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| 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                                                      | 84403 |
| (Address      of principal executive offices)                                                 | (Zip      Code) |
|                                                                                          |   |
| (505) 681-4210                                                                                |
| (Issuer’s      telephone number, including area code)                                   |
|                                                                                          |   |
| Not Applicable                                                                                |
| (Former      name, former address, and former fiscal year, if changed since last      report) |

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|                                                                                                                     |
|--------------------------------------------------------------------------------------------------------------------------|
| BIOETHICS,      LTD.                                                                                                     |
| FORM      10-Q                                                                                                           |
|                                                                                                                     |
| FOR      THE QUARTER ENDED JUNE 30, 2010                                                                                 |
|                                                                                                                     |
| INDEX                                                                                                                    |
|                                                                                                                     |   |
| PART I   Financial      Information                                                                            |   |
|                                                                                                                     |   |   |
| Item 1.    UnauditedCondensed Financial    Statements                                                |   |
|                                                                                                                     | Unaudited Condensed      Balance Sheets | 3 |
|                                                                                                                     | Unaudited Condensed Statements      of Operations | 4 |
|                                                                                                                     | Unaudited Condensed Statements      of Cash Flows | 5 |
|                                                                                                                     | Notes      to Unaudited Condensed Financial Statements | 6 |
|                                                                                                                     |   |
| Item      2.  Management’s Discussion and Analysis of Financial      Condition and Results of Operations | 9 |
|                                                                                                                     |   |
| Item      3.  Quantitative and Qualitative Disclosures About Market      Risk                                  | 11 |
|                                                                                                                     |   |
| Item      4T.  Controls and Procedures                                                                         | 11 |
|                                                                                                                     |   |
| PART II Other Information                                                                                                |   |
|                                                                                                                     |   |
| Item 1.  Legal      Proceedings                                                                                | 12 |
|                                                                                                                     |   |
| Item 1A.  Risk      Factors                                                                                    | 12 |
|                                                                                                                     |   |
| Item      2.  Unregistered Sales of Equity Securities and Use of      Proceeds                                 | 12 |
|                                                                                                                     |   |
| Item      3.  Defaults Upon Senior Securities                                                                  | 12 |
|                                                                                                                     |   |
| Item      4.  (Removed and Reserved)                                                                           | 12 |
|                                                                                                                     |   |
| Item 5.  Other      Information                                                                                | 12 |
|                                                                                                                     |   |
| Item      6.  Exhibits                                                                                         | 12 |
|                                                                                                                     |   |
| SIGNATURE                                                                                                                | 13 |

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| BIOETHICS,      LTD.                                                                                                                     |
|------------------------------------------------------------------------------------------------------------------------------------------|
| [A      Development Stage Company]                                                                                                       |
| UNAUDITED      CONDENSED BALANCE SHEETS                                                                                                  |
|                                                                                                                                     |
|                                                                                                                                     |  June      30, |   |  December      31, |
|                                                                                                                                     |  2010 |   |  2009 |
| CURRENT      ASSETS                                                                                                                      |   |   |   |   |   |
|    Cash                                                                                                                   | $  |          17,268 |   | $  |           3,257 |
|                                                                                                                                     |   |   |   |   |   |
|              Total      Current Assets                                  |   | 17,268 |   |   | 3,257 |
|                                                                                                                                     |   |   |   |   |   |
|                                                                                                                                     | $  |       17,268 |   | $  |       3,257 |
|                                                                                                                                     |   |   |   |   |   |
| CURRENT      LIABILITIES                                                                                                                 |   |   |   |   |   |
|    Accounts      payable                                                                                                  | $  |         6,210 |   | $  |         8,424 |
|    Accrued      Interest Payable                                                                                          |   | 674 |   |   | - |
|    Note      Payable – Stockholder                                                                                  |   | 25,000 |   |   | - |
|                                                                                                                                     |   |   |   |   |   |
|              Total      Current Liabilities                             |   | 31,884 |   |   | 8,424 |
|                                                                                                                                     |   |   |   |   |   |
|             Total Liabilities                                                                              |   | 31,884 |   |   | 8,424 |
|                                                                                                                                     |   |   |   |   |   |
| 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 |   |   | 92,776 |
|    Deficit      accumulated during the development stage                                                                  |   | (118,392) |   |   | (108,943) |
|                                                                                                                                     |   |   |   |   |   |
|              Total      Stockholders’ Equity (Deficit)            |   | (14,616) |   |   | (5,167) |
|                                                                                                                                     |   |   |   |   |   |
|                                                                                                                                     | $  |      17,268 |   | $  |       3,257 |
|                                                                                                                                     |
| Note:      The balance sheet at December 31, 2009 was taken from the audited      financial statements at that date and condensed.  |
| The      accompanying notes are an integral part of these unaudited condensed      financial statements.                                 |

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| BIOETHICS,      LTD.                                                                                    |
|---------------------------------------------------------------------------------------------------------|
| [A      Development Stage Company]                                                                      |
|                                                                                                    |
| UNAUDITED      CONDENSED STATEMENTS OF OPERATIONS                                                       |
|                                                                                                    |
|                                                                                                    |   | For      the Three |   |   | For      the Six |   |   | From      Inception |
|                                                                                                    |   | Months      Ended |   |   | Months      Ended |   |   | On      July 26, 1990 |
|                                                                                                    |   | June      30, |   |   | June      30, |   |   | Through      June 30, |
|                                                                                                    |   | 2010 |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |   | 2010 |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUE                                                                                                 | $  |               - |   | $  |              - |   | $  |               - |   | $  |              - |   | $  |                         - |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EXPENSES:                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    General      and administrative                                                       |   | 3,265 |   |   | 4,096 |   |   | 8,775 |   |   | 12,783 |   |   |       117,718 |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS      BEFORE OTHER                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   INCOME      (EXPENSE)                                                                       |   | (3,265) |   |   | (4,096) |   |   | (8,775) |   |   | (12,783) |   |   | (117,718) |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OTHER      INCOME (EXPENSE)                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Interest      Expense                                                                 |   | (374) |   |   | - |   |   | (674) |   |   | - |   |   | (674) |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS      BEFORE INCOME TAXES                                                                           |   | (3,639) |   |   | (4,096) |   |   | (9,449) |   |   | (12,783) |   |   | (118,392) |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CURRENT      TAX EXPENSE                                                                                |   | - |   |   | - |   |   | - |   |   | - |   |   |             - |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| DEFERRED      TAX EXPENSE                                                                               |   | -  |   |   | -  |   |   | -  |   |   | - |   |   |             -  |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET      LOSS                                                                                           | $  |     (3,639) |   |  $ |     (4,096) |   | $  |     (9,449) |   | $  |    (12,783) |   | $  |            (118,392) |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS      PER COMMON SHARE                                                                              | $  |       (0.00) |   | $  |      (0.00) |   | $  |       (0.00) |   | $  |      (0.00) |   |   |   |
|                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                    |
| The      accompanying notes are an integral part of these unaudited condensed      financial statements |
|                                                                                                    |

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| BIOETHICS,      LTD.                                                                                                   |
|------------------------------------------------------------------------------------------------------------------------|
| [A      Development Stage Company]                                                                                     |
| UNAUDITED      CONDENSED STATEMENTS OF CASH FLOWS                                                                      |
|                                                                                                                   |   |   |   |
|                                                                                                                   |   |   | From      Inception |
|                                                                                                                   |   |   | on      July 26 |
|                                                                                                                   |   | For      the Six Months Ended |   |   | 1990      Through |
|                                                                                                                   |   | June      30, |   |   | June      30, |
|                                                                                                                   |   | 2010 |   |   | 2009 |   |   | 2010 |
| Cash      Flows from Operating Activities:                                                                             |   |   |   |   |   |   |   |   |
|    Net      loss                                                                                        | $  |            (9,449) |   | $  | $          (12,783) |   | $  | $        (118,392) |
|    Adjustments      to reconcile net loss to net cash                                                   |   |   |   |   |   |   |   |   |
|       used      by operating activities:                                                 |   |   |   |   |   |   |   |   |
|          Changes      in assets and liabilities:                          |   |   |   |   |   |   |   |   |
|            Increase      (decrease) in accounts payable         |   | (2,214) |   |   | 1,966 |   |   | 6,210 |
|            Increase      (decrease) in accrued interest         |   | 674 |   |   | - |   |   | 674 |
|                                                                                                                   |   |   |   |   |   |   |   |   |
|             Net      Cash (Used) by Operating Activities   |   |            (10,989) |   |   | (10,817) |   |   | (111,508) |
|                                                                                                                   |   |   |   |   |   |   |   |   |
| Cash      flows from Investing Activities:                                                                             |   | - |   |   | - |   |   | - |
|                                                                                                                   |   |   |   |   |   |   |   |   |
|             Net      Cash Provided by Investing Activities |   | - |   |   | - |   |   | - |
|                                                                                                                   |   |   |   |   |   |   |   |   |
| Cash      Flows from Financing Activities:                                                                             |   |   |   |   |   |   |   |   |
|    Proceeds      from common stock issuance                                                             |   | - |   |   | - |   |   | 41,000 |
|    Capital      contribution                                                                            |   | - |   |   | 9,000 |   |   | 62,776 |
|    Proceeds      from notes payable                                                                     |   | 25,000 |   |   | - |   |   | 25,000 |
|                                                                                                                   |   |   |   |   |   |   |   |   |
|             Net      Cash Provided by Financing Activities |   | 25,000 |   |   | 9,000 |   |   | 128,776 |
|                                                                                                                   |   |   |   |   |   |   |   |   |
| Net      Increase (Decrease) in Cash                                                                                   |   | 14,011 |   |   | (1,817) |   |   | 17,268 |
|                                                                                                                   |   |   |   |   |   |   |   |   |
| Cash      at Beginning of Period                                                                                       |   | 3,257 |   |   | 1,818 |   |   | - |
|                                                                                                                   |   |   |   |   |   |   |   |   |
| Cash      at End of Period                                                                                             | $  |            17,268 |   | $  |                      1 |   | $  |            17,268 |
|                                                                                                                   |   |   |   |   |   |   |   |   |
| 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 six months ended June 30, 2010:                                 |   |   |   |
|               None                               |   |   |   |
|                                                                                                                   |   |   |   |
|        For      the six months ended June 30, 2009:                                 |   |   |   |
|               None                               |   |   |   |
|                                                                                                                   |   |   |   |
| The      accompanying notes are an integral part of these unaudited condensed      financial statements.               |

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|                                    | For      the Three                           | For      the Six                             |
|-----------------------------------------|----------------------------------------------|----------------------------------------------|
|                                    | Months      Ended                            | Months      Ended                            |
|                                    | June      30,                                | June      30,                                |
|                                    |     2010                 |     2009                 | 2010 | 2009 |
|                                    |                                         |                                         |   |   |
| Loss      from continuing operations    |                                         |                                         |   |   |
| applicable      to common               |                                         |                                         |   |   |
| stockholders      (numerator)           | $      (3,639) | $      (4,096) | $      (9,449) | $      (12,783) |
|                                    |                                         |                                         |   |   |
| Weighted      average number of         |                                         |                                         |   |   |
| common      shares outstanding          |                                         |                                         |   |   |
| used      in loss per share calculation |                                         |                                         |   |   |
| during      the period (denominator)    | 11,000,000                                   | 11,000,000                                   | 11,000,000 | 11,000,000 |

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| ExhibitNumber   |   | SEC      Reference Number |   |  Title      of Document                                                        |   |  Location                  |
|-----------------|--------|---------------------------|--------|-------------------------------------------------------------------------------------|--------|---------------------------------|
|            |   |                      |   |                                                                                |   |                            |
|   3.1 |   | 3                         |   | Articles      of  Incorporation                                           |   | Incorporated      by Reference* |
|   3.2 |   | 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                |

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|                                  | Bioethics,      Ltd.                             |
|---------------------------------------|--------------------------------------------------|
|                                  |                                             |
|                                  |                                             |
| Date:  August      11, 2010 | By      /s/ Jed Beck              |
|                                  | Jed      Beck                                    |
|                                  | President,      Chief Executive Officer and      |
|                                  | Chief      Financial Officer                     |
|                                  | (Principal      Executive and Financial Officer) |

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