FORM
10-Q


U.S.
SECURITIES AND EXCHANGE COMMISSION


Washington,
D.C. 20549





x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE


SECURITIES
EXCHANGE ACT OF 1934





For the
quarterly period ended December 31, 2008





OR





o TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE


SECURITIES
EXCHANGE ACT OF 1934





For the
transition period from ________ to ________





Commission
file number 000-51230





Acquired Sales
Corp.


(Exact
name of registrant as specified in its charter)





Nevada
            
            87-0479286(State
      or other jurisdiction
              of
      incorporation or organization)
            
            (I.R.S.
      Employer Identification Number)





31 N. Suffolk Lane, Lake
Forest, Illinois 60045


(Address
of principal executive offices)





(847)
404-1964


(Registrant’s
telephone number, including area code)





No
change


(Former
name, former address and former fiscal year, if changed since last
report)





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





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated file. See definition of accelerated
filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check
one):





Large
      accelerated filer     o
            Accelerated
      filer                   oNon-accelerated
      filer       o
            Smaller
      reporting company  x.(Do
      not check if a smaller reporting company)





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























APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE
YEARS:





Indicate
by check mark whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by a
court. Yes o No o.





APPLICABLE
ONLY TO CORPORATE ISSUERS





Indicate
the number of shares outstanding of each of the issuer’s classes of common
stock, as of the latest practicable date: 5,832,482 shares of common stock, par
value $.001 per share, outstanding as of February 13, 2009.




ii














ACQUIRED
SALES CORP.





-
INDEX -





PagePART
      I – FINANCIAL INFORMATION:Item
      1.
                Financial
      Statements:
                F-1Unaudited
      Condensed Balance Sheets, December 31, 2008 and September 30,
      2008
                F-2Unaudited
      Condensed Statements of Operations for the Three Months Ended December 31,
      2008 and 2007 and for the Period from May 27, 2004 (Date of Inception of
      the Development Stage) through December 31, 2008
                F-3Unaudited
      Condensed Statements of Cash Flows for the Three Months Ended December 31,
      2008 and 2007 and for the Period from May 27, 2004 (Date of Inception of
      the Development Stage) through December 31, 2008
                F-4Notes
      to Unaudited Condensed Financial Statements
                F-5Item
      2.
                Management’s
      Discussion and Analysis of Financial Condition and Results of
      Operations
                1Item
      3.
                Quantitative
      and Qualitative Disclosures About Market Risk
                3Item
      4T.
                Controls
      and Procedures
                3PART II – OTHER
      INFORMATION:Item
      1.
                Legal
      Proceedings
                3Item
      1A.
                Risk
      Factors
                3Item
      2.
                Unregistered
      Sales of Equity Securities and Use of Proceeds
                4Item
      3.
                Defaults
      Upon Senior Securities
                4Item
      4.
                Submission
      of Matters to a Vote of Security Holders
                4Item
      5.
                Other
      Information
                4Item
      6.
                Exhibits
                4Signatures
                5





iii













PART I – FINANCIAL
INFORMATION





Item
1. Financial Statements.





The
accompanying financial statements have been prepared in accordance with
generally accepted accounting principles for interim financial information and
in accordance with the instructions for Form 10-Q. Accordingly, they do not
include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements.





In the
opinion of management, the financial statements contain all material
adjustments, consisting only of normal recurring adjustments necessary to
present fairly the financial condition, results of operations, and cash flows of
the Company for the interim periods presented.





The
results for the period ended December 31, 2008 are not necessarily indicative of
the results of operations for the full year. These financial statements and
related footnotes should be read in conjunction with the financial statements
and footnotes thereto included in the Company’s Form 10-K filed with the
Securities and Exchange Commission for the period ended September 30,
2008.




F-1
  ACQUIRED
      SALES CORP.(a
      development stage enterprise)Unaudited
      Condensed Balance SheetsDecember
      31,
                              
                              
                              September
      30,2008
                              
                              
                              2008ASSETSCurrent
      Assets:Cash
                              
                              $
                              109
                              
                              
                              $
                              670TOTAL
      ASSETS
                              
                              $
                              109
                              
                              
                              $
                              670LIABILITIES
      AND STOCKHOLDERS' DEFICITCurrent
      Liabilities:Accounts payable
                              
                              $
                              6,025
                              
                              
                              $
                              750Total
      Current Liabilities
                              
                              
                              6,025
                              
                              
                              
                              750Stockholders'
      Deficit:Preferred
      stock, $0.001 par value, 10,000,000 sharesauthorized, no shares issued and outstanding
                              
                              
                              -
                              
                              
                              
                              -Common
      stock, $0.001 par value, 50,000,000 sharesauthorized, 5,832,482 shares issued and outstanding
                              
                              
                              5,833
                              
                              
                              
                              5,833Additional
      paid-in capital
                              
                              
                              145,967
                              
                              
                              
                              145,967Deficit
      accumulated prior to the development stage
                              
                              
                              (69,151
                              )
                              
                              
                              (69,151
                              )Deficit
      accumulated during the development stage
                              
                              
                              (88,565
                              )
                              
                              
                              (82,729
                              )Total
      Stockholders' Deficit
                              
                              
                              (5,916
                              )
                              
                              
                              (80
                              )TOTAL
      LIABILITIES AND STOCKHOLDERS' DEFICIT
                              
                              $
                              109
                              
                              
                              $
                              670See
      accompanying notes to the financial
statements.
  F-2
    ACQUIRED
      SALES CORP.(a
      development stage enterprise)Unaudited
      Condensed Statements of OperationsFor
      the periodMay
      27, 2004(Date
      of InceptionFor
      the Three Months Ended
                              
                              
                              of
      the DevelopmentDecember
      31,
                              
                              
                              Stage)
      through2008
                              
                              
                              2007
                              
                              
                              December
      31, 2008Expenses:General and administrative
                              
                              $
                              (5,836
                              )
                              
                              $
                              (20,460
                              )
                              
                              $
                              (142,778
                              )Waiver of tax liability penalty
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              60,364Interest
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (6,151
                              )Net
      Loss
                              
                              $
                              (5,836
                              )
                              
                              $
                              (20,460
                              )
                              
                              $
                              (88,565
                              )Basic
      and diluted loss per share
                              
                              $
                              (0.00
                              )
                              
                              $
                              (0.00
                              )Basic
      and diluted weighted averagecommon shares outstanding
                              
                              
                              5,832,482
                              
                              
                              
                              5,832,482See
      accompanying notes to the financial statements.
  F-3
   ACQUIRED
      SALES CORP.(a
      development stage enterprise)Unaudited
      Condensed Statements of Cash FlowsFor
      the periodMay
      27, 2004(Date
      of InceptionFor
      the Three Months Ended
                              
                              
                              of
      the DevelopmentDecember
      31,
                              
                              
                              Stage)
      through2008
                              
                              
                              2007
                              
                              
                              December
      31, 2008Cash
      Flows from Operating Activities:Net
      loss
                              
                              $
                              (5,836
                              )
                              
                              $
                              (20,460
                              )
                              
                              $
                              (88,565
                              )Adjustments
      to reconcile net loss to net cashused in operating activities:Expenses paid by capital contributed by officer
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              20Waiver of tax liability penalty
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (60,364
                              )Issuance of warrants for services
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              11,970Changes
      in assets and liabilities:Prepaid expense
                              
                              
                              -
                              
                              
                              
                              14,249
                              
                              
                              
                              -Accounts payable
                              
                              
                              5,275
                              
                              
                              
                              1,108
                              
                              
                              
                              6,025Payroll tax penalties and accrued interest
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (8,787
                              )Net
      Cash Used by Operating Activities
                              
                              
                              (561
                              )
                              
                              
                              (5,103
                              )
                              
                              
                              (139,701
                              )Cash
      Flows from Financing Activities:Proceeds from issuance of note payable torelated party
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              195,000Payment
      of principal on note payable torelated party
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (95,000
                              )Proceeds
      from issuance of common stock
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              40,000Redemption
      of common stock
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (190
                              )Net
      Cash Provided by Financing Activities:
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              139,810Net
      Increase (Decrease) in Cash
                              
                              
                              (561
                              )
                              
                              
                              (5,103
                              )
                              
                              
                              109Cash
      at beginning of period
                              
                              
                              670
                              
                              
                              
                              23,932
                              
                              
                              
                              -Cash
      at End of Period
                              
                              $
                              109
                              
                              
                              $
                              18,829
                              
                              
                              $
                              109See
      accompanying notes to the financial
statements.
  F-4


Acquired
Sales Corp.
 (a
development stage enterprise)
 Notes
to Unaudited Condensed Financial Statements
 
 Note
1: Basis of Presentation
 
 The
accompanying unaudited condensed financial statements of Acquired Sales Corp.
(the “Company”) were prepared pursuant to the rules and regulations of the
United States Securities and Exchange Commission. Certain information and
footnote disclosures normally included in financial statements prepared in
accordance with accounting principles generally accepted in the United States of
America have been condensed or omitted pursuant to such rules and regulations.
Management of the Company (“Management”) believes that the following disclosures
are adequate to make the information presented not misleading. These financial
statements should be read in conjunction with the audited financial statements
and the notes thereto for the year ended September 30, 2008 included in the
Company’s Form 10-K report.
 
 These
unaudited condensed financial statements reflect all adjustments, consisting
only of normal recurring adjustments that, in the opinion of Management, are
necessary to present fairly the financial position and results of operations of
the Company for the periods presented. Operating results for the three months
ended December 31, 2008, are not necessarily indicative of the results that may
be expected for the year ending September 30, 2009 or for any other
period.
 
 Note
2: Organization and Summary of Significant Accounting Policies
 
 The
Company was incorporated under the laws of the State of Nevada on January 2,
1986. In August 2001, the Company ceased all of its prior operations and
remained dormant from then until May 27, 2004 when it began new development
stage activities.
 
 Development stage
enterprise – The Company is a development stage enterprise and has not
engaged in any operations that have generated any revenue. The Company’s efforts
have been devoted primarily to raising capital, borrowing funds and attempting
to enter into a reverse acquisition with an operating entity.
 
 Use of estimates –
These unaudited condensed financial statements are prepared in conformity with
accounting principles generally accepted in the United States of America which
require that Management make estimates and assumptions that affect the reported
amounts of assets and liabilities and the disclosure of contingent assets and
liabilities. The use of estimates and assumptions may also affect the reported
amounts of revenues (if any occur in the future) and expenses. Actual results
could differ from those estimates or assumptions.
 
 Basic and diluted loss per
share of common stock – Basic loss per share is computed by dividing the
net loss by the weighted average number of common shares outstanding during the
period. Diluted loss per share is computed by dividing the net loss by the
weighted average number of common shares outstanding and dilutive potential
common shares, if the exercise of outstanding warrants had occurred. There were
175,000 warrants and no warrants outstanding at December 31, 2008 and 2007,
respectively that were excluded from the calculation of diluted loss per share
because they were anti-dilutive.
 
 Business condition –
The Company’s financial statements have been prepared using accounting
principles generally accepted in the United States of America applicable to a
going concern, which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. During the three months ended
December 31, 2008, the Company suffered a net loss of $5,836 and had a net
decrease in cash of $561. At December 31, 2008, the Company’s accounts payable
exceeded its cash position by $5,916 (See Note 4). These conditions raise
substantial doubt about the Company’s ability to continue as a going concern.
The accompanying financial statements do not include any adjustments that might
result from the outcome of this uncertainty. The Company's ability to meet its
ongoing financial requirements is dependent on Management being able to obtain
additional equity and/or debt financing, the realization of which is not
assured. In addition, the Company is dependent on Management being willing to
continue to serve without monetary remunerations.
 
 F-5
 
 Acquired
Sales Corp.
 (a
development stage enterprise)
 Notes
to Unaudited Condensed Financial Statements (continued)
 
 Note
3 – Letter Agreement and Warrants
 
 Effective
as of August 2007, the Company entered into a Letter Agreement with a private
merchant bank to provide certain services related to the identification,
evaluation and financing of potential acquisitions by the Company. Pursuant to
the Letter Agreement, which terminated on December 31, 2007, the Company paid on
August 2, 2007, a one-time $20,000 fee and prepaid accountable expenses of
$10,000. During the three months ended December 31, 2007, the remaining $12,000
one-time fee and $2,374 of the accountable expenses were charged to expense. In
addition, the Company issued warrants exercisable for 175,000 shares of common
stock at $0.10 per share. The Company valued these warrants at $11,970 using the
Black-Scholes option pricing model and charged this amount to expense during the
year ended September 30, 2007. Under certain conditions and events, the Company
may become obligated to make additional cash payments of six percent of the
gross proceeds of an equity investment, three percent of the gross proceeds of a
debt investment received by the Company and two percent of the consideration
received by the Company as a transactional fee. The Company may also be required
to issue additional warrants exercisable at the same price as shares being
issued in an equity investment.
 
 Note
4 – Subsequent Event
 
 On
January 30, 2009 the Company entered into a promissory note for $10,000, due on
demand bearing interest at 10% per annum with a related
party.


F-6











Item
2. Management’s Discussion and Analysis of Financial Condition and Results of
Operations.





Forward
Looking Statement Notice





Certain
statements made in this Quarterly Report on Form 10-Q are “forward-looking
statements” (within the meaning of the Private Securities Litigation Reform Act
of 1995) regarding the plans and objectives of management for future operations.
Such statements involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements of Acquired Sales
Corp. (“we”, “us”, “our” or the “Company”) to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. The forward-looking statements included herein are
based on current expectations that involve numerous risks and uncertainties. The
Company's plans and objectives are based, in part, on assumptions involving the
continued expansion of business. Assumptions relating to the foregoing involve
judgments with respect to, among other things, future economic, competitive and
market conditions and future business decisions, all of which are difficult or
impossible to predict accurately and many of which are beyond the control of the
Company. Although the Company believes its assumptions underlying the
forward-looking statements are reasonable, any of the assumptions could prove
inaccurate and, therefore, there can be no assurance the forward-looking
statements included in this Quarterly Report will prove to be accurate. In light
of the significant uncertainties inherent in the forward-looking statements
included herein, the inclusion of such information should not be regarded as a
representation by the Company or any other person that the objectives and plans
of the Company will be achieved.





Description
of Business





We were
organized under the laws of the State of Nevada on January 2, 1986. In August
2001, we ceased all of our prior operations and remained dormant from then until
May 27, 2004 when we began our current development stage activities. We have had
no material operations in the past five years.





We
propose to seek, investigate and, if warranted, acquire an interest in one or
more businesses. As of the date hereof, we have no business opportunities or
ventures under contemplation for acquisition or merger. We propose to
investigate potential opportunities, particularly focusing upon existing
privately held businesses whose owners are willing to consider merging their
businesses into our company in order to establish a public trading market for
their common stock, and whose managements are willing to operate the acquired
businesses as divisions or subsidiaries of our company. The businesses we
acquire may or may not need an injection of cash to facilitate their future
operations. The Company filed a registration statement on Form 10-SB with the
U.S. Securities and Exchange Commission (the “SEC”) on March 23, 2007, and since
its effectiveness, the Company has focused its efforts to identify a possible
business combination





The
Company, based on proposed business activities, is a “blank check” company. The
SEC defines those companies as "any development stage company that is issuing a
penny stock, within the meaning of Section 3(a)(51) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and that has no specific
business plan or purpose, or has indicated that its business plan is to merge
with an unidentified company or companies." Many states have enacted statutes,
rules and regulations limiting the sale of securities of "blank check" companies
in their respective jurisdictions. The Company is also a “shell company,”
defined in Rule 12b-2 under the Exchange Act as a company with no or nominal
assets (other than cash) and no or nominal operations. Management does not
intend to undertake any efforts to cause a market to develop in our securities,
either debt or equity, until we have successfully concluded a business
combination. The Company intends to comply with the periodic reporting
requirements of the Exchange Act for so long as we are subject to those
requirements.




The
Company is currently operating as a vehicle to investigate and, if such
investigation warrants, acquire a target company or business seeking the
perceived advantages of being a publicly held corporation. The Company’s
principal business objective for the next 12 months and beyond such time will be
to achieve long-term growth potential through a combination with an operating
business. The Company will not restrict its potential candidate target companies
to any specific business, industry or geographical location and, thus, may
acquire any type of business.





Liquidity
and Capital Resources





As of
December 31, 2008, the Company had assets equal to $109 comprised exclusively of
cash. This compares with assets of $670 comprised exclusively of cash as of
September 30, 2008. The Company’s current liabilities as of December 31, 2008
totaled $6,025. This compares to the Company’s current liabilities as of
September 30, 2008 of $750. The Company can provide no assurance that it
can continue to satisfy its cash requirements for at least the next twelve
months.





The
following is a summary of the Company's cash flows provided by (used in)
operating, investing, and financing activities:





Three Months
                    Ended
                    December
      31, 2008
                  
                  
                  Cumulative Period
                    From May
      27, 2004
                    (Inception
      of Developmental Stage) to
                    December
      31, 2008Net
      cash (used) in operating activities
                  
                  $
                  (561
                  )
                  
                  $
                  (139,701
                  )Net
      cash (used) in investing activities
                  
                  $
                  0
                  
                  
                  $
                  0Net
      cash (used) provided by financing activities
                  
                  $
                  0
                  
                  
                  $
                  139,810Net
      increase (decrease) in cash and cash equivalents
                  
                  $
                  (561
                  )
                  
                  $
                  109








1


The
Company has only cash assets and has generated no revenues since inception of
its new developmental stage. The Company is also dependent upon the receipt of
capital investment or other financing to fund its ongoing operations and to
execute its business plan of seeking a combination with a private operating
company. In addition, the Company is dependent upon certain related parties to
provide continued funding and capital resources. If continued funding and
capital resources are unavailable at reasonable terms, the Company may not be
able to implement its plan of operations.





Results
of Operations





The
Company has not conducted any active operations since inception of its new
developmental stage, except for its efforts to locate suitable acquisition
candidates. No revenue has been generated by the Company from May 27, 2004
(Inception of its new developmental stage) to December 31, 2008. It is unlikely
the Company will have any revenues unless it is able to effect an acquisition or
merger with an operating company, of which there can be no assurance. It is
management's assertion that these circumstances may hinder the Company's ability
to continue as a going concern. The Company’s plan of operation for the next
twelve months shall be to continue its efforts to locate suitable acquisition
candidates.










For the
three months ending December 31, 2008, the Company had a net loss of $(5,836),
comprised of legal, accounting, audit and other professional service fees
incurred in relation to the filing of the Company’s Annual Report on Form 10-K
for the fiscal year ended September 30, 2008. This compares with a net loss of
$(20,460) for the three months ending December 31, 2007, comprised of legal,
accounting, audit and other professional service fees incurred in relation to
the filing of the Company’s SEC reports and in its efforts to acquire an
operating business entity. During the three months ended December 31, 2007, the
Company incurred costs related to a Letter Agreement as disclosed in Note 3 to
the financial statements. The Company did not have expenses relating to the
Letter Agreement or any other agreement during the three months ended December
31, 2008.





For the
cumulative period from May 27, 2004 (Inception of new developmental stage) to
December 31, 2008, the Company had a net loss of $(88,565), comprised
exclusively of merchant banking fees incurred in an attempt to locate an
acquisition candidate,  financing costs and legal, accounting, audit and
other professional service fees incurred in relation to the filing of the
Company’s Registration Statement on Form 10-SB in March of 2007 and the filing
of the Company’s Quarterly and Annual Reports on Form 10-Q and Form 10-K,
respectively.





Off-Balance Sheet
Arrangements





The
Company does not have any off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on the Company’s financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that is
material to investors.





Contractual
Obligations





As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide this information.





2


Item
3. Quantitative and Qualitative Disclosures About Market Risk.





As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide information required by this Item.





Item
4T. Controls and Procedures.





Evaluation
of Disclosure Controls and Procedures





We
maintain disclosure controls and procedures that are designed to ensure that
information required to be disclosed in our reports filed pursuant to the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the SEC’s rules, regulations and related forms, and that
such information is accumulated and communicated to our principal executive
officer and principal financial officer, as appropriate, to allow timely
decisions regarding required disclosure.





As of
December 31, 2008, we carried out an evaluation, under the supervision and with
the participation of our principal executive officer and our principal financial
officer of the effectiveness of the design and operation of our disclosure
controls and procedures. Based on this evaluation, our principal executive
officer and our principal financial officer concluded that our disclosure
controls and procedures were effective as of the end of the period covered by
this report.





Changes
in Internal Controls





There
have been no changes in our internal controls over financial reporting during
the quarter ended December 31, 2008 that have materially affected or are
reasonably likely to materially affect our internal controls.





PART II — OTHER
INFORMATION





Item
1. Legal Proceedings.





To the
best knowledge of the officers and directors, the Company is not a party to any
legal proceeding or litigation.





Item
1A. Risk Factors.





As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide information required by this Item.





3


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 required by Item 601 of Regulation
    S-K.





(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 31.1
            Certification
      of principal executive 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 31.2
            Certification
      of 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 pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002





Exhibit 32.2
            Certification
      of principal financial officer pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002





*
            Filed
      as an exhibit to the Company's Registration Statement on Form 10-SB, as
      filed with the SEC on March 23, 2007, and incorporated herein by this
      reference.








(b)
            Reports
      on Form 8-K.





No
reports on Form 8-K were filed by the Company during the three months ended
December 31, 2008.








4





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 thereunto
duly authorized.





ACQUIRED
SALES CORP.





Dated:  February
15, 2009





By: /s/ Gerard M.
Jacobs


Gerard M.
Jacobs, Chief Executive Officer


(Principal
Executive Officer)





By: /s/ Gerard M.
Jacobs


Gerard M.
Jacobs,


(Principal
Financial Officer)















































5