UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________



|  |                                                                                        
|- | ---------------------------------------------------------------------------------------
|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  ______.



AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

(Exact name of registrant as specified in Charter)



|                                                               |  |                       |  |                                  
|-------------------------------------------------------------- |  | --------------------- |  | ---------------------------------
|Nevada                                                         |  | 333-144228            |  | 20-5548974                       
|(State or other jurisdiction of
incorporation or organization) |  | (Commission File No.) |  | (IRS Employee Identification No.)



136-20 38the Ave. Unit 3G

Flushing, NY 11354

(Address of Principal Executive Offices)

_______________



718-395-8706 
(Issuer Telephone number)

_______________





Check whether the issuer (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).  YesQ             No  ̈

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

|                                     |                            
|------------------------------------ | ---------------------------
|Large accelerated filer             ̈ | Accelerated filer  ̈        
|Non-accelerated filer              ̈  | Smaller reporting company Q



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



State the number of shares outstanding of each of the issuer’s classes of common equity, as of May 15, 2010: 31,100,770 shares of common stock.







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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

FORM 10-Q

March 31, 2010

INDEX



PART I-- FINANCIAL INFORMATION



|        |                                                            
|------- | -----------------------------------------------------------
|Item 1. | Financial Statements                                       
|Item 2. | Managements Discussion and Analysis of Financial Condition
|Item 3. | Quantitative and Qualitative Disclosures About Market Risk 
|Item 4. | Control and Procedures                                     



PART II-- OTHER INFORMATION



|        |                                                             | 
|------- | ----------------------------------------------------------- | 
|Item 1  | Legal Proceedings                                           | 
|Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 
|Item 3. | Defaults Upon Senior Securities                             | 
|Item 4. | (Removed and Reserved)                                      | 
|Item 5. | Other Information                                           | 
|Item 6. | Exhibits                                                    | 



SIGNATURES











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Item 1.  Financial Information.





AMERICAN JIANYE GREENTECH HOLDINGS, LTD.





|                                                                                                               | 
|-------------------------------------------------------------------------------------------------------------- | 
|FINANCIAL STATEMENTS                                                                                           | 
|                                                                                                               | 
|Condensed Consolidated Balance Sheets as of March 31, 2010 (Unaudited) and December 31, 2009                   | 
|                                                                                                               | 
|Condensed Consolidated Statements of Operations for the three months ended March 31, 2010 and 2009 (Unaudited) | 
|                                                                                                               | 
|Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2010 and 2009 (Unaudited)  | 
|                                                                                                               | 
|Notes to the Financial Statements (Unaudited)                                                                  | 











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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS



|                                                     |      |             |      |              |  |  |  |  | 
|---------------------------------------------------- | ---- | ----------- | ---- | ------------ |  |  |  |  | 
|                                                     |      | March 31,   |      | December 31, | 
|                                                     | 2010 |             | 2009 |             
|Assets                                               |      | (Unaudited) |      |              | 
|Current Assets                                       |      |             |      |              | 
|Cash and cash equivalents                            |      | 6,003       |      | 80,366       | 
|Accounts receivable, net                             |      | 19,314,365  |      | 9,698,078    | 
|Other current assets                                 |      | 134,071     |      | 75,059       | 
|                                                     |      | 19,454,439  |      | 9,853,503    | 
|                                                     |      |             |      |             
|Property and Equipment                               |      | 294,171     |      | 841          | 
|                                                     |      |             |      |              | 
|Deposits                                             |      | 146,700     |      | 146,700      | 
|                                                     |      |             |      |              | 
|Total Assets                                         |      | 19,895,310  |      | 10,001,044   | 
|                                                     |      |             |      |              | 
|                                                     |      |             |      |             
|Liabilities and Stockholders' Equity                 |      |             |      |              | 
|Current Liabilities                                  |      |             |      |              | 
|Accounts payable                                     |      | 13,886,145  |      | 6,089,600    | 
|Accounts payable- related parties                    |      | 2,643,108   |      | 2,304,098    | 
|Accrued expenses                                     |      | 69,228      |      | 32,693       | 
|Income tax payable                                   |      | 670,330     |      | 314,511      | 
|Due to related parties                               |      | 565,656     |      | 266,582      | 
|Total liabilities                                    |      | 17,834,467  |      | 9,007,484    | 
|                                                     |      |             |      |              | 
|Stockholders' Equity                                 |      |             |      |              | 
|Common stock, $0.001 par value, 394,500,000 shares   |      |             |      |              | 
|authorized, 31,100,770 shares issued and outstanding |      |             |      |              | 
|as of March 31, 2010 and December 31, 2009           |      | 31,101      |      | 31,101       | 
|Preferred stock, $0.001 par value, 5,500,000 shares  |      |             |      |              | 
|authorized, 0 shares issued and outstanding          |      | -           |      | -            | 
|Additional paid-in capital                           |      | 18,899      |      | 18,899       | 
|Other comprehensive income                           |      | 581         |      | 218          | 
|Retained earnings                                    |      | 2,010,262   |      | 943,342      | 
|Total stockholders' equity                           |      | 2,060,843   |      | 993,560      | 
|                                                     |      |             |      |              | 
|Total Liabilities and Stockholders' Equity           |      | 19,895,310  |      | 10,001,044   | 





The Accompanying Notes are an integral part of the Financial Statements.









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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)



|                                        |  |                          |           |                            |                            |                            |                | 
|--------------------------------------- |  | ------------------------ | --------- | -------------------------- | -------------------------- | -------------------------- | -------------- | 
|                                        |  |                          |           |                            | For the Three Months Ended |                           
|                                        |  |                          |           |                            | March 31, 2010             |                            | March 31, 2009 | 
|                                        |  |                          |           |                            |                            |                            |                | 
|Sales                                   |  |                          |           | $          9,654,458       |                            | $                        - |               
|                                        |  |                          |           |                            |                            |                            |                | 
|Cost of sales                           |  | 8,132,783                |           | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Gross profit                            |  |                          | 1,521,675 |                            | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Operating expenses:                     |  |                          |           |                            |                           
|Selling, general and administrative     |  | 99,090                   |           | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Income from operations                  |  | 1,422,585                |           | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Provision for income taxes              |  | 355,665                  |           | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Net Income                              |  |                          | 1,066,920 |                            | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Other comprehensive income              |  |                          |           |                            |                           
|Foreign currency translation adjustment |  | 363                      |           | -                          |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Comprehensive income                    |  | $          1,067,283     |           | $                        - |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Net Income Per Share-                   |  |                          |           |                            |                           
|Basic and Diluted                       |  | $                   0.03 |           | $                        - |                           
|                                        |  |                          |           |                            |                            |                            |                | 
|Weighted Average Shares Outstanding:    |  |                          |           |                            |                           
|Basic and Diluted                       |  | 31,100,770               |           | 28,000,000                 |                           
|                                        |  |                          |           |                            |                            |                            |                | 



The Accompanying Notes are an integral part of the Financial Statements.









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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)



|                                                            |    |                      |   |                      |                            |  |                | 
|----------------------------------------------------------- | -- | -------------------- | - | -------------------- | -------------------------- |  | -------------- | 
|                                                            |    |                      |   |                      | For the Three Months Ended | 
|                                                            |    |                      |   |                      | March 31, 2010             |  | March 31, 2009 | 
|Cash flows from operating activities                        |    |                      |   |                      |                           
|Net income                                                  |    | $     1,066,920      |   | $                  - |                           
|Adjustments to reconcile net income to net cash             |    |                      |   |                      |                           
|used in operating activities:                               |    |                      |   |                      |                           
|Depreciation expense                                        |    | 70                   |   |                      |                           
|Changes in assets and liabilities:                          |    |                      |   |                      |                           
|Increase in accounts receivable                             |    | (9,613,010)          |   |                      |                           
|Increase in other current assets                            |    | (58,993)             |   |                      |                           
|Increase in deposits                                        |    | -                    |   |                      |                           
|Increase in accounts payable                                |    | 8,132,783            |   |                      |                           
|Increase in accrued expenses                                |    | 36,538               |   |                      |                           
|Decrease in other current liabilities                       |    | (16)                 |   |                      |                           
|Increase in income tax payable                              |    | 355,698              |   |                      |                           
|Net cash used in operating activities                       |    | (80,010)             |   | -                    |                           
|                                                            |    |                      |   |                      |                            |  |                | 
|Cash flows from investing activities                        |    |                      |   |                      |                           
|Increase in construction in process                         |    | (293,400)            |   |                      |                           
|Net cash used in investing activities                       |    | (293,400)            |   | -                    |                           
|                                                            |    |                      |   |                      |                            |  |                | 
|Cash flows from financing activities                        |    |                      |   |                      |                           
|Advances from related parties                               |    | 298,972              |   |                      |                           
|Net cash provided by financing activities                   |    | 298,972              |   | -                    |                           
|                                                            |    |                      |   |                      |                            |  |                | 
|Effect of exchange rate changes on cash and cash equivalent | 75 |                      | - |                     
|                                                            |    |                      |   |                      |                            |  |                | 
|Net decrease in cash and cash equivalents                   |    | (74,363)             |   | -                    |                           
|                                                            |    |                      |   |                      |                            |  |                | 
|Cash and cash equivalents                                   |    |                      |   |                      |                           
|Beginning                                                   |    | 80,366               |   | -                    |                           
|Ending                                                      |    | $           6,003    |   | $                  - |                           
|                                                            |    |                      |   |                      |                            |  |                | 
|Supplemental disclosure of cash flows                       |    |                      |   |                      |                           
|Cash paid during the period for:                            |    |                      |   |                      |                           
|Interest expense                                            |    | $                  - |   | $                  - |                           
|Income tax                                                  |    | $                  - |   | $                  - |                           



The Accompanying Notes are an integral part of the Financial Statements.









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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2010





NOTE 1-  NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES



Basis of Presentation



The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Companys Annual Report on Form 10-K for the year ended December 31, 2009.



Nature of operations



American Jianye Greentech Holdings, Ltd., (formerly Gateway Certifications, Inc.), (the Company or American Jianye) was originally incorporated on August 30, 2006, in the State of Nevada.



On November 13, 2009, the Company entered into and completed the transactions contemplated under a Share Exchange Agreement (the Exchange Agreement) with each of the shareholders (the Shareholders) of Jianye Greentech Holdings, Ltd., a British Virgin Islands corporation (Jianye), pursuant to which the Company purchased from the Shareholders all issued and outstanding shares of Jianye common stock in consideration for the issuance of an aggregate of 3,548,796 shares of the Company common stock (the "Share Exchange") (the Merger).



The Share Exchange resulted in a change in control of the Company with the Shareholders owning 3,548,796 shares of common stock of the Company out of a total of 3,941,796 issued and outstanding shares after giving effect to the Share Exchange. As a result of the Exchange Agreement, (i) Jianye became a wholly-owned subsidiary of the Company and (ii) the Company succeeded to the business of Jianye as its sole business. Accordingly, the Company changed its name to American Jianye Greentech Holdings, Ltd. The Company also effectuated a forward-split of its common stock on a 7.89-for-1 basis. The Merger will be accounted for as a reverse merger to be reflected as a recapitalization with Jianye as the accounting acquirer.



Jianye Greentech Holdings Ltd (Jianye BVI) was incorporated on April 17, 2008 under the laws of British Virgin Islands. Jianye BVI is a holding company that owns 100% of Hong Kong Jianye Greentech Holdings Limited (Jianye Hong Kong), a corporation incorporated on May 2, 2008 under the laws of Hong Kong. Jianye BVI and Jianye Hong Kong currently have no operations and operate as investment holding companies.



On September 28, 2009, Jianye Hong Kong established Heilongjian New Jianye New Clean Fuel Marketing Ltd. (Jianye China), a wholly owned subsidiary in China, with registered capital of US$50,000. As a result, Jianye BVI owns 100% of the equity of Jianye China through Jianye Hong Kong. Jianye Chinas primary business is to distribute ethanol and methanol as alternative fuel for automobile use.



On November 2009, the Company changed its name to American Jianye Greentech Holdings, Ltd. to more accurately reflect the business it intends to enter subsequent to the merger with Gateway and will focus its efforts for growth in the area of ethanol and methanol fuel.









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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2010



Basis of Consolidation



The consolidated financial statements include the accounts of American Jianye Greentech Holdings, Ltd and its wholly owned subsidiaries.  All significant intercompany accounts and transactions are eliminated.



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 revenue and expenses during the reporting period. Actual results could differ from those estimates.



Cash and Cash Equivalents



Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.



Accounts Receivable



Accounts receivable are carried at original invoice amount less estimates made for doubtful receivables. Management determines the allowance for doubtful accounts at the end of the period based on a review of the current status of existing receivables, account aging, historical collection experience, subsequent collections, management's evaluation of the effect of existing economic conditions, and other known factors. The provision is provided for the above estimates made for all doubtful receivables. Account balances are charged off against the allowance only when the Company considers it is probable that a receivable will not be recovered. Recoveries of trade receivables previously written off are recorded when received. The allowance of doubtful accounts at March 31, 2010 and December 31, 2009 was $85,769 and $44,307, respectively.



Property and Equipment



Property and equipment are recorded at cost, less accumulated depreciation.  Depreciation is computed on the straight-line method over the estimated useful lives of the related assets as follows:





|                           |             
|-------------------------- | ------------
|Automobile                 | 5 years     
|Furniture and fixtures     | 3 years     
|Machinery and equipment    | 3 to 5 years
|Buildings and improvements | 20 years    





Expenditures for major renewals and betterment that extend the useful lives of property and equipment are capitalized.  Expenditures for repairs and maintenance are charged to expense as incurred.  When property and equipment are retired or otherwise disposed of, the asset and accumulated depreciation are removed from the accounts and the resulting profit or loss is reflected in the statement of income for the period.









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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2010



Concentrations



Customers: The Company distributes ethanol and methanol as alternative fuel for automobile use in China. The Company performs ongoing credit evaluations of its customers financial condition and generally, requires no collateral. For the three-month period ended March 31, 2010, one customers accounted for 100% of the Companys total revenues. Two customers represented 100% of accounts receivable in aggregate at March 31, 2010:



|         |  |                                                       |  |                                       |  |                |  |     
|-------- |  | ----------------------------------------------------- |  | ------------------------------------- |  | -------------- |  | ----
|Customer |  | Sales for the Three-Month Period Ended March 31, 2010 |  | Accounts Receivable at
March 31, 2010
|A        |  | $  9,654,458                                          |  | 100%                                  |  | $  15,356,167  |  | 79% 
|B        |  | $                0                                    |  | 0%                                    |  | $    4,043,967 |  | 21% 
|         |  | $  9,654,458                                          |  | 100%                                  |  | $  19,400,134  |  | 100%
|         |  |                                                       |  |                                       |  |                |  |     



Suppliers:For the three-month period ended March 31, 2010, one supplier accounted for more than 96% of the Companys total purchase. Four vendors represented 100% of accounts payable in aggregate at March 31, 2010. Management believes other vendors could supply similar products, but their terms may not be as favorable as currently being offered by this vendor. A change in suppliers, however, could cause a delay in availability of products and a possible loss of sales, which could adversely affect operating results.



Recent accounting pronouncements

In June 2009, the Financial Accounting Standards Board issued guidance, which contains amendments to Accounting Standards Codification 810, "Consolidation," relating to how a company determines when an entity that is insufficiently capitalized or is not controlled through voting (or similar rights) should be consolidated. The determination of whether a company is required to consolidate an entity is based on, among other things, an entity's purpose and design and a company's ability to direct the activities of the entity that most significantly impact the entity's economic performance. These provisions became effective for us on January 1, 2010, but did not have a material impact on our financial position or results of operations.

In October 2009, the FASB issued Accounting Standards Update (ASU) No. 2009-13, Multiple-Deliverable Revenue Arrangements, or ASU 2009-13, which amends existing revenue recognition accounting pronouncements that are currently within the scope of ASC 605. This guidance eliminates the requirement to establish the fair value of undelivered products and services and instead provides for separate revenue recognition based upon managements estimate of the selling price for an undelivered item when there is no other means to determine the fair value of that undelivered item. ASU 2009-13 is effective for the Company prospectively for revenue arrangements entered into or materially modified beginning January 1, 2011. The Company is currently evaluating the impact, if any, that the adoption of this amendment will have on its consolidated financial statements.

In January 2010, the FASB issued ASU No. 2010-06, Improving Disclosures about Fair Value Measurements , which, among other things, amends Accounting Standards Topic 820 Fair Value Measurements and Disclosures (ASC 820) to require entities to separately present purchases, sales, issuances, and settlements in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and which clarifies existing disclosure requirements provided by ASC 820 regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy. ASU No. 2010-06 is effective for interim and annual periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements which are effective for fiscal years beginning after December 15, 2010 and for interim periods within those fiscal years. The Companys adoption of this standard had no impact on its consolidated financial position, results of operations or cash flows.







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AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2010





NOTE 2-  PROPERTY AND EQUIPMENT



Property and equipment consisted of following:



|                               |  |                         |  |                          
|------------------------------ |  | ----------------------- |  | -------------------------
|                               |  | March 31, 2010          |  | December 31, 2009        
|                               |  | (Unaudited)             |  |                          
|                               |  |                         |  |                          
|Equipment                      |  | $                   841 |  | $                     841
|Construction in process        |  | 293,400                 |  | -                        
|                               |  | 294,241                 |  | 841                      
|Less: Accumulated depreciation |  | (70)                    |  | -                        
|                               |  | $            294,171    |  | $                     841



Depreciation expense was approximately $70 and $0 for the three months ended March 31, 2010 and 2009.





NOTE 3-  RELATED PARTY TRANSACTIONS



Purchase and account payable: For the three months ended March 31, 2010, approximately 4.2% of the Companys inventory is purchased from a related party, a company controlled by the father of the Companys CEO and major shareholder. Total purchase from this related party amounted to $338,423. Accounts payable due to this related party was $2,643,108 at March 31, 2010.



Advances from related party At March 31, 2010, the Company had advances from the above related party in the amount of $418,956. The advances from related party are non-interest bearing and without fixed terms of repayment.



Advances from shareholder At March 31, 2010, the Company had advances from the Companys major CEO and shareholder in the amount of $146,700. The advances from this shareholder are non-interest bearing and without fixed terms of repayment.









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Item 2.  Managements Discussion and Analysis of Financial Condition and Results of Operations.



Results of Operations



Jianye Greentech Holdings Ltd (Jianye BVI) was incorporated on April 17, 2008 under the laws of British Virgin Islands. Jianye BVI is a holding company that owns 100% of Hong Kong Jianye Greentech Holdings Limited (Jianye Hong Kong), a corporation incorporated on May 2, 2008 under the laws of Hong Kong. Jianye BVI and Jianye Hong Kong currently have no operations and operate as investment holding companies. On September 28, 2009, Jianye Hong Kong established Heilongjian New Jianye New Clean Fuel Marketing Ltd. (Jianye China), a wholly owned subsidiary in China, with registered capital of US$50,000. As a result, Jianye BVI owns 100% of the equity of Jianye China through Jianye Hong Kong. Jianye Chinas primary business is to distribute ethanol and methanol as alternative fuel for automobile use.



Heilongjian New Jianye Clean Fuel Marketing Ltd. (Jianye China) commenced operation in September 2009.Jianye Chinas primary business is to distribute ethanol and methanol as alternative fuel for automobile use.



For the three months ended March 31, 2010, we generated our revenue in the amount of $9,654,458 from the sales of methanol-based and ethanol based fuels to one customer.



Our gross profit margin during the three months ended March 31, 2010 was 15.8%. This figure represents our regular gross profit margin as a marketing company and distributor.



Selling, general and administrative expenses for the three months ended March 31, 2010 were $99,090 or 1% of net sales. Selling, general and administrative expenses consist primarily of payroll, storage cost and bad debt expense.



Income from operations for the three months ended March 31, 2010 was $1,422,585, and net income after income taxes for the same period was $1,066,920. During the same period, however, our operations reduced our cash position by $74,363, due to the fact that neither of our major customers has paid any part of the purchase price for the fuels they purchased. The primary factor enabling us to reach our current condition without incurring large expenses and to carry on operations with negative cash flow was the willingness of our shareholders to serve our company for minimal compensation and made loan to the company, and the fact that our creditors are tolerating an increase in our accounts payable.



Our business operates primarily in Chinese Renminbi (RMB), but we report our results in our SEC filings in U.S. Dollars.  The conversion of our accounts from RMB to Dollars results in translation adjustments.  While our net income is added to the retained earnings on our balance sheet; the translation adjustments are added to a line item on our balance sheet labeled accumulated other comprehensive income, since it is more reflective of changes in the relative values of U.S. and Chinese currencies than of the success of our business.  During the three months ended March 31, 2010, the effect of converting our financial results to Dollars was to add $363 to our accumulated other comprehensive income.



Liquidity and Capital Resources



Our operations to date have been funded primarily by capital contributions and short-term loans from our related party and our Chairman, Haipeng Wang.



Our working capital at March 31, 2010 totaled $1,619,972. Included in our working capital, however, was $19,314,365 in accounts receivable, almost all of which are owed by the two customers who were the source of 100% of our  revenue since the beginning of our operations. We are not certain when those receivables will be paid. We have, therefore, only a small amount of liquid assets.



Capital Expenditure



Total capital expenditures during the three months ended March 31, 2010 was $293,400 for the construction in process.











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Off-Balance Sheet Arrangements



We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.



Critical Accounting Policies and Estimates



This discussion and analysis of our financial condition and results of operations are based on our financial statements that have been prepared under accounting principle generally accepted in the United States of America. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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.



Cash and Cash Equivalents



Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.



Accounts Receivable



Accounts receivable are carried at original invoice amount less estimates made for doubtful receivables. Management determines the allowance for doubtful accounts at the end of the period based on a review of the current status of existing receivables, account aging, historical collection experience, subsequent collections, management's evaluation of the effect of existing economic conditions, and other known factors. The provision is provided for the above estimates made for all doubtful receivables. Account balances are charged off against the allowance only when the Company considers it is probable that a receivable will not be recovered. Recoveries of trade receivables previously written off are recorded when received.



Recent accounting pronouncements

In June 2009, the Financial Accounting Standards Board issued guidance, which contains amendments to Accounting Standards Codification 810, "Consolidation," relating to how a company determines when an entity that is insufficiently capitalized or is not controlled through voting (or similar rights) should be consolidated. The determination of whether a company is required to consolidate an entity is based on, among other things, an entity's purpose and design and a company's ability to direct the activities of the entity that most significantly impact the entity's economic performance. These provisions became effective for us on January 1, 2010, but did not have a material impact on our financial position or results of operations.

In October 2009, the FASB issued Accounting Standards Update (ASU) No. 2009-13, Multiple-Deliverable Revenue Arrangements, or ASU 2009-13, which amends existing revenue recognition accounting pronouncements that are currently within the scope of ASC 605. This guidance eliminates the requirement to establish the fair value of undelivered products and services and instead provides for separate revenue recognition based upon managements estimate of the selling price for an undelivered item when there is no other means to determine the fair value of that undelivered item. ASU 2009-13 is effective for the Company prospectively for revenue arrangements entered into or materially modified beginning January 1, 2011. The Company is currently evaluating the impact, if any, that the adoption of this amendment will have on its consolidated financial statements.















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In January 2010, the FASB issued ASU No. 2010-06, Improving Disclosures about Fair Value Measurements , which, among other things, amends Accounting Standards Topic 820 Fair Value Measurements and Disclosures (ASC 820) to require entities to separately present purchases, sales, issuances, and settlements in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and which clarifies existing disclosure requirements provided by ASC 820 regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy. ASU No. 2010-06 is effective for interim and annual periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements which are effective for fiscal years beginning after December 15, 2010 and for interim periods within those fiscal years. The Companys adoption of this standard had no impact on its consolidated financial position, results of operations or cash flows.



Item 3. Quantitative and Qualitative Disclosures About Market Risk.



The Company is subject to certain market risks, including changes in interest rates and currency exchange rates.  The Company does not undertake any specific actions to limit those exposures.



Item 4.Controls and Procedures.



Evaluation of disclosure controls and procedures.



The term disclosure controls and procedures (defined in SEC Rule 13a-15(e)) refers to the controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files under the Securities Exchange Act of 1934 (the Exchange Act) is recorded, processed, summarized and reported within required time periods. The Companys management, with the participation of the Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Companys disclosure controls and procedures as of the end of the period covered by this quarterly report (the Evaluation Date). Based on that evaluation, the Companys Chief Executive Officer and Chief Financial Officer concluded that, as of the Evaluation Date, such controls and procedures were effective.



Changes in internal controls.



The term internal control over financial reporting (defined in SEC Rule 13a-15(f)) refers to the process of a company that is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The Companys management, with the participation of the Chief Executive Officer and Chief Financial Officer, has evaluated any changes in the Companys internal control over financial reporting that occurred during the first quarter of the year covered by this quarterly report, and they have concluded that there was no change to the Companys internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting.



Management's Report on Internal Control over Financial Reporting.



Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934.  We have assessed the effectiveness of those internal controls as of March 31, 2010 using the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control - Integrated Framework as a basis for our assessment.



Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies and procedures may deteriorate.  All internal control systems, no matter how well designed, have inherent limitations.  Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.









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Management is currently reviewing its staffing and their training in order to remedy the weaknesses identified in this assessment.  To date, we are not aware of significant accounting problems resulting from these weaknesses; so we have to weigh the cost of improvement against the benefit of strengthened controls



This quarterly report does not include an attestation report of the Companys independent registered public accounting firm regarding internal control over financial reporting.  Managements report was not subject to attestation by the Companys independent registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only managements report in this quarterly report.





PART II  OTHER INFORMATION



Item 1. Legal Proceedings.



To the best knowledge of the officers and directors, the Company was not a party to any legal proceeding or litigation as of March 31, 2010.



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



None.





Item 3. Defaults Upon Senior Securities.



None.





Item 4. (Removed and Reserved)





Item 5. Other Information.



None.



Item 6. Exhibits.



|        |  |                                                                                                                                               
|------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit |  | Description of Exhibit                                                                                                                        
|31.1    |  | Chief Executive Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                 
|        |  |                                                                                                                                               
|31.2    |  | Chief Financial Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                  
|        |  |                                                                                                                                               
|32.1    |  | Chief Executive Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002
|        |  |                                                                                                                                               
|32.2    |  | Chief Financial Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002









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SIGNATURES



In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



|                                         |                
|---------------------------------------- | ---------------
|AMERICAN JIANYE GREENTECH HOLDINGS, LTD.
|                                        
|By:                                      | /s/Haipeng Wang
|Name: Haipeng Wang                      
|Title: President                        
|Date: May 17, 2010                      
|(Principal Executive Officer)           



|                               |              
|------------------------------ | -------------
|By:                            | /s/Yulin Yang
|Name:  Yulin Yang             
|Title: Chief Financial Officer
|Date: May 17, 2010            
|(Principal Accounting Officer)