UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
 
 FORM
10-K
  (Mark
One)
 x
              Annual
      Report  Pursuant to Section 13 or 15(d) of
      The  Securities  ExchangeAct
      of 1934 for the Fiscal Year Ended December 31,
  2008
 
  
 o
              Transition  Report  Pursuant  to  Section  13
      or  15(d)  of The  SecuritiesExchange
      Act of 1934 for the transition
                period
      from _______ to _______
 
 Commission
File Number 000-51140
 
 CURATECH
INDUSTRIES, INC.
 (Name of
registrant as specified in its charter)
  Nevada
              87-0649332(State
      or other jurisdiction of
              (I.R.S.
      Employerincorporation
      or organization)
              Identification
      No.)
 
 6337 Highland Drive, #1053,
Salt Lake City, Utah 84121
 (Address
of principal executive offices) (Zip Code)
 
 Registrant's
telephone number, including area code.:  (801) 616-2355
 
 Securities
registered pursuant to Section 12(b) of the Exchange Act:
 
 None
                (Title
      of each class)
              N/A
                (Name
      of Exchange on which registered)
 
 Securities
registered pursuant to Section 12(g) of the Exchange Act:
 
 Common Stock, $0.001 par
value
 (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 o   No
x
 
 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 o   No
x
 
 Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 x No o
 
 Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and will not be contained, to the best
of the registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. o
 
 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 o
              Accelerated
      filer oNon-accelerated
      filer o (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 Act).   Yes o No x
  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 voting and
non-voting 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. As of June 30, 2008, the aggregate value of the
voting and non-voting common equity held by non-affiliates was $5,314,115 based
upon approximately 8,856,859 shares held by non-affiliates, and the average of
the bid price and the asked price of $0.60 per share.
 
 Indicate
the number of shares outstanding of each of the registrant's classes of common
stock, as of the latest practicable date.
  
  Class
              Outstanding
      as of March 26, 2009Common Stock,
      Par Value $0.001
              17,580,199
      shares
  DOCUMENTS
INCORPORATED BY REFERENCE
 
 List
hereunder the following documents if incorporated by reference and the Part of
the Form 10-K (e.g., Part I, Part II, etc.) into which the document is
incorporated:  (1) Any annual report to security  holders;
(2) Any proxy or information statement; and (3) Any prospectus filed pursuant to
Rule 424(b) or (c) under the Securities Act of 1933.  The listed
documents should be clearly described for identification purposes (e.g., annual
report to security holders for fiscal year ended December 24,
1980).  None
  
 
 CURATECH
INDUSTRIES, INC.
 
 TABLE OF
CONTENTS
  Page
  PART
I
  Item  1.
              Business
              3Item  1A.
              Risk
      Factors
              8Item  1B.
              Unresolved
      Staff Comments
              13Item  2.
              Properties
              13Item  3.
              Legal
      Proceedings
              13Item  4.
              Submission
      of Matters to a Vote of Security Holders
              13PART
      IIItem  5.
              Market
      for Registrant’s Common Equity, Related StockholderMatters
      and Issuer Purchases of Equity Securities
              14Item  6.
              Selected
      Financial Data
              15Item  7.
              Management's
      Discussion and Analysis of Financial Conditionand
      Results of Operations
              15Item  7A.
              Quantitative
      and Qualitative Disclosures about Market Risk....
              22Item  8.
              Financial
      Statements and Supplementary Data
              22Item  9.
              Changes
      in and Disagreements with Accountants on Accountingand
      Financial Disclosure
              37Item  9A.
              Controls
      and Procedures
              37Item  9B.
              Other
      Information
              38PART
      IIIItem  10.
              Directors,
      Executive Officers and Corporate Governance
              38Item  11.
              Executive
      Compensation
              41Item  12.
              Security
      Ownership of Certain Beneficial Owners and Managementand
      Related Stockholder Matters
              43Item  13.
              Certain
      Relationships and Related Transactions and DirectorIndependence
              44Item  14.
              Principal
      Accounting Fees and Services
              46Item  15.
              Exhibits
      and Financial Statement Schedules
              47
  
  PART I
 
 Note
Regarding Forward Looking Statements
 
 This
Annual Report on Form 10-K includes statements that may constitute
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 26A of the Securities Act of 1933,
as amended.  The Company would like to caution readers regarding
certain forward-looking statements in this document and in all of its
communications to shareholders and others.  Statements that are based
on management’s projections, estimates and assumptions are forward-looking
statements.  The words believe, expect, anticipate, intend and similar
expressions generally identify forward-looking statements. While the Company
believes in the veracity of all statements made herein, forward-looking
statements are necessarily based upon a number of estimates, and assumptions
that, while considered reasonable by the Company, are inherently subject to
significant business, economic and competitive uncertainties and contingencies
and known and unknown risks. Many of the uncertainties and contingencies can
affect events and the Company’s actual results and could cause its actual
results to differ materially from this expressed in any forward-looking
statements made by, or on behalf, of the Company.
 
 
 Item  1.      Business
 
 
 Business
Development
 
 History
 
 On March
3, 2000, the board of directors of our former parent corporation, Draco Holding
Corporation, unanimously approved the formation of Jump'n Jax, Inc., a Utah
corporation ("Jump'n Jax")(“the Company”), as a wholly-owned subsidiary of
Draco.  Jump'n Jax operated its business of leasing inflatable balloon
bounce-houses for parties and outdoor activities in Southern Utah.
 
 From its
formation in March 2000, Jump'n Jax consistently incurred operating losses, with
only a few exceptions where it showed nominal profits.  We financed
ongoing operations through various loans and contributions made by two persons
who then served as officers of the Company, Messrs. Clissold and
Moulton.
 
 On
January 1, 2006, the board of directors elected to officially cease our bounce
house operations.  This decision was due, in part, to the lack of
profitability of the operations and the resignation of the primary bounce house
operator.  We are deemed to have re-entered the development stage on
January 1, 2006.
 
 On
October 26, 2006, we completed the acquisition of MedaCure International, Inc.,
a Nevada corporation located in Salt Lake City, Utah (“MedaCure”). The
acquisition was consummated pursuant to an agreement entered into on June 22,
2006, whereby we agreed to merge our newly created, wholly-owned subsidiary,
CuraTech Acquisitions, Inc., with and into MedaCure with MedaCure being the
surviving entity as our wholly owned subsidiary.
 
 Prior to
completion of the acquisition, on October 4, 2006 we effected a 4 shares for 1
share forward stock split of our issued and outstanding shares of common stock
and changed our corporate name to CuraTech Industries, Inc. As a result of the
forward stock split, our outstanding shares of common stock increased from
807,602 shares to 3,230,408 shares. We have also changed our corporate domicile
from the State of Utah to Nevada.
 
 Under the
terms of the merger agreement, we issued an aggregate of approximately
12,342,239 shares of our common stock, post-split, to the stockholders of
MedaCure.  MedaCure is now a wholly-owned subsidiary of the
Company.  Also, we have added to our board of directors three new
directors nominated by MedaCure.
  3
 
 Business of MedaCure
International, Inc.
 
 MedaCure
was organized as a Nevada corporation by Shirlee Dastrup on April 25, 2006 for
the purpose of acquiring, developing and marketing a certain health supplement
that is believed to enhance and build-up the body’s natural immune system
defenses in both humans and animals. Initially, MedaCure intends to commence
commercial marketing of its supplement primarily outside the U.S. Initial
marketing in the U.S. will primarily be to the veterinarian market for use in
treating animals. MedaCure is also looking at the possibility of initiating a
collaboration and partnering program that will focus on developing business
alliances designed to generate sales, applications and marketing
opportunities.
 
 MedaCure
acquired its product pursuant to a purchase agreement in May 2006 from the
inventor, Dr. William Stacey. Under the terms of the agreement, MedaCure
acquired all formulas, recipes and manufacturing and marketing rights relating
to the product in consideration for $150,000 and 537,500 shares of MedaCure
common stock. Dr. Stacey will serve as a consultant MedaCure’s business and the
further development and eventual manufacturing and marketing of the
product.
 
 Presently
the Company and its subsidiary, MedaCure, maintain their joint office at 6337
Highland Drive, # 1053, Salt Lake City, Utah 84121, and its telephone number is
(801) 616-2355. Management intends to consider establishing corporate
headquarters, manufacturing base and laboratory facilities in Orem, Utah,
located just south of Salt Lake City.
 
 Product
 
 The
MedaCure supplement is manufactured using a variety of components that are
either natural or previously FDA approved ingredients. The combination of the
components has not been approved by the FDA. The Company believes that the
supplement is applicable to both humans and animals and can cause the body’s
immune system to re-awaken from a state of suppression that can occur due to
numerous factors including genetic predisposition, types of foods a person eats
and environmental contamination. The Company also believes that the supplement
can modulate the body’s immune system allowing the system to better fight
diseases naturally by attacking infections from pathogens (disease producing
organisms).
 
 The
immune system is a complex network of specialized organs, glands and cells that,
when working properly, protect the body from pathogens such as virus, bacteria,
fungus and other foreign tissues. The MedaCure supplement is based on the theory
that certain chemicals found on the surface of the T4 lymphocyte (a “helper”
white blood cell) attract pathogens. Activation of the T4 is critical to the
activation of the immune response. Activation takes place when the T4 cell
recognizes the antigen displayed by the invading pathogen. An antigen is the
substance to which the body reacts by producing antibodies. The function of the
T4 is to act as a control for the rest of the immune system. Once activated, the
T4 cell produces immune proteins that in turn activate the “killer” cells. The
T4 directs and coordinates these other killer cells of the immune system that do
the actual killing of the specific antigen producing pathogen and protects the
body. This is done by chemical signals passed from one cell to another or
chemical signals released into the blood stream.
  4
 
 Once
infected by a pathogen, the T4 no longer sends out the proper signals to
stimulate other cells. The pathogen is attracted to the very spot where the T4
receives messages from other cells. These spots are called "receptors." As the
disease progresses, more and more T4 lymphocytes are infected and can no longer
receive messages that tell it the body is infected. Slowly the body's ability to
fight off infection declines.
 
 The
Company believes that the MedaCure product increases the number of cells that
kill infected cells and increases the number of cells that protect the bodies
from infection. The supplement is designed to break the attraction the pathogen
has for the T4 lymphocyte receptor site. Once the T4 is free of the pathogen it
can again send the proper signals to the other cells of the immune
system.
 
 MedaCure’s
supplement can be used by both humans and animals. In humans, it can be taken
intraveneously (IV), sublingually, orally or by topical cream. IV application
requires FDA approval, for which MedaCure has not yet applied. The Company has
arranged for manufacturing its product in capsule form through a third party
manufacturer.
 
 Manufacturing
 
 The
Company has arranged for a third party manufacturer known as ProPac Labs to
manufacture the Company’s product in capsule form.  The first 85,000
capsules were manufactured by the third party manufacturer for the Company in
November 2008.  Another 700,000 capsules have been manufactured during
2009.
 
 Warehousing
 
 The
company is now searching for a suitable warehouse location in Utah County, State
of Utah in which to store the Company’s MedaCure product as it is
manufactured.  The Company is searching for warehouse space of
approximately 3,000 square feet.  The Company anticipates leasing the
space from a third party once suitable warehouse space is located for the
Company.
 
 Marketing
 
 The
Company has not yet commenced sales of its MedaCure product.  The
Company anticipates that sales of the MedaCure product may commence in the
second quarter of 2009.
 
 The
Company plans to sell the MedaCure product to both the health and medical
industries as well as the veterinarian industry. Initially, MedaCure will
concentrate on the veterinary market in foreign countries and then in the U.S.
The Company intends to use direct selling efforts through pharmaceutical sales
personnel, exhibits, Internet web site, presentations at trade shows, scientific
meetings, medical conferences, as well as through networks built up through
existing product sales and distributor relationships. MedaCure is currently
negotiating to establish a network of distributors to promote and market its
product. At present, we are negotiating with two groups of potential
distributors. The Company also intends to establish a collaboration and
partnering programs that will focus on developing business alliances designed to
generate sales, applications and marketing opportunities.
 
 The
Company's initial marketing strategy will focus on establishing distributors for
a licensing fee. Those territories on which the Company will concentrate will
include North America (which includes United States and Canada) and Mexico. As
business warrants and funds are available, the Company intends to expand its
marketing into South America, Europe and other parts of the world.
  5
 
 Intellectual Property and
Patent Protection
 
 MedaCure
has filed a patent application relating to the MedaCure product with the U.S.
Patent and Trademark Office.  The application is presently
pending.  The Company intends to aggressively defend and expand its
intellectual property and technology by pursuing patent and/or copyright
protection in the future as deemed necessary. The Company also filed its PCT
application for international protection in July 2008, and that application is
pending. We intend to pursue comprehensive intellectual property coverage in the
United States and in the most relevant foreign markets in anticipation of future
commercialization opportunities. MedaCure also intends to rely on trade secrets,
common law trademark rights and trademark registrations, and will continue to
protect its intellectual property via non-disclosure agreements, license
agreements and limited information distribution.
 
 Facilities
 
 The
Company currently occupies office facilities in Salt Lake City, Utah consisting
of approximately 500 square feet of office space. Management is presently
looking for a warehouse facility, most likely in Utah County, Utah. Once it
locates an appropriate warehouse facility, the Company will most likely move its
principal offices to that location. Management believes that it will locate and
secure an acceptable facility in the second or third quarters of 2009. It is
estimated that the Company will need a facility of at least 3,000 square
feet.
 
 Employees
 
 The
Company presently has three full time employees and one consultant, but
anticipates adding employees as it establishes its warehouse facility. The
Company’s employees are not members of any union, nor have they entered into any
collective bargaining agreements, nor is it anticipated in the near future. It
is believed that MedaCure’s relationship with its employees is
good.
 
 Plan of
Operations
 
 In
November 2008, we engaged a third party manufacturer to begin manufacturing the
MedaCure product.  A total of 785,000 capsules have been manufactured
to date. Our next priority will be to establish new facilities for our corporate
headquarters and to warehouse the product. Management is seeking a 3,000 square
foot facility that can be leased on a long-term basis. The facility will also
handle shipping of product. We have not selected a final site, but we are
searching for one in Utah County.
 
 Contemporaneous
with selecting the site for our headquarters and warehouse, we will be creating
a distribution network that will focus on initiating a collaboration and
partnering program and developing business alliances designed to generate sales,
applications and marketing opportunities. At present, we are negotiating with
two groups of potential distributors. We anticipate that during the next 12
months we will hire approximately 10-15 persons, 3-5 for administrative duties,
and 7-10 for sales and marketing.
 
 1.
              We
      estimate that during the next 12 months we will need approximately
      $500,000 to establish our warehouse facility, establish a sales and
      distribution network, and begin selling activities. We anticipate that the
      source of these funds will be from the private sale of securities and/or
      other financing activities conducted by our officers and directors. We
      anticipate that we will be able to raise approximately $500,000 during
      2009.
  6
  Competition
 
 The
health and supplement industry is highly competitive and is marked by rapid
changes and new products. Other competitors and potential competitors include
several large national and international companies involved in the health and
supplement business. Most existing and potential competitors have greater
financial resources, larger market share, and larger production and technology
research capability, which may enable them to establish a stronger competitive
position than we have, in part through greater marketing opportunities. If we
fail to address competitive developments quickly and effectively, we will not be
able to grow our business or remain a viable entity.
 
 Research and
Development
 
 The
Company has not incurred any research and development expenses in the fiscalyears
ended December 31, 2008 and 2007.  The Company has no present plans to
incur research and development expenses in the current year.
 
 Sources and Availability of
Raw Materials
 
 Raw
materials used in the manufacturing of the MedaCure product are available from
many sources.
 
 Government
Regulations
 
 MedaCure’s
supplement and its related promotional and marketing activities are subject to
extensive governmental regulation by numerous domestic and foreign governmental
agencies and authorities, including the FDA, the FTC, the Consumer Product
Safety Commission, the United States Department of Agriculture, state attorneys
general and other state regulatory agencies, and similar government agencies in
each country in which we intend to operate. These regulations can limit our
ability to import products into new markets and can delay introductions of new
products into existing markets as we attempt to comply with the registration and
approval process for our products.
 
 MedaCure’s
product may be strictly regulated in certain markets in which the Company
intends to operate. These markets have varied regulations that apply to and
distinguish nutritional health supplements from “drugs” or “pharmaceutical
products.” For example, the FDA of the United States under the Federal Food,
Drug and Cosmetic Act regulates the product. The Federal Food, Drug and Cosmetic
Act has been amended several times with respect to nutritional supplements, most
recently by the Nutrition Labeling and Education Act and the Dietary Supplement
Health and Education Act. The Dietary Supplement Health and Education Act
establishes rules for determining whether a product is a dietary supplement.
Under this statute, dietary supplements are regulated more like foods than
drugs, are not subject to the food additive provisions of the law, and are
generally not required to obtain regulatory approval prior to being introduced
to the market. None of this limits, however, the FDA’s power to remove an unsafe
substance from the market. In the event a product, or an ingredient in a
product, is classified as a drug or pharmaceutical product in any market, we
would generally not be able to distribute that product in that market through
our distribution channel because of strict restrictions applicable to drug and
pharmaceutical products.
  7
 
 Most
existing major markets also regulate product claims and advertising regarding
the types of claims and representations that can be made regarding the efficacy
of products, particularly dietary supplements. Accordingly, these regulations
can limit the Company’s ability to inform consumers of the full benefits of its
product. For example, in the United States, the Company is unable to make any
claim that its supplement will diagnose, cure, mitigate, treat or prevent
disease. The Dietary Supplement Health and Education Act permits only
substantiated, truthful and non-misleading statements of nutritional support to
be made in labeling, such as statements describing general well-being resulting
from consumption of a dietary ingredient or the role of a nutrient or dietary
ingredient in affecting or maintaining a structure or a function of the body. In
addition, all product claims must be substantiated.
 
 
 Item  1A.     Risk
Factors
 
 You
should carefully consider the risks and uncertainties described below and other
information in this report. If any of the following risks or uncertainties
actually occur, our business, financial condition and operating results, would
likely suffer. Additional risks and uncertainties, including those not yet
identified or that we currently believe are immaterial, may also adversely
affect our business, financial condition or operating results.
 
 Risks Relating to Our
Business as a Result of the MedaCure Acquisition
 
 We
will require additional financing to proceed with our business activities. There
can be no assurance that financing will be available on terms beneficial to us,
or at all.
 
 MedaCure
was recently formed and has only a very limited operating history. We estimate
that we will need financing of approximately $500,000 during the next 12 months
to proceed with our anticipated business activities. If we need to raise
additional capital by selling equity or equity-linked securities, these
securities would dilute the ownership percentage of our existing stockholders.
Also, these securities could have rights, preferences or privileges senior to
those of our common stock. If we raise additional capital by issuing debt
securities, those securities may contain covenants that restrict us in terms of
how we operate our business, which could also affect the value of our common
stock. Without additional funding, we may not be able to achieve profitable
operations, which would most likely have a material negative impact on our
business and future prospects. There can be no assurance that we will be able to
raise future capital on terms that will be reasonable and beneficial to us, or
at all.
 
 MedaCure
has a limited operating history and has not recorded revenues or operating
profits since its inception. Continuing losses may exhaust our capital resources
and force us to discontinue operations.
 
 MedaCure
was incorporated in April 2006, has a limited operating history and has
continually incurred net losses since inception. Jump’n Jax, Inc., now known as
CuraTech Industries, Inc., has been in operation since March 2000, but has
realized only nominal revenues in recent years and has a net stockholders’
equity of only $163,353 as of December 31, 2008. The potential for us to
generate future profits depends on many factors, including the
following:
 
 ·
              our
      ability to secure adequate funding to complete research and development
      and to commercially market MedaCure’s
product;
  8
  ·
              the
      size and timing of any future customer orders, milestone achievement,
      product delivery and customer acceptance, if
  required;
 ·
              success
      in developing, maintaining and enhancing strategic relationships with
      potential customers;
 ·
              our
      ability to protect our intellectual
property;
 ·
              actions
      by competitors towards the development and marketing of products that will
      compete directly with ours;
 ·
              the
      costs of maintaining and expanding operations;
  and
 ·
              our
      ability to attract and retain a qualified work
  force.
 
 There can
be no assurance that we will achieve any of the foregoing factors or realize
profitability in the immediate future, or at any time.
 
 If
we cannot achieve commercial application of MedaCure’s product, we may not
achieve profitability.
 
 The
development of a market for MedaCure’s product is dependent on the creation and
implementation of a successful marketing plan and the acceptance of the product
in the marketplace. This development may be impacted by many factors including,
but not limited to the following:
 
 ·
              existence
      of competing products and emergence of new
  products;
 ·
              inability
      to finalize a successful marketing
strategy;
 ·
              lack
      of acceptance of MedaCure’s product;
and
 ·
              inability
      to adjust to changes in the marketplace and to keep pace with with
      competitors.
 
 If we
fail to develop adequate market for MedaCure’s product or if we are unable to
successfully compete with other existing and new products, we may not achieve
profitability.
 
 Certain
government regulations concerning approval of MedaCure’s product may negatively
impact our business following the acquisition of MedaCure.
 
 It may be
necessary for MedaCure’s product to be approved by one or more agencies of the
Federal government, including the Food and Drug Administration. Government
regulations concerning the product and its use by humans may be burdensome and
costly and could negatively impact our business. Although we believe the product
does not require FDA approval for the initial application in the U.S. for animal
treatment, we do not know the extent to which any such regulations may impact
the product or our business. Any new regulation may increase costs and could
reduce our potential to be profitable following completion of the
merger.
 
 The
industry in which MedaCure operates is highly competitive and could affect our
results of operations, which would make profitability even more difficult to
achieve and sustain.
 
 The
health and supplement industry is highly competitive and is marked by rapid
changes and new products. Other competitors and potential competitors include
several large national and international companies involved in the health and
supplement business. Most existing and potential competitors have greater
financial resources, larger market share, and larger production and technology
research capability, which may enable them to establish a stronger competitive
position than we have, in part through greater marketing opportunities. If we
fail to address competitive developments quickly and effectively, we will not be
able to grow our business or remain a viable entity.
  9
 
 Our
business could be adversely affected by any adverse economic developments in the
health and supplement industry and/or the economy in general.
 
 We depend
on the perceived initial demand for the MedaCure product in the U.S. and foreign
markets in the treatment of animals. Therefore, our business is susceptible to
downturns in the health and supplement industry and the economy in general. Any
significant downturn in the market or in general economic conditions would
likely hurt our business.
 
 If
we fail to keep up with changes affecting the MedaCure product and the markets
that we will ultimately offer the product, we will become less competitive and
thus adversely affect future financial performance.
 
 In order
to remain competitive and serve its potential effectively, we must respond on a
timely and cost-efficient basis to changes in health and supplement products in
general, industry standards and procedures and customer preferences. Management
believes that to remain competitive, we will need to continuously develop new
products and applications for existing products. In some cases these changes may
be significant and the cost to comply with these changes may be substantial. We
cannot assure you that we will be able to adapt to any changes in the future or
that we will have the financial resources to keep up with changes in the
marketplace. Also, the cost of adapting to any changes in MedaCure’s product may
have a material and adverse effect on our operating results.
 
 Our
business could be adversely affected by local, state, national, international
laws or regulations.
 
 Our
future success depends in part on laws and regulations that exist, or are
expected to be enacted around the world. These laws and regulations could
negatively affect our business and anticipated revenues. We cannot guarantee a
positive outcome in direction, timing, or scope of laws and regulations that may
be enacted which will affect our business.
 
 Our
future success depends on retaining our existing key employees and hiring and
assimilating new key employees. The loss of key employees or the inability to
attract new key employees could limit our ability to execute our growth
strategy, resulting in lost sales and a slower rate of growth.
 
 Our
future success depends in part on our ability to retain our key employees
including its executive officers. Although following the acquisition we expect
to have employment agreements with these executives, each executive may be able
to terminate his or her agreement at any time. We anticipate obtaining in the
futures "key man" insurance for one or more of our key executives. It would be
difficult for us to replace any one of these individuals. In addition, as we
grow we may need to hire additional key personnel. We may not be able to
identify and attract high quality employees or successfully assimilate new
employees into our existing management structure.
 
 We
may be unable to protect our intellectual property adequately or cost
effectively, which may cause us to lose market share or reduce
prices.
 
 Our
future success depends in part on our ability to protect and preserve
proprietary rights related to MedaCure’s product. We cannot assure you that we
will be able to prevent third parties from using our intellectual property
rights and technology without our authorization. Although we have not obtained
any patents on our product yet, we are pursuing a patent application related to
our Medacure product which is now pending.  We may in the future file
for patent protection for our product and will also rely on trade secrets,
common law trademark rights and trademark registrations. We will also employ
confidentiality and work for hire, development, assignment and license
agreements with employees, consultants, third party developers, licensees and
customers. However, these measures afford only limited protection and may be
flawed or inadequate. Also, enforcing intellectual property rights could be
costly and time-consuming and could distract management’s attention from
operating business matters.
  10
 
 Our
intellectual property may infringe on the rights of others, resulting in costly
litigation.
 
 In recent
years, there has been significant litigation in the United States involving
patents and other intellectual property rights. In particular, there has been an
increase in the filing of suits alleging infringement of intellectual property
rights, which pressure defendants into entering settlement arrangements quickly
to dispose of such suits, regardless of their merits. Other companies or
individuals may allege that we infringe on their intellectual property rights.
Litigation, particularly in the area of intellectual property rights, is costly
and the outcome is inherently uncertain. In the event of an adverse result
against future rights we may acquire, we could be liable for substantial damages
and we may be forced to discontinue our use of the subject matter in question or
obtain a license to use those rights or develop non-infringing alternatives. Any
of these results would increase our cash expenditures, adversely affecting our
financial condition.
 
 We
may not be able to manage any future growth effectively, which could adversely
affect our operations and financial performance.
 
 The
ability to manage and operate our business as we execute our development and
growth strategy will require effective planning. Possible future growth could
strain our management and internal resources and cause other problems that could
adversely affect our financial performance. We expect that our efforts to grow
will place a significant strain on personnel, management systems, infrastructure
and other resources. Our ability to manage future growth effectively will also
require us to successfully attract, train, motivate, retain and manage new
employees and continue to update and improve our operational, financial and
management controls and procedures. If we do not manage our growth effectively,
our operations could be adversely affected, resulting in slower growth and a
failure to achieve or sustain profitability.
 
 Being
a public company involves increased administrative costs, which could result in
lower net income and make it more difficult for us to attract and retain key
personnel.
 
 As a
public company, we incur significant legal, accounting and other expenses that
MedaCure did not incur as a private company. In addition, the Sarbanes-Oxley Act
of 2002 as well as new rules subsequently implemented by the SEC, have required
changes in corporate governance practices of public companies. We expect that
these new rules and regulations will increase our legal and financial compliance
costs and make some activities more time consuming. For example, in connection
with being a public company, we may have to create several board committees,
implement additional internal controls and disclose controls and procedures,
retain a transfer agent and financial printer, adopt an insider trading policy
and incur costs relating to preparing and distributing periodic public reports
in compliance with our obligations under securities laws. These new rules and
regulations could also make it more difficult for us to attract and retain
qualified executive officers and members of our board of directors, particularly
to serve on our audit committee.
  11
 
 Risks
Relating to Ownership of Our Common Stock
 
 We
cannot assure you that there will be an active trading market for our common
stock and it could be difficult for holders of our common stock to liquidate
their shares.
 
 Our
common stock is quoted on the OTC Bulletin Board.  The price of our
shares has been volatile, our shares are thinly traded, and liquidation of a
person’s holdings may be difficult. Thus, holders of our common stock may be
required to retain their shares for a long period of time.
 
 We
do not anticipate paying dividends in the foreseeable future, which could make
our stock less attractive to potential investors.
 
 We
anticipate that we will retain any future earnings and other cash resources for
future operation and development of our business and do not intend to declare or
pay any cash dividends in the foreseeable future. Any future payment of cash
dividends will be at the discretion of our board of directors after taking into
account many factors, including our operating results, financial condition and
capital requirements. Corporations that pay dividends may be viewed as a better
investment than corporations that do not.
 
 Future
sales or the potential for sale of a substantial number of shares of our common
stock could cause our market value to decline and could impair our ability to
raise capital through subsequent equity offerings.
 
 Sales of
a substantial number of shares of our common stock in the public markets, or the
perception that these sales may occur, could cause the market price of our
common stock to decline and could materially impair our ability to raise capital
through the sale of additional equity securities.
 
 It
may be difficult for a third party to acquire us, and this could depress our
stock price.
 
 Under
Nevada corporate law, we are permitted to include or exclude certain provisions
in our articles of incorporation and/or by-laws that could discourage
information contests and make it more difficult for you and other stockholders
to elect directors and take other corporate actions. As a result, these
provisions could limit the price that investors are willing to pay in the future
for shares of our common stock. For example:
 
 ·
              Without
      prior stockholder approval, the board of directors has the authority to
      issue one or more classes of preferred stock with rights senior to those
      of common stock and to determine the rights, privileges and inference of
      that preferred stock;
 ·
              Under
      Nevada law, we are not required to provide for, and our by-laws do not
      provide for, cumulative voting in the election of directors, which would
      otherwise allow less than a majority of stockholders to elect director
      candidates; and
 ·
              Stockholders
      cannot call a special meeting of
stockholders.
  12
  Trading
in our shares is subject to certain "penny stock” regulation which could have a
negative effect on the price of our shares in the public trading
market.
 
 Public
trading of our common stock on the OTCBB is subject to certain provisions,
commonly referred to as the penny stock rule, promulgated under the Securities
Exchange Act of 1934. A penny stock is generally defined to be any equity
security that has a market price less than $5.00 per share, subject to certain
exceptions. If our stock is deemed to be a penny stock, trading in our stock
will be subject to additional sales practice requirements on broker-dealers.
These may require a broker dealer to:
 
 ·
              make
      a special suitability determination for purchasers of penny
      stocks;
 ·
              receive
      the purchaser's written consent to the transaction prior to the purchase;
      and
 ·
              deliver
      to a prospective purchaser of a penny stock, prior to the first
      transaction, a risk disclosure document relating to the penny stock
      market.
  Consequently,
penny stock rules restrict the ability of broker-dealers to trade and/or
maintain a market in our common stock. Also, many prospective investors may not
want to get involved with the additional administrative requirements, which may
have a material adverse effect on the trading of our shares.
  
 Item  1B.   Unresolved
Staff Comments
 
 Not
applicable.
 
 
 Item  2.      Properties
 
 In March
of 2008 we purchased a residential property in North Carolina for the sum of
$230,862. We intend to use this property as an east coast headquarters for our
operations, or to sell the property for a profit, if the real estate market so
dictates. .
 
 
 Item  3.      Legal
Proceedings
 
 
 There are
no material pending legal proceedings to which we or our subsidiary is a party
or to which any of our property is subject and, to the best of our knowledge, no
such action against us is contemplated or threatened.
 
 
 Item  4.      Submission
of Matters to a Vote of Security Holders
 
 
 No matter
was submitted to a vote of our security holders, through the solicitation of
proxies or otherwise, during the fourth quarter of the fiscal year covered by
this report.
  13
  PART
II
 
 Item  5.      Market
for Registrant’s Common Equity, Related Stockholder Matters
and Issuer Purchases of Equity Securities
 
 
 Market
Information
 
 Our
common stock is currently included on the OTC Bulletin Board under the symbol
“CUTC.OB”.  The shares are thinly traded and a limited market
presently exists for the shares.  The following table describes, for
the respective periods indicated, the prices of the Company common stock in the
over-the-counter market, based on inter-dealer bid prices, without retail
mark-up, mark-down or commissions and may not necessarily represent actual
transactions.  The quotations have been provided by market makers in
common stock and/or Pink Sheets LLC.
 
 Quarter ended
                
                High bid
                
                
                Low bidMarch
      31, 2007
                
                $
                2.00
                
                
                $
                1.65June
      30, 2007
                
                $
                2.00
                
                
                $
                1.50September
      30, 2007
                
                $
                3.00
                
                
                $
                1.70December
      31, 2007
                
                $
                2.35
                
                
                $
                0.51March
      31, 2008
                
                $
                2.20
                
                
                $
                1.25June
      30, 2008
                
                $
                1.60
                
                
                $
                0.50September
      30, 2008
                
                $
                0.75
                
                
                $
                0.28December
      31, 2008
                
                $
                0.60
                
                
                $
                0.29
 Based on
its trading price, our common stock is considered a “penny stock” for
purposes of federal securities laws, and therefore has been subject to certain
regulations, which are summarized below.
 
 The
Securities Enforcement and Penny Stock Reform Act of 1990 requires special
disclosure relating to the market for penny stocks in connection with trades in
any stock defined as a “penny stock.”  Specifically, Rules 15g-1
through 15g-9 under the Securities Exchange Act of 1934 (the “Exchange Act”)
impose sales practice and disclosure requirements on NASD broker-dealers who
make a market in a “penny stock.”  Securities and Exchange Commission
regulations generally define a penny stock to be an equity security that has a
market price of less than $5.00 per share and is not listed on The NASDAQ
SmallCap Stock Market or a major stock exchange. These regulations affect the
ability of broker-dealers to sell the Company’s securities and also may affect
the ability of purchasers of the Company’s common stock to sell their shares in
the secondary market.
 
 Under the
penny stock regulations, a broker-dealer selling penny stock to anyone other
than an established customer or “accredited investor,” generally, an individual
with net worth in excess of $1,000,000 or an annual income exceeding $200,000,
or $300,000 together with his or her spouse, must make a special suitability
determination for the purchaser and must receive the purchaser’s written consent
to the transaction prior to sale, unless the broker-dealer or the transaction is
otherwise exempt. In addition, the penny stock regulations require the
broker-dealer to deliver, prior to any transaction involving a penny stock, a
disclosure schedule prepared by the Commission relating to the penny stock
market, unless the broker-dealer or the transaction is otherwise exempt. A
broker-dealer is also required to disclose commissions payable to the
broker-dealer and the registered representative and current quotations for the
securities. Finally, a broker-dealer is required to send monthly statements
disclosing recent price information with respect to the penny stock held in a
customer’s account and information with respect to the limited market in
penny stocks.
  As long
as the penny stock regulations apply to the Company’s stock, it may be difficult
to trade such stock because compliance with the regulations can delay and/or
preclude certain trading transactions.  Broker-dealers may be
discouraged from effecting transactions in the Company’s stock because of the
sales practice and disclosure requirements for penny stock. This could adversely
affect the liquidity and/or price of the Company’s common stock, and impede the
sale of the Company’s stock.
  14
 
 Stockholders
 
 We have
approximately 226 holders of record of our common stock as of March 26,
2009.  This number does not take into consideration stockholders whose
shares are held by broker-dealers, financial institutions or other
nominees.
 
 Dividend
Policy
 
 We have
never declared or paid cash dividends or made distributions in the past and
do not anticipate paying cash dividends or making distributions in
the
 foreseeable
future. We currently intend to retain and invest future earnings to finance
operations.  There are no material restrictions limiting, or that are
likely to limit, The Company’s ability to pay dividends on our securities,
except for any applicable limitations under Nevada corporate law.
 
 Equity
Compensation Plans
 
 The
Company has not approved any compensation plans under which equity securities of
the Company are authorized for issuance.
 
 Recent
sales of unregistered securities
 
 During
the fiscal year ended December 31, 2008, the Company has not sold any shares of
its common stock without registration under the Securities Act of 1933, except
for the following:
 
 During
2008, the Company received a total of $580,900 in cash from a total of seven
investors for which the Company is obligated to issue 580,900 shares of its
common stock.  The shares were sold at $1.00 per share.  As
of December 31, 2008 the shares had not been issued.  The Company
expects that certificates representing the shares sold in 2008 will be issued in
second quarter 2009.
 
 In each
transaction, the shares were issued without registration pursuant to Section
4(2) of the Securities Act of 1933 and/or Rule 506 of Regulation D for a
transaction not involving any public offering.  The certificates
representing the shares will be given a restricted legend.
 
 For
information concerning sales of shares of the Company's common stock by the
Company which were not registered under the Securities Act of 1933 during the
fiscal years ended December 31, 2006 and December 31, 2007, please refer to the
Company's annual reports on Form 10-KSB for the fiscal years ended December 31,
2006 and December 31, 2007, respectively, and to the Company’s quarterly reports
on Form 10-QSB or 10-Q for the quarters ended March 31, 2006 and 2007, June 30,
2006 and 2007 and September 30, 2006 and 2007.
 
 
 Item  6.      Selected
Financial Data
 
  A smaller
reporting company is not required to provide the information specified by this
item.
  
 Item  7.      Management's
Discussion and Analysis of Financial Condition and Reseults
of Operations
 
 The
following plan of operation should be read in conjunction with the financial
statements and accompanying notes and the other financial information appearing
elsewhere in this periodic report. The Company’s fiscal year end is December
31.
  15
 
 This
report and the exhibits attached hereto contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. The
forward-looking statements include, without limitation, statements as to
management’s good faith expectations and beliefs, which are subject to inherent
uncertainties which are difficult to predict and may be beyond the ability of
the Company to control. Forward-looking statements are made based upon
management’s expectations and belief concerning future developments and their
potential effect upon the Company. There can be no assurance that future
developments will be in accordance with management’s expectations or that the
effect of future developments on the Company will be those anticipated by
management.
 
 The words
“believes,” “expects,” “intends,” “plans,” “anticipates,” “hopes,” “likely,”
“will,” and similar expressions identify such forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other important factors that could cause the actual results, performance or
achievements of the Company, or industry results, to differ materially from
future results, performance or achievements expressed or implied by such
forward-looking statements.
 
 These
risks and uncertainties, many of which are beyond the Company’s control, include
(i) the sufficiency of existing capital resources and our ability to raise
additional capital to fund cash requirements for future operations; (ii)
uncertainties involved in the decision to acquire an existing business
opportunity or to embark on a start up venture; (iii) the ability of the Company
to achieve sufficient revenues from the operation of a business opportunity; and
(iv) general economic conditions. Although we believe the expectations reflected
in these forward-looking statements are reasonable, such expectations may prove
to be incorrect.
 
 Readers
are cautioned not to place undue reliance on these forward-looking statements
which reflect management’s view only as of the date of this report. The Company
undertakes no obligation to publicly release the result of any revisions to
these forward-looking statements which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, conditions or circumstances.
 
 The
following information should be read in conjunction with the financial
statements and notes thereto appearing elsewhere in this Form 10-K.
 
 Plan
of Operation
 
 Following
the formation of the Company in March 2000, the Company operated its business of
inflatable balloon bounce-houses for parties and outdoor activities in Southern
Utah until approximately January 2006, when the Board of directors elected to
cease bounce house operations due, in part, to the lack of profitability and the
resignation of the primary bounce house operator.
 
 Following
the completion of the acquisition of MedaCure on October 26, 2006, we have
become engaged in the developing and marketing of MedaCure’s health supplement
that is believed to enhance and build-up the body’s natural immune system
defenses in both humans and animals.  In November 2008, we engaged a
third party manufacturer to begin manufacturing the MedaCure
product.  A total of 785,000 capsules have been manufactured to date.
Our next priority will be to establish new facilities for our corporate
headquarters and to warehouse the product. Management is seeking a 3,000 square
foot facility that can be leased on a long-term basis. The facility will also
handle shipping of product. We have not selected a final site, but we are
searching for one in Utah County.
  16
 
 Contemporaneous
with selecting the site for our headquarters and warehouse, we will be creating
a distribution network that will focus on initiating a collaboration and
partnering program and developing business alliances designed to generate sales,
applications and marketing opportunities. At present, we are negotiating with
two groups of potential distributors. We anticipate that during the next 12
months we will hire approximately 10-15 persons, 3-5 for administrative duties,
and 7-10 for sales and marketing.
 
 We
estimate that during the next 12 months we will need approximately $500,000 to
establish our warehouse facility, establish a sales and distribution network,
and begin selling activities. We anticipate that the source of these funds will
be from the private sale of securities and/or other financing activities
conducted by our officers and directors. We anticipate that we will be able to
raise approximately $500,000 during 2009.
 
 Inflation
 
 In the
opinion of management, inflation has not and will not have a material effect on
our operations in the immediate future. Management will continue to monitor
inflation and evaluate the possible future effects of inflation on our business
and operations.
 
 Results
of Operations
 
 For
Fiscal Years Ended December 31, 2007 and December 31, 2008.
 
 Revenues
 
 Revenues
from continuing operations for the years ended December 31, 2008 and 2007 were
both $-0-.  This lack of revenues was due primarily to the fact that
our business pertaining to the Medacure subsidiary has not yet been sufficiently
developed.  We anticipate that we will begin to generate revenues in
the second quarter of 2009.
 
 Expenses
 
 Total
operating expenses for the period ending December 31, 2007 were $558,666 which
consisted of $245,937 of general and administrative expenses, $250,000 of
officer compensation, $61,367 of consulting expenses and $1,362 in
depreciation.  General and administrative expenses decreased
$1,370,442 from the $1,616,379 of general and administrative expenses incurred
during the fiscal year ended December 31, 2007, and consulting expenses
decreased $1,857,561 from the $1,918,928 of consulting expenses incurred in the
fiscal year ended December 31, 2007.  The decrease in general and
administrative expenses is largely due to a charge of $3,153,000 for the
issuance of 2,690,000 shares of the Company’s common stock for services rendered
during the fiscal year ended December 31, 2007, with no similar expense incurred
during the fiscal year ended December 31, 2008.  Lincoln Dastrup was
paid a salary of $250,000 during the fiscal year ended December 31, 2008
compared to no salary paid to him during the fiscal year ended December 31,
2007.
 
 Net
Losses
 
 We
reported a net loss of $558,666, or $0.03 per share, for the year ended December
31, 2008, a decrease of $2,974,123 from the net loss of $3,532,789, or $0.22 per
share, reported for the year ended December 31, 2007.  The decreases
in net loss for the year ended December 31, 2008 was largely a result of the
substantial decreases in general and administrative expenses and consulting
expenses, as explained above, partially offset by a $250,000 increase in officer
compensation paid in 2008.
  17
 
 Liquidity
and Capital Resources
 
 At
December 31, 2008, we had cash on hand of $8,305, fixed assets of $4,087 and a
real estate investment of $230,862. We believe that current cash on hand is not
sufficient to satisfy our cash requirements for the next thirty
days.  We estimate that we will need approximately $500,000for our business plan in
the next 12 months.  Due to the fact that our limited operations have
not generated cash flow sufficient to cover ongoing business expenses and/or we
purchase additional equipment, we may have to rely on our directors, or on
outside sources, to provide additional funds.  However, we have no
agreements with anyone to provide future funds to our Company. If our directors
are unable to provide future funding, if the need arises, we may have to look at
alternative sources of funding.  Presently we are attempting to raise
funds through a private placement of our shares of common stock.  We
do not have any firm commitments from third parties to provide funding, and
there is no assurance that such funds will be available or, that even if they
are available, that they will be available on terms that will be acceptable to
us. In the event we are unable to secure necessary future funding, we may have
to curtail our business or cease operations completely.
 
 At
December 31, 2008, we had total assets of $243,254 and stockholders' equity of
$163,353.
 
 The
Company’s current assets are not sufficient to conduct its plan of operation
over the next twelve (12) months.  The Company anticipates that it may
need to raise approximately $500,000from
equity or debt financing arrangements to meet the Company’s expenses in the next
twelve (12) months.  We have no current commitments or arrangements
with respect to, or immediate sources of funding. Further, no assurances can be
given that funding will be available to us on acceptable terms. Although, our
major shareholder or a company controlled by him would be the most likely source
of new funding in the form of loans or equity placements in the near future, no
commitments have been made for future investment and the Company has no
agreement formal or otherwise. The Company’s inability to obtain funding, if
required, would have a material adverse affect on its plan of
operation.
 
 All of
the Company’s liabilities are current liabilities due within the next
year.
 
 The
Company expects to hire 10-15 employees in the next 12 months.
 
 Capital
Expenditures
 
 The
Company expended no amounts on capital expenditures during the year ended
December 31, 2008 or during the year ended December 31, 2007.  The
Company has no current plans for capital expenditures.
 
 Critical
Accounting Policies
 
 In the
notes to the audited consolidated financial statements for the year ended
December 31, 2008, included in this Form 10-K, the Company discusses those
accounting policies that are considered to be significant in determining the
results of operations and its financial position. The Company believes that the
accounting principles utilized by it conform to accounting principles generally
accepted in the United States of America.
 
 The
preparation of financial statements requires Company management to make
significant estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses. By their nature, these judgments are subject
to an inherent degree of uncertainty. On an on-going basis, the Company
evaluates estimates. The Company bases its estimates on historical experience
and other facts and circumstances that are believed to be reasonable, and the
results form the basis for making judgments about the carrying value of assets
and liabilities.  The actual results may differ from these estimates
under different assumptions or conditions.
  18
 
 Going
Concern
 
 The
Company’s auditors expressed substantial doubt as to the Company’s ability to
continue as a going concern as a result of recurring losses, lack of
revenue-generating activities and a deficit accumulated during the development
stage in the amount of $4,672,088as of December 31, 2008.
The Company’s ability to continue as a going concern is subject to the ability
of the Company to realize a profit from operations and /or obtain funding from
outside sources.  Since the Company has no revenue generating
operations, our plan to address the Company’s ability to continue as a going
concern over the next twelve months includes obtaining additional funding from
the sale of our securities.  Although we believe that we will be able
to obtain the necessary funding to allow the Company to remain a going concern
through the methods discussed above, there can be no assurances that such
methods will prove successful.
  Net
Operating Loss
 
 We have
accumulated approximately $1,030,046 of net operating loss carryforwards as of
December 31, 2008, which may be offset against taxable income and income taxes
in future years. The use of these losses to reduce future income taxes will
depend on the generation of sufficient taxable income prior to the expiration of
the net operating loss carryforwards.  The carry-forwards expire in
the year 2028. In the event of certain changes in control, there will be an
annual limitation on the amount of net operating loss carryforwards which can be
used. No tax benefit has been reported in the financial statements for the year
ended December 31, 2008 because there is a 50% or greater chance that the
carryforward will not be used. Accordingly, the potential tax benefit of the
loss carryforward is offset by a valuation allowance of the same
amount.
 
 Forward
Looking and Cautionary Statements
 
 This
report, including the sections entitled "Business," "Risk Factors" and
"Management's Discussion and Analysis or Plan of Operations" contains
forward-looking statements. These statements relate to future events or our
future financial performance and involve known and unknown risks and
uncertainties. These factors may cause our company's or our industry's actual
results, levels of activity, performance or achievements to be materially
different from those expressed or implied by the forward- looking statements.
These risks and other factors include those listed under "Risk Factors" and
elsewhere in this report. In some cases, you can identify forward-looking
statements by terminology such as "may," "will" "should," "expects," "intends,"
"plans,"
anticipates,"  "believes,"  "estimates,"  "predicts,"
"potential," "continue," or the negative of these terms or other comparable
terminology.
 
 You
should be aware that a variety of factors could cause 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:
 
 *
              the
      sufficiency of existing capital resources and our ability to raise
      additional capital to fund cash requirements for future
      operations;
 
 *
              uncertainties
      following any successful acquisition or merger related to the future rate
      of growth of our business and acceptance of our products and/or
      services;
 
 *
              volatility
      of the stock market, particularly within the technology sector;
      and
 
 *
              general
      economic conditions.
 
 Although
we believe the expectations reflected in these forward-looking statements are
reasonable, such expectations cannot guarantee future results, levels of
activity, performance or achievements.
  19
 
 You are
cautioned that any forward-looking statements are not guarantees of future
performance and are subject to risks and uncertainties.  Actual
results may differ materially from those included within the forward-looking
statements as a result of various factors.  Cautionary statements in
the risk factors section and elsewhere in this report identify important risks
and uncertainties affecting our future, which could cause actual results to
differ materially from the forward-looking statements made in this
report.
 
 Recent
Accounting Pronouncements
 
 In
June 2008, the FASB issued FASB Staff Position EITF 03-6-1, Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating Securities,
(“FSP EITF 03-6-1”). FSP EITF 03-6-1 addresses whether instruments granted in
share-based payment transactions are participating securities prior to vesting,
and therefore need to be included in the computation of earnings per share under
the two-class method as described in FASB Statement of Financial Accounting
Standards No. 128, “Earnings per Share.” FSP EITF 03-6-1 is effective for
financial statements issued for fiscal years beginning on or after
December 15, 2008 and earlier adoption is prohibited. We are not required
to adopt FSP EITF 03-6-1; neither do we believe that FSP EITF 03-6-1 would have
material effect on our consolidated financial positionand results of
operations if adopted.
 
 In May
2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 163,
“Accounting for Financial
Guarantee Insurance Contracts-and interpretation of FASB Statement No.
60”.SFAS
No. 163 clarifies how Statement 60 applies to financial guarantee insurance
contracts, including the recognition and measurement of premium revenue and
claims liabilities. This statement also requires expanded disclosures about
financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal
years beginning on or after December 15, 2008, and interim periods within those
years. SFAS No. 163 has no effect on the Company’s financial position,
statements of operations, or cash flows at this time.
 
 In May
2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 162,
“The Hierarchy of Generally
Accepted Accounting Principles”.SFAS No. 162 sets forth
the level of authority to a given accounting pronouncement or document by
category. Where there might be conflicting guidance between two categories, the
more authoritative category will prevail. SFAS No. 162 will become effective 60
days after the SEC approves the PCAOB’s amendments to AU Section 411 of the
AICPA Professional Standards. SFAS No. 162 has no effect on the Company’s
financial position, statements of operations, or cash flows at this
time.
 
 In March
2008, the Financial Accounting Standards Board, or FASB, issued SFAS No. 161,
Disclosures about Derivative
Instruments and Hedging Activities—an amendment of FASB Statement No.
133.This standard requires companies to provide enhanced
disclosures about (a) how and why an entity uses derivative instruments, (b) how
derivative instruments and related hedged items are accounted for under
Statement 133 and its related interpretations, and (c) how derivative
instruments and related hedged items affect an entity’s financial position,
financial performance, and cash flows. This Statement is effective for financial
statements issued for fiscal years and interim periods beginning after November
15, 2008, with early application encouraged. The Company has not yet adopted the
provisions of SFAS No. 161, but does not expect it to have a material impact on
its financial position, results of operations or cash flows.
 
 In
December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding
the use of a "simplified" method, as discussed in SAB No. 107 (SAB 107), in
developing an estimate of expected term of "plain vanilla" share options in
accordance with SFAS No. 123 (R), Share-Based
Payment.  In particular, the staff indicated in SAB 107 that it
will accept a company's election to use the simplified method, regardless of
whether the company has sufficient information to make more refined estimates of
expected term. At the time SAB 107 was issued, the staff believed that more
detailed external information about employee exercise behavior (e.g., employee
exercise patterns by industry and/or other categories of companies) would, over
time, become readily available to companies. Therefore, the staff stated in SAB
107 that it would not expect a company to use the simplified method for share
option grants after December 31, 2007. The staff understands that such detailed
information about employee exercise behavior may not be widely available by
December 31, 2007. Accordingly, the staff will continue to accept, under certain
circumstances, the use of the simplified method beyond December 31, 2007. The
Company currently uses the simplified method for “plain vanilla” share options
and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is
not believed that this will have an impact on the Company’s financial position,
results of operations or cash flows.
  20
 
 In
December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in
Consolidated Financial Statements—an amendment of ARB No.
51.  This statement amends ARB 51 to establish accounting and
reporting standards for the noncontrolling interest in a subsidiary and for the
deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in
a subsidiary is an ownership interest in the consolidated entity that should be
reported as equity in the consolidated financial statements. Before this
statement was issued, limited guidance existed for reporting noncontrolling
interests. As a result, considerable diversity in practice existed. So-called
minority interests were reported in the consolidated statement of financial
position as liabilities or in the mezzanine section between liabilities and
equity. This statement improves comparability by eliminating that diversity.
This statement is effective for fiscal years, and interim periods within those
fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009,
for entities with calendar year-ends). Earlier adoption is prohibited. The
effective date of this statement is the same as that of the related Statement
141 (revised 2007). The Company will adopt this Statement beginning March 1,
2009. It is not believed that this will have an impact on the Company’s
financial position, results of operations or cash flows.
 
 In
December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations.’ This
Statement replaces FASB Statement No. 141, Business Combinations, but
retains the fundamental requirements in Statement 141.  This
Statement establishes principles and requirements for how the acquirer: (a)
recognizes and measures in its financial statements the identifiable assets
acquired, the liabilities assumed, and any noncontrolling interest in the
acquiree; (b) recognizes and measures the goodwill acquired in the business
combination or a gain from a bargain purchase; and (c) determines what
information to disclose to enable users of the financial statements to evaluate
the nature and financial effects of the business combination. This statement
applies prospectively to business combinations for which the acquisition date is
on or after the beginning of the first annual reporting period beginning on or
after December 15, 2008. An entity may not apply it before that date. The
effective date of this statement is the same as that of the related FASB
Statement No. 160, Noncontrolling Interests in
Consolidated Financial Statements.  The Company will adopt this
statement beginning March 1, 2009. It is not believed that this will have an
impact on the Company’s financial position, results of operations or cash
flows.
 
 In
February 2007, the FASB issued SFAS No. 159,The Fair Value Option for Financial
Assets and Liabilities—Including an Amendment of FASB Statement No.
115.  This standard permits an entity to choose to measure many
financial instruments and certain other items at fair value. This option is
available to all entities. Most of the provisions in FAS 159 are elective;
however, an amendment to FAS 115 Accounting for Certain Investments
in Debt and Equity Securities applies to all entities with available for
sale or trading securities. Some requirements apply differently to entities that
do not report net income. SFAS No. 159 is effective as of the beginning of an
entity’s first fiscal year that begins after November 15, 2007. Early adoption
is permitted as of the beginning of the previous fiscal year provided that the
entity makes that choice in the first 120 days of that fiscal year and also
elects to apply the provisions of SFAS No. 157 Fair Value
Measurements.  The Company adopted SFAS No. 159 beginning March
1, 2008. The adoption of this pronouncement did not have an impact on the
Company’s financial position, results of operations or cash flows.
  21
 
 In
September 2006, the FASB issued SFAS No. 157, Fair Value
Measurements This statement defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles
(GAAP), and expands disclosures about fair value measurements. This statement
applies under other accounting pronouncements that require or permit fair value
measurements, the Board having previously concluded in those accounting
pronouncements that fair value is the relevant measurement attribute.
Accordingly, this statement does not require any new fair value measurements.
However, for some entities, the application of this statement will change
current practice. This statement is effective for financial statements issued
for fiscal years beginning after November 15, 2007, and interim periods within
those fiscal years. Earlier application is encouraged, provided that the
reporting entity has not yet issued financial statements for that fiscal year,
including financial statements for an interim period within that fiscal year.
The Company adopted this statement March 1, 2008. The adoption of this
pronouncement did not have an impact on the Company’s financial position,
results of operations or cash flows.
  
 Item  7A.     Quantitative
and Qualitative Disclosures about Market Risk
 
 
 A smaller
reporting company is not required to provide the information specified by this
item.
 
 
 Item  8.      Financial
Statements and Supplementary Data
 
 
 Financial
statements for the fiscal years ended December 31, 2008 and 2007 have been
examined to the extent indicated in their reports by Moore & Associates,
Chartered, independent certified public accountants and have been prepared in
accordance with generally accepted accounting principles.  The
aforementioned financial statements are included below.
 
  CURATECH
INDUSTRIES, INC.
 
 FINANCIAL
STATEMENTS
 
 December 31, 2008
  22
  MOORE
& ASSOCIATES, CHARTERED
 ACCOUNTANTS AND
ADVISORS
 PCAOB REGISTERED
 
 REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM
 
 
 To the
Board of Directors
 CuraTech
Industries, Inc.
 (A
Development Stage Company)
 
 We have
audited the accompanying balance sheets of CuraTech Industries, Inc. (a
development stage company) as of December 31, 2008 and 2007, and the related
statements of operations, stockholders’ equity and cash flows for the years
ended December 31, 2008 and 2007, and since inception on April 25, 2006 through
December 31, 2008.  These financial statements are the responsibility
of the Company’s management.  Our responsibility is to express an
opinion on these financial statements based on our audits.
 
 We
conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States).  Those standards require
that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement.  An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements.  An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement
presentation.  We believe that our audits provide a reasonable basis
for our opinion.
 
 In our
opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of CuraTech Industries, Inc. (a
development stage company)as of December 31, 2008,
and the related statements of operations, stockholders’ equity and cash flows
for the years ended December 31, 2008 and 2007, and since inception on April 25,
2006 through December 31, 2008 in conformity with accounting principles
generally accepted in the United States of America.
 
 The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern.  As discussed in Note 2 to the
financial statements, the Company has not established revenues sufficient to
cover its operating costs, which raises substantial doubt about its ability to
continue as a going concern.  Management’s plans concerning these
matters are also described in Note 2.  The financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.
 
 /s/
Moore & Associates Chartered
 
 Moore
& Associates Chartered
 Las
Vegas, Nevada
 April 15,
2009
 
 
 
 6490 West Desert Inn, Las
Vegas, NV 89146 (702) 253-7511 Fax (702) 253-7501
  23
  CURATECH
      INDUSTRIES, INC.(A
      Development Stage Company)Balance
      Sheets
  ASSETSDecember
      31,
                
                December
      31,2008
                
                2007CURRENT
      ASSETSCash
                
                $
                8,305
                
                
                $
                58,160Note
      receivable - related party
                
                
                -
                
                
                
                74,005Interest
      receivable - related party
                
                
                -
                
                
                
                3,880Total
      Current Assets
                
                
                8,305
                
                
                
                136,045FIXED
      ASSETS, net
                
                
                4,087
                
                
                
                5,449OTHER
      ASSETSReal
      estate investment
                
                
                230,862
                
                
                
                -Total
      Other Assets
                
                
                230,862
                
                
                
                -TOTAL
      ASSETS
                
                $
                243,254
                
                
                $
                141,494LIABILITIES AND
      STOCKHOLDERS' EQUITYCURRENT
      LIABILITIESAccounts
      payable
                
                $
                13,467
                
                
                $
                375Accrued  officer
      salaries
                
                
                66,434
                
                
                
                -Total
      Current Liabilities
                
                
                79,901
                
                
                
                375TOTAL
      LIABILITIES
                
                
                79,901
                
                
                
                375STOCKHOLDERS'
      EQUITYCommon
      stock: 25,000,000 shares authorized;$0.001
      par value; 16,780,199 and 18,580,199 sharesissued
      and outstanding, respectively
                
                
                16,780
                
                
                
                18,580Additional
      paid-in capital
                
                
                4,337,013
                
                
                
                4,335,213Stock
      subscriptions payable
                
                
                580,900
                
                
                
                -Stock
      subscriptions receivable
                
                
                (99,252
                )
                
                
                (99,252
                )Deficit
      accumulated during the development stage
                
                
                (4,672,088
                )
                
                
                (4,113,422
                )Total
      Stockholders' Equity
                
                
                163,353
                
                
                
                141,119TOTAL
      LIABILITIES AND STOCKHOLDERS'EQUITY
                
                $
                243,254
                
                
                $
                141,494
 The
accompanying notes are an integral part of these financial
statements.
 24
  CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Statements
of Operations
  From
      Inceptionof
      theDevelopmentStage
      onFor
      the
                
                
                For
      the
                
                
                April
      25 2006,Year
      Ended
                
                
                Year
      Ended
                
                
                throughDecember
      31,
                
                
                December
      31,
                
                
                December
      31,2008
                
                
                2007
                
                
                2008REVENUES
                
                $
                -
                
                
                $
                -
                
                
                $
                -OPERATING
      EXPENSESGeneral
      and administrative
                
                
                245,937
                
                
                
                1,616,379
                
                
                
                1,970,459Consulting
                
                
                61,367
                
                
                
                1,918,928
                
                
                
                1,980,285Officer
      compensation
                
                
                250,000
                
                
                
                -
                
                
                
                250,000Depreciation
                
                
                1,362
                
                
                
                1,362
                
                
                
                2,724Total
      Operating Expenses
                
                
                558,666
                
                
                
                3,536,669
                
                
                
                4,203,468LOSS
      FROM OPERATIONS
                
                
                (558,666
                )
                
                
                (3,536,669
                )
                
                
                (4,203,468
                )OTHER
      INCOME (EXPENSES)Impairment
      of assets
                
                
                -
                
                
                
                -
                
                
                
                (472,500
                )Interest
      income
                
                
                -
                
                
                
                3,880
                
                
                
                3,880Total
      Other Income (Expenses)
                
                
                -
                
                
                
                3,880
                
                
                
                (468,620
                )LOSS
      BEFORE INCOME TAXES
                
                
                (558,666
                )
                
                
                (3,532,789
                )
                
                
                (4,672,088
                )PROVISION
      FOR INCOME TAXES
                
                
                -
                
                
                
                -
                
                
                
                -NET
      LOSS
                
                $
                (558,666
                )
                
                $
                (3,532,789
                )
                
                $
                (4,672,088
                )BASIC
      LOSS PER COMMON SHARE
                
                $
                (0.03
                )
                
                $
                (0.22
                )WEIGHTED
      AVERAGE NUMBEROF
      COMMON SHARES OUTSTANDING
                
                
                17,680,199
                
                
                
                16,344,890
    25
  CURATECH INDUSTRIES,
      INC.(A Development Stage
      Company)Statements of Stockholders'
      EquityDeficitAccumulatedAdditional
                
                
                Stock
                
                
                Stock
                
                
                During
      theCommon
      Stock
                
                
                Paid-In
                
                
                Subscription
                
                
                Subscription
                
                
                DevelopmentShares
                
                
                Amount
                
                
                Capital
                
                
                Receivable
                
                
                Payable
                
                
                Stage
                
                
                TotalBalance,
      at inception
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -on
      April 25, 2006Common
      shares issued for cash
                
                
                11,495,633
                
                
                
                11,496
                
                
                
                (796
                )
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                10,700Common
      shares issuedpursuant
      to Asset PurchaseAgreement
                
                
                578,000
                
                
                
                578
                
                
                
                457,280
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                457,858Common
      shares issued forcash
                
                
                268,606
                
                
                
                269
                
                
                
                212,688
                
                
                
                (55,000
                )
                
                
                -
                
                
                
                -
                
                
                
                157,957Recapitalization
      pursuant toreverse
      merger
                
                
                3,230,408
                
                
                
                3,230
                
                
                
                (2,061
                )
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                1,169Increase
      in stock subscriptionsreceivable
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -Net
      loss for the period frominception
      on April 25, 2006through
      December 31, 2006
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (580,633
                )
                
                
                (580,633
                )Balance,
      December 31, 2006
                
                
                15,572,647
                
                
                
                15,573
                
                
                
                667,111
                
                
                
                (55,000
                )
                
                
                -
                
                
                
                (580,633
                )
                
                
                47,051Common
      shares issued for cashat
      $1.50 per share
                
                
                317,552
                
                
                
                317
                
                
                
                510,792
                
                
                
                (68,250
                )
                
                
                -
                
                
                
                -
                
                
                
                442,859Common
      shares issued forservices
      at $1.50 per share
                
                
                890,000
                
                
                
                890
                
                
                
                1,334,110
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                1,335,000Common
      shares issued forservices
      at $1.01 per share
                
                
                1,800,000
                
                
                
                1,800
                
                
                
                1,816,200
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                1,818,000Cash
      received on subscriptionsreceivable
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                23,998
                
                
                
                -
                
                
                
                -
                
                
                
                23,998Contributed
      services
                
                
                -
                
                
                
                -
                
                
                
                7,000
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                7,000Net
      loss for the year endedDecember
      31, 2007
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (3,532,789
                )
                
                
                (3,532,789
                )Balance,
      December 31, 2007
                
                
                18,580,199
                
                
                
                18,580
                
                
                
                4,335,213
                
                
                
                (99,252
                )
                
                
                -
                
                
                
                (4,113,422
                )
                
                
                141,119Cash
      received on stocksubscriptions
      payable
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                580,900
                
                
                
                -
                
                
                
                580,900Common
      shares canceled
                
                
                (1,800,000
                )
                
                
                (1,800
                )
                
                
                1,800
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -Net
      loss for the year endedDecember
      31, 2008
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (558,666
                )
                
                
                (558,666
                )Balance,
      December 31, 2008
                
                
                16,780,199
                
                
                $
                16,780
                
                
                $
                4,337,013
                
                
                $
                (99,252
                )
                
                $
                580,900
                
                
                $
                (4,672,088
                )
                
                $
                163,353
    26
  CURATECH
      INDUSTRIES, INC.(A
      Development Stage Company)Statements
      of Cash FlowsFrom
      Inceptionof
      theDevelopmentStage
      onFor
      the
                
                
                For
      the
                
                
                April
      25 2006,Year
      Ended
                
                
                Year
      Ended
                
                
                throughDecember
      31,
                
                
                December
      31,
                
                
                December
      31,2008
                
                
                2007
                
                
                2008CASH
      FLOWS FROM OPERATING ACTIVITIESNet
      loss
                
                $
                (558,666
                )
                
                $
                (3,532,789
                )
                
                $
                (4,672,088
                )Adjustments
      to reconcile net loss tonet
      cash used by operating activities:Impairment
      of investments
                
                
                -
                
                
                
                -
                
                
                
                472,500Common
      stock issued for services
                
                
                -
                
                
                
                3,153,000
                
                
                
                3,153,000Services
      contributed by shareholders
                
                
                -
                
                
                
                7,000
                
                
                
                7,000Depreciation
                
                
                1,362
                
                
                
                1,362
                
                
                
                2,724Changes
      in operating assets and liabilities:Receivable
      related party
                
                
                77,885
                
                
                
                (60,470
                )
                
                
                (50,000
                )Accrued
      expenses
                
                
                66,434
                
                
                
                (5,288
                )
                
                
                61,146Accounts
      payable
                
                
                13,092
                
                
                
                (955
                )
                
                
                13,467Net
      Cash Used byOperating
      Activities
                
                
                (399,893
                )
                
                
                (438,140
                )
                
                
                (1,012,251
                )CASH
      FLOWS FROM INVESTING ACTIVITIESPurchase
      of investment
                
                
                -
                
                
                
                -
                
                
                
                (150,000
                )Purchase
      of real estate
                
                
                (230,862
                )
                
                
                -
                
                
                
                (230,862
                )Net
      Cash Used byInvesting
      Activities
                
                
                (230,862
                )
                
                
                -
                
                
                
                (380,862
                )CASH
      FLOWS FROM FINANCING ACTIVITIESCash
      received in acquisition
                
                
                -
                
                
                
                -
                
                
                
                137,673Cash
      received for note payable
                
                
                -
                
                
                
                -
                
                
                
                5,288Cash
      received on stock subscriptions payable
                
                
                580,900
                
                
                
                -
                
                
                
                580,900Cash
      received on subscriptions receivable
                
                
                -
                
                
                
                23,998
                
                
                
                73,998Common
      stock issued for cash
                
                
                -
                
                
                
                442,859
                
                
                
                603,559Net
      Cash Provided byFinancing
      Activities
                
                
                580,900
                
                
                
                466,857
                
                
                
                1,401,418NET
      INCREASE (DECREASE) IN CASH
                
                
                (49,855
                )
                
                
                28,717
                
                
                
                8,305CASH
      AT BEGINNING OF PERIOD
                
                
                58,160
                
                
                
                29,443
                
                
                
                -CASH
      AT END OF PERIOD
                
                $
                8,305
                
                
                $
                58,160
                
                
                $
                8,305
    27
  CURATECH INDUSTRIES,
      INC.(A Development Stage
      Company)Statements of Cash
      FlowsFrom
    Inceptionof theDevelopmentStage onFor the
                
                For the
                
                April 25
    2006,Year Ended
                
                Year Ended
                
                throughDecember
31,
                
                December
31,
                
                December
31,2008
                
                2007
                
                2008SUPPLEMENTAL DISCLOSURES
      OFCASH FLOW
      INFORMATIONCASH PAID
    FOR:Interest
                
                $
                -
                
                
                $
                -
                
                
                $
                -Taxes
                
                $
                -
                
                
                $
                -
                
                
                $
                -NON-CASH FINANCING
      ACTIVITIESCommon stock
      issuedfor fixed
      assets
                
                $
                -
                
                
                $
                322,500
                
                
                $
                322,500Common stock issued
      forservices
                
                $
                -
                
                
                $
                3,153,000
                
                
                $
                3,153,000
    28
    CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE 1
-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
 a.
Organization
 
 Curatech
      Industries, Inc.  (The Company) was incorporated as a Utah
      Corporation in March 2000 under the name Jump’n Jax, Inc.  The
      Company was in the business of recreation equipment rentals until December
      31, 2005, at which time the Company ceased equipment rental
      activities.  In October 2006, the Company consummated an
      agreement to acquire Medacure International, Inc., a Nevada
      corporation.  Pursuant to this Agreement, the Company changed
      its state of domicile from Utah to Nevada, and changed its corporate name
      to Curatech Industries, Inc.  The Company is currently in the
      business of developing and marketing proprietary health
      supplements.
 
 b.
Accounting Method
 
 The
financial statements are prepared using the accrual method of accounting. The
Company has elected a calendar year-end.
 
 c.
Estimates
 
 The  preparation  of  financial  statements  in  conformity  with
accounting  principles generally accepted in the United States of
America  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.
 
 d.
Revenue Recognition
 
 The
Company earned zero revenues during the period ended December 31,
2008.  Appropriate revenue recognition principles will be established
once revenue-generating operations commence.
 
 e. Provision for Taxes
 
 Deferred
taxes are provided on a liability method whereby deferred tax assets are
recognized for deductible temporary differences and operating loss and tax
credit carry forwards and deferred tax liabilities are recognized for taxable
temporary differences. Temporary differences are the differences between the
reported amounts of assets and liabilities and their tax bases. Deferred tax
assets are reduced by a valuation allowance when, in the opinion of management,
it is more likely than not that some portion or all of the deferred tax assets
will not be realized. Deferred tax assets and liabilities are adjusted for the
effects of changes in tax laws and rates on the date of enactment.
 
 At
December 31, 2008, the Company had net operating loss carry forwards of
approximately $1,030,046 that may be offset against future taxable income
through 2028. No tax benefit has been reported in the December 31, 2008
financial statements since the potential tax benefit is offset by a valuation
allowance of the same amount. Due to the change in ownership provisions of the
Tax Reform Act of 1986, net operating loss carry forwards for Federal income tax
reporting purposes are subject to annual limitations.  Should change
in ownership occur, net operating loss carry forwards may be limited as to use
in future years.
  29
 
 CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE 1
-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 
 f. Cash
and Cash Equivalents
  For the
purpose of the statement of cash flows, the Company considers all highly liquid
investments purchased with a maturity of three months or less to be cash
equivalents.
 
 g. Provision for Taxes
 
 Net
deferred tax assets consist of the following components as of December 31, 2008
and 2007:
  2008
                
                
                2007Deferred tax
      assets:NOL
    Carryover
                
                $
                405,440
                
                
                $
                187,560Deferred tax
      liabilities:
                
                
                -
                
                
                
                -Valuation
      allowance
                
                
                (405,440
                )
                
                
                (187,560
                )Net deferred tax
      asset
                
                $
                -
                
                
                $
                -
 The
income tax provision differs from the amount of income tax determined by
applying the U.S. federal and state income tax rates of 39% to pretax income
from continuing operations for the period ended December 31, 2008 and 2007 due
to the following:
  2008
                
                
                2007Book
      loss
                
                $
                (
      217,880
                )
                
                $
                (1,377,788
                )Common stock issued
      forservices
                
                
                -
                
                
                
                1,232,400Valuation
      allowance
                
                
                217,880
                
                
                
                145,388Provision for
      income taxes
                
                $
                -
                
                
                $
                -
 h. Fixed Assets
 
 Property
and equipment are recorded at cost, less accumulated depreciation. Depreciation
on equipment is determined using the straight-line method over the estimated
useful lives (usually between three and five years) of the
assets.  The following is a summary of the Company’s major categories
of fixed assets:
  2008
                
                
                2007Office
      equipment
                
                $
                6,811
                
                
                $
                6,811Accumulated
      depreciation
                
                
                (2,724
                )
                
                
                (1,362
                )Net fixed
      assets
                
                $
                4,087
                
                
                $
                5,449
  Depreciation
expense for was $1,362 and $1,362 for the years ended December 31, 2008 and
2007, respectively.
  30
  CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE 1
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
  i. Basic
Loss Per Share
 
 The
computation of basic loss per share of common stock is based on the weighted
average number of shares outstanding during the period. The Company has no
common stock equivalents outstanding as of December 31, 2008 and
2007.
  For the Years
      EndedDecember 31,2008
                
                
                2007Loss
      (numerator)
                
                $
                (558,666
                )
                
                $
                (3,532,789
                )Shares
      (denominator)
                
                
                18,602,663
                
                
                
                16,344,890Per share
      amount
                
                $
                (0.03
                )
                
                
                (0.22
                )
  j.   Advertising
Costs
 
 The
Company’s policy regarding advertising is to expense advertising when incurred.
The Company had not incurred any advertising expense as of December 31, 2008 and
2007.
 
 k.
Stock-based Compensation
 
 The
Company adopted SFAS No. 123-R effective January 1, 2006 using the
modified prospective method. Under this transition method, stock compensation
expense includes compensation
expense for all stock-based compensation awards granted on or after
January 1,2006, based on the grant-date fair value estimated in accordance
with the provisions of SFAS No. 123-R.
 
 NOTE
2 - GOING
CONCERN
 
 The
Company's financial statements are prepared using generally accepted
accountingprinciples 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 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
shareholders 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.
  31
 
 CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE
3 - RECENT ACCOUNTING PRONOUNCEMENTS
 
 In
June 2008, the FASB issued FASB Staff Position EITF 03-6-1, Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating Securities,
(“FSP EITF 03-6-1”). FSP EITF 03-6-1 addresses whether instruments granted in
share-based payment transactions are participating securities prior to vesting,
and therefore need to be included in the computation of earnings per share under
the two-class method as described in FASB Statement of Financial Accounting
Standards No. 128, “Earnings per Share.” FSP EITF 03-6-1 is effective for
financial statements issued for fiscal years beginning on or after
December 15, 2008 and earlier adoption is prohibited. We are not required
to adopt FSP EITF 03-6-1; neither do we believe that FSP EITF 03-6-1 would have
material effect on our consolidated financial positionand results of
operations if adopted.
 
 In May
2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 163,
“Accounting for Financial
Guarantee Insurance Contracts-and interpretation of FASB Statement No.
60”.SFAS
No. 163 clarifies how Statement 60 applies to financial guarantee insurance
contracts, including the recognition and measurement of premium revenue and
claims liabilities. This statement also requires expanded disclosures about
financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal
years beginning on or after December 15, 2008, and interim periods within those
years. SFAS No. 163 has no effect on the Company’s financial position,
statements of operations, or cash flows at this time.
 
 In May
2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 162,
“The Hierarchy of Generally
Accepted Accounting Principles”.SFAS No. 162 sets forth
the level of authority to a given accounting pronouncement or document by
category. Where there might be conflicting guidance between two categories, the
more authoritative category will prevail. SFAS No. 162 will become effective 60
days after the SEC approves the PCAOB’s amendments to AU Section 411 of the
AICPA Professional Standards. SFAS No. 162 has no effect on the Company’s
financial position, statements of operations, or cash flows at this
time.
 
 In March
2008, the Financial Accounting Standards Board, or FASB, issued SFAS No. 161,
Disclosures about Derivative
Instruments and Hedging Activities—an amendment of FASB Statement No.
133.This standard requires companies to provide enhanced
disclosures about (a) how and why an entity uses derivative instruments, (b) how
derivative instruments and related hedged items are accounted for under
Statement 133 and its related interpretations, and (c) how derivative
instruments and related hedged items affect an entity’s financial position,
financial performance, and cash flows. This Statement is effective for financial
statements issued for fiscal years and interim periods beginning after November
15, 2008, with early application encouraged. The Company has not yet adopted the
provisions of SFAS No. 161, but does not expect it to have a material impact on
its financial position, results of operations or cash flows.
 
 In
December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding
the use of a "simplified" method, as discussed in SAB No. 107 (SAB 107), in
developing an estimate of expected term of "plain vanilla" share options in
accordance with SFAS No. 123 (R), Share-Based
Payment.  In particular, the staff indicated in SAB 107 that it
will accept a company's election to use the simplified method, regardless of
whether the company has sufficient information to make more refined estimates of
expected term. At the time SAB 107 was issued, the staff believed that more
detailed external information about employee exercise behavior (e.g., employee
exercise patterns by industry and/or other categories of companies) would, over
time, become readily available to companies. Therefore, the staff stated in SAB
107 that it would not expect a company to use the simplified method for share
option grants after December 31, 2007. The staff understands that such detailed
information about employee exercise behavior may not be widely available by
December 31, 2007. Accordingly, the staff will continue to accept, under certain
circumstances, the use of the simplified method beyond December 31, 2007. The
Company currently uses the simplified method for “plain vanilla” share options
and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is
not believed that this will have an impact on the Company’s financial position,
results of operations or cash flows.
  32
  CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE
3 - RECENT ACCOUNTING PRONOUNCEMENTS (Continued)
  In
December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in
Consolidated Financial Statements—an amendment of ARB No.
51.  This statement amends ARB 51 to establish accounting and
reporting standards for the noncontrolling interest in a subsidiary and for the
deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in
a subsidiary is an ownership interest in the consolidated entity that should be
reported as equity in the consolidated financial statements. Before this
statement was issued, limited guidance existed for reporting noncontrolling
interests. As a result, considerable diversity in practice existed. So-called
minority interests were reported in the consolidated statement of financial
position as liabilities or in the mezzanine section between liabilities and
equity. This statement improves comparability by eliminating that diversity.
This statement is effective for fiscal years, and interim periods within those
fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009,
for entities with calendar year-ends). Earlier adoption is prohibited. The
effective date of this statement is the same as that of the related Statement
141 (revised 2007). The Company will adopt this Statement beginning March 1,
2009. It is not believed that this will have an impact on the Company’s
financial position, results of operations or cash flows.
 
 In
December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations.’ This
Statement replaces FASB Statement No. 141, Business Combinations, but
retains the fundamental requirements in Statement 141.  This
Statement establishes principles and requirements for how the acquirer: (a)
recognizes and measures in its financial statements the identifiable assets
acquired, the liabilities assumed, and any noncontrolling interest in the
acquiree; (b) recognizes and measures the goodwill acquired in the business
combination or a gain from a bargain purchase; and (c) determines what
information to disclose to enable users of the financial statements to evaluate
the nature and financial effects of the business combination. This statement
applies prospectively to business combinations for which the acquisition date is
on or after the beginning of the first annual reporting period beginning on or
after December 15, 2008. An entity may not apply it before that date. The
effective date of this statement is the same as that of the related FASB
Statement No. 160, Noncontrolling Interests in
Consolidated Financial Statements.  The Company will adopt this
statement beginning March 1, 2009. It is not believed that this will have an
impact on the Company’s financial position, results of operations or cash
flows.
 
 In
February 2007, the FASB issued SFAS No. 159,The Fair Value Option for Financial
Assets and Liabilities—Including an Amendment of FASB Statement No.
115.  This standard permits an entity to choose to measure many
financial instruments and certain other items at fair value. This option is
available to all entities. Most of the provisions in FAS 159 are elective;
however, an amendment to FAS 115 Accounting for Certain Investments
in Debt and Equity Securities applies to all entities with available for
sale or trading securities. Some requirements apply differently to entities that
do not report net income. SFAS No. 159 is effective as of the beginning of an
entity’s first fiscal year that begins after November 15, 2007. Early adoption
is permitted as of the beginning of the previous fiscal year provided that the
entity makes that choice in the first 120 days of that fiscal year and also
elects to apply the provisions of SFAS No. 157 Fair Value
Measurements.  The Company adopted SFAS No. 159 beginning March
1, 2008. The adoption of this pronouncement did not have an impact on the
Company’s financial position, results of operations or cash flows.
  33
  CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE
3 - RECENT ACCOUNTING PRONOUNCEMENTS (Continued)
  In
September 2006, the FASB issued SFAS No. 157, Fair Value
Measurements This statement defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles
(GAAP), and expands disclosures about fair value measurements. This statement
applies under other accounting pronouncements that require or permit fair value
measurements, the Board having previously concluded in those accounting
pronouncements that fair value is the relevant measurement attribute.
Accordingly, this statement does not require any new fair value measurements.
However, for some entities, the application of this statement will change
current practice. This statement is effective for financial statements issued
for fiscal years beginning after November 15, 2007, and interim periods within
those fiscal years. Earlier application is encouraged, provided that the
reporting entity has not yet issued financial statements for that fiscal year,
including financial statements for an interim period within that fiscal year.
The Company adopted this statement March 1, 2008. The adoption of this
pronouncement did not have an impact on the Company’s financial position,
results of operations or cash flows.
 
 NOTE 4 -
COMMON STOCK TRANSACTIONS
 
 On April
28, 2006, the Company issued an aggregate of 11,495,633 shares of common stock
to various individuals, each of whom was an officer and/or director of the
Company on the date of issuance, in exchange for an aggregate of $10,700 in
cash.
 
 On May
12, 2006, the Company issued an aggregate of 578,000 shares of common stock to
two unrelated individuals, as partial payment for Immune Response Therapy
assets.
 
 On May
15, 2006, the Company issued 268,606 shares of common stock to an unrelated
third party in exchange for $150,000 in cash.  Of this amount, $55,000
remained uncollected as of December 31, 2008, and has been recorded as stock
subscriptions receivable.
 
 During
the year ended December 31, 2007 the Company issued 317,552 shares of common
stock for cash and subscriptions receivable at $1.50 per share.  In
addition, the Company issued 1,800,000 shares of common stock for services
rendered at $1.01 per share.
 
 During
the year ended December 31, 2008, the Company received a total of $580,900 in
cash for which the Company is to issue common stock at $1.00 per share, at such
time as the private placement can be finalized and the shares appropriately
authorized.  In addition, the Company cancelled 1,800,000 previously
issued shares of common stock.
 
 NOTE 5 -
REAL ESTATE INVESTMENT
 
 During
the first quarter of 2008 the Company purchased a residential property in North
Carolina for $230,862.  Management’s goal is to sell this property for
a profit in 2009.
  34
 
 CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 
 NOTE 6 -
AGREEMENT AND PLAN OF MERGER
 
 On
October 26, 2006, the Company entered into an Acquisition Agreement with Jump’n
Jax, Inc. (“Jump’n Jax”). The acquisition was consummated pursuant to an
agreement entered into on June 22, 2006, whereby the Company agreed to merge
into Jump’n Jax’s newly created, wholly-owned subsidiary, CuraTech Acquisitions,
Inc., with the Company being the surviving entity as Jump’n Jax’s wholly owned
operating subsidiary.
 
 Prior to
completion of the acquisition on October 4, 2006, the Jump’n Jax completed a
forward stock split, on a four shares for one share basis. In addition, Jump’n
Jax changed its corporate name to CuraTech Industries, Inc. As a result of the
forward stock split, Jump’n Jax’s outstanding shares of common stock increased
from 807,602 shares to 3,230,408 shares. The Company also changed its corporate
domicile from the State of Utah to Nevada.  Additionally, per the
terms of the Merger Agreement the Jump’n Jax issued an aggregate of 12,342,239
shares of its common stock, post-split, to the stockholders of the Company.
Also, the Company added three new directors, each nominated by MedaCure, to its
Board of Directors.  Upon completion of the Acquisition, approximately
58.9% of the Company’s common stock is beneficially owned together by the
Dastrup family.  Accordingly, this group has the capability to
substantially control the vote on all significant matters pertaining to the
Company without the approval of shareholders.
 
 The
Company accounted for this transaction as a reverse-acquisition, with MedaCure
presented as the accounting acquirer.  Therefore, the historical
financial statements presented herein reflect only those of MedaCure, the
accounting acquirer, since its inception on April 25, 2006.  The
reverse-acquisition is presented as a recapitalization of
Medacure.  Accordingly, the historical stockholders’ equity (deficit)
of MedaCure prior to the acquisition transaction has been retroactively restated
pursuant to SFAS 141.
 
 From the
consummation of the Merger Agreement, the Company has begun the development and
bringing to market a certain health supplement that is intended to enhance and
build-up the body’s natural immune system defenses. The Company intends to
commence commercial marketing of its supplement in the near future primarily
outside the U.S. Initial marketing in the U.S. will primarily be to the
veterinarian market for use in treating animals. The Company also intends to
initiate a collaboration and partnering program that will focus on developing
business alliances designed to generate sales, applications and marketing
opportunities.
 
 NOTE 7 -
ASSET PURCHASE AGREEMENT
 
 On May
15, 2006 the Company entered into an Asset Purchase Agreement whereby the
Company acquired certain exclusive proprietary Immune Response Therapy (“IRT”)
products and technologies from Dr. William and Freida Stacey, in exchange for
$150,000 in cash and 537,500 shares of the Company’s common
stock.  The shares in this transaction have been valued at $0.60 per
share, or $322,500, bringing the total value of the consideration paid by the
Company for the IRT assets to $472,500.
 
 To the
date of these financial statements, the Company has yet to realize significant
revenues from the utilization of the IRT assets.  The Company’s
management continues to focus its business strategy on the utilization of the
IRT assets.  However, due to the fact that no significant revenues
have been generated from the IRT assets, the Company fully impaired the IRT
assets during the year ended December 31, 2006.  Accordingly, the
Company recognized an asset impairment expense of $472,500 during the period
ended December 31, 2006, and carries a zero balance on the IRT assets as of
December 31, 2008.
  35
 
 CURATECH
INDUSTRIES, INC.
 (A
Development Stage Company)
 Notes to
the Financial Statements
 December
31, 2008 and 2007
 NOTE 8 -
RELATED PARTY TRANSACTIONS
 
 During
2008, the Company converted cash advances to an officer of $74,005 plus accrued
interest of $3,880 into compensation expense, pursuant to the officer’s
employment agreement.
 
 Prior to
2008, the Company’s officers contributed their services without compensation.
The Company recorded an expense of $7,000 for these services during the year
ended December 31, 2007.
  NOTE 9 –
SUBSEQUENT EVENTS
 On March
31, 2009, the Company issued 50,000 shares of common stock at $0.32 per share to
a third party as compensation for consultation services rendered in the amount
of $16,000.
  36
 
 
 Item  9.      Changes
in and Disagreements with Accountants on Accounting and Financial
Disclosure
 
 None.
  
 Item  9A.     Controls
and Procedures
 
 
 The
Company’s president acts both as the Company’s chief executive officer and chief
financial officer and is responsible for establishing and maintaining disclosure
controls and procedures for the Company.
 
 Evaluation of disclosure
controls and procedures.
 
 Under the
supervision and with the participation of management, Lincoln M. Dastrup, acting
as our chief executive officer and chief financial officer, evaluated the
effectiveness of the design and operation of our disclosure controls and
procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934 (“Exchange Act”), as of December 31, 2008. Based on this
evaluation, our chief executive officer and chief financial officer concluded
that, as of the end of the period covered by this report, our disclosure
controls and procedures were effective to ensure that the information required
to be disclosed by us in the reports we submit under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified
in the applicable rules and forms and that such information was accumulated and
communicated to our chief executive officer and chief financial officer, in a
manner that allowed for timely decisions regarding required
disclosure.
 
 Management’s Annual Report
on Internal Control Over Financial Reporting
 
 Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting, as such term is defined in Rules 13a-15(f) and
15d-15(f) of the Exchange Act.  Our internal control system was
designed 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.  Because of
inherent limitations, a system of internal control over financial reporting may
not prevent or detect misstatements.  Therefore, even those systems
determined to be effective can provide only reasonable, not absolute, assurance
of achieving their control objectives.  Also, projections of any
evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate due to change in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.
 
 Our
management, including our principal executive officer and principal accounting
officer, conducted an evaluation of the effectiveness of our internal control
over financial reporting using the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control
-Integrated Framework.  Based upon this evaluation, our management,
including the Chief Executive Officer and Principal Financial Officer, has
concluded that our internal controls over financial reporting were effective as
of December 31, 2008.
 
 During
the quarter ended December 31, 2008, there has been no change in our internal
controls over financial reporting (as defined in Rules 13a-15 and 15d-15 under
the Exchange Act) that has materially affected, or is reasonably likely to
materially affect, our internal controls over financial reporting.
  37
 
 This
annual report does not include an attestation report of the Company’s registered
public accounting firm regarding internal control over financial
reporting.  Management’s report was not subject to attestation by the
Company’s registered public accounting firm pursuant to temporary rules of the
SEC that permit the Company to provide only the management’s report in this
annual report.
 
 
 Item  9B.     Other
Information
 
 
 Not
applicable.
 PART III
 
 
 Item  10.     Directors,
Executive Officers and Corporate Governance
 
 
 Identification
of directors and executive officers
 
 The
following persons serve as directors and executive officers of the Company as of
December 31, 2008.
  Name
              
              Age
              
              PositionLincoln
      Dastrup
              
              54
              
              CEO,
      CFO and DirectorJarom
      Dastrup
              
              29
              
              Executive
      Vice President, Secretary and DirectorLinda
      L. Dastrup
              
              50
              
              Treasurer
      and Director
 
 
 All
directors hold office until the next annual meeting of stockholders and until
their successors have been duly elected and qualified.  There are no
agreements with respect to the election of directors.  We have not
compensated directors for service on the board of directors or any committee
thereof, but directors are entitled to be reimbursed for expenses incurred for
attendance at meetings of the board and any committee of the
board.  Officers are appointed annually by the board and each
executive officer serves at the discretion of the board.  We do not
have any standing committees.
 
 Currently,
there is no arrangement, agreement or understanding between management and
non-management stockholders under which non-management stockholders may directly
or indirectly participate in or influence the management of our affairs. Present
management openly accepts and appreciates any input or suggestions from
stockholders.  However, the board is elected by the stockholders and
the stockholders have the ultimate say in who represents them on the
board.  There are no agreements or understandings for any officer or
director to resign at the request of another person and none of the current
offers or directors are acting on behalf of, or will act at the direction of any
other person.
 
 The
business experience of each of the persons listed above during the past five
years is as follows:
 
 Lincoln
Dastrup. Mr. Dastrup has served as a director and as CEO and CFO of the
Company since October 2006.  Mr. Dastrup has over 26 years of
experience in investment banking, corporate development, management, marketing
and manufacturing with public companies. Since 1995, he has been semi-retired
and primarily manages his personal investments. In 1989, Mr. Dastrup co-founded
CIMETRIX Incorporated, an international robotics firm. Mr. Dastrup served as the
President and CEO of CIMETRIX until 1995. In 1986 Mr. Dastrup founded Corporate
Funding, a venture capital firm. Prior to that Mr. Dastrup was the founder,
President and CEO of Barron, Marshal, & Kaman, a New York based investment
banking firm, and members of the New York Stock Exchange. In 1979 Mr. Dastrup
was a co-founder of Universal Fashions Originals, a company engaged in the
business of clothing manufacturing and design. In 1980, Universal Fashions
merged with an over-the-counter public company. After the merger, Mr. Dastrup
served as a director, executive vice-president and president of its wholly-owned
subsidiary, Classic Covers, Inc. Since 1980, Mr. Dastrup has participated in
over 14 mergers and acquisitions and has financed seven companies.
  38
 
 Linda L.
Dastrup. Mrs. Dastrup has served as a director and as Treasurer of the
Company since October 2006.  Mrs. Dastrup has over 20 years of
experience in corporate development, management and manufacturing with public
companies. Since 1995, she has been semi-retired and primarily manages her
personal investments. In 1989, Mrs. Dastrup co-founder CIMETRIX Incorporated, an
International robotics firm. Mrs. Dastrup was a key contributor to the original
buy/sale and royalty agreement of CIMETRIX Incorporated. She served as an
executive officer of CIMETRIX for over 5 years. Prior to that Mrs. Dastrup was a
Director and Treasurer of Barron, Marshal, & Kaman, a New York based
Investment Banking firm, and members of the New York Stock Exchange. In 1979
Mrs. Dastrup was a co-founder of Universal Fashions Originals, a Company engaged
in the business of clothing manufacturing and design. In 1980 Universal Fashions
merged with an over-the-counter public Company. Mrs. Dastrup’s responsibilities
included that of all manufacturing and design. Mrs. Dastrup is the wife of
Lincoln Dastrup.
 
 Jarom L.
Dastrup. Mr.
Dastrup has servied as a director and as Executive Vice President and Secretary
of the Company since October 2006.  Mr. Dastrup has over 5 years of
experience in corporate development, and administration. Since 2005, Mr. Dastrup
has been a private money advisor and manager. In 2006 Mr. Dastrup was co-founder
and Manager of Vastmann Investment Partners, LLC, a private equity fund.
Currently Mr. Dastrup is responsible for all client relations, client accounts,
client investments, and all company finances. Prior to that Mr. Dastrup managed
a portfolio of stocks, options, and futures. In 2002 Mr. Dastrup was a partner
in and managed The Iceberg Drive-In, a Utah based fast food restaurant. Mr.
Dastrup graduated from Utah Valley State College where he received his Bachelor
Degree in Business Management. Mr. Dastrup is the son of Lincoln and Linda
Dastrup.
 
 Significant
employees
 
 Curatech
Industries, Inc. and its subsidiary have no present employees who are expected
to make a significant contribution to the Company’s business other than the
Company’s current officers and directors.  It is expected that current
members of management will be the only persons whose activities will be material
to the Company’s operations.
 
 Family
relationships
 
 There are
no family relationships between any directors or executive officers of the
Company and/or the officers, directors or managers of its subsidiary, MedaCure,
either by blood or by marriage, except for the following:  Lincoln
Dastrup and Linda L. Dastrup are husband and wife.  Jarom Dastrup is
their son.
  39
 
 Involvement
in certain legal proceedings
 
 During
the past five years, no present or former director, person nominated to become a
director, executive officer, promoter or control person of the
Company:
 
 (1) was a
general partner or executive officer of any business which filed a petition in
bankruptcy or against which any bankruptcy petition was filed, either at the
time of the bankruptcy or two years prior to that time;
 
 (2) was
convicted in a criminal proceeding or named subject to a -pending criminal
proceeding (excluding traffic violations and other minor offenses);
 
 (3) was
subject to any order, judgment or decree, not subsequently reversed, suspended
or vacated, of any court of competent jurisdiction, permanently or temporarily
enjoining, him from or otherwise limiting his involvement in the following
activities:
 
 (i)
Acting as a futures commission merchant, introducing broker, commodity trading
advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Commission, or an associated
person of any of the foregoing, or as an investment
adviser,  underwriter, broker or dealer in securities, or as an
affiliated person, director or employee of any investment company, bank, savings
and loan association or insurance company, or engaging in or continuing any
conduct or practice in connection with such activity;
 
 (ii)
Engaging in any type of business practice; or
 
 (iii)
Engaging in any activity in connection with the purchase or sale of any security
or commodity or in connection with any violation of Federal or State securities
laws or Federal commodities laws; or
 
 (4) was
the subject of any order, judgment or decree, not subsequently reversed,
suspended or vacated, of any Federal or State authority barring, suspending or
otherwise limiting for more than 60 days the right of such person to engage in
any activity described in paragraph (3)(i) above, or to be associated with
persons engaged in any such activity; or
 
 (5) was
found by a court of competent jurisdiction in a civil action or by the
Securities and Exchange Commission to have violated any Federal or State
securities law, and the judgment in such civil action or funding by the
Commission has not been subsequently reversed, suspended, or vacated;
or
 
 (6) was
found by a court of competent jurisdiction in a civil action or by the Commodity
Futures Trading Commission to have violated any Federal commodities law, and the
judgment in such civil action or finding by the Commodity Futures Trading
Commission has not been subsequently reversed, suspended or
vacated.
 
 Section
16(a) beneficial ownership reporting compliance
 
 Based
solely upon a review of Forms 3 and 4 furnished to the Company under Rule
16a-3(d) during its most recent fiscal year, the Company knows of no person who
was a director, officer, beneficial owner of more than ten percent of any class
of equity securities of the Company registered pursuant to Section 12
("Reporting  Person") that failed to file on a timely basis any
reports required to be furnished pursuant to Section 16(a) during the most
recent fiscal year.
  40
 
 Code
of Ethics
 
 We have
recently adopted a Code of Ethics that applies to our principal executive
officer, principal financial officer, principal accounting officer or
controller, and persons performing similar functions.A copy of the
Code of Ethics is attached to this Annual Report as Exhibit 14.1.
 
 Audit
Committee and Financial Expert
 
 At the
present time, our Board of Directors serves as our audit
committee.  We do not presently have a financial expert on our Board
of Directors.  None of our directors is independent.
 
 Nominating
Committee
 
 The
Company does not have a standing nominating committee or a committee performing
similar functions. Due to the Company's size, it is difficult to attract
individuals who would be willing to accept membership on the Company's Board of
Directors.  Therefore, the full Board of Directors would participate
in nominating candidates to the Board of Directors.  The Company did
not have an annual meeting of shareholders in the past fiscal year.
 
 Other
Committees
 
 We
presently do not have a compensation committee, executive committee of our Board
of Directors, stock plan committee or any other committees.
 
 
 Item  11.     Executive
Compensation
 
 
 Cash
Compensation
 
 The
following table shows compensation earned during fiscal 2008 and 2007 by the
Chief Executive Officer and by any other executive officers whose compensation
during one of the two fiscal years totaled $100,000 or more The information in
the table includes salaries, bonuses, stock options granted, restricted stock
awards granted and other miscellaneous compensation. We presently have no long
term compensation benefits.
 
 SUMMARY
COMPENSATION TABLE
  AllName and
                
                
                
                
                
                
                
                
                
                
                
                OtherPrincipal
                Fiscal
                
                Salary
                
                
                Bonus
                
                
                Stock
                
                
                Compen-Position
                Year
                
                ($)
                
                
                ($)
                
                
                Awards
                
                
                sation
                
                
                TotalLincolnDastrup
                12/31/08
                
                $
                250,000
                
                
                $
                0
                
                
                
                0
                
                
                
                0
                
                
                $
                250,000CEOLincolnDastrup(1)
                12/31/07
                
                $
                0
                
                
                $
                0
                
                
                $
                1,010,000
                (1)
                
                
                0
                
                
                $
                1,010,000CEO
 ________________
 (1) The
Company issued 1,000,000 shares of its common stock, valued at $1.01 per share,
to The Dastrup Family Trust in 2007 for services rendered.  In 2008,
the Dastrup Family Trust returned all 1,000,000 shares to the Company’s stock
transfer agent to be canceled, for no consideration.  The 1,000,000
shares were canceled in 2008.
  41
 
 Columns
have been omitted from the Summary Compensation Table above for option awards,
non-equity incentive plan compensation and changes in pension value and
nonqualified deferred compensation earnings since there were none.
 
 Except as
described above, no cash compensation, deferred compensation or long-term
incentive plan awards were issued or granted to the Company’s management during
the fiscal years ended December 31, 2008 or 2007.  Except as described
above, no other officers or directors were paid any salaries or compensation
during the years ended December 31, 2008 or 2007.  Further, no member
of the Company’s management has been granted any option or stock appreciation
rights.  Accordingly, no tables relating to such items have been
included within this Item 11.
 
 There are
no present plans whereby the Company will issue any of its securities to
management, promoters, their affiliates or associates in consideration of
services rendered or otherwise, except as described herein.
 
 Compensation
of directors
 
 The
Company has no arrangement for compensating its directors for their services as
directors or for serving on any committees.  However, directors may be
compensated for services which they render as officers and/or as employees of
the Company.
 
 Employment
contracts and termination of employment and change-in-control arrangements
 
 There are
no employment contracts, compensatory plans or arrangements, including payments
to be received from the Company with respect to any executive officer of the
Company which would in any way result in payments to any such person because of
his or her resignation, retirement or other termination of employment with the
Company or its subsidiary, any change in control of the Company or a change in
the person's responsibilities following a change in control of the
Company.
 
 Nor are
there any agreements or understandings for any director or executive officer to
resign at the request of another person.  None of the Company’s
directors or executive officers is acting on behalf of or will act at the
direction of any other person.
 
 The
Company may enter into employment agreements with some of its officers in the
near future but no definite terms have been agreed to yet.
 
 Compensation
pursuant to plans; pension table
 
 There
were no stock awards, restricted stock awards, stock options, stock appreciation
rights, long-term incentive plan compensation or similar rights granted to any
of our officers or directors, except as described above.  None of our
officers or directors presently holds directly any stock options or stock
purchase rights. We have no retirement, pension, profit sharing, or other plan
covering any of our officers and directors.
 
 We have
adopted no formal stock option plans for our officers, directors and/or
employees. We reserve the right to adopt one or more stock options plans in the
future.  Presently we have no plans to issue additional shares of our
common or preferred stock or options to acquire the same to our officers,
directors or their affiliates or associates.
  42
 
 Other
compensation
 
 None.
 
 Compensation
Committee Interlocks and Insider Participation
 
 The
Company has no compensation committee, and the function of the compensation
committee is handled by the Board of Directors.  Each of the directors
of the Company also serves as an officer of the Company.
 
 Compensation
Committee Report
 
 The
Company has no compensation Committee, and the function of the compensation
committee is handled by the Board of Directors.  Each of the directors
of the Company also serves as an officer of the Company.  The Board of
Directors approved the compensation paid to Lincoln Dastrup in
2008.
 
 
 Item  12.     Security
Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters
 
 
 The
following table sets forth the share holdings of those persons who are known to
the Company to be the beneficial owners of more than five percent (5.0%) of the
Company’s common stock and of the share holdings of the Company’s directors and
executive officers as of March 26, 2009.  Each of these persons has
sole investment and sole voting power over the shares indicated, except as
otherwise described below.  Percentages are based on 17,580,199shares issued and
outstanding.
  Name
      and Address
              
              Number
      of Shares
              
              
              Percent(1)5%
      Beneficial Owners:The
      Dastrup Family Trust
              
              
              6,936,673
              (2)
              
              
              39.4
              %Directors
      and Executive Officers:Lincoln
      Dastrup
              
              
              6,936,673
              (3)
              
              
              39.4
              %Linda
      Dastrup
              
              
              6,936,673
              (4)
              
              
              39.4
              %Jarom
      Dastrup
              
              
              1,986,667
              (5)
              
              
              11.3
              %All
      directors and executive officers as a group
              
              
              8,923,340
              (6)
              
              
              50.8
              %(3
      persons)
 ____________
 (1)
              Percentage
      ownership is based on 17,580,199shares
      outstanding. Percentage is calculated for each individual listed based
      upon their beneficial ownership of shares, although ownership may be
      shared with others, such as the Dastrup Family
  Trust.
 (2)
              The
      Dastrup Family Trust is a family trust of which Lincoln Dastrup and Linda
      Dastrup are the trustees with voting and dispositive power over the
      trust.
 (3)
              Mr.
      Dastrup’s shares are held in the name of The Dastrup Family Trust, of
      which Mr. Dastrup is a trustee and, as indicated above, and which holds
      6,936,673 shares.
 (4)
              Mrs.
      Dastrup’s shares are held in the name of The Dastrup Family Trust, of
      which Mrs. Dastrup is a trustee and, as indicated above, and which holds
      6,936,673 shares.
 (5)
              Amount
      shown includes 886,667 shares that are owned by Vastmann Investment
      Partners, LLC, of which Jarom Dastrup owns a one-third interest, and over
      which he has voting and dispositive
control.
 (6)
              Amount
      shown represents the holdings of The Dastrup Family Trust, of which
      Lincoln Dastrup and Linda Dastrup are trustees, Jarom Dastrup and Vastmann
      Investment Partners, LLC that is one-third owned by Jarom
      Dastrup.
  43
  All
common shares held by the officers, directors and principal shareholders listed
above are restricted or control securities and are subject to limitations on
resale. The shares may be sold in compliance with the requirements of Rule 144,
after a minimum six months holding period has been met.
 
 Rule
13d-3 generally provides that beneficial owners of securities include any person
who directly or indirectly has or shares, voting power and/or investment power
with respect to such securities; and any person who has the right to acquire
beneficial ownership of such security within 60 days.
 
 Any
securities not outstanding which are subject to options, warrants or conversion
privileges exercisable within 60 days are treated as outstanding for the purpose
of computing the percentage of outstanding securities owned by that
person.  But such securities are not treated as outstanding for the
purpose of computing the percentage of the class owned by any other
person.
 
 Changes
in control
 
 There are
no present arrangements or pledges of the Company’s securities, known to
management, which may result in a change in control of the Company.
 
 Securities
Authorized for Issuance under Equity Compensation Plans
 
 The
Company has no equity compensation plans that have been approved by the
Company’s security holders or the Board of Directors.  There presently
are no securities authorized for issuance under any equity compensation
plans.  There are no outstanding options, warrants or rights to
acquire securities of the Company.
 
 
 Item  13.     Certain
Relationships and Related Transactions, and Director Independence.
 
 
 Transactions
with management and others
 
 During
the past two fiscal years of the Company, and since then, there have been no
material transactions or series of similar transactions to which the Company or
any of our subsidiaries were or are to be a party, in which the amount involved
exceeds the lesser of $120,000 or one percent of the average of the Company’s
total assets at year end for the last two completed fiscal years, in which any
related person (as defined in Item 404 of Regulation S-K)had a director or indirect
material interest, except for the following:
 
 (1)
During the years ended December 31, 2008 and 2007 the Company has at various
times made temporary loans and/or advances to the Company’s Chief Executive
Officer.  During 2008, the Company converted cash advances to an
officer of $74,005 plus accrued interest of $3,880 into compensation expense,
pursuant to the officer’s employment agreement.
  44
 
 (2) On
December 15, 2007, the Company issued 1,000,000 shares of its common stock,
valued at $1.01 per share, to The Dastrup Family Trust for services rendered to
the Company.  Lincoln M. Dastrup and Linda L. Dastrup are Trustees of
The Dastrup Family trust.  Mr. and Mrs. Dastrup and their five
children are beneficiaries of the trust.  During 2008, The Dastrup
Family Trust returned all 1,000,000 shares to the Company for cancellation, for
no consideration.
 
 (3) Prior
to 2008, the Company’s officers contributed their services without
compensation.  The Company recorded an expense of $7,000 for these
services during the year ended December 31, 2007.
 
 No other
related party transactions are presently proposed.
 
 Conflicts
of Interest
 
 Our
public stockholders should be aware of the following potential conflicts of
interest.  Our officers and directors are not required to commit their
full time to our affairs and, accordingly, they have conflicts of interest in
allocating management time among various business activities.
 
 Policies
and Procedures for Review, Approval or Ratification of Transactions with Related
Persons
 
 Our board
of directors reviews, and must approve any related person transactions before
such transactions are engaged in by the Company.  A related person
means any person who is, or at any time since the beginning of our last fiscal
year was, a director or executive officer of the Company or a nominee to become
a director of the Company; any person who is know to be the beneficial owner of
more than 5% of any class of our voting securities; any immediate family member
of any of the foregoing persons, which means any child, stepchild, parent,
stepparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law of the director, executive
officer, nominee or more than 5% beneficial owner, and any person (other than a
tenant or employee) sharing the household of such director, executive officer,
nominee or more than 5% beneficial owners; and any firm, corporation, or other
equity in which any of the foregoing persons is employed or is a general partner
or principal or is a similar position or in which such person has a 5% or
greater beneficial ownership interest.  Our board of directors reviews
these related person transactions and considers all of the relevant facts and
circumstances available to the board of directors, including (if applicable) but
not limited to; the benefits to us; the availability of other sources of
comparable products or services; the terms of the transaction; and the terms
available to unrelated third parties or to employees generally.  The
board of directors may approve only those related person transactions that are
in, or are not inconsistent with the best interests of us and of our
stockholders, as the board of directors determines in good faith.  At
the beginning of each fiscal year, the board of directors will review any
previously approved or ratified related person transactions that remain ongoing
and have a remaining term of more than six months.  The board of
directors will consider all of the relevant facts and circumstances and will
determine if it is in the best interests of us and our stockholders to continue,
modify or terminate these related person transactions.
 
 Independence
of Directors
 
 The
Company currently does not have, and is not required to have, a majority of
independent directors.  Should the company decide to list on a
securities exchange, we will be required to adhere to the independence
requirements of that exchange.  Our present directors are not
independent because each of them currently serves as an officer of the
Company.
  45
 
 
 Item
14.      Principal Accounting Fees and
Services
 
 
 We do not
have an audit committee and as a result our entire board of directors performs
the duties of an audit committee. Our board of directors will approve in advance
the scope and cost of the engagement of an auditor before the auditor renders
audit and non-audit services.  As a result, we do not rely on
pre-approval policies and procedures.
 
 Audit
Fees
 
 The
aggregate fees billed by our independent auditors of record, Moore &
Associates, for professional services rendered for the quarterly reviews of our
financial statements during 2008 and for the audit of our annual financial
statements included in our report on Form 10-K for the year ended December 31,
2008 were approximately $13,125.  The aggregate fees billed by our
independent auditors of record, Moore & Associates, for professional
services rendered for the quarterly reviews of our financial statements during
2007 and for the audit of our annual financial statements included in our report
on Form 10-KSB for the year ended December 31, 2007 were approximately
$6,000.00.
 
 Audit
Related Fees
 
 For the
fiscal years ended December 31, 2008 and 2007, there were no fees billed for
assurance and related services by Moore & Associates relating to the
performance of the audit of our financial statements which are not reported
under the caption "Audit Fees" above.
 
 Tax
Fees
 
 For the
fiscal years ended December 31, 2008 and 2007, there were no fees billed by
Moore & Associates for tax compliance, tax advice and tax
planning.
 
 We do not
use Moore & Associates for financial information system design and
implementation. These services, which include designing or implementing a system
that aggregates source data underlying the financial statements or generates
information that is significant to our financial statements, are provided
internally or by other service providers.  We do not engage Moore
& Associates to provide compliance outsourcing services.
 
 The board
of directors has considered the nature and amount of fees billed by Moore &
Associates and believes that the provision of services for activities unrelated
to the audit is compatible with maintaining Moore & Associates'
independence.
 
 Policy
on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of
Independent Auditors
 
 Our Board
of Directors serves as our audit committee.  The audit committee's
policy is to pre-approve all audit and permissible non-audit services provided
by the independent auditors. These services may include audit services,
audit-related services, tax services, and other services. Pre-approval is
generally provided for up to one year, and any pre-approval is detailed as to
the particular service or category of services and is generally subject to a
specific budget. The independent auditors and management are required to
periodically report to the audit committee regarding the extent of services
provided by the independent auditors in accordance with this pre-approval and
the fees for the services performed to date. The audit committee may also
pre-approve particular services on a case-by-case basis.
  46
 
 
 Item  15.     Exhibits
and Financial Statement Schedules
 
 
 1.           Financial
Statements:
 
 Index to
Financial Statements
 
 CuraTech
      Industries, Inc.Report
      of Independent Registered Public Accounting Firm
                23Balance
      Sheets at December 31, 2008 and December 31, 2007
                24Statements
      of Operations for the years ended December 31, 2008 and
      2007
                25Statements
      of Changes in Stockholders; Equity for the years endedDecember
      31, 2008, and 2007
                26Statements
      of Cash Flows for the years ended December 31, 2008 and
    2007
                27Notes
      to Financial Statements
                29
 2.           Financial Statement
Schedule(s):
 
 No
financial statement schedules are filed herewith because (i) such schedules are
not required or (ii) the information required has been presented in the
aforementioned financial statements.
 
 3.           Exhibits:
 
 The
following Exhibits are filed as part of this report.
  Exhibit
      No.
              Exhibit
      Name2.1(1)
              Agreement
      and Plan of Merger by and among Jump’n Jax, Inc., CuraTech Acquisitions,
      Inc. and MedaCure International, Inc., including
  Addendum
 3.1(2)
              Articles
      of Incorporation
 3.2(2)
              By-Laws
 14.1
              Code
      of Ethids
 21.1(3)
              List
      of Subsidiaries
 31.1
              Certification
      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002
 31.2
              Certification
      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002
 32.1
              Certificate
      of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley
      Act of 2002
 32.2
              Certificate
      of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley
      Act of 2002
 
 Summaries
      of all exhibits contained within this report are modified in their
      entirety by reference to these
exhibits.
 
 _________________
 (1)
              Exhibit
      2.1 is incorporated by reference from the Company’s Form 8-K Current
      Report filed June 22, 2006 as  Exhibit
  2.1
 (2)
              Exhibit
      3.1 and 3.2 are incorporated by reference from the Company’s SB-2
      Registration Statement filed September 9, 2004 as Exhibits 3.1 and
      3.2
 (3)
              Exhibit
      21.2 is incorporated by reference from the Company’s Form 8-K Current
      Report filed December 21, 2006
  47
  
 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.
  CuraTech
      Industries, Inc.Dated:   April
      15, 2009
                By:
                /s/ Lincoln M. DastrupLincoln
      M. DastrupChief Executive Officer
  Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been
signed below by the following persons on behalf of the registrant, in the
capacities and on the dates indicated.
  Signature
                
                Title
                
                Date/s/ Lincoln M. Dastrup
                
                President,
      Chief
                
                April
      15, 2009Lincoln
      M.
      Dastrup
                
                Executive
      Officer and
                  Chief
      Financial Officer/s/
      Jarom L. Dastrup
                
                Director
      and Treasurer
                
                April
      15, 2009Jarom
      L. Dastrup/s/ Linda L. Dastrup
                
                Director
      and Treasurer
                
                April
      15, 2009Linda
      L. Dastrup
   48