UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549





FORM 10-Q





(Mark One)[X]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended: September 30, 2010Or[  ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ____________ to _____________Commission File Number: 000-53563KRANEM CORPORATIONd/b/aLEARNINGWIRE.COM(Exact name of registrant as specified in its charter)Colorado
02-0585306(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)2700 Cherry Creek South Drive #406
Denver, CO 80209(Address of principal executive offices)
(Zip Code)(303) 592-1614(Registrant's telephone number, including area code)(Former name, former address and former fiscal year, if changed since last report)





Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that ht registrant was required to submit and post such files).  Yes [   ]   No [X]





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





Large accelerated filer  [   ]
Accelerated filer                   [   ]Non-accelerated filer    [   ]

(Do not check if a smaller reporting company)
Smaller reporting company  [X]





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


Yes [X]   No [   ]





Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:




Common Stock, $0.001 par value
4,267,125 shares(Class)
(Outstanding as at November 1, 2010)








KRANEM CORPORATION


d/b/a


LEARNINGWIRE.COM








Table of Contents











PagePART I – FINANCIAL INFORMATION
3Unaudited Financial Statements
3Balance Sheets
4Statements of Operations
5Statements of Cash Flows
6Notes to Financial Statements
7Management's Discussion and Analysis and Results of Operation
12Controls and Procedures
13PART II – OTHER INFORMATION
16Exhibits and Reports on Form 8-K
16SIGNATURES
17






































2


PART I – FINANCIAL INFORMATION





Unaudited Financial Statements





The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial reporting and pursuant to the rules and regulations of the Securities and Exchange Commission ("Commission").  While these statements reflect all normal recurring adjustments which are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the financial statements and footnotes thereto, which are included in the Company's Annual Report on Form 10-K, originally filed with the Commission on April 1, 2010.






























































3


Kranem Corporation


(dba Learningwire.com)


(A Development Stage Company)


Balance Sheets








September 30,


December 31,2010


2009(Unaudited)


(Audited)AssetsCurrent assets:Cash

$
161


$
-Total assets

$
161


$
-Liabilities and Stockholders’ DeficitCurrent liabilities:Accounts payable and accrued liabilities

$
13,742


$
15,492Indebtedness to related party


112,600



112,600Total current liabilities


126,342



128,092Total liabilities


126,342



128,092Stockholders’ deficit:Preferred stock, no par value; 10,000,000 shares authorized,no shares issued and outstanding


-



-Common stock, no par value; 50,000,000 shares authorized,4,267,125 shares issued and outstanding


74,230



74,230Additional paid-in capital


158,460



147,710Deficit accumulated during the development stage


(358,871
)


(350,032
)Total stockholders’ deficit


(126,181
)


(128,092
)Total liabilities and stockholders’ deficit

$
161


$
-























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








4


Kranem Corporation


(dba Learningwire.com)


(A Development Stage Company)


Statements of Operations


(Unaudited)








Three months ended


Nine Months Ended


From InceptionSeptember 30,


September 30,


(April 18, 2002) to2010


2009


2010


2009


September 30, 2010Revenue

$
-


$
-


$
-


$
-


$
6,703Expenses:Contract labor


-



-



-



-



21,435Contributed rent


-



3,750



-



11,250



100,000Depreciation


-



-



-



-



18,505General and administrative expenses


35



-



50



-



22,167Professional fees


1,500



800



8,789



6,870



100,287Rent


-



-



-



-



16,250Salaries


-



-



-



-



42,385Selling, advertising and marketing


-



187



-



749



44,555Total expenses


1,535



4,737



8,839



18,869



365,584Other income:Interest income


-



-



-



-



10Total other income


-



-



-



-



10Net loss

$
(1,535
)

$
(4,737
)

$
(8,839
)

$
(18,758
)

$
(358,871
)Weighted average number ofcommon shares outstanding – basic


4,267,125



4,267,125



4,267,125



4,267,125Net (loss) per share – basic

$
(0.00
)

$
(0.00
)

$
(0.00
)

$
(0.00
)





























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








5


Kranem Corporation


(dba Learningwire.com)


(A Development Stage Company)


Statements of Cash Flows


(Unaudited)








For the nine months ended


From InceptionSeptember 30,


(April 18, 2002) to2010


2009


September 30, 2010Operating activitiesNet loss

$
(8,839
)

$
(18,922
)

$
(358,871
)Adjustments to reconcile net loss tonet cash used by operating activities:Depreciation


-



-



18,505Contributed rent


-



11,250



100,000Changes in operating assets and liabilities:Increase in accounts payable and accrued expenses


(1,750
)


1,256



13,742Net cash used by operating activities


(10,589
)


(6,363
)


(226,624
)Investing activitiesPurchase of fixed assets


-



-



(18,505
)Net cash used by investing activities


-



-



(18,505
)Financing activitiesDonated capital


10,750



6,363



58,460Issuances of common stock


-



-



89,200Payments for offering costs


-



-



(14,970
)Increase in notes payable – related party


-



-



119,850Repayment of notes payable – related party


-



-



(7,250
)Net cash provided by financing activities


10,750



6,363



245,290Net increase in cash


161



-



161Cash – beginning


-



-



-Cash – ending

$
161


$
-


$
161Supplemental disclosures:Interest paid

$
-


$
-


$
-Income taxes paid

$
-


$
-


$
-











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





6


Kranem Corporation


(dba Learningwire.com)


(a Development Stage Company)


Notes to Financial Statements


(Unaudited)





Note 1 – Basis of presentation





The interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC).  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.





These statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein.  It is suggested that these interim financial statements be read in conjunction with the audited financial statements of the Company for the period ended December 31, 2009 and notes thereto included in the Company's annual report on Form 10-K.  The Company follows the same accounting policies in the preparation of interim reports.





Results of operations for the interim periods are not indicative of annual results.





Note 2 – History and organization of the company





The Company was organized April 18, 2002 (Date of Inception) under the laws of the State of Colorado, as Kranem Corporation.  The Company operates under its trade name, “Learningwire.com,” which is registered with the State of Colorado.  The Company is authorized to issue up to 50,000,000 shares of its common stock with no par value and up to 10,000,000 shares of preferred stock with no par value.





The Company previously offered high-quality, office and office supply products to businesses, educational institutions, government agencies and individuals through its website, www.learningwire.com.  The website enabled customers to research products, purchase products online, track orders and receive administrative support. The Company has ceased its on-line operations and currently has no revenue-producing activities.  The Company's current business plan is to evaluate, structure and complete a merger with, or acquisition of, a privately owned corporation.





The Company has limited operations and in accordance with FASB ASC 915-10, “Development Stage Entities,” the Company is considered a development stage company.





Note 3 - Going concern





The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern.  The Company had an accumulated deficit of $358,871 as of September 30, 2010.  The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.  If the Company is unable to obtain adequate capital, it could be forced to cease operations.





In order to continue as a going concern, the Company will need, among other things, additional capital resources.  The Company is contemplating conducting an offering of its debt or equity securities to obtain additional operating capital.  The Company is dependent upon its ability, and will continue to attempt, to secure equity and/or debt financing.  There are no assurances that the Company will be successful and without sufficient financing it would be unlikely for the Company to continue as a going concern.





7


Kranem Corporation


(dba Learningwire.com)


(a Development Stage Company)


Notes to Financial Statements


(Unaudited)





Note 3 - Going concern (continued)





The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations.  These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.





Note 4 – Accounting policies and procedures





Use of estimates


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





Loss per share


Net loss per share is provided in accordance with FASB ASC 260-10, “Earnings per Share”.  Basic loss per share is computed by dividing losses available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had no dilutive common stock equivalents, such as stock options or warrants as of September 30, 2010.





Recent Accounting Pronouncements


In January 2010, the FASB issued Accounting Standards Update (ASU) 2010-01, “Equity (Topic 505-10): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force)”.  This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and 260. This statement is effective for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis.  The Company does not expect the provisions of ASU 2010-01 to have a material effect on the financial position, results of operations or cash flows of the Company.





InJanuary 2010, the FASB issued Accounting Standards Update (ASU) 2010-02, “Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary”.  This amendment to Topic 810 clarifies, but does not change, the scope of current US GAAP.  It clarifies the decrease in ownership provisions of Subtopic 810-10 and removes the potential conflict between guidance in that Subtopic and asset derecognition and gain or loss recognition guidance that may exist in other US GAAP.  An entity will be required to follow the amended guidance beginning in the period that it first adopts FAS 160 (now included in Subtopic 810-10).  For those entities that have already adopted FAS 160, the amendments are effective at the beginning of the first interim or annual reporting period ending on or after December 15, 2009. The amendments should be applied retrospectively to the first period that an entity adopted FAS 160.  The Company does not expect the provisions of ASU 2010-02 to have a material effect on the financial position, results of operations or cash flows of the Company.











8


Kranem Corporation


(dba Learningwire.com)


(a Development Stage Company)


Notes to the Financial Statements


Unaudited





Note 4 – Accounting policies and procedures (continued)





Recent Accounting Pronouncements (continued)


In January 2010, the FASB issued Accounting Standards Update (ASU) 2010-6, “Improving Disclosures about Fair Value Measurements.” This update requires additional disclosure within the roll forward of activity for assets and liabilities measured at fair value on a recurring basis, including transfers of assets and liabilities between Level 1 and Level 2 of the fair value hierarchy and the separate presentation of purchases, sales, issuances and settlements of assets and liabilities within Level 3 of the fair value hierarchy. In addition, the update requires enhanced disclosures of the valuation techniques and inputs used in the fair value measurements within Levels 2 and 3. The new disclosure requirements are effective for interim and annual periods beginning after December 15, 2009, except for the disclosure of purchases, sales, issuances and settlements of Level 3 measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010. As ASU 2010-6 only requires enhanced disclosures, the Company does not expect that the adoption of this update will have a material effect on its financial statements.





In February 2010, the FASB issued Accounting Standards Update 2010-09 (ASU 2010-09), Subsequent Events (Topic 855), amending guidance on subsequent events to alleviate potential conflicts between FASB guidance and SEC requirements. Under this amended guidance, SEC filers are no longer required to disclose the date through which subsequent events have been evaluated in originally issued and revised financial statements. This guidance was effective immediately and we adopted these new requirements for the period ended June 30, 2010. The adoption of this guidance did not have a material impact on our financial statements.





In March 2010, the FASB issued ASU No. 2010-11, "Derivatives and Hedging (Topic 815): Scope Exception Related to Embedded Credit Derivatives" (codified within ASC 815 - Derivatives and Hedging). ASU 2010-11 improves disclosures originally required under SFAS No. 161. ASU 2010-11 is effective for interim and annual periods beginning after June 15, 2010. The adoption of ASU 2010-11 is not expected to have any material impact on our financial position, results of operations or cash flows.





In April 2010, the FASB issued ASU No. 2010-17, "Revenue Recognition - Milestone Method (Topic 605): Milestone Method of Revenue Recognition" (codified within ASC 605 - Revenue Recognition). ASU 2010-17 provides guidance on defining a milestone and determining when it may be appropriate to apply the milestone method of revenue recognition for research or development transactions. ASU 2010-17 is effective for interim and annual periods beginning after June 15, 2010. The adoption of ASU 2010-17 is not expected to have any material impact on our financial position, results of operations or cash flows.





In April 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-18 (ASU 2010-18), Receivables (Topic 310): Effect of a Loan Modification When the Loan is Part of a Pool That Is Accounted for as a Single Asset-a consensus of the FASB Emerging Task Force. The amendments in this Update are effective for modifications of loans accounted for within pools under Subtopic 310-30 occurring in the first interim or annual period ending on or after July 15, 2010.  The amendments are to be applied prospectively. Early application is permitted.  The Company does not expect the provisions of ASU 2010-18 to have a material effect on the financial position, results of operations or cash flows of the Company.





In April 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-15 (ASU 2010-15), Financial Services- Insurance (Topic 944): How Investments held through Separate Accounts Affect an Insurer's Consolidation Analysis of Those Investments-a consensus of the  FASB Emerging Issues Task Force.  The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2010.  Early adoption is permitted.  The amendments in this Update should be applied retrospectively to all prior periods upon the date of adoption.  The Company does not expect the provisions of ASU 2010-15 to have a material effect on the financial position, results of operations or cash flows of the Company.











9


Kranem Corporation


(dba Learningwire.com)


(a Development Stage Company)


Notes to the Financial Statements


Unaudited





Note 4 – Accounting policies and procedures (continued)





In May 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-19 (ASU 2010-19), Foreign Currency (Topic 830): Foreign Currency Issues: Multiple Foreign Currency Exchange Rates.  The amendments in this Update are effective as of the announcement date of March 18, 2010. The Company does not expect the provisions of ASU 2010-19 to have a material effect on the financial position, results of operations or cash flows of the Company.





In July 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-20 (ASU 2010-20), Receivables (Topic 310): Foreign Currency Issues: Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses.  For public entities, the disclosures as of the end of a reporting period are effective for interim and annual reporting periods ending on or after December 15, 2010.  The disclosures about activity that occurs during a reporting period are effecting for interim and annual reporting periods beginning on or after December 15, 2010.  The Company does not expect the provisions of ASU 2010-20 to have a material effect on the financial position, results of operations or cash flows of the Company.





The company evaluated all of the other recent accounting pronouncements through ASU 2010-20 and deemed that they would not have a material effect on the financial position, results of operations or cash flows of the Company.





Note 5 – Stockholders’ equity





The Company is authorized to issue 50,000,000 shares of its common stock, with no par value, and up to 10,000,000 shares of its preferred stock, with no par value.





During January 2004, the Company sold 2,250,000 shares of its no par value common stock to an officer for $10,000 ($0.004 per share).  The Company relied upon exemptions from registration believed by it to be available under federal and state securities laws in connection with the stock sale.





During January 2004, the Company sold 562,500 shares of its no par value common stock to one purchaser for $5,000 ($0.009 per share).  The Company relied upon exemptions from registration believed by it to be available under federal and state securities laws in connection with the stock sale.





During January and February 2004, the Company sold 966,375 shares of its no par value common stock for $0.04 per share pursuant to an exemption from registration claimed under Regulation D of the Securities Act of 1933, as amended.  The Company received net proceeds of $32,770 after deducting offering costs totaling $10,180.  The Company relied upon exemptions from registration believed by it to be available under federal and state securities laws in connection with the offering.





During February 2004, the Company sold 225,000 shares of its no par value common stock to an officer for $2,000 ($0.009 per share).  The Company relied upon exemptions from registration believed by it to be available under federal and state securities laws in connection with the stock sale.





During the period from April through June 2005, the Company sold 263,250 shares of its no par value common stock for $0.11 per share, pursuant to a Registration Statement on Form SB-2.  The Company received net proceeds of $24,460 after deducting offering costs totaling $4,790.





On November 11, 2005, the Company declared 4.5:1 common stock split to shareholders of record at the close of business on November 11, 2005.  The number of shares issued on November 11, 2005 totaled 3,318,875 and increased the number of common shares outstanding to 4,267,125.  Shares issued prior to November 11, 2005 have been retroactively restated to reflect the impact of the stock split.





10


Kranem Corporation


(dba Learningwire.com)


(a Development Stage Company)


Notes to the Financial Statements


Unaudited





Note 5 – Stockholders’ equity (continued)





Through the year ended December 31, 2006, affiliates of the Company contributed capital in the amount of $6,790.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





Through the year ended December 31, 2007, affiliates of the Company contributed capital in the amount of $18,600.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





Through the year ended December 31, 2008, affiliates of the Company contributed capital in the amount of $15,150.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





Through the year ended December 31, 2009, two non affiliates of the Company contributed capital in the amount of $7,170.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





From May 1, 2003 through December 31, 2009, a director contributed office space to the Company.  The office space is considered to be valued at $1,250 per month based on management’s estimate of the market rate in the local area and is included in the accompanying financial statements as contributed rent expense with a corresponding credit to additional paid-in capital.  As of December 31, 2009, the Company no longer utilizes this office space.  During the three and nine months ended September 30, 2010 and 2009, contributed rent was $0 and $3,750 and $0 and $11,250, respectively.  From inception (April 18, 2002) to September 30, 2010 contributed rent was $100,000.





Through the nine months ended September 30, 2010, two non affiliates of the Company contributed capital in the amount of $10,750.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





As of September 30, 2010, there have been no other issuances of common stock.





Note 6 – Warrants and options





As of September 30, 2010, there were no warrants or options outstanding to acquire any additional shares of common stock.





Note 7 – Related party transactions





During the year ended December 31, 2003, an employee advanced the Company $4,000 for working capital.  The advance was non-interest bearing and due on demand.  The Company repaid the advance during the year ended December 31, 2004.





During January 2004, the Company sold 2,250,000 shares of its no par value common stock to an officer for $10,000 ($0.004 per share).  The Company relied upon exemptions from registration believed by it to be available under federal and state securities laws in connection with the stock sale.





During February 2004, the Company sold 225,000 shares of its no par value common stock to an officer for $2,000 ($0.009 per share).  The Company relied upon exemptions from registration believed by it to be available under federal and state securities laws in connection with the stock sale.





During the three months ended March 31, 2005, an affiliate advanced the Company $3,200 for working capital.  The advances were non-interest bearing and due on demand.  The Company repaid the advances prior to June 30, 2005.











11


Kranem Corporation


(dba Learningwire.com)


(a Development Stage Company)


Notes to the Financial Statements


Unaudited





Note 7 – Related party transactions (continued)





During the period from April through June 2005, the Company sold 263,250 shares of its no par value common stock for $0.11 per share, pursuant to a Registration Statement on Form SB-2.  The Company received net proceeds of $24,460 after deducting offering costs totaling $4,790.





Through the year ended December 31, 2006, affiliates of the Company contributed capital in the amount of $6,790.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





During 2007, an affiliate advanced the Company $50 for working capital.  The advance was repaid during 2007.





Through the year ended December 31, 2007, affiliates of the Company contributed capital in the amount of $18,600.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





Through the year ended December 31, 2008, affiliates of the Company contributed capital in the amount of $15,150.  The entire amount was donated, is not expected to be repaid and is considered to be additional paid-in capital.





From May 1, 2003 through December 31, 2009, a director contributed office space to the Company.  The office space is considered to be valued at $1,250 per month based on management’s estimate of the market rate in the local area and is included in the accompanying financial statements as contributed rent expense with a corresponding credit to additional paid-in capital.  As of December 31, 2009, the Company no longer utilizes this office space.  During the three and nine months ended September 30, 2010 and 2009 and from inception (April 18, 2002) to September 30, 2010, contributed rent was $0 and $3,750, $0 and $11,250 and $100,000, respectively.





Since the inception of the Company on April 18, 2002, the Company has borrowed funds from a shareholder, who is also current President, CEO and director, for working capital.  At the year ended December 31, 2006, the Company was indebted to this affiliate in the amount of $112,600.  There were no additional proceeds received or payments against the liability during the years ended December 31, 2009 and 2008.  The advances are non-interest bearing and are due on demand.














12


Management's Discussion and Analysis and Results of Operation





Forward-Looking Statements





This Quarterly Report contains forward-looking statements about the Company’s business, financial condition and prospects that reflect management’s assumptions and beliefs based on information currently available.  We can give no assurance that the expectations indicated by such forward-looking statements will be realized.  If any of our management’s assumptions should prove incorrect, or if any of the risks and uncertainties underlying such expectations should materialize, the Company’s actual results may differ materially from those indicated by the forward-looking statements.





The key factors that are not within our control and that may have a direct bearing on operating results include, but are not limited to, acceptance of our services, our ability to expand our customer base, managements’ ability to raise capital in the future, the retention of key employees and changes in the regulation of our industry.





There may be other risks and circumstances that management may be unable to predict.  When used in this Quarterly Report, words such as,  "believes,""expects," "intends,""plans,""anticipates,""estimates"and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions.





Management’s Discussion and Analysis and Results of Operation





Kranem Corporation was formed on April 18, 2002 with the purpose of offering office supply products to businesses, educational institutions, government agencies and individuals.  However, we have been materially inactive since approximately 2006.  During the quarters ended September 30, 2010 and 2009, we did not generate any revenues.  Revenues from our inception to September 30, 2010 were $6,703.





In the three months ended September 30, 2010, total expenses were $1,535, composed of $35 in general and administrative expenses related to office expenditures and $1,500 in professional fees incurred in an effort to maintain our reporting status with the Securities and Exchange Commission.  In comparison, total expenses were $4,737 in the three month period ended September 30, 2009, made up of $3,750 in rent contributed by a director of the Company, $187 in selling, advertising and marketing expenses and $800 in professional fees related to accounting services provided during the period.





During the nine month period ended September 30, 2010, our total expenses were $8,839, consisting of $8,789 in professional fees and $50 in office expenses.  In the comparable nine months ended September 30, 2009, our total expenses were $18,869, of which $11,250 was in contributed rent expense, $6,870 in professional fees incurred and $749 in selling, advertising and marketing expenses.  The reduction in overall expenditures from 2009 to 2010 is related to the cessation of our arrangement with a director for the use of office space at a rate $1,250 per month, as well as the discontinued use of Internet hosting that was being billed to us at a rate of $187 per month.





Since our inception, aggregate expenses were $365,584.  We expect to continue to incur general and administrative expenses for the foreseeable future, although we cannot estimate the extent of these costs.





Due to our lack of revenues in recent periods, our net losses for the three months ended September 30, 2010 and 2009 were $1,535 and $4,737, respectively.  In the comparable nine month periods ended September 30, 2010 and 2009, we incurred net losses of $8,839 and $18,758, respectively.  Our net loss since inception was $358,871.  We are unable to predict if and when we will begin to generate revenues or stem our losses.  However, our management does anticipate ongoing losses for at least the next 12 months.  There is significant uncertainty projecting future profitability due to our relatively short operating period, our history of losses and lack of revenues.  No development related expenses have been or will be paid to any of our affiliates.  We expect to continue to incur general and administrative expenses for the foreseeable future, although we cannot estimate the extent of these costs.  We have no customers or any revenue streams, thus, we anticipate incurring net losses for the foreseeable future.





13


We are unable to predict if and when we will begin to generate revenues sufficient to stem our losses.  However, our management does anticipate ongoing losses for at least the next 12 months.  There is significant uncertainty projecting future profitability due to our relatively short operating period, our history of losses and lack of revenues.  To date, we had limited operations and minimal funds with which to finance our operations.  We have minimal assets, in the amount of $161, and have total liabilities in the amount of $126,342.  Thus, we are in a precarious financial position and rely exclusively upon capital obtained from affiliates and non-related parties.  As a result, our independent auditors have expressed substantial doubt about our ability to continue as a going concern in the independent auditors’ report to the financial statements included in our annual report.  If our business fails, our investors may face a complete loss of their investment.





Over the past three years, we have conducted minimal operations due to lack of focus and financing, as well as the general economy going into a recessionary state.  As of January 1, 2010, our management has concluded that the best course of action would be to raise capital through sales of our common equity for cash to reinvigorate our proposed business.  We have consulted with third parties to access financing up to approximately $500,000.  However, we have no binding or definitive agreements with any parties to raise any such funds, and as of the date of this quarterly report, we have not received any monies.  In the event we are able to secure operating capital, we intend to do the following:





1.
Reconstitute our arrangements with suppliers such as Ingram Micro and U.S. Stationers, with whom we had informal, non-exclusive relationships to acquire inventory.  We have not made any progress reestablishing contact with our prior suppliers and cannot provide assurances that we will be able to do so.





2.
Develop a marketing and advertising strategy with which to generate awareness of our company and proposed product lines to business and educational institutions.  Since we currently have no saleable inventory, or capital with which to develop a marketing strategy, we have made no attempts to achieve this milestone.





3.
Assemble a commissioned sales force initially in the Denver, Colorado area, with the goal to expand in to regions of Texas and Southern California.  Until we obtain sufficient financing to pursue our growth strategy, we have no products to sell and, therefore, do not require sales personnel.





Our management does not anticipate the need to hire additional full- or part- time employees over the next 12 months, as the services provided by our current officers and directors appear sufficient at this time.  Our officers and directors work for us on a part-time basis, and are prepared to devote additional time, as necessary.  We do not expect to hire any additional employees over the next 12 months.





There are no known trends, events or uncertainties that have had or that are reasonably expected to have a material impact on our revenues from continuing operations.





Our management does not expect to incur research and development costs.





We do not have any off-balance sheet arrangements.





We currently do not own any significant plant or equipment that we would seek to sell in the near future.





We have not paid for expenses on behalf of our directors.  Additionally, we believe that this fact shall not materially change.





We currently do not have any material contracts and or affiliations with third parties.














14


Controls and Procedures





Evaluation of Disclosure Controls and Procedures





As of September 30, 2010, our management, with the participation of our President and Chief Executive Officer and our Senior Vice President and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15(b) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  Based upon that evaluation, our President and Chief Executive Officer and our Chief Financial Officer concluded that, as of September 30, 2010, our disclosure controls and procedures were effective in ensuring that material 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, including ensuring that such material information is accumulated by and communicated to our management, including our President and Chief Executive Officer and our Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.





Changes in internal controls over financial reporting





There was no change in our internal controls over financial reporting that occurred during the period covered by this report, which has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.












































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PART II – OTHER INFORMATION





Exhibits and Reports on Form 8-K





Exhibit Number
Name and/or Identification of Exhibit31.1
Rule 13a-14(a)/15d-14(a) Certifications31.2
Rule 13a-14(a)/15d-14(a) Certifications32
Certification under Section 906 of the Sarbanes-Oxley Act (18 U.S.C. Section 1350)






























































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SIGNATURES





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





KRANEM CORPORATIONd/b/aLEARNINGWIRE.COM(Registrant)Signature
Title
Date/s/ Stephen K. Smith
President, CEO and Director
November 12, 2010Stephen K. Smith/s/ Michael Grove
Chief Financial Officer
November 12, 2010Michael Grove/s/ Michael Grove
Chief Accounting Officer
November 12, 2010Michael Grove
























































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