Table      of Contents

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

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

| SINOCUBATE,                INC.                                                      |
|--------------------------------------------------------------------------------------|
| (Exact                name of registrant as specified in its                charter) |

| Nevada                                                                        |   |   | 98-0199508                                       |
|-------------------------------------------------------------------------------|--------|--------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) |   |   | (IRS                Employer Identification No.) |

| 65                Broadway, Suite 501New                York, New York |   | 10006                     |
|------------------------------------------------------------------------|--------|---------------------------|
| (Address                of principal executive offices)                |   | (Zip                Code) |

| Issuer’s                telephone number |   | (212)                359 4300 |
|------------------------------------------------|--------|-------------------------------|

| SYNTHENOL                INCSuite                206 – 388 Drake StreetVancouver,                British Columbia, Canada V6B 6A8 |
|-----------------------------------------------------------------------------------------------------------------------------------------|
| (Former                name, former address and former fiscal year, if changed since last                report)                        |

| Yes |                x | No |                o |
|-----|-----------------------|----|-----------------------|

| Large                Accelerated Filer |                o | Accelerated                Filer         |                o |
|----------------------------------------|-----------------------|------------------------------------------|-----------------------|
| Non                Accelerated Filer   |                o | Smaller                Reporting Company |                x |

| Yes |                o | No   x |
|-----|-----------------------|-----------------------|

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Table          of Contents

| Yes |                o | No           o    Not                Applicable |
|-----|-----------------------|----------------------------------------------------------------------------------------------------------------------------|

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Table          of Contents

SINOCUBATE

| PART                  I – FINANCIAL INFORMATION | -                  4                  -                                                                                       |
|-------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|
| ITEM                  1.                              | FINANCIAL                  STATEMENTS                                                                                         | -                  4                  - |
| ITEM                  2.                              | MANAGEMENT’S                  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION                  AND RESULTS OF OPERATIONS | -                  14 - |
| ITEM                  3.                              | QUANTITATIVE                  AND QUALITATIVE DISCLOSURES ABOUT MARKET                  RISK                                  | -                  15 - |
| ITEM                  4.                              | CONTROLS                  AND PROCEDURES                                                                                      | -                  16 - |
| PART                  II – OTHER INFORMATION    | -                  16 -                                                                                                       |
| ITEM                  1.                              | LEGAL                  PROCEEDINGS                                                                                            | -                  16 - |
| ITEM                  1A.                             | RISK                  FACTORS                                                                                                 | -                  16 - |
| ITEM                  2.                              | UNREGISTERED                  SALES OF EQUITY SECURITIES AND USE OF                  PROCEEDS                                 | -                  16 - |
| ITEM                  3.                              | DEFAULTS                  UPON SENIOR SECURITIES                                                                              | -                  16 - |
| ITEM                  4.                              | SUBMISSION                  OF MATTERS TO A VOTE OF SECURITY                  HOLDERS                                         | -                  16 - |
| ITEM                  5.                              | OTHER                  INFORMATION                                                                                            | -                  16 - |
| ITEM                  6.                              | EXHIBITS                                                                                                                      | -                  17 - |

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Table          of Contents

PART

| ITEM                1. | FINANCIAL                STATEMENTS |
|------------------------|-------------------------------------|

**SINOCUBATE,      INC.**

----

**SINOCUBATE,        INC.**

|                                                                                                                                              |   | September                  30, |       | December                  31, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|------------|-------------------------------|--------|
|                                                                                                                                              |   | 2008                           |       | 2007                          |   |
| **ASSETS**                                                                                                                                        |   | Unaudited                      |       |                          |   |
| Current                                                                                                                                           |   |                      |       |                          |   |
| Cash                                                                                                                                              |   | $                              | —    |                          | $      | 66,273 |   |
|                                                                                                                                              |   |                           |            |                          |   |  |   |
| **LIABILITIES                  AND STOCKHOLDERS’ DEFICIT**                                                                                  |   |                           |            |                          |   |  |   |
|                                                                                                                                              |   |                           |            |                          |   |  |   |
| Current                                                                                                                                           |   |                           |            |                          |   |  |   |
| Accounts                  payable and accrued liabilities                                                                                         |   | $                              | —    |                          | $      | 133,508 |   |
| Notes                  payable (Notes 3)                                                                                                          |   |                           | —    |                          |   | 309,079 |   |
|                                                                                                                                              |   |                           |            |                          |   |  |   |
|                                                                                                                                                   |   |                           | —--  |                          |   | 442,587 |   |
|                                                                                                                                              |   |                           |            |                          |   |  |   |
| Capital                  stock                                                                                                                    |   |                           |            |                          |   |  |   |
| Preferred                  stock, $0.01 par value, 5,000,000 shares authorized, no shares                  issued or                  outstanding |   |                           |            |                          |   |  |   |
| Common                  stock, $0.01 par value, 100,000,000 shares authorized 995,655 shares                  issued and outstanding              |   |                           | 9,956      |                          |   | 7,315 |   |
| Treasury                  stock                                                                                                                   |   |                           | —    |                          |   | (270 | ) |
| Additional                  paid-in capital                                                                                                       |   |                           | 2,241,681  |                          |   | 1,974,187 |   |
| Accumulated                  other comprehensive income                                                                                           |   |                           | 6,018      |                          |   | 5,213 |   |
| Deficit                                                                                                                                           |   |                           | (1,305,454 | )                             |   | (1,305,454 | ) |
| Deficit                  accumulated during the development stage                                                                                 |   |                           | (952,201   | )                             |   | (1,057,305 | ) |
|                                                                                                                                              |   |                           |            |                          |   |  |   |
|                                                                                                                                                   |   |                           | —    |                          |   | (376,314 | ) |
|                                                                                                                                              |   |                           |            |                          |   |  |   |
|                                                                                                                                                   |   | $                              | —    |                          | $      | 66,273 |   |

----

**SINOCUBATE,        INC.**

|                                                                                                      |   | Three                  months ended |    | Nine                  months ended |   | January                  1, 2004 (Date of Inception of theDevelopment                  Stage) to |   |
|-----------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|------------------------------------|--------|--------------------------------------------------------------------------------------------------|--------|
|                                                                                                      |   | September                  30,      |    | September                  30      |   | September                  30,                                                                   |   |
|                                                                                                      |   | 2008                                |    | 2007                               |   | 2008                                                                                             |   | 2007 |   | 2008 |   |
| General                  and administrative expenses                                                      |   |                                |    |                               |   |                                                                                             |   |   |   |   |   |
| Amortization                                                                                              |   | $                                   | — |                               | $      | —                                                                                          |   | $ | — |   | $ | — |   | $ | 27,077 |   |
| Bad                  debt                                                                                 |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 525 |   |
| Corporate                  promotion                                                                      |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 13,920 |   |
| Finance                  charges                                                                          |   |                                | 10      |                               |   | —                                                                                          |   |   | 16,112 |   |   | 7,034 |   |   | 27,397 |   |
| Insurance                                                                                                 |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 15,901 |   |
| Interest                  on notes payable                                                                |   |                                | 3,234   |                               |   | —                                                                                          |   |   | 11,220 |   |   | — |   |   | 34,648 |   |
| Management                  and consultant fees                                                           |   |                                | 14,774  |                               |   | 26,850                                                                                           |   |   | 65,755 |   |   | 78,764 |   |   | 290,354 |   |
| Office                  supplies and services                                                             |   |                                | 91      |                               |   | 4,739                                                                                            |   |   | 3,428 |   |   | 319 |   |   | 49,845 |   |
| Professional                  fees                                                                        |   |                                |    |                               |   | 2,602                                                                                            |   |   | 18,810 |   |   | 22,659 |   |   | 254,017 |   |
| Rent                                                                                                      |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 16,311 |   |
| Wages                                                                                                     |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 84,258 |   |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Loss                  before other items                                                                  |   |                                | (18,109 | )                                  |   | (34,191                                                                                          | )      |   | (130,325 | ) |   | (108,776 | ) |   | (814,253 | ) |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Other                  items                                                                              |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Loss                  on disposition of equipment                                                         |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | (15,028 | ) |
| Write-down                  of intangible assets                                                          |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | (50,001 | ) |
| Write-off                  of payables                                                                    |   |                                | 37,040  |                               |   | —                                                                                          |   |   | 73,607 |   |   | — |   |   | 73,607 |   |
| Write-off                  of notes payable                                                               |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 14,823 |   |
| Gain                  on settlement of lawsuit                                                            |   |                                | — |                               |   | —                                                                                          |   |   | — |   |   | — |   |   | 44,445 |   |
| Gain                  on sale of investment                                                               |   |                                | 31,874  |                               |   | —                                                                                          |   |   | 31,874 |   |   | — |   |   | 31,874 |   |
| Other                  income                                                                             |   |                                | 36,512  |                               |   | —                                                                                          |   |   | 36,512 |   |   | — |   |   | 36,512 |   |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Income                  (loss) from continuing operations                                                 |   |                                | 87,317  |                               |   | (34,191                                                                                          | )      |   | 26,668 |   |   | (108,776 | ) |   | (678,021 | ) |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Gain                  (Loss) discontinued operations                                                      |   |                                |    |                               |   | —                                                                                          |   |   | 78,436 |   |   | (1,300 | ) |   | (274,180 | ) |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Net                  income (loss)                                                                        |   | $                                   | 87,317  |                               | $      | (34,191                                                                                          | )      | $ | 105,104 |   | $ | (110,076 | ) | $ | (952,201 | ) |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Basic                  and diluted loss per common share                                                  |   | $                                   | 0.12    |                               | $      | (0.05                                                                                            | )      | $ | 0.15 |   | $ | (0.15 | ) |   | — |   |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Weighted                  average number of common share outstanding - basic and                  diluted |   |                                | 752,039 |                               |   | 731,521                                                                                          |   |   | 709,866 |   |   | 731,521 |   |   | — |   |
|                                                                                                      |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Comprehensive                  loss                                                                       |   |                                |         |                               |   |                                                                                                  |   |   |   |   |   |  |   |   |  |   |
| Net                  income (loss)                                                                        |   | $                                   | 87,317  |                               | $      | (34,191                                                                                          | )      | $ | 105,104 |   | $ | (110,076 | ) | $ | (952,201 | ) |
| Foreign                  currency translation adjustment                                                  |   |                                | (15     | )                                  |   | (10,177                                                                                          | )      |   | 805 |   |   | (16,837 | ) |   | 6,018 |   |
| Total                  comprehensive loss                                                                 |   | $                                   | 87,302  |                               | $      | (44,368                                                                                          | )      | $ | 105,909 |   | $ | (126,913 | ) | $ | (946,183 | ) |

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**SINOCUBATE,        INC.**

|                                                                                                          |   |   |                               |   |   |                           |   |   | January                  1, 2004    |   |
|---------------------------------------------------------------------------------------------------------------|--------|--------|------------------------------------|--------|--------|--------------------------------|--------|--------|-------------------------------------|--------|
|                                                                                                          |   |   |                               |   |   |                           |   |   | (Date                  of Inception |   |
|                                                                                                          |   |   |                               |   |   |                           |   |   | of                  the Development |   |
|                                                                                                          |   |   | Nine                  months ended |   |   | Stage)                  to     |   |
|                                                                                                          |   |   | September                  30,     |   |   | September                  30, |   |
|                                                                                                          |   |   | 2008                               |   |   | 2007                           |   |   | 2008                                |   |
| Cash                flows from operating activities                                                           |   |   |                               |   |   |                           |   |   |                                |   |
| Net                  income (loss)                                                                            |   | $      | 105,104                            |   | $      | (110,076                       | )      | $      | (952,201                            | )      |
| Adjustments                  to reconcile net loss to net cash used in operating                  activities: |   |   |                               |   |   |                                |   |   |                                |   |
| Finance                  charges                                                                              |   |   | 16,102                             |   |   | —                        |   |   | 27,387                              |   |
| Accrued                  interest on notes payable                                                            |   |   | 7,986                              |   |   | 83,619                         |   |   | 31,414                              |   |
| Amortization                                                                                                  |   |   | —                            |   |   | —                        |   |   | 27,077                              |   |
| Accrued                  Expense                                                                              |   |   | 17,306                             |   |   | —                        |   |   | 17,306                              |   |
| Foreign                  exchange effect on notes payable                                                     |   |   | (2,798                             | )      |   | —                        |   |   | 5,303                               |   |
| Issuance                  of common stock for services                                                        |   |   |                               |   |   | —                        |   |   | 1,000                               |   |
| Stock-based                  compensation                                                                     |   |   |                               |   |   | —                        |   |   | 4,460                               |   |
| Loss                  on disposition of equipment                                                             |   |   |                               |   |   | —                        |   |   | 225,184                             |   |
| Write-down                  of intangible assets                                                              |   |   |                               |   |   | —                        |   |   | 360,001                             |   |
| Write-off                  of payables                                                                        |   |   | (73,607                            | )      |   | —                        |   |   | (73,607                             | )      |
| Write-off                  of notes payable                                                                   |   |   |                               |   |   | —                        |   |   | (18,729                             | )      |
| Gain                  on settlement of lawsuit                                                                |   |   |                               |   |   | —                        |   |   | (44,445                             | )      |
| Gain                  on sale of subsidiaries                                                                 |   |   | (78,436                            | )      |   |                                |   |   | (108,121                            | )      |
| Gain                  on Sale of investment (Note 5)                                                          |   |   | (31,874                            | )      |   |                           |   |   | (31,874                             | )      |
| Other                  Income                                                                                 |   |   | (36,512                            | )      |   |                           |   |   | (36,512                             | )      |
| Changes                  in non-cash working capital items:                                                   |   |   |                               |   |   |                                |   |   |                                     |   |
| Prepaid                  expenses and deposits                                                                |   |   |                               |   |   | —                        |   |   |                                |   |
| Accounts                  payable and accrued liabilities                                                     |   |   | 10,013                             |   |   | 4,578                          |   |   | 143,521                             |   |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                |   |
| Cash                  used in continuing operations                                                           |   |   | (66,716                            | )      |   | (21,879                        | )      |   | (422,837                            | )      |
| Discontinued                  operations (Note 5)                                                             |   |   | (362                               | )      |   | —                        |   |   | (171,213                            | )      |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                     |   |
| Net                  cash used in operating activities                                                        |   |   | (67,078                            | )      |   | (21,879                        | )      |   | (594,050                            | )      |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                |   |
| Cash                  flows from investing activities                                                         |   |   |                               |   |   |                                |   |   |                                |   |
| Proceeds                  from sale of subsidiary                                                             |   |   |                               |   |   | —                        |   |   | 1                                   |   |
| Proceeds                  from assets disposition                                                             |   |   | —                            |   |   | —                        |   |   | 5,458                               |   |
| Purchase                  of equipment                                                                        |   |   |                               |   |   | —                        |   |   | (5,808                              | )      |
| Net                  cash used in investing activities                                                        |   |   | —                            |   |   | —                        |   |   | (349                                | )      |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                |   |
| Cash                  flows from financing activities                                                         |   |   |                               |   |   |                                |   |   |                                |   |
| Settlement                  of notes payable                                                                  |   |   | —                            |   |   | 30,000                         |   |   | 398,614                             |   |
| Proceeds                  from issuance of common stock                                                       |   |   | —                            |   |   | —                        |   |   | 1000                                |   |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                     |   |
| Net                  cash provided by financing activities                                                    |   |   | —                            |   |   | 30,000                         |   |   | 399,614                             |   |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                |   |
| Effect                  of exchange rate changes on cash                                                      |   |   | 805                                |   |   | (6,673                         | )      |   | (14,734                             | )      |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                     |   |
| Change                  in cash and cash equivalents                                                          |   |   | (67,078                            | )      |   | (8,716                         | )      |   | (209,518                            | )      |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                     |   |
| Cash,                  beginning                                                                              |   |   | 66,273                             |   |   | 13,462                         |   |   | 209,518                             |   |
|                                                                                                          |   |   |                               |   |   |                                |   |   |                                     |   |
| Cash,                  ending                                                                                 |   | $      | —                            |   | $      | 4,746                          |   | $      | —                             |   |

----

**SINOCUBATE,        INC.**

|                                                                |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   |        |   |   |        |   |   | Deficit                     |   |   |     |   |
|---------------------------------------------------------------------|--------|--------|--------------------------------|--------|--------|----------|--------|--------|---------|--------|--------|---------------|--------|--------|---------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-----------------------------|--------|--------|----------|--------|
|                                                                |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   | Accumulated |   |   |        |   |   | Accumulated                 |   |   |     |   |
|                                                                |   |   |                           |   |   |     |   |   |    |   |   | Additional    |   |   |          |   |   | Other       |   |   |        |   |   | During                  the |   |   |     |   |
|                                                                |   |   | Common                  Shares |   |   | Treasury |   |   | Paid-in |   |   | Subscriptions |   |   | Comprehensive |   |   |        |   |   | Development |   |   |                        |   |
|                                                                |   |   | Number                         |   |   | Amount   |   |   | Stock   |   |   | Capital       |   |   | Received      |   |   | Income      |   |   | Deficit     |   |   | Stage                       |   |   | Total    |   |
|                                                                |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   |        |   |   |        |   |   |                        |   |   |     |   |
| May                  3, 1989 ( Inception) through December 31, 1997 |   |   | 60,022                         |   | $      | 600      |   | $      | — |   | $      | 9,400         |   | $      | —       |   | $      | —     |   | $      | (10,000     | )      | $      | —                     |   | $      | —  |   |
| Net                  loss                                           |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | (148,931    | )      |   | —                     |   |   | (148,931 | )      |
| Shares                  issued for cash                             |   |   | 180,000                        |   |   | 1,800    |   |   | — |   |   | 148,200       |   |   | 2,000         |   |   | —     |   |   | —     |   |   | —                     |   |   | 152,000  |   |
| Balance                  at December 31, 1998                       |   |   | 240,022                        |   |   | 2,400    |   |   | — |   |   | 157,600       |   |   | 2,000         |   |   | —     |   |   | (158,931    | )      |   | —                     |   |   | 3,069    |   |
| Net                  loss                                           |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | (511,587    | )      |   | —                     |   |   | (511,587 | )      |
| Foreign                  currency translation adjustment            |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | (14,130     | )      |   | —     |   |   | —                     |   |   | (14,130  | )      |
| Share                  issued for services                          |   |   | 15,000                         |   |   | 150      |   |   | — |   |   | 124,850       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 125,000  |   |
| Subscription                  receivable                            |   |   | 12,000                         |   |   | 120      |   |   | — |   |   | 99,880        |   |   | 8,000         |   |   | —     |   |   | —     |   |   | —                     |   |   | 108,000  |   |
| Share                  issued for intangible assets                 |   |   | 15,000                         |   |   | 150      |   |   | — |   |   | 124,850       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 125,000  |   |
| Balance                  at December 31, 1999                       |   |   | 282,022                        |   |   | 2,820    |   |   | — |   |   | 507,180       |   |   | 10,000        |   |   | (14,130     | )      |   | (670,518    | )      |   | —                     |   |   | (164,648 | )      |
| Net                  loss                                           |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | (339,063    | )      |   | —                     |   |   | (339,063 | )      |
| Foreign                  currency translation adjustment            |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | 18,885      |   |   | —     |   |   | —                     |   |   | 18,885   |   |
| Shares                  issued for cash                             |   |   | 21,600                         |   |   | 216      |   |   | — |   |   | 259,784       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 260,000  |   |
| Shares                  issued for settlement of debt               |   |   | 4,500                          |   |   | 45       |   |   | — |   |   | 174,955       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 175,000  |   |
| Subscription                  receivable                            |   |   | 600                            |   |   | 6        |   |   | — |   |   | 9,994         |   |   | (200          | )      |   | —     |   |   | —     |   |   | —                     |   |   | 9,800    |   |
| Subscription                  received                              |   |   | 30,000                         |   |   | 300      |   |   | — |   |   | 499,700       |   |   | (9,350        | )      |   | —     |   |   | —     |   |   | —                     |   |   | 490,650  |   |
| Stock                  option benefit                               |   |   | —                        |   |   | —  |   |   | — |   |   | 14,235        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 14,235   |   |
| Balance                  at December 31, 2000                       |   |   | 338,722                        |   |   | 3,387    |   |   | — |   |   | 1,465,848     |   |   | 450           |   |   | 4,755       |   |   | (1,009,581  | )      |   | —                     |   |   | 464,859  |   |
| Net                  loss                                           |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | 375,621     |   |   | —                     |   |   | 375,621  |   |
| Foreign                  currency translation adjustment            |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | 13,629      |   |   | —     |   |   | —                     |   |   | 13,629   |   |
| Shares                  issued for cash                             |   |   | 300                            |   |   | 3        |   |   | — |   |   | 2,247         |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 2,250    |   |
| Subscription                  received                              |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | 200           |   |   | —     |   |   | —     |   |   | —                     |   |   | 200      |   |
| Stock                  option benefit                               |   |   | —                        |   |   | —  |   |   | — |   |   | 118,920       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 118,920  |   |
| Repurchase                  of common stock for treasury            |   |   | —                        |   |   | —  |   |   | (270    | )      |   | (6,611        | )      |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | (6,881   | )      |
| Balance                  at December 31, 2001                       |   |   | 339,022                        |   |   | 3,390    |   |   | (270    | )      |   | 1,580,404     |   |   | 650           |   |   | 18,384      |   |   | (633,960    | )      |   | —                     |   |   | 968,598  |   |
| Net                  loss                                           |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   |             |   |   | (63,864     | )      |   | —                     |   |   | (63,864  | )      |
| Foreign                  currency translation adjustment            |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   |               |   |   | (1,155      | )      |   |             |   |   | —                     |   |   | (1,155   | )      |
| Shares                  issued for cash                             |   |   | 4,500                          |   |   | 45       |   |   | — |   |   | 33,705        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 33,750   |   |
| Balance                  at December 31, 2002                       |   |   | 343,522                        |   | $      | 3,435    |   | $      | (270    | )      | $      | 1,614,109     |   | $      | 650           |   | $      | 17,229      |   | $      | (697,824    | )      | $      | —                     |   | $      | 937,329  |   |

----

**SINOCUBATE,        INC.**

|                                                           |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   |        |   |   |        |   |   | Deficit                     |   |   |     |   |
|----------------------------------------------------------------|--------|--------|--------------------------------|--------|--------|----------|--------|--------|---------|--------|--------|---------------|--------|--------|---------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-----------------------------|--------|--------|----------|--------|
|                                                           |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   | Accumulated |   |   |        |   |   | Accumulated                 |   |   |     |   |
|                                                           |   |   |                           |   |   |     |   |   |    |   |   | Additional    |   |   |          |   |   | Other       |   |   |        |   |   | During                  the |   |   |     |   |
|                                                           |   |   | Common                  Shares |   |   | Treasury |   |   | Paid-in |   |   | Subscriptions |   |   | Comprehensive |   |   |        |   |   | Development |   |   |                        |   |
|                                                           |   |   | Number                         |   |   | Amount   |   |   | Stock   |   |   | Capital       |   |   | Received      |   |   | Income      |   |   | Deficit     |   |   | Stage                       |   |   | Total    |   |
|                                                           |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   |        |   |   |        |   |   |                        |   |   |     |   |
| Balance                  at December 31, 2002                  |   |   | 343,521                        |   |   | 3,435    |   |   | (270    | )      |   | 1,614,109     |   |   | 650           |   |   | 17,229      |   |   | (697,824    | )      |   | —                     |   |   | 937,329  |   |
| Net                  loss                                      |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | (607,630    | )      |   | —                     |   |   | (607,630 | )      |
| Foreign                  currency translation adjustment       |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | 1,752       |   |   | —     |   |   | —                     |   |   | 1,752    |   |
| Stock                  option benefit                          |   |   | —                        |   |   | —  |   |   | — |   |   | 11,800        |   |   |               |   |   | —     |   |   | —     |   |   | —                     |   |   | 11,800   |   |
| Cancellation                  of agreement                     |   |   | —                        |   |   | —  |   |   | — |   |   |               |   |   | (650          | )      |   | —     |   |   | —     |   |   | —                     |   |   | (650     | )      |
| Share                  issues for cash on exercise of options  |   |   | 12,000                         |   |   | 120      |   |   | — |   |   | 11,880        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 12,000   |   |
| Share                  issues for consulting services          |   |   | 45,000                         |   |   | 450      |   |   | — |   |   | 49,675        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 50,125   |   |
| Share                  issues for intangible assets            |   |   | 60,000                         |   |   | 600      |   |   | — |   |   | 104,400       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 105,000  |   |
| Share                  issued for software                     |   |   | 60,000                         |   |   | 600      |   |   | — |   |   | 53,400        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 54,000   |   |
| Balance                  at December 31, 2003                  |   |   | 520,521                        |   |   | 5,205    |   |   | (270    | )      |   | 1,845,264     |   |   | —       |   |   | 18,981      |   |   | (1,305,454  | )      |   | —                     |   |   | 563,726  |   |
| Net                  loss                                      |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | —     |   |   | (795,364                    | )      |   | (795,364 | )      |
| Foreign                  currency translation adjustment       |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | (238        | )      |   | —     |   |   | —                     |   |   | (238     | )      |
| Stock-based                  compensation                      |   |   | —                        |   |   | —  |   |   | — |   |   | 4,460         |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 4,460    |   |
| Shares                  issued for cash on exercise of options |   |   | 1,000                          |   |   | 10       |   |   | — |   |   | 990           |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 1,000    |   |
| Share                  issued for debt                         |   |   | 140,000                        |   |   | 1,400    |   |   | — |   |   | 68,600        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 70,000   |   |
| Share                  issued for consulting services     |   |   | 2,000                          |   |   | 20       |   |   | — |   |   | 980           |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 1,000    |   |
| Balance                  at December 31, 2004                  |   |   | 663,522                        |   |   | 6,635    |   |   | (270    | )      |   | 1,920,294     |   |   | —       |   |   | 18,743      |   |   | (1,305,454  | )      |   | (795,364                    | )      |   | (155,416 | )      |
| Net                  loss                                      |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | —     |   |   | (54,416                     | )      |   | (54,416  | )      |
| Foreign                  currency translation adjustment       |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | (702        | )      |   | —     |   |   | —                     |   |   | (702     | )      |
| Share                  issues for consulting services          |   |   | 18,000                         |   |   | 180      |   |   | — |   |   | 8,820         |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 9,000    |   |
| Balance                  at December 31, 2005                  |   |   | 681,522                        |   |   | 6,815    |   |   | (270    | )      |   | 1,929,114     |   |   | —       |   |   | 18,041      |   |   | (1,305,454  | )      |   | (849,780                    | )      |   | (201,534 | )      |
| Net                  loss                                      |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | —     |   |   | (36,575                     | )      |   | (36,575  | )      |
| Foreign                  currency translation adjustment       |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | 563         |   |   | —     |   |   | —                     |   |   | 563      |   |
| Share                  issues for debt                         |   |   | 50,000                         |   |   | 500      |   |   | — |   |   | 24,500        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 25,000   |   |
| Balance                  at December 31, 2006                  |   |   | 731,522                        |   | $      | 7,315    |   | $      | (270    | )      | $      | 1,953,614     |   | $      | —       |   | $      | 18,604      |   | $      | (1,305,454  | )      | $      | (886,355                    | )      | $      | (212,546 | )      |

----

**SINOCUBATE,        INC.**

|                                                       |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   |        |   |   |        |   |   | Deficit                     |   |   |     |   |
|------------------------------------------------------------|--------|--------|--------------------------------|--------|--------|----------|--------|--------|---------|--------|--------|---------------|--------|--------|---------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-----------------------------|--------|--------|----------|--------|
|                                                       |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   | Accumulated |   |   |        |   |   | Accumulated                 |   |   |     |   |
|                                                       |   |   |                           |   |   |     |   |   |    |   |   | Additional    |   |   |          |   |   | Other       |   |   |        |   |   | During                  the |   |   |     |   |
|                                                       |   |   | Common                  Shares |   |   | Treasury |   |   | Paid-in |   |   | Subscriptions |   |   | Comprehensive |   |   |        |   |   | Development |   |   |                        |   |
|                                                       |   |   | Number                         |   |   | Amount   |   |   | Stock   |   |   | Capital       |   |   | Received      |   |   | Income      |   |   | Deficit     |   |   | Stage                       |   |   | Total    |   |
|                                                       |   |   |                           |   |   |     |   |   |    |   |   |          |   |   |          |   |   |        |   |   |        |   |   |                        |   |   |     |   |
| Balance                  at December 31, 2006              |   |   | 731,522                        |   | $      | 7,315    |   | $      | (270    | )      | $      | 1,953,614     |   | $      | —       |   | $      | 18,604      |   | $      | (1,305,454  | )      | $      | (886,355                    | )      | $      | (212,546 | )      |
| Net                  loss                                  |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | —     |   |   | (170,950                    | )      |   | (170,950 | )      |
| Discount                  on notes payable                 |   |   | —                        |   |   | —  |   |   | — |   |   | 20,573        |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 20,573   |   |
| Foreign                  currency translation adjustment   |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | (13,391     | )      |   | —     |   |   | —                     |   |   | (13,391  | )      |
| Balance                  at December 31, 2007              |   |   | 731,522                        |   |   | 7,315    |   |   | (270    | )      |   | 1,974,187     |   |   | —       |   |   | 5,213       |   |   | (1,305,454  | )      |   | (1,057,305                  | )      |   | (376,314 | )      |
| Issuance                  of new shares                    |   |   | 284,637                        |   |   | 2,846    |   |   | — |   |   | 267,559       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 270,405  |   |
| Cancellation                  of shares                    |   |   | (20,504                        | )      |   | (205     | )      |   | 270     |   |   | —       |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | 65       |   |
| Shares                  cancelled                          |   |   | —                        |   |   | —  |   |   | — |   |   | -65           |   |   | —       |   |   | —     |   |   | —     |   |   | —                     |   |   | -65      |   |
| Net                  income                                |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | —     |   |   | —     |   |   | 105,104                     |   |   | 105,103  |   |
| Foreign                  currency translation adjustment   |   |   | —                        |   |   | —  |   |   | — |   |   | —       |   |   | —       |   |   | 805         |   |   | —     |   |   | —                     |   |   | 806      |   |
| Balance                  at September 30, 2008 (Unaudited) |   |   | 995,655                        |   | $      | 9,956    |   | $      | — |   | $      | 2,241,681     |   | $      | —       |   | $      | 6,018       |   | $      | (1,305,454  | )      | $      | (952,201                    | )      | $      | —  |   |

----

**SINOCUBATE,        INC.**

|                                                                  |   |   |                               |   |   |                           |   |   | January                  1, 2004  |   |
|-----------------------------------------------------------------------|--------|--------|------------------------------------|--------|--------|--------------------------------|--------|--------|-----------------------------------|--------|
|                                                                  |   |   |                               |   |   |                           |   |   | (Date                  of         |   |
|                                                                  |   |   |                               |   |   |                           |   |   | Inception                  of the |   |
|                                                                  |   |   |                               |   |   |                           |   |   | Development                       |   |
|                                                                  |   |   | Nine                  months ended |   |   | Stage)                  to     |   |
|                                                                  |   |   | September                  30,     |   |   | September                  30, |   |
|                                                                  |   |   | 2008                               |   |   | 2007                           |   |   | 2008                              |   |
|                                                                  |   |   |                               |   |   |                           |   |   |                              |   |
| Amortization                                                          |   | $      | —                            |   | $      | —                        |   | $      | 57,051                            |   |
| Bad                  debts                                            |   |   | —                            |   |   | —                        |   |   | 20,388                            |   |
| Management                  and consulting fees                       |   |   | —                            |   |   | —                        |   |   | 57,557                            |   |
| Professional                  fees                                    |   |   | —                            |   |   | —                        |   |   | 5,606                             |   |
| Office                  supplies and services                         |   |   | 362                                |   |   | 1,300                          |   |   | 16,193                            |   |
| Rent                                                                  |   |   | —                            |   |   | —                        |   |   | 17,269                            |   |
| Royalty,                  software and advertising                    |   |   | —                            |   |   | —                        |   |   | 69,251                            |   |
| Wage                                                                  |   |   | —                            |   |   | —                        |   |   | 105,659                           |   |
|                                                                  |   |   |                                    |   |   |                                |   |   |                                   |   |
| Write-down                  of intangible assets                      |   |   | —                            |   |   | —                        |   |   | (155,000                          | )      |
| Forgiveness                  of debts                                 |   |   | —                            |   |   | —                        |   |   | 359,008                           |   |
| Loss                  on disposition of equipment                     |   |   | —                            |   |   | —                        |   |   | (105,078                          | )      |
| Incidental                  revenue                                   |   |   | —                            |   |   | —                        |   |   | 33,043                            |   |
|                                                                  |   |   |                                    |   |   |                                |   |   |                                   |   |
| Operating                  income (loss) from discontinued operations |   |   | (362                               | )      |   | (1,300                         | )      |   | 131,973                           |   |
|                                                                  |   |   |                                    |   |   |                                |   |   |                                   |   |
| Gain                  on disposition of subsidiary                    |   |   | 78,436                             |   |   | —                        |   |   | 108,121                           |   |
|                                                                  |   |   |                                    |   |   |                                |   |   |                                   |   |
| Net                  income (loss)                                    |   | $      | 78,074                             |   | $      | (1,300                         | )      | $      | (108,880                          | )      |
|                                                                  |   |   |                                    |   |   |                                |   |   |                                   |   |

----

Table          of Contents

| Note                1 | Interim                Financial                Statements |
|-----------------------|------------------------------------------------------------|

| Note                2 | Nature                and Continuance                of Operations |
|-----------------------|--------------------------------------------------------------------|

----

Table          of Contents

| Note                3 | Debt                Conversion |
|-----------------------|--------------------------------|

----

Table          of Contents

| Note                5 | Discontinued                Operations |
|-----------------------|----------------------------------------|

| Proceeds                                                                   |   | $      | 1      |   |
|----------------------------------------------------------------------------|--------|--------|--------|--------|
| Liabilities                  assumed by purchaser of Casino Marketing S.A. |   |   | 8,169  |   |
| Liabilities                  assumed by purchaser of 564448 BC Ltd.        |   |   | 70,267 |   |
|                                                                       |   |   |   |   |
| Gain                  on sale of subsidiaries                              |   |   | 78,437 |   |

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

----

Table          of Contents

| ITEM                3. | QUANTITATIVE                AND QUALITATIVE DISCLOSURES ABOUT MARKET                RISK |
|------------------------|------------------------------------------------------------------------------------------|

----

Table          of Contents

| ITEM                4. | CONTROLS                AND PROCEDURES |
|------------------------|----------------------------------------|

PART      II

| ITEM1. | LEGAL                PROCEEDINGS |
|--------|----------------------------------|

| ITEM1A. | RISK                FACTORS |
|---------|-----------------------------|

| ITEM2. | UNREGISTERED                SALES OF EQUITY SECURITIES AND USE OF                PROCEEDS. |
|--------|--------------------------------------------------------------------------------------------|

| ITEM3. | DEFAULTS                UPON SENIOR SECURITIES |
|--------|------------------------------------------------|

| ITEM4. | SUBMISSION                OF MATTERS TO A VOTE OF SECURITY                HOLDERS |
|--------|-----------------------------------------------------------------------------------|

| ITEM5. | OTHER                INFORMATION |
|--------|----------------------------------|

----

Table          of Contents

| ITEM6. | EXHIBITS |
|--------|----------|

| Exhibit                Number | Description                                                                                                                                                                                                                                                                                                                                     |
|-------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1*                          | Agreement                and Plan of Merger between Synthenol, Inc. and SinoCubate, Inc dated                as of                September 29, 2008 [Filed as attachment to an Information Statement                on                Schedule 14C filed with the SEC on September 30, 2008].                                             |
| 10.1*                         | Stock                Purchase Agreement among Synthenol, Inc., certain shareholders of                Synthenol, Inc. and Viking Investments Group LLC dated as of August                15,                2008 [Filed as Exhibit 10.1 to a Current Report on Form 8-K filed                with SEC                on August 21, 2008].  |
| 31.1                          | Rule                13a-14(a)/15d-14(a) Certification of Chief                Executive Officer                                                                                                                                                                                                                                            |
| 31.2                          | Rule                13a-14(a)/15d-14(a) Certification of Chief                Financial Officer                                                                                                                                                                                                                                            |
| 32.1                          | Certificate                of Chief Executive Officer and Chief                Financial Officer pursuant to 18 U.S.C. Section 1350                                                                                                                                                                                                        |
| 99.1*                         | Letter                Agreement between Synthenol, Inc. and Viking Investments Group, LLC                dated                as of September 22, 2008 [Filed as Exhibit 99.1 to a Current Report                on                Form 8-K filed with SEC on September 24, 2008]                                                          |

| /s/                Richard Xu                                   |   | Date:                November 19, 2008 |
|-----------------------------------------------------------------|--------|----------------------------------------|
| Richard                XuPresident                and Treasurer |   |                                   |
|                                                            |   |                                   |
| /s/                Tom Simeo                                    |   | Date:                November 19, 2008 |
| Tom                SimeoChief                Executive Officer  |   |                                   |

----