UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549  FORM 10-K  (Mark One) [X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the year ended June 30, 2009[  ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  Commission file number: 000-23446  DIVERSIFIED OPPORTUNITIES, INC. (Exact Name of Registrant as Specified in its Charter)  Delaware94-3008888(State or jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)  10907 Technology PlaceSan Diego California92127(Address and of principal executive offices)(Zip Code)  (858) 345-8155 (Registrants telephone number, including area code)  Securities registered pursuant to Section 12 (b) of the Exchange Act:  Common Stock, par value $0.001 per share (Title of class)  Securities registered pursuant to Section 12 (g) of the Exchange Act: None  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  xIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act.  Yes  o    No  xIndicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days..  Yes  x    No  oIndicate by check mark if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-K contained in this form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K or any amendment to this Form 10-K.  oIndicate by check mark if the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b(2) of the Exchange Act. (Check one).
Large accelerated filer  o
Accelerated filer    o
Non-accelerated filer    o (1)
Smaller reporting company    x
(1)Do not check if a smaller reporting companyIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  x   No  oState issuer’s revenues for its most recent fiscal year: $0The aggregate market value of the voting and non-voting common equity on December 31, 2008 held by non-affiliates* of the registrant (based on the average bid and asked ($0.27) was approximately $49,732.   (See definition of affiliate in Rule 12b-2 of the Exchange Act.)  Shares of common stock held by each officer and director and by each person who owns 10% or more of the outstanding common stock of the registrant have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.  Without acknowledging that any individual director of registrant is an affiliate, all directors have been included as affiliates with respect to shares owned by them. At July 30, 2009, there were 9,199,192 shares outstanding of the issuers common stock, the only class of common equity.     DIVERSIFIED OPPORTUNITIES, INC. FORM 10-K FOR THE YEAR ENDED JUNE 30, 2009   TABLE OF CONTENTS  PART I   Item 1 - Description of Business Item 1A - Risk Factors Item 1B  Unresolved Staff Comments Item 2 - Description of Property Item 3 - Legal Proceedings Item 4 - Submission of Matters to a Vote of Security Holders     PART II  Item 5 - Market for Common Stock and Related Stockholder Matters Item 6 - Selected Consolidated Financial Data Item 7 - Managements Discussion and Analysis of Financial Condition and Results of Operations Item 7A - Quantitative and Qualitative Disclosures about Market Risk Item 8 - Financial Statements Item 9 - Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Item 9A - Controls and Procedures Item 9B - Other Information     PART III  Item 10 - Directors and Executive Officers of the Registrant Item 11 - Executive Compensation Item 12 - Security Ownership of Certain Beneficial Owners and Management Item 13 - Certain Relationships and Related Transactions Item 14 - Principal Accountant Fees and Services  PART IV  Item 15 - Exhibits  Signatures     SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS  In addition to historical information, this Annual Report on Form 10-K may contain statements relating to future results of Diversified Opportunities, Inc. (including certain projections and business trends) that are forward-looking statements. Our actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to, without limitation, statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as expects or does not expect, is expected, anticipates or does not anticipate, plans, estimates or intends, or stating that certain actions, events or results may, could, would, might or will be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements of the Company to be materially different from any future results or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, those set forth herein and those detailed from time to time in our other Securities and Exchange Commission (SEC) filings. These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Also, there can be no assurance that the Company will be able to raise sufficient capital to continue as a going concern.    1   Item 1 - Description of Business As used in this annual report, the terms "we", "us", "our", and the "Company" means Diversified Opportunities, Inc., a Delaware corporation or their management.  History  Diversified Opportunities, Inc., (the/our Company or DVOP), was originally incorporated on June 5, 1986 in California as Lab, Inc. and later the same month, on June 24, 1986, changed its name to Software Professionals, Inc.  At the time of formation, the Company was authorized to issue 1,000,000 shares of no par value common stock.  On October 16, 1992, the Company filed Amended Articles of Incorporation increasing its authorized common stock to 10,000,000 no par value shares and contemporaneously enacted a forward split of 25:1.  On January 12, 1994, the Company filed Amended and Restated Articles of Incorporation creating a class of 1,000,000 shares of blank check preferred stock, no par value, and enacting a reverse split of 1:2.77778.  On April 20, 1994, following the filing of a registration statement on Form S-1, the Company began quoting its stock on the NASDAQ National Market under the symbol SFTW.  During this time the Company was in the software solutions business, developing, marketing, and supporting software products designed to automate the management of computer systems for commercial concerns.  On May 21, 1996, the Company filed a Certificate of Amendment to its Amended and Restated Articles of Incorporation changing its name to Enlighten Software Solutions, Inc.  On October 23, 1998, the Company's common stock began trading on the NASDAQ Small Cap Market.  During August 2001, the Company filed a Form 15 for the purpose of deregistering its securities.  On September 13, 2001, the Company filed a voluntary petition under Chapter 7, in the U.S. Bankruptcy Court, Northern District of California.  On November 2, 2004, the Trustee filed its Report of Distribution and on January 4, 2005 a final decree was entered and the case was closed.  As a result of the bankruptcy, we ceased all business operations and have not engaged in any business operations from that time through the present.  On July 2, 2007, Michael Anthony was appointed President, Secretary and Treasurer of DVOP.  On or near July 10, 2007, Mr. Anthony filed the requisite documents with the State of California for the purpose of reinstating the corporate charter.  In October 2007, Corporate Services International Profit Sharing Plan (CSIPSP) agreed to contribute $30,000 as paid in capital to DVOP, the entire amount of which was contributed to DVOP in January 2008.  In consideration for the capital contribution, in October 2007 DVOP issued to CSIPSP 225,000,000 shares of its common stock (pre split, 9,000,000 post-split) representing approximately 97.83% of its common stock outstanding on that date.  CSIPSP is an entity, for which Mr. Anthony is beneficiary.  Moreover, from April 2007 through January 2008, Corporate Services International (a related entity employing Mr. Anthony) lent DVOP $5,371, which funds were used to pay ongoing administrative expenses.  On July 30, 2007, the Company through a series of transactions effectively reincorporated in the state of Delaware, while retaining the capital structure and number of shares outstanding of the previous California corporation.  On January 14, 2008, the Company officially changed its name to Diversified Opportunities, Inc.  On February 11, 2008, DVOP enacted a reverse split of its common stock on a 1:25 basis and concurrently increased its authorized capital stock to 310,000,000 shares comprised of 300,000,000 shares of common stock, $.001 par value and 10,000,000 shares of blank check preferred stock, $.001 par value. The shareholders of DVOP approved the amendment to the Articles of Incorporation to bring about the name change, reverse split, and increase its authorized capital stock, by consent.  Effective May 30, 2008, pursuant to the terms of a Stock Purchase Agreement dated May 16, 2008 (the Purchase Agreement) by and between QRSciences Holdings Limited, an Australian corporation (QRSciences) and CSIPSP, QRSciences purchased all of CSIPSPs 9,000,000 shares of DVOP common stock (Common Stock) in exchange for the payment of $650,000 by QRSciences to CSIPSP. The 9,000,000 shares of DVOP common stock constitute 97.83% of the 9,199,192 shares of Company common stock outstanding as of the date of this report.  This purchase of CSIPSPs shares by QRSciences resulted in a change of control.  Prior to the closing under the Purchase Agreement, CSIPSP owned 97.83% of the DVOPs outstanding common stock. After the closing under the Purchase Agreement, QRSciences owns 97.83% of DVOPs outstanding common stock.  The Purchase Agreement required as a condition of closing that Michael Anthony, the sole shareholder and beneficiary of CSIPSP, appoint Kevin Russeth to the Companys board of directors and that Mr. Anthony resign his position as a director and executive officer of the Company effective as of May 30, 2008.  Mr. Russeth also was appointed the Chief Executive Officer, Chief Financial Officer and Secretary of DVOP, effective the same date.  There are no other arrangements or understandings among the former and new control group or their associates with respect to election of directors or other matters.   2   On July 29, 2008, we entered into a share exchange agreement (the Share Exchange Agreement) with QRSciences.  Under the terms of the Share Exchange Agreement, at the closing we were to acquire the business of QRSciencess wholly-owned subsidiary, QRSciences Pty Ltd, an Australian private corporation (QRS Pty) through an acquisition of all of its outstanding stock. In exchange, at the closing we were to (i) issue, in the aggregate, that number of shares of common stock of DVOP equal to Ten Million Dollars ($10,000,000) (as this value is determined by the terms of the Share Exchange Agreement) (the Company Shares), and (ii) pay one million dollars ($1,000,000) cash to QRSciences.  On November 25, 2008, the Company and QRSciences mutually agreed to terminate the Share Exchange Agreement.  The parties believed that the capital market conditions at that date (including the lack of availability of capital at an acceptable cost required to satisfy the financial requirements of the Share Exchange Agreement) would have prevented the parties from being able to complete the transactions contemplated in the Exchange Agreement.  Effective as of July 29, 2008, our Company also entered into a Loan Agreement with QRSciences, which agreement was subsequently amended on November 25, 2008.  The Loan Agreement provides that the Company may borrow up to $500,000 from QRSciences, provided the purposes of the requested funds are approved by QRSciences.  The amount borrowed by the Company under the Loan Agreement accrues interest at 8% and is due and payable on or before June 30, 2009, or as so agreed by the parties.  The balance of the amounts due to QRSciences under the Loan Agreement as of the date of this Quarterly Report total $114,511.  Current Business  As of the date of this report, our Companys ongoing operations consist primarily of expenditures to maintain our Company in compliance with SEC regulations, accounting and auditing expenditures.    Item 1A  Risk Factors Investment in our common stock involves a high degree of risk. You should carefully consider the risks described below together with all of the other information included in this herein before making an investment decision.  If any of the following risks actually occur, our business, financial condition or results of operations could suffer. In that case, the market price of our common stock could decline, and you may lose all or part of your investment.  Risks Related to Our Business  We have no operating history and no current business operations.We do not currently have any business operations other than maintaining our public company status.   A substantial majority (9,000,000 shares) of the total shares of our 9,199,192 shares of common stock outstanding as of the date of this report are owned and held by QRSciences.  Because we have no operating history and no current business, our historical financial information is not a reliable indicator of future performance. Therefore, it is difficult to evaluate the business and prospects of our Company.  Failure to correctly evaluate our Companys prospects could result in an investors loss of a significant portion or all of his investment in our Company.  We continue to be without any business operations.Our Company at present does not have any business operations.  Accordingly, we lack at present the capacity to generate future income and positive cash flows.  Continued losses by our Company could result in an investors loss of a significant portion or all of his investment in our Company.  Our failure to obtain additional adequate financing would materially and adversely affect our business.We do not currently have any revenues to cover our operating expenses and we are not profitable.  We are currently dependent on QRSciences to fund the operating and working capital needs of our Company. If QRSciences decides to discontinue funding our Company and we cannot continue operations, an investor could suffer the loss of a significant portion or all of his investment in our Company.  Financial Risks  Our financial statements have been prepared assuming that the Company will continue as a going concern. We currently project that our cash on hand and existing commitments for additional investment under the loan agreement from QRSciences will be sufficient to maintain our Companys operations beyond one year from the date of this annual report, however there can be no assurance that QRSciences will not decide to terminate funding our Company.  Our financial statements do not include any adjustments that might result from this uncertainty. If we cannot obtain additional capital on acceptable terms, we will need to cease operations and an investor could suffer the loss of a significant portion or all of his investment in our Company. We do not expect to pay dividends for the foreseeable future, and we may never pay dividends and, consequently, the only opportunity for investors to achieve a return on their investment is if a trading market develops and investors are able to sell their shares for a profit or if our business is sold at a price that enables investors to recognize a profit.We currently intend to retain any future earnings to support our business and do not anticipate paying cash dividends for the foreseeable future. Our payment of any future dividends will be at the discretion of our Board of Directors after taking into account various factors, including but not limited to our financial condition, operating results, cash needs, growth plans and the terms of any credit agreements that we may be a party to at the time. In addition, our ability to pay dividends on our common stock may be limited by state law. Accordingly, we cannot assure investors any return on their investment, other than in connection with a sale of their shares or a sale of our business. At the present time there is a limited trading market for our shares. Therefore, holders of our securities may be unable to sell them. We cannot assure investors that an active trading market will develop or that any third party will offer to purchase our business on acceptable terms and at a price that would enable our investors to recognize a profit.  Our net operating loss carry-forward will be limited.  We have recorded a valuation allowance amounting to our entire net deferred tax asset balance due to our lack of a history of earnings, possible limitations on the use of tax loss carry-forwards and the future expiration of the NOL.  This gives rise to uncertainty as to whether our deferred tax asset is realizable.  Internal Revenue Code Section 382 and similar California rules place a limitation on the amount of taxable income that can be offset by carry-forwards after a change in control (generally greater than a 50% change in ownership).  Our inability to use our Companys historical NOL, or the full amount of the NOL, would limit our ability to offset any future tax liabilities with its NOL.  Corporate and Other Risks  Limitations on director and officer liability and indemnification of our officers and directors by us may discourage stockholders from bringing suit against an officer or director. Our Companys articles of incorporation and bylaws provide, with certain exceptions as permitted by governing state law, that a director or officer shall not be personally liable to us or our stockholders for breach of fiduciary duty as a director, except for acts or omissions which involve intentional misconduct, fraud or knowing violation of law, or unlawful payments of dividends. These provisions may discourage stockholders from bringing suit against a director for breach of fiduciary duty and may reduce the likelihood of derivative litigation brought by stockholders on our behalf against a director.  We are responsible for the indemnification of our officers and directors. Should our officers and/or directors require us to contribute to their defense, we may be required to spend significant amounts of our capital.Our articles of incorporation and bylaws also provide for the indemnification of our directors, officers, employees, and agents, under certain circumstances, against attorney's fees and other expenses incurred by them in any litigation to which they become a party arising from their association with or activities on behalf of our Company. This indemnification policy could result in substantial expenditures, which we may be unable to recoup. If these expenditures are significant, or involve issues which result in significant liability for our key personnel, we may incur expenses that would render us unable to continue operating as a going concern.  3    QRSciences and its affiliates, directors and employees beneficially own and control a substantially all of our outstanding common stock, which may limit your ability and the ability of our other stockholders, whether acting alone or together, to propose or direct the management or overall direction of our Company. Additionally, this concentration of ownership could discourage or prevent a potential takeover of our Company that might otherwise result in you receiving a premium over the market price for your shares. A substantial portion of our outstanding shares of common stock is beneficially owned and controlled by a group of insiders, including our directors and executive officers. Accordingly, any of our existing outside principal stockholders together with our directors, executive officers and insider shareholders would have the power to control the election of our directors and the approval of actions for which the approval of our stockholders is required. If you acquire shares of our common stock, you may have no effective voice in the management of our Company.  Such concentrated control of our Company may adversely affect the price of our common stock. Our principal stockholders may be able to control matters requiring approval by our stockholders, including the election of directors, mergers or other business combinations. Such concentrated control may also make it difficult for our stockholders to receive a premium for their shares of our common stock in the event we merge with a third party or enter into different transactions which require stockholder approval. These provisions could also limit the price that investors might be willing to pay in the future for shares of our common stock.  The requirements in connection with being a public company may put us at a competitive disadvantage. The complexity of operating in a public company environment could impair our ability to comply with legal and regulatory requirements such as those imposed by Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley Act).  We may not be able to implement programs and policies in an effective and timely manner that adequately responds to the increased legal, regulatory compliance and reporting requirements associated with being a public company. Our failure to do so could lead to the imposition of fines and penalties and distract us from attending to the growth of our business. Also, it may be time consuming, difficult and costly for us to develop and implement the internal controls and reporting procedures required by the Sarbanes-Oxley Act. We may need to hire additional financial reporting, internal controls and other finance staff in order to develop and implement appropriate internal controls and reporting procedures. If we are unable to comply with the internal controls requirements of the Sarbanes-Oxley Act, we may not be able to obtain the independent auditor certifications that the Sarbanes-Oxley Act will in the future require publicly-traded companies with our capitalization to obtain.  Our internal controls over financial reporting may not be effective, and our independent auditors may not be able to certify as to their effectiveness, which could have a significant and adverse effect on our business. We are subject to various regulatory requirements, including the Sarbanes-Oxley Act. We, like all other public companies, must incur additional expenses and the diversion of our managements time in our efforts to comply with Section 404 of the Sarbanes-Oxley Act regarding internal controls over financial reporting. While we have evaluated our internal controls over financial reporting and concluded they are effective given our current level of activity, there is no assurance that if the scope of our operations change, that such controls will remain effective.  Furthermore, in the future our independent auditor(s) may be unable to attest to our conclusion concerning the effectiveness of our internal controls over financial reporting, as required (or as will be required) by Section 404 of the Sarbanes-Oxley Act and the rules and regulations of the SEC (collectively referred to as Section 404).  The ongoing requirements of Section 404 may unduly divert managements time and resources from executing our future business plans.  If in the future, management identifies one or more material weaknesses or our external auditors are unable to attest that our managements report is fairly stated or to express an opinion on the effectiveness of our internal controls, this could result in a loss of investor confidence in our financial reports, have an adverse effect on our stock price and/or subject us to sanctions or investigation by regulatory authorities.  Capital Market Risks  Our common stock is thinly traded, so you may be unable to sell at or near ask prices or at all if you need to sell your shares to raise money or otherwise desire to liquidate your shares. There is limited market activity in our stock (especially given our current status as a shell company) and we lack the qualities to attract the interest of many brokerage firms and analysts. We cannot give you any assurance that in the future a broader or more active public trading market for our common stock will develop or be sustained. While we are trading on the OTC Bulletin Board, the trading volume we will develop may be limited by the fact that many major institutional investment funds, including mutual funds, as well as individual investors follow a policy of not investing in Bulletin Board stocks and certain major brokerage firms restrict their brokers from recommending Bulletin Board stocks because they are considered speculative, volatile, thinly traded and the market price of the common stock may not accurately reflect the underlying value of our Company.  The market price of our common stock could be subject to wide fluctuations in response to quarterly variations in our revenues and operating expenses, announcements of new products or services by us, significant sales of our common stock, including short sales, the operating and stock price performance of other companies that investors may deem comparable to us, and news reports relating to trends in our markets or general economic conditions.  The application of the penny stock rules to our common stock could limit the trading and liquidity of the common stock, adversely affect the market price of our common stock and increase your transaction costs to sell those shares.  As long as the trading price of our common stock is below $5 per share, the open-market trading of our common stock will be subject to the penny stock rules, unless we otherwise qualify for an exemption from the penny stock definition. The penny stock rules impose additional sales practice requirements on certain broker-dealers who sell securities to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 together with their spouse). These regulations, if they apply, require the delivery, prior to any transaction involving a penny stock, of a disclosure schedule explaining the penny stock market and the associated risks. Under these regulations, certain brokers who recommend such securities to persons other than established customers or certain accredited investors must make a special written suitability determination regarding such a purchaser and receive such purchasers written agreement to a transaction prior to sale. These regulations may have the effect of limiting the trading activity of our common stock, reducing the liquidity of an investment in our common stock and increasing the transaction costs for sales and purchases of our common stock as compared to other securities.  The stock market in general and the market prices for penny stock companies in particular, have experienced volatility that often has been unrelated to the operating performance of such companies. These broad market and industry fluctuations may adversely affect the price of our stock, regardless of our operating performance.  Stockholders should be aware that, according to SEC Release No. 34-29093, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. Such patterns include (1) control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; (2) manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; (3) boiler room practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons; (4) excessive and undisclosed bid-ask differential and markups by selling broker-dealers; and (5) the wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, along with the resulting inevitable collapse of those prices and with consequent investor losses. The occurrence of these patterns or practices could increase the volatility of our share price.  4    We may not be able to attract the attention of major brokerage firms, which could have a material adverse impact on the market value of our common stock.Security analysts of major brokerage firms may not provide coverage of our common stock since there is no incentive to brokerage firms to recommend the purchase of our common stock. The absence of such coverage limits the likelihood that an active market will develop for our common stock. It will also likely make it more difficult to attract new investors at times when we require additional capital.  We may be unable to list our common stock on NASDAQ or on any securities exchange.Although we may apply to list our common stock on NASDAQ or the American Stock Exchange in the future, we cannot assure you that we will be able to meet the initial listing standards, including the minimum per share price and minimum capitalization requirements, or that we will be able to maintain a listing of our common stock on either of those or any other trading venue. Until such time as we qualify for listing on NASDAQ, the American Stock Exchange or another trading venue, our common stock will continue to trade on the OTC Bulletin Board or another over-the-counter quotation system, or on the pink sheets, where an investor may find it more difficult to dispose of shares or obtain accurate quotations as to the market value of our common stock. In addition, rules promulgated by the SEC impose various practice requirements on broker-dealers who sell securities that fail to meet certain criteria set forth in those rules to persons other than established customers and accredited investors.  Consequently, these rules may deter broker-dealers from recommending or selling our common stock, which may further affect the liquidity of our common stock. It would also make it more difficult for us to raise additional capital.  Future sales of our equity securities could put downward selling pressure on our securities, and adversely affect the stock price.There is a risk that this downward pressure may make it impossible for an investor to sell his or her securities at any reasonable price, if at all. Future sales of substantial amounts of our equity securities in the public market, or the perception that such sales could occur, could put downward selling pressure on our securities, and adversely affect the market price of our common stock.  Item 1B  Unresolved Staff Comments  None.   Item 2  Description of Property  Our corporate offices and books of record are maintained at 10907 Technology Place, San Diego California 92127, where QRSciences subleases office space on a month-to-month basis.  We currently have no outstanding leases or commitments to lease property.   Item 3  Legal Proceedings On September 13, 2001, our Company filed a voluntary petition under Chapter 7, in the U.S. Bankruptcy Court, Northern District of California.  On November 2, 2004, the Trustee filed its Report of Distribution and on January 4, 2005 a final decree was entered and the case was closed.  From time to time and in the course of business, we may become involved in various other legal proceedings seeking monetary damages and other relief.  The amount of the ultimate liability, if any, from such future claims cannot be determined at this time.  However, in the opinion of our management, there are no legal claims currently pending or threatened against us that would be likely to have a material adverse effect on our financial position, results of operations or cash flows.   Item 4  Submission of Matters to a Vote of Security Holders None. Part II  Item 5  Market for Common Stock and Related Stockholder Matters Our common stock began trading publicly on the OTC Bulletin Board under the symbol DVOP on May 8, 2008.  Previously, our Company's common stock traded on the "Pink Sheets" under the symbol DVOP.  Such trading of our common stock was limited and sporadic. To the best knowledge of our Company, there was no active trading activity prior to our trading on the OTC Bulletin Board.  The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in over-the-counter equity securities.  The OTC Bulletin Board securities are traded by a community of market makers that enter quotes and trade reports.  This market is extremely limited and any prices quoted may not be a reliable indication of the value of our common stock.  The following table sets forth the high and low bid prices per share of our common stock by both the OTC Bulletin Board and the Pink Sheets for the periods indicated as reported on the OTC Bulletin Board. For the year ended June 30, 2009HighLowFourth Quarter$0.15$0.01Third Quarter$0.51$0.15Second Quarter$0.55$0.25First Quarter$0.84$0.10  5    For the year ended June 30, 2008HighLowFourth Quarter$0.85$0.10Third Quarter$0.30$0.10Second Quarter$0.60$0.12First Quarter$0.44$0.04  The prices in the table above have been adjusted for the stock splits to date.  For the period while our shares traded on the OTC Bulletin Board, the quotes represent inter-dealer prices, without adjustment for retail mark-up, markdown or commission and may not represent actual transactions.  The trading volume of our securities fluctuates and may be limited during certain periods.  As a result of these volume fluctuations, the liquidity of an investment in our securities may be adversely affected.  At the time of filing of this Annual Report on Form 10-K, there is no common stock that is subject to outstanding options or warrants to purchase or securities convertible into, common equity of the Company. Effective as of February 2008, the SEC adopted new rules relating to the sale of restricted securities under Rule 144 of the Securities Act of 1933, as amended, with respect to the resale of such securities by shareholders of a shell company such as the Company.  The new rules provide that shareholders of a shell company are not eligible to sell under Rule 144 unless the company (i) is subject to the reporting requirements of section 13 or 15(d) of the Exchange Act; (ii) has filed all reports and other materials required to be filed by section 13 or 15(d) of the Exchange Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and (iii) has filed current Form 10 information with the SEC reflecting that it is no longer a shell company and one year has elapsed from the date of that filing.  The Company does not meet all of these requirements and shareholders of the Company are therefore not currently eligible to sell their shares under Rule 144. The ability of individual shareholders to trade their shares in a particular state may be subject to various rules and regulations of that state.  A number of states require that an issuer's securities be registered in their state or appropriately exempted from registration before the securities are permitted to trade in that state. Holders of Record  As of July 30, 2009, 9,199,192 shares of our common stock were issued and outstanding.  Transfer Agent  Our transfer agent is Island Stock Transfer, St. Petersburg, Florida; telephone (727) 289-0010.  Dividends  We have never declared or paid any cash dividends on our common stock.  For the foreseeable future, we intend to retain any earnings to finance the development and expansion of our business, and we do not anticipate paying any cash dividends on our common stock.  Any future determination to pay dividends will be at the discretion of our Board of Directors.  Securities Authorized for Issuance under Equity Compensation Plans At present, our Company has no Equity Compensation Plans.  Recent Sales of Unregistered Securities None.  6   We plan to raise additional equity financing to finance future financing, investing and working capital needs. Item 6  Selected Financial Data Disclosure not required as a result of our Companys status as a smaller reporting company.  Item 7 - Managements Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis is intended as a review of significant factors affecting our financial condition and results of operations for the periods indicated.  The discussion should be read in conjunction with our consolidated financial statements and the notes presented herein.  In addition to historical information, the following Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Our actual results could differ significantly from those anticipated in these forward-looking statements as a result of certain factors discussed in this prospectus.  See SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS above.  Overview and Financial Results As described above, effective May 30, 2008, 9,000,000 shares of our Companys 9,199,192 shares of common stock were purchased by QRSciences.  During all periods included in this Annual Report, our Company has not had any significant operations.  As of the date of this report, our Companys ongoing operations have and will consist primarily of expenditures to maintain our Company in compliance with Securities and Exchange Commission regulations, accounting and auditing expenditures as well as expenditures for investor relations activities. We had no revenues in either the year ended June 30, 2009 or the six months ended June 30, 2008.  Our operating expenses for the year ended June 30, 2009 totaled $111,809 while operating expenses for the six months ended June 30, 2008 totaled $86,758 (including a $62,500 charge for 208,333 shares of common stock to be issued in connection with finders fees).  All of our operating expenses were general and administrative expenses.  Additionally during the year ended June 30, 2009, we incurred interest expense on borrowings from QRSciences totaling $5,621.  Our net loss for the year ended June 30, 2009 totaled $117,430 compared to a net loss of $86,758 for the six months ended June 30, 2008.  Our loss per share was $0.01 for both the year ended June 30, 2009 and the six months ended June 30, 2008.  Liquidity and Capital Resources  With no revenues or gross margin, our Company is currently dependent for funding of its continued operations on the holder of 97.83% of the outstanding shares of its common stock, QRSciences (with whom it has an agreement for continued funding).  While QRSciences has indicated a continuing willingness to fund the capital needs of our Company, there can be no assurance that they will not discontinue our funding at some date in the future.  Our sole asset as of June 30, 2009 was a cash balance of $4,072 in a single bank account.  Our liabilities at June 30, 2009 totaled $190,577 (all current) and consisted of accruals for professional services rendered on our behalf through that date ($13,566), amounts due to QRSciences ($114,511) and a liability for finders fees to be satisfied with the future issuance of 208,333 shares of our common stock ($62,500).  Our shareholders deficit totaled $186,505 at June 30, 2009 and included an accumulated deficit of $238,704 that reflects net losses incurred from September 14, 2001 through June 30, 2009 (see also discussion of Fresh Start accounting in the notes to our financial statements included herein).  Plan of Operations  During the next twelve months, our Company has no definite plans to purchase or sell any plant or significant equipment.  We currently have no employees as of that date of this Annual Report.  Critical Accounting Policies Involving Management Estimates and Assumptions Our discussion and analysis of our financial condition and results of operations is based on our financial statements.  In preparing our financial statements in conformity with accounting principles generally accepted in the United States of America, we must make a variety of estimates that affect the reported amounts and related disclosures.  Such significant accounting policies are described as follows.  If actual results differ significantly from our estimates and projections, there could be a material effect on our financial statements. Revenue Recognition. Any future revenues will be recognized on the accrual basis of accounting when earned.  We will recognize revenue for products sold at the time that product has been shipped, the selling price is fixed, collection is reasonably assured and when both title and risk of loss transfer to the customer, provided no significant obligations remain.  We will recognize revenues from the provision of services at the time they are rendered, the selling price is fixed and collection is reasonably assured, provided no significant obligations remain.  The SEC's Staff Accounting Bulletin (SAB) No. 104, Revenue Recognition, provides guidance on the application of generally accepted accounting principles to selected revenue recognition issues.  We believe that our revenue recognition policy is appropriate and in accordance with generally accepted accounting principles and SAB No. 104. Stock Based Compensation.  We will account for employee stock-based compensation costs in accordance with Statement of Financial Accounting Standards (SFAS), No. 123R, Share-Based Payment, which requires all share-based payments to employees, including grants of employee stock options, to be recognized in our statements of operations based on their fair values.  We expect to utilize the Black-Scholes option pricing model to estimate the fair value of employee stock based compensation at the date of grant, which requires the input of highly subjective assumptions, including expected volatility and expected life.  Changes in these inputs and assumptions can materially affect the measure of estimated fair value of our stock based compensation. Use of Estimates.  The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates. Deferred Tax Valuation Allowance.  Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  Valuation allowances are established when necessary to reduce deferred tax assets to the amount more likely than not to be realized.  Income tax expense is the total of tax payable for the period and the change during the period in deferred tax assets and liabilities. Fair Value AccountingOn July 1, 2008, we adopted Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157) (as amended by FSP No. 157-2), which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements.  SFAS 157 does not require any new fair value measurements, and has been partially deferred for non-financial assets and non-financial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually), until our fiscal year beginning July 1, 2009, and interim periods within those fiscal years. The partial adoption of SFAS 157 for financial assets and liabilities did not have a material impact on our consolidated financial position, results of operations or cash flows.  In addition, on July 1, 2008, we adopted Statement of Financial Accounting Standards No. 159,The Fair Value Option for Financial Assets and Financial Liabilities(SFAS 159).  Under SFAS 159, companies may elect to measure certain financial instruments and certain other items at fair value.  The standard requires that unrealized gains and losses on items for which the fair value option has been elected be reported in earnings.  We did not elect to use the fair value option.  Therefore, the adoption of SFAS 159 did not impact our consolidated financial position, results of operations or cash flows.  Recently Issued Accounting Pronouncements  In December 2007, the FASB issued SFAS No. 141 (revised 2007), Business Combinations (SFAS 141R).  The new standard is a revision of previous guidance with respect to the proper accounting for business combinations.  SFAS 141R will be effective for our fiscal year beginning July 1, 2009 and early adoption is not permitted.  Management does not believe that SFAS 141R will have a material effect on our Companys financial statements.  In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statementsan amendment of ARB No. 51 (SFAS 160).  The new standard establishes a single method of accounting for changes in a parents ownership interest in a subsidiary that do not result in deconsolidation.  SFAS 160 will be effective for our fiscal year beginning July 1, 2009 and early adoption is not permitted.  Management does not believe that SFAS 160 will have a material effect on our Companys financial statements.  In April 2008, the FASB issued EITF 07-05, Determining whether an Instrument (or Embedded Feature) Is Indexed to an Entity's Own Stock, (EITF 07-05).  EITF 07-05 provides guidance on determining what types of instruments or embedded features in an instrument held by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in paragraph 11(a) of SFAS 133.  EITF 07-05 will be effective for our fiscal year beginning July 1, 2009 and early adoption is not permitted.  Management does not believe that EITF 07-05 will have a material effect on our Companys financial statements.  In May 2008, the FASB issued Staff Position (FSP) No. APB 144 or FSP 14-1, Accounting for Convertible Debt Instruments that may be Settled in Cash upon Conversion.  FSP 14-1 requires the issuers of certain convertible debt instruments that may be settled in cash (or other assets) on conversion to separately account for the liability (debt) and equity (conversion option) components of the instrument in a manner that reflects the issuers nonconvertible debt borrowing rate.  FSP 14-1 is effective for financial statements issued for fiscal years beginning after December 15, 2008 (our fiscal year beginning July 1, 2009), with early adoption prohibited.  FSP 14-1 is required to be applied retrospectively to all periods presented.  Management does not believe that FSP 14-1 will have a material effect on our Companys financial statements.  In June 2008, the FASB issued FASB Staff Position (FSP) Emerging Issues Task Force (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 clarifies that share-based payment awards that entitle their holders to receive non-forfeitable dividends or dividend equivalents before vesting should be considered participating securities.  Our Company does not have grants of restricted stock that contain non-forfeitable rights to dividends.  FSP EITF 03-6-1 is effective for fiscal years beginning after December 15, 2008 on a retrospective basis (our fiscal year beginning July 1, 2009). Management does not believe that FSP EITF 03-6-1 will have a material effect on our Companys financial statements.  In October 2008, the FASB issued FSP 157-3, Determining Fair Value of a Financial Asset in a Market That is Not Active (FSP 157-3).  FSP 157-3 classified the application of SFAS No. 157 in an inactive market.  It demonstrated how the fair value of a financial asset is determined when the market for that financial asset is inactive.  FSP 157-3 was effective upon issuance, including prior periods for which financial statements had not been issued.  The implementation of FSP 157-3 did not have a material effect on our Companys financial statements. Item 7A - Quantitative and Qualitative Disclosures About Market Risk Disclosure not required as a result of our Companys status as a smaller reporting company.  Off-Balance Sheet Arrangements We did not have any off-balance sheet arrangements at June 30, 2009 or 2008 nor during the years then ended.    7   Item 8  Financial Statements  Report of Independent Registered Public Accountant Balance Sheets at June 30, 2009 and 2008 Statements of Operations for the year and six months ended June 30, 2009 and 2008 Statements of Changes in Shareholders' Deficit for the year and six months ended June 30, 2009 and 2008 Statements of Cash Flows for the year and six months ended June 30, 2009 and 2008 Notes to Financial Statements  8   To the Board of Directors and Shareholders: Diversified Opportunities, Inc.  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANT    I have audited the accompanying balance sheets of Diversified Opportunities, Inc. as of June 30, 2009 and 2008 and the related statements of operations, stockholders' deficiency and cash flows for the year and six months then ended, respectively. These financial statements are the responsibility of the Companys management. My responsibility is to express an opinion on these financial statements based on my audits.  I conducted my audits in accordance with the standards of the Public Company Accounting Oversight Board (UNITED STATES). Those standards require that I 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 was I engaged to perform, an audit of its internal control over financial reporting. My 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, I express no such opinion. 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. I believe that my audits provide a reasonable basis for my opinion.  In my opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Diversified Opportunities, Inc. as of June 30, 2009 and 2008 and the results of its operations, its cash flows and changes in stockholders' deficiency for the year and the six months then ended, respectively, in conformity with accounting principles generally accepted in the United States.  The accompanying financial statements have been prepared assuming that Diversified Opportunities, Inc. will continue as a going concern. The Company had immaterial assets consisting entirely of cash at June 30, 2009 and, as discussed in the notes to the financial statements, is dependent on future additional funding in order to meet its obligations. These conditions raise substantial doubt about its ability to continue as a going concern.  Management's plans in regard to these matters are described in the notes to the financial statements.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.    /s/ Michael F. Cronin Michael F. Cronin, Certified Public Accountant Orlando, Florida July 27, 2009  9    DIVERSIFIED OPPORTUNITIES, INC.BALANCE SHEETSJune 30, 
2009June 30, 
2008ASSETSCash$4,072$-LIABILITIES AND SHAREHOLDERS DEFICITCurrent liabilities:Accounts payable and accrued liabilities, including $62,500 for common stock to be issued in connection with finders fees$76,066$69,075Amounts due to related parties114,511-Total current liabilities190,57769,075Shareholders deficit:Preferred stock; $0.001 par value; 10,000,000 shares authorized;
no shares issued or outstanding--Common stock; $0.001 par value; 300,000,000 shares authorized;
9,199,192 shares issued and outstanding9,1999,199Additional paid-in capital43,00043,000Accumulated deficit(238,704)(121,274)Total shareholders' deficit(186,505)(69,075)$4,072$-See accompanying notes.   10   DIVERSIFIED OPPORTUNITIES, INC. STATEMENTS OF OPERATIONS   Year ended June 30, 2009Six months ended June 30, 2008General and administrative expenses, including $62,500 during the year ended June 30, 2008 for common stock to be issued in connection with finders fees associated with the purchase of the Company by QRSciences$111,809$86,758Interest expense in connection with borrowings from QRSciences5,621-Net loss$(117,430)$(86,758)Basic and diluted net loss per share$(0.01)$(0.01)Basic and diluted weighted average common shares outstanding9,199,1929,199,192     11


DIVERSIFIED OPPORTUNITIES, INC. STATEMENTS OF STOCKHOLDERS DEFICIT  Common stockSharesAmountAdditional paid-in capitalSubscription receivableAccumulated deficitTotal stockholders deficitBalance at December 31, 20079,199,192$9,199$33,000$(30,000)$(34,516)$(22,317)Fair value of services provided by related party--10,000--10,000Receipt of subscription receivable---30,000-30,000Net loss----(86,758)(86,758)Balance at June 30, 20089,199,1929,19943,000-(121,274)(69,075)Net loss----(117,430)(117,430)Balance at June 30, 20099,199,192$9,199$43,000$-$(238,704)$(186,505)    12


DIVERSIFIED OPPORTUNITIES, INC. STATEMENTS OF CASH FLOWS  Year ended June 30, 2009Six Months ended June 30, 2008Cash flows from operating activities:Net loss$(117,430)$(86,758)Adjustments to reconcile net loss to cash flows from operating activities:Stock based charge for finders fees-62,500Fair value of services provided and expenses paid by related parties-10,000Changes in accounts payable and accrued expenses6,991(15,742)Changes in amounts due to related parties114,511-Cash flows from operating activities4,072(30,000)Cash flows from financing activities:Receipt of subscription receivable-30,000Change in cash4,072-Cash, beginning balance--Cash, ending balance$4,072$-


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Diversified Opportunities, Inc. Notes to Financial Statements   1. Basis of Presentation Diversified Opportunities, Inc. (hereinafter referred to as DVOP, we or the/our Company) was originally incorporated in California in 1986 and ceased all operations in 2001.  On July 30, 2007, our Company (through a series of transactions) effectively reincorporated in the state of Delaware, while retaining the capital structure and number of shares outstanding of the previous California corporation.  Our Company was formerly known as Enlighten Software Solutions, Inc. until we changed our name on January 14, 2008.  On July 29, 2008, our Company's Board of Directors approved a change in our Companys fiscal year end from December 31st to June 30th. On September 13, 2001, the Company filed voluntary Chapter 7 petitions under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California, San Francisco Division (case no. 01-32337).  As a result of the filing, all of our properties were transferred to a United States Trustee and we terminated all of our business operations. The Bankruptcy Trustee has disposed of all of the assets. On January 4, 2005 the Chapter 7 bankruptcy was closed. On February 11, 2008, DVOP enacted a reverse split of its common stock on a 1:25 basis and concurrently increased its authorized capital stock to 310,000,000 shares comprised of 300,000,000 shares of common stock, $.001 par value and 10,000,000 shares of blank check preferred stock, $.001 par value.  All share amounts herein reflect the share amounts from the reverse split. Our Company is controlled by QRSciences Holdings Limited, an Australian corporation (QRSciences) pursuant to the May 30, 2008 purchase by QRSciences of 9,000,000 shares of common stock from Corporate Services International Profit Sharing Plan (CSIPSP) for $650,000.  The 9,000,000 shares of DVOP common stock constitute 97.83% of the 9,199,192 shares of Company common stock outstanding as of June 30, 2008.  This purchase of CSIPSPs shares by QRSciences resulted in a change of control. Prior to the closing under the Purchase Agreement, CSIPSP owned 97.83% of the DVOPs outstanding common stock. After the closing under the Purchase Agreement, QRSciences owns 97.83% of the DVOPs outstanding common stock. On July 29, 2008, we entered into a share exchange agreement (the Share Exchange Agreement) with QRSciences.  Under the terms of the Share Exchange Agreement, at the closing we were to acquire the business of QRSciencess wholly-owned subsidiary, QRSciences Pty Ltd, an Australian private corporation (QRS Pty) through an acquisition of all of its outstanding stock. In exchange, at the closing we were to (i) issue, in the aggregate, that number of shares of common stock of DVOP equal to Ten Million Dollars ($10,000,000) (as this value is determined by the terms of the Share Exchange Agreement) (the Company Shares), and (ii) pay One Million Dollars ($1,000,000) cash to QRSciences. On November 25, 2008, the Company and QRSciences mutually agreed to terminate the Share Exchange Agreement.  The parties believed that the capital market conditions at that date (including the lack of availability of capital at an acceptable cost required to satisfy the financial requirements of the Share Exchange Agreement) would have prevented the parties from being able to complete the transactions contemplated in the Exchange Agreement. Effective as of July 29, 2008, our Company also entered into a Loan Agreement with QRSciences, which agreement was subsequently amended on November 25, 2008.  The Loan Agreement provides that the Company may borrow up to $500,000 from QRSciences, provided the purposes of the requested funds are approved by QRSciences.  The amount borrowed by the Company under the Loan Agreement accrues interest at 8% and is due and payable on or before June 30, 2009, or as so agreed by the parties.  The balance of the amounts due to QRSciences under the Loan Agreement as of June 30, 2009 total $114,511. Going concern Our financial statements have been prepared assuming that we will continue as a going concern.  While we currently project that our cash on hand and existing commitments for additional investment will be sufficient to maintain our Companys operations beyond one year from the date of this annual report, we are dependent on QRSciences to fund our on-going operations that include primarily general and administrative expenses required to maintain our Company compliant with the requirements of a fully reporting public company.  While we believe that QRSciences will continue to fund our operations for the foreseeable future, there is no requirement for QRSciences to maintain this funding. Our dependence on QRSciences for the maintenance of our operations raises a substantial doubt about our ability to continue as a going concern due to uncertainties that could arise should QRSciences decide to no longer continue funding our Company.  Our financial statements do not include any adjustments that might result from this uncertainty.  We believe at present that QRSciences will continue to fund our operations.  In the event of their discontinuation of funding our Company, our management could seek the capital we require from other sources.  However, there can be no assurance as to whether, when, or upon what terms we would be able to consummate any such financing.


14


Diversified Opportunities, Inc. Notes to Financial Statements   2. Summary of Significant Accounting Policies  Basis of Presentation  Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.  We adopted fresh-start accounting as of September 14, 2001 in accordance with the guidance specified by American Institute of Certified Public Accounts Statement of Position (SOP) 90-7, Financial Reporting by Entities in Reorganization under the Bankruptcy Code.  Our accumulated deficit for all periods presented reflects our losses to date since September 14, 2001 in accordance with SOP 90-7.  Use of Estimates  The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our 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.  Revenue Recognition  To the extent that we have revenues from the future sales of goods, they will be recognized when an order has been received, the product has been shipped, the selling price is fixed or determinable and collection is reasonably assured and when both title and risk of loss transfer to the customer, provided that no significant obligations remain.  To the extent that we have revenues from the provision of services, they will be recognized at the time services are rendered, their selling price is fixed or determinable and collection is reasonably assured, provided that no significant obligations remain. Sales revenues will not include sales taxes collected from the customer.  Cash and Cash Equivalents  Cash and cash equivalents include cash and investments that are readily convertible into cash and have original maturities of three months or less.  Property and Equipment  Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets.  Costs incurred for maintenance and repairs are expensed as incurred and expenditures for major replacements and improvements are capitalized and depreciated over their estimated remaining useful lives.  Intangible Assets  Intangible assets with finite lives are amortized over their estimated useful lives.  Intangible assets are reviewed for impairment whenever events or circumstances indicate impairment might exist in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-lived Assets.The projected undiscounted net cash flows expected to be derived from the use of those assets are compared to the respective net carrying amounts to determine whether any impairment exists.  Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Factors we consider important which could trigger an impairment review include: ·Significant under-performance relative to historical or projected future operating results; ·Significant changes in the manner of use of the acquired assets or the strategy for our Company’s overall business; and ·Significant negative industry or economic trends. Income Tax Expense Estimates and Policies  As part of the income tax provision process of preparing our financial statements, we are required to estimate our liabilities for income taxes.  This process involves estimating our current tax expenses together with assessing temporary differences resulting from differing treatments of items for tax and accounting purposes.  These differences result in deferred tax assets and liabilities.  Management then assesses the likelihood that our deferred tax assets will be recovered from future taxable income and to the extent


15


Diversified Opportunities, Inc. Notes to Financial Statements   believed that recovery is not likely, a valuation allowance is established.  Further, to the extent a valuation allowance is established and changes occur to this allowance in a financial accounting period, such changes are recognized in our tax provision in our consolidated statement of operations.  We use our judgment in making estimates to determine our provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets.  There are various factors that may cause these tax assumptions to change in the near term, and we may have to record a future valuation allowance against our deferred tax assets.  We recognize the benefit of an uncertain tax position taken or expected to be taken on our income tax returns if it is more likely than not that such tax position will be sustained based on its technical merits.  We account for uncertainties in income taxes in accordance with FIN 48, Accounting for Uncertainty in Income Taxes  an Interpretation of FASB No. 109 (FIN 48) which prescribes a recognition threshold and measurement process for recording in the financial statements uncertain tax positions taken or expected to be taken in a tax return.  Additionally, FIN 48 provides guidance on recognition, classification, accounting in interim periods and disclosure requirements for uncertain tax positions.  Share-Based Compensation  We account for share-based compensation arrangements in accordance with the provisions of Statement of Financial Accounting Standards No. 123R (SFAS 123R) Share-Based Payment, which requires the measurement and recognition of compensation expense for all share-based payment awards to employees and directors based on estimated fair values.  We use the Black-Scholes option valuation model to estimate the fair value of our stock options and warrants (currently none outstanding nor granted through June 30, 2009) at the date of grant.  The Black-Scholes option valuation model requires the input of subjective assumptions to calculate the value of stock options.  We use historical data among other information to estimate the expected price volatility, the expected option life and the expected forfeiture rate.  Financial Instruments  Our financial instruments are cash and cash equivalents, accounts receivable, accounts payable and notes payable. The recorded values of cash and cash equivalents, accounts receivable, and accounts payable approximate their fair values based on their short-term nature. The recorded values of notes payable approximate their fair values, as their interest rates approximate market interest rates.  Advertising  We expense advertising costs as incurred.  We have no existing arrangements under which we provide or receive advertising services from others for anything other than cash.  Net loss per share  Basic net loss per share is computed using the weighted average number of common shares outstanding during the period.  Diluted net loss per common share is computed using the weighted average number of common dilutive and dilutive equivalent shares outstanding during the period.  Dilutive common equivalent shares consist of options and warrants to purchase common stock (only if those options and warrants are exercisable at prices below the existing market price) and shares issuable upon the conversion of preferred stock.  We had no common equivalent shares outstanding during any period included herein and accordingly, dilutive loss per share was equivalent to basic loss per share.  All share and per share amounts have been restated for the effect of the 25 for 1 reverse stock split in February 2008.  Litigation  From time to time, we may become involved in disputes, litigation and other legal actions.  We estimate the range of liability related to pending litigation where the amount and range of loss can be estimated.  We record our best estimate of a loss when the loss is considered probable.  Where a liability is probable and there is a range of estimated loss with no best estimate in the range, we record a charge equal to at least the minimum estimated liability for a loss contingency when both of the following conditions are met: (i) information available prior to issuance of the financial statements indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial statements and (ii) the range of loss can be reasonably estimated.  Fair Value Accounting  On July 1, 2008, we adopted Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157) (as amended by FSP No. 157-2), which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements.  SFAS 157 does not require any new fair value measurements, and has been partially deferred for non-financial assets and non-financial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually), until our fiscal year beginning July 1, 2009, and interim periods within those fiscal years. The partial adoption of SFAS 157 for financial assets and liabilities did not have a material impact on our consolidated financial position, results of operations or cash flows.  In addition, on July 1, 2008, we adopted Statement of Financial Accounting Standards No. 159,The Fair Value Option for Financial Assets and Financial Liabilities(SFAS 159).  Under SFAS 159, companies may elect to measure certain financial instruments and certain other items at fair value.  The standard requires that unrealized gains and losses on items for which the fair value option has been elected be reported in earnings.  We did not elect to use the fair value option.  Therefore, the adoption of SFAS 159 did not impact our consolidated financial position, results of operations or cash flows.


16


Diversified Opportunities, Inc. Notes to Financial Statements   Recently Issued Accounting Pronouncements  In December 2007, the FASB issued SFAS No. 141 (revised 2007), Business Combinations (SFAS 141R).  The new standard is a revision of previous guidance with respect to the proper accounting for business combinations.  SFAS 141R will be effective for our fiscal year beginning July 1, 2009 and early adoption is not permitted.  Management does not believe that SFAS 141R will have a material effect on our Companys financial statements.  In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statementsan amendment of ARB No. 51 (SFAS 160).  The new standard establishes a single method of accounting for changes in a parents ownership interest in a subsidiary that do not result in deconsolidation.  SFAS 160 will be effective for our fiscal year beginning July 1, 2009 and early adoption is not permitted.  Management does not believe that SFAS 160 will have a material effect on our Companys financial statements.  In April 2008, the FASB issued EITF 07-05, Determining whether an Instrument (or Embedded Feature) Is Indexed to an Entity's Own Stock, (EITF 07-05).  EITF 07-05 provides guidance on determining what types of instruments or embedded features in an instrument held by a reporting entity can be considered indexed to its own stock for the purpose of evaluating the first criteria of the scope exception in paragraph 11(a) of SFAS 133.  EITF 07-05 will be effective for our fiscal year beginning after October 1, 2009 and early adoption is not permitted.  Management does not believe that EITF 07-05 will have a material effect on our Companys financial statements.  In May 2008, the FASB issued Staff Position (FSP) No. APB 144 or FSP 14-1, Accounting for Convertible Debt Instruments that may be Settled in Cash upon Conversion.  FSP 14-1 requires the issuers of certain convertible debt instruments that may be settled in cash (or other assets) on conversion to separately account for the liability (debt) and equity (conversion option) components of the instrument in a manner that reflects the issuers nonconvertible debt borrowing rate.  FSP 14-1 is effective for financial statements issued for fiscal years beginning after December 15, 2008, with early adoption prohibited.  FSP 14-1 is required to be applied retrospectively to all periods presented.  Management does not believe that FSP 14-1 will have a material effect on our Companys financial statements.  In June 2008, the FASB issued FASB Staff Position (FSP) Emerging Issues Task Force (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 clarifies that share-based payment awards that entitle their holders to receive non-forfeitable dividends or dividend equivalents before vesting should be considered participating securities.  Our Company does not have grants of restricted stock that contain non-forfeitable rights to dividends.  FSP EITF 03-6-1 is effective for fiscal years beginning after December 15, 2008 on a retrospective basis (our fiscal year beginning July 1, 2009). Management does not believe that FSP EITF 03-6-1 will have a material effect on our Companys financial statements.  In October 2008, the FASB issued FSP 157-3, Determining Fair Value of a Financial Asset in a Market That is Not Active (FSP 157-3).  FSP 157-3 classified the application of SFAS No. 157 in an inactive market.  It demonstrated how the fair value of a financial asset is determined when the market for that financial asset is inactive.  FSP 157-3 was effective upon issuance, including prior periods for which financial statements had not been issued.  The implementation of FSP 157-3 did not have a material effect on our Companys financial statements.  3. Fresh Start accounting On September 13, 2001, all of our Company's assets were transferred to the Chapter 7 trustee in settlement of all outstanding corporate obligations. We adopted fresh-start accounting as of September 14, 2001 in accordance with procedures specified by AICPA Statement of Position (SOP) No. 90-7, Financial Reporting by Entities in Reorganization under the Bankruptcy Code.  All results for periods subsequent to September 13, 2001 are referred to as those of the Successor Company. The Successor Company had no transactions between September 13, 2001 and the end of the reporting period, December 31, 2001 and was inactive in years 2002-2005.  In accordance with SOP No. 90-7, the reorganized value of our Company was allocated to the Company's assets based on procedures specified by SFAS No. 141, Business Combinations.  Each liability existing at the planned sale date, other than deferred taxes, was stated at the present value of the amounts to be paid at appropriate market rates.  It was determined that the Company's reorganization value computed immediately before September 14, 2001 was nothing.  The Company had been inactive since September 13, 2001. We adopted "fresh-start" accounting because holders of existing voting shares immediately before filing and confirmation received less than 50% of the voting shares of the emerging entity and its reorganization value is less than its post-petition liabilities and allowed claims.  4. Income taxes  We estimate that our net operating loss carryforwards incurred prior to May 30, 2008 that would be available to reduce future income taxes were significantly reduced or eliminated through our change of control in accordance with Internal Revenue Code Section 382 (Section 382) and similar California rules.  Our operating loss carry-forwards generated subsequent to May 30, 2008 total slightly in excess of $180,000 through June 30, 2009.  Our net operating loss carryforwards will be subject to expiration as to their future use beginning in 2023.  Also, Section 382 and similar California rules place limitations on the amount of taxable income that can be offset by net operating loss carryforwards (NOL) after a change in control (generally greater than a 50% change in ownership).  Future transactions such as sales of our preferred and/or common stock may be included in determining such a change in control.  Our deferred tax assets arise entirely as the result of our net operating loss carryforwards and at June 30, 2009 total approximately $70,000.  We have recorded a valuation allowance against our entire deferred tax asset balance due because we believe that a substantial doubt exists that we will be unable to realize the benefits of our net operating loss carryforwards due to our lack of a history of earnings and due to possible limitations under Section 382.  5. Stockholders equity  Reverse stock split On January 14, 2008, we declared a reverse split of our common stock. The formula provided that every twenty-five (25) issued and outstanding shares of common stock of the Corporation be automatically converted into one share of common stock.  Any resulting


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Diversified Opportunities, Inc. Notes to Financial Statements   share ownership interest of fractional shares was rounded up to the first whole integer in such a manner that all rounding was done to the next single share and each and every shareholder would own at least 1 share.  The reverse stock split was effective February 11, 2008 for holders of record at that date.  All share amounts included herein have been restated to give retroactive effect to this reverse split.  All per share disclosures retroactively reflect shares outstanding or issuable as though the reverse split had occurred on or before January 1, 2006. Common stock We are currently authorized to issue up to 300,000,000 shares of $0.001 par value common stock.  All issued shares of common stock are entitled to vote on a one share/one vote basis. On October 9, 2007, Corporate Services International Profit Sharing Plan agreed to contribute a total of $30,000 as paid in capital in exchange for 9,000,000 post-split shares of restricted common stock.  Our Company used these funds to pay the costs and expenses necessary to make our Company compliant with the requirements of a US public company.  Such expenses include fees to reinstate the corporate charter; payment of all past due franchise taxes; settling all past due accounts with the transfer agent; accounting and legal fees; costs associated with bringing current its filings with the Securities and Exchange Commission, as well as other related expenses.  In January 2008 the full subscription of $30,000 was received. Preferred stock We are currently authorized to issue up to 10,000,000 shares of $0.001 preferred stock.  On January 25, 2007, the Board of Directors approved the cancellation of all previously issued preferred shares and approved the cancellation and extinguishment of all common and preferred share conversion rights of any kind, including without limitation, warrants, options, convertible debt instruments and convertible preferred stock of every series and accompanying conversion rights of any kind. Stock options and warrants There are no employee or non-employee options grants outstanding.  There are no warrants outstanding to purchase any class of our capital stock. Future issuance of common stock In connection with finders fees incurred related to the purchase of 9,000,000 shares of our common stock by QRSciences, we agreed to the future issuance of 208,333 shares of our Common Stock to companies that provided the services.  At the date of the purchase by QRSciences (May 30, 2008), our stock had a closing market price of $0.30 per share.  Accordingly, we recorded a charge of $62,500 during the six months ended June 30, 2008 in connection with the future Common Stock issuance. 6. Related party transactions Through June 30, 2009, QRSciences has advanced to our Company funds for operating expenses and working capital requirements totaling $114,511, all of which remain unpaid through the date of this report.  Amounts advanced to our Company by QRSciences are pursuant to a loan agreement (as subsequently amended on November 25, 2008).  The agreement provides that the Company may borrow up to $500,000 from QRSciences, provided the purposes of the requested funds are approved by QRSciences.  Amounts borrowed by the Company under the agreement accrue interest at 8% and are due and payable on the future date so agreed by the parties.  Interest expense from borrowings from QRSciences totaled $5,621 for the year ended June 30, 2009.  Our principal stockholder and Chief Executive Officer prior to May 2008 was Michael Anthony.  Mr. Anthony provided unreimbursed services to our Company from January 2008 through June 30, 2008, valued at $9,000.  Mr. Anthony also provided without cost to the Company, office space valued at $1,000 for the six months ended June 30, 2008.  The total of these expenses for the six months ended June 30, 2008 was $10,000 and was included in the accompanying statements of operations as general and administrative expenses.  Legal services provided to the company by Laura Anthony (Mr. Anthony's spouse) through Legal & Compliance, LLC were valued at $10,678 and were forgiven prior to May 30, 2008.  Through January 2008, Corporate Services International (a related entity employing Michael Anthony) lent DVOP $5,371, which funds were used to pay ongoing administrative expenses. 7. Comparable period prior year information (unaudited)


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Diversified Opportunities, Inc. Notes to Financial Statements   On July 29, 2008, our Company's Board of Directors approved a change in our Companys fiscal year end from December 31st to June 30th.  We had the following results from operations for the twelve months ended June 30, 2008: general and administrative expenses and net loss - $116,743; net loss per share - $0.02; basic and diluted weighted average common shares outstanding  6,758,096, cash flows from operating activities - $(30,000).


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Item 9  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure None.  Item 9A  Controls and Procedures Evaluation of Disclosure Controls and Procedures.We conducted an evaluation under the supervision and with the participation of our management consisting of our Chief Executive Officer (who is also our acting principal financial officer) of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-15(b) of the Exchange Act. The term disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, means controls and other procedures of a company that are designed to ensure that information required to be disclosed by our Company in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SECs rules and forms. Disclosure controls and procedures also include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to our Companys management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure.  Based on this evaluation, our Chief Executive Officer has concluded that our disclosure controls and procedures were effective as of June 30, 2009.  Taken into consideration in this evaluation were the current size and scope of our operations, lack of transactions, financial activity and complexity. Managements Report on Internal Control over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is 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. Our internal control over financial reporting includes those policies and procedures that: 1.pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;2.provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with the authorization of our management and directors; and3.provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Management assessed the effectiveness of our internal control over financial reporting as of June 30, 2009. In making this assessment, management used the framework set forth in the report entitled Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission, or COSO. The COSO framework summarizes each of the components of a companys internal control system, including (i) the control environment, (ii) risk assessment, (iii) control activities, (iv) information and communication, and (v) monitoring.  Based on that assessment under such criteria, management concluded that the Companys internal control over financial reporting was effective as of June 30, 2009. Identified Material Weaknesses A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Companys annual or interim financial statements will not be prevented or detected on a timely basis.  Management did not identify internal control deficiencies which it deemed material weaknesses during its assessment of our internal control over financial reporting as of June 30, 2009.


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In conclusion, our Chief Executive Officer concluded that we maintained effective internal control over financial reporting as of June 30, 2009.  Our Company currently operates as a shell company (as defined in Rule 12b-2 of the Exchange Act) and accordingly its operations, volume and complexity of transactions is slight.  Managements conclusion concerning the effectiveness of our internal control over financial reporting as of June 30, 2009 was strongly influenced by our Companys current status as a shell company.  Managements Remediation Initiatives None at present. Management previously identified the specific remedial actions to address previously identified material weaknesses.  Those material weaknesses were identified as a lack of segregation of duties.  Since the time of our previous evaluation, we have contracted the services of an additional financial consultant to review our accounting and financial reporting.   We concluded that our previously identified material weaknesses were remedied sufficiently to allow our management to evaluate our internal control over financial reporting as effective as of June 30, 2009.  Due to its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Changes in Internal Controls over Financial Reporting During our fiscal fourth quarter ended on June 30, 2009, we reassigned duties among individuals that are responsible for our accounting and financial reporting.  The change included the increased use of an independent financial consultant with extensive experience in accounting and financial reporting to prepare our financial statements and coordinate our audit by our registered public accountant.  In our evaluation, this constituted a change in internal control over financial reporting that materially affected or is reasonably likely to materially affect our internal control over financial reporting in that it improved our internal control over financial reporting.  This allowed us to conclude that our internal control over financial reporting is effective as of June 30, 2009. Attestation Report of the Registered Public Accounting Firm This annual report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting. We were not required to have, nor have we, engaged our independent registered public accounting firm to perform an audit of internal control over financial reporting pursuant to the rules of the Commission that permit us to provide only managements report in this annual report.  Item 9B  Other Information None. Item 10  Directors and Executive Officers of the Registrant Our directors are elected by our shareholders to a term of one year and to serve until his successor is duly elected and qualified, or until his death, resignation or removal.  Each of our officers is appointed by our Board of Directors to a term of one year and serves until his successor is duly elected and qualified, or until his death, resignation or removal from office. The number of Directors is determined by resolution of our Board of Directors or by our stockholders at our annual meeting.  Our current Board of Directors consists of one Director who was elected to serve on our Board on May 30, 2008. Name Age Position  Kevin Russeth 49 President, Chief Executive Officer, Chief Financial Officer, Secretary and a Director of the Company  Mr. Kevin Russeth has been the Companys Chief Executive Officer, President, Chief Financial Officer and Secretary and a Director since May 30, 2008. Mr. Russeth has been the Managing Director of QRSciences Holdings Limited, a public company


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headquartered in Australia, since June 2002. He has been the Chief Executive Officer and Executive Director of QRSciences Holdings Limiteds subsidiary, QRSciences Pty Ltd since June 2002, and President of QRSciences Corp since March 2004. Mr. Russeth has been a director of Spectrum SDI since February 2006. Mr. Russeth acted as Executive Chairman and Chief Executive Officer of QRSciences Holdings Limited from June 2002 until December 2007. Prior to his tenure at QRSciences, Mr. Russeth spent several years in the financial services industry with E. F. Hutton, Shearson Lehman, Merrill Lynch, and Smith Barney.  Audit Committee Our entire Board of Directors serves as our Audit Committee.  Our sole member of our Board of Directors is not independent as defined by item 401(e) (ii) of regulation S-B. Code of Ethics The Company has adopted a Code of Business Ethics and Conduct (the Code) that applies to the every officer of and Director to the Company. The Code is attached an exhibit to this Annual Report. The Code is also available free of charge upon request to the Company at. 10907 Technology Place, San Diego, California 92127, Attn:  Kevin Russeth, CEO.  Section 16(a) Beneficial Ownership Reporting Compliance Section 16(a) of the Securities Exchange Act of 1934 requires our Companys directors and officers, and persons who own more than ten-percent (10%) of the companys common stock, to file with the Securities and Exchange Commission reports of ownership on Form 3 and reports of changes in ownership on Forms 4 and 5.  Such officers, directors and ten-percent stockholders are also required to furnish our Company with copies of all Section 16(a) reports they file.  Based solely on our review of the copies of such forms received by the company and on written representations from certain reporting persons, we believe that all Section 16(a) reports applicable to our officers, directors and ten-percent stockholders with respect to the fiscal year ended June 30, 2009 were filed.  Item 11 - Executive Compensation For the two years ended June 30, 2009, our executive officers have elected to forego all forms of compensation.  Executive compensation was determined through decisions undertaken by our Board of Directors.  Our Company does not have a formal Compensation Committee.  We expect that should our Company change its status as a shell company, our corporate policies with respect to compensation will be significantly upgraded and expanded.  The following table summarizes the compensation to the present and former officers and directors of the Company for the last two fiscal years.  Mr. Anthony resigned effective as of May 30, 2008, while Mr. Russeth was appointed to his positions within our Company on May 30, 2008.  SUMMARY COMPENSATION TABLE    Change in    Pension    Value and    Non-Qual.    Deferred    Stock Option Non-equity Compens. All Other  Salary Bonus Awards Awards Incentive Earnings Compensation(1) Total Position Period(1) ($) ($) ($) ($) Comp ($) ($) ($) ($)  Kevin Russeth 2009 0 0 0 0 0 0 0 0 2008 0 0 0 0 0 0 0 0 CEO/CFO/Secretary/Director  Michael Anthony 2008 0 0 0 0 0 0 0 0 CEO/Director/President/Secretary  (1)  Twelve months ended June 30, 2009 and 2008


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There were no option grants or exercises by any of the executive officers named in the Summary Compensation Table above.  The Company has no employment agreements.  Our current director is an employee of the Company and is not compensated in his capacity as director.   Item 12 - Security Ownership of Certain Beneficial Owners and Management As of July 30, 2009, we had 9,199,192 shares of common stock issued and outstanding.  The following table sets forth as of that date information regarding the beneficial ownership of our common stock with respect to (i) our officers and directors; (ii) by all directors and executive officers as a group; and (iii) all persons which the Company, pursuant to filings with the Securities and Exchange Commission (the SEC) and our stock transfer record by each person or group known by our management to own more than 5% of the outstanding shares of our common stock.  Under the rules of the Securities and Exchange Commission, a person (or group of persons) is deemed to be a beneficial owner of a security if he or she, directly or indirectly, has or shares the power to vote or to direct the voting of such security, or the power to dispose of or to direct the disposition of such security.  Accordingly, more than one person may be deemed to be a beneficial owner of the same security.  A person is also deemed to be a beneficial owner of any security, which that person has the right to acquire within sixty (60) days, such as warrants or options to purchase shares of our common stock.   Unless otherwise noted, each person has sole voting and investment power over the shares indicated below subject to applicable community property law.  Name and Address of Beneficial Owner (1)Amount and
Nature of Beneficial OwnershipPercentage
of Class
Beneficially
OwnedOfficers and DirectorsKevin Russeth15,000*5% StockholdersQRSciences Holdings Limited9,000,00097.83%8-10 Hamilton Street, Cannington, Western Australia 6109  * Less than 1% (1)  Unless otherwise noted, the address is c/o Diversified Opportunities, Inc. 10907 Technology Place, San Diego, California, 92127.


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Item 13 - Certain Relationships and Related Party Transactions Related Transactions.  Our Company closely reviews transactions between the Company and persons or entities considered to be related parties (collectively related parties).  Transactions of this nature require the approval of our management and our Board of Directors.  In the event of a transaction of a sufficiently material nature, our Companys policy is to solicit approval from our shareholders.  Since January 1, 2006, we have not had any transactions in which any of our related parties had or will have a direct or indirect material interest, nor are any such transactions currently proposed, except as noted below.  Through June 30, 2009, QRSciences has advanced to our Company funds for operating expenses and working capital requirements totaling $114,511, all of which remain unpaid through the date of this report.  Amounts advanced to our Company by QRSciences are pursuant to a loan agreement (as subsequently amended on November 25, 2008).  The agreement provides that the Company may borrow up to $500,000 from QRSciences, provided the purposes of the requested funds are approved by QRSciences. Amounts borrowed by the Company under the agreement accrue interest at 8% and are due and payable on the future date so agreed by the parties.  Interest expense from borrowings from QRSciences totaled $5,621 for the year ended June 30, 2009.  Through June 30, 2009, QRSciences has advanced to our Company funds for operating expenses and working capital requirements totaling $114,511, all of which remain unpaid through the date of this report.  Amounts advanced to our Company by QRSciences are pursuant to a loan agreement (as subsequently amended on November 25, 2008).  The agreement provides that the Company may borrow up to $500,000 from QRSciences, provided the purposes of the requested funds are approved by QRSciences. Amounts borrowed by the Company under the agreement accrue interest at 8% and are due and payable on the future date so agreed by the parties.  Interest expense from borrowings from QRSciences totaled $5,621 for the year ended June 30, 2009.  Our principal stockholder and Chief Executive Officer prior to May 2008 was Michael Anthony.  Mr. Anthony provided unreimbursed services to our Company from January 2008 through June 30, 2008, valued at $9,000.  Mr. Anthony also provided without cost to the Company, office space valued at $1,000 for the six months ended June 30, 2008.  The total of these expenses for the six months ended June 30, 2008 was $10,000 and was included in the accompanying statements of operations as general and administrative expenses.  Legal services provided to the company by Laura Anthony (Mr. Anthony's spouse) through Legal & Compliance, LLC were valued at $10,678 and were forgiven prior to May 30, 2008.  Through January 2008, Corporate Services International (a related entity employing Michael Anthony) lent DVOP $5,371, which funds were used to pay ongoing administrative expenses.  Parent Companies.  QRSciences Holdings Limited owns 97.83% of our Companys outstanding shares of common stock.  Director Independence.  Our sole member of our Board of Directors is not independent under the definition of independent director promulgated by the NASDAQ.  Item 14  Principal Accountant Fees and Services Principal Accountant Fees and Services (1)Audit Fees The aggregate fees billed for professional services rendered by the principal accountant for the audit of the registrant's annual financial statements and review of financial statements included in the registrant's Form 10-K or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for two years ended June 30, 2009 and 2008 were $4,450 and $4,000, respectively. (2)Audit-Related Fees There were no fees billed during the two years ended June 30, 2009 and 2008 for assurance and related services by the principal accountant that are reasonably related to the performance of the audit or review of the registrant's financial statements and are not reported under item (1). (3)Tax Fees No aggregate fees were billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning for two years ended June 30, 2009 and 2008. (4)All Other Fees No aggregate fees were billed for professional services provided by the principal accountant, other than the services reported in items (1) through (3) for the two years ended June 30, 2009 and 2008.


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(5)Audit Committee The Registrant's Audit Committee, or officer performing such functions of the Audit Committee, have approved the principal accountant's performance of services for the audit of the registrant's financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements f for two years ended June 30, 2009 and 2008.  Audit-related fees, tax fees, and all other fees, if any, were approved by the officers performing the functions of the Audit Committee. (6)Work Performance by others The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was less than 50 percent.


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Item 15  Exhibits Num. Description 31 Certification pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act, as amended, by Chief Executive Officer and principal financial officer (1) 32 Certification pursuant to 18 U.S.C. §1350 by Chief Executive Officer and principal financial officer (1)  (1) Filed as an Exhibit to this report.


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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.  Diversified Opportunities, Inc., a Delaware corporation  By: /s/ KEVIN RUSSETH Kevin Russeth, President, Chief Executive Officer, Chief Financial Officer, Director and Secretary July 30, 2009  Power of Attorney I, the undersigned director and officer of Diversified Opportunities, Inc. hereby severally constitute and appoint Kevin Russeth, acting individually, his true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments to this annual report, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. In accordance with the requirements of the Securities Act of 1934, this registration statement has been signed by the followings persons in the capacities and on the dates stated.  SignatureTitleDate/s/ KEVIN RUSSETH
Kevin RussethKevin Russeth, President, Chief Executive Officer, Chief Financial Officer, Director and Secretary (Principal Executive Officer)July 30, 2009


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