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

                                    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 March 31, 2011
                                       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
         (State or other Jurisdiction of Incorporation or Organization)

                       1100 Wicomico Street, Baltimore MD
                    (Address of principal executive offices)

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

                                   27-2478133
                      (I.R.S. Employer Identification No.)

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 May 19, 2011 , there were 669,761,367 outstanding shares of the
Registrant's Common Stock, $0.0001 par value.
<PAGE>
                           OTHER PERTINENT INFORMATION

When used in this report, the terms "SavWatt." the Company", " we", "our", and
"us" refers to SavWatt USA, Inc., a Delaware corporation formerly known as
Ludvik Capital, Inc., and our subsidiary. The information which appears on our
web site is not part of this report.

           CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this report contain or may contain forward-looking
statements that are subject to known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. These forward-looking
statements were based on various factors and were derived utilizing numerous
assumptions and other factors that could cause our actual results to differ
materially from those in the forward-looking statements. These factors include,
but are not limited to, our ability to raise sufficient capital to fund our
ongoing operations and satisfy our obligations as they become due, including
approximately $1 million of past due notes, our ability to generate any
meaningful revenues, our ability to compete within our market segment, our
ability to implement our strategic initiatives, economic, political and market
conditions and fluctuations, government and industry regulation, interest rate
risk, U.S. and global competition, and other factors. Most of these factors are
difficult to predict accurately and are generally beyond our control. You should
consider the areas of risk described in connection with any forward-looking
statements that may be made herein. Readers are cautioned not to place undue
reliance on these forward-looking statements and readers should carefully review
this report in its entirety, as well as our annual report on Form 10-K for the
year ended December 31, 2010 including the risks described in Part I. Item 1A.
Risk Factors of that report. Except for our ongoing obligations to disclose
material information under the Federal securities laws, we undertake no
obligation to release publicly any revisions to any forward-looking statements,
to report events or to report the occurrence of unanticipated events. These
forward-looking statements speak only as of the date of this report, and you
should not rely on these statements without also considering the risks and
uncertainties associated with these statements and our business.

                                       2
<PAGE>
                                      INDEX

PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements                                                 4

          Consolidated Balance Sheets as of March 31, 2011 (Unaudited) and
          December 31, 2010 (Audited)                                          4

          Consolidated Statements of Operations for the Three Months
          ended March 31, 2011 and 2010 and, for the Period from
          October 20, 2006 (Inception) to March 31, 2011 (Unaudited)           5

          Consolidated  Statements of Cash Flows for the Three Months Ended
          March 31, 2011 and 2010, and for the Period from October 20, 2006
          (Inception) to March 31, 2011 (Unaudited)                            6

          Notes to Consolidated Financial Statements as of
          March 31, 2011 (Unaudited)                                           7

Item 2.   Management's Discussion and Analysis of Financial Condition and
          Results of Operations                                               18

Item 3.   Quantitative and Qualitative Disclosures about Market Risk          19

Item 4.   Controls and Procedures                                             20

PART II - OTHER INFORMATION

Item 1.   Legal Proceedings                                                   20

Item 1A.  Risk Factors                                                        20

Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds         20

Item 3.   Defaults Upon Senior Securities                                     20

Item 4.   (Removed and Reserved)                                              20

Item 5.   Other Information                                                   20

Item 6.   Exhibits                                                            21

SIGNATURES                                                                    21

                                       3
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEETS
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                March 31,             December 31,
                                                                                  2011                   2010
                                                                              ------------           ------------
                                                                               (Unaudited)             (Audited)
<S>                                                                           <C>                    <C>
                                     ASSETS
CURRENT ASSETS:
  Cash                                                                        $     27,163           $      2,422
  Accounts receivable                                                                1,835                    619
  Inventory                                                                         42,853                 42,853
  Related party receivable                                                             207                     --
  Other current assets                                                              85,741                 32,200
                                                                              ------------           ------------
      TOTAL CURRENT ASSETS                                                         157,799                 78,094
                                                                              ------------           ------------
Equipment                                                                           22,985                 10,803
                                                                              ------------           ------------

      TOTAL ASSETS                                                            $    180,784           $     88,897
                                                                              ============           ============

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
  Accounts payable and accrued expenses                                       $    171,986           $    112,318
  Due to related party                                                             666,253                504,600
  Stockholder loan payable                                                         502,771              1,129,698
  Accrued interest - stockholder                                                   220,552                175,596
  Loan payable                                                                     100,000                 50,000
  Convertible debt, net of debt discount of $91,000 and $0                         367,273                200,000
                                                                              ------------           ------------
      TOTAL CURRENT LIABILITIES                                                  2,028,835              2,172,212
                                                                              ------------           ------------
Long term convertible debt, net of debt disount of $25,000 and $0                       --                     --
                                                                              ------------           ------------
      TOTAL LIABILITIES                                                          2,028,835              2,172,212
                                                                              ------------           ------------

STOCKHOLDERS' DEFICIT
  Preferred stock, $0.0001 par value, 200,000,000 shares authorized;
   5,000,000 issued and outstanding                                                    500                     --
  Common stock, $0.0001 par value, 2,000,000,000 shares authorized,
   326,837,722 issued and 307,133,826 outstanding and 167,531,786
   shares issued and outstanding, respectively                                      30,712                 16,752
  Additional paid-in capital                                                   (38,705,652)            37,120,142
  Accumulated deficit during development stage                                 (40,526,561)           (39,203,264)
                                                                              ------------           ------------
      TOTAL STOCKHOLDERS' DEFICIT - SAVWATT USA                                 (1,789,697)            (2,066,370)
                                                                              ------------           ------------
Noncontrolling interests                                                           (58,353)               (16,945)
                                                                              ------------           ------------
      TOTAL STOCKHOLDERS' DEFICIT                                               (1,848,050)            (2,083,315)
                                                                              ------------           ------------

      TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                             $    180,784           $     88,897
                                                                              ============           ============
</TABLE>


            See accompanying notes to unaudited financial statements.

                                       4
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                    From Inception
                                                               Three Months       Three Months    (October 20, 2006)
                                                                  Ended              Ended             through
                                                                 March 31,          March 31,          March 31,
                                                                   2011               2010               2011
                                                               ------------       ------------       ------------
                                                                (Unaudited)        (Unaudited)        (Unaudited)
<S>                                                            <C>                <C>                <C>
REVENUES                                                       $      3,784       $         --       $      7,843
                                                               ------------       ------------       ------------
EXPENSES
  General and administrative                                        292,143             90,000            586,421
  Professional fees                                                 170,965                 --          1,888,171
  Bad debt expense-related party                                         --                 --            218,636
  Stock based compensation                                           62,250                 --         36,073,619
                                                               ------------       ------------       ------------
TOTAL EXPENSES                                                      525,358             90,000         38,766,847
                                                               ------------       ------------       ------------
LOSS FROM OPERATIONS                                               (521,574)           (90,000)       (38,759,004)
                                                               ------------       ------------       ------------
OTHER INCOME (EXPENSE)
  Other income                                                           --                 --              5,010
  Interest expense                                                  (34,109)                --            (67,329)
  Interest expense-stockholder                                      (44,956)          (298,335)          (947,969)
  Loss on settlement of related party debt                          (10,000)                --            (10,000)
  Amortization of debt discount                                    (359,000)                --           (359,000)
  Debt conversion expense                                          (395,066)                --           (446,622)
                                                               ------------       ------------       ------------
TOTAL OTHER INCOME (EXPENSE)                                       (843,131)          (298,335)        (1,825,910)
                                                               ------------       ------------       ------------
NET LOSS                                                         (1,364,705)          (388,335)       (40,584,914)

NET LOSS ATTRIBUTABLE TO  NONCONTROLLING INTERESTS                   41,408                 --             58,353
                                                               ------------       ------------       ------------

NET LOSS ATTRIBUTABLE TO SAVWATT USA, INC                      $ (1,323,297)      $   (388,335)      $(40,526,561)
                                                               ============       ============       ============

NET LOSS PER SHARE, BASIC AND DILUTED                          $      (0.01)      $      (0.00)
                                                               ============       ============
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING,
 BASIC AND DILUTED                                              215,601,052         79,474,175
                                                               ============       ============
</TABLE>


           See accompanying notes to unaudited financial statements.

                                       5
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                         (A Development Stage Company)
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                                                                      From Inception
                                                                                                    (October 20, 2006)
                                                                       For the Three Months              through
                                                                  March 31,           March 31,          March 31,
                                                                    2011                2010               2011
                                                                ------------        ------------       ------------
                                                                 (Unaudited)         (Unaudited)        (Unaudited)
<S>                                                             <C>                 <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                      $ (1,323,297)       $   (944,437)      $(40,526,561)
  Adjustments to reconcile net loss to net cash
   used in operating activities:
     Net loss attributable to non controlling interest               (41,408)                 --            (58,353)
     Stock issued for services                                        62,250              50,000          1,433,576
     Stock issued for interest                                        14,000                  --             35,249
     Stock based compensation                                             --             350,001         34,700,044
     Bad debt expense - related party                                     --                  --            218,636
     Loss on settlement of related party debt                         10,000                  --             10,000
     Amortization of debt discount                                   359,000                  --            359,000
     Debt modification expense                                       395,066                  --            446,622
  Increase (decrease) in cash flows as a result of
   changes in asset and liability account balances:
     Related party receivable                                           (207)                 --               (207)
     Accounts receivable                                              (1,214)                 --             (1,835)
     Inventory                                                            --                  --            (42,852)
     Other current assets                                            (53,541)                 --            (85,741)
     Accounts payable and accrued expenses                            59,665                  --            171,983
     Due to related party                                            436,653                  --            722,618
     Stockholder loan payable                                             --             360,000          1,260,000
     Accrued interest-stockholder                                     44,956             184,436            947,969
                                                                ------------        ------------       ------------
      TOTAL ADJUSTMENTS                                            1,285,220             944,437         40,116,709
                                                                ------------        ------------       ------------
           NET CASH USED IN OPERATING ACTIVITIES                     (38,077)                 --           (409,852)
                                                                ------------        ------------       ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of computer equipmnet                                    (12,182)                 --            (22,985)
                                                                ------------        ------------       ------------
           NET CASH PROVIDED BY FINANCING ACTIVITIES                 (12,182)                 --            (22,985)
                                                                ------------        ------------       ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from issuance of common stock                                  --                  --            335,000
  Proceeds from issuance of convertible debt                          75,000                  --             75,000
  Proceeds from issuance of loan payable                                  --                  --             50,000
                                                                ------------        ------------       ------------
           NET CASH PROVIDED BY FINANCING ACTIVITIES                  75,000                  --            460,000
                                                                ------------        ------------       ------------
NET INCREASE IN CASH                                                  24,741                  --             27,163
CASH, BEGINNING OF PERIOD                                              2,422                  --                 --
                                                                ------------        ------------       ------------

CASH, END OF PERIOD                                             $     27,163        $         --       $     27,163
                                                                ============        ============       ============
SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid                                                 $         --        $         --       $         --
                                                                ============        ============       ============
  Income taxes paid                                             $         --        $         --       $         --
                                                                ============        ============       ============
  Stock issued for repayment of shareholder loan                $     35,000        $         --       $    519,250
                                                                ============        ============       ============
  Subscription receivable                                       $         --        $         --       $     20,000
                                                                ============        ============       ============
  Stockholder loan assigned                                     $    580,000        $         --       $    953,469
                                                                ============        ============       ============
  Common stock issued as a result of debt conversion            $    368,654        $         --       $    542,123
                                                                ============        ============       ============
  Debt discount of convertible debt                             $    475,000        $         --       $    475,000
                                                                ============        ============       ============
  Stockholder loan and accrued interest exchanged
   for a short term convertible note                            $         --        $         --       $  1,503,167
                                                                ============        ============       ============
</TABLE>

            See accompanying notes to unaudited financial statements.

                                       6
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

SavWatt USA. Inc.  formerly  known as 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.

Since inception,  the Company has had minimal operations and no revenues earned.
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 a number of asian companies.

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.

GOING CONCERN AND BASIS OF PRESENTATION

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 $1,323,297 for the three months
ended March 31,  2011.  In  addition,  the Company has  incurred a net loss from
inception  (October 20, 2006)  through  March 31, 2011 and  accumulated  deficit
amounting to $40,526,561. Since its inception, the Company has generated minimal
revenues and has minimal cash resources.

These  circumstances  raise  substantial  doubt about the  Company's  ability to
continue  as a going  concern.  The  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 2011 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.

                                       7
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

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 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,  2010.  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
three-month  period ending March 31, 2011 are not necessarily  indicative of the
results that may be expected for the year ended December 31, 2011.

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.

PRINCIPLES OF CONSOLIDATION

The  accompanying  consolidated  financial  statements  include the  accounts of
SavWatt  USA,  Inc.,  as well  as Pro Eco  Solutions,  LLC for the  period  from
November 1, 2010  through  March 31, 2011 and are  prepared in  accordance  with
accounting  principles  generally accepted in the United States ("US GAAP"). All
significant  intercompany  accounts and transactions between the Company and its
subsidiary have been eliminated upon consolidation.

NONCONTROLLING INTERESTS

Noncontrolling  interests in our subsidiary are recorded in accordance  with the
provisions  of ASC 810,  "Consolidation"  and are  reported  as a  component  of
equity.

                                       8
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

DEVELOPMENT STAGE ACTIVITIES

The Company has been in the development stage since its formation.

From the Company's  inception through March 2010, the Company was engaged in the
business  of  providing  long-term  equity and debt  investment  capital to fund
growth,  acquisitions and recapitalizations of small and middle market companies
in a variety of industries,  primarily located in the United States. The Company
during  this time  frame  had been very  active  and had  conducted  substantial
operations,  as  discussed  in our  numerous  reports  with the SEC during  2007
through the present.

In 2010,  the Company  changed its name to SavWatt USA,  Inc. to reflect our new
primary  business of  producing,  marketing  and selling  Light  Emitting  Diode
("LED")  lighting.  In  furtherance  of our new  business,  we have obtained the
exclusive  marketing rights in the United States to sell LED street lighting for
Unilumin,  a  Chinese  company  as  well  as  setting  up its  distribution  and
production center in Maryland.

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,  accounts  receivable,
inventory,  other  assets,  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 March 31, 2011 and December 31, 2010.

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable are stated at the amount the Company expects to collect. The
Company  provides an allowance  for  doubtful  accounts  equal to the  estimated
uncollectible  amounts. The Company's estimate is based on historical collection
experience and a review of the current status of trade accounts  receivable.  It
is reasonably possible that the Company's estimate of the allowance for doubtful
accounts will change.

Accounts  receivable are presented net of an allowance for doubtful  accounts of
$0.

As of  December  31,  2010 the  Company  wrote  off a related  party  receivable
amounting  to $218,636 and recorded a bad debt  expense,  based on  management's
Company's  evaluation of the balance and certainty that the balance would not be
collectible in the future.

PROPERTY AND EQUIPMENT AND DEPRECIATION

Property and equipment are recorded at cost.  Expenditures  for major  additions
and  improvements  are  capitalized  and minor  replacements,  maintenance,  and
repairs are charged to expense as  incurred.  When  property and  equipment  are
disposed of, the cost and accumulated depreciation are removed from the accounts
and any resulting  gain or loss is included in the results of operations for the
respective period.

Depreciation  is provided  for over the  estimated  useful  lives of the related
asset using the  straight-line  method. As of March 31, 2011 the Company has not
recorded  depreciation  since the production  equipment  purchased has yet to be
utilized.

The estimated useful lives for significant  equipment categories are from 3 to 5
years.

                                       9
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

INVENTORY

The Company's inventory consists of entirely of finished goods, and is valued at
lower of cost or market  price.  Cost is  determined  on a  first-in,  first-out
("FIFO") basis.  To ensure  inventory is carried at the lower of cost or market,
the Company  periodically  evaluates  the carrying  value and also  periodically
performs  an  evaluation  of  inventory  for excess  and  obsolete  items.  Such
evaluations  are  based on  management's  judgment  and use of  estimates.  Such
estimates  incorporate  inventory  quantities  on-hand,  aging of the inventory,
sales  forecasts for  particular  product  groupings,  planned  dispositions  of
product lines and overall industry trends.

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 earned minimal
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 from Inception (
October 20, 2006) through March 31, 2011 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

                                      10
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

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.

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.

                                       11
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

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 March 31, 2011 and December 31, 2010.

The Company  discloses the estimated  fair values for all financial  instruments
for which it is practicable to estimate fair value.  As of December 31, 2010 and
March 31,  2011,  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.

NOTE 4 - OTHER ASSETS

Other assets is comprised of the following:

                    Deposits for Inventory          $50,000
                    Prepaid Rent                     12,620
                    Other deposits                   23,121
                                                    -------

                                                    $85,741
                                                    =======

NOTE 5 -STOCKHOLDER LOANS

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,  Frank Kristan resigned
as President and Director of the Company.

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.

                                       12
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

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
            Value of shares issued for payment             (484,250)
                                                        -----------

                                                        $ 1,503,167
                                                        ===========

This note was  payable on June 30,  2010 and bears an  interest  rate of 12% per
annum payable at the end of the term. Upon default, the unpaid 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  December  31,  2010  and as of the  date of this  filing,  this  note was in
default.  In April  2011,  the  Company  received  a waiver of the  default  and
extended the due date of the note to December 31, 2011,  at an interest  rate of
18%.

In the 3rd and 4th  quarter of 2010 this  stockholder  assigned  $373,469 of the
loan payable to investors (as discussed in Note 9)

In the 1st quarter 2011, the stockholder  assigned  $580,000 of the loan payable
to investors and converted $46,927 into 4,692,700 shares of common stock.

As of March 31, 2011, the stockholder  loan balance and related accrued interest
amounted to $502,771 and $220,552, respectively.

NOTE 7 - RELATED PARTY TRANSACTIONS

On March 31,  2010,  Isaac H. Sutton was elected to the Board of  Directors  and
currently serves as the Company's new President and sole director.

As of  December  31,  2010,  the Company  recorded  $30,000  expense  related to
consulting fees earned by the Company's President for 6 months.

During the Period of April 1, 2010 - December  31,  2010,  the Company  received
short term funding from Sutton Global Associates, Inc., which is a related party
since this company is controlled by Isaac H. Sutton the Company's  President and
Sole  Director.  As of December  31, 2010,  the Company owes  $479,600 to Sutton
Global Associates, Inc.

During 2010, the Company advanced certain monies to GoIP Global, a related party
controlled by Isaac H. Sutton the Company's President and Sole Director, to fund
its operations.  In addition, the Company entered into a one year agreement with
GoIP where as GoIP provided  messaging  services to the Company.  As of December
31, 2010, the Company's payable related to these services amounted to $25,000.

As of March 31, 2011, there is no balance owing to or from GoIP Global.

                                       13
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

In December  2010,  the Company  wrote off $218,636 due from another  affiliated
company SavWatt Industries,  LLC, a company later controlled by Isaac H. Sutton.
The original  owners are now  employees of the Company.  The Company  determined
that this amount would not be collectible and therefore  recorded this amount as
bad debt expense.

In the three  months  ending  March 31, 2011,  the Company  received  short term
funding  from Sutton  Global  Associates,  Inc. of  approximately  $430,000.  In
January 2011, Sutton Global converted  $250,000 of debt into 5,000,000 shares of
Preferred  Series A stock. As of March 31, 2011 the balance due to Sutton Global
amounted to $666,253.

NOTE 8 - NONCONTROLLING INTEREST

In  November  2010 the Company  formed a joint  venture in the form of a limited
liability  company Pro Eco Solutions LLC ("LLC"),  whose purpose is specializing
in  comprehensive  support  services  for  all  energy  services  companies  and
performance  contractors.  The Company is a 50.1% member/owner and the Company's
President,  Ike Sutton is also the chief executive  officer of the LLC. Pursuant
to the agreement,  the members'  initial  contribution to the company capital is
$10,000 of which 50.1% or $5,050 relates to the Company's  portion.  The initial
contribution is payable in cash or in the form of a note payable on December 31,
2011.  The  Company  and the non  controlling  LLC has yet to make this  initial
contribution.  The Company has committed to fund the LLC an additional  $250,000
over the next 12 months.

As of March 31, 2011 the Company has funded approximately  $49,892.  This amount
has  been  eliminated  upon  consolidation.  The net  loss  attributable  to the
non-controlling  interest  amounted  to  $41,408  as  of  March  31,  2011.  The
non-controlling carrying value as of March 31, 2011 amounted to $58,353 as shown
in the accompanying balance sheet.

NOTE 9 - DEBT

Short term Convertible Debt

In August 2010 through December 2010 a stockholder assigned $373,469 of his loan
payable to investors  transferring  all the rights and interests of the original
note (as disclosed in Note 6). As of December 31, 2010 the assignee debt holders
have converted  $173,469 of their outstanding debt into 18,374,278 shares of the
Company's common stock resulting in the loan payable balance of $200,000.

During the quarter  ending  March 31,  2011,  the Company  entered  into several
short-term convertible notes as a resulting from the assignment of a stockholder
loan  payable with a total face amount of  $580,000.  These notes bear  interest
rates  ranging from 5% to 18% payable in full in twelve months or less and which
were  convertible  into shares of Company's  common stock at prices ranging from
$0.01 to $0.00275 per share.

In accordance  with ASC 470, the Company  recorded a discount for the Beneficial
Conversion  Feature ("BCF") on the convertible debt amounting to $450,000 and is
amortized  over the life of the  debentures.  The  Company  recorded  a discount
amortization  expense  for the BCF of  approximately  $359,000  with a remaining
unamortized balance of the discount of approximately $91,000.

As of March 31,  2011  $321,727 of these  short term notes were  converted  into
124,309,340  shares of the  Company's  common  stock.  Some of these  notes were
converted  at a cost less than the stated  conversion  price and as a result the
Company  recorded an expense related to the modification of the conversion price
amounting to approximately $395,000.

As of March 31, 2011 the balance of the Company's short term  convertible  notes
amounted to $367,273, net of the remaining debt discount of $91,000.

                                       14
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

The interest on these  debentures is accrued and due at the end of the term. The
accrued interest  amounted to approximately  $30,000 and is included in accounts
payable and accrued expenses.

LONG TERM CONVERTIBLE DEBT

On March 31, 2011,  the Company  received  proceeds and entered into a long-term
convertible note with a total face amount of $25,000 bearing an interest rate of
5% payable in full in eighteen months and  convertible  into shares of Company's
common stock at $0.001 per share.

In accordance  with ASC 470, the Company  recorded a discount for the Beneficial
Conversion  Feature ("BCF") on the convertible  debt amounting to $25,000 and is
amortized  over the life of the  debentures.  The  Company  recorded  a discount
amortization   expense  for  the  BCF  of  approximately  $0  with  a  remaining
unamortized balance of the discount of approximately $25,000.

As of March 31, 2011 the balance of the  Company's  long term  convertible  note
amounted to $0, net of the remaining debt discount of $25,000.

The interest on this debenture is accrued and due at the end of the term.

LOANS PAYABLE

In October 2010, the Company entered into a secured promissory note for $50,000.
The note is  payable  within 90 days and bears an  interest  rate of 5%,  due at
maturity.  In addition to the 5% interest rate the Company issued 500,000 shares
of its common stock as additional consideration. The shares issued are valued at
$21,249 and recorded as interest expense.

In February  2011, the Company  received  proceeds and entered into a promissory
note for $50,000. The terms of this note have yet to be determined.

As of March 31,  2011 the balance of the  Company's  loans  payable  amounted to
$100,000.

The interest on this debt is accrued and due at the end of the term. The accrued
interest  amounted to  approximately  $2,000 and is included in accounts payable
and accrued expenses.

NOTE 10 - EQUITY TRANSACTIONS FROM INCEPTION

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 .

                                       15
<PAGE>
                                SavWatt USA, Inc.
                           f/k/a Ludvik Capital, Inc.
                           (Development Stage Company)
                   Notes to Consolidated Financial Statements
             From Inception, October 20, 2006 through March 31, 2011
                                   (Unaudited)
--------------------------------------------------------------------------------

In April 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  and  200,000,000  shares of preferred
stock.

 In January 2011, Sutton Global converted $250,000 of debt into 5,000,000 shares
of Preferred Series A stock.

The issuance of common stock from  inception,  October 20, 2006 through the year
ended December 31, 2010 is summarized in the table below:

<TABLE>
<CAPTION>
                                                                   Number of                         Per Share
                                                                   of shares       Fair Value at     Value at
                                                                  common stock       Issuance        Issuance
                                                                  ------------       --------        --------
<S>                                                                <C>             <C>             <C>
Stock issued upon merger in accordance with Court Order            40,000,000      $    20,000     $    0.0005
Stock issued in connection with acquisition                            24,196               --              --
Stock issued for services                                          38,905,710       13,061,326      .0395-5.52
Stock issued to retire debt - Shareholder loans                    32,394,269       23,494,294       .040-1.01
Common stock issued for cash                                       37,333,333          315,000        .003-.01
Fair value of common stock issued for interest                        500,000           21,249          0.0425
Common stock issued pursuant to note holder debt
 conversion                                                        18,374,278          173,469        .009-.01
                                                                  -----------      -----------
                                                                  167,531,786      $37,085,338

The  issuance of common stock during the three month period ended March 31, 2011
is summarized in the table below:

                                                                   Number of                         Per Share
                                                                   of shares       Fair Value at     Value at
                                                                  common stock       Issuance        Issuance
                                                                  ------------       --------        --------
Common stock cancelled                                            (5,000,000)      $      --      $         --
Fair value of common stock issued for services                    12,100,000          62,250       .0033-.0140
Fair value of common stock issued for interest                     1,000,000          14,000             0.014
Fair value of common stock issued for related party debt
settlement                                                         2,500,000          35,000             0.014
Common stock issued pursuant to note holder debt conversion      124,309,340         321,727          .005-.01
Stock issued to retire debt - Shareholder loans                    4,692,700          46,927               .01
                                                                 -----------       ---------
                                                                 139,602,040       $ 479,904
</TABLE>

                                       16
<PAGE>
NOTE 11 - 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.

On February 11, 2011, the Company entered into a lease for approximately  24,561
square feet at 1100 Wicomico Street,  Suite 700,  Baltimore,  Maryland,  under a
written  lease for a term of ten years.  This new facility will be the Company's
new  principal  executive  offices,  as well  as a  manufacturing  and  assembly
facility.  We will not have to pay rent on this facility until February 1, 2012.
Thereaftter, we will pay rent as follows:

February 1, 2012 - January 31, 2013         $ 9,926.74 per month
February 1, 2013 - January 31, 2016         $11,564.14 per month
February 1, 2016 - January 31, 2019         $12,526.11 per month
February 1, 2019 - January 31, 2021         $13,549.49 per month

NOTE 12 - SUBSEQUENT EVENTS

During April and May 2011 the Company recorded the following transactions:

*    Issued  231,447,000  shares of common stock  pursuant to the  conversi0n of
     $295,567 of debt.

*    Issued 42,300,000 shares as collateral for debt.

*    Received  proceeds  amounting to $150,000  related to the issuance of short
     term loans.

*    A shareholder assigned approximately $349,000 of debt to investors.

                                       17
<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
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.

                                       18
<PAGE>
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 March 31, 2011 have been reflected herein.
The results of operations for the period from October 20, 2006 (Inception) to
March 31, 2011 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, 2010 included in our
previously filed Form 10-K.

RESULTS OF OPERATIONS

The Company has generated minimal revenues since its inception, October 20,2006.

FOR THE THREE MONTHS ENDED MARCH 31, 2011 AND 2010

The Company's operations for the three months ended March 31, 2011 and 2010
consist of general and administrative expenses incurred in the amount of
$292,143 and $90,000 respectively and professional fees amounting to $170,965
and $0, respectively.

FOR THE PERIOD FROM OCTOBER 20, 2006 (INCEPTION) TO MARCH 31, 2011.

Expenses from inception consist of professional fees of $1,888,171 and general
and administrative expenses consisting of organization and related expenses of
$586,421 and $36,073,619 related to stock based compensation.

LIQUIDITY AND CAPITAL RESOURCES

We have financed our operations from inception to date through the sale of
common stock, amounting to $335,000, and through the issuance of a $125,000 loan
payable.

We had minimal cash on hand as of March 31, 2011 and a working capital
deficiency of $1,871,036.  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 significant
revenues, and is still considered a development stage company, has experienced
recurring net operating losses and had a net loss of $1,323,297 for the three
months ended March 31, 2011. 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.

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<PAGE>
ITEM 4. CONTROLS AND PROCEDURES

(a) Evaluation of disclosure controls and procedures.

Since the Company has securities registered pursuant to Section 12(g) of the
Securities Exchange Act of 1934 ("Exchange Act"), the Company is responsible for
maintaining, and management is responsible for evaluating, the effectiveness of,
disclosure controls and procedures as provided in Rule 13a-15(e) of the Exchange
Act. Item 307 of the SEC's Regulation S-K requires that our principal executive
and principal financial officer evaluate 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) 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. We conducted an evaluation under the supervision and with the
participation of our management, including Isaac H. Sutton, our chief and
principle executive and financial officer, of the effectiveness of our
disclosure controls and procedures. Based on this evaluation, our principal
executive and financial officer concluded as of March 31, 2011, that our
disclosure controls and procedures have been improved and were effective as of
March 31, 2011.

(b) Changes in Internal Control over Financial Reporting During the quarter
ended March 31, 2011, we did not make any changes in our internal controls over
financial reporting.

                           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.

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<PAGE>
ITEM 6. EXHIBITS

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

EXHIBIT INDEX

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

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

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


                                   SIGNATURES

     In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934, the Registrant has duly caused this amended report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                      SavWatt USA, Inc.


Dated: May 20, 2011                   /s/ Michael Haug
                                      ------------------------------------------
                                      By:  Michael Haug
                                      Its: Chief Executive Officer

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


Dated: May 20, 2011                   /s/ Michael Haug
                                      ------------------------------------------
                                      By: Michael Haug
                                      Its: Chief Executive Officer

                                       21