UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                    FORM 10-Q

             Quarterly Report Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934


                        For Quarter Ended: JUNE 30, 2009


                         Commission File Number: 0-19944


                             GREEN ST. ENERGY, INC.
             (Exact name of registrant as specified in its charter)

           DELAWARE                                            36-3809819
           --------                                            ----------
   (State or Jurisdiction of                              (IRS Employer ID No)
Incorporation or Organization)

                   123 GREEN ST., TEHACHAPI, CALIFORNIA 93561
               (Address of principal executive office) (zip code)


                                 (310) 556-9688
                           (Issuer's telephone number)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter periods as the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No .

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 ( Section
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 [_]
No [_].


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

 Large accelerated filer [   ] Accelerated filer [   ]
 Non-accelerated filer   [   ] 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 [_] No [X].

The number of shares outstanding of registrant's common stock, par value $0.005
per share, as of August 1, 2009, was 7,174,157 shares.

<PAGE>


                      GREEN ST. ENERGY, INC. AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)

                                      INDEX

                                                                            Page
                                                                             NO.

Part I            Financial Information

      Item 1:     Condensed Consolidated Financial Statements (Unaudited)

                  Balance Sheets as of June 30, 2009 (Unaudited) and
                  December 31, 2008                                            3
                  Statements of Operations  (Unaudited) -
                  For the Three Months Ended June 30, 2009 and 2008            4
                  Statements  of  Operations  (Unaudited) -
                  For the Six Months Ended June 30, 2009 and 2008              5
                  Statements of Stockholders'  Equity  (Unaudited) -
                  For the Six Months Ended June 30, 2009                       6
                  Statements  of Cash Flows  (Unaudited)  -
                  For the Six Months Ended June 30, 2009 and 2008              7
                  Notes to Financial Statements (Unaudited)                    9
      Item 2:     Management's Discussion and Analysis of
                  Financial Condition and Results of Operations               17
      Item 3:     Quantitative and Qualitative Disclosure about
                  Market Risk                                                 18
      Item 4:     Controls and Procedures                                     18

Part II           Other Information

      Item 6:     Exhibits                                                    19


<PAGE>



PART I  FINANCIAL INFORMATION

<TABLE>
<CAPTION>

GREEN ST. ENERGY, INC. and Subsidiary
(A Development Stage Company)
Condensed Consolidated Balance Sheets
June 30, 2009 (Unaudited) and December 31, 2008


                                                                            2009             2008
                                                                        ------------    ------------
                                Assets
Current assets:
<S>                                                                     <C>             <C>
  Cash and cash equivalents                                             $       --      $    456,000
  Prepaid expenses                                                            18,000          25,300
                                                                        ------------    ------------
     Total current assets                                                     18,000         481,300
Land                                                                         250,000            --
Land option                                                               16,250,462            --
Deferred financing costs                                                     139,174            --
                                                                        ------------    ------------
          Total assets                                                  $ 16,657,636    $    481,300
                                                                        ============    ============

                 Liabilities and Stockholders' Equity
Current liabilities:
  Accounts payable                                                      $    485,820    $    284,144
  Accrued expenses                                                           531,057          98,886
  Advance from shareholder                                                    20,320            --
  Cash overdraft                                                                 159            --
  Note payable                                                               300,000            --
                                                                        ------------    ------------
     Total current liabilities                                             1,337,356         383,030
Convertible debenture                                                     12,737,824            --
                                                                        ------------    ------------
     Total liabilities                                                    14,075,180         383,030
                                                                        ------------    ------------
Commitments and contingencies

Stockholders' equity:
  Preferred stock, $100 par value:
     Series A authorized 30,000 shares; issued and outstanding 12,500
          shares at June 30, 2009 and December 31, 2008, respectively        656,800         656,800
     Series B authorized 70,000 shares; issued and outstanding 69,648
          shares at June 30, 2009 and December 31, 2008, respectively      6,842,797       6,842,797
  Common stock: $0.005 par value; authorized 200,000,000
    shares; 7,608,111 and 2,247,104 shares issued and
    7,174,157 and 1,813,150 shares outstanding
    at June 30, 2009 and December 31, 2008, respectively                      38,041          11,236
  Additional paid-in capital                                              18,434,550      14,514,556
  Accumulated deficit                                                    (19,641,949)    (19,641,949)
  Deficit accumulated during the development stage                        (1,462,613)           --
  Treasury stock, at cost, 433,954 shares in 2009 and 2008                (2,285,170)     (2,285,170)
                                                                        ------------    ------------
     Total stockholders' equity                                            2,582,456          98,270
                                                                        ------------    ------------
          Total liabilities and stockholders' equity                    $ 16,657,636    $    481,300
                                                                        ============    ============

See accompanying notes to condensed consolidated financial statements.
</TABLE>


                                      -3-
<PAGE>

<TABLE>
<CAPTION>

GREEN ST. ENERGY, INC. and Subsidiary
(A Development Stage Company)
Condensed Consolidated Statements of Operations
Three Months Ended June 30, 2009 and 2008
(Unaudited)


                                                              2009          2008
                                                          -----------    -----------
Costs and expenses
<S>                                                       <C>            <C>
  General and administrative expense                      $   457,091    $      --
  Stock option and warrant expense                             14,599           --
                                                          -----------    -----------
     Total costs and expenses                                 471,690           --
                                                          -----------    -----------
          Net loss from operations                           (471,690)          --
                                                          -----------    -----------
Other income (expense):
     Interest expense                                        (297,663)          --
                                                          -----------    -----------
          Other income (expense)                             (297,663)          --
                                                          -----------    -----------
Net loss before income taxes from continunig operations      (769,353)          --
     Provision for income taxes                                  --             --
                                                          -----------    -----------
          Net loss from continuing operations                (769,353)          --
     Loss from discontinued operations                           --         (200,871)
                                                          -----------    -----------
          Net loss                                           (769,353)      (200,871)
     Preferred dividends                                         --         (264,082)
                                                          -----------    -----------
          Net loss attributable to common shareholders    $  (769,353)   $  (464,953)
                                                          ===========    ===========
Net loss per share, basic and diluted
  Continuing operations                                   $     (0.11)   $      --
  Discontinued operations                                        --            (0.26)
                                                          -----------    -----------
                                                          $     (0.11)   $     (0.26)
                                                          ===========    ===========
Weighted average shares outstanding,
  basic and diluted                                         6,813,150      1,813,150
                                                          ===========    ===========

See accompanying notes to condensed consolidated financial statements.
</TABLE>


                                      -4-
<PAGE>

<TABLE>
<CAPTION>

GREEN ST. ENERGY, INC. and Subsidiary
(A Development Stage Company)
Condensed Consolidated Statements of Operations
Six Months Ended June 30, 2009 and 2008 and from inception (January 1, 2009)
of Development Stage to June 30, 2009
(Unaudited)
                                                                                          Development
                                                                                             Stage
                                                                                           Inception
                                                                                          (January 1,
                                                                                          2009) until
                                                                                            June 30,
                                                               2009           2008            2009
                                                          ------------    ------------    ------------
Costs and expenses
<S>                                                       <C>             <C>             <C>
  General and administrative expense                      $    733,311    $       --      $    733,311
  Stock option and warrant expense                              89,238            --            89,238
                                                          ------------    ------------    ------------
     Total costs and expenses                                  822,549            --           822,549
                                                          ------------    ------------    ------------
          Net loss from operations                            (822,549)           --          (822,549)
                                                          ------------    ------------    ------------
Other income (expense):
     Interest expense                                         (640,064)           --          (640,064)
                                                          ------------    ------------    ------------
          Other income (expense)                              (640,064)           --          (640,064)
                                                          ------------    ------------    ------------
Net loss before income taxes from continunig operations     (1,462,613)                   - (1,462,613
     Provision for income taxes                                   --              --              --
                                                          ------------    ------------    ------------
          Net loss from continuing operations               (1,462,613)           --        (1,462,613)
     Loss from discontinued operations                            --          (321,752)           --
                                                          ------------    ------------    ------------
          Net loss                                          (1,462,613)       (321,752)     (1,462,613)
     Preferred dividends                                          --          (528,165)           --
                                                          ------------    ------------    ------------
          Net loss attributable to common shareholders    $ (1,462,613)   $   (849,917)   $ (1,462,613)
                                                          ============    ============    ============
Net loss per share, basic and diluted
  Continuing operations                                   $      (0.27)   $       --      $      (0.27)
  Discontinued operations                                         --             (0.47)           --
                                                          ------------    ------------    ------------
                                                          $      (0.27)   $      (0.47)   $      (0.27)
                                                          ============    ============    ============
Weighted average shares outstanding,
  basic and diluted                                          5,382,211       1,813,150       5,382,211
                                                          ============    ============    ============

See accompanying notes to condensed consolidated financial statements.
</TABLE>


                                      -5-
<PAGE>

<TABLE>
<CAPTION>

GREEN ST. ENERGY, INC. and Subsidiary
(A Development Stage Company)
Condensed Consolidated Statements of Stockholders' Equity
Six Months ended June 30, 2009
(Unaudited)
                                                                                              Deficit
                                                                                            Accumulated
                                                             Additional                      During the
                           Preferred Stock        Common      Paid-in      Accumulated      Development     Treasury
                        Series A    Series B      Stock       Capital         Deficit           Stage         Stock        Total
                       -------------------------------------------------------------------------------------------------------------
Balance,
<S>                   <C>         <C>          <C>          <C>           <C>            <C>            <C>            <C>
 December 31, 2008     $ 656,800   $6,842,797   $  11,236    $14,514,556   $(19,641,949)  $      --      $(2,285,170)   $    98,270
Common stock issued to
 acquire land               --           --         5,000        245,000           --            --             --          250,000
Common stock issued
 in exchange for
 convertible debenture      --           --        20,000      2,186,800           --            --             --        2,206,800
Beneficial conversion       --
 feature of convertible
 debenture                  --           --          --        1,400,761           --            --             --        1,400,761
Share correction            --          1,805      (1,805)          --             --            --             --
Common stock options
  and warrants              --           --          --           89,238           --            --             --           89,238
Net loss                    --           --          --             --             --      (1,462,613)          --       (1,462,613)
                       ---------   ----------   ---------    -----------   ------------   -----------    -----------    -----------
Balance,
 June 30, 2009         $ 656,800   $6,842,797   $  38,041    $18,434,550   $(19,641,949)  $(1,462,613)   $(2,285,170)   $ 2,582,456
                       =========   ==========   =========    ===========   ============   ===========    ===========    ===========


See accompanying notes to consolidated financial statements.

</TABLE>


                                      -6-
<PAGE>

<TABLE>
<CAPTION>

GREEN ST. ENERGY, INC. and Subsidiary
(A Development Stage Company)
Condensed Consolidated Statements of Cash Flow
Six Months ended June 30, 2009 and 2008 and from inception
(January 1, 2009)
(Unaudited)                                                                                 Development
                                                                                              Stage
                                                                                            Inception
                                                                                           (January 1,
                                                                                           2009) until
                                                                                              June 30,
                                                                2009             2008          2009
                                                             -----------    -----------    -----------
Cash flows from operating activities

<S>                                                          <C>            <C>            <C>
Net loss                                                     $(1,462,613)   $  (321,752)   $(1,462,613)
  Less loss from discontinued operations                            --         (321,752)          --
                                                             -----------    -----------    -----------
     Loss from continuing operations                          (1,462,613)          --       (1,462,613)
     Adjustment to reconcile net loss to net cash used
         in operating activities:
       Interest accretion of beneficial conversion feature       345,385           --          345,385
       Non-cash common stock options and
          warrants expense                                        89,238           --           89,238
       Amortization of deferred financing cost                    21,883           --           21,883
       Change in other assets and liabilities:
         Prepaid expenses                                          7,300           --            7,300
         Deferred financing costs                               (161,057)      (161,057)
         Accounts payable                                        201,676           --          201,676
         Accrued expenses                                        432,171           --          432,171
          Advances from shareholder                               20,320           --           20,320
                                                             -----------    -----------    -----------
            Net cash used in continuing operations              (505,697)          --         (505,697)
               Net cash used in discontinued operations             --         (866,276)          --
                                                             -----------    -----------    -----------
            Net cash used in operating activities               (505,697)      (866,276)      (505,697)
                                                             -----------    -----------    -----------
Cash flows from investing activities
  Investment in land option                                     (250,462)          --         (250,462)
                                                             -----------    -----------    -----------
            Net cash provided by investing activities           (250,462)          --         (250,462)
                                                             -----------    -----------    -----------

Cash flows from financing activities
  Loan proceeds                                                  300,000           --          300,000
  Cash overdraft                                                     159           --              159
                                                             -----------    -----------    -----------
            Net cash provided by financing activities            300,159           --          300,159
                                                             -----------    -----------    -----------

Net decrease in cash and cash equivalents                       (456,000)      (866,276)      (456,000)
Cash and cash equivalents, beginning of period                   456,000      1,081,019        456,000
                                                             -----------    -----------    -----------
Cash and cash equivalents, end of period                     $      --      $   214,743    $      --
                                                             ===========    ===========    ===========

                                                                                                  (Continued)
See accompanying notes to condensed consolidated financial statements.
</TABLE>


                                      -7-
<PAGE>

<TABLE>
<CAPTION>

GREEN ST. ENERGY, INC. and Subsidiary
(A Development Stage Company)
Condensed Consolidated Statements of Cash Flows, Continued
Six Months Ended June 30, 2009 and 2008 and from inception (January 1, 2009)
  of Development Stage to June 30, 2009
(Unaudited)
                                                                             Development
                                                                                Stage
                                                                              Inception
                                                                             (January 1,
                                                                             2009) until
                                                                              June 30,
                                                       2009          2008        2009
                                                    ---------     ----------  -----------

<S>     <C>    <C>    <C>    <C>    <C>    <C>
Supplemental cash flow information
Cash paid for interest and income taxes:
  Interest                                          $      --     $      --     $      --
  Income taxes                                             --            --            --

Noncash investing and financing activities:
  Accrued divedends on preferred stock                     --         528,165          --
  Land acquired for common stock                        250,000          --         250,000
  Land option acquired for convertible debenture     16,000,000          --      16,000,000
  Convertible debenture converted to common stock     2,206,800          --       2,206,800

See accompanying notes to condensed consolidated financial statements.
</TABLE>


                                      -8-
<PAGE>

                      GREEN ST. ENERGY, INC. AND SUBSIDIARY
                         NOTES TO CONDENSED CONSOLIDATED
                              FINANCIAL STATEMENTS
                                   (UNAUDITED)


NOTE 1:      GENERAL ORGANIZATION AND BUSINESS

The condensed consolidated financial statements include the accounts of Green
St. Energy, Inc. (formerly M-Wave, Inc.) ("Green St." or the "Company"), a
Delaware corporation formed on January 31, 1992 and its wholly owned subsidiary
Ocean Merger Sub. Green St. changed its name from M-Wave, Inc. on January 16,
2009.

Until December 30, 2008, the Company provided supply chain services and sourced
printed circuit boards, custom electronic components, extrusions assemblies and
non-electronic products from Southeast Asia. The parts and components sourced
were utilized in a wide range of commercial and industrial electronics, and
other consumer products. On December 30, 2008, the Company sold substantially
all of its assets and became a public shell on that date. On January 13, 2009,
the Company changed its name to Green St. Energy, Inc. with the intent to enter
into the alternative energy business.

The Company became a development stage enterprise within the meaning of
Statement of Financial Accounting Standards ("FAS") No. 7, "Accounting and
Reporting by Development Stage Enterprises" on December 30, 2008. Accordingly,
the costs associated with the development stage activities discussed below, have
an inception date of January 1, 2009. Prior costs relating to the supply chain
service business discussed above have been transferred to accumulated deficit.


UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS BASIS OF PRESENTATION

The condensed consolidated financial statements included in this report have
been prepared by the Company pursuant to the rules and regulations of the
Securities and Exchange Commission for interim reporting and include all
adjustments (consisting only of normal recurring adjustments) that are, in the
opinion of management, necessary to make the financial statements not
misleading.

Certain information and footnote disclosures normally included in financial
statements prepared in accordance with accounting principles generally accepted
in the United States have been condensed or omitted pursuant to such rules and
regulations for interim reporting. The Company believes that the disclosures
contained herein are adequate to make the information presented not misleading.
However, these condensed consolidated financial statements should be read in
conjunction with the consolidated financial statements and notes thereto
included in the Company's Annual Report for the year ended December 31, 2008,
which is included in the Company's Form 10-K for the year ended December 31,
2008. The financial data for the interim periods presented may not necessarily
reflect the results to be anticipated for the complete year.

                                      -9-
<PAGE>


In preparing the accompanying unaudited condensed consolidated financial
statements, the Company has reviewed, as determined necessary by the Company's
management, events that have occurred after June 30, 2009 up until the issuance
of the financial statements, which occurred on August 19, 2009.

Certain reclassifications of the amounts presented for the comparative period
have been made to conform to the current presentation.

                                  GOING CONCERN

As discussed above, the Company is in process of entering the alternative energy
segment, focusing primarily on wind energy. In this regard, the Company has
obtained land, has had prepared a feasibility study and has commenced raising
funds and completing its business plan. The Company will require substantial
funding to meet its goal of developing a wind energy farm. It is the Company's
intention to raise capital through private placement of its common stock and
through debt financing to meet the capital requirements of its business plan.
The Company has no current revenues and expects it will require a substantial
amount of time to develop its infrastructure and begin selling energy.

These conditions raise substantial doubt about the Company's ability to continue
as a going concern. The consolidated financial statements do not include any
adjustments that may result from the outcome of these uncertainties.


NOTE 2:     SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in conformity with
generally accepted accounting principles in the United States of America
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period. Actual results could differ
from those estimates.

PRINCIPLES OF CONSOLIDATION - The consolidated financial statements include the
accounts of Green St. and its wholly owned subsidiary, Ocean Merger Sub.
Significant intercompany transactions and account balances have been eliminated.
This subsidiary has no activity.

CASH AND CASH EQUIVALENTS - Cash and cash equivalents comprise cash in banks and
highly liquid investments that are both readily convertible to known amounts of
cash or purchased with maturity of three months or less.

                                      -10-
<PAGE>


FAIR VALUE OF FINANCIAL INSTRUMENTS - The Company has issued preferred stock and
convertible debt with embedded conversion features and warrants to purchase
common stock in connection with debt and equity raises. The Company has followed
the accounting guidance of FAS's No. 133 and 150, EITF's 98-5, 00-27, 00-19, and
08-4 ASR 268, EITF Abstract Topic D-98 and related interpretations to determine
whether these financial instruments should be accounted for as a liability or
equity. If the Company determines that a financial instrument is to be recorded
as a liability, the Company accounts for that liability at fair value. The
liability is marked to market each reporting period with the resulting gains or
losses shown on the consolidated statements of operations as a decrease or
increase to interest expense. At June 30, 2009 and December 31, 2008, all of
these financial instruments are classified as equity.

The Company adopted FAS No. 157, "Fair Value Measurements", effective January 1,
2008. FAS No. 157 defines fair value, establishes a framework for measuring fair
value and expands the disclosure requirements regarding fair value measurements.
FAS No. 157 is effective for fiscal years beginning after November 15, 2007 for
financial assets and liabilities as well as for non-financial assets and
liabilities that are recognized or disclosed at fair value on a recurring basis
in the financial statements. In accordance with FSP No. 157-2, Effective Date of
FASB Statement No. 157 (FSP 157-2), for all other non-financial assets and
liabilities, FAS No. 157 is effective for fiscal years beginning after November
15, 2008. In October 2008, the Financial Accounting Standards Board ("FASB")
issued FSP No. 157-3, Determining the Fair Value of a Financial Asset When the
Market for That Asset is Not Active (FSP 157-3), that clarifies the application
of FAS No. 157 for financial assets in a market that is not active and provides
an example to illustrate key considerations in determining the fair value of a
financial asset when the market for that financial asset is not active.

On January 1, 2009, in accordance with FSP 157-2, we adopted the provisions of
FAS No. 157 on a prospective basis for our non-financial assets and liabilities
that are not recognized or disclosed at fair value on a recurring basis. FAS No.
157 requires that we determine the fair value of financial and non-financial
assets and liabilities using the fair value hierarchy established in FAS No. 157
and describes three levels of inputs that may be used to measure fair value, as
follows:

Level 1 inputs which include quoted prices in active markets for identical
assets or liabilities;

                                      -11-
<PAGE>


Level 2 inputs which include observable inputs other than Level 1 inputs, such
as quoted prices for similar assets or liabilities; quoted prices for identical
or similar assets or liabilities in markets that are not active; or other inputs
that are observable or can be corroborated by observable market data for
substantially the full term of the asset or liability; and

Level 3 inputs which include unobservable inputs that are supported by little or
no market activity and that are significant to the fair value of the underlying
asset or liability. Level 3 assets and liabilities include those whose fair
value measurements are determined using pricing models, discounted cash flow
methodologies or similar valuation techniques, as well as significant management
judgment or estimation.

The adoption of FAS No. 157 for our non-financial assets and liabilities that
are not recognized or disclosed at fair value on a recurring basis had no effect
on our consolidated net income for the three and six months ended June 30, 2009.

The Company's financial instruments include cash and cash equivalents, prepaid
expenses, accounts payable and accrued liabilities. The fair values of all
financial instruments are not materially different from their carrying values.

SHARE-BASED PAYMENT - The Company follows the provisions of FAS No. 123(R) which
requires it to recognize compensation expense for equity awards over the
requisite service period based on their grant date fair values. Compensation
expense is recognized using a straight-line method only for share-based payments
expected to vest. We estimate forfeitures at the date of grant based on our
historical experience and future expectations. Estimated forfeitures are
expected to be minor and not material to the financial statements.

EARNINGS PER SHARE - Potentially dilutive common shares consist of the
incremental common shares issuable upon conversion of convertible preferred
shares, convertible debt and the exercise of common stock options and warrants
for all periods. When dilutive, dividends on preferred shares are added back to
the numerator of net loss when calculating earnings per share. For all periods
ended June 30, 2009 and 2008, the basic and diluted shares reported are equal
because the common share equivalents are anti-dilutive due to the net losses for
each period.

                                      -12-
<PAGE>


INCOME TAXES - FAS No. 109, "Accounting for Income Taxes" (FAS 109), 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
determined based on the differences between the financial statement and tax
basis 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 also
provided for carry forwards for income tax purposes. In addition, the amount of
any future tax benefit is reduced by a valuation allowance to the extent such
benefits are not expected to be realized.

The Company follows the provisions of FIN 48. FIN 48 clarifies the accounting
for income taxes by prescribing the minimum recognition threshold a tax position
is required to meet before being recognized in the financial statements. FIN 48
also provides guidance on de-recognition, measurement, classification, interest
and penalties, accounting in interim periods, disclosure and transition. The
interpretation applies to all tax positions related to income taxes subject to
FAS 109. The Company has not recorded a reserve for any tax positions for which
the ultimate deductibility is highly certain but for which there is uncertainty
about the timing of such deductibility.

The Company files tax returns in all appropriate jurisdictions, which formerly
included a federal tax return and an Illinois state tax return. Commencing on
January 1, 2009, the Company no longer has operations in Illinois and will no
longer be required to file an Illinois state tax return. Open tax years for both
jurisdictions are 2005 to 2008, which statutes expire in 2009 to 2011,
respectively. When and if applicable, potential interest and penalty costs are
accrued as incurred with expenses recognized in selling, general and
administrative expenses in the statements of operations. As of June 30, 2009,
the Company has no liability for unrecognized tax benefits.

NEW ACCOUNTING PRONOUNCEMENTS - There are several new accounting pronouncements
issued by the FASB which are not yet effective. Each of these pronouncements, as
applicable, has been or will be adopted by the Company. Management does not
believe any of these accounting pronouncements has had or will have a material
impact on the Company's financial position or operating results. The
pronouncements issued during the current quarter follow.

On April 9, 2009, the FASB issued Staff Position SFAS 107-1 and Accounting
Principles Board ("APB") Opinion No. 28-1, "Interim Disclosures about Fair Value
of Financial Instruments," to require disclosures about fair value of financial
instruments in interim financial statements as well as in annual financial
statements. APB 28-1 amends APB Opinion No. 28, "Interim Financial Reporting,"
to require those disclosures in all interim financial statements. FSP 107-1 and
APB 28-1 are effective for interim periods ending after June 15, 2009 and the
Company has adopted them in the second quarter of 2009.

                                      -13-
<PAGE>


On April 9, 2009, the FASB issued Staff Position SFAS 157-4, "Determining Fair
Value When the Volume and Level of Activity for the Asset or Liability Have
Significantly Decreased and Identifying Transactions That Are Not Orderly" ("FSP
157-4"). FSP 157-4 provides additional guidance in estimating fair value under
FAS 157, when the volume and level of transaction activity for an asset or
liability have significantly decreased in relation to normal market activity for
the asset or liability. FSP 157-4 also provides additional guidance on
circumstances that may indicate a transaction is not orderly. FSP 157-4 is
effective for interim periods ending after June 15, 2009. FSP 157-4 did not have
a significant impact on the Company's consolidated balance sheet, statement of
operations, cash flows, or disclosures for the second quarter of 2009.

On April 9, 2009, the FASB issued Staff Position SFAS 115-2 and SFAS 124-2
"Recognition and Presentation of Other Than-Temporary Impairments" ("FSP
115-2"). FSP 115-2 provides guidance in determining whether impairments in debt
securities are other than temporary, and modifies the presentation and
disclosures surrounding such instruments. FSP 115-2 is effective for interim
periods ending after June 15, 2009, and the Company has adopted its provisions
for second quarter 2009. FSP 115-2 did not have a significant impact on the
Company's consolidated balance sheet, statement of operations, cash flows, or
disclosures for the second quarter of 2009.

In May 2009, the FASB issued Statement No. 165, "Subsequent Events" ("SFAS
165"). SFAS 165 modifies the definition of what qualifies as a subsequent event
- those events or transactions that occur following the balance sheet date, but
before the financial statements are issued, or are available to be issued - and
requires companies to disclose the date through which it has evaluated
subsequent events and the basis for determining that date. The Company adopted
the provisions of SFAS 165 for the second quarter of 2009, in accordance with
the effective date. See Note 1.

In June 2009, the FASB issued Statement No. 167, "Amendments to FASB
Interpretation No. 46(R)" ("SFAS 167"). Among other items SFAS 167 responds to
concerns about the application of certain key provisions of FIN 46(R), including
those regarding the transparency of the involvement with variable interest
entities. SFAS 167 is effective for calendar year companies beginning on January
1, 2010. The Company has not yet determined the impact that adoption of SFAS 167
will have on its consolidated balance sheet, statement of operations, cash
flows, or disclosures.

                                      -14-
<PAGE>


In June 2009, the FASB issued SFAS No. 168, The FASB Accounting Standards
Codification and the Hierarchy of Generally Accepted Accounting Principles--a
replacement of FASB Statement No. 162 . This standard establishes only two
levels of U.S. generally accepted accounting principles ("GAAP"), authoritative
and non-authoritative. The FASB Accounting Standards Codification (the
"Codification") will become the source of authoritative, nongovernmental GAAP,
except for rules and interpretive releases of the SEC, which are sources of
authoritative GAAP for SEC registrants. All other non-grandfathered, non-SEC
accounting literature not included in the Codification will become
non-authoritative. This standard is effective for financial statements for
interim or annual reporting periods ending after September 15, 2009. The Company
will begin to use the new guidelines and numbering system prescribed by the
Codification when referring to GAAP beginning in the period ended September 30,
2009. As the Codification was not intended to change or alter existing GAAP, it
is not otherwise expected to have any impact on the Company's consolidated
balance sheet, statement of operations, cash flows, or disclosures.

In June 2009, the Securities and Exchange Commission released of Staff
Accounting Bulletin (SAB) No. 112. This staff accounting bulletin amends or
rescinds portions of the interpretive guidance included in the Staff Accounting
Bulletin Series in order to make the relevant interpretive guidance consistent
with current authoritative accounting and auditing guidance and Securities and
Exchange Commission rules and regulations. Specifically, the staff is updating
the Series in order to bring existing guidance into conformity with recent
pronouncements by the Financial Accounting Standards Board, namely, Statement of
Financial Accounting Standards No. 141 (revised 2007), Business Combinations,
and Statement of Financial Accounting Standards No. 160, Non-controlling
Interests in Consolidated Financial Statements. The Company has not yet
determined the impact that adoption of SAB 112 will have on its consolidated
balance sheet, statement of operations, cash flows, or disclosures, if any.

                                      -15-
<PAGE>



NOTE 3:     DISCONTINUED OPERATIONS

On December 30, 2008, the shareholders of the Company approved the sale of
substantially all of its assets to M-Wave International, L.L.C., an Illinois
limited liability company controlled by Joseph A. Turek, the Company's former
Chief Executive Officer and Robert Duke, the Company's former President,
pursuant to the terms set forth in the Asset Purchase Agreement dated September
9, 2008 (the "Asset Purchase Agreement"). As consideration for the acquisition,
the Company received net cash proceeds of $455,000 at closing, less cash
retained by the purchaser of $216,919. The Company recognized a loss on the sale
of these assets of $604,915. Upon completion of the sale of the Company's
assets, it effectively became a public shell as of December 30, 2008. Results
for the three and six months ended June 30, 2008, which are included in
discontinued operations, are as follows:

                                                 Three Months       Six Months
                                                     Ended             Ended
                                                 June 30, 2008     June 30, 2008
                                                 -------------     -------------
Net sales                                         $ 3,044,065       $ 6,075,769
Cost of goods sold                                  2,384,291         4,584,083
                                                  -----------       -----------
  Gross profit                                        659,774         1,491,686
Operating expenses                                    860,645         1,813,438
                                                  -----------       -----------
  Loss from discontinued operations               $  (200,871)      $  (321,752)
                                                  ===========       ===========


NOTE 4:     LAND

On January 14, 2009, the Company entered into a Real Estate Purchase Contract
with The Nacelle Corporation for the purchase of one hundred and sixty (160)
acres of unimproved property near Tehachapi, California (the "Purchase
Contract"). The terms of the Purchase Contract provide for a cash equivalent
purchase price of $250,000 in the form of one million restricted shares of the
Company's common stock, par value $0.005 based upon the closing price of $0.25
for the Company's common stock on January 12, 2009. The shares were subsequently
issued on February 12, 2009.

                                      -16-
<PAGE>



NOTE 5:     LAND OPTION AND CONVERTIBLE DEBENTURE

On February 12, 2009, the Company entered into an Exclusive Option to Purchase
Unimproved Land with The Nacelle Corporation (the "Agreement"). Pursuant to the
terms of the Agreement, the Company obtained a three year option to purchase
4,840 acres of unimproved property near Tehachapi, California (the "Property").
In consideration for the option to purchase the Property, the Company issued a
three year $16 million convertible debenture with interest at 5% per annum (the
"Debenture"). The Debenture is convertible into shares of the Company's common
stock six months following its issuance at the fixed conversion price of $0.5517
(subject to customary adjustment for stock splits or other capital changes)
subject to the limitation that the holder may not acquire in excess of 19.99% of
the Company's outstanding common stock at any given time without prior
shareholder approval. In addition to the Debenture the Company agreed to pay the
land owner or its assignees the sum of approximately $260,000. In the event the
Company exercises the option to acquire the Property and the appraised fair
market value of the Property as of February 12, 2009 is less than the face value
of the Debenture and cash consideration tendered under the Agreement, then the
value of the Debenture will be adjusted to reflect the value of the Property as
of February 12, 2009 less the cash consideration paid by the Company in
connection with the Agreement.

In the event the Company does not exercise the option, The Nacelle Corporation
would retain the Debenture and any cash proceeds. Should the Company exercise
the option the cash consideration and Debenture would be applied toward the
purchase price of the Property. Pursuant to the approval of the Board of
Directors, the Holder converted $2,206,800 of the Debenture into 4 million
shares of the Company's common stock on February 23, 2009.

Upon issuance of the Debenture, the Company recorded a discount from beneficial
conversion feature of $1,400,761 that is being amortized over the term of the
debenture using the straight-line method which, is not materially different from
the effective interest method promulgated by applicable accounting
pronouncements. At June 30, 2009, the convertible debenture consisted of the
following:

Original face amount                                               $ 16,000,000
Amount converted                                                     (2,206,800)
                                                                   ------------
  Current face amount                                                13,793,200
Intrinsic value of beneficial conversion feature                     (1,400,761)
Interest accretion                                                      345,385
                                                                   ------------
     Convertible debenture                                         $ 12,737,824
                                                                   ============

Accrued interest                                                   $    266,462
                                                                   ============

NOTE 6:          NOTE PAYABLE

The Company borrowed $300,000 from an individual which is due May 1, 2010 and
includes interest at the rate of 10% per annum. The note is secured by a Deed of
Trust for the land.


NOTE 8:          COMMITMENTS AND CONTINGENCIES

None.


NOTE 9:          RELATED PARTY TRANSACTION

The Chief Executive Officer of the Company advanced the Company $20,320 during
the three months ended June 30, 2009 for working capital.

                                      -17-
<PAGE>



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

This information statement contains forward-looking statements. For this
purpose, any statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. These statements relate to
future events or our future financial performance. In some cases, you can
identify forward-looking statements by terminology such as "may", "will",
"should", "expects", "plans", "anticipates", "believes", "estimates",
"predicts", "potential", "continue" or the negative of such terms or other
comparable terminology. These statements are only predictions. Actual events or
results may differ materially. There are a number of factors that could cause
our actual results to differ materially from those indicated by such
forward-looking statements.

Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements. Moreover, we do not assume responsibility
for the accuracy and completeness of such forward-looking statements. We are
under no duty to update any of the forward-looking statements after the date of
this information statement to conform such statements to actual results.
Management's discussion and analysis should be read in conjunction with our
financial statements and the notes herein.

GOING CONCERN

The Company is in process of entering the alternative energy segment, focusing
primarily on wind energy. In this regard, the Company has obtained land, has had
prepared a feasibility study and has commenced raising funds and completing its
business plan. The Company will require substantial funding to meet its goal of
developing a wind energy farm. It is the Company's intention to raise capital
through private placement of its common stock and through debt financing to meet
the capital requirements of its business plan. The Company has no current
revenues and expects it will require a substantial amount of time to develop its
infrastructure and begin selling energy.

These conditions raise substantial doubt about the Company's ability to continue
as a going concern. The financial statements do not include any adjustments that
may result from the outcome of these uncertainties.

                                      -18-
<PAGE>


RESULTS OF OPERATIONS

COMPARISON OF THE THREE AND SIX MONTHS ENDED JUNE 30, 2009 AND 2008

The Company is in the initial stages of acquiring unimproved property near
Tehachapi, California to be used for generating distribution and sale of wind
energy. The Company has acquired certain properties in exchange for its common
stock, cash and debt and intends to make private placements of its common stock
to raise capital to be used in implementing its business plan.

In 2008, the Company was operating in a different business which was
discontinued at the end of 2008.

OUR PLAN OF OPERATION FOR THE NEXT TWELVE MONTHS

We plan to raise capital and acquire properties to be used to implement our
business plan of developing a generating distribution and sale of wind energy
business. Due to the longer term nature of this business plan, we do not expect
to receive revenues during the next 12 months.



ITEM 3:  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

None.

ITEM 4:           CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

The Company's Chief Executive Officer has reviewed and evaluated the
effectiveness of the Company's disclosure controls and procedures (as defined in
Rules 240.13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act
of 1934) as of June 30, 2009. Based on that review and evaluation, which
included inquiries made to certain other employees of the Company, the CEO
concluded that the Company's current disclosure controls and procedures, as
designed and implemented, are not effective in ensuring that information
relating to the Company required to be disclosed in the reports the Company
files or submits under the Securities Exchange Act of 1934 is recorded,

                                      -19-
<PAGE>

processed, summarized and reported within the time periods specified in the
Securities and Exchange Commission's rules and forms, including insuring that
such information is accumulated and communicated to the Company's management,
including the CEO, as appropriate, to allow timely decisions regarding required
disclosure. As a result of a change in business, the Company was delayed in
completing the necessary information to make a timely filing for its report as
of March 31, 2009. The Company has initiated steps to insure it complies with
the SEC requirements and expects to be more timely filing starting with the
second quarter of 2009.

(b)  Changes in Internal Controls

During the quarter ended June 30, 2009, the Company hired one consultant to
maintain its financial records and a second consultant to assist in making
required SEC filings. The Company's former CFO left the Company during the first
quarter and has not yet been replaced. The hiring of the consultants is expected
to minimize any significant deficiencies or material weaknesses in internal
controls



                                      -20-
<PAGE>



PART II: OTHER INFORMATION

ITEM 6:  EXHIBITS

The following exhibits are filed with this report on Form 10-Q.

      Exhibit 31        Certifications pursuant to 18 U.S.C. Section 1350
                        Section 302 of the Sarbanes-Oxley Act of 2002

      Exhibit 32        Certifications pursuant to 18 U.S.C. Section 1350
                        Section 906 of the Sarbanes-Oxley Act of 2002








                                      -21-
<PAGE>



                                    SIGNATURE

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

                                       GREEN ST. ENERGY, INC.


Date:    August 19, 2009               By:      /S/ ANTHONY CATALDO
                                                -----------------------------
                                                Chief Executive Officer and
                                                Interim Financial Officer














                                      -22-