10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended September 30, 2016

or

¨	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from _______________ to _______________

Commission File Number 333-202234

ME RENEWABLE POWER CORPORATION

(Exact name of registrant as specified in its charter)

Nevada	30-0845224
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)
Puces iela 47 dz. 40, Riga Latvia	LV-1082
(Address of principal executive offices)	(Zip Code)

371-2810-2618

(Registrant’s telephone number, including area code)

JAREX SOLUTIONS CORP.

(Former name, former address and former fiscal year, if changed since last report)

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. x YES    ¨ NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x YES    ¨ NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small 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	o	Accelerated filer	o
Non-accelerated filer	¨ (Do not check if a smaller reporting company)	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) x YES    ¨ NO

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

Check whether the registrant has filed all documents and reports required to be filed by Sections 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

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

7,375,000 common shares issued and outstanding as of November 7, 2016.

ME RENEWABLE POWER CORPORATION

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION.
Item 1.	Financial Statements (Unaudited)	3
Item 2.	Management's Discussion and Analysis of Financial Condition or Plan of Operation.	9
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	13
Item 4.	Controls and Procedures.	13
PART II - OTHER INFORMATION.
Item 1.	Legal Proceedings.	14
Item 1A.	Risk Factors.	14
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	14
Item 3.	Defaults Upon Senior Securities.	14
Item 4.	Mine Safety Disclosures.	14
Item 5.	Other Information.	14
Item 6.	Exhibits.	15
SIGNATURES.		16

 

2

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

The unaudited financial statements of our company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars.

 

3

ME Renewable Power Corporation (formerly Jarex Solutions Corp.)

CONDENSED BALANCE SHEETS

(Unaudited)

	September 30,			December 31,
	2016			2015
ASSETS
CURRENT ASSETS
Cash & cash equivalents	$	19,535		$	14,535
Prepaid expense		3,333			-
TOTAL CURRENT ASSETS		22,868			14,535
Fixed Assets, net of $1,307 and $375 accumulated depreciation		-			932
TOTAL ASSETS	$	22,868		$	15,467
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	430		$	-
Loans from shareholder		37,747			11,074
TOTAL CURRENT LIABILITIES		38,177			11,074
Commitments and Contingencies		-			-
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, $0.001 par value, 75,000,000 shares authorized; 7,375,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively		7,375			7,375
Additional paid in capital		37,199			26,125
Accumulated deficit		(59,883	)		(29,107	)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)		(15,309	)		4,393
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$	22,868		$	15,467

 

The accompanying notes are an integral part of these condensed unaudited financial statements.

 

4

ME Renewable Power Corporation (formerly Jarex Solutions Corp.)

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2016			2015			2016			2015
REVENUE	$	-		$	4,000		$	-		$	4,000
OPERATING EXPENSES
Office and general		2,500			17,165			7,584			17,749
Professional fees		10,994			1,500			23,192			9,500
Total Operating Expenses		13,494			18,665			30,776			27,249
LOSS BEFORE TAXES		(13,494	)		(14,665	)		(30,776	)		(23,249	)
Provision for taxes		-			-			-			-
NET LOSS	$	(13,494	)	$	(14,665	)	$	(30,776	)	$	(23,249	)
LOSS PER COMMON SHARE - BASIC AND DILUTED	$	(0.00	)*	$	(0.00	)*	$	(0.00	)*	$	(0.00	)*
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED		7,375,000			7,486,250			7,375,000			6,500,861

 

* denotes a loss of less than $(0.01) per share.

The accompanying notes are an integral part of these condensed unaudited financial statements.

 

5

ME Renewable Power Corporation (formerly Jarex Solutions Corp.)

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Months Ended
	September 30
	2016			2015
OPERATING ACTIVITIES
Net loss	$	(30,776	)	$	(23,249	)
Adjustment to reconcile net loss to net cash used in operating activities
Changes in operating assets and liabilities:
Prepaid expense		(3,333	)		-
Depreciation		932			266
Accounts payable and accrued liabilities		430			-
NET CASH USED IN OPERATING ACTIVITIES		(32,747	)		(22,983	)
INVESTING ACTIVITIES
Purchase of fixed assets		-			(1,307	)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		-			(1,307	)
FINANCING ACTIVITIES
Proceeds from sale of common stock		-			27,500
Loans from related party		37,747			3,000
NET CASH PROVIDED BY FINANCING ACTIVITIES		37,747			30,500
NET DECREASE IN CASH AND CASH EQUIVALENTS		5,000			6,210
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		14,535			6,030
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	19,535		$	12,240
Supplemental disclosure:
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-
Supplemental cash flow information and noncash financing activities:
Loan forgiven by previous shareholder	$	11,074		$	-

 

The accompanying notes are an integral part of these condensed unaudited financial statements.

 

6

ME Renewable Power Corporation (formerly Jarex Solutions Corp.)

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

September 30, 2016

(Unaudited)

NOTE 1 – NATURE OF OPERATIONS

ME Renewable Power Corporation (the "Company") was incorporated in the State of Nevada under the name Jarex Solutions Corp. on October 28, 2014 ("Inception") and originally intended to commence operations in the business of Automatic Number Plate Recognition (“ANPR’) software development for businesses which have parking zones or access control on their sites. Jarex Solutions Corp. intended to develop software based on the ANPR technologies in Latvia.

On June 14, 2016, the Company merged with its wholly-owned subsidiary ME Renewable Power Corporation, a Nevada corporation, and changed its name from Jarex Solutions Corp. to ME Renewable Power Corporation. The Company now intends to distribute green energy-saving and reusable equipment and materials.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a December 31 fiscal year end.

Unaudited Interim Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year.

While management of the Company believes that the disclosures presented herein are adequate and not misleading, these condensed interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended December 31, 2015.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Prepaid Expenses

Prepaid expenses consist of prepaid filing fees. Prepaid expenses are amortized as the related expense is incurred.

 

7

Basic Income (Loss) Per Share

The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations.

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

For the nine month period ended to September 30, 2016 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in this period.

Recent Accounting Pronouncements

The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

NOTE 3 – GOING CONCERN

The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since Inception (October 28, 2014) resulting in an accumulated deficit of $59,883 as of September 30, 2016 and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock.

NOTE 4 – RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note.

During the nine months ended September 30, 2016 a previous shareholder forgave loans to the Company in the amount of $11,074. The transaction was recorded to additional paid in capital.

During the nine months ended September 30, 2016, the Company was provided loans of $37,747 by a new shareholder.

Loans to shareholders at September 30, 2016 and December 31, 2015 were $37,747 and $11,074, respectively. The advances are non-interest bearing, due upon demand and unsecured.

NOTE 5 – INCOME TAXES

As of September 30, 2016, the Company had net operating loss carry forwards of approximately $59,883 that may be available to reduce future years' taxable income in varying amounts through 2036. Future tax benefits which arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

NOTE 6 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events from September 30, 2016 to the date the financial statements were issued and has determined that there are no items to disclose.

 

8

Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

Unless otherwise specified in this quarterly report, all dollar amounts are expressed in United States dollars and all references to “common stock” refer to shares of our common stock.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean ME Renewable Power Corporation., unless otherwise indicated.

Corporate History

ME Renewable Power Corporation (the "Company") was incorporated in the State of Nevada under the name Jarex Solutions Corp. on October 28, 2014 ("Inception") and originally intended to commence operations in the business of Automatic Number Plate Recognition (“ANPR’) software development for businesses which have parking zones or access control on their sites. Jarex Solutions Corp. intended to develop software based on the ANPR technologies in Latvia.

Our principal office address is located at Puces iela 47 dz.40, Riga, Latvia, LV-1082.

On May 31, 2016, our board of directors approved an agreement and plan of merger to merge with our wholly-owned subsidiary ME Renewable Power Corporation, a Nevada corporation, to effect a name change from Jarex Solutions Corp. to ME Renewable Power Corporation. Our company will remain the surviving company. ME Renewable Power Corporation was formed solely for the change of name.

Articles of Merger to effect the merger and change of name were filed with the Nevada Secretary of State on June 7, 2016, with an effective date of June 14, 2016.

The name change became effective with the Over-the-Counter Bulletin Board at the opening of trading on June 21, 2016. In addition to the change of name, our trading symbol changed to MEPW. Our CUSIP number is 552745 101.

 

9

Current Business

Since the change of control, the Company now intends to develop and manage clean energy solutions and reductions in emissions as well as municipal solid waste through business in China.

Results of Operations

Three and nine months ended September 30, 2016 compared to the three and nine months ended September 30, 2015.

Our operating expenses for the three and nine month periods ended September 30, 2016 and September 30, 2015 are outlined in the table below:

	Three			Three			Nine			Nine
	months			months			months			months
	ended			ended			ended			ended
	September 30,			September 30,			September 30,			September 30,
	2016			2015			2016			2015
Revenue	$	-		$	4,000		$	-		$	4,000
General and Administrative Expenses	$	2,500		$	17,165		$	7,584		$	17,749
Professional fees	$	10,994		$	1,500		$	23,192		$	9,500
Net Loss	$	(13,494	)	$	(14,665	)	$	(30,776	)	$	(23,249	)

Operating Revenues

From October 28, 2004 (date of inception) to September 30, 2016, our company recorded revenue of $4,000 for the three and nine months ended September 30, 2015. No revenues were recorded for the three and nine months ended June 30, 2016.

Operating Expenses and Net Loss

Operating expenses for the three months ended September 30, 2016 were $13,494 compared with $18,665 for the three months ended September 30, 2015. The decrease in operating expenses were attributed to a decrease in general and administrative expenses and an increase in professional fees due to change in the Company’s business plan and decrease in operating activities.

Net loss for the three months ended September 30, 2016 was $13,494 compared with $14,665 for the three months ended September 30, 2015. The net loss decreased by only $1,171 despite of the large decrease in the operating expenses because the Company did not generate revenues in the current period

Operating expenses for the nine months ended September 30, 2016 were $30,776 compared with $27,249 for the nine months ended September 30, 2015. The increase in operating expenses was attributed to an increase in professional fees related to legal and accounting fees incurred in connection with the transfer of ownership, which was partially offset by a decrease in general and administrative expenses due to decrease in operating activity.

Net loss for the nine months ended September 30, 2016 was $30,776 compared with $23,249 for the nine months ended September 30, 2015. The increase in net loss is because the Company did not generate revenues in the current period.

 

10

Liquidity and Capital Resources

Working Capital

	As at			As at
	September 30,			December 31,
	2016			2015
Current Assets	$	22,868		$	14,535
Current Liabilities	$	38,177		$	11,074
Working Capital (deficiency)	$	(15,309	)	$	3,461

Cash Flows

	Nine Months		Nine Months
	Ended		Ended
	September 30,		September 30,
	2016		2015
Net cash used in operating activities	$	32,747	$	22,983
Net cash used in investing activities	$	-	$	1,307
Net cash provided by financing activities	$	37,747	$	30,500
Net increase in cash	$	5,000	$	6,210

As at September 30, 2016, our cash balance was $19,535 and total assets were $22,868 compared to cash balance of $14,535 and total assets of $15,467 as at December 31, 2015. The increase in cash and total assets was due primarily to loans from related parties which provided $37,747 of cash during the nine months ended September 30, 2016.

As at September 30, 2016, we had total liabilities of $38,177 compared with total liabilities of $11,074 as at December 31, 2015. The increase in total liabilities was due to loans received from related parties.

As at September 30, 2016, we had a working capital deficit of $15,309 compared with a working capital of $3,461 as at December 31, 2015. The increase in working capital deficit is due to cash provided by related parties to fund the Company’s operation.

Cashflow from Operating Activities

During the nine months ended September 30, 2016, we used $32,747 of cash for operating activities compared to the use of $22,983 of cash for operating activities during the nine months ended September 30, 2015. The increase was due to increased professional fees, increased office and general expenses, as well as an increase in prepaid expenses of $3,333.

Cashflow from Investing Activities

During the nine months ended September 30, 2016, we did not have any investing activities compared to net cash used in investing activities of $1,307 during the nine months ended September 30, 2015.

Cashflow from Financing Activities

During the nine months ended September 30, 2016, we received proceeds of $37,747 as a loan from a shareholder of our company. During the nine months ended September 30, 2015, we received proceeds of $30,500 from the proceeds of sales of stock of our company and by way of a loan from a related party.

 

11

Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Off-Balance Sheet Arrangements

We have no 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 are material to stockholders.

Future Financings

We expect that working capital requirements will continue to be funded through a combination of our existing funds, further issuances of securities and loans from our principal shareholder. Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

Critical Accounting Policies

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management. Our fiscal year end is December 31.

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period

 

12

Basic Income (Loss) Per Share

Our company computes loss per share in accordance with "ASC-260", "Earnings per Share" which requires presentation of both basic and diluted earnings per share on the face of the statement of operations.

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share give effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

For the nine month period ended to September 30, 2016 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as our company incurred losses in this period.

Recently Issued Accounting Pronouncements

Our company has reviewed all the recently issued, but not yet effective accounting pronouncements and we do not believe any of these pronouncements will have a material impact on our company.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Management’s Report on Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer (our principal executive officer) and our president and chief financial officer (our principal financial officer and principal accounting officer) to allow for timely decisions regarding required disclosure.

As of the end of our quarter covered by this report, we carried out an evaluation, under the supervision and with the participation of our president (our principal executive officer, principal financial officer and principal accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our chief executive officer (our principal executive officer) and our president and chief financial officer (our principal financial officer and principal accounting officer) concluded that our disclosure controls and procedures were not effective in providing reasonable assurance in the reliability of our reports as of the end of the period covered by this quarterly report.

Changes in Internal Control over Financial Reporting

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

13

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Item 1A. Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

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

None.

Item 3. Defaults upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

 

14

Item 6. Exhibits

Exhibit Number	Description
(3)	Articles of Incorporation; Bylaws
3.1	Articles of Incorporation (incorporated by reference to our Registration Statement on Form S-1 filed on February 23, 2015)
3.2	Bylaws (incorporated by reference to our Registration Statement on Form S-1 filed on February 23, 2015)
3.4	Articles of Merger filed with the Nevada Secretary of State on June 7, 2016 with an effective date of June 14, 2016 (incorporated by reference to our Current Report on Form 8-K filed on June 22, 2016)
(10)	Material Contracts
10.1	Software Development Agreement dated February 26, 2015 (incorporated by reference to our Registration Statement on Form S-1/A filed on March 25, 2015)
(31)	Rule 13a-14(a) / 15d-14(a) Certifications
31.1*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
31.2*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer and Principal Accounting Officer
(32)	Section 1350 Certifications
32.1*	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
32.2*	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer and Principal Accounting Officer
101**	Interactive Data File
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

__________

* Filed herewith.

 

15

SIGNATURES

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

		ME RENEWABLE POWER CORPORATION
		(Registrant)
Dated: November 8, 2016	By:	/s/ Anthony Williams
		Anthony Williams
		Chief Executive Officer, Secretary, Treasurer and Director
		(Principal Executive Officer)

Dated: November 8, 2016	By:	/s/ Ka Sing Edmund Yeung
		Ka Sing Edmund Yeung
		President, Chief Financial Officer, Secretary, Treasurer and Director
		(Principal Financial Officer and Principal Accounting Officer)

16

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO
18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Anthony Williams, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ME Renewable Power Corporation;

2. Based on my knowledge, this 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 report;

3. Based on my knowledge, the financial statements, and other financial information included in this 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 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 Rules 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 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 report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this 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 8, 2016

/s/ Anthony Williams

Anthony Williams

Chief Executive Officer

(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO
18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ka Sing Edmund Yeung, certify that:

1. I have reviewed this quarterly report on Form 10-Q of ME Renewable Power Corporation;

2. Based on my knowledge, this 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 report;

3. Based on my knowledge, the financial statements, and other financial information included in this 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 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 Rules 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 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 report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this 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 8, 2016

/s/ Ka Sing Edmund Yeung

Ka Sing Edmund Yeung

President, Chief Financial Officer, Secretary, Treasurer and Director

(Principal Financial Officer and Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Anthony Williams, hereby 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 on Form 10-Q of ME Renewable Power Corporation for the period ended September 30, 2016 (the "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 Report fairly presents, in all material respects, the financial condition and results of operations of ME Renewable Power Corporation.

Dated: November 8, 2016	/s/ Anthony Williams
	Anthony Williams
	Chief Executive Officer (Principal Executive Officer)
	ME Renewable Power Corporation

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to ME Renewable Power Corporation and will be retained by ME Renewable Power Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Ka Sing Edmund Yeung, hereby 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 on Form 10-Q of ME Renewable Power Corporation for the period ended September 30, 2016 (the "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 Report fairly presents, in all material respects, the financial condition and results of operations of ME Renewable Power Corporation.

Dated: November 8, 2016	/s/ Ka Sing Edmund Yeung
	Ka Sing Edmund Yeung
	President, Chief Financial Officer, Secretary, Treasurer and Director (Principal Financial Officer and Principal Accounting Officer)
	ME Renewable Power Corporation

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to ME Renewable Power Corporation and will be retained by ME Renewable Power Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Document And Entity Information
Entity Registrant Name	ME Renewable Power Corp.
Entity Central Index Key	0001627452
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,375,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2016

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CONDENSED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash & cash equivalents	$ 19,535	$ 14,535
Prepaid expense	3,333
TOTAL CURRENT ASSETS	22,868	14,535
Fixed Assets, net of $1,307 and $375 accumulated depreciation		932
TOTAL ASSETS	22,868	15,467
CURRENT LIABILITIES
Accounts payable and accrued liabilities	430
Loans from shareholder	37,747	11,074
TOTAL CURRENT LIABILITIES	38,177	11,074
Commitments and Contingencies
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, $0.001 par value, 75,000,000 shares authorized; 7,375,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	7,375	7,375
Additional paid in capital	37,199	26,125
Accumulated deficit	(59,883)	(29,107)
TOTAL STOCK HOLDERS' EQUITY (DEFICIT)	(15,309)	4,393
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 22,868	$ 15,467

XML

CONDENSED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS
Fixed assets accumulated depreciation	$ 1,307	$ 375
STOCKHOLDERS' EQUITY (DEFICIT)
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	75,000,000	75,000,000
Common Stock, shares issued	7,375,000	7,375,000
Common Stock, share outstanding	7,375,000	7,375,000

XML

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Statements Of Operations
REVENUE			$ 4,000		$ 4,000
OPERATING EXPENSES
Office and general		2,500	17,165	7,584	17,749
Professional fees		10,994	1,500	23,192	9,500
Total Operating Expenses		13,494	18,665	30,776	27,249
LOSS BEFORE TAXES		(13,494)	(14,665)	(30,776)	(23,249)
Provision for taxes
NET LOSS		$ (13,494)	$ (14,665)	$ (30,776)	$ (23,249)
LOSS PER COMMON SHARE - BASIC AND DILUTED	[1]	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED		7,375,000	7,486,250	7,375,000	6,500,861

[1] denotes a loss of less than $(0.01) per share.

XML

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES
Net loss	$ (30,776)	$ (23,249)
Changes in operating assets and liabilities:
Prepaid expense	(3,333)
Depreciation	932	266
Accounts payable and accrued liabilities	430
NET CASH USED IN OPERATING ACTIVITIES	(32,747)	(22,983)
INVESTING ACTIVITIES
Purchase of fixed assets		(1,307)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		(1,307)
FINANCING ACTIVITIES
Proceeds from sale of common stock		27,500
Loans from related party	37,747	3,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	37,747	30,500
NET DECREASE IN CASH AND CASH EQUIVALENTS	5,000	6,210
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	14,535	6,030
CASH AND CASH EQUIVALENTS, END OF PERIOD	19,535	12,240
Supplemental cash flow information and noncash financing activities:
Cash paid for interest
Cash paid for income taxes
Loan forgiven by previous shareholder	$ 11,074

XML

NATURE OF OPERATIONS

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

NOTE 1 - NATURE OF OPERATIONS

ME Renewable Power Corporation (the "Company") was incorporated in the State of Nevada under the name Jarex Solutions Corp. on October 28, 2014 ("Inception") and originally intended to commence operations in the business of Automatic Number Plate Recognition (“ANPR’) software development for businesses which have parking zones or access control on their sites. Jarex Solutions Corp. intended to develop software based on the ANPR technologies in Latvia.

On June 14, 2016, the Company merged with its wholly-owned subsidiary ME Renewable Power Corporation, a Nevada corporation, and changed its namefrom Jarex Solutions Corp. to ME Renewable Power Corporation. The Company now intends to distribute green energy-saving and reusable equipment and materials.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a December 31 fiscal year end.

Unaudited Interim Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q.  Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading.  The results of operations for such interim periods are not necessarily indicative of operations for a full year.

While management of the Company believes that the disclosures presented herein are adequate and not misleading, these condensed interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended December 31, 2015.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Prepaid Expenses

Prepaid expenses consist of prepaid filing fees. Prepaid expenses are amortized as the related expense is incurred.

Basic Income (Loss) Per Share

The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations.

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

For the nine month period ended to September 30, 2016 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in this period.

Recent Accounting Pronouncements

The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

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GOING CONCERN

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

NOTE 3 - GOING CONCERN

The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.  The Company has incurred a loss since Inception (October 28, 2014) resulting in an accumulated deficit of $59,883 as of September 30, 2016 and further losses are anticipated in the development of its business.  Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.  

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock.  

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RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

NOTE 4 - RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note.  

During the nine months ended September 30, 2016 a previous shareholder forgave loans to the Company in the amount of $11,074. The transaction was recorded to additional paid in capital.

During the nine months ended September 30, 2016, the Company was provided loans of $37,747 by a new shareholder.

Loans to shareholders at September 30, 2016 and December 31, 2015 were$37,747 and $11,074, respectively. The advances are non-interest bearing, due upon demand and unsecured.

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INCOME TAXES

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

NOTE 5 - INCOME TAXES

As of September 30, 2016, the Company had net operating loss carry forwards of approximately $59,883 that may be available to reduce future years' taxable income in varying amounts through 2036.  Future tax  benefits  which arise as a result of these losses have not been recognized in these  financial  statements, as their  realization  is determined  not likely to occur and  accordingly, the Company has recorded a valuation  allowance for the deferred tax asset  relating to these tax loss carry-forwards.

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SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

NOTE 6 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events from September 30, 2016 to the date the financial statements were issued and has determined that there are no items to disclose.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2016

Summary Of Significant Accounting Policies Policies

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company has adopted a December 31 fiscal year end.

Unaudited Interim Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q.  Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading.  The results of operations for such interim periods are not necessarily indicative of operations for a full year.

While management of the Company believes that the disclosures presented herein are adequate and not misleading, these condensed interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended December 31, 2015.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Prepaid Expenses

Prepaid expenses consist of prepaid filing fees. Prepaid expenses are amortized as the related expense is incurred.

Basic Income (Loss) Per Share

The Company computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations.

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

For the nine month period ended to September 30, 2016 there were no potentially dilutive debt or equity instruments issued or outstanding and any such shares would have been excluded from the computation because they would have been anti-dilutive as the Company incurred losses in this period.

Recent Accounting Pronouncements

The Company reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

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GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Going Concern Details Narrative
Accumulated deficit	$ (59,883)	$ (29,107)

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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transactions Details Narrative
Loan forgiven by previous shareholder	$ 11,074
Loans from related party	37,747	$ 3,000
Loans from shareholder	$ 37,747		$ 11,074

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INCOME TAXES (Details Narrative)	Sep. 30, 2016 USD ($)
Income Taxes Details Narrative
Net operating loss carry forwards	$ 59,883