| Utah                                                                  |  | 87-9369569                           |
|-----------------------------------------------------------------------|--|--------------------------------------|
| (State or other jurisdiction of incorporation        or organization) |  | (IRS Employer Identification Number) |

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Item 1- Financial Statements

|   | Consolidated Balance Sheet as of March 31,      2007                                          |
|--------|-----------------------------------------------------------------------------------------------|
|   |                                                                                               |
|   | Consolidated Statements      of Operations for the three months ended March 31, 2007 and 2006 |
|   |                                                                                               |
|   | Consolidated Statements of Cash      Flows for the three Months ended March 31, 2007 and 2006 |
|   |                                                                                               |
|   | Notes to Consolidated Financial Statements                                                    |
|   |                                                                                          |

Item 2 - Management's Discussion and Analysis or Plan of Operations
Item 1 - Legal Proceedings
Item 2 - Changes in Securities and Use of Proceeds
Item 3 - Default upon Senior Securities
Item 4 - Submission of Matters to a Vote of Security Holders
Item 5 - Other Information
Item 6 - Exhibits and Reports on Form 8-K
Signatures

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| **Current Assets**                                                                                            |   |    |
|---------------------------------------------------------------------------------------------------------------|--------|---------|
| Cash and Cash Equivalents                                                                                     | $      | 130,360 |
| Accounts receivable                                                                                           |   | 154,568 |
| Inventory                                                                                                     |   | 55,675  |
|                                                                                                          |   |    |
|              **Total        current assets** |   | 340,603 |
|                                                                                                          |   |    |
| Equipment, net of accumulated depreciation                                                                    |   | 2,099   |
| Intangible assets, net of accumulated amortization                                                            |   | 11,745  |
|                                                                                                          |   |    |
|              Total        assets             | $      | 354,447 |
|                                                                                                          |   |    |
|                                                                                                          |   |    |
|                                                                                                                               |   |    |
|------------------------------------------------------------------------------------------------------------------------------------|--------|---------|
| **Liabilities**                                                                                                                    |   |    |
|                                                                                                                               |   |    |
| **Current liabilities**                                                                                                            |   |    |
| Line of credit                                                                                                                     | $      | 22,338  |
| Accounts payable                                                                                                                   |   | 19,527  |
| Income taxes payable                                                                                                               |   | 5,886   |
|                                                                                                                               |   |         |
|              **Total        current liabilities**                 |   | 47,751  |
|                                                                                                                               |   |         |
| **Stockholders' equity**                                                                                                           |   |         |
| Common stock, $.001 par value, 200,000,000        shares             Authorized , 31,230,295 issued and outstanding |   | 31,230  |
| Additional paid-in-capital                                                                                                         |   | 256,770 |
| Retained earnings                                                                                                                  |   | 18,696  |
|                                                                                                                               |   |    |
|              **Total        stockholders' equity**                |        | 306,696 |
|                                                                                                                               |   |         |
|              Total        liabilities and stockholders' equity    | $      | 354,447 |
|                                                                                                                               |   |    |

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|                                                     |   | 2007       |        |        | 2006      |   |
|----------------------------------------------------------|--------|------------|--------|--------|-----------|--------|
|                                                     |   |       |   |   |      |   |
| **Revenue, net**                                         | $      | 474,858    |        | $      | 20,598    |        |
|                                                     |   |       |   |   |      |   |
| **Cost of sales**                                        |        |            |        |        |           |        |
| Merchandise                                              |        | 56,814     |        |        | 18,000    |        |
| Other costs                                              |   | 16,750     |   |   | 448       |        |
|                                                     |   |       |   |   |      |        |
| Total cost of sales                                      |   | 73,564     |        |   | 18,448    |        |
|                                                     |   |       |   |   |      |        |
| Gross margin                                             |        | 401,294    |        |        | 2,150     |        |
|                                                     |        |            |        |        |           |        |
| **Operating expenses**                                   |        |            |        |        |           |        |
| Advertising and promotion                                |        | 74,220     |        |        | 45,404    |        |
| Sales commissions                                        |        | 89,090     |        |        | -         |        |
| General and administrative                               |   | 51,561     |        |   | 26,249    |        |
|                                                     |        |            |        |        |           |        |
| Total operating costs and expenses                       |   | 214,871    |   |   | 71,653    |        |
|                                                     |        |            |        |        |           |        |
| Net income (loss) before provision for income      taxes |        | 186,423    |        |        | (69,503   | )      |
|                                                     |        |            |        |        |           |        |
| Provision for income taxes                               |   | 5,886      |   |   | -         |        |
|                                                     |        |            |        |        |           |        |
| Net income (loss)                                        | $      | 180,537    |        | $      | (69,503   | )      |
|                                                     |        |            |        |        |           |        |
| Net income (loss) per share                              | $      | .006       |        | $      | .046      |        |
|                                                     |        |            |        |        |           |        |
| Weighted average number of shares outstanding            |        | 31,130,512 |        |        | 1,505,034 |        |
|                                                     |   |       |   |   |      |   |
|                                                     |   |       |   |   |      |   |

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|                                                                                                           |   | 2007     |   |   |   | 2006    |   |
|----------------------------------------------------------------------------------------------------------------|--------|----------|--------|--------|--------|---------|--------|
| Cash flows from operating activities                                                                           |   |     |   |   |   |    |   |
| Net income (loss)                                                                                              | $      | 180,537  |   |   | $      | (69,503 | )      |
| Adjustments to reconcile net income (loss)      to net cash                                                    |        |          |   |   |   |         |   |
|    Provided by operating activities:                                                            |        |          |   |   |   |         |   |
|             Depreciation      and amortization     |        | 327      |   |   |   | -       |   |
|    Changes in operating assets      and liabilities                                             |        |          |   |   |   |         |   |
|             Increase      in accounts receivable   |        | (135,125 | )      |   |   | -       |   |
|             Increase      in inventory             |        | (4,713   | )      |   |   | -       |   |
|             Decrease      in accounts payable      |        | (15,663  | )      |   |   | -       |   |
|             Increase      in taxes payable         |   | 5,886    |   |   |   | -       |   |
|                                                                                                           |        |          |   |   |   |         |   |
| Net cash provided (used) by operating activities                                                               |        | 31,249   |   |   |   | -       |   |
|                                                                                                           |        |          |   |   |   |         |   |
| Cash flows from financing activities                                                                           |        |          |   |   |   |         |   |
|             Proceeds      from line of credit, net |   | 9,201    |   |   |   | -       |   |
|                                                                                                           |        |          |   |   |   |         |   |
| Net increase (decrease) in cash and cash equivalents                                                           |        | 40,450   |   |   |   | (69,503 | )      |
|                                                                                                           |        |          |   |   |   |         |   |
| Cash and cash equivalents at beginning      of period                                                          |   | 89,910   |   |   |   | 217,844 |   |
|                                                                                                           |        |          |   |   |   |         |   |
| Cash and cash equivalents at end of period                                                                     | $      | 130,360  |   |   | $      | 148,341 |   |
|                                                                                                           |   |     |   |   |   |    |   |
| Supplemental disclosure of cash flow information:                                                              |        |          |   |   |   |         |   |
|                                                                                                           |        |          |   |   |   |         |   |
| Income taxes paid                                                                                              | $      | -        |   |   | $      | -       |   |
|                                                                                                           |        |          |   |   |   |         |   |
| Interest paid                                                                                                  | $      | 564      |   |   | $      | -       |   |
|                                                                                                           |   |     |   |   |   |    |   |

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|                                                          |   | 2007    |   |   |   | 2006   |
|---------------------------------------------------------------|--------|---------|--------|--------|--------|--------|
| Federal income tax                                            | $      | 3,581   |   |   | $      | -      |
| State income tax                                              |   | 2,305   |   |   |   | -      |
|                                                          |   |    |   |   |   |   |
| Total                                                         | $      | 5,886   |   |   | $      | -      |
|                                                          |   |    |   |   |   |   |
| Income taxes based on statutory      tax rates are as follows |   |    |   |   |   |   |
|                                                          |   |    |   |   |   |   |
| Federal income taxes                                          | $      | 58,242  |   |   | $      | -      |
| State income tax                                              |   | 16,612  |   |   |   | -      |
| Less net operating loss benefit                               |   | (68,968 | )      |   |   | -      |
|                                                          |   |    |   |   |   |        |
| Total                                                         | $      | 5,886   |   |   |   | -      |

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| (a)    | Exhibits                                                                                                        |
|--------|-----------------------------------------------------------------------------------------------------------------|
|   |                                                                                                            |
|   | 31.1 Certification by Michael Forster President      pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|   |                                                                                                                 |
|   | 32.1 Certification by Michael Forster President      pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|   |                                                                                                            |

| (b)    | Reports none |
|--------|--------------|
|   |         |
|   |         |

|  | **POWER SAVE ENERGY COMPANY** |   |
|--|-------------------------------|--------|

|              |                                                                                                                                                                                                                                                                                                                  |   |
|-------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Date: May 9, 2007 | By s/ Michael Forster                                                 |   |
|              |       Michael      Forster                                                                                                                                                                                                                                                              |   |
|              |       Chief Executive      Officer                                                                                                                                                                                                                                                      |   |

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