BIOETHICS, LTD.
|
|
(Exact
name of registrant as specified in charter)
|
|
NEVADA
|
87-0485312
|
(State
or other jurisdiction of incorporation or organization)
|
(I.R.S.
Employer Identification No.)
|
1137 N. 120 W., American Fork,
Utah
|
84003
|
(Address
of principal executive offices)
|
(Zip
Code)
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(505) 681-4210
|
|
(Issuer’s
telephone number, including area code)
|
|
Large
accelerated filer o
|
Accelerated
filer o
|
|
Non-accelerated
filer o
|
(Do
not check if a smaller
|
Smaller
reporting company x
|
reporting
company)
|
High Bid
|
Low Bid
|
||
2009
|
|||
First
Quarter
|
$
0.31
|
$
0.0
|
|
Second
Quarter
|
0.10
|
0.0
|
|
Third
Quarter
|
0.10
|
0.0
|
|
Fourth
Quarter
|
0.11
|
0.0
|
|
2008
|
|||
First
Quarter
|
$
0.55
|
$
0.51
|
|
Second
Quarter
|
0.55
|
0.55
|
|
Third
Quarter
|
0.55
|
0.55
|
|
Fourth
Quarter
|
0.55
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0.31
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Name
|
Age
|
Term
Of
Office
|
Positions Held
|
Jed
Beck
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27
|
2010
|
President,
Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and
Director
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Title
of Class
|
Beneficial
Owner (1)
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Amount
|
Percentage
Ownership
|
|
Principal
Stockholders
|
||||
Common
Stock
|
Mark
J. Cowan
(2)
|
2,500,000
|
23.0%
|
|
Common
Stock
|
Angela
Torp(3)
|
600,000
|
5.5%
|
|
Common
Stock
|
Windsor
Development(4)
|
2,000,000
|
18.2%
|
|
Officers
and Directors
|
||||
Common
Stock
|
Jed
Beck
|
0
|
-
|
|
Common
Stock
|
All
Executive Officers
|
|||
And
Directors as a Group
(One
Person)
|
0
|
-
|
|
(1) Unless
otherwise indicated, all shares are held beneficially and of record by the
person indicated.
|
|
(2) The
address of Mark J. Cowan is 8092 Juniper Court, South Weber, Utah
84405.
|
|
(3) The
address of Angela Torp is 7070 D Breakneck Circle, Ft. Stewart, Georgia
31315.
|
|
(4) The
address of Windsor Development is 2522 Alice Drive, West Jordan, Utah
84084.
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|
Year
Ended
|
||||||||
December
31,
|
||||||||
2009
|
2008
|
|||||||
Audit
Fees
|
$
|
8,320
|
$
|
8,431
|
||||
Audit-Related
Fees
|
0
|
0
|
||||||
Tax
Fees
|
300
|
300
|
||||||
All
Other Fees
|
0
|
0
|
||||||
Total
|
$
|
8,620
|
$
|
8,731
|
Exhibit
Number
|
SEC
Reference Number
|
Title
of Document
|
Location
|
|||
3.1
|
3
|
Articles
of Incorporation
|
Incorporated
by Reference*
|
|||
3.2
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3
|
Bylaws
|
Incorporated
by Reference*
|
|||
31.1
|
31
|
Section
302 Certification of Chief Executive and Chief Financial
Officer
|
This
Filing
|
|||
32.1
|
32
|
Section
1350 Certification of Chief Executive and Chief Financial
Officer
|
This
Filing
|
Bioethics,
Ltd.
|
|
(Registrant)
|
|
Date: March
29, 2010
|
By
/s/ Jed Beck
|
Jed
Beck
|
|
President,
Chief Executive Officer and
|
|
Chief
Financial Officer
|
Date: March
29, 2010
|
By
/s/ Jed Beck
|
Jed
Beck
|
|
President,
Chief Executive Officer, Chief Financial
|
|
Officer
and Director
|
|
(Principal
Executive and Accounting Officer)
|
BIOETHICS,
LTD.
|
||
[A
Development Stage Company]
|
||
CONTENTS
|
||
PAGE
|
||
—
|
Report
of Independent Registered Public Accounting Firm
|
3
|
Balance
Sheets, December 31, 2009 and 2008
|
4
|
|
—
|
Statements
of Operations, for the years ended December 31, 2009 and 2008 and from
|
|
inception
on July 26, 1990 through December 31, 2009
|
5
|
|
—
|
Statement
of Stockholders' Equity (Deficit), from inception on
|
|
July
26, 1990 through December 31, 2009
|
6
-7
|
|
—
|
Statements
of Cash Flows, for the years ended December 31, 2009 and
2008
|
|
and
from inception on July 26, 1990 and from inception on July 26,
1990
|
8
|
|
—
|
Notes
to Financial Statements
|
9 –
13
|
BIOETHICS,
LTD.
[A
Development Stage Company]
|
||||||||
BALANCE
SHEETS
|
||||||||
December
31,
|
December
31,
|
|||||||
2009
|
2008
|
|||||||
CURRENT
ASSETS
|
||||||||
Cash
|
$
|
3,257
|
$
|
1,818
|
||||
Total
Current Assets
|
3,257
|
1,818
|
||||||
$
|
3,257
|
$
|
1,818
|
|||||
CURRENT
LIABILITIES
|
||||||||
Accounts
payable
|
$
|
8,424
|
$
|
2,820
|
||||
Total
Current Liabilities
|
8,424
|
2,820
|
||||||
STOCKHOLDERS’
EQUITY (DEFICIT):
|
||||||||
Common
stock; $.001 par value,
25,000,000 shares authorized, 11,000,000
shares issued and
outstanding
|
11,000
|
11,000
|
||||||
Capital
in excess of par value
|
92,776
|
75,000
|
||||||
Deficit
accumulated during the development stage
|
(108,943)
|
(87,002)
|
||||||
Total
Stockholders’ Equity (Deficit)
|
(5,176)
|
(1,002)
|
||||||
$
|
3,257
|
$
|
1,818
|
|||||
The
accompanying notes are an integral part of these financial
statements.
|
BIOETHICS,
LTD.
|
||||||||
[A
Development Stage Company]
|
||||||||
STATEMENTS
OF OPERATIONS
|
||||||||
For
the
|
From
Inception
|
|||||||
Year
Ended
|
On
July 26, 1990
|
|||||||
December
31,
|
Through
Dec. 31
|
|||||||
2009
|
2008
|
2009
|
||||||
REVENUE
|
$
|
-
|
$
|
-
|
$
|
-
|
||
EXPENSES:
|
||||||||
General
and administrative
|
21,941
|
11,823
|
108,943
|
|||||
LOSS
BEFORE INCOME TAXES
|
(21,941)
|
(11,823)
|
(108,943)
|
|||||
CURRENT
TAX EXPENSE
|
-
|
-
|
-
|
|||||
DEFERRED
TAX EXPENSE
|
-
|
-
|
-
|
|||||
NET
LOSS
|
$
|
(21,941)
|
$
|
(11,823)
|
$
|
(108,943)
|
||
LOSS
PER COMMON SHARE
|
$
|
(0.00)
|
$
|
(0.00)
|
||||
The accompanying notes are an integral part of these financial statements. |
Deficit
|
||||||||||
Accumulated
|
||||||||||
Capital
in
|
During
the
|
|||||||||
Common
Stock
|
Excess
of
|
Development
|
||||||||
Shares
|
Amount
|
Par
Value
|
Stage
|
|||||||
BALANCE,
July 26, 1990
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
|||
Issuance
of 1,000,000 shares of common stock
|
||||||||||
for
cash at $.001 per share, July 1990
|
1,000,000
|
1,000
|
-
|
-
|
||||||
Net
loss for the period ended December 31, 1990
|
-
|
-
|
-
|
(1,000)
|
||||||
BALANCE, December 31,
1990
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1991
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1991
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1992
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1992
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1993
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1993
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1994
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1994
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1995
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1995
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1996
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1996
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Net
loss for the year ended December 31, 1997
|
-
|
-
|
-
|
-
|
||||||
BALANCE, December 31,
1997
|
1,000,000
|
1,000
|
-
|
(1,000)
|
||||||
Issuance
of 10,000,000 shares of common stock
|
||||||||||
for
cash at $.004 per share, May 1998
|
10,000,000
|
10,000
|
30,000
|
-
|
||||||
Net
loss for the year ended December 31, 1998
|
-
|
-
|
-
|
(5,335)
|
||||||
BALANCE, December 31,
1998
|
11,000,000
|
11,000
|
30,000
|
(6,335)
|
||||||
Net
loss for the year ended December 31, 1999
|
-
|
-
|
-
|
(5,531)
|
||||||
BALANCE, December 31,
1999
|
11,000,000
|
11,000
|
30,000
|
(11,866)
|
||||||
Net
loss for the year ended December 31, 2000
|
-
|
-
|
-
|
(6,266)
|
Deficit
|
||||||||||
Accumulated
|
||||||||||
Capital
in
|
During
the
|
|||||||||
Common
Stock
|
Excess
of
|
Development
|
||||||||
Shares
|
Amount
|
Par
Value
|
Stage
|
|||||||
BALANCE,
December 31, 2000
|
11,000,000
|
11,000
|
30,000
|
(18,132)
|
||||||
Net
loss for the year ended December 31, 2001
|
-
|
-
|
-
|
(6,758)
|
||||||
BALANCE,
December 31, 2001
|
11,000,000
|
11,000
|
30,000
|
(24,890)
|
||||||
Net
loss for the year ended December 31, 2002
|
-
|
-
|
-
|
(5,081)
|
||||||
BALANCE,
December 31, 2002
|
11,000,000
|
11,000
|
30,000
|
(29,971)
|
||||||
Net
loss for the year ended December 31, 2003
|
-
|
-
|
-
|
(5,893)
|
||||||
BALANCE,
December 31, 2003
|
11,000,000
|
11,000
|
30,000
|
(35,864)
|
||||||
Net
loss for the year ended December 31, 2004
|
-
|
-
|
-
|
(5,858)
|
||||||
BALANCE,
December 31, 2004
|
11,000,000
|
11,000
|
30,000
|
(41,722)
|
||||||
Capital
contribution by shareholder
|
-
|
-
|
20,000
|
-
|
||||||
Net
loss for the year ended December 31, 2005
|
-
|
-
|
-
|
(6,795)
|
||||||
BALANCE,
December 31, 2005
|
11,000,000
|
11,000
|
50,000
|
(48,517)
|
||||||
Capital
contribution by shareholder
|
-
|
-
|
10,000
|
-
|
||||||
Net
loss for the year ended December 31, 2006
|
-
|
-
|
-
|
(15,641)
|
||||||
BALANCE,
December 31, 2006
|
11,000,000
|
11,000
|
60,000
|
(64,158)
|
||||||
Capital
contribution by shareholder
|
-
|
-
|
15,000
|
-
|
||||||
Net
loss for the year ended December 31, 2007
|
-
|
-
|
-
|
(11,021)
|
||||||
BALANCE,
December 31, 2007
|
11,000,000
|
11,000
|
75,000
|
(75,179)
|
||||||
Net
loss for the year ended December 31, 2008
|
-
|
-
|
-
|
(11,823)
|
||||||
BALANCE,
December 31, 2008
|
11,000,000
|
11,000
|
75,000
|
(87,002)
|
||||||
Capital
contribution by shareholder
|
-
|
-
|
17,776
|
-
|
||||||
Net
loss for the year ended December 31, 2009
|
-
|
-
|
-
|
(21,941)
|
||||||
BALANCE,
December 31, 2009
|
11,000,000
|
$
|
11,000
|
$
|
92,776
|
$
|
(108,943)
|
|||
BIOETHICS,
LTD.
[A
Development Stage Company]
|
||||||||||||
STATEMENTS
OF CASH FLOWS
|
||||||||||||
From
Inception
|
||||||||||||
on
July 26
|
||||||||||||
For
the Year Ended
|
1990
Through
|
|||||||||||
December
31,
|
December
31,
|
|||||||||||
2009
|
2008
|
2009
|
||||||||||
Cash
Flows from Operating Activities:
|
||||||||||||
Net
loss
|
$
|
(21,941)
|
$
|
(11,823)
|
$
|
(108,943)
|
||||||
Adjustments
to reconcile net loss to net cash
used
by operating activities:
|
||||||||||||
Changes
in assets and liabilities:
|
||||||||||||
Increase
(decrease) in accounts payable
|
5,604
|
1,114
|
8,424
|
|||||||||
Net
Cash (Used) by Operating Activities
|
(16,337)
|
(10,709)
|
(100,519)
|
|||||||||
Cash
flows from Investing Activities:
|
-
|
-
|
-
|
|||||||||
Net
Cash Provided by Investing Activities
|
-
|
-
|
-
|
|||||||||
Cash
Flows from Financing Activities:
|
||||||||||||
Capital contribution | 17,776 | - | 62,776 | |||||||||
Proceeds
from common stock issuance
|
-
|
-
|
41,000
|
|||||||||
Net
Cash Provided by Financing Activities
|
17,776
|
-
|
103,776
|
|||||||||
Net
Increase (Decrease) in Cash
|
1,439
|
(10,709)
|
3,257
|
|||||||||
Cash
at Beginning of Period
|
1,818
|
12,527
|
-
|
|||||||||
Cash
at End of Period
|
$
|
3,257
|
$
|
1,818
|
$
|
3,257
|
||||||
Supplemental
Disclosures of Cash Flow Information:
|
||||||||||||
Cash
paid during the period for:
|
||||||||||||
Interest
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Income
Taxes
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Supplemental
schedule of Non-cash Investing and Financing Activities:
|
||||||||||||
For
the year ended December 31, 2009:
|
||||||||||||
None
|
||||||||||||
For
the year ended December 31, 2008:
|
||||||||||||
None
|
||||||||||||
The
accompanying notes are an integral part of these financial
statements.
|
2009
|
2008
|
||||
Deferred
tax assets:
|
|||||
NOL
Carryover
|
$
|
16,200
|
$
|
12,900
|
|
Valuation
allowance
|
(16,200)
|
(12,900)
|
|||
Net
deferred tax asset
|
$
|
-
|
$
|
-
|
2009
|
2008
|
||||
Book
Loss (15% statutory rate)
|
$
|
(3,300)
|
$
|
(1,800)
|
|
Valuation
allowance
|
3,300
|
1,800
|
|||
Tax
at effective rate
|
$
|
-
|
$
|
-
|
For
the
|
|||||
Years
Ended
|
|||||
December
31,
|
|||||
2009
|
2008
|
||||
Loss
from continuing operations
|
|||||
applicable
to common
|
|||||
stockholders
(numerator)
|
$
|
(21,941)
|
$
|
(11,823)
|
|
Weighted
average number of
|
|||||
common
shares outstanding
|
|||||
used
in loss per share during
|
|||||
the
period (denominator)
|
11,000,000
|
11,000,000
|