
              1,000
              
              
              
              14,400Stockholders'
      Equity (Deficit):Common
      stock: $0.001 par value; 50,000,000 shares authorized; 4,640,000 and
      100,000 shares issued and outstanding, respectively
              
              
              4,640
              
              
              
              100Additional
      paid-in capital
              
              
              235,110
              
              
              
              -Deficit
      accumulated during the development stage
              
              
              (192,364
              )
              
              
              (14,500
              )Total
      Stockholders’ Equity (Deficit)
              
              
              47,386
              
              
              
              (14,400
              )TOTAL
      LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
              
              $
              48,386
              
              
              $
              -
 
 See
accompanying notes to the financial statements.
 F-1
 
 ACE
CONSULTING MANAGEMENT, INC.
 
 (A
DEVELOPMENT STAGE COMPANY)
 
 Statements
of Operations
 (Unaudited)
 
 
 For
      the
                Three
      Months Ended
                March
      31, 2010
              
              
              For
      the
                Three
      Months Ended
                March
      31, 2009
              
              
              For
      the
                Period
      From September 19, 2003
                (Inception)
                through
                March
      31, 2010Revenues
              
              $
              -
              
              
              $
              -
              
              
              $
              -Operating
      expenses:Professional
      fees
              
              
              10,600
              
              
              
              500
              
              
              
              25,000Stock
      Compensation
              
              
              165,500
              
              
              
              -
              
              
              
              165,600General
      and administrative
              
              
              1,764
              
              
              
              -
              
              
              
              1,764Total
      operating expenses
              
              
              177,864
              
              
              
              500
              
              
              
              192,364Loss
      from operations
              
              
              (177,864
              )
              
              
              (500
              )
              
              
              (192,364
              )Loss
      before income taxes
              
              
              (177,864
              )
              
              
              (500
              )
              
              
              (192,364
              )Income
      tax provision
              
              
              -
              
              
              
              -
              
              
              
              -Net
      loss
              
              $
              (177,864
              )
              
              $
              (500
              )
              
              $
              (192,364
              )Net loss per common share –
                basic
      and diluted
              
              $
              (0.05
              )
              
              $
              (0.005
              )
              
              $
              (0.80
              )Weighted average number of common shares outstanding – basic and
      diluted
              
              
              3,827,444
              
              
              
              100,000
              
              
              
              240,658
 
 See
accompanying notes to the financial statements.
 F-2
 
 
 ACE
CONSULTING MANAGEMENT, INC.
 
 (A DEVELOPMENT STAGE
COMPANY)
 
 Statement
of Stockholders’ Equity (Deficit)
 
 For the
Period from September 19, 2003 (Inception) through March 31, 2010
 
 Common
      Shares
              
              
              Amount
              
              
              Additional
      Paid-in Capital
              
              
              Deficit
                Accumulated
                During
      the
                Development
                Stage
              
              
              Total
      Stockholders’ Equity
                (Deficit)September
      23, 2009 (Inception)
              
              
              100,000
              
              
              $
              100
              
              
              $
              -
              
              
              $
              -
              
              
              $
              100Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (1,050
              )
              
              
              (1,050
              )Balance,
      December 31, 2003
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (1,050
              )
              
              
              (950
              )Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (1,250
              )
              
              
              (1,250
              )Balance,
      December 31, 2004
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (2,300
              )
              
              
              (2,200
              )Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (1,650
              )
              
              
              (1,650
              )Balance,
      December 31, 2005
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (3,950
              )
              
              
              (3,850
              )Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (1,800
              )
              
              
              (1,800
              )Balance,
      December 31, 2006
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (5,750
              )
              
              
              (5,650
              )Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (2,250
              )
              
              
              (2,250
              )Balance,
      December 31, 2007
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (8,000
              )
              
              
              (7,900
              )Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (3,250
              )
              
              
              (3,250
              )Balance,
      December 31, 2008
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (11,250
              )
              
              
              (11,150
              )Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (3,250
              )
              
              
              (3,250
              )Balance,
      December 31, 2009
              
              
              100,000
              
              
              
              100
              
              
              
              -
              
              
              
              (14,500
              )
              
              
              (14,400
              )Accrued
      expenses paid by
                stockholder
              
              
              
              
              
              
              
              
              
              
              12,650
              
              
              
              
              
              
              
              12,650Stock
      issued for compensation
                at
      $0.05 per share on
                January
      5, 2010
              
              
              3,310,000
              
              
              
              3,310
              
              
              
              162,190
              
              
              
              -
              
              
              
              165,500Sale
      of common stock at $0.05
                per
      share on February 16, 2010
              
              
              1,230,000
              
              
              
              1,230
              
              
              
              60,270
              
              
              
              
              
              
              
              61,500Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (177,864
              )
              
              
              (177,864
              )Balance,
      March 31, 2010
              
              
              4,640,000
              
              
              $
              4,640
              
              
              $
              235,110
              
              
              $
              (192,364
              )
              
              $
              47,386See
      accompanying notes to the financial statements.
 
 
 F-3
  ACE
CONSULTING MANAGEMENT, INC.
 
 (A
DEVELOPMENT STAGE COMPANY)
 
 Statements
of Cash Flows
 
 (Unaudited)
 
 Three
                Months
                ended
                March
      31, 2010
              
              
              Three
                Months
                ended
                March
      31, 2009
              
              
              Period
      from
                September
      19,
                2003
      (Inception)
                to
                March
      31,
                2010Cash
      Flows From Operating Activities:Net
      loss
              
              $
              (177,864
              )
              
              $
              (500
              )
              
              $
              (192,364
              )Adjustments
      to reconcile net loss to net cash used in operating
      activities:Stock
      based compensation
              
              
              165,500
              
              
              
              -
              
              
              
              165,600Changes
      in operating assets and liabilities:Increase
      (decrease) in accrued expenses
              
              
              (13,400
              )
              
              
              500
              
              
              
              1,000Net
      cash used in operating activities
              
              
              (25,764
              )
              
              
              -
              
              
              
              (25,764
              )Cash
      Flows From Financing Activities:Payment
      of accrued expenses by
                stockholder
              
              
              12,650
              
              
              
              -
              
              
              
              12,650Proceeds
      from sale of common stock
              
              
              61,500
              
              
              
              -
              
              
              
              61,500Net
      cash provided by financing
                activities
              
              
              74,150
              
              
              
              -
              
              
              
              74,150Net
      increase in cash
              
              
              48,386
              
              
              
              -
              
              
              
              48,386Cash
      at beginning of period
              
              
              -
              
              
              
              -
              
              
              
              -Cash
      at end of period
              
              $
              48,386
              
              
              $
              -
              
              
              $
              48,386Supplemental
      disclosures of cash flow
                informationInterest
      paid
              
              $
              -
              
              
              $
              -
              
              
              $
              -Income
      taxes paid
              
              $
              -
              
              
              $
              -
              
              
              $
              -
 
 See
accompanying notes to financial statements.
 
 F-4




ACE
CONSULTING MANAGEMENT, INC.
 
 (A
DEVELOPMENT STAGE COMPANY)
 
 March 31,
2010 and 2009
 NOTES TO
THE FINANCIAL STATEMENTS
 (UNAUDITED)
 
 1.                    
Organization and Operations
 
 ACE
Consulting Management, Inc. (“the Company”), a development stage company, was
incorporated on September 19, 2003 under the laws of the State of
Delaware.  Initial operations have included organization and
incorporation, target market identification, new product development, marketing
plans, and capital formation.  A
substantial portion of the Company’s activities has involved developing a
business plan and establishing contacts and visibility in the
marketplace.  The Company has not generated any revenues since
inception.  The Company plans to engage in consulting to corporations
to improve growth strategies, performance enhancement and maximization of
shareholder value.
    2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
  Basis
of Presentation
 
 The
accompanying unaudited interim financial statements and related notes have been
prepared in accordance with accounting principles generally accepted in the
United States of America (“U.S. GAAP”) for interim financial information, and
with the rules and regulations of the United States Securities and Exchange
Commission (“SEC”) to Form 10-Q and Article 8 of Regulation
S-X.  Accordingly, they do not include all of the information and
footnotes required by U.S. GAAP for complete financial statements.  The
unaudited interim financial statements furnished reflect all adjustments
(consisting of normal recurring accruals) which are, in the opinion of
management, necessary to a fair statement of the results for the interim periods
presented.  Interim results are not necessarily indicative of the
results for the full year.  These financial statements should be read
in conjunction with the financial statements of the Company for the year
ended December 31, 2009 and notes thereto contained in the Company’s Annual
Report on Form 10-K as filed with the SEC on February 11, 2010.
 
 Development
Stage Company
 
 The Company is a development stage company as defined bysection 810-10-20 of the FASB Accounting Standards Codification. The Company is still devoting substantially all of its
efforts on establishing the business and its planned principal operations have
not commenced.  All losses accumulated since inception have been
considered as part of the Company’s exploration stage
activities.
 
 Reclassification
 
 Certain
amounts in the prior period financial statements have been reclassified to
conform to the current period presentation.   These
reclassifications had no effect on reported losses.
 
 Use
of Estimates
 
 The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities as of the date of the financial statements and
reporting period.  Accordingly, actual results could differ from those
estimates.
   F-5
  Cash
and Cash Equivalents
  The
company considers all highly liquid investments purchased with an original
maturity of three months or less to be cash
equivalents.
  Fair
Value of Financial Instruments
 
 U.S. GAAP
for fair value measurements establishes a fair value hierarchy which prioritizes
the inputs to valuation techniques used to measure fair value into three levels.
The fair value hierarchy gives the highest priority to quoted market prices
(unadjusted) in active markets for identical assets or liabilities (Level 1) and
the lowest priority to unobservable inputs (Level 3). Level 2 inputs are
inputs, other than quoted prices included within Level 1, which are
observable for the asset or liability, either directly or indirectly.The fair value hierarchy
gives the highest priority to quoted prices (unadjusted) in active markets for
identical assets or liabilities and the lowest priority to unobservable
inputs.
 
 The
carrying amounts of the Company’s financial assets and liabilities, such as cash
and accrued expenses approximate their fair values because of the short maturity
of these instruments.
 
 The
Company does not have any assets or liabilities measured at fair value on a
recurring or a non-recurring basis, consequently, the Company did not have any
fair value adjustments for assets and liabilities measured at fair value at
March 31, 2010 and December 31, 2009, nor gains or losses are reported in the
statement of operations that are attributable to the change in unrealized gains
or losses relating to those assets and liabilities still held at the reporting
date for the interim periods ended March 31, 2010 and 2009 and for the period
from September 19, 2003 (inception) through March 31, 2010.
 
 Revenue
Recognition
 
 The
Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards
Codification for revenue recognition.  The Company will recognize
revenue when it is realized or realizable and earned.  The Company
considers revenue realized or realizable and earned when all of the following
criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the
product has been shipped or the services have been rendered to the customer,
(iii) the sales price is fixed or determinable, and (iv) collectability is
reasonably assured.
  Income
Taxes
  The
Company follows Section 740-10-30 of the FASB Accounting Standards Codification,
which requires recognition of deferred tax assets and liabilities for the
expected future tax consequences of events that have been included in the
financial statements or tax returns.  Under this method, deferred tax
assets and liabilities are based on the differences between the financial
statement and tax bases of assets and liabilities using enacted tax rates in
effect for the year in which the differences are expected to
reverse.  Deferred tax assets are reduced by a valuation allowance to
the extent management concludes it is more likely than not that the assets will
not be realized.  Deferred tax assets and liabilities are measured
using enacted tax rates expected to apply to taxable income in the years in
which those temporary differences are expected to be recovered or
settled.  The effect on deferred tax assets and liabilities of a
change in tax rates is recognized in the Statements of Operations in the period
that includes the enactment date.
   F-6
 
 The Company adoptedsection 740-10-25 of the FASB
Accounting Standards Codification (“Section 740-10-25”).Section 740-10-25.addresses the determination of whether tax benefits
claimed or expected to be claimed on a tax return should be recorded in the
financial statements.  UnderSection 740-10-25, the Company may recognize the tax benefit from an
uncertain tax position only if it is more likely than not that the tax position
will be sustained on examination by the taxing authorities, based on the
technical merits of the position.  The tax benefits recognized in the
financial statements from such a position should be measured based on the
largest benefit that has a greater than fifty percent (50%) likelihood of being
realized upon ultimate settlement.Section 740-10-25also provides guidance on de-recognition,
classification, interest and penalties on income taxes, accounting in interim
periods and requires increased disclosures.  The Company had no
material adjustments to its liabilities for unrecognized income tax benefits
according to the provisions ofSection 740-10-25.
  Net
Loss Per Common Share
  Net loss
per common share is computed pursuant to section 260-10-45 of the FASB
Accounting Standards Codification.  Basic net loss per share is computed by dividing net
loss by the weighted average number of shares of common stock outstanding during
the period.  Diluted net loss per share is computed by dividing net
loss by the weighted average number of shares of common stock and potentially
outstanding shares of common stock during each period.  There were no
potentially dilutive shares outstanding as of March 31, 2010 and 2009 or
for the period from September 19, 2003 (inception) through March 31,
2010.
 
 RECENTLY
ISSUED ACCOUNTING PRONOUNCEMENTS
 
 In June
2003, the Securities and Exchange Commission (“SEC”) adopted final rules under
Section 404 of the Sarbanes-Oxley Act of 2002 (“Section 404”), as amended by SEC Release No. 33-9072 on October 13,
2009.  Commencing with its annual report for the fiscal year ending
December 31, 2010, the Company will be required to include a report of
management on its internal control over financial reporting. The internal
control report must include a statement
  Of
management’s responsibility for establishing and maintaining adequate internal
control over its financial reporting;
  Of
management’s assessment of the effectiveness of its internal control over
financial reporting as of year end; and
  Of the
framework used by management to evaluate the effectiveness of the Company’s
internal control over financial reporting.
 Furthermore,
it is required to file the auditor’s attestation report separately on the
Company’s internal control over financial reporting on whether it believes that
the Company has maintained, in all material respects, effective internal control
over financial reporting.
 
 In
June 2009, the FASB approved the “FASB Accounting Standards Codification”
(the “Codification”) as the single source of authoritative nongovernmental U.S.
GAAP to be launched on July 1, 2009.  The Codification does not
change current U.S. GAAP, but is intended to simplify user access to all
authoritative U.S. GAAP by providing all the authoritative literature related to
a particular topic in one place.  All existing accounting standard
documents will be superseded and all other accounting literature not included in
the Codification will be considered non-authoritative. The Codification is
effective for interim and annual periods ending after September 15,
2009.
 
 In
August 2009, the FASB issued the FASB Accounting Standards Update No.
2009-04 “Accounting for
Redeemable Equity Instruments - Amendment to Section 480-10-S99” which
represents an update to section 480-10-S99, distinguishing liabilities from
equity, per EITF Topic D-98, Classification and Measurement of
Redeemable Securities.  The Company does not expect the
adoption of this update to have a material impact on its consolidated financial
position, results of operations or cash flows.
   F-7
 
 In
August 2009, the FASB issued the FASB Accounting Standards Update No.
2009-05 “Fair Value
Measurement and Disclosures Topic 820 – Measuring Liabilities at Fair
Value”, which provides amendments to subtopic 820-10, Fair Value
Measurements and Disclosures – Overall, for the fair value measurement of
liabilities.  This update provides clarification that in circumstances
in which a quoted price in an active market for the identical liability is not
available, a reporting entity is required to measure fair value using one or
more of the following techniques: 1. A valuation technique that uses: a. The
quoted price of the identical liability when traded as an asset b. Quoted prices
for similar liabilities or similar liabilities when traded as assets. 2. Another
valuation technique that is consistent with the principles of topic 820; two
examples would be an income approach, such as a present value technique, or a
market approach, such as a technique that is based on the amount at the
measurement date that the reporting entity would pay to transfer the identical
liability or would receive to enter into the identical liability. The amendments
in this update also clarify that when estimating the fair value of a liability,
a reporting entity is not required to include a separate input or adjustment to
other inputs relating to the existence of a restriction that prevents the
transfer of the liability. The amendments in this update also clarify that both
a quoted price in an active market for the identical liability when traded as an
asset in an active market when no adjustments to the quoted price of the asset
are required are Level 1 fair value measurements.  The Company does
not expect the adoption of this update to have a material impact on its
consolidated financial position, results of operations or cash
flows.
 
 In
September 2009, the FASB issued the FASB Accounting Standards Update No.
2009-08 “Earnings Per Share –
Amendments to Section 260-10-S99”,which represents technical corrections
to topic 260-10-S99, Earnings per share, based on EITF Topic D-53, Computation of Earnings Per Share
for a Period that includes a Redemption or an Induced Conversion of a Portion of
a Class of Preferred Stock and EITF Topic D-42, The Effect of the Calculation of
Earnings per Share for the Redemption or Induced Conversion of Preferred
Stock. The Company does not expect the adoption of this update to have a
material impact on its consolidated financial position, results of operations or
cash flows.
 
 In
September 2009, the FASB issued the FASB Accounting Standards Update No.
2009-09 “Accounting for
Investments-Equity Method and Joint Ventures and Accounting for Equity-Based
Payments to Non-Employees”.  This update represents a
correction to Section 323-10-S99-4, Accounting by an Investor for
Stock-Based Compensation Granted to Employees of an Equity Method
Investee. Additionally, it adds observer commentAccounting Recognition for Certain
Transactions Involving Equity Instruments Granted to Other Than Employees
to the Codification. The Company does not expect the adoption to have a material
impact on its consolidated financial position, results of operations or cash
flows.
 
 In
September 2009, the FASB issued the FASB Accounting Standards Update No.
2009-12 “Fair Value
Measurements and Disclosures Topic 820 – Investment in Certain Entities That
Calculate Net Assets Value Per Share (or Its Equivalent)”, which provides
amendments to Subtopic 820-10, Fair Value Measurements and Disclosures-Overall,
for the fair value measurement of investments in certain entities that calculate
net asset value per share (or its equivalent). The amendments in this update
permit, as a practical expedient, a reporting entity to measure the fair value
of an investment that is within the scope of the amendments in this update on
the basis of the net asset value per share of the investment (or its equivalent)
if the net asset value of the investment (or its equivalent) is calculated in a
manner consistent with the measurement principles of Topic 946 as of the
reporting entity’s measurement date, including measurement of all or
substantially all of the underlying investments of the investee in accordance
with Topic 820. The amendments in this update also require disclosures by major
category of investment about the attributes of investments within the scope of
the amendments in this update, such as the nature of any restrictions on the
investor’s ability to redeem its investments a the measurement date, any
unfunded commitments (for example, a contractual commitment by the investor to
invest a specified amount of additional capital at a future date to fund
investments that will be make by the investee), and the investment strategies of
the investees. The major category of investment is required to be determined on
the basis of the nature and risks of the investment in a manner consistent with
the guidance for major security types in U.S. GAAP on investments in debt and
equity securities in paragraph 320-10-50-1B. The disclosures are required for
all investments within the scope of the amendments in this update regardless of
whether the fair value of the investment is measured using the practical
expedient. The Company does not expect the adoption to have a material impact on
its consolidated financial position, results of operations or cash
flows.
   F-8
  In
January 2010, the FASB issued the FASB Accounting Standards Update No.
2010-01 “Equity Topic 505 –
Accounting for Distributions to Shareholders with Components of Stock and
Cash”, which clarify that the stock portion of a distribution to
shareholders that allows them to elect to receive cash or stock with a potential
limitation on the total amount of cash that all shareholders can elect to
receive in the aggregate is considered a share issuance that is reflected in EPS
prospectively and is not a stock dividend for purposes of applying Topics 505
and 260 (Equity and Earnings Per Share (“EPS”)).  Those distributions
should be accounted for and included in EPS calculations in accordance with
paragraphs 480-10-25- 14 and 260-10-45-45 through 45-47 of the FASB Accounting
Standards codification.  The amendments in this Update also provide a
technical correction to the Accounting Standards Codification.  The
correction moves guidance that was previously included in the Overview and
Background Section to the definition of a stock dividend in the Master
Glossary.  That guidance indicates that a stock dividend takes nothing
from the property of the corporation and adds nothing to the interests of the
stockholders.  It also indicates that the proportional interest of
each shareholder remains the same, and is a key factor to consider in
determining whether a distribution is a stock dividend.
 In
January 2010, the FASB issued the FASB Accounting Standards Update No.
2010-02 “Consolidation Topic
810 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a
Scope Clarification”, which provides amendments to Subtopic 810-10 and
related guidance within U.S. GAAP to clarify that the scope of the decrease in
ownership provisions of the Subtopic and related guidance applies to the
following:
  1.      A
subsidiary or group of assets that is a business or nonprofit
activity
 2.      A
subsidiary that is a business or nonprofit activity that is transferred to an
equity method investee or joint venture
 3.      An
exchange of a group of assets that constitutes a business or nonprofit activity
for a non-controlling interest in an entity (including an equity method investee
or joint venture).
 
 The
amendments in this Update also clarify that the decrease in ownership guidance
in Subtopic 810-10 does not apply to the following transactions even if they
involve businesses:
 
 1.      Sales
of in substance real estate.  Entities should apply the sale of real
estate guidance in Subtopics 360-20 (Property, Plant, and Equipment) and 976-605
(Retail/Land) to such transactions.
 2.      Conveyances
of oil and gas mineral rights.  Entities should apply the mineral
property conveyance and related transactions guidance in Subtopic 932-360 (Oil
and Gas-Property, Plant, and Equipment) to such transactions.
 
 If a
decrease in ownership occurs in a subsidiary that is not a business or nonprofit
activity, an entity first needs to consider whether the substance of the
transaction causing the decrease in ownership is addressed in other U.S. GAAP,
such as transfers of financial assets, revenue recognition, exchanges of
nonmonetary assets, sales of in substance real estate, or conveyances of oil and
gas mineral rights, and apply that guidance as applicable. If no other guidance
exists, an entity should apply the guidance in Subtopic 810-10.
 
 Management
does not believe that any other recently issued, but not yet effective
accounting pronouncements, if adopted, would have a material effect on the
accompanying consolidated financial statements.
 
 
 F-9
 
 
 3.                    
GOING CONCERN
 
 The
accompanying financial statements have been prepared on a going concern basis
which contemplates the realization of assets and satisfaction of liabilities in
the normal course of business. At March 31, 2010, the Company has a deficit
accumulated during the development stage of $192,364and had a net loss of
$177,864 and cash used in operations of $25,764 for the interim period ended
March 31, 2010, respectively.
 
 While the
Company is attempting to generate sufficient revenues, the Company’s cash
position may not be enough to support the Company’s daily
operations.  Management intends to raise additional funds by way of a
public or private offering.  Management believes that the actions
presently being taken to further implement its business plan and generate
sufficient revenues provide the opportunity for the Company to continue as a
going concern.  While the Company believes in the viability of its
strategy to increase revenues and in its ability to raise additional funds,
there can be no assurances to that effect.  The ability of the Company
to continue as a going concern is dependent upon the Company’s ability to
further implement its business plan and generate sufficient
revenues.
 
 The
financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.
 
 4.                    
STOCKHOLDERS’ EQUITY
 
 Common
stock includes 50,000,000 shares authorized at a par value of $0.001, of which
100,000 have been issued to its Chief Executive
Officer at theirpar value of $0.001 per share or $100 for compensation
at inception on September 19, 2003.
 
 On
January 5, 2010, the Company authorized the issuance of 3,310,000 shares of its
common stock for compensation at $0.05 per share for a total of
$165,500.
 
 On
February 16, 2010, the Company sold 1,230,000 shares of its common stock at
$0.05 per share to 69 individuals for a total of $61,500.
 5.                   
 RELATED PARTY
TRANSACTIONS
 
 During
the three months ended March 31, 2010, a stockholder of the Company paid
professional fees on behalf of the Company aggregating $12,650. Such payment has
been shown as a contribution to capital and included in additional paid-in
capital.
 
 The
Company is provided the office space by an officer of the Company
without cost. The management determined that such cost is nominal and did
not recognize rent expense in its financial statements.
 
 7.                
    SUBSEQUENT EVENTS
 
 Management
has evaluated all events that occurred after the balance sheet date of March 31,
2010 through May 20, 2010, the date when these financial statements were issued
to determine if they must be reported. The Management of the Company has
determined that there were no reportable subsequent events to be
disclosed.








F-10





ITEM
2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS





The
information contained in Item 2 contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Actual results may
materially differ from those projected in the forward-looking statements as a
result of certain risks and uncertainties set forth in this report. Although
management believes that the assumptions made and expectations reflected in the
forward-looking statements are reasonable, there is no assurance that the
underlying assumptions will, in fact, prove to be correct or that actual
results will not be different from expectations expressed in this
report.





Plan of
Operation





ACE
Consulting Management, Inc. (“the Company”), a development stage company, was
incorporated on September 19, 2003 under the laws of the State of
Delaware.  Initial operations have included organization and
incorporation, target market identification, new product development, marketing
plans, and capital formation.  A substantial portion of the Company’s
activities has involved developing a business plan and establishing contacts and
visibility in the marketplace.  The Company has not generated any
revenues since inception.  The Company plans to engage in consulting
to corporations to improve growth strategies, performance enhancement and
maximization of shareholder value.





Limited
Operating History





We have
generated no independent financial history and have not previously demonstrated
that we will be able to expand our business. Our business is subject to risks
inherent in growing an enterprise, including limited capital resources and
possible rejection of our business model and/or sales methods.





Results of
Operation





For the
three months ended March 31, 2010, we had no
revenue.  Expenses for the period ended March 31,
2010 totaled $177,864 resulting in a net loss of $177,864. For the period
ended March 31, 2009 totaled $500. Expenses for the period ended March 31,
2010 consisted of $10,600 in professional fees, $165,500 for stock compensation
and $1,764 for general and administrative expenses.





Liquidity and Capital
Resources





At March
31, 2010 the Company had $48,386 in cash and will rely upon the issuance of
common stock and additional capital contributions from shareholders to fund
administrative expenses planned business strategy





As
reflected in the accompanying condensed financial statements, the Company is in
the development stage with minimal operations, has net cash used in operations
from inception of $(25,764) and has a net loss since inception of
$(192,364).  This raises substantial doubt about its ability to
continue as a going concern.  The ability of the Company to continue
as a going concern is dependent on the Company’s ability to raise additional
capital and implement its business plan.  The financial statements do
not include any adjustments that might be necessary if the Company is unable to
continue as a going concern.





Management
believes that actions presently being taken to obtain additional funding and
implement its strategic plans provide the opportunity for the Company to
continue as a going concern.






1





Item
3. Quantitative and Qualitative Disclosures About Market Risk





Not
required for Smaller Reporting Companies.





Item 4T.  Controls and
Procedures





a)
  Evaluation of
Disclosure Controls. Pursuant to Rule 13a-15(b) under the Securities
Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation,
with the participation of the Company’s management, including the Company’s
Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) (the
Company’s principal financial and accounting officer), of the effectiveness of
the Company’s disclosure controls and procedures (as defined under Rule
13a-15(e) under the Exchange Act) as of the end of the period covered by this
report. Based upon that evaluation, the Company’s CEO and CFO concluded that the
Company’s disclosure controls and procedures are effective to ensure that
information required to be disclosed by the Company in the reports that the
Company files or submits under the Exchange Act, is recorded, processed,
summarized and reported, within the time periods specified in the SEC’s rules
and forms, and that such information is accumulated and communicated to the
Company’s management, including the Company’s CEO and CFO, as appropriate, to
allow timely decisions regarding required disclosure.





(b)
  Changes in
internal control over financial reporting. There have been no changes in
our internal control over financial reporting that occurred during the last
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.







2




PART
II - OTHER INFORMATION





Item
1. Legal Proceedings.





We are
currently not involved in any litigation that we believe could have a material
adverse effect on our financial condition or results of operations. There is no
action, suit, proceeding, inquiry or investigation before or by any court,
public board, government agency, self-regulatory organization or body pending
or, to the knowledge of the executive officers of our company or any of our
subsidiaries, threatened against or affecting our company, our common stock, any
of our subsidiaries or of our companies or our subsidiaries’ officers or
directors in their capacities as such, in which an adverse decision could have a
material adverse effect.





Item
1A. Risk Factors.





None.





Item
2. Unregistered Sales of Equity Securities and Use of Proceeds





None.





Item
3. Defaults Upon Senior Securities.





None.





Item
4. (Removed and Reserved)





None.





Item
5. Other Information.





None





Item
6. Exhibits





(a)         Exhibits





31.1 Certifications pursuant to Section 302 of Sarbanes Oxley Act of
2002





32.1 Certifications pursuant to Section 906 of Sarbanes Oxley Act of
2002








3







SIGNATURES





Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.





ACE
      CONSULTING MANAGEMENT, INC.Date:
      May 19, 2010
            By:
            /s/
      Alex JenChief
      Executive OfficerChief
      Financial Officer











4