UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

(Amendment No. 1)

(Mark One)

x AMENDED QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2010

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 333-148425

Structural Enhancement Technologies Corp.

(Exact name of Registrant as specified in its charter)

Delaware

(State or other jurisdiction of Incorporation or organization)

11-3460949

(IRS Employee Identification No.)

40 Marcus Avenue

Hauppauge, NY 11788

(Address of principal executive offices)

(631) 560-4108

(Registrant’s telephone number, including area code)

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

Indicate by check mark whether the Registrant (1) has 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 registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No o

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	o	Accelerated Filer	o
Non-accelerated filer	o	Smaller reporting company	x
(Do not check if a smaller reporting company)

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

The number of shares of common stock of the issuer outstanding as of August 15, 2011, was 24,039,472 shares of common stock.

TABLE OF CONTENTS

Structural Enhancement Technologies Corp.


	Part I – Financial Information - Unaudited
		Page No.
Item 1.	Financial Statements		3

	Balance Sheets as of September 30, 2010, and December 31, 2009		3

	Statements of Operations for the Nine Months Ended September 30, 2010, and 2009, and Cumulative from Inception		4

	Statements of Cash Flows for the Nine Months Ended September 30, 2010, and 2009, and Cumulative from Inception		5

	Notes to the Financial Statements September 30, 2010, and 2009		6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		23

Item 3.	Quantitative and Qualitative Disclosures About Market Risks		39

Item 4.	Controls and Procedures		39

Part II – Other Information

Item 1.	Legal Proceedings		40

Item 1A.	Risk Factors		40

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		40

Item 3.	Defaults Upon Senior Securities		40

Item 4.	Submission of Matters to a Vote of Security Holders		40

Item 5.	Other Information		40

Item 6.	Exhibits		41

PART I – FINANCIAL INFORMATION – UNAUDITED

ITEM 1. FINANCIAL STATEMENTS

STRUCTURAL ENHANCEMENT TECHNOLOGIES CORP.

(FORMERLY EXTREME MOBILE COATINGS WORLDWIDE CORP.)

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS (NOTE 2)

AS OF SEPTEMBER 30, 2010, AND DECEMBER 31, 2009

(Unaudited)

	As of			As of
	September 30,			December 31,
	2010			2009
ASSETS
Current Assets:
Cash on hand	$	56		$	1,780
Accounts receivable - Trade		6,911			1,675
Prepaid expenses - Consulting and rent		50,973			5,667

Total current assets		57,940			9,122

Property and Equipment:
Office and computer equipment		13,682			13,682
Trailer		34,200			34,200

		47,882			47,882
Less - Accumulated depreciation		(23,968	)		(16,936	)

Net property and equipment		23,914			30,946

Other Assets:
License agreement (net of accumulated amortization of $9,684 and $7,703,
in 2010, and 2009, respectively)		42,239			44,220
Trademark (net of accumulated amortization of $779 and $509 in 2010
and 2009, respectively)		780			1,050
Patents pending		5,000			-
Goodwill		1,277,694			-

Total other assets		1,325,713			45,270

Total Assets	$	1,407,567		$	85,338

LIABILITIES AND STOCKHOLDERS' (DEFICIT)

Current Liabilities:
Checks in excess of bank balance		9,151			-
Current portion of long-term debt		538,738			83,517
Accounts payable - Trade		161,762			134,146
Accrued liabilities		337,588			352,608
Due to related parties - Directors, officers, and stockholders		479,766			495,002
Promissory note - Environmental Infrastructure Holdings Corp.
(formerly XIOM Corp.) - Related party		50,000			158,500
Short-term loan		100,000			50,000
Other current liabilities		50,000			-

Total current liabilities		1,727,005			1,273,773

Long-term Debt, less current portion:
Bank loan		73,718			138,495
Other long-term debt		218,433			-

Total long-term debt		292,151			138,495

Total liabilities		2,019,156			1,412,268

Commitments and Contingencies

Stockholders' (Deficit):
Common stock, $0.0001 par value, 1,000,000,000 shares
authorized; 6,639,472 and 2,145,094 shares issued
and outstanding in 2010, and 2009, respectively		664			215
Additional paid-in capital		3,310,559			490,208
(Deficit) accumulated during the development stage		(3,922,812	)		(1,817,353	)

Total stockholders' (deficit)		(611,589	)		(1,326,930	)

Total Liabilities and Stockholders' (Deficit)	$	1,407,567		$	85,338

The accompanying notes to financial statements are an integral part of this balance sheet.

STRUCTURAL ENHANCEMENT TECHNOLOGIES CORP.

(FORMERLY EXTREME MOBILE COATINGS WORLDWIDE CORP.)

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS (NOTE 2)

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010, AND 2009,

AND CUMULATIVE FROM INCEPTION (JULY 28, 2004) THROUGH SEPTEMBER 30, 2010

(Unaudited)

	For Three Months Ended						For Nine Months Ended						Cumulative
	September 30,						September 30,						From
	2010			2009			2010			2009			Inception

Revenues	$	12,926		$	6,451		$	25,383		$	15,896		$	45,778

Expenses:
General and administrative		85,730			116,609			307,575			193,718			1,271,100
Stock-based compensation for issued stock options		269,125			-			1,226,625			-			1,226,625
Professional fees paid by issued common stock		275,000			78,000			562,000			137,121			969,621
Depreciation and amortization		3,094			3,077			9,282			10,208			34,429

Total expenses		632,949			197,686			2,105,482			341,047			3,501,775

(Loss) from Operations		(620,023	)		(191,235	)		(2,080,099	)		(325,151	)		(3,455,997	)

Other Income (Expense):
Interest (expense)		(11,212	)		(5,899	)		(25,360	)		(16,852	)		(110,014	)
(Loss) on asset purchase agreement		-			-			-			-			(356,801	)

Total Other Income (Expense)		(11,212	)		(5,899	)		(25,360	)		(16,852	)		(466,815	)

Provision for Income Taxes		-			-			-			-			-

Net (Loss)	$	(631,235	)	$	(197,134	)	$	(2,105,459	)	$	(342,003	)	$	(3,922,812	)

(Loss) Per Common Share:
(Loss) per common share - Basic and Diluted	$	(0.11	)	$	(0.11	)	$	(0.53	)	$	(0.19	)

Weighted Average Number of Common Shares
Outstanding - Basic and Diluted		5,975,407			1,860,094			3,975,363			1,823,262

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

STRUCTURAL ENHANCEMENT TECHNOLOGIES CORP.

(FORMERLY EXTREME MOBILE COATINGS WORLDWIDE CORP.)

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS (NOTE 2)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010, AND 2009,

AND CUMULATIVE FROM INCEPTION (JULY 28, 2004) THROUGH SEPTEMBER 30, 2010

(Unaudited)

	For the Nine Months Ended						Cumulative
	September 30,						From
	2010			2009			Inception

Operating Activities:
Net (loss)	$	(2,105,459	)	$	(342,003	)	$	(3,922,812	)
Adjustments to reconcile net (loss) to net cash
(used in) operating activities:
Depreciation and amortization		9,282			10,208			34,430
Loss on asset purchase agreement		-			-			356,801
Impact of recapitalization from reverse merger		-			-			54,797
Common stock issued for services and compensation		562,000			137,121			969,621
Stock-based compensation for issued stock options		1,226,625			-			1,226,625
Changes in net assets and liabilities-
Accounts receivable - Trade		(5,236	)		(1,414	)		(6,911	)
Prepaid expenses		(45,306	)		(4,788	)		(50,973	)
Security deposit and other		-			(89	)		-
Accounts payable - Trade		17,750			41,788			151,896
Accrued liabilities		(31,822	)		53,681			320,786

Net Cash (Used in) Operating Activities		(372,166	)		(105,496	)		(865,740	)

Investing Activities:
Purchases of equipment		-			-			(47,882	)
Asset purchase agreement		-			(15,000	)		(360,000	)
Partial repayment of purchase price - Asset purchase agreement		-			-			3,199
License agreement		-			-			(25,000	)
Trademark		-			(568	)		(1,559	)

Net Cash (Used in) Investing Activities		-			(15,568	)		(431,242	)

Financing Activities:
Proceeds from long-term debt		-			-			400,000
Payments of principal on long-term debt		(61,122	)		(60,163	)		(239,110	)
Checks in excess of bank balance		9,151						9,151
Issuance of common stock for cash		-			-			1,082
Proceeds from promissory note - EIHC - Related Party		-			-			158,500
Proceeds from loans from unrelated party		-			-			7,675
Payments on loans from unrelated party		-			-			(7,675	)
Proceeds from loans from related parties - Directors and stockholders		372,588			-			881,090
Payments on loans from related parties - Directors and stockholders		(175	)		-			(13,675	)
Proceeds from short-term loan		50,000			182,591			100,000

Net Cash Provided by Financing Activities		370,442			122,428			1,297,038

Net Increase (Decrease) in Cash		(1,724	)		1,364			56

Cash - Beginning of Period		1,780			1,749			-

Cash - End of Period	$	56		$	3,113		$	56

Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for:
Interest	$	4,258		$	16,852		$	81,694
Income taxes	$	-		$	-		$	-

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

STRUCTURAL ENHANCEMENT TECHNOLOGIES CORP.

(FORMERLY EXTREME MOBILE COATINGS WORLDWIDE CORP.)

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS (NOTE 2)

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010, AND 2009,

AND CUMULATIVE FROM INCEPTION (JULY 28, 2004) THROUGH SEPTEMBER 30, 2010

(Unaudited)

Supplemental Information of Noncash Investing and Financing Activities:

Effective February 2, 2007, the Company issued 451,193 shares of its common stock (post reverse stock split) in connection with a master licensing agreement with Environmental Infrastructure Holdings Corp. (fka XIOM Corp.) valued at $26,923.

On September 16, 2008, the Company issued 61,387 shares of common stock (post reverse stock split) for professional services valued at $55,000.

As part of the reverse merger transaction effected on September 16, 2008, former Directors and officers of the Company forgave the amount of $18,435 owed to them. The amount forgiven of $18,435 has been classified as additional paid-in capital in the acc

On February 9, 2009, the Company issued 15,000 shares of common stock (post reverse stock split) for professional services valued at $50,000.

On June 19, 2009, the Company issued 5,500 shares of common stock (post reverse stock split) for professional services valued at $84,121.

On August 20, 2009, the Company issued 100,625 shares of common stock (post reverse stock split) for professional services valued at $78,000.

On October 9, 2009, the Company issued 137,500 shares of common stock (post reverse stock split) for professional services valued at $75,000.

On November 9, 2009, the Company issued 60,000 shares of common stock (post reverse stock split) for professional services valued at $48,000.

On November 12, 2009, the Company issued 35,000 shares of common stock (post reverse stock split) for professional services valued at $17,500.

On January 22, 2010, the Company issued 80,000 shares of common stock (post reverse stock split) for consulting services valued at $40,000.

On January 27, 2010, the Company issued 7,500 shares of common stock (post reverse stock split) to an employee and to an officer as compensation for services valued at $75,000.

On February 1, 2010, the Company issued 89,000 shares of common stock (post reverse stock split) for consulting services valued at $44,500.

On February 1, 2010, the Company issued 50,000 shares of common stock (post reverse stock split) valued at $25,000 to shareholders as payment on debt owed to the shareholders.

On February 1, 2010, the Company issued 40,000 shares of common stock (post reverse stock split) to a Director and officer as compensation for services valued at $20,000.

On February 12, 2010, the Company issued 110,000 shares of common stock (post reverse stock split) as payment of $55,000 on a promissory note.

On February 25, 2010, the Company issued 15,000 shares of common stock (post reverse stock split) for consulting services valued at $7,500.

On March 4, 2010, the Company issued 107,000 shares of common stock (post reverse stock split) as payment of $53,500 on a promissory note.

On March 11, 2010, a Director of the Company exercised 100,000 options in a cashless transaction, and was issued 72,223 shares of common stock (post reverse stock split) valued at $82,000.

On May 13, 2010, the Company issued 500,000 shares of common stock (post reverse stock split) valued at $456,000 to the shareholders of Reflectkote as required under the Asset Purchase Agreement with Reflectkote.

On May 14, 2010, the Company issued 20,000 shares of common stock (post reverse stock split) for the partial payment of $24,000 on accounts payable.

On May 19, 2010, the Company issued 200,000 shares of common stock (post reverse stock split) for consulting services valued at $100,000.

On May 19, 2010, the Company issued 800,000 shares of common stock (post reverse stock split) to a Director and to an officer of the Company for partial payment of $400,000 on loans from these related parties.

On July 23, 2010, the Company issued 100,000 shares of common stock (post reverse stock split) to a Consultant for services to be rendered. The transaction is valued at $50,000.

On July 27, 2010, the Company issued 34,286 shares of common stock (post reverse stock split) to a related party for services rendered. The value of the transaction was $12,000.

On July 27, 2010, the Company issued 19,330 shares of common stock (post reverse stock split) to a related party for services rendered. The value of the transaction was $6,675.

On July 27, 2010, the Company issued 750,000 shares of common stock (post reverse stock split) to a Director and to an officer of the Company regarding an employment agreement. The transaction was valued at $75,000.

On July 27, 2010, the Company issued 500,000 shares of common stock (post reverse stock split) to a Director and to an officer of the Company regarding an employment agreement. The transaction was valued at $50,000.

On July 27, 2010 the Company issued 250,000 shares of common stock (post reverse stock split) to a Consultant for services to be rendered. The value of the transaction was $25,000.

On July 27, 2010 the Company issued 250,000 shares of common stock (post reverse stock split) to a Consultant for services rendered. The value of the transaction was $25,000.

(1).	Summary of Significant Accounting Policies

Basis of Presentation and Organization

Structural Enhancement Technologies Corp. (Formerly Extreme Mobile Coatings Worldwide Corp.) (“Structural” or the “Company”) is a Delaware corporation in the development stage. The Company was incorporated under the laws of the United Kingdom as T&T Homes Limited on July 28, 2004. On November 25, 2004, the Company changed its name to Falcon Media Services, Ltd. On November 12, 2008, the Company changed its name to Extreme Mobile Coatings Corp., Ltd. On March 2, 2009, the Company changed its name to Extreme Mobile Coatings Worldwide Corp. Lastly, on May 19, 2010, the Company amended its name to Structural Enhancement Technologies Corp. to indicate the growing business plan of increasing in other areas of operations and coatings.

On September 16, 2008, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement #1”) with Extreme Mobile Coatings, Inc. (“EMC”), a Delaware corporation, and its stockholders pursuant to which the Company agreed to acquire 100 percent of outstanding shares of EMC in exchange for 1,350,509 shares of common stock (post reverse stock split) of the Company. Originally, the business plan of the Company was to sell cellular phone content to joint venture partners within the Middle East. The cellular phone content that was to be offered throughout the Middle East included highlights of the Premier League’s football (American soccer) matches and other media. However, as of September 16, 2008, the Company discontinued this business plan to focus on establishing franchises to market, use, and sell coating products and equipment licensed from Environmental Infrastructure Holdings Corp. (“EIHC” and formerly XIOM Corp.) The accompanying financial statements were prepared from the accounts of the Company under the accrual basis of accounting.

Given that EMC is considered to have acquired the Company by a reverse merger through the Share Exchange Agreement #1, and its former stockholders currently have voting control of the Company, the accompanying financial statements and related disclosures in the notes to financial statements present the financial position as of September 30,2010, and December 31, 2009, and the operations for the three and nine months ended September 30, 2010, and 2009, and cumulative from inception of EMC under the name of Structural. The reverse merger has been recorded as a recapitalization of the Company, with the net assets of EMC and Structural brought forward at their historical bases. The costs associated with the reverse merger have been expensed as incurred.

On March 2, 2009, the Company completed a second Share Exchange Agreement (the “Share Exchange Agreement #2”) between the Company, as Extreme Mobile Coatings Corp, Ltd. and Extreme Mobile Coatings Worldwide Corp., a newly formed Delaware corporation. The Share Exchange Agreement #2 was completed in order to change the domicile of the Company from the United Kingdom to the State of Delaware, the authorized common stock to 500,000,000 shares, par value $0.0001 per share, and the name of the Company from Extreme Mobile Coatings Corp. Ltd. to Extreme Mobile Coatings Worldwide Corp. The Company exchanged 1,791,469 shares of its common stock (post reverse stock split) for a like number of shares of common stock of the newly formed Delaware Corporation. In addition, the Certificate of Incorporation of Extreme Mobile Coatings Worldwide Corp. became the Certificate of Incorporation of the Company.

On May 19, 2010, the Company amended its name to Structural Enhancement Technologies Corp. and effected a 1-for-100 reverse stock split of its issued and outstanding common stock.

Unaudited Interim Financial Statements

The interim financial statements of Structural as of September 30, 2010, and December 31, 2009, and for the three-month and nine-month periods ended September 30, 2010, and 2009, and cumulative from inception, have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim reporting, and in accordance with the requirements for Quarterly Reports on Form 10-Q. The accompanying interim financial statements are unaudited and are subject to year-end adjustments. In the opinion of management, the financial statements include all known adjustments (which consist primarily of normal, recurring accruals, estimates, and assumptions that impact the financial statements) necessary to present fairly the financial position at the balance sheet dates and the results of operations for the three-month and nine-month periods then ended. The balance sheet as of December 31, 2009, presented herein, has been derived from the Company’s audited balance sheet included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009, but does not include all disclosures required by GAAP. The accompanying financial statements should be read in conjunction with the financial statements and footnotes thereto included within the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009. The results of operations for the nine months ended September 30, 2010, are not necessarily indicative of operating results of the full year ending December 31, 2010.

Cash and Cash Equivalents

For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.

Property and Equipment

Property and equipment are recorded at historical cost. Minor additions and renewals are expensed in the year incurred. Major additions and renewals are capitalized and depreciated over their estimated useful lives. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the results of operations for the respective period. The Company uses the straight-line method of depreciation. The estimated useful lives for significant property and equipment categories are as follows:

Office and computer equipment	5-10 years
Trailer	5 years

License Agreement

The Company capitalizes the costs incurred to acquire franchise rights. Such costs are amortized over the remaining useful life of the related rights (see Note 3).

Trademark

The Company obtained a servicemark from the State of Kentucky effective December 26, 2007, and registered it with the U.S. Patent and Trademark Office. The servicemark covers the name “Extreme Mobile Coating.” The cost of obtaining the servicemark has been capitalized by the Company, and is being amortized over a period of five years.

Patents

The Company acquired two pending patents in the Asset Purchase Agreement with Reflectkote, Inc. (“Reflectkote”), dated March 10, 2010 (see Note 4). The cost of obtaining the patents has been capitalized by the Company, and will be amortized once the related patents are issued, and a useful life is determined.

Revenue Recognition

The Company recognizes revenues from the development and sale of franchises and licensed products and equipment. Revenues are recognized for financial reporting purposes when delivery has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by the customer, the fee is fixed or determinable, and collection of the related receivable is probable.

Impairment of Long-Lived Assets

The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. For the nine months ended September 30, 2010, and 2009, no events or circumstances occurred for which an evaluation of the recoverability of long-lived assets was required.

Loss Per Common Share

Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.

Income Taxes

For the period ended December 31, 2007, and through January 25, 2008, EMC was a partnership for income tax purposes. Income or losses from EMC were combined with the income and expenses of the members from other sources and reported in the members’ individual federal and state income tax returns. EMC was not a taxpaying entity for federal and state income tax purposes; therefore, no income tax expense was recorded in the financial statements. Income of EMC was taxed to the members on their respective income tax returns.

Subsequent to January 25, 2008, EMC became a corporation for income tax purposes. As such, the Company and EMC account for income taxes pursuant to FASB ASC Topic 740, “Income Taxes.” Under FASB ASC Topic 740, deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences.

Fair Value of Financial Instruments

The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of September 30, 2010, and December 31, 2009, the carrying value of financial instruments approximated fair value due to the short-term maturity of these instruments.

Deferred Offering Costs

The Company defers as other assets the direct incremental costs of raising capital until such time as the offering is completed. At the time of the completion of the offering, the costs are charged against the capital raised. Should the offering be terminated, deferred offering costs are charged to operations during the period in which the offering is terminated.

Concentration of Risk

As of September 30, 2010, and December 31, 2009, the Company maintained its cash account at one commercial bank. The balance in the account was subject to FDIC coverage.

Common Stock Registration Expenses

The Company considers incremental costs and expenses related to the registration of equity securities with the SEC, whether by contractual arrangement as of a certain date or by demand, to be unrelated to original issuance transactions. As such, subsequent registration costs and expenses are reflected in the accompanying consolidated financial statements as general and administrative expenses and are expensed as incurred.

Lease Obligations

All noncancellable leases with an initial term greater than one year are categorized as either capital leases or operating leases. Assets recorded under capital leases are amortized according to the methods employed for property and equipment or over the term of the related lease, if shorter.

Estimates

The accompanying financial statements are prepared on the basis of accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of September 30,2010, and December 31, 2009, and revenues and expenses for the three-month and nine-month periods ended September 30,2010, and 2009, and cumulative from inception. Actual results could differ from those estimates made by management.

(2).	Development Stage Activities and Going Concern

Structural is currently in the development stage, and the business plan of the Company is to establish franchises to market, use, and sell coating products and equipment licensed from EIHC. Initial activities of the Company through September 30, 2010, include organization and incorporation, target market identification, marketing plans, entering into a licensing agreement, a reverse merger with EMC, and other capital formation activities.

While the management of the Company believes that the Company will be successful in its capital formation and operating activities, there can be no assurance that it will be able to raise additional equity capital, or be able to generate sufficient revenues to sustain its operations. The Company also intends to conduct additional capital formation activities through the issuance of its common stock to establish sufficient working capital and to commence operations.

The accompanying financial statements have been prepared in conformity with accounting principals generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has incurred an operating loss since inception and the cash resources of the Company are insufficient to meet its planned business objectives. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

(3).	Master License Agreement

On October 25, 2006, the Company entered into a Master License Agreement (the “License Agreement”) with EIHC, a related party Delaware corporation. EIHC develops, manufacturers, markets, and sells certain products, including spray-on coating materials and equipment. Through the License Agreement, the Company is granted the exclusive right to establish franchises, sell franchise rights, and assign certain rights to franchisees in the contiguous states of the United States of America. The License Agreement expires in the year 2026. The Company has the option to extend the License Agreement for 10 successive three-year periods. The cost of obtaining the License Agreement amounted to $51,923, and is being amortized over a period of 19.6 years. The Company issued 451,193 shares of its common stock (post reverse stock split), valued at $26,923 in exchange for the License Agreement, and incurred $25,000 in legal fees.

(4).	Asset Purchase Agreements

On March 5, 2007, the Company entered into a non-binding Letter of Intent with SABA Contracting, Inc. (“SABA”), an unrelated New York corporation, to purchase certain construction equipment and vehicles (the “SABA Equipment”) for $360,000. Under the terms of the Letter of Intent, the parties agreed that the transaction was to be evidenced by a written Purchase and Sale of Equipment Agreement (the “Asset Purchase Agreement”) which was to be signed at the closing of the transaction. In order to complete the acquisition of the SABA Equipment, the Company obtained a term loan from Central Bank FSB, of Nicholasville, KY in the amount of $400,000 (see Note 6). The Company, in good faith, provided proceeds of $360,000 from the bank loan to SABA before the closing of the transaction which was used to pay off SABA’s equipment-related debt of $60,000 and purchase the SABA Equipment. The Company also advanced an additional $18,200 to SABA in connection with the transaction, and SABA agreed to provide the funds to pay three payments on the Bank Loan totaling $25,519. The parties were not able to evidence the transaction under the terms of the Letter of Intent with an Asset Purchase Agreement, and the transaction was never closed. The Company is seeking to obtain clear title to the SABA Equipment for the purpose of selling the equipment to recover sufficient funds to repay the bank loan. There can be no assurance that the Company will be successful in either obtaining clear title to the SABA Equipment, or selling the SABA Equipment for a sufficient amount to fully repay the bank loan. As of December 31, 2007, the Company wrote off $356,801 related to the transaction which is reflected as other expense in the accompanying statements of operations. As of September 30, 2010, and December 31, 2009, the Company owed $160,890, and $222,012, respectively, on the loan from Central Bank FSG related to the Asset Purchase Agreement.

On March 11, 2010, the Company entered into a Asset Purchase Agreement with Reflectkote, Inc. (“Reflectkote”), dated March 10, 2010, wherein Reflectkote sold certain assets to the Company, and the Company assumed certain liabilities, as well as the obligation to issue 500,000 shares of restricted common stock of the Company (post reverse stock split) to the stockholders of Reflectkote. The former Vice-President and Director of the Company, James W. Zimbler is also a Director of Reflectkote, Inc. The assets purchased include pending patents for a permanently applied reflective coating that does not come off in the manner that reflective tape can. Reflectkote coatings do not corrode and protect the surface applied to as well. Reflectkote is a plastic and glass combination prepared in a proprietary manner. The agreement was closed on May 13, 2010, when 500,000 shares of restricted common stock of the Company (post reverse stock split) were issued to the stockholders of Reflectkote. The value of the transaction was $1,282,694, with $826,694 in liabilities assumed, and common stock issued with a value of $456,000. The Company realized goodwill of $1,277,694, which has been recorded in the accompanying financial statements as of September 30, 2010.

(5).	Related Party Transactions

On April 28, 2008, the Company entered into a promissory note (the “Note”) with EIHC, a stockholder of the Company. Per the terms of the Note, the Company may borrow up to $150,000 from EIHC, at an annual interest rate of 5 percent. An initial repayment of $35,000 under the Note was due on June 28, 2008, but was not paid by the Company. The remaining amount of the Note was to be paid by the Company by April 28, 2009. On April 20, 2009, Structural extended the Note with EIHC to April 30, 2010. On November 14, 2009, EIHC issued a temporary amendment to the Note allowing the limit of the Note to temporarily increase from $150,000 to $158,500. On February 12, 2010, the Company issued 110,000 shares of common stock (post reverse stock split) to EIHC as a principal payment of $55,000 on the Note. On March 4, 2010, the Company issued 107,000 shares of common stock (post reverse stock split) to EIHC as a principal payment of $53,500 on the Note. As of September 30, 2010, and December 31, 2009, $50,000, and $158,500, respectively, had been borrowed from EIHC under the terms of the Note.

On May 20, 2010, the CEO of the Company loaned the Company $35,000 and issued a note to the Company with an annual interest rate of 8 percent. The note has a term of nine months, and the principal and interest of the note are convertible to 100,000 shares of the Company’s common stock (post reverse stock split) at the end of the six-month term.

As of September 30, 2010, and December 31, 2009, the Company owed to stockholders, officers, and Directors of the Company a total of $479,766 and $495,002, respectively, for various working capital loans received. The loans are unsecured, non-interest bearing, and have no terms for repayment.

(6).	Income Taxes

The provision (benefit) for income taxes for the nine months ended September 30,2010, and 2009, were as follows (assuming a 23.7 percent effective tax rate):

	Nine Months Ended
	September 30,
	2010			2009
Federal and state-
Taxable income	$	-		$	-

Total current tax provision	$	-		$	-

Federal and state-
Loss carryforwards	$	498,994		$	81,055
Change in valuation allowance		(498,994	)		(81,055	)

Total deferred tax provision	$	-		$	-

The Company had deferred income tax assets as of September 30, 2010, and December 31, 2009, as follows:

	2010			2009
Loss carryforwards	$	829,784		$	330,790
Less - Valuation allowance		(829,784	)		(330,790	)

Total net deferred tax assets	$	-		$	-

The Company provided a valuation allowance equal to the deferred income tax assets for the three months ended September 30, 2010, and 2009, because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforwards.

As of September 30, 2010, and December 31, 2009, the Company had approximately $3,501,459 and $1,395,736 in tax loss carryforwards that can be utilized in future periods to reduce taxable income, and begin to expire in the year 2028.

(7).	Long-term Debt and Lease

Operating Leases

The Company currently has an operating lease commitment for office space with an unrelated party for the period of 12 months. The operating lease period was from February 1, 2007, through January 31, 2008, at an annual lease obligation of $9,000. In 2008, the Company extended the lease agreement for an additional 12 months.

In January of 2008, the Company entered into an operating lease agreement with an unrelated party for office space in the state of New York. The lease period is from January 15, 2008, through January 14, 2010, at an annual lease obligation of $19,980. The lease agreement also required that the Company place a security deposit of $3,330 with the lessor. The Company terminated the lease agreement at the beginning of January 2009.

Long-term Debt

The Company obtained a bank loan for $400,000 on April 17, 2007, and used $360,000 of the proceeds from the loan to fund the acquisition of the SABA Equipment. The loan has an annual interest rate of 8.5 percent. Collateral for the loan consists of all assets of the Company (including the SABA Equipment), 146,785 shares of common stock of XIOM Corp. (a related party), and personal guarantees from Messrs. Charles Woodward, Andrew Mazzone, and James Zimbler, Directors of the Company, (who also represent entities that are stockholders of the Company).

On April 28, 2008, the Company entered into a promissory note with EIHC, a stockholder of the Company. Per the terms of the Note, the Company may borrow up to $150,000 from EIHC, at an annual interest rate of 5 percent. An initial repayment of $35,000 under the Note was due on June 28, 2008, but was not paid by the Company. The remaining amount of the Note was to be paid by the Company by April 28, 2009. On April 20, 2009, Structural extended the Note with EIHC to April 30, 2010. On November 14, 2009, EIHC issued a temporary amendment to the Note allowing the limit of the Note to temporarily increase from $150,000 to $158,500.

As part of the Asset Purchase Agreement with Reflectkote dated March 10, 2010 (see Note 4), the Company acquired a settlement agreement to pay an unrelated party $400,000 in monthly payments for a period of three years with an annual interest rate of 6 percent. The monthly payments were to have started February 28, 2010; however, as of the filing of these financial statements, no payments have been made on this settlement. Although no payments have been made, the unrelated party is not currently seeking a judgment against the Company for its default on the settlement agreement.

As part of the Asset Purchase Agreement with Reflectkote dated March 10, 2010 (see Note 4), the Company acquired a settlement agreement to pay an unrelated party $270,000 in monthly payments for a period of eighteen month with no interest accrued. The monthly payments were to have started November 15, 2009; however, as of the filing of these financial statements, no payments have been made on this settlement. Although no payments have been made, the unrelated party is not currently seeking judgment against the Company for being in default.

Included below is a summary of the Company’s long-term debt:

	September 30,			December 31,
	2010			2009
Promissory note, due on April 28, 2010, interest at
5.0% per annum; unsecured	$	50,000		$	158,500

Settlement agreement, monthly payments through
April 15, 2011, 0% interest; unsecured		270,000			-

Bank loan, monthly payments through April 17, 2012;
interest at 8.50% per annum; secured		160,890			222,012

Settlement agreement, monthly payments through
January 28, 2013, 6% interest per annum; unsecured		400,000			-

		880,890			380,512

Less - Current portion		(588,738	)		(242,017	)

Long-term portion	$	292,152		$	138,495

Future minimum long-term debt payments required are as follows:

Twelve Months Ending September 30,	Amount

2011		588,738
2012		236,977
2013		55,175
Total	$	880,890

(8).	Common Stock

On June 27, 2004, the Company issued one share of common stock (post reverse stock split) to a Director of the Company valued at a price of $2 per share for cash.

On December 13, 2005, the Company commenced a capital formation activity through a Private Placement Offering (“PPO”), exempt from registration under the Securities Act of 1933, to issue up to 2,160 shares of its common stock (post reverse stock split) at an offering price of $0.50 per share for total proceeds of $1,080. The PPO was closed on May 6, 2006, and proceeds amounted to $1,080. Because the authorized common stock of the Company was insufficient at the time of the completion of the PPO, the stock certificates related thereto were not issued until December 26, 2007.

On December 26, 2007, the Company issued 126,300 shares of common stock (post reverse stock split) to its sole Director and officer for services rendered, at an offering price of $0.01 per share for total value of $1,263.

The Company entered into a one-year Consulting Agreement on December 1, 2007, with Kingsgate Development, Ltd. (a British Virgin Islands Corporation and “Kingsgate”) whereby Kingsgate agreed to assist the Company in becoming publicly traded, by utilizing its skills and by bearing up to $90,000 of registration costs on behalf of the Company. In exchange for its services, Kingsgate was issued 200,000 shares of common stock (post reverse stock split) for a value of $90,000 or $0.45 per share to satisfy this obligation. The Company issued the shares to Kingsgate on December 26, 2007.

On December 1, 2007, the Company entered into a one-year Consulting Agreement with Eastern Glow Investments, Ltd, (a British Virgin Islands Corporation and “Eastern Glow”) whereby Eastern Glow agreed to assist the Company in becoming publicly traded, by utilizing its skills on behalf of the Company as well as a commitment to loan to the Company up to a maximum of $50,000, at the Libor interest rate plus 2.5 percent for the marketing plan of the Company. In exchange for its services, Eastern Glow was issued 112,500 shares of common stock of the Company (post reverse stock split) at $0.44 per share to satisfy this obligation. The Company issued the shares to Eastern Glow on December 26, 2007.

Effective September 16, 2008, the Company entered into a Share Exchange with the stockholders of EMC, whereby the Company acquired all of the issued and outstanding capital stock of EMC (135,050,850 shares) in exchange for 1,350,509 shares of common stock (post reverse stock split) of the Company. As a result of the Share Exchange, the stockholders of EMC controlled the Company, and EMC has been determined to have effected a reverse merger for financial reporting purposes as of the date of the Share Exchange. The reverse merger has been recorded as a recapitalization of the Company, with the net assets of the Company and EMC brought forward at their historical bases. In connection with the issuance of 1,350,509 shares of common stock (post reverse stock split), 6,139 of such shares (post reverse stock split) were issued for professional services valued at $55,000.

On November 25, 2008, the Company declared a 2-for-1 forward stock split of its issued and outstanding common stock to the holders of record on that date. Such forward stock split was effective as of November 25, 2008. The accompanying financial statements and related notes thereto have been adjusted accordingly to reflect this forward stock split.

In February 2009, the Company entered into a verbal agreement with Aires Capital, Inc. whereby Aires Capital, Inc. agreed to perform introductory services related to capital formation activities. On February 5, 2009, the Company issued 15,000 shares of common stock (post reverse stock split) to Aires Capital, Inc. for such services. The services were valued at $50,000.

On March 2, 2009, the Company completed a second Share Exchange Agreement (the “Share Exchange Agreement #2”) between the Company, as Extreme Mobile Coatings Corp, Ltd. and Structural Enhancement Technology Corp. a newly formed Delaware corporation. The Share Exchange Agreement #2 was completed in order to change the domicile of the Company from the United Kingdom to the State of Delaware, the authorized common stock to 500,000,000 shares, par value $0.0001 per share, and the name of the Company from Extreme Mobile Coatings Corp. Ltd. to Extreme Mobile Coatings Worldwide Corp. The Company exchanged 1,791,469 shares of its common stock (post reverse stock split) for a like number of shares of the newly formed Delaware corporation. In addition, the Certificate of Incorporation of Extreme Mobile Coatings Worldwide Corp. became the Certificate of Incorporation of the Company. The Share Exchange Agreement #2 has been treated as a reverse merger. The reverse merger has been recorded as a recapitalization of the Company, with the net assets of Extreme Mobile Coatings Corp. Ltd. and the Company brought forward at their historical bases. The costs associated with the reverse merger have been expensed as incurred.

On March 2, 2009, the Company declared a 5-for-1 forward stock split of its issued and outstanding common stock to the holders of record on that date. Such forward stock split was effective as of March 12, 2009. The accompanying financial statements and related notes thereto have been adjusted accordingly to reflect this forward stock split.

On May 27, 2009, the Company issued 5,500 shares of common stock (post reverse stock split) for consulting services valued at $84,121.

On August 20, 2009, the Company issued 100,625 shares of common stock (post reverse stock split) for professional services valued at $78,000.

On October 9, 2009, the Company issued 137,500 shares of common stock (post reverse stock split) for professional services valued at $75,000.

On November 9, 2009, the Company issued 60,000 shares of common stock (post reverse stock split) for professional services valued at $48,000.

On November 12, 2009, the Company issued 35,000 shares of common stock (post reverse stock split) for consulting services valued at $17,500.

On January 28, 2010, the Company increased the amount of authorized shares of common stock from 500,000,000 shares (post forward stock split) with a par value of $.0001 per share to 1,000,000,000 shares (post forward stock split) with a par value of $.0001 per share.

On January 22, 2010, the Company issued 80,000 shares of common stock (post reverse stock split) for consulting services related to the reverse merger. The services were valued at $40,000.

On January 27, 2010, the Company issued 7,500 shares of common stock (post reverse stock split) to an employee and to an officer of the Company as compensation for services rendered valued at $75,000.

On January 27, 2010, the Company filed an S-8 registration statement in order to register 250,000 shares of the Company’s common stock (post reverse stock split) issuable under the 2010 Employee and Consultant Stock Plan.

On February 1, 2010, the Company issued 89,000 shares of common stock (post reverse stock split) for consulting services valued at $44,500.

On February 1, 2010, the Company issued 50,000 shares of common stock (post reverse stock split) valued at $25,000 to stockholders as payment on debt owed to the stockholders.

On February 1, 2010, the Company issued 40,000 shares of common stock (post reverse stock split) to a Director and officer of the Company as compensation for services rendered valued at $20,000.

On February 12, 2010, the Company issued 110,000 shares of common stock (post reverse stock split) to EIHC as a principal payment of $55,000 on the promissory note owed to EIHC.

On February 25, 2010, the Company issued 15,000 shares of common stock (post reverse stock split) for consulting services valued at $7,500.

On March 4, 2010, the Company issued 107,000 shares of common stock (post reverse stock split) to EIHC as a principal payment of $53,500 on the promissory note owed to EIHC.

On March 11, 2010, a Director of the Company exercised 100,000 options in a cashless transaction, and was issued 72,223 shares of common stock (post reverse stock split) valued at $82,000.

On May 13, 2010, the Company issued 500,000 shares of common stock (post reverse stock split) valued at $456,000 to the stockholders of Reflectkote as required under the Asset Purchase Agreement with Reflectkote (see Note 4).

On May 14, 2010, the Company issued 20,000 shares of common stock (post reverse stock split) for the partial payment of $24,000 on an accounts payable debt.

On May 19, 2010, the Company issued 200,000 shares of common stock (post reverse stock split) for consulting services valued at $100,000.

On May 10, 2010, the Company declared a 1-for-100 reverse stock split of its issued and outstanding common stock to the holders of record on that date. Such reverse stock split was effective as of May 19, 2010. The accompanying financial statements and related notes thereto have been adjusted accordingly to reflect this reverse stock split.

On July 23, 2010, the Company issued 100,000 shares of common stock (post reverse stock split) to a Consultant for services to be rendered. The transaction is valued at $50,000.

On July 27, 2010, the Company issued 53,616 shares of common stock (post reverse stock split) valued at $18,675 for a debt related to a settlement agreement.

On July 27, 2010, the Company issued 750,000 shares of common stock (post reverse stock split) to a Director and to an officer of the Company regarding an employment agreement entered into. The transaction was valued at $75,000.

On July 27, 2010, the Company issued 500,000 shares of common stock (post reverse stock split) to a Director and to an officer of the Company regarding an employment agreement entered into. The transaction was valued at $50,000.

On July 27, 2010, the Company issued 250,000 shares of common stock (post reverse stock split) to a Consultant for services to be rendered. The value of the transaction was $25,000.

On July 27, 2010, the Company issued 250,000 shares of common stock (post reverse stock split) to a Consultant for services rendered. The value of the transaction was $25,000.

Stock Options

On February 8, 2010, the Company granted two members of the Company’s Board of Directors nonqualified stock options to purchase up to 200,000 shares each (400,000 combined shares) of the Company’s common stock, exercisable at a price of $0.50 per share.

On May 10, 2010, the Company granted nonqualified stock options to a Director to purchase up to 300,000 shares of the Company’s common stock, exercisable at a price of $0.50 per share. On the same date, the Company granted nonqualified stock options to the Company’s General Counsel to purchase up to 250,000 shares of the Company’s common stock, exercisable at a price of $0.50 per share.

On July, 27, 2010, the Company granted three members of the Company’s Board of Directors nonqualified stock options to purchase up to 250,000 shares each (750,000 combined shares) of the Company’s common stock, exercisable at a price of $0.20 per share. The Company also granted a consultant as well as the Company’s general counsel nonqualified stock options to purchase up to 250,000 shares each (5000,000 combined shares) of the Company’s common stock, exercisable at a price of $0.20.

The fair value of each option granted has been estimated on the date of grant using the Black-Scholes pricing model, using the following assumptions:

Average Expected Term (Years to Exercise)			2.5

Outstanding - December 31, 2009			-

Granted			2,100,000

Exercised

A summary of the status of the options granted as of September 30, 2010, is as follows:

Expired			-

Outstanding September 30, 2010			2,100,000

A summary of the status of options outstanding as of September 30, 2010, is presented as follows:

	Weighted
	Range of				Weighted		Weighted
	Average				Average		Average
	Exercise		Number		Remaining		Exercise		Number
	Prices		Outstanding		Life (Years)		Price		Exercisable

December 31, 2009	$	-		-		-	$	-		-

September 30, 2010	$	0.32		2,100,000		4.69	$	0.32		2,100,000

(9).	Change in Management

On July 21, 2010, Mr. Charles Woodward resigned effective July 30, 2010, as President of the Company. He remains a member of the Board of Directors. Mr. Woodward’s resignation did not, in any way, imply that there was any dispute or disagreement relating to the Company’s operations, policies, or practices.

On July 21, 2010, Mr. Andrew B. Mazzone was elected to the Board of Directors of the Company as the Interim President and a Director of the Company.

On July 27, 2010, the Company entered into an employment with Mr. Charles Woodward. Mr. Woodward is the President of the Company’s subsidiary, Extreme Mobile Coatings Inc. The term of the employment agreement is for one year and automatically renews for successive one-year terms, unless either party shall provide written notice not to renew, within 60 days prior to the end of any term.

On July 27, 2010, the Company entered into an employment agreement with Mr. James Zimbler. Mr. Zimbler is the Vice President of Business Development for the Company. The term of the employment agreement is for one year and automatically renews for successive one-year terms, unless either party shall provide written notice not to renew, within 60 days prior to the end of any term.

(10).

Commitments and Contingencies

On March 1, 2008, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Mr. Scott R. Hamann, MD, PhD (“Mr. Hamann”). Mr. Hamann agreed to provide services to the Company in connection with introducing the Company to public and healthcare facilities as well as other healthcare providers. In addition, Mr. Hamann will establish and recruit members for a “Scientific Advisory Board” for the Company. The term of the agreement is three years. For the first 12-month period commencing on the effective date, the Company will pay Mr. Hamann 2% of the net revenues received by the Company. In addition, for the second 12-month period from the effective date, the Company will continue to pay 2% of net revenues, and an additional 1% of net revenues from customers introduced to the Company by Mr. Hamann. Regardless of the net revenues generated, the Company will pay Mr. Hamann $250 per hour for consulting services rendered, with a minimum guarantee of four hours per month. According to the Consulting Agreement, the Company could terminate the hourly consulting services at any time. The Company terminated the hourly consulting services of Mr. Hamann after two months of services.

On April 28, 2008, the Company entered into a promissory note (the “Note”) with EIHC, a stockholder of the Company. Per the terms of the Note, the Company may borrow up to $150,000 from EIHC, at an annual interest rate of 5 percent. An initial repayment of $35,000 under the Note was due on June 28, 2008, but was not paid by the Company. The remaining amount of the Note was to be paid by the Company by April 28, 2009. On April 20, 2009, Structural extended the promissory note with EIHC to April 30, 2010. On November 14, 2009, EIHC issued a temporary amendment to the note allowing the limit of the note to temporarily increase from $150,000 to $158,500. As of September 30, 2010, and December 31, 2009, $50,000, and $158,500, respectively, had been borrowed from EIHC under the terms of the Note.

The liabilities acquired by the Company as part of the Asset Purchase Agreement with Reflectkote dated March 10, 2010 included a judgment from the Securities and Exchange Commission (“SEC”). Through communications with the SEC, management has determined that it is probable that the Company will be required to pay a judgment of approximately $50,000. This amount is an estimate made by the Company’s management. The exact amount of payment is contingent upon the approval by the SEC. This estimated amount has been recorded in the accompanying financial statements as of September 30, 2010.

On April 23, 2010, the Company entered into a consulting agreement with an unrelated consultant. The consultant agrees to render services for a period terminating on March 31, 2011 to assist in securing a contract with a contractor working for the State of Florida. On July 13, 2010, the Company issued 100,000 shares of common stock (post reverse stock split) of the Company valued at $50,000.

On July 1, 2010, the Company entered into a consulting agreement with an unrelated consult and. The consultant agrees to assist with financial, accounting and tax matters. The tem of the agreement will terminate on December 31, 2010. On July 13, 2010, the Company issued 250,000 shares of common stock (post reverse stock split) of the Company valued at $25,000.

(11).

Recent Accounting Pronouncements

Effective July 1, 2009, the Company adopted FASB ASC Topic 105-10, “Generally Accepted Accounting Principles – Overall” (“Topic 105-10”). Topic 105-10 establishes the FASB Accounting Standards Codification (the “Codification”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with U.S. GAAP. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. All guidance contained in the Codification carries an equal level of authority. The Codification superseded all existing non-SEC accounting and reporting standards. All other non-grandfathered, non-SEC accounting literature not included in the Codification is non-authoritative. The FASB will not issue new standards in the form of Statements, FASB Staff Positions or Emerging Issues Task Force Abstracts. Instead, it will issue Accounting Standards Updates (“ASU’s”). The FASB will not consider ASU’s as authoritative in their own right. ASU’s will serve only to update the Codification, provide background information about the guidance and provide the bases for conclusions on the change(s) in the Codification. References made to FASB guidance throughout this document have been updated for the Codification.

In January 2010, the FASB issued ASU 2010-06, "Improving Disclosures about Fair Value Measurements.” This update requires additional disclosure within the roll forward of activity for assets and liabilities measured at fair value on a recurring basis, including transfers of assets and liabilities between Level 1 and Level 2 of the fair value hierarchy and the separate presentation of purchases, sales, issuances and settlements of assets and liabilities within Level 3 of the fair value hierarchy. In addition, the update requires enhanced disclosures of the valuation techniques and inputs used in the fair value measurements within Levels 2 and 3. The new disclosure requirements are effective for interim and annual periods beginning after December 15, 2009, except for the disclosure of purchases, sales, issuances and settlements of Level 3 measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010. As ASU 2010-06 only requires enhanced disclosures, the Company does not expect that the adoption of this update will have a material effect on its financial statements.

In February 2010, the FASB issued ASU No. 2010-09, "Amendments to Certain Recognition and Disclosure Requirements,” which eliminates the requirement for SEC filers to disclose the date through which an entity has evaluated subsequent events. ASC No. 2010-09 is effective for its fiscal quarter beginning after December 15, 2010. The adoption of ASC No. 2010-06 will not have a material impact on the Company's financial statements.

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future financial statements.

(12).

Subsequent Events

Common Stock Issued

On October 28, 2010, the Registrant entered into a Debt Conversion Agreement between Michael Margolies and Stanley Chason and the Registrant. The Company is indebted to Michael Margolies and Stanley Chason in the amount of $707,785.00 plus interest, as of October 28, 2010, and which was incurred on or before March 1, 2009, and still due and owing as of the date hereof (the “Debt”). Michael Margolies and Stanley Chason have agreed to convert a portion of the debt into 10,000,000 shares of common stock. The exact amount for which the Debt is reduced depends on the value received from the sale of the shares converted. As of November 19, 2010, 8,400,000 shares of the 10,000,000 shares of common stock had been issued.

In addition, on October 28, 2010, the company issued shares to the following individuals:

Stockholder

Charles Woodward

James W. Zimbler

Andrew B. Mazzone

Cimarron Capital Ltd.

LSS Consulting

Marty Hodas

Michael S. Krome, Esq.

DRB Consulting, Inc.

Number of Shares

2,000,000

1,000,000

750,000

250,000

500,000

Compensation or Consideration

Accrued Salary

Consulting Fees

Legal Fees due

Consulting Fees

Officer Resignation

On November 10, 2010, Mr. James W. Zimbler resigned as Director and Vice President of Structural Enhancement Technologies Corp.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKING STATEMENTS

Because we want to provide investors with more meaningful and useful information, this Amended Quarterly Report on Form 10-Q/A (“Form 10-Q/A”) contains certain forward-looking statements that reflect our current expectations regarding our future results of operations, performance, and achievements. We have tried, wherever possible, to identify these forward-looking statements by using words such as “anticipates,” “believes,” “estimates,” “expects,” “designs,” “plans,” “intends,” “looks,” “may,” and similar expressions. These statements reflect our current beliefs and are based on information currently available to us. Accordingly, these statements are subject to certain risks, uncertainties and contingencies, including the factors set forth herein, which could cause our actual results, performance or achievements in future periods to differ materially from those expressed in, or implied by, any of these statements. You should not place undue reliance on any forward-looking statements. Except as otherwise required by federal securities laws, we undertake no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this Report or to reflect the occurrence of unanticipated events.

About our Company

How our Company is organized.

Structural Enhancement Technologies Corp. formerly known as Extreme Mobile Coatings Worldwide Corp. (the “Company”), was incorporated on July 28, 2004, in the United Kingdom under the name T&T Homes Limited. On November 29, 2004, the name of the corporation was amended to Falcon Media Services, Ltd. On December 3, 2007, the Company amended its Certificate of Incorporation to increase the authorized capital to 500,000,000 shares of common stock, par value of $0.001 per share. On September 16, 2008, the Company and the stockholders of Extreme Mobile Coatings, Inc., a Delaware corporation (“Extreme”), entered into a Share Exchange Agreement (the “Agreement”) pursuant to which the stockholders of Extreme exchanged all of the outstanding shares of Extreme common stock for an aggregate of 13,505,085 ordinary shares of the Company (the “Share Exchange”). As a result of the Share Exchange, Extreme became a wholly owned subsidiary of the Company. On November 12, 2008, the Company amended its Certificate of Incorporation to change the name of the Company to “EXTREME MOBILE COATINGS COMPANY, LTD.”

On April 8, 2009, Extreme Mobile Coatings Company, Ltd. completed corporate actions to re-domicile the Company to Delaware from London, United Kingdom. As a result of this re-domicile, the name of the Company was changed to Extreme Mobile Coatings Worldwide Corp. In addition, the Company’s Board of Directors approved a five (5) for one (1) forward split of its common stock. The Company trades under the new symbol “EMWW” on the Over the Counter Bulletin Board on a split-adjusted basis.

On June 18, 2010, the Company completed the corporate actions of amending its name to Structural Enhancement Technologies Corp. and effected a reverse split of its common of One Hundred old (100) shares to one (1) new share of common stock.

Our Business

The Company was formed to provide quality sports and event related content and services to the Middle Eastern markets across the mobile phone network, and receive revenues through joint ventures and other licensing arrangements. Upon completion of the Share Exchange, the Company abandoned its original business plan. The Company is continuing the business of Extreme as its sole line of business.

Where You Can Find Us

The Company’s corporate offices are located at

40 Marcus Avenue

Hauppauge, NY 11788

Phone number: (631) 560-4108

Our web site is www.extrememobilecoating.com.

Description of Extreme Mobile Coatings, Inc.

BUSINESS

General

The Company conducts its operations through its wholly owned subsidiary, Extreme Mobile Coatings, Inc., a successor of A&C Coatings, LLC, which was formed in February 2007 to offer franchise opportunities to operate a mobile business which provides painting or coating on various surfaces utilizing a special patented mobile system developed by Environmental Infrastructure Holdings Corp. f/k/a Xiom Corp. and licensed to Extreme, and others. Xiom Corp. is now a wholly owned subsidiary of Environmental Infrastructure Holdings Corp.

The Company believes that there is a latent need for on-site delivery of antimicrobial powder coatings; an antimicrobial coating to protect surfaces which come in continuous contact with the general public, such protection to be long lasting, and such protection to be cost effective. There is a public perception that protection against microbes of all sorts is a good thing in and of itself. Uncontrollable spread of difficult to contain germs becomes ever more intrusive into the consciousness of the American public.

To enable this opportunity, two technologies had to come together to make it happen in public places. The first technology is that to be able to apply powder coatings outside of a factory setting and without the use of a factory oven. The second technology would be the melding of a potent antimicrobial agent with a polymer plastic coating which would protect the surfaces, be invisible but yet durable, not change the look of a surface, abrade away at a controlled rate, but still offer an antimicrobial protection until the end of the abrasion.

The Company has developed a spray mechanism to deposit such a coating. The company’s President has a long history of developing such equipment in other situations and environments. The Company also has developed a patented material combining the most potent antimicrobial agent with powder coating to enable effective on-site delivery and protection. The Company is ready to implement its plan. The first part of the plan is to engage a large franchisor of fast food locations to the public to sign on to the concept, and allow us to do a number of pilot locations with our mobile truck set up and two man teams to apply these coatings. The concept will consist not only not only of applying the coatings, but also conducting a bi-weekly testing and sampling of the germ killing capability of this applied coating. The testing will consist of such samples swabs from various coated surfaces sent to the company’s independent lab for testing and analysis. The certification and documentation will be posted in each store location giving a comfort level to patrons of that location that the store management is vigorously supporting a strong productive attack against various disease causing microbes on surfaces that they touch. Of course, the ultimate question would be for non-users of the company’s services (patrons in non-antimicrobial protected stores) is why aren’t these stores doing the same as the protected stores are doing to protect us?

Anti-Microbials are designed for use in hospitals, in health care, and in food processing and manufacturing industries on:

•	Medical equipment and furniture

•	Showers and toilet facilities

•	Duct work and vents

•	Conveyor systems

•	Restaurants

•

Schools

•	Laboratories

•

Hospitals

•	Transport and storage

•	Food processing and packaging

•	Coating components in contact with potable water

The history of applying organic polymer coatings dates back to the early 1950’s, starting with the fluidized bed process progressing to the Electrostatic Powder Spray Process (EPS). Today EPS is the standard for applying organic polymer coatings. It is commonly referred to as “Powder Coating,” which to those individuals familiar with the process define the EPS process as: applying plastic powder coating, followed by oven curing at approximately 400 degrees F where melting and film formation occurs.

Today EPS is a huge polymer coatings business in the form of thermoplastic and thermoset chemistries, which can be applied to a variety of substrates. They can be applied to cold surfaces before curing to film thicknesses typically between 1-4 mils (50-200 microns). There are little or no VOC’s (Volatile Organic Compounds) and reduced HAP (Hazardous Air Pollutants). For these reasons, EPS process has captured substantial business from the established liquid coating process (Painting).

EPS applied plastic coatings are further characterized by their wide use in Original Equipment Manufacturer (OEM) and production applications for decorative purposes where appearance and durability are required. While there is some use of functional EPS coatings, the vast majority of usage is for decorative applications. Large numbers of relatively small components can best take advantage of the economic benefits gained by using the EPS powder process, but must conform to the limits of batch processing, oven size restrictions and substrate materials.

Flame spraying thermoplastic powders, now called “Thermal Spraying,” have been used for some time. These powders were marketed for on-site processing to apply thick polymer coatings. To date, there has been little market impact. Two reasons can be cited for the lack of success of Thermal Spraying Polymers in the past.

First reason being; Thermal Spray equipment used was designed primarily for spraying high melting point metal powders and was then adjusted to accommodate polymer powders. These adjustments did not adequately prevent polymer powders from overheating and burning. Thus, coatings did not always achieve their intended physical and chemical functions.

Secondly, plastic powders sprayed were the same as those used for the EPS process. No effort was made to modify powder particle size distribution to satisfy requirements of Thermal Spraying. Also, there was no effort made to design new polymer coating formulations required for on-site Thermal Spraying. Coating adhesion, function, and decorative value suffered because innovation lagged behind the industry’s need for product modifications.

The Benefits of Powder Coating

What is Powder Coating?

Powder coating is an advanced method of applying a decorative and protective finish to a wide range of materials and products that are used by both industries and consumers. The powder used for the process is a mixture of finely ground particles of pigment and resin, which is sprayed onto a surface to be coated. The charged powder particles adhere to the electrically grounded surfaces until heated and fused into a smooth coating in a curing oven. The result is a uniform, durable, high-quality, and attractive finish. Powder coating is the fastest-growing finishing technology in North America, representing over 10% of all industrial finishing applications.

Thousand of products and parts are currently powder coated:

Appliances

The appliance industry benefits from powder coating on front and side panels of ranges and refrigerators, washer tops and lids, dryer drums, air-conditioner cabinets, water heaters, dishwasher racks, and cavities of microwave ovens. Powder coating has also replaced porcelain enamel on many washer and dryer parts.

Automotive

The automotive industry uses powder coating on wheels, bumpers, hubcaps, door handles, decorative trim and accent parts, truck beds, radiators, filters, and numerous engine parts. A clean powder topcoat has been developed to protect auto bodies. BMW and Volvo are using it on their new model cars, and GM, Ford, and Chrysler have formed a consortium to test this technique on their production lines.

Architecture/Building

Nowhere else are the benefits of architectural powder coating more evident than on the thousands of commercial, industrial, government, residential, historic and institutional buildings from around the world. For 30 years, powder coating has been the finish of choice for a superior, more colorful, longer lasting, and more durable finish. Click here for a list of possible applications. Powder coating is specified because of its durability, scratch resistance, gloss retention, weatherability, resistance to chalking, the unlimited range of colors, finishes, glosses and textures, the fact that it meets AAMA specifications and because it is an environmentally friendly finishing process, making it an important part of a sustainable or green building project that incorporates low-emitting products. Virtually any part and any product in your next project might lend itself to powder coating including metal, aluminum, composites, wood, plastic, glass, and ceramic. Powder coating is superior to liquid paint, anodizing, and PVDF.

Everyday Products

There are also innumerable everyday uses for powder-coated products such as lighting fixtures, antennas, and electrical components. Farmers have powder coated tractors and farm equipment. Fitness buffs use golf clubs and golf carts, ski poles and bindings, snowmobiles, bicycles, and exercise equipment that are powder coated. Shop owners have powder coated display racks, shelves, store fixtures, and vending machines. Office workers use metal furniture, computer cabinets, mechanical pencils and pens, thumbtacks, and other desk accessories that are powder coated. Parents have powder coated baby strollers, cribs, metal toys, and wagons. In addition, homeowners have lawn mowers, snow blowers, barbecue grills, patio furniture, garden tools, electronic components, bathroom scales, toolboxes, and fire extinguishers that benefit from a powder coated finish.

Non-Metal Products

While powder coating started as an alternative to finishing metal products only, the development of powder that can be cured at lower temperatures has allowed powder coating to expand to non-metal surfaces such as ceramics and some wood and plastic applications. Powder coating on wood is growing rapidly. Manufacturers of home-office furniture, kitchen cabinets, children’s furniture, and outdoor grill tables are discovering that powder coating makes these “hard use” products retain their new look much longer.

More Durable

Powder coating gives consumers, businesses, and industry one of the most economical, longest-lasting, and most color-durable quality finishes available.

Powder coated surfaces are more resistant to chipping, scratching, fading, and wearing than other finishes. Color selection is virtually unlimited with high and low gloss metallic and clear finishes available. In addition, colors stay bright and vibrant longer. Texture selections range from smooth surfaces to a wrinkled or matte finish, and rough textures designed for hiding surface imperfections.

Powder Coating Demand	% Annual Growth
Item	1990	2000	2005	2010	00/90	05/00

Industrial Mach. And materials (million lbs)	19	48	73	111	9.7	8.7

Other Markets (million lbs)	37	99	151	230	10.3	8.8

$/lb:	2.39	2.94	3.19	3.44	2.1	1.6

Powder coating (million $)	335	1016	1610	2530	11.7	9.6

*Source: The Freedonia Group

Protects the Environment

Powder coating is also highly protective of our environment. While liquid finishes contain solvents that have pollutants known as volatile organic compounds (VOCs), powder coating contains no solvents and releases negligible amounts, if any, of VOCs into the atmosphere. Thus, there is no longer a need for finishers to buy costly pollution control equipment. In addition, most powder coating overspray that does not adhere to the part ca be retrieved and reused, virtually eliminating the waste commonly found in liquid finishing processes.

Saves Money

Elimination of VOCs and reduction of wastes saves money and helps companies comply more easily and economically with the regulations of the U.S. Environmental Protection Agency. In fact, one of the major elements in expanding the market for powder coating has been the implementation over the past 30 years of stringent air pollution control legislation.

Coating powders consist of solid resin, pigments, and additives which are compounded together to form a coating powder.

There are three main categories of coating powder:

Thermoset coatings: These are coatings which do not re-melt upon heating; during the curing process irreversible crosslinking reactions occur which give these coatings many of their desirable properties. Typically, particle sizes for these powders are 30-50um.

Thermoplastic coatings: These materials will re-melt heating. Typically, particle size for these powders is around 100um. Some powders (especially some thermoplastic powders) have mostly large particles and have no potential to emit particulate matter to the air. Powders with more than 95% by weight above 75um may justify exemption from LAPC/LAPPC.

Thermoplastic toners: Typically these particles are in the size range 5-20um.

Powder coatings are made by mixing the basic polymer with charge agents and other additives and then heating until they form a melt. This liquid is then extruded into chips or pellets that are fed into a grinder (most commonly an air classifier) to give a first cut of the product. The powder then passes through a single or double cyclone separator in which the very fine particles are removed. The coarse product is removed from the bottom of the cyclone and bagged directly. The fines are collected separately to be recycled. In many cases, the grinding is done in batch runs, with the powder coating manufacturer switching frequently between a variety of coating products.

Color is added to powder coatings during the manufacturing process, i.e. before the powder reaches the powder coater. There is little that can be done to change the color consistently, once the powder leaves the manufacturing plant.

In powder coating, the powdered paint is applied by either lowering the part into a fluidized bed of powder, which may or may not be electrostatically charged, or spraying with electrostatically charged powder. In both cases, the part is then placed in an oven, where the powder particles melt, coalesce, and bond to the metallic surface forming a continuous film. Powder coatings give a clean finish to goods and are hard wearing and corrosion resistant.

Of primary concern to the end-user is consistent finish and color. The critical factors which determine how well the surface will be coated are the chemistry of the powder coating, the powder and metallic surface charges, the heat applied and the particle size of the product. Obviously to ensure a uniform coating, particle size must also be uniform. Different grades of finish can be made by applying various grades of coarseness of powder.

Powder coatings can be applied over a wide range of thickness. The new Australian Standard, “AS/NZS 4506 – Thermoset powder coatings,” will recommend 25-micron minimum for mild interior applications and up to 60-micron minimum for exterior applications. Care must be exercised when quoting minimum thickness because some powder will not give “coverage” below 60 or even 80 micron. “Coverage” is the micron to give full “coverage.” One of the orange colors must be applied at 80 micron.

A key part of the coating process is surface preparation. The vast majority of powder coating failures can be traced to a lack of a suitable preparation. The required preparation treatment is different for different materials. For aluminum surfaces, preparation typically involves the removal of oils and greases with an alkali or neutral detergent solution, etching to remove heavy oxides, and chromate or phosphate dipping to form a conversion coating. This conversion coating has two functions in that it presents a surface to the powder which favors adhesion and it reduces the incidence of under film corrosion.

A final rinse in demineralized water completes the preparation process. For steel, the preparation method also typically includes a grain-refining step, which ensures that the conversion coating produced is relatively fine with good adhesion properties.

•	Particle size distribution is critical for powder coatings, affecting:

•	Final coating smoothness and appearance

•	Coating thickness

•	Product handling properties

•	Powder performance during application

•	Safety and environmental risk

For these reasons powder coating manufacturers need particle size distribution data for quality control, product development and process optimization purposes. As product consistency is such a big issue for the industry it is important that the data produced is both reliable and reproducible.

In addition, Extreme operates a mobile coating business in and around Nicholasville, Kentucky.

The Xiom coatings include coatings that:

	reduce or mitigate microbe levels on various surfaces;
	contain anti-foul polymers that reduce the accumulation of barnacles and other materials on marine vessels;
	glow in the dark;
	prevent or reduce slipping;
	prevent graffiti from adhering to a surface; and
	coat any surface with a chosen color.

Potential customers include hospitals, physician offices, schools, day care centers, marinas and other businesses and individuals.

The XIOM Technology

Materials used with the XIOM System are produced from various formulas of plastic powders. The powder mixture is melted and projected onto a substrate via a mixture of air and flammable gases that produce the actual coating. The air, flammable gases, and powder mixture are brought together through a specialized and patented gun with a flame nozzle where the powder material is melted and sprayed forward onto the surface to be coated. The gases and heated coating are cooled by the surface to which it adheres.

Powder coating currently is a process in which metal parts are brought into a factory environment where they are cleaned and prepared to receive a powder coating. Plastic in powder form is then applied to the various metal parts by means of an electrostatic charge that causes the powder to adhere to the surface. The coated part is then heated in an oven for a period of time to cause the plastic to melt and adhere to the substrate. The XIOM process operates differently. Although the XIOM system uses plastic powder, the powder is not electrostatically charged in order for it to adhere to a substrate. The XIOM system uses a different mechanism that simultaneously applies and fuses the powder to a substrate. The advantages of this process are that the coating process is totally portable and can be applied anywhere, not necessarily in a factory setting, can be applied without the use of an oven to cure the coating, and can be applied to most substrates in addition to the metal substrate to which powder coatings are traditionally applied to in a factory, using an oven.

The XIOM plastic spray technology is unique and has patents pending. The patents cover technology and processes to apply and deliver powder coatings through a specialized spray system that allows those coatings to be applied both on site and in a factory. The patents will last, upon issuance, for a period of 20 years, unless other patents are applied for. With the XIOM process, the on-site plastic powder coating process, coatings can be deposited on wood, steel, fiberglass, concrete and plastic – a variety of substrates not all available to traditional powder coating. The XIOM process is quick, does not use an expensive oven for curing, and can be used both outside and inside a building.

The technology associated with the XIOM system was developed personally by two officers of XIOM. This technology was developed and enhanced over time with funding from contacts with the New York State Energy Research & Development Authority (“NYSERDA”). The refinements made to the technology pursuant to these contracts have resulted in the XIOM 1000 Thermal Spray system that is currently marketed for commercial sale.

History of the Technology

The history of applying polymer coatings dates back to the early 1950’s starting with the fluidized bed process and then in the 1960’s to the Electrostatic Powder Sprayer (“EPS”). Today EPS is the standard for applying organized polymer coatings. It is commonly referred to as “Powder Coating” which to those familiar with this process means EPS applied plastic powder coatings followed by oven curing at approximately 400 F, where melting and film formation takes place.

EPS is a large business today as polymer coatings, thermoplastic and thermoses are applied to a variety of substrates. They can be applied to cold surfaces before being cured to film thickness typically between 1 to 4 mils (50-200 microns). There are little Volatile Organic Compounds (“VOC”) and reduced Hazardous Air Pollutants (“HAP”). For these reasons, EPS has captured substantial business from the established liquid coating processes known as traditional painting.

The XIOM products contain no VOCs. There is a current trend by the EPA to ban VOCs from products sold to the public for safety and health purposes, but there is no guarantee that XIOM’s VOC-less products, although safer, will prove to be any more functionally effective than those alternative coating products such as paints that do have VOCs.

The traditional powder coating industry, directly competitive to the XIOM products, usually requires a large investment in ovens and production lines, sophisticated preparation and cleaning equipment, and in many cases operates with sophisticated in-line computerized production control systems to manage the powder coating process. The XIOM system is designed to do powder coating outside a traditional factory setting. The system enables a plastic coating to be directly sprayed onto a surface, contains no preparation equipment, and requires no oven with which to cure powder coatings. The XIOM system has no computerized control whatsoever and, in fact, does not even use electricity but relies on air, propane, and oxygen to achieve a coating result.

Traditional powder coaters who do coating inside a factory environment could possibly try to re-engineer their systems to compete directly with the XIOM systems. It would require them to manufacture smaller, more portable ovens as well as develop more portable production and control systems in order to compete with the XIOM systems on-site coating capability. In the event that enough traditional powder coaters alter their existing operations and create portable systems and ovens that could be mounted on mobile units equipped with power systems for operation, Extreme’s ability to sell mobile coating franchises could be compromised.

Unlike most painting systems, XIOM’s coatings have no dripping and overspray problems and absolutely no VOCs. XIOM materials cure instantly after being applied and no curing ovens are needed.

Due to the fact that the entire XIOM system weighs just 70 pounds, the system can be easily used onsite.

XIOM coatings can be applied at thicknesses from three mils up to 1 inch as compared to traditional powder coatings, which usually vary from one to four mils thick. XIOM has asserted that thicker coatings generally give greater protection against corrosion than thin coatings, although it does not have definitive data to conclusively prove this assertion.

EPS applied plastic coatings are further characterized by their wide use in OEM and production applications for decorative purposes where appearance and durability are required. While there is some use of functional EPS coatings, by and large the vast majority of use is for decorative applications. Large numbers of relatively small components can best take advantage of the economic benefits from EPS powder processing thus conforming to the limits of batch processing and over size restrictions.

The XIOM Thermal Spray Technology

The XIOM powder spray process uses the rich history of EPS Powder Coatings but takes the technology a step further to meet the field requirements of on-site liquid painting, thus bridging the gap between “in house” EPS and “on-site” liquid painting developing a true portable on-site polymer coating system.

Two major advances account for XIOM’s coating technology:

First, the XIOM 1000 Therman Spray system is currently XIOM’s only equipment product for on-site portability. It permits spraying of relatively low melting point polymer powder without over heating and generation of combustion with no VOCs. High deposit rate and efficiency further characterize the XIOM 1000 system.

Second, XIOM plastic powders are designed specifically for Thermal Spraying. New materials technology utilizing multiplex combinations, blends, additives and composites, thus taking advantage of synergy and covalent bonding to produce exceptionally high adhesion to most substrates and functional properties heretofore not possible with polymers (plastic coatings). For instance, EIHC claims that it is the first to produce thermal sprayed polymer/zinc primer coats, which deliver very high quantities of zinc to the substrate for corrosion control. These polymer/zinc primer coatings not only bond securely to steel substrate, but they facilitate bonding of sprayed top coatings as well.

EIHC maintains that many XIOM powders are unique and therefore patentable, with patents pending. Substrates such as wood, plastic, masonry and fiberglass – not processable via EPS – are now readily sprayable with the XIOM 1000 system, along with steel, aluminum and non-ferrous substrates.

The new powder coatings properties produced with the XIOM 1000 system are manifested in the wide variety of applications both functional and decorative now solvable.

EIHC currently has approximately 20 varied material formulations to create spray coatings. The coating functionality includes any-corrosions: wear resistance, architectural, anti-foul, anti-microbial, anti-graffiti, glow-in-the-dark and grip and release. EIHC’s materials come in over 100 different colors. EIHC can mix ceramics and metals, if desired, for added wear, into its plastic coatings and can add anti-microbial formulations into the coatings. The system sprays eight pounds of plastic material an hour using different spray nozzles, allowing for both round patterns and up to a 9-inch fan spray pattern. The system is electrically controlled. The fuel system uses oxygen and propane with air as a cooling gas. Preparation of surfaces is the same as for painting. Since these are plastic coatings, all solids with no hollows and voids, they will last longer than paint-based coating systems and can be applied thick or thin.

The EIHC License

Extreme has entered into a Master License Agreement with EIHC pursuant to which Extreme has been granted an exclusive license in the contiguous states of the United States to establish franchises to market, use and sell EIHC’s coating products and equipment. The license expires in October 2026, subject to Extreme’s right to extend the license for ten successive three (3) year periods by providing EIHC written notice of the election to extend at least six months prior to the expiration of the then current term. Each party has the right to terminate the license agreement in the event of a breach by the other party which is not cured within 30 days of the receipt of written notice of the breach, including in the case of a termination by EIHC, Extreme’s failure to establish ten franchises by December 31, 2009, and at least 10 franchises each year thereafter.

Extreme issued to EIHC an equity interest in Extreme in consideration of entering the license agreement. EIHC has agreed to sell XIOM products to Extreme’s franchisees; provided however, that neither Extreme nor its franchisees will be permitted to apply XIOM anti-microbial and/or anti-fouling coatings original equipment manufacturers, the U.S. government and its branches and agencies or certain “captive ships” for which applications are performed by EIHC employees.

Limited Operating History

The Company cannot guarantee Extreme will be successful in its business operations. The Company is in the development stage, and its business is subject to the risks inherent in the establishment of a new business enterprise, including limited capital resources and the ability to find and finance suitable acquisition candidates. The Company is seeking equity and debt financing to provide the capital required to fund additional proposed acquisitions and its ongoing operations.

The Company can give no assurance that future financing will be available to the Company on acceptable terms. If financing is not available on satisfactory terms, the Company may be unable to continue, develop, or expand the Extreme operations and may possibly cease operations totally. Equity financing could result in additional dilution to the Company’s shareholders.

Employees

As of August 23, 2010, the Company had no employees except for one individual employed by Extreme. The Company believes that its relationship with the employee of Extreme is satisfactory. Neither the Company nor Extreme has suffered any labor problems since inception.

Significant Events

Expiration of Letter of Intent with Cloudtech

On May 27, 2009, we entered into a Letter of Intent to acquire 100% of the issued and outstanding shares of Cloudtech Sensors, Inc. (“Cloudtech”), an early-stage developer of handheld detectors that can discover and identify hundreds of biological, chemical, environmental, and radioactive agents, then wirelessly relay crucial data to command-and-control centers for instant analysis and response. This Letter of Intent has expired and was not renewed by Extreme.

Acquisition of Assets of Relfectkote, Inc.

On March 11, 2010, Extreme Mobile Coatings Worldwide Corp. (the “Company”), entered into a Asset Purchase Agreement with Reflectkote, Inc., dated March 10, 2010, wherein Reflectkote, Inc, sold certain assets and liabilities to the Company, as set forth on the schedules to the Agreement, and whereby the Company assumed the Liabilities as set forth, as well as the obligation to issue 500,000 shares of common stock (post reverse stock split) of the Company to the shareholders of Reflectkote, Inc., after the effectiveness of a Registration Statement on Form S-4. Reflectkote, Inc. set a record date of April 15, 2010 for the transaction.

The former Vice-President and Director of the Company, James W. Zimbler is also a Director of Reflectkote, Inc.

The assets purchased include a permanently applied reflective coating that does not come off in the manner that reflective tape can and does. Reflectkote coatings do not corrode and protect the surface applied to as well. Reflectkote is a plastic and glass combination prepared in a proprietary manner. The application can be done on site with various equipment manufactured by various vendors.

Clean Marine Letter of Intent

On March 12, 2010, the Registrant entered into a Letter of Intent, dated March 3, 2010, with Clean Marine, Inc. whereby the Registrant shall purchase 100% of the issued and outstanding common stock of Clean Marine, Inc., and its operating business known as Clean Air Today. The Letter if Intent has been terminated by Structural Enhancement Technologies Corp.

Results of Operations for the three months ended September 30, 2010, and September 30, 2009

We had nominal revenues of $12,926 and $6,451 for the three months ended September 30, 2010, and 2009, respectively. Total general and administrative expenses were $354,855 for the three months ended September 30, 2010, compared to $166,609 during the three months ended September 30, 2009. The increase was primarily due to $269,125 of stock-based compensation expense related to the issuance of stock options during the period. Professional fees paid by the issuance of common stock also amounted to $275,000. We incurred a net loss of $631,235 for the three months ended September 30, 2010, compared to a net loss of $197,134 for the three months ended September 30, 2009. The increase in the net loss was primarily related to the reasons explained above.

Results of Operation for the nine months ended September 30, 2010, and September 30, 2009

For the nine months ended September 30, we had nominal revenues of $25,383, compared to revenues of $15,896 for the same period in 2009. Total general and administrative expenses were $1,534,200 for the nine months ended September 30, compared to $193,718 for the nine months ended September 30, 2009. The increase in expenses of $1,340,482 resulted primarily from $1,226,625 in stock-based compensation expense related to the issuance of stock options during the period. Professional fees paid by the issuance of common stock also amounted to $562,000. We incurred a net loss of $2,105,459 for the nine months ended September 30, compared to a net loss of $342,003 for the nine months ended September 30, 2009. The increase in the net loss was primarily related to the reasons explained above. Our operating results in future periods are expected to differ materially if we are successful in raising the capital necessary to pursue our business plan.

Liquidity and Capital Resources

We had a cash overdraft of $9,151 as of September 30, 2010, and will rely on the business acquired in connection with the acquisition of Extreme to support future operations. Further, as of September 30, 2010, we had negative working capital in the amount of $(1,669,065).

We have funded our operations to date through loans and equity contributions made by our founders and will require additional funds to continue with our business plan. Our need for funds will increase as we increase the scope of our development and marketing activities in Kentucky, Illinois, New York and California, and potentially into other markets.

In March 2007, we obtained a term loan from Central Bank FSB to finance the purchase of certain construction equipment, which we intended to use in a business unrelated to our mobile coating business. We are seeking to obtain clear title to the equipment for the purpose of selling the equipment to recover sufficient funds to repay the bank loan. As of September 30, 2010, $160,890 was outstanding under the loan, which is secured by all of the assets of Extreme, including the equipment that was the subject of the transaction, as well as 146,705 shares of EIHC common stock. No assurance can be given that we will be successful in obtaining clear title to the equipment or selling the equipment for a sufficient amount to fully repay the bank loan.

We plan to finance our capital needs primarily through the proceeds from the sale of debt and/or equity securities. In addition, in April 2010, Structural amended a promissory note previously issued to EIHC Corp. in April 2008. Pursuant to which Extreme may borrow up to $150,000 from EIHC. As of September 30, 2010, $50,000 was due under the note.

Our working capital and capital requirements will depend on several factors, including the level of resources that we devote to the development and marketing of our franchise opportunities and services.

Our financial statements are prepared on a going concern basis, which assumes that we will realize our assets and discharge our liabilities in the normal course of business. As of September 30, 2010, we had an accumulated deficit during the development stage of $3,922,812, and total liabilities of $2,019,156. Our cash resources were insufficient to allow us to carry out our business plan. These and other factors raise considerable doubt as to our ability to continue our normal business operations as a going concern. A failure to raise additional capital will have a material adverse effect on our business and prospects, and we will not be able to continue operating.

Off-Balance Sheet Arrangements

We are not a party to any off-balance sheet arrangements, and we doe not engage in trading activities involving non-exchange traded contracts. In addition, we doe not have any financial guarantees, debt or lease agreements or other arrangements that could trigger a requirement for an early payment or that could change the value of ours assets.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

As a smaller reporting company, we are not required to provide the information required by this item.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Under the supervision and with the participation of management, including our Chief Executive Officer and our Chief Financial Officer, we have evaluated the effectiveness of the design and operation of our disclosure controls and procedures. Disclosure controls and procedures are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 (“Exchange Act”) is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Amended Quarterly Report.

Changes in Internal Controls over Financial Reporting

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, performed an evaluation as to whether any change in the internal controls over financial reporting (as defined in Rules 13a-15 and 15d-15 under the Exchange Act occurred during the period covered by this report. Based on that evaluation, management and the chief executive officer/chief financial officer concluded that no change occurred in the internal controls over financial reporting during the period covered by this report that materially affected, or is reasonably likely to materially affect, the internal controls over financial reporting.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements and even when determined to be effective, can only provide reasonable assurance with respect to financial statement preparation and presentation. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

The liabilities that we acquired as part of the Asset Purchase Agreement with Reflectkote dated March 10, 2010 included a judgment from the SEC. Through communications with the SEC, we have determined that it is probable that we will be required to pay a judgment of approximately $50,000. This amount is an estimate made by us as of September 30, 2010. The exact amount of payment is contingent upon the approval of the SEC. This estimated amount has been recorded in the financial statements and related notes as of September 30, 2010, appearing elsewhere in this Amended Quarterly Report.

ITEM 1A. RISK FACTORS

There have been no material changes to the risk factors disclosed in our Report on Form 10-K for the year ended December 31, 2009.

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

On May 10, 2010, a Majority of Shares entitled to vote, and the Board of Directors of the Company, approved an Amendment to the Certificate of Incorporation of the Company. The approval was to amend the name of the Company to Structural Enhancement Technologies Corp. and to effect a reverse split of its common stock at a ratio of ONE HUNDRED (100) to One (1). Therefore, as of September 30, 2010, as a result of the reverse stock split, there were a total of 6,639,472 shares of common stock issued and outstanding.

The Company filed with the Secretary of the State of Delaware on or about May 19, 2010, to amend Article FIRST of its Certificate of Incorporation to amend the name of the Corporation to “STRUCTURAL ENHANCEMENT TECHNOLOGIES CORP.” and to include the details of the reverse stock split in Article FOURTH of its Certificate of Incorporation.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

Index to Exhibits

Exhibit		Description of Exhibit
2.1 (1)		Share Exchange Agreement among the Registrant, Extreme Mobile Coatings, Inc. and the stockholders of Extreme Mobile Coatings, Inc.
3.1 (4)		Certificate of Incorporation of the Registrant, as amended
3.2 (4)		Bylaws of the Registrant, as amended
10.1 (1)		Master License Agreement between Xiom Corp. and Extreme Mobile Coatings, Inc.
10.2 (1)		First Amendment to Master License Agreement between Xiom Corp. and Extreme Mobile Coatings, Inc.
10.3 (1)		Consulting Agreement dated as of March 1, 2008 between Extreme Mobile Coatings, Inc. and Scott R. Hamann, M.D.
31.1 (5)		Certification of Principal Executive Officer Pursuant to Exchange Act Rule 13A-14(A)/15D-14(A) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2 (5)		Certification of Principal Financial Officer Pursuant to Exchange Act Rule 13A-14(A)/15D-14(A) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 (5)		Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2 (5)		Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

_________

(1)	Incorporated by reference to similarly numbered exhibit to the Form 8-K filed by the Registrant with the Securities and Exchange Commission on September 17, 2008.

(2)	Incorporated by reference to similarly numbered exhibit to the Form SB-2 filed by the Registrant with the Securities and Exchange Commission on January 2, 2008.

(3)	Incorporated by reference to similarly numbered exhibit to the Form 8-K filed by the Registrant with the Securities and Exchange Commission on September 18, 2008.

(4)	Incorporated by reference to similarly numbered exhibit to the Form 10-K filed by the Registrant with the Securities and Exchange Commission on May 19, 2010.

(5)	Attached hereto

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on behalf of the undersigned thereunto duly authorized on August 23, 2010.

	Structural Enhancement Technologies Corp.

Date: August 15, 2011	By:	/s/ Andrew B. Mazzone
		Andrew B. Mazzone, President

Date: August 15, 2011	By:	/s/ Michael Wade
		Michael Wade, Chief Financial Officer

Structural Enhancement Technologies Corp 10-Q/A