**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**







**FORM 10-QSB**







x
            **QUARTERLY
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE
                ACT
                OF 1934****For
                the quarter ended June 30,
                2005**




**-OR-**





o
            **TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE
                ACT
                OF 1934****For
                the transition period from: to**




**Commission
      File Number** **000-28339**







**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


(Exact
      Name of Registrant as Specified in Its Charter)




**NEVADA**
            
            **000-28339**(State
                or other jurisdiction of incorporation
                or organization)
            
            (I.R.S.
                Employer Identification No.)




**2F-B,
                Xieton Bldg.**
              **No.
                2 Gaoxin 2 Rd.**
              **New
                and Hi-Tech Industry Zone**
              **Xian,
                Shaanxi, China**
            
            **710000**(Address
                of principal executive offices)
            
            (Zip
                code)





Registrant’s
      telephone number, including area code: 86-29-8837-2530




(Former
      name, former address or former fiscal year, if changed since last
      report)





Check
      whether the issuer: (1) filed all reports required to be filed by
      Section 13 or 15(d) of the Exchange Act during the past 12 months (or
      for such shorter period that the registrant was required to file such reports),
      and (2) has been subject to such filing requirements for the past
      90 days. Yes þ No o





Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, or a non-accelerated filer. See definition of “accelerated
      filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check
      one):




Large accelerated filer o
            Accelerated filer o
            Non-accelerated filer þ




Indicate
      by check mark whether the registrant is a shell company (as defined in
      Rule 12b-2 of the Exchange)  Yes o No þ





The
      number of shares outstanding of each of the Registrant’s classes of common
      stock, as of June 30, 2005 was 13,561,000 shares, all of one class of $0.001
      par
      value Common Stock. As of October 25, 2007, there are 103,561,000.




Page
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**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


**FORM
      10-QSB**


**Quarter
      Ended June 30, 2005**





**TABLE
      OF CONTENTS**




**FINANCIAL
                INFORMATION**
            **PAGE**Item
                1.
            Consolidated
                Financial StatementsConsolidated
                Balance Sheet as June 30, 2005 (unaudited)
            4Consolidated
                Statement of Operations for the Nine MonthsEnded June 30, 2005 and
                June
                30, 2004
            5Consolidated
                Statement of Stockholders’ Equity/(Deficit)
            6Consolidated
                Statement of Cash Flow for the Nine MonthsEnded June 30, 2005 and
                June 30,
                2004
            7Notes
                to Consolidated Financial Statements
            8Item
                2.
            Managements
                Discussion and Analysis of Financial Condition or Plan of
                Operation
            14Item
                3.
            Controls
                and Procedures
            18**PART
                II—OTHER INFORMATION**Item
                1.
            Legal
                Proceedings
            19Item
                2.
            Unregistered
                Sales of Equity Securities and Use of Proceeds
            19Item
                3.
            Defaults
                Upon Senior Securities
            19Item
                4.
            Submission
                of Matters to a Vote of Security Holders
            19Item
                5.
            Other
                Information
            19Item
                6.
            Exhibits
                and Reports on Form 8-K
            19**SIGNATURES**
            
            **20**




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          20




**SPECIAL
      NOTE ON FORWARD LOOKING STATEMENTS**





This
      Quarterly Report on Form 10-QSB, including "Management's Discussion and Analysis
      of Financial Condition and Results of Operations" in Item 2 of Part I of this
      report include forward-looking statements. These statements involve known and
      unknown risks, uncertainties and other factors that may cause our actual
      results, levels of activity, performance or achievements to be materially
      different from any future results, levels of activity, performance, or
      achievements expressed or implied by forward-looking statements.





In
      some
      cases, you can identify forward-looking statements by terminology such as "may,"
      "should," "expects," "plans," "anticipates," "believes," "estimates,"
      "predicts," "potential," "proposed," "intended," or "continue" or the negative
      of these terms or other comparable terminology. You should read statements
      that
      contain these words carefully, because they discuss our expectations about
      our
      future operating results or our future financial condition or state other
      "forward-looking" information. There may be events in the future that we are
      not
      able to accurately predict or control. Before you invest in our securities,
      you
      should be aware that the occurrence of any of the events described in this
      Annual Report could substantially harm our business, results of operations
      and
      financial condition, and that upon the occurrence of any of these events, the
      trading price of our securities could decline and you could lose all or part
      of
      your investment. Although we believe that the expectations reflected in the
      forward-looking statements are reasonable, we cannot guarantee future results,
      growth rates, levels of activity, performance or achievements. We are under
      no
      duty to update any of the forward-looking statements after the date of this
      Quarterly Report to conform these statements to actual results.





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          20


**PART
      1: FINANCIAL INFORMATION**





**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Balance
                Sheets**(Unaudited)




**ASSETS**June
                30,
            
            September
                30,2005
            
            2004(Audited)Current
                AssetsCash
            
            $
            -
            
            $
            -Accounts
                Receivable - Net
            
            
            -
            
            
            -Total
                Current Assets
            
            
            -
            
            
            -Net
                Assets of Discontinued Operations
            
            
            -
            
            
            -Total
                Assets
            
            $
            -
            
            $
            -**LIABILITIES
                AND STOCKHOLDERS' EQUITY**Current
                LiabilitiesTrade
                accounts payable and accrued expenses
            
            $
            101,934
            
            $
            64,306Net
                Liabilities of Discontinued Operations
            
            
            1,077
            
            
            1,077Total
                Current Liabilities
            
            
            103,011
            
            
            65,383Total
                Liabilities
            
            
            103,011
            
            
            65,383Stockholders'
                EquityCommon
                Stock, $0.001 par value, 50,000,000 shares authorized; 13,561,100
                shares
                issued and outstanding On June 30, 2005 and September 30, 2004
                respectively
            
            
            13,561
            
            
            13,561Paid
                in Capital
            
            
            4,020,613
            
            
            3,975,633Accumulated
                Deficit
            
            
            (4,137,185
            )
            
            (4,054,577
            )Total
                Stockholders' Equity
            
            
            (103,011
            )
            
            (65,383
            )Total
                Liabilities and Stockholders' Equity
            
            $
            -
            
            $
            -




The
                accompanying notes are an integral part of these
                statements





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          4 of
          20





**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Consolidated
                Statements of Operations**(Unaudited)




For
                Nine Months Ended
            
            For
                Three Months EndedJune
                30,
            
            June
                30,2005
            
            2004
            
            2005
            
            2004Revenue,
                net
            
            $
            -
            
            $
            -
            
            $
            -
            
            $
            -Cost
                of Sales
            
            
            -
            
            
            -
            
            
            -
            
            
            -Gross
                Margin
            
            
            -
            
            
            -
            
            
            -
            
            
            -Operating
                ExpensesGeneral
                and Administrative
            
            
            -
            
            
            -
            
            
            -
            
            
            -Advertising
            
            
            -
            
            
            -
            
            
            -
            
            
            -Depreciation
                and Amortization
            
            
            -
            
            
            -
            
            
            -
            
            
            -Total
                Operating Expenses
            
            
            -
            
            
            -
            
            
            -
            
            
            -Loss
                From Operations
            
            
            -
            
            
            -
            
            
            -
            
            
            -Extraordinary
                Items:Discontinued
                Operations
            
            
            (82,608
            )
            
            (217,053
            )
            
            30,762
            
            
            76,392Loss
                on Disposal ofDiscontinued
                Operations
            
            
            -
            
            
            (721,521
            )
            
            -
            
            
            -Total
                other Income (Expense)
            
            
            (82,608
            )
            
            (938,574
            )
            
            30,762
            
            
            76,392Net
                (Loss)
            
            $
            (82,608
            )
            $
            (938,574
            )
            $
            30,762
            
            $
            76,392Basic
                and Diluted(Loss)
                per ShareContinuing
                Operations
            
            $
            0.00
            
            $
            0.00
            
            $
            0.00
            
            $
            0.00Discontinued
                Operations
            
            
            (0.01
            )
            
            (0.07
            )
            
            0.00
            
            
            0.01Weighted
                AverageNumber
                of Shares
            
            
            13,561,100
            
            
            13,561,100
            
            
            13,561,100
            
            
            13,561,100




The
                accompanying notes are an integral part of these
                statements





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          5 of
          20





**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Consolidated
                Statement of Stockholders'
                Equity/(Deficit)**(Unaudited)




Common
                Stock
            
            Paid
                in
            
            Subscription
            
            Accumulated
            
            TotalShares
            
            Amount
            
            Capital
            
            Receivable
            
            (Deficit)
            
            Equity**Balance,
                October 1, 2002**
            
            
            13,561,100
            
            $
            13,561
            
            $
            3,914,491
            
            $
            (425,540
            )
            $
            (2,812,847
            )
            
            689,665Payment
                received on common stock subscription
            
            
            -
            
            
            -
            
            
            (12,600
            )
            
            425,540
            
            
            -
            
            
            412,940Stock
                option expense
            
            
            -
            
            
            -
            
            
            88,302
            
            
            -
            
            
            -
            
            
            88,302Net
                (Loss)
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            (2,193,025
            )
            
            (2,193,025
            )**Balance,
                September 30, 2003**
            
            
            13,561,100
            
            
            13,561
            
            
            3,990,193
            
            
            -
            
            
            (5,005,872
            )
            
            (1,002,118
            )Dissolution
                of Acquisition
            
            
            
            
            
            
            
            
            (688,400
            )
            
            
            
            
            2,019,880
            
            
            1,331,480Contributed
                Capital
            
            
            
            
            
            
            
            
            673,840
            
            
            
            
            
            
            
            
            673,840Net
                (Loss)
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            (1,068,585
            )
            
            (1,068,585
            )**Balance,
                September 30, 2004**
            
            
            13,561,100
            
            $
            13,561
            
            $
            3,975,633
            
            $
            -
            
            $
            (4,054,577
            )
            $
            (65,383
            )Contributed
                Capital
            
            
            -
            
            
            -
            
            
            44,980
            
            
            -
            
            
            -
            
            
            44,980Net
                (Loss)
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            (82,608
            )
            
            (82,608
            )**Balance,
                June 30, 2005**
            
            
            13,561,100
            
            $
            13,561
            
            $
            4,020,613
            
            $
            -
            
            $
            (4,137,185
            )
            $
            (103,011
            )




The
                accompanying notes are an integral part of these
                statements




Page
          6 of
          20





**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Consolidated
                Statements of Cash Flows**(Unaudited)




Nine
                Months EndedJune
                30,2005
            
            2004Operating
                ActivitiesNet
                Income (Loss)
            
            $
            (82,608
            )
            $
            (938,574
            )Adjustments
                to reconcile net income (Loss):Discontinued
                Operations
            
            
            82,608
            
            
            938,574Depreciation
            
            
            -
            
            
            -Balance
                Sheet Adjustments:(Increase)
                Decrease in Accounts Receivable
            
            
            -
            
            
            -Increase
                (Decrease) in Accounts Payable
            
            
            -
            
            
            -Increase
                (Decrease) in Accrued Liabilities
            
            
            -
            
            
            -Net
                Cash (Used) by Operating Activities
            
            
            -
            
            
            -Investing
                ActivitiesDisposal/(Purchase)
                of Equipment
            
            
            -
            
            
            -Cash
                (Used) in Investing Activities
            
            
            -
            
            
            -Financing
                ActivitiesAdvances
                from Related Parties
            
            
            -
            
            
            -Contributed
                Capital
            
            
            -
            
            
            -Proceeds
                from Sale of Common Stock
            
            
            -
            
            
            -Cash
                provided by financing
            
            
            -
            
            
            -Net
                Increase (Decrease) in Cash
            
            
            -
            
            
            -Cash,
                Beginning of Period
            
            
            -
            
            
            -Cash,
                End of Period
            
            $
            -
            
            $
            -Supplemental
                InformationTaxes
            
            $
            -
            
            $
            -Interest
            
            $
            -
            
            $
            -




The
                accompanying notes are an integral part of these
                statements


Page
          7 of
          20





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


**(F/K/A
      Easy Group Limited)**





**Notes
      to the Unaudited Consolidated Financial Statements**


(June
      30,
      2005 and September 30, 2004)




**NOTE
      1- ORGANIZATION AND BUSINESS ACTIVITY**





China
      Bionanometer Industries Corporation (The Company) was incorporated under the
      laws of the state of Nevada on October 24, 1996, under the name Almost Country
      Productions, Inc. and changed its name to Xvariant, Inc. (Xvariant) in August,
      2001 and subsequent to the period reported on these statements the Company
      changed its name to China Ethanol Corporation on August 28, 2006 and finally
      to
      Easy Groups Limited on November 17, 2006.





On
      March
      15, 2001, Xvariant acquired Real Estate Federation, Inc. ("REF") in a
      transaction recorded as a recapitalization of REF with Xvariant being the legal
      survivor and REF being the accounting survivor and the operating entity.REF
      was
      established to provide technology for the real estate market that enhances
      the
      use of the Internet in the home-buying process. The technology allows potential
      homebuyers to search for real estate properties from all participating real
      estate brokers' listings. REF had a wholly owned subsidiary, Xvariant, Inc.
      (a
      Utah corporation) which designed web sites for real estate brokers along with
      other real estate related services. Xvariant (the Utah corporation) was disposed
      of in October 2001 (see Note 13).





During
      January 2002, Xvariant executed the acquisition of 360House.com,Inc. (360House),
      pursuant to a stock exchange agreement. Xvariant acquired 360House by issuing
      1,000,000 shares of common stock to the shareholders of 360House in exchange
      for
      all of the issued and outstanding shares of 360House. In addition, the exchange
      agreement provides for issuance of additional shares of Xvariant's common stock
      based on the performance of 360House. Xvariant agreed to issue common stock,
      including the 1,000,000 shares issued upon execution of the agreement, at a
      price equal to either 1) a value equal to six times 360House's earnings before
      interest, taxes, depreciation, and amortization during the twelve month period
      ending December 31, 2003; or 2) the value defined by a valuation consultant
      mutually agreeable by the parties. Either party may demand an independent
      valuation. 360House provides services to the real estate industry principally
      in
      the form of photographic virtual tours of real estate properties available
      for
      viewing on the internet and other video media.





During
      December 2003 the company dissolved the acquisition of 360House because
      performance was not at the expected level.





The
      Company was engaged in the development of technology and Internet services
      targeted at the real estate industry and were considered to be in the
      development stage through December 31, 2001. The Company began substantial
      operations in January 2002 with the acquisition of 360house and became an
      operating company during the year ended September 30, 2003.





The
      consolidated financial statements include Xvariant and its wholly owned
      subsidiaries, Real Estate Federation, Inc. however, with the dissolution of
      the
      acquisition of 360House.com, Inc., the financials have been reclassified to
      remove the activity of 360House.com, Inc. All significant intercompany accounts
      and transactions have been eliminated.





Effective
      August 28, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from XVARIANT, INC. to China Ethanol
      Corporation.





On
      November 27, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from China Ethanol Corporation to Easy Groups Limited.





Subsequent
      to June 30, 2005 the Company reentered the development state.




Page
          8 of
          20




**NOTE
      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**





a.
      Accounting Methods





The
      Company's consolidated financial statements are prepared using the accrual
      method of accounting. The Company has elected a September 30, year-end. 360House
      has a December 31, year end with the accompanying consolidated financial
      statements including the results of financial position and results of operations
      of 360House as of and for the nine months ended September 30, 2002 which
      approximates the period from the date of its acquisition by Xvariant as
      discussed in Note 12.





b.
      Accounts Receivable





The
      Company evaluated its accounts receivable and found that it was all in excess
      of
      120 days old and increased its allowance for doubtful accounts of to $155,761
      as
      of March 31, 2004 leaving a balance in accounts receivable of
      $0.00.





c.
      Property and Equipment





Property
      and equipment is recorded at cost. Major additions and improvement are
      capitalized. The cost and related accumulated depreciation of equipment retired
      or sold are removed from the accounts and any differences between the
      undepreciated amount and the proceeds from the sale are recorded as gain or
      loss
      on sale of equipment. Depreciation is computed using the straight-line method
      over the estimated useful life of the assets as follows:




Description
              Estimated
                  Useful LifeFurniture
                  and fixtures
              3-4
                  yearsMachinery
                  and equipment
              3
                  yearsComputers
              3
                  years


d.
      Estimates





The
      preparation of consolidated financial statements in conformity with generally
      accepted accounting principles requires management to make estimates and
      assumptions that affect the reported amounts of assets and liabilities and
      disclosure of contingent assets and liabilities at the date of the consolidated
      financial statements and the reported amounts of revenues and expenses during
      the reporting period. Actual results could differ from those
      estimates.





e.
      Revenue Recognition





The
      Company recognizes revenue from real estate lead commissions as escrow is
      closed. Revenue from photographic virtual tours and related services are
      recognized as projects are completed and available for viewing. Revenue is
      recognized on other services rendered as they are performed.





f.
      Stock
      Options





As
      permitted by FASB Statement 123 and amended by SFAS No. 148 "Accounting for
      Stock Based Compensation" (SFAS No. 123), the Company elected to measure and
      record compensation cost relative to employee stock option costs in accordance
      with Accounting Principles Board ("APB") Opinion 25, "Accounting for Stock
      Issued to Employees," and related interpretations and make pro-forma disclosures
      of net income and earnings per share as if the fair value method of valuing
      stock options had been applied. Under APB Opinion 25, compensation cost is
      recognized for stock options granted to employees when the option price is
      less
      that the market price of the underlying common stock on the date of
      grant.





Page
          9 of
          20





**NOTE
      3 - GOING CONCERN**





The
      Company's consolidated financial statements are prepared using generally
      accepted accounting principles in the United States of America applicable to
      a
      going concern which contemplates the realization of assets and liquidation
      of
      liabilities in the normal course of business. The Company has incurred losses
      which have resulted in an accumulated deficit of $4,137,185 at June 30, 2005,
      and has limited internal financial resources. These factors combined raise
      substantial doubt about the Company's ability to continue as a going concern.
      The accompanying consolidated financial statements do not include any
      adjustments relating to the recoverability and classification of asset carrying
      amounts or the amount and classification of liabilities that might result from
      the outcome of this uncertainty.





The
      Company expects that growth in revenue from operations will continue to
      increase. Accordingly, the Company believes that based on these factors, it
      has
      the ability to sustain operations for the next twelve months. However, there
      can
      be no assurance that generation of operating revenues and collection of the
      subscription receivable will be sufficient to enable the Company to maintain
      its
      operations. If the Company's plans are not successful, it will be necessary
      for
      the Company to secure additional debt and equity financing which also cannot
      be
      assured.








**NOTE
      4 - DISSOLUTION OF BUSINESS COMBINATION AND DISCONTINUED
      OPERATIONS**





During
      January 2002, Xvariant executed the acquisition of 360House.com, Inc.
      (360House), pursuant to a stock exchange agreement. Xvariant acquired 360House
      by issuing 1,000,000 shares of common stock to the shareholders of 360House
      in
      exchange for all of the issued and outstanding shares of 360House. In addition,
      the exchange agreement provides for issuance of additional shares of Xvariant's
      common stock based on the performance of 360House.





Xvariant
      agreed to issue common stock, including the 1,000,000 shares issued upon
      execution of the agreement, at a price equal to either 1) a value equal to
      six
      times 360House's earnings before interest, taxes, depreciation, and amortization
      during the twelve month period ending December 31, 2003; or 2) the value defined
      by a valuation consultant mutually agreeable by the parties. Either party may
      demand an independent valuation. 360House provides services to the real estate
      industry principally in the form of photographic virtual tours of real estate
      properties available for viewing on the internet and other video
      media.





During
      December 2003 the company dissolved the acquisition of 360House because
      performance was not at the expected level. Because of the prior impairment
      of
      goodwill the dissolution resulted in a net gain on dissolution of $1,331,480
      as
      a result of the following equity adjustments:




Paid
                  in CapitalBefore
                  Dissolution
              
              $
              3,990,193Adjustment
              
              
              (688,400
              )Adjusted
                  Paid in Capital
              
              $
              3,301,793Accumulated
                  DeficitBefore
                  Dissolution
              
              $
              (5,005,872
              )Adjustment
              
              
              2,019,880Adjusted
                  Paid in Capital
              
              $
              (2,985,992
              )Adjustment
                  to Paid in Capital
              
              $
              (688,400Adjustment
                  to Accumulated Deficit
              
              
              2,019,880Gain
                  on dissolution
              
              $
              1,331,480




Page
          10
          of 20




The
      condensed financial statements of the discontinued operations
      follow:




**BALANCE
                SHEETS****ASSETS**June
                30,
            
            September
                30,2005
            
            2004Cash
            
            $
            -
            
            $
            -Accounts
                Receivable - Net
            
            
            -
            
            
            -Property
                and Equipment, Net
            
            
            -
            
            
            -Net
                Assets of Discontinued Operations
            
            $
            -
            
            $
            -**LIABILITIES**Trade
                accounts payable and accrued expenses
            
            $
            101,934
            
            $
            64,306Capital
                leases
            
            
            1,077
            
            
            1,077Net
                Liabilities of Discontinued Operations
            
            $
            103,011
            
            $
            65,383




**STATEMENTS
                OF OPERATIONS**For
                the Nine Months EndedJune
                30,2005
            
            2004Revenue
            
            $
            5,922
            
            $
            145,867Operating
                Expenses:General
                and Administrative
            
            
            51,883
            
            
            304,643Sales
                and Marketing
            
            
            -
            
            
            6,687Depreciation
                and amortization
            
            
            2,427
            
            
            15,305Total
                Operating Expenses
            
            
            54,310
            
            
            326,635Loss
                From Operations
            
            
            (48,388
            )
            
            (180,768
            )Total
                other Income (Expense)
            
            
            (34,220
            )
            
            (680,934
            )Net
                (Loss)
            
            $
            (82,608
            )
            $
            (861,702
            )Basic
                and Diluted(Loss)
                per Share
            
            $
            (0.01
            )
            $
            (0.06
            )Weighted
                AverageNumber
                of Shares
            
            
            13,561,100
            
            
            13,561,100





Page
          11
          of 20


**NOTE
      5 - RELATED PARTY TRANSACTIONS**





As
      of
      September 30, 2004, a related party forgave operational advances to the Company
      in the amount of $673,840 including accrued interest and was reclassified from
      notes payable to contributed capital.





**NOTE
      6 - LONG-TERM OBLIGATIONS**





The
      Company leases office space under a long-term operating lease agreement and
      leases equipment under long-term capital lease agreements. Minimum rentals
      on
      capital leases have been capitalized at the cost of the leased equipment or
      the
      present value of the rentals at the inception of the leases and the obligation
      for such amounts recorded as liabilities. Amortization of the capitalized
      assets, which is included in depreciation and amortization expense, is computed
      on the straight-line basis over the life of the asset or the lease term,
      whichever is shorter, and interest expense is accrued on the basis of the
      outstanding lease obligations.





Future
      minimum lease payments under capital and operating leases are as
      follows:





Capital
            
            OperatingLeases
            
            LeasesYear
                ending September 30,2003
            
            $
            2,561
            
            $
            55,3912004
            
            
            -
            
            
            4,616Thereafter
            
            
            -
            
            
            -Total
                minimum lease payments
            
            $
            2,561
            
            $
            60,007Less
                amount representing interest
            
            
            1,484Present
                value of net minimum lease payments
            
            
            1,077Less
                current maturities
            
            
            1,077$
            -




**NOTE
      7 - COMMON STOCK TRANSACTIONS**





During
      the year ended September 30, 2002, the Company cancelled 9,900,000 common shares
      and issued 700,000 common shares pursuant to the separation agreements with
      former officers of the Company.





In
      November 2001, the Company issued 450,000 shares of common stock for the
      purchase of assets (see Note 5) and issued an additional 1,000,000 shares
      pursuant to a stock exchange agreement executed in January 2002 (see Note
      12).





Additionally,
      the Company issued 165,000 shares of common stock in January 2002 to an
      unrelated individual for services rendered valued at a price of $0.91 per share.
      An additional 25,000 shares were issued to the same individual in July 2002
      for
      services rendered valued at $3.50 per share. The value of the shares issued
      approximated the fair market value of the shares on the date of
      authorization.





The
      Company received $29,980 contributed capital during the three months ended
      December 31, 2004 and $15,000 contributed capital during the three months ended
      June 30, 2004.




**NOTE
      8 - STOCK OPTIONS AND WARRANTS**





As
      of
      September 30, 2004 none of the contingent requirements related to outstanding
      warrants and options were not meet. Accordingly, the company has treated both
      options and warrants as having been cancelled and no longer
      outstanding.




Page
          12
          of 20




**NOTE
      9 - THE EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS**




Below
      is
      a listing of the most recent accounting standards SFAS 146-150 and their effect
      on the Company.





*SFAS
      146*  *Accounting
      for Costs Associated with Exit or Disposal Activities*


This
      statement requires companies to recognize costs associated with exit or disposal
      activities, other than SFAS 143 costs, when they are incurred rather than at
      the
      date of a commitment to an exit or disposal plan. Examples of these costs are
      lease termination costs, employee severance costs associated with restructuring,
      discontinued operation, plant closing, or other exit or disposal activity.
      This
      statement is effective after December 15, 2002.





*SFAS
      147*  *Acquisitions
      of Certain Financial Institutions - an amendment of FASB Statement No. 72 and
      144 and FASB Interpretation No. 9.*


This
      statement makes the acquisition of financial institutions come under the
      statements 141 and 142 instead of statement 72, 144 and FASB Interpretation
      No.
      9. This statement is applicable for acquisition on or after October 1,
      2002.


*SFAS
      148*  *Accounting
      for Stock-Based Compensation - Transition and Disclosure*


Amends
      FASB 123 to provide alternative methods of transition for an entity that
      voluntarily changes to the fair value based method of accounting for stock-based
      employee compensation.





*SFAS
      149*  *Amendment
      of Statement 133 on Derivative Instruments and Hedging
      Activities*


This
      Statement amends and clarifies financial accounting and reporting for derivative
      instruments, including certain derivative instruments embedded in other
      contracts (collectively referred to as derivatives) and for hedging activities
      under FASB Statement No. 133, *Accounting
      for Derivative Instruments and Hedging Activities.*


*SFAS
      150*  *Financial
      Instruments with Characteristics of both Liabilities and
      Equity*


This
      statement requires that such instruments be classified as liabilities in the
      balance sheet. SFAS 150 is effective for financial instruments entered into
      or
      modified after May 31, 2003.





*Interpretation
      No. 46 (FIN 46)*


Effective
      January 31, 2003, The Financial Accounting Standards Board requires certain
      variable interest entities to be consolidated by the primary beneficiary of
      the
      entity if the equity investors in the entity do not have the characteristics
      of
      a continuing financial interest or do not have sufficient equity at risk for
      the
      entity to finance its activities without additional subordinated financial
      support from other parties. The Company has not invested in any such entities,
      and does not expect to do so in the foreseeable future.





The
      adoption of these new Statements is not expected to have a material effect
      on
      the Company’s current financial position, results or operations, or cash flows.




**NOTE
      11- SUBSEQUENT EVENTS**





As
      of
      October 24, 2006 none of the criteria upon which execution of outstanding
      warrants and options were meet. Accordingly, all warrants and options have
      been
      cancelled.





Effective
      August 28, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from XVARIANT, INC. to China Ethanol
      Corporation.





On
      November 27, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from China Ethanol Corporation to Easy Groups
      Limited.





On
      June
      20, 2007, the Company filed a Certificate of Amendment with the State of Nevada
      to change its name from Easy Groups Limited to China Bionanometer Industries
      Corporation.




Page
          13
          of 20




**ITEM
      2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
      OPERATIONS OR PLAN OF OPERATION**





Forward-Looking
      Information





This
      report on Form 10-QSB includes "forward-looking statements" within the meaning
      of Section 27A of the Securities Act of 1933, and Section 21E of the Securities
      Exchange Act of 1934. These forward-looking statements may relate to such
      matters as anticipated financial performance, future revenues or earnings,
      business prospects, projected ventures, new products and services, anticipated
      market performance and similar matters. When used in this report, the words
      "may," "will," expect," anticipate," "continue," "estimate," "project,"
      "intend," and similar expressions are intended to identify forward-looking
      statements within the meaning of Section 27A of the Securities Act of 1933
      and
      Section 21E of the Securities Exchange Act of 1934 regarding events, conditions,
      and financial trends that may affect the Company's future plans of operations,
      business strategy, operating results, and financial position. The Private
      Securities Litigation Reform Act of 1995 provides a safe harbor for
      forward-looking statements. To comply with the terms of the safe harbor, we
      caution readers that a variety of factors could cause our actual results to
      differ materially from the anticipated results or other matters expressed in
      forward-looking statements. These risks and uncertainties, many of which are
      beyond our control, include (i) the sufficiency of existing capital resources
      and the Company's ability to raise additional capital to fund cash requirements
      for future operations; (ii) uncertainties involved in the rate of growth of
      the
      Company's business and acceptance of the Company's products and services; (iii)
      volatility of the stock market, particularly within the technology sector;
      and
      (iv) general economic conditions. Although the Company believes the expectations
      reflected in these forward-looking statements are reasonable, such expectations
      may prove to be incorrect.





*History*





China
      Bionanometer Industries Corporation, formerly Easy Groups Limited, formerly
      Xvariant, Inc. (the "Company") was organized on October 24, 1996, under the
      laws
      of the State of Nevada, as "Almost Country Productions, Inc.," for the purpose
      of producing and marketing music. In approximately March 1997, the Company
      sold
      100,000 shares of its common stock at $.30 per share in an offering pursuant
      to
      Rule 504 and Section 3(b) of the Securities Act of 1933. In November, 2000
      the
      Company discontinued its music production business and actively sought new
      business opportunities.





On
      March
      15, 2001, the Company completed the acquisition of Real Estate Federation,
      Inc.
      ("REF"), pursuant to a Stock Purchase Agreement (the "Agreement") between the
      Company and the shareholders of REF. (See "Acquisition of REF"
      below).





The
      Company changed its name to "Xvariant, Inc.," in August, 2001.





In
      January, 2002, the Company completed the acquisition of 360House.com, Inc.,
      a
      Utah corporation ("360House"), pursuant to a Stock Exchange Agreement (the
      "Exchange Agreement") among the Company, 360House, and the shareholders of
      360House. (See "Acquisition of 360House" below).





In
      December 2003, the Company unwound the acquisition of 360House with its
      shareholder through settlement agreements. (See “Disposition of 360House”
below).





The
      Company changed its name to “China Ethanol Corporation” in August
      2006.





In
      September 2006, the Company completed the acquisition of Easy Groups Limited,
      a
      Hong Kong corporation (“Easy Groups”), pursuant to an Exchange Agreement among
      the Company and Easy Groups (See “Acquisition of Easy Groups”
below).





The
      Company changed its name to “Easy Groups Limited” in November 2006.




Page
          14
          of 20




In
      January 2007, the Company rescinded the agreement between China Ethanol
      Corporation and Easy Groups. The Company on February 26, 2007 filed a Form
      8-K
      filed with the Commission stating the recession agreement between the Registrant
      and Easy Groups. (See “Recession of Easy Groups” below.)





In
      April
      2007, the Company completed the acquisition of FullCo Limited, a limited
      liability company organized under the laws of Hong Kong (“FullCo”), pursuant to
      an Exchange Agreement among the Company and FullCo (See “Acquisition of FullCo”
below).





The
      Company changed its name to “China Bionanometer Industries Corporation” in June
      2007.





*Acquisition
      of REF*





The
      Company acquired REF as a wholly owned subsidiary by issuing 20,500,000 shares
      of the Company's authorized common stock, 20,000,000 of which were issued to
      the
      shareholders of REF in exchange for their interests in REF, and 500,000 of
      which
      were issued as a fee to one of the Company's shareholders. The newly issued
      shares aggregated approximately 97% of the then issued and outstanding shares
      of
      the Company, and resulted in a change in control of the Company. At the closing
      of the acquisition, REF had no liabilities other than ordinary overhead
      expenditures, a real estate lease obligation, employment agreements with the
      three founders of REF, and a consulting agreement with another shareholder
      of
      REF. REF had no significant assets other than its intellectual property,
      copyrights, and computers used to deliver its service. It did, however, have
      a
      subscription agreement with one of its shareholders to provide up to $2,500,000
      in capital funding over the next one-year period. To date, the full capital
      commitment has been received and utilized to pursue Company business
      operations.





*Disposition
      of REF*





On
      or
      about October 12, 2001, 5,500,000 shares were cancelled in connection with
      Separation Agreements entered into by two of the founders, Messrs. Craig and
      Knapp. Messrs. Craig and Knapp were each reissued 100,000 shares of restricted
      common stock, and were paid $12,500 and $17,500, respectively, as reimbursement
      for all accrued salary, benefits and expenses. On or about July 12, 2002, Mr.
      Thomas Wright, a founder, agreed to cancel 4,400,000 shares owned by him
      pursuant to an employment arrangement of that date. Mr. Wright was paid a total
      of $12,500 as reimbursement for all accrued salary, benefits and expenses.
      A
      total of 500,000 shares of common stock was reissued to Mr. Wright.





*Acquisition
      of Bid Trac*





In
      November, 2001, the Company issued 450,000 shares of restricted common stock
      to
      Bid Trac, Inc. ("Bid Trac"), for the acquisition of certain assets and software
      that allowed the Company to provide an additional on-line service to its
      customers, and six contracts with customers subscribing to the service. In
      addition, the Company granted to Bid Trac, a warrant to purchase up to 600,000
      shares of common stock at an exercise price of $2.00 per share, exercisable
      at
      any time prior to November 21, 2011. The warrant provides that, in the event
      gross revenue derived from the Bid Trac service contracts was less than $200,000
      for the twelve months following the acquisition, only 300,000 shares could
      be
      purchased by Bid Trac, and if gross revenue was less than $100,000 for such
      twelve month period, then the warrant terminated and no shares could be
      purchased. Gross revenue from the Bid Trac contracts aggregated less than
      $100,000 for the initial twelve months following the acquisition.





*Acquisition
      of 360House*





In
      January, 2002, the Company completed the acquisition of 360House.com, Inc.,
      a
      Utah corporation ("360House"), under the terms of a Stock Exchange Agreement
      (the "Exchange Agreement") among the Company, 360House, and the shareholders
      of
      360House.





The
      Company acquired 360House as a wholly-owned subsidiary by initially issuing
      1,000,000 shares of the Company's authorized common stock to the shareholders
      of
      360House in exchange for all of the outstanding stock of 360House. In addition,
      the Exchange Agreement provides for the issuance of additional shares of the
      Company's common stock based on the performance of 360House. The Company has
      agreed to issue stock, including the 1,000,000 shares issued upon execution
      of
      the Agreement, at a price equal to either (a) a value equal to six times
      360House's earnings before interest, taxes, depreciation and amortization
      ("EBITDA") in the twelve month period ending December 31, 2003 ("Earnout
      Shares"); or (b) the value defined by a valuation consultant agreed to by the
      parties (the "Earnout"). Either party may demand an independent valuation,
      and
      the party making such demand must bear the cost. The value of the Company's
      common stock for purposes of the Earnout, shall be calculated based on the
      average closing price of the stock for the 30 trading days prior to December
      31,
      2003.




Page
          15
          of 20




At
      the
      closing of the acquisition, 360House had no significant tangible assets except
      computers, office furniture and equipment, and general files for its three
      employees. It had what it believed was, however, significant and valuable
      intellectual property, including, trademarks and internally developed software
      and web technology. 360House had no liabilities other than ordinary overhead
      expenditures, and employment agreements with Glade Jones, the President of
      360House, and Andy Evans, the founder and Chief Technical Officer of 360House.
      Although the employment agreements are obligations of 360House, the Company
      assumed the obligations to ensure that the salaries were paid for the six months
      following the acquisition to the extent that 360House did not have the cash
      flow
      to satisfy the salary obligations. Additionally, the Company had the obligation,
      for a period of six months from the acquisition, to ensure that 360House
      operating expenses were paid to the extent there was a cash shortfall in
      360House in meeting such expenses, which condition has been
      satisfied.





The
      Exchange Agreement contained an option allowing the shareholders of 360House
      to
      unwind the transaction in certain events. In the event the shareholders of
      360House did not want to accept the Earnout Shares at December 31, 2003, they
      could surrender all of their shares in the Company and all of the issued and
      outstanding common stock of 360House shall be returned to the shareholders
      of
      360House. In such event, however, the Company had the option to retain the
      360House shares and pay the value calculated at December 31, 2003 to the
      360House shareholders in cash. Neither of the alternatives were acceptable
      to
      either the Company or the shareholders. The Company and the shareholders
      prepared settlement documents reflecting a position somewhere in between the
      two
      positions outlined in the Exchange Agreement, and the acquisition was
      unwound.





*Disposition
      of 360House*





In
      December 2003, as stated above, the Company unwound the acquisition of 360House
      with its shareholders through settlement agreements. In these agreements, the
      Company returned all shares it had received from 360House and 360House returned
      the 1,000,000 shares of stock in the Company.





*Acquisition
      of Easy Groups Limited*





Pursuant
      to an Exchange Agreement (the "Agreement") effective September 29, 2006, and
      its
      contemplated transaction that closed October 1, 2006, (the "Closing"), the
      Registrant acquired all of the issued and outstanding capital stock and
      underlying business of Easy Groups Limited and all related companies, including
      but not limited to Easy Dynamic Advertising (Exterior Walls) Limited (herein
      referred to as “Easy Groups”) which is an outdoor advertising company (the
      "Business") in exchange for Forty Two Million Five Hundred Twenty-Seven Thousand
      (42,527,000) shares of common stock of the Registrant, which includes shares
      issued to third party consultants as a material part of this transaction in
      consideration of services rendered. As a result, the shareholders and affiliates
      of Easy Groups (collectively, the “Easy Groups Shareholders”) gained control of
      the Registrant.





Prior
      to
      the Agreement, the Registrant had 13,561,000 shares of common stock issued
      and
      outstanding. Upon the Closing of the transaction, the Registrant had 56,088,000
      shares of common stock outstanding.


(See
      the
      Form 8-K filed with the Commission on November 3, 2006 *.* )





Page
          16
          of 20




*Recession
      of Easy Groups Limited Exchange Agreement*





On
      February 2, 2007 China Ethanol Corporation and Easy Groups Limited entered
      into
      a Rescission Agreement due to Easy Groups being unable to produce audited
      financial statements on a pro forma basis in the required filings of the annual
      and quarterly filings.





Easy
      Groups Limited agreed to deliver to China Ethanol Corporation an aggregate
      of
      Forty-Two Million Five Hundred Twenty-Seven Thousand (42,527,000) shares of
      China Ethanol Corporation’s Common Stock for cancellation and return to the
      Company’s treasury.





Prior
      to
      the Agreement, there was a commitment to issue 42,527,000 shares of China
      Ethanol Corporation which would have resulted in a total of 56,088,000 shares
      of
      common stock outstanding, however, no shares were issued which results in only
      13,561,000 shares of common stock issued and outstanding.





*Acquisition
      of FullCo Limited*





On
      April
      27, 2007, Easy Groups Limited, a Nevada corporation (the “Registrant” or “Easy
      Groups”) entered into an Agreement and Plan of Share Exchange (“Exchange
      Agreement”), FullCo Industrial Limited, a limited liability company incorporated
      under the laws of the Hong Kong, China (“FullCo”) and each of the shareholders
      of the FullCo (“FullCo Shareholders”). FullCo is specialized in research and
      development, production and sale of nanometer level health food, cosmetic,
      biologic antibacterial disinfecting product, as well as Chinese traditional
      medicine products. The company obtains the state authentication of high and
      new
      technology enterprise and is simultaneously an academician enterprise in the
      hi-tech zone.




Upon
      consummation of the Exchange Agreement on the Closing Date, Easy Groups will
      acquire FullCo by issuing 90,000,000 shares of its common stock (the “Easy
      Groups Shares”) to the FullCo Shareholders and consultants, and in exchange,
      FullCo Shareholders shall assign 100% of the outstanding common stock of the
      FullCo to Easy Groups. As a result of the transactions contemplated under the
      Exchange Agreement, (1) Easy Groups would acquire the business and operations
      of
      the FullCo, and (2) Easy Group’s principal business activities shall consist of
      the business of FullCo,





In
      connection with the execution of the Exchange Agreement, Easy Groups, FullCo
      and
      Xi’an Landway are entering into a Guarantee and Assumption Agreement (“Guarantee
      Agreement”), under which the FullCo and Xi’an Landway shall agree to be jointly
      and severally liable with FullCo and the FullCo Shareholders for each and every
      obligation and liability of FullCo and the FullCo Shareholders under the
      Exchange Agreement as if it were a party to the Exchange Agreement.





Easy
      Group’s completion of the transactions contemplated under the Exchange Agreement
      are subject to the satisfaction of certain contingencies including, without
      limitation, the delivery of U.S. GAAP audited annual, interim reviewed and
      pro
      forma financial information of FullCo (on a consolidated basis with the FullCo
      and Xi’an Landway) acceptable to Easy Groups, compliance with regulatory
      requirements, and the execution of the Restructuring Agreements. Consummation
      of
      the exchange transaction is also conditioned upon, among other things, continued
      quotation of Easy Group’s common stock on the OTCBB





*Business
      of Company*





At
      this
      time, the Company has no viable business operations and is searching for
      business operations that can be incorporated into the Company.





*Employees*





The
      Company employs 1 person at the Company's executive offices.





Page
          17
          of 20




*Government
      Regulation*





The
      Company's business activities are subject only to general governmental
      regulations.





*Results
      of Operations for the six months ended March 31, 2005 and March 31,
      2004*





Revenues.
      The Company generated $0 in revenue during the nine months ended June 30, 2005.
      During the same nine-month period in 2004, the Company generated revenue of
      $0.
      The lack of revenue is primarily due to the disposal of its subsidiary 360
      House.





Operating
      Expenses. Operating expenses for the nine months ended June 30, 2005 was $0
      compared to $0 for the nine months ended June 30, 2004. The lack of operating
      expenses is due primarily to the disposal of its subsidiary 360 House.





During
      the nine months ended June 30, 2005, the Company had a net loss of $82,608
      compared to a net loss of $938,574 for the nine months ended June 30, 2004.
      The
      decrease in net loss results primarily from the write off of the investment
      in
      360House as described above.





*Liquidity
      and Capital Resources*





As
      of
      June 30, 2005, the Company had no cash on hand, total current assets of $0,
      total current liabilities of $103,011 and total stockholder's equity deficit
      of
      $103,011 as compared to stockholders' equity deficit of $65,383 at September
      30,
      2004. With the discontinued operations the Company is now considered to be
      again
      in the development stage. The Company expects to continue to experience negative
      cash flow until it is able to acquire or develop substantial
      operations.





The
      Company will continue to have the need for infusions of capital. To date, the
      Company has met its working capital needs through payments under subscription
      agreements or contributed capital and anticipates that such payments will
      continue over the next several months. Additional investor capital infusions
      will result in greater dilution to the existing shareholders. Therefore, future
      equity contributions may depend, to some extent, on results of acquiring or
      developing operations. There can be no assurance that the Company will be able
      to attract new investors or that the current venture investors will continue
      to
      fund operations. In such event as the loss of current funding there is no
      assurance that the Company will be able to locate a source of capital, or on
      terms acceptable to the Company or to reduce costs sufficient to maintain the
      operations of the Company at its current level.





**ITEM
      3. CONTROLS AND PROCEDURES.**





*Evaluation
      of Disclosure Controls and Procedures* .
      Our
      Chief Executive Officer Reed Benson, who is also serving as the Chief Financial
      Officer , performed an evaluation of our disclosure controls and procedures,
      which have been designed to permit us to effectively identify and timely
      disclose important information. They concluded that the controls and procedures
      were effective as of June 30, 2005 to provide reasonable assurance that the
      information required to be disclosed by the Company in reports it files under
      the Exchange Act is recorded, processed, summarized and reported within the
      time
      periods specified in the rules and forms of the SEC. While our disclosure
      controls and procedures provide reasonable assurance that the appropriate
      information will be available on a timely basis, this assurance is subject
      to
      limitations inherent in any control system, no matter how well it may be
      designed or administered.




*Changes
      in* *Internal
      Controls.* There
      was no change in our internal control over financial reporting during the
      quarter ended June 30, 2005, that materially affected, or is reasonably likely
      to materially affect, our internal control over financial
      reporting.




Page
          18
          of 20




**PART
      II - OTHER INFORMATION**





**ITEM
      1. LEGAL PROCEEDINGS**





We
      are
      not involved in any material pending legal proceedings at this time, and
      management is not aware of any contemplated proceeding by any governmental
      authority.





**ITEM
      2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
      PROCEEDS**





None





**ITEM
      3. DEFAULTS UPON SENIOR SECURITIES**





None





**ITEM
      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**





None





**ITEM
      5. OTHER INFORMATION**





This
      Form
      10-QSB filing is being filed in the name of China Bionanometer Industries
      Corporation. On August 28, 2006, Xvariant, Inc. changed its name to China
      Ethanol Corporation. On November 17, 2006, China Ethanol Corporation changed
      its
      name to Easy Groups Limited. On June 20, 2007, Easy Groups Limited changed
      its
      name to China Bionanometer Industries Corporation and obtained a new symbol
      which is CBIU.





**ITEM
      6. EXHIBITS AND REPORTS ON FORM 8-K**





(a)
      Exhibits




**INDEX
      TO EXHIBITS**


**OF**


**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**





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
            Section
                1350 Certifications.





(b)
      None.





Page
          19
          of 20




**SIGNATURES**





Pursuant
      to the requirements of Section 13 of 15(d) of the Securities and Exchange Act
      of
      1934, the Registrant has duly caused this report to be signed on its behalf
      by
      the undersigned, thereunto duly authorized.




**China
                  Bionanometer Industries Corporation**
                (Registrant)






/s/ Wang Wen’geng
              Wang
                Wen’geng, Chief Executive Officer
              (Principal
                executive officer)




Dated:
      October 25, 2007





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          20
          of 20