SupportSave Solutions 10Q 2010 Q1 Quarterly report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

[X]	Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

	For the quarterly period ended August 31, 2009

[ ]	Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

	For the transition period to __________

	Commission File Number: 333-143901

SupportSave Solutions, Inc.

(Exact name of small business issuer as specified in its charter)

Nevada	98-0534639
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

1451 Danville Blvd., Suite 201

Alamo, CA 94501

(Address of principal executive offices)

(925) 304-4400

(Issuer’s telephone number)

_______________________________________________________________

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

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer 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 (§ 229.405 of this chapter) during the preceeding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

[ ] Large accelerated filer Accelerated filer	[ ] Non-accelerated filer
[X] Smaller reporting company

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [ ] Yes [X] No

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 13,255,198 common shares as of October 12, 2009.

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our consolidated financial statements included in this Form 10-Q are as follows:
F-1	Consolidated Balance Sheets as of August 31, 2009 (unaudited) and May 31, 2009 (audited);
F-2	Consolidated Statements of Operations for the three months ended August 31, 2009 and August 31, 2008 (unaudited);
F-3	Consolidated Statement of Changes in Stockholders’ Equity as of August 31, 2009 and year ended May 31, 2009 (unaudited);
F-4	Consolidated Statements of Cash Flows for the three months ended August 31, 2009 and August 31, 2008 (unaudited);
F-5	Notes to Consolidated Financial Statements;

These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended August 31, 2009 are not necessarily indicative of the results that can be expected for the full year.

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SUPPORTSAVE SOLUTIONS, INC.

(A NEVADA CORPORATION)

CONSOLIDATED BALANCE SHEETS

AUGUST 31, 2009 (UNAUDITED) AND MAY 31, 2009 (AUDITED)

ASSETS	August 31, 2009			May 31, 2009
	(Unaudited)			(Audited)
Current Assets
Cash and cash equivalents	$	766,531		$	474,626
Investment in marketable securities		20,013			98,063
Accounts receivable - trade		40,449			14,932
Accounts receivable - other		-0-			6,200
Prepaid expenses		790			790
Total Current Assets		827,783			594,611

PROPERTY AND EQUIPMENT, NET		143,291			130,546

Other Assets
Security deposits		11,482			7,482
Note receivable - Florida office building		210,000			210,000
Investment in closely held company		16,500			-0-
Deferred income tax		-0-			50,000
Total Other Assets		237,982			267,482

TOTAL ASSETS	$	1,209,056		$	992,639

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities
Accounts payable - trade	$	25,132		$	31,961
Payroll tax withholdings		11,412			-0-
Accrued wages		31,898			25,560
Deferred revenue		907			2,719
Accrued income taxes		14,000			-0-
Total Current Liabilities		83,349			60,240

STOCKHOLDERS' EQUITY
Common stock, $.00001 par value, 100,000,000 shares
authorized, 13,255,198 shares issued and outstanding		132			132
Additional paid-in-capital		1,153,096			1,143,292
Treasury stock		(3,029	)		(64,207	)
Cumulative translation adjustment		(27,103	)		(21,958	)
Retained earnings (deficit)		2,611			(124,860	)
Total Stockholders’ Equity		1,125,707			932,399

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,209,056		$	992,639

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SUPPORTSAVE SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED AUGUST 31, 2009 AND 2008

(UNAUDITED)

	2009			2008
REVENUE
Sales	$	596,804		$	454,460
Less returns and allowances		(5,111	)		(16,562	)

TOTAL REVENUE		591,693			437,898

OPERATING INCOME		446,060			308,740

OPERATING INCOME		145,633			129,158

OTHER INCOME (EXPENSE)
Interest income		3,880			1,826
Other income		125			4,596
Gains/(losses) on sales of investments		24,395			-0-
Gains/(losses) from currency hedging contracts		17,437			(18,895	)
TOTAL OTHER INCOME (EXPENSE)		45,837			(12,473	)

NET INCOME BEFORE PROVISION
FOR FEDERAL INCOME TAX BENEFIT		191,470			116,685

PROVISION FOR FEDERAL INCOME TAX (BENEFIT)		(64,000	)		(39,600	)


NET INCOME	$	127,470		$	77,085

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SUPPORTSAVE SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

AS OF AUGUST 31, 2009 AND YEAR ENDED MAY 31, 2009

(UNAUDITED)

					Additional					Cumulative
	Common Stock				Paid in		Treasury			Translation			Accumulated
	Shares		Amount		Capital		Stock			Adjustment			Deficit			Total

Beginning balance, May 2, 2007		-	$	0	$	0	$	0		$	0		$	0		$	0

Issuances of common stock		11,307,603		113		130,762		-			-			-			130,875

Net loss for the period ended May 31, 2007		-		-		-		-			-			(21,585	)		(21,585	)

Balance, May 31, 2007		11,307,603		113		130,762		0			-			(21,585	)		109,290

Issuances of common stock		1,347,595		13		790,536		-			-			-			790,549

Net loss and translation adjustment for the year ended May 31, 2008		-		-		-		-			(9,833	)		(358,387	)		(368,220	)

Balance, May 31, 2008		12,655,198		126		921,298		0			(9,833	)		(379,972	)		531,619

Issuances of common stock		600,000		6		221,994		-			-			-			222,000

Purchase of treasury stock		-		-		-		(64,207	)		-			-			(64,207	)

Net income and translation adjustment for the year ended May 31, 2009		-		-		-		-			(12,125	)		255,112			242,987

Balance, May 31, 2009		13,255,198		132		1,143,292		(64,207	)		(21,958	)		(124,860	)		932,399

Purchase of treasury stock		-		-		-		(9,017	)		-			-			(9,017	)

Private placement of treasury stock		-		-		9,805		70,195			-			-			80,000

Net income and translation adjustment for the three months ended August 31, 2009		-		-		-		-			(5,145	)		127,470			122,325

Balance, August 31, 2009		13,255,198	$	132	$	1,153,096	$	(3,029	)	$	(27,103	)	$	2,611		$	1,125,707

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SUPPORTSAVE SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED AUGUST 31, 2009 AND 2008

(UNAUDITED)

	Three Months Ended August 31, 2009			Three Months Ended August 31, 2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	127,470		$	77,085
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		12,317			10,845
Changes in assets and liabilities:
Accounts receivable - trade		(25,518	)		6,545
Accounts receivable - other		6,200			-0-
Security deposit		(4,000	)		-0-
Deferred income tax		50,000			-0-
Accounts payable		(6,828	)		(1,800	)
Accrued wages		6,338			-0-
Accrued federal income tax		14,000			39,600
Deferred revenue		(1,812	)		(11,565	)
Payroll tax withholdings payable		11,412			-0-
NET CASH PROVIDED BY OPERATING ACTIVITIES		189,579			120,710

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(25,062	)		(20,732	)
Change in investment in marketable securities		78,050			(11,704	)
Currency translation adjustment		(5,145	)		(3,044	)
NET CASH (USED BY) INVESTING ACTIVITIES		47,843			(35,480	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Private placement of treasury stock		80,000			-0-
Purchase and sale of treasury stock		(9,017	)		-0-
Investment in closely held company		(16,500	)		-0-
Proceeds from loan payable to officer		-0-			1,217
NET CASH PROVIDED BY FINANCING ACTIVITIES		54,483			1,217

NET INCREASE IN CASH AND CASH EQUIVALENTS		291,905			86,447

CASH AND CASH EQUIVALENTS - BEGIN OF YEAR		474,626			436,720

CASH AND CASH EQUIVALENTS - END OF YEAR	$	766,531		$	523,167

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SUPPORTSAVE SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

AUGUST 31, 2009

1.	NATURE OF BUSINESS

SupportSave Solutions, Inc. was incorporated in Nevada on May 2, 2007, and provides offshore business process outsourcing, or BPO, services from an outsourcing center through its wholly-owned subsidiary of the same name, which was incorporated in the Philippines on October 17, 2006 and operates in the Philippines. Both the parent and its subsidiary are hereinafter referred to as "the Company".

The consolidated financial statements of the Company include the accounts of the parent company and its wholly-owned Philippines subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation.

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.	Basis of Presentation

Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. We believe that the disclosures are adequate to make the financial information presented not misleading. These condensed financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended May 31, 2009. All adjustments were of a normal recurring nature unless otherwise disclosed. In the opinion of management, all adjustments necessary for a fair statement of the results of operations for the interim period have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year.

B.	Cash and Cash Equivalents

SupportSave considers all highly liquid investments with maturities of 3 months or less to be cash equivalents.

C.	Property and Equipment

Property and equipment are recorded at cost. Depreciation is provided by straight-line and accelerated methods, over the estimated useful lives of the assets, ranging from 39 years for real estate (building) and 5 to 7 years for furniture and equipment. Normal expenditures for repairs and maintenance are charged to operations as incurred.

D.	Deferred Revenue

Deferred revenue represents advances received on services to be rendered for the period subsequent to August 31, 2009.

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SUPPORTSAVE SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

AUGUST 31, 2009

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

E.	Income Taxes

The Company uses an asset and liability approach to financial accounting and reporting for income taxes. The difference between the financial statements and tax bases of assets and liabilities is determined annually. Deferred income tax assets and liabilities are computed for those differences that have future tax consequences using the currently enacted tax laws and rates that apply to the periods in which they are expected to affect taxable income. Valuation allowances are established, if necessary, to reduce the deferred tax assets to the amount that will more likely than not be realized. Income tax expense is the current tax payable or refundable for the period, plus or minus the net change in the deferred tax assets and liabilities.

F.	Foreign Currency Translation

The functional currency of the Company is the United States Dollar. The financial statements of the Company’s Philippine operations are translated to U.S. dollars using the period exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transaction occurs. Net gains and losses resulting from foreign exchange translations are included in the Statement of operations and changes in stockholders’ equity as other comprehensive income (loss).

G.	Currency Hedging Contract Transactions

The Company's operating expenses consist primarily of salaries, payroll taxes and employee benefit costs paid to the professionals that the Company employs in the Philippines. Since employee related costs are paid in the local currency, the Company is exposed to the risk of foreign currency fluctuations. In an effort to try to minimize the downside risk of fluctuating currency rates, the Company has entered into foreign exchange forward contracts. Any gains or losses from the settled and outstanding forward contracts are recorded as other income/expense in the Statement of operations.

H.	Impairment of Long-Lived Assets

The Company reviews its major assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an asset is considered impaired, then impairment will be recognized in an amount determined by the excess of the carrying amount of the asset over its fair value.

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SUPPORTSAVE SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

AUGUST 31, 2009

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

I.	Financial Instruments

The carrying amounts of financial instruments are considered by management to be their estimated fair values due to their short-term maturities. Securities that are publicly traded are valued at their fair market value based as of the balance sheet date presented.

J.	Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

K.	Advertising Costs

The Company follows the policy of expensing advertising costs as they are incurred.

L.	Treasury Stock

Treasury stock purchases are accounted for under the cost method whereby the entire cost of the acquired stock in recorded as treasury stock. Gains and losses on the subsequent reissuance of shares are credited or charged to capital in excess of par value using the average-cost method.

M.	Basic Loss per Share

Basic loss per share has been calculated based on the weighted average number of shares of common stock outstanding during the period.

N.	Recent Accounting Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

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SUPPORTSAVE SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

AUGUST 31, 2009

3.	COMMON STOCK

The Company issued shares at various times to employees and vendors for services rendered. During the years ended May 31, 2009 and 2008, -0- and 345,350 shares were issued to employees and 600,000 and 401,997 shares were issued to vendors for services rendered. Accordingly, the net increase to the Company’s paid-in-capital was $220,000 and $559,728. All shares issued to both employees and vendors are restricted shares per Rule 144 or Regulation S. Included in operating expenses for these issuances are salaries of $-0- and $251,852 and $220,000 and $307,878 to vendors. No new shares were issued for the three months ended August 31, 2009.

The Company purchased back 266,769 shares of treasury stock for a total cost of $64,207 during the year ended May 31, 2009. The Company purchased an additional 20,500 shares for a total cost of $9,017 during the three months ended August 31, 2009. On August 21, 2009, the Company sold 275,387 shares of this treasury stock for $80,000 through a subscription agreement in a private placement. The proceeds and cost of these shares have been accounted for in additional paid in capital. The remaining 11,882 shares continue to be held as treasury stock, as a reduction to shareholders’ equity.

4.	MARKETABLE SECURITIES

Marketable securities are shown on the balance sheet. The first-in, first-out (FIFO) method is used to determine the cost of each security at the time of sale.

Cost and market value of marketable equity securities at August 31, 2009 are as follows:

Gross

Unrealized Market

Cost Gains/(Losses) Value

August 31, 2009:

Equities/options $ 20,013 $ (19,088) 60; $ 925

5.	NOTES RECEIVABLE - BUILDING

On May 11, 2009, the Company sold its office building for $260,000 on a note receivable. The Company received $50,000 down and the remainder is payable in 23 month interest only installments of $1,225 beginning June 11, 2009, with a balloon payment of the remaining principal and all accrued interest due May 11, 2011. The note will bear interest at 7% per annum is secured by the real property.

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SUPPORTSAVE SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

AUGUST 31, 2009

6.	OPERATING LEASE

The Company leased its facility in Cebu, Philippines at the rate of approximately $2,000 per month. The lease was for a term of one year and expired on August 26, 2007. The Company is leasing the space on a month-to-month basis. The Company began leasing a new facility in Cebu, Philippines on December 1, 2007. The lease is for 5 years at the rate of approximately $3,750 per month. The Company also operates an administrative office in Troy, Michigan. The office facilities are provided at no charge by a friend of an officer of the Company. The Company also leases an office in Alamo, California. The office facilities are provided at no charge by a client of the Company. There can be no assurances that the facilities will continue to be provided at no charge in the future. The Company also leases an office in Boca Raton, Florida for $850 per month, plus tax. The lease expires on October 31, 2009. The Company leased an office in Los Angeles, California, but has abandoned it as of August 31, 2009 for a similar one in the same building. The lease is on a month-to-month basis for $5,000 per month for the three months.

Minimum annual rents for all leases for the next five years are as follows:

Year Ending

May 31, Amount

2010 $ 46,700

2011 45,000

2012 45,000

2013 45,000

2014 45,000

$ 226,700

7.	CONCENTRATION OF CREDIT RISK

The Company maintains cash balances at three financial institutions. At August 31, 2009, the Company’s cash and cash equivalents exceeded federally insured limits by $475,187. Of the total cash and cash equivalents, $8,624 is invested in a broker/dealer money market account.

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SUPPORTSAVE SOLUTIONS, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

AUGUST 31, 2009

8.	INCOME TAXES

The provision for Federal income taxes consists of the following at August 31:

2009 2008

Current expense $ 64,000 $ 39,600

Deferred (benefit) expense (50,000) (89,600)

$ 14,000 $ (50,000)

The cumulative tax effect at the expected rate of 35% of significant items comprising our net deferred tax amount is as follows at August 31:

2009 2008

Deferred tax asset attributable to:

Net operation loss carryover $ -0- $ 89,600

Less: valuation allowance -0- 0; (89,600)

Net deferred tax asset $ -0- $ -0-

At May 31, 2009, the Company has an unused net operating loss carryover approximating $175,000 that is available to offset future taxable income; it expires beginning in 2027.

9.	SUBSEQUENT EVENT

The Company will begin renting a facility located in Los Angeles, California beginning September 1, 2009 at $4,000 per month on a month-to-month basis. A $4,000 security deposit was paid in August 2009.

The Company has analyzed its operations subsequent to August 31, 2009 through October 14, 2009 and has determined that it does not have any material subsequent events to disclose in these financial statements.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

Overview

We provide offshore business process outsourcing, or BPO, services which we deliver primarily to U.S.-based clients from our facilities in the Philippines. BPO services involves contracting with an external organization to take primary responsibility for providing a business process or function, such as customer management, transcription and captioning, processing services, human resources, procurement, logistics support, finance and accounting, engineering, facilities management, information technology and training. These customer care services and solutions are provided by our skilled customer service representatives to small and mid-sized companies in the healthcare, communication, business services, financial services, publishing, and travel and entertainment industries.

Research and Development

We will not be conducting any product research or development during the next 12 months.

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Results of Operations for the three months ended August 31, 2009 and 2008

To become more profitable and competitive, we have to attract more clients, sell our services and generate more revenues.

Our revenue reported for the three months ended August 31, 2009 was $596,804, compared with $454,460 for the three months ended August 31, 2008.

Our revenue generated for all periods was attributable to the sale of our BPO services. The increase in revenues for the three months ended August 31, 2009 from the same period in 2008 is attributable to an increase in the sale of our BPO services as a result of expanding our facilities and operations.

Returns and allowances are refunds for services not provided. Returns and allowances for the three months ended August 31, 2009 amounted to $5,111, compared with $16,562 for the same period ended August 31, 2008.

Our revenue less returns and allowances is our total revenue. Total revenue for the three months ended August 31, 2009 was $591,693, compared with $437,898 for the same period ended August 31, 2008.

Our operating expenses for the three months ended August 31, 2009 was $446,060, compared with $308,740 for the same period ended August 31, 2008. The increase in our operating expenses for the three months ended August 31, 2009 compared with August 31, 2008 is mainly attributable to increased payment for advertising, commissions, computer services, consulting fees, .employee benefits, rent, and salaries, offset by decreased payment for bank charges, legal and accounting fees, and outside services.

We had other income of $45,837 for the three months ended August 31, 2009. Other income for this period consisted mainly of $24,395 in gains on sales of investments, $17,437 in gains from currency hedging transactions and $3,880 in interest income. In comparison, we experienced other expenses of $12,473 for the three months ended August 31, 2008. Other expenses for this period consisted mainly of $18,895 in losses from currency hedging transactions.

We had net income of $127,470 for the three months ended August 31, 2009, compared with net income of $77,085 for the three months ended August 31, 2008.

Liquidity and Capital Resources

As at August 31, 2009, we had $827,783 in current assets and $83,349 in current liabilities. On August 31, 2009, we had working capital of $744,434.

Operating activities provided $189,579 in cash for the three months ended August 31, 2009. Our net income of $127,470, along with depreciation of $12,317, deferred income tax of $50,000 and accrued income tax of $14,000 were the primary components of our positive operating cash flow, offset mainly by accounts receivable of $25,518. Cash flows provided by investing activities during the three months ended August 31, 2009 was $47,843 mainly as a result of $78,050 from a change in investment in marketable securities, offset by $25,062 from the sale of property and equipment. Cash flows provided by financing activities during the three months ended August 31, 2009 was $54,483, largely as a result of $61,178 from the sale of treasury stock.

Currently, our primary source of liquidity is cash flows provided by our operations. We will not require additional capital to execute our plan, unless we expand into additional facilities or grow through the acquisition of complementary businesses. Our current cash flows from operations are sufficient to meet our working capital requirements over the next 12 months.

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Off Balance Sheet Arrangements

As of August 31, 2009, there were no off balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

A smaller reporting company is not required to provide the information required by this Item.

Item 4T. Controls and Procedures

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of August 31, 2009. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer, Christopher Johns, and our Chief Financial Officer, Michael C. Palasick. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of August 31, 2009, our disclosure controls and procedures are effective. There have been no changes in our internal controls over financial reporting during the quarter ended August 31, 2009.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act are recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Limitations on the Effectiveness of Internal Controls

Our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving our objectives and our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective at that reasonable assurance level. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the internal control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.

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PART II – OTHER INFORMATION

Item 1. Legal Proceedings

We are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.

Item 1A: Risk Factors

A smaller reporting company is not required to provide the information required by this Item.

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

On August 21, 2009, we sold 275,387 shares purchased out of the market for $80,000 through a subscription agreement in a private placement. The transaction was exempt under Section 4(2) of the Securities Act of 1933, as amended.

Item 3. Defaults upon Senior Securities

None

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

No matters have been submitted to our security holders for a vote, through the solicitation of proxies or otherwise, during the quarterly period ended August 31, 2009.

Item 5. Other Information

None

Item 6. Exhibits

Exhibit Number	Description of Exhibit
31.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Table of Contents

SIGNATURES

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

	SupportSave Solutions, Inc.

Date:	October 13, 2009

	By: /s/Christopher Johns Christopher Johns Title: Chief Executive Officer and Director

Positive
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Uncertain
Constraining
Legalese
Litigous
Readability	7th grade Avg

	TABLE OF CONTENTS	Page
PART I – FINANCIAL INFORMATION
Item 1:	Financial Statements	3
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	6
Item 4T:	Controls and Procedures	6
PART II – OTHER INFORMATION
Item 1:	Legal Proceedings	7
Item 1A:	Risk Factors	7
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	7
Item 3:	Defaults Upon Senior Securities	7
Item 4:	Submission of Matters to a Vote of Security Holders	7
Item 5:	Other Information	7
Item 6:	Exhibits	7

SupportSave Solutions (SSVE) Inactive 10-Q2010 Q1 Quarterly report

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