EGPI FIRECREEK, INC. - Quarter Report: 2010 September (Form 10-Q)

Unassociated Document

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

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

For the quarterly period ended September 30, 2010

¨ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ____________ to____________

Commission File No. 000-32507

EGPI FIRECREEK, INC.

(Exact name of Registrant as specified in its charter)

Nevada	88-0345961
(State or Other Jurisdiction of Incorporation or organization)	(I.R.S. Employer Identification No.)

6564 Smoke Tree Lane

Scottsdale, Arizona 85253

(Address of Principal Executive Offices)

(480) 948-6581

(Registrant’s Telephone Number)

N/A

(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 ¨

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 ¨ No ¨

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

Large Accelerated Filer ¨		Accelerated Filer ¨

Non-Accelerated Filer ¨		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 ¨ No x

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

As of November 19, 2010, the registrant has 1,214,388,869 pre reverse split or 24,287,777 equivalent post reverse split shares on a 1:50 basis (effective November 9, 2010, see notes herein) of its $0.001 par value common stock issued and outstanding. There are no shares of Series A and B preferred stock, and 14,287 shares of Series C preferred stock issued and outstanding, at $0.001 par value for each of the Series of Preferred, and no shares of non-voting common stock issued and outstanding.

EGPI FIRECREEK, INC

f/k/a Energy Producers, Inc.

10-Q

September 30, 2010

TABLE OF CONTENTS

		PAGE
PART 1:	FINANCIAL INFORMATION

Item 1.	Financial Statements - Unaudited

	Consolidated Balance Sheets	3

	Consolidated Statements of Operations	4

	Consolidated Statements of Cash Flows	5

	Consolidated Statements of Changes in Shareholders' Deficit	6

	Notes to the Unaudited Consolidated Financial Statements	7

Item 2.	Management's Discussion and Analysis or Plan of Operation	23

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	28

Item 4(T)	Controls and Procedures	28

PART II:	OTHER INFORMATION

Item 1.	Legal Proceedings	29

Item 1A.	Risk Factors	29

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	29

Item 3.	Defaults upon Senior Securities	30

Item 4.	Removed and Reserved	30

Item 5.	Other Information	30

Item 6.	Exhibits	30

	Certifications

	Signature	31

PART I FINANCIAL INFORMATION

ITEM 1 – FINANCIAL STATEMENTS

EGPI FIRECREEK, INC.

CONSOLIDATED BALANCE SHEETS

AS OF SEPTEMBER 30, 2010 AND DECEMBER 31, 2009

	Unaudited
	30-Sep-10			31-Dec-09
ASSETS

Current assets:
Cash	$	36,577		$	17,625
Accounts receivable, net of allowance		367,878			739,166
Inventory		3,849			66,290
Prepaid expenses		52,841			47,566
Total current assets		461,145			870,647

Other assets:
Trade name, net of amortization		609,928			653,921
Customer list, net of amortization		174,777			158,939
Goodwill		2,012,518			2,001,840
Non-compete		7,000			-
Oil and natural gas properties (successful efforts method of accounting):
Proved, net of accumulated depletion, depreciation, and amortization		225,000			225,000

Fixed Assets, net		563,697			49,319
Total long term assets		3,592,920			3,089,019

Total assets	$	4,054,065		$	3,959,666

LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

Current liabilities:
Accounts payable & accrued expenses	$	3,406,464		$	2,729,515
Notes payable and convertible notes		3,469,193			941,990
Advances & notes payable to shareholders		162,218			240,918
Derivative Liability		829,515
Total current liabilities		7,867,390			3,912,423
Total liabilities		7,867,390			3,912,423

Shareholders' equity (deficit):
Series A preferred stock, 20 million authorized, par value $0.001, one share convertible to one common share, no stated dividend, none outstanding		0			0
Series B preferred stock, 20 million authorized, par value $0.001, one share convertible to one common share, no stated dividend, none outstanding		0			0
Series C preferred stock, 20 million authorized, par value $.001, each share has 21, 200 votes per share, are not convertible, have no stated dividend. 14,287 shares outstanding		0			0
Common stock- $0.001 par value, authorized 1,300,000,000 shares, issued and outstanding 18,175,142 at September 30, 2010 and 1,029,115 at December 31, 2009		45,807			28,590
Additional paid in capital		26,307,970			26,683,999
Other comprehensive income		190,963			0
Common stock subscribed		367,578			0
Contingent holdback		12,234			0
Accumulated deficit		(30,737,877	)		(26,665,346	)
Total shareholders' equity (deficit)		(3,813,325	)		47,243

Total liabilities & shareholders' equity (deficit)	$	4,054,065		$	3,959,666

See the notes to the unaudited consolidated financial statements.

EGPI FIRECREEK, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

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

(Unaudited)

	Nine Mos. 30-Sep-10			Nine Mos. 30-Sep-09			Three Mos. 30-Sep-10			Three Mos. 30-Sep-09
Revenues
Gross revenues from sales	$	1,564,849		$	0		$	648,551		$	0
Cost of sales		1,371,083			0			586,620			0
Net revenues from sales		193,766			0			61,931			0

General and administrative expenses:
General administration		2,478,075			1,211,673			804,768			714,570
Total general & administrative expenses		2,478,075			1,211,673			804,768			714,570

Net loss from operations		(2,284,309	)		(1,211,673	)		(742,837	)		(714,570	)
Other revenues and expenses:
Gain (loss) on asset disposal		2,927			0			1,254			0
Gain (loss) on Retirement of debt		(696,694	)		0			136,695			0
Gain (loss) on derivatives		(847,391	)		0			(387,344	)		0
Miscellaneous Income					48,000
Interest expense		(247,064	)		(6,281	)		(48,845	)		(4,184	)
Net income (loss) before provision for income taxes		(4,072,531	)		(1,169,954	)		(1,041,077	)		(718,754	)

Net income (loss)	$	(4,072,531	)	$	(1,169,954	)	$	(1,041,077	)	$	(718,754	)

Other comprehensive income (loss)
Gain on disposal of discontinued component					592,567						270,260
Gain (loss) from Foreign exchange translation		190,963			0			(230,513	)		0

Total comprehensive income (loss)	$	(3,881,568	)	$	(577,387	)	$	(1,271,590	)	$	(448,494	)

Basic and fully diluted net loss per common share:
Net income (loss) per share - continuing operations	$	(0.72	)	$	(3.38	)	$	(0.11	)	$	(1.31
Net income per share-discontinued operations	$	0.00		$	1.71		$	0.00		$	0.49	)
Net income (loss) per share	$	(0.72	)	$	(1.67	)	$	(0.11	)	$	(0.82	)

Weighted average of common shares outstanding:
Basic and fully diluted		5,374,261			346,335			11,256,073			547,651

See the notes to the unaudited consolidated financial statements.

EGPI FIRECREEK, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

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

	Unaudited			Unaudited
	31-Sep-10			31-Sep-09
Operating Activities:
Net loss	$	(4,072,531	)	$	(577,387	)
Adjustments to reconcile net loss items not requiring the use of cash:
Capital stock issued for services		726,734			0
Net change in derivative		847,391			0
Depreciation of intangibles		52,155			0
Depreciation and amortization PPE		22,019			0
Impairment expense		0			554,176
Gain/Loss on disposal of debt		696,694			0
Gain/Loss on disposal of fixed assets		(2,927	)
Note discount		(250,000	)
Changes in other operating assets and liabilities:
Accounts receivable		369,788			(489	)
Inventory		62,441			0
Accounts payable and accrued expenses		429,235			100,492
Prepaid expenses		(3,775	)		487,528
Gain on disposal of Firecreek (discontinued operation)					(592,567	)
Net cash used by operations		(1,122,776	)		(28,247	)

Investing activities:
Acquisition of fixed assets		(50,000	)
Security deposit					(20,000	)
Cash acquired in purchase of M3 Lighting		0			46,133
Net cash provided (used) by investing activities		(50,000	)		26,133

Financing Activities:
Proceeds from sale of stock		61,004			0
Borrowings on debt		1,251,056			0
Principal payments on debt		(311,295	)
Net cash provided by financing activities		1,000,766			0

Gain due to foreign currency translation		190,963			0

Net increase in cash during the period	$	18,952		$	(2,114	)

Cash balance at January 1st		17,625			2,230

Cash balance at September 30	$	36,577		$	116

Supplemental disclosures of cash flow information:
Interest paid during the year	$	0		$	0
Income taxes paid during the year	$	0		$	0

Non-cash activities:

Common stock issued for:
Debt conversion		2,844,900			-
M3 acquisition SATCO acquisition		4,464,400			-
Chanwest Acquisition M3 acquisition		268,276			-
Exchange of PP&E for loan payable		200,000			-
Assets acquired in capital lease		56,872			-

See the notes to the unaudited consolidated financial statements.

EGPI FIRECREEK, INC.

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ DEFICIT

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

											Other		Common
	Common		Par		Paid in			Accumulated			Comprehensive		Stock
	Shares		Value		Capital			Deficit			Loss		Subscribed		Other		Total
Balance at December 31,2009		1,029,116		28,590		26,683,999			(26,665,346	)		-		-		-		47,243
Issued shares for services		2,566,057		2,565		724,168			-			-		-		-		726,733
Shares for cash		4,669		47		60,957			-			-		-		-		61,004
Issued shares for debt		14,175,300		14,205		3,196,251			-			-		-		-		3,210,456
Warrants						10,150			-			-		-		-		10,150
Other comprehensive loss		-		-		-			-			190,963		-		-		190,963
Retirement of derivative						(28,626	)		-			-		-		-		(28,626	)
Acquisition of RedQuartz		-		-		(4,464,400	)		-			-				-		(4,464,400	)
Commons stock subscribed		-		-		-			-			-		367,578		-		367,578
Acquisition of Chanwest		400,000		400		125,471			-			-		-		-		125,871
Holdback provision		-		-		-			-			-		-		12,234		12,234
Net loss for the period		-		-		-			(4,072,531	)		-		-		-		(4,072,531	)
Balance at September 30, 2010		18,175,142		45,807		26,307,970			(30,737,877	)		190,963		367,578		12,234		(3,813,325	)

EGPI FIRECREEK, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE QUARTERS ENDED SEPTEMBER 30, 2010 AND SEPTEMBER 30, 2009

1. Organization of the Company and Significant Accounting Principles

The Company was incorporated in the State of Nevada October 1995. Effective October 13, 2004 the Company, previously known as Energy Producers Inc., changed its name to EGPI Firecreek, Inc.

Prior to December 2008, the Company held interests in various gas & oil wells located in the Wyoming and Texas area. In December 2008, the Company’s major creditor, Dutchess Private Equities Ltd. (Dutchess), foreclosed on the assets of the Company. As a result, all of the Company’s oil and gas properties were transferred to Dutchess in satisfaction of debt owed.

In October 2008, the Company effected a 1 share for 200 shares reverse split of its common stock and all amounts have been retroactively adjusted.

In May 2009 the Company acquired M3 Lighting, Inc. (“M3”) as a wholly owned subsidiary via reverse triangular merger. The Company was determined to be the acquirer in the transaction for accounting purposes. M3 is a distributor of commercial and decorative lighting to the trade and direct to retailers. As part of the Merger the Company effected a name change for its wholly owned subsidiary Malibu Holding, Inc. to Energy Producers, Inc. (“EPI”) as a conduit for its oil and gas activities.

In November 2009 the Company acquired all of the issued and outstanding capital stock of South Atlantic Traffic Corporation, a Florida corporation (“SATCO”). SATCO has been in business since 2001 and has several offices throughout the Southeast United States. SATCO carries a variety of products and inventory geared primarily towards the transportation industry. SATCO offers transportation products ranging from loop sealant, traffic signal equipment, traffic and light poles, data/video systems and Intelligent Traffic Systems (ITS) surveillance systems. SATCO works closely with Department of Transportation (DOT) agencies, local traffic engineers, contractors, and consultants to customize high quality traffic control systems.

In December 2009, the Company’s wholly owned subsidiary Energy Producers, Inc. acquired 50% working interests and corresponding 32% net revenue interests in oil and gas leases, reserves, and equipment located in West Central Texas. The Company entered into a turnkey work program included for three wells located on the leases.

On March 3, 2010, the Company executed a Stock Purchase Agreement with the stockholders of Redquartz LTD (“Sellers” or “RQTZ”), a company formed and existing under the laws of the country of Ireland, whereas the Company agreed to issue 100,000 shares of its restricted common stock valued at USD $2,500 in exchange for 100% of the issued and outstanding shares of common stock, par value $0.01 per share, of RQTZ. All assets and liabilities, other than the Shareholder Notes Payable, of the RQTZ were transferred to the prior owners of Redquartz. The Notes Payable represent a debt burden to RQTZ of USD $4,464,262. This obligation is based in Euros and converted to our functional currency the dollar. Redquartz LTD was inactive in the first and second quarter of 2010 and had no income and expense that would affect the financial statements of the Company and therefore no pro-forma is necessary.

On June 11, 2010, the Company acquired all of the issued and outstanding stock of Chanwest Resources, LLC, (“Chanwest or CWR”) a Texas corporation. In the course of this acquisition, Chanwest stockholders exchanged all outstanding common shares for the Company’s common shares and other provisions. Chanwest Resources, Inc. was formed in 2009 and has been engaged in ramping up operations including acquiring assets related to the servicing and construction, and activities related to the acquisition production and development for oil and gas. Chanwest has formed strategic alliances and brought key management with over 40 years experience in all facets of the oil and gas industry, to be implemented on day one of our acquisition thereof. Chanwests’ first phase of operations include Construction and Trucking, services for drill site preparation to clear and lay pipeline (gathering systems) for operators. Chanwest operations can provide for services to maintain lease roads, set power poles and clean up oilfield spills. Chanwest works with operators or lease owners by purchase order or contract with major oil fields.

On July 22, 2010 EGPI Firecreek, Inc. the Company executed a Stock Purchase Agreement with E-Views Safety Systems, Inc. ("E-Views") to be operated through its new subsidiary unit EGPI Firecreek Acquisition Company, Inc. Initially the Company has a “Dealer Agreement” with rights to acquire up to 51% of E-Views (see Exhibit 10.1 and 10.2 to our Report on Form 10-Q for the period ended June 30, 2010 filed on August 20, 2010, incorporated herein by reference). Founded in 1998, E-Views is both an innovator and provider of patented advanced wireless "smart infrastructure" technologies that incorporate intelligent traffic, transit, and light rail systems with messaging and communications that enable municipalities worldwide to provide first responder prioritization, traffic congestion mitigation, emergency evacuation coordination, multi-agency communications interoperability, nuclear/biological/chemical detection and data reporting.

On October 1, 2010 EGPI Firecreek, Inc. the Company entered into a Definitive Securities Purchase/Exchange Agreement with Terra Telecom, LLC. (“Terra"). Terra is considered recognized as a leading provider of state-of-the-art communication technologies and a premier Alcatel-Lucent partner. They currently serve various sized companies and organizations that use and deploy communications systems, sales, service, and training while consolidating and optimizing the end user experience. Its goal is to provide customers value and integrity in each of these opportunities. Since 1980, Terra has focused on delivering enterprise solutions while leading with voice services and offering full turn-key solutions that consist of voice, data, video and associated applications.

On October 18, 2010, the Company filed a Certificate of Amendment to its Articles of Incorporation, increasing its authorized common stock, par value $0.001 per share, to 3,000,000,000 from 1,300,000,000 and maintains 60,000,000 par value $0.001 per share of its authorized preferred stock.

On November 9, 2010, the Company effected a 1 share for 50 shares reverse split of its common stock and all amounts have been retroactively adjusted for all periods presented.

Consolidation - the accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company balances have been eliminated.

The financial information included in this quarterly report should be read in conjunction with the consolidated financial statements and related notes thereto in our Form 10-K for the year ended December 31, 2009.

Use of Estimates - The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make reasonable estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses at the date of the consolidated financial statements and for the period they include. Actual results may differ from these estimates.

Revenue and Cost Recognition - Revenue is recognized from oil & gas sales at such time as the oil & gas is delivered to the buyer. For its producing activities, the Company uses successful efforts costing.

Sales from South Atlantic Traffic Company revenues are recognized at the time product has been delivered to the customer. Sales are recorded net of discounts or other adjustments which may be applied to the gross sales price. Customer sales are specialty orders drop-shipped from the manufacturer. Accordingly, all sales are final upon delivery to the customer under the terms of the sales order. The Company’s policy is not to grant customer refunds. Customer deposits received upon execution of a sales order are recorded as revenue upon completion of the sale.

The Company records commission revenue, usually 3% of the amount invoiced, based on contracts with suppliers, once the purchase order is placed with the supplier and the customer is invoiced. The Company, in turn, sends an invoice to the supplier for 3% of the total order amount. Commission sales are specialty orders drop-shipped from the manufacturer. Accordingly, all sales are final upon delivery to the customer under the terms of the sales order.

Cash Equivalents -The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. There were no cash equivalents as of September 30, 2010 or December 31, 2009.

Accounts Receivable - The Company extends credit to its customers in the normal course of business and performs ongoing credit evaluations of its customers, maintaining allowances for potential credit losses which, when realized, have been within management's expectations. The allowance method is used to account for uncollectible amounts. The evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. Allowance for doubtful accounts was $687,269 at September 30, 2010 and $651,913 at December 31, 2009.

Inventory - Inventories consist of merchandise purchased for resale and are stated at the lower of cost or market using the first-in, first-out (FIFO) method.

Prepaid Expenses - Prepaid expenses are recorded at cost for payments for goods and services purchased during an accounting period but not used or consumed during that accounting period. The costs are amortized over time as the benefit is received onto the income statement.

Oil and Gas Activities - The Company uses the successful efforts method of accounting for oil and gas producing activities. Under this method, acquisition costs for proved and unproved properties are capitalized when incurred. Exploration costs, including geological and geophysical costs, the costs of carrying and retaining unproved properties and exploratory dry hole drilling costs, are expensed. Development costs, including the costs to drill and equip development wells, and successful exploratory drilling costs to locate proved reserves are capitalized.

Exploratory drilling costs are capitalized when incurred pending the determination of whether a well has found proved reserves. A determination of whether a well has found proved reserves is made shortly after drilling is completed. The determination is based on a process which relies on interpretations of available geologic, geophysic, and engineering data. If a well is determined to be successful, the capitalized drilling costs will be reclassified as part of the cost of the well. If a well is determined to be unsuccessful, the capitalized drilling costs will be charged to expense in the period the determination is made. If an exploratory well requires a major capital expenditure before production can begin, the cost of drilling the exploratory well will continue to be carried as an asset pending determination of whether proved reserves have been found only as long as: i) the well has found a sufficient quantity of reserves to justify its completion as a producing well if the required capital expenditure is made and ii) drilling of the additional exploratory wells is under way or firmly planned for the near future. If drilling in the area is not under way or firmly planned, or if the well has not found a commercially producible quantity of reserves, the exploratory well is assumed to be impaired, and its costs are charged to expense.

In the absence of a determination as to whether the reserves that have been found can be classified as proved, the costs of drilling such an exploratory well is not carried as an asset for more than one year following completion of drilling. If, after that year has passed, a determination that proved reserves exist cannot be made, the well is assumed to be impaired, and its costs are charged to expense. Its costs can, however, continue to be capitalized if a sufficient quantity of reserves is discovered in the well to justify its completion as a producing well and sufficient progress is made in assessing the reserves and the well’s economic and operating feasibility.

The impairment of unamortized capital costs is measured at a lease level and is reduced to fair value if it is determined that the sum of expected future net cash flows is less than the net book value. The Company determines if impairment has occurred through either adverse changes or as a result of the annual review of all fields. During 2009 after conducting an impairment analysis, the Company did not record impairment as the PV 10 value as our reserves exceeded our cost.

Asset Retirement Obligations (“ARO”). The estimated costs of restoration and removal of facilities are accrued. The fair value of a liability for an asset's retirement obligation is recorded in the period in which it is incurred and the corresponding cost capitalized by increasing the carrying amount of the related long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depreciated with the related long-lived asset. If the liability is settled for an amount other than the recorded amount, a gain or loss is recognized. For all periods presented, estimated future costs of abandonment and dismantlement are included in the full cost amortization base and are amortized as a component of depletion expense. At September 30, 2010, the ARO of $4,337 is included in accrued expenses and fixed assets.

Development costs of proved oil and gas properties, including estimated dismantlement, restoration and abandonment costs and acquisition costs, are depreciated and depleted on a field basis by the units-of-production method using proved developed and proved reserves, respectively. The costs of unproved oil and gas properties are generally combined and impaired over a period that is based on the average holding period for such properties and the Company's experience of successful drilling.

Costs of retired, sold or abandoned properties that make up a part of an amortization base (partial field) are charged to accumulated depreciation, depletion and amortization if the units-of-production rate is not significantly affected. Accordingly, a gain or loss, if any, is recognized only when a group of proved properties (entire field) that make up the amortization base has been retired, abandoned or sold.

Stock-Based Compensation - The Company estimates the fair value of share-based payment awards made to employees and directors, including stock options, restricted stock and employee stock purchases related to employee stock purchase plans, on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense ratably over the requisite service periods. We estimate the fair value of each share-based award using the Black-Scholes option pricing model. The Black-Scholes model is highly complex and dependent on key estimates by management. The estimates with the greatest degree of subjective judgment are the estimated lives of the stock-based awards and the estimated volatility of our stock price. The Black-Scholes model is also used for our valuation of warrants.

Earnings Per Common Share - Basic earnings per common share is calculated based upon the weighted average number of common shares outstanding for the period. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents (convertible notes and interest on the notes, stock awards and stock options) outstanding during the period. Dilutive earnings per common share reflects the potential dilution that could occur if options to purchase common stock were exercised for shares of common stock. Basic and diluted EPS are the same as the effect of our potential common stock equivalents would be anti-dilutive.

Fair Value Measurements - On January 1, 2008, the Company adopted guidance which defines fair value, establishes a framework for using fair value to measure financial assets and liabilities on a recurring basis, and expands disclosures about fair value measurements. Beginning on January 1, 2009, the Company also applied the guidance to non-financial assets and liabilities measured at fair value on a non-recurring basis, which includes goodwill and intangible assets. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of the inputs as follows:

Level 1 - Valuation is based upon unadjusted quoted market prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2 - Valuation is based upon quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable in the market.

Level 3 - Valuation is based on models where significant inputs are not observable. The unobservable inputs reflect the Company's own assumptions about the inputs that market participants would use.

Non-Recurring fair value metrics:

Level 1 – None

Level 2 – None

Level 3 – Intangible assets –

Trade Name $661,000, Customer List $187,000, Goodwill $2,012,518, Non-Compete $7,000 = Total $2,867,518

The Company has goodwill and intangible assets as a result of the 2009 business combinations discussed throughout this form 10Q. These assets were valued with the help of a valuation consultant and consisted of level 3 valuation techniques.

The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and long-term debt. The estimated fair value of cash, accounts receivable, accounts payable and accrued liabilities approximate their carrying amounts due to the short-term nature of these instruments. The carrying value of long-term debt also approximates fair value since their terms are similar to those in the lending market for comparable loans with comparable risks. None of these instruments are held for trading purposes.

Fixed Assets - Fixed assets are stated at cost. Depreciation expense is computed using the straight-line method over the estimated useful life of the asset. The following is a summary of the estimated useful lives used in computing depreciation expense:

Office equipment	3 years
Computer hardware & software	3 years
Improvements & furniture	5 years
Well equipment	7 years

Expenditures for major repairs and renewals that extend the useful life of the asset are capitalized. Minor repair expenditures are charged to expense as incurred.

Impairment of Long-Lived Assets - The Company has adopted Accounting Standards Codification subtopic 360-10, Property, Plant and Equipment ("ASC 360-10"). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates its long-lived assets for impairment annually or more often if events and circumstances warrant. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of intangible assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset. ASC 360-10 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less costs to sell.

Goodwill and Other Intangible Assets - The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. The Company’s evaluation of goodwill completed during the year ended December 31, 2009 resulted in no impairment.

As September 30, 2010, amortizable intangible assets consist of trade names and customer contracts. These intangibles are being amortized on a straight-line basis over their estimated useful lives of 12 and 10 years, respectively. For the nine month period ended September 30, 2010 the Company recorded amortization of our intangibles of $52,155, and amortization of $11,140 at December 31, 2009.

Income taxes - The Company accounts for income taxes using the asset and liability method, which requires the establishment of deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided to the extent deferred tax assets may not be recoverable after consideration of the future reversal of deferred tax liabilities, tax planning strategies, and projected future taxable income.

The Company uses a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance requires the Company to recognize tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax benefits” is recorded for any tax benefits claimed in our tax returns that do not meet these recognition and measurement standards.

Foreign Currency Translation and Transaction and translation - The financial position at present for the Company’s foreign subsidiary Redquartz LLC, established under the laws of the Country of Ireland are determined using (U.S. dollars) reporting currency as the functional currency. All exchange gains and losses from remeasurement of monetary assets and liabilities that are not denominated in U.S. dollars are recognized currently in other comprehensive income. All transactional gains and losses are part of income or loss from operations (if and when incurred) will be pursuant to current accounting literature.

The Company’s functional currency is the U.S dollar. We have an obligation related to our acquisition of Red Quartz as discussed in Note 7 which is denominated in Euro’s. The change in currency valuation from our reporting this obligation in U.S dollars is reported as a component of other comprehensive income consistent with the relevant accounting literature.

Derivative Financial Instruments -The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. Derivative financial instruments are initially measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re−valued at each reporting date, with changes in the fair value reported as charges or credits to income. For option−based derivative financial instruments, the Company uses the Black−Scholes model to value the derivative instruments. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non−current based on whether or not net−cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

Recently Adopted and Recently Enacted Accounting Pronouncements

In April 2009, the FASB issued ASC 350-10, "Determination of the Useful Life of Intangible Assets." ASC 350-10 amends the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible asset under ASC 350-10, "Goodwill and Other Intangible Assets." ASC No. 350-10 is effective for fiscal years beginning after December 15, 2008. The adoption of this ASC did not have a material impact on our consolidated financial statements.

In April 2009, the FASB issued ASC 805-10, "Accounting for Assets Acquired and Liabilities assumed in a Business Combination That Arise from Contingencies—an amendment of FASB Statement No. 141 (Revised December 2007), Business Combinations". ASC 805-10 addresses application issues raised by preparers, auditors and members of the legal profession on initial recognition and measurement, subsequent measurement and accounting and disclosure of assets and liabilities arising from contingencies in a business combination. ASC 805-10 is effective for assets or liabilities arising from contingencies in business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. ASC 805-10 will have an impact on our accounting for any future acquisitions and its consolidated financial statements.

In May 2009, the FASB issued ASC Topic 855, “Subsequent Events”. ASC Topic 855 established principles and requirements for evaluating and reporting subsequent events and distinguishes which subsequent events should be recognized in the financial statements versus which subsequent events should be disclosed in the financial statements. ASC Topic 855 also requires disclosure of the date through which subsequent events are evaluated by management. ASC Topic 855 was effective for interim periods ending after June 15, 2009 and applies prospectively. Because ASC Topic 855 impacts the disclosure requirements, and not the accounting treatment for subsequent events, the adoption of ASC Topic 855 did not impact our consolidated results of operations or financial condition. See Note 10 for disclosures regarding our subsequent events.

Effective July 1, 2009, we adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 105-10, Generally Accepted Accounting Principles—Overall ("ASC 105-10"). ASC 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 ("ASUs"). The FASB will not consider ASUs as authoritative in their own right. ASUs 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 these consolidated financials have been updated for the Codification.

In August 2009, the FASB issued ASU No. 2009-05, Measuring Liabilities at Fair Value, which provides additional guidance on how companies should measure liabilities at fair value under ASC 820. The ASU clarifies that the quoted price for an identical liability should be used. However, if such information is not available, an entity may use the quoted price of an identical liability when traded as an asset, quoted prices for similar liabilities or similar liabilities traded as assets, or another valuation technique (such as the market or income approach). The ASU also indicates that the fair value of a liability is not adjusted to reflect the impact of contractual restrictions that prevent its transfer and indicates circumstances in which quoted prices for an identical liability or quoted price for an identical liability traded as an asset may be considered level 1 fair value measurements. This ASU is effective October 1, 2009. We are currently evaluating the impact of this standard, but would not expect it to have a material impact on the our consolidated results of operations or financial condition.

In October 2009, the Financial Accounting Standards Board (“FASB”) issued new revenue recognition standards for arrangements with multiple deliverables, where certain of those deliverables are non-software related. The new standards permit entities to initially use management’s best estimate of selling price to value individual deliverables when those deliverables do not have Vendor Specific Objective Evidence (“VSOE”) of fair value or when third-party evidence is not available. Additionally, these new standards modify the manner in which the transaction consideration is allocated across the separately identified deliverables by no longer permitting the residual method of allocating arrangement consideration. These new standards are effective for annual periods ending after June 15, 2010 and early adoption is permitted. The Company is currently evaluating the impact of adopting this standard on the Company’s consolidated financial position, results of operations and cash flows.

In June 2009, the FASB issued guidance establishing the Codification as the source of authoritative U.S. Generally Accepted Accounting Principles (“U. S. GAAP”) recognized by the FASB to be applied by non-governmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. The Codification supersedes all existing non-SEC accounting and reporting standards. All other non-grandfathered non-SEC accounting literature not included in the Codification will become non-authoritative. The FASB will no longer issue new standards in the form of Statements, FASB Staff Positions, or Emerging Issues Task Force Abstracts. Instead, the FASB will issue Accounting Standards Updates, which will serve only to update the Codification, provide background information about the guidance and provide the bases for conclusions on changes in the Codification. All content in the Codification carries the same level of authority, and the U.S. GAAP hierarchy was modified to include only two levels of U.S. GAAP: authoritative and non-authoritative. The Codification is effective for the Company’s interim and annual periods beginning with the Company’s year ending December 31, 2009. Adoption of the Codification affected disclosures in the Consolidated Financial Statements by eliminating references to previously issued accounting literature, such as SFASs, EITFs and FSPs.

In June 2009, the FASB issued amended standards for determining whether to consolidate a variable interest entity. These new standards amend the evaluation criteria to identify the primary beneficiary of a variable interest entity and require ongoing reassessment of whether an enterprise is the primary beneficiary of the variable interest entity. The provisions of the new standards are effective for annual reporting periods beginning after November 15, 2009 and interim periods within those fiscal years. The adoption of the new standards will not have an impact on the Company’s consolidated financial position, results of operations and cash flows.

In May 2009, the FASB issued guidance establishing general standards for accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued and shall be applied to subsequent events not addressed in other applicable generally accepted accounting principles. This guidance, among other things, sets forth the period after the balance sheet date during which management should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements, the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements and the disclosures an entity should make about events or transactions that occurred after the balance sheet date. The adoption of this guidance had no impact on the Company’s consolidated financial position, results of operations and cash flows.

2. Going Concern

The accompanying consolidated financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying consolidated financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company has experienced substantial losses, maintains a negative working capital and capital deficits, which raise substantial doubt about the Company's ability to continue as a going concern.

The Company is working to manage its current liabilities while it continues to make changes in operations to improve its cash flow and liquidity position. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon the Company’s ability to generate revenue from the sale of its services and the cooperation of the Company’s note holders to assist with obtaining working capital to meet operating costs in addition to our ability to raise funds.

3. Common and Preferred Stock Transactions

In the first nine months of 2010, the Company issued 2,566,057 shares of common stock for services valued at $726,734. Additional shares have been authorized but not yet issued amounting to a stock payable of $367,578. The shares were issued (or authorized) to various business consultants, advisors, and legal consultants for assisting the Company’s growth plan. We used the closing share price on the date of grant for valuation of the expense.

In the first nine months of 2010, the Company issued 14,175,300 shares of common stock to extinguish debt of $2,860,736.

In the first nine months of 2010, the Company issued 4,669 shares of common stock for subscription price of $61,004.

In the third quarter of 2010, 2,000 shares were issued to Red Quartz in conjunction with the acquisition.

4. Preferred Stock Series

Series A preferred stock: Series A preferred stock has a par value of $0.001 per share and no stated dividend preference. The Series A is convertible into common stock at a conversion ratio of one preferred share for one common share. Preferred A has liquidation preference over Preferred B stock and common stock.

Series B preferred stock: Series B preferred stock has a par value of $0.001 per share and no stated dividend preference. The Series B is convertible into common stock at a conversion ratio of one preferred share for one common share. The Series B has liquidation preference over Preferred C stock and common stock.

Series C preferred stock: The Preferred C stock has a stated value of $.001 and no stated dividend rate and is non-participatory. The Series C has liquidation preference over common stock. Effective May 20, 2009 i) Voting Rights for each share of Series C Preferred Stock shall have 21,200 votes on the election of directors of the Company and for all other purposes, and, ii) regarding Conversion to Common Shares, Series C have no right to convert to common or any other series of authorized shares of the Company.

5. Fixed Assets and Oil and Gas Properties

The following is a detailed list of fixed assets:

	30-Sep-10			31-Sep-09
Property and Equipment	$	643,009		$	109,488
Well leases		150,263			163,500
Well equipment		74,737			61,500
Accumulated depreciation & depletion		(79,312	)		(64,506	)

Fixed assets- net	$	788,697		$	274,319

6. Options & Warrants Outstanding

All options and warrants granted are recorded at fair value using a Black-Scholes model at the date of the grant. There is no formal stock option plan for employees.

A listing of options and warrants outstanding at September 30, 2010 is as follows. Option and warrants outstanding and their attendant exercise prices have been adjusted for the 1 for 200 reverse split of the common stock discussed in Note 1.

	Amount			Weighted Average Exercise Price		Weighted Average Years to Maturity
Outstanding at December 31, 2009		131,326		$	59.26		2.89

Issued		181,751
Exercised		0
Expired		(1,326	)

Outstanding at Sept 30, 2010		311,751		$	15.47		2.33

During the nine month period ended September 30, 2010, the Company granted two consulting firms a three year option agreement in representing the aggregate amount of 181,751 cashless options calculated as of September 30, 2010 and based on vesting date of September 1, 2010. The warrants expire two and one half (2.5) years from the date of vesting. Pursuant to the terms of the two agreements, the description and method of calculating the shares to obtain the strike price, which has not yet been exercised, is: Each of the agreements agrees for the Holder of options to be able to purchase .5% of the Company’s common stock for $10,000 upon an exercise, if any, during the exercise period available to each of the Holders. To be able to determine the floating exercise price and amount of shares available for exercise we first divided the exercise price of $10,000 by the .5% of the outstanding shares of the Company’s common stock according to the transfer agent records only, or one half percent of 18,175,142 at September 30, 2010, or calculated out one half of one percent becomes 4,543,786. Therefore the strike price for the exercise at September 30, 2010 would be $10,000 divided by 90,876 or $0.11 per share strike price. The volatility used was estimated at 95% with the estimated fair value for each of the option agreements $957.68, or a total of $1,915.36 in the aggregate.

During the nine month period ended September 30, 2010, 11,326 of the Company’s options-warrants have expired.

During 2009 we granted 130,000 warrants. 10,000 warrants were granted to a consultant pursuant to an advisory agreement with an exercise price of $50.00 per share, 3 year term, an estimated 95% volatility and an estimated fair value of $7,934.

During 2009 we granted 120,000 to continue to try and improve our relationship with our debt holders. There were two issuances of 60,000. The first issuance included an exercise price of $50.00 per share, 3 year term, an estimated 95% volatility and an estimated fair value of $25,550. The second issuance included an exercise price of $62.50 per share, 3 year term, an estimated 95% volatility and an estimated fair value of $20,553.

The estimated total value of the above warrants was $10,050 of which value was expensed for 2010, and $54,037 expensed during 2009.

7. Acquisition of M3 Lighting, Inc. (M3), South Atlantic Traffic Corporation (SATCO), Redquartz LTD (RQTZ), and Chanwest Resources, LLC (CWR).

2010

On March 3, 2010, the Company executed a Stock Purchase Agreement with the stockholders of Redquartz LTD (“Sellers” or “RQTZ”), a company formed and existing under the laws of the country of Ireland, whereas the Company agreed to issue 2,000 shares of its restricted common stock valued at USD $2,500 in exchange for 100% of the issued and outstanding shares of common stock, par value $0.01 per share, of RQTZ. All assets and liabilities, other than the Shareholder Notes Payable, of the RQTZ were transferred to the prior owners of Redquartz. The Notes Payable represent a debt burden to RQTZ of USD $4,464,262. This obligation is based in Euros and converted to our functional currency the dollar. Redquartz LTD was inactive in the first quarter of 2010 and had no income and expense that would affect the financial statements of the Company and therefore no pro-forma is necessary. The transaction value was recorded to APIC due to the related party nature of this Agreement.

ii)

On June 11, 2010, the Company executed a Stock Purchase Agreement with the stockholders of Chanwest Resources, LLC, (“Chanwest or CWR”) a Texas corporation, whereas the Company agreed to issue 400,000 shares of its restricted common stock valued at USD $95,000, in exchange for 100% of the issued and outstanding shares of common stock, with a no par value designation per share, of CWR. All assets and liabilities, other than the Shareholder Notes Payable, of the CWR were retained by the Company via ownership of the subsidiary unit in the initial amount of $252,161. Chanwest Resources, LLC was essentially inactive in the first and second quarter of 2010 having a minor amount of income and expense that would substantially affect the financial statements of the Company, however we have elected to include a pro forma result with this report for the nine month period ended September 30, 2010, and none for 2009 as Chanwest was just then incorporated in November 2009.

The Agreement calls for the following material terms:

I.	Purchase of Stock and Purchase Price

1. The Company agreed to pay to the Sellers aggregate consideration delivery of:

(a) 413,053 shares of the Company’s common stock issued to the Sellers pro rata based on their ownership in Chanwest representing $95,000 in value.

II.	Purchase Price Adjustment Mechanism

Of the shares to be issued to Sellers by the Company, ten percent (10%), or 45,894 shares shall be held back and not issued for a period of one hundred twenty (120) days from Closing (the “holdback period”) and shall thereafter be issued to Seller subject to the following conditions having been met within the holdback period.

(a) The generation of gross revenues to Chanwest of a minimum of $24,000 per week during the holdback period ($384,000 revenue target in total) with such revenues being derived from and produced by the activities of Mr. David Killian pursuant to the Employment Agreement described in Section 6.3 of the Agreement.

III.	Working Capital Requirement

1.	The Purchaser shall further provide working capital in the amount of One Hundred Twenty Five Thousand $125,000 with $70,000 due upon execution of the Agreement and $55,000 due within 30 days thereof or as mutually agreeable in writing signed by the parties hereto.

IV.	Employee Bonus Pool

A pool of shares of the Registrants common stock, the amount to be agreed upon by both the Purchaser and Seller but not to exceed 10,000 shares or more than .5% (one half of one percent) of the Purchasers stock, whichever is lesser, shall be made available for distribution to employees of the Corporation at the first anniversary of the Closing in an incentive stock option plan for the benefit of certain employees of the Companies designated by the Sellers, with an exercise price not to exceed one hundred and ten percent market price on date of issuance. The pool of shares will be determined to be available based on the Corporations ability to earn a minimum of $300,000 before interest, taxes, depreciation and amortization.

A breakdown of the purchase price for Chanwest (CWR) is as follows:

Common stock issuance	$	125,871
Contingent holdback shares		10,234
Contingent employee bonus pool		2,000
Total purchase price		138,105

Final Purchase Price Allocation:

Current assets	$	423
Property, plant and equipment		226,598
Customer base		24,000
Non-Compete		7,000
Assumed liabilities		(130,594	)
Goodwill		10,678
Total purchase price	$	138,105

The following unaudited pro-forma assumes the transaction occurred as of the beginning of the periods presented as if it would have been reported during the nine-month periods below.

	EGPI			Chanwest
	Firecreek,			Resources,
	Inc.			LLC
	Nine Months			Nine Months
	Ending			Ending
	30-Sep-10			30-Sep-10			Adj.		Combined
Revenues
Sales	$	1,522,301		$	44,548		$	-	$	1,566,849
Cost of goods sold		1,332,248			40,535			-		1,372,783
Gross profit		190,053			4,013			-		194,066

Operating expenses
Selling, general and administrative		2,763,128			66,062			-		2,829,190
Depreciation		-			-			-		-
Total operating expenses		2,763,128			66,062			-		2,829,190

Net income {loss) from operations		(2,573,075	)		(62,049	)		-		(2,635,124	)

Other income (expenses):
Gain or loss on asset disposal		2,927			-			-		2,927
Loss on retirement of debt		(668,811	)		-			-		(668,811	)
Gain (loss) on derivatives		986,140			-			-		986,140
Interest expense, net		(498,175	)		-			-		(498,175
Total other income (expenses)		(177,919	)		-					(177,919	)

Net income (loss) before provision for income taxes		(2,782,050	)		(62,049	)		-		(2,813,043	)

Provision for income taxes		-			-			-		-
Gain (loss) from Foreign exchange translation		190,963								190,963
Net income (loss) from continuing operation		(2,560,031	)		(62,049	)		-		(2,622,080	)

Net income (loss)	$	(2,560,031	)	$	(62,049	)	$	-	$	(2,622,080	)

Basic & fully diluted loss per share
Basic income (loss) per share –continuing operations									$	(0.04	)
Basic income (loss) per share									$	(0.04	)

Weighted average of common shares outstanding:
Basic & fully diluted										167,854,714

2009

On May 21, 2009, The Company, Asian Ventures Corp., a Nevada corporation (the “Subsidiary”), M3 Lighting, Inc., a Nevada corporation (“M3”), and Strategic Partners Consulting, L.L.C., a Georgia limited liability company (“Strategic Partners”) executed and closed a Plan and Agreement of Triangular Merger (the “Plan of Merger”), whereby M3 merged into the Subsidiary, a wholly-owned subsidiary of the Company. The acquisition has been accounted for at cost basis with no step up in purchase price due to M3 no having ongoing operations as a development stage company and no meeting the definition of a business. We gave 286,416 shares of our commons stock to acquire M3. No pro-forma is necessary as given the development stage nature of this Company the results of our operations would not materially change had the acquisition occurred at the beginning of the prior year.

ii)

On November 4, 2009, the Company, Bob Joyner, a Florida resident ("Joyner"), Stewart Hall, a North Carolina resident ("Hall"), Hunter Intelligent Traffic Systems, LLC, a Georgia limited liability company (“Hunter”) and South Atlantic Traffic Corporation, a Florida corporation ( “SATCO”), executed a Stock Purchase Agreement (the "Agreement") whereas the Registrant acquired all of the outstanding stock and interests held in SATCO. A copy of the Agreement was attached as an exhibit to our Current Report filed with the Commission on November 12, 2009. The acquisition has been accounted for as a purchase under accounting principles generally accepted in the United States (GAAP). Under the purchase method of accounting, in accordance with ARC 805 , the assets and liabilities of SATCO are recorded as of the acquisition date at their respective fair values, and consolidated with the Company’s assets and liabilities.

The Agreement calls for the following material terms:

I. Purchase of Stock, Purchase Price:

1. The Registrant agreed to pay to the Sellers aggregate consideration of $2,326,300 (the "PURCHASE PRICE"), adjusted to $2,058,373 as a result of the estimated make whole provision below by delivery of:

(a) Cash in available funds equal to the greater of: (i) sum of Fifty Percent (50%) of SATCO’s available cash balance at Closing plus Twenty-Five Percent (25%) of SATCO’s trade accounts receivables aged less than Ninety (90) days past due at Closing with an additional amount to be negotiated for the outstanding retainage and imminent collections of receivables over 90 days old as negotiated prior to Closing; which was (ii) $600,000.

(b) Promissory notes issued to each Seller in the aggregate principal amount of Five Hundred Sixty Three Thousand One Hundred US Dollars ($563,100) (the “PROMISSORY NOTES”). The Promissory Notes will accrue interest at a rate of Nine Percent (9%) per annum and will amortize with a principal and interest payment at the First Anniversary Date of the Transaction of Twenty-Five Percent (25%) of the Promissory Notes plus accrued interest, a principal and interest payment at the Second Anniversary Date of the Transaction of Twenty-Five Percent (25%) of the Promissory Notes plus accrued interest and a Final Payment of the Outstanding Balance of the Promissory Notes plus any unpaid interest on the Third Anniversary Date of the Transaction.

(c) 58,160 shares of the Registrant’s common stock issued to the Sellers pro rata based on their ownership in SATCO representing $1,163,200.00 in value at a price per share of $0.40 ("STOCK CONSIDERATION").

(d) Principal and interest on the Promissory Notes will be allocated to the Sellers pro rata based on their equity ownership SATCO. The Promissory Notes carry a cumulative claw-back feature (the “Claw Back”) for the term of the Promissory Notes listed in the agreement.

(e) Stock consideration shall be issued at closing as follows: The Purchaser shall issue to the Sellers an aggregate of 58,160 shares of its Common Stock (“the “STOCK CONSIDERATION”) the total Stock Consideration to be paid to the Sellers based upon a share price of Forty Cents ($0.40) per share.

(f) Stock Consideration issued at Closing will carry a make whole provision (the “Make Whole”). It is the parties’ intention that the Proposed Transaction will be structured as a tax-free reorganization under Section 368(a) of the Internal Revenue Code of 1986, as amended. The Make Whole provides down-side protection against a decline in the Registrant’s common share price. The Make Whole is available only for shares held from the Stock Consideration by the Seller for a period of one year following Closing. In the event that the Market Price Per Share of the Stock Consideration during the thirty (30) consecutive trading days immediately prior to the first anniversary of the Closing (the “Make Whole Date”) is less than $.40, the Registrant would, at the Registrant’s option, either issue to Sellers that number of additional shares of EGPI common stock equal to (1) the number of shares of EGPI common stock comprising the Stock Consideration held at the Make Whole Date, multiplied by $.40, less (2) the number of shares of EGPI common stock comprising the Stock Consideration held at the Make Whole Date, multiplied by the Market Price Per Share of the Stock Consideration on the Make Whole Date. Notwithstanding the foregoing, the Registrant’s obligation to make any adjustment pursuant to the preceding sentence shall terminate in the event that, at any time prior to the Make Whole Date, the aggregate Market Price Per Share of the Registrant’s common stock during any twenty consecutive trading days exceeds $.75. The termination of the Make Whole mechanism will only apply if the Sellers’ shares are registered during the entire twenty consecutive trading days period, during which the Market Price Per Share of the Registrant’s common stock exceeds $.75, by virtue of eligibility and effectiveness of either i) 144 legend removal or ii) self imposed registration process by the Registrant.

A breakdown of the purchase price is as follows:

Cash consideration paid	$	600,000
Promissory note to Sellers		295,173
Shares issued		174,480
Contingent consideration liability - make whole provision (accounted for in equity)		988,720
Contingent asset – claw back provision		-
Total purchase price		2,058,373

Final Purchase Price Allocation:

Current assets	$	1,425,881
Property, plant and equipment		85,530
Trade name		661,000
Customer relationships		163,000
Assumed liabilities		(2,278,878	)
Goodwill		2,001,840
Total purchase price	$	2,058,373

The following unaudited pro-forma assumes the transaction occurred as of the beginning of the periods presented as if it would have been reported during the twelve month periods below.

	EGPI Firecreek, Inc. Nine Months Ending 30-Sep-09			South Atlantic Traffic Corporation Nine Months Ending 30-Sep-09			Adjustments		Combined
Revenues
Sales	$	-		$	6,369,263		$	-	$	6,369,263
Cost of goods sold		-			5,457,323			-		5,457,323
Gross profit		-			911,940			-		911,940

Operating expenses
Selling, general and administrative		1,211,673			880,412			-		2,092,085
Depreciation		-			31,587			-		31,587
Total operating expenses		1,211,673			911,999			-		2,123,672

Net income {loss) from operations		(1,211,673	)		(59	)		-		(1,211,732	)

Other income (expenses)
Miscellaneous income		48,000			0					48,000
Disposal of assets		0			7,476					7,476
Interest expense, net		(6,281	)		(23,612	)				(29,893	)
Total other income (expenses)		(41,719	)		(16,136	)		-		25,583

Net income (loss) before provision for income taxes		(1,169,954	)		(16,195	)		-		(1,186,149	)

Provision for income taxes		-			-			-		-

Net income (loss) from continuing operation		(1,169,954	)		(16,195	)				(1,186,149	)

Discontinued operations:
Gain on disposal of discontinued component (net of tax)		592,567			-					592,567
Loss from operations and discontinued component (net of tax)		-			-					-

Net income (loss)	$	(577,387	)	$	(16,195	)	$	-	$	(593,532	)

Basic & fully diluted loss per share
Basic income (loss) per share –continuing operations									$	(.07	)
Basic income (loss) per share –discontinued operations									$	.03
Basic income (loss) per share									$	(.04	)

Weighted average of common shares outstanding:
Basic & fully diluted										17,316,735

8. Related Party Transactions

During fiscal year 2010, three shareholders had unsecured non-interest bearing advances receivable from the Company. Imputed interest at a rate of 10% was immaterial on these advances which total $162,218 at September 30, 2010 and at December 31, 2009.

Relative to the May 21, 2009 acquisition of M3 Lighting, Inc. the Company approved an Administrative Services Agreement (ASA), and amended terms thereof, with Strategic Partners Consulting, LLC (SPC), Two of the Company’s officers, directors and shareholders, David H. Ray, Director and Executive Vice President and Treasurer of the Company and M3 since May 21, 2009 and Brandon D. Ray Director and Executive Vice President of Finance of the Company and M3 are also owners and managers of SPC. Information is listed in Exhibit 10.1 to a Current Report on form 8-K, Amendment No. 1, filed on June 23, 3009. The ASA initiated on November 4, 2009, in accordance with its terms thereof, and is being currently billed at the rate of $20,833 per month. The ASA contract was canceled June 8, 2010. During the three months ending September 30, 2010, $3,000 was paid to SPC leaving a remaining balance due of $82,058 as of September 30, 2010.

As discussed in Note 7 On March 3, 2010, the Company acquired Redquartz LTD, a company formed and existing under the laws of the country of Ireland, and subscribed for issuance of 2,000 shares of its restricted common stock valued at USD $2,500 in exchange for 100% of the issued and outstanding shares of common stock, par value $0.01 per share, of RQTZ. All assets and liabilities, other than the Shareholder Notes Payable, of the RQTZ were transferred to the prior owners of Redquartz. The Notes Payable then represented a debt burden to RQTZ of USD $4,464,262. This obligation is based in Euros and converted to our functional currency the dollar. Redquartz LTD was inactive in the first quarter of 2010. The transaction value was recorded to APIC due to the related party nature of this Agreement.

9. Notes Payable

At September 30, 2010, the Company was liable on the following Promissory notes:

(See notes below to the accompanying table)

Date of		Date Obligation	Interest		Balance Due
Obligation	Notes	Matures	Rate (%)		09/30/10 ($)
9/17/2009	3	9/17/2010	12		$	11,691
5/29/2009	3	9/17/2010	12	*		25,547
9/17/2009	3	9/17/2010	18	*		3,402
11/4/2009	3	11/4/2012	9			117,365
11/4/2009	3	11/4/2012	9			117,365
11/4/2009	3	11/4/2012	9			117,365
12/7/2009	3	12/7/2010	9			1,241
2/8/2010	3	12/1/2010	4			128,000
2/15/2010	4	2/15/2012	8			585,413
4/1/2010	4	6/30/2011	9			21,700
7/26/2010	6,2	7/26/2012	20			165,000
8/3/2010	1	8/3/2012	8			153,046
8/10/2010	7	8/10/2012	20			35,000
9/3/2010	8	5/23/2011	8			50,000
3/1/2010	5	3/31/12	10			1,937,058
					$	3,469,193

* Compounded

Notes:

Other than as described at Notes 1, 2, 6, 7 and 8 none of the other notes had conversion options.

Note 1: On January 15, 2010, the Company issued an $86,000 Convertible Promissory Note (“Convertible Note”) and a registration rights agreement (“RRA”) to an investor for making a $1,000,000 cash loan. The Convertible Note has no specified interest rate and was scheduled to mature six months from the closing date. At the investor’s option, the outstanding principal amount, including all accrued and unpaid interest and fees, may be converted into shares of common stock at the conversion price, which is 75% of the lower of (a) $0.08 per share; or (b) the lowest three-day common stock volume weighted average price during the prior twenty business days. In addition, if the Company sells common shares or securities convertible into common shares, the Conversion Price shall become the lower of: (a) the conversion price in effect immediately prior to the sale of securities; or (b) the conversion price of the securities sold.

The RRA provides both mandatory and piggyback registration rights. The Company was obligated to (a) file a registration statement for 40,000 common shares (subject to adjustment) no later than 14 days after the closing date, and (b) have it declared effective no later than the earlier of (i) five days after the SEC notifies the Company that it may be declared effective or (ii) 90 days from the closing date. The Company was obligated to pay the investor a penalty of $100 for each day that it is late in meeting these obligations. The Company’s registration statement was filed late and on March 18, 2010 it was withdrawn.

Upon occurrence of an Event of Default (various specified events), the Lender may (a) declare the unpaid principal balance and all accrued and unpaid interest thereon immediately due and payable; (b) at anytime after January 31, 2010, immediately draw on the LOC to satisfy EGPI’s obligations; and (c) interest will accrue at the rate of 18%.

Upon occurrence of a Trigger event: (a) the outstanding principal amount will increase by 25%; and (b) interest will accrue at the rate of 18%. The Trigger Event effects shall not be applied more than two times. There are various Trigger Events, including (a) the five-day common stock VWAP declines below $0.04; (b) the ten-day average daily trading volume declines below $5,000; (c) a judgment against EGPI in excess of $100,000; (d) failure to file a registration statement on time; (e) failure to cause a registration statement to become effective on time; (f) events of default; and (g) insufficient authorized common shares.

During the first quarter of 2010, the Company tripped two trigger events and incurred resulting penalties and incremental debt obligation. These events increased the outstanding principal amount of the Convertible Note by approximately $22,000 and $27,000 of trigger penalties.

It was determined that the Convertible Note’s conversion option, plus other existing equity instruments (warrants outstanding; see Notes 2 and 7 below) of the Company, were required to be (re)classified as derivative liabilities as of January 15, 2010, because (a) the Convertible Note provides conversion price protection; and (b) the quantity of shares issuable pursuant to the conversion option is indeterminate. The conversion option and the related instruments were initially valued at $63,080 (expected term of 0.5 years; risk-free rate of 0.15%; and volatility of 95%) and this amount was recorded as a note discount and derivative liability. The derivative liabilities were then marked to the market to an aggregate value of $16,158 (expected term of 0.3 years; risk-free rate of 0.16%; and volatility of 95%) at March 31, 2010.

On May 12, 2010, the parties to the Convertible Note executed a Waiver of Trigger Event, which stipulated: (1) the principal outstanding on the Convertible Note was fixed at $147,500 as of May 12, 2010; (2) the remaining impact of the trigger events and failure to register the shares was waived; (3) the interest rate was reset at 9%; (4) the number of shares issuable under the conversion option was capped at 150 million shares; (5) the repricing provision of the conversion option was eliminated; and (6) the maturity date of the note was revised to August 15, 2010. In addition, if the market price of the Company’s common stock declines such that the conversion option would be capped at the agreed 150 million shares, the repayment date is accelerated and the outstanding balance on the note is immediately due and payable. As a result of the above, the conversion option and related instruments were revalued as of May 12, 2010 and were reclassified to paid-in-capital (equity) in the amount of $50,303 (expected term of 0.3 years; risk-free rate of 0.16%; and volatility of 95%).

Effective August 3, 2010 the Company entered into a Promissory Note in the amount of $153,046 with an entity that had acquired and then exchanged the Debt described above. The terms of the Promissory Note are for 8% interest, with principal and interest all due on or before August 3, 2012. The note is current as of September 30, 2010.

For the three and nine months ended September 30, 2010, the Company has recorded no charge and a $12,777 benefit on the statement of operations, respectively, associated with the change in the value of the derivative liabilities over the time period. The note discount was amortized using the interest method over the duration of the Convertible Note (initially six months and amended to eight months) and interest expense of $14,291 and $63,080 was recognized during the three and nine months ended September 30, 2010, respectively. No derivative liability existed as of September 30, 2010.

Note 2: On December 22, 2009, we also issued $150,000 of notes that will become convertible only upon an Event of Default. The Company evaluated these notes and determined that: (1) the conversion option was eligible for a scope exception for bifurcation from the note; and (2) since the note is contingently convertible and not currently substantive, the beneficial conversion feature would not be recognized unless the conversion option was triggered. While the notes weren’t repaid until July 2010, there was no Event of Default.

The Company also granted 120,000 warrants to these note holders as noted previously in these footnotes. Initially, the warrants received equity treatment. However, because the shares issuable pursuant to the conversion option on the January 15, 2010 Convertible Note were indeterminate from January 15, 2010 until May 12, 2010, these warrants were reclassified from equity to derivative liabilities as of January 15, 2010 and back to equity as of May 12, 2010. Because the shares issuable pursuant to the conversion option on the July 26, 2010 Convertible Note (see Note 6) are indeterminate these warrants were reclassified again from equity to derivative liabilities as of July 26, 2010.

The December 22, 2009 values of the warrants (expected term of 3.0 years; risk-free rate of 1.48%; and volatility of 95%) were $45,413 and, after adjusting for the relative fair values of the notes and the warrants, a $34,859 note discount was recorded and classified as paid-in-capital (equity). The note discount was amortized using the interest method over the six month duration of the Convertible Note and interest expense of none and $34,859 was recognized during the three and nine months ended September 30, 2010, respectively.

The January 15, 2010 value of the warrants (expected term of 2.9 years; risk-free rate of 1.44%; and volatility of 95%) of $20,384 was reclassified from paid-in-capital (equity) to derivative liabilities. The May 12, 2010 value of the warrants (expected term of 2.6 years; risk-free rate of 1.15%; and volatility of 95%) of $162 was reclassified from derivative liabilities to paid-in-capital (equity). The July 26, 2010 value of the warrants (expected term of 2.4 years; risk-free rate of 0.80%; and volatility of 95%) of $6 was reclassified from paid-in-capital (equity) to derivative liabilities. The September 30, 2010 value of the warrants (expected term of 2.2 years; risk-free rate of 0.53%; and volatility of 95%) was marked to the market as immaterial. For the three and nine months ended September 30, 2010, the Company recorded a $6 benefit and a $20,228 benefit on the statement of operations, respectively, associated with the change in the value of the derivative liabilities.

Note 3: During 2009 we received cash proceeds for these debt obligations of $393,976.

Note 4: For the period ended September 30, 2010, we have received cash proceeds for these debt obligations of $825,715.

Note 5: For the period ended September 30, 2010 we have additional debt obligations owed totaling $1,937,058.

Note 6: On July 26, 2010, we issued a $165,000 secured convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 24 months on July 26, 2012. While the notes have not yet become due or repaid, there was no Event of Default as of September 30, 2010, or thereafter. The Company evaluated the note and determined that the shares issuable pursuant to the conversion option were indeterminate and therefore this conversion option and all other dilutive securities would be classified as a derivative liability as of July 26, 2010. The July 26, 2010 value of the conversion option (expected term of 2.0 years; risk-free rate of 0.62%; and volatility of 95%) of $165,000 was recorded as a note discount, to be amortized over the life of the note, and derivative liability. The derivative liability was marked to market at September 30, 2010 to its then current value of $518,571 (expected term of 1.8 years; risk-free rate of 0.38%; and volatility of 95%). For the three and nine months ended September 30, 2010, the Company recognized negligible note discount amortization and a $999,429 benefit on the statement of operations associated with the change in the value of the derivative liabilities.

Note 7: On August 10, 2010, we issued a $35,000 convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 24 months on August 10, 2012. While the notes have not yet become due or repaid, there was no Event of Default as of September 30, 2010, or thereafter. The Company evaluated the note and determined that, because the shares issuable pursuant to the July 26, 2010 convertible note are indeterminate, the conversion option associated with this note is deemed to be a derivative liability. The August 10, 2010 value of the note of $35,000 (expected term of 2.0 years; risk-free rate of 0.52%; and volatility of 95%) was recorded as a note discount, to be amortized over the life of the note, and derivative liability. The derivative liability was marked to market at September 30, 2010 to its then current value of $110,000 (expected term of 1.9 years; risk-free rate of 0.42%; and volatility of 95%). For the three and nine months ended September 30, 2010, the Company recognized negligible note discount amortization and a $83,200 benefit on the statement of operations associated with the change in the value of the derivative liabilities.

Note 8: On September 3, 2010, we issued a $50,000 convertible promissory note that is convertible at the election of the holder any time after issuance, or upon an Event of Default, or when due in 9 months on May 23, 2011. While the notes have not yet become due or repaid, there was no Event of Default as of September 30, 2010, or thereafter October 2010 forward. The Company evaluated the note and determined that, because the shares issuable pursuant to the July 26, 2010 convertible note are indeterminate, the conversion option associated with this note is deemed to be a derivative liability. The September 3, 2010 value of the note (expected term of 0.7 years; risk-free rate of 0.22%; and volatility of 95%) of $50,000 was recorded as a note discount, to be amortized over the life of the note, and derivative liability. The derivative liability was marked to market at September 30, 2010 to its then current value of $37,106 (expected term of 0.6 years; risk-free rate of 0.19%; and volatility of 95%). For the three and nine months ended September 30, 2010, the Company recognized negligible note discount amortization and a $38,056 benefit on the statement of operations associated with the change in the value of the derivative liabilities.

Note 9: General Note: Although a portion of our debt is not due within 12 months, given our working capital deficit and cash positions and our ability to service the debt on a long term basis is questionable, the notes are all treated as current liabilities.

Note 10: General Note: Other previously issued warrants to purchase 11,326 shares of common stock were reclassified from equity to derivative liabilities upon the issuance of the January 15, 2010 Convertible Note, on account of the indeterminate nature of the number of shares to be issued pursuant to the conversion option. Those same warrants were reclassified back to equity from derivative liabilities upon the May 12, 2010 execution of the Waiver of Trigger Event. During June 2010, warrants to purchase 1,326 shares expired. Warrants to purchase 10,000 shares of common stock were reclassified from equity to derivative liabilities upon the issuance of the July 26, 2010 Convertible Note. The value of the warrants on each of those dates was negligible. As of September 30, 2010, the values of these warrants continue to be negligible.

Note 11: In the first nine months of 2010, the Company issued 12,129,301 shares of common stock to extinguish debt of $2,860,736.

10. Professional Service Agreements

On March 1, 2010, the Company entered into two professional service agreements (the “Agreements”) which are intended to be automatically renewable annually. Aggregate fees pursuant to the Agreements are comprised of (a) $20,000 in cash per month which has been accrued through the period ended September 30, 2010; (b) a one-time issuance of 120,000 shares of restricted common stock; and (c) three-year options, which vest six months from the grant date, to purchase for $20,000 the lower of (i) shares of common stock representing 1% of the Company’s outstanding common stock; or (ii) shares of common stock representing a fair market value of $150,000. In addition, the vendors are entitled to convert any unpaid cash fees into common stock at a 50% discount to the fair market value of the stock on the date of conversion.

The March 1, 2010 value of the options of $440 (expected term of 2.9 years; risk-free rate of 1.02%; and volatility of 95%) was recorded as general administration expense and a derivative liability due to the issuance of the January 15, 2010 Convertible Note. The May 12, 2010 value of the options of $9,068 (expected term of 2.8 years; risk-free rate of 1.27%; and volatility of 95%) was reclassified from derivative liabilities to paid-in-capital (equity). The July 26, 2010 value of the options of $12,214 (expected term of 2.6 years; risk-free rate of 0.80%; and volatility of 95%) was reclassified from paid-in-capital (equity) to derivative liabilities. The September 30, 2010 value of the options of $1,802 (expected term of 2.4 years; risk-free rate of 0.53%; and volatility of 95%) was marked to the market. For the three and nine months ended September 30, 2010, the Company recorded $15,160 and a $1,784 benefits on the statement of operations, respectively, associated with the change in the value of the derivative liabilities.

Through September 30, 2010, the cumulative value associated with the initial recording of the conversion option related to the monthly cash fee obligations was $168,465 which was recorded as general administration expense and a derivative liability. The September 30, 2010 value of the conversion option associated with the cumulative cash fee obligations was $162,036 (expected term of 0.9 years; risk-free rate of 0.27%; and volatility of 95%) was marked to the market. For the three and nine months ended September 30, 2010, on the statement of operations, the Company recorded $70,418 and $168,465 as general administration expense; and benefits of $4,702 and $6,429 associated with the change in the value of the derivative liabilities, respectively.

For the three and nine months ended September 30, 2010, the Company also recognized $41,250 and $96,250 of general administration expense, respectively, with a corresponding credit to paid-in-capital, which represents amortization of the $165,000 grant date value of the 120,000 shares of restricted common stock over the expected one year service period.

11. Concentrations and Risk

Customers

During the year ended December 31, 2009, and for the nine months ended September 30, 2010, revenue generated under the top five customers accounted for 45% and 81% of the Company’s total revenue. For the year ended December 31, 2009, and for the nine months ended September 30, 2010 three customers accounted for 29% and 72% of the total outstanding accounts receivable. Concentration with a single or a few customers may expose the Company to the risk of substantial losses if a single dominant customer stops conducting business with the Company. Moreover, the Company may be subject to the risks faced by these major customers to the extent that such risks impede such customers’ ability to stay in business and make timely payments.

Suppliers

The Company obtained approximately 47% of its products from one manufacturer in the United States for the nine months ending September 30, 2010. Concentration with a single or a few suppliers may expose the Company to the risk of substantial losses if a single dominant supplier stops conducting business with the Company. Management believes this poses no business risk as the Company believes alternative product sources are readily available if needed.

12. Contingencies

The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of its business activities. Management believes that any liability that may ultimately result from the resolution of these matters will not have a material adverse effect on the financial condition or results of operations of the Company.

In April 2010 we received a lawsuit on behalf of our SATCO subsidiary whereas Acuity Brands Lighting Inc. (“Acuity”) is seeking a judgment to collect amounts owed to Acuity by SATCO. Bob Joyner, Stewart Hall and Michael Hunter were also named on the lawsuit as each of the previous owners of SATCO had personal guarantees contained in the agreement between Acuity and SATCO. The previous owners of SATCO were indemnified for the personal guarantees in the Stock Purchase Agreement between the Company and SATCO.

In July 2010 we received a lawsuit notice on behalf of our SATCO subsidiary whereas Pelco Products, Inc. (“Pelco”) is seeking a judgment to collect amounts owed it from SATCO in the total aggregate amount of $26,229, and subsequent thereto a Default Journal Entry of Judgment was filed on September 3, 2010. There are no material differences in the amount accrued and the default judgment.

In May 2010 we received a lawsuit on behalf of our SATCO subsidiary whereas Targetti Poulsen USA Inc. (“Poulsen”) is seeking a judgment to collect amounts owed to Poulsen by SATCO. Southeast Underground Utilities Corp. (“SE Underground”) was also named on the lawsuit as SE Underground is a customer of SATCO and had failed to pay SATCO for materials ordered from Poulsen. Management is confident that this matter will be resolved ultimately in SATCO’s favor and since we do not believe we are at fault or liable, we intend to vigorously defend our position. On August 16th, 2010 a default and final judgment was awarded to Targetti Poulsen in the amount of $266,189. Due to the nature of this claim and Southeast Underground's blatant non-payment to SATCO for amounts owed, it is management's belief that the Company is not liable and is currently exploring all appeal opportunities and processes. There are no material differences in the amount accrued and the judgment amount.

In August 2010 we received a lawsuit notice on behalf of our SATCO subsidiary whereas Bison Profab, Inc. (“BPI”) is seeking a judgment to collect amounts owed it from SATCO. On October 12, 2010 BPI has filed a motion for a No-Answer Default Judgment on SATCO and the Company for failure to answer in the amount of approximately $27,710. The Company believes that it is not liable, and intends to file for an appeal to remove it from the motion for judgment. There are no material differences in the amount accrued and the judgment amount.

As noted in our business combination footnote our SATCO acquisition contained certain make whole provisions that may impact us in the future.

As noted in our debt footnote above, we have certain notes that may become convertible in the future and potential result in further dilution to our common shareholders.

In July 2010 our Chanwest Resources, Inc. subsidiary operation (“CWR”) entered into a purchase lease agreement with Circle D Trucking of Texas which includes a right to purchase the leased equipment valued at $164,500. Payments of approximately $10,000 have been made to date toward CWRs intent to purchase.

13. Subsequent Events

On October 1, 2010 EGPI Firecreek, Inc. the Company entered into a Definitive Purchase/Exchange Agreement with Terra Telecom, LLC. (“Terra"). For further information regarding Terra Telecom LLC please see our Current Report on Form 8-K filed on October 7, 2010, incorporated herein by reference.

In October 2010, the Company issued 3,405,492 shares of common stock to various entities to reduce debt owed to debt holders.

In November 2010, the Company issued 2,350,000 shares of common stock to various entities to reduce debt owed to debt holders.

In November 2010, the Company issued 357,143 shares of common stock to a consultants and advisors for services rendered.

confur

On November 9, 2010, the Company effected a 1 share for 50 shares reverse split of its common stock and all amounts have been retroactively adjusted.

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

You should read the following discussion and analysis in conjunction with the Consolidated Financial Statements in Form 10-K, as amended, and the other financial data appearing elsewhere in this Form 10-Q Report.

The information set forth in Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, among others (i) expected changes in the Company’s revenues and profitability, (ii) prospective business opportunities and (iii) the Company’s strategy for financing its business. Forward-looking statements are statements other than historical information or statements of current condition. Some forward-looking statements may be identified by use of terms such as “believes”, “anticipates”, “intends” or “expects”. These forward-looking statements relate to the plans, objectives and expectations of the Company for future operations. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, in light of the risks and uncertainties inherent in all future projections, the inclusion of forward-looking statements in this report should not be regarded as a representation by the Company or any other person that the objectives or plans of the Company will be achieved. In light of these risks and uncertainties, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The foregoing review of important factors should not be construed as exhaustive. The Company undertakes no obligation to release publicly the results of any future revisions it may make to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

The Company has been focused on oil and gas activities for development of interests held that were acquired in Texas and Wyoming for the production of oil and natural gas through December 2, 2008. The Company throughout 2008 was seeking to continue expansion and growth for oil and gas development in its core projects. EGPI Firecreek Inc. was formerly known as Energy Producers, Inc., an oil and gas production company focusing on the recovery and development of oil and natural gas. This strategy is centered on rehabilitation and production enhancement techniques, utilizing modern management and technology applications in upgrading certain proven reserves.

In its 2005 fiscal year, the Company initiated a program to review domestic oil and gas prospects and targets. As a result, EGPI acquired non-operating oil and gas interests in a project titled Ten Mile Draw (“TMD”) located in Sweetwater County, Wyoming USA for the development and production of natural gas. In July, 2007, the Company acquired and began production of oil at the 2,000 plus acre Fant Ranch Unit in Knox County, Texas. This was followed by the acquisition and commencement of oil and gas production at the J.B. Tubb Leasehold Estate located in the Amoco Crawar Field in Ward County, Texas in March, 2008. The Company successfully increased production and revenues derived from its properties and in late 2008, the Company was able to retire over 90% of its debt through the disposition of those improved properties.

In early 2009, based on the economic downturn, struggling financial markets and the implementation of the federal stimulus package for infrastructure projects, the Company embarked on a transition from an emphasis on the oil and gas focused business to that of an acquisition strategy focused on the transportation industry serving federal DOT and state/local DOT agencies. In addition, the acquisition targets being reviewed by the Company also had a presence in the telecommunications and general construction industries. The acquisition strategy focuses on vertically integrating manufacturing entities, distributors and construction groups. In May 2009, the Company acquired M3 Lighting Inc. (M3) as the flagship subsidiary with key additional management team to begin this process, and as a result on November 4, 2009, the Company acquired all of the capital stock of South Atlantic Traffic Corporation, a Florida corporation, (SATCO) which distributes a variety of products geared primarily towards the transportation industry where it derives its revenues. In July 2010, the Company entered into a Definitive Agreement with E-Views Safety Systems, Inc. ("E-Views") to be operated through its new subsidiary unit EGPI Firecreek Acquisition Company, Inc. Initially the Company has a “Dealer Agreement” with rights to acquire up to 51% of E-Views. The Stock Purchase Agreement provides for up to a 51% interest in E-Views and exclusive distribution and sales rights in various states. The Company has initially solidified rights for the states of Alabama, Florida, Louisiana and North Carolina. They have also obtained international rights in the countries of Ireland and the United Kingdom. These states were initially chosen because of our subsidiary Southern Atlantic Traffic Corporation's, established clientele, and therefore potential abilities to penetrate these markets with E-Views patented technology and state-of-the-art products (see further discussion this Section). Recently in October 2010, the Company executed a Securities Purchase / Exchange Agreement (“SPA”) with the owners (“Sellers”) of Terra Telecom, LLC, an Oklahoma limited liability company, located in Tulsa, Oklahoma ( “Terra”) to acquire all of the outstanding stock of Terra, and 100% of the total LLC membership units existing thereof. Terra Telecom is considered recognized as a leading provider of state-of-the-art communication technologies and a premier Alcatel-Lucent partner. They currently serve various sized companies and organizations that use and deploy communications systems, sales, service, and training while consolidating and optimizing the end user experience. Terra Telecom also works with the United Nations delivering Alcatel voice products to several countries and the Texas Dept. of Transportation, which will bring opportunities to the Company through Terra’s various ITS/DOT opportunities in place with Alcatel products. Terra employs approximately 40 personnel at the present time.

Through 2009 we continued our previous decisions to limit and wind down the historical pursuit of our oil and gas projects overseas in Central Asian and European countries. In late 2009 and in 2010, the Company began pursuing a reentry to the oil and gas industry and again as part of our strategic plans. The Company is currently a party to a pending agreement to acquire an entity that owns approximately 2,100 miles of a pipeline system initially used as a crude oil transportation system by Koch Industries and, on December 31, 2009, the Company, through its wholly-owned subsidiary, Energy Producers, Inc., (EPI) effectively acquired a 50% working interest and corresponding 32% revenue interest in certain oil and gas leases, reserves and equipment located in West Central Texas, and the Company in its second quarter of operations 2010, acquired all the stock of Chanwest Resources, LLC, (“Chanwest or CWR”) a Texas corporation, engaged in the oil and gas servicing business, including construction, and activities related to acquisition for the production and development for oil and gas (see further discussion this Section).

The Company has been making presentations to asset-based lenders and other financial institutions for the purpose of (i) expanding and supporting our growth potential by development of its new line of operations for M3, SATCO, EPI, CWR, E-Views, and Terra or acquisitions by the Company that are vertically related to M3, SATCO, EPI, CWR, E-Views, and Terra such as Redquartz and E-Views and or Terra for SATCO and Chanwest for EPI, and (ii) building new infrastructure for its oil and gas operations in 2009. The Company throughout its first quarter of operations for 2010 has been pursuing projects for acquisition and development of select targeted oil and gas proved producing properties with revenues, having upside potential and prospects for enhancement, rehabilitation, and future development. These prospects are primarily located in Eastern Texas, and in other core areas of the Permian Basin.

The Company’s goal is to rebuild our revenue base and cash flow; however, the Company makes no guarantees and can provide no assurances that it will be successful in these endeavors.

One of the ways our plans for growth could be altered if current opportunities now available become unavailable:

General

The Company historically derived its revenues primarily from retail sales of oil and gas field inventory equipment, service, and supply items primarily in the southern Arkansas area, and from acquired interests owned in revenue producing oil wells, leases, and equipment located in Olney, Young County, Texas. The Company disposed of these two segments of operations in 2003. The Company acquired a marine vessel sales brokerage and charter business, International Yacht Sales Group, Ltd. of Great Britain in December 2003 later disposing of its operations in late 2005. In 2009 we disposed of our wholly owned subsidiary Firecreek Petroleum, Inc. (see further information in this report and in our current Report on Form 8-K filed May 20, 2009, incorporated herein by reference). We account for or have accounted for these segments as discontinued operations in the consolidated statements of operations for the related fiscal year.

Sale/Assignment of 100% Stock of FPI Subsidiary

Having disposed of all of the assets of FPI, on May 18, 2009, the Company and Firecreek Global, Inc., entered into a Stock Acquisition Agreement effective the 18th day of May, 2009, relating to the Assignees acquisition of all of the issued and outstanding shares of the capital stock of Firecreek Petroleum, Inc., a Delaware corporation. Moreover, included and inherent in the Assignment was all of the Company’s debt held in the FPI subsidiary. In addition, the Company, and Assignee executed a right of first refusal agreement attached as Exhibit to the Agreement, granting to the Company the right of first refusal, for a period of two (2) years after Closing, to participate in certain overseas projects in which Assignee may have or obtain rights related to Assignors’ previous activities in certain areas of the world. For further information please see our current Report on Form 8-K filed on May 20, 2009, incorporated herein by reference.

Completion of Recent Merger Acquisition with M3 Lighting, Inc.

On May 21, 2009, EGPI Firecreek, Inc., a Nevada corporation (the “Company” or “Registrant”), Asian Ventures Corp., a Nevada corporation (the “Subsidiary”), M3 Lighting, Inc., a Nevada corporation (“M3”), and Strategic Partners Consulting, L.L.C., a Georgia limited liability company (“Strategic Partners”) executed and closed a Plan and Agreement of Triangular Merger (the “Plan of Merger”), whereby M3 merged into the Subsidiary, a wholly-owned subsidiary of the registrant (the “Merger”). Further information can be found along with copy of the Plan of Merger attached as an exhibit to our Current Report on Form 8-K, filed with the Commission on May 27, 2009, as amended. Amendment No. 1 and No. 2 to the May 27, 2009 current Report on Form 8-K were filed on June 24 and August 4, 2009, respectively, and incorporated herein by reference.

In accordance with the Company’s plans and strategy we are currently developing two lines of business, one line of business for our historical oil and gas operations now reorganized into the Company’s wholly owned subsidiary unit, Energy Producers, Inc. F/K/A Malibu Holding, Inc., this replacing Firecreek Petroleum, Inc., and one for M3 Lighting, Inc., F/K/A Asian Ventures, Corp. which is involved in distribution of commercial and decorative lighting to the trade, and to direct retailers. M3 specializes in the areas of lighting industry sales, design, product development, and sourcing, contracting and capital markets. M3 has a presence in the U.S. and Asia. With a sales representative in China and offices in the U.S., the M3 team through this footprint, as required, can effectively monitor price competition, expediting product shipments and grow the business through sales. M3 can import both finished goods and sub-assemblies for domestic final assembly. Through its experience, knowledge and contacts in the lighting and DOT industry, M3 created a business plan to create a vertical rollup and stream of acquisitions targeted strategically for the Company that included manufactures, distributors and contractors. This change in strategy allowed the management and key decision makers at M3 more time to focus on potential acquisitions who they had done business with for numerous years. Focusing on the Obama Infrastructure Stimulus funding that is being released for roadwork throughout the country; M3 is pursing companies that are involved in the lighting, traffic signs/signals and ITS components of the industry. M3 is also actively pursuing federal contracts to provide lighting and contracting through our partnership with CST Federal who are a disabled veteran’s agency that bids government contracts. Future acquisitions in the DOT construction industry are expected to provide a labor force for the maintenance and remediation services the Company plans on providing.

Completion of South Atlantic Traffic, Inc. (SATCO) Acquisition

Effective as of November 4, 2009, the Company acquired all of the issued and outstanding capital stock of South Atlantic Traffic Corporation, a Florida corporation (“SATCO”). In the course of this acquisition, SATCO stockholders exchanged all outstanding common shares for cash consideration, the Company’s common shares and sellers’ notes. SATCO has been in business since 2001 and has several offices throughout the Southeast United States. Please see further discussion and information listed in “The Business” and “Description of Properties” in our Report on Form 10-K filed on April 15, 2010, and elsewhere in this document.

Completion of Acquisition of 50% Oil and Gas Working Interests, Callahan, Stephens, and Shakelford Counties, Texas, Three Well Program

Effective December 31, 2009, the Company through its wholly owned subsidiary Energy Producers, Inc. closed an Acquisition Agreement including an Assignment of Interests in Oil and Gas Leases (the “Assignment”), with Whitt Oil & Gas, Inc., (“Whitt”) a Texas corporation acquiring 50% working interests and corresponding 32% net revenue interests in oil and gas leases representing the aggregate total of 240 acre leases, reserves, three wells, and equipment located in Callahan, Stephens, and Shakelford Counties, West Central Texas. Please see further discussion and information listed in “The Business” and “Description of Properties” listed in our Report on Form 10-K filed on April 15, 2010 and elsewhere in this report.

Completion of Redquartz LTD Acquisition

On March 3, 2010, the Company acquired all of the issued and outstanding stock of Redquartz LTD, a company formed and existing under the laws of the country of Ireland. Redquartz LTD has been in business for 45 years, is known internationally and is our entrance into the European markets with respect to Intelligent Traffic Systems (ITS) and the transportation industry as well as expanding our relationship recently established with Cordil, Inc. for the products sold by South Atlantic Traffic, Inc. (SATCO), a wholly owned subsidiary of the Company. For further information please see our Current Report on Form 8-K filed on March 11, 2010, and in the section on “The Business”, listed in our Report on Form 10-K filed on April 15, 2010 and elsewhere in this report..

Completion of Completion of Chanwest Resources, LLC Acquisition

On June 11, 2010, the Company acquired all of the issued and outstanding stock of Chanwest Resources, LLC, (“Chanwest or CWR”) a Texas corporation. In the course of this acquisition, Chanwest stockholders exchanged all outstanding common shares for the Company’s common shares. Chanwest Resources, Inc. was formed in 2009 and has been engaged in ramping up operations including acquiring assets related to the servicing, construction, production and development for oil and gas. Chanwest has formed strategic alliances and brought key management with over 40 years experience in all facets of the oil and gas industry, to be implemented on day one of our acquisition thereof. Chanwests’ first phase of operations through one or more of its segments include Construction and Trucking, with a complement of assets which will be deployed providing related services used for hauling equipment, delivery and spreading of rock, iron ore, dirt and gravel, used in lease roads, firewall’s, tank pads, and drill sites. Chanwest will provide services for drill site preparation to clear and lay pipeline (gathering systems) for operators. Chanwest operations can provide for services to maintain lease roads, set power poles and clean up oilfield spills. Chanwest works with operators or lease owners by purchase order or contract with major oil fields. For further information please see our Current Report on Form 8-K filed on June 16, 2010.

Completion and Entry into a Definitive Agreement with E-Views Safety Systems, Inc.

On July 22, 2010 EGPI Firecreek, Inc. the Company entered into a Definitive Stock Purchase Agreement with E-Views Safety Systems, Inc. ("E-Views") to be operated through its new subsidiary unit EGPI Firecreek Acquisition Company, Inc. Initially the Company has a “Dealer Agreement” with rights to acquire up to 51% of E-Views (see Exhibit 10.1 and 10.2 to our Report on Form 10-Q for the period ended June 30, 2010 filed on August 20, 2010, incorporated herein by reference).

The Stock Purchase Agreement provides for up to a 51% interest in E-Views and exclusive distribution and sales rights in various states. The Company has initially solidified rights for the states of Alabama, Florida, Louisiana and North Carolina. They have also obtained international rights in the countries of Ireland and the United Kingdom. These states were initially chosen because of our subsidiary Southern Atlantic Traffic Corporation's, established clientele, and therefore potential abilities to penetrate these markets with E-Views patented technology and state-of-the-art products.

Founded in 1998, E-Views is a leading edge innovator and provider of patented advanced wireless "smart infrastructure" technologies that incorporate intelligent traffic, transit, and light rail systems with messaging and communications that enable municipalities worldwide to provide first responder prioritization, traffic congestion mitigation, emergency evacuation coordination, multi-agency communications interoperability, nuclear/biological/chemical detection and data reporting.

Additionally, the California Institute of Technology ("CalTech") holds an equity position in E-Views. The Technology Affiliates Agreement between E-Views and CalTech/Jet Propulsion Laboratories ("JPL") is designed to commercialize leading-edge space technology focused on public transportation and safety. Currently, CalTech provides extensive resources to E-Views through JPL in the areas of advanced Global Positioning Systems, Bio-Chemical Hazard Sensors, next generation detection and warning technologies for railroad crossings, solar systems for remote equipment on urban roadways, and extreme environment electronics for very hot and cold climates. These technologies can be integrated into future products to provide significant enhancements to public transportation and safety systems and give E-Views a tremendous competitive advantage.

E-Views currently owns 7 patents with an additional 6 patents pending giving them an Intelligent Transportation Systems ("ITS") product that is one of the most advanced Intersection Infrastructure Technologies available today. In 2006 E-Views received approval from Houston Transtar and implemented its first multi-million dollar contract with the 3rd largest county in the U.S., Harris County, Texas, for its EVP System. As a result of its success in Texas, E-Views is quickly becoming the standard in ITS Systems for progressive municipalities throughout North America. The company's sales are beginning to enjoy significant growth as initial purchase orders have been received from as far north as Montreal, Canada to Henderson, Nevada.

Completion and Entry into a Definitive Agreement with Terra Telecom, LLC.

On October 1, 2010, EGPI Firecreek, Inc. (“Purchaser”) executed a Securities Purchase / Exchange Agreement (“SPA”) with the owners (“Sellers”) of Terra Telecom, LLC, an Oklahoma limited liability company, located at 4510 South 86th East Ave, Tulsa, Oklahoma, 74145 ( “Terra”) to acquire all of the outstanding stock of Terra, and 100% of the total LLC membership units existing thereof. All assets and liabilities of Terra, other than information listed in the SPA are considered to be transferred to the Purchaser. For more information on Terra, please see our Current Report on Form 8-K and Exhibit 10.1 thereto filed on August 7, 2010.

Terra Telecom is considered recognized as a leading provider of state-of-the-art communication technologies and a premier Alcatel-Lucent partner. They currently serve various sized companies and organizations that use and deploy communications systems, sales, service, and training while consolidating and optimizing the end user experience. Terra is believed to have developed into an industry leader in value creation for each of their clients and stakeholders. Terra’s enterprise business has experienced exponential sales volume and revenue growth since January 2005 with year to year revenue growth presented to us averaging 46.6% over 2005, 2006 and 2007. In 2006 Terra relocated its company headquarters to a 25,000 square foot facility in Tulsa, Oklahoma. This facility provides Terra the space to continue growth and the ability to manage operations throughout the nation. Terra Telecom also works with the United Nations delivering Alcatel voice products to several countries and the Texas Dept. of Transportation, which will bring opportunities to EGPI Firecreek, Inc. through Terra’s various ITS/DOT opportunities in place with Alcatel products. Terra employs approximately 40 personnel at the present time.

The Company expects to incur an increase in operating expenses during the next year from commencing activities related to its plans for the Company’s oil and gas business through EPI, and including any new or pending acquisitions discussed herein, and those business activities and developments related to our newest M3, SATCO, EPI, CWR, RQTZ, TERRA, E-Views strategy and operations, and new acquisitions, including new or pending acquisitions related to signalization and lighting geared to the transportation industry. The amount of net losses and the time required for the Company to reach and maintain profitability are uncertain at this time. There is a likelihood that the Company will encounter difficulties and delays in connection with business subsidiary operations, including, but not limited to uncertainty as to development and the time and timing required for the Company’s plans to be fully implemented, governmental regulatory responses to the Company’s plans, fluctuating markets and corresponding spikes, or dips in our products demand, currency exchange rates between countries, acquisition and development pricing, related costs, expenses, offsets, increases, and adjustments. There can be no assurance that the Company will ever generate significant revenues or achieve profitability at all or on any substantial basis.

General Statement: Factors that may affect future results:

With the exception of historical information, the matters discussed in Management’s Discussion and Analysis or Plan of Operation contain forward looking statements under the 1995 Private Securities Litigation Reform Act that involve various risks and uncertainties. Typically, these statements are indicated by words such as “anticipates”, “expects”, “believes”, “plans”, “could”, and similar words and phrases. Factors that could cause the company’s actual results to differ materially from management’s projections, forecasts, estimates and expectations include but are not limited to the following:

– Inability of the company to secure additional financing.

– Unexpected economic changes in the United States.

– The imposition of new restrictions or regulations by government agencies that affect the Company’s business activities.

To the extent possible, the following discussion will highlight the Company’s business activities for the quarters ended September 30, 2010 and September 30, 2009.

Results of Operations

Nine months ended September 30, 2010 compared to the nine months ended September 30, 2009.

There was $1,564,849 in revenues generated from the Company’s sales activities in the nine months ended September 30, 2010 compared to no revenues in same period of 2009. Cost of goods sold in the nine months ended September 30, 2010 was $1,371,083 and $0 in the same period of 2009, producing gross profits of $193,766 for the first nine months of 2010 and $0 for the same period in 2009.

General administrative expenses were $2,478,075 in for the nine months ended September 30, 2010 compared to $1,211,693 for the nine months ended September 30, 2009. The increase in these expenses is due to the additional subsidiaries.

Following is a breakdown of general and administrative costs for this period versus a year ago:

Detail of general & administrative expenses:

	30-Sep-10		30-Sep-09

Advertising & promotion	$	17,114	$	49,507
Administration		163,573		33,680
Consulting		768,885		263,676
Investor incentives/commissions		300,733		51,000
Professional fees		393,283		265,018
Rent/Utilities		51,304		0
Salaries		575,019		0
Impairment expense		0		548,792
Misc.		208,164		0
Total	$	2,478,075	$	1,211,673

Promotional fees of $17,114 were incurred in stock promotional activities.

Consulting fees of $768,885 were incurred for business advisory services.

Professional fees of $393,283 were incurred in regards to management advisory, legal costs, and accounting, for new subsidiaries.

Investor incentive fees of $300,733 were incurred in regards to funding activities.

After deducting general and administrative expenses, the Company experienced a loss from operations of $2,746,626 for the nine months ended September 30, 2010 compared to a loss of $1,211,673 for the same period last year.

Interest expense for the nine months ended September 30, 2010 was $247,064 compared with $6,281 for the same period last year.

The Company incurred a net loss of $4,072,531 for the first nine months ended September 30, 2010 compared to a loss of $1,169,954 for Q2 2009.

Fully diluted loss per share was ($0.72) per share for nine months 2010 compared to a loss of ($3.38) per share for nine months 2009.

Professional fees increased approximately $590,582 to $855,600 for nine months 2010 from $265,018 for nine months 2009.

Net loss for nine months 2010 was $3,881,568 or ($0.72) per share compared to a loss of $577,387, or ($3.38) per share for nine months 2009.

Three months ended September 30, 2010 compared to the three months ended September 30, 2009.

There was $648,551 in revenues generated from the Company’s sales activities in the quarter ended September 30, 2010 compared to no revenues in same quarter of 2009. Cost of goods sold in the quarter ended September 30, 2010 was $586,620 and $0 in the same period of 2009, producing gross profits of $61,931 for the third quarter of 2010 and $0 for the same period in 2009.

General administrative expenses were $804.768 for the three months ended September 30, 2010 compared to $714,570 for the nine months ended September 30, 2009. The decrease in these expenses is due to cost cutting activities.

Discussion of Financial Condition: Liquidity and Capital Resources

At September 30, 2010 cash on hand was $36,577 as compared with $17,625 at December 31, 2009.

At September 30, 2010, the Company had working capital deficit of $7,406,245 compared to a working capital deficit of $3,041,776 at December 31, 2009. Working capital increased mainly as a result of adding subsidiaries.

Total assets at September 30, 2010 were $4,054,065 as compared to $3,959,666 at December 31, 2009.

The Company’s total stockholders’ deficit increased to $3,813,325 at September 30, 2010 from stockholders’ equity of $47,243 at December 31, 2009.

Item 3 – Quantitative and Qualitative Analysis of Market Risks

There are no material changes in the market risks faced by us from those reported in our Annual Report on Form 10-K for the year ended December 31, 2009 and for the quarters ended March 31, 2009, June 30, 2010, and September 30, 2010.

ITEM 4(T) – CONTROLS AND PROCEDURES

(a)	Evaluation of Disclosure and Procedures

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of September 30, 2010. This evaluation was carried out under the supervision and with the participation of our Principal Executive Officer and Principal Accounting Officer. Based upon that evaluation, our Principal Executive Officer and Principal Accounting Officer concluded that, as of September 30, 2010, that there are material weaknesses in our disclosure controls and procedures and they were not effective for the following reasons:

In connection with the preparation of the Original Report, we identified a deficiency in our disclosure controls and procedures related to the communications the appropriate personnel involved with our 2008 and 2009 audit. We are utilizing additional accounting consultants to assist us in improving our controls and procedures. We believe these measures will benefit us by reducing the likelihood of a similar event occurring in the future.

Subsequent to the filing of the Original report, we determined that we needed to restate the financial statements contained in the Original Report and Quarterly Report on Form 10-Q that we filed for the quarterly period ended September 30, 2009.

Due to our relatively small size and not having present operations, we do not have segregation of duties which is a deficiency in our disclosure controls. We do not presently have the resources to cure this deficiency.

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

All internal control systems, no matter how well designed, have inherent limitations and may not prevent or detect misstatements. Therefore, even those systems determined to be effective can only provide reasonable assurance with respect to financial reporting reliability and financial statement preparation and presentation. In addition, projections of any evaluation of effectiveness to future periods are subject to risk that controls become inadequate because of changes in conditions and that the degree of compliance with the policies or procedures may deteriorate.

(b)	Changes in Internal Controls over financial reporting

There have been no changes in our internal controls over financial reporting during our last fiscal quarter, which has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1 – LEGAL PROCEEDINGS

As of the date hereof, there are no material legal proceedings threatened against us. In the ordinary course of our business we may become subject to litigation regarding our products or our compliance with applicable laws, rules, and regulations.

In July 2010 we received a lawsuit notice on behalf of our SATCO subsidiary whereas Pelco Products, Inc. (“Pelco”) is seeking a judgment to collect amounts owed it from SATCO in the total aggregate amount of $26,229.03, and subsequent thereto a Default Journal Entry of Judgment was filed on September 3, 2010.

In May 2010 we received a lawsuit on behalf of our SATCO subsidiary whereas Targetti Poulsen USA Inc. (“Poulsen”) is seeking a judgment to collect amounts owed to Poulsen by SATCO. Southeast Underground Utilities Corp. (“SE Underground”) was also named on the lawsuit as SE Underground is a customer of SATCO and had failed to pay SATCO for materials ordered from Poulsen. Management is confident that this matter will be resolved ultimately in SATCO’s favor and since we do not believe we are at fault or liable, we intend to vigorously defend our position. On August 16th, 2010 a default and final judgment was awarded to Targetti Poulsen in the amount of $266,189.65. Due to the nature of this claim and Southeast Underground's blatant non-payment to SATCO for amounts owed, it is management's belief that the Company is not liable and is currently exploring all appeal opportunities and processes.

In August 2010 we received a lawsuit notice on behalf of our SATCO subsidiary whereas Bison Profab, Inc. (“BPI”) is seeking a judgment to collect amounts owed it from SATCO. On October 12, 2010 BPI has filed a motion for a No-Answer Default Judgment on SATCO and the Company for failure to answer in the amount of approximately $27,710.28. The Company believes that it is not liable, and intends to file for an appeal to remove it from the motion for judgment.

ITEM 1A. RISK FACTORS.

There have been no material changes to the risk factors disclosed in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2009, as updated by our subsequent filings on Form 10-Q (and otherwise) with the SEC.

ITEM 2 – UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Required information has been furnished in current Report(s) on Form 8-K filings and other reports, as amended, during the period covered by this Report and additionally as listed and following:

Please see information listed in the Part II, Item 5, under the sub heading Recent Sales of Unregistered Securities, contained in our Annual Report on Form 10-K, filed on April 15, 2010, in our first quarter report on Form 10-Q filed on May 24, 2010, in our second quarter report on Form 10-Q filed on August 20, 2010, in our Form 8-K filed on June 16, 2010, and in our Form 8-K filed June 17, 2010, incorporated herein by reference.

(*)(**) On August 25, 2010, by majority consent of the Board of Directors, the Company approved the following issuances of its restricted common stock, par value $0.001 per share, to the following person for and behalf of consideration as follows:

				Type of	Fair Market Value of
Name and Address (***)	Date	Share Amount		Consideration	Consideration
Seymour Flics (1)	8/25/2010		350,000	Working Capital	$	7,000.00
223 Birchwood Road				For the Company
Old Tappan, NJ 07675

(*) Issuances when approved, will be subject to such persons agreeing in writing to i) comply with applicable securities laws and regulations and make required disclosures; and ii) be solely and entirely responsible for their own personal, Federal, State, and or relevant single or multi jurisdictional income taxes, as applicable.

(**) $7,000 worth of common stock in the immediately preceding table used primarily in consideration of advances made for working capital requirements for the Company.

(1) The above named individual is not an affiliate, director, or officer of the Registrant.

(***) The shares of common stock are to be issued pursuant to an exemption from registration as provided by Section 4(2) of the Securities Act of 1933, as amended (the “1933 Act”). All such certificates representing the shares issued by the Company shall bear the standard 1933 Act restrictive legend restricting resale.

ITEM 3 – DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4 – (Removed and Reserved)

ITEM 5 – OTHER INFORMATION

Please see information listed under ITEM 9B, OTHER INFORMATION, contained in our Annual Report on Form 10-K, filed on April 15, 2010, ITEM 5-OTHER INFORMATION, contained in our first quarter report on Form 10-Q filed on May 24, 2010, in our second quarter report on Form 10-Q filed on August 20, 2010, incorporated herein by reference.

On October 1, 2010 EGPI Firecreek, Inc. the Company entered into a Definitive Purchase/Exchange Agreement with Terra Telecom, LLC. (“Terra").

Terra is considered recognized as a leading provider of state-of-the-art communication technologies and a premier Alcatel-Lucent partner. They currently serve various sized companies and organizations that use and deploy communications systems, sales, service, and training while consolidating and optimizing the end user experience. Its goal is to provide customers value and integrity in each of these opportunities. Since 1980, Terra has focused on delivering enterprise solutions while leading with voice services and offering full turn-key solutions that consist of voice, data, video and associated applications. Terra is believed to have developed into an industry leader in value creation for each of their clients and stakeholders. Terra’s enterprise business has experienced sales volume and revenue growth since January 2005 with year to year revenue growth presented to us averaging 46.6% over 2005, 2006 and 2007. In 2006 Terra relocated its company headquarters to a 25,000 square foot facility in Tulsa, Oklahoma. This facility provides Terra the space to continue growth and the ability to manage operations throughout the nation. Terra Telecom also works with the United Nations delivering Alcatel voice products to several countries and the Texas Dept. of Transportation, which will bring significant opportunities to EGPI Firecreek, Inc. through Terra’s various ITS/DOT opportunities in place with Alcatel products. Terra employs approximately 40 personnel at the present time.

For further information regarding Terra Telecom LLC please see our Current Report on Form 8-K filed on October 7, 2010, incorporated herein by reference.

The Company through its Energy Producers, Inc., and Chanwest Resources, LLC subsidiary units are presently in different stages of review and discussion, gathering data and information, and any available reports on other potential acquisitions in Texas, and other productive regions and areas in the U.S.

From time to time Management will examine oil and gas operations in other geographical areas for potential acquisition and joint venture development.

ITEM 6 – EXHIBITS

Exhibit No.		Description

31.1		Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (3)

32.1		Certification Pursuant to 18 U.S.C. SECTION 1350 (3)

SIGNATURE

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

Date: November 22, 2010

	EGPI FIRECREEK, INC.

	By:	/s/ Dennis Alexander
		Name Dennis Alexander
		Title: Chairman, CEO, CFO, and Director