(X
)
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QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITES EXCHANGE ACT OF
1934
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For
the quarter period ended March 31,
2009
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( )
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TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE EXCHANGE
ACT
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For
the transition period
from to
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Commission
File
number 333-153381
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CETRONE ENERGY
COMPANY
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Nevada
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26-1972677
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(State
or other jurisdiction of incorporation or organization)
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(IRS
Employer Identification
No.)
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11010 East Boundary
Road, Elk, Washington 99009
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(Address
of principal executive
offices)
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509.714.5236
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(Issuer’s
telephone number)
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N/A
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(Former
name, former address and former fiscal year, if changed since last
report)
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Page
Number
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||
PART
1.
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FINANCIAL
INFORMATION
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ITEM
1.
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Financial
Statements (unaudited)
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4
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Balance
Sheet as at March 31, 2009 and December 31, 2008
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F-1
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Statement
of Operations
For
the three months ended March 31, 2009 and for the period January 28, 2008
(Date of Inception) to March 31, 2009 and December 31,
2008
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F-2
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Statement
of Shareholders’ Equity
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F-3
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Statement
of Cash Flows
For
the three months ended March 31, 2009 and for the period January 28, 2008
(Date of Inception) to December 31, 2008
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F-4
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Notes
to the Financial Statements.
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F-5-10
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ITEM
2.
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Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
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5
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ITEM
3.
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Quantitative
and Qualitative Disclosures about Market Risk
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9
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ITEM
4.
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Controls
and Procedures
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9
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ITEM
4T.
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Controls
and Procedures
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10
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PART
11.
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OTHER
INFORMATION
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10
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ITEM
1.
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Legal
Proceedings
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10
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ITEM
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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10
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ITEM
3.
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Defaults
Upon Senior Securities
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10
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ITEM
4.
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Submission
of Matters to a Vote of Security Holders
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10
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ITEM
5.
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Other
Information
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10
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ITEM
6.
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Exhibits
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11
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SIGNATURES.
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12
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(A
Development Stage Company)
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||||||||
BALANCE
SHEET
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||||||||
March
31
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December
31
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|||||||
2008
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2008
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|||||||
(audited)
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(audited)
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|||||||
ASSETS
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||||||||
CURRENT
ASSETS
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||||||||
Cash
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$ | 2,761 | $ | 3,296 | ||||
Total
Current Assets
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2,761 | 3,296 | ||||||
TOTAL
ASSETS
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$ | 2,761 | $ | 3,296 | ||||
LIABILITIES
AND STOCKHOLDERS' EQUITY (DEFICIT)
|
||||||||
CURRENT
LIABILITIES
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||||||||
Accounts
payable
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$ | 6,950 | $ | 2,975 | ||||
Note
payable - related party
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100 | 100 | ||||||
Total
Current Liabilities
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7,050 | 3,075 | ||||||
COMMITMENTS
AND CONTINGENCIES
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- | - | ||||||
STOCKHOLDERS'
EQUITY (DEFICIT)
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||||||||
Common
stock, $0.001 par value; 50,000,000 shares
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||||||||
authorized,
2,228,025 shares issued and outstanding
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||||||||
respectively
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2,228 | 2,228 | ||||||
Additional
paid-in capital
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4,014 | 4,014 | ||||||
Accumulated
deficit
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(10,531 | ) | (6,021 | ) | ||||
Total
Stockholders' Equity (Deficit)
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(4,289 | ) | 221 | |||||
TOTAL
LIABILITIES AND
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||||||||
STOCKHOLDERS'
EQUITY (DEFICIT)
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$ | 2,761 | $ | 3,296 |
CETRONE
ENERGY COMPANY
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||||||||||||
(A
Development Stage Company)
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||||||||||||
STATEMENTS
OF OPERATIONS
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||||||||||||
Period
from
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Period
from
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|||||||||||
Three
Months
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January
28, 2008
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January
28,2008
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||||||||||
Ended
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Through
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(Inception)
to
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||||||||||
March
31
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December
31,
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March
31,
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||||||||||
2009
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2008
(audited)
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2009
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||||||||||
REVENUES
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$ | - | $ | - | - | |||||||
OPERATING
EXPENSES
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||||||||||||
Consulting
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- | 2,000 | 2,000 | |||||||||
Professional
fees
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4,425 | 3,150 | 7,575 | |||||||||
General
and administrative expenses
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85 | 871 | 956 | |||||||||
Total
operating expenses
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4,510 | 6,021 | 10,531 | |||||||||
LOSS
FROM OPERATIONS
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(4,510 | ) | (6,021 | ) | (10,531 | ) | ||||||
OTHER
INCOME (EXPENSES)
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||||||||||||
Other
income
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- | - | - | |||||||||
Interest
income
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- | - | - | |||||||||
TOTAL
OTHER INCOME (EXPENSES)
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- | - | ||||||||||
LOSS
BEFORE TAXES
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(4,510 | ) | (6,021 | ) | (10,531 | ) | ||||||
INCOME
TAX EXPENSE
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- | |||||||||||
NET
LOSS
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$ | (4,510 | ) | $ | (6,021 | ) | (10,531 | ) | ||||
NET
LOSS PER COMMON SHARE,
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||||||||||||
BASIC
AND DILUTED
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$ | $nil | ||||||||||
WEIGHTED
AVERAGE NUMBER
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||||||||||||
OF
COMMON SHARES OUTSTANDING,
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||||||||||||
BASIC
AND DILUTED
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2,228,025 | 1,833,333 |
CETRONE
ENERGY COMPANY
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|||||||||||||||||||||
(A
Development Stage Company)
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|||||||||||||||||||||
STATEMENT
OF STOCKHOLDERS' EQUITY (DEFICIT)
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|||||||||||||||||||||
Additional
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Total
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||||||||||||||||||||
Common
Stock
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Paid-in
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Accumulated
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Stockholders'
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||||||||||||||||||
Shares
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Amount
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Capital
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Deficit
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Equity
(Deficit)
|
|||||||||||||||||
Common
stock issued for cash
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|||||||||||||||||||||
at
$0.001 per share
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5/12/2008
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2,000,000 | $ | 2,000 | $ | $ | $ | 2,000 | |||||||||||||
- | |||||||||||||||||||||
Common
Stock for services
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- | ||||||||||||||||||||
at
$0.01 per share
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3/7/2008
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200,000 | 200 | 1,800 | 2,000 | ||||||||||||||||
- | |||||||||||||||||||||
Common
stock issued for cash
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- | ||||||||||||||||||||
at
$0.08 per share
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12/26/2008
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28,025 | 28 | 2,214 | 2,242 | ||||||||||||||||
- | |||||||||||||||||||||
Net
loss for period ended
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- | ||||||||||||||||||||
December31,
2008
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- | (6,021 | ) | (6,021 | ) | ||||||||||||||||
Balance,
December 31, 2008
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2,228,025 | $ | 2,228 | $ | 4,014 | $ | (6,021 | ) | $ | 221 | |||||||||||
Net
loss for period ended
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- | ||||||||||||||||||||
March
31, 2009
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- | (4,510 | ) | (4,510 | ) | ||||||||||||||||
Balance,
March 31, 2009
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2,228,025 | $ | 2,228 | $ | 4,014 | $ | (10,531 | ) | $ | (4,289 | ) |
CETRONE
ENERGY COMPANY
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||||||||
(A
Development Stage Company)
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||||||||
STATEMENTS
OF CASH FLOWS
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||||||||
Period
from
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||||||||
January
28, 2008
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||||||||
Three
Months Ended
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Through
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|||||||
March
31,
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December
31,
|
|||||||
2009
|
2008
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|||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
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||||||||
Net
gain (loss)
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$ | (4,510 | ) | $ | (6,021 | ) | ||
Common
stock issued for services
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2,000 | |||||||
Adjustments
to reconcile net loss to net cash
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||||||||
provided
(used) by operating activities:
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||||||||
Increase
(decrease) in accounts payable
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3,975 | 2,975 | ||||||
Net
cash provided (used) by operating activities
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(535 | ) | (1,046 | ) | ||||
CASH
FLOWS PROVIDED BY INVESTING ACTIVITIES:
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||||||||
Net
cash used by investing activities
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- | - | ||||||
CASH
FLOWS PROVIDED BY FINANCING ACTIVITIES:
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||||||||
Proceeds
from sale of common stock
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- | 4,242 | ||||||
Proceeds
from note payable - related party
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- | 100 | ||||||
Net
cash provided by financing activities
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- | 4,342 | ||||||
Net
increase (decrease) in cash and cash equivalents
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(535 | ) | 3,296 | |||||
Cash
at beginning of period
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3,296 | - | ||||||
Cash
at end of period
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$ | 2,761 | $ | 3,296 | ||||
SUPPLEMENTAL
CASH FLOW DISCLOSURES:
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||||||||
Income
taxes paid
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$ | - | $ | - | ||||
Interest
paid
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- | - | ||||||
NON-CASH
FINANCING AND INVESTING ACTIVITIES:
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March
31, 2009
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December
31,
2008
|
|||
Net
operating loss carryforward
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$ 10,531
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$ 6,021
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Deferred
tax asset
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3,581
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2,047
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Deferred
tax asset valuation allowance
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$ (3,581)
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$ (2,047)
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Net
deferred tax asset
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-
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-
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3.1
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Articles
of Incorporation (incorporated by reference from CEC’s Registration
Statement on Form S-1 filed on September 9, 2008, Registration No.
333-153381)
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3.2
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By-laws
(incorporated by reference from CEC’s Registration Statement on Form S-1
filed on September 9, 2008, Registration No.
333-153381)
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31.1
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8650
SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL
OFFICER
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32.1
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CERTIFICATION
PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF
THE SARBANES-OXLEY ACT OF 2002
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CETRONE
ENERGY COMPANY
|
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(Registrant)
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Date:
May 14, 2009
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/S/
MICHAEL CETRONE
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Chief
Executive Officer, President and Director Chief Financial Officer, Chief
Accounting Officer, and Director
|
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