RemSleep Holdings Inc. - Quarter Report: 2016 September (Form 10-Q)

Form 10-Q Quarterly Report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended September 30, 2016

Commission file number: 000-53450

REMSLEEP HOLDINGS, INC.

(Name of registrant as specified in its charter)

Nevada

47-5386867

(State or other jurisdiction of incorporation

or organization)

(I.R.S. Employer Identification No.)

722 50th Street, Des Moines, Iowa 50312

(Address of principal executive offices)(Zip Code)

(912) 590-6048

(Registrant’s telephone number, including area code)

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 X .

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 .

(Do not check if smaller reporting company)

Smaller reporting company X .

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

As of September 30, 2016, there were 173,940 shares of common stock outstanding.

TABLE OF CONTENTS


		Page No.
PART I. - FINANCIAL INFORMATION
Item 1.	Financial Statements.	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Plan of Operations.	11
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	14
Item 4	Controls and Procedures.	14
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings.	15
Item 1A.	Risk Factors.	15
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	15
Item 3.	Defaults Upon Senior Securities.	15
Item 4.	Mine Safety Disclosures	15
Item 5.	Other Information.	15
Item 6.	Exhibits.	15

PART I - FINANCIAL INFORMATION

These unaudited financial statements have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission. These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended December 31, 2015 as filed with the SEC on April 14, 2015. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of September 30, 2015 and the results of its operations and cash flows for the three month periods then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year.

ITEM 1. FINANCIAL STATEMENTS

REMSleep Holdinngs, Inc.

f/ka KAT Gold Holdings Corp.

CONDENSED BALANCE SHEETS

(UNAUDITED)


		September 30,		December 31,
ASSETS		2016		2015

CURRENT ASSETS:
Cash in Bank	$	-	$	108
Prepaid Expenses		5,000		5,000
TOTAL CURRENT ASSETS		5,000		5,108

PROPERTY AND EQUIPMENT - net		13,074		13,762

TOTAL ASSETS	$	18,074	$	18,870

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable	$	226,398	$	226,398

LONG TERM LIABILITIES - Shareholder Loan		113,211		87,219
TOTAL LIABILITIES		339,609		313,617

STOCKHOLDERS' EQUITY (DEFICIT)

Series A preferred stock, no par value, 5,000,000 shares authorized, 5,000,000 and 1,500,000 shares issued or outstanding at September 30, 2016 and December 31, 2015, respectively		-		-
Series B preferred stock, no par value, 5,000,000 shares authorized, 0 shares issued at September 30, 2016 and December 31, 2015.		-		-
Series C preferred stock, no par value, 5,000,000 shares authorized, 0 shares issued at September 30, 2016 and December 31, 2015.		-		-
Common stock, $.001 par value, 1,000,000,000 shares authorized, 61,212,077 and 61,012,077 shares issued or outstanding at September 30, 2016 and December 31, 2015, respectively		61,212		61,012
Common stock to be issued, $.001 par value, 4,500,000 shares at September 30, 2016 and, December 31, 2015, respectively		4		4
Additional paid in capital		(174,542)		(177,342)
Deficit		(208,209)		(178,421)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)		(321,535)		(294,747)

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$	18,074	$	18,870

The accompanying notes are an integral part of these financial statements

REMSleep Holdings, Inc.

f/k/a KAT Gold Holdings Corp.

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)


		For Three Months Ended				For Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
EXPENSES:
Accounting and legal	$	-	$	-	$	19,406	$	45,411
Office and other expenses		12		-		2,458		1,907
Officer compensation		-		-		-		15,000
Public company costs		-		-		7,236		10,000
Depreciation		229		230		688		688

Total expenses		241		230		29,788		73,006

Loss from operations		(241)		(230)		(29,788)		(73,006)

Loss before income taxes		(241)		(230)		(29,788)		(73,006)

Provision for income taxes		-		-		-		-

NET LOSS	$	(241)	$	(230)	$	(29,788)	$	(73,006)

Basic and fully diluted net loss per share	$	(0.00)	$	(0.00)	$	(0.09)	$	(0.42)

Weighted average common shares outstanding		373,940		173,940		335,254		173,940

The accompanying notes are an integral part of these financial statements

REMSleep Holdings, Inc.

f/k/a/ KAT Gold Holdings Corp.

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)


		For Nine Months Ended
		September 30,
		2016		2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(29,788)	$	(73,006)
Adjustments to reconcile net loss to net cash (used in) operations:
Depreciation		688		688
NET CASH PROVIDED BY OPERATING ACTIVITIES		(29,100)		(72,318)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment		-		(10,331)
NET CASH USED BY INVESTING ACTIVITIES		-		(10,331)

CASH FLOWS FROM FINANCING ACTIVITIES:
Stock issued as compensation		3,000		-
Shareholder loan		25,992		82,649
NET CASH PROVIDED BY FINANCING ACTIVITIES		28,992		82,649

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(108)		-

CASH AND CASH EQUIVALENTS,
BEGINNING OF THE YEAR		108		-

END OF THE YEAR	$	-	$	-

The accompanying notes are an integral part of these financial statements

REMSleep Holdings, Inc.

f/k/a KAT GOLD HOLDINGS CORP.

NOTES TO CONDENSED UNAUDITED FINANCIAL STATEMENTS

For the Period Ended September 30, 2016

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business Activity

REMSleep Holdings, Inc., f/k/a/ Kat Gold Holdings Corp. (the “Company”) was incorporated in the State of Nevada on June 6, 2007. Following its acquisition of Handcamp on June 4, 2010, a gold property located in the Province of Newfoundland and Labrador, Canada (“Handcamp”), the Company changed its business model to that of a mineral acquisition, exploration and development company focused primarily on gold properties. On August 26, 2010, the Company’s name was changed from Bella Viaggio, Inc. to Kat Gold Holdings corp. As of this annual report, the Company has not generated any revenues but has incurred expenses related to the drilling and exploration of Handcamp. On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea.

The Company has not yet earned any revenue from operations.

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a December 31 fiscal year end.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Cash and Cash Equivalents

For purposes of the Statements of Cash Flows, the Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents.

The Company reports comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the consolidated financial statements.

Long-Lived Assets

The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is considered to be impaired and is written down to fair market value, which is determined based on either discounted future cash flows or appraised values. The company adopted the statement on inception. No impairments of these types of assets were recognized during the period ended September 30, 2016.

Risk and Uncertainties

As of January 5, 2015, the Company is subject to risks common to manufacturing and health product providers.

REMSleep Holdings, Inc.

f/k/a KAT GOLD HOLDINGS CORP.

NOTES TO CONDENSED UNAUDITED FINANCIAL STATEMENTS

For the Period Ended September 30, 2016

Advertising Costs

Advertising costs are expensed as incurred. The Company does not incur any direct-response advertising costs.

Stock-Based Compensation

The company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about stock based compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.

Fair Value for Financial Assets and Financial Liabilities

The company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification ("paragraph 820-10-35-37") to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.

The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:

Level 1: Quoted market prices available in active markets for identical assets and liabilities as of the reporting date.

Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3: Pricing inputs that are generally observable inputs and not corroborated by the market data.

The carrying amounts of the company's financial assets and liabilities, such as cash, accounts receivable, rent deposit, accounts payable, customer deposits and notes payable approximate their fair values because of the short maturity of these instruments.

There were no assets or liabilities measured at fair value on a nonrecurring basis during the period ended September 30, 2016.

Fair Value of Financial Statements

The Company’s financial instruments consist of cash and security deposits. The carrying amount of these financial instruments approximates fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Loss Per Share

Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of September 30, 2016 and December 31, 2015.

REMSleep Holdings, Inc.

f/k/a KAT GOLD HOLDINGS CORP.

NOTES TO CONDENSED UNAUDITED FINANCIAL STATEMENTS

For the Period Ended September 30, 2016

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax basic of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. It is the company's policy to classify interest and penalties on income taxes as interest expense or penalties expense. As of September 30, 2016 there have been no interest or penalties incurred on income taxes.

Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements will cause a material impact on its financial condition or the results of its operations.

NOTE 2: DUE TO RELATED PARTY

Due to related parties were $113,211 as of September 30, 2016 and $87,219 as of December 31, 2015. The funds borrowed from the Company's stockholder were to fund the Company's daily operations.

NOTE 3: CAPITAL STOCK

The company is currently authorized to issue 5,000,000 Class A preferred shares with $0.001 per value with 1:25 voting rights.

On February 25, 2016 the company issued 2 million Class A preferred shares. On April 26, 2016 the company issued 1.5 million Class A preferred shares. As of September 30, 2016, there were 5 million class A preferred shares issued and outstanding.

On February 23, 2016, the company issued as compensation for services provided a total of 200,000 common shares with a fair value of $3,000 to a third party. The fair value of the shares was based on the price quoted on the OTC bulletin board on the grant date.

On March 26, 2015, a 1:2,000 reverse split was completed.

NOTE 4 LOSS PER SHARE

Loss per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Basic and diluted loss per share was ($0.00) for the three months and nine months ended September 30, 2016 and 2015.

NOTE 5 SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental disclosures of cash flow information for the quarter and nine months ended September 30, 2016 and 2015 are summarized as follows:

Cash paid during the periods for interest and income taxes:


	2016		2015
Income Taxes	$	--	$	--
Interest	$	--	$	--

REMSleep Holdings, Inc.

f/k/a KAT GOLD HOLDINGS CORP.

NOTES TO CONDENSED UNAUDITED FINANCIAL STATEMENTS

For the Period Ended September 30, 2016

NOTE 6 COMMITMENTS AND CONTINGENCIES

Certain of the Company’s officers and directors are involved in other related business activities and most likely will become involved in other business activities in the future.

NOTE 7 RELATED PARTY TRANSACTIONS

The Company has received support from a party related through common ownership and directorship. All of the expenses herein have been borne by this individual on behalf of the Company and the direct vendor payments are treated as capital contributions and shareholder loans in the accompanying financial statements.

NOTE 8 GOING CONCERN AND UNCERTAINTY

The Company has suffered recurring losses from operations since inception. In addition, the Company has yet to generate an internal cash flow from its business operations. These factors raise substantial doubt as to the ability of the Company to continue as a going concern.

NOTE 9 SUBSEQUENT EVENTS

The Company has evaluated subsequent events from September 30, 2016 through February 22, 2017 the date the financial statements were available to be issued and determined that there have been no subsequent events after September 30, 2016 for which disclosure is required

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATIONS.

Forward-looking Statements

We and our representatives may from time to time make written or oral statements that are “forward-looking,” including statements contained in this quarterly report and other filings with the SEC, reports to our stockholders and news releases. All statements that express expectations, estimates, forecasts or projections are forward-looking statements. In addition, other written or oral statements which constitute forward-looking statements may be made by us or on our behalf. Words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “project,” “forecast,” “may,” “should,” variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in or suggested by such forward-looking statements. We undertake no obligation to update or revise any of the forward-looking statements after the date of this quarterly report to conform forward-looking statements to actual results. Important factors on which such statements are based are assumptions concerning uncertainties, including but not limited to, uncertainties associated with the following:

Inadequate capital and barriers to raising the additional capital or to obtaining the financing needed to implement our business plans;

Our failure to earn revenues or profits;

Inadequate capital to continue business;

Volatility or decline of our stock price;

Potential fluctuation in quarterly results;

Rapid and significant changes in markets;

Litigation with or legal claims and allegations by outside parties; and

Insufficient revenues to cover operating costs.

The following discussion should be read in conjunction with the financial statements and the notes thereto which are included in this quarterly report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ substantially from those anticipated in any forward-looking statements included in this discussion as a result of various factors.

Overview

On January 5, 2015 the name of the Company was changed to REMSleep Holdings, Inc. and the business model was changed to reflect the new direction of the Company; to develop and distribute products to help people affected by sleep apnea.

REMSleep Holdings, Inc. has a patent pending new, innovative sleep apnea product that will meet multiple market needs and be able to reach a large percentage of patients worldwide. REMSleep was founded by two principals with over 35 years of sleep-industry experience, including working at some of the pioneering companies. They have substantial direct knowledge of all current continuous positive airway pressure (CPAP) equipment on the market and what it is lacking. This expertise led to the invention of the DeltaWave CPAP interface.

The goal of RemSleep is to achieve optimum compliance and comfort for CPAP patients. Years of research and development have led to the revolutionary DeltaWave CPAP interface, a design that addresses the stubborn issues that continue to affect a patient’s ability to comply with treatment. The DeltaWave interface does not disrupt normal breathing mechanics, is not claustrophobic, causes zero work of breathing (WOB), minimizes or eliminates drying of the sinuses, uses less driving pressure, and allows users to feel safe and secure while sleeping.

RemSleep is confident that DeltaWave’s unique design will provide patients with a more compliant CPAP interface that provides improved comfort, ease of use, and encourages deep restful sleep. The market for sleep treatment and equipment was $7.96 billion in 2011 and will reach a projected $19.72 billion by 2017, with North America accounting for a majority of the market. More than 8 million CPAP interfaces are sold annually in the U.S., with another 2.5 million globally. There are also an estimated 80 million people with undiagnosed sleep apnea.

The DeltaWave will be launched into the U.S. market first, while CE marking is obtained. REMSleep has already begun discussions with potential industry distributor partners in the U.S., and has received strong interest from a potential distribution partner in Germany that has sales channels/distribution partners throughout the EU. They have no current product like the REMSleep DeltaWave and are awaiting samples for evaluation. REMSleep has also been in contact with two internet retailers. One sells directly to patients online (the largest internet reseller of sleep products), and the other is working with trucking firms (selling direct to drivers).

REMSleep’s founders have extensive experience in the sleep industry, and have direct experience in starting companies and introducing unique products. COB Russell Bird, for example, found great success with start-ups Medical Gases Australia and Medical Industries America (both started out of garages before being multimillion-dollar ventures). Tom Wood helped found Innomed Technologies, and has product-development experience developing highly successful products in the industry. The two founders have worked in collaboration for more than 10 years and are now focused on bringing to market the best-in-class DeltaWave CPAP interface, with the goal of becoming a leading product manufacturer and distributor in this fast-growing global market. The owners have invested $100,000 in R&D for the DeltaWave, and are seeking an investment of $1 million for the full launch.

Research and Development

We are currently engaged in the research and development of new products with the intent of launching them in the future. There is no guarantee that we will be able to successfully develop new products or bring any new products to market.

Our website is: http://www.remsleeptech.com/.

Cash Requirements

We operate with virtually no capital. We have no long term debt and have been able to meet our past financial obligations, including operational expenses, exploration expenses and acquisition costs, on a current basis.

Going Concern

As of September 30, 2016, there is substantial doubt regarding our ability to continue as a going concern as we have not generated sufficient cash flow to fund our proposed business.

We have suffered recurring losses from operations since our inception. In addition, we have yet to generate an internal cash flow from our business operations or successfully raised the financing required to develop our proposed business. As a result of these and other factors, our independent auditor has expressed substantial doubt about our ability to continue as a going concern. Our future success and viability, therefore, are dependent upon our ability to generate capital financing. The failure to generate sufficient revenues or raise additional capital may have a material and adverse effect upon us and our shareholders.

Management’s plans with regard to these matters encompass the following actions: (i) obtaining funding from new investors to alleviate our working capital deficiency, and (ii) implementing a plan to generate sales. Our continued existence is dependent upon our ability to resolve our liquidity problems and increase profitability in our current business operations. However, the outcome of management’s plans cannot be ascertained with any degree of certainty. Our financial statements do not include any adjustments that might result from the outcome of these risks and uncertainties.

Liquidity and Capital Resources

We had a cash balance of $0 as of the date of September 30, 2016.

Cash flow from operations.

For the nine months ended September 30, 2016, the cash flows from operating activities were ($29,100) compared to the same period in 2015 of ($72,318).

Cash Flows from Investing

For the nine months ended September 30, 2016, the cash flows from investing activities were ($0) compared to the same period in 2015 of ($10,331).

Cash Flows from Financing

For the nine months ended September 30, 2016, the cash flows from financing activities were ($28,992) compared to the same period in 2015 of ($82,649).

Off Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Critical Accounting Policies

We prepare financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”), which requires us to make estimates and assumptions that affect the amounts reported in our combined and consolidated financial statements and related notes. We periodically evaluate these estimates and assumptions based on the most recently available information, our own historical experience and various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. Some of our accounting policies require higher degrees of judgment than others in their application. We believe the following accounting policies involve the most significant judgments and estimates used in the preparation of our financial statements.

Business Activities. We have not yet earned any revenue from operations. Accordingly, our activities have been accounted for as those of a “Development Stage Enterprise” as set forth in Financial Accounting Standards Board Statement No. 7, “Accounting and Reporting for Development Stage Enterprises” (“SFAS No. 7”). Among the disclosures required by SFAS No. 7 are that our financial statements be identified as those of a development stage operation, and that the statements of operations, shareholders’ equity and cash flows disclose activity since the date of our inception.

Basis of Presentation. Our financial statements are presented on the accrual basis of accounting in accordance with GAAP, whereby revenues are recognized in the period earned and expenses when incurred. We follow SFAS No. 7 in preparing our financial statements.

Management’s Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Comprehensive Income (Loss). We adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 130, “Reporting Comprehensive Income,” which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to us during the period covered in the financial statements.

Long-Lived Assets. In accordance with SFAS No. 144, we review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, including those noted above, we compare the assets’ carrying amounts against the estimated undiscounted cash flows to be generated by those assets over their estimated useful lives. If the carrying amounts are greater than the undiscounted cash flows, the fair values of those assets are estimated by discounting the projected cash flows. Any excess of the carrying amounts over the fair values are recorded as impairments in that fiscal period.

Statement of Cash Flows. For purposes of the statement of cash flows, we consider all highly liquid investments (i.e., investments which, when purchased, have original maturities of three months or less) to be cash equivalents.

Fair Value of Financial Instruments

Our financial instruments consist of cash and cash equivalents. The fair value of cash and cash equivalents approximates the recorded amounts because of the liquidity and short-term nature of these items.

Recent Accounting Pronouncements

We have reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe that any future adoption of such pronouncements will have a material impact on our financial condition or the results of our operations.

Results of Operations

The three months ended September 30, 2016 compared to the three months ended September 30, 2015

For the three months ended September 30, 2016 compared to the three months ended September 30, 2015, total revenues were $0 and $0, respectively; and net losses were $241 and $230 respectively. The net losses were attributable to operating expenses and primarily to impairment charges.

For the nine months ended September 30, 2016 compared to the three months ended September 30, 2015, total revenues were $0 and $0, respectively; and net losses were $29,788 and $73,006 respectively. The net losses were attributable to operating expenses and primarily to impairment charges.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Each of our principal executive and principal financial officer has evaluated the effectiveness of our disclosure controls and procedures, as defined in Rules 13a - 15(e) and 15d - 15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as of the end of the period covered by this quarterly report. Based on their evaluation, each such person concluded that our disclosure controls and procedures were not effective due to material weaknesses in our internal control over financial reporting that applied as of December 31, 2011 and continued to apply as of September 30, 2015. Our management intends, during the 2016 fiscal year, to design and implement processes and procedures that will provide reasonable assurance regarding the reliability of our financial reporting and preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

Changes in Internal Control over Financial Reporting. Our management has evaluated whether any change in our internal control over financial reporting occurred during the last fiscal quarter. Based on that evaluation, management concluded that there has been no change in our internal control over financial reporting during the relevant period that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

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

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

(a) Documents furnished as exhibits hereto:


Exhibit No.	Description

31.1.	Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Label Linkbase Document
101.PRE	XBRL Taxonomy Presentation Linkbase Document

SIGNATURES

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.



	REMSLEEP HOLDINGS CORP.


/s/ Tom Wood	Acting Principal Executive Officer and Director	February 22, 2017
Tom Wood

/s/ Tom Wood	Principal Financial and Director	February 22, 2017
Tom Wood