DESCRIPTION OF BUSINESS AND DEVELOPMENT STAGE RISK

3 Months Ended

Mar. 31, 2012

DESCRIPTION OF BUSINESS AND DEVELOPMENT STAGE RISK [Abstract]

DESCRIPTION OF BUSINESS AND DEVELOPMENT STAGE RISK

NOTE 2 - DESCRIPTION OF BUSINESS AND DEVELOPMENT STAGE RISK

Description of Business

ECOLIVEGREEN CORP. ("ELG CORP.", "EcoLiveGreen Corp") is a development stage company, incorporated in the State of Florida on November 5, 2008, to acquire, develop and market environmentally efficient products including, but not limited to, applications of patents with the U.S. Patent and Trademark Office.

In third quarter 2008, three (3) engineers founded our company and continued the discussions of filing patents related to developing products having ecological properties together with the potential of economic substance. The Company's initial application was submitted to the U.S. Patent and Trademark Office (USPTO) in the science of Light-emitting Diode (LED) technology which ultimately resulted in several modifications having the initial patent issuance on June 29, 2010. Currently, the company has filed patent applications in three (3) distinct and separate areas as further explained below. At March 31, 2012, the summary of patent applications and issuances are as follows:


	·	Patents Issued: six (6) having two (2) in the field of LED lighting and three (4) in the field of waste water concentrator systems

	·	Applications with Notices of Allowance: None

	·	Additional Applications Pending with the USPTO : three (3) having two (2) in the field of LED lighting and one (1) in the field of digital music

	·	One (1) Application for certain territorial rights under the Patent Cooperation Treaty (PCT) in the field of waste water concentrator

The following further describes the Company's applications and patent issuances with the USPTO:

LED CEILING TILE TROFFER REPLACEMENT

This product has several patented and patent pending technologies included within. It is a simple plug-and-play luminaire that simply replaces a ceiling tile. Power is supplied via a plug that comes from a transformer mounted above the ceiling. Only the transformer needs to be installed by a licensed electrician. The tiles may be moved around the drop ceiling at will by any non-licensed maintenance man. Additionally, these tiles light the room with healthful color rather than the cold white color that is typical of standard fluorescent lamps. The color may be adjusted from warm to cooler white depending upon the location. Also, patented technology allows the light to automatically adjust to the ambient lighting conditions to reduce light output when not needed. This saves money, energy, and the environment. The LED tiles contain no mercury, as do fluorescent lamps. Several patents protect the way the light is distributed from the LED tile so that eyes are not damaged by intense light typical of modern high-powered LEDs.

SANITARY WASTEWATER CONCENTRATOR

It is the norm for municipalities and other urban developments to collect the generated sanitary wastewater from homes, schools, hospitals, restaurants, hotels and other commercial establishments through its defined wastewater systems. The wastewater is transported in the collection system of underground pipes which flow by gravity or by a pressurized pumping process to a centralized (regional) treatment facility for purification and final disposal of the water and solids generated.

The waste water collection system, can in some instances, become hydraulically overloaded due to urban sprawl. Alternatively, the rate of flow can exceed the capacity of the sewer main piping which causes flow and capacity concerns. To best solve this problem it may be necessary to lay a parallel pipeline and increase the hydraulic pressure on the system to increase the force of wastewater through the existing pipe at the additional cost, including but not limited to, laying of the pipeline, disruption or limitation of normal services, energy and safety issues.

Our invention claims a system constructed of a group of components located at a strategic position along the pipeline of the sewage collection system positioned upstream of the regional treatment facility based on the sewer main calculated at the excessive hydraulic loading point.

The collected array of components forms a system for separating a portion of the solids from a portion of the wastewater. The concentrated solids are reintroduced into the collection system for transport to the treatment plant; the separated and purified water can then be reused locally for land irrigation or industrial applications. Our inventive system is equipped with controls to adjust for variations in the daily or seasonal hydraulic loading of the piping system.

MINIATURE HYBRID REVERBERATION SYSTEM

Modern Reverberation in sound studios is accomplished using Digital Signal Processing. Legacy Reverberation systems used large chamber rooms with cement walls, large plates the size of a queen sized mattress, and springs for less realistic lower cost reverb. In our modern world, there is always a great demand for legacy systems since the sound can never be 100% duplicated by modern Digital Signal Processing. However, these legacy systems are huge taking as much real-estate as the sound room itself. To justify this problem, we have invented a hybrid system. Using patent pending technology, we miniaturize the large chamber room and large plates into a rack sized system.

As of March 31, 2012, we had an accumulated deficit of ($243,956). Our auditors have raised substantial doubt as to our ability to continue as a going concern, as expressed in its opinion on our financial statements included in this report. Our ability to continue as a going concern is dependent upon our ability to generate profitable operations in the future and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. There can be no assurance that we will operate at a profit or such additional financing will be available, or if available, can be obtained on satisfactory terms.

On June 8, 2010, the company amended its articles of incorporation and bylaws to increase the authorized common stock to 500,000,000 common shares and provide for 10,000,000 shares of "blank check" preferred stock, each with a par value of $0.001 per share.

Our principal executive office is located at 7076 Spyglass Avenue, Parkland, FL 33076. Our telephone number is (954) 599-3672. Our fiscal year ends on December 31.

Basis of Presentation

The accompanying consolidated financial statements have been prepared by the Company. The Company's consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP").

Going Concern

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Management's Plan to Continue as a Going Concern

The Company has met its historical working capital requirements from the sale of its capital shares and loans from its independent consultant, Steven Adelstein. In order to continue as a going concern, the Company will need, among other things, additional capital resources.

Management's plans to obtain such resources for the Company include obtaining capital from the sale of common stock of the Company and/or financing from independent third parties. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.

Development Stage Risk

Since its inception, the Company has been dependent upon the receipt of capital investment to fund its continuing activities. In addition to the normal risks associated with a new business venture, there can be no assurance that the Company's business plan will be successfully executed. Our ability to execute our business plan will depend on our ability to obtain additional financing and achieve a profitable level of operations. There can be no assurance that sufficient financing will be obtained. Further, we cannot give any assurance that we will generate substantial revenues or that our business operations will prove to be profitable.

Ecolivegreen Corp 10-Q