UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM
10-K  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934  For
the fiscal year ended March 31, 2010  Commission file number:  333-147169  jetPADS, Inc. (Exact name of registrant as specified in its charter)  Nevada

26-24347451(State or other jurisdiction of incorporation or
organization)

(I.R.S. Employer Identification No.)650 S Hill St., J-4, Los Angeles, CA

90014(Address of principal executive offices)

(Zip Code)  Registrants
Telephone Number, including area code: (310)
728-6579  Securities registered
under Section 12(b) of the Exchange Act:  Title
of each class: Name
of each exchange on which registered: N/A N/A  Securities registered
under Section 12(g) of the Exchange Act:  N/A (Title of class)  Indicate by check
mark if the registrant is a well-known seasoned issuer, as defined in Rule 405
of the Securities Act.  [  ]  Yes  [X]  No  Indicate by check
mark if the registrant is not required to file reports pursuant to Section 13 or
Section 15(d) of the Act.  [  ]  Yes  [X]  No  Note  Checking the
box above will not relieve any registrant required to file reports pursuant to
Section 13 or 15(d) of the Exchange Act from their obligations under those
Sections.  Indicate by check
mark whether the registrant (1) has filed reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act during the preceding 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  [X]  No  Indicate by checkmark
whether the registrant has submitted electronically and posted on its corporate
Website, if any, every Interactive Data File required to be submitted and posted
pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for
such shorter period that the registrant was required to submit and post such
files.)  [  ]  Yes  [x]  No (Not required)    Indicate
by check mark if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-K contained herein, and will not be contained, to the best
of registrants knowledge, in definitive proxy or information statements
incorporation by reference in Part III of this Form 10-K or any amendment to
this Form 10-K.  [  ]  Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer,
a non-accelerated filer, or a smaller reporting company.  See the
definitions of large accelerated filer, accelerated filer, and smaller
reporting company in Rule 12b-2 of the Exchange Act.  Large
accelerated filer
[
 ]
Accelerated
filer
[
 ]Non-accelerated
filer
[  ] (Do
not check if a smaller reporting company)
Smaller
reporting company
[x]   Indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act).  [  ]  Yes  [x]  No  State the aggregate
market value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was last sold, or
the average bid and asked price of such common equity, as of the last business
day of the registrants most recently completed second fiscal quarter.
 $0.00.  Registrant was approved for trading on the OTCBB on November
12, 2008.  No trading occurred during Registrants second quarter.  Indicate the number
of shares outstanding of each of the registrants classes of common stock, as of
the latest practicable date:  10,000,000 shares of common stock as of July
29, 2010.    PART I  Item 1.
 Business  Business
Development jetPADS, Inc. was
incorporated on March 26, 2008, in the state of Nevada.  We are a
development stage company.  As of March 31, 2010, we have not commenced
significant revenue generating activities and we have few assets.  The
Company has entered into several agreements to act as a short-term rental agent
on behalf of owners of various vacation properties.  These agreements allow
for the Company to be compensated by commission based on a percentage of the
gross rental fee charged to a user of the property.  We have never declared
bankruptcy, we have never been in receivership, and we have never been involved
in any legal action or proceedings.  Since becoming incorporated, we have
not made any significant purchase or sale of assets, nor have we been involved
in any mergers, acquisitions, or consolidations.  Business of
Issuer jetPADS, Inc. (the
Company or jetPADS) is in the business of developing, owning, operating, and
franchising jetPAD Homes and jetPAD Hotels worldwide. jetPAD Homes and jetPAD
Hotels and their amenities are designed to appeal particularly to up-market
travelers, featuring many of the creature comforts of a luxurious home or condo
and providing well-appointed, high quality amenities and service to a burgeoning
marketplace.  Through the rapid development and franchising of jetPAD Homes
and jetPAD Hotels, the Company's goal is to capitalize on an underserved demand
for worldwide luxury extended stay travel homes and hotels by creating and
fostering a brand based on luxury, service, and commitment to excellence.  The Company launched
its jetPADHomes.com website in the fall of 2008, and has launched into the first
phase of its development of franchising and branding luxuriously appointed homes
and condominiums with the jetPADS name.  The concept of jetPAD
Homes involves tapping into the growth of the vacation rental market industry.
 jetPAD Homes will cost-effectively initiate the Companys first phase of
its development by securing contracts with existing luxury homes and
condominiums in highly vacationed spots around the world, and branding them with
the jetPADS name.  jetPAD Homes will all feature amenities such as high-end
electronics, luxurious finishes, custom embroidered linens, fully-equipped chef
kitchens, immaculate furnishings and design, views/location, and a team of
people dedicated to customer satisfaction and excellence.  The Company has
secured contracts with luxury home and condo owners.  This will allow
jetPAD Homes representatives to market an existing inventory to high-end
clientele world-wide.  The Company will secure 30% commissions for all
bookings made for jetPAD Homes and create a proven business model that it can
then expand into the second phase of its operations, the design and construction
of jetPAD Hotels worldwide.  GROWTH AND
DEVELOPMENT STRATEGIES  The Company plans to
secure contracts with prospective homeowners through the contacts and
connections of its president and director, Mr. Kanaat.  Mr. Kanaats
contacts own some of the most luxurious homes and condominiums around the world
and have tentatively agreed to participate in the jetPAD Homes program.  The Company intends
to secure contracts and implement its brand development strategy by placing key
advertisements strategically throughout print and Web-based media.  While
focusing on fostering its brand and continuously securing additional high-end
properties worldwide, the Company will simultaneously launch into a sales
campaign, utilizing an enterprise version of the TenantWIZ Vacation Rental
Software system to manage and close all sales leads.    OPERATING
STRATEGIES  The Companys
operating strategies will be primarily based around securing and marketing
jetPAD luxury homes and condominiums in its first phase of development.  The Companys
founder, Mr. Kanaat, will utilize his connections to create a base inventory of
secured luxury properties worldwide to be used in the marketing and advertising
of jetPAD Homes.  Sales associates and concierge staff will be brought on
board as customers begin signing up for memberships for the jetPAD Homes
program.  The Company will
operate its day-to-day business by utilizing an enterprise version of the
TenantWIZ Vacation Rental Software system which will track all leads, sales,
properties, digital contracts, and more through one streamlined system.  It
will work to foster its brand, while striving to deliver service at competitive
prices.  The Company will be known for providing homes and condominiums
around the world to members based on a quarterly or annual fee, as well as
varying booking fees per property.   REPORTS TO SECURITY
HOLDERS We
filed a Prospectus as part of a Form S-1, as amended, with the Securities and
Exchange Commission and will file reports, including quarterly and annual
reports, with the Commission pursuant to Section 12(b) or (g) of the Exchange
Act.  These reports and any other materials filed with the SEC may be read
and copied at the SEC's Public Reference Room at 100 F Street NE, Washington,
D.C. 20549. Information on the operation of the Public Reference Room may be
obtained by calling the SEC at 1-800-SEC-0330.  The Company files its
reports electronically with the SEC.  The SEC maintains an Internet site
that contains reports, proxy and information statements, and other information
regarding issuers that file electronically with the SEC.  The address of
that site is http://www.sec.gov. Item 1A. Risk
Factors  Not applicable.  Item 1B.
 Unresolved Staff Comments  Not Applicable.  Item 2.
Properties  The Companys
executive offices are located at 650 S. Hill St., #J-4, Los Angeles, CA 90014.
 The office is provided by the Companys officer free of charge.  The
Company currently owns no other properties at this time.  Item 3. Legal
Proceedings  We are not a party to
any pending legal proceedings.  Item 4.
 (Removed And Reserved)    PART II  Item 5. Market for
Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities.  Market price of
and Dividends on the Registrants Common Equity and Related Stockholder
Matters  Our common stock is
currently quoted on the OTC Electronic Bulletin Board (OTCBB) operated by the
Financial Industry Regulatory Authority (FINRA) under the symbol JPAD.
 Our common stock has not had any trading activity since first being quoted
on November 12, 2008.  Of the 10,000,000
shares of common stock outstanding as of March 31, 2010, 2,750,000 shares were
owned by our officers and directors, and may only be resold in compliance with
Rule 144 of the Securities Act of 1933.  Holders  As of March 31, 2010,
we have 10,000,000 shares of $0.001 par value common stock issued and
outstanding held by 31 shareholders of record.  Dividends  There are no
restrictions in our articles of incorporation or bylaws that restrict us from
declaring dividends.  The Nevada Revised Statutes, however, do prohibit us
from declaring dividends where, after giving effect to the distribution of the
dividend:  (1)  we would
not be able to pay our debts as they become due in the usual course of business;
or (2)  our total assets would be less than the sum of our total
liabilities, plus the amount that would be needed to satisfy the rights of
shareholders who have preferential rights superior to those receiving the
distribution.  We have not declared
any dividends.  We do not plan to declare any dividends in the foreseeable
future.  Recent Sales of
Unregistered Securities In
May, 2008, the Company undertook a private offering of 10,000,000 shares of its
common stock, with an offering price of $0.001 per share.  The proceeds
from this offering are to be used to cover further start-up and organizational
costs of the Corporation.  This offering was undertaken directly by the
Corporation.  The Private Placement was completed in May 2008, pursuant to
Section 4(2), and/or Regulation D, of the Securities Act.  No commissions
or fees were paid in connection with the offering. The
class of persons to whom these offerings were made was "sophisticated
investors."  As a result, offers were made only to persons that the Company
believed, and had reasonable grounds to believe, either (a) have such knowledge
and experience in financial and business matters as to be capable of evaluating
the merits and risks of the proposed investment, or (b) can bear the economic
risks of the proposed investment (that is, at the time of investment, could
afford a complete loss). Additionally, sales were made only to persons whom the
Company believed, and had reasonable grounds to believe immediately prior to
such sale and upon making reasonable inquiry, (a) are capable of bearing the
economic risk of the investment, and (b) either personally possess the requisite
knowledge and experience, or, together with their offeree's representative, have
such knowledge and experience. Securities
authorized for issuance under equity compensation plans  We do not have any
equity compensation plans and accordingly we have no securities authorized for
issuance thereunder.     Purchases
of Equity Securities by the Registrant and Affiliated Purchasers  We did not purchase
any of our shares of common stock or other securities during the year ended
March 31, 2010.  Item 6.
 Selected Financial Data.  FromInception(March 26,Year Ended
Year Ended
2008) toMarch 31,
March 31,
March 31,2009
2010
2010Total
expenses
$
  42,354
$
  233,300
$
  275,656Operating
revenue
$
  69,461
$
              -
$
    69,461Net loss
$
(42,354)
$
(163,839)
$
(206,193)Net cash
provided by financing activities
$
  10,393
72,555
82,948Cash used in
operating activities
$
(10,358)
(36,066)
(46,424)Cash and cash
equivalents on hand
$
         35
$
              -
$
          -Net loss per
common share: Basic and Diluted
$
  (0.00)
$
      (0.02)
N/AWeighted
average number of common shares outstanding:Basic
and diluted
8,630,822
10,000,000
N/ACash dividends
declared per common share
$
            -
$
              -
$
            -Property and
equipment, net
$
            -
$
              -
$
            -Long-term
debt
$
            -
$
              -
$
            -Stockholders
deficit
$
(32,354)
$
(194,674)  Item 7.
Managements Discussion and Analysis of Financial Condition and Results of
Operations.  The following
discussion should be read in conjunction with the Company's Financial Statements
and notes thereto appearing elsewhere in this Annual Report.  OVERVIEW  The Company began
operations in March 2008, and has secured contracts with homeowners and agents
through the contacts and connections of its president and director, Mr. Kanaat.
 The Company has implemented its brand development strategy by placing key
advertisements strategically throughout the Internet.  As of March 31, 2010,
the Company had booked a total of $485,704 in gross rental charges, plus booking
fees, cleaning fees, and taxes totaling $64,988, resulting in net revenue and
deferred revenue of $69,461 and $27,453, respectively.  At March 31, 2010,
the Company had received total cash of $588,423, including $53,686 in refundable
security deposits.  Of this amount, $322,712 has been remitted to the
property owners, with $106,959 remaining payable to property owners upon
renters use of the properties. At March 31, 2010, the Company had a balance of
$36,524 in restricted cash which represents a restricted cash deficit of
$82,445. The restricted cash deficit is calculated by adding the refundable
security deposits and cash payable to property owners, less a receivable due
from renters of $41,676 payable prior to the renters use of the owners
properties less the restricted cash on hand.  During the year ended
March 31, 2010, the Company booked six reservations for a property owned by our
President totaling $12,279. This resulted in cleaning fee and commission revenue
of $726 and $815, respectively. As of March 31, 2010, there is no balance due to
the property owner as a result of these bookings and $500 due to one customer
representing a refundable security deposit.  These amounts are included in
the account totals in the previous paragraph.    The Companys
founder, Mr. Kanaat, has utilized his connections to create a base inventory of
secured luxury properties worldwide used in the marketing and advertising of
jetPAD Homes.  Sales associates and concierge staff will be brought on
board as revenues for rentals continue throughout 2010 for the jetPAD Homes
program.  The Company is
already known for providing homes and condominiums around the world to customers
based on a transient rental basis (less than 30 days per rental).  RESULTS OF
OPERATIONS  The Company has begun
negotiating contracts with homeowners for inclusion in the jetPAD Homes
worldwide luxury rental inventory. The Company has begun generating revenues and
from inception through March 31, 2010, the Company has generated net revenue of
$69,461.  Total expenses for the year ended March 31, 2010, were $233,300,
and consisted of $95,078 in professional fees for accountants, attorneys and
transfer agent, $57,292 in other general and administrative expenses, $29,802 in
travel expenses, $45,698 in advertising costs, interest expenses of $4,384 and
..$1,043 in foreign currency transaction loss.  During the quarter
ended June 30, 2010, the Company entered into agreements with vacation home
owners to act as a short-term rental agent.  The agreements retain the
Company as a rental agent and not an owner nor operator of the properties.
 The Company generates revenues by receiving a commission of the gross
rental fee charged.  As of March 31, 2010, the Company had booked a total
of $485,704 in gross rental charges, plus booking fees, cleaning fees, and taxes
totaling $64,988, resulting in net revenue and deferred revenue of $69,461 and
$27,453, respectively.  Item 7A.
Quantitative and Qualitative Disclosures About Market Risk.  Not applicable.   Item 8. Financial
Statements and Supplementary Data.


[jetpadsmar1010kdraftv4aqs001.jpg]     jetPADS, Inc.(A
Development Stage Company)Balance SheetsMarch 31,2010

2009ASSETSCurrent
assetsCash
$
-

$
35Restricted cash
(Note 8)

36,524


-Accounts
receivable (Note 8)

41,676


-Prepaid
expenses

9,500


-Total
current assets

87,700


35Total
assets
$
87,700

$
35LIABILITIES AND STOCKHOLDERS' DEFICITCurrent
liabilitiesAccounts
payable
$
21,328

$
31,996Security
deposit liability (Note 8)

53,686


-Property owner
payable (Note 8)

106,959


-Related party
payables (Note 7)

72,948


393Deferred
revenue (Note 8)

27,453


-Total
current liabilities

282,374


32,389Stockholders'
DeficitCommon stock,
par value $.001, 100,000,000 shares authorized, 10,000,000 shares issued
and outstanding
10,000


10,000Additional
paid-in capital

1,519


-Deficit
accumulated during the development stage

(206,193)


(42,354)Total
stockholders' deficit

(194,674)


(32,354)Total
liabilities and stockholders' deficit
$
87,700

$
35See accompanying notes to the financial
statements   F-2    jetPADS, Inc(A
Development Stage Company)Statements of OperationsPeriod of March 26, 2008 (inception) to March 31,
2010Year ended March 31,2010

2009Revenue, net
of discounts and refunds
$
83,568

$
-

$
83,568Property
rent

(14,107)


-


(14,107)Net
revenue

69,461


-


69,461Operating
ExpensesProfessional
fees

95,078


38,906


133,984Advertising

45,698


-


45,698Travel

29,802


-


29,802Other general
& administrative

57,292


2,878


60,170Total
operating expenses

227,870


41,784


269,654Other income
(expense)Interest
expense

(4,389)


(570)


(4,959)Foreign
currency transaction loss

(1,043)





(1,043)Other
income

2


-


2Total other
income (expense)

(5,430)


(570)


(6,000)Net loss
available to common stockholders
$
(163,839)

$
(42,354)

$
(206,193)Basic and
diluted loss per common share
$
(0.02)

$
(0.00)Weighted
average shares outstanding

10,000,000


8,630,822See accompanying notes to the financial
statements    F-3


jetPADS, Inc(A
Development Stage Company)Statement of Changes in Stockholders' DeficitCommon Stock

Additional Paid-In Capital

Accumulated Deficit

TotalShares

AmountBalance, March
26, 2008 (Inception)
-

$
-

$
-

$
-

$
-Net loss,
period ended March 31, 2008
-


-


-


-


-Balance, March
31, 2008
-


-


-


-


-Common stock
issued for cash, $.001 per share
10,000,000


10,000


-


-


10,000Net loss, year
ended March 31, 2009
-


-


-


(42,354)


(42,354)Balance, March
31, 2009
10,000,000


10,000


-


(42,354)


(32,354)Imputed
interest
-


-


1,519


-


1,519Net loss, year
ended March 31, 2010
-


-


-


(163,839)


(163,839)Balance, March
31, 2010
10,000,000

$
10,000


1,519

$
(206,193)

$
(194,674)See accompanying notes to the financial
statements  F-4


jetPADS, Inc.(A
Development Stage Company)Statements of Cash FlowsFor the period March 26, 2008 (inception) to March 31,
2010Year ended March 31,2010

2009Cash flows
from operating activitiesNet loss
$
(163,839)

$
(42,354)

$
(206,193)Changes in
operating assets and liabilities:Imputed
interest on related party payable
1,519


-


1,519Increase in
accounts receivable

(41,676)


-


(41,676)Increase in
prepaid expenses

(9,500)


-


(9,500)Increase
(decrease) in accounts payable

(10,668)


31,996


21,328Increase in
security deposit liability

53,686


-


53,686Increase in
property owner payable

106,959


-


106,959Increase in
deferred revenue

27,453


-


27,453Net cash
used in operating activities

(36,066)


(10,358)


(46,424)Cash flows
from investing activitiesIncrease in
restricted cash

(36,524)


-


(36,524)Net cash
used in investing activities

(36,524)


-


(36,524)Cash flows
from financing activitiesProceeds from
related party payables

72,948


393


73,341Repayments of
related party payables

(393)


-


(393)Proceeds from
sale of common stock

-


10,000


10,000Net cash
provided by financing activities

72,555


10,393


82,948Net change
in cash

(35)


35


-Cash at
beginning of period

35


-


-Cash at end
of period
$
-


35

$
-Supplemental
Cash Flow Information:Cash paid for
interest
$
-

$
-

$
-Cash paid for
income taxes
$
-

$
-

$
-See accompanying notes to the financial
statements  F-5   jetPADS, INC. (A
Development Stage Company) Notes
to the Financial Statements For
the Years Ended March 31, 2010 and 2009 and the Period of March 26, 2008 (Inception) to March 31, 2010  Note
1  Nature of Business  jetPADS, Inc. (the Company) was incorporated on March 26, 2008
in the State of Nevada.  Its operations are primarily based in Los Angeles,
CA.  The accounting and reporting policies of the Company conform to
accounting principles generally accepted in the United States of America, and
the Companys fiscal year-end is March 31.  The
Company plans to pursue the business of securing contracts on existing luxury
homes, condominiums, apartments, and hotels.  Once the contracts have been
secured, the Company will provide further high-end luxurious amenities and
ultimately sell or rent its products to third parties.  Note
2  Significant Accounting Policies  Development Stage Enterprise  The
Company has yet to realize significant revenues from its planned business
purpose and, accordingly, is considered to be in its development stage as
defined in FASB ASC 915, Development Stage Entities.The Company has
devoted substantially all of its efforts to business planning, and development.
Additionally, the Company has allocated a substantial portion of its time and
investment in bringing its product to the market, and the raising of
capital.  Cash  For
financial statement presentation purposes, the Company considers short-term,
highly liquid investments with original maturities of three months or less to be
cash and cash equivalents.  The Company maintains cash and cash
equivalent balances at a financial institution that is insured by the Federal
Deposit Insurance Corporation up to $250,000.  At March 31, 2010 and
2009, the Company had $0 and $35 in cash and no cash
equivalents, respectively.  Revenue Recognition  The
Company's financial statements are prepared under the accrual method of
accounting. Revenues will be recognized in the period the services are performed
and costs are recorded in the period incurred rather than paid. The Company
recognized net revenues of $69,461 and $0 during the years ended March 31, 2010
and 2009, respectively.  Income taxes  The
Company accounts for income taxes under FASB ASC 740 "Income Taxes."
Under the asset and liability method of FASB ASC 740, deferred tax assets and
liabilities are recognized for the future tax consequences attributable to
differences between the financial statements carrying amounts of existing assets
and liabilities and their respective tax bases. Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be
recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and
liabilities of a change in tax rates is recognized in income in the period the
enactment occurs. A valuation allowance is provided for certain deferred tax
assets if it is more likely than not that the Company will not realize tax
assets through future operations.   F-6     jetPADS, INC. (A
Development Stage Company) Notes
to the Financial Statements For
the Years Ended March 31, 2010 and 2009 and the Period of March 26, 2008 (Inception) to March 31, 2010  Note
2  Significant Accounting Policies (continued)  Estimates  The
preparation of 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 financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.  Property and Equipment  Property and equipment are carried at cost. Expenditures for
maintenance and repairs are charged against operations. Renewals and betterments
that materially extend the life of the assets are capitalized. When assets are
retired or otherwise disposed of, the cost and related accumulated depreciation
are removed from the accounts, and any resulting gain or loss is reflected in
income for the period.  Depreciation is computed for financial statement purposes on a
straight-line basis over estimated useful lives of the related assets. The
estimated useful lives of depreciable assets are: Estimated Useful LivesFurniture and Fixtures
5
- 10 yearsComputer Equipment
3
- 5 yearsVehicles
5
- 10 years  For
federal income tax purposes, depreciation is computed under the modified
accelerated cost recovery system. For audit purposes, depreciation is computed
under the straight-line method.   At March 31, 2010 and 2009, the
Company had no property and equipment.  Advertising Costs  Advertising and promotion costs are expensed as incurred.
 The Company incurred $45,698 and $0 of such costs during the years ended
March 31, 2010 and 2009.  Recently Implemented Standards  ASC
105, Generally Accepted Accounting Principles ("ASC 105") (formerly
Statement of Financial Accounting Standards No. 168, The FASB Accounting
Standards Codification and the Hierarchy of Generally Accepted Accounting
Principles a replacement of FASB Statement No. 162) reorganized by topic
existing accounting and reporting guidance issued by the Financial Accounting
Standards Board ("FASB") into a single source of authoritative generally
accepted accounting principles ("GAAP") to be applied by nongovernmental
entities. All guidance contained in the Accounting Standards Codification
("ASC") carries an equal level of authority. Rules and interpretive releases of
the Securities and Exchange Commission ("SEC") under authority of federal
securities laws are also sources of authoritative GAAP for SEC registrants.
Accordingly, all other accounting literature will be deemed "non-authoritative".
ASC 105 is effective on a prospective basis for financial statements issued for
interim and annual periods ending after September 15, 2009. The Company has
implemented the guidance included in ASC 105 as of September 30, 2009. The
implementation of this guidance changed the Company's references to GAAP
authoritative guidance but did not impact the Company's financial position or
results of operations.  F-7      jetPADS, INC. (A
Development Stage Company) Notes
to the Financial Statements For
the Years Ended March 31, 2010 and 2009 and the Period of March 26, 2008 (Inception) to March 31, 2010  Note
2  Significant Accounting Policies (continued)  Recently Implemented Standards (continued)  In
September 2009, the FASB issued ASC Update No. 2009-12, Fair Value
Measurements and Disclosures (Topic 820): Investments in Certain Entities that
Calculate Net Asset Value per Share (or Its Equivalent) ("ASC Update No.
2009-12"). This update sets forth guidance on using the net asset value per
share provided by an investee to estimate the fair value of an alternative
investment. Specifically, the update permits a reporting entity to measure the
fair value of this type of investment on the basis of the net asset value per
share of the investment (or its equivalent) if all or substantially all of the
underlying investments used in the calculation of the net asset value is
consistent with ASC 820. The update also requires additional disclosures by each
major category of investment, including, but not limited to, fair value of
underlying investments in the major category, significant investment strategies,
redemption restrictions, and unfunded commitments related to investments in the
major category. The amendments in this update are effective for interim and
annual periods ending after December 15, 2009 with early application permitted.
The implementation of ASC Update No. 2009-12 did not have a material effect on
the Companys financial position or results of operations.  In June
2009, the FASB issued Statement of Financial Accounting Standards No. 166,
Accounting for Transfers of Financial Assets an amendment of FASB Statement
No. 140 ("Statement No. 166"). Statement No. 166 revises FASB Statement of
Financial Accounting Standards No. 140, Accounting for Transfers and
Extinguishment of Liabilities a replacement of FASB Statement 125
("Statement No. 140") and requires additional disclosures about transfers of
financial assets, including securitization transactions, and any continuing
exposure to the risks related to transferred financial assets. It also
eliminates the concept of a "qualifying special-purpose entity", changes the
requirements for derecognizing financial assets, and enhances disclosure
requirements. Statement No. 166 is effective prospectively, for interim and
annual periods beginning after November 15, 2009.  Although Statement No. 166 has not been incorporated into the
Codification, in accordance with ASC 105, the standard shall remain
authoritative until it is integrated. The Company does not expect the adoption
of Statement No. 166 will have a material impact on its financial position or
results of operations.  In June
2009, FASB issued Statement of Financial Accounting Standards No. 167,
Amendments to FASB Interpretation No. 46(R)("Statement No. 167").
Statement No. 167 amends FASB Interpretation No. 46R, Consolidation of
Variable Interest Entities an interpretation of ARB No. 51 ("FIN 46R") to
require an analysis to determine whether a company has a controlling financial
interest in a variable interest entity. This analysis identifies the primary
beneficiary of a variable interest entity as the enterprise that has a) the
power to direct the activities of a variable interest entity that most
significantly impact the entity's economic performance and b) the obligation to
absorb losses of the entity that could potentially be significant to the
variable interest entity or the right to receive benefits from the entity that
could potentially be significant to the variable interest entity. The statement
requires an ongoing assessment of whether a company is the primary beneficiary
of a variable interest entity when the holders of the entity, as a group, lose
power, through voting or similar rights, to direct the actions that most
significantly affect the entity's economic performance. This statement also
enhances disclosures about a company's involvement in variable interest
entities. Statement No. 167 is effective as of the beginning of the first annual
reporting period that begins after November 15, 2009. Although Statement No. 167
has not been incorporated into the Codification, in accordance with ASC 105, the
standard shall remain authoritative until it is integrated. The Company does not
expect the adoption of Statement No. 167 to have a material impact on its
financial position or results of operations. F-8    jetPADS, INC. (A
Development Stage Company) Notes
to the Financial Statements For
the Years Ended March 31, 2010 and 2009 and the Period of March 26, 2008 (Inception) to March 31, 2010  Note
2  Significant Accounting Policies (continued)  Recently Implemented Standards (continued)  In
October 2009, the FASB issued changes to revenue recognition for
multiple-deliverable arrangements. These changes require separation of
consideration received in such arrangements by establishing a selling price
hierarchy (not the same as fair value) for determining the selling price of a
deliverable, which will be based on available information in the following
order: vendor-specific objective evidence, third-party evidence, or estimated
selling price; eliminate the residual method of allocation and require that the
consideration be allocated at the inception of the arrangement to all
deliverables using the relative selling price method, which allocates any
discount in the arrangement to each deliverable on the basis of each
deliverables selling price; require that a vendor determine its best estimate
of selling price in a manner that is consistent with that used to determine the
price to sell the deliverable on a standalone basis; and expand the disclosures
related to multiple-deliverable revenue arrangements. These changes become
effective on January 1, 2011. The Company has determined that the adoption
of these changes will not have an impact on the financial statements, as the
Company does not currently have any such arrangements with its customers.  Accounting Standards Update  (ASU) ASU No. 2009-13
(ASC Topic 605), Multiple-Deliverable Revenue Arrangements, ASU No. 2009-14 (ASC
Topic 985), Certain Revenue Arrangements that include Software Elements, and
various other ASU's No. 2009-2 through ASU No. 2010-20 which contain technical
corrections to existing guidance or affect guidance to specialized industries or
entities were recently issued. These updates have no current applicability to
the Company or their effect on the financial statements would not have been
significant.  Note
3  Stockholders Equity  Common Stock  On
March 26, 2008, the Company was formed with one class of common stock, par value
$0.001. The Company authorized 100,000,000 shares of common stock.  In May
2008, the Company issued 10,000,000 shares of its common stock for cash at $.001
per share for a total cash consideration of $10,000. At March 31, 2010 and 2009,
the Company had 10,000,000 common shares issued and outstanding. There are no
preferred shares authorized, issued or outstanding.  The Company has no
stock option plan, warrants or other dilutive securities.  Net
loss per common share  Net
loss per share is calculated in accordance with FASB ASC 260, Earnings Per
Share. The weighted-average number of common shares outstanding during each
period is used to compute basic loss per share. Diluted loss per share is
computed using the weighted averaged number of shares and dilutive potential
common shares outstanding. Dilutive potential common shares are additional
common shares assumed to be exercised.  Basic
net loss per common share is based on the weighted average number of shares of
common stock outstanding during 2010 or 2009 and since inception. As of March
31, 2010 and 2009 and since inception, the Company had no dilutive potential
common shares.  F-9    jetPADS, INC. (A
Development Stage Company) Notes
to the Financial Statements For
the Years Ended March 31, 2010 and 2009 and the Period of March 26, 2008 (Inception) to March 31, 2010  Note
4  Income Taxes  The
Company recognizes the tax effects of transactions in the year in which such
transactions enter into the determination of net income, regardless of when
reported for tax purposes. Deferred taxes are normally provided for in the
financial statements under ASC Topic No. 740 to give effect to the resulting
temporary differences which may arise from differences in the bases of fixed
assets, depreciation methods, allowances, and start-up costs based on the income
taxes expected to be payable in future years. Operating loss carry forwards
generated during the period from March 13, 2008 (date of inception) through
March 31, 2010 of $206,193 will begin to expire in 2028, and may be limited by
the provisions of Internal Revenue Code Section 382 and other provisions as to
their utilization. Deferred tax assets of approximately $72,168 have been
completely offset by a valuation allowance that increased by $57,343 and $14,824
during the years ended March 31, 2010 and 2009, respectively.  The
Company follows the provisions of uncertain tax positions as addressed in FASC
740-10-65-1.  The Company recognized no increase in the liability for
unrecognized tax benefits.  The Company has no tax positions at March 31,
2010 for which the ultimate deductibility is highly certain but for which there
is uncertainty about the timing of such deductibility.  The Company
recognizes interest accrued related to unrecognized tax benefits in interest
expense and penalties in operating expenses.  No such interest or penalties
were recognized during the periods presented.  The Company had no accruals
for interest and penalties at March 31, 2010 or 2009.  Note
5  Going Concern  The
Company's financial statements are prepared using accounting principles
generally accepted 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 not yet established an ongoing
source of revenues sufficient to cover its operating costs and allow it to
continue as a going concern. The ability of the Company to continue as a going
concern is dependent on the Companys obtaining adequate capital to fund
operating losses until it becomes profitable. If the Company is unable to obtain
adequate capital, it could be forced to cease operations.  In
order to continue as a going concern, the Company will need, among other things,
additional capital resources. Management's plans to obtain such resources for
the Company include (1) obtaining capital from management and significant
stockholders sufficient to meet its minimal operating expenses, and (2) seeking
out and completing a merger with an existing operating company. However,
management cannot provide any assurances that the Company will be successful in
accomplishing any of its plans.  The
ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plans described in the preceding
paragraph and eventually secure other sources of financing and attain profitable
operations. The accompanying financial statements do not include any adjustments
that might be necessary if the Company is unable to continue as a going
concern.  Note
6  Subsequent Events  The
Company has evaluated subsequent events through the filing date of this document
and determined there are no items to disclose.  F-10     jetPADS, INC. (A
Development Stage Company) Notes
to the Financial Statements For
the Years Ended March 31, 2010 and 2009 and the Period of March 26, 2008 (Inception) to March 31, 2010  Note
7  Related Party Transactions  During
the year ended March 31, 2010, the Company received loans totaling $72,948 to
fund operations from related parties. The loans carry a 0% interest rate, are
due on demand and as such are included in current liabilities. Imputed interest
of $1,519 has been considered and is included in additional paid-in capital.
Additionally, the Company repaid an outstanding shareholder loan of $393 during
the year ended March 31, 2010. There were outstanding shareholder loans of
$72,948 and $393 as of March 31, 2010 and 2009.  The
Companys president provides management services on a contract basis. During the
years ended March 31, 2010 and 2009, there were $10,281 and $0 charged to
operations as a management fee.  The
Company utilizes a reservation tracking system called TenantWIZ. The system
allows for tracking of reservations, customer payments and payments remitted to
property owners. TenantWIZ was developed by the Companys sole officer and
director and is owned by TenantWIZ Software Corp., a company under his control.
Payments of $17,406 and $0 were made to TenantWIZ Software Corp for use of the
system during the years ended March 31, 2010 and 2009, respectively.  Note
8  Rental Agent Contracts  During
the year ended March 31, 2010, the Company entered into various agreements with
vacation property owners to act as a short-term rental agent on behalf of the
owners. The agreements allow for the Company to retain a commission of 10% - 60%
of the gross rental booking.  Since rental contracts between the owners and
renters are cancellable up to the point of use of the owners properties by the
renters, commissions are deferred and recognized as revenue once the renters
complete their use of the owners properties.  The remaining 40%-90% of
gross rental bookings, plus applicable taxes paid by the renters, are remitted
to the owners upon the renters use of the owners properties.  At the time
of booking, renters are required to pay a security deposit that is refundable to
them after ensuring no damage was done to the owners properties subsequent to
use by the renters.  As of
March 31, 2010, the Company had booked a total of $485,704 in gross rental
charges, plus booking fees, cleaning fees, and taxes totaling $64,988, resulting
in net revenue and deferred revenue of $69,461  and $27,453, respectively.
 At March 31, 2010, the Company had received total cash of $588,423,
including $53,686 in refundable security deposits.  Of this amount,
$322,712 has been remitted to the property owners, with $106,959 remaining
payable to property owners upon renters use of the properties. At March 31,
2010, the Company had a balance of $36,524 in restricted cash which represents a
restricted cash deficit of $82,445. The restricted cash deficit is calculated by
adding the refundable security deposits and cash payable to property owners,
less a receivable due from renters of $41,676 payable prior to the renters use
of the owners properties less the restricted cash on hand.  During
the year ended March 31, 2010, the Company booked six reservations for a
property owned by our President totaling $12,279. This resulted in cleaning fee
and commission revenue of $726 and $815, respectively. As of March 31, 2010,
there is no balance due to the property owner as a result of these bookings and
$500 due to one customer representing a refundable security deposit.  These
amounts are included in the account totals in the previous paragraph.  Note 9 
Leases  During
the year ended March 31, 2010, the Company entered into a non-cancellable lease
for a property which it intends to rent to customers. The lease requires minimum
annual rental payments of $84,000 through March 2011.  F-11


Item
9. Changes in and Disagreements with Accountants on Accounting and Financial
Disclosure. From
inception and up to the present time, the principal independent accountant for
the Company has neither resigned (nor declined to stand for reelection) nor been
dismissed.  The independent auditor for the Company is Child, Van Wagoner
& Bradshaw, PLLC, 5296 South Commerce Drive, Suite 300, Salt Lake City, UT
84107. This firm was engaged on or about May 6, 2008. Item 9A.
 Controls and Procedures.  As of March 31, 2010,
the Company carried out an evaluation of the effectiveness of the Companys
disclosure controls and procedures (as defined by Rule 13a-15(e) under the
Securities Exchange Act of 1934) under the supervision and with the
participation of the Chief Executive Officer and Chief Financial Officer. Based
on and as of the date of such evaluation, the aforementioned officers have
concluded that the Companys disclosure controls and procedures were not
effective for the reasons discussed herein.  The matters involving
internal controls and procedures that our management considered to be material
weaknesses under the standards of the Public Company Accounting Oversight Board
were:  (1) inadequate segregation of duties consistent with control
objectives.  The aforementioned material weakness was identified by our
Chief Executive Officer in connection with the review of our financial
statements as of March 31, 2010.  Management believes
that the material weakness set forth above did not have an effect on our
financial results.  The Company also
maintains a system of internal accounting controls that is designed to provide
assurance that assets are safeguarded and that transactions are executed in
accordance with managements authorization and properly recorded. This system is
continually reviewed and is augmented by written policies and procedures, the
careful selection and training of qualified personnel and an internal audit
program to monitor its effectiveness. During the fiscal year ended March 31,
2010, there were no significant changes to this system of internal controls or
in other factors that could significantly affect those controls.   Managements
Report on Internal Control over Financial Reporting  Our management is
responsible for establishing and maintaining adequate internal control over
financial reporting as defined in Rule 13a-15(f) under the Exchange Act.
Internal control over financial reporting refers to a process designed by, or
under the supervision of our Chief Executive Officer and Chief Financial Officer
and effected by our Board, management, and other personnel, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles, including those policies and
procedures that:   -
pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of our assets;-
provide
reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted
accounting principles, and that our receipts and expenditures are being
made only in accordance with authorizations of our management and
directors; and    -
provide
reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of our assets that could have
a material effect on our financial statements.  Because of its
inherent limitations, internal control over financial reporting cannot provide
absolute assurance of the prevention or detection of misstatements. In addition,
projections of any evaluation of effectiveness to future periods are subject to
risk that controls may become inadequate because of changes in conditions, or
that the degree of compliance with the policies or procedures may
deteriorate.  In connection with
the preparation of this Annual Report on Form 10-K for the year ended March 31,
2010, management, with the participation of our Chief Executive Officer and
Principal Financial Officer, has evaluated the effectiveness of our internal
controls over financial reporting, pursuant to Rule 13a-15 under the Exchange
Act.  Management conducted its evaluation of the Companys internal control
over financial reporting based on the framework in Internal Control 
Integrated Framework,issued by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO).  Based on that evaluation, our Chief
Executive Officer and Chief Financial Officer has concluded that the design and
operation of our internal controls and procedures were not effective as of March
31, 2010, for the reasons disclosed above. There were no significant changes in
our internal controls over financial reporting that occurred during the fourth
fiscal quarter that have materially affected, or are reasonably likely to
materially affect, our internal controls over financial reporting.  This Annual Report on
Form 10-K does not include an attestation report of the Companys independent
registered public accounting firm regarding internal control over financial
reporting. Managements report was not subject to attestation by our registered
public accounting firm pursuant to temporary rules of the Securities and
Exchange Commission that permit us to provide only managements report in this
Annual Report on Form 10-K.  Item 9B. Other
Information  None.    PART III  Item 10.
Directors, Executive Officers and Corporate Governance.  The following table
sets forth certain information regarding each person who is a Director or
Executive Officer of the Company.  Name
Age
PositionRobert
Kanaat
32
Chairman of the
Board, President, Chief Executive Officer, Chief Financial Officer,
Treasurer, Secretary  Robert Kanaat is
Chairman of the Board, President and Chief Executive Officer of the Company
since its inception.  On March 3, 2009, Mr. Kanaat was appointed Chief
Financial Officer, Treasurer and Secretary.  Mr. Kanaat earned a Bachelor
of Arts degree in Political Science (2000) from New York University's College of
Arts and Sciences.  Mr. Kanaat began his entrepreneurial activities in 2001
when he founded iSculptors, Inc., a firm specializing in interactive Web design
services, developing feature-rich websites and web applications with Active
Server Pages (ASP), Macromedia Flash, Databases, and other Web-based
technologies.  In 2004, Mr. Kanaat was the co-founder and CEO of Elemental
Software, Inc., a Los Angeles-based Internet technology company which developed
proprietary Web-based Shopping Cart software which was marketed within North
America.  Mr. Kanaat created all of the product and service offerings and
assisted in recruiting talented personnel at important stages in the development
of the business.  Since May 2007, Mr. Kanaat has been the founder and
President of TenantWIZ Software Corp. which is the proprietary developer of a
web-based Vacation Rental software system, Tenantwiz.com.  Legal
Proceedings.  During the past ten
years, none of our Directors or Officers has been a party to any bankruptcy
proceeding; has been convicted in a criminal proceeding; is subject to any
order, judgment or decree of any court of competent jurisdiction permanently or
temporarily enjoining, barring, suspending or otherwise limiting his involvement
in any type of business, securities or banking activities; and been found by a
court of competent jurisdiction, the Commission or the Commodity Futures Trading
Commission to have violated a federal or state securities or commodities
law.  Compliance with
Section 16(a) of the Exchange Act  Because we do not
have a class of equity securities registered pursuant to Section 12 of the
Exchange Act, our executive officers, directors and persons who beneficially own
more than 10% of our common stock are not required to file initial reports of
ownership and reports of changes in ownership with the SEC under Section 16(a)
of the Exchange Act.   Code of
Ethics  As of the date of
this Annual Report, we have not adopted a corporate code of ethics.  Audit
Committee The Company does not
currently have a separate audit committee.  All of the members of the Board
of Directors currently serve as the audit committee.  None of the Directors
qualify as a financial expert.    Item 11. Executive
Compensation.  Following is the
Summary Compensation table showing compensation of officers for the years ended
March 31, 2009 and 2010.  SUMMARY COMPENSATION
TABLEName and principal position
Year
Salary ($)
Bonus ($)
Stock Awards ($)
Option Awards ($)
Non-Equity Incentive Plan Compensation ($)
Nonqualified Deferred Compensation Earnings
($)
All Other Compensation ($)
Total ($)Robert Kanaat, President
2009
2010
$ 0
$ 10,281.21(1)
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 0
$ 14,813.53(1)
$ 0
$ 0 (1) Mr.
Kanaat received $10,281.21 as management fees and $14,813.53 in consideration
for the forgiveness of debt owed to the Company by Mr. Kanaat.  There are no annuity,
pension or retirement benefits proposed to be paid to officers, directors, or
employees of the corporation in the event of retirement at normal retirement
date pursuant to any presently existing plan provided or contributed to by the
corporation or any of its subsidiaries.  Director
Compensation Members of the
Companys Board of Directors do not receive compensation, as such, at this time.
 Following is the Summary Compensation table showing compensation for
directors for paid for the years ended March 31, 2009 and 2010.  DIRECTOR COMPENSATIONName
Fees Earned orPaid in Cash
($)
Stock Awards ($)
Option Awards ($)
Non-Equity Incentive Plan
Compensation($)
Change in Pension Value and
Nonqualified Deferred Compensation Earnings ($)
All Other Compensation ($)
Total ($)Robert Kanaat
0
0
0
0
0
0
0   Stock Option
Grants As of the date of
this Annual Report the Company has not granted any stock options  Employment
Agreements We do not have any
employment or consultant agreements with our officers and directors.    Item
12. Security Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters.  The following table
sets forth certain information regarding beneficial ownership of the Common
Stock as of March 31, 2010, hereby (i) by each person who is known by the
Company to beneficially own more than five percent of the Common Stock, (ii) by
each of the Company's Directors, (iii) by each of the Named Executive Officers
and (iv) by all Executive Officers and Directors as a group.  Except as
otherwise indicated, the persons named in the table have sole voting and
investment power with respect to all shares beneficially owned, subject to
community property laws where applicable.  Name of
Beneficial Owner of Common Shares
Address
of Beneficial Owner of common Shares
Number
of Common Shares Owned
Percentage of
Issued and Outstanding Common SharesRobert Kanaat,
Chairman of the Board, CEO
17022
Calahan StNorthridge, CA 91325
2,750,000
27.5%Officers and
Directors as a Group (1)

2,750,000
27.5%   Item 13. Certain
Relationships and Related Transactions, and Director Independence  As of the date of
this Report, no transactions with related persons, promoters and certain control
persons have been entered into by the Company.  Item 14. Principal
Accounting Fees and Services.  Audit Fees:
All fees billed for each of the last two fiscal years for professional services
rendered by the principal accountant for the audit of the registrant's annual
financial statements and the review of financial statements included in the
registrant's Form 10-Q or services that are normally provided by the accountant
in connection with statutory and regulatory filings or engagements for those
fiscal years.  2009: $9,500 2010 $15,275  Audit-Related
Fees: All fees billed in each of the last two fiscal years for assurance and
related services by the principal accountant that are reasonably related to the
performance of the audit or review of the registrant's financial statements and
are not reported under Item 9(e)(f1) of Schedule 14A.  2009: $
0 2010: $0  Tax Fees: The
aggregate fees billed in each of the last two fiscal years for professional
services rendered by the principal accountant for tax compliance, tax advice,
and tax planning:  2009: $
0 Nature
of Services: 2010: $
0 Nature
of Services    Preparation of the
Companys corporate tax return for the fiscal year ended March 31, 2010 is
currently underway.  All Other
Fees:  2009: $
0 2010: $
0   PART IV  Item 15. Exhibits,
Financial Statement Schedules.  The following
exhibits are included with this filing:  Exhibit Number Description  3.1 Articles
of Incorporation (1) 3.2  Bylaws
(1) 31.1 Rule
13a-14(a)/15d-14(a) Certification 32.1 Section
1350 Certification  (1) Filed
with the Securities and Exchange Commission on June 24, 2008, as an exhibit
numbered as indicated above, to the Registrants registration statement on Form
S-1 (file no. 333-151867), which exhibit is incorporated herein by
reference.  SIGNATURES  Pursuant to the
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.  jetPADS,
Inc.   By:      
***/s/ Robert
Kanaat*** Robert
Kanaat Chairman
of the Board, Chief Executive Officer, Principal
Financial Officer, Principal
Accounting Officer