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.

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.

Our principal office address is located at:

No. 19, Jalan Berjaya Baru, Taman Berjaya Baru, 43000 Kajang, Selangor, Malaysia




12

On January 31, 2020, one of the Company's shareholders made a motion and application to be appointed as custodian of the Company based on prior management abandoning its responsibilities to continue making filings at the Nevada Secretary of State's office and for failing to hold a shareholders' meeting in over 4 years and otherwise failing to keep current in its obligations to the Company. Upon motion and application to the District Court, Clark County Nevada, the Court granted the shareholder's request and the shareholder was appointed as custodian for the Company ("Custodian"). As Custodian of the Company, the shareholder was ordered to file an amendment to the Company's articles of incorporation which was filed in conformity with N.R.S. 78.347(4) and the shareholder was ordered to have the Company's charter reinstated in Nevada, to notice and hold a shareholder meeting; to provide a report to the Court of the actions taken at the shareholder meeting; to identify and name a new registered agent in the State of Nevada; to reinstate the Company in the State of Nevada; and the Custodian. In addition to the aforementioned items set forth in the Order Appointing the Custodian, the Custodian was given the power and authority to take any action it deemed reasonable and for the benefit of the Company and its shareholders. The Custodian is now in the process of meeting all of the requirements set forth in the Court Order and filing a motion to terminate its services. Upon granting the motion, the Court will issue an Order acknowledging that the Custodian has performed all of the duties that had been required of it and the management of the Company will revert exclusively to the officers and directors appointed by the Custodian. As of the date of this filing the motion has been granted.

On May 23, 2020, the Custodian as an interim officer acting on behalf of the Company, appointed Karina Garcia Peralta as President, Principal Executive Officer, Principal Financial Officer, Director and Sole officer of the Company.

Effective April 25, 2022, the previous sole officer and director of the company, Karina Garcia Peralta, resigned her positions with the Company. Upon such resignations, Peter Rooney was appointed as Chief Executive Officer, Treasurer and Secretary, and Director of the Company, and H'NH Paik Sun was appointed Director of the Company





Current Business

After 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 intended to distribute green energy-saving and reusable equipment and materials. The Company subsequently ceased these plans and is not currently engaged in any business operations.

After the date of this report, effective April 25, 2022, Friction & Heat, LLC, the previous majority shareholder of the Company, entered into a stock purchase agreement for the sale of 220,000,000 shares of Common Stock of the Company to Tek Financial Limited, organized under the laws of the Cayman Islands. As a result of the acquisition, Tek Financial Limited holds approximately 97% of the issued and outstanding shares of Common Stock of the Company, and as such it is able to unilaterally control the election of our board of directors, all matters upon which shareholder approval is required and, ultimately, the direction of our Company.


















13












Results of Operations

Three months ended March 31, 2022 compared to the three months ended March 31, 2021.

Our operating expenses for the three month period ended March 31, 2022 and March 31, 2021 are outlined in the table below:



                                         Three         Three
                                        months        months
                                         ended         ended
                                       March 31,     March 31,
                                         2022          2021
Revenue                               $       0     $      0
General and Administrative Expenses   $     350     $    300
Professional fees                     $   1,119     $  1,299
Net Operating Loss                    $  (1,469 )   $ (1,599 ))




 Operating Revenues

No revenues were recorded for the three months ended March 31, 2022 and March 31, 2021.

Operating Expenses and Net Loss

Operating expenses for the three months ended March 31, 2022 were $1,469, compared with $1,599 for the three months ended March 31, 2021. The decrease in expenses for the current period was due to an decrease in operating expenses, that included general and administrative expenses and professional fees.

Net loss for the three months ended March 31, 2022 were $1,469, compared with $1,599 for the three months ended March 31, 2021. The decrease in net loss for the current period was due to an decrease in operating expenses. The operating expenses included general and administrative expenses and professional fees.



















14

Liquidity and Capital Resources





Working Capital



                                    As at             As at
                                March    31,      December 31,
                                    2022              2021
Current Assets                 $           0     $           0
Current Liabilities            $      43,589     $      42,120
Working Capital (deficiency)   $     (43,589 )   $     (42,120 )


Cash Flows

                                             Three months     Three months
                                                Ended            Ended
                                                March
                                                 31,          March   31,
                                                 2022             2021

Net cash used in operating activities $ (1,940 ) $ 0 Net cash used in investing activities $ 0 $ 0 Net cash provided by financing activities $ 1,940 $ 0 Net increase in cash

                        $          0     $       0

As at the year ended December 31, 2021, our total assets were $0 and as at March 31, 2022, our total assets were $0.

Liquidity and Capital Resources

As at March 31, 2022, we had total liabilities of $43,589 compared with total liabilities of $42,120 as at December 31, 2021. The increase in total liabilities was due to professional fees, general and administrative expenses and amounts owed to a related party of in the three months ended March 31, 2022.

As at March 31, 2022, we had a working capital deficit of $43,589 compared with a working capital of $42,120 as at December 31, 2021. The working capital deficit is due to amounts owed to a related party and increase in professional fees and general and administrative fees in the three months ended March 31, 2022. At March 31, 2022, we owed Related Party loans of $22,043, Related Party Payable of $14,720 and Accounts Payable of $6,826.

Cash Flow from Operating Activities

During the three months ended March 31, 2022 and March 31, 2021, $1,940 and $0 in cash was used for operating activities, respectively.

Cash Flow from Investing Activities

During the three months ended March 31, 2022 and March 31, 2021, we did not have any investing activities.

Cash Flow from Financing Activities

During the three months ended March 31, 2022 and March 31, 2021, $1,940 and $0 were provided in financing activities, respectively.







15












 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.

The effects of Covid -19 could impact our ability to operate under the going concern and maintain sufficient liquidity to continue operations. The impact of COVID-19 on companies is evolving rapidly and its future effects are uncertain. There are material uncertainties from Covid-19 that cast significant doubt on the company's ability to operate under the going concern. It is possible that our company will have issues relating to the current situation that will need to be considered by management in the future. There will be a wide range of factors to take into account in going concern judgments and financial projections including travel bans, restrictions, government assistance and potential sources of replacement financing, financial health of suppliers and customers and their effect on expected profitability and other key financial performance ratios including information that shows whether there will be sufficient liquidity to continue to meet obligations when they are due.

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.






16

Critical Accounting Policies (Continued)

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.

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 three month period ended to March 31, 2022 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.

© Edgar Online, source Glimpses