U.S.
        Securities and Exchange Commission
 Washington,
        D.C. 20549
  
  FORM
        10-Q
  
 [X]
              Quarterly
                  Report Under Section 13 or 15(d) of The Securities Exchange Act
                  of 1934
                  for the Quarterly Period Ended March 31,
                  2008
 
 [
                   ]
              Transition
                  Report Under Section 13 or 15(d) of The Securities Exchange Act
                  of 1934
                  for the Transition Period from _______ to
                  _______
 
 Commission
        File Number: 000-52670
  
 BMX
        DEVELOPMENT CORP.
 (FKA
        BIOMETRIX INTERNATIONAL, INC.)
 (Exact
        name of small business issuer as specified in its charter)
  
 FLORIDA
              20-2089854(State
                  or other jurisdiction of
              (IRS
                  Employer Identification No.)incorporation
                  or organization)
  17111
        Kenton Drive, Suite 100-B
 Cornelius,
        North Carolina
        28031
 (Address
        of principal executive offices)
 
 704-892-8733
 (Issuer's
        telephone number)
  
 Check
        whether the issuer (1) filed all reports required to be filed by Section
        13 or
        15(d) of the Exchange Act during the past 12 months (or for such shorter
        period
        that the registrant was required to file such reports), and (2) has been
        subject
        to such filing requirements for the past 90 days.
 Yes
                  [x]
              
              
              No
                  [ ]
 
 Indicate
        by check mark whether the registrant is a shell company (as defined in rule
        12b-2 of the exchange act). Yes [ ] No [X]
 
 Number
        of
        shares of common stock outstanding as of May 14, 2008:  
4,796,000
  Indicate
        by check mark whether the registrant is a large accelerated filer, an
        accelerated filer, a non-accelerated filer, or a smaller reporting company.
        See
        definitions of “large accelerated filer”, “accelerated filer” and “smaller
        reporting company” in Rule 12b-2 of the Exchange Act.
  Large
                  accelerated filer
               ̈Non-accelerated
                  filer
               ̈(Do
                  not check if a smaller reporting company)Accelerated
                  filer
               ̈Smaller
                  reporting company
              þ
  CAUTIONARY
        STATEMENT REGARDING FORWARD LOOKING INFORMATION
  The
        discussion contained in this 10-Q under the Securities Exchange Act of 1934,
        as
        amended, contains forward-looking statements that involve risks and
        uncertainties. The issuer's actual results could differ significantly from
        those
        discussed herein. These include statements about our expectations, beliefs,
        intentions or strategies for the future, which we indicate by words or phrases
        such as "anticipate," "expect," "intend," "plan," "will," "we believe," "the
        Company believes," "management believes" and similar language, including
        those
        set forth in the discussions under "Notes to Consolidated Financial Statements"
        and "Management's Discussion and Analysis or Plan of Operation" as well as
        those
        discussed elsewhere in this Form 10-Q. We base our forward-looking statements
        on
        information currently available to us, and we assume no obligation to update
        them. Statements contained in this Form 10-Q that are not historical facts
        are
        forward-looking statements that are subject to the "safe harbor" created
        by the
        Private Securities Litigation Reform Act of 1995.
 
 1
 
 TABLE
                  OF
                  CONTENTSPART
                  I. FINANCIAL INFORMATIONITEM
                  1.CONSOLIDATEDFINANCIAL
                  STATEMENTS
              3ITEM
                  2.MANAGEMENT'S
                  DISCUSSION AND
                  ANALYSIS OF CONSOLIDATED FINANCIAL CONDITION AND CONSOLIDATED RESULTS
                  OF
                  OPERATION
              11ITEM
                  3. QUANITATIVE AND QUALITATIVE DISCLOSURES
                  ABOUT MARKET RISK
              13ITEM
                  4.CONTROLS
                  AND
                  PROCEDURES
              13PART
                  II. OTHER INFORMATIONITEM
                  1.LEGAL
                  PROCEEDINGS
              13ITEM
                  1A. RISK FACTORS
              13ITEM
                  2. UNREGISTERED SALES OF EQUITY SECURITIES
                  AND USE OF PROCEEDS
              13ITEM
                  3.DEFAULTS
                  UPON SENIOR
                  SECURITIES
              13ITEM
                  4. SUBMISSION OF MATTERS TO A VOTE
                  OF
                  SECURITY HOLDERS
              13ITEM
                  5.OTHER
                  INFORMATION
              13ITEM
                  6.EXHIBITS
                  AND REPORTS ON FORM
                  8-K
              13SIGNATURES
              14INDEX
                  TO
                  EXHIBITS
              15
 2
 Table
            of Contents
 
 ITEM
        1. CONSOLIDATEDFINANCIAL
        STATEMENTS
  BMX
                  DEVELOPMENT
                  CORP.(FKA
                  BIOMETRIX INTERNATIONAL,
                  INC.)CONSOLIDATED
                  BALANCE
                  SHEETAS
                  OF MARCH 31,
                  2008ASSETSCURRENT
                  ASSETS:Cash
              
              $
              50,231TOTAL
                  CURRENT
                  ASSETS
              
              
              50,231FIXED
                  ASSETS:Machinery
                  and
                  equipment
              
              
              65,000Accumulated
                  depreciation
              
              
              (46,583
              )TOTAL
                  FIXED
                  ASSETS
              
              
              18,417TOTAL
                  ASSETS
              
              $
              68,648LIABILITIES
                  AND STOCKHOLDERS' EQUITYCURRENT
                  LIABILITIESAccounts
                  payable
              
              $
              278Due
                  to related
                  party
              
              
              5,000Current
                  portion of bank note
                  payable
              
              
              1,394TOTAL
                  CURRENT
                  LIABILITIES
              
              
              6,672LONG-TERM
                  LIABILITIESBank
                  note
                  payable
              
              
              5,404TOTAL
                  LONG-TERM
                  LIABILITIES
              
              
              5,404STOCKHOLDERS'
                  EQUITYCommon
                  stock ($.001 par value,
                  200,000,000 shares authorized; 4,796,000 sharesissued
                  and
                  outstanding)
              
              
              4,796Additional
                  paid in
                  capital
              
              
              165,048Retained
                  deficit
              
              
              (113,272
              )TOTAL
                  STOCKHOLDERS'
                  EQUITY
              
              
              56,572TOTAL
                  LIABILITIES AND
                  STOCKHOLDERS' EQUITY
              
              $
              68,648




3
 Table
            of Contents
  BMX
                    DEVELOPMENT CORP.(FKA
                    BIOMETRIX INTERNATIONAL,
                    INC.)CONSOLIDATED
                    STATEMENTS OF
                    OPERATIONSFOR
                    THE THREE MONTHS ENDED MARCH
                    31, 2008 AND 2007For
                    the Three
                    MonthsEnded
                    March
                    31,2008
                
                
                2007REVENUES:Sales
                
                $
                12,984
                
                
                $
                15,918Cost
                    of sales
                
                
                (5,196
                )
                
                
                (6,379
                )Gross
                    profit
                
                
                7,788
                
                
                
                9,539EXPENSES:Selling,
                    general and
                    administrative expenses
                
                
                16,700
                
                
                
                10,574Total
                    expenses
                
                
                16,700
                
                
                
                10,574Loss
                    from operations
                
                $
                (8,912
                )
                
                $
                (1,035
                )Interest
                    expense
                
                
                (610
                )
                
                
                (535
                )Loss
                    before income taxes
                
                
                (9,522
                )
                
                
                (1,570
                )Provision
                    for income taxes
                
                
                -
                
                
                
                -NET
                    LOSS
                
                $
                (9,522
                )
                
                $
                (1,570
                )Basic
                    and fully diluted net loss
                    per common share:
                
                $
                **
                
                
                $
                **Weighted
                    average common shares
                    outstanding
                
                
                4,796,000
                
                
                
                5,500,000**
                    Less than $.01
  4
 BMX
                    DEVELOPMENT
                    CORP.(FKA
                    BIOMETRIX INTERNATIONAL,
                    INC.)CONSOLIDATED
                    STATEMENT OF
                    STOCKHOLDERS' EQUITYFOR
                    THE THREE MONTHS ENDED MARCH
                    31, 2008AdditionalCommon
                    Stock
                
                
                Paid-in
                
                
                RetainedShares
                
                
                Amount
                
                
                Capital
                
                
                DeficitBalances,
                    January 1,
                    2008
                
                
                4,796,000
                
                
                $
                4,796
                
                
                $
                162,348
                
                
                $
                (103,750
                )Fair
                    value of rent contributed by
                    related party
                
                
                -
                
                
                
                -
                
                
                
                2,700
                
                
                
                -Net
                    loss for the three months
                    ended March 31, 2008
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (9,522
                )Balances,
                    March 31,
                    2008
                
                
                4,796,000
                
                
                $
                4,796
                
                
                $
                165,048
                
                
                $
                (113,272
                )
  5
 Table
            of Contents
  BMX
                    DEVELOPMENT
                    CORP.(FKA
                    BIOMETRIX INTERNATIONAL,
                    INC.)CONSOLIDATED
                    STATEMENTS OF CASH
                    FLOWSFOR
                    THE THREE MONTHS ENDED MARCH
                    31, 2008 and 20072008
                
                
                2007CASH
                    FLOWS FROM OPERATING ACTIVITIES:Net
                    loss
                
                $
                (9,522
                )
                
                $
                (1,570
                )Adjustments
                    to reconcile net loss
                    to net cash provided by(used
                    in)
                    operations:Depreciation
                
                
                3,250
                
                
                
                3,250Fair
                    value of rent contributed by related party
                
                
                2,700
                
                
                
                2,700Increase
                    (decrease) in operating
                    liabilitiesAccounts
                    payable
                
                
                (3,397
                )
                
                
                45NET
                    CASH PROVIDED BY (USED IN)
                    OPERATING ACTIVITIES
                
                
                (6,969
                )
                
                
                4,425CASH
                    FLOWS FROM FINANCING ACTIVITIES:Principal
                    repayments of bank note
                    payable
                
                
                (348
                )
                
                
                (230
                )NET
                    CASH (USED) IN FINANCING
                    ACTIVITIES
                
                
                (348
                )
                
                
                (230
                )NET
                    INCREASE (DECREASE) IN CASH
                    AND CASH EQUIVALENTS
                
                
                (7,317
                )
                
                
                4,195CASH
                    AND CASH
                    EQUIVALENTS,BEGINNING
                    OF THE
                    PERIOD
                
                
                57,548
                
                
                
                335END
                    OF THE
                    PERIOD
                
                $
                50,231
                
                
                $
                4,530
  6
 Table
            of Contents
  BMX
          DEVELOPMENT CORP. “FKA BIOMETRIX INTERNATIONAL, INC.”
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 For
            the
            Three Months Ended March 31, 2008 and 2007
 
 NOTE
          1   SUMMARY OF SIGNIFICANT
          ACCOUNTING POLICIES
  Business
          Activity
  BMX
          Development Corp., FKA Biometrix International Inc., (the “Company”) is a motor
          cycle repair service company located in the Charlotte, North Carolina area.
          The
          Company was certified as incorporated in the State of Florida officially
          on
          January 3, 2005 although the articles of incorporation were filed on December
          28, 2004. Accordingly, under Florida Statutes 607.0203, the effective date
          for
          corporate existence was December 28, 2004, within five business days of
          the
          certification thereto. On May 30, 2007, the Company legally changed its
          name to
          BMX Development Corp. to better suit the business in which it currently
          operates
          in.
  Basis
          of
          Presentation
  The
          consolidated financial statements include the accounts of BMX Development
          Corp.
          and its wholly owned subsidiary under the accrual basis of accounting.
          All
          intercompany accounts and transactions have been eliminated.
  Management’s
          Use of
          Estimates
  The
          preparation of consolidated financial statements in conformity with accounting
          principles generally accepted in the United States of America requires
          management to make estimates and assumptions that affect the reported amounts
          of
          assets and liabilities at the date of the consolidated financial statements
          and
          the reported amounts of revenues and expenses during the reporting periods.
          Actual results could differ from those estimates.
  Deferred
          Taxes
  Income
          taxes are provided in accordance with Statement of Financial Accounting
          Standards No. 109 (SFAS No. 109), “Accounting for Income
          Taxes.” A deferred tax asset or liability is recorded for all temporary
          differences between financial and tax reporting and net operating loss-carry
          forwards.
  Deferred
          tax assets are reduced by a valuation allowance when, in the opinion of
          management, it is more likely than not that, some portion or all of the
          deferred
          tax asset will not be realized. Deferred tax assets and liabilities are
          adjusted
          for the effect of changes in tax laws and rates on the date of
          enactment.
  Financial
          Instruments
  The
          Company’s consolidated financial instruments are cash and accounts payable. The
          recorded values of cash and accounts payable approximate their fair values
          based
          on their short-term nature.
  Cash
          and Cash
          Equivalents - For purposes of the Statement of Cash Flows, the Company
          considers highly liquid investments with an original maturity of three
          months or
          less to be cash equivalents.
  Revenue
          Recognition–
Revenue is recognized when repair services are completed provided
          collection of
          the resulting receivable is probable.
  Comprehensive
          Income
          (Loss) - The Company adopted Financial Accounting Standards Board
          Statement of Financial Accounting Standards No. 130, “Reporting Comprehensive
          Income”, which establishes standards for the reporting and display of
          comprehensive income and its components in the consolidated financial
          statements. There were no items of comprehensive income (loss) applicable
          to the
          Company during the period covered in the consolidated financial
          statements.
  Loss
          Per Share - The
          Company reports loss per share in accordance with Statement of Financial
          Accounting Standard (SFAS) No.128. This statement requires dual presentation
          of
          basic and diluted earnings (loss) with a reconciliation of the numerator
          and
          denominator of the loss per share computations. Basic earnings per share
          amounts
          are based on the weighted average shares of common outstanding. If applicable,
          diluted earnings per share would assume the conversion, exercise or issuance
          of
          all potential common stock instruments such as options, warrants and convertible
          securities, unless the effect is to reduce a loss or increase earnings
          per
          share. There were no adjustments required to consolidated net loss for
          the
          period presented in the computation of consolidated diluted earnings per
          share.
  Impairment
          of Long-Lived
          Assets -In accordance with SFAS No. 144, the Company reviews and
          evaluates its long-lived assets for impairment whenever events or changes
          in
          circumstances indicate that their net book value may not be recoverable.
          When
          such factors and circumstances exist, including those noted above, the
          Company
          compares the assets’ carrying amounts against the estimated undiscounted cash
          flows to be generated by those assets over their estimated useful lives.
          If the
          carrying amounts are greater than the undiscounted cash flows, the fair
          values
          of those assets are estimated by discounting the projected cash flows.
          Any
          excess of the carrying amounts over the fair values are recorded as impairments
          in that fiscal period.
  Property
          and Equipment -Property and equipment is stated at cost. Depreciation is provided
          by the
          straight-line method over the estimated economic life of the property and
          equipment remaining from five to seven years.
  When
          assets are sold or retired, their costs and accumulated deprecation are
          eliminated from the accounts and any gain or loss resulting from their
          disposal
          is included in the statement of operations.
  The
          Company recognizes an impairment loss on property and equipment when evidence,
          such as the sum of expected future cash flows (undiscounted and without
          interest
          charges), indicates that future operations will not produce sufficient
          revenue
          to cover the related future costs, including depreciation, and when the
          carrying
          amount of the asset cannot be realized through sale. Measurement of the
          impairment loss is based on the fair value of the assets.
  Risk
          and Uncertainties- The Company is subject to risks common to companies in the service
          industry, including, but not limited to, litigation, development of new
          technological innovations and dependence on key personnel.
  Share-Based
          Payments -In December 2004, the Financial Accounting Standards Board (“FASB”)
          issued SFAS No. 123 (R), “Share-Based Payment”, which
          establishes standards for transactions in which an entity exchanges its
          equity
          instruments for goods and services. This standard replaces SFAS No. 123
          and
          supersedes Accounting Principles Board (“APB”) Opinion No. 25, “Accounting for Stock-Based
          Compensation”. This standard requires a public entity to measure the cost
          of employee services, using an option-pricing model, such as the Black-Scholes
          Model, received in exchange for an award of equity instruments based on
          the
          grant-date fair value of the award. This eliminates the exception to account
          for
          such awards using the intrinsic method previously allowable under APB No.
          25.
          Shares of commons stock issued for services rendered by a third party are
          recorded at fair market value, generally the quote at the close of market
          trading on the day for issuance of the stock or most recent sale. The Company
          adopted this standard in prior years using the modified prospective
          method.
  7
 Table
              of Contents
  BMX
          DEVELOPMENT CORP. “FKA BIOMETRIX INTERNATIONAL, INC.”
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 For
            the
            Three Months Ended March 31, 2008 and 2007
 
 NOTE
          1  SUMMARY
          OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
 
 Recent
          Accounting Pronouncements- In September,
          2006, the FASB issued
          SFAS No. 157, "Fair Value Measurements", which defines fair value, establishes
          a
          framework for measuring fair value in generally accepted accounting principles
          and expands disclosures about fair value measurements. SFAS No. 157 is
          effective
          for fiscal years beginning after November 15, 2007. The adoption of this
          standard on January 1, 2008 did not have a material effect on the Company's
          financial statements.
 
 In
          September, 2006, the FASB issued SFAS No. 158, "Employers' Accounting for
          Defined Benefit Pension and Other Postretirement Plans - An Amendment of
          FASB
          Statements No. 87, 88, 106 and 132(R)". SFAS No. 158 requires an employer
          to (i)
          recognize in its statement of financial position an asset for a plan's
          overfunded status or a liability for a plan's underfunded status; (ii)
          measure a
          plan's assets and its benefit obligations that determine its funded status
          as of
          the end of the employer's fiscal year (with limited exceptions); and (iii)
          recognize changes in the funded status of a defined benefit postretirement
          plan
          in the year in which the changes occur. Those changes will be reported
          in
          comprehensive income. The Company previously adopted in 2006 the requirement
          to
          recognize the funded status of a benefit plan and the disclosure requirements.
          The requirement to measure plan assets and benefit obligations to determine
          the
          funded status as of the end of the fiscal year and to recognize changes
          in the
          funded status in the year in which the changes occur is effective for fiscal
          years ending after December 15, 2008. The adoption of the measurement date
          provisions of this standard is not expected to have a material effect on
          the
          Company's financial statements.
 
 In
          February, 2007, the FASB issued SFAS No. 159, "The Fair Value Option for
          Financial Assets and Financial Liabilities". SFAS No. 159 permits entities
          to
          choose to measure many financial assets and financial liabilities at fair
          value.
          Unrealized gains and losses on items for which the fair value option has
          been
          elected are reported in earnings. SFAS No. 159 is effective for fiscal
          years
          beginning after November 15, 2007. The Company is not electing to measure
          its
          financial assets or liabilities at fair value pursuant to this
          statement.
  Recent
          Accounting
          Pronouncements (cont.) –In June 2006, the Financial Accounting Standards
          Board (“FASB”) ratified the provisions of Emerging Issues Task Force (“EITF”)
          Issue No. 06-3, “How Taxes Collected from Customers and Remitted to Governmental
          Authorities Should Be Presented in the Income Statement (That Is, Gross
          versus
          Net Presentation)”. EITF Issue No. 06-3 requires that the presentation of taxes
          within revenue-producing transactions between a seller and a customer,
          including
          but not limited to sales, use, value added, and some excise taxes, should
          be on
          either a gross (included in revenue and cost) or a net (excluded from revenue)
          basis. In addition, for any such taxes that are reported on a gross basis,
          a
          company should disclose the amounts of those taxes in interim and annual
          financial statements for each period for which an income statement is presented
          if those amounts are significant. The disclosure of those taxes can be
          done on
          an aggregate basis. EITF Issue No. 06-3 is effective for fiscal years beginning
          after December 15, 2006, which will be the Company’s calendar year 2007. The
          adoption of EITF Issue No. 06-3 is not expected to have a material impact
          on the
          Company’s consolidated results of operations or consolidated financial
          position.
  In
          September 2006, the Securities and Exchange Commission issued Staff Accounting
          Bulletin No.108 (“SAB No. 108”), “Considering the Effects of Prior Year
          Misstatements when Quantifying Current Year Misstatements”. SAB No. 108 requires
          analysis of misstatements using both an income statement (rollover) approach
          and
          a balance sheet (iron curtain) approach in assessing materiality and provides
          for a one-time cumulative effect transition adjustment. SAB No. 108 is
          effective
          for the fiscal year beginning November 15, 2006. The adoption of SAB No.
          108 is
          not expected to have a material impact on the Company’s consolidated results of
          operations or consolidated financial position.
  In
          March
          2006, the FASB issued SFAS No. 156. This Statement amends FASB Statement
          No.
          140, Accounting for Transfers and Servicing of Financial Assets and
          Extinguishments of Liabilities, with respect to the accounting for separately
          recognized servicing assets and servicing liabilities. This Statement is
          effective as of the beginning of its first fiscal year that begins after
          September 15, 2006. An entity should apply the requirements for recognition
          and
          initial measurement of servicing assets and servicing liabilities prospectively
          to all transactions after the effective date of this Statement.
  Recent
          Accounting
          Pronouncements (cont.) –In September 2006, the FASB issued
          SFAS No. 157 and No. 158. Statement No. 157 defines fair value, establishes
          a
          framework for measuring fair value in generally accepted accounting principles
          (GAAP), and expands disclosures about fair value measurements. This Statement
          applies under other accounting pronouncements that require or permit fair
          value
          measurements, the Board having previously concluded in those accounting
          pronouncements that fair value is the relevant measurement attribute.
          Accordingly, this Statement does not require any new fair value measurements.
          However, for some entities, the application of this Statement will change
          current practice.
  Statement
          No. 158 is an amendment of FASB Statements No. 87, 88, 106, and 132(R).
          It
          improves financial reporting by requiring an employer to recognize the
          over
          funded or under funded status of a defined benefit postretirement plan
          (other
          than a multiemployer plan) as an asset or liability in its statement of
          financial position and to recognize changes in that funded status in the
          year in
          which the changes occur through comprehensive income of a business entity
          or
          changes in unrestricted net assets of a not-for-profit organization. This
          Statement also improves financial reporting by requiring an employer to
          measure
          the funded status of a plan as of the date of its year-end statement of
          consolidated financial position, with limited exceptions.
  The
          Company does not expect application of SFAS No. 156, 157 and 158 to have
          a
          material effect on its consolidated financial statements.
 
 8
 Table
              of Contents
  BMX
            DEVELOPMENT CORP. “FKA BIOMETRIX INTERNATIONAL, INC.”
 NOTES
            TO
            CONSOLIDATED FINANCIAL STATEMENTS
 For
              the
              Three Months Ended March 31, 2008 and 2007
  NOTE
          2  INCOME
          TAXES
  At
          September 30, 2007, the Company had federal and state net operating loss
          carry
          forwards of approximately $94,000 that expire in the year 2020.
  Due
          to
          operating losses, there is no provision for current federal or state income
          taxes For the Three Months Ended March 31, 2008 and 2007.
  Deferred
          income taxes reflect the net tax effects of temporary differences between
          the
          carrying amounts of assets and liabilities for financial reporting purposes
          and
          the amount used for federal and state income tax purposes.
  The
          Company’s deferred tax asset at September 30, 2007 consists of net operating
          loss carry forwards calculated using federal and state effective tax rates
          equating to approximately $17,000 less a valuation allowance in the amount
          of
          approximately $17,000. Because of the Company’s lack of earnings history, the
          deferred tax asset has been fully offset by a valuation allowance. The
          valuation
          allowance increased by approximately $8,200 for the nine month period ended
          September 30, 2007.
  The
          Company’s total deferred tax asset as of September 30, 2007 is as
          follows:
  Net
          operating loss carry
          forwards                        $
          17,000
  Valuation
          allowance                                          (17,000)
  Net
          deferred tax
          asset                                         $        --
 =======
  The
          reconciliation of income taxes computed at the federal and state statutory
          income tax rate to total income taxes For the Three Months Ended March
          31, 2008
          and 2007 is as follows:
  Income
          tax computed at the federal statutory
          rate                        
34%
  Income
          tax computed at the state statutory
          rate                            
5%
  Valuation
          allowance                                                                   (39%)
  Total
          deferred tax
          asset                                                               0%
 
 
 NOTE
          3  CAPITAL
          STOCK
  The
          Company is authorized to issue 200,000,000 common shares at $.001 par value
          per
          share.
  In
          August, 2007, the Company affected a ten for one forward split of its common
          stock.
  The
          Company issued 200,000 pre-split (2,000,000 post-split) common shares in
          May,
          2007 to its Vice President, for the purchase of all of his stock in a motorcycle
          repair company that he solely owned.
  In
          September, 2007, the Company issued 96,000 shares of its restricted common
          stock
          to eight accredited investors in exchange for $48,000 in cash. The Company
          also
          issued an equal warrant for each share sold. See Note 9 below for disclosure
          of
          the warrants. The Company recorded $14,244 in expense during the three
          months
          ended September 30, 2007 to record the fair market value of the warrants
          issued
          based on the Black Scholes option-pricing model.
  NOTE
          4   LOSS PER
          SHARE
  Loss
          per
          share is computed by dividing the net loss by the weighted average number
          of
          common shares outstanding during the period. Basic and diluted loss per
          share
          was the same For the Three Months Ended March 31, 2008 and 2007.
  
 NOTE
          5  SUPPLEMENTAL
          CASH FLOW
          INFORMATION
  Supplemental
          disclosures of cash flow information For the Three Months Ended March 31,
          2008
          and 2007 are summarized as follows:
  Cash
          paid
          during the period for interest and income taxes:
  2007                                           
2006
  Income
          Taxes                         $
          --                                           
$ --
  Interest                               $4,951                                           
          $5,112
 
  NOTE
          6  GOING
          CONCERN AND UNCERTAINTY
  The
          Company has suffered recurring losses from operations since inception.
          In
          addition, the Company has yet to generate an internal cash flow from its
          business operations. These factors raise substantial doubt as to the ability
          of
          the Company to continue as a going concern.
 
 Management’s
          plans with regard to these matters encompass the following actions: 1)
          obtain
          funding from new investors to alleviate the Company’s working deficiency, and 2)
          implement a plan to generate sales. The Company’s continued existence is
          dependent upon its ability to resolve it liquidity problems and increase
          profitability in its current business operations. However, the outcome
          of
          management’s plans cannot be ascertained with any degree of certainty. The
          accompanying consolidated financial statements do not include any adjustments
          that might result from the outcome of these risks and
          uncertainties.
  9
 Table
              of Contents
 BMX
            DEVELOPMENT CORP. “FKA BIOMETRIX INTERNATIONAL, INC.”
 NOTES
            TO
            CONSOLIDATED FINANCIAL STATEMENTS
 For
              the
              Three Months Ended March 31, 2008 and 2007
  NOTE
          7  BANK NOTE
          PAYABLE
  The
          Company has a term bank note payable to an unrelated banking institution
          bearing
          annual interest of 10.25%, secured by equipment with a net book value of
          $24,917
          at September 30, 2007. The note was originally for $9,900 and consists
          of
          eighty-four monthly payments of principal and interest of $168 with principal
          maturity in December, 2011.
  Principal
          maturities of the bank note payable as of September 30, 2007 for the next
          five
          years with none due thereafter are as follows:
 
 2007                                                      
          $ 1,253
 2008                                                      
          $ 1,394
 2009                                                      
          $ 1,552
 2010                                                      
          $ 1,728
 2011                                                      
          $ 1,606
 Total                                                      
          $ 7,533
 ========
 
 NOTE
          8 LEASE
          COMMITMENT AND RELATED PARTY TRANSACTION
  The
          Company has a three year lease at $100 per month with a related party company
          that is partially owned by its President. The lease expires on December
          31, 2007
          and, therefore, no future minimum lease commitment exists beyond one
          year.
  The
          Company also has an oral, month-to-month lease with an individual related
          to the
          Company’s Vice President. The lease is gratuitous and consists of approximately
          1,100 square feet of space including a bay area, shop and office. The
          consolidated financial statements herein include the imputed fair value
          of the
          space at $900 per month based upon comparables in the area.
  At
          September 30, 2007, the Company owes $5,000 to a company related through
          common
          ownership with the Company’s officer, director and majority shareholder for
          money it borrowed during the nine months ended September 30, 2007.
  NOTE
          9  STOCK
          WARRANTS
  During
          the three months ended September 30, 2007, the Company issued 96,000 stock
          warrants to eight unrelated accredited investors who subscribed to the
          Company’s
          common stock. The stock warrants allow the unrelated parties to purchase
          shares
          of the Company’s stock at $1.00 per share per the individual signed warrant
          agreement. The warrants allow the unrelated parties to purchase one common
          share
          of the Company’s common stock for each warrant. The warrants expire in
          September, 2010 per the individual warrant agreement. The Company did not
          grant
          any registration rights with respect to any shares of common stock issuable
          upon
          exercise of the warrants. The Company recorded an expense of $14,244 equal
          to
          the estimated fair value of the options at the date of grants. The fair
          market
          value was calculated using the Black-Scholes options pricing model, assuming
          approximately 6% risk-free interest, 0% dividend yield, 65% volatility,
          $1.50
          per share strike price, and a life of three years.
  Stock
          warrants outstanding and exercisable on September 30, 2007 are as
          follows:
  Exercise
                Shares
                    Under
                Remaining
                    LifePrice
                    per  Share
                Option
                In
                    YearsOutstanding:$1.50
                96,000
                3.00Exercisable:$1.50
                96,000
                3.00
  NOTE
          10  SUBSEQUENT
          EVENTS
  Subsequent
          to September 30, 2007, the Company’s two majority shareholders, who are also
          officers and directors, collectively retired 2,800,000 of their common
          shares
          back to the treasury. The Company as of October 9, 2007, therefore, has
          4,796,000 shares of its common stock issued and outstanding.
  10
 Table
            of Contents
  ITEM
        2. MANAGEMENT'S DISCUSSION
        AND ANALYSIS
        OF CONSOLIDATED FINANCIAL CONDITION AND RESULTS OF OPERATION
 
 As
        used herein the terms "we", "us",
        "our," the “Registrant,” “BMX” and the "Company" means, BMX Development Corp.
        (FKA Biometrix International, Inc.), a Florida corporation. These terms also
        refer to our wholly-owned subsidiary corporation, Johnson High Performance,
        Inc.
        (“JHP”), organized and existing under the laws of North Carolina on September 1,
        2004, acquired on April 27, 2007.
 
 GENERAL
        DESCRIPTION OF
        BUSINESS
  We
        were
        incorporated on December 28, 2004 under the name Biometrix International,
        Inc.
        On May 30, 2007, we filed an amendment to the Articles of Incorporation with
        the
        Secretary of State of Florida to change our corporate name to BMX Development
        Corp. On April 27, 2007, we acquired our sole wholly-owned subsidiary, Johnson
        High Performance, Inc. ("JHP"). After the acquisition, we changed our corporate
        name to BMX Development Corp. as mentioned above and began the business for
        motorcycle repairs.
  On
        April 27,
        2007, BMX (legal acquirer) executed a Plan of Exchange with JHP (accounting
        acquirer), the sole shareholder of JHP, pursuant to which BMX issued the
        new
        200,000 common shares to Dean A. Stewart, sole shareholder of JHP, pursuant
        to
        Regulation D under the Securities Act of 1933, as amended, in exchange for
        all
        of the common shares of JHP. As a result, JHP became the wholly-owner subsidiary
        of BMX.
  Theabove
        mentionedstock
        exchange transaction has been
        accounted for as a reverse acquisition and recapitalization ofBMXwherebyJHPis
        deemed to be the accounting acquirer
        (legal acquiree) andBMXto
        be the accounting acquiree (legal
        acquirer). The accompanying consolidatedfinancial statements
        are in substance
        those ofJHP,
        with the assets and liabilities,
        and revenues and expenses,
        ofBMXbeing
        included effective from the date
        of stock exchange transaction.BMXis
        deemed to be a continuation of thebusinessofJHP.Accordingly,
        the accompanyingconsolidatedfinancial
        statementsinclude the
        following:
 
 (1)Thebalance
                  sheet consists of the net
                  assets of theaccountingacquirer
                  at historical cost and
                  the net assets of theaccountingacquiree
                  at historical
                  cost;
 
 (2)the
                  financial position,
                  results of
                  operations, and cash flowsof the acquirerfor
                  all periods presented asif the
                  recapitalization had occurred at the beginning of the earliest
                  period
                  presentedand the
                  operations of theaccounting
                  acquiree from the date
                  of stock exchange
                  transaction.
 
 Since
        the completion of the Plan of
        Exchange, which was on April 27, 2007, we have continued operations of JHP.
        Prior to the merger with JHP, we were an inactive, dormant shell corporation.
        We
        had been dormant since December, 2004 with operations consisting of only
        organizational activities. Management decided that the repair and servicing
        of
        motor cycles would be beneficial, thus we acquired a business in this
        field.
 
 Our
        operations primarily involve street and off-road motorcycle servicing and
        repair, specializing in affordable brand name and after-market replacement
        products. Through our emphasis on budget pricing and high quality service,
        we
        have developed a market in the motorcycle service industry in the local
        Charlotte, North Carolina area and a fifty mile surrounding area. We currently
        operate one office and one service bay area that is maintained by a management
        team of two individuals. The present geographic area we operate in includes
        primarily the Mecklenburg County, and Iredell County areas of North Carolina.
        Our subsidiary’s phone number is (336) 992-0241. This is the number used by
        customers and for all other business related matters.
 
 Marketing
        for our services is accomplished through print ads in newspapers as well
        as
        wholesale referrals. Additionally, we utilize a network of motor cycle owners
        and obtain business through networking with them.
 
 The
        motorcycle repair service industry is highly competitive with respect to
        price,
        service, quality, and location. There are numerous competitors in the motorcycle
        repair servicing industry that possess substantially greater financial,
        marketing, personnel and other resources. There can be no assurance that
        we will
        be able to respond to various competitive factors affecting the business.
        We
        plan to gain a competitive advantage over our competitors in the motorcycle
        repair servicing industry by offering quality services at a low
        price.
 
 We
        believe our quality and good customer service will differentiate our services
        from our competitors. For example, many of our listed prices currently match
        or
        are lower than the advertised prices of our major competitors. Also, we offer
        next day servicing on our repairs and our customer service professionals
        have an
        average of five years in the motorcycle industry which allows them to better
        serve our customers. However, since many of our competitors have greater
        brand
        loyalty and more capital resources than we do, there can be no assurance
        we will
        be successful in gaining that competitive advantage in our
        marketplace.
 
 Our
        main
        markets are individual retail customers and wholesale buyers and no single
        customer makes up more than ten percent of our total revenues. We do not
        expect
        that this will change in the future.
 
 We
        have
        two full-time employees. We also have two management consultants that are
        each
        independently contracted by us to service and provide financial consulting
        and
        services.
  Our
        service
        line consists primarily of the following:
  ·
              Air
                  filters                                
                  Fuel
                  valves                             Throttle
                  assemblies
 ·
              Air
                  shifters                              
                  Gaskets                                 Tires
 ·
              Carburetors                              Ignitions                                
                  Transmission and clutch parts
 ·
              Chains                                      Piston
                  kits                              Valves
 ·
              Cylinders                                 
                  Race engine
                  valves                 Velocity
                  stacks
 ·
              Exhaust
                  systems                       
                  RPM
                  limiters                         Wheels
 
 11
 Table
            of Contents
 
 We
          provide
          installation services for these products.
  No
        single
        customer accounts for more than ten percent of our business. At the present
        time
        there is no need for governmental approvals, though this may change in the
        future.
 
 Servicing
  Our
        tool
        inventory consists of products which we purchase from wholesalers. Of our
        200
        total square feet of facility, 100 square feet is dedicated to accounting,
        administration, billing, etc. We do provide installation and repair services
        from this facility.
 
 Pricing
 
 The
        price
        range of motor cycle replacement parts varies from market to market, affected
        by
        several factors including brand recognition, marketing strategies, quality,
        warranties, payment terms etc. A strategy primarily focused on being the
        lowest
        price typically results in more intense competition and lower profit margin.
        Therefore, on many of our services we offer multiple value choices in a
        good/better/best assortment, with appropriate price and quality differences
        from
        the “good” products to the “better” and “best” products. We believe that our
        overall prices compare favorably to those of our competitors.
 
 Marketing
 
 We
        believe that targeted advertising and marketing play important roles in
        succeeding in today’s environment. We will constantly work to understand our
        customers’ wants and needs so that we can build long-lasting, loyal
        relationships. We plan to utilize marketing and advertising primarily to
        advise
        customers about the overall importance of motor cycle maintenance, our great
        value and the availability of high quality service and parts. We are attempting
        to develop a targeted ‘loyalty program’ as a marketing method of driving new
        traffic to us. The basic idea of a ‘loyalty program’ is providing incentive
        discounts to the repeat customers. We will store up our customers' purchase
        records and set up guidelines to identify qualified customers. Such guidelines
        may include the total amount spent on repairs, or total visits for our services.
        For example, we may provide a 10% discount to customers whose total yearly
        spending exceeds $1,000. The loyalty program is still under development.
        We
        believe such incentives will appeal to our targeted customers including garages,
        service stations and other mechanics that repeatedly purchase use our services.
        To increase average sales dollars per transaction, we utilize creative
        promotional materials to increase the chance of up-selling and cross-selling
        opportunities.
 
 Purchasing
        and Supply Chain
 
 Replacement
        parts are selected and purchased from various vendors locally. We currently
        have
        several primary suppliers including Kustomwerks and Zippers. Neither of them
        are
        related parties. We typically assemble a list of replacement parts and products
        we need and phone or fax our orders into our suppliers on a daily basis.
        Most
        replacement parts and products are delivered to us the same day. We do not
        have
        any written distributors agreements with any of our suppliers. If we lost
        any of
        our suppliers, we believe we will be able to replace them with a comparable
        supplier without a material disruption to our business. However, we believe
        that
        we currently have good relationships with our suppliers.
 Environmental
        Law
        Compliance
 
 There
        are no current existing
        environmental concerns for our services. If this changes in the future, we
        make
        every effort to comply with all such applicable regulations.
  RESULTS
        OF OPERATIONS FOR
        THE THREE MONTHS ENDED MARCH 31, 2008 AND 2007
 
 The
        following discussion should be read
        in conjunction with the consolidated financial statements included in this
        report and is qualified in its entirety by the foregoing.
  FORWARD
        LOOKING STATEMENTS
  Certain
        statements in this report, including statements of our expectations, intentions,
        plans and beliefs, including those contained in or implied by "Management's
        Discussion and Analysis" and the Notes to Consolidated Financial Statements,
        are
        "forward-looking statements", within the meaning of Section 21E of the
        Securities Exchange Act of 1934, as amended (the "Exchange Act"), that are
        subject to certain events, risks and uncertainties that may be outside our
        control. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”,
“will”, and similar expressions identify forward-looking statements. Readers are
        cautioned not to place undue reliance on these forward-looking statements,
        which
        speak only as of the date on which they are made. We undertake no obligation
        to
        update or revise any forward-looking statements. These forward-looking
        statements include statements of management's plans and objectives for our
        future operations and statements of future economic performance, information
        regarding our expansion and possible results from expansion, our expected
        growth, our capital budget and future capital requirements, the availability
        of
        funds and our ability to meet future capital needs, the realization of our
        deferred tax assets, and the assumptions described in this report underlying
        such forward-looking statements. Actual results and developments could differ
        materially from those expressed in or implied by such statements due to a
        number
        of factors, including, without limitation, those described in the context
        of
        such forward-looking statements.
 
 CRITICAL
        ACCOUNTING POLICIES
  Revenue
        recognition
 
 We
        recognize revenue when repair services are completed, persuasive evidence
        of an
        arrangement exists, the fee is fixed or determinable and collectibility is
        probable. We assess collectibility based upon the clients’ financial condition
        and prior payment history, as well as our performance under the
        contract.
 
 Property,
        Plant, and
        Equipment
 
 Property
        and equipment are stated at cost less accumulated depreciation and accumulated
        impairment losses, if any. Depreciation is calculated on the straight-line
        basis
        over the following expected useful lives from the date on which they become
        fully operational and after taking into account their estimated residual
        values:
 
 Depreciable
                  lifeMachinery
              5
                  yearsEquipment
              5
                  years
 
 Expenditure
        for maintenance and repairs is expensed as incurred.
 
 12
 Table
            of Contents
  Revenues
 
 Net
        revenues were $12,984 and $15,918
        for the three months ended March 31, 2008 and 2007, respectively. Sales revenues
        were due primarily to motorcycle repairs and maintenance. The decline in
        year to
        date revenues was due to fewer advertising in 2008.
 
 Income
        /
        Loss
 
 We
        had
        net losses of $9,522 and $1,570 for the three months ended March 31, 2008
        and
        2007, respectively. The net losses in these periods were primarily due to
        depreciation expense, which were $3,250 in each of the quarters for the three
        months ended March 31, 2008 and 2007. We also imputed the fair value of rent
        provided by our Vice President’s brother of $2,700 in each of the quarters for
        the three months ended March 31, 2008 and 2007, respectively.
 
 Expenses
 
 Operating
        expenses for the three months ended March 31, 2008 and 2007 were $16,700
        and
        $10,574, respectively. Depreciation expense fees and the fair value of rent
        provided as mentioned above were the primary reasons for the changes in the
        respective periods. Also, uniform expenses of $362 and $302 for the three
        months
        ended March 31, 2008 and 2007, respectively, was another reason for the changes
        in the respective periods.
  Cost
        of
        Revenue
 
 Cost
        of
        revenue primarily includes sales of purchased motor cycle parts inventory.
        During the three months ended March 31, 2008, we had cost of revenues of
        $5,196,
        or approximately 60% of revenues, and $6,379 for the three months ended March
        31, 2007, or approximately 60%. The cost of revenue as a percentage of revenue
        was fairly stable, with cost cutting, efficiency measures in labor taking
        effect
        during the three-month periods ended March 31, 2008 and 2007 primarily
        attributable to the stable price in the cost components.
 
 Impact
        of
        Inflation
 
 We
        believe that inflation has had a negligible effect on operations during the
        three-month periods ended March 31, 2008 and 2007. We believe that we can
        offset
        inflationary increases in the cost of revenue by increasing revenue and
        improving operating efficiencies.
 Liquidity
        and Capital
        Resources
 
 Net
        cash flowsprovided by(used
        in)operating activities
        were$(6,969)and
        $4,425for
        thethreemonthsendedMarch
        31, 2008and 2007,
        respectively, primarily attributable
        to a net
        loss, which were$9,522and
        $1,570for
        thethreemonthsendedMarch
        31, 2008and 2007,
        offset bydepreciation expense
        of $3,250,
        fair value of rent provided in the
        amount of $2,700,and
        increases in accounts payable
        ineach of these two
        periods.
 
 There
        were no cash flows from investing activities for the threemonthsendedMarch
        31, 2008and 2007.
 
 Net
        cash
        flows used in financing activities were $348 and $230 for the threemonthsendedMarch
        31, 2008and 2007,
        solely attributable
        toprincipal repayments
        on our note payable
        to the bank.
 Overall,
        we have funded all of our cash needs from inception through March 31, 2008
        with
        proceeds from issuance of our common stock.
 
 On
        March
        31, 2008, we had cash of $50,231 on hand.We
        do not have or anticipate having
        within the next 12 months any cash flow or liquidity problems and we are
        not in default or in
        breach
        of ournoteorlease or other indebtedness
        or
        financing arrangement requiring us to make payments.
 
 No
        significant amount of our trade payables
        has been
        unpaid within the stated trade term. We are not subject to any unsatisfied
        judgments, liens or settlement obligations.
 
 ITEM
        3. QUANTITATIVE
        AND QUALITATIVE DISCLOSURES
        ABOUT MARKET RISK
 
 The
        information to be
        reported under this item is
        not required of smaller reporting companies.
 
 ITEM
        4T. CONTROLS AND PROCEDURES.
  DISCLOSURE
                  CONTROLS
                  AND PROCEDURESOur
                  management, including our Principal Executive Officer and Principal
                  Financial Officer, has evaluated the design, operation, and effectiveness
                  of our disclosure controls and procedures pursuant to Rule 13a-15
                  under
                  the Securities Exchange Act of 1934 (the “Exchange Act”). There are
                  inherent limitations to the effectiveness of any system of disclosure
                  controls and procedures, including the possibility of human error
                  and the
                  circumvention or overriding of the controls and procedures. Accordingly,
                  even effective disclosure controls and procedures can only provide
                  reasonable assurance of achieving their control objectives. Based
                  upon the
                  evaluation performed by our management, including its Principal
                  Executive
                  Officer and Principal Financial Officer, it was determined that,
                  as of the
                  end of the period covered by this quarterly report, our disclosure
                  controls and procedures were effective to provide reasonable assurance
                  that information required to be disclosed in the reports filed
                  or
                  submitted pursuant to the Exchange Act is recorded, processed,
                  summarized,
                  and reported within the time periods specified in the rules and
                  forms of
                  the SEC, and that such information is accumulated and communicated
                  to our
                  management, including its Principal Executive Officer and Principal
                  Financial Officer, or persons performing similar functions, as
                  appropriate
                  to allow timely decisions regarding disclosures
  Changes
        in Internal Control
        Over Financial Reporting
 
 Our
        Principal Executive Officer and Principal Financial Officer have determined
        that, during the period covered by this quarterly report, there were no changes
        in our internal control over financial reporting that materially affected,
        or
        are reasonably likely to materially affect, our internal control over financial
        reporting. They have also concluded that there were no significant changes
        in
        our internal controls after the date of the evaluation.
 
 13
 Table
            of Contents
  PART
        II. OTHER INFORMATION
 
 ITEM
        1. LEGAL PROCEEDINGS
 
 We
        are
        not aware of any pending or threatened legal proceedings, in which we are
        involved. In addition, we are not aware of any pending or threatened legal
        proceedings in which entities affiliated with our officers, directors or
        beneficial owners are involved.
  ITEM
        1A. RISK FACTORS
  Information
        regarding risk factors appears in Part I, “Item 2. Management’s Discussion
        and Analysis of Financial Condition and Results of Operations” under the
        captions “General Description of Business” and “Cautionary Note Regarding
        Forward-Looking Statements” contained in this Quarterly Report on Form 10-Q and
        in “Item 1A. RISK FACTORS” of our 2007 Annual Report on Form 10-KSB. There
        have been no material changes from the risk factors previously disclosed
        in our
        2007 Annual Report on Form 10-KSB.
 
 ITEM
        2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
  None.
 
 ITEM
        3. DEFAULTS UPON SENIOR SECURITIES
 
 None.
 
 ITEM
        4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
 None.
 
 ITEM
        5. OTHER INFORMATION
 
 None.
  ITEM
        6. EXHIBITS AND REPORTS ON FORM 8-K
 
 (1)
              Exhibits:
                  Exhibits required to be attached
                  by Item 601 of Regulation S-B are listed in the Index to Exhibits
                  beginning on page 8 of this Form 10-Q, which is incorporated herein
                  by
                  reference.
 
 Reports
        on Form 8-K
        filed
 
 (1)
              None.
 14
 Table
            of Contents
  SIGNATURES
 
 Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned, there
        unto duly authorized.
  BMX
                  DEVELOPMENT CORP. (FKA BIOMETRIX INTERNATIONAL, INC.)Date:
                  May 14, 2008
              By:
              /s/ Michael
                  J. BongiovanniMichael
                  J. Bongiovanni
                President
 15
 Table
            of Contents
  INDEX
        TO EXHIBITS
  Exhibit
                  No.
              
              Description31.1
              
              Certification
                  of Chief Executive
                  Officer31.2
              
              Certification
                  of Chief Financial
                  Officer32.1
              
              Statement
                  required by 18 U.S.C. Section 1350, as adopted
                  pursuant to section 906 of the Sarbanes-Oxley Act of
                  2002.32.2
              
              Statement
                  required by 18 U.S.C. Section 1350, as adopted
                  pursuant to section 906 of the Sarbanes-Oxley Act of 2002