----

| 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) |

----

| PART I   Financial Information                                             |                                              |
|--------------------------------------------------------------------------------------|---------------------------------------------------|
|                                                                                 |                                              |
| Item 1.  Financial Statements (Unaudited)                                  |                                              |
|                                                                                 | 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 Procedure                                           | 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 6.  Exhibits                                                          | 12                                                |
|                                                                                 |                                              |
| SIGNATURES                                                                           | 13                                                |

----

| BIOETHICS, LTD.                                                                                                          |
|--------------------------------------------------------------------------------------------------------------------------|
| [A Development Stage Company]                                                                                            |
| UNAUDITED CONDENSED BALANCE SHEETS                                                                                       |
|                                                                                                                     |
|                                                                                                                     |   | September 30, |   |   | December 31, |
|                                                                                                                     |   | 2010 |   |   | 2009 |
| CURRENT ASSETS                                                                                                           |   |   |   |   |   |
|    Cash                                                                                                   | $ |          8,143 |   | $ |           3,257 |
|                                                                                                                     |   |   |   |   |   |
|              Total Current Assets                       |   | 8,143 |   |   | 3,257 |
|                                                                                                                     |   |   |   |   |   |
|                                                                                                                     | $ |         8,143 |   | $ |       3,257 |
|                                                                                                                     |   |   |   |   |   |
| CURRENT LIABILITIES                                                                                                      |   |   |   |   |   |
|    Accounts payable                                                                                       | $ |                 - |   |   |   |
|    Accrued Interest Payable                                                                               |   | 1,052 |   | $ |         8,424- |
|    Note Payable – Stockholder                                                                       |   | 25,000 |   |   | - |
|                                                                                                                     |   |   |   |   |   |
|          Total Current Liabilities                                          |   | 26,052 |   |   | 8,424 |
|     Total Liabilities                                                                                     |   | 26,052 |   |   | 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                                                              |   | (121,685) |   |   | (108,943) |
|                                                                                                                     |   |   |   |   |   |
|           Total Stockholders’ Equity (Deficit)                   |   | (17,909) |   |   | (5,167) |
|                                                                                                                     |   |   |   |   |   |
|                                                                                                                     | $ |        8,143 |   | $ |       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                     |

----

| BIOETHICS, LTD.                                                                               |
|-----------------------------------------------------------------------------------------------|
| [A Development Stage Company]                                                                 |
| UNAUDITED CONDENSED STATEMENTS OF OPERATIONS                                                  |
|                                                                                          |
|                                                                                          |   | For the Three |   | For the Nine |   | From Inception |
|                                                                                          |   | Months Ended |   | Months Ended |   | On July 26, 1990 |
|                                                                                          |   | September 30, |   | September 30, |   | Through Sept 30, |
|                                                                                          |   | 2010 |   | 2009 |   | 2010 |   | 2009 |   | 2010 |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| REVENUE                                                                                       | $  |               - | $  |              - | $  |               - | $  |              - | $  |                         - |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| EXPENSES:                                                                                     |   |   |   |   |   |   |   |   |   |   |
|    General and administrative                                                  |   | 2,915 |   | 4,463 |   | 11,690 |   | 17,246 |   |       120,633 |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| LOSS BEFORE OTHER                                                                             |   |   |   |   |   |   |   |   |   |   |
|   INCOME (EXPENSE)                                                                  |   | (2,915) |   | (4,463) |   | (11,690) |   | (17,246) |   | (120,633) |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                                        |   |   |   |   |   |   |   |   |   |   |
|    Interest Expense                                                            |   | (378) |   | - |   | (1,052) |   | - |   | (1,052) |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| LOSS BEFORE INCOME TAXES                                                                      |   | (3,293) |   | (4,463) |   | (12,742) |   | (17,246) |   | (121,685) |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| CURRENT TAX EXPENSE                                                                           |   | - |   | - |   | - |   | - |   |             - |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| DEFERRED TAX EXPENSE                                                                          |   | -   |   | -  |   | -  |   | - |   |             -  |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| NET LOSS                                                                                      | $  |    (3,293) | $  |     (4,463) | $  |     (12,742) | $  |    (17,246) | $  |            (121,685) |
|                                                                                          |   |   |   |   |   |   |   |   |   |   |
| 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 |

----

| BIOETHICS, LTD.                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------|
| [A Development Stage Company]                                                                                     |
| UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS                                                                      |
|                                                                                                              |   |   |
|                                                                                                              |   | From Inception |
|                                                                                                              |   | on July 26, |
|                                                                                                              |   | For the Nine Months Ended |   | 1990 Through |
|                                                                                                              |   | September 30, |   | September 30, |
|                                                                                                              |   | 2010 |   | 2009 |   | 2010 |
| Cash Flows from Operating Activities:                                                                             |   |   |   |   |   |   |
|    Net loss                                                                                        | $  |           (12,742) | $  |           (17,246) | $  |         (121,685) |
|    Adjustments to reconcile net loss to net cash                                                   |   |   |   |   |   |   |
|       used by operating activities:                                                 |   |   |   |   |   |   |
|          Changes in assets and liabilities:                          |   |   |   |   |   |   |
|            Increase (decrease) in accounts payable         |   |  (8,424) |   | 909 |   | - |
|            Increase (decrease) in accrued interest         |   | 1,052 |   | - |   | 1,052 |
|                                                                                                              |   |   |   |   |   |   |
|             Net Cash (Used) by Operating Activities   |   |            (20,114) |   | (16,337) |   | (120,633) |
|                                                                                                              |   |   |   |   |   |   |
| 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                                                                            |   | - |   | 17,775 |   | 62,776 |
|    Proceeds from notes payable                                                                     |   | 25,000 |   | - |   | 25,000 |
|                                                                                                              |   |   |   |   |   |   |
|             Net Cash Provided by Financing Activities |   | 25,000 |   | 17,775 |   | 128,776 |
|                                                                                                              |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash                                                                                   |   | 4,886 |   | 1,438 |   | 8,143 |
|                                                                                                              |   |   |   |   |   |   |
| Cash at Beginning of Period                                                                                       |   | 3,257 |   | 1,818 |   | - |
|                                                                                                              |   |   |   |   |   |   |
| Cash at End of Period                                                                                             | $  |            8,143 | $  |               3,256 | $  |            8,143 |
|                                                                                                              |   |   |   |   |   |   |
|                                                                                                              |   |   |   |   |   |   |
| 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 nine months ended September 30, 2010:                           |   |   |
|               None                          |   |   |
|                                                                                                              |   |   |
|        For the nine months ended September 30, 2009:                           |   |   |
|               None                          |   |   |
|                                                                                                              |   |   |
| The accompanying notes are an integral part of these unaudited condensed financial statements.                    |

----

----

|                               | For the Three                                | For the Nine                                 |
|------------------------------------|----------------------------------------------|----------------------------------------------|
|                               | Months Ended                                 | Months Ended                                 |
|                               | September 30,                                | September 30,                                |
|                               |     2010                 |     2009                 | 2010 | 2009 |
|                               |                                         |                                         |   |   |
| Loss from continuing operations    |                                         |                                         |   |   |
| applicable to common               |                                         |                                         |   |   |
| stockholders (numerator)           | $      (3,293) | $      (4,463) | $      (12,742) | $      (17,246) |
|                               |                                         |                                         |   |   |
| 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 |

----

----

----

----

----

|  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 ChiefFinancial Officer |   | This Filing                |

----

|                              | Bioethics, Ltd.                             |
|-----------------------------------|---------------------------------------------|
|                              |                                        |
|                              |                                        |
| Date:  October 29, 2010 | By /s/ Jed Beck              |
|                              | Jed Beck                                    |
|                              | President, Chief Executive Officer and      |
|                              | Chief Financial Officer                     |
|                              | (Principal Executive and Financial Officer) |

----