**United States Securities and Exchange Commission**

**Washington, D.C. 20549**

**FORM 10-Q/A**

**[X] QUARTERLY PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period: June 30, 2016

Or

**[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period ended: 

**Q2Power Technologies Inc.**

(Exact name of Registrant as specified in its Charter)

| Delaware

 000-55148

20-1602779

(State or Other Jurisdiction of

(Commission File Number)

(I.R.S. Employer Identification No.)

Incorporation)

 

 

**1858 Cedar Hill Rd.**

**Lancaster, Ohio 43130**

(Address of Principal Executive Offices)

**(740) 415-2073**

(Registrant’s Telephone Number, including area code)

(Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: Common Stock, par value $0.0001

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ] No [X]

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes [  ]   No [X]

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

(1) Yes [X] No [  ]     (2) 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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company:

Large accelerated filer       [   ]

Accelerated filer                      [   ]

Non-accelerated filer         [   ]

Smaller reporting company     [X]

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

Yes [  ] No [X]

Indicate the number of shares outstanding of each of the registrant’s classes of common equity, as of the latest practicable date:

August 19, 2016:  Common –   29,551,431

Preferred -- 600

Documents incorporated by reference: None.

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**Explanatory Note**

This 10-Q/A for the period ended June 30, 2016 is being filed to provide additional disclosure for Item 4: Controls and Procedures.  The amended Item 4 is set forth below. All other items and sections of the Quarterly Report on Form 10-Q remain the same.

**ITEM 4: CONTROLS AND PROCEDURES**

In connection with the preparation of this Quarterly Report, management, under the supervision and with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this Quarterly Report. Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to management, including the Chief Executive Officer and the Chief Financial Officer, to allow timely decisions regarding required disclosures.   Management concluded that, as of June 30, 2016, the Company’s disclosure controls and procedure were not effective based on the criteria in* Internal Control – Integrated Framework* issued by the COSO, version 2013.  

**Management’s Quarterly Report on Internal Control Over Financial Reporting**

Management is responsible for establishing and maintaining adequate internal control over financial reporting.  The Company’s internal control over financial reporting is a process, under the supervision of the Chief Executive Officer and the Chief Financial Officer, designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with generally accepted accounting principles in the United States (GAAP). Internal control over financial reporting includes those policies and procedures that:

·

Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the Company’s assets;

 

 

·

Provide reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and the Board of Directors; and

 

 

·

Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

The Company’s management conducted an assessment of the effectiveness of the Company’s internal control over financial reporting as of June 30, 2016, based on criteria established in* Internal Control – Integrated Framework* issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in 2013.  As a result of this assessment, management identified certain material weaknesses in internal control over financial reporting. A material weakness is a control deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the Company’s annual 

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or interim financial statements will not be prevented or detected on a timely basis.  Some of the material weaknesses identified are disclosed below: 

·

 

Management has a lack of knowledge and experience with accounting for derivative liabilities, reverse mergers and redeemable preferred stock.

·

 

Management is understaffed to perform the necessary accounting, including preparation of the required financial disclosures, in a timely manner. 

·

 

Management has not yet formed an audit committee. 

As a result of the material weakness in internal control over financial reporting described above, management concluded that, as of June 30, 2016, the Company’s internal control over financial reporting was not effective based on the criteria in* Internal Control – Integrated Framework* issued by the COSO.  

The Company is in the process of addressing and correcting these material weaknesses.  Management will be diligent in its efforts to continue to improve the reporting processes of the Company, including the continued development of proper accounting policies and procedures.  

This quarterly report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting.  We were not required to have, nor have we, engaged our independent registered public accounting firm to perform an audit of internal control over financial reporting pursuant to the rules of the Securities and Exchange Commission that permit us to provide only management’s report in this annual report.

**Changes in Internal Control Over Financial Reporting**

 Other than the remediation effort discussed above, there were no changes in the internal control over financial reporting that occurred during the quarter ended June 30, 2016, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.   

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**ITEM 6: EXHIBITS AND FINANCAL STATEMENT SCHEDULES**

(b)  Exhibits. 

Exhibit

Number               Description

31.1

302 Certification of Christopher Nelson, CEO

31.2

302 Certification of Michelle Murcia, CFO

32

906 Certification

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Q2POWER TECHNOLOGIES INC.

*Date:*

*2/15/2017*

 

*By:*

*/s/ Christopher M. Nelson*

 

 

 

 

*Christopher M. Nelson*

 

 

 

 

*Chief Executive Officer and Director*

*Date:*

*2/15/2017*

 

*By:*

*/s/ Michelle Murcia*

 

 

 

 

*Michelle Murcia*

 

 

 

 

*Chief Financial Officer*

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