UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

[X]	Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
	For the quarterly period ended September 30, 2009
	For the quarterly period ended March 31, 2010
[ ]	Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number: 000-53322

Nugent Engine Technologies, Inc.

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

Florida	26-2676697
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

~~City~~Howard Hughes Center, ~~525~~6080 ~~North~~Center ~~Tryon Street~~Drive, ~~Suite~~6th ~~1600~~Floor, ~~Charlotte~~Los Angeles, NCCA ~~28202~~90045 (Address of principal executive offices)

(310) 694-8072 (Issuer’s Telephone Number) Enterprise V Corporation ~~Howard Hughes Center, 6080 Center Drive, 6th Floor, Los Angeles, CA 90045~~ (Former name, former address and former fiscal year, if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days [X] Yes [ ] No

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

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

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

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 2,100,000 common shares as of ~~November~~June 1323, ~~2009~~ 2010

	TABLE OF CONTENTS	Page
PART I – FINANCIAL INFORMATION
Item 1:	~~Unaudited~~Un-audited Financial Statements	3F-1
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	6
Item 4T:	Controls and Procedures	6
Item 4:	Controls and Procedures	7
PART II – OTHER INFORMATION
Item 1:	Legal Proceedings	7
Item 1A:	Risk Factors	7
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	7
Item 3:	Defaults Upon Senior Securities	7
Item 4:	Submission of Matters to a Vote of Security Holders	7
Item 5:	Other Information	78
Item 6:	Exhibits	78
	SIGNATURES	8

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our unaudited financial statements included in this Form 10-Q are as follows:
F-1	Balance Sheets as of ~~September~~March 3031, ~~2009~~2010 and December 31, ~~2008~~2009 (unaudited);
F-2	Statements of Operations for the three ~~and nine~~ months ended ~~September~~March 3031, 2010 and 2009 and the period from May 22, ~~2008~~2009 (inception) to ~~September~~March 3031, ~~2009~~2010 (unaudited);
F-3	Statements of Cash Flows for ~~the nine month~~ period ended ~~September~~March 3031, 2010 and 2009 and the period from May 22, 2008 (inception) to ~~September~~March 3031, ~~2009~~2010 (unaudited);
F-4	Statement of Stockholder’s Equity (Deficit) from inception (May 22, 2008) through ~~September~~March 3031, ~~2009~~2010 (unaudited);
F-5	Notes to Financial Statements.

3Nugent Engine Technologies, Inc.

NUGENT ENGINE TECHNOLOGIES, INC.
(formerly known as Enterprise V Corporation)
(A Development Stage Company)
BALANCE SHEETS
AS OF SEPTEMBER 30, 2009 AND DECEMBER 31, 2008
	September 30,			December 31,
	2009			2008
ASSETS	(unaudited)			(audited)
Current Assets:
Cash	$	-		$	100
Total Current Assets		-			100
TOTAL ASSETS	$	-		$	100
LIABILITIES AND STOCKHOLDER’S DEFICIT:
Accounts payable	$	-		$	-
Shareholder Loan		-			1,933
Total Current Liabilities		-			1,933
TOTAL LIABILITIES		-			1,933
Stockholder’s Deficit:
Preferred Stock: $.001 Par; 50,000,000 shares authorized, -100,000- issued and outstanding		100			100
Common Stock, $.001 par value; 100,000,000 shares authorized; 2,100,000 shares issued and outstanding		2,100			2,100
Additional Paid-in capital		7,126			-
Deficit Accumulated During the Development Stage		(9,326	)		(4,033	)
Total Stockholder’s Deficit		-			(1,833	)
TOTAL LIABILITIES AND STOCKHOLDER’S DEFICIT	$	-		$	100

(A Development Stage Company)

Balance Sheets

	Mar 31, 2010			Dec 31, 2009


ASSETS
		-			-

TOTAL ASSETS	$	-		$	-

LIABILITIES

TOTAL LIABILITIES		-			-

SHAREHOLDERS' DEFICIT
Preferred Stock: $.001 Par; 50,000,000 shares authorized, -100,000- issued and outstanding		100			100
Common Stock, $.001 par value; 100,000,000 shares authorized; 2,100,000 shares issued and outstanding at March 31, 2010 and December 31, 2009		2,100			2,100
Additional paid-in capital		15,138			8,426
Deficit accumulated during the development phase		(17,338	)		(10,626	)
TOTAL SHAREHOLDERS' DEFICIT		-			-

TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$	-		$	-

The accompanying notes are an integral part of these financial statements.

F-1

NUGENT ENGINE TECHNOLOGIES, INC.
(formerly known as Enterprise V Corporation)
(A Development Stage Company)
STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2009 AND THE PERIOD
FROM INCEPTION (MAY 22, 2008) TO SEPTEMBER 30, 2009
(Unaudited)
							Inception
	Three			Nine			(May
	Months			Months			22, 2008)
	Ended			Ended			Through
	September 30,			September 30			September 30,
	2009			2009				2009
Expenses:
General and Administrative Expenses	$	1,300		$	5,293		$	9,326
Total Operating Expenses		1,300			5,293			9,326
Net Loss	$	(1,300	)	$	(5,293	)	$	(9,326	)
Net Loss per Common Share – Basic and Diluted	$	(0.001	)		(0.003	)	$	(0.004	)
Weighted Average Number Of Common
Shares Outstanding – Basic and Diluted		2,100,000			2,100,000			2,100,000

Nugent Engine Technologies, Inc.

(A Development Stage Company)

Statements of Operations

For the Three Months Ended March 31, 2010 and 2009

And for the Period from Inception (May 22, 2008) to March 31, 2010

	Three Months Ended Mar 31,
	2010			2009			From Inception (5/22/08) to 03/31/10

Revenues	$	-		$	-		$	-

OPERATING EXPENSES
General and administrative expenses		6,712			2,026			17,338

Net operating loss		(6,712	)		(2,026	)		(17,338	)

NET LOSS	$	(6,712	)	$	(2,026	)	$	(17,338	)

Net loss per share, basic and fully diluted	$	-		$	-
Weighted average number of shares outstanding		2,100,000			2,100,000

The accompanying notes are an integral part of these financial statements.

F-2

NUGENT ENGINE TECHNOLOGIES, INC.
(formerly known as Enterprise V Corporation)
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
FOR THE NINE MONTH PERIOD ENDED SEPTEMBER 30, 2009 AND
THE PERIOD FROM INCEPTION (MAY 22, 2008) TO SEPTEMBER 30, 2009 (Unaudited)
				Inception
	Nine			(May
	Months			22, 2008)
	Ended			Through
	September 30,			September 30,
	2009				2009
Cash Flows from Operating Activities:
Net Loss	$	(5,293	)	$	(9,326	)
Changes in: Accounts payable		-			-
Net Cash Flows Used in Operations		(5,293	)		(9,326	)
Cash Flows from Financing Activities:
Cash proceeds from the issuance of founders shares		-			2,200
Advances from Shareholders		5,193			7,126
Net Cash Flows Provided by Financing Activities		5,193			7,126
Net Increase (Decrease) in Cash		(100	)		-
Cash and Cash Equivalents – Beginning of Period		100			-
Cash and Cash Equivalents – End of Period	$	-		$	-
Non-Cash Transactions
Forgiveness of Shareholder Loan	$	5,833		$	5,833
SUPPLEMENTARY INFORMATION
Interest Paid	$	-		$	-
Taxes Paid	$	-		$	-

Nugent Engine Technologies, Inc.

(A Development Stage Company)

Statements of Cash Flows

For the Three Months Ended March 31, 2010 and 2009

And for the Period from Inception (May 22, 2008) to March 31, 2010

	Quarter Ended March 31, 2010
	2010			2009			From Inception (May 22, 2008) to March 31, 2010

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(6,712	)	$	(2,026	)	$	(17,338	)

Adjustments to reconcile net loss with cash used in operations:

Changes in operating assets and liabilities:
Accounts payable and accrued expenses		-			1,000			-

Net cash used in operating activities		(6,712	)		(1,026	)		(17,338	)

CASH FLOWS FROM INVESTING ACTIVITIES
		-			-			-
Net cash provided by / used in investing activities		-			-			-

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of founders' shares		-			1,000			2,200
Expenses paid by related party		6,712			-			9,305
Proceeds from shareholder loan		-			-			5,833

Net cash provided by financing activities		6,712			1,000			17,338

NET INCREASE / (DECREASE) IN CASH		-			(26	)		-

Cash at beginning of period		-			100			-
Cash at end of period	$	-		$	74		$	-

The accompanying notes are an integral part of these financial statements.

F-3

NUGENT ENGINE TECHNOLOGIES, INC.
(formerly known as Enterprise V Corporation)
(A Development Stage Company)
Statements of Stockholder’s Equity (Deficit)
For Period From May 22, 2008 (Inception) Through September 30, 2009 (Unaudited)
											Accumulated			Total
											(Deficit)			Stockholder’s
	Preferred Stock				Common Stock				Additional		During the
	Number of				Number of				Paid-in		Development			Equity
	Shares		Amount		Shares		Amount		Capital		Stage			(Deficit)
Inception – May 22, 2008 (1)		100,000	$	100		-	$	-	$	-	$	-		$	100
Issuance of stock to incorporator for expenses		-		-		2,100,000		2,100		-		-			2,100
Net loss for period												(4,033	)		(4,033	)
Balances – December 31, 2008		100,000		100		2,100,000		2,100		-		(4,033	)		(1,833	)
Contributions from shareholders										1,293					1,293
Forgiveness of Shareholder Loan Contribution										5,833					5,833
Net loss for period		-		-		-		-		-		(5,293	)		(5,293	)
Balances – September 30, 2009		100,000	$	100		2,100,000	$	2,100	$	7,126	$	(9,326	)	$	-

Nugent Engine Technologies, Inc.

(~~1) Series~~ A ~~Preferred~~Development ~~Convertible~~Stage ~~Stock (non-registered~~Company)~~, with one (1) vote per share. The accompanying notes are an integral part of these financial statements.~~

Statements of Stockholder’s Equity (Deficit)

For the Period from Inception (May 22, 2008) to March 31, 2010

(Unaudited)

		Series A Preferred Stock				Common Stock
	Date	Shares		Amount		Shares		Amount		Additional Paid In Capital		Develop. Stage Deficit			Total Shareholders' Deficit

Inception-May 22, 2008			-	$	-		-	$	-	$	-	$	-		$	-

Issued for cash	05/01/08		100,000		100											100

Founders' shares	10/14/08						2,100,000		2,100							2,100

Net loss													(4,033	)		(4,033	)

Balances, 12/31/08			100,000		100		2,100,000		2,100		-		(4,033	)		(1,833	)

Shareholder forgiveness of debt											5,833					5,833
Payments of expenses by shareholder											2,593					2,593
Net loss													(6,593	)		(6,593	)

Balances, 12/31/09			100,000		100		2,100,000		2,100		8,426		(10,626	)		-

Payments of expenses by shareholder											6,712					6,712
Net loss													(6,712	)		(6,712	)

Balances, 03/31/10			100,000	$	100		2,100,000	$	2,100	$	15,138	$	(17,338	)	$	-

The accompanying notes are an integral part of these financial statements.

F-4

NUGENT ENGINE TECHNOLOGIES, INC.

(formerly known as Enterprise V Corporation)

(A DEVELOPMENT STAGE COMPANY)

Notes to Financial Statements

(Unaudited)

NOTE 1 – UNAUDITED FINANCIAL STATEMENTS

In the opinion of management, the accompanying financial statements includes all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at ~~September~~ 30March 31, ~~2009~~2010 and for all periods presented herein, have been made. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in our audited financial statements for the period ended December 31, ~~2008~~2009 as reported in Form 10-K filed with the SEC.

Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.

On October 14, 2008, Twenty Second Trust entered into a purchase agreement to acquire 2,100,000 aggregate Common shares through a private purchase for an aggregate purchase price of $61,905, and 100,000 aggregate Preferred shares through a private purchase for an aggregate purchase price of $3,095 of Nugent Engine Technologies Inc. Twenty Second Trust now has a beneficial ownership of 100% of the Issuer’s common stock based upon 2,100,000 outstanding aggregate registered common shares of stock, and 100% of the Issuer’s preferred convertible stock based upon 100,000 outstanding aggregate unregistered preferred shares of stock.

Recently Adopted Accounting Pronouncements

Effective June 30, 2009, the Company adopted a new accounting standard issued by the FASB related to the disclosure requirements of the fair value of the financial instruments. This standard expands the disclosure requirements of fair value (including the methods and significant assumptions used to estimate fair value) of certain financial instruments to interim period financial statements that were previously only required to be disclosed in financial statements for annual periods. In accordance with this standard, the disclosure requirements have been applied on a prospective basis and did not have a material impact on the Company’s financial statements.

Recently Issued Accounting Standards

In August 2009, the FASB issued an amendment to the accounting standards related to the measurement of liabilities that are recognized or disclosed at fair value on a recurring basis. This standard clarifies how a company should measure the fair value of liabilities and that restrictions preventing the transfer of a liability should not be considered as a factor in the measurement of liabilities within the scope of this standard. This standard is effective for the Company on October 1, 2009. The Company does not expect the impact of its adoption to be material to its financial statements.

In October 2009, the FASB issued an amendment to the accounting standards related to the accounting for revenue in arrangements with multiple deliverables including how the arrangement consideration is allocated among delivered and undelivered items of the arrangement. Among the amendments, this standard eliminated the use of the residual method for allocating arrangement considerations and requires an entity to allocate the overall consideration to each deliverable based on an estimated selling price of each individual deliverable in the arrangement in the absence of having vendor-specific objective evidence or other third party evidence of fair value of the undelivered items. This standard also provides further guidance on how to determine a separate unit of accounting in a multiple-deliverable revenue arrangement and expands the disclosure requirements about the judgments made in applying the estimated selling price method and how those judgments affect the timing or amount of revenue recognition. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

In October 2009, the FASB issued an amendment to the accounting standards related to certain revenue arrangements that include software elements. This standard clarifies the existing accounting guidance such that tangible products that contain both software and non-software components that function together to deliver the product’s essential functionality, shall be excluded from the scope of the software revenue recognition accounting standards. Accordingly, sales of these products may fall within the scope of other revenue recognition standards or may now be within the scope of this standard and may require an allocation of the arrangement consideration for each element of the arrangement. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

F-5

NOTE 2 - GOING CONCERN

Nugent Engine Technologies, Inc. (“NET” or the “Company”), does not meet the test of “going concern;” instead the corporation was formed to pursue a business combination with target business opportunity yet to be finalized and to provide a method for a domestic or foreign private company to become a reporting company whose securities would be qualified for trading in the United States secondary market. As of this date the company has not finalized a business combination and there can be no assurances that we will be successful in locating or negotiating with any target business opportunity and, as such, the Company has been in the developmental stage since inception and have no other operations to date other than issuing shares to our original shareholders. NET’s financial statements have been prepared on a development stage company basis. Substantial doubt exists as to NET's ability to continue as a going concern. No adjustment has been made to these financial statements for the outcome of this uncertainty.

NOTE 3 – RELATED PARTY TRANSACTIONS

During ~~the~~ ~~nine month period ended September 30, 2009, shareholders contributed capital to~~ the ~~Company in the amount of $5,193. For the~~ three month period ended ~~September~~ 30March 31, 2009, ~~shareholders contributed capital to~~ the ~~Company~~sole ~~in the amount of $1~~shareholder,~~293. The~~ ~~shareholder~~Twenty ~~loan~~Second ~~balance~~Trust ~~was~~paid $16,~~933~~712 ~~on December 31, 2008 (interest expense is not imputed due to immateriality). During the nine month period ended September 30, 2009 shareholders forgave the shareholders loan balance~~ of ~~$5,833;~~expenses ~~this~~which ~~contribution~~were isclassified ~~included~~ as anAdministrative ~~increase~~Costs toand ~~additional paid~~Additional inPain ~~capital~~In Capital.

F-65

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

Forward Looking Statements

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

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

Company Overview and Plan of Operation

The Company has been in existence less than one year with no operations comparable financial information is not provided.

Nugent Engine Technologies, Inc. (“NET” or the “Company”) is a development stage company. Currently, NET is working the development, as well as sourcing (exploring licensing), advance engine technologies. At present, the Company has no current operating income.

The Company was organized as a vehicle to investigate and, if such investigation warrants, combine with a target business opportunity seeking the perceived advantages of being a publicly held corporation. During the next 12 months we anticipate incurring costs related to filing of Exchange Act reports and costs related to consummating a business combination. The Company does not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations for the next 12 months will be paid with money in our treasury and additional amounts, as necessary, will be loaned to or invested in the Company by our stockholders, management or other investors.

The Company may consider a business opportunity which has recently commenced operations, or is a developing company in need of additional funds for expansion into new products or markets, or is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination, acquisition or merger may be concluded with a company that does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense and loss of voting control which may occur in a public offering.

Our officers and director have not had any binding contact or discussions with any representative of any other entity regarding a business combination with the Company. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent on a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

The Company anticipates that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapidly changing technologies occurring in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital that we will have and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other-4-

4The Company anticipates that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapidly changing technologies occurring in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital that we will have and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

We do not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations for the next 12 months and beyond such time will be paid with money in our treasury, if any, or with additional money contributed by Twenty Second Trust, our sole stockholder, or another source.

During the next 12 months, we anticipate incurring costs related to filing of Exchange Act reports and costs relating to consummating an acquisition. We believe we will be able to meet these costs through use of funds in our treasury and additional amounts, as necessary, to be loaned to or invested in us by our stockholders, management or other investors.

We may also consider a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

Our President, Treasurer and Director, Mr. Micheal Nugent, has not had any preliminary contact or discussions with any representative of any other entity regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

Our management anticipates that it will likely be able to effect only one business combination, due primarily to our limited financing, and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management's plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization. This lack of diversification should be considered a substantial risk in investing in us, because it will not permit us to offset potential losses from one venture against gains from another.

We anticipate that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital that we will have and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

~~Results of Operations for the nine months ended September 30, 2009.~~-5-

WeResults ~~did not earn any revenues from January 1, 2009 through September 30, 2009. We recognized a net loss~~ of ~~$5,293~~Operations for the ~~nine~~three months ended ~~September~~March 3031, ~~2009. Expenses~~ ~~during this period were comprised of costs related to filings of Exchange Act reports and costs associated with consummating an acquisition~~2010.

We did not earn any revenues from inception (May 22, 2008) through March 31, 2010 and recognized a net loss of $6,712 for the three months ended March 31, 2010 and $17,338 for the period from inception (May 22, 2008) to March 31, 2010.. The expenses during this period and those expenses expected during the next 12 months are comprised of costs relating to filings of Exchange Act reports and costs associated with consummating an acquisition which are paid by our sole stockholder, Twenty Second Trust.

Liquidity and Capital Resources

As of ~~September~~ 30March 31, ~~2009~~2010, we had no significant capital resources. We currently do not engage nor intend to engage in any in business activities that provide cash flow until we enter into a successful business combination. We rely upon funds in our treasury, if any, or upon additional funds contributed by Twenty Second Trust, our sole stockholder, to fund administrative expenses and the investigation and analysis of potential business combinations.

Off Balance Sheet Arrangements

As of ~~September~~ 30March 31, ~~2009~~2010, there were no off balance sheet arrangements.

Going Concern

Our financial statements are prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. We have had no revenues and have generated no operations.

In order to continue as a going concern and achieve a profitable level of operation, we will need, among other things, additional capital resources and to develop a consistent source of revenues. Management's plans include seeking a merger with an existing operating company.

Our ability to continue as a going concern is dependent upon our ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements in this report do not include any adjustments that might be necessary if we are unable to continue as a going concern.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

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

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Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act (defined below)). Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of the end of the period covered in this report, our disclosure controls and procedures were not effective to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (the "Exchange Act") is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Our management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Accordingly, management believes that the financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.

Changes in Internal Control over Financial Reporting

In addition, our management with the participation of our Principal Executive Officer and Principal Financial Officer have determined that no change in our internal control over financial reporting occurred during or subsequent to the quarter ended January 31, ~~2009~~2010 that has materially affected, or is (as that term is defined in Rules 13(a)-15(f) and 15(d)-15(f) of the Securities Exchange Act of 1934) reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

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

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

None

Item 3. Defaults upon Senior Securities

None

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

No matters have been submitted to our security holders for a vote, through the solicitation of proxies or otherwise, during the quarterly period ended ~~September~~ 30March 31, ~~2009~~2010.

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Item 5. Other Information

None

Item 6. Exhibits

Exhibit Number	Description of Exhibit
3.1	Articles of Incorporation (1)
3.2	By-Laws (1)
31.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(1)	Previously included as an exhibit to the Registration Statement on Form 10-SB12G filed on November 20, 2007

SIGNATURES

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

Nugent Engine Technologies, Inc.

By: /s/ Micheal Nugent

Micheal Nugent

Chief Executive Officer

Nugent Engine Technologies, Inc.

By: /s/ Robert Smith

Robert Smith

~~Corporate Secretary~~Chief &Executive Officer

Date: June 24, 2010

Nugent Engine Technologies, Inc.

By: /s/ Micheal Nugent

Micheal Nugent

Chief Financial Officer

7Date: June 24, 2010

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