As Filed with the Securities and Exchange Commission on ~~November~~May 2223, ~~2021~~2022

File No: 000-55235

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

FOR THE QUARTERLY PERIOD ENDING ~~September~~MARCH 3031, ~~2021~~2022

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 000-55235

ABCO ENERGY, INC.

(Name of registrant as specified in its Charter)

Nevada	46-5342309
(State of Incorporation)	(IRS Employer Identification No.)

2505 N Alvernon Way, Tucson, AZ	85712
2505 N. Alvernon Way, Tucson, AZ	85712
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (520) -777-0511

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
COMMON STOCK	ABCE	OTCPINK

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definition of “law accelerated filed,” “accelerated filed,” “Smaller reporting company,” and “emerging growth company” in Rule 12b of the Exchange Act.

Large accelerated filer ☐		Accelerated filer ☐

Non-accelerated filer ☐		Smaller Reporting Company ☒

Emerging growth company ☒

If an emerging growth company, indicate by check mark (if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act subsequent to the distribution of securities under a plan confirmed by the court. Yes ☐ No ☒ N/A

APPLICABLE ONLY TO CORPORATE ISSUERS:

As of ~~November~~ 21May 23, ~~2021~~2022, we had 70260,~~462~~515,~~489~~ 166 shares of common stock issued and outstanding.

EXPLANATORY NOTE

The Purpose of this Explanatory Note is to explain that we labeled each page of the Financial Statements, where appropriate, for [i] the three [3] months ended March 31, 2022 and 2021 as NOT REVIEWED by the Company's auditors, and [ii] for the fiscal year ended December 31, 2021 were labeled as UNAUDITED.

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION Item 1. Financial Statements 4 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 2421 Item 3. Quantitative and Qualitative Disclosures about Market Risk 2723 Item 4. Controls and Procedures 2723 PART II. OTHER INFORMATION Item 1. Legal Proceedings 2824 Item 1A. Risk Factors 2824 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 2824 Item 3. Defaults upon Senior Securities 2824 Item 4. Mine Safety Disclosures 2824 Item 5. Other Information 2824 Item 6. Exhibits 2925 Signatures 3026

PART 1 – FINANCIAL INFORMATION

Item 1. Financial Statements

ABCO ENERGY, INC.

Consolidated Balance Sheets: As of September 30, 2021 (Unaudited), and as of December 31, 2020	5
Consolidated Statements of Operations: For the Three and Nine Months Ended September 30, 2021 and 2020 (Unaudited)	6
Consolidated Statement of Changes in Shareholders Equity: For the Three and Nine Months Ended September 30, 2021 and 2020 (Unaudited)	7-8
Consolidated Statements of Cash Flows: For the Nine Months Ended September 30, 2021 and 2020 (Unaudited)	9
Notes to the Consolidated Financial Statements (Unaudited)	10

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2022 Not Reviewed

AND FOR THE YEAR ENDED DECEMBER 31, 2021 Unaudited

Consolidated Balance Sheets: As of March 31, 2022 (Unaudited), Not Reviewed and as of December 31, 2021 (Unaudited)	5

Consolidated Statements of Operations: For the Three Months Ended March 31, 2022 and March 31, 2021 (Unaudited) Not Reviewed	6

Consolidated Statement of Shareholders Equity for the Three Months Ended March 31, 2022 (Unaudited) and for the Three Months Ended March 31, 2021 (Unaudited) Not Reviewed	7

Consolidated Statements of Cash Flows: For the Three Months Ended March 31, 2022 and March 31, 2021 (Unaudited) Not Reviewed	8

Notes to the Consolidated Financial Statements (Unaudited) Not Reviewed	9

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ABCO ENERGY, INC.

CONSOLIDATED BALANCE SHEETS

	September 30, 2021 (Unaudited)			December 31, 2020 Audited
ASSETS	March 31, 2022 Unaudited and Not Reviewed			December 31, 2021 Unaudited
ASSETS
Current Assets
Cash	$	310,~~532~~811		$	5431,~~268~~414
Accounts receivable on completed projects		4068,~~018~~012			4333,~~221~~772
Costs and estimated earnings on contracts in progress		~~232~~295,~~423~~840			~~319~~298,~~001~~121
Total Current Assets		~~275~~374,~~973~~663			~~416~~363,~~490~~307
Fixed assets – net of accumulated depreciation		374,967			393,887
Fixed Assets
Investment in long-term leases		3,759			3,995
Fixed assets – net of accumulated depreciation		376,755			378,891
Total Assets	$	654,699		$	814,372
Other Assets
Investment in long-term leases		3,580			3,641
Total Other Assets		3,580			3,641
Total Assets	$	754,998		$	745,839
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses	$	~~608~~509,~~581~~617		$	~~526~~521,~~981~~819
Short term notes payable		155,979			~~347~~155,~~459~~979
Excess billing on contracts in progress		~~229~~303,~~713~~061			~~558~~268,~~907~~435
Notes payable to related parties		~~285~~596,~~816~~168			~~311~~533,~~340~~244
Debentures payable		205,193			153,817
Convertible debentures and derivative liability net of OID		407,097			233,810
Current portion of long-term debt		4139,~~896~~336			2740,~~702~~808
Total Current Liabilities		12,~~527~~011,~~178~~258			1,~~926~~754,~~206~~095
Long term debt, net of current portion		~~505~~486,~~176~~441			~~472~~495,~~293~~525
Total Liabilities		2,~~032~~497,~~354~~699			2,~~398~~249,~~499~~620
Commitments and contingencies		-			-
Stockholders’ Deficit:
Preferred stock, 100,000,000 shares authorized, $0.001 par value, and 27,800,000 shares issued and outstanding at September 30, 2021 and 30,000,000 at December 31, 2020		27,800			30,000
Preferred stock, 100,000,000 shares authorized, $0.001 par value, and 30,000,000 shares issued and outstanding at March 31, 2022 and 30,000,000 at December 31, 2021		12,800			12,800
Common stock 2,000,000,000 shares authorized, $0.001 value, and 70,462,489 outstanding at September 30, 2021 and 15,702,037 outstanding at December 31, 2020, respectively.		70,462			15,702
Common stock 5,000,000,000 shares authorized, $0.001 value, and 260,515,166 issued and outstanding at March 31, 2022 and 255,308,636 outstanding at December 31, 2021, respectively.		260,515			255,309
Additional paid-in capital		56,~~819~~019,~~645~~563			5,~~456~~982,~~438~~752
Accumulated deficit		(78,~~295~~035,~~562~~579	)		(7,~~086~~754,~~267~~642	)
Total Stockholders’ Deficit		(1,~~377~~742,~~655~~701	)		(1,~~584~~503,~~127~~781	)
Total Liabilities and Stockholders’ Deficit	$	~~654~~754,~~699~~998		$	~~814~~745,~~372~~839

See accompanying notes to the unaudited consolidated financial statements.

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ABCO ENERGY, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~SEPTEBER~~MARCH 3031, ~~2021~~ 2022 AND ~~2020~~2021

(UNAUDITED) and Not Reviewed

	For the Three Months Ended						For the Nine Months Ended
	March 31, 2022 Unaudited Not Reviewed			March 31, 2021 Unaudited
	Sept. 30, 2021			Sept. 30, 2020			Sept. 30, 2021			Sept. 30, 2020
Revenues	$	293,233		$	335,726
Revenues	$	229,829		$	246,102		$	998,228		$	768,133
Cost of Sales		195,343			294,142
Cost of Sales		165,734			281,419			619,173			715,739
Gross Profit		97,890			41,584
Gross Profit		64,095			(35,317	)		379,055			52,394
Operating Expenses:
Operating Expenses:
Payroll		42,193			60,784
Payroll		48,327			39,730			157,457			151,341
Advertising		8,485
Share based compensation		21,300			-			157,621			14,500
Consulting expense		15,000			4,000
Consulting expense		-			25,019			36,000			45,028
Corporate expense		15,071			29,399
Corporate expense		14,533			13,998			38,653			32,449
Insurance		21,374			9,290
Insurance		22,429			40,429			38,693			60,239
Professional fees		26,377			9,905
Professional fees		-			45,273			34,600			92,564
Other selling and administrative expenses		54,827			52,786
Rent		6,040			8,311			6,040			25,536
Total operating expense		183,327			166,164
Other selling and administrative expenses		95,551			17,099			228,527			233,612
Net income (Loss) from operations		(85,437	)		(124,580	)
Total operating expense		208,180			189,859			697,591			655,269
Other expenses
Net income (Loss) from operations		(144,085	)		(225,176	)		(318,536	)		(602,875	)
Interest expense		(20,199	)		(13,044	)
Other Income (Expenses)
Amortization of OID		(5,061	)
Interest on notes payable		(16,027	)		(20,975	)		(47,183	)		(37,657	)
Stock based compensation					(60,000	)
Loss on note issuance derivatives		-			(25,836	)		-			-
Derivative valuation gain or (Loss)		(135,879	)		(49,623	)
Change in Derivative Gain (Loss)		-			(157,575	)		-			(157,575	)
Derivative Finance fees		(34,361	)
Derivative amortization - interest expense		-			1,605			(49,623	)		(1,055	)
Gain (Loss) on extinguishment of debt					153,546
Gain (Loss) on extinguishment of debt		-			-			206,047			-
Total other income (expense)		(195,500	)		30,879
Total other income (expenses)		(16,027	)		(202,781	)		109,241			(196,287	)
Net income (Loss) before provision for income taxes		(280,937	)		(93,701	)
Net income (loss)	$	(160,112	)	$	(427,957	)	$	(209,295	)	$	(799,162	)
Provision for income tax		-			-
Net income (loss) Per Share (Basic and Fully Diluted)	$	(.01	)	$	(.01	)	$	(.01	)	$	(.08	)
Net income (loss)	$	(280,937	)	$	(93,701	)
Weighted average number of common shares used in the calculation		43,082,263			175,754			55,684,597			221,232
Net income (loss) Per Share (Basic and Fully Diluted)	$	(0.001	)	$	(0.004	)
Weighted average number of common shares used in the calculation		257,911,901			22,291,584

See accompanying notes to the unaudited consolidated financial statements.

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ABCO ENERGY, INC.

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDER’S EQUITY

FOR THE THREE MONTHS ENDED MARCH 31, 2022 (UNAUDITED)

~~THREE~~ AND ~~NINE~~FOR THE THREE MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, 2021 (UNAUDITED)

	Common Stock
	Shares		Amount		Preferred Stock			Additional Paid in Capital			Accumulated Deficit			Total Stockholders’ Deficit
Balance at January 1, 2021		15,702,037	$	15,702	$	30,000		$	5,456,438		$	(7,086,267	)	$	(1,584,127	)
Common shares issued for conversion of convertible debenture notes - net of expenses		1,747,753		1,748		-			33,906			-			35,654
Common Shares issued for warrants net of expenses		6,319,930		6,320		-			53,404			-			59,724
Restricted shares issued for insider compensation		5,000,000		5,000		-			55,000			-			60,000
Rounding from transfer agent for reverse split		111,410		111		-			(111	)		-			-
Shares issued for note payments		5,360,536		5,360		-			67,330			-			72,690
Shares issued for warrants		5,545,039		5,545		-			39,231			-			44,776
Shares issued for reserve and commitment fees on debt issue		1,120,000		1,120		-			66,080			-			67,200
Net loss for the six months ended June 30, 2021		-		-		-			-			(49,183	)		(49,183	)
Balance at June 30, 2021		40,906,705	$	40,906	$	30,000		$	5,771,278		$	(7,135,450	)	$	(1,293,266	)
Shares issued to insiders		22,000,000		22,000		(2,200	)		-						19,800
Conversions of debt for note payments		4,773,733		4,774		-			20,649						25,423
Conversions of debt for note payments - Other		1,282,051		1,282					23,718						25,000
Shares issued to insiders and consultants		1,500,000		1,500					4,000						5,500
Net loss for the three months ended September 30, 2021												(160,112	)		(160,112	)
Balances at September 30, 2021		70,462,489		70,462		27,800			5,819,645			(7,295,562	)	$	(1,377,655	)

THREE MONTHS ENDED MARCH 31, 2022 Not Reviewed

	Common Stock
	Shares		Amount $0.001 Par		Preferred Stock		Additional Paid in Capital		Accumulated Deficit			Total Stockholders’ Deficit
Balance at January 1, 2022		255,308,636	$	255,309	$	12,,800	$	5,982,752	$	(7,754,642	)	$	(1,503,781	)
Common Shares issued for warrants net of expenses		5,206,530		5,206				36,811					42,017
Net loss for the three months ended March 31, 2022										(280,937	)		(280,937	)
Balance at March 31, 2022		260,515,166		260,515		12,800		6,019,563		(8,035,579	)		(1,742,701	)

THREE MONTHS ENDED MARCH 31, 2021 Not Reviewed

	Common Stock
	Shares		Amount $0.001 Par		Preferred Stock		Additional Paid in Capital			Accumulated Deficit			Total Stockholders’ Deficit
Balance at January 1, 2021		15,702,037	$	15,702	$	30,000	$	5,456,438		$	(7,086,267	)	$	(1,584,127	)
Common shares issued for conversion of convertible debenture notes - net of expenses		1,747,753		1,748				33,906						35,654
Common Shares issued for warrants net of expenses		6,319,930		6,320				57,404						63,724
Restricted shares issued for insider compensation		5,000,000		5,000				55,000						60,000
Rounding from transfer agent for reverse split		111,410		111				(111	)					-
Net loss for the three months ended March 31, 2021											(93,701	)		(93,701	)
Balance at March 31, 2021		28,881,130	$	28,881	$	30,000	$	5,602,637		$	(7,179,968	)	$	(1,518,450	)

See accompanying notes to the unaudited consolidated financial statements.

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THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020

	Common Stock
	Shares		Amount		Preferred Stock		Additional Paid in Capital		Accumulated Deficit			Total Stockholders’ Deficit
Balance at January 1, 2020		885,829	$	886	$	30,000	$	5,036,798	$	(6,561,509	)	$	(1,493,825	)
Common shares issued for conversion of convertible debenture notes - net of expenses		2,675,531		2,676		-		87,945		-			90,621
Restricted Shares issued for insider compensation		29,412		29		-		14,471		-			14,500
Common shares issued for conversion of convertible debenture notes – net of expenses		2,553,553		2553				43,507					46,060
Derivative changes to paid in capital								55,741					55,741
Net loss for the six months ended June 30, 2020										(371,205	)		(371,205	)
Balance at June 30, 2020		6,144,325		6,144		30,000		5,238,462		(6,932,714	)		(1,658,108	)
Shares issued for compensation		5,000,000		5,000		-		9,500					14,500
Net (loss) for the three months ended September 30, 2020		-		-		-		-		(799,162	)		(799,162	)
Balance at September 30, 2020		8,947,703	$	8,948	$	30,000	$	5,247,962	$	(7,360,670	)	$	(2,073,760	)

See accompanying notes to the unaudited consolidated financial statements.

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ABCO ENERGY, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE ~~NINE~~THREE MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2021,~~2022 AND ~~2020~~2021

(UNAUDITED) and Not Reviewed

	Sept. 30, 2021			Sept. 30, 2020
	March 31, 2022 Unaudited and Not Reviewed			March 31, 2021 Unaudited Not Reviewed
Cash Flows from Operating Activities:
Net income (loss)	$	(~~209~~280,~~295~~937	)	$	(~~799~~93,~~162~~701	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		164,~~841~~942			65,~~593~~967
Change in derivative liability					45,972
Amortization of original issue discounts		5,061			-
Shares issued to officers and consultants for services		~~(157,621~~-	)		1460,~~500~~000
Gain on extinguishment of debt		206,047			-
Change in amortizable debt discount		-			(20,600	)
Finance fees on derivatives		(49,623	)		1,055
Change in derivative Gain or (Loss)		135,879			-
Finance fees on derivatives		(34,361	)
Changes in operating assets and liabilities
Changes in Accounts receivable		89(31,~~781~~959	)		~~432~~180,~~391~~353
Change in amortizable OID		(20,873	)		57,348
Billings in excess of costs on incomplete projects		34,626			(379,418	)
Billings in excess of costs on incomplete projects		(329,194	)		118,349
Accounts payable and accrued expenses		(12,202	)		150,293
Accounts payable and accrued expenses		81,600			6,861
Net cash used in operating activities		(178,951	)		(97,106	)
Net cash used in operating activities		(372,337	)		(116,093	)
Cash flows from investing activities
Change in security deposits		2,079			2,500
Purchase of equipment		(2,806	)
Sales of equipment					~~(12~~1,~~770~~400	)
Proceeds from investments in long term leases		~~236~~61			~~141~~180
Net cash provided by (used for) investing activities		(2,~~315~~745	)		~~(10~~1,~~129~~580	)
Cash Flows from Financing Activities:
Proceeds from sale of common stock – net of expenses		~~396~~42,~~861~~017			~~237~~99,~~912~~378
Proceeds from convertible notes and conversions		7238,~~249~~750			~~(73~~77,~~058~~850	)
Proceeds from financial institution loans		20,103			(142,071	)
Proceeds (payments) for project supply lenders		(7,653	)		(60,989	)
Payments on short term debt		(191,480	)		-
Proceeds of related party notes payable		62,924			2,663
Proceeds (payments) on related party notes payable		(25,524	)		74,700
Increase in loans from material suppliers – net of payments		25,055			(8,391	)
Increase in loans from material lenders		-			(206,993	)
Net cash provided by financing activities		161,093			110,511
Proceeds (payments) from long term debt		47,077			259,756
Net increase (decrease) in cash		(20,603	)		14,985
Net cash provided by financing activities		319,286			150,246
Cash, beginning of period		31,414			54,268
Net increase (decrease) in cash		(50,736	)		24,024
Cash, end of period	$	10,811		$	69,253
Cash, beginning of period		54,268			12,620
Cash, end of period	$	3,532		$	36,644

Supplemental disclosures of cash flow information:

Cash paid for interest $ 47,183 $ 16,682

Cash paid for interest		$	20,199			$	13,044
Shares issued for insider compensation			-				60,000

See accompanying notes to the unaudited consolidated financial statements.

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ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED and Not Reviewed

Note 1 – Overview and Description of the Company

The Company is in the Photo Voltaic (PV) solar systems industry, the LED and energy efficient commercial lighting business and is an electrical product and services supplier. In 2018 ABCO entered the HVAC business with the acquisition of a small company’s assets and qualifying license. The Company plans to build out a network of operations in major cities in the USA to establish a national base of PV, HVAC, lighting and electrical service operations centers. This combination of services, solar and electric, provides the Company with a solid base in the standard electrical services business and a solid base in the growth markets of solar systems industry.

ABCO Energy, Inc. was organized on July 29, 2004 and operated until July 1, 2011 as Energy Conservation Technologies, Inc. (ENYC). On July 1, 2011 ENYC entered into a share exchange agreement (SEA) with ABCO Energy, Inc. (“Company”) and acquired all the assets of ABCO. ENYC changed its name to ABCO Energy, Inc. on October 31, 2011. As a result of the SEA, the outstanding shares of ENYC as of June 30, 2011 were restated in a one for twenty three (1 for 23) reverse stock split prior to the exchange to approximately 9% of the post-exchange outstanding common shares of the Company.

On December 13, 2020, the Board of Directors of the Company approved a reverse stock split of its common stock, at a ratio of 1-for-170 (the “Reverse Stock Split”). The Reverse Stock Split became effective with FINRA (the Financial Industry Regulatory Authority) and in the marketplace on January 4, 2021 (the “Effective Date”), whereupon the shares of common stock began trading on a split adjusted basis.

On December 23, 2018, the Board of Directors of the Company approved a reverse stock split of its common stock, at a ratio of 1-for 20 (the “Reverse Stock Split”). The Reverse Stock Split became effective with FINRA (the Financial Industry Regulatory Authority) and in the marketplace on December 23, 2018 (the “Effective Date”), whereupon the shares of common stock began trading on a split adjusted basis.

On November 8, 2018, by written consent the holders of a majority of the outstanding shares voted to authorize an additional amendment to increase the authorized common shares to 5,000,000,000 shares.

On January 13, 2017, the Board of Directors of the Company approved a reverse stock split of its common stock, at a ratio of 1-for-10 (the “Reverse Stock Split”). The Reverse Stock Split became effective with FINRA (the Financial Industry Regulatory Authority) and in the marketplace on January 13, 2017 (the “Effective Date”), whereupon the shares of common stock began trading on a split adjusted basis.

As a result of the Reverse Stock Split the number of authorized shares of common stock was reduced to 50,000,000 from 500,000,000 shares. The Company held a Special Meeting of Stockholders in May 2017 which authorized an amendment to the Articles of Incorporation to increase the authorized common share capital to 2,000,000,000 common shares and 100,000,000 preferred shares. Thereafter, on September 27, 2017, by written consent the holders of a majority of the outstanding shares voted to authorize an additional amendment to increase the authorized common shares to 2,000,000,000 shares. After the reverse split on January 4, 2021, the holders of the majority of the outstanding shares once again increased the authorized common shares ~~authorized~~ to 2,000,000,000 shares.

DESCRIPTION OF PRODUCTS

ABCO sells, installs and services Solar Photovoltaic electric systems that allow the customer to produce their own power on their residence or business property. These products are installed by our staff and are purchased from both USA and offshore manufacturers. We have available and utilize many suppliers of US manufactured solar products from such companies as Mia Soleil, Canadian Solar, Westinghouse Solar and various Italian, Korean, German and Chinese suppliers. In addition, we purchase from several local and regional distributors whose products are readily available and selected for markets and price. ABCO offers solar leasing and long term financing programs from Service Finance Corporation, Green Sky, AEFC and others that are offered to ABCO customers and other marketing and installation organizations.

ABCO isalso ~~licensed and~~ sells ~~air conditioning products~~ and ~~services~~installs ~~throughout~~energy ~~Arizona.~~efficient ~~The~~lighting ~~Company~~products, ~~was~~solar ~~licensed~~powered instreetlights ~~2018~~ and ~~has~~lighting ~~local and national suppliers for products~~accessories. ~~Our~~ABCO ~~products~~contracts ~~are~~directly ~~manufactured~~with ~~both~~manufacturers ~~the USA~~ and indistributors ~~many~~to ~~offshore~~purchase ~~countries.~~its ~~Our~~lighting ~~markets~~products which are ~~directed~~sold to ~~both~~ residential and commercial customers ~~as well as Government~~.

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ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

~~ABCO~~THE ~~also~~YEAR ~~sells~~ENDED ~~and~~DECEMBER ~~installs energy efficient lighting products~~31, solar powered streetlights and lighting accessories. ABCO contracts directly with manufacturers and distributors to purchase its lighting products which are sold to residential and commercial customers.2021

UNAUDITED Not Reviewed

ABCO has Arizona statewide approval as a registered electrical services and solar products installer and as an air conditioning and refrigeration installer. Our license is ROC 258378 Electrical and ROC 323162 HVAC and we are fully licensed to offer commercial and residential electrical services, HVAC and Solar Electric.

ABCO has Three subsidiaries, ABCO Solar, Inc. an Arizona Corporation which provides solar and electric services and products, Alternative Energy Finance Corporation, (AEFC) a Wyoming Company which provides funding for leases of photovoltaic systems, and ABCO Air Conditioning Services, Inc., an Arizona Corporation which sells residential and commercial air conditioning equipment and services in Arizona. In addition, AEFC has ~~two~~one ~~subsidiaries~~subsidiary, “Alternative Energy ~~Solar~~Finance ~~Fund~~Corporation, LLC”, ~~and~~an Arizona limited liability Company that was formed to invest in solar projects ~~and Alternative Energy Finance Corporation, LLC, an Arizona limited liability company formed so AEFC could do business~~ in Arizona.

ABCO Solar offers solar systems “Operations and Maintenance Services” to residential and commercial customers that have solar systems built by ABCO or other solar installers. Many installers have gone out of business and ABCO’s service enables these customer’s system to continue to operate. ABCO’s service enables customers to maintain their warranties, remove and replace their systems for roof maintenance and to maintain peak efficiency. ABCO now operates and maintains systems in many cities in Arizona and intends to continue to expand this operation and maintenance segment of its business.

Note 2 – Summary of significant accounting policies.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations are based on our financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles, or “GAAP.” The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses. Intercompany transactions and balances have been eliminated. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. We have identified the following to be critical accounting policies whose application have a material impact on our reported results of operations, and which involve a higher degree of complexity, as they require us to make judgments and estimates about matters that are inherently uncertain.

Cash and Cash Equivalents

There are only cash accounts included in our cash equivalents in these statements. For purposes of the statement of cash flows, the Company considers all short-term securities with a maturity of three months or less to be cash equivalents. There are no short- term cash equivalents reported in these financial statements.

Fixed Assets

Property and equipment are to be stated at cost less accumulated depreciation. Depreciation is recorded on the straight-line basis according to IRS guidelines over the estimated useful lives of the assets, which range from three to ten years. Maintenance and repairs are charged to operations as incurred.

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

Revenue Recognition

The Company generates revenue from sales of solar products, LED lighting, installation services and leasing fees. During the last two fiscal years, the company had product sales as follows:

Sales Product and Services Description	~~September~~March 3031, ~~2021~~2022				~~September~~March 3031, ~~2020~~2021
Solar PV residential and commercial sales	$	~~842~~229,~~552~~151	8478	%	$	~~615~~320,~~687~~464	7996	%
Air conditioning sales and service		958,~~982~~017	120	%		776,~~018~~540	102	%
Energy efficient lighting & other income		~~145~~5,~~486~~994	152	%		758,~~219~~722	102	%
Interest Income		~~208~~71	-			~~209~~	1-	%
Total revenue	$	~~998~~293,~~228~~233	100	%	$	~~768~~335,~~133~~726	100	%

The Company recognizes product revenue, net of sales discounts, returns and allowances. These statements establish that revenue can be recognized when persuasive evidence of an arrangement exists, delivery has occurred, and all significant contractual obligations have been satisfied, the fee is fixed or determinable, and collection is considered probable.

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ABCO ENERGY, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 3 MONTHS ENDED MARCH 31, 2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED Not Reviewed

Our revenue recognition is recorded on the percentage of completion method for sales and installation revenue and on the accrual basis for fees and interest income. We recognize and record income when the customer has a legal obligation to pay. All our revenue streams are acknowledged by written contracts for any of the revenue we record. There are no differences between major classes of customers or customized orders. We record discounts, product returns, rebates and other related accounting issues in the normal business manner and experience very small number of adjustments to our written contractual sales. There are no post-delivery obligations because warranties are maintained by our suppliers. Our lease fees are earned by providing services to contractors for financing of solar systems. Normally we will acquire the promissory note (lease) on a leased system that will provide cash flow for up to 20 years. Interest is recorded on the books when earned on amortized leases.

Accounts Receivable and work-in-progress

The Company recognizes revenue upon delivery of product to customers and does not make bill-and-hold sales. Contracts spanning reporting periods are recorded on the percentage of completion method, based on the ratio of total costs to total estimated costs by project, for recognition of revenue and expenses. Accounts receivable includes fully completed and partially completed projects and partially billed statements for completed work and product delivery. The Company records a reserve for bad debts in the amount of 2% of earned accounts receivable. When the Company determines that an account is uncollectible, the account is written off against the reserve and the balance to expense. If the reserve is deemed to be inadequate after annual reviews, the reserve will be increased to an adequate level.

Inventory

The Company records inventory of construction supplies at cost using the first in first out method. After review of the inventory on an annual basis, the Company discounts all obsolete items to fair market value and has established a valuation reserve of 10% of the inventory at total cost to account for obsolescence. As of December 31, 2019 all inventory was written off resulting in ~~zero~~ balances at ~~September~~March 3031, ~~2021~~2022 of $0 and at December 31, ~~2020~~2021 of $0.

Income Taxes

The Company has net operating loss carryforwards as of ~~September~~March 3031, ~~2021~~2022 totaling approximately $45,~~749~~165,~~729~~966 net of accrued derivative liabilities and stock-based compensation, which are assumed to be non-tax events. A deferred 21% tax benefit of approximately $~~997~~1,~~443~~084,853 has been offset by a valuation allowance of the same amount as its realization is not assured. The full realization of the tax benefit associated with the carry-forward depends predominately upon the Company’s ability to generate taxable income during future periods, which is not assured.

The Company files in the ~~U.S.~~US only and is not subject to taxation in any foreign country. There are three open years for which the Internal Revenue Service can examine our tax returns so 2018, 2019 and 2020 are still open years and ~~2020~~2021 will ~~soon~~ replace 2018 atwhen the ~~end~~tax ofreturn ~~2021~~is filed.

Fair Values of Financial Instruments

ASC 825 requires the Corporation to disclose estimated fair value for its financial instruments. Fair value estimates, methods, and assumptions are set forth as follows for the Corporation’s financial instruments. The carrying amounts of cash, receivables, other current assets, payables, accrued expenses and notes payable are reported at cost but approximate fair value because of the short maturity of those instruments. The Company evaluates derivatives based on level 3 indicators.

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

The Company measures assets and liabilities at fair value based on expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale date of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level.

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ABCO ENERGY, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 3 MONTHS ENDED MARCH 31, 2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED Not Reviewed

The following are the hierarchical levels of inputs to measure fair value:

Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.

The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts payable and accrued expenses, approximate their fair values because of the current nature of these instruments. Debt approximates fair value based on interest rates available for similar financial arrangements. Derivative liabilities which have been bifurcated from host convertible debt agreements are presented at fair value. See note 11 for complete derivative and convertible debt disclosure.

Derivative Financial Instruments

Fair value accounting requires bifurcation of embedded derivative instruments such as convertible features in convertible debts or equity instruments, and measurement of their fair value for accounting purposes. In determining the appropriate fair value, the Company uses the binomial option-pricing model. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt, the Company will continue its evaluation process of these instruments as derivative financial instruments.

Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives. In addition, the fair value of freestanding derivative instruments, such as warrants, are also valued using the binomial option-pricing model.

Stock-Based Compensation

The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable.

Prior Period Reclassifications

Certain prior period amounts have been reclassified to conform to current period presentation in this Report.

Effects of Recently Issued Accounting Pronouncements

The Company has reviewed all recently issued accounting pronouncements and have determined the following have an effect on our financial statements:

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

Stock-Based Compensation

The Company accounts for employee and non-employee stock awards under ASC 505 and ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable. For employees, the Company recognizes compensation expense for share-based awards based on the estimated fair value of the award on the date of grant and the probable attainment of a specified performance condition or over a service period.

Per Share Computations

Basic net earnings per share are computed using the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and the dilutive potential common shares outstanding during the period. All shares were considered anti-dilutive at March 31, ~~2021~~2022 and December 31, ~~2020~~2021. Potentially dilutive share issues are: 1) all unissued common shares sold, 2) all convertible debentures have a possibility of a large number of shares being issued and would result in a larger number of shares issued if the price remains low, 3) the preferred stock of the company held by insiders is convertible into common shares and the preferred stock is voted on a 20 to 1 basis, 4) all options issued. All of the above are potential dilutive items.

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ABCO ENERGY, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 3 MONTHS ENDED MARCH 31, 2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED Not Reviewed

Note 3 – Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in marketing and operations. The Company incurred a net ~~losses~~loss of $(~~209~~280,~~295~~937) for the period ended March 31, 2022, and $(~~799~~93,~~162~~701) for the ~~nine~~three months ended ~~September~~March 3031, 2021 ~~and 2020 respectively~~. The net cash flow used in operations was $(~~372~~97,~~337~~106) for the period ended ~~September~~March 3031, ~~2021~~2021and ~~and~~ its accumulated net losses from inception through the period ended ~~September~~March 3031, ~~2021~~2022, is $(78,~~295~~035,~~562~~579), which raises substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company’s development activities since inception have been financially sustained through capital contributions from shareholders.

The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock or through debt financing and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might result from this uncertainty.

Note 4 – Accounts Receivable

Accounts receivable as of ~~September~~March 3031, ~~2021~~2022 and December 31, 2021 consists of the following:

Description	~~September~~March 3031, ~~2021~~2022		December 31, ~~2020~~2021
Accounts receivable on completed contracts	$	4068,~~018~~012	$	4333,~~221~~772
Costs and estimated earnings on contracts in progress		~~232~~295,~~423~~840		~~319~~298,~~001~~121
Total	$	~~272~~363,~~441~~852	$	~~362~~331,~~222~~893

Costs and Estimated Earnings on projects are recognized on the percentage of completion method for work performed on contracts in progress at ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021.

The Company records contracts for future payments based on contractual agreements entered into at the inception of construction contracts. Amounts are payable from customers based on milestones established in each contract. Larger contracts are billed and recorded in advance and unearned profits are netted against the billed amounts such that accounts receivable reflect current amounts due from customers on completed projects and amounts earned on projects in process are reflected in the balance sheet as costs and estimated earnings in excess of billings on contracts in progress. Excess billings on contracts in process are recorded as liabilities ~~of $229,713~~ and were $~~558~~303,~~907~~061 at ~~September~~March 3031, ~~2021~~2022 and $268,435 at December 31, ~~2020 respectively~~2021.

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

Note 5 – Inventory

Inventory of construction supplies not yet charged to specific projects was $0 at ~~September~~March 3031, ~~2021~~2022, and $0 as of December 31, ~~2020~~2021. The Company values items of inventory at the lower of cost or net realizable value and uses the first in first out method to charge costs to jobs. The Company wrote off all of its inventory during ~~2018~~2019.

Note 6 – Security deposits and Long Term Commitments

During October 2020, the Company moved into its own building that was purchased in December 2019 and abandoned the Wilmot Avenue rental space. It now occupies 4,800 square ~~feet~~foot of office and warehouse space and one-half acre of land. There are no security deposits.

Note 7 – Investment in long term leases

Long- term leases recorded on the consolidated financial statements were $3,~~759~~ 580 at ~~September~~March 3031, ~~2021~~2022 and $3,~~995~~ 641 at December 31, ~~2020~~2021, respectively. One of the leases owned by AEFC was paid in full by the customer during the year ended December 31, 2020.

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ABCO ENERGY, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 3 MONTHS ENDED MARCH 31, 2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED Not Reviewed

Note 8 – Fixed Assets

The Company has acquired all its office and field work equipment with cash payments and financial institution loans. The total fixed assets consist of land and building, vehicles, office furniture, tools and various equipment items and the totals are as follows:

Asset	~~September~~March 3031, ~~2021~~2022			~~December 31~~December31, ~~2020~~2021
Land and Building	$	~~326~~339,~~400~~250		$	~~326~~336,~~400~~444
Equipment		~~171~~163,~~912~~634			~~173~~163,~~991~~634
Accumulated depreciation		~~(123~~-126,~~345~~129	)		~~(106~~-121,~~504~~187	)
Fixed Assets, net of accumulated depreciation	$	~~374~~376,~~967~~755		$	~~393~~378,~~887~~891

Depreciation expense for the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 and the year ended December 31, ~~2020~~2021 was $164,~~841~~942 and $1314,~~486~~683, respectively.

On December 31, 2019, the Company purchased a building at 2505 N Alvernon consisting of 4,800 SF building and approximately ½ acre of land. The property was financed by a $25,000 loan from Green Capital (GCSG) and a mortgage from the seller for the $300,000 balance. The purchase price was $325,000 plus closing costs of $1,400.

Note 9 – Notes Payable -to Related Parties

Notes payable as of ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 consists of the following:

Description	~~September~~March 3031, ~~2021~~2022		December 31, ~~2020~~2021
Note payable – Director bearing interest at 12% per annum, unsecured, demand notes.	$	60,000	$	60,000
Note payable – President bearing interest at 12% per annum, unsecured, demand note.		~~225~~389,~~816~~935		251,340
Total	$	~~285~~449,~~816~~935	$	311,340

The first note in the amount of $60,000 provides for interest at 12% per annum and is unsecured. This note has unpaid accrued interest of $~~48,650~~ and $4352,~~263~~280 at ~~September~~March 3031, ~~2021~~2022 and $50,465 at December 31, ~~2020~~2021, respectively.

The second note has a current balance of $~~225~~389,~~816~~935 ~~and unpaid accrued interest of $72,988~~ as of ~~September~~March 3031, ~~2021~~2022. The note is a secured demand note covering all assets of the Company and bears interest at 12% per annum. OnThis ~~April 1, 2021, the promissory~~ note ~~payable~~has tounpaid ~~the~~accrued ~~President~~interest of ~~the~~$146,232 ~~Company~~at inMarch ~~the amount of $314~~31,~~636~~ of2022. ~~principal~~The ~~and~~Note ~~interest~~ was converted ~~into~~to a secured note ~~covering all assets of the Company. The Note bears interest at the rate 12% per annum and is due~~ on ~~demand.~~April ~~Financing statements are expected to be filed in Pima County~~1, AZ2021 ~~and in Las Vegas County, NV~~ covering ~~the~~all assets ~~which~~of ~~are~~the ~~securing this Note~~Company.

15The combined total funds due to Officers and Directors totaled $648,447 with principal and interest at March 31, 2022.

Note 10 – Short Term Notes Payable

Description	March 31, 2022		December 31, 2021
Bill’ d Exchange, LLC, an equipment capital lender, initial financing August 2, 2019, finances equipment for commercial contracted customers in varying amounts	$	20,000	$	20,000
Merchant loan – Green Capital		7,747		7,747
PPP loan – SBA loan payable		128,232		128,232
Total	$	155,979	$	155,979

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ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

~~The~~THE ~~combined~~YEAR ~~total~~ENDED ~~funds~~DECEMBER ~~due to Officers and Directors totaled $407~~31,~~454~~ ~~with principal and interest at September 30,~~ 2021.

~~Note~~UNAUDITED ~~10 –~~Not ~~Short Term Notes Payable~~Reviewed

Description	September 30, 2021		December 31, 2020
Bill’ d Exchange, LLC, an equipment capital lender, initial financing August 2, 2019, finances equipment for commercial contracted customers in varying amounts	$	20,000	$	31,462
Merchant loan – Knight Capital Funding, LLC		-		33,694
Merchant loan – Pearl lending		-		51,750
Merchant loan – Green Capital		7,747		11,748
Private money loan from Perfectly Green Corporation		-		33,754
Private money loan from prior officer of ABCO		-		61,052
PPP loan – SBA loan payable – first round		-		123,999
PPP loan -SBA loan payable – second round		128,232		-
Total	$	155,979	$	347,459

Bill’ d Exchange, LLC, a customer equipment capital lender, made their initial financing on August 2, 2019. They finance equipment for commercial contracted customers in varying amounts. These loans bear interest at varying rates and are paid weekly for the amount of interest due on the account at each date. Each loan is secured by the accounts receivable from the customer and by personal guarantee of an affiliated officer of ABCO Solar, Inc. On March 2, 2021, the Company entered an agreement to pay $20,000 to settle this Note in 5 payments of $4,000 each. Unpaid principal balance on this note at March 31, 2022 and December 31, 2021 was $20,000 and $20,000, respectively.

~~Bill’~~On dDecember ~~Exchange~~31, ~~LLC,~~2019 aABCO ~~customer~~borrowed ~~equipment~~$25,000 ~~capital~~from ~~lender~~Green Capital Funding, ~~made~~LLC. ~~their~~The ~~initial~~proceeds ~~financing~~from onthis ~~August~~loan 2,were ~~2019.~~used ~~They~~to ~~finance~~acquire ~~equipment~~the ~~for~~real ~~commercial~~estate ~~contracted~~purchased ~~customers~~on inthe ~~varying~~date ~~amounts~~of the loan. ~~These~~This ~~loans~~unsecured ~~bear~~loan bears interest at ~~varying~~approximately ~~rates~~36% and ~~are~~has ~~paid~~a ~~weekly~~repayment ~~for~~obligation in the amount of ~~interest~~$35,250 ~~due~~in on76 ~~the~~payments. ~~account~~The unpaid balance of principal and interest at ~~each~~December ~~date.~~31, ~~Each~~2020 ~~loan~~was is$11,748 ~~secured~~after byseveral ~~the~~months ~~accounts~~of ~~receivable~~daily ~~from~~payment and a default on February 18, 2020 due to the ~~customer~~reduction ~~and~~in bybusiness ~~personal~~from ~~guarantee~~Covid-19. As of anthe ~~affiliated~~date ~~officer~~ of ~~ABCO~~filing ~~Solar~~this report, ~~Inc~~no arrangements for resuming payments had been accomplished. ~~Unpaid~~ Outstanding principal balance onas ~~this~~of ~~note~~March at31, ~~September 30~~2022, ~~2021~~ and December 31, ~~2020~~2021 on the note was $207,~~000~~747and ~~and~~ $317,~~462~~747, respectively.

OnMr. ~~January~~Charles 30O’Dowd, ~~2019,~~former ~~the~~President ~~Company~~and ~~borrowed~~Director ~~$153,092~~of ~~including~~ABCO ~~principal~~Energy ~~and~~resigned ~~interest~~ from ~~Knight~~all ~~Capital~~positions ~~Funding,~~with ~~LLC,~~the ~~and~~Company ~~[“KCF”]~~on ~~bearing~~October ~~interest~~7, at2019. ~~23%~~Prior ~~per~~to ~~annum~~his resignation, ~~unsecured~~Mr. ~~This~~ ~~loan~~O’Dowd ~~was~~had ~~refinanced~~loaned onthe ~~August~~Company 10funds in the principal amount of $61,052 ~~2019~~which ~~and~~is ~~replaced~~represented ~~with~~by a ~~new~~Promissory ~~loan~~Note ofthat ~~$144,900~~is ~~from~~unsecured ~~KCF.~~that ~~The~~also ~~balance~~has ~~and~~unpaid ~~accrued~~ interest accrued at December 31, ~~2019~~2020 ~~was~~of $6134,~~747.~~694 Onleaving ~~February~~a ~~18,~~total ~~2020~~balance ~~ABCO defaulted on this loan~~ due toof ~~the~~$95,746 ~~reduction~~at inMarch ~~business~~31, ~~from~~2021. ~~Covid-19~~Mr. OnO’Dowd ~~March~~filed ~~29,~~legal ~~2021,~~action against the Company ~~made~~for acollection ~~final~~of ~~negotiated~~the ~~settlement~~amounts ~~payment~~due onunder ~~this~~the ~~note~~Note. ~~for~~During ~~$22,000~~2021 ~~and~~the ~~recorded~~company ~~gain~~negotiated ona ~~extinguishment~~settlement ofwith ~~debt~~Mr. ofO’Dowd ~~approximately~~to pay $141,~~000~~500 ~~during~~per ~~the~~month ~~nine~~for 48 months. ~~ended~~The ~~September~~outstanding ~~30, 2021. Outstanding~~ principal balance atas ~~September~~of 30March 31, ~~2021~~2022, and December 31, ~~2020~~2021 on the note was $~~-0-~~58,485 and $3363,~~694~~000, respectively.

On ~~December~~May 63, ~~2019~~2020, ~~the~~ Company ~~borrowed~~entered ~~$52,174~~into ~~from~~a ~~Pearl~~promissory ~~Delta~~note ~~Funding~~evidencing ~~that~~an ~~contained~~unsecured aloan ~~repayment~~ in the amount of $72123,~~000~~999.00 inmade ~~160~~to ~~payments~~the Company under the Paycheck Protection Program (the “Loan”). The Paycheck Protection Program (or “PPP”) was established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), and is administered by the U.S. Small Business Administration. The Loan to the Company is being made through Bank of ~~$450~~America, N. ~~This~~A., ~~unsecured~~a ~~note~~national ~~bears~~banking association (the “Lender”). The interest atrate on the ~~imputed~~Loan ~~rate~~will ofnot ~~approximately~~exceed 361.00%. ~~per~~The ~~annum~~promissory note evidencing the Loan contains customary events of default relating to, among other things, payment defaults, making materially false and misleading representations to the SBA or Lender, or breaching the terms of the Loan documents. The ~~unpaid~~occurrence ~~balance~~of an event of ~~principal~~default ~~and~~may ~~interest~~result atin ~~December~~the 31repayment of all amounts outstanding, ~~2019~~collection ~~was~~of ~~$65~~all amounts owing from the Company,~~664~~ or filing suit and obtaining judgment against the Company. OnUnder ~~February~~the 18terms of the CARES Act, ~~2020~~PPP ~~ABCO~~loan ~~defaulted~~recipients oncan ~~this~~apply for and be granted forgiveness for all or a portion of loan ~~due~~granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the ~~reduction~~use of loan proceeds for payment of payroll costs and any payments of mortgage interest, rent, and utilities. No assurance is provided that the Company will obtain forgiveness of the Loan in ~~business~~whole ~~from~~or ~~Covid-19~~in ~~when~~part. If the ~~balance~~SBA does not confirm forgiveness of the ~~note~~Loan ~~was~~or ~~$51~~only partly confirms forgiveness of the Loan,~~750.~~ Onincluding ~~March~~principal 29and interest (“Loan Balance”); then, ~~2021~~in either such case, the ~~Company~~Lender ~~made~~will establish the terms of repayment of the Loan Balance via a ~~final~~separate ~~negotiated~~letter ~~settlement~~to ~~payment~~the inCompany, containing the amount of ~~$36~~each monthly payment,~~998~~ the interest rate, etc. On March 9, 2021, the SBA and Bank of America notified the Company that the entire balance of this note has been forgiven by the Government. The Company recorded a gain on extinguishment of debt ~~for approximately $15,000~~ during the ~~nine~~three months ended ~~September~~March 3031, 2021 for approximately $124,000. Outstanding principal balance atas ~~September~~of 30March 31, ~~2021~~2022 and December 31, ~~2020~~2021 on the note was $-0- and $51-0,~~750,~~- respectively.

On ~~December~~February 3124, ~~2019~~2021, the Company ~~borrowed~~executed ~~$25,000~~a ~~from~~promissory ~~Green~~note ~~Capital~~evidencing ~~Funding,~~an ~~LLC. The~~unsecured ~~proceeds from this~~ loan ~~were~~(“Loan”) ~~used~~for to$128,232 ~~acquire~~under the ~~real~~Paycheck ~~estate~~Protection ~~purchased~~Plan on(“PPP”). ~~the~~The ~~date~~terms of the ~~loan. This~~Loan ~~unsecured~~require ~~loan~~1.00% ~~bears~~ interest. atThis ~~approximately~~loan ~~36%~~contains ~~and~~the ~~has~~same aclauses ~~repayment~~as ~~obligation in~~ the ~~amount~~previous ofEDIL ~~$35,250~~loan described in 76the ~~payments~~foregoing paragraph. ~~The~~Outstanding ~~unpaid~~principal balance as of ~~principal~~March ~~and~~31, ~~interest~~2022 atand December 31, ~~2020~~2021 on the note was $11128,~~748~~232 ~~after several months of daily payment~~ and a$128,232, ~~default~~respectively. onOn ~~February~~May 1814, ~~2020~~2022, ~~due to~~ the ~~reduction~~SBA inand ~~business from Covid-19. As of~~ the ~~date~~Bank of ~~filing~~America ~~this~~notified ~~report, no arrangements for resuming payments had been accomplished; however,~~ the Company ~~has~~that ~~been~~the ~~paying~~entire ~~$1,000 per month for several months. Outstanding~~ balance atof ~~September~~the ~~30,~~note ~~2021~~ and ~~December~~accrued ~~31,~~interest ~~2020~~has ~~was~~been ~~$7,747~~forgiven ~~and~~by ~~$11,748,~~the ~~respectively~~Government.

On January 22, 2018, the Company borrowed $60,000 from Perfectly Green Corporation, a Texas corporation. The Company has paid $26,246 leaving a balance of $33,754 at September 30, 2020 and December 31, 2019. The note bears interest at 3% per annum and is payable upon demand after 60 days’ notice which can be requested at any time after May 31, 2018. Outstanding principal balance as of September 30, 2021 was $-0- and December 31, 2020 was $33,754. During the nine months ended September 30, 2021, the Company wrote off the balance on this loan because they have not been successful in contacting the lender for more than two years. It appears they have ceased operations.15

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ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

~~Mr.~~THE ~~Charles~~YEAR ~~O’Dowd,~~ENDED ~~former~~DECEMBER President and Director of ABCO Energy resigned from all positions with the Company on October 7, 2019. Prior to his resignation, Mr. O’Dowd had loaned the Company funds in the principal amount of $61,052 which is represented by a Promissory Note that is unsecured that also has unpaid interest accrued at December 31, ~~2020 of $34,694 leaving a total balance due of $95,746 at September 30,~~ 2021. The note bears interest at the rate of 12% per annum. Mr. O’Dowd has filed legal action against the Company for collection of the amounts due under the Note. He received a default judgment and is attempting to execute on the judgment. Outstanding principal balance at September 30, 2021 and December 31, 2020 on the Note was $70,500 and $61,052, respectively. During the period ended September 30, 2021 the Company negotiated a settlement with Mr. O’Dowd for a payment of $5,000 in cash and 48 monthly payments of $1,500 totaling $72,000. As of September 30, 2021 the balance on this debt was $67,500 including interest, and the Company recorded a gain on the changes to this note in the amount of $18,746.

OnUNAUDITED ~~February~~Not 24, 2021, the Company executed a promissory note evidencing an unsecured loan (“Loan”) for $128,232 under the Paycheck Protection Plan (“PPP”). The terms of the Loan require 1.00% interest. This loan contains the same clauses as the previous EDIL loan described in the following paragraph. The Loan is forgivable, but no assurance can be given that the Company will receive forgiveness of this Loan. Outstanding principal balance at September 30, 2021 and December 31, 2020 on the note was $128,232 and $-0-, respectively.Reviewed

On May 3, 2020, Company entered into a promissory note evidencing an unsecured loan in the amount of $123,999.00 made to the Company under the Paycheck Protection Program (the “Loan”). The Paycheck Protection Program (or “PPP”) was established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), and is administered by the U.S. Small Business Administration. The Loan to the Company is being made through Bank of America, N.A., a national banking association (the “Lender”). The interest rate on the Loan will not exceed 1.00%. The promissory note evidencing the Loan contains customary events of default relating to, among other things, payment defaults, making materially false and misleading representations to the SBA or Lender, or breaching the terms of the Loan documents. The occurrence of an event of default may result in the repayment of all amounts outstanding, collection of all amounts owing from the Company, or filing suit and obtaining judgment against the Company. Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loan granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs and any payments of mortgage interest, rent, and utilities. No assurance is provided that the Company will obtain forgiveness of the Loan in whole or in part. If the SBA does not confirm forgiveness of the Loan or only partly confirms forgiveness of the Loan, including principal and interest (“Loan Balance”); then, in either such case, the Lender will establish the terms of repayment of the Loan Balance via a separate letter to the Company, containing the amount of each monthly payment, the interest rate, etc. On March 9, 2021, the SBA and Bank of America notified the Company that the entire balance of this note has been forgiven by the Government. The Company recorded a gain on extinguishment of debt during the nine months ended September 30, 2021 for $124,099 ($123,999 plus costs). Outstanding principal balance as of September 30, 2021 and December 31, 2020 on the note was $-0- and $123,999, respectively.

Note 11 – Convertible debentures - net of discounts and fees.

During the year ended December 31, 2021, the Company [partially] funded operations with borrowing on new convertible promissory notes. This table presents the positions on the ~~outstanding~~ notes atas ~~September~~of 30March 31, ~~2021~~2022, and December 31, ~~2020, respectively~~2021.

Holder	Date of Loan		~~Loan amount~~	Loan amount		~~OID and discounts and fees~~	OID and discounts and fees		~~Interest rate~~	Interest rate			~~Balance September 30, 2021~~	Balance March 31, 2022			~~Balance December 31, 2020~~	Balance December 31, 2021
Power Up Lending Group Ltd	~~3-29-21~~	10-06-21		~~80,000~~	50,000		~~20,600~~$	3,750		12	%8	%		~~26,720~~	53,750			-	53,750
Power Up Lending Group Ltd	5-25-21			48,750			13,987			12	%			33,202				-
6th Street Lending LLC		11-10-21			35,000			3,750			12	%			38,750				38,750
Oasis Capital	1-22-20			189,000			17,758			8	%			113,380				150,553
6th Street Lending LLC		12-17-21			40,000			3,750			12	%			43,750				43,750
Oasis Capital	9-1-18			150,000			-			8	%			3,264				3,264
6th Street Lending, LLC		2-22-22			35,000			3,750			12	%			38,750				0
Oasis Capital	~~7-19-21~~	07-19-21		~~118,000~~	118,000		~~4,500~~	10,000		8	%8	%		~~49,500~~	0			-	7,653
Totals and balances			$	585,750		$	56,845						$	226,066			$	153,817
Derivative liability		12-31-21													234,913				99,034
Total convertible debt				$	278,000		$	25,000							411,163				242,937
Less Original issue discounts															(4,066	)			(9,127	)
Balances at 3-31-22 and 12-31-21														$	407,097			$	233,810

The Financial Accounting Standard ASC 815 Accounting for Derivative Instruments and Hedging Activities require that instruments with embedded derivative features be valued at their market values. The Black Scholes model was used to value the derivative liability for the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 and the fiscal year ending December 31, ~~2020~~2021. This value includes the fair value of the shares that may be issued according to the contracts of the holders and valued according to our common share price at the time of acquisition.

17As of September 1, 2018, the Company entered into an Equity Purchase Agreement with Oasis Capital, LLC, a Puerto Rico limited liability company (“Investor”) pursuant to which Investor agreed to purchase up to $5,000,000 of the Company’s common stock at a price equal to 85% of the market price at the time of purchase (“Put Shares”). The Company agreed to file a new registration statement to register for resale the Put Shares. The Registration Statement must be effective with the SEC before Investor is obligated to purchase any Put Shares. In addition, the Company [i] issued to Investor a one year $150,000 note which is convertible at a fixed price of $.01 per share as a commitment fee for its purchase of Put Shares and [ii] delivered to Investor a Registration Rights Agreement pursuant to which the Company agreed to register all Put Shares acquired under the Equity Purchase Agreement. During 2020, Investor converted $59,692 of principal of the Note and received 930,165,889 shares of common stock. During the twelve months ended December 31, 2020, the negotiated note balance was $3,264. The unpaid principal balance on the Note was $0 and $7,653 at March 31, 2022 and December 31, 2021, respectively.

As of January 21, 2020 (“Effective Date”), the Company issued to Oasis a $208,000 Promissory Note, net of a prorated original issue discount of $16,000 (“1/21/20 Note”). The Company received $34,000 (“First Tranche”) with four additional Tranches through December 31, 2020 totaling $85,000. There were three Tranches for the period of January 1, 2021 to February 19, 2021, totaling $70,000. Each Tranche matures nine months from the effective date of each such payment. The Company issued Warrants with each Tranche totaling [2,100,000] shares. Each Warrant expires five years from the date of issuance and is exercisable at a conversion price of 120% of the closing price on the trading day prior to the funding date of the respective Tranche. The Company also agreed to issue to Oasis 5,000,000 shares of common stock as an incentive/commitment fee in connection with the transactions. The Company valued these shares at $14,500 and issued these shares in 2020. The 1/21/20 Note is convertible into common stock at a 35% discount to market. The balance of the Note at March 31, 2022 was $0 including all penalties and interest.

Table of Contents

ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

AsTHE ofYEAR ~~September~~ENDED 1,DECEMBER 2018, the Company entered into an Equity Purchase Agreement with Oasis Capital, LLC, a Puerto Rico limited liability company (“Investor”) pursuant to which Investor agreed to purchase up to $5,000,000 of the Company’s common stock at a price equal to 85% of the market price at the time of purchase (“Put Shares”). The Company agreed to file a new registration statement to register for resale the Put Shares. The Registration Statement must be effective with the SEC before Investor is obligated to purchase any Put Shares. In addition, the Company [i] issued to Investor a one year $150,000 note which is convertible at a fixed price of $.01 per share as a commitment fee for its purchase of Put Shares and [ii] delivered to Investor a Registration Rights Agreement pursuant to which the Company agreed to register all Put Shares acquired under the Equity Purchase Agreement. During 2020, Investor converted $59,692 of principal of the Note and received 930,165,889 (post reverse 5,471,564) shares of common stock. During the twelve months ended December 31, ~~2020, the negotiated note balance was $3,264. The unpaid principal balance on the Note was $3,264 and $3,264 at September 30,~~ 2021 ~~and December 31, 2020, respectively.~~

AsUNAUDITED ofNot January 21, 2020 (“Effective Date”), the Company issued to Oasis a $208,000 Promissory Note, net of a prorated original issue discount of $16,000 (“1/21/20 Note”). The Company received $34,000 (“First Tranche”) with four additional Tranches through December 31, 2020 totaling $85,000. There were three Tranches for the period of January 1, 2021 to February 19, 2021, totaling $70,000. Each Tranche matures nine months from the effective date of each such payment. The Company issued Warrants with each Tranche totaling [2,100,000] shares. Each Warrant expires five years from the date of issuance and is exercisable at a conversion price of 120% of the closing price on the trading day prior to the funding date of the respective Tranche. The Company also agreed to issue to Oasis 5,000,000 shares of common stock as an incentive/commitment fee in connection with the transactions. The Company valued these shares at $14,500 and issued these shares in 2020. The 1/21/20 Note is convertible into common stock at a 35% discount to market. The balance of the Note at September 30, 2021 was $31,539, including all penalties and interest and payments through conversions for $76,224. Outstanding principal balance as of September 30, 2021 and December 31, 2020 on the note was $30,458 and $150,553, respectively. During the nine months ended September 30, 2021 Oasis converted 10,012,508 shares to reduce the principal on this note by $120,095.Reviewed

On March 29, 2021, the Board of Directors of the Corporation deem it in the best interests of the Corporation to enter into the Securities Purchase Agreement dated March 29, 2021 (the “Agreement”) with Power Up Lending Group Ltd. (“PowerUp”), in connection with the issuance of: (i) a promissory note of the Corporation, in the aggregate principal amount of $80,000 (including $7,~~500of~~500 of Original Issue Discount) (the “Note”), (ii) Three Hundred Seventy Three Thousand Three Hundred Thirty Three (373,333) restricted common shares of the Corporation (“Commitment Shares”) to be delivered to PowerUp in book entry with the Corporation’s transfer agent prior to the Closing Date, (iii) Seventy Hundred Forty Six Thousand Six Hundred Sixty Seven (746,667) restricted common shares of the Corporation (“Security Shares” and together with the Note and the Commitment Shares, collectively, the “Securities”) to be delivered to PowerUp in book entry with the Corporation’s transfer agent prior to the Closing Date; and in connection therewith to enter into an irrevocable letter agreement with Vstock Transfer LLC, the Corporation’s transfer agent, with respect to the reserve of shares of common stock of the Corporation to be issued upon any conversion of the Note (only upon default); the issuance of such shares of common stock in connection with a conversion of the Note (the “Letter Agreement”). The proceeds of this note were specifically slated for payment of the settlement of the Knight Capital Merchant Loan for $22,000 and the final payment of the Pearl Capital merchant note for $36,998. ~~The~~ These discounted payoffs of these notes saved the company $26,446 plus future interest. Outstanding principal balance as of ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 on the note was $~~26,720~~0 and $-0-, respectively.

On May 25, 2021, the Board of Directors of the Corporation deem it in the best interests of the Corporation to enter into the Securities Purchase Agreement (the “Agreement”) with Power Up Lending Group Ltd. (“PowerUp”), in connection with the issuance of: (i) a promissory note of the Corporation in the aggregate principal amount of $53,625 (including $4,875 of Original Issue Discount) (the “Note”), (ii) the rights to acquire 1,340,625 warrants for common shares of the Corporation to be delivered to PowerUp upon submission to the Company of the exercise price of $.03 per share. These warrants are exercisable for a period of three years after the date of the loan. The balance on this loan at September 30, 2021 was $33,202 after payments.

On July 7, 2021, Absaroka Communications Corporation (“ACC”) , a consultant to the Company and an affiliate of the President of the Company, converted 1,000,000 shares of Series B Convertible Preferred Shares (“Series B Preferred”) into 10,000,000 shares of free-trading common shares. The Series B Preferred is by its terms convertible at the rate of one share of Series B Preferred for 10 shares of Common Stock.

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

On July 19, 2021, the Company entered into an Equity Purchase Agreement with Oasis Capital, LLC, a Puerto Rico limited liability company (“Investor”) pursuant to which Investor agreed to purchase up to $2,500,000 of the Company’s common stock at a price equal to 80% of the lowest traded price of the common stock during the five trading days immediately preceding the applicable purchase (“Put Shares”). In addition, the Company entered into a Registration Rights Agreement with Investor pursuant to which the Company agreed to register all Put Shares acquired under the Equity Purchase Agreement. The Company agreed to file a new registration statement to register for resale the Put Shares. The Registration Statement must be effective with the SEC before Investor is obligated to purchase any Put Shares. On November 15, 2021, the parties mutually agreed to terminate the Equity Purchase Agreement without any liability to the other as a result thereof.

On August 19, 2021, Absaroka Communications Corporation (“ACC”) , a consultant to the Company and an affiliate of the President of the Company, converted 1,200,000 shares of Series B Convertible Preferred Shares (“Series B Preferred”) into 12,000,000 shares of free-trading common shares. The Series B Preferred is by its terms convertible at the rate of one share of Series B Preferred for 10 shares of Common Stock.

On September 25, 2020, the Board of Directors of the Corporation deem it in the best interests of the Corporation to enter into the Securities Purchase Agreement dated September 30, 2021 (the “Agreement”) with Power Up Lending Group, Ltd. (“Power Up”), in connection with the issuance of a convertible note of the Corporation in favor of Power Up Lending, in the aggregate principal amount of $53,750,00 (the “Note”), convertible into shares of common stock, $0.001 par value per share, of the Company (“the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in such Note. This note no longer has a balance.

Note 12 – Fair Value Measurements

The Company complies with the provisions of FASB ASC No. 820, Fair Value Measurements and Disclosures (“ASC 820”), in measuring fair value and in disclosing fair value measurements at the measurement date. ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements required under other accounting pronouncements. FASB ASC No. 820-10-35, Fair Value Measurements and Disclosures- Subsequent Measurement (“ASC 820-10-35”), clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820-10-35-3 also requires that a fair value measurement reflect the assumptions market participants would use in pricing an asset or liability based on the best information available. Assumptions include the risks inherent in a particular valuation technique (such as a pricing model) and/or the risks inherent in the inputs to the model.

The following table shows the change in the fair value of the derivative liabilities on all outstanding convertible debt at ~~September~~March 3031, ~~2021~~2022 and ~~2020~~at March 31, 2021:

Description	~~September~~March 3031, ~~2021~~2022			~~June~~March 3031, ~~2020~~2021
Purchase price of the convertible debenture - net of discount	$	-125,000		$	~~442~~80,~~300~~000
Valuation reduction during the period		-			(53,119	)
Purchase during period		35,000			0
Balance of derivative liability net of discount on the notes (See Consolidated Balance sheet liabilities)	$	-		$	389,181
Total convertible debt		160,000			80,000
Valuation of derivative during prior period		99,034			0
Valuation of derivative during current period net of expenses		148,063			151,667
Balance of derivative liability net of discount on the notes (See Consolidated Balance sheet liabilities)	$	407,097		$	231,667
Derivative calculations and presentations on the Statement of Operations
Loss on note issuance	$	-0		$	-0
Change in Derivative (Gain) Loss		-135,879			~~(290,137~~0	)
Derivative Finance fees		~~(49~~34,~~623~~361	)		-49,623
Gain (loss) on extinguishment of debt		-0			-0
Derivative expense charged to operations in 2021 and 2020 (See Consolidated Statement of Operations)	$	(49,623	)	$	(290,137	)
Derivative expense charged to operations in 2022 and 2021 (See Consolidated Statement of Operations)	$	170,240		$	49,623

1917

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ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED Not Reviewed

Note 13 – Long term debt

Holder	Date issued		~~Interest rate~~	Interest rate			~~Amount due September 30, 2021~~	Amount due March 31, 2022		~~Amount due December 31, 2020~~	Amount due December 31, 2021
Real Estate Note Allen-Neisen Family trust – Et. Al.	~~12-31-19~~	12-31-19		~~5.00~~	%5.00	%	$	~~283,221~~$	278,371	$	~~290,271~~$	280,811
US Treasury SBA guaranteed loan	~~7-21-20~~	7-21-20		~~3.75~~	%3.75	%		~~149,900~~	149,900		~~149,900~~	149,900
Ascentium Capital	~~10-1-18~~	10-1-18		~~13.00~~	%13.00	%		~~3,869~~	1,491		~~6,998~~	2,417
Fredrick Donze	~~9-2-18~~	9-2-18		~~6.00~~	%6.00	%		~~426~~	0		~~2,374~~	341
Charles O’Dowd promissory note	6-15-21			5.00	%			67,500			-
Charles O’Dowd – former officer truck loan		8-9-18			6.00	%			58,485			63,000
Charles O’Dowd – former officer truck loan	8-9-18			6.00	%			0			2,560
GMAC Chev truck		10-20-20			5.99	%			18,495			19,724
GMAC Chev truck	10-20-20			5.99	%			20,935			23,574
Mechanics Bank – Chev Truck		12-12-20			8.99	%			19,035			20,140
Mechanics Bank – Chev Truck	12-12-20			8.99	%			21,221			24,318
Total long-term debt									525,777			536,333
Total long-term debt								547,072			499,995
Less Current portion									39,336			40,808
Less Current portion								41,896			27,702
Total long-term debt								$	486,441		$	495,525
Total long-term debt							$	505,176		$	472,293

On December 31, 2019 ~~the~~ABCO ~~Company~~ completed negotiations, financial arrangements and closed on the purchase of a 4,800 square foot office and warehouse building located on one/half acre of paved land on one of Tucson’s busiest streets. This property will be more than adequate to house both the Solar business and our HVAC expansion. The land and outbuildings will accommodate all of our equipment. The property acquisition was priced at $325,000 the company paid $25,000 down payment and the seller financed $300,000 mortgage based on a twenty-year amortization and a 5% interest rate with a balloon payment at the end of five (5) years. The monthly payment is $1,980. Outstanding principal balance as of ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 on the note was $~~283~~278,~~221~~371 and $~~290~~280,~~271~~811, respectively.

On July 21, 2020, the Company received an SBA loan from Bank of America in the amount of $~~149~~150,~~900~~000 that is guaranteed by the US Treasury Department. Installment payments, including principal and interest, of $731.00 monthly, will begin Twelve (12) months from the date of the promissory Note. The balance of principal and interest will be payable Thirty (30) years from the date of the ~~Promissory~~promissory Note. Interest will accrue at the rate of 3.75% per annum and will accrue only on funds actually advanced from the date(s) of each advance. Each payment will be applied first to interest accrued to the date of receipt of each payment, and the balance, if any, will be applied to principal. For loan amounts of greater than $25,000, Borrower hereby grants to SBA, the secured party hereunder, a continuing security interest in and to any and all “Collateral” as described herein to secure payment and performance of all debts, liabilities and obligations of Borrower to SBA hereunder without limitation, including but not limited to all interest, other fees and expenses (all hereinafter called “Obligations”). The Collateral includes the following property that Borrower now owns or shall acquire or create immediately upon the acquisition or creation thereof: all tangible and intangible personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments, including promissory notes (d) chattel paper, including tangible chattel paper and electronic chattel paper, (e) documents, (f) letter of credit rights, (g) accounts, including health-care insurance receivables and credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j) general intangibles, including payment intangibles and software and (k) as-extracted collateral as such terms may from time to time be defined in the Uniform Commercial Code. The security interest Borrower grants includes all accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all products, proceeds and collections thereof and all records and data relating thereto. During the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 and the year ended December 31, ~~2020~~2021, the Company recorded $41,~~198~~406 and $25,~~812~~624 in interest expense on this loan, respectively. Unpaid principal balance of the SBA loan at ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 was $~~149~~150,~~900~~000 and $~~149~~150,~~900~~000, respectively.

~~The~~ABCO ~~Company~~acquired ~~recorded~~the aassets ~~gain~~of Dr. Fred Air Conditioning services on ~~extinguishment~~September 2, 2018 for the total price of ~~debt~~$22,000. ~~during~~The allocation of the ~~nine~~purchase ~~months~~price ~~ended~~was ~~September~~to 30truck and equipment at $15,000 ~~2021~~and the balance was allocated to inventory and the license for period of five or more years. The truck and equipment were financed by Ascentium Capital. The payments on the Ascentium capital note are $~~206,047~~435 and the payments on the Donze note are $212 each per month.

The Company acquired the assets of Dr. Fred Air Conditioning services on September 2, 2018 for $22,000. The allocation of the purchase price was to truck and equipment at $15,000 and the balance was allocated to inventory and the license for period of five or more years. The truck and equipment were financed by Ascentium Capital. The payments on the Ascentium capital note are $435 and the payments on the Donze note are $212 per month.18

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ABCO ENERGY, INC.

NOTES TO ~~THE UNAUDITED~~ CONSOLIDATED FINANCIAL STATEMENTS

~~SEPTEMBER~~FOR 30THE 3 MONTHS ENDED MARCH 31, ~~2021~~2022 AND

~~The~~THE ~~Company~~YEAR ~~purchased~~ENDED anDECEMBER automobile from its then President, Charles O’Dowd, with a promissory note in the amount of $6,575 dated August 9, 2018 and the note bears interest at 6% per annum for the three-year payment plan. Mr. O’Dowd is no longer an officer or employee of the Company. The balance at September 30, 2021 and December 31, ~~2020 was $ 0 and $2,560, respectively.~~2021

UNAUDITED Not Reviewed

Note 14 – Stockholder’s Deficit

Preferred Stock

On September 15, 2017 and on September 15, 2018, the Board of Directors authorized on each such date the issuance of 15,000,000 preferred shares for an aggregate of 30,000,000 shares of Class B Convertible Preferred Stock [“Series B”] to both Directors of the Company and to two Consultants, of which, David Shorey, President of the Company, is the beneficial owner thereof, a total of 30,000,000 shares of Series B. The Company assigned a value of $15,000 for the shares for 2017 and 2018. Of the Series B, 12,000,000 shares were issued to Charles O’Dowd and 2,000,000 to Wayne Marx, the Directors. Each Consultant received 8,000,000 shares. See the Company’s Schedule 14C filed with the Commission on September 28, 2018. Upon his resignation, Mr. O’ Dowd’s shares were cancelled and reissued to two Consultants. These shares have no market pricing and management assigned an aggregate value of $30,000 to the stock issued based on the par value of $0.001. The 30,000,000 shares of Preferred Stock, each has 200 votes for each Preferred share held by of record. The holders of the Preferred are also entitled to an additional 8,823,930 common shares upon conversion of the Preferred Stock. As a result of owning of these shares of Common and Preferred Stock, the Control Shareholders will have voting control of the Company.

Common Stock

During the ~~six~~three months ended ~~September~~March 3031, ~~2021~~2022 and the year ended December 31, ~~2020~~2021 the following shares were issued for debt conversions:

	Nine Months Ended September 30, 2021				During the Year Ended December 31, 2020
	Three Months Ended March 31, 2022				During the Year Ended December 31, 2021
Capital Company	Shares converted		Dollars converted		Shares converted		Dollars converted
Crown Bridge Partners		-	$	-		2,300,000	$	46,540
PowerUp Lending		0		0		14,399,082	$	133,505
Power Up		1,282,051		25,000		1,633,968		57,450
Oasis Capital		5,206,530		42,017		39,931,068		282,240
Oasis Capital		23,746,991		172,846		5,173,328		125,775
Total		5,206,530	$	42,017		54,330,150	$	415,745
Total		25,029,042	$	197,846		9,107,296	$	229,765

After the reverse of shares effective January 4, 2021 the authorized shares were reduced to 29,411,765. Our board of directors believes that it is desirable to have additional authorized shares of common stock available for possible future financings, acquisition transactions, joint ventures and other general corporate purposes. Our board of directors believes that having such additional authorized shares of common stock available for issuance in the future will give us greater flexibility and may allow such shares to be issued without the expense and delay of a special shareholders’ meeting unless such approval is expressly required by applicable law. Although such issuance of additional shares with respect to future financings and acquisitions would dilute existing shareholders, management believes that such transactions would increase the overall value of the Company to its shareholders. Therefore, on January 11, 2021, the shareholders voted to authorize an increase in the Authorized Common Shares to 2,000,000,000 shares. On February 18, 2022, the authorized number of Common Shares were increased to 5 Billion from 2 Billion to increase the number of shares available for reserves. The increase was authorized by the Board and by a Majority of the outstanding shares of common stock, both by written consent.

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

Earnings (loss) per share calculation

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

The computation of basic and diluted loss per share at ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 excludes the common stock equivalents from convertible debt of the following potentially dilutive securities because their inclusion would be anti-dilutive, and the share issue number is not calculable until conversion takes place.

Stock subscriptions executed under an earlier offering included a provision whereby ABCO agrees to pay a dividend (defined as interest) of from 6% to 12% of the total amount invested for a period of one year from receipt of the invested funds. This dividend (defined as interest) is allocated between the broker and the investor with amounts paid to the broker treated as a cost of the offering and netted against additional paid in capital and amounts paid to the investor treated as interest expense. Total amounts paid or accrued under this agreement and charged to additional paid-in capital for the nine months ended September 30, 2021 and the year ended December 31, 2020, amounted to $0 and $0, respectively. The accrued balance due on this obligation to shareholders totals $49,290 at September 30, 2021 and $49,290 at December 31, 2020.19

~~The~~Table ~~Company has evaluated these agreements under ASC 480-10: Certain Financial Instruments with Characteristics~~ of both Liabilities and Equity and determined that the capital contributions made under these subscription agreement more closely resemble equity than liabilities as they can only be settled through the issuance of shares and although they have a stated cost associated with them which accrues in the same manner as interest, the cost is only incurred in the first twelve months after placement as is more closely associated with a cost of raising funds than interest expense.Contents

ABCO ENERGY, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 3 MONTHS ENDED MARCH 31, 2022 AND

THE YEAR ENDED DECEMBER 31, 2021

UNAUDITED Not Reviewed

Stock subscriptions executed under an earlier offering included a provision whereby ABCO agrees to pay a dividend (defined as interest) of from 6% to 12% of the total amount invested for a period of one year from receipt of the invested funds. This dividend (defined as interest) is allocated between the broker and the investor with amounts paid to the broker treated as a cost of the offering and netted against additional paid in capital and amounts paid to the investor treated as interest expense. Total amounts paid or accrued under this agreement and charged to additional paid-in capital for the three months ended March 31, 2022 and the year ended December 31, 2021, amounted to $0 and $0, respectively. The accrued balance due on this obligation to shareholders totals $49,900 at March 31, 2022 and $49,900 at December 31, 2021.

ABCO has evaluated these agreements under ASC 480-10: Certain Financial Instruments with Characteristics of both Liabilities and Equity and determined that the capital contributions made under these subscription agreement more closely resemble equity than liabilities as they can only be settled through the issuance of shares and although they have a stated cost associated with them which accrues in the same manner as interest, the cost is only incurred in the first twelve months after placement as is more closely associated with a cost of raising funds than interest expense.

Note 15 – Equity Awards

The following table sets forth information on outstanding option and stock awards held by the named executive officers of the Company at ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021, including the number of shares underlying both exercisable and un-exercisable portions of each stock option as well as the exercise price and the expiration date of each outstanding option. See Note to Notes to Consolidated Financial Statements.

Outstanding Equity Awards After Fiscal Year-End (1)
Name	Number of securities underlying unexercised options exercisable (1)(5)			Number of securities underlying unexercised options un-exercisable (2)		Option Exercise Price ($)		Option Grant Date	Option Expiration Date
Michael Mildebrandt		3,704	(3)(4)		8	$	.001	11/01/2019	11/01/2023
Adrian Balinski		3,704	(3)(4)		8	$	.001	11/01/2019	11/01/2023

	(1)	7,408 shares were issued for Equity Awards during the year ended December 31, 2019.
	(2)	All options vest 20% per year beginning on the first anniversary of their grant date.
	(3)	Messrs. Mildebrandt and Balinski were each awarded 3,704 shares of restricted common stock as of October 31, 2020, for being officers and directors of the Company.
	(4)	Mr. Mildebrandt and Mr. Balinski have resigned as officers and directors.
	(5)	Mr. Charles O’Dowd, former president of ABCO, resigned on October 7, 2019. All options previously issued to Mr. O’Dowd expired on January 1, 2021 and none were exercised at any time.

An aggregate of 7,408 stock awards are outstanding under the Equity Incentive Plan (“EIP”) at ~~June~~March 3031, ~~2021~~2022.

22Effective January 9, 2021, the Company issued an aggregate of 5,000,000 restricted common shares for services rendered, of which 500,000 were awarded to Wayne Marx, an officer and Director, 3,5000,000 shares to an LLC controlled by David Shorey, President, CEO and CFO, and 1,000,000 shares to an outside consultant.

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ABCO ENERGY, INC.

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2021

Effective January 9, 2021, the Company issued an aggregate of 5,000,000 restricted common shares for services rendered, of which 500,000 were awarded to Wayne Marx, an officer and Director, 3,500,000 shares to an LLC controlled by David Shorey, President, CEO and CFO, and 1,000,000 shares to an outside consultant.

Note 16 – Subsequent Events

OnThe ~~November 8, 2021, the~~ Company ~~entered~~recorded ~~into~~a ~~securities~~gain ~~Purchase~~on ~~Agreement~~extinguishment ~~with Power Up in connection with the issuance~~ of adebt ~~convertible~~on ~~note~~April of30, ~~the~~2022 ~~Company to Power Up in the aggregate principal amount~~ of $38128,~~750~~232.00 ~~[“Note”],~~Unpaid ~~convertible~~principal ~~into~~balance ~~common stock~~ of the ~~Company,~~extinguished ~~upon~~SBA ~~the~~loan ~~terms~~at ~~and~~March ~~subject~~31, to2022 ~~the~~and ~~limitations~~December ~~and~~31, ~~conditions~~2021 ~~set~~was ~~forth~~$128,232 inand ~~the~~$128,232, ~~Note~~respectively.

~~On November 15, 2021, the Company and Oasis Capital terminated the Equity Purchase Agreement described in Note 11 on page 17 hereof. See said Note for additional information.~~20

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

RESULTS OF OPERATIONS – OVERVIEW

FOR THE THREE MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2021~~2022

AND ~~SEPTEMBER~~MARCH 3031, ~~2020~~2021

Our discussion of operating results for the three months ended September 30, 2021 and 2020 are presented below with major category details of revenues and expenses including the components of operating expenses. Sales consist of photovoltaic products, electrical services and LED lighting products and installation during both periods.UNAUDITED

~~Sales~~Our discussion of operating results for the ~~three~~Three months ended ~~September~~March 3031, 2021 and ~~2020~~March ~~were $229~~31,~~829~~ ~~and~~2020 ~~$246,102,~~are ~~respectively. This~~presented isbelow anwith ~~decrease~~major ofcategory ~~$16273~~details ~~or 7%~~ of ~~the 2020~~ revenues. ~~The Solar sales revenue in 2021~~ and ~~2020~~expenses ~~reflected~~including ~~seasonal and changing market conditions in~~ the ~~financing~~components of ~~solar~~operating ~~installations~~expenses. inSales ~~the~~consist ~~Arizona markets and the effects~~ of ~~the~~photovoltaic ~~COVID-19~~products, ~~Pandemic. ABCO~~electrical ~~has~~services ~~begun its focus on commercial sales in 2017~~ and ~~has~~LED ~~been~~lighting ~~able~~products ~~to grow every period since that decision. The Company has worked diligently to overcome the utility changes by focusing on commercial applications~~ and ~~the~~installation ~~increased~~during ~~interest~~both ~~of business and government in the LED lighting contracts~~periods.

~~Cost~~Sales ~~of sales~~ for the three months ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021 ~~was~~were $~~165~~293,~~734~~233 and $~~281~~335,~~419~~721, respectively,. orThis ~~72%~~is ~~and~~an ~~114%~~decrease of ~~revenues~~$42,493 ~~for~~or ~~each~~13% ~~period~~of ~~then~~the ~~ended~~2021 sales. ~~Gross~~ ~~margins~~The ~~were~~Solar ~~28%~~sales of revenue ~~for~~in ~~the~~2022 ~~three~~and ~~months~~2021 ~~ended~~reflected ~~September~~seasonal ~~30,2021~~ and ~~(14)%~~changing ofmarket ~~revenue~~conditions ~~for~~in the ~~three~~financing ~~months~~of ~~ended~~solar ~~September~~installations ~~30,~~in ~~2020. During~~the ~~2021~~Arizona ~~and~~markets ~~2020 we have been offering new products~~ and ~~have~~the ~~found~~effects ~~our~~of ~~entry~~the ~~market~~COVID-19 ~~prices~~Pandemic. ~~for~~ABCO ~~steel~~has ~~parking~~begun ~~structures~~its ~~have~~focus ~~added~~on ~~gross~~commercial ~~margins~~sales ~~higher~~in ~~than~~2017 ~~usual~~and ~~because~~has webeen ~~use~~able ~~outside~~to ~~contractors~~grow ~~for~~every ~~the~~period ~~entire~~since ~~projects. Our~~that ~~gross profit reflects this~~ decision. We ~~feel~~ABCO ~~that~~has weworked ~~have~~diligently ~~made~~to ~~progress~~overcome ~~in entering~~ the ~~parking~~utility ~~shade~~changes ~~markets~~by ~~and~~focusing ~~that~~on ~~our~~commercial ~~gross~~applications ~~margins~~and ~~will~~the ~~stabilize~~increased asinterest ~~growth~~of ~~lowers~~business ~~these~~and ~~margins~~government in the ~~future~~LED lighting contracts.

~~Total~~Cost ~~selling, general and administrative expenses were $208,180 or 91%~~ of ~~revenues~~sales ~~during~~for the three months ended ~~September~~March 3031, ~~2021~~2022 and 2021 was $~~189~~195,~~859~~343 orand ~~77% of revenues for the three months ended September 30~~$294, ~~2020~~142, respectively~~. Net~~, ~~loss~~and ~~from~~67% ~~operations~~and ~~for~~88% ~~the~~of ~~three-month~~sales ~~period~~for ~~ended~~each ~~September~~period ~~30,~~then ~~2021~~ended. ~~was~~Gross ~~$144,085~~margins aswere ~~compared~~33% ~~to a net loss~~ of ~~$225,176~~revenue for the ~~same~~first three~~-month~~ ~~period~~months ended ~~September~~March 3031, ~~2020. Our~~2022 ~~operating~~and ~~expenses~~13% of revenue for the three months ~~ending~~ended ~~September~~March 3031, 2021. ~~period~~During ~~were $18,321~~2021 ~~lower~~and ~~over the comparative period in~~ 2020. ~~The~~we ~~interest~~have ~~expense~~been ~~during~~offering ~~the~~new ~~three~~products ~~months~~and ~~ended~~have ~~September~~found ~~30,~~our ~~2021~~entry ~~increased by~~market ~~$8,957~~prices ~~over~~for ~~the~~steel ~~period~~parking ~~ended~~structures ~~September~~have ~~30,~~added ~~2020~~gross ~~due~~margins ~~mostly~~higher tothan ~~the~~usual ~~new~~because ~~convertible~~we ~~loans~~use ~~during~~outside ~~this~~contractors ~~period~~for ~~where accounting treatment requires~~ the ~~recording~~entire ofprojects. ~~prepaid~~Our ~~interest~~gross ~~during~~profit ~~the~~reflects ~~first~~this ~~phase~~decision. ofWe ~~the~~feel ~~loan~~that ~~and~~we ~~because~~have ofmade ~~higher~~progress ~~loans from related parties. This combination of factors resulted~~ in aentering ~~loss~~the ~~for~~parking ~~the~~shade ~~three~~markets ~~months~~and ~~ended~~that ~~September~~our ~~30,~~gross ~~2021~~margins towill ~~$160,112~~stabilize as ~~compared~~growth tolowers athese ~~loss~~margins ofin ~~$427,957 for~~ the ~~three months ended September 30, 2020~~future.

AsTotal ~~noted~~selling, ingeneral ~~previously~~and administrative expenses were $183,327 ~~the~~or ~~Company~~63% ~~could~~of ~~not~~revenues ~~finish~~during ~~its~~the ~~backlog~~three ofmonths ~~work~~ended ~~and~~March ~~expand~~31, ~~into~~2022 ~~the~~and ~~markets~~$166,164 or 64% of ~~LED~~revenues ~~lights~~for ~~and~~the ~~commercial~~three ~~solar~~months ~~markets~~ended ~~without~~March ~~maintaining~~31, ~~staff~~2021, ~~facilities~~respectively. ~~and~~Net ~~sales~~loss ~~expenses. When~~from ~~revenues~~operations ~~fall~~for the three-month period ended March 31, ~~and~~2022 ~~expenses~~was ~~are~~$(85,437) ~~not~~as ~~reduced~~compared ~~proportionately~~to a net loss of $(124,580) for the ~~result~~same isthree-month anperiod ~~increase~~ended inMarch ~~operating~~31, ~~expenses~~2021, ~~proportionate~~respectively. toOur ~~revenue. Operating~~operating expenses for the ~~two~~three ~~periods~~months ~~increased~~ending toMarch ~~accommodate~~31, ~~our~~2022 ~~expansion~~period ofwere ~~sales~~lower ~~programs~~by $17,163 ~~but~~over ~~not~~the comparative period in 2020. The interest expense during the ~~same~~three ~~ratio~~months asended March 31, 2022 increased by $7,155 over the ~~increase~~period inended ~~sales.~~March ~~The~~31, ~~Company~~2021 ~~chose~~due mostly to ~~maintain~~the alack ~~level~~of new convertible loans during this period where accounting treatment requires the recording of ~~expenses~~prepaid ~~that~~interest ~~would~~during ~~not~~the ~~significantly~~first ~~impact~~phase of the ~~Company’s~~loan ~~performance~~and inbecause of higher loans from related parties. This combination of factors decreased the ~~future~~loss for the three months ended March 31, 2022 to $(280,937) as compared to $93,701 for the three months ended March 31, 2021, respectively.

~~RESULTS OF OPERATIONS – OVERVIEW~~ 21

~~FOR~~Table ~~THE~~of ~~NINE MONTHS ENDED SEPTEMBER 30, 2021~~Contents

~~AND~~STATEMENTS ~~SEPTEMBER~~OF 30CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, ~~2020~~2022 AND 2021

~~Our discussion~~AND ofTHE ~~operating~~YEAR ~~results~~ENDED ~~for~~DECEMBER ~~the nine months ended September 30~~31, 2021 and 2020 are presented below with major category details of revenues and expenses including the components of operating expenses. Sales consist of photovoltaic products, electrical services and LED lighting products and installation during both periods.

~~Revenues~~During ~~for~~ the ~~nine~~three months ended ~~September~~March 3031, ~~2021~~2022 ~~and~~our ~~2020~~net ~~were~~cash used by operating activities was $~~998~~(178,~~228~~951) and comparatively the net cash used by operating activities in the three months ended March 31, 2021 was $~~768~~(97,~~133~~106). Net cash used by operating activities in the period ended March 31, ~~respectively. This~~2022 isconsisted anprimarily ~~increase~~of net losses from operations of $~~230~~(280,~~095~~937) orfor ~~30%~~2022 as compared to a loss of ~~the~~$(93,701) ~~2020~~for ~~sales~~2020. ~~The~~Depreciation ~~Solar~~adjustments ~~sales~~of ~~revenue~~non-cash inexpenses ~~2021~~were $4,942 and ~~2020~~$5,967 ~~reflected~~for ~~seasonal~~each ~~and~~period, ~~changing~~respectively. ~~market~~Derivative ~~conditions~~portion inof ~~the~~convertible ~~financing~~debt accounted for charges to income for future changes in value of ~~solar~~the ~~installations~~underlying stock in the ~~Arizona~~amount ~~markets~~of ~~and~~$135,879 for the ~~effects~~period ended March 31, 2022 as compared to derivative liability change of $20,600 in the ~~COVID-19~~three ~~Pandemic~~months period ended March 31, 2021. The Company ~~has~~experienced ~~begun~~an ~~its~~decrease ~~focus~~in onAccounts ~~commercial~~Payable ~~sales~~of in$12,202 ~~2017~~during ~~and~~the ~~has~~three ~~been~~months ~~able~~in 2022 as compared to ~~grow~~an ~~every~~increase ~~period~~of ~~since~~$150,293 ~~that~~for ~~decision~~the comparative period in 2021. ~~The~~This ~~Companyhas~~increase ~~worked~~is ~~diligently~~primarily due to ~~overcome~~ the ~~utility~~Company’s ~~changes~~ability byto ~~focusing~~apply oncash ~~commercial~~receipts ~~applications~~from investors and operations to pay past and current creditors at the end of each period, respectively. Accounts Receivable increased ~~interest~~by $31,959, net of ~~business~~adjustments ~~and~~for ~~government~~contracts in process, during the ~~LED~~period ~~lighting~~ended March 31, 2022 due to increases in contracts as compared to a reduction of $180,353 at March 31, 2021.

24Net cash provided by or (used for) investing activities for the three months ended March 31, 2022 and 2021 was $(2,745) and $1,580 respectively due to receipt of principal on leases paid or terminated and equipment sales and acquisitions.

~~Table~~Net cash provided by financing activities for the three months ended March 31, 2022 and 2021 was $161,093 and $110,511, respectively. Net cash provided by financing activities resulted primarily from the sale of ~~Contents~~Common Stock, loans from a financial institution and loans from a Director, Officer and Directors. Any future conversions will increase the number of shares outstanding and the Stockholders Equity by the amount of the original investment.

~~Cost~~LIQUIDITY ofAND ~~sales~~CAPITAL for the nine months ended September 30, 2021 and 2020 was $619,173 and $715,739, respectively, and 62% and 93% of sales for each period then ended. Gross margins were 38% of revenue for the nine months ended September 30, 2021 and 7% of revenue for the nine months ended September 30, 2020. During 2021 and 2020 we have been offering new products and have found our entry market prices for steel parking structures have added gross margins higher than usual because we use outside contractors for the entire projects. Our gross profit reflects this decision. We feel that we have made progress in entering the parking shade markets and that our gross margins will stabilize as growth lowers these margins in the future.RESOURCES

~~Total~~Our ~~selling,~~primary ~~general~~liquidity and ~~administrative~~capital ~~expenses~~requirements ~~were~~have ~~$697,591~~been orfor ~~70%~~carrying cost of ~~revenues~~accounts ~~during~~receivable ~~the~~after ~~nine~~completion ~~months~~of ~~ended~~contracts. ~~September~~The ~~30,~~industry ~~2021~~typically ~~and~~requires ~~$655,269~~solar orcontractors ~~85%~~to ofwait ~~revenues~~ for the ~~nine~~utility ~~months~~approval ~~ended~~in ~~September~~order ~~30,~~to ~~2020 Net~~be ~~losses~~paid ~~from~~for ~~operations~~contracts. ~~for~~This ~~the~~process ~~nine~~can ~~month~~exceed ~~period~~90 ~~ended~~days ~~September~~and ~~30,~~sometimes ~~2021~~requires ~~was~~the ~~$318,563~~Company as ~~compared~~the contractor to apay ~~net~~all ~~loss~~or most of ~~$602,875 for~~ the ~~same~~cost ~~nine~~of ~~month~~projects ~~period~~without ~~ended~~assistance ~~September~~from ~~30, 2020~~suppliers. Our ~~operating~~working ~~expenses~~capital ~~for~~deficit ~~the~~at ~~nine~~March ~~months~~31, ~~ending~~2022 ~~September~~was 30$(1,636,595) ~~2021~~and ~~period~~it ~~were~~was ~~lower by~~ $42(1,~~322~~439,632) ~~over~~at ~~the~~December ~~comparative~~31, ~~period in 2020~~2021. ~~The~~This ~~interest~~decrease ~~expense~~of ~~during~~$196,963 ~~the~~was ~~nine~~primarily ~~months~~due ~~ended~~to ~~September~~losses ~~30,~~from ~~2021~~operations ~~increased~~during ~~by $9,526 over~~ the ~~period~~three months ended ~~September~~March 3031, ~~2020~~2022. ~~due~~Bank ~~mostly~~financing tohas ~~the~~not ~~new~~been ~~convertible~~available ~~loans~~to ~~during~~the ~~this~~Company, ~~period~~but ~~where~~we ~~accounting~~have ~~treatment~~been ~~requires~~able ~~the~~to ~~recording~~increase ofour ~~prepaid~~credit ~~interest~~lines ~~during~~with ~~the~~our ~~first~~suppliers ~~phase of the loan and~~ because of ~~higher~~good ~~loans from related parties~~credit. ~~This~~ ~~combination~~There ofare ~~factors~~no ~~decreased~~material ~~the~~covenants ~~loss~~on ~~for~~our ~~the~~credit ~~nine~~lines, ~~months~~normally ~~ended~~due ~~September~~in 30, ~~2021~~days tosince ~~$209,295~~they asare ~~compared~~standard toin ~~$799,162~~the ~~for~~industry and the ~~nine~~balances ~~months~~vary ~~ended~~daily. ~~September~~Most ~~30,~~are ~~2020,~~personally ~~respectively,~~guaranteed aby ~~reduction~~the Officer of ~~$589,867~~the Company.

AsThe ~~noted~~total inborrowings ~~previously,~~from ~~the~~Directors ~~Company~~and ~~could~~officers ~~not~~totaled ~~finish~~$596,168 ~~its~~including ~~backlog~~accrued ofinterest ~~work and expand into the markets~~ of ~~LED~~$198,512 ~~lights~~at ~~and~~March ~~commercial solar markets without maintaining staff~~31, ~~facilities and sales expenses~~2022. ~~When~~ ~~revenues~~There ~~fall, and expenses~~ are ~~not~~no ~~reduced~~existing ~~proportionately,~~agreements ~~the~~or ~~result~~arrangement iswith anany ~~increase~~Director ~~in operating expenses proportionate~~ to ~~revenue. Operating~~provide ~~expenses~~additional ~~for~~funds ~~the two periods increased~~ to ~~accommodate our expansion of sales programs, but not in~~ the ~~same ratio as the increase in sales. ABCO chose to maintain a level of expenses that would not significantly impact the~~ Company~~’s performance in the future~~.

~~STATEMENTS~~During OFthe ~~CASH~~three ~~FLOWS~~and ~~FOR~~twelve ~~THE~~months ~~NINE~~ended ~~MONTHS~~March ~~ENDED~~31, ~~SEPTEMBER~~2022 30and December 31, 2021 ~~AND~~there ~~2020~~were no transactions, or proposed transactions, which have materially affected or will materially affect the Company in which any director, executive officer, or beneficial holder of more than 5% of the outstanding common, or any of their respective relatives, spouses, associates, or affiliates, has had or will have any direct or material indirect interest. We have no policy regarding entering into transactions with affiliated parties.

~~During~~PLAN ~~the~~OF nine months ended September 30, 2021 our net cash used by operating activities was $(372,337) and compared to net cash used by operating activities in the nine months ended September 30, 2020 of $(116,093). Depreciation adjustments of non-cash expenses were $16,841 and $6,591 for each period, respectively. We accounted for a change in derivative liability of $49,623 for the period ended September 30, 2021. The Company experienced a decrease in Accounts Payable and accrued liabilities of $81,600 and $6,861 for each period, respectively. The increase is primarily due to the Company’s ability to apply cash receipts from investors and operations to pay past and current creditors at the end of each period, respectively. Accounts Receivable decreased by $89,781, net of adjustments for contracts in process, during the period ended September 30, 2021 due to increases in contracts compared to September 30, 2020.OPERATIONS

~~Net~~Based ~~cash~~on ~~provided~~our bycurrent orfinancial ~~(used~~position, we cannot anticipate whether we will have sufficient working capital to sustain operations for) ~~investing~~the ~~activities~~next ~~nine~~year ~~months~~if ~~ended~~we ~~September~~do ~~30,~~not ~~2021~~raise ~~and~~additional ~~2020~~capital. ~~was~~We $2will not,~~315~~ however, be able to reach our goals and ~~$(10,129)~~projections ~~respectively~~for ~~due~~multistate expansion without a cash infusion. We have been able to ~~receipt~~raise sufficient capital through the sale of ~~principal~~our common shares and we have incurred substantial increases in debt from our trade creditors in the normal course of business. Management will not expand the business until adequate working capital is provided. Our ability to maintain sufficient liquidity is dependent on ~~leases~~our ~~paid~~ability to attain profitable operations or ~~terminated~~to ~~and~~raise ~~equipment~~additional ~~sales~~capital. We have no anticipated timeline for obtaining neither additional financing nor the expansion of our business. We will continue to keep our expenses as low as possible and ~~acquisitions~~keep our operations in line with available working capital as long as possible. There is no guarantee that the Company will be able to obtain adequate capital from any sources, or at all.

Net cash provided by financing activities nine months ended September 30, 2021 and 2020 was $319,286 and $150,246, respectively. Net cash provided by financing activities resulted primarily from the sale of Common Stock, loans from a financial institution and loans from an Officer and Director. Any future conversions will increase the number of shares outstanding and the Stockholders Equity by the amount of the original investment.22

~~LIQUIDITY~~Table ~~AND~~of ~~CAPITAL RESOURCES~~Contents

Our primary liquidity and capital requirements have been for carrying cost of accounts receivable after completion of contracts. The industry typically requires solar contractors to wait for the utility approval in order to be paid for contracts. This process can exceed 90 days and sometimes requires the Company as the contractor to pay all or most of the cost of projects without assistance from suppliers. Our working capital deficit at September 30, 2021 was $(1,251,205) and it was $(1,509,716) at December 31, 2020. This decrease of $258,511 was primarily due to gains from conversion of debt from current to long term or discounting the debt on payoff. Also, the decrease is caused by reductions in overall debt from $1,926,206 at December 31, 2020 to $1,548,051 at September 30, 2021. Losses from operations during the nine months ended September 30, 2021 also decreased from $(799,162) to $(209,295) for the same period ended September 30, 2020. Bank financing has not been available to the Company, but we have been able to increase our credit lines with our suppliers because of good credit. There are no material covenants on our credit lines, normally due in 30 days since they are standard in the industry and the balances vary daily. Most are personally guaranteed by the CEO of the Company.

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The total funds borrowed from Directors and officers totaled $285,816 plus accrued interest of $121,638 at September 30, 2021. There are no existing agreements or arrangement with any Director to provide additional funds to the Company.

During the nine months ended September 30, 2021 and year ended December 31, 2020 there were no transactions, or proposed transactions, which have materially affected or will materially affect the Company in which any director, executive officer, or beneficial holder of more than 5% of the outstanding common, or any of their respective relatives, spouses, associates, or affiliates, has had or will have any direct or material indirect interest. We have no policy regarding entering into transactions with affiliated parties.

PLAN OF OPERATIONS

Based on our current financial position, we cannot anticipate whether we will have sufficient working capital to sustain operations for the next year if we do not raise additional capital. We will not, however, be able to reach our goals and projections for multistate expansion without a cash infusion. We have been able to raise sufficient capital through the sale of our common shares and we have incurred substantial increases in debt from our trade creditors in the normal course of business. Management will not expand the business until adequate working capital is provided. Our ability to maintain sufficient liquidity is dependent on our ability to attain profitable operations or to raise additional capital. We have no anticipated timeline for obtaining neither additional financing nor the expansion of our business. We will continue to keep our expenses as low as possible and keep our operations in line with available working capital as long as possible. There is no guarantee that the Company will be able to obtain adequate capital from any sources, or at all.

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Item 3. Quantitative and Qualitative Disclosures about Market Risk

Not Applicable to Smaller Reporting Companies.

Item 4. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures.

As of the end of the reporting period, ~~September~~March 3031, ~~2021~~2022, we carried out an evaluation, under the supervision and with the participation of our management, including the Company’s Chairman and Chief Executive Officer/Principal Accounting Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-15(e) of the Securities Exchange Act of 1934 (the “Exchange Act”), which disclosure controls and procedures are designed to insure that information required to be disclosed by a company in the reports that it files under the Exchange Act is recorded, processed, summarized and reported within required time periods specified by the SEC’s rules and forms. Based upon that evaluation, the Chairman/CEO and the Chief Financial Officer concluded that our disclosure controls and procedures are not currently effective in timely alerting them to material information relating to the Company required to be included in the Company’s period SEC filings. The Company is attempting to expand such controls and procedures, however, due to a limited number of resources the complete segregation of duties is not currently in place.

(b) Changes in Internal Control.

Subsequent to the date of such evaluation as described in subparagraph (a) above, there were no changes in our internal controls or other factors that could significantly affect these controls, including any corrective action with regard to significant deficiencies and material weaknesses.

Our management, including our Principal Executive Officer and Principal Financial Officer, does not expect that our disclosure controls or internal controls over financial reporting will prevent all errors or all instances of fraud. However, we believe that our disclosure controls and procedures are designed to provide reasonable assurance of achieving this objective. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Controls can also be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and any design may not succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures. Because of the inherent limitation of a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

2723

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PART II-OTHER INFORMATION

Item 1. Legal Proceedings

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have, individually or in the aggregate, a material adverse effect on our business, consolidated financial condition, or operating results.

Item 1A. Risk Factors

Not Applicable.

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

Item 3. Defaults upon Senior Securities

None

Item 4. Mine Safety Disclosures.

Not Applicable.

Item 5. Other Information

Not Applicable.

2824

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Item 6. Exhibits

Exhibit No.		Description of Exhibit
3(i)		Articles of Incorporation, as amended (1)
3(ii)		By-Laws (1)
10(b)		12% $40,000 Convertible Note dated March 16, 2016 (4)
10(c)		8% $25,000 Convertible Note dated March 23, 2016 (4)
10(d)		10% $55,000 Convertible Note dated April 1, 2016 (5)
10(e)		5% $42,000 Convertible Note dated April 5, 2016 (5)
10(f)		10% $40,000 Convertible Note dated May 3, 2016 (5)
10(g)		8% $30,000 Convertible Note dated May 6, 2016 (5)
21		Subsidiaries of Registrant (1)
31.1		Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (2)
31.2		Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (2)
32.1		Certifications of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (2)
32.2		Certifications of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (2)
99.1		Engagement Agreement between Adams Fund LLC and ABCO Energy, Inc., dated September 15, 2015 (3)
99.2		Secured Promissory Note dated April 1, 2021 in favor of an affiliate of the Registrant’s President (6)
99.3		SBA Letter of Forgiveness of the 7/21/2020 SBA Guaranteed Note to The Bank of America (6)
101 INS		Inline XBRL Instance Document
101 SCH		Inline XBRL Taxonomy Extension Schema Document
101 CAL		Inline XBRL Taxonomy Calculation Linkbase Document
101 DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101 LAB		Inline XBRL Taxonomy Labels Linkbase Document
101 PRE		Inline XBRL Taxonomy Labels Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
(1)		Previously filed with the Company’s Form 10-12G, SEC File No. 000-55235 filed on July 1, 2014, and incorporated herein by this reference as an exhibit to this Form 10-K.
(2)		Attached.
(3)		Previously filed with the Company’s Form 8-K filed on September 17, 2015, and incorporated herein by this reference as an exhibit to this Form 10-K.
(4)		Previously filed with the Company’s Form 10-K, File No. 000-55235, filed with the Commission on April 11, 2016 and incorporated herein by this reference.
(5)		Previously filed with the Company’s Form 10-Q, File No. 000-55235, filed with the Commission on May 20, 2016 and incorporate herein by this reference.
(6)		Previously filed with the Company Form 10-K, File No. 000-55235, filed with the Commission on April 15, 2021 and incorporated herein by this reference.

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

Exhibit No.		Description of Exhibit

3(i)		Articles of Incorporation, as amended (1)
3(ii)		By-Laws (1)
10(b)		12% $40,000 Convertible Note dated March 16, 2016 (4)
10(c)		8% $25,000 Convertible Note dated March 23, 2016 (4)
10(d)		10% $55,000 Convertible Note dated April 1, 2016 (5)
10(e)		5% $42,000 Convertible Note dated April 5, 2016 (5)
10(f)		10% $40,000 Convertible Note dated May 3, 2016 (5)
10(g)		8% $30,000 Convertible Note dated May 6, 2016 (5)
21		Subsidiaries of Registrant (1)
31.1		Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (2)
31.2		Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. (2)
32.1		Certifications of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (2)
32.2		Certifications of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (2)
99.1		Engagement Agreement between Adams Fund LLC and ABCO Energy, Inc., dated September 15, 2015 (3)
99.2		Secured Promissory Note dated April 1, 2021 in favor of an affiliate of the Registrant’s President (6)
99.3		SBA Letter of Forgiveness of the 7/21/2020 SBA Guaranteed Note to The Bank of America (6)
101 INS		Inline XBRL Instance Document
101 SCH		Inline XBRL Taxonomy Extension Schema Document
101 CAL		Inline XBRL Taxonomy Calculation Linkbase Document
101 DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101 LAB		Inline XBRL Taxonomy Labels Linkbase Document
101 PRE		Inline XBRL Taxonomy Labels Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
(1)		Previously filed with the Company’s Form 10-12G, SEC File No. 000-55235 filed on July 1, 2014, and incorporated herein by this reference as an exhibit to this Form 10-K.
(2)		Attached.
(3)		Previously filed with the Company’s Form 8-K filed on September 17, 2015, and incorporated herein by this reference as an exhibit to this Form 10-K.
(4)		Previously filed with the Company’s Form 10-K, File No. 000-55235, filed with the Commission on April 11, 2016 and incorporated herein by this reference.
(5)		Previously filed with the Company’s Form 10-Q, File No. 000-55235, filed with the Commission on May 20, 2016 and incorporate herein by this reference.
(6)		Previously filed with the Company Form 10-K, File No. 000-55235, filed with the Commission on April 15, 2021 and incorporated herein by this reference.

~~Table of Contents~~25

~~SIGNATURES~~Table of Contents

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

InPursuant ~~accordance~~to ~~with~~the requirements of the Securities Exchange Act of 1934, ~~this~~the ~~report~~registrant has ~~been~~duly ~~signed~~caused ~~below~~this byreport ~~the~~or ~~following~~amendment ~~persons~~thereto onto ~~behalf~~be ofsigned ~~the~~on ~~Registrant~~its ~~and~~behalf inby the ~~capacities~~undersigned ~~and~~thereunto onduly ~~the dates indicated~~authorized.

~~November~~In 22accordance with the Exchange Act, ~~2021~~this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

~~ABCO~~May ~~ENERGY~~23, ~~INC /s/ David Shorey David Shorey Title: President & Chief Executive Officer (CEO) /s/ David Shorey David Shorey Chief Financial Officer (CFO) Principal Accounting Officer (PAO)~~2022

30ABCO ENERGY, INC /s/ David Shorey David Shorey Title: President & Chief Executive Officer (CEO) /s/David Shorey David Shorey Chief Financial Officer (CFO) Principal Accounting Officer (PAO)

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