UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 AMENDMENT NO. 1
                                       TO
                                    FORM 10-Q

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

                For the quarterly period ended September 30, 2010
                                       or
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

               FOR THE TRANSITION FROM ____________ TO ___________

                        Commission File Number: 000-53807


                                SavWatt USA Inc.
             (Exact name of registrant as specified in its charter)

           Delaware                                              27-2478133
(State or other Jurisdiction of                               (I.R.S. Employer
Incorporation or Organization)                               Identification No.)

    6801 Eastern Avenue, Suite 203
            Baltimore, MD                                          21224
(Address of principal executive offices)                         (Zip code)

                                 (866) 641-3507
                        (Registrant's telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and
posted on its Website, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (Sec.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 [ ] 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. 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 [ ]                         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]

          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                         DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether the registrant  filed all  documents and reports
required to be filed by Section 12, 13 or 15(d) of the  Exchange  Act after the
distribution of securities under a plan confirmed by a court. Yes [ ] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of October 25, 2010, there were
116,807,508 outstanding shares of the Registrant's Common Stock, $0.0001 par
value.
<PAGE>
                                     INDEX

                                                                            PAGE
                                                                            ----
PART I - FINANCIAL INFORMATION

Item 1. Financial Statements................................................. 3

Balance Sheets as of September 30, 2010 (Unaudited) and December 31, 2009
 (Audited)................................................................... 3

Statements of Operations for the Three months and Nine months ended September
30, 2010 and, September 30, 2009, and for the Period from October 20, 2006
(Inception) to September 30, 2010 (Unaudited)................................ 4

Statements of Cash Flows for the nine Months Ended September 30, 2010 and
September 30, 2009, and for the Period from October 20, 2006 (Inception) to
September 30, 2010(Unaudited)................................................ 5

Notes to Financial Statements as of September 30, 2010 (Unaudited)........... 6

Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations............................................... 13

Item 3. Quantitative and Qualitative Disclosures about Market Risk.......... 15

Item 4. Controls and Procedures............................................. 15

PART II - OTHER INFORMATION

Item 1. Legal Proceedings................................................... 17

Item 1A. Risk Factors....................................................... 17

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds......... 17

Item 3. Defaults Upon Senior Securities..................................... 17

Item 4. Submission of Matters to a Vote of Security Holders................. 17

Item 5. Other Information................................................... 17

Item 6. Exhibits............................................................ 17

SIGNATURES.................................................................. 18

                                       2
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                          (A Development Stage Company)
                                  BALANCE SHEET

<TABLE>
<CAPTION>
                                                                             September 30,          December 31,
                                                                                 2010                   2009
                                                                             ------------           ------------
                                                                             (Unaudited)
<S>                                                                          <C>                    <C>
ASSETS

CURRENT ASSETS
  Cash                                                                       $         11           $         --
  Subscription receivable                                                          25,000                     --
  Due from related party                                                          214,325                     --
  Other receivable                                                                 26,200                     --
                                                                             ------------           ------------
      TOTAL CURRENT ASSETS                                                        265,536                     --

Computer Equipment                                                                  8,957                     --
                                                                             ------------           ------------

      TOTAL ASSETS                                                           $    274,493           $         --
                                                                             ============           ============

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
  Accrued expenses                                                           $     51,310           $         --
  Due to related party                                                            174,777                     --
  Stockholder loan payable                                                             --                685,750
  Convertible loan payable-stockholder                                          1,503,167                     --
  Accrued interest - stockholder                                                  112,738                429,082
                                                                             ------------           ------------
      TOTAL LIABILITIES                                                         1,841,992              1,114,832
                                                                             ------------           ------------

STOCKHOLDERS' DEFICIT
  Common stock, $0.0001 par value, 2,000,000,000 and 100,000,000 shares
   authorized, 116,807,508 and 79,474,175 shares issued
   and outstanding, respectively                                                   11,679                  7,947
  Additional paid-in capital                                                   35,567,616             35,256,348
  Accumulated deficit during development stage                                (37,146,794)           (36,379,127)
                                                                             ------------           ------------
      TOTAL STOCKHOLDERS' DEFICIT                                              (1,567,499)            (1,114,832)
                                                                             ------------           ------------

      TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                            $    274,493           $         --
                                                                             ============           ============
</TABLE>


                 See Notes to the Unaudited Financial Statements

                                       3
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>

                                                                                                           From Inception
                                                Three Months Ended               Nine months ended       (October 20, 2006)
                                          -----------------------------    -----------------------------      through
                                          September 30,   September 30,    September 30,   September 30,    September 30,
                                              2010            2009             2010            2009             2010
                                          ------------    ------------     ------------    ------------     ------------
                                           (Unaudited)     (Unaudited)      (Unaudited)     (Unaudited)      (Unaudited)
<S>                                       <C>             <C>              <C>             <C>              <C>

REVENUES                                  $         --    $         --      $         --    $         --     $         --
                                          ------------    ------------      ------------    ------------     ------------
EXPENSES
  General and administrative                    20,625              --           105,819              --          123,230
  Professional fees                            165,776          90,000           255,776         320,000        1,488,376
  Stock based compensation                          --              --                --         350,001       34,700,044
                                          ------------    ------------      ------------    ------------     ------------
      Total Expenses                           186,401          90,000           361,595         670,001       36,311,650
                                          ------------    ------------      ------------    ------------     ------------

LOSS FROM OPERATIONS                          (186,401)        (90,000)         (361,595)       (670,001)     (36,311,650)
                                          ------------    ------------      ------------    ------------     ------------
OTHER INCOME (EXPENSE)
  Interest income                                5,000              --             5,000              --            5,010
  Interest expense                             (67,642)        (46,109)         (411,072)       (138,327)        (840,154)
                                          ------------    ------------      ------------    ------------     ------------
      Total Other Income (Expense)             (62,642)        (46,109)         (406,072)       (138,327)        (835,144)
                                          ------------    ------------      ------------    ------------     ------------

NET LOSS                                  $   (219,043)   $   (136,109)     $   (767,667)   $   (808,328)    $(37,146,794)
                                          ============    ============      ============    ============     ============

NET LOSS PER SHARE, BASIC AND DILUTED     $      (0.00)   $      (0.00)     $      (0.01)   $      (0.01)
                                          ============    ============      ============    ============
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
 OUTSTANDING, BASIC AND DILUTED            108,927,074      79,474,175        91,777,095      78,908,482
                                          ============    ============      ============    ============
</TABLE>


                 See Notes to the Unaudited Financial Statements

                                       4
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                             From Inception
                                                                   Nine months ended       (October 20, 2006)
                                                             -----------------------------      through
                                                             September 30,   September 30,    September 30,
                                                                 2010            2009             2010
                                                             ------------    ------------     ------------
                                                              (Unaudited)     (Unaudited)      (Unaudited)
<S>                                                          <C>              <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                   $   (767,667)    $  (808,328)    $(37,146,794)
  Adjustments to reconcile net loss to
   net cash used in operating activities:
     Stock issued for services                                         --          50,000           60,001
     Stock based compensation                                          --         350,001       34,700,044
  Changes in operating assets and liabilities:
     Other receivable                                             (26,200)             --          (26,200)
     Accrued expenses                                              51,310              --           51,310
     Due from related party                                       (39,548)             --          (39,548)
     Stockholder loan payable                                      90,000         270,000        1,260,000
     Accrued interest                                             411,073         138,327          840,155
                                                             ------------     -----------     ------------
          Net cash used in operating activities                  (281,032)             --         (301,032)
                                                             ------------     -----------     ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchase of computer equipment                                   (8,957)             --           (8,957)
                                                             ------------     -----------     ------------
          Net cash provided by financing activities                (8,957)             --           (8,957)
                                                             ------------     -----------     ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from issuance of common stock                          290,000              --          310,000
                                                             ------------     -----------     ------------
          Net cash provided by financing activities               290,000              --          310,000
                                                             ------------     -----------     ------------

NET DECREASE IN CASH                                                   11              --               11

CASH, BEGINNING OF PERIOD                                              --              --               --
                                                             ------------     -----------     ------------

CASH, END OF PERIOD                                          $         11     $        --     $         11
                                                             ============     ===========     ============

SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid                                              $         --     $        --     $         --
                                                             ============     ===========     ============
  Income taxes paid                                          $         --     $        --     $         --
                                                             ============     ===========     ============
  Subscription receivable                                    $     25,000     $        --     $     45,000
                                                             ============     ===========     ============
  Stock issued for repayment of
   shareholder loan                                          $         --     $        --     $    484,250
                                                             ============     ===========     ============
  Stockholder loan and accrued interest
   exchanged for a short term
   convertible loan                                          $  1,503,167     $        --     $  1,503,167
                                                             ============     ===========     ============
</TABLE>


                 See Notes to the Unaudited Financial Statements

                                       5
<PAGE>
                                SavWatt USA, Inc.
                            f/k/a Ludvik Capital, Inc
                   Notes to the Unaudited Financial Statements


NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

Ludvik Capital, Inc. (hereinafter "the Company") was incorporated on October 20,
2006  under the laws of the State of  Delaware  for the  purpose  of  becoming a
successor  corporation  by  merger  with  Patriot  Advisors,  Inc.  and  Templar
Corporation,  pursuant to a plan of  reorganization  and merger  approved by the
United States Bankruptcy  Court,  District of Maine in Case No. 04-20328 whereby
Ludvik Capital, Inc is the continuing entity.

The  Company's  business  plan  consisted  of  investing  in public and  private
companies, providing long term equity and debt investment capital to fund growth
and acquisitions and recapitalizations of small and middle market companies in a
variety of industries primarily located in the United States.

On April 5, 2010, the Company amended its articles of incorporation  and changed
its name to SavWatt USA, Inc.

SavWatt USA,  Inc.  ("SavWatt")  business  plan is to  capitalize on the largely
unaddressed  commercial and consumer market for energy-efficient LED lighting by
investing  in  product  and  corporate  marketing.  With  public  relations  and
advertising throughout the media, a recognized,  popular consumer LED brand will
be  cultivated,  spearheading  and  establishing  a leading  market share in the
growing  energy-efficient  bulb  sector  during  the next  three to five  years.
SavWatt  has the  exclusive  marketing  rights in the United  States to sell LED
street lighting for Unilumin (www.unilumin.com).

The Company is a development stage enterprise.

The Company's year end is December 31.

The Company's corporate headquarters were originally located in Virginia but are
currently located in Baltimore MD.

The foregoing  unaudited  financial  statements have been prepared in accordance
with generally accepted accounting principles for interim financial information.
Accordingly,  these  financial  statements do not include all of the disclosures
required by generally  accepted  accounting  principles  in the United States of
America for complete  financial  statements.  These unaudited  interim financial
statements should be read in conjunction with the audited  financial  statements
for the period  ended  December  31,  2009.  In the opinion of  management,  the
unaudited interim financial statements furnished herein include adjustments, all
of which are of a normal recuing  nature,  necessary for a fair statement of the
results  for  all the  interim  periods  presented.  Operating  results  for the
six-month period ending September 30, 2010 are not necessarily indicative of the
results that may be expected for the year ended December 31, 2010.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This  summary of  significant  accounting  policies  is  presented  to assist in
understanding the accompanying  financial  statements.  The financial statements
and notes are representations of the Company's management,  which is responsible
for their  integrity  and  objectivity.  These  accounting  policies  conform to
accounting  principles  generally  accepted in the United  States of America and
have been consistently applied in the preparation of the financial statements.

Accounting Method
The  Company's  financial  statements  are prepared  using the accrual  basis of
accounting in accordance with accounting  principles  generally  accepted in the
United States of America.

                                       6
<PAGE>
Development Stage Activities
The Company has been in the  development  stage since its  formation and has not
realized  any  significant  revenue  from  operations.  The Company is currently
engaged in the LED lighting business.

Going Concern
The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  reflected  in the  financial
statements,  the Company  incurred net losses of $37,146,794 for the period from
inception, October 20, 2006 through September 30, 2010. In addition, the Company
had an  accumulated  deficit of  $37,146,794  at September  30, 2010.  Since its
inception,  the Company has not  generated  any  revenues  and has minimal  cash
resources.

These  circumstances  raise  substantial  doubt about the  Company's  ability to
continue  as a going  concern.  The  consolidated  financial  statements  do not
include any adjustments that might result from the outcome of this  uncertainty.
Management's   efforts  have  been   directed   towards  the   development   and
implementation  of a plan to  generate  sufficient  revenues to cover all of its
present and future costs and expenses.

Management is taking steps to address this situation. The Company has determined
that it cannot continue with its business operations as outlined in its original
business plan because of a lack of financial  resources;  therefore,  management
has redirected their focus towards  identifying and pursuing  options  regarding
the  development  of a new business plan and direction.  The Company  intends to
explore  various  business  opportunities  that have the  potential  to generate
positive revenue,  profits and cash flow in order to financially accommodate the
costs of being a publicly held company. The Company is in the process of raising
capital  by  implementing  its  business  plan in Led  lighting  and  expects to
generate  sufficient  revenue by the fourth quarter of 2010 with a positive cash
flow.  Until then,  the Company the Company will not have the  required  capital
resources or credit lines available that are sufficient to fund operations.

The Company has minimal  operating costs and expenses at the present time due to
its limited business activities. The Company, however, will be required to raise
additional   capital   over  the  next   twelve   months  to  meet  its  current
administrative  expenses, and it may do so in connection with or in anticipation
of  possible  acquisition  transactions.  This  financing  may  take the form of
additional sales of its equity securities and/or loans from its directors. There
is no assurance that additional financing will be available,  if required, or on
terms favorable to the Company.

The  financial  statements  do  not  include  any  adjustments  relating  to the
recoverability  and  classification  of  recorded  assets,  or the  amounts  and
classification  of liabilities  that might be necessary in the event the Company
cannot continue in existence.

The  accompanying  financial  statements have been prepared,  in accordance with
accounting  principles generally accepted in the United States ("U.S. GAAP") and
pursuant to the rules and regulations of the Securities and Exchange  Commission
(the "SEC").

Cash and Cash Equivalents
For  purposes  of the  statement  of  cash  flows,  the  Company  considers  all
short-term  debt with  original  maturities  of three  months or less to be cash
equivalents.

Fair Value of Financial Instruments
The Company's financial instruments may include cash,  subscription  receivable,
loans  payable and related  accrued  interest,  and accounts  payable.  All such
instruments  are accounted  for on a historical  cost basis,  which,  due to the
short  maturity  of these  financial  instruments,  approximates  fair  value at
September 30, 2010 and December 31, 2009.

                                       7
<PAGE>
Revenue Recognition
Revenue is recognized when all of the following criteria are met: (1) persuasive
evidence that an arrangement  exists; (2) delivery has occurred or services have
been rendered;  (3) the seller's  price to the buyer is fixed and  determinable;
and, (4)  collectability is reasonably  assured.  The Company has not earned any
revenue since inception.

Use of Estimates
The process of preparing  financial  statements  in conformity  with  accounting
principles  generally  accepted in the United States of America requires the use
of estimates and  assumptions  regarding  certain types of assets,  liabilities,
revenues,   and  expenses.   Such  estimates   primarily   relate  to  unsettled
transactions and events as of the date of the financial statements. Accordingly,
upon settlement, actual results may differ from estimated amounts.

Provision for Taxes
Income taxes are provided based upon the liability  method of accounting.  Under
this  approach,   deferred   income  taxes  are  recorded  to  reflect  the  tax
consequences in future years of differences  between the tax basis of assets and
liabilities and their financial reporting amounts at each year-end.  A valuation
allowance  is recorded  against the deferred  tax asset if  management  does not
believe  the  Company  has met the  "more  likely  than not"  standard  to allow
recognition of such an asset.

Basic and Diluted Earnings (Loss) Per Share
Basic  earnings per share is  calculated  on the  weighted  effect of all common
shares  issued  and  outstanding,  and is  calculated  by  dividing  net  income
available to common  stockholders  by the weighted  average  shares  outstanding
during the period.  Diluted earnings per share,  which is calculated by dividing
net income  available to common  stockholders by the weighted  average number of
common shares used in the basic earnings per share calculation,  plus the number
of common shares that would be issued  assuming  conversion  of all  potentially
dilutive  securities   outstanding,   is  not  presented  separately  as  it  is
anti-dilutive.

The average number of common shares  outstanding  for the period ended September
30,  2010  has been  retroactively  adjusted  for the 2:1  forward  stock  split
effective August 17, 2007.

Stock Based  Compensation  - The Company  accounts for stock based  compensation
transactions  with  employees  under  the  provisions  of  ASC  Topic  No.  718,
"Compensation, Stock Compensation" ("Topic No. 718"). Topic No. 718 requires the
recognition of the fair value of equity-based  compensation  in net income.  The
fair  value  of  the  Company's   equity   instruments  are  estimated  using  a
Black-Scholes  option valuation  model.  This model requires the input of highly
subjective  assumptions and elections  including expected stock price volatility
and  the  estimated  life  of  each  award.  In  addition,  the  calculation  of
equity-based compensation costs requires that the Company estimate the number of
awards  that will be  forfeited  during the  vesting  period.  The fair value of
equity-based awards granted to employees is amortized over the vesting period of
the award and the  Company  elected to use the  straight-line  method for awards
granted after the adoption of Topic No. 718.

The Company accounts for equity based transactions with non-employees  under the
provisions of ASC Topic No.  505-50,  "Equity-Based  Payments to  Non-Employees"
("Topic No. 505-50").  Topic No. 505-50  establishes that  equity-based  payment
transactions  with  non-employees  shall be  measured  at the fair  value of the
consideration received or the fair value of the equity instruments issued, which
ever is more  reliably  measurable.  When the equity  instrument is utilized for
measurement  the fair  value of the equity  instrument  is  estimated  using the
Black-Scholes  option  valuation  model. In general,  the Company  recognizes an
asset or expense in the same  manner as if it was to receive  cash for the goods
or services instead of paying with or using the equity instrument.

Forward stock split
All  references  to the Company's  outstanding  shares,  and options,  have been
adjusted to give effect to the 2 for 1 forward stock split effective  August 17,
2007.

                                       8
<PAGE>
Recently Issued  Accounting  Pronouncements
Affecting the Company The Financial Accounting Standards Board's ("FASB")
Accounting Standards Codification (ASC) became effective on July 1, 2009. At
that date, the ASC became FASB's officially recognized source of authoritative
U.S. generally accepted accounting principles ("GAAP") applicable to all public
and non-public non-governmental entities, superseding existing FASB, American
Institute of Certified Public Accountants ("AICPA"), Emerging Issues Task Force
("EITF") and related literature. Rules and interpretive releases of the SEC
under the authority of federal securities laws are also sources of authoritative
GAAP for SEC registrants. All other accounting literature is considered
non-authoritative. The switch to the ASC affects the way companies refer to U.S.
GAAP in financial statements and accounting policies. Citing particular content
in the ASC involves specifying the unique numeric path to the content through
the Topic, Subtopic, Section and Paragraph structure.

In  February  2010,  the FASB  issued  Accounting  Standards  Update  (ASU)  No.
2010-08--Technical  Corrections to Various Topics.  This update's  purpose is to
eliminate GAAP inconsistencies,  update outdated provisions,  and provide needed
clarifications.  The adoption of ASU No. 2010-08 will not have a material impact
on the Company's financial statements.

Management  does  not  believe  that  any  other  recently  issued,  but not yet
effective,  accounting  standards,  if currently adopted,  could have a material
effect on the accompanying financial statements.

NOTE 3 - FAIR VALUE MEASUREMENTS

The Company adopted FASB ASC 820-Fair Value  Measurements and  Disclosures,  for
assets and  liabilities  measured  at fair value on a recurring  basis.  ASC 820
establishes  a common  definition  for  fair  value to be  applied  to  existing
generally  accepted  accounting  principles  that  require the use of fair value
measurements  establishes  a  framework  for  measuring  fair value and  expands
disclosure about such fair value  measurements.  The adoption of ASC 820 did not
have an impact on the Company's financial position or operating results, but did
expand certain disclosures.

ASC 820 defines  fair value as the price that would be received to sell an asset
or paid to  transfer  a  liability  in an  orderly  transaction  between  market
participants at the measurement date. Additionally,  ASC 820 requires the use of
valuation techniques that maximize the use of observable inputs and minimize the
use of unobservable inputs. These inputs are prioritized below:

Level 1:  Observable inputs such as quoted market prices in active markets for
          identical assets or liabilities

Level 2:  Observable market-based inputs or unobservable inputs that are
          corroborated by market data

Level 3:  Unobservable inputs for which there is little or no market data, which
          require the use of the reporting entity's own assumptions.

The Company  did not have any Level 1, Level 2 or Level 3 assets or  liabilities
as of September 30, 2010 and December 31, 2009.

The Company  discloses the estimated  fair values for all financial  instruments
for which it is practicable to estimate fair value. As of September 30, 2010 and
December 31, 2009, the fair value  short-term  financial  instruments  including
subscriptions receivable,  loans payable, accounts payable and accrued expenses,
approximates book value due to their short-term duration.

In addition, the Financial Accounting Standards Board ("FASB") issued, "The Fair
Value Option for  Financial  Assets and  Financial  Liabilities,"  effective for
January  1,  2008.  This  guidance  expands  opportunities  to  use  fair  value
measurements  in financial  reporting and permits  entities to choose to measure
many financial  instruments  and certain other items at fair value.  The Company
did  not  elect  the  fair  value  option  for any of its  qualifying  financial
instruments

                                       9
<PAGE>
NOTE 4 - RELATED PARTY DEBT AND TRANSACTIONS

On December  14th 2006,  the Company  entered  into an Advisory  Agreement  with
Ludvik  Nominees Pty Ltd (a Company 100% owned by Frank Kristan) for services to
be rendered  which were payable based on 3% assets under  management  and 20% of
net profits of Ludvik Capital.  The term of the agreement was  approximately  11
years, maturing on December 31, 2017.

Frank  Kristan  served as President and Chief  Executive  Officer of the Company
from  inception,  October  20,  2006  through  March  31,  2010  and is also the
President of Ludvik Nominees Pty Ltd.

On March 31, 2010 the original 2006  agreement was  terminated  and a settlement
agreement was created to resolve any outstanding obligations with respect to the
2006 agreement.  In accordance with the settlement agreement both parties agreed
that since  advisory fees under the December 14th 2006  Agreement  were based on
the assets under management that had no value, the Advisor had the option to get
paid a fee of  $30,000  per month  starting  October  2006  including  interest.
Furthermore,  the remaining  principal balance plus accrued interest as of March
31,  2010  was  rolled  over  into  a  Secured  Convertible  Note  amounting  to
$1,503,167.

From the period from inception,  October 20, 2006 through the termination of the
original  agreement,  March 31, 2010, the Company issued its advisors 32,394,269
shares of common stock as payment for services amounting to $484,250

The parties agreed that following  components made up the balance of the Secured
Convertible Note as of March 31, 2010:

                Advisory Fees                      $ 1,260,000
                Accrued Interest                       727,417
                Payment for shares issued             (484,250)
                                                   -----------
                                                   $ 1,503,167
                                                   ===========

This note is  payable  on June 30,  2010 and bears an  interest  rate of 18% per
annum payable at the end of the term. After default, the upaid principal balance
of this note and any accrued and unpaid  interest  bear  interest at the rate of
18%.  The  outstanding  balance  and  accrued  interest,  all  or  in  part,  is
convertible  at the option of the holder into the  Company's  common  stock at a
conversion price of 50% of the stock price, with a minimum of $.01 per share. As
of  September  30,  2010  and as of the  date of this  filing,  this  note is in
default. As of September 30, 2010, the Company has accrued interest amounting to
approximately $113,000.

On March 31,  2010,  Frank  Kristan  resigned as  President  and Director of the
Company. At that time, Isaac H. Sutton was elected to the Board of Directors and
currently serves as the Company's new President and sole Director.  In addition,
Mr. Sutton currently has a consulting agreement for $60,000 per annum

During the period,  April 1, 2010 - September  30, 2010,  the Company has funded
SavWatt Industries,  LLC, a related party $212,325 which is payable and due upon
demand. Isaac H Sutton, The Company's President and sole Director from March 31,
2010 until the present, is a 50% shareholder in SavWatt Industries, LLC

During the Period of April 1, 2010 - September  30, 2010,  the Company  received
short term funding from GoIP Global,  Inc and Sutton  Global  Associates,  Inc.,
which are also related  parties.  These  companies  are  controlled  by Isaac H.
Sutton, the Company's President and sole Director. As of September 30, 2010, the
Company owes these two companies $172,775.

                                       10
<PAGE>
NOTE 5 - EQUITY TRANSACTIONS FROM INCEPTION TO THE FILING DATE

On October  20,  2006,  Ludvik  Capital,  Inc.  was  formed to be the  successor
corporation by merger of Patriot Advisors, Inc. and Templar Corporation.

Pursuant to a court order in the US  bankruptcy  court and  December  12th Stock
Purchase  Agreement  between the Company and Ludvik  Nominees  Pty Ltd,  Patriot
Advisors,  Inc. and Templar  Corporation  merged with the Ludvik  Capital,  Inc,
whereby the surviving corporation became the registrant, Ludvik Capital, Inc.

Ludvik Nominees Pty Ltd was issued 40,000,000 shares (post forward stock split),
of which  approximately  18 million shares of Ludvik common stock were issued to
old  creditors  of  Patriot  Advisors  and  Templar  Corp as  payment  for  past
outstanding  services and approximately 22 million shares of Ludvik common stock
were held by Ludvik Nominees Pty Ltd. for the initial capital of $20,000.

On February 7, 2007 the United States Bankruptcy Court for the District of Maine
entered an order  confirming  the  December 12, 2006  agreement  with the Debtor
whereby, there were 40,000,000 (post forward stock split) unrestricted shares of
the  Company's  Common  Stock  issued to  creditors  and plan  participants  (as
disclosed in Note 6-Equity Transactions).

The Company has always been  actively  engaged in its  business of  investing in
small to mid cap companies and has historically had more than nominal assets and
more than nominal  operations,  although those  operations have not produced any
meaningful  revenues to the Company due to the upheaval in the financial markets
and inability to obtain the necessary capital to fund the companies in which the
Company  invested  and entered  into  contracts  to assist  these  companies  in
obtaining debt and equity financing.

On June 19, 2007, the Company issued 24,196 common shares for the acquisition of
CyberSentry. This investment was assessed to have no value.

On July 30,  2007,  the  Company  issued  2,055,710  shares of  common  stock to
unrelated  parties,  valued at $5.52 per share for  $10,000 in  services  and an
additional  11,340,000 was recorded as stock based compensation in the Company's
statement of operations.

On August 17, 2007, the Company effected a 2:1 forward stock-split of its issued
and outstanding common stock. The issued and outstanding share capital increased
from 21,042,098 shares of common stock to 42,084,196 shares of common stock. All
per share  amounts  have been  retroactively  restated  to reflect  the  forward
stock-split.

On October 1, 2007, the Company issued 4,325,000 shares of common stock at $1.01
per share,  totaling $4,368,250,  in which $64,875 was for repayment of advisory
fees payable to a related  party,  Ludvik  Nominees Pty Ltd, and  $4,303,375 was
recorded as stock based compensation in the statement of operations.

On October 3, 2007,  the Company  issued  10,000,000  shares of common  stock at
$1.01 per share,  totaling  $10,100,000  in which  $150,000 was for repayment of
advisory  fees  payable  to a  related  party,  Ludvik  Nominees  Pty  Ltd,  and
$9,950,000  was  recorded  as  stock  based  compensation  in the  statement  of
operations.

On January 15, 2008,  the Company  issued  15,000,000  shares of common stock at
$.52 per share,  totaling  $7,800,000  in which  $225,000  was for  repayment of
advisory  fees  payable  to a  related  party,  Ludvik  Nominees  Pty  Ltd,  and
$7,575,000  was  recorded  as  stock  based  compensation  in the  statement  of
operations.

On June 27, 2008,  the Company issued  3,069,269  shares of common stock at $.40
per share,  totaling  $1,227,708  in which $44,375 was for repayment of advisory
fees payable to a related  party,  Ludvik  Nominees Pty Ltd, and  $1,181,669 was
recorded as stock based compensation in the statement of operations.

                                       11
<PAGE>
On February 1, 2009, the Company issued  5,000,000 common shares to an unrelated
party,  valued at $.80 per share  for  $50,000  in  services  and an  additional
$350,001 was recorded as stock based compensation in the Company's  statement of
operations.

On April 5, 2010, the Company amended its Articles of Incorporation changing the
name of the Company to SavWatt USA, Inc and increasing  the  authorized  capital
stock from 100,000,000 to  2,000,000,000  shares of Common Stock and 200,000,000
shares of Preferred Stock, par value $.0001 per share.

On May 31, 2010 and June 10, 2010 the Company sold a total of 24,000,000  common
shares for $240,000.

On July 10, 2010, the Company sold 5,000,000 shares of common stock for $50,000.

On  September  17, 2010 the Company  sold  8,333,333  shares of common stock for
$25,000. The cash was received after the balance sheet date, and therefore as of
September 30, 2010 the Company recorded a subscription  receivable  amounting to
$25,000.

NOTE 6 - COMMITMENTS AND CONTINGENCIES

On July 1, 2010, the Company  entered into an employment  agreement with Michael
Haug, as the Company's CEO,  which  responsibilities  include  running the daily
operations  of SavWatt USA,  Inc. The term of the agreement is for one year at a
salary of $84,000,  and may be renewed upon mutual  agreement by the Company and
the employee.

                                       12
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

                     CAUTIONARY FORWARD - LOOKING STATEMENT

     This Form 10-Q contains "forward-looking  statements" within the meaning of
the Private  Securities  Litigation  Reform Act of 1995.  Some of the statements
contained  in this Form 10-Q for SavWatt  USA,  Inc.,  formerly  known as Ludvik
Capital, Inc. ("Company"),  discuss future expectations,  contain projections of
results of  operation or  financial  condition or state other  "forward-looking"
information.   These   statements  are  subject  to  known  and  unknown  risks,
uncertainties,  and other factors that could cause the actual  results to differ
materially  from  those  contemplated  by the  statements.  The  forward-looking
information  is  based  on  various   factors  and  is  derived  using  numerous
assumptions.

     Management  expresses its  expectations,  beliefs and  projections  in good
faith  and  believes  the  expectations   reflected  in  these   forward-looking
statements  are based on  reasonable  assumptions;  however,  Management  cannot
assure current stockholders or prospective stockholders that these expectations,
beliefs  and  projections  will  prove  to  be  correct.   Such  forward-looking
statements  reflect the current views of Management  with respect to the Company
and anticipated future events.

     Management cautions current stockholders and prospective  stockholders that
such forward-looking statements,  including,  without limitation, those relating
to the Company's future business prospects,  demand for its products,  revenues,
capital needs, expenses, development and operation costs, wherever they occur in
this Form 10-Q, as well as in the documents  incorporated  by reference  herein,
are not guarantees of future  performance or results,  but are simply  estimates
reflecting  the best  judgment of  Management  and involve a number of risks and
uncertainties  that could cause actual results to differ  materially  from those
suggested by such forward-looking statements.

     Important  factors that may cause actual results to differ from projections
include, for example:

     *    the success or failure of management's efforts to implement their
          business strategy;
     *    the ability of the Company to raise sufficient capital to meet
          operating requirements;
     *    the uncertainty of consumer demand for our products, services and
          technologies;
     *    the ability of the Company to protect its intellectual property
          rights;
     *    the ability of the Company to compete with major established
          companies;
     *    the effect of changing economic conditions;
     *    the ability of the Company to attract and retain quality employees;
     *    the current global recession and financial uncertainty; and
     *    other risks which may be described in future filings with the SEC.

     Words such as "anticipates,"  "expects,"  "intends,"  "plans,"  "believes,"
"seeks,"  "estimates," and 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 and
outcomes may differ  materially from what is expressed or forecasted in any such
forward-looking  statements.  Unless required by law, the Company  undertakes no
obligation  to update  publicly  any  forward-looking  statements,  whether as a
result of new information, future events or otherwise.

GENERAL

     The Company was  incorporated on October 20, 2006, under the name of Ludvik
Capital,  Inc. We changed  our name to SavWatt  USA,  Inc. on April 5, 2010.  On
January 12, 2007, we filed a Form 10 registration  statement under section 12(g)
of the  Securities  Exchange  Act of 1934,  as amended  ("Exchange  Act").  As a
consequence of filing our Form 10, we became  subject to the periodic  reporting
requirements  of the  Exchange Act and were  required to file Annual  Reports of

                                       13
<PAGE>
Form 10-K,  Quarterly  Reports on Form 10-Q,  Current Reports on Form 8-K, Proxy
Statements  pursuant to Regulation 14A and Schedule 14C  Information  Statements
pursuant to the Exchange Act.

     Our prior management filed numerous Form 8-K Current Reports, but failed to
file the  requisite  Annual  Reports  on Form 10-K for the  fiscal  years  ended
December 31, 2006, 2007, 2008 and 2009. In addition, our prior management failed
to file Quarterly  Reports on Form 10-Q for the quarters ended March 31, June 30
and September 30, 2007,  for the quarters  ended March 31, June 30 and September
30, 2008, for the quarters ended March 31, June 30 and September 30, 2009.

     As a result  of prior  management's  failure  to file the  above  described
periodic  reports,  our  common  stock  is not  eligible  for  quotation  on the
Over-the-Counter Bulletin Board. Instead our common stock is quoted on the "Pink
Sheets."  Our  management  is intent on taking all steps  necessary  to have our
common stock quoted on the  Over-the-Counter  Bulletin  Board and is filing this
Form 10-Q  Quarterly  Report for the Quarter Ended  September 30, 2010,  and has
filed the Form 10-K Annual Reports for the Fiscal Years Ended December 31, 2007,
2008 and 2009, and delinquent Form 10-Q Quarterly  Reports  described  above. We
are also seeking a market maker to file a Form 211 with FINRA in order for us to
obtain a new trading  symbol and have our shares quoted on the  Over-the-Counter
Bulletin Board.

     While this Form 10-Q contains narrative  information about our Company that
is current,  this Form 10-Q contains  unaudited  financial  statements for 2010,
which are obviously outdated and do not present our current financial condition.
THEREFORE,  OUR  SHAREHOLDERS  AND  PROSPECTIVE  INVESTORS ARE URGED TO READ OUR
ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED  DECEMBER 31, 2009 PRIOR TO
MAKING AN INVESTMENT DECISION WITH RESPECT TO THE SHARES OF OUR COMMON STOCK.

     The financial  statements  included in this Form 10-Q have been prepared in
accordance  with  generally   accepted   accounting   principles  for  financial
information and have been prepared  pursuant to the rules and regulations of the
Securities  and Exchange  Commission  for smaller  reporting  companies.  In the
opinion of management, all adjustments, consisting of normal recurring accruals,
necessary for a fair  presentation  of the results of operations  for the period
from  October 20, 2006  (Inception)  to September  30, 2010 have been  reflected
herein.

     The results of operations for the period from October 20, 2006  (Inception)
to  September  30,  2010 are not  necessarily  indicative  of the  results to be
expected in the future.  These statements should be read in conjunction with the
audited  financial  statements  for the year ended December 31, 2009 included in
our previously filed Form 10-K.

RESULTS OF OPERATIONS

     The Company has not generated  any revenues  since its inception on October
20, 2006.

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010

     The Company's  operations for the three and nine months ended September 30,
2010 consist of General and  administrative  expenses  incurred in the amount of
$20,625 and $105,819  respectively and  professional  fees amounting to $165,774
and $255,774, respectively.

FOR THE PERIOD FROM OCTOBER 20, 2006 (INCEPTION) TO September 30, 2010.

     Expenses from  inception  consist of  professional  fees of $1,488,376  and
general and  administrative  expenses  consisting  of  organization  and related
expenses of $123,230 and $34,700,044 related to stock based compensation.

                                       14
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES

     We have financed our operations  from inception to date through the sale of
common stock, amounting to $310,000.

     We had minimal cash on hand as of September 30, 2010 and a working  capital
deficiency of $1,576,456.  We will continue to need  additional  cash during the
following  twelve  months and these needs will  coincide  with the cash  demands
resulting  from  implementing  our business plan and remaining  current with our
Securities and Exchange Commission  filings.  There is no assurance that we will
be able to obtain  additional  capital as  required,  or obtain  the  capital on
acceptable terms and conditions.

GOING CONCERN

     The accompanying financial statements have been prepared in conformity with
generally accepted accounting principles,  which contemplate continuation of the
Company as a going concern.  The Company has not begun  generating  revenue,  is
considered a development stage company, has experienced  recurring net operating
losses and had a net loss of $767,667  for the nine months ended  September  30,
2010.  These factors  raise  substantial  doubt about the  Company's  ability to
continue as a going concern.

     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.  We will
need to raise funds or implement our business plan to continue operations.

OFF-BALANCE SHEET ARRANGEMENTS

     We do  not  have  any  off-balance  sheet  arrangements  that  have  or are
reasonably likely to have a current or future effect on our financial condition,
changes in financial  condition,  revenues or expenses,  results of  operations,
liquidity,  capital  expenditures  or  capital  resources  that is  material  to
investors.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK.

     Not applicable.

ITEM 4. CONTROLS AND PROCEDURES.

(a) Evaluation of disclosure controls and procedures.

     We conducted an evaluation under the supervision and with the participation
of our management,  including Isaac H. Sutton, our President and Chief Financial
Officer,  of the  effectiveness  of the design and  operation of our  disclosure
controls and  procedures.  The term  "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  "Exchange  Act"),  means controls and other procedures of a
company that are designed to ensure that information required to be disclosed by
the  company  in the  reports  it files or  submits  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.

     Disclosure  controls  and  procedures  also  include,  without  limitation,
controls  and  procedures  designed  to ensure that  information  required to be
disclosed  by a  company  in the  reports  that it files or  submits  under  the
Exchange  Act is  accumulated  and  communicated  to the  company's  management,
including its principal executive and principal  financial officers,  or persons
performing  similar  functions,  as  appropriate,   to  allow  timely  decisions
regarding required disclosure. Based on this evaluation, our President and Chief
Financial  Officer concluded as of December 31, 2009, and again as September 30,
2010,  that our disclosure  controls and procedures  have been improved and were
effective  at the  reasonable  assurance  level in our  internal  controls  over
financial reporting discussed immediately below.

                                       15
<PAGE>
MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

     Our management is responsible for  establishing  and  maintaining  adequate
internal  control over  financial  reporting as defined in Rules  13a-15(f)  and
15d-15(f) under the Exchange Act. Our internal control over financial  reporting
is  designed  to provide  reasonable  assurance  regarding  the  reliability  of
financial  reporting and the  preparation  of financial  statements for external
purposes in  accordance  with  generally  accepted  accounting  principles.  Our
internal control over financial reporting includes those policies and procedures
that:

     (1)  pertain  to the  maintenance  of  records  that in  reasonable  detail
          accurately and fairly reflect the transactions and dispositions of our
          assets;

     (2)  provide  reasonable   assurance  that  transactions  are  recorded  as
          necessary to permit preparation of financial  statements in accordance
          with U.S. GAAP, and that our receipts and  expenditures are being made
          only in  accordance  with  the  authorization  of our  management  and
          directors; and

     (3)  provide reasonable  assurance regarding prevention or timely detection
          of  unauthorized  acquisition,  use or  disposition of our 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.

     Management   assessed  the  effectiveness  of  our  internal  control  over
financial  reporting as of December 31, 2006 and again as of September  30,2010.
In making this assessment, management used the framework set forth in the report
entitled  Internal  Control-Integrated  Framework  issued  by the  committee  of
Sponsoring Organizations of the Treadway Commission, or COSO. The COSO framework
summarizes  each of the  components  of a  company's  internal  control  system,
including  (i) the  control  environment,  (ii)  risk  assessment,  (iii)control
activities, (iv) information and communication,  and (v) monitoring. This annual
report  does  not  include  an  attestation  report  of  our  registered  public
accounting   firm  regarding   internal,   control  over  financial   reporting.
Management's  report was not subject to  attestation  by our  registered  public
accounting  firm  pursuant to  temporary  rules of the  Securities  and Exchange
Commission  that permits us to provide only  management's  report in this annual
report.

IDENTIFIED MATERIAL WEAKNESSES AND SIGNIFICANT DEFICIENCIES

     A material  weakness is a control  deficiency,  or  combination  of control
deficiencies,  that  results  in more than a remote  likelihood  that a material
misstatement  of the  financial  statements  will not be  prevented or detected.
Management  identified  no such  material  weakness  or  deficiency  during  its
assessment of our internal  control over financial  reporting as of December 31,
2009, and again as of September 30, 2010.

(b) Changes in Internal Control over Financial Reporting

During the quarter ended  September 30, 2010, we did not make any changes in our
internal controls over financial reporting.

                                       16
<PAGE>
                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

     The Company is not aware of any  threatened or pending  litigation  against
the Company.

ITEM 1A. RISK FACTORS.

     Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

     None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

     None.

ITEM 4. (REMOVED AND RESERVED)

     None.

ITEM 5. OTHER INFORMATION.

     None.

ITEM 6. EXHIBITS.

     See Exhibit  Index below for  exhibits  required by Item 601 of  regulation
S-K.

                                  EXHIBIT INDEX

List of Exhibits  attached or incorporated by reference  pursuant to Item 601 of
Regulation S-K:

Exhibit                            Description
-------                            -----------

 3.1*      Certificate of Incorporation filed with the Secretary of State of
           Delaware on October 20, 2006 (Exhibit 3.1 to the Company's
           Registration Statement on Form 10 filed with the Commission on
           October 27, 2009).

 3.2*      By-laws of the Company (Exhibit 3.2 to the Company's Registration
           Statement on Form 10 filed with the Commission on October 27, 2009).

14*        Code of Ethics (Exhibit 14 to the Company's Annual Report on Form
           10-K for the Fiscal Year Ended December 31, 2009, filed with the
           Commission on March 5, 2010).

31.1**     Certification under Section 302 of Sarbanes-Oxley Act of 2002.

32.1**     Certification under Section 906 of Sarbanes-Oxley Act of 2002.

----------
*  Exhibits incorporated herein by reference. File No. 000-53807.
** Filed herewith.

                                       17
<PAGE>
                                   SIGNATURES

     In accordance  with 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.

                                SavWatt USA, Inc.


Dated: November 5, 2010              /s/ Isaac H.  Sutton
                                     -------------------------------------------
                                 By:  Isaac H.  Sutton
                                 Its: President

     In accordance  with the  Securities  Exchange Act of 1934,  this report has
been signed below by the following  persons on behalf of the  Registrant  and in
the capacities and on the dates indicated.


Dated: November 5, 2010                  /s/ Isaac H.  Sutton
                                     -------------------------------------------
                                 By:  Isaac H.  Sutton
                                 Its: President
                                      (Principal Executive Officer)
                                      (Principal Financial Officer and Principal
                                      Accounting Officer)


                                       18