UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                           FORM 10-KSB

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the fiscal year ended December 31, 2005


[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     AND EXCHANGE ACT OF 1934

                Commission file number: 000-30991

             SKINOVATION PHARMACEUTICAL INCORPORATED
      ------------------------------------------------------
      (Exact name of Registrant as specified in its charter)

                Nevada                        87-0458170
        -----------------------     -----------------------------------
       (State of incorporation)     (I.R.S. Employer Identification No.)

2157 S. Lincoln Street, Salt Lake City, Utah      84106
--------------------------------------------    ----------
(Address of principal executive offices)          (Zip code)

Issuer's telephone number, including area code:   (801) 323-2395

Securities registered under Section 12(b) of the Exchange Act:  None

Securities registered under Section 12(g) of the Exchange Act:  Common Stock

Check whether the issuer is not required to file reports pursuant to Section
13 or 15(d) of the Exchange Act. [ ]

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file
such reports) and (2) has been subject to such filing requirements for the
past 90 days.   Yes [X]  No [ ]

Check if disclosure of delinquent filers in response to item 405 of Regulation
S-B is not contained herein, and will not be contained, to the best of
registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. [X]

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act).   Yes [X]   No [ ]

State issuer's revenue for its most recent fiscal year:  None

A market value of the voting stock held by non-affiliates cannot be determined
because the registrant does not have an active trading market.

As of February 23, 2006 the registrant had 708,000 shares of common stock
outstanding.

Documents incorporated by reference: None

Transitional Small Business Disclosure Format: Yes [ ] No [X]


<PAGE>

                        TABLE OF CONTENTS

                              PART I

Item 1.  Description of Business............................................3
Item 2.  Description of Property............................................5
Item 3.  Legal Proceedings..................................................5
Item 4.  Submission of Matters to a Vote of Security Holders................5

                             PART II

Item 5.  Market for Common Equity and Related Stockholder Matters...........5
Item 6.  Management's Discussion and Analysis or Plan of Operation..........6
Item 7.  Financial Statements     ..........................................6
Item 8.  Changes In and Disagreements with Accountants on Accounting and
         Financial Disclosure..............................................16
Item 8A. Controls and Procedures...........................................16
Item 8B. Other Information.................................................16

                             PART III

Item 9.  Directors, Executive Officers, Promoters and Control Persons,
         Compliance with Section 16(a) of the Exchange Act.................16
Item 10. Executive Compensation............................................17
Item 11. Security Ownership of Certain Beneficial Owners and Management
         and Related Stockholder Matters...................................17
Item 12. Certain Relationships and Related Transactions....................18
Item 13. Exhibits..........................................................18
Item 14. Principal Accountant Fees and Services............................18
Signatures.................................................................19


In this annual report references to "Skinovation," "we," "us," and "our" refer
to Skinovation Pharmaceutical Incorporated.

        SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

The Securities and Exchange Commission ("SEC") encourages companies to
disclose forward-looking information so that investors can better understand
future prospects and make informed investment decisions.  This report contains
these types of statements.  Words such as "may," "will," "expect," "believe,"
"anticipate," "estimate," "project," or "continue" or comparable terminology
used in connection with any discussion of future operating results or
financial performance identify forward-looking statements.  You are cautioned
not to place undue reliance on the forward-looking statements, which speak
only as of the date of this report.  All forward-looking statements reflect
our present expectation of future events and are subject to a number of
important factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.



                                2


<PAGE>


                              PART I

ITEM 1. DESCRIPTION OF BUSINESS

Business Development

The company was originally incorporated in the state of Nevada on January 15,
1988, as Data Financial Corporation.  In 1992 Data Financial obtained a
license to certain pharmaceutical products and on August 5, 1992, Data
Financial changed its name to Skinovation Pharmaceutical Incorporated.  In
1993, a court of law determined that Skinovation did not own the license for
the pharmaceutical products and we have not had operations since that time.

Our Plan

We are a development stage company and have had recurring operating losses for
the past two fiscal years.  Our independent auditors have expressed doubt that
we can continue as a going concern unless we obtain financing to continue
operations.

Our business plan is to seek, investigate, and, if warranted, acquire an
interest in a business opportunity.  Our acquisition of a business opportunity
may be made by merger, exchange of stock, or otherwise.  We have very limited
sources of capital, and we probably will only be able to take advantage of one
business opportunity. As of the date of this filing we have not identified any
business opportunity that we plan to pursue, nor have we reached any
preliminary or definitive agreements or understandings with any person
concerning an acquisition or merger.

Based on current economic and regulatory conditions, management believes that
it is possible, if not probable, for a company like ours, without many assets
or liabilities, to negotiate a merger or acquisition with a viable private
company.  The opportunity arises principally because of the expensive legal
and accounting fees and the length of time associated with the registration
process of "going public."  However, should any of these conditions change, it
is very possible that there would be little or no economic value for anyone
taking over control of Skinovation.

Our search for a business opportunity will not be limited to any particular
geographical area or industry and includes both United States and
international companies.  Our management has unrestricted discretion in
seeking and participating in a business opportunity, subject to the
availability of such opportunities, economic conditions and other factors.
Our management believes that companies who desire a public market to enhance
liquidity for current stockholders, or plan to acquire additional assets
through issuance of securities rather than for cash, will be potential merger
or acquisition candidates.

The selection of a business opportunity in which to participate is complex and
extremely risky and will be made by management in the exercise of its business
judgement.  Our activities are subject to several significant risks which
arise primarily as a result of the fact that we have no specific business and
may acquire or participate in a business opportunity based on the decision of
management which will, in all probability, act without consent, vote, or
approval of our stockholders.  We can not assure you that we will be able to
identify and acquire any business opportunity which will ultimately prove to
be beneficial to us and our stockholders.  Should a merger or acquisition
prove unsuccessful, it is possible management may decide not to pursue further
acquisition activities and management may abandon our search and we may become
dormant or be dissolved.

It is possible that the range of business opportunities that might be
available for consideration by us could be limited by the fact that our common
stock is not listed on any market.  We cannot assure you that a market will
develop or that a stockholder will be able to liquidate his/her/its
investments without considerable delay, if at all.  If a market develops, our
shares will likely be subject to the rules of the Penny Stock Suitability
Reform Act of 1990.  The liquidity of penny stock is affected by specific
disclosure procedures required by this Act to be followed by all
broker-dealers, including but not limited to, determining the suitability of
the stock for a particular customer, and obtaining a written agreement from
the customer to purchase the stock.  This rule may affect the ability of
broker-dealers to sell our securities and may affect the ability of purchasers
to sell our securities in any market.


                                3

<PAGE>


Investigation and Selection of Business Opportunities

We anticipate that business opportunities will come to our attention from
various sources, including our officers and directors, our stockholders,
professional advisors such as attorneys and accountants, securities
broker-dealers, investment banking firms, venture capitalists, members of the
financial community and others who may present unsolicited proposals.
Management expects that prior personal and business relationships may lead to
contacts with these various sources.

Our management will analyze the business opportunities; however, none of our
management are professional business analysts.  (See Part III, Item 9, below.)
Our management has had limited experience with mergers and acquisitions of
business opportunities and has not been involved with an initial public
offering.  Management may rely on promoters or their affiliates, principal
stockholders or associates to assist in the investigation and selection of
business opportunities.

Certain conflicts of interest exist or may develop between us and our officers
and directors.  Our management has other business interests to which they
currently devote attention, which include their primary employment, and John
W. Peters, our president, is management of other development stage reporting
companies seeking merger candidates.  Our management may be expected to
continue to devote their attention to these other business interests although
management time should be devoted to our business.  As a result, conflicts of
interest may arise that can be resolved only through their exercise of
judgement in a manner which is consistent with their fiduciary duties to us.

A decision to participate in a specific business opportunity may be made upon
our management's analysis of:
..      the quality of the business opportunity's management and personnel,
..      the anticipated acceptability of its new products or marketing concept,
..      the merit of its technological changes,
..      the perceived benefit that it will derive from becoming a publicly held
       entity, and
..      numerous other factors which are difficult, if not impossible, to
       analyze through the application of any objective criteria.

No one factor described above will be controlling in the selection of a
business opportunity.  Management will attempt to analyze all factors
appropriate to each opportunity and make a determination based upon reasonable
investigative measures and available data.  Potential business opportunities
may occur in many different industries and at various stages of development.
Thus, the task of comparative investigation and analysis of such business
opportunities will be extremely difficult and complex.  Potential investors
must recognize that because of our limited capital available for investigation
and management's limited experience in business analysis, we may not discover
or adequately evaluate adverse facts about the business opportunity to be
acquired.

In many instances, we anticipate that the historical operations of a specific
business opportunity may not necessarily be indicative of the potential for
the future because of the possible need to substantially shift marketing
approaches, significantly expand operations, change product emphasis, change
or substantially augment management, or make other changes.  We will be
dependent upon the owners of a business opportunity to identify any such
problems which may exist and to implement, or be primarily responsible for,
the implementation of required changes.

Form of Acquisition

We cannot predict the manner in which we may participate in a business
opportunity.  Specific business opportunities will be reviewed as well as our
needs and desires and those of the promoters of the opportunity.  The legal
structure or method deemed by management to be suitable will be selected based
upon our review and our relative negotiating strength.  Such method may
include, but are not limited to, leases, purchase and sale agreements,
licenses, joint ventures and other contractual arrangements.  We may act
directly or indirectly through an interest in a partnership, corporation or
other forms of organization.  We may be required to merge, consolidate or
reorganize with other corporations or forms of business organization.  In
addition, our present management and stockholders most likely will not have
control of a majority of our voting shares following a merger or
reorganization transaction. As part of such a transaction, our existing
directors may resign and new directors may be appointed without any vote by
our stockholders.

                                4

<PAGE>


We likely will acquire our participation in a business opportunity through the
issuance of common stock or other securities.  Although the terms of any such
transaction cannot be predicted, it should be noted that issuance of
additional shares also may be done simultaneously with a sale or transfer of
shares representing a controlling interest by current principal stockholders.

In the event we merge or acquire a business opportunity, the successor company
will be subject to our reporting obligations.  This is commonly referred to as
a "back door registration."  A back door registration occurs when a
non-reporting company becomes the successor of a reporting company by merger,
consolidation, exchange of securities, acquisition of assets or otherwise.
This type of event requires the successor company to file a current report
with the SEC which provides the same kind of information about the company to
be acquired that would appear in a registration statement, including audited
and pro forma financial statements.  Accordingly, we may incur additional
expense to conduct due diligence and present the required information for the
business opportunity in any report.  Also, the SEC may elect to conduct a full
review of the successor company and may issue substantive comments on the
sufficiency of disclosure related to the company to be acquired.

Competition

We expect to encounter substantial competition in our effort to locate
attractive opportunities.  Business development companies, venture capital
partnerships and corporations, venture capital affiliates of large industrial
and financial companies, small investment companies, and wealthy individuals
will be our primary competition. Many of these entities will have
significantly greater experience, resources and managerial capabilities than
we do and will be in a better position than we are to obtain access to
attractive business opportunities.  We also will experience competition from
other public development stage companies, many of which may have more funds
available for these transactions.

Employees

We currently have no employees.  Our management expects to confer with
consultants, attorneys and accountants as necessary.  We do not anticipate a
need to engage any full-time employees so long as we are seeking and
evaluating business opportunities.

ITEM 2. DESCRIPTION OF PROPERTY

We do not currently own or lease any property.  Until we pursue a viable
business opportunity and recognize income, we will not seek office space.

ITEM 3. LEGAL PROCEEDINGS

We are not a party to any proceedings or threatened proceedings as of the date
of this filing.

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

We have not submitted a matter to a vote of our shareholders during the fourth
quarter of the 2005 fiscal year.

                             PART II

ITEM 5: MARKET PRICE FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS

Our common stock is not listed on any public market.  As of February 23, 2006
we had 306 stockholders of record.  We have not declared dividends on our
common stock and do not anticipate paying dividends on our common stock in the
foreseeable future.


                                5

<PAGE>


Recent Sales of Unregistered Securities

None.

Issuer Purchase of Securities

None.

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

We are a development stage company and have recorded losses since our
inception.  At December 31, 2005, we had $771 in cash and total liabilities of
$43,726.  We cannot satisfy our cash requirements for our operations, which
are related to legal, accounting and professional services required to prepare
and file our reports with the SEC.  We are unable to pay cash for these
services and have relied on related parties to pay for these costs on our
behalf.  These parties have not entered into written agreements guaranteeing
advances and, therefore, these parties are not obligated to provide funds in
the future.  However, management anticipates that these parties will continue
providing advances during the next twelve months.  Historically, we have paid
for these advances by converting the debt into common stock.

Our plan for the next twelve months is to search for a business opportunity
and, if feasible, acquire an interest in a business opportunity.  If we obtain
a business opportunity, then it may be necessary to raise additional capital.
We likely will sell our common stock to raise this additional capital.  We
expect to issue such stock pursuant to exemptions provided by federal and
state securities laws.  The purchasers and manner of issuance will be
determined according to our financial needs and the available exemptions.  We
do not currently intend to make a public offering of our stock.  We also note
that if we issue more shares of our common stock, then our shareholders may
experience dilution in the value per share of their common stock.

ITEM 7. FINANCIAL STATEMENTS








                 Skinovation Pharmaceutical, Inc.

                  (A Development State Company)

                       Financial Statements

                    December 31, 2005 and 2004






                                6

<PAGE>

                             CONTENTS


Independent Auditor's Report ..........................................8

Balance Sheets
........................................................................9

Statements of Operations .............................................10

Statements of Stockholders' Equity ...................................11

Statements of Cash Flows .............................................12

Notes to the Financial Statements .................................13-15


                                7


<PAGE>

Chisholm                                        533 West 2600 South, Suite 25
Bierwolf &                                              Bountiful, Utah 84010
Nilson, LLC                                             Phone: (801) 292-8756
Certified Public Accountants                              Fax: (801) 292-8809




     REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders
of Skinovation Pharmaceutical, Inc.

We have audited the accompanying balance sheets of Skinovation Pharmaceutical,
Inc. (a development stage company) as of December 31, 2005 and 2004 and the
related statements of operations, stockholders' equity and cash flows for the
years ended December 31, 2005 and 2004 and from inception January 15, 1988
through December 31, 2005.  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 the standards of the P.C.A.O.B.
(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.  The Company is not required to have, nor were we
engaged to perform, an audit of its internal control over financial reporting.
Our audit included consideration of internal control over financial reporting
as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control over financial reporting.
Accordingly, we express no such opinion.   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 Skinovation Pharmaceutical,
Inc. (a development stage company) as of December 31, 2005 and 2004 and the
results of its operations and cash flows for the years ended December 31, 2005
and 2004 and from inception January 15, 1988 through December 31, 2005 in
conformity with generally accepted accounting principles in the United States
of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  The Company has suffered recurring
losses from operations which raises substantial doubt about its ability to
continue as a going concern.  Management's plans in regard to these matters
are described in Note 2.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

/S/ Chisholm, Bierwolf & Nilson


Chisholm, Bierwolf & Nilson
Bountiful, Utah
March 2, 2006


                                8

<PAGE>



                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                          Balance Sheets



                              ASSETS

                                                           December 31
                                                   --------------------------
                                                        2005        2004
                                                   ------------ -------------
CURRENT ASSETS

Cash (Note 1)                                      $       771  $      3,037
                                                   ------------ -------------

  Total Assets                                     $       771  $      3,037
                                                   ============ =============


               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts Payable - Related party (Note 5)          $    38,726  $     33,776
Accounts Payable - Other                                 5,000         5,168
                                                   ------------ -------------

  Total Liabilities                                     43,726        38,944
                                                   ------------ -------------
STOCKHOLDERS' EQUITY

Common Stock, $.001 par value; 50,000,000 shares
 authorized; 708,000 shares issued and outstanding         708           708

Additional Paid - in Capital                            25,148        25,148

Deficit Accumulated during the development stage       (68,811)      (61,763)
                                                   ------------ -------------

  Total Stockholders' Equity (deficit)                 (42,955)      (35,907)
                                                   ------------ -------------

  Total Liabilities and Stockholders' Equity       $       771  $      3,037
                                                   ============ =============



 The accompanying notes are an integral part of these financial statements


                                9

<PAGE>




                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                     Statements of Operations

                                                                From
                                                                Inception on
                                                                January 15,
                                       For the Years Ended      1988 to
                                           December 31          Dec. 31,
                                         2005         2004      2005
                                    ------------- ------------- -------------

REVENUES                            $          -  $          -  $     27,937
                                    ------------- ------------- -------------
EXPENSES

  General & Administrative                 7,048         2,131       133,823
                                    ------------- ------------- -------------

    Total Expenses                         7,048         2,131       133,823
                                    ------------- ------------- -------------

Net loss before discontinued operations   (7,048)       (2,131)     (105,886)

Gain on disposal of operations                 -             -        37,075
                                    ------------- ------------- -------------

Net Loss                            $     (7,048) $     (2,131) $    (68,811)
                                    ============= ============= =============

Net Loss Per Share                  $      (0.01) $       0.00  $      (0.18)
                                    ============= ============= =============

Weighted average shares outstanding      708,000       708,000       397,376
                                    ============= ============= =============





The accompanying notes are an integral part of these financial statements

                                10

<PAGE>

                 Skinovation Pharmaceutical Inc.
                  (A Development Stage Company)
                Statements of Stockholders' Equity
   From Inception on January 15, 1988 through December 31, 2005

                                                                 Deficit
                                                                 Accumulated
                                                     Additional  During the
                                Common Stock         Paid in     Development
                             Shares       Amount     Capital     Stage
                           ------------- ----------- ----------- -------------

Balance, January 15, 1988             -  $        -  $        -  $          -

Stock issued for cash
 at $.067                        30,000          30       1,970             -

Net (loss) for the year
 ended December 31, 1988              -           -           -        (1,950)

Net (loss) for the year
 ended December 31, 1989              -           -           -           (10)

Net (loss) for the year
 ended December 31, 1990              -           -           -           (10)

Net (loss) for the year
 ended December 31, 1991              -           -           -           (10)

Stock issued for cash
 at $.033                       270,000         270       8,730             -

Net (loss) for the year
 ended December 31, 1992              -           -           -        (9,757)

Net gain for the year
 ended December 31, 1993              -           -           -           737
                           ------------- ----------- ----------- -------------
Balance - December 31, 1993     300,000         300      10,700       (11,000)

Shares canceled (Note 4)       (206,632)       (207)        207             -

Net (loss) for the year
 ended December 31, 1994              -           -           -             -
                           ------------- ----------- ----------- -------------
Balance - December 31, 1994      93,368          93      10,907       (11,000)

Net (loss) for the year
 ended December 31, 1995              -           -           -             -
                           ------------- ----------- ----------- -------------
Balance - December 31, 1995      93,368          93      10,907       (11,000)

Net (loss) for the year
 ended December 31, 1996              -           -           -        (1,424)
                           ------------- ----------- ----------- -------------
Balance - December 31, 1996      93,368          93      10,907       (12,424)

Stock issued for services         6,632           7         126             -

Stock issued for debt
 satisfaction                     5,000           5       1,418             -

Stock issued for cash           500,000         500       9,500             -

Stock offering costs                  -           -      (7,000)            -

Net (loss) for the year
 ended December 31, 1997              -           -           -        (3,508)
                           ------------- ----------- ----------- -------------
Balance - December 31, 1997     605,000         605      14,951       (15,932)

Stock issued for services        48,000          48       4,752             -

Net (loss) for the year
 ended December 31, 1998              -           -           -       (19,000)
                           ------------- ----------- ----------- -------------
Balance - December 31, 1998     653,000         653      19,703       (34,932)

Net (loss) for the year
 ended December 31, 1999              -           -           -       (14,200)
                           ------------- ----------- ----------- -------------
Balance - December 31, 1999     653,000         653      19,703       (49,132)

Stock issued for services        55,000          55       5,445             -

Net (loss) for the year
 ended December 31, 2000              -           -           -        (5,500)
                           ------------- ----------- ----------- -------------
Balance - December 31, 2000     708,000         708      25,148       (54,632)

Net (loss) for the year
 ended December 31, 2001              -           -           -             -
                           ------------- ----------- ----------- -------------
Balance - December 31, 2001     708,000         708      25,148       (54,632)

Net (loss) for the year
 ended December 31, 2002              -           -           -        (5,000)
                           ------------- ----------- ----------- -------------
Balance - December 31, 2002     708,000         708      25,148       (59,632)

Net (loss) for the year
 ended December 31, 2003              -           -           -             -
                           ------------- ----------- ----------- -------------
Balance - December 31, 2003     708,000         708      25,148       (59,632)

Net (loss) for the year
 ended December 31, 2004              -           -           -        (2,131)
                           ------------- ----------- ----------- -------------
Balance - December 31, 2004     708,000         708      25,148       (61,763)

Net (loss) for the year
 ended December 31, 2005              -           -           -        (7,048)
                           ------------- ----------- ----------- -------------

Balance - December 31, 2005     708,000  $      708  $   25,148  $    (68,811)
                           ============= =========== =========== =============



The accompanying notes are an integral part of these financial statements

                                11


<PAGE>





                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                     Statements of Cash Flows

                                                                From
                                                                Inception on
                                                                January 15,
                                       For the Years Ended      1988 through
                                           December 31          December 31,
                                         2005         2004      2005
                                    ------------- ------------- -------------
Cash Flows from Operating Activities

  Net Loss                          $     (7,048) $     (2,131) $    (68,811)
  Adjustments for non-cash items:
   Stock issued for debt repayment             -             -         1,424
   Shares issued for services                  -             -        10,433
   Increase in Accounts Payable            4,782         5,168        43,726
   Loss on disposal of PP&E                    -             -         5,263
                                    ------------- ------------- -------------
  Net Cash Provided (Used) by
   Operating Activities                   (2,266)        3,037        (7,965)
                                    ------------- ------------- -------------
Cash Flows from Investing Activities

  Cash paid for PP&E                           -             -        (5,264)
                                    ------------- ------------- -------------
   Net Cash Provided (Used) in
   Investing Activities                        -             -        (5,264)
                                    ------------- ------------- -------------
Cash Flows from Financing Activities

  Cash paid for offering cost                  -             -        (7,000)
  Issued common stock for cash                 -             -        21,000
                                    ------------- ------------- -------------
  Net cash Provided by
  Financing Activities                         -             -        14,000
                                    ------------- ------------- -------------

Increase (Decrease) in Cash               (2,266)        3,037           771

Cash, beginning of period                  3,037             -             -
                                    ------------- ------------- -------------

Cash, end of period                 $        771  $      3,037  $        771
                                    ============= ============= =============

Supplemental Cash Flow Information:
  Stock issued for debt repayment   $          -  $          -  $      1,424
  Stock issued for services         $          -  $          -  $     10,433

  Cash Paid For:
    Interest                        $          -  $          -  $          -
    Income Taxes                    $          -  $          -  $          -




The accompanying notes are an integral part of these financial statements.

                                12


<PAGE>


                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2005 and 2004

NOTE 1 - Summary of Significant Accounting Policies

     a.  Organization

         The Company was incorporated under the laws of the state of Nevada on
January 15, 1988 as Data Financial Corporation.  The Company began operations
when it became the recipient of a license to certain pharmaceutical products,
it also changed its name to Skinovation Pharmaceutical, Inc.  In 1993, it was
legally determined that the Company did not own the license it was operating
under.  The Company was ordered to cease and desist operations.  The Company
has been dormant since that time.

     b.  Accounting Method

         The Company recognizes income and expense on the accrual basis of
accounting.

     c.  Earnings (Loss) Per Share

         The computation of earnings per share of common stock is based on the
weighted average number of shares outstanding at the date of the financial
statements

                                        Income (loss)   Shares      Per Share
                                         (Numerator)  (Denominator)   Amount
                                        ------------- ------------- ----------
For the year ended December 31, 2005:

  Basic EPS
  Income (loss) to common stockholders  $     (7,048)      708,000  $   (0.01)
                                        ============= ============= ==========
For the year ended December 31, 2004:

  Basic EPS
  Income (loss) to common stockholders  $     (2,131)      708,000  $       -
                                        ============= ============= ==========
From inception on March 11, 1986 to
December 31, 2005:

  Basic EPS
  Income (loss) to common stockholders  $    (68,811)      397,376  $   (0.18)
                                        ============= ============= ==========


     d.  Cash and Cash Equivalents

         The Company considers all highly liquid investments with maturities
of three months or less to be cash equivalents.

                                13

<PAGE>


                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2005 and 2004

NOTE 1 - Summary of Significant Accounting Policies (continued)

     e.  Provision for Income Taxes

         No provision for income taxes have been recorded due to net operating
loss carryforwards totaling $68,811 that will be offset against future taxable
income.  These NOL carryforwards began to expire in the year 2005.  No tax
benefit has been reported in the financial statements because the Company
believes there is a 50% or greater chance the carryforward will expire unused.

         Deferred tax asset and the valuation account is as follows as
December 31, 2005 and 2004:

                                                         December 31,
                                                      2005          2004
                                                 -------------- -------------
    Deferred tax asset:
          NOL carryforward                       $      22,722  $     20,336

          Valuation allowance                          (22,722)      (20,336)
                                                 -------------- -------------
                                                 $           -  $          -
                                                 ============== =============


     f.  Use of estimates

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

NOTE 2 - Going Concern

         The accompanying financial statements have been prepared assuming
that the Company will continue as a going concern.  The Company has minimal
assets and has had recurring operating losses for the past several years and
is dependent upon financing to continue operations.  The financial statements
do not include any adjustments that might result from the outcome of this
uncertainty.  It is management's plan to find an operating company to merge
with, thus creating necessary operating revenue.

                                14


<PAGE>


                 Skinovation Pharmaceutical, Inc.
                  (A Development Stage Company)
                Notes to the Financial Statements
                    December 31, 2005 and 2004

NOTE 3 - Development Stage Company

         The Company is a development stage company as defined in Financial
Accounting Standards Board Statement No. 7.  It is concentrating substantially
all of its efforts in raising capital and searching for a business operation
with which to merge, or assets to acquire, in order to generate significant
operations.

NOTE 4 - Stock Transactions

         On January 3, 1992, the Company's Board of Directors authorized a 3
shares for 1 share forward stock split, and on January 13, 1997 the Board
authorized a 1 for 100 reverse split.  The Company's financial statements have
been retroactively restated to show the effects of the stock splits.

         Since the discontinuance of operations in 1993, shareholders have
returned 206,632 shares of outstanding common stock for cancellation, as
requested by the Board of Directors.

         On March 20, 1998 the Company issued 48,000 shares of its common
stock for services valued at $4,800.

         On July 19, 2000 the Company issued 30,000 shares of its common stock
for services valued at $3,000.

         On August 14, 2000 the Company issued 25, 000 shares of its common
stock for services valued at $2,500.

NOTE 5 - Related Party Transactions

         During the years ended December 31, 1999, 1998, and 1997 the Company
incurred $14,200, $14,200 and $376 respectively, of professional fees payable
to First Equity Holdings Corp. (formerly Mutual Ventures Corp.)  An officer of
the Company is an employee of First Equity Holdings Corp.

         During the years ended December 31, 2002 and 2005  the Company
incurred a total  $9,950 of professional fees payable to First Equity Holdings
Corp.


                                15

<PAGE>


ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURE

In our current report dated February 9, 2004, we reported that our independent
auditors, Chisholm & Associates, Certified Public Accountants, resigned as our
independent auditors and we engaged Chisholm, Bierwolf & Nilson, LLC,
Certified Public Accountants, as our independent auditors.

ITEM 8A. CONTROLS AND PROCEDURES

Our President, who acts in the capacities of our principal executive officer
and principal financial officer, evaluated the effectiveness of our disclosure
controls and procedures as of the end of the period covered by this report.
Based on that evaluation, he concluded that our disclosure controls and
procedures were effective.

He also determined that there were no changes made in our internal controls
over financial reporting during the fourth quarter of 2005 that have
materially affected, or are reasonably likely to materially affect our
internal control over financial reporting.

ITEM 8B. OTHER INFORMATION

None.

                             PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS,
        COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

Our executive officers and directors, their respective ages, positions and
biographical information are presented below.  Our bylaws require three
directors who serve for terms of one year or until they are replaced by a
qualified director.  We currently have one vacancy on our board of directors.
Our executive officers are chosen by our board of directors and serve at its
discretion.  There are no existing family relationships between or among any
of our executive officers or directors.

Name                    Age    Position Held                   Director Since
-----------------     -------  ---------------------------     --------------
John W. Peters          54     President, Director             June 20, 2000
M. Jeanne Ball          48     Secretary/Treasurer, Director   March 20, 1998

John W. Peters -  Mr. Peters is the manager of Development Specialties, Inc. a
property management company.  Since 1995 to the present he has been President
and Chairman of the Board of Earth Products and Technologies, Inc, a reporting
company.  Prior to 1995 he was employed as Earth Products' operations manager.
He also is a director of Bingham Canyon Corporation, Cancer Capital
Corporation, and Suncrest Global Energy Corp., which are development stage
reporting companies.  His prior business experience includes President and
Executive Officer of Certified Environmental Laboratories, Inc. and Vice
President of Sales and Marketing for Comco Communications Corp. in California.
Mr. Peters studied business administration at Long Beach Community College and
California Polytechnic State University in San Louis Obispo, California.

M. Jeanne Ball -  Mrs. Ball works as an independent contractor performing
duties of a legal secretary for attorneys.  She is a director of Wings &
Things, Inc., a development stage reporting company.

Audit Committee Financial Expert

Because we have minimal operations we do not have an audit committee serving
at this time, nor do we have an audit committee financial expert serving on an
audit committee.


                                16

<PAGE>


Compliance with Section 16(a) of the Exchange Act

Section 16(a) of the Securities Exchange Act of 1934 requires our directors,
executive officers and persons who own more than five percent of a registered
class of our equity securities, to file with the Securities and Exchange
Commission initial reports of ownership and reports of changes in ownership of
common stock and our other equity securities.  Officers, directors and greater
than ten-percent beneficial owners are required by SEC regulations to furnish
us with copies of all Section 16(a) reports they file.  We believe no filings
were required during the past fiscal year.

Code of Ethics

Due to the fact that we have minimal operations, we have not adopted a code of
ethics for our principal executive and financial officers.  Our board of
directors will revisit this issue in the future to determine if adoption of a
code of ethics is appropriate.  In the meantime, our management intends to
promote honest and ethical conduct, full and fair disclosure in our reports to
the SEC, and compliance with applicable governmental laws and regulations.

ITEM 10. EXECUTIVE COMPENSATION

None of our named executive officers received any cash compensation, bonuses,
stock appreciation rights, long term compensation, stock awards or long-term
incentive rights in excess of $100,000 from us during the past three fiscal
years.  John W. Peters, our President, who acts in the capacity similar to
chief executive officer did not receive compensation during the 2005 fiscal
year.  We have not entered into employment contracts with our executive
officers and their compensation, if any, will be determined at the discretion
of our Board of Directors.

Compensation of Directors

We do not have any standard arrangement for compensation of our directors for
any services provided as director, including services for committee
participation or for special assignments.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
         AND RELATED STOCKHOLDER MATTERS

Securities Under Equity Compensation Plans

We do not have any securities authorized for issuance under any equity
compensation plans.

Beneficial Ownership

The following table sets forth the beneficial ownership of our outstanding
common stock of each person or group known by us to own beneficially more than
5% of our outstanding common stock, as well as management's ownership.
Beneficial ownership is determined in accordance with the rules of the SEC and
generally includes voting or investment power with respect to securities.
Except as indicated by footnote, the persons named in the table below have
sole voting power and investment power with respect to all shares of common
stock shown as beneficially owned by them.  The percentage of beneficial
ownership is based on 708,000 shares of common stock outstanding as of
February 23, 2006.


                    CERTAIN BENEFICIAL OWNERS

Name and Address of              Number of Shares of
Beneficial Owners                Common Stock             Percentage of Class
-------------------------        ---------------------    -------------------

Donald R. Mayer                     250,000                   35.3%
6 E.  Northridge Lane
Sandy, Utah 84092

                                17

<PAGE>

National Financial
Services Corporation                 50,000                    7.1%
200 Liberty Street
One World Financial Center
New York, New York 10281

Arthur Candland                      44,000                    6.2%
5295 S.  300 W., Suite 499
Murray, Utah 84107


                            MANAGEMENT

Name and Address of               Number of Shares of
Beneficial Owners                 Common Stock             Percentage of Class
-------------------------         --------------------     -------------------

John W. Peters                       35,000                    4.9%
2157 S. Lincoln Street
Salt Lake City, Utah 84106

M. Jeanne Ball                       10,000                    1.4%
968 Bloomsbury Cove
Murray, Utah 84123

All directors and
officers as a group                  45,000                    6.4%


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

We have not engaged in any transactions in excess of $60,000 during the past
two years involving our executive officers, directors, 5% stockholders or
immediate family members of such persons.

ITEM 13. EXHIBITS

No.     Description
----    ------------

3.1     Articles of Incorporation as amended  (Incorporated by reference to
        exhibit 3.1 of the Form 10-KSB, filed March 29, 2002)
3.2     Bylaws of Skinovation (Incorporated by reference to exhibit 3.3 of the
        Form-SB, filed July 11, 2000)
31.1    Principal Executive Officer Certification
31.2    Principal Financial Officer Certification
32.1    Section 1350 Certification

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Accountant Fees

The following table presents the aggregate fees billed for each of the last
two fiscal years by our principal accountant, Chisholm, Bierwolf & Nilson LLC,
Certified Public Accountants, in connection with the audit of our financial
statements and other professional services rendered by that firm.

                                   2005               2004
                                ---------          ---------
     Audit fees                 $   1,400          $   1,407
     Audit-related fees                 0                  0
     Tax fees                           0                  0
     All other fees             $       0          $       0

Audit fees represent the professional services rendered for the audit of our
annual financial statements and the



                                18


<PAGE>


review of our financial statements included in quarterly reports, along with
services normally provided by the accountant in connection with statutory and
regulatory filings or engagements.  Audit-related fees represent professional
services rendered for assurance and related services by the principal
accountant that are reasonably related to the performance of the audit or
review of our financial statements that are not reported under audit fees.

Tax fees represent professional services rendered by the principal accountant
for tax compliance, tax advice, and tax planning.  All other fees represent
fees billed for products and services provided by the principal accountant,
other than the services reported for the other categories.

Pre-approval Policies

We do not have an audit committee currently serving and as a result our board
of directors performs the duties of an audit committee.  Our board of
directors will evaluate and approve in advance the scope and cost of the
engagement of an auditor.  We do not rely on pre-approval policies and
procedures.



                            SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934,
the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


Date: March 27, 2006             SKINOVATION PHARMACEUTICAL INCORPORATED


                                 /s/ John W. Peters
                              By:___________________________________________
                                 John W. Peters
                                 President



In accordance with the Exchange Act, this report has been signed below by the
following person on behalf of the registrant and in the capacities and on the
dates indicated.



                                  /s/ John W. Peters
Date: March 27, 2006          By:____________________________________________
                                 John W. Peters
                                 Principal Executive Officer
                                 Principal Financial and Accounting Officer




                                 /s/ M. Jeanne Ball
Date: March 27, 2006          By:___________________________________________
                                 M. Jeanne Ball
                                 Secretary/Treasurer and Director


                                19