UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-KT/A (AMENDMENT NO. 1) (Mark One)  .ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the Fiscal Year Ended _____________  X.TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT  For the transition period from September 30, 2009 to December 31, 2009  [blogger10kta123109002.gif] (Exact name of registrant as specified in its charter)  Nevada0-5363126-3126279(State or other jurisdiction(Commission File Number)(IRS Employerof Incorporation)Identification Number)800 West El Camino Real, Suite 180
Mountain View, CA 94040(Address of principal executive offices)(650) 943-2490(Registrants Telephone Number)  (Former name or former address, if changed since last report)  Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes . No X.  Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes . No X.  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 period that 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. .  The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant was NIL based upon the price ($0.00) at which the common stock was last sold as of the last business day of the most recently completed second fiscal quarter, multiplied by the approximate number of shares of common stock held by persons other than executive officers, directors and five percent stockholders of the registrant without conceding that any such person is an affiliate of the registrant for purposes of the federal securities laws. Our common stock is traded in the over-the-counter market and quoted on the Over-The-Counter Bulletin Board under the symbol BLGW.   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 definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.  Large accelerated filer.Accelerated filer.Non-accelerated filer. (Do not check if a smaller reporting company)Smaller reporting companyX.  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes . No X.  As of March 30, 2010, there were 119,700,000shares of the registrants $.001 par value common stock issued and outstanding.  Documents incorporated by reference: None  2    BLOGGERWAVE, INC.   Table of Contents


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|           | PART I                                                                                                       |     
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|Item 1     | Business                                                                                                     | 5   
|Item 1A    | Risk Factors                                                                                                 | 14  
|Item 1B    | Unresolved Staff Comments                                                                                    | 14  
|Item 2     | Properties                                                                                                   | 14  
|Item 3     | Legal Proceedings                                                                                            | 15  
|Item 4     | Submission of Matters to a Vote of Security Holders                                                          | 15  
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|           | PART II                                                                                                      |     
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|Item 5     | Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 15  
|Item 6     | Selected Financial Data                                                                                      | 16  
|Item 7     | Management's Discussion and Analysis of Financial Condition and Results of Operations                        | 16  
|Item 7A    | Quantitative and Qualitative Disclosures about Market Risk                                                   | 21  
|Item 8     | Financial Statements and Supplementary Data                                                                  | F-1 
|Item 9     | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                         | 22  
|Item 9A(T) | Controls and Procedures                                                                                      | 22  
|Item 9B    | Other Information                                                                                            | 23  
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|           | PART III                                                                                                     |     
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|Item 10    | Directors and Executive Officers and Corporate Governance                                                    | 23  
|Item 11    | Executive Compensation                                                                                       | 25  
|Item 12    | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters               | 26  
|Item 13    | Certain Relationships and Related Transactions                                                               | 27  
|Item 14    | Principal Accountant Fees and Services                                                                       | 27  
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|           | PART IV                                                                                                      |     
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|Item 15    | Exhibits                                                                                                     | 28  

3   NOTE REGARDING FORWARD LOOKING STATEMENTS CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995  This Annual Report contains historical information as well as forward-looking statements. Statements looking forward in time are included in this Annual Report pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to be materially different from any future performance suggested herein. We wish to caution readers that in addition to the important factors described elsewhere in this Form 10-K, the following forward looking statements, among others, sometimes have affected, and in the future could affect, our actual results and could cause our actual consolidated results during 2010 and beyond, to differ materially from those expressed in any forward-looking statements made by or on our behalf.  Use of Term  Except as otherwise indicated by the context, references in this report to the Company, BLGW, we, us and our are references to Bloggerwave, Inc. All references to USD or United States Dollars refer to the legal currency of the United States of America.    4   PART I  ITEM 1.  BUSINESS   Item 1.  Description of Business  We were incorporated in the State of Nevada on December 21, 2006 under the name Elevated Concepts, Inc. From inception through September 9, 2009, our business model was to export and sell green, eco-friendly, biodegradable, non-toxic household products and building materials used in housing construction and home renovation in the emerging markets of Russia, Ukraine and other Eastern European countries from North American manufacturers. We planned to start with sale and distribution of constructions and household materials which will be used in "green development" projects in the suburban areas of Moscow, Russia.  However, on September 9, 2009, we entered into an Agreement and Plan of Merger (the "Merger Agreement") with Bloggerwave APS, a company incorporated under the laws of Denmark (Bloggerwave). Per the terms of the Merger Agreement, the Company would survive the merger as the operating company. In accordance with the terms and provisions of the Merger Agreement, in exchange for all of the issued and outstanding shares of Bloggerwave APS, the Company: (i) issued an aggregate of 5,000,000 shares of its common stock to the shareholders of Bloggerwave (the Bloggerwave Shareholders) on the basis of 50,000 restricted shares of the Company for each one share held of record by the Bloggerwave Shareholder; and (ii) issued 3,000,000 shares of its common stock to the management of Bloggerwave (the Bloggerwave Management). As a result of the Merger Agreement, we changed our name to Bloggerwave Inc. by way of Certificate of Amendment to its Articles of Incorporation filed with the Nevada Secretary of State on November 19, 2009, which Amendment also increased our authorized shares from 75,000,000 to 200,000,000. Following the closing of the Merger Agreement, Bloggerwave Aps., a Danish corporation, is now a wholly operating owned subsidiary of the Company.  With respect to the filing of the Certificate of Amendment, we failed to comply with Section 14 of the Securities Exchange Act of 1934. Prior to amending our Articles of Incorporation, we were required to notify our stockholders and file an information statement on Schedule 14C with the SEC consistent with Regulation 14C. Although our Board of Directors and the majority of our shareholders approved the Merger Agreement and amendment to our Articles of Incorporation, such actions should not have been effectuated without the filing of an information statement on Schedule 14C.  Further, as a result of the Merger Agreement, our then-existing directors resigned and concurrently appointed Mr. Ulrik Svane Thomsen (Mr. Thomsen) and Mr. Jacob Lemmeke (Mr. Lemmeke) as members of the Company's Board of Directors. Pursuant to Rule 14f-1, since Mssrs. Thomsen and Lemmeke concurrently acquired shares of the Company's common stock, we were required to notify our stockholders and file an information statement on Schedule 14Fwith the SEC. The Company effected the change in its Board of Directors without complying with Rule 14f-1.  Overview  Bloggerwave helps its corporate clients harness the power of the Internet by leveraging the power and credibility of blogs to promote products and services.  Savvy consumers are increasingly distrustful of traditional modes of advertising, and are turning in ever-growing numbers to the Internet to seek unbiased opinions for product and service reviews. In this marketing environment where consumers increasingly turn to each other for advice and recommendations for new products, tapping into the millions of independent bloggers worldwide is the crucial next step for any company seeking to reach its desired market.  Bloggerwaves innovative business model connects corporate clients directly with thousands of pre-approved bloggers around the globe, giving the bloggers the opportunity to write about and review specific products or services and include a link to the companys website. Once a company is blogged about, it increases its Internet buzz, credibility, site hits, ranking on search engines and ultimately, its bottom line.  Bloggerwave also delivers something no other form of advertising can: credibility. Blogs are seen as independent, so readers defenses are down a blog review is not perceived as blatant advertising, but as an unbiased opinion from a trusted blogger with a loyal, regular following. A bloggers promotion of a company is the best credibility possible. Bloggerwave gives companies the key to gaining this credibility on the Internet.  Mission  Bloggerwave helps its corporate clients harness the power of the Internet by leveraging the power and credibility of blogs to promote products and services. We already have over 27,000 registered bloggers, and have served many big-name corporate clients. Bloggerwave intends to maintain its position mission in Europe, and expand into markets in Asia and the U.S.  5   History  Bloggerwave is a young, dynamic European company founded by two entrepreneurs in Humlebaek, Denmark.  The business rationale behind Bloggerwave was based on an emerging trend on the Internet: the meteoric rise and power of social media (blogs, online communities and networks such as MySpace and Facebook). Mssrs. Thomsen and Lemmeke saw these emerging forms of media as new, unchartered platforms for lucrative advertising opportunities. Not blatant or obtrusive advertising in the form of flashing or moving banner ads, but advertising via subtle promotion withinthe media themselves. They had the idea to incentive bloggers with wide readerships to review, try out, or promote certain products or services, writing about them on their blogs. In the Information Age where people are inundated and growing weary and distrustful of advertising, consumers are increasingly turning to their peers on the internet for honest product reviews or opinions. The Bloggerwave business model capitalizes on this paradigm shift in consumer focus, and targets the blogs (or consumer peers) directly for marketing opportunities.  Paying bloggers to write independently about a companys products or services is the ultimate publicity strategy. Blogs are seen as independent, so readers defenses are down a blog review is not perceived as blatant advertising, but as an unbiased opinion from a trusted blogger with a loyal, regular following. A bloggers promotion of a company is the best credibility possible. Bloggerwave gives companies the key to gaining this credibility on the Internet.  Getting bloggers to write about a company increases its search engine ranking (Search Engine Optimization) and Internet presence in general. It is the latest and most innovative approach to advertorial advertising in an environment where consumers spend more and more hours online and increasingly turn to the Internet for consumer guidance.  Model  Bloggerwave has developed an innovative yet straightforward business model that helps companies spread Internet buzz about their products, brands, and services. Marketers realize that blogs are gathering large, loyal and youthful followings. Bloggerwave is the key for companies wishing to access these markets.  [blogger10kta123109003.jpg]  6   Bloggerwave for Corporations  How it Works  1. Corporate clients sign an agreement with Bloggerwave  2. They log on to a secure system and post advertorial assignments for a pre-approved pool of thousands of registered bloggers worldwide  3. Registered bloggers review the assignments for various products and services, and select relevant products or services to write about on their blogs  4. Bloggerwave reviews blog postings to ensure they are in accordance with client guidelines, and approves appropriate postings  5. Blogs remain published on the World Wide Web and remain for at least 30 days, but in most cases, the postings are indefinite  6. All blogger postings are ranked by search engines and syndicated via RSS  7. Clients pay a fee per posting. Bloggerwave pays the bloggers  8. Clients are able to regularly review the progress of their blogging campaigns  [blogger10kta123109004.jpg]  Client assignments are shown on a virtual notice board for all registered bloggers to see. Guidelines state exactly what the company wants to achieve, including if certain photos, descriptions, and links are required. Furthermore, a personal Bloggerwave team assists clients in writing the core copy and choosing which type of blog is best suited for the job.  Bloggerwave approves all assignments. Once an assignment is approved and posted on the Internet, Bloggerwave debits the clients account. Bloggerwave pays the bloggers.  A dynamic tracking link will shows clients how their message is spreading across the internet. Every time they access their Bloggerwave account, they can view vital statistical information about how their message is spreading around the Internet.  7   [blogger10kta123109006.gif]  Bloggerwave for Bloggers:  More and more people have their own blog. Based on information available on www.alexa.com, there are close to 200,000 new blogs being created every day.  Bloggers are increasingly looking for ways to earn money blogging. Posting ads, affiliate links and paid postings are potential revenue streams for bloggers.  By registering with Bloggerwave, bloggers gain access to a plethora of paid posting opportunities. Bloggers review potential assignments and select those that are relevant for their blogs and their unique voice on the Internet. For example, a technology blogger would be more inclined to review and promote a new cell phone rather than a new cosmetic fragrance.  Once bloggers have written a post, Bloggerwave checks the links and assesses the work. The post is then either approved or rejected, and if it is approved, the blogger is paid for the post.  Bloggerwave has a diverse group of clients, from individuals to corporate clients.  The Market for Bloggerwave  Social Media Optimization  Bloggerwave is at the forefront of a developing industry: Social Media Optimization (SMO). Companies, always looking for new ways to reach their target markets, have realized that the best way to access the hearts and minds of their customers is by reaching out through social media (blogs, online communities, online social networks, etc.) Progressive companies in the know are now accessing their markets through viral marketing campaigns on YouTube, MySpace, Facebook, and Twitter. Commercial blogging is a logical extension of this.  Paying bloggers to write independently about a companys products or services is the ultimate publicity strategy. Blogs are seen as independent, so readers defenses are down a blog review is not perceived as blatant advertising, but as an unbiased opinion from a trusted blogger with a loyal, regular following. A bloggers promotion of a company is the best credibility possible. Bloggerwave gives companies the key to gaining this credibility on the Internet.  Social Media Optimization has become an integral part of Online Reputation Management or Search Engine Reputation Management strategies all organizations must now engage in if they care about their online presence and reputation.  8   Getting bloggers to write about a company increases its search engine ranking and Internet presence in general. It is the latest and most innovative way to market oneself, as consumers spend more and more hours online and increasingly turn to the Internet for consumer guidance.  Furthermore, smart businesses are leveraging Social Media Optimization for more than just marketing. Used strategically, SMO can help a company with product and service development, brand building, customer satisfaction and relations, business development and more. Bloggerwave enables companies to track how their message is spreading around the Internet, including consumer reactions. Bloggerwave offers clients the crucial component to any successful marketing campaign.  As Social Media Grows, so too does Social Media Optimization. Social Media Optimization influences brand awareness, reputation, improves search engine ranking, enhances traffic for desired website, generate leads, and improves internal communication and online sales very effectively.  [blogger10kta123109007.jpg]  Why Corporations are Increasingly Using SMO  1. Its where the consumers are  No matter how non-technical customers are - social media impacts their consumption decisions. Social medias impact on traditional media is increasing on a daily basis. Newspapers, television, and radio, are realizing that certain networks are sometimes even faster than the AP newswire. This impacts which news is presented in a traditional sense. The geeks, webmasters, the trendsetters, and other folks who are on the bleeding edge are now watching social media outlets and republishing to the channels that customers are consuming from.  2. SMO increases ROI  Social Media Optimization has resulted in positive ROI that is compelling the Companies to invest more in SMO. It has been observed that Companies with higher level of Social Media activity increased their sale considerably, while the least active ones saw a drop in sales. The Economic Intelligence Unit claims that 80% of companies out there believe that social media or has the potential to increase company revenue.  3. The competition is doing it  Some of the projected sites of Twitter reveal that Social Media Optimization has some 100 million and will increase to 350 million users by 2011, a whopping 25% increase in activity in just one year. Internet is a vast communication device, and marketers are taking notice: 25 million users are already using this media as marketing technique.  9   In a March 2009 Forrester Research survey of a sample of 203 US companies pursuing online marketing, 40% currently use SMO, 55% plan on using it within the next 12 months, and 65% plan on using it in more than 12 months from now. In a few years almost all companies will be optimizing Social Media, for companies who wish to remain ahead of the curve, the time to invest in SMO is now.  4. More Social = More Search More Search = More Customers More customers = More business  5. The web is more de-centralized than ever. After consumers do their initial searches through the Google, they start looking for communities of likeminded people. The best customers are the ones that are passionate and want to have a conversation about companies, their products, or something related. Companies need to be in these communities. Websites are irrelevant without traffic  Companies can have the most beautiful website in the world, but without traffic, it is useless.Social Media Optimization can drive already-engaged and curious customers to company websites.  SMO The Rising Numbers  Forrester Research says the bottom line is that social media and mobiles will be the hottest trend in online marketing.  SMO marketing is a relatively new field that is closely associated with SEO marketing (engaging in strategies that ensure a companys name turns up high on search engines). Businesses that engage in SEO are earning revenues in the $5 million USD range. SMO marketing is considered the next generation of SEO marketing. The following pages charts list the top performing SEO marketing companies in the US and the UK. As SMO is so new, no such equivalent market data yet exists.   Top 5 US SEO Companies: Best Search Engine Optimization Companies- November 2009 [blogger10kta123109008.jpg]  Source: www.invisiblepr.com  10   Top 5 SEO UK Companies: Best Search Engine Optimization Companies- November 2009 [blogger10kta123109009.jpg]  Source: www.invisiblepr.com  Competitive Analysis  Bloggerwave, although only three years old, has quickly established itself as a fierce competitor in this new evolving market, having reached the milestone of acquiring 50,000 bloggers in its international networks (refer to http://finance.yahoo.com/news/Bloggerwave-Hits-Milestone-of-iw-1700578356.html?x=0&.v=1), launching several advertising campaigns for clients around the globe (refer to http://finance.yahoo.com/news/Bloggerwave-Launches-First-iw-1069516802.html?x=0&.v=1), and acquiring some of the most recognizable brand names in consumer culture, such as Coca-Cola, Sony, and McDonalds (refer to http://www.bloggerwaveinc.com/pages/1095/clients). Furthermore, Bloggerwave believes that its rapid success and growth within the international market has made it a leader among the worlds top Sponsored Blog Post companies.  Below is a list of Bloggerwaves toughest International Competition, all of which are U.S.-based.  1.PayPerPost www.PayPerPost.com  2.ReviewMe  www.reviewme.com  3.SponsoredReviews www.sponsoredreviews.com  4.Blogsvertise www.blogvertise.com  5.Smorty  www.smorty.com  6.PayU2Blog www.payu2blog.com  Bloggerwaves Competitive Advantage  Bloggerwave sets itself apart from the competition in the following ways:  11   European Market Leader  As we are a U.S.-based Company and since our operations are based in Europe, we believe we are poised for growth, based on out international presence and direct advertising access to international markets.  Multilingual  Bloggerwave has English, Danish, Swedish, and German websites. Advertisers can reach all four linguistic markets with one advertising assignment.  Personalized Services  Each client is assigned a personal Bloggerwave team that assists them in writing their core advertising copy and provides input into which blogs are the best fit for the assignment. The team reviews all blog postings to ensure that they are in accordance with client guidelines, and then approves them on behalf of the client.  Unique Tracking Feature and Campaign Reports  Clients can regularly log on to Bloggerwave to view the progress of their blogging campaigns. Bloggerwave provides clients with a comprehensive report upon completion of the blogging campaign.  Advertising and Market Research in One  Clients can receive instant consumer feedback by following their blogging campaigns, as blog readers often post reader comments on blog product reviews.  Marketing Strategy  Mission: To attract and maintain more advertisers  Marketing objectives:  · Revenue growth · Increase advertisers by 40% each year · Repeat customers by 50% each quarter · Create and promote Bloggerwave brand recognition · Penetrate markets in US and Asia  Keys to success:  · Exceed client expectations, emphasize personalized service and support · Build and maintain personal relationships with Advertisers · Tailor-made campaigns and comprehensive, flexible services · Attract more first-time clients and provide them with enough value to convert them into repeat customers  Target markets:  Corporate Advertising.  Positioning:  We believe that Bloggerwave has already positioned itself as the premier corporate blogging company in Europe due to the Companys growth and rapid expansion. The companys intent is to maintain and bolster this status, as well as build its reputation in US and Asia.  Typical clients include large multinational firms that seek to bolster their public image on the Internet, educate consumers about their products, and drive sales.  Bloggerwaves unique selling point is its personalized and tailor-made campaigns for our advertisers.  12   Strategy:  Bloggerwave will use a combination of targeted advertising, networking, Internet Marketing and press coverage to generate visibility and communicate the message that it is the premier business of its kind, offering custom, personalized services to its corporate clients.  · Advertising will be done in industry-specific journals.  · Face-to face networking activities will be particularly effective by leveraging existing relationships and contacts.  · To continue attracting bloggers, Bloggerwave uses Google Ad words and blogging campaigns.  · Bloggerwave gained many of its initial clients through networking, referrals and cold calls; it will continue this practice.  · Bloggerwave regularly informs the media of its unique business model to generate press coverage and “buzz.”  · Internet marketing ― as an expert in the industry, Bloggerwave already engages in various Internet marketing strategies such as blogging campaigns and SEO.  · Strategic partnerships are fundamental in the world of Internet commerce. Bloggerwaves strategic alliances will help increase brand equity, reduce marketing expenses, and reduce the time-to-market.  Insurance  We do not maintain any insurance and do not intend to maintain insurance in the future. Because we do not have any insurance, if we are made a party to a liability action, we may not have sufficient funds to defend the litigation. If that occurs a judgment could be rendered against us that could cause us to cease operations.  Intellectual Property  We depend on our ability to develop and maintain the proprietary aspects of our technology to distinguish our products from our competitors products. To protect our proprietary technology, we rely primarily on a combination of confidentiality procedures. It is our policy to require employees and consultants to execute confidentiality agreements and invention assignment agreements upon the commencement of their relationship with us. These agreements provide that confidential information developed or made known during the course of a relationship with us must be kept confidential and not disclosed to third parties except in specific circumstances and for the assignment to us of intellectual property rights developed within the scope of the employment relationship.  Employees  As of March 30, 2010, we employed 2 full-time employees and no part-time employees. None of our employees are subject to a collective bargaining agreement and we believe that relations with our employees are very good. We also frequently use third party consultants to assist in the completion of various projects. Third parties are instrumental to keep the development of projects on time and on budget.  WHERE YOU CAN GET ADDITIONAL INFORMATION  We file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy our reports or other filings made with the SEC at the SECs Public Reference Room, located at 100 F Street, N.W., Washington, DC 20549. You can obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. You can also access these reports and other filings electronically on the SECs web site, www.sec.gov.  In addition, certain of our SEC filings, including our annual reports on Form 10-K, our quarterly reports on Form 10-Q and current reports on Form 8-K, and amendments to these reports, can be viewed and printed from the investor information section of our corporate website at www.bloggerwaveinc.com, as soon as reasonably practicable after filing with the SEC.  *The information on the websites listed above is not and should not be considered part of this Report and is not incorporated by reference in this document. These websites are, and are only intended to be, inactive textual references.  13   Government Regulation  Our operations are subject to various federal, state and local regulations which cover many issues such as user privacy, freedom of expression, pricing, content and quality of products and services, taxation, advertising, intellectual property rights and information security. One such federal law is Section 5 of the Federal Trade Commission Act (15 U.S.C. 45), which prohibits corporations from engaging in unfair methods of competition or deceptive acts or practices in or affecting commerce. The growth of electronic commerce may prompt calls for even more stringent consumer protection laws.  We are not certain how business may be affected by the application of existing laws governing issues such as property ownership, copyrights, encryption and other intellectual property issues, taxation, libel, obscenity and export or import matters. The vast majority of such laws were adopted prior to the advent of the Internet. As a result, they do not contemplate or address the unique issues of the Internet and related technologies. Changes in laws intended to address such issues could create uncertainty in the Internet market place. Such uncertainty could reduce demand for services or increase the cost of doing business as a result of litigation costs or increased service delivery costs. In addition, because our services are available over the Internet in multiple states and foreign countries, other jurisdictions may claim that we are required to qualify to do business in each such state or foreign country. We are qualified to do business only in Nevada. Our failure to qualify in a jurisdiction where it is required to do so could subject it to taxes and penalties. It could also hamper our ability to enforce contracts in such jurisdictions. The application of laws or regulations from jurisdictions whose laws currently apply to our business could have a material adverse affect on our business, results of operations and financial condition.  ITEM 1A. RISK FACTORS  We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item, however, the below risk factor is applicable to the Registrant.  We may be subject to discipline based on our failure to file an information statement as required by Section 14 of the Securities Exchange Act of 1934 with the SEC regarding the filing of an amendment to our Articles of Incorporation and the election of members to our Board of Directors.  Pursuant to Section 14 of the Securities Exchange Act of 1934, we are required to furnish a publicly-filed information statement to every stockholder in connection with any proposed corporate action requiring a stockholder vote. Further, Section 14 requires us to provide an information statement regarding a majority change to  our Board of Directors if the incoming directors are acquiring shares of our common stock.  We were required to notify our stockholders and file an information statement prior to amending our Articles of Incorporation. Although this action was approved by the holders of the majority of our outstanding shares of common stock, such action should not have been effectuated without the filing of the information statement.  Furthermore, we were required to notify our stockholders and file an information statement before approving additional members to our Board of Directors since the majority change in our Board of Directors involved the incoming directors acquiring shares of our common stock. A change in the majority of directors does not require stockholder approval; however, the information statement would have provided notice to the stockholders of the action taken by the Company as required by Section 14.  Because we failed to file information statements regarding the foregoing corporate actions, we may be subject to discipline by the SEC as a result of our failure to comply with Section 14 of the Securities Exchange Act of 1934.  ITEM 1B. UNRESOLVED STAFF COMMENTS  None.   ITEM 2. PROPERTIES  We do not own any real estate. Our principal executive office is located at 800 West El Camino Real, Suite 180, Mountain View, CA 94040. Our telephone number is (650) 943-2490. We also maintain a European office at Gammel Strandvej 22C, 2009 Niva, Denmark. The space we lease is utilized for offices purposes. It is our belief that the space is adequate for our immediate needs. Additional space may be required as we expand our operations. We do not foresee any significant difficulties in obtaining any required additional facilities.   14   ITEM 3. LEGAL PROCEEDINGS  We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.   ITEM 4.     PART II  ITEM 5. MARKET FOR THE COMPANYS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES  Market Information  Our common stock is currently quoted on the OTC Bulletin Board. Our common stock has been quoted on the OTC Bulletin Board since July 14, 2009 under the symbol ELVT.OB. On January 20, 2010, we began trading under our current symbol of BLGW.OB. Because we are quoted on the OTC Bulletin Board, our securities may be less liquid, receive less coverage by security analysts and news media, and generate lower prices than might otherwise be obtained if they were listed on a national securities exchange.  The following table sets forth the high and low bid quotations for our common stock as reported on the OTC Bulletin Board for the periods indicated.  2009HighLowThird QuarterNILNILFourth QuarterNILNIL  Record Holders  As of December 31, 2009, an aggregate of 17,100,000 shares of our common stock were issued and outstanding and were owned by approximately 15 holders of record, based on information provided by our transfer agent.  Recent Sales of Unregistered Securities  Other than those previously reported, none.  Re-Purchase of Equity Securities  None.  Dividends  We have not paid any cash dividends on our common stock since inception and presently anticipate that all earnings, if any, will be retained for development of our business and that no dividends on our common stock will be declared in the foreseeable future. Any future dividends will be subject to the discretion of our Board of Directors and will depend upon, among other things, future earnings, operating and financial condition, capital requirements, general business conditions and other pertinent facts. Therefore, there can be no assurance that any dividends on our common stock will be paid in the future.  Securities Authorized for Issuance Under Equity Compensation Plans  The Company has not authorized any securities for issuance under an Equity Compensation Plan.  Forward-Split  We implemented a forward split of the issued and outstanding common shares of the Company, whereby every one share of common stock held was exchanged for 7 shares of common stock. As a result, the issued and outstanding shares of common stock were increased from approximately 17,100,000 prior to the forward split to 119,700,000 following the forward split. The forward split was payable as a dividend to shareholders of record as of January 20, 2010.  15   ITEM 6. SELECTED FINANCIAL DATA  We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.  ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.  The following discussion should be read in conjunction with our audited financial statements and notes thereto included herein. In connection with, and because we desire to take advantage of, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, we caution readers regarding certain forward looking statements in the following discussion and elsewhere in this report and in any other statement made by, or on our behalf, whether or not in future filings with the Securities and Exchange Commission. Forward-looking statements are statements not based on historical information and which relate to future operations, strategies, financial results or other developments. Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or our behalf. We disclaim any obligation to update forward-looking statements.  Limited Operating History; Need for Additional Capital  Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.  To become profitable and competitive, we have to locate and negotiate agreements that result in revenue. We may have to seek out additional equity financing to provide for the capital required to continue to implement our operations. We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.  MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION  The Companys functional currency is the Danish Krone (DKK) however certain transactions are denominated in United States Dollars or other currencies. Our financial statements are translated to United States Dollars for reporting purposes. Our financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (GAAP).  We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.  We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.  RESULTS OF OPERATION  For the Fiscal Years Ended December 31, 2009, and December 31, 2008  Sales Revenue and Gross Profit  December 31,
2009
$December 31,
2008
$Sales Revenue120,719152,981Cost of Goods Sold24,23525,019Gross Profit96,484127,962Gross Profit Margin79.9%83.6%  During the year ended December 31, 2009, we generated sales revenue of $120,719 as compared to $152,981 during the year ended December 31, 2008. The decrease in sales revenue is attributed to the fact that the Company had a decrease in the number of clients from ____ clients in 2008 to ___ in 2009 which accounted for the overall decline. In 2009, we signed an Authorized Reseller Agreement (the Agreement) with Salomatkin and Partners, a company incorporated in Russia, for the non-exclusive right to resell our products in the Moscow region. This Agreement generated $_________ of revenues during the year ended December 31, 2009.  16   The overall gross profit margin decreased during fiscal 2009 as a result of increasing competition, as the cost of entry for blogging is quite low given the advance of technology and the use of internet as a medium for social networking and communication.  Operating Expenses and Net Comprehensive Loss  During the year ended December 31, 2009, we incurred general and administrative expenses of $253,713 as compared to $258,949 during the year ended December 31, 2008. Overall, the Companys overhead costs, comprised mainly of salary expense, rent expense, office supplies, utilities, and professional fees relating to accounting, audit, and legal services related to SEC filings, were consistent year-to-year as the nature of the Companys operations did not change significantly.  The net loss for the year ended December 31, 2009 was $163,498 as compared to $128,533 for the year ended December 31, 2008. The overall increase in net loss was due to a decrease in sales revenue and costs incurred with respect to the due diligence and finalization of the merger transaction on September 9, 2009.  LIQUIDITY AND CAPITAL RESOURCES  Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.  For Fiscal Years Ended December 31, 2009 and 2008  Assets, Liabilities, and Working Capital  As at December 31, 2009, the Company had total assets of $14,163 as compared to total assets of $13,747 as at December 31, 2008. Overall, the Companys cash balance was consistent to the prior year.  As of December 31, 2009, the Company had total liabilities of $180,391 as compared to total liabilities of $110,422 as at December 31, 2008. The increase in total liabilities was attributed to increases in financing from related parties of $69,977 that were used to support the ongoing working capital of the Company.  As at December 31, 2009, the Company had a working capital deficit of $168,483 as compared to $100,166 as at December 31, 2008. The increase in working capital deficit is attributed to the fact that the Company obtained financing from related parties and used the proceeds to pay down outstanding obligations and incur general expenditures.  Cashflows from Operating Activities  During the year ended December 31, 2009, the Company incurred $101,876 of cash for operating activities as compared to $16,109 during the year ended December 31, 2008. The increase in the use of cash for operating activities was attributed to the fact that proceeds received from financing activities were used to repay outstanding obligations of the Company.  Cashflows from Investing Activities  During the year ended December 31, 2009, the Company incurred no cash for investing activites compared to $1,905 during the year ended December 31, 2008 relating to the purchase of computer and office equipment.  Cashflows from Financing Activities  During the year ended December 31, 2009, the Company received $106,878 of cash from financing activities compared to $14,863 during the year ended December 31, 2008. The increase in cash proceeds from financing activities was attributed to an increase of $70,655 of proceeds from related parties.  PLAN OF OPERATION AND FUNDING  Existing working capital, cash flow from operations, further advances from the bank, as well as debt instruments or stock subscriptions are expected to be adequate to fund our operations over the next twelve months. Generally, we have financed operations to date through the proceeds of stock subscriptions, bank financing and related party loans.  17   In connection with our business plan, management anticipates that administrative expenses will increase over the next twelve months. Additional issuances of equity or convertible debt securities may be required which will result in dilution to our current shareholders. Furthermore, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business opportunities, which could significantly and materially restrict our business operations.  MATERIAL COMMITMENTS  We do not have any material commitments for the fiscal years ended December 31, 2009, and 2008.  Related Party Loan  The Company owed to the Directors and stockholders the following amounts on the indicated dates:  December 31, 2008$  6,255December 31, 2009$81,299  Such loans are unsecured, also, as of December 31, 2009, we had a loan from an individual who was a former Director and Officer of the Company for $12,000. The loan was provided for working capital purposes and carries an interest rate of 6% non-interest bearing, and have no terms for repayment. We anticipate that this amount will continue to increase over the next 12 months.  PURCHASE OF SIGNIFICANT EQUIPMENT  We do not intend to purchase any significant equipment during the next twelve months.  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, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.  GOING CONCERN  The independent auditors' report accompanying our December 31, 2009, and December 30, 2008, financial statements contains an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.  RECENT ACCOUNTING PRONOUNCEMENTS  In March 2008, the FASB issued FASB Statement No. 161, (FASB ASC 161 815) Disclosures about Derivative Instruments and Hedging Activities  an amendment of FASB Statement 133 (SFAS No. 161). SFAS No. 161 enhances required disclosures regarding derivatives and hedging activities, including enhanced disclosures regarding how: (a) an entity uses derivative instruments; (b) derivative instruments and related hedged items are accounted for under FASB No. 133, Accounting for Derivative Instruments and Hedging Activities; and (c) derivative instruments and related hedged items affect an entitys financial position, financial performance, and cash flows. Specifically, SFAS No. 161 requires:  · disclosure of the objectives for using derivative instruments be disclosed in terms of underlying risk and accounting designation; · disclosure of the fair values of derivative instruments and their gains and losses in a tabular format; · disclosure of information about credit-risk-related contingent features; and · cross-reference from the derivative footnote to other footnotes in which derivative-related information is disclosed.  SFAS No. 161 is effective for fiscal years and interim periods beginning after November 15, 2008. Earlier application is encouraged. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  18   On May 9, 2008, the FASB issued FASB Statement No. 162, (FASB ASC 162 105) The Hierarchy of Generally Accepted Accounting Principles (SFAS No. 162). SFAS No. 162 is intended to improve financial reporting by identifying a consistent framework, or hierarchy, for selecting accounting principles to be used in preparing financial statements that are presented in conformity with U.S. generally accepted accounting principles (GAAP) for nongovernmental entities.  Prior to the issuance of SFAS No. 162, GAAP hierarchy was defined in the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standards (SAS) No. 69, The Meaning of Present Fairly in Conformity with Generally Accept Accounting Principles. SAS No. 69 has been criticized because it is directed to the auditor rather than the entity. SFAS No. 162 addresses these issues by establishing that the GAAP hierarchy should be directed to entities because it is the entity (not the auditor) that is responsible for selecting accounting principles for financial statements that are presented in conformity with GAAP.  The sources of accounting principles that are generally accepted are categorized in descending order as follows:  a)FASB Statements of Financial Accounting Standards and Interpretations, FASB Statement 133 Implementation Issues, FASB Staff Positions, and American Institute of Certified Public Accountants (AICPA) Accounting Research Bulletins and Accounting Principles Board Opinions that are not superseded by actions of the FASB  b)FASB Technical Bulletins and, if cleared by the FASB, AICPA Industry Audit and Accounting Guides and Statements of Position  c)AICPA Accounting Standards Executive Committee Practice Bulletins that have been cleared by the FASB, consensus positions of the FASB Emerging Issues Task Force (EITF), and the Topics discussed in Appendix D of EITF Abstracts (EITF D-Topics)  d)Implementation guides (Q&As) published by the FASB staff, AICPA Accounting Interpretations, AICPA Industry Audit and Accounting Guides and Statements of Position not cleared by the FASB, and practices that are widely recognized and prevalent either generally or in the industry  SFAS No. 162 is effective 60 days following the SECs approval of the Public Company Accounting Oversight Board amendment to its authoritative literature. It is only effective for nongovernmental entities; therefore, the GAAP hierarchy will remain in SAS 69 for state and local governmental entities and federal governmental entities. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  On May 26, 2008, the FASB issued FASB Statement No. 163 (FASB ASC 163 944), Accounting for Financial Guarantee Insurance Contractsan interpretation of FASB Statement No. 60 (SFAS No. 163). SFAS No. 163 clarifies how FASB Statement No. 60, Accounting and Reporting by Insurance Enterprises (SFAS No. 60), applies to financial guarantee insurance contracts issued by insurance enterprises including the recognition and measurement of premium revenue and claim liabilities. It also requires expanded disclosures about financial guarantee insurance contracts.  The accounting and disclosure requirements of SFAS No. 163 are intended to improve the comparability and quality of information provided to users of financial statements by creating consistency. Diversity exists in practice in accounting for financial guarantee insurance contracts by insurance enterprises under SFAS No. 60, Accounting and Reporting by Insurance Enterprises. That diversity results in inconsistencies in the recognition and measurement of claim liabilities because of differing views about when a loss has been incurred under FASB Statement No. 5, Accounting for Contingencies (SFAS No. 5). SFAS No. 163 requires that an insurance enterprise recognize a claim liability prior to an event of default when there is evidence that credit deterioration has occurred in an insured financial obligation. It also requires disclosure about (a) the risk-management activities used by an insurance enterprise to evaluate credit deterioration in its insured financial obligations and (b) the insurance enterprises surveillance or watch list.  SFAS No. 163 is effective for financial statements issued for fiscal years beginning after December 15, 2008, and all interim periods within those fiscal years, except for disclosures about the insurance enterprises risk-management activities. Disclosures about the insurance enterprises risk-management activities are effective the first period beginning after issuance of SFAS No. 163. Except for those disclosures, earlier application is not permitted. The management of the Company does not expect the adoption of this pronouncement to have material impact on its financial statements.  On May 22, 2009, the FASB issued FASB Statement No. 164, (FASB ASC 164 958) Not-for-Profit Entities: Mergers and Acquisitions (SFAS No. 164). Statement 164 is intended to improve the relevance, representational faithfulness, and comparability of the information that a not-for-profit entity provides in its financial reports about a combination with one or more other not-for-profit entities, businesses, or nonprofit activities. To accomplish that, this Statement establishes principles and requirements for how a not-for-profit entity:  19    a.Determines whether a combination is a merger for an acquisition.b.Applies the carryover method in accounting for a merger.c.Applies the acquisition method in accounting for an acquisition, including determining which of the combining entities the acquirer is.d.Determines what information to disclose to enable users of financial statements to evaluate the nature and financial effects of a merger or an acquisition.  This Statement also improves the information a not-for-profit entity provides about goodwill and other intangible assets after an acquisition by amending FASB Statement No. 142, Goodwill and Other Intangible Assets, to make it fully applicable to not-for-profit entities.  Statement 164 is effective for mergers occurring on or after December 15, 2009, and acquisitions for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2009. Early application is prohibited. The management of the Company does not expect the adoption of this pronouncement to have material impact on its financial statements.  On May 28, 2009, the FASB issued FASB Statement No. 165, (FASB ASC 165 855) Subsequent Events (SFAS No. 165). Statement 165 establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. Specifically, Statement 165 provides:  1.The period after the balance sheet date during which management of a reporting entity should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements.2.The circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements.3.The disclosures that an entity should make about events or transactions that occurred after the balance sheet date.  In accordance with this Statement, an entity should apply the requirements to interim or annual financial periods ending after June 15, 2009. The adoption of this accounting pronouncement did not have a material impact on the Companys financial statements.  In June 2009, the FASB issued FASB Statement No. 166 (FASB ASC 166 860), Accounting for Transfers of Financial Assets  an amendment of FASB Statement No. 140 (SFAS No. 166). SFAS No. 166 is a revision to FASB Statement No. 140 Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities and will require more information about transfers of financial assets, including securitization transactions, and where companies have continuing exposure to the risks related to transferred financial assets. It eliminates the concept of a qualifying special-purpose entity, changes the requirements for derecognizing financial assets, and requires additional disclosures.  This statement is effective for financial asset transfers occurring after the beginning of an entity's first fiscal year that begins after November 15, 2009. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  In June 2009, the FASB issued FASB Statement No. 167 (FASB ASC 167 810),"Amendments to FASB Interpretation No. 46(R)" (SFAS No. 167). SFAS No. 167 amends certain requirements of FASB Interpretation No. 46(R), Consolidation of Variable Interest Entities and changes 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.  This statement is effective as of the beginning of each reporting entitys first annual reporting period that begins after November 15, 2009. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  20   In June 2009, the FASB issued FASB Statement No. 168 (FASB ASC 168 105), "The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles - a replacement of FASB Statement No. 162" ("SFAS No. 168"). SFAS No. 168 establishes the FASB Accounting Standards Codification (the "Codification") to become the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles (GAAP). The Codification did not change GAAP but reorganizes the literature.  SFAS No.168 is effective for interim and annual periods ending after September 15, 2009. The adoption of this accounting pronouncement did not have a material impact on the Companys financial statements.  ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK  We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.   21     BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) INDEX TO FINANCIAL STATEMENTS DECEMBER 31, 2009, AND 2008      Report of Registered Independent AuditorsF-2Restated Financial Statements-Balance Sheets as of December 31, 2009, and 2008.F-3Statements of Operations and Other Comprehensive (Loss) for the Years Ended December 31, 2009, and 2008F-4Statements of Stockholders (Deficit) for the Years Ended December 31, 2009, and 2008F-5Statements of Cash Flows for the Years Ended December 31, 2009, and 2008F-6Notes to Financial Statements December 31, 2009, and 2008F-7  F-1     REPORT OF REGISTERED INDEPENDENT AUDITORS   To the Board of Directors and Stockholders of Bloggerwave Inc.:  We have audited the accompanying balance sheets of Bloggerwave Inc. (a Nevada corporation, and formerly Elevated Concepts, Inc.) as of December 31, 2009, and 2008, and the related statements of operations and comprehensive (loss), stockholders (deficit), and cash flows for each of the two years in the period ended December 31, 2009. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audits.  We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States of America). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.  In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Bloggerwave Inc. as of December 31, 2009, and 2008, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2009, in conformity with accounting principles generally accepted in the United States of America.  The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has not established a significant source of revenues to cover its operating costs. As such, it has incurred an operating loss since inception. These and other factors raise substantial doubt about the Companys ability to continue as a going concern. Managements plan regarding these matters is also described in Note 2 to the financial statements. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.  As discussed in Note 3 to the financial statements, an error in the determination of the issuance of 5,000,000 shares of common stock (35,000,000 shares post reverse stock split) in connection with an Agreement and Plan of Merger between the Company and Bloggerwave ApS whereby the Company acquired 100 percent of the issued and outstanding shares of Bloggerwave ApS through a reverse merger was determined by management of the Company. In addition, the financial statements as of and for the year ended December 31, 2008, did not properly reflect the operations of Bloggerwave ApS as a result of the reverse merger. Accordingly, the financial statements and related notes thereto as of and for the periods ended December 31, 2009, and 2008, have been restated to correct the error.  Respectfully submitted,  /s/ Davis Accounting Group P.C.  Cedar City, Utah, March 26, 2009, except for Note 3, for which the date is November 5, 2010.  F-2     BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) BALANCE SHEETS - RESTATED (NOTES 2 AND 3) AS OF DECEMBER 31, 2009, AND 2008  ASSETS20092008Current Assets:Cash and cash equivalent$115$111Accounts receivable - Trade9,28210,145Prepaid expenses2,511-Total current assets11,90810,256Property and Equipment:Computer & office equipment3,8664,121Less - Accumulated depreciation(1,611)(1,030)Net property and equipment2,2553,091Other Assets:Security deposit-400Total other assets-400Total Assets$14,163$13,747LIABILITIES AND STOCKHOLDERS' (DEFICIT)Current Liabilities:Bank line of credit$-$7,899Accounts payable - Trade6,15012,827Accrued liabilities79,61272,119Deferred revenues1,3306,255Due to related party - Director and stockholder81,29911,322Loan from stockholder12,000-Total current liabilities180,391110,422Total liabilities180,391110,422Commitments and ContingenciesStockholders' (Deficit):Common stock, par value $0.001 per share, 200,000,000 sharesauthorized; 84,700,000 and 56,000,000 shares issued andoutstanding in 2009 and 2008, respectively84,70056,000Common stock issuable - 35,000,000 shares in 2009 and2008, respectively35,00035,000Discount on common stock(111,733)(63,065)Accumulated other comprehensive income2305,228Accumulated (deficit)(174,425)(129,838)Total stockholders' (deficit)(166,228)(96,675)Total Liabilities and Stockholders' (Deficit)$14,163$13,747  The accompanying notes to the financial statements are an integral part of these balance sheets.  F-3     BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE (LOSS) - RESTATED (NOTES 2 AND 3) FOR THE YEARS ENDED DECEMBER 31, 2009, AND 2008  Years EndedDecember 31,20092008Sales, net$120,719$152,981Cost of Goods Sold24,23525,019Gross Profit96,484127,962Selling, General and Administrative expenses253,713258,949(Loss) from Operations(157,229)(130,987)Other income (expense):Interest (expense)(1,271)(808)Provision for Income Taxes--Net (Loss)(158,500)(131,795)Other Comprehensive (Loss):Foreign currency translation(4,998)3,262Total Comprehensive (Loss)$(163,498)$(128,533)(Loss) Per Common Share:(Loss) per common share - Basic and Diluted$(0.00)$(0.00)Weighted Average Number of Common SharesOutstanding - Basic and Diluted113,016,43873,691,257  The accompanying notes to the financial statements are an integral part of these statements.  F-4     BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) STATEMENTS OF STOCKHOLDERS' (DEFICIT) - RESTATED (NOTES 2 AND 3) FOR THE YEARS ENDED DECEMBER 31, 2009, AND 2008  AccumulatedOtherCommon StockCommon Stock - IssuableDiscount onComprehensiveAccumulatedDescriptionSharesAmountSharesAmountCommon stockIncome (Loss)(Deficit)TotalBalance - December 31, 200721,000,000$ 21,00035,000,000$       35,000$          (33,065)$               1,966$           1,957$     26,858Common stock issued for cash35,000,00035,000--(30,000)--5,000Foreign currency translation adjustment---3,262-3,262Net (loss) for the period------(131,795)(131,795)Balance - December 31, 200856,000,00056,00035,000,00035,000(63,065)5,228(129,838)(96,675)Common stock issued for cash28,700,00028,700--4,100--32,800Impact of recapitalization from reverse merger----(52,768)-113,91361,145Foreign currency translation adjustment-----(4,998)-(4,998)Net (loss) for the period------(158,500)(158,500)Balance - December 31, 200984,700,000$ 84,70035,000,000$       35,000$        (111,733)$                  230$     (174,425)$ (166,228)  The accompanying notes to the financial statement is an integral part of these statements.  F-5     BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) STATEMENTS OF CASH FLOWS - RESTATED (NOTES 2 AND 3) FOR THE YEARS ENDED DECEMBER 31, 2009, AND 2008  Years EndedDecember 31,20092008Operating Activities:Net (loss)$(158,500)$(131,795)Adjustments to reconcile net (loss) to net cash(used in) operating activities:Depreciation581415Impact of recapitalization from reverse merger61,145-Changes in net assets and liabilities:Accounts receivable - Trade86367,536Prepaid expenses(2,511)-Security deposit and other655(400)Accounts payable - Trade(6,677)10,203Accrued liabilities7,49331,677Deferred revenues(4,925)6,255Net Cash (Used in) Operating Activities(101,876)(16,109)Investing Activities:Purchases and adjustments of computer equipment-(1,905)Net Cash (Used in) Investing Activities-(1,905)Financing Activities:Proceeds from the issuance of common stock32,8005,000Payments on bank line of credit(7,899)(1,459)Proceeds from Director and stockholder81,97711,322Net Cash Provided by Financing Activities106,87814,863Effect of Exchange Rate Changes on Cash(4,998)3,262Net Increase in Cash and Equivalent4111Cash and Cash Equivalent - Beginning of Period111-Cash and Cash Equivalent - End of Period$115$111Supplemental Disclosure of Cash Flow Information:Cash paid during the period for:Interest$-$-Income taxes$-$-  Additional Supplemental Disclosure of Cash Flow Information: On September 9, 2009, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Bloggerwave ApS. Per the terms of the Merger Agreement, the Company was to issue an aggregate of 35,000,000 shares of its common stock (post forward stock split) to the shareholders of Bloggerwave ApS on the basis of 350,000 restricted shares of the Company (post forward stock split) for each one share held of record by the Bloggerwave ApS shareholder; and, 21,000,000 shares of its common stock (post forward stock split) to the management of Bloggerwave ApS. The 35,000,000 shares of common stock (post forward stock split) related to the Merger Agreement were deemed as issuable by the Company, and the 21,000,000 shares were issued to the management of Bloggerwave ApS in the accompanying financial statements.  The accompanying notes to the financial statements are an integral part of these statements.  F-6   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   1) Summary of Significant Accounting Policies  Basis of Presentation and Organization  Bloggerwave Inc. (the Company and formerly Elevated Concepts, Inc.) was incorporated in the State of Nevada on December 21, 2006, under the name Elevated Concepts, Inc. The Company originally was in the business of export and sale of green, eco-friendly, biodegradable, non-toxic household products and building materials used in housing construction and home renovation in the emerging markets of Russia, Ukraine, and other Eastern European countries from North American manufacturers.  On September 9, 2009, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Bloggerwave ApS., a company incorporated under the laws of Denmark (Bloggerwave ApS). In accordance with the terms and provisions of the Merger Agreement, the Company was to: (i) issue an aggregate of 35,000,000 shares of its common stock (post forward stock split) to the shareholders of Bloggerwave on the basis of 350,000 restricted shares of the Company (post forward stock split) for each one share held of record by the Bloggerwave Shareholder; and (ii) issue 21,000,000 shares of its common stock (post forward stock split) to the management of Bloggerwave. See Note 3 for additional information. As a result of the Merger Agreement, the Company changed its name to Bloggerwave Inc. by way of Certificate of Amendment to its Articles of Incorporation filed with the Nevada Secretary of State on November 19, 2009.  Bloggerwave ApS was incorporated under the laws of Denmark on August 23, 2007. The business plan of the company is to help its corporate clients harness the power of the Internet by leveraging the power and credibility of blogs to promote products and services.  Given that Bloggerwave ApS is considered to have acquired the Company by a reverse merger through a Merger Agreement, and its stockholders currently have voting control of the Company, the accompanying financial statements and related disclosures in the notes to financial statements present the financial position as of December 31, 2009, and 2008, and the operations for the years ended December 31, 2009, and 2008, of Bloggerwave ApS under the name of the Company. The reverse merger has been recorded as a recapitalization of the Company, with the net assets of the Company and Bloggerwave ApS brought forward at their historical bases. The costs associated with the reverse merger have been expensed as incurred.  The accompanying financial statements of the Company were prepared from the accounts of the Company under the accrual basis of accounting.  Cash and Cash Equivalents  For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.  Accounts Receivable  Trade accounts receivable are recorded on services provided to customers, and generally are due under the terms of net 30 days. The trade receivables are not collateralized and interest is not accrued on past due accounts. Periodically, management reviews the adequacy of its provision for doubtful accounts based on historical bad debt expense results and current economic conditions using factors based on the aging of its accounts receivable. Additionally, the Company may identify additional allowance requirements based on indications that a specific customer may be experiencing financial difficulties. Actual bad debt results could differ materially from these estimates. As of December 31, 2009, and 2008, the balance of the allowance for doubtful account was $0 and $0, respectively. While management uses the best information available upon which to base estimates, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used for the purposes of analysis.  Property and Equipment  Property and equipment is stated at cost. Expenditures that materially increase useful lives are capitalized, while ordinary maintenance and repairs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:  Computer and office equipment                  3 years  F-7   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   Impairment of Long-lived Assets  The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. For the years ended December 31, 2009, and 2008, no events or circumstances occurred for which an evaluation of the recoverability of long-lived assets was required.  Lease Obligations  All noncancellable leases with an initial term greater than one year are categorized as either capital or operating leases. Assets recorded under capital leases are amortized according to the methods employed for property and equipment or over the term of the related lease if shorter.  Fair Value of Financial Instruments  The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of December 31, 2009, and 2008, the carrying value of the Companys financial instruments approximated fair value due to the short-term nature and maturity of these instruments.  Foreign Currency Translation  The Company accounts for foreign currency translation pursuant to SFAS No. 52 (FASB ASC 830-30), Foreign Currency Translation. The Companys functional currency is the Danish Krone (DKK). Under SFAS No. 52 (FASB ASC 830-30), all assets and liabilities are translated into United States dollars using the current exchange rate at the end of each fiscal period. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective periods. Translation adjustments are included in other comprehensive income (loss) for the period. Certain transactions of the Company are denominated in United States dollars or other currencies. Translation gains or losses related to such transactions are recognized for each reporting period in the related statement of operations and comprehensive income (loss).  Deferred Revenues  Prepayments from customers for merchandise that has not yet been shipped are recognized as deferred revenues in the accompanying financial statements.  Revenue Recognition  The Company recognizes revenues when completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is probable. The Company is required to collect a 25 percent value-added-tax (VAT) on each sale. Gross revenues do not include this VAT, which is remitted to the government semiannually.  Loss per Common Share  Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the periods. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the year ended December 31, 2009, and 2008.  F-8   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   Comprehensive Income (Loss)  The Company has adopted FASB Statement No. 130 (FASB ASC 220), Reporting Comprehensive Income. Comprehensive income or loss includes net income or loss and all changes in equity during a period that arises from non-owner sources, such as foreign currency items and unrealized gains and losses on certain investments in equity securities. For the years ended December 31, 2009, and 2008, the only components of comprehensive income (loss) were the net (loss) for the periods, and the foreign currency translation adjustments.  Income Taxes  The Company accounts for income taxes pursuant to FASB Statement No. 109 (FASB ASC 740), Accounting for Income Taxes. Under SFAS No. 109 (FASB ASC 740), deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences.  The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Companys financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carryforward period under the Federal tax laws.  Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the reliability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimate.  Estimates  The financial statements are prepared on the basis of accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of December 31, 2009, and 2008, and revenues and expenses for the years ended December 31, 2009, and 2008. Actual results could differ from those estimates made by management.  (2) Business Activities and Going Concern  The Company is currently devoting substantially all of its efforts towards conducting marketing of its products. The business plan of the Company is to help its corporate clients harness the power of the Internet by leveraging the power and credibility of blogs to promote products and services.  The Company has experienced an accumulated (deficit) through December 31, 2009, amounting to $(174,425). Since its organization and incorporation, the Company has initiated its activities in developing an innovative straightforward business model that helps companies spread Internet buzz about their products, brands, and services. Marketers realize that blogs are gathering large, loyal, and youthful followings. Bloggerwave is the key for companies wishing to access this market.  While management of the Company believes that the Company will be successful in its operating activities, there can be no assurance that it will be successful in the development of its sales such that it will generate sufficient revenues to sustain its operations. The management of the Company plans to continue to provide for its capital needs by the issuance of common stock and related party advances.  The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America which contemplate the continuation of the Company as a going concern. The Company has not established sufficient revenues to cover its operating costs, and as such, has incurred an operating loss since inception. Its ability to continue as a going concern is dependent upon the ability of the Company to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These and other factors raise substantial doubt about the Companys ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.  F-9   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   (3) Restatement  On September 9, 2009, as a condition of the completion of the Merger Agreement between the Company and Bloggerwave ApS, 21,000,000 million shares of common stock of the Company (post forward stock split) were to be issued to the management of Bloggerwave ApS, with an additional 35,000,000 shares of common stock (post forward stock split) to be issued to the stockholders of Bloggerwave ApS. Upon subsequent review of the stockholder records, the 35,000,000 shares were never issued in accordance with the terms of the Merger Agreement. The management of the Company is of the opinion that such shares should be issued and disclosed in the accompanying financial statements as issuable as of December 31, 2009, and 2008. The Company corrected the error by increasing common stock issuable in the Stockholders (Deficit) section of the accompanying balance sheets by 35,000,000 shares with a value of $5,000, as of December 31, 2009, and 2008. In addition, the discount on common stock and additional paid-in capital captions of the Stockholders (Deficit) section of the accompanying balance sheets were increased/decreased accordingly by the same amount. Further, the weighted average number of shares outstanding for the periods ended December 31, 2009, and 2008, were also adjusted by 35,000,000 shares to reflect the issuable status of the additional shares of common stock in the calculation of loss per share  basic and diluted.  In addition, upon review of the financial statements as of December 31, 2009, and 2008, it was determined that the amounts presented in the Stockholders (Deficit) section of the balance sheets, the statements of operations and comprehensive (loss), the statements of stockholders (deficit), and the statements of cash flows did not correctly include nor present the operations of Bloggerwave ApS under the terms of the Merger Agreement, which was determined to be a reverse merger transaction for financial reporting purposes. As such, these financial statements have been restated to reflect the impact of the recapitalization from the reverse merger, and to include the operations of Bloggerwave ApS as the primary operating entity. Such adjustments increased the net loss for the year ended December 31, 2009, from $(116,967) to $(158,500), and the net loss for the year ended December 31, 2008, from $(16,464) to $(131,795). The impact on the increases in net loss for the years effected was offset by corresponding adjustments to discount on common stock, accordingly. As such, the reported total amounts of stockholders (deficit) for the periods presented remained unchanged. (Loss) per share  basic and diluted for the years ended December 31, 2009, and 2008, remained unchanged at $(0.00) per share, and $(0.00) per share, respectively  (4) Loans from Directors and Officers  As of December 31, 2009, and 2008, loans from an individual who is a Director and officer of the Company amounted to $81,299, and $6,255, respectively. The loans were provided for working capital purposes, and are unsecured, non-interest bearing, and have no terms for repayment.  As of December 31, 2009, a loan from an individual who is a former Director and officer of the Company amounted to $12,000. The loan was provided for working capital purposes, and bears an interest rate of 6 percent.  (5) Common Stock  On September 9, 2009, as part of the Merger Agreement, the Company changed the number of authorized shares of common stock from 75,000,000 shares with a par value of $0.001 per share to 200,000,000 with a par value of $.001 per share. No other classes of stock are authorized. As of December 31, 2009, the Company had not granted any stock options or recorded any stock-based compensation. On January 20, 2010, the Company effected a 7-for-1 forward stock split of its issued and outstanding common stock. The accompanying financial statements have been adjusted accordingly to reflect this forward stock split.  In June 2008, the Company issued 17,500,000 shares of its common stock (post forward stock split) to its former Director, President, and CEO at par value. The transaction was valued at $2,500.  In June 2008, the Company issued 17,500,000 shares of its common stock (post forward stock split) to its former Director, Secretary, Chief Financial Officer, Treasurer, and Principal Accounting Officer at par value. The transaction was valued at $2,500.  F-10   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   On July 22, 2008, the Company also commenced a capital formation activity to file a Registration Statement on Form S-1 with the SEC to register a minimum of 28,000,000 shares, and a maximum of 350,000,000 shares of common stock (post forward stock split), par value $0.001 per share, and raise up to $400,000 in proceeds from the sale of common stock at $0.001 per share in the public markets. On October 14, 2008, the Company filed a Registration Statement on Form S-1 with the SEC to register 350,000,000 shares of its common stock (post forward stock split). The Registration Statement was declared effective by the SEC on October 28, 2008. After the effective date of the Registration Statement, the Company commenced the sale of the registered shares. On March 27, 2009, the Company closed the offering by selling 28,700,000 shares of its common stock (post forward stock split) for proceeds of $32,800.  On September 9, 2009, the Company entered into a Merger Agreement with Bloggerwave ApS. In accordance with the terms and provisions of the Merger Agreement, the Company: (i) issued an aggregate of 35,000,000 shares of its common stock (post forward stock split) to the shareholders of Bloggerwave ApS (the Bloggerwave Shareholders) on the basis of 350,000 restricted shares of the Company (post forward stock split) for each one share held of record by the Bloggerwave Shareholders; and (ii) issued 21,000,000 shares of its common stock (post forward stock split) to the management of Bloggerwave ApS. The Company completed the issuance of the 21,000,000 shares of common stock (post forward stock split) to the management of Bloggerwave ApS. The issuance of the 35,000,000 shares of common stock (post forward stock split) was not completed by the Company and is disclosed as common stock issuable in the accompanying financial statements. See Note 3 for further information.  Bloggerwave ApS was incorporated under the laws of Denmark on August 23, 2007. The business plan of the company is to help its corporate clients harness the power of the Internet by leveraging the power and credibility of blogs to promote products and services.  Given that Bloggerwave ApS is considered to have acquired the Company by a reverse merger through a Merger Agreement, and its stockholders currently have voting control of the Company, the accompanying financial statements and related disclosures in the notes to financial statements present the financial position as of December 31, 2009, and 2008, and the operations for the years ended December 31, 2009, and 2008, of Bloggerwave ApS under the name of the Company. The reverse merger has been recorded as a recapitalization of the Company, with the net assets of the Company and Bloggerwave ApS brought forward at their historical bases. The costs associated with the reverse merger have been expensed as incurred.  (6) Income Taxes  The provision (benefit) for income taxes for the years ended December 31, 2009, and 2008, were as follows (assuming a 15 percent effective tax rate):  Years EndedDecember 31,20092008Current Tax ProvisionFederalTaxable Income$$ -$-Total current tax provision$-$-Deferred Tax Provision:Federal-Loss carryforward$23,775$19,769Change in valuation allowance(23,775)(19,769)Total deferred tax provision$-$-   F-11   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   The Company had deferred income tax assets as of December 31, 2009, and 2008, as follows:  As ofAs ofDecember 31,December 31,20092008Loss carryforwards$43,251$19,476Less - Valuation allowance(43,251)(19,476)Total net deferred tax assets$-$-  The Company provided a valuation allowance equal to the deferred income tax assets for the year ended December 31, 2009, and 2008, because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforwards.  As of December 31, 2009, and 2008, the Company had approximately $174,425 and $129,838, respectively, in tax loss carryforwards that can be utilized in future periods to reduce taxable income, and begin to expire in the year 2027.  (7) Related Party Transactions  As described in Note 4, as of December 31, 2009, and December 31, 2008, the Company owed $81,299 and $11,322, respectively, to an individual who is a Director and officer of the Company.  As described in Note 5, the Company issued 17,500,000 shares of its common stock (post forward stock split) to its former Director, President, and Chief Executive Officer at par value. The transaction was valued at $2,500.  As described in Note 5, the Company issued 17,500,000 shares of its common stock (post forward stock split) to its former Director, Secretary, Chief Financial Officer, Treasurer, and Principal Accounting Officer at par value. The transaction was valued at $2,500.  As described in Note 4, On December 31, 2009, a loan from an individual who is a former Director and officer of the Company amounted to $12,000. The loan was provided for working capital purposes and bears interest at the rate of 6 percent.  (8) Commitments  On April 16, 2009, the Company entered into an Authorized Reseller Agreement (Agreement) with an unrelated third party. The Agreement grants to Salomatkin & Partners the nonexclusive right to resell products supplied by the Company in the Moscow Region in Russia for one year.  (9) Recent Accounting Pronouncements  In March 2008, the FASB issued FASB Statement No. 161 (FASB ASC 815), Disclosures about Derivative Instruments and Hedging Activities  an amendment of FASB Statement 133. SFAS No. 161 (FASB ASC 815) enhances required disclosures regarding derivatives and hedging activities, including enhanced disclosures regarding how: (a) an entity uses derivative instruments; (b) derivative instruments and related hedged items are accounted for under FASB No. 133, Accounting for Derivative Instruments and Hedging Activities; and (c) derivative instruments and related hedged items affect an entitys financial position, financial performance, and cash flows. Specifically, SFAS No. 161 (FASB ASC 815) requires:  · disclosure of the objectives for using derivative instruments be disclosed in terms of underlying risk and accounting designation; · disclosure of the fair values of derivative instruments and their gains and losses in a tabular format; · disclosure of information about credit-risk-related contingent features; and · cross-reference from the derivative footnote to other footnotes in which derivative-related information is disclosed.  SFAS No. 161 (FASB ASC 815) is effective for fiscal years and interim periods beginning after November 15, 2008. Earlier application is encouraged. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  F-12   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   On May 9, 2008, the FASB issued FASB Statement No. 162 (FASB ASC 105), The Hierarchy of Generally Accepted Accounting Principles. SFAS No. 162 (FASB ASC 105) is intended to improve financial reporting by identifying a consistent framework, or hierarchy, for selecting accounting principles to be used in preparing financial statements that are presented in conformity with U.S. generally accepted accounting principles (GAAP) for nongovernmental entities.  Prior to the issuance of SFAS No. 162 (FASB ASC 105), GAAP hierarchy was defined in the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standards (SAS) No. 69, The Meaning of Present Fairly in Conformity with Generally Accept Accounting Principles. SAS No. 69 has been criticized because it is directed to the auditor rather than the entity. SFAS No. 162 (FASB ASC 105) addresses these issues by establishing that the GAAP hierarchy should be directed to entities because it is the entity (not the auditor) that is responsible for selecting accounting principles for financial statements that are presented in conformity with GAAP.  The sources of accounting principles that are generally accepted are categorized in descending order as follows:  a)FASB Statements of Financial Accounting Standards and Interpretations, FASB Statement 133 Implementation Issues, FASB Staff Positions, and American Institute of Certified Public Accountants (AICPA) Accounting Research Bulletins and Accounting Principles Board Opinions that are not superseded by actions of the FASB  b)FASB Technical Bulletins and, if cleared by the FASB, AICPA Industry Audit and Accounting Guides and Statements of Position  c)AICPA Accounting Standards Executive Committee Practice Bulletins that have been cleared by the FASB, consensus positions of the FASB Emerging Issues Task Force (EITF), and the Topics discussed in Appendix D of EITF Abstracts (EITF D-Topics)  d)Implementation guides (Q&As) published by the FASB staff, AICPA Accounting Interpretations, AICPA Industry Audit and Accounting Guides and Statements of Position not cleared by the FASB, and practices that are widely recognized and prevalent either generally or in the industry  SFAS No. 162 (FASB ASC 105) is effective 60 days following the SECs approval of the Public Company Accounting Oversight Board amendment to its authoritative literature. It is only effective for nongovernmental entities; therefore, the GAAP hierarchy will remain in SAS 69 for state and local governmental entities and federal governmental entities. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  On May 26, 2008, the FASB issued FASB Statement No. 163 (FASB ASC 944), Accounting for Financial Guarantee Insurance Contractsan interpretation of FASB Statement No. 60. SFAS No. 163 (FASB ASC 944) clarifies how FASB Statement No. 60, Accounting and Reporting by Insurance Enterprises (SFAS No. 60), applies to financial guarantee insurance contracts issued by insurance enterprises including the recognition and measurement of premium revenue and claim liabilities. It also requires expanded disclosures about financial guarantee insurance contracts.  The accounting and disclosure requirements of SFAS No. 163 (FASB ASC 944) are intended to improve the comparability and quality of information provided to users of financial statements by creating consistency. Diversity exists in practice in accounting for financial guarantee insurance contracts by insurance enterprises under SFAS No. 60. That diversity results in inconsistencies in the recognition and measurement of claim liabilities because of differing views about when a loss has been incurred under FASB Statement No. 5, Accounting for Contingencies (SFAS No. 5). SFAS No. 163 (FASB ASC 944) requires that an insurance enterprise recognize a claim liability prior to an event of default when there is evidence that credit deterioration has occurred in an insured financial obligation. It also requires disclosure about (a) the risk-management activities used by an insurance enterprise to evaluate credit deterioration in its insured financial obligations and (b) the insurance enterprises surveillance or watch list.  SFAS No. 163 (FASB ASC 944) is effective for financial statements issued for fiscal years beginning after December 15, 2008, and all interim periods within those fiscal years, except for disclosures about the insurance enterprises risk-management activities. Disclosures about the insurance enterprises risk-management activities are effective the first period beginning after issuance of SFAS No. 163 (FASB ASC 944). Except for those disclosures, earlier application is not permitted. The management of the Company does not expect the adoption of this pronouncement to have material impact on its financial statements.  F-13   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   On May 22, 2009, the FASB issued FASB Statement No. 164 (FASB ASC 958), Not-for-Profit Entities: Mergers and Acquisitions. SFAS No. 164 (FASB ASC 958) is intended to improve the relevance, representational faithfulness, and comparability of the information that a not-for-profit entity provides in its financial reports about a combination with one or more other not-for-profit entities, businesses, or nonprofit activities. To accomplish that, this Statement establishes principles and requirements for how a not-for-profit entity:  a.Determines whether a combination is a merger or an acquisition.b.Applies the carryover method in accounting for a merger.c.Applies the acquisition method in accounting for an acquisition, including determining which of the combining entities the acquirer is.d.Determines what information to disclose to enable users of financial statements to evaluate the nature and financial effects of a merger or an acquisition.  This Statement also improves the information a not-for-profit entity provides about goodwill and other intangible assets after an acquisition by amending FASB Statement No. 142, Goodwill and Other Intangible Assets, to make it fully applicable to not-for-profit entities.  SFAS No. 164 (FASB ASC 958) is effective for mergers occurring on or after December 15, 2009, and acquisitions for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2009. Early application is prohibited. The management of the Company does not expect the adoption of this pronouncement to have material impact on its financial statements.  On May 28, 2009, the FASB issued FASB Statement No. 165 (FASB ASC 855), Subsequent Events. SFAS No. 165 (FASB ASC 855) establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. Specifically, SFAS No. 165 (FASB ASC 855) provides:  1.The period after the balance sheet date during which management of a reporting entity should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements.2.The circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements.3.The disclosures that an entity should make about events or transactions that occurred after the balance sheet date.  In accordance with this Statement, an entity should apply the requirements to interim or annual financial periods ending after June 15, 2009. The adoption of this pronouncement did not have a material impact on the financial statements of the Company.  In June 2009, the FASB issued FASB Statement No. 166 (FASB ASC 860), Accounting for Transfers of Financial Assets  an amendment of FASB Statement No. 140. SFAS No. 166 (FASB ASC 860) is a revision to FASB Statement No. 140 Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities and will require more information about transfers of financial assets, including securitization transactions, and where companies have continuing exposure to the risks related to transferred financial assets. It eliminates the concept of a qualifying special-purpose entity, changes the requirements for derecognizing financial assets, and requires additional disclosures.  This statement is effective for financial asset transfers occurring after the beginning of an entity's first fiscal year that begins after November 15, 2009. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  In June 2009, the FASB issued FASB Statement No. 167 (FASB ASC 810),"Amendments to FASB Interpretation No. 46(R). SFAS No. 167 (FASB ASC 810) amends certain requirements of FASB Interpretation No. 46(R), Consolidation of Variable Interest Entities and changes 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.  This statement is effective as of the beginning of each reporting entitys first annual reporting period that begins after November 15, 2009. The management of the Company does not expect the adoption of this pronouncement to have a material impact on its financial statements.  F-14   BLOGGERWAVE INC. (FORMERLY ELEVATED CONCEPTS, INC.) NOTES TO FINANCIAL STATEMENTS - RESTATED DECEMBER 31, 2009, AND 2008   In June 2009, the FASB issued FASB Statement No. 168 (FASB ASC 105), "The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles - a replacement of FASB Statement No. 162. SFAS No. 168 (FASB ASC 105) establishes the FASB Accounting Standards Codification (the "Codification") to become the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles (GAAP). The Codification did not change GAAP but reorganizes the literature.  SFAS No. 168 (FASB ASC 105) is effective for interim and annual periods ending after September 15, 2009. The adoption of this accounting pronouncement did not have a material impact on the financial statements of the Company.  (10) Subsequent Events  On January 20, 2010, the Company effected a 7-for-1 forward stock split of its issued and outstanding common stock. The accompanying financial statements have been adjusted accordingly to reflect this forward stock split.  On January 22, 2010, the Company entered into an Advisory Board Member Agreement with Peter Hewitt ("Hewitt Agreement"). Per the terms of the Hewitt Agreement, Mr. Hewitt shall serve for a period of two years as an advisor to the Company for business development and growth strategies, and other advisory services as determined from time to time by the Board of Directors. As consideration for the Hewitt Agreement, Mr. Hewitt will receive a one-time payment of $10,000, and 211,750 shares of the Company's common stock (post forward stock split).  On January 22, 2010, the Company entered into an Advisory Board Member Agreement with Midstone Consulting Ltd., the principal of which is Louis Yerolemou ("Yerolemou Agreement"). Per the terms of the Yerolemou Agreement, Mr. Yerolemou shall serve for a period of two years as an advisor to the Company for business development and growth strategies, and other advisory services as determined from time to time by the Board of Directors. As consideration for the Yerolemou Agreement, Mr. Yerolemou will receive a one-time payment of $10,000, and 211,750 shares of the Company's common stock (post forward stock split).  On January 27, 2010, the Board of Directors of the Company approved a change in the Company's fiscal year end from September 30th to December 31st.  On January 28, 2010, the Company announced that it had received its new symbol, and that its common stock was now trading under the symbol BLGW.OB.  On February 9, 2010, the Company announced the appointment of Peter Hewitt to its newly created Advisory Board.  On February 11, 2010, the Company announced the appointment of Louis Yeromelou to its newly created Advisory Board.  On February 22, 2010, the Company announced that it has relocated its corporate headquarters to Mountainview, CA.  On March 2, 2010, the Company announced the opening of new office space in Denmark to accommodate the Registrants business growth.  On March 4, 2010, the Company announced it had launched a new corporate website created for shareholders and potential investors.  On March 16, 2010, the Company announced that it had extended its contract with Buzzamedia, a viral marketing platform in Scandinavia. The contract will include all of Scandinavia and the United Kingdom.  On March 18, 2010, the Company announced that it had contracted to run all marketing and advertising in 2010 for Green Hearts Natural Charcoal Briquettes, a barbeque product created for the American market.   F-15     ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.  ITEM 9A. CONTROLS AND PROCEDURES.  Disclosure Controls and Procedures  We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.  We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2009. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.  Managements Annual Report on Internal Control Over Financial Reporting  Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f). The Companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.  Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, 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 or procedures may deteriorate.  Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Companys internal control over financial reporting based on the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO").  A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Companys annual or interim financial statements will not be prevented or detected on a timely basis. In its assessment of the effectiveness of internal control over financial reporting as of December 31, 2009, the Company determined that there were control deficiencies that constituted material weaknesses, as described below:


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| | 1. | We do not have an Audit Committee or a financial expert on our Board of Directors While not being legally obligated to have an audit committee, it is the managements view that such a committee, including a financial expert member, is an utmost important entity level control over the Companys financial statement. Currently the Board of Directors acts in the capacity of the Audit Committee, consisting of three members, including two independent members. All members of the Board of Directors lack sufficient financial expertise for overseeing financial reporting responsibilities.                                                                                                          
| |   
| | 2. | We did not maintain appropriate cash controls As of December 31, 2009, the Company has not maintained sufficient internal controls over financial reporting for the cash process, including failure to perform monthly bank reconciliations. Alternatively, the effects of poor cash controls were mitigated by the fact that the Company had limited transactions in their bank accounts during the year ended December 31, 2009 and that the Companys quarterly and year-end financial statements and audit working papers and supporting documents were prepared and reviewed by an independent accountant prior to submission to our external auditors, which mitigated the risk of misappropriation of cash.

Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the companys internal controls.  22     As a result of the material weaknesses described above, management, including the Chief Executive Officer and Chief Financial Officer, has concluded that the Company did not maintain effective internal control over financial reporting as of December 31, 2009 based on criteria established in Internal ControlIntegrated Framework issued by COSO.  Davis Accounting Group P.C., an independent registered public accounting firm, was not required to and has not issued a report concerning the effectiveness of our internal control over financial reporting as of December 31, 2009.  Continuing Remediation Efforts to Address Deficiencies in Companys Internal Control Over Financial Reporting  Once the Company is engaged in a business of merit and has sufficient personnel available, then our Board of Directors, in particular and in connection with the aforementioned deficiencies, will establish the following remediation measures:  1.Our Board of Directors will nominate an audit committee or a financial expert on our Board of Directors in fiscal 2010.2.We will appoint additional personnel to assist with the preparation of the Companys monthly financial reporting, including preparation of the monthly bank reconciliations.  Changes in Internal Control and Financial Reporting  There were no changes in the Companys internal control over financial reporting during the fourth quarter of fiscal year 2009 that materially affected, or were reasonably likely to materially affect, the Companys internal control over financial reporting.  ITEM 9B. OTHER INFORMATION  None.  PART III  ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE  The following table presents information with respect to our officers, directors and significant employees as of the date of this Report:  NamePositionUlrik Svane ThomsenDirector, Chief Executive Officer & President, Chief Financial Officer & TreasurerJacob W. LemmekeSecretary & Director  Each director serves until our next annual meeting of the stockholders or unless they resign earlier. The Board of Directors elects officers and their terms of office are at the discretion of the Board of Directors.  Each of our directors serves until his or her successor is elected and qualified. Each of our officers is elected by the board of directors to a term of one (1) year and serves until his or her successor is duly elected and qualified, or until he or she is removed from office. At the present time, members of the board of directors are not compensated for their services to the board.  Biographical Information Regarding Officers and Directors  Ulrik Svane Thomsen.Mr. Thomsen is the Chief Executive Officer, President, Chief Financial OFficer, Treasurer and a director of the Company. Mr. Thomsen's educational background includes a Business School Student and fulfilled a studentship at a.henriksen shipping a/s a shipping company. Mr. Thomsen has over eight years experience as a certified IT manager, working both in Denmark and throughout most of Europe. From 2000 to 2005, Mr. worked as IT systems manager for Marriott International where his duties included system installations all over Europe and Asia. Thereafter from 2005 to 2007, Mr. Thomsen worked as project manager for the Radisson Hotel Group where he was responsible for all New and ongoing IT projects for the Radisson Hotel group in Denmark. In 2007, along with Mr. Lemmeke, Mr. Thomsen founded Bloggerwave APS in Denmark. In 2009, as a result of the transaction between the Company and Bloggerwave APS, Mr. Thomsen became an officer and director of the Company. In light of Mr. Thomsen's vast experience in the IT sector detailed above, the Company's Board of Directors concluded that it was in the Company's best-interest for him to serve as a director.  23     Jacob W. Lemmeke.Mr. Lemmeke is the Secretary and a director of the Company. From 2003 to 2004, Mr. Lemmeke worked as a sales consultant at Mercoprint where his duties included sales. From 2004 to 2007, Mr. Lemmeke worked as a Business Development and as a Sales Manager at Wiseport, where he was responsible for all sales staff and Mega chains in Europe. In 2007, along with Mr. Thomsen, Mr. Lemmeke founded Bloggerwave APS. In 2009, as a result of the transaction with the Company, Mr. Lemmeke was appointed as a director of the Company by the Board of Directors which concluded that Mr. Lemmeke was qualified to serve as a director as a result of his extensive experience in the sales field and because of his previous involvement in founding Bloggerwave APS. Currently, Mr. Lemmeke oversees Bloggerwave operations, where he leads the interactive advertising sales and strategic development, including partnerships with major operators, publishers and ad networks. Mr. Lemmeke and his team are instrumental in launching interactive services to engage a massive base of users and creating compelling marketing opportunities for advertisers.  Identification of Significant Employees  We have no significant employees other than Ulrik Svane Thomsen, our President, Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and a Director.  Family Relationship  We currently do not have any officers or directors of our company who are related to each other.  Advisory Board  On January 22, 2010, the Company established an Advisory Board, naming Ulrik Svane Thomsen as Chairman of the Advisory Board. On the same date, the Company named Mr. Peter Hewitt and Mr. Louis Yerolemou as members of the Advisory Board. Mr. Hewitt and Mr. Yerolemou shall serve for a period of two years as advisors to the Company for business development and growth strategies, as well as other advisory services as determined from time to time by the Board of Directors. As consideration for their involvement, both Mr. Hewitt and Mr. Yerolemou will receive a one-time payment of $10,000USD.  Compliance with Section 16(a) of the Securities Exchange Act of 1934  Section 16(a) of the Exchange Act requires our executive officers and directors and persons who own more than 10% of a registered class of our equity securities to file with the SEC initial statements of beneficial ownership, reports of changes in ownership and annual reports concerning their ownership of our common stock and other equity securities, on Forms 3, 4 and 5 respectively. Executive officers, directors and greater than 10% shareholders are required by the SEC regulations to furnish us with copies of all Section 16(a) reports that they file.   Based solely on our review of the copies of such forms received by us, or written representations from certain reporting persons, we believe that all Section 16(a) filing requirements applicable to our officers, directors and greater than ten percent beneficial owners were complied with the exception that our current officers and directors have failed to file any such reports. We anticipate that such reports will be filed within 30 days.  Audit Committee  The Company intends to establish an audit committee of the board of directors, which will consist of soon-to-be-nominated independent directors. The audit committees duties would be to recommend to the Companys board of directors the engagement of an independent registered public accounting firm to audit the Companys financial statements and to review the Companys accounting and auditing principles. The audit committee would review the scope, timing and fees for the annual audit and the results of audit examinations performed by the internal auditors and independent registered public accounting firm, including their recommendations to improve the system of accounting and internal controls. The audit committee would at all times be composed exclusively of directors who are, in the opinion of the Companys board of directors, free from any relationship which would interfere with the exercise of independent judgment as a committee member and who possess an understanding of financial statements and generally accepted accounting principles.  Compensation Committee  The Company intends to establish a compensation committee of the Board of Directors. The compensation committee would review and approve the Companys salary and benefits policies, including compensation of executive officers.  24     Code of Ethics  We adopted a code of ethics as of May 31, 2009. This policy will serve as guidelines in helping employee to conduct our business in accordance with our values. Compliance requires meeting the spirit, as well as the literal meaning, of the law, the policies and the Values. It is expected that employee will use common sense, good judgment, high ethical standards and integrity in all their business dealings.  INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS  We are not currently involved in any legal proceedings.  During the last five (5) years, none of our directors or officers has:  1) had any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; 2) been convicted in a criminal proceeding or subject to a pending criminal proceeding; 3) been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or 4) been found by a court of competent jurisdiction in a civil action, the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.  ITEM 11. EXECUTIVE COMPENSATION  The table set forth below summarizes the annual and long-term compensation for services in all capacities to us payable to our executive officers during the years ending December 31, 2009 and 2008:  Summary Compensation Table  Name and Principal
PositionYearSalaryBonus
AwardsStock
AwardsOther
Incentive
CompensationNon-Equity
Plan
CompensationNonqualified
Deferred
EarningsAll
Other
CompensationTotal($)($)($)($)($)($)($)($)(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)Ulrik Svane Thomsen (1)
Chief Executive Officer, President, Chief Financial Officer & Treasurer2009
20084,588
44,402Jacob W. Lemmeke, (2)
Director & Secretary2009
20080
39,468Nadezda Bulichera (3)
Chief Financial Officer, Treasurer, Principal Accounting Officer, Principal Financial Officer, & Director2008Vasili Borisov (4)
Chief Executive Officer, President, & Director2008  There are no employment contracts, compensatory plans or arrangements, including payments to be received from the Company with respect to any executive officer, that would result in payments to such person because of his or her resignation, retirement or other termination of employment with the Company, or its subsidiaries, any change in control, or a change in the persons responsibilities following a change in control of the Company.  Narrative to Security Ownership of ManagementTable  (1) Mr. Thomsen receives compensation of $0 monthly commencing in September 2009. (2) Mr. Lemmeke receives compensation of $0 monthly commencing in September 2009. (3) On September 9, 2009, Ms. Nadezda Bulichera resigned from all positions with the Company. (4) On September 9, 2009, Mr. Vasili Borisov resigned from all positions with the Company.  25     Outstanding Equity Awards at Fiscal Year-End  No named Executive Officer received any equity awards, or holds exercisable or unexercisable options, as of the years ended December 31, 2009 and 2008.  Compensation of Directors  Our directors who are also our employees receive no extra compensation for their service on our board of directors.  Pension Benefits and Nonqualified Deferred Compensation  The Company does not maintain any qualified retirement plans or non-nonqualified deferred compensation plans for its employees or directors.  ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS  The following table sets forth certain information regarding beneficial ownership of our common stock as of December 31, 2009: (i) by each of our directors, (ii) by each of the Named Executive Officers, (iii) by all of our executive officers and directors as a group, and (iv) by each person or entity known by us to beneficially own more than five percent (5%) of any class of our outstanding shares. As of December 31, 2009 there were 17,100,000 shares of our common stock outstanding:  Name and Address of Beneficial Owner
Directors and Officers:Amount and
Nature of
Beneficial
OwnershipPercentage
of Beneficial
Ownership (1)Ulrik Svane Thomsen
Klovermarken 42
3060 Espergaerde, Denmark3,000,00017.54%Jacob W. Lemmeke
Sortevej 3
3070 Snekkersten, Denmark3,000,00017.54%All executive officers and directors as a group (2 persons)6,000,00035.09%Beneficial Shareholders greater than 5%IQ Division Corp.(2)
1802 North Carson Street, Suite 108
Carson City, NV 897013,500,00020.47%Sapiens Alliance Ltd.(3)
Akara Bldg., 24 De Castro Street
Wickhams Cay I
Road town, Tortola,
British Virgin Islands1,500,0008.77%Svaneco Ltd.(4)
Akara Bldg., 24 De Castro Street
Wickhams Cay I
Road town, Tortola,
British Virgin Islands1,500,0008.77%   26     (1) Applicable percentage of ownership is based on 17,100,000 shares of common stock outstanding on December 31, 2009. Percentage ownership is determined based on shares owned together with securities exercisable or convertible into shares of common stock within 60 days of December 31, 2009 for each stockholder. Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of common stock subject to securities exercisable or convertible into shares of common stock that are currently exercisable or exercisable within 60 days of December 31, 2009 are deemed to be beneficially owned by the person holding such securities for the purpose of computing the percentage of ownership of such person, but are not treated as outstanding for the purpose of computing the percentage ownership of any other person. Our common stock is our only issued and outstanding class of securities eligible to vote.  (2) Rene Lauritsen, a resident of Denmark, has dispositive and voting power over the shares of IQDivision Corp., a Nevada company, of which he is the sole officer and director.  (3) Rene Lauritsen, a resident of Denmark, has dispositive and voting power over the shares of Sapiens Alliance Ltd., a BVI company, of which he is the director.  (4) Jesper Svane, a resident of Denmark, has dispositive and voting power over the shares of Svaneco Ltd., a BVI company, of which he is the director.  Changes in Control  We know of no plans or arrangements that will result in a change of control at our company.  ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS  Related Party Transactions  There have been no related party transactions, or any other transactions or relationships required to be disclosed pursuant to Regulation S-K, except as reported elsewhere in this Report.  With regard to any future related party transaction, we plan to fully disclose any and all related party transactions in the following manor:  · disclosing such transactions in reports where required; · disclosing in any and all filings with the SEC, where required; · obtaining disinterested directors consent; and · obtaining shareholder consent where required.  ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES     Fiscal year
ended
December 31,
2009Fiscal year
ended
December 31,
2008Audit Fees$15,000$11,580Audit Related Fees--Tax Fees1,000-All Other Fees--Total$16,000$11,580  Audit Fees  During the fiscal years ended December 31, 2009 and 2008, we incurred approximately $16,000 in fees to our principal independent accountants for professional services rendered in connection with the audit and reviews of our financial statements for fiscal years ended December 31, 2009 and 2008.  During the fiscal year ended December 31, 2008, we incurred approximately $11,580 in fees to our principal independent accountants for professional services rendered in connection with the audit and reviews of our financial statements for fiscal year ended December 31, 2008.  27     Audit-Related Fees  The aggregate fees billed during the fiscal years ended December 31, 2009 and 2008 for assurance and related services by our principal independent accountants that are reasonably related to the performance of the audit or review of our financial statements (and are not reported under Item 9(e)(1) of Schedule 14A was $0 and $0, respectively.  Tax Fees  The aggregate fees billed during the fiscal year ended December 31, 2009 for professional services rendered by our principal accountant tax compliance, tax advice and tax planning was $0.00 and $0.00, respectively.  All Other Fees  The aggregate fees billed during the fiscal year ended December 31, 2009 for products and services provided by our principal independent accountants (other than the services reported in Items 9(e)(1) through 9(e)(3) of Schedule 14A was $0 and $0, respectively.  PART IV  ITEM 15. EXHIBITS.  (a) Documents filed as part of this Report.  1. Financial Statements. The Consolidated Balance Sheet of Ethos Environmental, Inc., and subsidiaries as of December 31, 2009 and 2008, the Consolidated Statements of Operations for the year ended December 31, 2009 and 2008, the Consolidated Statements Stockholders Equity (Deficit) from inception of development stage to December 31, 2009, and Statements of Cash Flows for the year ended December 31, 2009, and together with the notes thereto and the report of M&K CPAS, PLLC thereon appearing in Item 8 are included in this 2009 Annual Report on Form 10-K/A Amendment No. 1.  2. Exhibits. The following exhibits are either filed as a part hereof or are incorporated by reference. Exhibit numbers correspond to the numbering system in Item 601 of Regulation S-K.


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|Exhibit |                                                                                                                     |                                                                                          
|Number  | Description of Exhibit                                                                                              | Filing                                                                                   
|3.01    | Articles of Incorporation                                                                                           | Filed with the SEC on October 14, 2008 as part of our Registration Statement on Form S-1.
|3.01a   | Certificate of Amendment to Articles of Incorporation filed with the Nevada Secretary of State on November 19, 2009 | Filed herewith.                                                                          
|3.02    | Bylaws                                                                                                              | Filed with the SEC on October 14, 2008 as part of our Registration Statement on Form S-1.
|10.1    | Authorized Reseller Agreement between Elevated Concepts Inc. and Salomatkin & Partners dated April 16, 2009         | Filed with the SEC on April 20, 2009 as part of our Current Report on Form 8-K.          
|10.2    | Merger Agreement between Elevated Concepts, Inc. and Bloggerwave, Inc. dated September 9, 2009                      | Filed with the SEC on September 14, 2009 as part of our Current Report on Form 8-K.      
|10.3    | Advisory Board Member Agreement between Bloggerwave, Inc. and Peter Hewitt dated January 22, 2010.                  | Filed with the SEC on February 11, 2010 as part of our Current Report on Form 8-K.       
|10.4    | Advisory Board Member Agreement between Bloggerwave, Inc. and Midstone Consulting, Ltd. dated January 22, 2010.     | Filed with the SEC on February 11, 2010 as part of our Current Report on Form 8-K.       
|14.1    | Code of Ethics                                                                                                      | Filed with the SEC on December 7, 2009 as part of our Current Report on Form 8-K.        
|31.01   | Certification of Principal Executive Officer Pursuant to Rule 13a-14                                                | Filed herewith.                                                                          
|31.02   | Certification of Principal Financial Officer Pursuant to Rule 13a-14                                                | Filed herewith.                                                                          
|32.01   | CEO and CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act                                         | Filed herewith.                                                                          

28     SIGNATURES  Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.  BLOGGERWAVE, INC.    Dated: November 16, 2010 /s/ Ulrik Svane By: Ulrik Svane Thomsen Its: President and Principal Executive Officer     Dated: November 16, 2010 /s/ Ulrik Svane By: Ulrik Svane Thomsen Its: Chief Financial Officer and Principal Accounting Officer   Pursuant to the requirement of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated:     Dated: November 16, 2010 /s/ Ulrik Svane Ulrik Svane Thomsen, Director    Dated: November 16, 2010 /s/ Jacob W. Lemmkek Jacob W. Lemmeke, Director   29