SECURITIES AND EXCHANGE
COMMISSION
 Washington, D.C.
20549
 
 FORM 10-QSB/A
 
 
 QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
 SECURITIES
EXCHANGE ACT OF 1934
 
 For the
Quarterly period ended March 31, 2007
 
 Commission
File No. 0-52631
 
 GREEN ENERGY HOLDING
CORP.
 (Exact
Name of Small Business Issuer as specified in its charter)
  Nevada
              52-2404983(State
      or other jurisdiction
              (IRS
      Employer File Number)of
      incorporation)
 
 9600 East
Arapahoe Road
 Suite
260
 Englewood,
Colorado 80112
 (Address
of principal executive offices) (zip code)
 
 
 (303)
790-8503
 (Registrant's
telephone number, including area code)
 
 
 Check
whether the issuer: (1) filed all reports required to be filed by Section 13 or
15(d) of the Exchange Act during the past 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 whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act) Yes [ ] No [X]
 
 As of May
1, 2007, registrant had outstanding 5,641,041 shares of the registrant's common
stock. The aggregate market value of the voting stock held by nonaffiliates
computed by reference to the price at which the stock was sold, or the average
bid and asked prices of such stock, as and the aggregate market value of such
shares held by non-affiliates of the registrant (based upon the closing bid
price of such shares as listed on the OTC Bulletin Board on May 14, 2007) was
approximately $1,570,000.
  Transitional
Small Business Disclosure Format (check one): Yes [ ] No [X]
   
  
 
 FORM 10-QSB
 GREEN ENERGY HOLDING
CORP.
 
 TABLE OF CONTENTS
 
 
 PagePART
      I FINANCIAL INFORMATIONItem
      1. Financial Statements for the period ended March 31, 2007
              4Consolidated
      Balance Sheet(Unaudited)
              5Consolidated
      Statements of Operations (Unaudited)
              6Consolidated
      Statements of Cash Flows (Unaudited)
              7Item
      2. Management's Discussion and Analysis and Plan of Operation
              10Item
      3. Controls and Procedures
              25PART
      II OTHER INFORMATIONItem
      1. Legal Proceedings
              25Item
      2. Changes in Securities
              25Item
      3. Defaults Upon Senior Securities
              25Item
      4. Submission of Matters to a Vote of Security Holders
              25Item
      5. Other Information
              25Item
      6. Exhibits and Reports on Form 8-K
              25Signatures
              27


- 2 -






Green Energy
Holding Corp.
 Financial
Statements
 (Unaudited)
 
 
  - 3 -




PART I FINANCIAL
INFORMATION
 
 References
in this document to "us," "we," or "Company" refer to GREEN ENERGY HOLDING CORP.
and its subsidiary.
  
 ITEM 1.
FINANCIAL STATEMENTS




GREEN ENERGY HOLDING
CORP.


(A
Development Stage Company)





BALANCE SHEET


(Unaudited)




Mar. 31,
      2007ASSETSCurrent
      assetsCash
            
            $
            238Total current
      assets
            
            
            238Fixed
      assets
            
            
            1,120Accumulated
      depreciation
            
            
            (564
            )556Total
    Assets
            
            $
            794LIABILITIES & STOCKHOLDERS'
      EQUITYCurrent
      liabilitiesAccrued
      payables
            
            $
            20,130Related party
      payables
            
            
            70,200Notes
      payable - related party
            
            
            13,000Total current
      liabilties
            
            
            103,330Total
      Liabilities
            
            
            103,330Stockholders'
      EquityPreferred
      stock, $.10 par value;1,000,000
      shares authorized;none
      issued and outstanding
            
            
            -Common
      stock, $.001 par value;50,000,000
      shares authorized;5,641,041
      shares issued and outstanding
            
            
            5,641Additional
      paid in capital
            
            
            571,101Deficit
      accumulated during the development stage
            
            
            (679,278
            )Total Stockholders'
      Equity
            
            
            (102,536
            )Total Liabilities and
      Stockholders' Equity
            
            $
            794








The
accompanying notes are an integral part of the financial
statements.


- 4 -


GREEN ENERGY HOLDING
CORP.


(A
Development Stage Company)





STATEMENTS OF
OPERATIONS


(Unaudited)





Oct. 14,
      2003(Inception
      ofThree
    Months
            
            Three
    Months
            
            Nine
    Months
            
            Nine
    Months
            
            Dev.
    Stage)Ended
            
            Ended
            
            Ended
            
            Ended
            
            ThroughMar. 31,
      2006
            
            Mar. 31,
      2007
            
            Mar. 31,
      2006
            
            Mar. 31,
      2007
            
            Mar. 31,
      2007Revenue
            
            $
            -
            
            $
            10,000
            
            $
            -
            
            $
            10,000
            
            $
            10,000Operating
      expenses:Depreciation
            
            
            56
            
            
            56
            
            
            168
            
            
            168
            
            
            564Research and
      development
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            307General and
      administrative
            
            
            51,893
            
            
            36,862
            
            
            131,717
            
            
            136,620
            
            
            671,884Write-offs
            
            
            
            
            
            
            
            
            10,621
            
            
            
            
            
            10,62151,949
            
            
            36,918
            
            
            142,506
            
            
            136,788
            
            
            683,376Income
      (loss) from operations
            
            
            (51,949
            )
            
            (26,918
            )
            
            (142,506
            )
            
            (126,788
            )
            
            (673,376
            )Other
      income (expense):Interest
      income
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            621Interest
      expense
            
            
            (840
            )
            
            (568
            )
            
            (1,963
            )
            
            (1,812
            )
            
            (6,523
            )(840
            )
            
            (568
            )
            
            (1,963
            )
            
            (1,812
            )
            
            (5,902
            )Income
      (loss) before provisionfor income taxes
            
            
            (52,789
            )
            
            (27,486
            )
            
            (144,469
            )
            
            (128,600
            )
            
            (679,278
            )Provision
      for income tax
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -Net income
      (loss)
            
            $
            (52,789
            )
            $
            (27,486
            )
            $
            (144,469
            )
            $
            (128,600
            )
            $
            (679,278
            )Net income (loss) per
      share(Basic
      and fully diluted)
            
            $
            (0.01
            )
            $
            (0.00
            )
            $
            (0.03
            )
            $
            (0.02
            )Weighted
      average number ofcommon
      shares outstanding
            
            
            5,267,000
            
            
            5,641,041
            
            
            5,179,556
            
            
            5,641,041







The
accompanying notes are an integral part of the financial
statements.


- 5 -


GREEN ENERGY HOLDING
CORP.


(A
Development Stage Company)





STATEMENTS OF CASH
FLOWS


(Unaudited)











Oct. 14,
      2003(Inception
      ofNine
    Months
            
            Nine
    Months
            
            Dev.
    Stage)Ended
            
            Ended
            
            ThroughMar. 31,
      2006
            
            Mar. 31,
      2007
            
            Mar. 31,
      2007Cash Flows From Operating
      Activities:Net
      income (loss)
            
            $
            (144,469
            )
            $
            (128,600
            )
            $
            (679,278
            )Adjustments to
      reconcile net loss tonet
      cash provided by (used for)operating
      activities:Depreciation
            
            
            168
            
            
            168
            
            
            564Accrued
      payables
            
            
            4,098
            
            
            12,581
            
            
            61,156Receivables
            
            
            
            
            
            
            
            
            (621
            )Related party
      payables
            
            
            (6,526
            )
            
            34,153
            
            
            29,174Write-offs
            
            
            10,621
            
            
            
            
            
            10,621Compensatory
      stock issuances
            
            
            
            
            
            13,501
            
            
            13,851Net cash provided by (used
      for)operating
      activities
            
            
            (136,108
            )
            
            (68,197
            )
            
            (564,533
            )Cash Flows From Investing
      Activities:Fixed
      assets
            
            
            
            
            
            
            
            
            (1,120
            )Loans
            
            
            
            
            
            
            
            
            (10,000
            )Net cash provided by (used for)investing
      activities
            
            
            -
            
            
            -
            
            
            (11,120
            )






(Continued
On Following Page)





The
accompanying notes are an integral part of the financial
statements.


- 6 -


GREEN ENERGY HOLDING
CORP.


(A
Development Stage Company)





STATEMENTS OF CASH
FLOWS


(Unaudited)





(Continued
From Previous Page)








Oct. 14,
      2003(Inception
      ofNine
    Months
            
            Nine
    Months
            
            Dev.
    Stage)Ended
            
            Ended
            
            ThroughMar. 31,
      2006
            
            Mar. 31,
      2007
            
            Mar. 31,
      2007Cash Flows From Financing
      Activities:Notes
      payable related party - borrowings
            
            
            20,000
            
            
            
            
            
            60,000Notes
      payable related party - payments
            
            
            
            
            
            
            
            
            (47,000
            )Sales
      of common stock
            
            
            121,500
            
            
            43,000
            
            
            552,891Option
      issuance
            
            
            
            
            
            
            
            
            10,000Net cash provided by (used
      for)financing
      activities
            
            
            141,500
            
            
            43,000
            
            
            575,891Net Increase (Decrease) In
      Cash
            
            
            5,392
            
            
            (25,197
            )
            
            238Cash At The Beginning Of The
      Period
            
            
            2,124
            
            
            25,435
            
            
            -Cash At The End Of The
      Period
            
            $
            7,516
            
            $
            238
            
            $
            238Schedule
      Of Non-Cash Investing And Financing ActivitiesIn
      2006 the Company issued 500,000 shares of common stock for assets recorded
      at $0.Supplemental
      DisclosureCash
      paid for interest
            
            $
            789
            
            $
            1,032
            
            $
            4,090Cash
      paid for income taxes
            
            $
            -
            
            $
            -
            
            $
            -








The
accompanying notes are an integral part of the financial
statements.





- 7 -


GREEN ENERGY HOLDING
CORP.
 NOTES TO FINANCIAL
STATEMENTS
 (Unaudited)
 
 NOTE 1. ORGANIZATION, OPERATIONS AND
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 
 Green
Energy Holding Corp. (the “Company”), was incorporated in the State of Nevada on
November 30, 2006 as a successor corporation to Green Energy Corp. which was
incorporated in the State of Colorado on October 14, 2003. Green Energy Corp.
acquired Green Energy Holding Corp. on December 18, 2006. The Company is a
holding corporation currently exploring various opportunities in the energy
area.
 
 Basis of
Presentation
 
 The
accompanying unaudited financial statements have been prepared in accordance
with the instructions to Form 10-QSB and do not include all of the information
and disclosures required by generally accepted accounting principles for
complete financial statements. All adjustments which are, in the opinion of
management, necessary for a fair presentation of the results of operations for
the interim periods have been made and are of a recurring nature unless
otherwise disclosed herein. The results of operations for such interim periods
are not necessarily indicative of operations for a full year.
 
 Cash and cash
equivalents
 
 The
Company considers all highly liquid investments with an original maturity of
three months or less as cash equivalents.
 
 Accounts
receivable
 
 The
Company reviews accounts receivable periodically for collectability and
establishes an allowance for doubtful accounts and records bad debt expense when
deemed necessary. At March 31, 2007 the Company had no balance in its allowance
for doubtful accounts.
 
 Property and
equipment
 
 Property
and equipment are recorded at cost and depreciated under accelerated methods
over each item's estimated useful life, which is five years for vehicles,
computers and other items.
 
 Revenue
recognition
 
 Revenue
is recognized on an accrual basis after services have been performed under
contract terms, the event price to the client is fixed or determinable, and
collectibility is reasonably assured. Standard contract policy calls for partial
payment up front with balance due upon receipt of final billing.
 
 
 - 8 -
 
 GREEN ENERGY HOLDING
CORP.
 NOTES TO FINANCIAL
STATEMENTS
 (Unaudited)
 
 
 NOTE 1. ORGANIZATION, OPERATIONS AND
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued):
 
 Use of
Estimates
 
 The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. Actual results
could differ from those estimates.
 
 Income
tax
 
 The
Company accounts for income taxes under Statement of Financial Accounting
Standards No. 109 (“SFAS 109”). Under SFAS 109 deferred taxes are provided on a
liability method whereby deferred tax assets are recognized for deductible
temporary differences and operating loss carryforwards and deferred tax
liabilities are recognized for taxable temporary differences. Temporary
differences are the differences between the reported amounts of assets and
liabilities and their tax bases. Deferred tax assets are reduced by a valuation
allowance when, in the opinion of management, it is more likely than not that
some portion or all of the deferred tax assets will not be realized. Deferred
tax assets and liabilities are adjusted for the effects of changes in tax laws
and rates on the date of enactment.
 
 Net income (loss) per
share
 
 The net
income (loss) per share is computed by dividing the net income (loss) by the
weighted average number of shares of common outstanding. Warrants, stock
options, and common stock issuable upon the conversion of the Company's
preferred stock (if any), are not included in the computation if the effect
would be anti-dilutive and would increase the earnings or decrease loss per
share.
 
 Financial
Instruments
 
 The
carrying value of the Company’s financial instruments, including cash and cash
equivalents and accrued payables, as reported in the accompanying balance sheet,
approximates fair value.
   - 9 -
 
  ITEM 2. MANAGEMENT'S DISCUSSION AND
ANALYSIS AND PLAN OF OPERATION
 
 The
following discussion of our financial condition and results of operations should
be read in conjunction with, and is qualified in its entirety by, the
consolidated financial statements and notes thereto included in, Item 1 in this
Quarterly Report on Form 10-QSB. This item contains forward-looking statements
that involve risks and uncertainties. Actual results may differ materially from
those indicated in such forward-looking statements.
 
 Forward-Looking
Statements
 
 This
Quarterly Report on Form 10-QSB and the documents incorporated herein by
reference contain forward-looking. Such forward-looking statements are based on
current expectations, estimates, and projections about our industry, management
beliefs, and certain assumptions made by our management. Words such as
"anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates",
variations of such words, and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties, and assumptions
that are difficult to predict; therefore, actual results may differ materially
from those expressed or forecasted in any such forward-looking statements.
Unless required by law, we undertake no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events, or otherwise. However, readers should carefully review the risk factors
set forth herein and in other reports and documents that we file from time to
time with the Securities and Exchange Commission, particularly the Report on
Form 10-KSB, Form 10-QSB and any Current Reports on Form 8-K.
 
 Risk
Factors
 
 Risks Related to Our Business and
Industry
 
 We have a limited operating
history.
  We began operations in October 2003. Since the inception of our current business
operations, we have been engaged in organizational activities, including
developing a strategic operating plan, entering into contracts, hiring
personnel, developing processing technology, raising private capital and seeking
acquisitions. We have no production facilities. Accordingly, we have a limited
relevant operating history upon which an evaluation of our performance and
future prospects can be made.
  We have had a history of net
losses.
 
 We
incurred net losses of $27,486 for the fiscal quarter ended March 31, 2007,
$128,600 for the nine months ended March 31, 2007 and a total of
$679,278 from inception through March 31,2007. At March 31,2007, we
reported a stockholders’ deficit of $102,536. We have been funding our
operations primarily through the sale of our securities and loans from our major
shareholder and expect to continue doing so for the foreseeable future. We
expect to continue to incur net losses for the foreseeable future as we continue
to further develop our technologies. Our ability to generate and sustain
significant additional revenues or achieve profitability will depend upon the
factors discussed elsewhere in this “Risk Factors” section. We cannot assure you
that we will achieve or sustain profitability or that our operating losses will
not increase in the future. If we do achieve profitability, we cannot be certain
that we can sustain or increase profitability on a quarterly or annual basis in
the future.
 
 
 - 10 -
 
 Because we have a history of losses
and have a working capital deficit, our accountants have expressed doubts about
our ability to continue as a going concern.
 
 For
the fiscal year ended December 31, 2006, our accountants have expressed doubt
about our ability to continue as a going concern as a history of losses and a
working capital deficit. Our ability to achieve and maintain profitability and
positive cash flow is dependent upon:
 
 ■
                our
      ability to locate projects which will use our licensed technology;
      and
 
 ■
                our
      ability to generate revenues from this and other technology which we may
      acquire..
 
 Based
upon current plans, we expect to incur operating losses in future periods
because we will be incurring expenses and not generating sufficient
revenues. We expect our operating costs to range between $100,000 and
$120,000 for the year ending December 31, 2007. We cannot guarantee
that we will be successful in generating sufficient revenues or other funds in
the future to cover these operating costs. Failure to generate sufficient
revenues will cause us to go out of business.
  We will be forced to continue to
borrow money from our shareholder , Pinnacle Resources,Inc. until at least
December 2007, which will increase our debt and make repayment more
difficult.
  Because
it is expected that our business will not generate substantial revenues in 2007,
we will be required to continue to borrow money from our shareholder , Pinnacle
Resources, Inc.  , to
finance operations. Pinnacle Resources, Inc.  has
committed to funding our working capital needs until December 2007, but our
increased debt to it could make repayment more difficult.
  If we default in the repayment of
advances owed our our shareholder , Pinnacle Resources,Inc, we could be unable
to continue as a viable business.
 
 As
of December 31, 2006, we owed our our shareholder , Pinnacle
Resources,Inc . , $36,047
including accrued interest. Repayment of our debt to our shareholder , Pinnacle
Resources,Inc, which accrues interest at 8% per annum, is unsecured. Principal
and interest on our debt to Pinnacle Resources,Inc. is currently due. If our
shareholder , Pinnacle Resources, Inc demands payment and we default, we could
be unable to continue as a viable business..
 
 Our biomass-to syngas -technology is
unproven on a large-scale commercial basis and could fail to perform in a
commercial production environment.
 
 Technologies
for production of syngas from biomass are still in a development stage. The
technologies which we are pursuing for syngas production from biomass have never
been utilized on a large-scale commercial basis. All of the tests which we have
conducted to date with respect to our biomass technologies, have been
performed on limited quantities of feedstocks, and we cannot assure you that the
same or similar results could be obtained at competitive costs on a large-scale
commercial basis. We have never utilized these biomass technologies under the
conditions or in the volumes that will be required to be profitable and cannot
predict all of the difficulties that may arise. It is possible that the
technologies, when used, may require further research, development, design and
testing prior to implementation of a larger-scale commercial application.
Accordingly, we cannot assure you that these technologies will perform
successfully on a large-scale commercial basis or that they will be profitable
to us.
 
 - 11 -
 
  We will need to raise additional
funds in order to achieve our business objectives.
 
 As
of  March 31, 2007, we had cash of $238 . We will need
significant capital expenditures and investments over the next twelve
months related to our growth program.  We are also currently
evaluating several sites to construct new syngas facilities. We do not plan to
use a portion of our current cash to fund these site acquisitions or
provide seed equity for the projects while we analyze financing options. We will
use additional loans from Pinnacle Resources and will cash on hand to fund
corporate overhead and opportunistically invest in technology and research and
development.
  We
are currently in discussions with several intermediaries, advisors and investors
to structure and raise the funds to optimally finance potential projects. We are
evaluating debt and equity placements at the corporate level as well as project
specific capital opportunities. At the present time, except for Pinnacle
Resources, Inc., have no commitments for any additional financing, and there can
be no assurance that, if needed, additional capital will be available to use on
commercially acceptable terms or at all. Our failure to raise capital as needed
would significantly restrict our growth and hinder out ability to compete. We
may need to curtail expenses, reduce planned investments in technology and
research and development and forgo business opportunities. Additional equity
financings are likely to be dilutive to holders of our common stock and debt
financing, if available, may involve significant payment obligation and
covenants that restrict how we operate our business.
 
 Strategic acquisitions could have a
dilutive effect on your investment. Failure to make accretive acquisitions and
successfully integrate them could adversely affect our future financial
results.
 
 As
part of our growth strategy, we will seek to acquire or invest in complementary
(including competitive) businesses, facilities or technologies and enter into
co-location joint ventures. Our goal is to make such acquisitions, integrate
these acquired assets into our operations and reduce operating expenses. The
process of integrating these acquired assets into our operations may result in
unforeseen operating difficulties and expenditures, and may absorb significant
management attention that would otherwise be available for the ongoing
development of our business. We cannot assure you that the anticipated benefits
of any acquisitions will be realized. In addition, future acquisitions by us
could result in potentially dilutive issuances of equity securities, the
incurrence of debt and contingent liabilities and amortization expenses related
to goodwill and other intangible assets, any of which can materially and
adversely affect our operating results and financial position. As of January 1,
2007, we have issued no shares of our common stock in connection with strategic
acquisitions. Acquisitions also involve other risks, including entering
geographic markets in which we have no or limited prior experience and the
potential loss of key employees.
  We
may also seek to enter into joint ventures to construct and operate facilities
to manufacture syngas. Those facilities may be managed by us or by our
co-venturers. If those facilities are managed by our co-venturers, we may have
little or no control over their success. In any event, the construction and
operation of those facilities could entail unforeseen difficulties and
expenditures, and may absorb significant management attention that would
otherwise be available for the ongoing development of our business. We cannot
assure you that the anticipated benefits of any such joint ventures will be
realized. The formation and operation of such joint ventures could also require
the expenditure of our funds and require us to incur debt and other liabilities,
which could materially and adversely affect our operating results or financial
position.
 
 
 - 12 -
 
 The success of our business depends,
in part, upon proprietary technologies and information which may be difficult to
protect and may infringe on the intellectual property rights of third
parties.
  We
believe that the identification, acquisition and development of proprietary
technologies are key drivers of our business. Our success depends, in part, on
our ability to obtain patents, license the patents of others, maintain the
secrecy of our proprietary technology and information, and operate without
infringing on the proprietary rights of third parties. We currently license a
number of issued United States patents. We cannot assure you that the patents of
others will not have an adverse effect on our ability to conduct our business,
that the patents that we license will provide us with competitive advantages or
will not be challenged by third parties, that we will develop additional
proprietary technology that is patentable or that any patents issued to us will
provide us with competitive advantages or will not be challenged by third
parties. Further, we cannot assure you that others will not independently
develop similar or superior technologies, duplicate elements of our biomass
technology or design around it.
  In order to successfully commercialize our proprietary technologies, it is
possible that we may need to acquire licenses to, or to contest the validity of,
issued or pending patents or claims of third parties. We cannot assure you that
any license acquired under such patents would be made available to us on
acceptable terms, if at all, or that we would prevail in any such contest. In
addition, we could incur substantial costs in defending ourselves in suits
brought against us for alleged infringement of another party’s patents or in
defending the validity or enforceability of our patents, or in bringing patent
infringement suits against other parties based on our patents.
  In addition to the protection afforded by patents, we also rely on trade
secrets, proprietary know-how and technology that we seek to protect, in part,
by confidentiality agreements with our prospective joint venture partners,
employees and consultants. We cannot assure you that these agreements will not
be breached, that we will have adequate remedies for any such breach, or that
our trade secrets and proprietary know-how will not otherwise become known or be
independently discovered by others.
  We are dependent upon our officers
and key personnel and the loss of any of these persons could adversely affect
our operations and results.
  We
believe that the implementation of our proposed expansion strategy and execution
of our business plan will depend to a significant extent upon the efforts and
abilities of our officers and key personnel. Because the syngas and biomass
industries are relatively small, we believe that the personal contacts of our
officers and key personnel within the industry and within the scientific
community engaged in related research are a significant factor in our continued
success. Our failure to retain our officers or key personnel, or to attract and
retain additional qualified personnel, could adversely affect our operations and
results. We do not currently carry key-man life insurance on any of our
officers.
 
 
 - 13 -
 
 Because we are smaller and have
fewer financial and other resources than many syngas companies, we may not be
able to successfully compete in the very competitive syngas
industry.
 
 Syngas
is a commodity. There is significant competition among existing syngas
producers. Our business faces competition from a number of producers that can
produce significantly greater volumes of syngas than we can or expect to
produce, producers that can produce a wider range of products than we can, and
producers that have the financial and other resources that would enable them to
expand their production rapidly if they chose to. These producers may be able to
achieve substantial economies of scale and scope, thereby substantially reducing
their fixed production costs and their marginal productions costs. If these
producers are able to substantially reduce their marginal production costs, the
market price of syngas may decline and we may be not be able to produce syngas
at a cost that allows us to operate profitably. Even if we are able to operate
profitably, these other producers may be substantially more profitable than us,
which may make it more difficult for us to raise any financing necessary for us
to achieve our business plan and may have a materially adverse effect on the
market price of our common stock.
  If syngas prices drop significantly,
we will also be forced to reduce our prices, which potentially may lead to
further losses.
  Prices
for syngas products can vary significantly over time and decreases in price
levels could adversely affect our profitability and viability. We cannot assure
you that we will be able to sell our syngas profitably, or at all.
  Increased alternative energy
production in the United States could increase the demand for feedstocks and the
resulting price of feedstocks, reducing our
profitability.
  New alternative energy  plants
are under construction throughout the United States. This increased production
from alternative energy sources such as syngas and ethanol could increase
feedstock demand and prices, resulting in higher production costs and lower
profits.
  Price increases or interruptions in
needed energy supplies could cause loss of customers and impair our
profitability.
  Syngas production requires a constant and consistent supply of energy. If there
is any interruption in our supply of energy for whatever reason, such as
availability, delivery or mechanical problems, we may be required to halt
production. If we halt production for any extended period of time, it will have
a material, adverse effect on our business. Natural gas and electricity prices
have historically fluctuated significantly. We purchase significant amounts of
these resources as part of our syngas production. Increases in the price of
natural gas or electricity would harm our business and financial results by
increasing our energy costs.
  Risks Related to Government
Regulation and Subsidization
  The United States alternative energy
industry is highly dependent upon federal and state legislation and regulation
and any changes in that legislation or regulation could materially adversely
affect our results of operations and financial
condition.
 
 
 - 14 -
 
 The elimination or significant
reduction in the federal tax incentive could have a material adverse effect on
our results of operations
  The cost
of producing ethanol has historically been significantly higher than the market
price of gasoline. The production of ethanol is made significantly more
competitive by federal tax incentives. The federal excise tax incentive program,
which is scheduled to expire on December 31, 2010, allows gasoline
distributors who blend ethanol with gasoline to receive a federal excise tax
rate reduction for each blended gallon they sell regardless of the blend rate.
The current federal excise tax on gasoline is $0.184 per gallon, and is paid at
the terminal by refiners and marketers. If the fuel is blended with ethanol, the
blender may claim a $0.51 per gallon tax credit for each gallon of ethanol used
in the mixture. We cannot assure you, however, that the federal ethanol tax
incentives will be renewed in 2010 or if renewed, on what terms they will be
renewed. The elimination or significant reduction in the federal ethanol tax
incentive could have a material adverse effect on our results of
operations.
  Waivers of the minimum levels of
renewable fuels included in gasoline mandated by the Energy Policy Act of 2005
could have a material adverse affect on our results of
operations
  The
Energy Policy Act of 2005 established a renewable fuel standard, or RFS, of 7.5
billion gallons of renewable fuels to be included in gasoline. Under the Energy
Policy Act of 2005, the Department of Energy, in consultation with the Secretary
of Agriculture and the Secretary of Energy, may waive the RFS mandate with
respect to one or more states if the administrator determines that implementing
the requirements would severely harm the economy or the environment of a state,
a region or the United States, or that there is inadequate supply to meet the
requirement. In addition, the Department of Energy was directed under the Energy
Policy Act of 2005 to conduct a study by January 2006 to determine if the
RFS will have a severe adverse impact on consumers in 2006 on a national,
regional or state basis. Based on the results of the study, the Secretary of
Energy must make a recommendation to the EPA as to whether the RFS should be
waived for 2006. Any waiver of the RFS with respect to one or more states or
with respect to 2006 would adversely offset demand for ethanol and could have a
material adverse effect on our results of operations and financial
condition.
 
 While the Energy Policy Act of 2005
imposes a RFS, it does not mandate the use of ethanol and eliminates the
oxygenate requirement for reformulated gasoline in the RFG program included in
the Clean Air Act
  The RFG
program's oxygenate requirements contained in the Clean Air Act, which accounted
for approximately 1.95 billion gallons of ethanol use in 2004, was
completely eliminated on May 5, 2006 by the Energy Policy Act of 2005.
While the RFA expects that ethanol should account for the largest share of
renewable fuels produced and consumed under the RFS, the RFS is not limited to
ethanol and also includes biodiesel and any other liquid fuel produced from
biomass or biogas. We cannot assure you that the elimination of the oxygenate
requirement for reformulated gasoline in the RFG program included in the Clean
Air Act will not result in a decline in ethanol consumption, which in turn could
have a material adverse effect on our results of operations and financial
condition.
  - 15 -
 Certain countries can import ethanol
into the United States duty free, which may undermine the ethanol industry in
the United States
  Imported ethanol is generally subject to a $0.54 per gallon tariff and a 2.5% ad
valorem tax that was designed to offset the $0.51 per gallon ethanol subsidy
available under the federal excise tax incentive program for refineries that
blend ethanol in their fuel. There is a special exemption from the tariff for
ethanol imported from 24 countries in Central America and the Caribbean islands
which is limited to a total of 7.0% of United States production per year (with
additional exemptions for ethanol produced from feedstock in the Caribbean
region over the 7.0% limit). In May 2006, bills were introduced in both the U.S.
House of Representatives and U.S. Senate to repeal the $0.54 per gallon tariff.
We do not know the extent to which the volume of imports would increase or the
effect on United States prices for ethanol if this proposed legislation is
enacted or if the tariff is not renewed beyond its current expiration in
December 2007. In addition, under the North America Free Trade Agreement, Canada
and Mexico are exempt from this tariff. Imports from the exempted countries have
increased in recent years and are expected to increase further as a result of
new plants under development. In particular, the ethanol industry has expressed
concern with respect to a new plant under development by Cargill, Inc., the
fifth largest ethanol producer in the United States, in El Salvador that would
take the water out of Brazilian ethanol and then ship the dehydrated ethanol
from El Salvador to the United States duty-free. Since production costs for
ethanol in Brazil are estimated to be significantly less than what they are in
the United States, the import of the Brazilian ethanol duty free through El
Salvador or another country exempted from the tariff may negatively impact the
demand for domestic ethanol and the price at which we sell our
ethanol.
  Lax enforcement of environmental and
energy policy regulations may adversely affect the demand for
ethanol.
  Our success will depend, in part, on effective enforcement of existing
environmental and energy policy regulations. Many of our potential customers are
unlikely to switch from the use of conventional fuels unless compliance with
applicable regulatory requirements leads, directly or indirectly, to the use of
ethanol. Both additional regulation and enforcement of such regulatory
provisions are likely to be vigorously opposed by the entities affected by such
requirements. If existing emissions-reducing standards are weakened, or if
governments are not active and effective in enforcing such standards, our
business and results of operations could be adversely affected. Even if the
current trend toward more stringent emissions standards continues, our future
prospects will depend on the ability of ethanol to satisfy these emissions
standards more efficiently than other alternative technologies. Certain
standards imposed by regulatory programs may limit or preclude the use of our
products to comply with environmental or energy requirements. Any decrease in
the emission standards or the failure to enforce existing emission standards and
other regulations could result in a reduced demand for ethanol. A significant
decrease in the demand for ethanol will reduce the price of ethanol, adversely
affect our profitability and decrease the value of your stock.
 
 Costs of compliance with burdensome
or changing environmental and operational safety regulations could cause our
focus to be diverted away from our business and our results of operations to
suffer.
  Ethanol production involves the emission of various airborne pollutants,
including particulate matter, carbon monoxide, carbon dioxide, nitrous oxide,
volatile organic compounds and sulfur dioxide. Our proposed plants also will
discharge water into the environment. As a result, we are subject to complicated
environmental regulations of the U.S. Environmental Protection Agency and
regulations and permitting requirements of the various states. These regulations
are subject to change and such changes may require additional capital
expenditures or increased operating costs. Consequently, considerable resources
may be required to comply with future environmental regulations. We did not
incur any capital expenditures for environmental control in 2006 and we do
not currently expect to incur material capital expenditures for environmental
controls in this or the succeeding fiscal year. In addition, our ethanol plants
could be subject to environmental nuisance or related claims by employees,
property owners or residents near the ethanol plants arising from air or water
discharges. Ethanol production has been known to produce an unpleasant odor to
which surrounding residents could object. Environmental and public nuisance
claims, or tort claims based on emissions, or increased environmental compliance
costs could significantly increase our operating costs.
 
 - 16 -
 
 
  Our proposed new ethanol plants will also be subject to federal and state
laws regarding occupational safety. Risks of substantial compliance costs and
liabilities are inherent in ethanol production. We may be subject to costs and
liabilities related to worker safety and job related injuries, some of which may
be significant. Possible future developments, including stricter safety laws for
workers and other individuals, regulations and enforcement policies and claims
for personal or property damages resulting from operation of the ethanol plants
could reduce the amount of cash that would otherwise be available to further
enhance our business.
  Risks Related to an Investment in Our
Common Stock
  Our common stock price has
fluctuated considerably and stockholders may not be able to resell their shares
at or above the price at which such shares were
purchased.
  The market price of our common stock has fluctuated in the past, and may
continue to fluctuate significantly in response to factors, some of which are
beyond our control. For example, from December, 2004 through January 1, 2007,
the high and low bid or sales price for our common stock has been $1.80 and
$0.50 per share, respectively. Factors which could affect the market price of
our common stock include the following:
  ■
                our
      inability to manufacture syngas as efficiently as we expect due to factors
      related to costs and supply of feedstocks, energy or
  water,
  ■
                market
      factors affecting the demand for syngas such as price, competition and
      general economic conditions,
  ■
                discontinuation
      or limitations on state and federal alternative energy
      subsidies,
  ■
                negative
      public sentiment toward alternative energy production and use,
      and
  ■
                environmental
      restrictions increasing the costs and liabilities of alternative energy
      production.
  The stock
market in general has experienced extreme price and volume fluctuations. The
market prices of securities of fuel-related companies have experienced
fluctuations that often have been unrelated or disproportionate to the operating
results of these companies. Continued market fluctuations could result in
extreme volatility in the price of our common stock, which could cause a decline
in the value of our common stock. Price volatility might be intensified under
circumstances where the trading volume of our common stock is low.
  We may not be able to attract the
attention of major brokerage firms for research and support which may adversely
affect the market price of our common stock.
  Securities
analysts of major brokerage firms may not publish research on our common stock.
The number of securities competing for the attention of such analysts is large
and growing. Coverage of a security by analysts at major brokerage firms
increases the investing public’s knowledge of and interest in the issuer, which
may stimulate demand for and support the market price of the issuer’s
securities. The failure of major brokerage firms to cover our common stock may
adversely affect the market price of our common stock.
  
 - 17 -
 
 Future sales of common stock or
other dilutive events may adversely affect prevailing market prices for our
common stock.
 
 We are
currently authorized to issue up to 50,000,000 shares of common stock, of which
5,641,041 shares were issued and outstanding as of January 1, 2007. Our board of
directors has the authority, without further action or vote of our stockholders,
to issue any or all of the remaining authorized shares of our common stock that
are not reserved for issuance and to grant options or other awards to purchase
any or all of the shares remaining authorized. The board may issue shares or
grant options or awards relating to shares at a price that reflects a discount
from the then-current market price of our common stock. The options and awards
referred to above can be expected to include provisions that require the
issuance of increased numbers of shares of common stock upon exercise or
conversion in the event of stock splits, redemptions, mergers or other
transactions. The occurrence of any such event, the exercise of any of the
options or warrants described above and any other issuance of shares of common
stock will dilute the percentage ownership interests of our current stockholders
and may adversely affect the prevailing market price of our common
stock.
 
 A significant number of our shares
will be eligible for sale, and their sale could depress the market price of our
common stock.
 
 Sales of
a significant number of shares of our common stock in the public market could
harm the market price of our common stock. Virtually all shares of our common
stock may be offered from time to time in the open market, including the shares
offered pursuant to this prospectus. These sales may have a depressive effect on
the market for the shares of our common stock. Moreover, additional shares of
our common stock, including shares that have been issued in private placements,
may be sold from time to time in the open market pursuant to Rule 144. In
general, a person who has held restricted shares for a period of one year may,
upon filing with the SEC a notification on Form 144, sell into the market common
stock in an amount equal to the greater of 1% of the outstanding shares or the
average weekly number of shares sold in the last four weeks prior to such sale.
Such sales may be repeated at specified intervals.  Subject to satisfaction
of a two-year holding requirement, non-affiliates of an issuer may make sales
under Rule 144 without regard to the volume limitations and any of the
restricted shares may be sold by a non-affiliate after they have been held two
years. Sales of our common stock by our affiliates are subject to Rule
144.
  Failure to achieve and maintain
effective internal controls in accordance with Section 404 of the Sarbanes-Oxley
Act of 2002 could have a material adverse effect on our business and operating
results. In addition, as a consequence of such failure, current and potential
stockholders could lose confidence in our financial reporting, which could have
an adverse effect on our stock price.
 
 Effective
internal controls are necessary for us to provide reliable financial reports and
effectively prevent fraud. If we cannot provide reliable financial reports or
prevent fraud, we could be subject to regulatory action or other litigation and
our operating results could be harmed.
  Commencing
with our fiscal year beginning January 1, 2007, we will be required to document
and test our internal control procedures in order to satisfy the requirements of
Section 404 of the Sarbanes-Oxley Act of 2002, which requires our management to
annually assess the effectiveness of our internal controls over financial
reporting and, commencing with the fiscal year beginning January 1, 2008, our
independent registered public accounting firm to report on these assessments. In
connection with their audit of our financial statements for the fiscal year
ended December 31, 2005, our independent accountants notified us and our board
of directors that they had identified significant deficiencies that they
considered material weaknesses in our internal controls. The material weaknesses
related to the financial reporting process and segregation of duties. We have
augmented and continue to augment our internal controls procedures and expand
our accounting staff, but there is no guarantee that this effort will be
adequate.
 
 - 18 -
 
 
  During
the course of our testing, we may identify deficiencies which we may not be able
to remediate in time to meet the deadline imposed by the Sarbanes-Oxley Act for
compliance with the requirements of Section 404. In addition, if we fail to
maintain the adequacy of our internal accounting controls, as such standards are
modified, supplemented or amended from time to time, we may not be able to
ensure that we can conclude on an ongoing basis that we have effective internal
controls over financial reporting in accordance with Section 404. Failure to
achieve and maintain an effective internal control environment could cause us to
face regulatory action and also cause investors to lose confidence in our
reported financial information, either of which could have an adverse effect on
our stock price.
  Pinnacle Resources, Inc. and our
officers and directors have significant voting power and may take actions that
may not be in the best interest of all other
stockholders.
 
 Pinacle
Resources, Inc. and our officers and directors beneficially own approximately 21
% of our currently outstanding shares of common stock. If these stockholders act
together, they may be able to exert significant control over our management and
affairs requiring stockholder approval, including approval of significant
corporate transactions. This concentration of ownership may have the effect of
delaying or preventing a change in control and might adversely affect the market
price of our common stock. This concentration of ownership may not be in the
best interests of all our stockholders.
  Investors should not anticipate
receiving cash dividends on our common stock.
  We have
never declared or paid any cash dividends or distributions on our capital stock.
We currently intend to retain our future earnings to support operations and to
finance expansion and, therefore, we do not anticipate paying any cash dividends
on our common stock in the foreseeable future.
 
 We may issue shares of preferred
stock without stockholder approval that may adversely affect your rights as a
holder of our common stock.
 
 Our
certificate of incorporation authorizes us to issue up to 1,000,000 shares of
“blank check” preferred stock with such designations, rights and preferences as
may be determined from time to time by our board of directors. Accordingly, our
board of directors is empowered, without stockholder approval, to issue a series
of preferred stock with rights to receive dividends and distributions upon
liquidation in preference to any dividends or distributions upon liquidation to
holders of our common stock and with conversion, redemption, voting or other
rights which could dilute the economic interest and voting rights of our common
stockholders. The issuance of preferred stock could also be used as a method of
discouraging, delaying or preventing a change in control of our company or
making removal of our management more difficult, which may not be in your
interest as holders of common stock.
  Provisions in our articles of
incorporation and bylaws and under Nevada law could inhibit a takeover at a
premium price.
 
 As noted
above, our articles of incorporation authorizes us to issue up to 1,000,000
shares of “blank check” preferred stock with such designations, rights and
preferences as may be determined from time to time by our board of directors.
Our bylaws limit who may call a special meeting of stockholders and establish
advance notice requirements for nominations for election to our board of
directors or for proposing matters that can be acted upon at stockholder
meetings. Each of these provisions may have the effect to discouraging, delaying
or preventing a change in control of our company or making removal of our
management more difficult, which may not be in your interest as holders of
common stock.
 
 - 19 -
 
 
 Overview
 
 History
 
 GREEN
ENERGY CORP., a corporation organized under the laws of the State of Colorado
and referred to in this document as “Old Green Energy”, commenced operations in
2003 as a marketer of a specific gasification technology for commercial
applications to produce fuels and chemicals.
 
 On
November 20, 2003, Old Green Energy filed with the Colorado Division of
Securities (the "Division"), Denver, Colorado, a Limited Registration Offering
Statement under cover of Form RL pursuant to the Colorado Securities Code,
relating to a proposed offering of up to 1,800,000 Common Shares of the Company.
The Registration was declared effective by the Division on January 21, 2004. The
offering was closed on June 29, 2004. Old Green Energy raised $263,850 and sold
a total of 527,700 shares in the offering.
  In
December, 2006, Old Green Energy structured a transaction, which is commonly
referred to as a “change of domicile.” In connection with this transaction, a
new corporation was formed under the laws of the State of Nevada with the name
GREEN ENERGY HOLDING CORP. (the “Company”). Thereafter, Old Green Energy merged
into the Company, which became the surviving corporation. The stockholders of
the Company. received the same number of shares they previously held in Old
Green Energy. The Company succeeded to the business of Old Green Energy as its
sole line of business.
  Our Business
  We
are a marketer of a specific gasification technology for commercial
applications to produce fuels and chemicals. Old Green Energy was formed in
October, 2003 to capitalize on the growing market for alternative fuels and its
co-products. Old Green Energy was a biotechnology-driven company with the
primary goal of becoming a leader in the waste-to-alternative fuels industry.
Old Green Energy acquired a non-exclusive license to a specific technology for
the conversion of biomass to synthesis gas (“syngas”). The technology includes
the ability to produce a consistent, high-quality syngas product that can be
used for energy production or as a building block for other chemical
manufacturing processes.
 
 Gasification
is a technology that has been widely used in commercial applications for more
than fifty years in the production of fuels and chemicals. The Company believes
that current trends in the chemical manufacturing and petroleum refinery
industries indicate that use of gasification facilities to produce synthesis gas
will continue to increase. In addition, The Company believes that gasification
will begin to take a very significant role in the disposal of waste materials.
  
 - 20 -
 
 The
gasification process converts any carbon-containing material into a synthesis
gas composed primarily of carbon monoxide, hydrogen and methane, which can be
used as a fuel to generate electricity when combined with a steam engine or
generator unit or used as a basic chemical building block for a large number of
applications in the automotive fuels, petrochemical and refining industries.
Steam reforming gasification is a form of thermal decomposition in an
environment with limited or no oxygen. The concept is that material is
indirectly heated to very high temperatures, for example, 800degrees C, at which
point organic material decomposes into gases, “Syngas”, such as H2, CO, CO2,
CH4, and ash that may contain useful minerals. The product gas is separated from
the mineral ash using cyclones and gas cleaners. The product gas has a
combustion value similar to low grade natural gas and can be used to fuel a
generator or micro-turbine for the production of electricity. A benefit of this
process is that any bio-active compound, such as dioxins, furans, or viruses,
will be destroyed. The other process is to catalytically recombine these gases
to produce products such as methanol or ethanol. This is achieved by compressing
the gases and injecting them at high temperature into a matrix of molybdenum
sulfide for the production of methanol into iron silicon dioxide for the
production of ethanol. The fuels that are produced can be stored and
transported. Gasification adds value to low or negative-value feedstock by
converting them to marketable gases, fuels and chemical products. If the syngas
is to be used to produce electricity, it is typically used as a fuel in
reciprocating engine generator sets. Waste heat from the engine or the syngas
can also be used to fire a boiler to create steam to drive a turbine. Because
the Company believes this technology can create a lower carbon dioxide content
and a higher BTU value than existing gasification technologies, the Company
expects that the technology will have an advantage over competitors.
 
 The
technology will have the ability to treat a wide variety of gaseous, liquid, and
solid feedstock. Gasification customarily adds value to low or negative-value
feedstock by converting them to marketable fuels and products.  Conventional
fuels such as coal and oil, as well as low or negative value materials and waste
such as petroleum coke, heavy refinery residuals, secondary oil-bearing refinery
materials, municipal sewage sludge, hydrocarbon contaminated soils, and
chlorinated hydrocarbon byproducts have all been used in gasification
operations. The syngas can also be processed using commercially available
technologies to produce a wide range of products, such as fuels, chemicals,
fertilizer or industrial gases.
 
 The
technology as been field tested and demonstrated to work outside the laboratory.
Bio Conversion Technologies (BCT), who has licensed the technology to the
Company, conducted the tests. The relationship between the parties is strictly a
licensee-licensor relationship. Neither is an affiliate of the other. The
Company has obtained a non-exclusive license from BCT to use the technology for
the Company’s internal business purposes, including, but not limited to,
developing, building and operating projects, as well as entering into
sublicenses to do these activities. The Company has the right to identify,
install, and operate gasification and commercial production installations in the
Rocky Mountain States, which include Montana, Utah, Wyoming, Colorado, and New
Mexico.
 
 BCT
completed its first 15-ton per day bio-conversion plant. This plant is specially
designed to process wood chips, sawdust and other tree remains. Secondly, BCT
has also completed a 5-ton per day demonstration unit which is used as a test
unit for a variety of feedstocks. This test unit is located in the Denver
metropolitan area and is expected to remain there indefinitely. Additionally, in
early 2003, BCT built and shipped to North Carolina State University a one-ton
per day unit for treating pig waste. BCT’s test and demonstration system in
Denver can be utilized by the Company to demonstrate the use of feedstock for
conversion to electric power and or Syngas. The Company plans to utilize
consulting services of BCT for the purpose of analyzing projects and additional
uses of the system. BCT will work with the Company on a non-exclusive and
project by project basis to insure that qualified sources for product design,
engineering, construction and maintenance services are available for the
Company’s projects.
 
 
 - 21 -
 
 The
Company has not carried, and has no plans to carry, no substantial inventories
or accounts receivable. At the present time, other than the financing from
construction and permanent financing for specific gasification projects, the
Company has no plans to raise any additional funds within the next twelve
months. Any working capital will be expected to be generated from internal
operations. However, the Company reserves the right to examine possible
additional sources of funds, including, but not limited to, equity or debt
offerings, borrowings, or joint ventures. No independent market surveys have
ever been conducted to determine demand for the Company's products and services.
Therefore, there can be no assur-ance that any of its objectives will be
achieved.
  Our
growth strategy encompasses a multi-pronged approach which is geared at
ultimately developing production levels and lowering production costs, thereby
driving profitability. This approach is summarized as follows:
  ■
                Develop
      production capacity using our licensed technology;■
                Acquire
      dormant industrial facilities with adaptable infrastructure for conversion
      to alternative energy production;■
                Adopt
      a flexible feedstock approach to plant development enabling use of various
      feedstocks, where applicable;■
                Employ
      a sector strategy to expansion by focusing on the forests products
      industry, a prolific provider of biomass waste streams and an area where
      we believe we have significant technological advantages;
    and■
                Manufacture
      and market products for use with fuels other than syngas, such as a
      biodiesel and to produce and sell these products in certain U.S.
      territories.
  Our corporate headquarters are located at 9600 East Arapahoe Road, Suite 260,
Englewood, Colorado 80112 , and our
telephone number is (303) 790-8503. We do not currently have a
website.
 
 Results of
Operations
 
 Net Loss. We
incurred a net loss of $27,486 for the three months ended March 31, 2007
compared to a net loss of $52,789 for the three months ended March 31, 2006. We
incurred a net loss of $128,600 for the nine months ended March 31, 2007
compared to a net loss of $144,469 for the nine months ended March 31, 2006. We
incurred a net loss of $679,278 from inception through March 31, 2007.
 
 The net
loss for the three months ended March 31, 2007 and for the three months ended
March 31, 2006 results primarily from operating general and administrative
expenses . Our ability to achieve profitable operations is dependent on
developing revenue. Our expectations are that we will not begin to show
profitable operating results before December 2007; however, given the
uncertainties surrounding the timing of adding new capacity as well as
predicting gross margin, we cannot assure you that we will show profitable
results at any time.
 
 Revenue. We had
$10,000 in revenue for the three months ended March 31, 2007. Otherwise, we have
had no revenue since inception, including for the three months ended March 31,
2007.
 
 Operating
Expenses. We
incurred operating expenses of $36,918 for the three months ended March 31, 2007
compared to operating expenses of $51,949 for the three months ended March 31,
2006. We incurred operating expenses of $136,788 for the nine months ended March
31, 2007 compared to operating expenses of $142,506 for the nine months ended
March 31, 2006. We incurred operating expenses of $683,376 from inception
through March 31, 2007.
 
 - 22 -
 
 
 Our
operating expenses are comprised primarily of general and administrative
expenses. The primary components of general and administrative expenses are the
expenses of our corporate office, professional fees, general and administrative
expenses. The increase in operating expenses is directly related to the increase
in salaries during the relevant periods.
 
 Gross Profit
(Loss). We had
no gross profit since inception, including for the three months ended March 31,
2007.
 
 Research and
Development. Research
and development expenses have been negligible since inception.
 
 Liquidity and Capital
Resources
  As of
March 31, 2007, we had cash totaling $238.
 
 For the
nine months ended March 31, 2007, we had net cash of $68,197 used for operating
activities, compared to $136,108 for the nine months ended March 31, 2006. From
inception through March 31, 2007, we had net cash of $564,533 used for operating
activities.
 
 
 For the
nine months ended March 31, 2007, we had net cash of $43,000 provided by
financing activities, compared to $141,500 for the nine months ended March 31,
2006. From inception through March 31, 2007, we had net cash of $575,891
provided by financing activities. Most of the financing came from the sale of
common stock.
 
 We do not
anticipate significant capital expenditures and investments over the next 12
months. We are continuing to evaluate several opportunities to construct new
syngas facilities. We do not plan to use any of our current cash to fund these
site acquisitions. We will use additional loans from Pinnacle Resources and cash
on hand to fund corporate overhead.
  We are
currently in discussions with several intermediaries, advisors and investors to
structure and raise the funds to optimally finance various potential projects.
We are evaluating debt and equity placements at the corporate level as well as
project specific capital opportunities. At the present time, except for Pinnacle
Resources, Inc,, we have no commitments for any additional financing, and there
can be no assurance that, if needed, additional capital will be available to use
on commercially acceptable terms or at all. Our failure to raise capital as
needed would significantly restrict our growth and hinder out ability to
compete. We may need to curtail expenses, reduce investments in technology and
research and development and forgo business opportunities. Additional equity
financings are likely to be dilutive to holders of our common stock and debt
financing, if available, may involve significant payment obligation and
covenants that restrict how we operate our business.
  Off-Balance Sheet
Arrangements
  We have
not entered into any transactions with unconsolidated entities in which we have
financial guarantees, subordinated retained interests, derivative instruments or
other contingent arrangements that expose us to material continuing risks,
contingent liabilities or any other obligations under a variable interest in an
unconsolidated entity that provides us with financing, liquidity, market risk or
credit risk support.
  
 - 23 -
 
 Critical Accounting
Policies
 
 Our
discussion and analysis of results of operations and financial condition are
based upon our consolidated financial statements, which have been prepared in
accordance with accounting principles generally accepted in the United States of
America. The preparation of these consolidated financial statements requires us
to make estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets
and liabilities. We evaluate our estimates on an ongoing basis, including those
related to provisions for uncollectible accounts receivable, inventories,
valuation of intangible assets and contingencies and litigation. We base our
estimates on historical experience and on various other assumptions that are
believed to be reasonable under the circumstances, the results of which form the
basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources. Actual results may differ from
these estimates under different assumptions or conditions.
 
 The
accounting policies that we follow are set forth in Note 2 to our financial
statements as included in this prospectus. These accounting policies conform to
accounting principles generally accepted in the United States, and have been
consistently applied in the preparation of the financial
statements.
 
 Recently Issued Accounting
Pronouncements
  In
December 2004, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards ("SFAS") No. 123R "Share Based Payment." This
statement is a revision of SFAS No. 123, "Accounting for Stock-Based
Compensation" and supersedes APB Opinion No. 25, Accounting for Stock Issued to
Employees, and its related implementation guidance. SFAS No. 123R addresses all
forms of share based payment ("SBP") awards including shares issued under
employee stock purchase plans, stock options, restricted stock and stock
appreciation rights. Under SFAS No. 123R, SBP awards result in a cost that will
be measured at fair value on the awards' grant date, based on the estimated
number of awards that are expected to vest. This statement is effective for
public entities that file as small business issuers, as of the beginning of the
first interim or annual reporting period that begins after December 15, 2005. We
adopted this pronouncement during the first quarter of 2005.
 
 In
December 2004, the FASB issued SFAS No. 153, Exchanges of Non-monetary Assets -
An Amendment of APB Opinion No. 29. The amendments made by SFAS No. 153 are
based on the principle that exchanges of non-monetary assets should be measured
based on the fair value of the assets exchanged. Further, the amendments
eliminate the narrow exception for non-monetary exchanges of similar productive
assets and replace it with a broader exception for exchanges of non-monetary
assets that do not have "commercial substance." SFAS No. 153 is effective for
non-monetary asset exchanges occurring in fiscal periods beginning after June
15, 2005. The adoption of SFAS No. 153 on its effective date did not have a
material effect on our consolidated financial statements.
 
 In March
2005, the FASB issued Financial Interpretation No. 47, "Accounting for
Conditional Asset Retirement Obligations - an Interpretation of FASB Statement
No. 143", which specifies the accounting treatment for obligations associated
with the sale or disposal of an asset when there are legal requirements
attendant to such a disposition. We adopted this pronouncement in 2005, as
required, but there was no impact as there are no legal obligations associated
with the future sale or disposal of any assets.
 
 In May
2005, the FASB issued SFAS No. 154, "Accounting Changes and Error Corrections —
A Replacement of APB Opinion No. 20 and SFAS Statement No. 3". SFAS No. 154
changes the requirements for the accounting and reporting of a change in
accounting principle by requiring retrospective application to prior periods'
financial statements of the change in accounting principle, unless it is
impracticable to do so. SFAS No. 154 is effective for accounting changes and
corrections of errors made in fiscal years beginning after December 15, 2005. We
do not expect the adoption of SFAS No. 154 to have any impact on our
consolidated financial statements.
 
 - 24 -
 
 
 
 ITEM 3. CONTROLS AND
PROCEDURES
 
 As of the
end of the period covered by this Quarterly Report on Form 10-QSB, we evaluated
the effectiveness of the design and operation of its disclosure controls and
procedures (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e)
and 15d-15(e)). That evaluation was performed under the supervision and with the
participation of its management, including its Chief Executive Officer and its
Chief Financial Officer. Based on that evaluation, our Chief Executive Officer
and Chief Financial Officer concluded that the Company's disclosure controls and
procedures are effective to ensure that information required to be disclosed in
the reports we file or submit under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified by the SEC rules and
forms, and that such information is accumulated and communicated to our
management, including our certifying officer, to allow timely decisions
regarding the required disclosure. There was no change in internal control over
financial reporting identified in connection with the evaluation required under
paragraph (d) of Rules 13a-15 or 15d-15 during the period covered by this
Quarterly Report of Form 10-QSB that has materially affected or is reasonably
likely to materially affect our internal control over financial
reporting.
 
 PART II. OTHER
INFORMATION
 
 
 ITEM 1. LEGAL
PROCEEDINGS
 
 There are
no legal proceedings, to which we are a party, which could have a material
adverse effect on our business, financial condition or operating
results.
 
 
 ITEM 2. CHANGES IN
SECURITIES
 None
 
 
 ITEM 3. DEFAULTS UPON SENIOR
SECURITIES
 None
 
 
 ITEM 4. SUBMISSION OF MATTERS TO A
VOTE OF SECURITY HOLDERS
 None
 
 
 ITEM 5. OTHER
INFORMATION
 Not
Applicable
 
 
 
 - 25 -
 
 ITEM 6. EXHIBITS AND REPORTS ON FORM
8-K
 
 Exhibits
 3.1*
                  Articles
      of Incorporation3.2*
                  Bylaws21
      *
                  List
      of Subsidiaries.31.1
                  Certification
      of CEO pursuant to Sec. 30231.2
                  Certification
      of CFO pursuant to Sec. 30232.1
                  Certification
      of CEO pursuant to Sec. 90632.2
                  Certification
      of CFO pursuant to Sec. 906
  *
Previously filed under cover of Form SB-2 on February 27, 2007.
 
 (b)
Reports on Form 8-K.
 
 The
Company filed no reports on Form 8-K during the fiscal quarter ended March 31,
2007.
 
  - 26 -
 
 SIGNATURES
 
 Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
dully caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
  
 
 
 GREEN ENERGY HOLDING
      CORP.Date:
      May 13, 2008
                By:
                /s/
      Dennis C. MurphyDennis
      C. Murphy,Chief
      Executive Officer and President
                  (principal
      executive officer)
   Date:
      May 13, 2008
                By:
                /s/
      Robert A. HildebrandRobert
      A. Hildebrand,Chief
      Financial Officer
                  (principal
      financial and accounting officer)
  
 - 27 -