Sunvault Energy (SVLT) 10-Q/A 21 Aug 15 2015 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2015	Jul. 29, 2015
Document And Entity Information
Entity Registrant Name	SunVault Energy, Inc.
Entity Central Index Key	1,547,716
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	true
Amendment Description	The Company is filing this Amendment No. 1 on Form 10-Q (this “Amendment”) to our Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2015 (the “Form 10-Q”), filed with the Securities and Exchange Commission on July 31, 2015 (the “Original Filing Date”) to restate the interim undaudited consolidated financial statements for the quarter ended March 31, 2015. On August 14, 2015, our auditors, Saturna Group Chartered Accountants LLP, notified us that it believed there were errors in our consolidated financial statements relating to the accounting for convertible debt, deferred revenue, and non-controlling interest. Management further discussed the matter with Saturna Group Chartered Accountants LLP and both parties agreed that certain transactions relating to the above were not appropriately accounted for and we determined that the effect of such misstatements was material. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way any other disclosures made in the Form 10-Q, as amended. Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the certifications required pursuant to the rules promulgated under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, which were included as exhibits to the Original Report, have been amended, restated and re-executed as of the date of this Amendment (No. 1) and are included as Exhibits 31.1 and 32.1 hereto.
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		106,878,613
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash		$ 547,936
Accounts receivable, net of allowance for doubtful accounts of $82,431 (2014 - $90,864) (Note 3)		910,074
Inventory (Note 4)		528,727
Due from related parties (Note 14)		219,707
Prepaid expenses and deposits		69,060
Total current assets		2,275,504
Restricted cash		12,930
Deferred financing costs		34,024
Property and equipment (Note 5)		2,372,021
Assets held for sale (Note 6)		$ 482,044
Investment (Note 7)
Goodwill (Note 8)		$ 418,851
Total assets		5,595,374
Current liabilities:
Line of credit		151,141
Accounts payable and accrued liabilities (Note 9)	$ 1,415,947	1,394,543
Current portion of capital lease obligations (Note 12)		163,373
Current portion of long-term debt (Note 10)		144,080
Loan payable (Note 11)		115,281
Due to related parties (Note 14)		327,080
Deferred revenue		1,277,787
Total current liabilities		3,573,285
Site retirement obligation		65,727
Capital lease obligations (Note 12)		377,094
Long-term debt (Note 10)		343,843
Convertible debt less unamortized discount of $252,796 (December 31, 2014 - $156,692) (Note 13)		371,503
Total liabilities		$ 4,731,452
Going concern (Note 1)
Commitments and contingencies (Note 18)
Subsequent events (Note 21)
Stockholders' equity (deficit)
Common stock, 500,000,000 shares authorized, $0.001 par value 106,878,613 shares issued and outstanding		$ 106,879
Additional paid-in capital		2,799,159
Common stock issuable (Note 15)		134,916
Deferred compensation (Note 15)		(30,000)
Accumulated other comprehensive income		21,623
Deficit		(2,662,441)
Total Sunvault Energy, Inc. stockholder's equity(deficit)		370,136
Non-controlling interest		493,786
Total stockholders' equity		863,922
Total liabilities and stockholders' equity		$ 5,595,374
Restated [Member]
Current assets:
Cash	277,462
Accounts receivable, net of allowance for doubtful accounts of $82,431 (2014 - $90,864) (Note 3)	763,811
Inventory (Note 4)	384,126
Due from related parties (Note 14)	406,868
Prepaid expenses and deposits	72,759
Total current assets	1,905,026
Restricted cash	11,829
Deferred financing costs	70,200
Property and equipment (Note 5)	2,583,833
Assets held for sale (Note 6)	482,044
Investment (Note 7)	170,576
Goodwill (Note 8)	383,179
Total assets	5,606,687
Current liabilities:
Line of credit	142,339
Accounts payable and accrued liabilities (Note 9)	1,415,947
Current portion of capital lease obligations (Note 12)	232,931
Current portion of long-term debt (Note 10)	131,809
Loan payable (Note 11)	115,281
Due to related parties (Note 14)	316,690
Deferred revenue	1,246,334
Total current liabilities	3,601,331
Site retirement obligation	60,129
Capital lease obligations (Note 12)	665,821
Long-term debt (Note 10)	281,606
Convertible debt less unamortized discount of $252,796 (December 31, 2014 - $156,692) (Note 13)	812,548
Total liabilities	5,421,435
Stockholders' equity (deficit)
Common stock, 500,000,000 shares authorized, $0.001 par value 106,878,613 shares issued and outstanding	106,879
Additional paid-in capital	3,096,675
Common stock issuable (Note 15)	621,583
Deferred compensation (Note 15)	(27,452)
Accumulated other comprehensive income	13,313
Deficit	(3,983,844)
Total Sunvault Energy, Inc. stockholder's equity(deficit)	(172,846)
Non-controlling interest	358,098
Total stockholders' equity	185,252
Total liabilities and stockholders' equity	$ 5,606,687

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Accounts receivable, net of allowance		$ 90,864
Current liabilities:
Convertible debt less unamortized discount		$ 156,692
Stockholders' equity (deficit)
Common stock, par value		$ 0.001
Common stock, shares authorized		500,000,000
Common stock, shares issued		106,878,613
Common stock, shares outstanding		106,878,613
Restated [Member]
Current assets:
Accounts receivable, net of allowance	$ 82,431
Current liabilities:
Convertible debt less unamortized discount	$ 252,796
Stockholders' equity (deficit)
Common stock, par value	$ 0.001
Common stock, shares authorized	500,000,000
Common stock, shares issued	106,878,613
Common stock, shares outstanding	106,878,613

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue
Non-program service revenue		$ 222,706
Recycling fee revenue		150,332
Scrap metal revenue		5,845
Services rig and software revenue		47,131
Tire collections revenue		250,586
Tire shred revenue		$ 425,540
Transportation revenue
Total revenue		$ 1,102,140
Direct costs
Amortization		48,930
Equipment rental and maintenance		104,195
Freight and transportation		307,466
Labour and subcontractors (Note 14)		159,070
Materials		59,729
Site operating costs		57,651
Tire processing costs		83,405
Total direct costs		820,446
Gross profit		281,694
Operating expenses
Amortization		$ 6,272
Bad debt
Consulting fees (Note 14)		$ 59,060
Equipment rental and maintenance		11,141
General and administrative		46,971
Management fees (Note 14)		126,843
Professional fees		32,714
Rent		27,979
Salaries and subcontracting fees		71,542
Travel and promotion		22,967
Total operating expenses		405,489
Net loss before other expense		$ (123,795)
Other expense
Interest expense
Net loss		$ (123,795)
Less: net loss attributable to non-controlling interest		54,045
Net loss attributable to Sunvault Energy, Inc.		(69,750)
Comprehensive income (loss)
Foreign currency translation gain (loss)		31,084
Comprehensive loss attributable to Sunvault Energy, Inc.		$ (38,666)
Loss per share attributable to Sunvault Energy, Inc. shareholders, basic and diluted
Weighted average shares outstanding used in the calculation of net loss attributable to Sunvault Energy, Inc. per common share		19,500,000
Restated [Member]
Revenue
Non-program service revenue	$ 225,186
Recycling fee revenue	167,482
Scrap metal revenue	2,938
Services rig and software revenue	47,105
Tire collections revenue	67,628
Tire shred revenue	203,194
Transportation revenue	572,536
Total revenue	1,286,069
Direct costs
Amortization	76,715
Equipment rental and maintenance	192,550
Freight and transportation	130,981
Labour and subcontractors (Note 14)	639,234
Materials	101,677
Site operating costs	47,557
Tire processing costs	88,376
Total direct costs	1,277,090
Gross profit	8,979
Operating expenses
Amortization	15,449
Bad debt	12,272
Consulting fees (Note 14)	82,899
Equipment rental and maintenance	16,887
General and administrative	213,167
Management fees (Note 14)	596,543
Professional fees	66,981
Rent	24,027
Salaries and subcontracting fees	129,011
Travel and promotion	47,491
Total operating expenses	1,204,727
Net loss before other expense	(1,195,748)
Other expense
Interest expense	(261,343)
Net loss	(1,457,091)
Less: net loss attributable to non-controlling interest	135,688
Net loss attributable to Sunvault Energy, Inc.	(1,321,403)
Comprehensive income (loss)
Foreign currency translation gain (loss)	(8,310)
Comprehensive loss attributable to Sunvault Energy, Inc.	$ (1,329,713)
Loss per share attributable to Sunvault Energy, Inc. shareholders, basic and diluted	$ (0.01)
Weighted average shares outstanding used in the calculation of net loss attributable to Sunvault Energy, Inc. per common share	106,878,613

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss		$ (123,795)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Amortization of property and equipment		$ 55,202
Amortization of deferred financing costs
Stock-based compensation
Changes in operating assets and liabilities:
Accounts receivable		$ 103,745
Inventory		58,030
Due from related party		(16,953)
Prepaid expenses and deposits		(88,283)
Accounts payable and accrued liabilities		24,008
Deferred revenue		83,405
Due to related parties		19,500
Net cash provided by (used in) operating activities		$ 114,859
Investing activities
Advances to related parties
Purchase of investment
Cash acquired on recapitalization		$ 562
Proceeds from related parties
Purchase of property and equipment		$ (67,001)
Net cash used in investing activities		$ (66,439)
Financing activities
Line of credit
Deferred financing costs
Proceeds from convertible debt
Proceeds from related parties
Repayment of loans payable		$ (2,715)
Repayment of long-term debt		(36,731)
Repayment of capital lease obligations		(21,144)
Net cash provided by (used in) financing activities		(60,590)
Effect of foreign exchange rate changes on cash		(20,575)
Decrease in cash		(32,745)
Cash, beginning of year		547,288
Cash, end of year		$ 514,543
Non-cash investing and financing activities:
Property and equipment financed under capital lease
Supplemental disclosures:
Interest paid		$ 13,645
Income taxes paid
Restated [Member]
Operating activities
Net loss	$ (1,457,091)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Accretion of discounts on convertible debt	297,516
Amortization of property and equipment	92,164
Amortization of deferred financing costs	7,144
Stock-based compensation	489,215
Changes in operating assets and liabilities:
Accounts receivable	146,263
Inventory	144,601
Due from related party	3,485
Prepaid expenses and deposits	(3,699)
Accounts payable and accrued liabilities	21,404
Deferred revenue	(31,453)
Due to related parties	(23,007)
Net cash provided by (used in) operating activities	(313,458)
Investing activities
Advances to related parties	(229,646)
Purchase of investment	(170,576)
Proceeds from related parties	39,000
Purchase of property and equipment	(8,039)
Net cash used in investing activities	(369,261)
Financing activities
Line of credit	(8,802)
Deferred financing costs	(43,320)
Proceeds from convertible debt	536,327
Proceeds from related parties	$ 12,617
Repayment of loans payable
Repayment of long-term debt	$ (33,650)
Repayment of capital lease obligations	(114,262)
Net cash provided by (used in) financing activities	348,910
Effect of foreign exchange rate changes on cash	63,335
Decrease in cash	(270,474)
Cash, beginning of year	547,936
Cash, end of year	277,462
Non-cash investing and financing activities:
Property and equipment financed under capital lease	491,411
Supplemental disclosures:
Interest paid	22,543
Income taxes paid	$ 9,164

1. Basis of Presentation

1. Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Basis of Presentation	The accompanying consolidated interim financial statements of Sunvault Energy, Inc. (the “Company”) should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As at March 31, 2015, the Company has a working capital deficiency of $1,696,305 and has accumulated losses of $3,983,844 since inception. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

2. Significant Accounting Polic

2. Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Significant Accounting Policies	(a) Principles of Consolidation These consolidated financial statements and related notes are prepared in conformity with accounting principles generally accepted in the United States and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and the following entities: Werkman Transport Inc. (“WTI”) Wholly-owned subsidiary of the Company 1454004 Alberta Ltd. (“1454004”) Wholly-owned subsidiary of the Company CleanGen Inc. 69.6% owned subsidiary of the Company CleanGen Power Corp. Wholly-owned subsidiary of 1454004 Alberta Ltd. CleanGen Aboriginal HR Services Ltd. Wholly-owned subsidiary of CleanGen Inc. 1098541 Alberta Ltd. Wholly-owned subsidiary of CleanGen Inc. Cutting Edge Tire Recycling Limited Partnership Wholly-owned subsidiary of 1098541 Alberta Ltd. Coole Immersive Inc. 75.5% owned subsidiary of CleanGen Inc. All inter-company balances and transactions have been eliminated. (b) Comprehensive Income ASC 220, “ Comprehensive Income (c) Recent Accounting Pronouncements In 2014, the Financial Accounting Standards Board issued new accounting guidance related to revenue recognition. This new standard will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principal is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective beginning January 1, 2017 and can be applied either retrospectively for each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the impact and approach to adopting this accounting guidance on the consolidated financial statements. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. (d) Reclassifications Certain of the prior year figures have been reclassified to conform to the current year’s presentation.

3. Accounts Receivable

3. Accounts Receivable	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Accounts Receivable	March 31, $ December 31, 2014 $ Trade accounts receivable 754,138 898,141 GST receivable 7,938 9,411 Other receivable 1,735 2,522 763,811 910,074

4. Inventory

4. Inventory	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Inventory	March 31, $ December 31, 2014 $ Tire mulch and other 17,743 15,727 Tire shred 366,383 513,000 384,126 528,727

5. Property and Equipment

5. Property and Equipment	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Property and Equipment	Cost $ Accumulated amortization $ Net book value as at March 31, 2015 $ Net book value as at December 31, 2014 $ Building 86,697 865 85,832 94,768 Computer equipment 33,752 15,889 17,863 21,168 Field and production equipment 1,685,704 438,061 1,247,643 1,427,784 Furniture 23,164 8,118 15,046 12,781 Land 67,682 – 67,682 73,982 Transportation equipment 1,183,466 84,075 1,099,391 685,737 Truck 64,000 13,624 50,376 55,801 3,144,465 560,632 2,583,833 2,372,021 As at March 31, 2015, included in field and production equipment are assets under capital lease with an original cost of $99,448 (December 31, 2014 - $224,515) and accumulated amortization of $7,587 (December 31, 2014 - $35,898). Included in transportation equipment are assets under capital lease with an original cost of $1,093,568 (December 31, 2014 - $586,669) and accumulated amortization of $72,229 (December 31, 2014 - $51,727). During the three months ended March 31, 2015, amortization expense includes $18,498 (2014 - $2,728) related to assets under capital leases.

6. Assets Held For Sale

6. Assets Held For Sale	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Assets Held For Sale	Assets held for sale consists of solar panels which the Company acquired by issuing 333,333 units in 2013.

7. Investment

7. Investment	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
7. Investment	On January 5, 2015, the Company paid $170,576 pursuant to an assignment agreement dated December 27, 2014, whereby the Company acquired a 13% interest in a joint venture.

8. Goodwill

8. Goodwill	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Goodwill	Cost $ Foreign currency translation adjustment $ Impairment $ Net carrying value as at March 31, 2015 $ Net carrying value as at December 31, 2014 $ Coole Immersive Inc. 137,095 (28,163 ) – 108,932 119,073 Werkman Transport Inc. 273,224 69,028 (68,005 ) 274,247 299,778 410,319 40,865 (68,005 ) 383,179 418,851

9. Accounts Payable and Accrued

9. Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Accounts Payable and Accrued Liabilities	March 31, $ December 31, 2014 $ Trade accounts payable 1,237,605 1,202,012 Accrued liabilities 26,950 63,095 GST payable 39,068 61,165 Income taxes payable 6,484 16,896 Payroll payable 99,926 44,910 Other payable 5,914 6,465 1,415,947 1,394,543

10. Long-term Debt

10. Long-term Debt	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Long-term Debt	March 31, 2015 $ December 31, 2014 $ Business Development Bank of Canada, repayable in monthly instalments of Cdn$6,000 plus interest at 7%, maturing May 17, 2018, secured by a general interest in all present and after acquired property. 179,797 212,051 Business Development Bank of Canada, repayable in monthly instalments of Cdn$6,667 plus interest at 8%, maturing May 17, 2018, secured by a general interest in all present and after acquired property. 199,784 235,624 John Deere Finance, repayable in monthly installments of Cdn$1,262 including interest at 0%, maturing on January 1, 2018, secured by specific equipment. 33,834 40,248 413,415 487,923 Less: current portion (131,809 ) (144,080 ) Long-term portion 281,606 343,843 Principal repayments on long-term debt in each of the next four years are as follows: Year Cdn$ $ 2015 125,361 98,857 2016 167,147 131,809 2017 167,147 131,809 2018 64,597 50,940 524,252 413,415

11. Loans Payable

11. Loans Payable	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Loans Payable	As at March 31, 2015, the Company owed $115,281 (December 31, 2014 – $115,281) to a non-related party for expenses paid on behalf of the Company. The amount due is non-interest bearing, unsecured, and due on demand.

12. Capital Lease Obligations

12. Capital Lease Obligations	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Capital Lease Obligations	March 31, $ December 31, 2014 $ Treadco Inc., equipment lease repayable in monthly installments of Cdn$5,000 including interest at 12% per annum, due in February 2015, secured by specific field equipment. – 23,707 Coast Capital, equipment lease repayable in monthly instalments of Cdn$1,186 including interest at 8.23% per annum, due in July 2017, secured by production equipment. 23,747 28,456 Coast Capital, equipment lease repayable in monthly instalments of Cdn$1,067 including interest at 8.23% per annum, due in July 2017, secured by production equipment. 30,274 34,988 National Leasing Group Inc., equipment lease repayable in monthly installments of Cdn$823, due in June 2019, secured by transportation equipment. 21,794 25,060 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$2,093, due in June 2016, secured by transportation equipment. 23,375 30,335 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$2,123, due in September 2016, secured by transportation equipment. 29,625 37,104 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$4,188, due in June 2018, secured by transportation equipment. 113,005 131,733 Mercado Capital Corporation, equipment lease repayable in monthly installments of Cdn $1,745, due in June 2019, secured by transportation equipment. 58,993 66,649 Blue Chip Leasing Corporation, equipment lease repayable in monthly installments of Cdn$819, due in June 2019, secured by transportation equipment. 21,367 24,630 National Leasing Group Inc., equipment lease repayable in monthly installments of Cdn$783, due in June 2019, secured by transportation equipment. 19,875 22,871 Westana Equipment Leasing Inc., equipment lease repayable in monthly installments of Cdn$2,190, due in June 2019, secured by transportation equipment. 50,519 57,467 Westana Equipment Leasing Inc., equipment lease repayable in monthly installments of Cdn$2,190, due in June 2019, secured by transportation equipment. 50,519 57,467 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$3,674, due in February 2020, secured by transportation equipment. 134,417 – Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$4,070, due in March 2020, secured by transportation equipment. 154,412 – Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$6,109 for the first six payments and thereafter to decrease to Cdn$4,345, due in March 2019, secured by transportation equipment. 144,312 – Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$1,943, due in August 2016, secured by transportation equipment. 22,518 – 898,752 540,467 Less: current portion (232,931 ) (163,373 ) Long-term portion 665,821 377,094 Future minimum lease payments related to capital lease obligations are as follows: $ 2015 239,963 2016 295,159 2017 251,579 2018 215,191 2019 87,401 2020 12,409 1,101,702 Less: imputed interest (202,950 ) 898,752 Less: current portion (232,931 ) Long-term portion 665,821

13. Convertible Debt

13. Convertible Debt	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Convertible Debt	(a) Effective April 22, 2014, the Company entered into private placement subscription agreements with several investors pursuant to which the Company issued convertible debentures in the aggregate amount of $180,200 and $41,401 (Cdn$52,500). The convertible debentures are unsecured, bear interest at8% per annum and paid quarterly, due on April 22, 2016, and may be converted into shares of the Company’s common stock at any time at the conversion price of $0.30 per share. The Company incurred financing costs of $23,450 in connection with the financing, which was deferred and will be amortized over the term of the debt. During the three months ended March 31, 2015, the Company amortized $2,887 (2014 - $nil) of the deferred financing costs. In accordance with ASC 470-20, “Debt with Conversion and Other Options”, the Company determined that the convertible promissory note contained no embedded beneficial conversion feature as the convertible promissory note was issued with a conversion price higher than the fair market value of the Company’s shares of common stock at the time of issuance. (b) Effective December 15, 2014, the Company entered into private placement subscription agreements with several investors pursuant to which the Company issued convertible debentures in the aggregate amount of $725,990 and $45,513 (Cdn$52,800). Of these amounts, $302,740 was received as at December 31, 2014. During the three months ended March 31, 2015, the Company received additional proceeds in the amount of $423,250 and $45,513 (Cdn$52,800). The convertible debentures are unsecured, bear interest at 10% per annum which is paid quarterly, due on December 15, 2016, and may be converted into shares of the Company’s common stock, after six months from issuance, at a conversion price of $0.20 per share. If converted into shares of common stock, the holder is entitled to one share purchase warrant with an exercise price of $0.50 for a period of two years. The Company incurred financing costs of $63,042 in connection with the financing, which was deferred and will be amortized over the term of the debt. During the three months ended March 31, 2015, the Company amortized $4,257 (2014 - $nil) of the deferred financing costs. In accordance with ASC 470-20, “ Debt with Conversion and Other Options (c) Effective March 1, 2015, the Company entered into private placement subscription agreements with several investors pursuant to which the Company issued convertible debentures in the aggregate amount of $55,000 and $17,240 (Cdn$20,000). The convertible debentures are unsecured, bear interest at 8.5% per annum which is paid quarterly, due on March 1, 2017, and may be converted into shares of the Company’s common stock, after six months from issuance or if the stock trades above $0.75 for a 14 calendar day period, at a conversion price of $0.25 per share. If converted into shares of common stock, the holder is entitled to one share purchase warrant with an exercise price of $1.00 for a period of two years. In accordance with ASC 470-20, “ Debt with Conversion and Other Options

14. Related Party Transactions

14. Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Related Party Transactions	(a) As at March 31, 2015, the Company owed $17,831 (December 31, 2014 - $10,286) to a company controlled by the President of the Company, which is unsecured, non-interest bearing, and due on demand. (b) As at March 31, 2015, the Company was owed $66,087 (December 31, 2014 - $56,511) from a company controlled by the President of the Company, which is unsecured, non-interest bearing, and due on demand. (c) As at March 31, 2015, the Company owed $28,500 (December 31, 2014 - $19,500) to the Chief Technology Officer of the Company, which is unsecured, non-interest bearing, and due on demand. (d) As at March 31, 2015, the Company owed $14,980 (December 31, 2014 - $14,980) to the Treasurer and Secretary of the Company, which is unsecured, non-interest bearing, and due on demand. (e) As at March 31, 2015, the Company owed $123,673 (December 31, 2014 - $107,232) to a company controlled by a director of the Company, which is unsecured, non-interest bearing, and due on demand. (f) As at March 31, 2015, the Company owed $2,169 (December 31, 2014 - $nil) to a company controlled by a director of the Company, which is unsecured, non-interest bearing, and due on demand. (g) As at March 31, 2015, the Company was owed $208,571 (December 31, 2014 - $158,886) from a company controlled by a significant shareholder of the Company, which is unsecured, non-interest bearing, and due on demand. (h) As at March 31, 2015, the Company was owed $111,000 (December 31, 2014 - $nil) from a company under common control, which is unsecured, non-interest bearing, and due on demand. (i) As at March 31, 2015, the Company was owed $3,943 (Cdn$5,000) (December 31, 2014 - $4,310 (Cdn$5,000)) from a director of the Company, which is unsecured, non-interest bearing, and due on demand. (j) As at March 31, 2015, the Company owed $19,032 (Cdn$24,134) (December 31, 2014 - $20,804 (Cdn$24,134)) to the President and companies controlled by the President of 1454004, which is unsecured, non-interest bearing, and due on demand. (k) As at March 31, 2015, the Company was owed $17,267 (Cdn$21,896) from (December 31, 2014 – owed $69 (Cdn$80) to) a shareholder of Coole, which is unsecured, non-interest bearing, and due on demand. (l) As at March 31, 2015, the Company owed $110,505 (Cdn$140,131) (December 31, 2014 – $154,209 (Cdn$178,898)) to the President of WTI, which is unsecured, non-interest bearing, and due on demand. (m) For the three months ended March 31, 2015, the Company incurred management fees of $13,085 (2014 - $33,989) to the President and companies controlled by the President of 1454004. (n) For the three months ended March 31, 2015, the Company incurred labour costs of $56,718 (2014 - $nil) to a company controlled by the brother of the President of WTI. (o) For the three months ended March 31, 2015, the Company incurred consulting fees of $9,000 (2014 - $nil) and management fees of $nil (2014 - $7,500) to the Chief Technology Officer of the Company. (p) For the three months ended March 31, 2015, included in labour costs is $19,687 (2014 - $11,556) incurred to the son of the former President of 1454004. (q) For the three months ended March 31, 2015, included in management fees are the following amounts: · $30,000 (2014 - $25,000) incurred to the President of the Company; · $46,612 (2014 - $nil) incurred to a director of the Company; · $24,158 (2014 - $nil) incurred to the President of WTI; · $492,917 (2014 - $nil) incurred to a company controlled by the Chief Executive Officer of the Company; · $nil (2014 - $20,167) incurred to the daughter of the former President of 1454004; · $nil (2014 - $11,556) incurred to the son of the former President of 1454004; and · $nil (2014 - $40,787) incurred to a former director of 1454004.

15. Common Stock

15. Common Stock	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Common Stock	(a) As at March 31, 2015, the Company had $134,916 (Cdn$156,516) (December 31, 2014 – $134,916 (Cdn$156,516)) in common stock issuable to a company controlled by the President of WTI for the acquisition of certain assets and assumption of certain liabilities of 1301540 Alberta Ltd. on April 15, 2014. (b) As at March 31, 2015, the Company had $486,667 (December 31, 2014 – $nil) in common stock issuable to a company controlled by a director of the Company for management fees incurred. Refer to Note 18(h). (c) On March 1, 2014, the Company entered into a consulting agreement with a non-related party for a period of one year commencing March 1, 2015. As consideration for these services, the Company issued 300,000 shares of common stock with a fair value of $30,000 which was recorded as deferred compensation. During the three months ended March 31, 2015, the Company expensed $2,548 of the deferred compensation as consulting fees which reflects the pro-rata portion of the services provided to March 31, 2015.

16. Stock Options

16. Stock Options	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Stock Options	On February 6, 2014, the Company adopted the 2014 Stock Option Plan which permits the Company to grant stock options for up to 12,968,800 shares of common stock to officers, directors, employees, and consultants. The Board of Directors will determine the exercise price and vesting schedule for stock options granted. The maximum term of stock options granted is five years. A summary of the Company’s stock option activity is as follows: Number of options Weighted average exercise price $ Aggregate intrinsic value $ Outstanding, December 31, 2014 and March 31, 2015 3,100,000 0.10 1,643,000 Additional information regarding stock options outstanding as at March 31, 2015, is as follows: Outstanding and exercisable Range of exercise prices $ Number of shares Weighted average remaining contractual life (years) Weighted average exercise price $ 0.10 3,100,000 3.9 0.10

17. Share Purchase Warrants

17. Share Purchase Warrants	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Share Purchase Warrants	The following table summarizes the continuity of share purchase warrants: Number of warrants Weighted average exercise price $ Balance, December 31, 2014 and March 31, 2015 527,333 2.00 As at March 31, 2015, the following share purchase warrants were outstanding: Number of warrants Exercise price $ Expiry date 60,000 2.00 September 16, 2015 34,000 2.00 September 17, 2015 333,333 2.00 November 15, 2015 100,000 2.00 April 15, 2017

18. Commitments and Contingenci

18. Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Commitments and Contingencies	(a) On September 14, 2011, CleanGen Power received notice that The Groundworx Co. (“Groundworx") was seeking damages of Cdn$33,678 for repair services provided for a Doppstadt Shredder (the “Shredder”). Management of CleanGen Power asserts that any repair services provided for the Shredder was done without the agreement and the knowledge of CleanGen Power. On October 5, 2012, CleanGen Power filed a Statement of Defense and Counterclaim, seeking damages of Cdn$6,000,000 from Groundworx for the following: (i) trespassing, including physical damage to the gates and structures located on land that CleanGen Power was entitled to possession of; (ii) removal and conversion of the Shredder without permission; (iii) consequential losses arising from, but not limited to, CleanGen Power’s inability to perform its obligations under agreements with third parties as a direct result of the loss of the Shredder; (iv) damages arising from the disruption of CleanGen Power’s business, causing CleanGen Power to be unable to honour all of its financial obligations to third parties; and (v) administrative time and resources spent by CleanGen Power to locate the Shredder and to deal with the abovementioned acts of Groundworx. On November 16, 2012, CleanGen Power received a Statement of Defense to Counterclaim from Groundworx, who denied all of the allegations in the Counterclaim. CleanGen Power has until April 30, 2016 to advance the action or it risks automatic dismissal for delay by the Court. (b) On December 9, 2013, the Company entered into a licensing agreement pursuant to which the Company has been granted a royalty-bearing, exclusive license to certain patented inventions. The Company has agreed to pay the licensor $3,000 and issue shares of common stock equal to a fair value of $30,000 on or before January 8, 2014. The Company will pay royalties to the licensor calculated based on 4% of net sales for licensed products and processes. The minimum royalty payments are to be paid in advance on a quarterly basis as follows: December 3, 2018: - $500; year 2019 - $2,000; year 2020 - $4,000; year 2021 - $6,000; year 2022 - $8,000; and $10,000 for year 2023 and every year thereafter for the life of the agreement. If the first sale of a licensed product occurs before 2019, the first minimum royalty payment will be due on December 31 of the year in which the first sale occurred and the due dates for the subsequent minimum royalty payments will be adjusted accordingly. The Company must provide funding of at least $50,000 by January 6, 2014 for research by the licensor in the area of electrochemical based solar cells with energy storage capacity. In addition, the Company must pay the licensor milestone payments as follows: $5,000 upon completion of a working prototype due on March 31, 2018 and $10,000 upon its first commercial sale due on March 31, 2019. The Company must execute the first commercial sales of products to a retail customer on or before March 31, 2019 or the licensor has the right to terminate the agreement. The term of this license will continue until the latter of: (i) the date that no licensed patent remains a pending application or an unforceable patent, or (ii) the date on which the licensee’s obligation to pay royalties expires. (c) On January 16, 2014, the Company entered into an agreement with a company controlled by the President of the Company whereby the Company is to pay $10,000 per month which is to be paid with shares of common stock of the Company until the Company has adequate funding. If the agreement is terminated by the Company without cause or as a result of a change in control, the company controlled by the President of the Company will be entitled to termination pay of $240,000. (d) On March 31, 2014, CleanGen Power received a demand for payment of Cdn$1,045,627 from the Province of Alberta pursuant to the biorefining commercialization and market development program grant agreement (the “Grant Agreement”). The amount consists of Cdn$969,157 of grant funds disallowed under the Grant Agreement and Cdn$76,471 of interest earned on the grant funds. While CleanGen Power acknowledges that it was in default of the Grant Agreement, the breach was brought about in part by circumstances beyond CleanGen Power’s control. In particular, a sawdust pile fire incident occurred from December 2 to December 21, 2011, which consumed 250,000 tonnes of wood material to be used for the biomass project worth Cdn$1,500,000 to Cdn$2,000,000 and cost approximately Cdn$500,000 to put out. This greatly affected CleanGen Power’s ability to progress with the project under the Grant Agreement. As such, CleanGen Power is in discussions with the Province of Alberta to reduce or settle the amount owed. As the Company have not received further communications from the Province of Alberta, there is uncertainty as the the estimated amount owed and the probability of the payout. As such, the Company did not record an accrual for the contingent liability. (e) On April 15, 2014, the Company entered into a management agreement with the President of WTI whereby the Company is to pay Cdn$10,000 per month for the management services for a term of five years. (f) (a) On April 24, 2014, the Company entered into a Services and Commission Agreement with Aboriginal Financial Services Corporation (“AFSC”), a company controlled by a director of the Company, pursuant to which AFSC will provide the Company with knowledge regarding various Aboriginal peoples, groups, organizations and First Nations, Metis and Inuit communities (“Aboriginal Stakeholders”) and their business practices to assist the Company in identifying utility resource development and associated services to assist the Company with contractual arrangements for the development of resource opportunities on Aboriginal lands. Under the terms of the agreement, the Company agreed to pay AFSC a one-time retainer of Cdn$3,000 upon execution of the agreement and reimburse AFSC on a monthly basis for pre-approved out-of-pocket expenses. The Company has also agreed to issue the following shares based on various target contracts, as more particularly described in the agreement: i) 500,000 shares of common stock at the then prevailing market rate for any and all target contracts having a total capital investment value of up to Cdn$4,999,999 issuable as of the date of signing of target contracts with Aboriginal Stakeholders. ii) An additional 500,000 shares of common stock at the then prevailing market rate will be deemed earned and issuable as of the date of completion of the target contracts. iii) A further 500,000 shares of common stock at the prevailing market rate for any and all target contracts having a cumulative total capital investment of Cdn$5,000,000 or more upon completion of the target contracts. Such shares will be deemed earned and issuable upon the target contracts being completed. The Company also agreed to pay AFSC a commission for any and all third party financing introduced to the Company by AFSC as follows: i) 10% of the first Cdn$1,000,000, plus; ii) 8% of the second Cdn$1,000,000, plus; iii) 6% of the third Cdn$1,000,000, plus; iv) 4% of the fourth Cdn$1,000,000, plus; v) 2% of everything above Cdn$4,000,000. The agreement may be terminated by either party with 90 days written notice. On September 26, 2014, pursuant to an addendum to the Services and Commission Agreement with AFSC, the Company issued 500,000 shares of common stock to AFSC as additional consideration for AFSC’s performance of services rendered in identifying and introducing other business opportunities to the Company. (g) On December 15, 2014, the Company entered into a license and development agreement with a non-related party to develop the nanotech energy graphine energy storage device. Pursuant to the agreement, the Company shall provide all funding in a sufficient amount to: (i) develop and equip a factory to manufacture the products; and (ii) provide the proposed funding of $10,000,000 within 75 days of December 15, 2014. On June 3, 2015, the agreement was mutually terminated. (h) On March 18, 2015, the Company entered into a management agreement with AFSC for services to be rendered by its President as an officer and director of the Company. In consideration for the management services rendered, the Company agrees to pay AFSC the following fees and expenses: i) Upon execution of this agreement, the Company agrees to issue to AFSC 666,667 unrestricted common voting shares of the Company at the then prevailing market price and stock options as determined by the Board of Directors (refer to Note 15(b)); ii) The Company agrees to pay to AFSC a monthly fee of $12,500, plus applicable taxes, in equal semi-monthly installments which is to be paid with shares of common stock of the Company until the Company has adequate funding; iii) The Company agrees to pay AFSC for all reasonable and necessary travel and out of pocket expenses incurred in fulfilling its obligations under this agreement upon verification of all related receipts; and iv) The Company agrees to issue common stock and stock options to AFSC, at its discretion at such times and in such amounts as it determines from time to time. AFSC shall be entitled to participate in other incentive plans or employee incentive stock options. Such stock options are to be exercisable for a minimum period of five years from the date of grant, considered earned and fully vested at the time of issue regardless of whether AFSC exercises its right, and the Company shall have no right to cancel or rescind such stock options granted thereafter.

19. Segmented Information

19. Segmented Information	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Segmented Information	The Company has three reportable segments: (i) recycling services, (ii) services rig and software revenue, and (iii) transportation services. The Company allocates resources to and assess the performance of each reportable segment using information about its revenue and operating income (loss). The Company does not evaluate operating segments using discrete asset information. The “Corporate and other” category includes income, expenses and charges such as: · results of operations of various initiatives which support all of the Company’s reportable segments; · corporate management costs, such as human resources, finance and legal, not allocated to the Company’s reportable segments; and · stock-based compensation. The following table summarizes the financial performance of the Company’s reportable segments: 2015 $ 2014 $ Recycling services 666,428 1,055,009 Services rig and software revenue 47,105 47,131 Transportation services 591,275 – Elimination of inter-segment net revenue (18,739 ) – Total consolidated net revenue 1,286,069 1,102,140 The following table provides a reconciliation to the Company’s consolidated operating results: 2015 $ 2014 $ Recycling services (415,719 ) (81,274 ) Services rig and software revenue 7,215 26,047 Transportation services 34,275 – Corporate and other (821,519 ) (68,568 ) Total consolidated operating loss (1,195,748 ) (123,795 ) Segmentation by geographical location is not presented as all revenues are earned in Canada and all long-lived assets are located in Canada. Total assets by segment are not presented as that information is not used to allocate resources or assess performance at the segment level and is not reviewed by the Chief Operating Decision Maker of the Company.

20. Restatement

20. Restatement	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Restatement	The Company has restated its consolidated financial statements as at March 31, 2015 and for the three months then ended to reflect impact of the December 31, 2014 restatement of the consolidated financial statements, recording of the discount and accretion relating to the beneficial conversion feature for its December 31, 2014 and March 31, 2015 convertible debentures. This restatement resulted in an increase to net loss of $196,448 with no change in net loss per share. The impact of the restatement as at March 31, 2015, and for the three months then ended are summarized below: Consolidated Balance Sheet As At March 31, 2015 As Reported $ Adjustments $ As Restated $ Assets Asset held for sale 418,345 63,699 482,044 Total assets 5,542,988 63,699 5,606,687 Current liabilities Accounts payable and accrued liabilities 1,424,956 (9,009 ) 1,415,947 Deferred revenue 1,159,211 87,123 1,246,334 Total current liabilities 3,523,217 78,114 3,601,331 Long-term liabilities Convertible debt 1,065,344 (252,796 ) 812,548 Total liabilities 5,596,117 (174,682 ) 5,421,435 Stockholders’ equity (deficit) Additional paid-in capital 3,133,549 (36,874 ) 3,096,675 Accumulated other comprehensive income (59,235 ) 72,548 13,313 Deficit (3,758,807 ) (225,037 ) (3,983,844 ) Total Sunvault Energy, Inc. stockholders’ equity 16,517 (189,363 ) (172,846 ) Non-controlling interest (69,646 ) 427,744 358,098 Total stockholders’ equity (deficit) (53,129 ) 238,381 185,252 Total liabilities and stockholders' equity (deficit) 5,542,988 63,699 5,606,687 Consolidated Statement of Operations Three Months Ended March 31, 2015 As Reported $ Adjustment $ As Restated $ Revenues Services rig and software revenue 42,141 4,964 47,105 Total revenues 1,281,105 4,964 1,286,069 Gross profit 4,015 4,964 8,979 Operating expenses General and administrative 211,212 1,955 213,167 Total operating expenses 1,202,772 1,955 1,204,727 Net loss before other expense (1,198,757 ) 3,009 (1,195,748 ) Other expense Interest expense (61,886 ) (199,457 ) (261,343 ) Total other expense (61,886 ) (199,457 ) (261,343 ) Net loss (1,260,643 ) (196,448 ) (1,457,091 ) Less: net loss (income) attributable to non-controlling interest (551 ) 136,239 135,688 Net loss attributable to Sunvault Energy, Inc. (1,261,194 ) (60,209 ) (1,321,403 ) Comprehensive loss Foreign currency translation loss (79,628 ) 71,318 (8,310 ) Comprehensive loss attributable to Sunvault Energy, Inc. (1,340,822 ) 11,109 (1,329,713 ) Consolidated Statement of Cash Flows Three Months Ended March 31, 2015 As Reported $ Adjustment $ As Restated $ Operating activities Net loss (1,260,643 ) (196,448 ) (1,457,091 ) Adjustments to reconcile net loss to net cash used in operating activities: Accretion of discounts on convertible debt – 297,516 297,516 Changes in operating assets and liabilities: Accounts payable and accrued liabilities 20,564 840 21,404 Deferred revenue (18,030 ) (13,423 ) (31,453 ) Net cash used in operating activities (401,943 ) 88,485 (313,458 ) Effect of foreign exchange rate changes on cash 151,820 (88,485 ) 63,335

21. Subsequent Events

21. Subsequent Events	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Subsequent Events	(a) Subsequent to March 31, 2015, the Company entered into private placement subscription agreements with several investors pursuant to which the Company issued convertible debentures in the aggregate amounts of $341,800 and $49,547 (Cdn$62,830). The convertible debentures are unsecured, due two years from the date of issuance, bear interest at the rate of 8.5% per annum, calculated annually and paid quarterly, and may be converted into units after six months from the date of issuance or if the shares trade above $0.75 for a 14 day period at a conversion price of $0.25 per unit. Each unit is to consist of one share of common stock and one share purchase warrant exercisable at a price of $1.00 for a period of two years from the date of conversion. (b) On April 16, 2015, CETR entered into a lease agreement for field and production equipment. The lease is repayable in monthly installments of Cdn$1,464, due in March 2020, and secured by field and production equipment. (c) On May 15, 2015, the Company issued 2,050,000 share purchase warrants exercisable at a price of $0.50 per share of common stock for a period of 90 days from when the Company’s shares resume trading. To exercise the share purchase warrants, each holder must first exercise a minimum of 25% of the respective share purchase warrants issued. Through to the date of these financial statements, the Company has received proceeds in the amount of $157,700 pursuant to the future exercise of share purchase warrants. (d) On June 25, 2015, WTI entered into a lease agreement for transportation equipment. The lease is repayable in monthly installments of Cdn$2,875, due in January 2018, and secured by transportation equipment.

2. Significant Accounting Pol27

2. Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Significant Accounting Policies Policies
Principles of Consolidation	These consolidated financial statements and related notes are prepared in conformity with accounting principles generally accepted in the United States and are expressed in U.S. dollars. These consolidated financial statements include the accounts of the Company and the following entities: Werkman Transport Inc. (“WTI”) Wholly-owned subsidiary of the Company 1454004 Alberta Ltd. (“1454004”) Wholly-owned subsidiary of the Company CleanGen Inc. 69.6% owned subsidiary of the Company CleanGen Power Corp. Wholly-owned subsidiary of 1454004 Alberta Ltd. CleanGen Aboriginal HR Services Ltd. Wholly-owned subsidiary of CleanGen Inc. 1098541 Alberta Ltd. Wholly-owned subsidiary of CleanGen Inc. Cutting Edge Tire Recycling Limited Partnership Wholly-owned subsidiary of 1098541 Alberta Ltd. Coole Immersive Inc. 75.5% owned subsidiary of CleanGen Inc. All inter-company balances and transactions have been eliminated.
Comprehensive Income	ASC 220, “ Comprehensive Income
Recent Accounting Pronouncements	In 2014, the Financial Accounting Standards Board issued new accounting guidance related to revenue recognition. This new standard will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principal is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective beginning January 1, 2017 and can be applied either retrospectively for each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the impact and approach to adopting this accounting guidance on the consolidated financial statements. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.
Reclassifications	Certain of the prior year figures have been reclassified to conform to the current year’s presentation.

3. Accounts Receivable (Tables)

3. Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2015
Accounts Receivable Tables
Accounts Receivable	March 31, $ December 31, 2014 $ Trade accounts receivable 754,138 898,141 GST receivable 7,938 9,411 Other receivable 1,735 2,522 763,811 910,074

4. Inventory (Tables)

4. Inventory (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Tables
Inventory	March 31, $ December 31, 2014 $ Tire mulch and other 17,743 15,727 Tire shred 366,383 513,000 384,126 528,727

5. Property and Equipment (Tabl

5. Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Property And Equipment Tables
Property and Equipment	Cost $ Accumulated amortization $ Net book value as at March 31, 2015 $ Net book value as at December 31, 2014 $ Building 86,697 865 85,832 94,768 Computer equipment 33,752 15,889 17,863 21,168 Field and production equipment 1,685,704 438,061 1,247,643 1,427,784 Furniture 23,164 8,118 15,046 12,781 Land 67,682 – 67,682 73,982 Transportation equipment 1,183,466 84,075 1,099,391 685,737 Truck 64,000 13,624 50,376 55,801 3,144,465 560,632 2,583,833 2,372,021

8. Goodwill (Tables)

8. Goodwill (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill Tables
Summary of Goodwill	Cost $ Foreign currency translation adjustment $ Impairment $ Net carrying value as at March 31, 2015 $ Net carrying value as at December 31, 2014 $ Coole Immersive Inc. 137,095 (28,163 ) – 108,932 119,073 Werkman Transport Inc. 273,224 69,028 (68,005 ) 274,247 299,778 410,319 40,865 (68,005 ) 383,179 418,851

9. Accounts Payable and Accru32

9. Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2015
Accounts Payable And Accrued Liabilities Tables
Summary of Accounts Payable and Accrued Liabilities	March 31, $ December 31, 2014 $ Trade accounts payable 1,237,605 1,202,012 Accrued liabilities 26,950 63,095 GST payable 39,068 61,165 Income taxes payable 6,484 16,896 Payroll payable 99,926 44,910 Other payable 5,914 6,465 1,415,947 1,394,543

10. Long-term Debt (Tables)

10. Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Long-term Debt Tables
Summary of long-term debt	March 31, $ December 31, 2014 $ Business Development Bank of Canada, repayable in monthly instalments of Cdn$6,000 plus interest at 7%, maturing May 17, 2018, secured by a general interest in all present and after acquired property. 179,797 212,051 Business Development Bank of Canada, repayable in monthly instalments of Cdn$6,667 plus interest at 8%, maturing May 17, 2018, secured by a general interest in all present and after acquired property. 199,784 235,624 John Deere Finance, repayable in monthly installments of Cdn$1,262 including interest at 0%, maturing on January 1, 2018, secured by specific equipment. 33,834 40,248 413,415 487,923 Less: current portion (131,809 ) (144,080 ) Long-term portion 281,606 343,843
Principal repayments on long-term debt	Principal repayments on long-term debt in each of the next four years are as follows: Year Cdn$ $ 2015 125,361 98,857 2016 167,147 131,809 2017 167,147 131,809 2018 64,597 50,940 524,252 413,415

12. Capital Lease Obligations (

12. Capital Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2015
Capital Lease Obligations Tables
Capital Lease Obligations	March 31, 2015 $ December 31, 2014 $ Treadco Inc., equipment lease repayable in monthly installments of Cdn$5,000 including interest at 12% per annum, due in February 2015, secured by specific field equipment. – 23,707 Coast Capital, equipment lease repayable in monthly instalments of Cdn$1,186 including interest at 8.23% per annum, due in July 2017, secured by production equipment. 23,747 28,456 Coast Capital, equipment lease repayable in monthly instalments of Cdn$1,067 including interest at 8.23% per annum, due in July 2017, secured by production equipment. 30,274 34,988 National Leasing Group Inc., equipment lease repayable in monthly installments of Cdn$823, due in June 2019, secured by transportation equipment. 21,794 25,060 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$2,093, due in June 2016, secured by transportation equipment. 23,375 30,335 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$2,123, due in September 2016, secured by transportation equipment. 29,625 37,104 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$4,188, due in June 2018, secured by transportation equipment. 113,005 131,733 Mercado Capital Corporation, equipment lease repayable in monthly installments of Cdn $1,745, due in June 2019, secured by transportation equipment. 58,993 66,649 Blue Chip Leasing Corporation, equipment lease repayable in monthly installments of Cdn$819, due in June 2019, secured by transportation equipment. 21,367 24,630 National Leasing Group Inc., equipment lease repayable in monthly installments of Cdn$783, due in June 2019, secured by transportation equipment. 19,875 22,871 Westana Equipment Leasing Inc., equipment lease repayable in monthly installments of Cdn$2,190, due in June 2019, secured by transportation equipment. 50,519 57,467 Westana Equipment Leasing Inc., equipment lease repayable in monthly installments of Cdn$2,190, due in June 2019, secured by transportation equipment. 50,519 57,467 Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$3,674, due in February 2020, secured by transportation equipment. 134,417 – Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$4,070, due in March 2020, secured by transportation equipment. 154,412 – Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$6,109 for the first six payments and thereafter to decrease to Cdn$4,345, due in March 2019, secured by transportation equipment. 144,312 – Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$1,943, due in August 2016, secured by transportation equipment. 22,518 – 898,752 540,467 Less: current portion (232,931 ) (163,373 ) Long-term portion 665,821 377,094
Payments related to capital lease obligations	Future minimum lease payments related to capital lease obligations are as follows: $ 2015 239,963 2016 295,159 2017 251,579 2018 215,191 2019 87,401 2020 12,409 1,101,702 Less: imputed interest (202,950 ) 898,752 Less: current portion (232,931 ) Long-term portion 665,821

16. Stock Options (Tables)

16. Stock Options (Tables)	3 Months Ended
	Mar. 31, 2015
Stock Options Tables
Stock Options	A summary of the Company’s stock option activity is as follows: Number of options Weighted average exercise price $ Aggregate intrinsic value $ Outstanding, December 31, 2014 and March 31, 2015 3,100,000 0.10 1,643,000
Outstanding stock options	Additional information regarding stock options outstanding as at March 31, 2015, is as follows: Outstanding and exercisable Range of exercise prices $ Number of shares Weighted average remaining contractual life (years) Weighted average exercise price $ 0.10 3,100,000 3.9 0.10

17. Share Purchase Warrants (Ta

17. Share Purchase Warrants (Tables)	3 Months Ended
	Mar. 31, 2015
Share Purchase Warrants Tables
Share purchase warrants	The following table summarizes the continuity of share purchase warrants: Number of warrants Weighted average exercise price $ Balance, December 31, 2014 and March 31, 2015 527,333 2.00
Share purchase warrants exercise price	As at March 31, 2015, the following share purchase warrants were outstanding: Number of warrants Exercise price $ Expiry date 60,000 2.00 September 16, 2015 34,000 2.00 September 17, 2015 333,333 2.00 November 15, 2015 100,000 2.00 April 15, 2017

19. Segmented Information (Tabl

19. Segmented Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segmented Information Tables
Summarizes the financial performance of the Company's reportable segments	The following table summarizes the financial performance of the Company’s reportable segments: 2015 $ 2014 $ Recycling services 666,428 1,055,009 Services rig and software revenue 47,105 47,131 Transportation services 591,275 – Elimination of inter-segment net revenue (18,739 ) – Total consolidated net revenue 1,286,069 1,102,140
Reconciliation to the Company's consolidated operating results	The following table provides a reconciliation to the Company’s consolidated operating results: 2015 $ 2014 $ Recycling services (415,719 ) (81,274 ) Services rig and software revenue 7,215 26,047 Transportation services 34,275 – Corporate and other (821,519 ) (68,568 ) Total consolidated operating loss (1,195,748 ) (123,795 )

20. Restatement (Tables)

20. Restatement (Tables)	3 Months Ended
	Mar. 31, 2015
Restatement Tables
Schedule of impact of the restatement	The impact of the restatement as at March 31, 2015, and for the three months then ended are summarized below: Consolidated Balance Sheet As At March 31, 2015 As Reported $ Adjustments $ As Restated $ Assets Asset held for sale 418,345 63,699 482,044 Total assets 5,542,988 63,699 5,606,687 Current liabilities Accounts payable and accrued liabilities 1,424,956 (9,009 ) 1,415,947 Deferred revenue 1,159,211 87,123 1,246,334 Total current liabilities 3,523,217 78,114 3,601,331 Long-term liabilities Convertible debt 1,065,344 (252,796 ) 812,548 Total liabilities 5,596,117 (174,682 ) 5,421,435 Stockholders’ equity (deficit) Additional paid-in capital 3,133,549 (36,874 ) 3,096,675 Accumulated other comprehensive income (59,235 ) 72,548 13,313 Deficit (3,758,807 ) (225,037 ) (3,983,844 ) Total Sunvault Energy, Inc. stockholders’ equity 16,517 (189,363 ) (172,846 ) Non-controlling interest (69,646 ) 427,744 358,098 Total stockholders’ equity (deficit) (53,129 ) 238,381 185,252 Total liabilities and stockholders' equity (deficit) 5,542,988 63,699 5,606,687 Consolidated Statement of Operations Three Months Ended March 31, 2015 As Reported $ Adjustment $ As Restated $ Revenues Services rig and software revenue 42,141 4,964 47,105 Total revenues 1,281,105 4,964 1,286,069 Gross profit 4,015 4,964 8,979 Operating expenses General and administrative 211,212 1,955 213,167 Total operating expenses 1,202,772 1,955 1,204,727 Net loss before other expense (1,198,757 ) 3,009 (1,195,748 ) Other expense Interest expense (61,886 ) (199,457 ) (261,343 ) Total other expense (61,886 ) (199,457 ) (261,343 ) Net loss (1,260,643 ) (196,448 ) (1,457,091 ) Less: net loss (income) attributable to non-controlling interest (551 ) 136,239 135,688 Net loss attributable to Sunvault Energy, Inc. (1,261,194 ) (60,209 ) (1,321,403 ) Comprehensive loss Foreign currency translation loss (79,628 ) 71,318 (8,310 ) Comprehensive loss attributable to Sunvault Energy, Inc. (1,340,822 ) 11,109 (1,329,713 ) Consolidated Statement of Cash Flows Three Months Ended March 31, 2015 As Reported $ Adjustment $ As Restated $ Operating activities Net loss (1,260,643 ) (196,448 ) (1,457,091 ) Adjustments to reconcile net loss to net cash used in operating activities: Accretion of discounts on convertible debt – 297,516 297,516 Changes in operating assets and liabilities: Accounts payable and accrued liabilities 20,564 840 21,404 Deferred revenue (18,030 ) (13,423 ) (31,453 ) Net cash used in operating activities (401,943 ) 88,485 (313,458 ) Effect of foreign exchange rate changes on cash 151,820 (88,485 ) 63,335

1. Basis of Presentation (Detai

1. Basis of Presentation (Details Narrative) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Basis Of Presentation Details Narrative
Working capital deficiency	$ (1,696,305)
Accumulated losses		$ (2,662,441)

3. Accounts Receivable (Details

3. Accounts Receivable (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Accounts Receivable Details
Trade accounts receivable	$ 754,138	$ 898,141
GST receivable	7,938	9,411
Other receivable	$ 1,735	2,522
Total		$ 910,074

4. Inventory (Details)

4. Inventory (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Inventory Details
Agriculture water tanks	$ 17,743	$ 15,727
Tire mulch	17,659	14,881
Tire shred	$ 366,383	513,000
Total		$ 528,727

5. Property and Equipment (Deta

5. Property and Equipment (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Cost	$ 3,144,465
Accumulated amortization	560,632
Net book value		$ 2,372,021
Building [Member]
Cost	86,697
Accumulated amortization	865
Net book value	85,832	94,768
Computer Equipment [Member]
Cost	33,752
Accumulated amortization	15,889
Net book value	17,863	21,168
Field and production equipment [Member]
Cost	1,685,704
Accumulated amortization	438,061
Net book value	1,247,643	1,427,784
Furniture [Member]
Cost	23,164
Accumulated amortization	8,118
Net book value	15,046	12,781
Land [Member]
Cost	$ 67,682
Accumulated amortization
Net book value	$ 67,682	73,982
Transportation Equipment [Member]
Cost	1,183,466
Accumulated amortization	84,075
Net book value	1,099,391	685,737
Truck [Member]
Cost	64,000
Accumulated amortization	13,624
Net book value	$ 50,376	$ 55,801

5. Property and Equipment (De43

5. Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Property And Equipment Details Narrative
Field and production equipment are assets under capital lease	$ 99,448		$ 224,515
Accumulated amortization	7,587		35,898
Transportation equipment are assets under capital lease	1,093,568		586,669
Accumulated amortization	72,229		$ 51,727
Amortization expense	$ 18,498	$ 2,728

8. Goodwill (Details)

8. Goodwill (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Cost	$ 410,319
Foreign currency translation adjustment	40,865
Impairment	(68,005)
Net carrying value		$ 418,851
Coole Immersive Inc.
Cost	137,095
Foreign currency translation adjustment	$ (28,163)
Impairment
Net carrying value	$ 108,932	119,073
Werkman Transport Inc.
Cost	273,224
Foreign currency translation adjustment	69,028
Impairment	(68,005)
Net carrying value	$ 274,247	$ 299,778

9. Accounts Payable and Accru45

9. Accounts Payable and Accrued Liabilities (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Accounts Payable And Accrued Liabilities Details
Trade accounts payable	$ 1,237,605	$ 1,202,012
Accrued liabilities	26,950	63,095
GST payable	39,068	61,165
Income taxes payable	6,484	16,896
Payroll payable	99,926	44,910
Other payable	5,914	6,465
Total	$ 1,415,947	$ 1,394,543

10. Long-term Debt (Details)

10. Long-term Debt (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Long-term Debt Details
Business Development Bank of Canada, repayable in monthly instalments of Cdn$6,000 plus interest at 7%, maturing May 17, 2018, secured by a general interest in all present and after acquired property.	$ 179,797	$ 212,051
Business Development Bank of Canada, repayable in monthly instalments of Cdn$6,667 plus interest at 8%, maturing May 17, 2018, secured by a general interest in all present and after acquired property.	199,784	235,624
John Deere Finance, repayable in monthly installments of Cdn$1,262 including interest at 0%, maturing on January 1, 2018, secured by specific equipment.	33,834	40,248
Long-term Debt	413,415	487,923
Less: current portion	$ (131,809)	(144,080)
Long-term portion		$ 343,843

10. Long-term Debt (Details 1)

10. Long-term Debt (Details 1)	Mar. 31, 2015USD ($)
Long-term Debt Details 1
2,015	$ 98,857
2,016	131,809
2,017	131,809
2,018	50,940
Long-term Debt	$ 413,415

11. Loans Payable (Details Narr

11. Loans Payable (Details Narrative)	Dec. 31, 2014USD ($)
Loans Payable Details Narrative
Loan payable	$ 115,281

12. Capital Lease Obligations49

12. Capital Lease Obligations (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Capital Lease Obligations Details
Treadco Inc., equipment lease repayable in monthly installments of Cdn$5,000 including interest at 12% per annum, due in February 2015, secured by specific field equipment.		$ 23,707
Coast Capital, equipment lease repayable in monthly instalments of Cdn$1,186 including interest at 8.23% per annum, due in July 2017, secured by production equipment.	$ 23,747	28,456
Coast Capital, equipment lease repayable in monthly instalments of Cdn$1,067 including interest at 8.23% per annum, due in July 2017, secured by production equipment.	30,274	34,988
National Leasing Group Inc., equipment lease repayable in monthly installments of Cdn$823, due in June 2019, secured by transportation equipment.	21,794	25,060
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$2,093, due in June 2016, secured by transportation equipment.	23,375	30,335
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$2,123, due in September 2016, secured by transportation equipment.	29,625	37,104
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$4,188, due in June 2018, secured by transportation equipment.	113,005	131,733
Mercado Capital Corporation, equipment lease repayable in monthly installments of Cdn $1,745, due in June 2019, secured by transportation equipment.	58,993	66,649
Blue Chip Leasing Corporation, equipment lease repayable in monthly installments of Cdn$819, due in June 2019, secured by transportation equipment.	21,367	24,630
National Leasing Group Inc., equipment lease repayable in monthly installments of Cdn$783, due in June 2019, secured by transportation equipment.	19,875	22,871
Westana Equipment Leasing Inc., equipment lease repayable in monthly installments of Cdn$2,190, due in June 2019, secured by transportation equipment.	50,519	57,467
Westana Equipment Leasing Inc., equipment lease repayable in monthly installments of Cdn$2,190, due in June 2019, secured by transportation equipment.	50,519	$ 57,467
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$3,674, due in February 2020, secured by transportation equipment.	134,417
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$4,070, due in March 2020, secured by transportation equipment.	154,412
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$6,109 for the first six payments and thereafter to decrease to Cdn$4,345, due in March 2019, secured by transportation equipment.	144,312
Travelers Financial Corporation, equipment lease repayable in monthly installments of Cdn$1,943, due in August 2016, secured by transportation equipment.	22,518
Capital Lease Obligations	898,752	$ 540,467
Less: current portion	$ (232,931)	(163,373)
Long-term portion		$ 377,094

12. Capital Lease Obligations50

12. Capital Lease Obligations (Details 1) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Capital Lease Obligations Details 1
2,015	$ 239,963
2,016	295,159
2,017	251,579
2,018	215,191
2,019	87,401
2,020	12,409
Capital Leases Gross	1,101,702
Less: imputed interest	(202,950)
Capital Leases Net	898,752
Less: current portion	$ (232,931)	$ (163,373)
Long-term portion		$ 377,094

13. Convertible Debt (Details N

13. Convertible Debt (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Stock Price	$ 0.75
Convertible Debt [Member]
Deferred financing costs amortized	$ 2,887
Convertible Debt One [Member]
Deferred financing costs amortized	4,257
Amount received from additional proceeds	423,250		$ 45,513
Intrinsic value for conversion	257,760
Interest expense as debt discount	191,128		9,815
Carrying values of convertible debentures	516,521		$ 146,048
Carrying values of convertible debentures additional	33,499
Convertible Debt Two [Member]
Interest expense as debt discount	8,329
Carrying values of convertible debentures	30,665
Carrying values of convertible debentures additional	$ 10,262

14. Related Party Transactions

14. Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Management fees		$ 126,843
President of 1454004
Amount owed to related party	$ 19,032		$ 20,804
Management fees	13,085		33,989
Labour expense	$ 9,842		3,574
Consulting fees			37,129
Son of President of 1454004
Management fees	$ 11,556		11,556
Labour expense	19,687		$ 11,556
Director 1,454,004
Amount owed to related party	$ 2,169
Management fees			$ 40,787
Chief Executive Officer
Management fees	$ 492,917
Directors
Amount owed to related party	123,673		$ 107,232
Amount owed from related party	3,943		$ 4,310
Management fees	$ 46,612
Consulting fees			$ 7,245
President
Amount owed to related party	$ 17,831		10,286
Amount owed from related party	66,087		56,511
Management fees	$ 30,000		25,000
Consulting fees			25,984
Chief Technology Officer
Amount owed to related party	$ 28,500		19,500
Management fees			$ 75,000
Consulting fees	$ 9,000
President of WTI
Amount owed to related party	110,505		$ 154,209
Management fees	24,158
Labour expense	$ 56,718
Daughter of the President of 1454004
Management fees			$ 20,167
Labour expense	$ 11,284		4,567
Significant Shareholder
Amount owed from related party	208,571		158,886
Consulting fees			36,223
Treasurer and Secretary
Amount owed to related party	14,980		14,980
Shareholder of Coole
Amount owed from related party	17,267		$ 69
Common Control
Amount owed from related party	$ 111,000

15. Common Stock (Details Narra

15. Common Stock (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Deferred compensation as consulting fees	$ 2,548
President of WTI
Common stock issuable	134,916	$ 134,916
Common stock issued to Director
Directors
Common stock issued to Director	$ 486,667

16. Stock Options (Details)

16. Stock Options (Details) - Mar. 31, 2015 - USD ($)	Total
Number of Options
Outstanding Beginning, Balance	3,100,000
Outstanding Ending, Balance	3,100,000
Weighted Average Exercise Price
Outstanding Beginning, Balance	$ 0.10
Outstanding Ending, Balance	$ 0.10
Aggregate Intrinsic Value
Outstanding Beginning, Balance	$ 1,643,000
Outstanding Ending, Balance	$ 1,643,000

16. Stock Options (Details 1)

16. Stock Options (Details 1) - 3 months ended Mar. 31, 2015 - $ / shares	Total
Stock Options Details 1
Range of exercise prices	$ 0.10
Number of shares	3,100,000
Weighted average remaining contractual life(years)	3 years 10 months 24 days
Weighted average exercise price	$ 0.10

17. Share Purchase Warrants (De

17. Share Purchase Warrants (Details) - 3 months ended Mar. 31, 2015 - $ / shares	Total
Share Purchase Warrants Details
Number of warrants, Beginning Balance	527,333
Number of warrants, Ending Balance	527,333
Weighted average exercise price, Beginning Balance	$ 2
Weighted average exercise price, Ending Balance	$ 2

17. Share Purchase Warrants (57

17. Share Purchase Warrants (Details 1) - $ / shares	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Number of Warrants	527,333
Exercise Price	$ 0.10	$ 0.10
Warrant One [Member]
Number of Warrants	60,000
Exercise Price	$ 2
Expiry date	Sep. 16, 2015
Warrant Two [Member]
Number of Warrants	34,000
Exercise Price	$ 2
Expiry date	Sep. 17, 2015
Warrant Three [Member]
Number of Warrants	333,333
Exercise Price	$ 2
Expiry date	Nov. 15, 2015
Warrant Four [Member]
Number of Warrants	100,000
Exercise Price	$ 2
Expiry date	Apr. 15, 2017

19. Segmented Information (Deta

19. Segmented Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segmented Information Details
Recycling services	$ 666,428	$ 1,055,009
Services rig and software revenue	47,105	$ 47,131
Transportation services	591,275
Elimination of inter-segment net revenue	(18,739)
Total consolidated net revenue	$ 1,286,069	$ 1,102,140

19. Segmented Information (De59

19. Segmented Information (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segmented Information Details 1
Recycling services	$ (415,719)	$ (81,274)
Services rig and software revenue	7,215	26,047
Transportation services	34,275
Corporate and other	(821,519)	(68,568)
Total consolidated operating income (loss)	$ (1,195,748)	$ (123,795)

20. Restatement (Details)

20. Restatement (Details) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Assets
Total assets		$ 5,595,374
Current liabilities
Accounts payable and accrued liabilities	$ 1,415,947	1,394,543
Deferred revenue		1,277,787
Total current liabilities		3,573,285
Long-term liabilities		343,843
Convertible debt		371,503
Total liabilities		4,731,452
Stockholders’ equity (deficit)
Additional paid-in capital		2,799,159
Accumulated other comprehensive income		21,623
Deficit		(2,662,441)
Total Sunvault Energy, Inc. stockholders’ equity		370,136
Non-controlling interest		493,786
Total stockholders’ equity (deficit)		863,922
Total liabilities and stockholders' equity (deficit)		$ 5,595,374
Reported [Member]
Assets
Asset held for sale	418,345
Total assets	5,542,988
Current liabilities
Accounts payable and accrued liabilities	1,424,956
Deferred revenue	1,159,211
Total current liabilities	3,523,217
Convertible debt	1,065,344
Total liabilities	5,596,117
Stockholders’ equity (deficit)
Additional paid-in capital	3,133,549
Accumulated other comprehensive income	(59,235)
Deficit	(3,758,807)
Total Sunvault Energy, Inc. stockholders’ equity	16,517
Non-controlling interest	(69,646)
Total stockholders’ equity (deficit)	(53,129)
Total liabilities and stockholders' equity (deficit)	5,542,988
Adjustments [Member]
Assets
Asset held for sale	63,699
Total assets	63,699
Current liabilities
Accounts payable and accrued liabilities	(9,009)
Deferred revenue	87,123
Total current liabilities	78,114
Convertible debt	(252,796)
Total liabilities	(174,682)
Stockholders’ equity (deficit)
Additional paid-in capital	(36,874)
Accumulated other comprehensive income	72,548
Deficit	(225,037)
Total Sunvault Energy, Inc. stockholders’ equity	(189,363)
Non-controlling interest	427,744
Total stockholders’ equity (deficit)	238,381
Total liabilities and stockholders' equity (deficit)	63,699
Restated [Member]
Assets
Asset held for sale	482,044
Total assets	5,606,687
Current liabilities
Accounts payable and accrued liabilities	1,415,947
Deferred revenue	1,246,334
Total current liabilities	3,601,331
Long-term liabilities	281,606
Convertible debt	812,548
Total liabilities	5,421,435
Stockholders’ equity (deficit)
Additional paid-in capital	3,096,675
Accumulated other comprehensive income	13,313
Deficit	(3,983,844)
Total Sunvault Energy, Inc. stockholders’ equity	(172,846)
Non-controlling interest	358,098
Total stockholders’ equity (deficit)	185,252
Total liabilities and stockholders' equity (deficit)	$ 5,606,687

20. Restatement (Details 1)

20. Restatement (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues
Services rig and software revenue		$ 47,131
Total revenues		1,102,140
Gross profit		281,694
Operating expenses
General and administrative		46,971
Total operating expenses		405,489
Net loss before other expense		$ (123,795)
Other expense
Interest expense
Net loss		$ (123,795)
Less: net loss (income) attributable to non-controlling interest		54,045
Net loss attributable to Sunvault Energy, Inc.		(69,750)
Comprehensive loss
Foreign currency translation loss		31,084
Comprehensive loss attributable to Sunvault Energy, Inc.		$ (38,666)
Reported [Member]
Revenues
Services rig and software revenue	$ 42,141
Total revenues	1,281,105
Gross profit	4,015
Operating expenses
General and administrative	211,212
Total operating expenses	1,202,772
Net loss before other expense	(1,198,757)
Other expense
Interest expense	(61,886)
Total other expense	(61,886)
Net loss	(1,260,643)
Less: net loss (income) attributable to non-controlling interest	(551)
Net loss attributable to Sunvault Energy, Inc.	(1,261,194)
Comprehensive loss
Foreign currency translation loss	(79,628)
Comprehensive loss attributable to Sunvault Energy, Inc.	(1,340,822)
Adjustments [Member]
Revenues
Services rig and software revenue	4,964
Total revenues	4,964
Gross profit	4,964
Operating expenses
General and administrative	1,955
Total operating expenses	1,955
Net loss before other expense	3,009
Other expense
Interest expense	(199,457)
Total other expense	(199,457)
Net loss	(196,448)
Less: net loss (income) attributable to non-controlling interest	136,239
Net loss attributable to Sunvault Energy, Inc.	(60,209)
Comprehensive loss
Foreign currency translation loss	71,318
Comprehensive loss attributable to Sunvault Energy, Inc.	11,109
Restated [Member]
Revenues
Services rig and software revenue	47,105
Total revenues	1,286,069
Gross profit	8,979
Operating expenses
General and administrative	213,167
Total operating expenses	1,204,727
Net loss before other expense	(1,195,748)
Other expense
Interest expense	261,343
Total other expense	(261,343)
Net loss	(1,457,091)
Less: net loss (income) attributable to non-controlling interest	135,688
Net loss attributable to Sunvault Energy, Inc.	(1,321,403)
Comprehensive loss
Foreign currency translation loss	(8,310)
Comprehensive loss attributable to Sunvault Energy, Inc.	$ (1,329,713)

20. Restatement (Details 2)

20. Restatement (Details 2) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net loss		$ (123,795)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities		24,008
Deferred revenue		83,405
Net cash used in operating activities		114,859
Effect of foreign exchange rate changes on cash		$ (20,575)
Reported [Member]
Operating activities
Net loss	$ (1,260,643)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discounts on convertible debt
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	$ 20,564
Deferred revenue	(18,030)
Net cash used in operating activities	(401,943)
Effect of foreign exchange rate changes on cash	151,820
Adjustments [Member]
Operating activities
Net loss	(196,448)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discounts on convertible debt	297,516
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	840
Deferred revenue	(13,423)
Net cash used in operating activities	88,485
Effect of foreign exchange rate changes on cash	(88,485)
Restated [Member]
Operating activities
Net loss	(1,457,091)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discounts on convertible debt	297,516
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	21,404
Deferred revenue	(31,453)
Net cash used in operating activities	(313,458)
Effect of foreign exchange rate changes on cash	$ 63,335