**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 March 31, 2006**


**-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
            (I.R.S.
                Employer Identification No.)incorporation
                or organization)




**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 November 14, 2007, there are 103,561,000.










**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


**FORM
      10-QSB**


**Quarter
      Ended March 31, 2006**





**TABLE
      OF CONTENTS**





**FINANCIAL
                INFORMATION**
            **PAGE**Item
                1.
            Consolidated
                Financial StatementsConsolidated
                Balance Sheet as March 31, 2006 (unaudited)
            4Consolidated
                Statement of Operations for the Six Months Ended March 31, 2006 and
                March
                31, 2005
            5Consolidated
                Statement of Stockholders’ Equity/(Deficit)
            6Consolidated
                Statement of Cash Flow for the Six Months Ended March 31, 2006 and
                March
                31, 2005
            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**


Page
          2 of
          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.


Page
          3 of
          20


**PART
      1: FINANCIAL INFORMATION**





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Balance
      Sheets**


(Unaudited)





March
                31,
              2006
            
            September
                30,
              2005
              (Audited)**ASSETS**Current
                AssetsCash
            
            $
            -
            
            $
            -Total
                Assets
            
            $
            -
            
            $
            -**LIABILITIES
                AND STOCKHOLDERS' EQUITY**Current
                LiabilitiesNet
                Liabilities of Discontinued Operations
            
            $
            -
            
            $
            -Total
                Liabilities
            
            
            -
            
            
            -Stockholders'
                EquityCommon
                Stock: 50,000,000 shares authorized, $0.001 par value; 13,561,100
                shares
                issued and outstanding at March 31, 2006 and September 30, 2005
                respectively
            
            
            13,561
            
            
            13,561Paid
                in Capital
            
            
            4,124,041
            
            
            4,109,041Accumulated
                Deficit
            
            
            (4,137,602
            )
            
            (4,122,602
            )Total
                Stockholders' Equity
            
            
            -
            
            
            -Total
                Liabilities and Stockholders' Equity
            
            $
            -
            
            $
            -





The
      accompanying notes are an integral part of these statements


Page
          4 of
          20





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Consolidated
      Statements of Operations**


(Unaudited)





Six
                Months Ended
            
            Three
                Months EndedMarch
                31,
            
            March
                31,2006
            
            2005
            
            2006
            
            2005Revenue,
                net
            
            $
            -
            
            $
            -
            
            $
            -
            
            $
            -Operating
                ExpensesGeneral
                and Administrative
            
            
            -
            
            
            -
            
            
            -
            
            
            -Loss
                From Operations
            
            
            -
            
            
            -
            
            
            -
            
            
            -Extraordinary
                Items:Discontinued
                Operations
            
            
            (15,000
            )
            
            (55,707
            )
            
            -
            
            
            (23,194
            )Total
                Extraordinary Income (Expense)
            
            
            (15,000
            )
            
            (55,707
            )
            
            -
            
            
            (23,194
            )Net
                (Loss)
            
            $
            (15,000
            )
            $
            (55,707
            )
            $
            -
            
            $
            (23,194
            )Basic
                and Diluted (Loss) per ShareContinuing
                Operations
            
            $
            0.00
            
            $
            0.00
            
            $
            0.00
            
            $
            0.00Discontinued
                Operations
            
            $
            (0.00
            )
            $
            (0.00
            )
            $
            (0.00
            )
            $
            (0.00
            )Weighted
                    Average Number of Shares
            
            
            13,561,100
            
            
            13,561,100
            
            
            13,561,100
            
            
            13,561,100




The
      accompanying notes are an integral part of these statements


Page
          5 of
          20





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Consolidated
      Statement of Stockholders' Equity/(Deficit)**


(Unaudited)





Common
                Stock
            
            Paid
                in
            
            Accumulated
            
            TotalShares
            
            Amount
            
            Capital
            
            (Deficit)
            
            Equity**Balance,
                October 1, 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
            
            
            
            
            
            
            
            
            133,408
            
            
            
            
            
            133,408Net
                (Loss)
            
            
            
            
            
            
            
            
            
            
            
            (68,025
            )
            
            (68,025
            )**Balance,
                September 30, 2005**
            
            
            13,561,100
            
            
            13,561
            
            $
            4,109,041
            
            $
            (4,122,602
            )
            $
            -Contributed
                Capital
            
            
            -
            
            
            -
            
            
            15,000
            
            
            -
            
            
            15,000Net
                (Loss)
            
            
            
            
            
            
            
            
            
            
            
            (15,000
            )
            
            (15,000
            )**Balance,
                March 31, 2006**
            
            
            13,561,100
            
            
            13,561
            
            $
            4,124,041
            
            $
            (4,137,602
            )
            $
            -




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)





Six
                Months EndedMarch
                31,2006
            
            2005Operating
                ActivitiesNet
                Income (Loss)
            
            $
            (15,000
            )
            $
            (55,707
            )Adjustments
                to reconcile net income (Loss):Discontinued
                Operations
            
            
            -
            
            
            55,707Balance
                Sheet Adjustments:(Increase)
                Decrease in Accounts Receivable
            
            
            -
            
            
            -Increase
                (Decrease) in Accrued Liabilities
            
            
            -
            
            
            -Net
                Cash (Used) by Operating Activities
            
            
            (15,000
            )
            
            -Investing
                ActivitiesDisposal/(Purchase)
                of Equipment
            
            
            -
            
            
            -Cash
                (Used) in Investing Activities
            
            
            -
            
            
            -Financing
                ActivitiesContributed
                Capital
            
            
            15,000
            
            
            -Cash
                provided by financing
            
            
            15,000
            
            
            -Net
                Increase (Decrease) in Cash
            
            
            -
            
            
            -Cash,
                Beginning of Period
            
            
            -
            
            
            -Cash,
                End of Period
            
            $
            -
            
            $
            -Supplemental
                InformationTaxes
            
            $
            -
            
            $
            -Interest
            
            $
            1,659
            
            $
            -




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**


(March
      31, 2006 and September 30, 2005)





**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.





On
      June
      20, 2007 the Company changed its name to China Bionanometer Industries
      Corporation.


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 with a September 30 fiscal year-end.





b.
      Accounts Receivable





The
      Company has discontinued its operations and has no accounts
      receivable.





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





e.
      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.





g.
      Revenue Recognition





The
      Company currently has no sources of revenue.





h.
      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.





**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 $4,137,602 at March 31, 2006,
      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.


Page
          9 of
          20





The
      Company discontinued operations and is exploring the possibility of purchasing
      an operating enterprise and will have to rely on the sale of stock or capital
      contributions from its shareholders to continue as a going concern. However,
      there can be no assurance that the Company will be able to secure additional
      debt and equity financing.





**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





The
      condensed financial statements of the discontinued operations
      follow:


Page
          10 of
          20





**BALANCE
      SHEETS**





March
                31,
            
            September
                30,2006
            
            2005**ASSETS**Cash
            
            $
            -
            
            $
            -Accounts
                Receivable - Net
            
            
            -
            
            
            -Property
                and Equipment, Net
            
            
            -
            
            
            -Net
                Assets of Discontinued Operations
            
            $
            -
            
            $
            -**LIABILITIES**Trade
                accounts payable and accrued expenses
            
            $
            -
            
            $
            -Capital
                leases
            
            
            -
            
            
            -Net
                Liabilities of Discontinued Operations
            
            $
            -
            
            $
            -




**STATEMENTS
      OF OPERATIONS**





For
                the Six Months EndedMarch
                31,2006
            
            2005Revenue
            
            $
            6,162
            
            $
            5,922Operating
                Expenses:General
                and Administrative
            
            
            7,893
            
            
            36,535Sales
                and Marketing
            
            
            -
            
            
            -Depreciation
                and amortization
            
            
            -
            
            
            1,874Total
                Operating Expenses
            
            
            7,893
            
            
            38,409Loss
                From Operations
            
            
            (1,731
            )
            
            (32,487
            )Total
                other Income (Expense)
            
            
            (13,269
            )
            
            (23,220
            )Net
                (Loss)
            
            $
            (15,000
            )
            $
            (55,707
            )Basic
                    and Diluted (Loss) per Share
            
            $
            (0.00
            )
            $
            (0.00
            )Weighted
                    Average Number of Shares
            
            
            13,561,100
            
            
            13,561,100




Page
          11 of
          20


**NOTE
      5 - COMMON STOCK TRANSACTIONS**





The
      Company is authorized 50,000,000 common shares at a $0.001 par value and at
      September 30, 2003 had issued and outstanding 13,561,100 shares.





During
      the year ended September 30, 2005 the company received contributed capital
      in
      the amount of $133,408 in order to meet its obligations.





During
      the 6 months ended March 31, 2006 the company received contributed capital
      in
      the amount of $15,000 in order to meet its obligations.




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





Below
      is
      a listing of the most recent accounting standards SFAS 150-154 and their effect
      on the Company.





**Statement
      No. 150**  *Accounting
      for Certain Financial Instruments with Characteristics of both Liabilities
      and
      Equity* (Issued
      5/03)





This
      Statement establishes standards for how an issuer classifies and measures
      certain financial instruments with characteristics of both liabilities and
      equity.





**Statement
      No. 151**  *Inventory
      Costs* -an
      amendment of ARB No. 43, Chapter 4 (Issued 11/04)





This
      statement amends the guidance in ARB No. 43, Chapter 4, *Inventory
      Pricing* ,
      to
      clarify the accounting for abnormal amounts of idle facility expense, freight,
      handling costs, and wasted material (spoilage). Paragraph 5 of ARB 43, Chapter
      4, previously stated that “...under some circumstances, items such as idle
      facility expense, excessive spoilage, double freight and re-handling costs
      may
      be so abnormal ass to require treatment as current period charges....” This
      Statement requires that those items be recognized as current-period charges
      regardless of whether they meet the criterion of “so abnormal.” In addition,
      this Statement requires that allocation of fixed production overheads to the
      costs of conversion be based on the normal capacity of the production
      facilities.





**Statement
      No. 152**  *Accounting
      for Real Estate Time-Sharing Transactions* (an
      amendment of FASB Statements No. 66 and 67)





This
      Statement amends FASB Statement No. 66, *Accounting
      for Sales of Real Estate* ,
      to
      reference the financial accounting and reporting guidance for real estate
      time-sharing transactions that is provided in AICPA Statement of Position (SOP)
      04-2, *Accounting
      for Real Estate Time-Sharing Transactions* .





This
      Statement also amends FASB Statement No. 67, Accounting *for
      Costs and Initial Rental Operations of Real Estate Projects* ,
      states
      that the guidance for (a) incidental operations and (b) costs incurred to sell
      real estate projects does not apply to real estate time-sharing transactions.
      The accounting for those operations and costs is subject to the guidance in
      SOP
      04-2.





**Statement
      No. 153**  *Exchanges
      of Non-monetary Assets* (an
      amendment of APB Opinion No. 29)





The
      guidance in APB Opinion No. 29, *Accounting
      for Non-monetary Transactions* ,
      is
      based on the principle that exchanges of non-monetary assets should be measured
      based on the fair value of the assets exchanged. The guidance in that Opinion,
      however, includes certain exceptions to the principle. This Statement amends
      Opinion 29 to eliminate the exception for non-monetary exchanges of similar
      productive assts and replaces it with a general exception for exchanges of
      non-monetary assets that do not have commercial substance. A non-monetary
      exchange has commercial substance if the future cash flows of the entity are
      expected to change significantly as a result of the exchange.





Page
          12 of
          20




**Statement
      No. 154** *Accounting Changes and Error Corrections (a replacement of APB Opinion No.
      20
      and FASB Statement No. 3)*





This
      Statement replaces APB Opinion No. 20, *Accounting
      Changes,* and FASB
      Statement No. 3, *Reporting
      Accounting Changes in Interim Financial Statements,* and
      changes the requirements for the accounting for and reporting of a change in
      accounting principle. This Statement applies to all voluntary changes in
      accounting principle. It also applies to changes required by an accounting
      pronouncement in the unusual instance that the pronouncement does not include
      specific transition provisions. When a pronouncement includes specific
      transition provisions, those provisions should be followed.





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.


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





**NOTE
      7- 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.
 
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            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.
 
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            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, 2006 and March 31,
        2005*
 
 Revenues.
        The Company generated $0 in revenue during the six months ended March 31,
        2006.
        During the same six-month period in 2005, 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 six months ended March 31, 2006 was
        $0
        compared to $0 for the six months ended March 31, 2005. The lack of operating
        expenses is due primarily to the disposal of its subsidiary 360 House.
 
 During
        the six months ended March 31, 2006, the Company had a net loss of $15,000
        compared to a net loss of $55,707 for the six months ended March 31, 2005.
        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
        March 31, 2006, the Company had no cash on hand, total current assets of
        $0,
        total current liabilities of $91,110 and total stockholder's equity of $0
        as
        compared to stockholders' equity of $0 at September 30, 2005. 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 March 31, 2006 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 March 31, 2006, 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’gengWang
                      Wen’geng, Chief Executive Officer(Principal
                      executive officer)
 
 Dated:
        November 26, 2007
 
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