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| Nevada                                                        | 87-40479286                             |
|---------------------------------------------------------------|-----------------------------------------|
| (State or other jurisdictionof incorporation or organization) | (I.R.S. Employer Identification Number) |

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| Large Accelerated Filer o |   | Accelerated Filer o |   | Non-Accelerated Filer o(Do not check if a smallerreporting company) |   | Smaller Reporting Company x |
|---------------------------|--------|---------------------|--------|---------------------------------------------------------------------|--------|-----------------------------|

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ACQUIRED SALES CORP.

|                                                  |                                                                                                                                                                                                              |   | Page(s)                   |
|-------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|
|  PART I – FINANCIAL INFORMATION: |                                                                                                                                                                                                              |   |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 1.                                               | Condensed Financial Statements (unaudited):                                                                                                                                                                       |   |                      |
|                                                  |                                                                                                                                                                                                              |   |                      |
|                                                  | Condensed Balance Sheets as of March 31, 2010 and September 30, 2009                                                                                                                                              |   | F-1                       |
|                                                  |                                                                                                                                                                                                              |   |                      |
|                                                  | Unaudited Condensed Statements of Operations for the Three and Six Months Ended March 31, 2010 and 2009, and for the Period from May 27, 2004 (Date of Inception of the Development Stage) through March 31, 2010 |   | F-2                       |
|                                                  |                                                                                                                                                                                                              |   |                      |
|                                                  | Unaudited Condensed Statements of Cash Flows for the Three and Six Months Ended March 31, 2010 and 2009 and for the Period from May 27, 2004 (Date of Inception of the Development Stage) through March 31, 2010  |   |  F-3                 |
|                                                  |                                                                                                                                                                                                              |   |                      |
|                                                  |  Notes to Condensed Financial Statements                                                                                                                                                                     |   | F-4 – F-5 |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 2.                                          | Management's Discussion and Analysis of Financial Condition and Results of Operations                                                                                                                             |   | 1                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 3.                                               | Quantitative and Qualitative Disclosures About Market Risk                                                                                                                                                        |   | 4                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 4.                                          | Controls and Procedures                                                                                                                                                                                           |   | 4                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
|  PART II – OTHER INFORMATION:    |                                                                                                                                                                                                              |   |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 1.                                               | Legal Proceedings                                                                                                                                                                                                 |   | 5                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 2.                                               | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                                       |   | 5                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 3.                                               | Defaults Upon Senior Securities                                                                                                                                                                                   |   | 5                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 4.                                               | Submission of Matters to a Vote of Security Holders                                                                                                                                                               |   | 5                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 5.                                               | Other Information                                                                                                                                                                                                 |   | 5                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Item 6.                                          | Exhibits                                                                                                                                                                                                          |   | 5                         |
|                                                  |                                                                                                                                                                                                              |   |                      |
| Signatures                                            |                                                                                                                                                                                                              | 6      |

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INDEX

Item  1. Financial Statements

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INDEX

| Acquired Sales Corp.                                                         |   |
|------------------------------------------------------------------------------|--------|
| (a development stage enterprise)                                             |   |
| Unaudited Condensed Balance Sheets                                           |   |
|                                                                         |   |   |   |   |   |   |
|                                                                         |   | March 31, |   |   | September 30, |   |
|                                                                         |   | 2010 |   |   | 2009 |   |
|                                                                         |   |   |   |   |   |   |
| Assets:                                                                      |   |   |   |   |   |   |
| Current Assets:                                                              |   |   |   |   |   |   |
|    Cash                                                            |   | $ | - |   |   | $ | 12 |   |
|    Pre-paid expense                                                |   |   | - |   |   |   | 25 |   |
| Total Assets                                                                 |   | $ | - |   |   | $ | 37 |   |
|                                                                         |   |   |   |   |   |   |   |   |
| Liabilities and Stockholders' Deficit:                                       |   |   |   |   |   |   |   |   |
| Current Liabilities:                                                         |   |   |   |   |   |   |   |   |
|    Deficit in bank                                                 |   | $ | 125 |   |   | $ | - |   |
|    Accounts payable                                                |   |   | 6,055 |   |   |   | 2,371 |   |
|    Note payaable - related party                                   |   |   | 20,000 |   |   |   | 10,000 |   |
|    Note interest payable - related party                           |   |   | - |   |   |   | 82 |   |
| Total Current Liabilities                                                    |   |   | 26,180 |   |   |   | 12,453 |   |
|                                                                         |   |   |   |   |   |   |   |   |
| Stockholders' Deficit:                                                       |   |   |   |   |   |   |   |   |
|    Preferred stock, $0.001 par value, 10,000,000 shares            |   |   |   |   |   |   |   |   |
|      authorized, no shares issued and outstanding        |   |   | - |   |   |   | - |   |
|    Common stock, $0.001 par value, 50,000,000 shares               |   |   |   |   |   |   |   |   |
|      authorized, 5,832,482 shares issued and outstanding |   |   | 5,833 |   |   |   | 5,833 |   |
|    Additional paid-in capital                                      |   |   | 145,967 |   |   |   | 145,967 |   |
|    Deficit accumulated prior to the development stage              |   |   | (69,151 | ) |   |   | (69,151 | ) |
|    Deficit accumulated during the development stage                |   |   | (108,829 | ) |   |   | (95,065 | ) |
| Total Stockholders' Deficit                                                  |   |   | (26,180 | ) |   |   | (12,416 | ) |
| Total Liabilities and Stockholders' Deficit:                                 |   | $ | - |   |   | $ | 37 |   |
|                                                                         |   |   |   |   |   |   |   |   |
| See accompanying notes to the condensed financial statements.                |   |

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INDEX

| Acquired Sales Corp.                                          |   |
|---------------------------------------------------------------|--------|
| (a development stage enterprise)                              |   |
| Unaudited Condensed Statements of Operations                  |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   | For the period |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   | May 27, 2004 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   | (Date of Inception |   |
|                                                          |   | For the Three Months Ended |   |   | For the Six Months Ended |   |   | of the Development |   |
|                                                          |   | March 31, |   |   | March 31, |   |   | Stage) through |   |
|                                                          |   | 2010 |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |   | March 31, 2010 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    General and                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      administrative                       |   | $ | (7,765 | ) |   | $ | (1,613 | ) |   | $ | (12,864 | ) |   | $ | (7,449 | ) |   | $ | (161,475 | ) |
|    Waiver of tax                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      liability penalty                    |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 60,364 |   |
|    Interest                                         |   |   | (493 | ) |   |   | (166 | ) |   |   | (900 | ) |   |   | (166 | ) |   |   | (7,718 | ) |
| Net Loss                                                      |   | $ | (8,258 | ) |   | $ | (1,779 | ) |   | $ | (13,764 | ) |   | $ | (7,615 | ) |   | $ | (108,829 | ) |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    loss per share                                   |   | $ | (0.00 | ) |   | $ | (0.00 | ) |   | $ | (0.00 | ) |   | $ | (0.00 | ) |   |   |   |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    weighted average                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    common shares                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    outstanding                                      |   |   | 5,832,482 |   |   |   | 5,832,482 |   |   |   | 5,832,482 |   |   |   | 5,832,482 |   |   |   |   |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| See accompanying notes to the condensed financial statements. |   |

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INDEX

| Acquired Sales Corp.                                                                       |   |
|--------------------------------------------------------------------------------------------|--------|
| (a development stage enterprise)                                                           |   |
| Unaudited Condensed Statements of Cash Flows                                               |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |
|                                                                                       |   |   |   |   |   |   |   | For the period |   |
|                                                                                       |   |   |   |   |   |   |   | May 27, 2004 |   |
|                                                                                       |   |   |   |   |   |   |   | (Date of Inception |   |
|                                                                                       |   | For the Six Months Ended |   |   | of the Development |   |
|                                                                                       |   | March 31, |   |   | Stage) through |   |
|                                                                                       |   | 2010 |   |   | 2009 |   |   | March 31, 2010 |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |
| Cash Flows from Operating Activities:                                                      |   |   |   |   |   |   |   |   |   |
|    Net loss                                                                      |   | $ | (13,764 | ) |   | $ | (7,615 | ) |   | $ | (108,829 | ) |
|    Adjustments to reconcile net loss to net cash                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|      used in operating activities:                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|         Expenses paid by capital contributed by officer |   |   | - |   |   |   | - |   |   |   | 20 |   |
|         Waiver of tax liability penalty                 |   |   | - |   |   |   | - |   |   |   | (60,364 | ) |
|         Issuances of warrants for services              |   |   | - |   |   |   | - |   |   |   | 11,970 |   |
|    Changes in assets and liabilities:                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|      Prepaid expenses                                                  |   |   | 25 |   |   |   | (144 | ) |   |   | - |   |
|      Accounts payable                                                  |   |   | 3,684 |   |   |   | (750 | ) |   |   | 6,055 |   |
|      Note interest payable - related party                             |   |   | (82 | ) |   |   | 8 |   |   |   | - |   |
|      Payroll tax penalties and accrued interest                        |   |   | - |   |   |   | - |   |   |   | (8,787 | ) |
| Net Cash Used by Operating Activities                                                      |   |   | (10,137 | ) |   |   | (8,501 | ) |   |   | (159,935 | ) |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash Flows from Financing Activities:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|    Deficit in bank                                                               |   |   | 125 |   |   |   | - |   |   |   | 125 |   |
|    Proceeds from issuance of note payable to                                     |   |   |   |   |   |   |   |   |   |   |   |   |
|      related party                                                     |   |   | 10,000 |   |   |   | 10,000 |   |   |   | 215,000 |   |
|    Payment of principal on note payable to                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|      related party                                                     |   |   | - |   |   |   | - |   |   |   | (95,000 | ) |
|    Proceeds from issuance of common stock                                        |   |   | - |   |   |   | - |   |   |   | 40,000 |   |
|    Redemption of common stock                                                    |   |   | - |   |   |   | - |   |   |   | (190 | ) |
| Net Cash Provided by Financing Activities:                                                 |   |   | 10,125 |   |   |   | 10,000 |   |   |   | 159,935 |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash                                                            |   |   | (12 | ) |   |   | 1,499 |   |   |   | - |   |
| Cash at Beginning of Period                                                                |   |   | 12 |   |   |   | 670 |   |   |   | - |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash at End of Period                                                                      |   | $ | - |   |   | $ | 2,169 |   |   | $ | - |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental Cash Flow Information                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash paid for interest                                                                     |   | $ | 971 |   |   | $ | 166 |   |   |   |   |   |
|                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| See accompanying notes to the condensed financial statements.                              |   |

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INDEX

Acquired Sales Corp.

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INDEX

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INDEX

Item 2.

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INDEX

|                              |   | Six Months Ended Stage) March 31, 2010 |   |     | For the periodMay 27, 2004(Date of Inceptionof the Development through March 31, 2010 |   |
|--------------------------------------------------|--------|----------------------------------------|--------|----------|---------------------------------------------------------------------------------------|--------|
|                                             |   |                                   |   |     |                                                                                  |   |   |   |   |   |
| Net Cash (Used) by Operating Activities          |   | $                                      |   | (10,137) |                                                                                  |   | $ |   | (159,935) |   |
| Net Cash (Used) by Investing Activities          |   | $                                      |   | -        |                                                                                  |   | $ |   | - |   |
| Net Cash (Used) Provided by Financing Activities |   | $                                      |   | 10,000   |                                                                                  |   | $ |   | 159,810) |   |
| Net Increase (Decrease) in Cash                  |   | $                                      |   | (137)    |                                                                                  |   | $ |   | (125) |   |

|   | (i) | filing of reports under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (ii) | consummating an acquisition.  |
|--------|------|------------------------------------|

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INDEX

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INDEX

Item 3.

Item 4.

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INDEX

PART II — OTHER INFORMATION

Item 6. Exhibits.  (filed with this report unless indicated below)

| (a)  | Exhibits (filed with this report unless indicated below)  |
|-----------|----------------------------------------------------------------|
|      | Exhibit 3.1*                                                   | Articles of Incorporation dated December 12, 1985                                                                                      |
|      |                                                           |   |
|      | Exhibit 3.2*                                                   | Amended Articles of Incorporation Dated July 1992 |
|      |                                                           |   |
|      | Exhibit 3.3*                                                   | Amended Articles of Incorporation Dated November 1996 |
|      |                                                           |   |
|      | Exhibit 3.4*                                                   | Amended Articles of Incorporation Dated June 1999 |
|      |                                                           |   |
|      | Exhibit 3.5*                                                   | Amended Articles of Incorporation Dated January 25, 2006 |
|      |                                                           |   |
|      | Exhibit 3.6*                                                   | Amended Bylaws |
|      |                                                           |   |
|      | Exhibit 9.1**                                                  | Shareholder Agreement |
|      |                                                           |   |
|      | Exhibit 10.1                                                   | Private Merchant Banking Agreement-Anniston Capital, Inc. |
|      |                                                           |   |
|      | Exhibit 10.2                                                   | Warrant Agreement #1-Anniston Capital, Inc. |
|      |                                                           |   |
|      | Exhibit 10.3                                                   | Warrant Agreement #2-Anniston Capital, Inc. |
|      |                                                           |   |
|      | Exhibit 10.4                                                   | $100,000 Promissory Note – December 1, 2007 |
|      |                                                           |   |
|      | Exhibit 10.5                                                   | $10,000 Promissory Note – December 30, 2009 |
|      |                                                           |   |
|      | Exhibit 10.6                                                   | $10,000 Promissory Note – November 9, 2009 |
|      |                                                           |   |
|      | Exhibit 31.1                                                   | Certification of principal executive officer and principal financial officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|      |                                                           |   |
|      | Exhibit 32.1                                                   | Certification of principal executive officer and principal financial officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|      |                                                           |   |

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INDEX

SIGNATURES

| Dated: May 18, 2010 |   |   |
|---------------------|--------|--------|

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