**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

  

**FORM 10-Q**

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

  

**For the quarterly period ended September 30, 2009**

  

**[  ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT**

  

**For the transition period from ____________ to____________**

  

**Commission File No. 000-50032**

  

**OAK RIDGE MICRO-ENERGY, INC.**

(Exact name of Registrant as specified in its charter) 
| Colorado

94-3431032

(State or Other Jurisdiction of 

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

incorporation or organization) 

  

3046 East Brighton Place

Salt Lake City, UT 84121

(Address of Principal Executive Offices) 

(801) 556-9928

(Registrant’s telephone number, including area code) 

N/A 

(Former name, former address and former fiscal year, 

if changed since last report) 

Indicate by check mark whether the Registrant has (1) 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 is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one):

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] 

1

**APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY**

**PROCEEDINGS DURING THE PRECEDING FIVE YEARS**

Indicate by check mark whether the Registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Not applicable. 

**APPLICABLE ONLY TO CORPORATE ISSUERS**

Indicate the number of shares outstanding of each of the Registrant’s classes of common stock, as of the latest practicable date:  November 12, 2009 - 74,091,644 shares of common stock.
**PART I**

**Item 1.  Financial Statements**

The Financial Statements of the Registrant required to be filed with this 10-Q Quarterly Report were prepared by management and commence below, together with related notes. In the opinion of management, the Financial Statements fairly present the financial position of the Registrant. 

2

**Oak Ridge Micro-Energy, Inc.**

**(A Development Stage Company)**

**Condensed Consolidated Balance Sheets**

 

September 30, 2009

(Unaudited)

December 31, 2008

(Audited)

**Assets**

 

 

Current assets

 

 

Cash

$500,239

$698,509

Prepaid expenses

-

8,691

Total current assets

 500,329

 707,200

 

 

 

Intangible assets - net

35,439

 17,979

Total assets

$535,678

 $725,179

 

 

 

**Liabilities and Shareholders’ Equity**

 

 

Accounts payable

$19,736

$8,937

Royalty payable

 28,750 

 25,000

Accrued liabilities - related parties

 -

 17,000

Accrued liabilities - other

 15,352

 15,352

Total current liabilities

 63,838

 66,289

Total liabilities

63,838

66,289

 

 

 

**Shareholders’ Equity**

 

 

Common Stock - 100,000,000 authorized at $0.001 par value, 74,091,644 issued and outstanding at September 30, 2009 and December 31, 2008

 74,092 

 74,092

Additional paid-in capital

 17,538,328 

 17,538,328

Deficit accumulated prior to development stage

 (2,319,595)

 (2,319,595)

Deficit accumulated during development stage

 (14,820,985)

 (14,633,935)

Total shareholders’ equity

471,840

 658,890

Total liabilities and shareholders’ equity

 $535,678

$725,179

See accompanying Notes to the Financial Statements.

3

**Oak Ridge Micro-Energy, Inc.**

**(A Development Stage Company)**

**Condensed Consolidated Statements of Operations**

 

For the Three Months Ended

September 30,

For the Nine Months Ended’

September 30,

From Reactivation

[January 1, 1996]

 

2009

2008

2009

2008

to September 30, 2009

Consulting revenues

$       1,375

$1,625

$         1,375

$11,740

$138,251

 

 

 

 

 

 

**Operating expenses:**

 

 

 

 

 

General and administrative

59,464

184,918

169,317

382,283

9,811,954

Research and development

6,605

8,875

19,642

42,902

1,386,738

Sales and marketing

-

137

-

546

 5,061

Depreciation and amortization

2,080

1,028

5,344

35,235

798,190

(Gain)/loss on sale of assets

-

(58,647)

-

(247,689)

4,361,078

Total operating expenses

68,149

136,311

194,293

213,277

16,363,021

Operating loss

 (66,774)

 (134,686)

 (192,918)

 (201,537)

 (16,224,770)

 

 

 

 

 

 

**Other income/(expenses):**

 

 

 

 

 

Interest and other income

1,349

3,081

5,868

11,212

128,862

Interest expense

 - 

 - 

 - 

 - 

 (340,159)

Gain on settlement of debt

 - 

 - 

 - 

 - 

 1,615,082 

Total other income/(expenses)

1,349

3,081

5,868

11,212

(1,403,785)

Net loss

 $(65,425)

$(131,605)

 $(187,050)

$(190,325)

$ (14,820,985)

Basic Loss Per Share

$ (0.01)

$ (0.01)

$ (0.01)

$ (0.01)

 

Basic Weighted Shares Outstanding

74,091,644

72,591,644

74,091,644

72,591,644

 

See accompanying Notes to the Financial Statements.

4

**Oak Ridge Micro-Energy, Inc.**

**(A Development Stage Company)**

**Condensed Consolidated Statements of Cash Flows**

 

September 30

From Reactivation

 

2009

2008

[January 1, 1996] to September 30, 2009

Cash flow from operating activities:

 

 

 

Net loss

  $ (187,050)

$ (190,325)

$ (14,820,985)

Adjustment to reconcile net income/(loss) to net cash from operations:

 

 

 

(Gain)/loss on disposal of assets

-

 (247,689)

4,361,078 

Loss on impairment of patents

-

-

2,857 

Gain on settlement of debt

-

-

(1,615,082)

Issuance of stock for expenses and services

 -

 -

7,301,598 

Depreciation and amortization

5,334

35,235

798,190 

(Increase)/decrease in prepaid expenses

8,691

(11,654)

- 

Increase/(decrease) in accounts payable & royalty payable 

14,548

(35,048)

427,871

(Increase)/decrease in deposits

-

2,200

- 

Increase/(decrease) in accrued liabilities

-

 - 

15,352 

Increase/(decrease) in accrued liabilities – related party

 (17,000) 

 (47,253) 

 (3,191)

Net cash from operating activities

 (175,477)

 (494,534)

 (3,532,312)

 

 

 

 

Cash Flow from investing activities:

 

 

 

Purchase of equipment

 - 

 -

 (1,231,601)

Purchase of intangible assets

(22,793)

(8,860)

(70,794)

Proceeds from sale of equipment

-

713,594

713,595 

Net cash from investing activities

 (22,793)

704,734

 (588,800)

 

 

 

 

Cash flow from financing activities:

 

 

 

Proceeds from stock issued

 - 

 - 

 4,621,351 

Net cash from financing activities

-

 - 

 4,621,351 

Net change in cash and cash equivalents

(198,270)

210,200

500,239 

Cash and cash equivalents, beginning of period

698,509

631,680

- 

Cash and cash equivalents, end of period

$500,239

$841,880

$500,239 

Cash paid for taxes

$0

$0

 

Cash paid for interest

$0

$0

 

See accompanying Notes to the Financial Statements.

5

**Oak Ridge Micro-Energy, Inc.**

**(Development Stage Company)**

**Notes to Condensed Consolidated Financial Statements**

Note 1 – Description of Business

Oak Ridge Micro-Energy, Inc. (referred to hereafter as “the Company” or “Oak Ridge”) was incorporated on August 15, 1986 under the laws of the state of Colorado, with the original name “Vates Corp.”.  Since inception, the Company has completed six name changes resulting in its present name.  With the 2002 acquisition of its sole subsidiary, Oak Ridge Micro-Energy, Inc., a Nevada Corporation (“Oak Ridge Nevada”), the name of the Company was changed from Global Acquisitions, Inc.  The Company has changed the par value of its stock and effected four stock splits.  The accompanying financial statements have been prepared showing the after spilt effect with a par value of $0.001 since inception.

The Company became inactive after 1995 and is considered to be in the development stage after that date. The Company’s principal operation is the further development and commercialization of the rechargeable thin-film lithium battery.

The interim financial data are unaudited; however, in the opinion of the management of the Company, the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of (a) the financial position at September 30, 2009 and December 31, 2008 (b) the results of operations for the three-month and nine-month periods ended September 30, 2009 and 2008, and (c) cash flows for the nine-month period ended September 30, 2009 and 2008.  The financial statements should be read in conjunction with the Company’s annual report on Form 10-K for the year ended December 31, 2008.

The results of operations for the three and nine month periods ended September 30, 2009 are not necessarily indicative of those to be expected for the entire year.

Note 2 – Basic and Diluted Net Income (Loss) Per Share

Loss per common share is based on the weighted-average number of common shares outstanding.  Diluted loss per share is computed using weighted average number of common shares plus dilutive common share equivalents outstanding during the period using the treasury stock method.  There are no common stock equivalents outstanding, thus, basic and diluted loss per share calculations are the same.

Note 3 – Technology License Agreement

On December 28, 2001 the Company entered into a license and royalty agreement to further develop and market a rechargeable thin-film lithium battery for use in a variety of applications, such as, RFID tags for airlines and supply chain management, drug delivery systems and implantable medical devices, and non-volatile memory backup. The terms of the agreement included payments of $90,000 in cash and stock of the Company (completed). 

During 2007, the Company renegotiated the minimum royalty payment to $5,000 per year.  As of September 30, 2009, the Company had accrued a liability of $28,750 for the current and prior year’s minimum royalty payments.

On March 31, 2009, the Company sent a notice of termination to the license holder.  The Company has deemed the license unnecessary based upon the fact that the Company no longer plans to directly participate in the manufacturing process of the thin-film battery.

 

6

**Oak Ridge Micro-Energy, Inc.**

**(Development Stage Company)**

**Notes to Condensed Consolidated Financial Statements**

Note 4 – Stockholders’ Equity

The Company’s only issued and authorized equity shares consist of common stock, par value $0.001. Effective June 1, 2004, the Company affected a one to three forward split of its outstanding common stock, while retaining the current par value of $0.001.  The accompanying financial statements have been prepared retroactively showing the after spilt effect with a par value of $0.001 since inception.

Note 5 – Recent Accounting Pronouncements

In June 2009, the FASB issued guidance under Accounting Standards Codification (“ASC”) Topic 105, “Generally Accepted Accounting Principles” (SFAS No. 168, The FASB Accounting Standards CodificationTM and the Hierarchy of Generally Accepted Accounting Principles). This guidance establishes the FASB ASC as the single source of authoritative U.S. GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. SFAS 168 and the ASC are effective for financial statements issued for interim and annual periods ending after September 15, 2009. The ASC supersedes all existing non-SEC accounting and reporting standards. All other non-grandfathered, non-SEC accounting literature not included in the ASC have become non-authoritative. Following SFAS 168, the FASB will no longer issue new standards in the form of Statements, FSPs, or EITF Abstracts. Instead, the FASB will issue Accounting Standards Updates, which will serve only to update the ASC, provide background information about the guidance, and provide the bases for conclusions on the change(s) in the ASC. The Company adopted ASC 105 effective for its financial statements issued as of September 30, 2009. The adoption of this guidance did not have an impact on the Company’s financial statements but will alter the references to accounting literature within the financial statements. 

In April 2009, the FASB issued guidance under ASC 825-10, Financial Instruments (FSP SFAS 107-1 and APB Opinion No. 28-1, “Interim Disclosures about Fair Value of Financial Instruments”).  This guidance amends FASB Statement No. 107, “Disclosures about Fair Values of Financial Instruments,” to require disclosures about fair value of financial instruments in interim financial statements as well as in annual financial statements.  The guidance is effective for interim periods ending after June 15, 2009. The Company adopted this guidance for the period ending September 30, 2009 and included the required disclosures in Note 6. 

In April 2009, the FASB issued guidance under ASC 820, Fair Value Measurements and Disclosures, (FSP SFAS 157-4, “Determining Whether a Market Is Not Active and a Transaction Is Not Distressed”).  This guidance provides guidelines in determining whether a market for a financial asset is not active and a transaction is not distressed for fair value measurement purposes as defined in the previous standard SFAS 157, “Fair Value Measurements.”  This guidance is effective for interim periods ending after June 15, 2009, and the Company has adopted its provisions for the quarter ended September 30, 2009.  This guidance did not have a significant impact on the Company’s financial statements. 

In April 2009, the FASB issued guidance under ASC 320, Investments – Debt and Equity Securities (FSP SFAS 115-2 and SFAS 124-2, “Recognition and Presentation of Other-Than-Temporary Impairments”).  This guidance provides clarity and consistency in determining whether impairments in debt securities are other than temporary, and modifies the presentation and disclosures surrounding such instruments.  This guidance is effective for interim periods ending after June 15, 2009, and the Company has adopted its provisions for the quarter ended September 30, 2009.  This guidance did not have a significant impact on the Company’s financial statements.

7

**Oak Ridge Micro-Energy, Inc.**

**(Development Stage Company)**

**Notes to Condensed Consolidated Financial Statements**

Note 5 – Recent Accounting Pronouncements (continued)

In June 2009, the FASB issued guidance under SFAS No. 166, “Accounting for Transfers of Financial Assets – an amendment of FASB Statement No. 140” (“SFAS 166”).  SFAS 166 amends SFAS 140 by including: the elimination of the qualifying special-purpose entity (QSPE) concept; a new participating interest definition that must be met for transfers of portions of financial assets to be eligible for sale accounting; clarifications and changes to the derecognition criteria for a transfer to be accounted for as a sale; and a change to the amount of recognized gain or loss on a transfer of financial assets accounted for as a sale when beneficial interests are received by the transferor.  Additionally, the standard requires extensive new disclosures regarding an entity’s involvement in a transfer of financial assets.  Finally, existing QSPEs (prior to the effective date of SFAS 166) must be evaluated for consolidation by reporting entities in accordance with the applicable consolidation guidance upon the elimination of this concept.  This guidance is effective for the Company beginning on January 1, 2010.  The Company has not yet determined the impact that adoption of this guidance will have on its financial statements.  

In June 2009, the FASB issued guidance under SFAS No. 167, “Amendments to FASB Interpretation No. 46(R)”.  Among other items, this guidance responds to concerns about the application of certain key provisions of FIN 46(R), including those regarding the transparency of the involvement with variable interest entities. This guidance is effective for the Company beginning on January 1, 2010.  The Company has not yet determined the impact that adoption of this guidance will have on its financial statements.

In August 2009, the FASB issued guidance under Accounting Standards Update (“ASU”) No. 2009-05, “Measuring Liabilities at Fair Value”.  This guidance clarifies how the fair value of a liability should be determined.  This guidance is effective for the first reporting period after issuance.  The Company will adopt this guidance as of December 31, 2009.  The Company does not expect the adoption of this guidance to have a material impact on its financial statements. 

Note 6 – Fair Value of Financial Instruments

The Company’s financial instruments consist of cash and cash equivalents and payables.  The carrying amount of cash and cash equivalents and payables approximates fair value because of the short-term nature of these items.  

Note 7– Subsequent Events

In preparing the accompanying financial statements, the Company has reviewed, as determined necessary by the Company’s management, events that have occurred after September 30, 2009, up until the issuance of the financial statements, which occurred on November 13, 2009.

John B. Bates, PhD, our Chief Technical Officer and a director resigned from these positions with us on November 9, 2009; we anticipate executing a Consulting Agreement with Dr. Bates in the near future for his services on an as needed basis.  See our 8-K Current Report dated November 9, 2009, which was filed with the Securities and Exchange Commission on November 13, 2009.

The Company has concluded that no additional recognized or non-recognized subsequent events have occurred since the quarter end September 30, 2009.

8

**Item 2. Management’s Discussion and Analysis or Plan of Operation.**

**Plan of Operation**

We have developed a new, thin-film lithium battery technology for commercial, consumer, industrial, security and military use. Our corporate objective is to capitalize on delivering solutions for the world’s micro-power needs.

The battery is lithium-based and is manufactured to be thinner than common plastic wrap. Like the larger, traditional lithium batteries that power laptops and cell phones, this lithium battery is also rechargeable. Unlike traditional lithium batteries, the thin-film battery is intended for small, hi-tech, low power applications, some of which have not yet been developed or brought to market.

Current anticipated uses include “smart” credit cards, security cards, wireless sensors, radio frequency identification tags, chip memory backup and advanced drug delivery devices. Future applications will grow as the availability of thin-film batteries increases.

The technology has evolved over the past decade at the Oak Ridge National Laboratories (“ORNL”), a U. S. Government laboratory in Oak Ridge, TN. The U. S. Department of Energy has released the technology for commercialization through their licensing agent, UT Battelle LLC. We are one of a number of non-exclusive licensees of this technology. The primary inventor of the technology for ORNL, Dr. John B. Bates, retired from ORNL and was our Chief Technology Officer and a member of our Board of Directors until his resignation on November 9, 2009.

The batteries must be substantially manufactured in the United States, under our licensing agreement (the “Licensing Agreement”), unless a waiver is obtained. There may be exportation limitations into certain countries; there are no environmental compliance issues that we know of; and raw materials and manufacturing equipment are readily available from several vendors in the United States.  

We have now completed our research and development stage and are entering the next stage in which we will focus our energy and resources on marketing and licensing the thin-film battery covered by our various patents to suitable partners across all industries. We have been in contact with several large-scale, multinational companies who have expressed interest in our thin-film battery technology.  This step is stage 3 of our business plan.

We have spent the first several years focusing on enhancing and improving the original core thin-film battery technology and have dedicated the facility in Oak Ridge, TN, to research and development, testing and prototyping. We feel we have reached the stage where all conceivable improvements and enhancements that would be required for product integration into the largest and most profitable markets have been accomplished. Through our testing, we have, among many other accomplishments, replaced the Lipon, the core of the original thin-film battery; changed the composition of the thin-film battery; developed a protective coating that makes it more durable through resistance to oxygen and moisture; improved long-life thin-film battery packages, including getters and methods for making improved long-life thin-film battery packages; developed a new anode-cathode combination (the active battery components which allows for record high temperature cycles of 170 degrees Celsius; and developed a thin-film battery that operates between 2 V and 1 V. 

During the prior several years, numerous large-scale, multinational companies have contacted us with interest in our TFB Technology. We believe our unique patented technology is ready for large-scale production and commercialization into many viable product lines. We intend to move into a strong and aggressive licensing mode. We plan to retain a top IP/licensing sales and marketing company, which specializes in licensing specialized technology to help achieve the goal of integrating the revolutionary TFB Technology into as many applications and product lines as possible. Oak Ridge Micro-Energy is currently in discussion with several companies seeking to integrate our technology into their various product lines and new designs. These companies have expressed an interest in licensing our proprietary TFB Technology.

As an integral part of the marketing process, we are currently considering separating the TFB Technology and marketing divisions by assigning the TFB Technology to a wholly owned subsidiary.  This will enable us to continue to pursue technical advancements to our IP, as well as build a marketing division, which focuses on licensing our TFB Technology.  We are currently searching for an IP and license marketing firm, which specializes in reaching industry leaders in our key target markets and providing research reports and market summaries for exposure and marketing of our TFB Technology to the various industry markets that we believe our TFB Technology will enhance and be in demand.

We are also considering acquiring licensing rights to other products for distribution.

9

**Management’s Discussion and Analysis of Financial Condition and Results of Operations**

Period ended September 30, 2009, compared to period ended September 30, 2008.

**Revenue**

During the three-month period ended September 30, 2009, we had $1,375 in revenue, compared to $1,625 for the three-month period ended September 30, 2008.  During the nine-month period ended September 30, 2009, we had $1,375 in revenue, and $11,740 in revenue for the nine-month period ended September 30, 2008.  Our revenue consisted of consulting agreements with various companies.

**Operating Expenses**

Research and development expenses in the three-month period ended September 30, 2009 were $6,605, compared to $8,875 for the three-month period ended September 30, 2008.  During the nine-month period ended September 30, 2009, were $19,642, compared to $42,902 during the nine-month period ended September 30, 2008. Research and development expense consists mainly of salaries to a small technical staff and materials used in the further development and prototyping of the thin-film lithium battery.  We expect a steady decline in research and development expenses as we continue to unwind our research and development stage, although we will continue to incur small salaries in the research and development department.

General and Administrative expenses were $59,464 in the three-month period ended September 30, 2009, compared to $184,918 in the three-month period ended September 30, 2008.  These expenses totaled $169,317 in the nine-month period ended September 30, 2009, compared to $382,283 in the nine-month period ended September 30, 2008. These charges consisted of rent, utilities, travel expenses, legal and professional charges and other miscellaneous charges related to general business operations.  The reduced charges during 2009 are due mainly to the elimination of our Oak Ridge facility.

**Liquidity**

We incurred a net loss of $65,425 for the three-month period and $187,050 for the nine-month period ended September 30, 2009. As of September 30, 2009, cash on hand totaled $500,239. We believe cash on hand will be sufficient to finance current business operations for at least the next 12 months.

**Off-Balance Sheet Arrangements**

We had no off balance sheet arrangements during the period ended September 30, 2009.

**Forward-looking Statements**

ALL FORWARD-LOOKING STATEMENTS CONTAINED HEREIN, AND SPECIFICALLY UNDER THIS HEADING, ARE DEEMED BY OUR COMPANY TO BE COVERED BY AND TO QUALIFY FOR THE SAFE HARBOR PROTECTION PROVIDED BY THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. STOCKHOLDERS AND PROSPECTIVE STOCKHOLDERS SHOULD UNDERSTAND THAT SEVERAL FACTORS GOVERN WHETHER ANY FORWARD-LOOKING STATEMENT CONTAINED HEREIN WILL BE OR CAN BE ACHIEVED. ANY ONE OF THESE FACTORS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE PROJECTED HEREIN. THESE FORWARD- LOOKING STATEMENTS INCLUDE PLANS AND OBJECTIVES OF MANAGEMENT FOR FUTURE OPERATIONS, INCLUDING PLANS AND OBJECTIVES RELATING TO THE PRODUCTS AND THE FUTURE ECONOMIC PERFORMANCE OF OUR COMPANY. ASSUMPTIONS RELATING TO THE FOREGOING INVOLVE JUDGMENTS WITH RESPECT TO, AMONG OTHER THINGS, FUTURE ECONOMIC, COMPETITIVE AND MARKET CONDITIONS, FUTURE BUSINESS DECISIONS, AND THE TIME AND MONEY REQUIRED TO SUCCESSFULLY COMPLETE DEVELOPMENT PROJECTS, ALL OF WHICH ARE DIFFICULT OR IMPOSSIBLE TO PREDICT ACCURATELY AND MANY OF WHICH ARE BEYOND THE CONTROL OF OUR COMPANY. ALTHOUGH WE BELIEVE THAT THE ASSUMPTIONS UNDERLYING THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN ARE REASONABLE, ANY OF THOSE ASSUMPTIONS COULD PROVE INACCURATE AND, THEREFORE, THERE CAN BE NO ASSURANCE THAT THE RESULTS CONTEMPLATED IN ANY OF THE FORWARD- LOOKING STATEMENTS CONTAINED HEREIN WILL BE REALIZED. BASED ON ACTUAL EXPERIENCE AND BUSINESS DEVELOPMENTS, THE IMPACT OF WHICH MAY 

10

CAUSE OUR COMPANY TO ALTER OUR MARKETING, CAPITAL EXPENDITURE PLANS OR OTHER BUDGETS, WHICH MAY IN TURN AFFECT OUR COMPANY’S RESULTS OF OPERATIONS IN LIGHT OF THE SIGNIFICANT UNCERTAINTIES INHERENT IN THE FORWARD-LOOKING STATEMENTS INCLUDED HEREIN, THE INCLUSION OF ANY SUCH STATEMENT SHOULD NOT BE REGARDED AS A REPRESENTATION BY OUR COMPANY OR ANY OTHER PERSON THAT THE OBJECTIVES OR PLANS OF OUR COMPANY WILL BE ACHIEVED.

 

**Item 3.  Quantitative and Qualitative Disclosures About Market Risk.**

Not required.

**Item 4T.  Controls and Procedures.**

**Evaluation of Disclosure Controls and Procedures**

Our management, with the participation of our chief executive officer and chief financial officer, evaluated the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) under the Exchange Act as of the end of the period covered by this Quarterly Report on Form 10-Q.  In designing and evaluating the disclosure controls and procedures, our management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.  In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs.  The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. 

Based on that evaluation, our chief executive officer and chief financial officer concluded that, as of September 30, 2009, our disclosure controls and procedures were, subject to the limitations noted above, effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules, regulations and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure. 

**Changes in Internal Control over Financial Reporting**

Our management, with the participation of the chief executive officer and chief financial officer, has concluded there were no significant changes in our internal controls over financial reporting that occurred during our last fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. 

 
**PART II - OTHER INFORMATION**

  

**Item 1. Legal Proceedings.**

  

None; not applicable. 

  

**Item 1A.  Risk Factors.**

Not required.

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

  

None; not applicable. 

  

**Item 3. Defaults Upon Senior Securities.**

  

None; not applicable. 

  

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

  

None; not applicable. 

11

**Item 5. Other Information.**

  

John B. Bates, PhD, our Chief Technical Officer and a director resigned from these positions with us on November 9, 2009; we anticipate executing a Consulting Agreement with Dr. Bates in the near future for his services on an as needed basis.  See our 8-K Current Report dated November 9, 2009, which was filed with the Securities and Exchange Commission on November 13, 2009.

**Item 6. Exhibits.**

**Exhibit No. **                       **Identification of Exhibit**

31

  

32 

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act provided by Mark L. Meriwether, President and Director.

Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 provided by Mark L. Meriwether, President and Director. 

**SIGNATURES**

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

  

**Oak Ridge Micro-Energy, Inc.**

*Date:*

*November 13, 2009*

  

*By:*

*/s/Mark L. Meriwether*

  

  

  

  

*Mark L. Meriwether, President and Director*

12

**Exhibit 31-1**

  

**CERTIFICATION PURSUANT TO**

**SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

  

I, Mark L. Meriwether, certify that: 

  

1.   I have reviewed this Quarterly Report on Form 10-Q of Oak Ridge Micro-Energy, Inc.; 

  

2.   Based on my knowledge, this Quarterly Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Quarterly Report; 

  

3.   Based on my knowledge, the financial statements, and other financial information included in this Quarterly Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this Quarterly Report; 

  

4.   The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f) and 15d-15(f)) for the Registrant and have: 

  

a)

designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Quarterly Report is being prepared; 

  

b)

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)

evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this Quarterly Report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this Quarterly Report based on such evaluation; and 

  

d)

disclosed in this Quarterly Report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and 

  

5.   The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions); 

  

a)

all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and 

  

b)

any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting. 

  

    

*Date:*

*November 13, 2009*

  

*By:*

*/s/Mark L. Meriwether*

  

  

  

  

*Mark L. Meriwether, President and Director*

13

**Exhibit 32**

  

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

  

  

  

In connection with the Quarterly Report of Oak Ridge Micro-Energy, Inc. (the “Registrant”) on Form 10-Q for the period ending June 30, 2009, as filed with the Securities and Exchange Commission on the date hereof (the “Annual Report”), I, Mark L. Meriwether, President of the Registrant, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: 

  

(1) The Quarterly Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and 

  

(2) The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. 

  

*Date:*

*November 13, 2009*

  

*By:*

*/s/Mark L. Meriwether*

  

  

  

  

*Mark L. Meriwether, President and Director*

14 |
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