----

| BIOETHICS, LTD.                                                                               |
|-----------------------------------------------------------------------------------------------|
| (Exact      name of registrant as specified in charter)                                       |
|                                                                                          |   |
| NEVADA                                                                                        | 87-0485312 |
| (State      or other jurisdiction of incorporation or organization)                           | (I.R.S.      Employer Identification No.) |
|                                                                                          |   |
| 1137 N. 120 W., American Fork,      Utah                                                      | 84003 |
| (Address      of principal executive offices)                                                 | (Zip      Code) |
|                                                                                          |   |
| (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) |

----

|                                                                                                                     |
|--------------------------------------------------------------------------------------------------------------------------|
| BIOETHICS,      LTD.                                                                                                     |
| FORM      10-Q                                                                                                           |
|                                                                                                                     |
| FOR      THE QUARTER ENDED MARCH 31, 2010                                                                                |
|                                                                                                                     |
| INDEX                                                                                                                    |
|                                                                                                                     |   |
| PART I   Financial      Information                                                                            |   |
|                                                                                                                     |   |   |
| Item 1. Consolidated      Condensed Unaudited Financial Statements                                                       |   |
|                                                                                                                     | Consolidated      Condensed Balance Sheets | 3 |
|                                                                                                                     | Consolidated      Condensed Unaudited Statements of Operations | 4 |
|                                                                                                                     | Consolidated      Condensed Unaudited Statements of Cash Flows | 5 |
|                                                                                                                     | Unaudited      Notes to Consolidated 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                                  | 10 |
|                                                                                                                     |   |
| Item      4T.  Controls and Procedures                                                                         | 11 |
|                                                                                                                     |   |
| PART II Other Information                                                                                                |   |
|                                                                                                                     |   |
| Item 1.  Legal      Proceedings                                                                                | 11 |
|                                                                                                                     |   |
| Item 1A.  Risk      Factors                                                                                    | 11 |
|                                                                                                                     |   |
| Item      2.  Unregistered Sales of Equity Securities and Use of      Proceeds                                 | 11 |
|                                                                                                                     |   |
| Item      3.  Defaults Upon Senior Securities                                                                  | 11 |
|                                                                                                                     |   |
| Item      4.  (Removed and Reserved)                                                                           | 11 |
|                                                                                                                     |   |
| Item 5.  Other      Information                                                                                | 11 |
|                                                                                                                     |   |
| Item      6.  Exhibits                                                                                         | 12 |
|                                                                                                                     |   |
| SIGNATURE                                                                                                                | 12 |

----

| BIOETHICS,      LTD.[A      Development Stage Company]                                                                                   |
|------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                     |
| UNAUDITED      CONDENSED BALANCE SHEETS                                                                                                  |
|                                                                                                                                     |
|                                                                                                                                     |   | March      31, |   |   | December      31, |
|                                                                                                                                     |   | 2010 |   |   | 2009 |
| CURRENT      ASSETS                                                                                                                      |   |   |   |   |   |
|    Cash                                                                                                                   | $ |          19,533 |   | $ |           3,257 |
|                                                                                                                                     |   |   |   |   |   |
|              Total      Current Assets                                  |   | 19,533 |   |   | 3,257 |
|                                                                                                                                     |   |   |   |   |   |
|                                                                                                                                     | $ |       19,533 |   | $ |       3,257 |
|                                                                                                                                     |   |   |   |   |   |
| CURRENT      LIABILITIES                                                                                                                 |   |   |   |   |   |
|    Accounts      payable                                                                                                  |   | 5,210 |   |   | 8,424 |
|    Accrued      Interest Payable                                                                                          | $ | 300 |   | $ | - |
|    Note      Payable – Stockholder                                                                                  |   | 25,000 |   |   | - |
|                                                                                                                                     |   |   |   |   |   |
|              Total      Current Liabilities                             |   | 30,510 |   |   | 8,424 |
|              Total      Liabilities                                     |   | 30,510 |   |   | 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                                                                         |   | (114,753) |   |   | (108,943) |
|                                                                                                                                     |   |   |   |   |   |
|              Total      Stockholders’ Equity (Deficit)            |   | (10,977) |   |   | (5,167) |
|                                                                                                                                     |   |   |   |   |   |
|                                                                                                                                     | $ |      19,533 |   | $ |       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 |   |   | From      Inception |
|                                                                                                     | Months      Ended |   |   | On      July 26, 1990 |
|                                                                                                     |   | March      31,      |   |   | Through      March 31, |
|                                                                                                     | 2010 |   | 2009 |   |   | 2010 |
|                                                                                                     |   |   |   |   |   |   |   |   |
| REVENUE                                                                                                  | $ |               - |   | $ |              - |   | $ |                         - |
|                                                                                                     |   |   |   |   |   |   |   |   |
| EXPENSES:                                                                                                |   |   |   |   |   |   |   |   |
|    General      and administrative                                                        |   | 5,510 |   |   | 8,687 |   |   |       114,453 |
|                                                                                                     |   |   |   |   |   |   |   |   |
| LOSS      BEFORE OTHER INCOME (EXPENSE)                                                                  |   | (5,510) |   |   | (8,687) |   |   | (114,453) |
|                                                                                                     |   |   |   |   |   |   |   |   |
| OTHER      INCOME (EXPENSE)                                                                              |   |   |   |   |   |   |   |   |
|    Interest      Expense                                                                  |   | (300) |   |   | - |   |   | (300) |
|                                                                                                     |   |   |   |   |   |   |   |   |
| LOSS      BEFORE INCOME TAXES                                                                            |   | (5,810) |   |   | (8,687) |   |   | (114,753) |
|                                                                                                     |   |   |   |   |   |   |   |   |
| CURRENT      TAX EXPENSE                                                                                 |   | - |   |   | - |   |   |             - |
|                                                                                                     |   |   |   |   |   |   |   |   |
| DEFERRED      TAX EXPENSE                                                                                |   | - |   |   | - |   |   |             - |
|                                                                                                     |   |   |   |   |   |   |   |   |
| NET      LOSS                                                                                            | $ |     (5,810) |   | $ |     (8,687) |   | $ |           (114,753) |
|                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |
| LOSS      PER COMMON SHARE                                                                               | $ |       (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 Three Months Ended |   | 1990      Through |
|                                                                                                                                       |   | March      31, |   | March      31, |
|                                                                                                                                       | 2010 |   | 2009 |   | 2010 |
| Cash      Flows from Operating Activities:                                                                                                 |   |   |   |   |   |   |   |   |
|    Net      loss                                                                                                            | $ |            (5,810) |   | $ |             (8,687) |   | $ |         (114,753) |
|    Adjustments      to reconcile net loss to net cash      used      by operating activities: |   |   |   |   |   |   |   |   |
|          Changes      in assets and liabilities:                                              |   |   |   |   |   |   |   |   |
|            Increase      (decrease) in accounts payable                             |   | (3,214) |   |   | 7,466 |   |   | 5,210 |
|            Increase      (decrease) in accrued interest                             |   | 300 |   |   | - |   |   | 300 |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
|             Net      Cash (Used) by Operating Activities                       |   |            (8,724) |   |   | (1,221) |   |   | (109,243) |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| 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                                                                                                |   | - |   |   | - |   |   | 62,776 |
|    Proceeds      from notes payable                                                                                         |   | 25,000 |   |   | - |   |   | 25,000 |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
|             Net      Cash Provided by Financing Activities                     |   | 25,000 |   |   | - |   |   | 128,776 |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| Net      Increase (Decrease) in Cash                                                                                                       |   | 16,276 |   |   | (1,221) |   |   | 19,533 |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| Cash      at Beginning of Period                                                                                                           |   | 3,257 |   |   | 1,818 |   |   | - |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| Cash      at End of Period                                                                                                                 | $ |            19,533 |   | $ |                 597 |   | $ |            19,533 |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| 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 three months ended March 31, 2010:                                                  |   |   |   |
|               None                                                   |   |   |   |
|                                                                                                                                       |   |   |   |
|        For      the three months ended March 31, 2009:                                                  |   |   |   |
|               None                                                   |   |   |   |
|                                                                                                                                       |
| The      accompanying notes are an integral part of these unaudited condensed      financial statements.                              |

----

----

|                                    | For      the Three |
|-----------------------------------------|--------------------|
|                                    | Months      Ended  |
|                                    | March      31,     |
|                                    | 2010               |   | 2009 |
|                                    |               |   |   |   |   |
| Loss      from continuing operations    |               |   |   |   |   |
| applicable      to common               |               |   |   |   |   |
| stockholders      (numerator)           | $                  | (5,810) |   | $ |  (8,687) |
|                                    |               |   |   |   |   |
| Weighted      average number of         |               |   |   |   |   |
| common      shares outstanding          |               |   |   |   |   |
| used      in loss per share calculation |               |   |   |   |   |
| during      the period (denominator)    |               | 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:  May      10, 2010 | By      /s/ Jed      Beck                                   |
|                               | Jed      Beck                                                                                                                                                                                                                         |
|                               | President,      Chief Executive Officer and                                                                                                                                                                                           |
|                               | Chief      Financial Officer                                                                                                                                                                                                          |
|                               | (Principal      Executive and Financial Officer)                                                                                                                                                                                 |

----