**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**





**FORM 10-KSB/A**


**(Amendment
      No. 1)**










x
            **ANNUAL
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                EXCHANGE ACT OF 1934****For
                the fiscal year ended September 30, 2004****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 000-28339**









**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


**(F/K/A
      EASY GROUPS LIMITED)**


(Name
      of
      Small Business Issuer in Its Charter)





**NEVADA**
            
            **84-1398342**(State
                or other jurisdiction of
            
            (I.R.S.
                Employer Identification No.)incorporation
                or organization)**2F-B,
                Xieton Bldg.**
              **No.
                2 Gaoxin 2 Rd.**
              **New
                and Hi-Tech Industry Zone**
              **Xian,
                Shaanxi, China**
            
            **710000**(Address
                of principal executive offices)
            
            (Zip
                Code)




(Registrant’s
      telephone number, including area code)





Securities
      registered pursuant to Section 12(b) of the Act: **None.**




Securities
      registered pursuant to Section 12(g) of the Act:  Common Stock
      ($0.001 par value)





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





Indicate
      by check mark whether the registrant (1) has filed all reports required to
      be filed by Section 13 or 15(d) of the Exchange Act 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





Check
      if
      there is no disclosure of delinquent filers pursuant to Item 405 of
      Regulation S-B contained in this form, and no disclosure will be contained,
      to the best of registrant’s knowledge, in definitive proxy or information
      statements incorporated by reference in Part III of this Form 10-KSB or any
      amendment to this Form 10-KSB. x




Indicate
      by check mark whether the registrant is a shell company (as defined in
      Rule 12b-2 of the Exchange Act).


Yes
o
      No x




State
      issuer’s revenues for its most recent fiscal year $0.










The
      aggregate market value of the voting and non-voting common stock held by
      non-affiliates as of October 1, 2007 was approximately $30,861,297, using the
      average between the high and low price per share of $0.54, as reported on the
      PinkSheets as of such date.





The
      number of shares of registrant’s common stock outstanding as of October 1, 2007
      was 103,561,000.





**DOCUMENTS
      INCORPORATED BY REFERENCE** :


None





**China
      Bionanometer Industries Corporation**


**Annual
      Report on Form 10-KSB/A**


**(Amendment
      No. 1)**


**For
      the Year Ended September 30, 2004**





**INDEX**


PART
                  IITEM
                  1.
              Description
                  of Business
              
              2ITEM
                  1B.
              Unresolved
                  Staff Comments
              
              6ITEM
                  2.
              Description
                  of Properties
              
              6ITEM
                  3.
              Legal
                  Proceedings
              
              6ITEM
                  4.
              Submission
                  of Matters to a Vote of Security Holders
              
              7PART
                  IIITEM
                  5.
              Market
                  for Common Equity, Related Stockholder Matters  and
                  Small Business Issuer Purchases of Equity
                  Securities
              
              6ITEM
                  6.
              Management's
                  Discussion and Analysis or Plan of Operation
              
              7ITEM
                  7.
              Financial
                  Statements
              
              10ITEM
                  8.
              Changes
                  in and Disagreements with Accountants on Accounting
                  and Financial Disclosure
              
              24ITEM
                  8A.
              Controls
                  and Procedures
              
              24ITEM
                  8B.
              Other
                  Information
              
              24PART
                  IIIITEM
                  9.
              Directors
                  and Executive Officers of the Registrant
              
              25ITEM
                  10.
              Executive
                  Compensation
              
              26ITEM
                  11.
              Security
                  Ownership of Certain Beneficial Owners and Management
                  and Related Stockholder Matters
              
              26ITEM
                  12.
              Certain
                  Relationships and Related Transactions
              
              28ITEM
                  13.
              Exhibits
                  and Reports on Form 8-K
              
              28ITEM
                  14.
              Principal
                  Accountant Fees and Services
              
              29**SIGNATURES**
              
              
              **30**


Page
          1




**INFORMATION
      REGARDING FORWARD-LOOKING STATEMENTS**





This
      Annual Report on Form 10-KSB contains forward-looking statements. These
      statements relate to future events or our future financial performance. In
      some
      cases, you can identify forward-looking statements by terminology such as "may,"
      "will," "should," "expect," "plan," "anticipate," "believe," "estimate,"
      "predict," "potential" or "continue," the negative of such terms or other
      comparable terminology. These statements are only predictions. Actual events
      or
      results may differ materially.





Although
      we believe that the expectations reflected in the forward-looking statements
      are
      reasonable, we cannot guarantee future results, levels of activity, performance
      or achievements. Moreover, neither we nor any other person assumes
      responsibility for the accuracy and completeness of the forward-looking
      statements. We undertake no duty to update any of the forward-looking statements
      after the date of this report to conform such statements to actual results
      or to
      changes in our expectations.





Readers
      are also urged to carefully review and consider the various disclosures made
      by
      us which attempt to advise interested parties of the factors which affect our
      business, including without limitation the disclosures made under the caption
      "Management's Discussion and Analysis of Financial Condition and Results of
      Operations" and under the caption "Risk Factors" included herein.





**Item
      1. Business**





*History*





China
      Bionanometer Industries Corporation, formerly Easy Groups Limited, formerly
      Xvariant, Inc. (the "Company") was organized on October 24, 1996, under the
      laws
      of the State of Nevada, as "Almost Country Productions, Inc.," for the purpose
      of producing and marketing music. In approximately March 1997, the Company
      sold
      100,000 shares of its common stock at $.30 per share in an offering pursuant
      to
      Rule 504 and Section 3(b) of the Securities Act of 1933. In November, 2000
      the
      Company discontinued its music production business and actively sought new
      business opportunities.





On
      March
      15, 2001, the Company completed the acquisition of Real Estate Federation,
      Inc.
      ("REF"), pursuant to a Stock Purchase Agreement (the "Agreement") between the
      Company and the shareholders of REF. (See "Acquisition of REF"
      below).





The
      Company changed its name to "Xvariant, Inc.," in August, 2001.





In
      January, 2002, the Company completed the acquisition of 360House.com, Inc.,
      a
      Utah corporation ("360House"), pursuant to a Stock Exchange Agreement (the
      "Exchange Agreement") among the Company, 360House, and the shareholders of
      360House. (See "Acquisition of 360House" below).





In
      December 2003, the Company unwound the acquisition of 360House with its
      shareholder through settlement agreements. (See “Disposition of 360House”
below).





The
      Company changed its name to “China Ethanol Corporation” in August
      2006.





In
      September 2006, the Company completed the acquisition of Easy Groups Limited,
      a
      Hong Kong corporation (“Easy Groups”), pursuant to an Exchange Agreement among
      the Company and Easy Groups (See “Acquisition of Easy Groups”
below).





The
      Company changed its name to “Easy Groups Limited” in November 2006.





In
      January 2007, the Company rescinded the agreement between China Ethanol
      Corporation and Easy Groups. The Company on February 26, 2007 filed a Form
      8-K
      filed with the Commission stating the recession agreement between the Registrant
      and Easy Groups. (See “Recession of Easy Groups” below.)





Page
          2




In
      April
      2007, the Company completed the acquisition of FullCo Limited, a limited
      liability company organized under the laws of Hong Kong (“FullCo”), pursuant to
      an Exchange Agreement among the Company and FullCo (See “Acquisition of FullCo”
below).





The
      Company changed its name to “China Bionanometer Industries Corporation” in June
      2007.





*Acquisition
      of REF*





The
      Company acquired REF as a wholly owned subsidiary by issuing 20,500,000 shares
      of the Company's authorized common stock, 20,000,000 of which were issued to
      the
      shareholders of REF in exchange for their interests in REF, and 500,000 of
      which
      were issued as a fee to one of the Company's shareholders. The newly issued
      shares aggregated approximately 97% of the then issued and outstanding shares
      of
      the Company, and resulted in a change in control of the Company. At the closing
      of the acquisition, REF had no liabilities other than ordinary overhead
      expenditures, a real estate lease obligation, employment agreements with the
      three founders of REF, and a consulting agreement with another shareholder
      of
      REF. REF had no significant assets other than its intellectual property,
      copyrights, and computers used to deliver its service. It did, however, have
      a
      subscription agreement with one of its shareholders to provide up to $2,500,000
      in capital funding over the next one-year period. To date, the full capital
      commitment has been received and utilized to pursue Company business
      operations.





*Disposition
      of REF*





On
      or
      about October 12, 2001, 5,500,000 shares were cancelled in connection with
      Separation Agreements entered into by two of the founders, Messrs. Craig and
      Knapp. Messrs. Craig and Knapp were each reissued 100,000 shares of restricted
      common stock, and were paid $12,500 and $17,500, respectively, as reimbursement
      for all accrued salary, benefits and expenses. On or about July 12, 2002, Mr.
      Thomas Wright, a founder, agreed to cancel 4,400,000 shares owned by him
      pursuant to an employment arrangement of that date. Mr. Wright was paid a total
      of $12,500 as reimbursement for all accrued salary, benefits and expenses.
      A
      total of 500,000 shares of common stock was reissued to Mr. Wright.





*Acquisition
      of Bid Trac*





In
      November, 2001, the Company issued 450,000 shares of restricted common stock
      to
      Bid Trac, Inc. ("Bid Trac"), for the acquisition of certain assets and software
      that allowed the Company to provide an additional on-line service to its
      customers, and six contracts with customers subscribing to the service. In
      addition, the Company granted to Bid Trac, a warrant to purchase up to 600,000
      shares of common stock at an exercise price of $2.00 per share, exercisable
      at
      any time prior to November 21, 2011. The warrant provides that, in the event
      gross revenue derived from the Bid Trac service contracts was less than $200,000
      for the twelve months following the acquisition, only 300,000 shares could
      be
      purchased by Bid Trac, and if gross revenue was less than $100,000 for such
      twelve month period, then the warrant terminated and no shares could be
      purchased. Gross revenue from the Bid Trac contracts aggregated less than
      $100,000 for the initial twelve months following the acquisition.




*Acquisition
      of 360House*





In
      January, 2002, the Company completed the acquisition of 360House.com, Inc.,
      a
      Utah corporation ("360House"), under the terms of a Stock Exchange Agreement
      (the "Exchange Agreement") among the Company, 360House, and the shareholders
      of
      360House.





The
      Company acquired 360House as a wholly-owned subsidiary by initially issuing
      1,000,000 shares of the Company's authorized common stock to the shareholders
      of
      360House in exchange for all of the outstanding stock of 360House. In addition,
      the Exchange Agreement provides for the issuance of additional shares of the
      Company's common stock based on the performance of 360House. The Company has
      agreed to issue stock, including the 1,000,000 shares issued upon execution
      of
      the Agreement, at a price equal to either (a) a value equal to six times
      360House's earnings before interest, taxes, depreciation and amortization
      ("EBITDA") in the twelve month period ending December 31, 2003 ("Earnout
      Shares"); or (b) the value defined by a valuation consultant agreed to by the
      parties (the "Earnout"). Either party may demand an independent valuation,
      and
      the party making such demand must bear the cost. The value of the Company's
      common stock for purposes of the Earnout, shall be calculated based on the
      average closing price of the stock for the 30 trading days prior to December
      31,
      2003.




Page
          3





At
      the
      closing of the acquisition, 360House had no significant tangible assets except
      computers, office furniture and equipment, and general files for its three
      employees. It had what it believed was, however, significant and valuable
      intellectual property, including, trademarks and internally developed software
      and web technology. 360House had no liabilities other than ordinary overhead
      expenditures, and employment agreements with Glade Jones, the President of
      360House, and Andy Evans, the founder and Chief Technical Officer of 360House.
      Although the employment agreements are obligations of 360House, the Company
      assumed the obligations to ensure that the salaries were paid for the six months
      following the acquisition to the extent that 360House did not have the cash
      flow
      to satisfy the salary obligations. Additionally, the Company had the obligation,
      for a period of six months from the acquisition, to ensure that 360House
      operating expenses were paid to the extent there was a cash shortfall in
      360House in meeting such expenses, which condition has been
      satisfied.





The
      Exchange Agreement contained an option allowing the shareholders of 360House
      to
      unwind the transaction in certain events. In the event the shareholders of
      360House did not want to accept the Earnout Shares at December 31, 2003, they
      could surrender all of their shares in the Company and all of the issued and
      outstanding common stock of 360House shall be returned to the shareholders
      of
      360House. In such event, however, the Company had the option to retain the
      360House shares and pay the value calculated at December 31, 2003 to the
      360House shareholders in cash. Neither of the alternatives were acceptable
      to
      either the Company or the shareholders. The Company and the shareholders
      prepared settlement documents reflecting a position somewhere in between the
      two
      positions outlined in the Exchange Agreement, and the acquisition was
      unwound.





*Disposition
      of 360House*





In
      December 2003, as stated above, the Company unwound the acquisition of 360House
      with its shareholders through settlement agreements. In these agreements, the
      Company returned all shares it had received from 360House and 360House returned
      the 1,000,000 shares of stock in the Company.





*Acquisition
      of Easy Groups Limited*





Pursuant
      to an Exchange Agreement (the "Agreement") effective September 29, 2006, and
      its
      contemplated transaction that closed October 1, 2006, (the "Closing"), the
      Registrant acquired all of the issued and outstanding capital stock and
      underlying business of Easy Groups Limited and all related companies, including
      but not limited to Easy Dynamic Advertising (Exterior Walls) Limited (herein
      referred to as “Easy Groups”) which is an outdoor advertising company (the
      "Business") in exchange for Forty Two Million Five Hundred Twenty-Seven Thousand
      (42,527,000) shares of common stock of the Registrant, which includes shares
      issued to third party consultants as a material part of this transaction in
      consideration of services rendered. As a result, the shareholders and affiliates
      of Easy Groups (collectively, the “Easy Groups Shareholders”) gained control of
      the Registrant.





Prior
      to
      the Agreement, the Registrant had 13,561,000 shares of common stock issued
      and
      outstanding. Upon the Closing of the transaction, the Registrant had 56,088,000
      shares of common stock outstanding.


(See
      the
      Form 8-K filed with the Commission on November 3, 2006 *.* )





*Recession
      of Easy Groups Limited Exchange Agreement*





On
      February 2, 2007 China Ethanol Corporation and Easy Groups Limited entered
      into
      a Rescission Agreement due to Easy Groups being unable to produce audited
      financial statements on a pro forma basis in the required filings of the annual
      and quarterly filings.




Page
          4


Easy
        Groups Limited agreed to deliver to China Ethanol Corporation an aggregate
        of
        Forty-Two Million Five Hundred Twenty-Seven Thousand (42,527,000) shares
        of
        China Ethanol Corporation’s Common Stock for cancellation and return to the
        Company’s treasury.
 
 Prior
        to
        the Agreement, there was a commitment to issue 42,527,000 shares of China
        Ethanol Corporation which would have resulted in a total of 56,088,000 shares
        of
        common stock outstanding, however, no shares were issued which results in
        only
        13,561,000 shares of common stock issued and outstanding.
 
 *Acquisition
        of FullCo Limited*
 
 On
        April
        27, 2007, Easy Groups Limited, a Nevada corporation (the “Registrant” or “Easy
        Groups”) entered into an Agreement and Plan of Share Exchange (“Exchange
        Agreement”), FullCo Industrial Limited, a limited liability company incorporated
        under the laws of the Hong Kong, China (“FullCo”) and each of the shareholders
        of the FullCo (“FullCo Shareholders”). FullCo is specialized in research and
        development, production and sale of nanometer level health food, cosmetic,
        biologic antibacterial disinfecting product, as well as Chinese traditional
        medicine products. The company obtains the state authentication of high and
        new
        technology enterprise and is simultaneously an academician enterprise in
        the
        hi-tech zone.
  Upon
        consummation of the Exchange Agreement on the Closing Date, Easy Groups will
        acquire FullCo by issuing 90,000,000 shares of its common stock (the “Easy
        Groups Shares”) to the FullCo Shareholders and consultants, and in exchange,
        FullCo Shareholders shall assign 100% of the outstanding common stock of
        the
        FullCo to Easy Groups. As a result of the transactions contemplated under
        the
        Exchange Agreement, (1) Easy Groups would acquire the business and operations
        of
        the FullCo, and (2) Easy Group’s principal business activities shall consist of
        the business of FullCo,
 
 In
        connection with the execution of the Exchange Agreement, Easy Groups, FullCo
        and
        Xi’an Landway are entering into a Guarantee and Assumption Agreement (“Guarantee
        Agreement”), under which the FullCo and Xi’an Landway shall agree to be jointly
        and severally liable with FullCo and the FullCo Shareholders for each and
        every
        obligation and liability of FullCo and the FullCo Shareholders under the
        Exchange Agreement as if it were a party to the Exchange Agreement.
 
 Easy
        Group’s completion of the transactions contemplated under the Exchange Agreement
        are subject to the satisfaction of certain contingencies including, without
        limitation, the delivery of U.S. GAAP audited annual, interim reviewed and
        pro
        forma financial information of FullCo (on a consolidated basis with the FullCo
        and Xi’an Landway) acceptable to Easy Groups, compliance with regulatory
        requirements, and the execution of the Restructuring Agreements. Consummation
        of
        the exchange transaction is also conditioned upon, among other things, continued
        quotation of Easy Group’s common stock on the OTCBB
 
 *Business
        of Company*
 
 At
        this
        time, the Company has no viable business operations and is searching for
        business operations that can be incorporated into the Company.
 
 *Employees*
 
 The
        Company employs 2 person at the Company's executive offices.
 
 *Government
        Regulation*
 
 The
        Company's business activities are subject only to general governmental
        regulations.
  Page
            5
  **Item
        1B. Unresolved Staff Comments**
 
 None.
 
 **Item
        2. Properties**
 
 The
        executive offices of the Company are located at 2F-B, Xieton Bldg., No. 2
        Gaoxin
        2 Rd., New and Hi-Tech Industry Zone, Xian, Shaanxi, China.
 
 **Item
        3. Legal Proceedings**
 
 We
        are
        not involved in any material pending legal proceedings at this time, and
        management is not aware of any contemplated proceeding by any governmental
        authority.
 
 **Item
        4. Submission of Matters to a Vote of Security Holders**
 
 None.
 
 **PART
        II.**
 
 **Item
        5. Market for Common Equity, Related Stockholder Matters and Small Business
        Issuer Purchases of Equity Securities**
 
 The
        Company’s common stock is currently traded in the Pink Sheets under the symbol
“CBIU” (formerly “ESYL”). The Company’s stock began trading on November 20,
        2000. The following table sets forth, for the respective periods indicated,
        the
        high and low quotations, as adjusted for stock splits of the Company’s common
        stock, as reported by the National Quotation Bureau, and represents prices
        between dealers, does not include retail markups, markdowns or commissions,
        and
        may not represent actual transactions:
 
 **Fiscal
                  2003**
              
              **High**
              
              **Low**Quarter
                  ending December 31, 2002
              
              $
              3.20
              
              $
              2.90Quarter
                  ending March 31, 2003
              
              
              3.10
              
              
              2.80Quarter
                  ending June 30, 2003
              
              
              3.00
              
              
              2.80Quarter
                  ending September 30, 2003
              
              
              0.80
              
              
              0.60


**Fiscal
                    2004**Quarter
                    ending December 31, 2003
                
                
                2.00
                
                
                0.38Quarter
                    ending March 31, 2004
                
                
                0.38
                
                
                0.20Quarter
                    ending June 30, 2004
                
                
                0.20
                
                
                0.20Quarter
                    ending September 30, 2004
                
                
                0.20
                
                
                0.20
 *Payment
        of Dividends*
 
 As
        of the
        date hereof, the Company has not paid or declared any cash dividends. Future
        payment of dividends by the Company, if any, is at the discretion of the
        Board
        of Directors and will depend, among other criteria, upon the Company’s earnings,
        capital requirements, and its financial condition as well as other relative
        factors. Management intends to retain any and all earnings to finance the
        development of its business, at least in the foreseeable future. Such a policy
        is likely to be maintained as long as necessary to provide working capital
        for
        the Company’s operations.
 
 *Recent
        Sales of Unregistered Securities*
 
 There
        were no sales of unregistered securities during the fourth quarter of the
        fiscal
        year ended September 30, 2004.
  Page
            6
  **Item
        6. Management's Discussion and Analysis or Plan of
        Operation**
 
 Forward
        Looking Statements
 
 The
        information in this discussion contains forward-looking statements within
        the
        meaning of Section 27A of the Securities Act of 1933, as amended, and Section
        21E of the Securities Exchange Act of 1934, as amended. These forward-looking
        statements involve risks and uncertainties, including statements regarding
        our
        capital needs, business strategy and expectations. Any statements contained
        herein that are not statements of historical facts may be deemed to be
        forward-looking statements. In some cases, you can identify forward-looking
        statements by terminology such as "may", "will", "should", "expect", "plan",
        "intend", "anticipate", "believe", "estimate", "predict", "potential" or
        "continue", the negative of such terms or other comparable terminology. Actual
        events or results may differ materially. We disclaim any obligation to publicly
        update these statements, or disclose any difference between its actual results
        and those reflected in these statements. The information constitutes
        forward-looking statements within the meaning of the Private Securities
        Litigation Reform Act of 1995.
 
 *Plan
        of Operation*
 
 At
        this
        time, the Company has no viable business operations and is searching for
        business operations that can be incorporated into the Company. However, the
        below Results of Operations include all business activities prior to termination
        of business agreements or the recession of such agreements.
 
 *Results
        of Operations*
 
 *Revenues*
 
 The
        Company has generated a total of $0 in revenue for the year ended September
        30,
        2004, compared with revenue of $0 for the year ended September 30, 2003.
        The
        lack of revenue is due primarily to the termination of the 360House acquisition
        and the Company no longer providing TourMaxx services.
 
 *Operating
        Expenses*
 
 The
        Company incurred total operating expenses of $0 for the year September 30,
        2004,
        compared to total operating expenses of $0 for the year ended September 30,
        2003. The lack of expenses is primarily due to the termination of the 360House
        acquisition and the Company no longer providing TourMaxx services.
 
 *Net
        Losses*
 
 The
        Company had a net loss in the amount of $1,068,585 for the year ended September
        30, 2004 compared to a net loss of $2,193,025 for the year ended September
        30,
        2003. The net loss decreased by $1,124,440 due to the Company no longer
        reporting losses from 360House operations due to the termination of the 360House
        acquisition and the Company no longer providing TourMaxx services.
 
 *Liquidity
        and Capital Resources*
 
 At
        September 30, 2004, the Company had cash of $0, total current assets of $0,
        current liabilities of $65,383, and total stockholders' equity deficit of
        $65,383. The Company experienced negative cash flow from operations during
        the
        fiscal year ended September 30, 2004 of $673,840 which was met by investor
        capital contributions. With the discontinued operations the Company is now
        considered to be again in the development stage. The Company expects to continue
        to experience negative cash flow until it is able to acquire or develop
        substantial operations.
  Page
            7
 
 The
        Company will continue to have the need for infusions of capital. To date,
        the
        Company has met its working capital needs through payments under subscription
        agreements or contributed capital and anticipates that such payments will
        continue over the next several months. Additional investor capital infusions
        will result in greater dilution to the existing shareholders. Therefore,
        future
        equity contributions may depend, to some extent, on results of acquiring
        or
        developing operations. There can be no assurance that the Company will be
        able
        to attract new investors or that the current venture investors will continue
        to
        fund operations. In such event as the loss of current funding there is no
        assurance that the Company will be able to locate a source of capital, or
        on
        terms acceptable to the Company or to reduce costs sufficient to maintain
        the
        operations of the Company at its current level.
 
 *Recent
        Accounting Pronouncements*
 
 Statement
        of Financial Accounting Standards (SFAS) No. 141, "Business Combinations,"
        SFAS
        No. 142, "Goodwill and Other Intangible Assets", SFAS No. 143, "Accounting
        for
        Asset Retirement Obligations," and SFAS No. 144, "Accounting for the Impairment
        or Disposal of Long-Lived Assets," were recently issued. SFAS No. 141, 142,
        143,
        and 144 have no current applicability to the Company or their effect on the
        financial statements would not have been significant.
 
 In
        April
        2002, the FASB issued Statement No. 145 "Rescission of FASB Statements No.
        4,
        44, and 62, Amendment of FASB Statement No. 13, and Technical Corrections"
        (SFAS
        145). SFAS 145 will require gains and losses on extinguishments of debt to
        be
        classified as income or loss from continuing operations rather than as
        extraordinary items as previously required under Statement of Financial
        Accounting Standards No. 4 (SFAS 4). Extraordinary treatment will be required
        for certain extinguishments as provided in APB Opinion No. 30. SFAS 145 also
        amends Statement of Financial Accounting Standards No. 13 to require certain
        modifications to capital leases be treated as a sale-leaseback and modifies
        the
        accounting for sub-leases when the original lessee remains a secondary obligor
        (or guarantor). SFAS 145 is effective for financial statements issued after
        May
        15, 2002, and with respect to the impact of the reporting requirements of
        changes made to SFAS 4 for fiscal years beginning after May 15, 2002. The
        adoption of the applicable provisions of SFAS 145 did not have an effect
        on our
        financial statements.
 
 In
        June
        2002, the FASB issued Statement No. 146, "Accounting for Costs Associated
        with
        Exit or Disposal Activities." SFAS 146 nullifies Emerging Issues Task Force
        Issue No. 94-3 "Liability Recognition for Certain Employee Termination Benefits
        and Other Costs to Exit an Activity (including Certain Costs Incurred in
        a
        Restructuring)." SFAS 146 applies to costs associated with an exit activity
        that
        does not involve an entity newly acquired in a business combination or with
        a
        disposal activity covered by SFAS 144. SFAS 146 is effective for exit or
        disposal activities that are initiated after December 31, 2002, with earlier
        application encouraged. We are currently reviewing SFAS 146 and intend to
        implement them no later than January 1, 2003.
 
 In
        October 2002, the FASB issued Statement No. 147 "Acquisitions of Certain
        Financial Institutions an amendment of FASB Statements No. 72 and 144 and
        FASB
        Interpretation No. 9" (SFAS 147). SFAS 147 removes acquisitions of financial
        institutions from the scope of both Statement 72 and Interpretation 9 and
        requires that those transactions be accounted for in accordance with FASB
        Statements No. 141, Business Combinations, and No. 142, Goodwill and Other
        Intangible Assets. Thus, the requirement in paragraph 5 of Statement
        72 to recognize (and subsequently amortize) any excess of the fair value
        of
        liabilities assumed over the fair value of tangible and identifiable intangible
        assets acquired as an unidentifiable intangible asset no longer applies to
        acquisitions within the scope of this Statement. In addition, this Statement
        amends FASB Statement No. 144, Accounting for the Impairment or Disposal
        of
        Long-Lived Assets, to include in its scope long-term customer-relationship
        intangible assets of financial institutions such as depositor- and
        borrower-relationship intangible assets and credit cardholder intangible
        assets.
        Consequently, those intangible assets are subject to the same undiscounted
        cash
        flow recoverability test and impairment loss recognition and measurement
        provisions that Statement 144 requires for other long-lived assets that are
        held
        and used. SFAS 147 is effective October 1, 2002. The adoption of the applicable
        provisions of SFAS 147 did not have an effect on our consolidated financial
        statements.
  Page
            8
 
 In
        December 2002, the FASB issued Statement No. 148 "Accounting for Stock-Based
        Compensation Transition and Disclosure an amendment of FASB Statement No.
        123"
        (SFAS 148). SFAS 148 provides alternate methods of transition for a voluntary
        change to the fair value based method of accounting for stock-based employee
        compensation. In addition, this Statement amends the disclosure requirements
        of
        Statement 123 to require prominent disclosures in both annual and interim
        financial statements about the method of accounting for stock-based employee
        compensation and the effect of the method used on reporting results. SFAS
        148 is
        effective for fiscal years beginning after December 15, 2003. We are currently
        reviewing SFAS 148.
  Page
            9


**Item
      7. Financial Statements**


page21 logo




Page
          10




INDEPENDENT
      AUDITORS’ REPORT





The
      Board
      of Directors


Xvariant,
      Inc. and Subsidiaries


Salt
      Lake
      City, Utah





We
      have
      audited the accompanying consolidated balance sheet of Xvariant, Inc. and
      Subsidiaries as of September 30, 2003 and the related statements of operations,
      stockholders’ equity (deficit), and cash flows for the year then ended. These
      consolidated financial statements are the responsibility of the Company’s
      management. Our responsibility is to express an opinion on these consolidated
      financial statements based on our audit.





We
      conducted our audit in accordance with auditing standards generally accepted
      in
      the United States of America. Those standards require that we plan and perform
      the audit to obtain reasonable assurance about whether the consolidated
      financial statements are free of material misstatement. An audit includes
      examining, on a test basis, evidence supporting the amounts and disclosures
      in
      the consolidated financial statements. An audit also includes assessing the
      accounting principles used and significant estimates made by management, as
      well
      as evaluating the overall consolidated financial statement presentation. We
      believe that our audit provide a reasonable basis for our opinion.





In
      our
      opinion, the consolidated financial statements referred to above present fairly,
      in all material respects, the consolidated financial position of Xvariant,
      Inc.
      and Subsidiaries as of September 30, 2003 and the results of their operations
      and their cash flows for the year then ended, in conformity with accounting
      principles generally accepted in the United States of America.





The
      accompanying consolidated financial statements have been prepared assuming
      that
      the Company will continue as a going concern. As discussed in Note 3 to the
      September 30, 2003 consolidated financial statements, the Company has a
      stockholders’ deficit and negative working capital along with cumulative loses
      from operations, all of which raise substantial doubt about its ability to
      continue as a going concern. Management’s plans with regard to these matters are
      also described in Note 3 to the September 30, 2003. The consolidated financial
      statements do not include any adjustments that might result from the outcome
      of
      this uncertainty.





/s/
      HJ
& Associates, LLC





HJ
&
      Associates, LLC


Salt
      Lake
      City, Utah


May
      3,
      2004




Page
          11




**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Balance
                Sheets**September
                30,2004
            
            2003**ASSETS**Current
                AssetsCash
            
            $
            -
            
            $
            -Accounts
                Receivable - Net
            
            
            -
            
            
            -Total
                Current Assets
            
            
            -
            
            
            -Net
                Assets of Discontinued Operations
            
            
            -
            
            
            143,637Total
                Assets
            
            $
            -
            
            $
            143,637**LIABILITIES
                AND STOCKHOLDERS' EQUITY**Current
                LiabilitiesTrade
                accounts payable and accrued expenses
            
            $
            -
            
            $
            -Net
                Liabilities of Discontinued Operations
            
            
            65,383
            
            
            1,145,755Total
                Current Liabilities
            
            
            65,383
            
            
            1,145,755Total
                Liabilities
            
            
            65,383
            
            
            1,145,755Stockholders'
                EquityCommon
                Stock,$0.001 par value, 50,000,000 sharesauthorized;
                13,561,100 shares issued and outstandingSeptember
                30, 2004 and September 30, 2003,respectively
            
            
            13,561
            
            
            13,561Paid
                in Capital
            
            
            3,975,633
            
            
            3,990,193Accumulated
                Deficit
            
            
            (4,054,577
            )
            
            (5,005,872
            )Total
                Stockholders' Equity
            
            
            (65,383
            )
            
            (1,002,118
            )Total
                Liabilities and Stockholders' Equity
            
            $
            -
            
            $
            143,637The
                accompanying notes are an integral part of these
                statements





Page
          12





**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Consolidated
                Statements of Operations**Year
                EndedSeptember
                30,2004
            
            2003Revenue,
                net
            
            $
            -
            
            $
            -Cost
                of Sales
            
            
            -
            
            
            -Gross
                Margin
            
            
            -
            
            
            -Operating
                ExpensesGeneral
                and Administrative
            
            
            -
            
            
            -Advertising
            
            
            -
            
            
            -Depreciation
                and Amortization
            
            
            -
            
            
            -Total
                Operating Expenses
            
            
            -
            
            
            -Loss
                From Operations
            
            
            -
            
            
            -Extraordinary
                Items:Discontinued
                Operations
            
            
            346,914
            )
            
            2,193,025
            )Loss
                on Disposal of Discontinued Operations
            
            
            721,671
            )
            
            -Total
                other Income (Expense)
            
            
            1,068,585
            )
            
            2,193,025
            )Net
                (Loss)
            
            
            (1,068,585
            )
            
            (2,193,025
            )Basic
                and Diluted(Loss)
                per ShareContinuing
                Operations
            
            $
            0.00
            
            $
            0.00Discontinued
                Operations
            
            $
            0.08
            
            $
            0.16Weighted
                AverageNumber
                of Shares
            
            
            13,561,100
            
            
            13,561,100The
                accompanying notes are an integral part of these
                statements




Page
          13




**CHINA
                  BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                  Easy Groups Limited)****Consolidated
                  Statement of Stockholders' Equity/(Deficit)**Common
                  Stock
              
              Paid
                  in
              
              Subscription
              
              Accumulated
              
              TotalShares
              
              Amount
              
              Capital
              
              Receivable
              
              (Deficit)
              
              Equity**Balance,
                  October 1, 2002**
              
              
              13,561,100
              
              $
              13,561
              
              $
              3,914,491
              
              $
              (425,540
              )
              $
              (2,812,847
              )
              
              689,665Payment
                  received oncommon
                  stock subscription
              
              
              -
              
              
              -
              
              
              (12,600
              )
              
              425,540
              
              
              -
              
              
              412,940Stock
                  option expense
              
              
              -
              
              
              -
              
              
              88,302
              
              
              -
              
              
              -
              
              
              88,302Net
                  (Loss)
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (2,193,025
              )
              
              (2,193,025
              )**Balance,
                  September 30, 2003**
              
              
              13,561,100
              
              
              13,561
              
              
              3,990,193
              
              
              -
              
              
              (5,005,872
              )
              
              (1,002,118
              )Dissolution
                  of Acquisition
              
              
              -
              
              
              -
              
              
              (688,400
              )
              
              -
              
              
              2,019,880
              
              
              1,331,480Contributed
                  Capital
              
              
              -
              
              
              -
              
              
              673,840
              
              
              -
              
              
              -
              
              
              673,840Net
                  (Loss)
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (1,068,585
              )
              
              (1,068,585
              )**Balance,
                  September 30, 2004**
              
              
              13,561,100
              
              $
              13,561
              
              $
              3,975,633
              
              $
              -
              
              $
              (4,054,577
              )
              $
              (65,383
              )The
                  accompanying notes are an integral part of these
                  statements




Page
          14




**CHINA
                BIONANOMETER INDUSTRIES CORPORATION****(F/K/A
                Easy Groups Limited)****Consolidated
                Statements of Cash Flows**Year
                EndedSeptember
                30,2004
            
            2003Operating
                ActivitiesNet
                Income (Loss)
            
            $
            (1,068,585
            )
            $
            (2,193,025
            )Adjustments
                to reconcile net income (Loss):Stock
                issued for services
            
            
            -
            
            
            88,302Depreciation
            
            
            30,232
            
            
            105,064Gain
                on Forgiveness of debt
            
            
            -
            
            
            (20,566
            )Disposal
                of Subsidiary
            
            
            1,331,480
            
            
            -Bad
                Debt Expense
            
            
            -
            
            
            65,755Impairment
                of goodwill
            
            
            -
            
            
            1,068,047Balance
                Sheet Adjustments:(Increase)
                Decrease in Accounts Receivable
            
            
            96,156
            
            
            (56,250
            )Increase
                (Decrease) in Accounts Payable
            
            
            (398,437
            )
            
            156,272Increase
                (Decrease) in Payable -Related Party
            
            
            (320,600
            )
            
            146,899Increase
                (Decrease) in Deferred Revenue
            
            
            (12,637
            )
            
            (1,788
            )Increase
                (Decrease) in Accrued Liabilities
            
            
            (303,040
            )
            
            -Increase
                (Decrease) in Capital Leases
            
            
            (3,164
            )
            
            (27,381
            )Net
                Cash (Used) by Operating Activities
            
            
            (648,595
            )
            
            (668,671
            )Investing
                ActivitiesDisposal/(Purchase)
                of Equipment
            
            
            16,113
            
            
            (10,038
            )Cash
                (used) in Investing Activities
            
            
            16,113
            
            
            (10,038
            )Financing
                ActivitiesProceeds/(Repayment)
                Notes -Related Parties
            
            
            
            
            
            (73,314
            )Contributed
                Capital
            
            
            673,840
            
            
            299,540Increase/(Decrease)
                in Cash Overdraft
            
            
            (42,494
            )
            
            35,552Proceeds
                from Sale of Common Stock
            
            
            -
            
            
            412,940Cash
                provided by financing
            
            
            631,346
            
            
            674,718Net
                Increase (Decrease) in Cash
            
            
            (1,136
            )
            
            (3,991
            )Cash,
                Beginning of Period
            
            
            1,136
            
            
            5,127Cash,
                End of Period
            
            $
            -
            
            $
            1,136Supplemental
                InformationTaxes
            
            $
            -
            
            $
            -Interest
            
            $
            33,461
            
            $
            17,733The
                accompanying notes are an integral part of these
                statements




Page
          15





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


**(F/K/A
      Easy Group Limited)**





**Notes
      to the Consolidated Financial Statements**


(September
      30, 2004 and 2003)





**NOTE
      1- ORGANIZATION AND BUSINESS ACTIVITY**





China
      Bionanometer Industries Corporation (The Company) was incorporated under the
      laws of the state of Nevada on October 24, 1996, under the name Almost Country
      Productions, Inc. and changed its name to Xvariant, Inc. (Xvariant) in August,
      2001 and subsequent to the period reported on these statements the Company
      changed its name to China Ethanol Corporation on August 28, 2006 and finally
      to
      Easy Groups Limited on November 17, 2006.





On
      March
      15, 2001, Xvariant acquired Real Estate Federation, Inc. ("REF") in a
      transaction recorded as a recapitalization of REF with Xvariant being the legal
      survivor and REF being the accounting survivor and the operating entity.REF
      was
      established to provide technology for the real estate market that enhances
      the
      use of the Internet in the home-buying process. The technology allows potential
      homebuyers to search for real estate properties from all participating real
      estate brokers' listings. REF had a wholly owned subsidiary, Xvariant, Inc.
      (a
      Utah corporation) which designed web sites for real estate brokers along with
      other real estate related services. Xvariant (the Utah corporation) was disposed
      of in October 2001.





During
      January 2002, Xvariant executed the acquisition of 360House.com,Inc. (360House),
      pursuant to a stock exchange agreement. Xvariant acquired 360House by issuing
      1,000,000 shares of common stock to the shareholders of 360House in exchange
      for
      all of the issued and outstanding shares of 360House. In addition, the exchange
      agreement provides for issuance of additional shares of Xvariant's common stock
      based on the performance of 360House. Xvariant agreed to issue common stock,
      including the 1,000,000 shares issued upon execution of the agreement, at a
      price equal to either 1) a value equal to six times 360House's earnings before
      interest, taxes, depreciation, and amortization during the twelve month period
      ending December 31, 2003; or 2) the value defined by a valuation consultant
      mutually agreeable by the parties. Either party may demand an independent
      valuation. 360House provides services to the real estate industry principally
      in
      the form of photographic virtual tours of real estate properties available
      for
      viewing on the internet and other video media.





During
      December 2003 the company dissolved the acquisition of 360House because
      performance was not at the expected level.





The
      Company was engaged in the development of technology and Internet services
      targeted at the real estate industry and were considered to be in the
      development stage through December 31, 2001. The Company began substantial
      operations in January 2002 with the acquisition of 360house and became an
      operating company during the year ended September 30, 2003.





The
      consolidated financial statements include Xvariant and its wholly owned
      subsidiaries, Real Estate Federation, Inc. however, with the dissolution of
      the
      acquisition of 360House.com, Inc., the financials have been reclassified to
      remove the activity of 360House.com, Inc. All significant intercompany accounts
      and transactions have been eliminated.





Effective
      August 28, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from XVARIANT, INC. to China Ethanol
      Corporation.





On
      November 27, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from China Ethanol Corporation to Easy Groups Limited.





Subsequent
      to September 30, 2004 the Company reentered the development stage.




Page
          16





**NOTE
      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**





a.
      Accounting Methods





The
      Company's consolidated financial statements are prepared using the accrual
      method of accounting. The Company has elected a September 30, year-end. 360House
      has a December 31, year end with the accompanying consolidated financial
      statements including the results of financial position and results of operations
      of 360House as of and for the nine months ended September 30, 2002 which
      approximates the period from the date of its acquisition by
      Xvariant.





b.
      Accounts Receivable





The
      Company evaluated its accounts receivable and found that it was all in excess
      of
      120 days old and increased its allowance for doubtful accounts of to $155,761
      as
      of March 31, 2004 leaving a balance in accounts receivable of
      $0.00.





c.
      Property and Equipment





Property
      and equipment is recorded at cost. Major additions and improvement are
      capitalized. The cost and related accumulated depreciation of equipment retired
      or sold are removed from the accounts and any differences between the
      undepreciated amount and the proceeds from the sale are recorded as gain or
      loss
      on sale of equipment. Depreciation is computed using the straight-line method
      over the estimated useful life of the assets as follows:





Description
            
            Estimated
                Useful LifeFurniture
                and fixtures
            
            3-4
                yearsMachinery
                and equipment
            
            3
                yearsComputers
            
            3
                years




d.
      Goodwill





As
      of
      January 1, 2002, the Company adopted Statement of Financial Accounting Standard
      (SFAS) No. 142, "Goodwill and Other Intangible Assets" (SFAS 142). SFAS 142
      requires the accounting for goodwill on an impairment-only approach. SFAS 142
      requires that goodwill be tested for impairment annually, or more frequently
      if
      circumstances indicate potential impairment, by comparing the fair value of
      the
      asset to its carrying amount. Such testing requires, that each of the Company's
      reporting units, as defined in SFAS 142, be identified and that the Company's
      assets and liabilities, including the existing goodwill and intangible assets,
      be assigned to those reporting units. The Company has determined that it has
      a
      single reporting unit attributable to its goodwill. SFAS 142 also requires
      the
      Company to assess the fair value of the Company. In determining fair value,
      the
      Company considered the guidance in SFAS 142, including the Company's market
      capitalization, control premiums, discounted cash flows and other indicators
      of
      fair value. Based on this analysis, goodwill totaling $1,068,047 was impaired
      at
      September 30, 2003.





e.
      Estimates





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




Page
          17


f.
      Advertising





The
      Company follows the policy of charging the costs of advertising to expense
      as
      incurred. During the years ended September 30, 2004 and 2003, the Company
      expensed $0 and $0 respectively.


g.
      Revenue Recognition





The
      Company recognizes revenue from real estate lead commissions as escrow is
      closed. Revenue from photographic virtual tours and related services are
      recognized as projects are completed and available for viewing. Revenue is
      recognized on other services rendered as they are performed.





h.
      Stock
      Options





As
      permitted by FASB Statement 123 and amended by SFAS No. 148 "Accounting for
      Stock Based Compensation" (SFAS No. 123), the Company elected to measure and
      record compensation cost relative to employee stock option costs in accordance
      with Accounting Principles Board ("APB") Opinion 25, "Accounting for Stock
      Issued to Employees," and related interpretations and make pro-forma disclosures
      of net income and earnings per share as if the fair value method of valuing
      stock options had been applied. Under APB Opinion 25, compensation cost is
      recognized for stock options granted to employees when the option price is
      less
      that the market price of the underlying common stock on the date of
      grant.





i.
      Technology Development and Website Designs





The
      costs
      of computer software developed or obtained for internal use, during the
      preliminary project phase, as defined under Statement of Position 98-1
      "Accounting for the Costs of Computer Software Developed or obtained for
      Internal use", are expensed as incurred. The costs of web site development,
      during the planning stage, as defined under Emerging Issues Task Force No.
      00-2
      "Accounting for Web Site Development Costs", are expenses as incurred. Computer
      software and web site development costs incurred during the application and
      infrastructure development stage, including external direct costs of materials
      and services consumed in developing software, creating graphics and web site
      content, payroll, and interest costs, are capitalized and amortized over the
      estimated useful life, beginning when the software is ready for use and after
      all substantial testing is completed and the web site is operational. Any costs
      incurred since the web site and related software have become operational have
      been expenses as incurred.





**NOTE
      3 - GOING CONCERN**





The
      Company's consolidated financial statements are prepared using generally
      accepted accounting principles 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. The Company has incurred losses
      which have resulted in an accumulated deficit of $4,054,577 at September 30,
      2004, and has limited internal financial resources. These factors combined
      raise
      substantial doubt about the Company's ability to continue as a going concern.
      The accompanying consolidated financial statements do not include any
      adjustments relating to the recoverability and classification of asset carrying
      amounts or the amount and classification of liabilities that might result from
      the outcome of this uncertainty.





The
      Company expects that growth in revenue from operations will continue to
      increase. Accordingly, the Company believes that based on these factors, it
      has
      the ability to sustain operations for the next twelve months. However, there
      can
      be no assurance that generation of operating revenues and collection of the
      subscription receivable will be sufficient to enable the Company to maintain
      its
      operations. If the Company's plans are not successful, it will be necessary
      for
      the Company to secure additional debt and equity financing which also cannot
      be
      assured.




Page
          18




**NOTE
      4 - ASSET PURCHASE**





During
      November 2001, pursuant to an asset purchase agreement, the Company issued,
      to
      an unrelated entity, 450,000 shares of its common stock and agreed to issue
      up
      to an additional 600,000 in the form of a warrant with a term of 10 years
      exercisable at $2.00 per share. The exercise of the warrants is contingent
      upon
      gross revenue derived from the assets purchased as follows:





If
      gross
      revenue generated from the assets purchased was greater than $200,000 for the
      twelve months following the acquisition, all 600,000 warrants were to be
      available for exercise. If gross revenue was less than $200,000 only 300,000
      warrants were to be exercisable and if gross revenue were less than $100,000
      none of the warrants would be exercisable. At September 30, 2003, none of the
      revenue thresholds had been achieved and no warrants were exercisable in
      conjunction with the asset purchase. Subsequent to September 30, 2003, and
      upon
      the expiration of the 12-month period from the date of the execution of the
      asset purchase agreement, none of the revenue thresholds had been met.
      Accordingly, no warrants to purchase shares of the Company's common stock
      pursuant to that agreement are exercisable.





The
      assets purchased in connection with this transaction consisted of various items
      including customer contracts and software. The assets were valued at $70,000
      on
      the date of purchase based on the net present value of the contracts acquired.
      Amortization expense of $35,000 has been recorded during the year ended
      September 30, 2003.





In
      February 2003, the Company purchased the assets of Virtually Anywhere in
      consideration for 20% paid to Seller for each qualified virtual tour ordered
      by
      qualified customer for a period of 24 months from closing date. With the
      purchase, the Company acquired all books and records relating to the ownership
      and operation of the business, including intangible assets.




**NOTE
      5 - DISSOLUTION OF BUSINESS COMBINATION AND DISCONTINUED
      OPERATIONS**





During
      January 2002, Xvariant executed the acquisition of 360House.com, Inc.
      (360House), pursuant to a stock exchange agreement. Xvariant acquired 360House
      by issuing 1,000,000 shares of common stock to the shareholders of 360House
      in
      exchange for all of the issued and outstanding shares of 360House. In addition,
      the exchange agreement provides for issuance of additional shares of Xvariant's
      common stock based on the performance of 360House.





Xvariant
      agreed to issue common stock, including the 1,000,000 shares issued upon
      execution of the agreement, at a price equal to either 1) a value equal to
      six
      times 360House's earnings before interest, taxes, depreciation, and amortization
      during the twelve month period ending December 31, 2003; or 2) the value defined
      by a valuation consultant mutually agreeable by the parties. Either party may
      demand an independent valuation. 360House provides services to the real estate
      industry principally in the form of photographic virtual tours of real estate
      properties available for viewing on the internet and other video
      media.





During
      December 2003 the company dissolved the acquisition of 360House because
      performance was not at the expected level. Because of the prior impairment
      of
      goodwill the dissolution resulted in a net gain on dissolution of $1,331,480
      as
      a result of the following equity adjustments:


Paid
                    in CapitalBefore
                    Dissolution
                
                $
                3,990,193Adjustment
                
                
                (688,400
                )Adjusted
                    Paid in Capital
                
                $
                3,301,793
  Accumulated
                  DeficitBefore
                  Dissolution
              
              $
              (5,005,872
              )Adjustment
              
              
              2,019,880Adjusted
                  Paid in Capital
              
              $
              (2,985,992
              )
  Adjustment
                    to Paid in Capital
                
                $
                (688,400Adjustment
                    to Accumulated Deficit
                
                
                2,019,880Gain
                    on dissolution
                
                $
                1,331,480


Page
          19






**BALANCE
        SHEETS**


The
      condensed financial statements of the discontinued
      operations follow:




September
                30,2004
            
            2003**ASSETS**Cash
            
            $
            -
            
            $
            1,136Accounts
                Receivable - Net
            
            
            -
            
            
            96,156Property
                and Equipment, Net
            
            
            -
            
            
            46,345Net
                Assets of Discontinued Operations
            
            $
            -
            
            $
            143,637**LIABILITIES**Trade
                accounts payable and accrued expenses
            
            $
            64,306
            
            $
            462,743Cash
                Overdraft
            
            
            -
            
            
            42,494Payable-related
                party
            
            
            -
            
            
            320,600Deferred
                revenue
            
            
            -
            
            
            12,637Short-term
                obligations
            
            
            
            
            
            303,040Capital
                leases
            
            
            1,077
            
            
            4,241Net
                Liabilities of Discontinued Operations
            
            $
            65,383
            
            $
            1,145,755




Page
          20




**STATEMENTS
        OF OPERATIONS**





Year
                EndedSeptember
                30,2004
            
            2003Revenue
            
            $
            277,338
            
            $
            2,941,802Operating
                Expenses:General
                and Administrative
            
            
            606,810
            
            
            3,383,115Sales
                and Marketing
            
            
            7,208
            
            
            1,649,481Depreciation
                and amortization
            
            
            30,232
            
            
            105,064Total
                Operating Expenses
            
            
            644,250
            
            
            5,137,660Loss
                From Operations
            
            
            (366,912
            )
            
            (2,195,858
            )Total
                other Income (Expense)
            
            
            (701,673
            )
            
            2,833Net
                (Loss)
            
            $
            (1,068,585
            )
            $
            (2,193,025
            )Basic
                and Diluted(Loss)
                per Share
            
            $
            (0.08
            )
            $
            (0.16
            )Weighted
                AverageNumber
                of Shares
            
            
            13,561,100
            
            
            13,561,100




**NOTE
      6 - RELATED PARTY TRANSACTIONS**





As
      of
      September 30, 2004, a related party forgave operational advances to the Company
      in the amount of $673,840 including accrued interest and was reclassified from
      notes payable to contributed capital.





**NOTE
      7 - LONG-TERM OBLIGATIONS**





The
      Company leases office space under a long-term operating lease agreement and
      leases equipment under long-term capital lease agreements. Minimum rentals
      on
      capital leases have been capitalized at the cost of the leased equipment or
      the
      present value of the rentals at the inception of the leases and the obligation
      for such amounts recorded as liabilities. Amortization of the capitalized
      assets, which is included in depreciation and amortization expense, is computed
      on the straight-line basis over the life of the asset or the lease term,
      whichever is shorter, and interest expense is accrued on the basis of the
      outstanding lease obligations.


Page
          21





Future
      minimum lease payments under capital and operating leases are as
      follows:




Capital
              
              OperatingLeases
              
              LeasesYear
                  ending September 30,2003
              
              $
              2,561
              
              $
              55,3912004
              
              
              -
              
              
              4,616Thereafter
              
              
              -
              
              
              -Total
                  minimum lease payments
              
              $
              2,561
              
              $
              60,007Less
                  amount representing interest
              
              
              94Present
                  value of net minimum lease payments
              
              
              2,467Less
                  current maturities
              
              
              2,467$
              -


**NOTE
      8 - COMMON STOCK TRANSACTIONS**





During
      the year ended September 30, 2002, the Company cancelled 9,900,000 common shares
      and issued 700,000 common shares pursuant to the separation agreements with
      former officers of the Company.





In
      November 2001, the Company issued 450,000 shares of common stock for the
      purchase of assets (see Note 5) and issued an additional 1,000,000 shares
      pursuant to a stock exchange agreement executed in January 2002 (see Note
      12).





Additionally,
      the Company issued 165,000 shares of common stock in January 2002 to an
      unrelated individual for services rendered valued at a price of $0.91 per share.
      An additional 25,000 shares were issued to the same individual in July 2002
      for
      services rendered valued at $3.50 per share. The value of the shares issued
      approximated the fair market value of the shares on the date of
      authorization.




**NOTE
      9 - STOCK OPTIONS AND WARRANTS**





During
      November 2001, the Company approved a stock option plan authorizing the Company
      grant up to a maximum of 2,500,000 shares of qualified and nonqualified options
      to employees, officers, directors, and others.





During
      November 2001, the Company granted stock options to its president to purchase
      up
      to 500,000 shares of common stock at $1.09 per share. The options vest one
      third
      upon grant, one third one year from the date of grant, and one third two years
      from the date of grant, contingent upon the president remaining an officer
      for
      such time. In addition, the Company granted options to purchase 100,000 shares
      of common stock to an outside consultant at $1.09 per share which vest upon
      grant. None of the contingent requirements were meet, accordingly, no related
      options are exercisable.





In
      conjunction with an asset purchase agreement entered into in November 2001,
      the
      Company granted to an unrelated entity a warrant to purchase up to 600,000
      shares of common stock at an exercise price of $2.00 per share, exercisable
      at
      any time prior to November 21, 2011 based on achieving certain gross revenue
      thresholds. None of the gross revenue thresholds were achieved and, accordingly,
      no related warrants are exercisable.





During
      February 2002, the Company granted stock options to an employee of the Company
      to purchase up to 2,000,000 shares of common stock at $1.08 per share. The
      options vest based on the performance of the Company and the time the employee
      remains employed by the Company. At September 30, 2002, no options had vested
      under this agreement. None of the performance requirements were meet,
      accordingly, no related options are exercisable.




Page
          22




In
      addition, the Company granted options to purchase 500,000 shares of common
      stock
      to an outside consultant at $0.65 per share which vest one third upon grant,
      one
      third one year from the date of grant and one third two years from date of
      grant, contingent upon the consultant continuing to provide services during
      the
      vesting periods. None of the performance requirements were meet, accordingly,
      no
      related options are exercisable.





During
      March 2002, the Company granted stock options to employees of the Company to
      purchase up to a total of 165,000 shares of common stock at $1.08 per share.
      The
      options vest one third upon grant, one third one year from the date of grant,
      and one third two years from the date of grant, contingent upon the employees
      remaining employees of the Company for such time. None of the performance
      requirements were meet, accordingly, no related options are
      exercisable.





As
      of
      September 30, 2004 none of the contingent requirements related to the above
      warrants and options were meet. Accordingly, the company has treated both
      options and warrants as having been cancelled and no longer
      outstanding.




**Note
      10 -**  **THE
      EFFECT OF RECENTLY ISSUED ACCOUNTING STANDARDS**




Below
      is
      a listing of the most recent accounting standards SFAS 146-150 and their effect
      on the Company.





*SFAS
      146*  *Accounting
      for Costs Associated with Exit or Disposal Activities*




This
      statement requires companies to recognize costs associated with exit or disposal
      activities, other than SFAS 143 costs, when they are incurred rather than at
      the
      date of a commitment to an exit or disposal plan. Examples of these costs are
      lease termination costs, employee severance costs associated with restructuring,
      discontinued operation, plant closing, or other exit or disposal activity.
      This
      statement is effective after December 15, 2002.




*SFAS
      147*  *Acquisitions
      of Certain Financial Institutions - an amendment of FASB Statement No. 72 and
      144 and FASB Interpretation No. 9.*




This
      statement makes the acquisition of financial institutions come under the
      statements 141 and 142 instead of statement 72, 144 and FASB Interpretation
      No.
      9. This statement is applicable for acquisition on or after October 1,
      2002.




*SFAS
      148*  *Accounting
      for Stock-Based Compensation - Transition and Disclosure*




Amends
      FASB 123 to provide alternative methods of transition for an entity that
      voluntarily changes to the fair value based method of accounting for stock-based
      employee compensation.





*SFAS
      149*  *Amendment
      of Statement 133 on Derivative Instruments and Hedging
      Activities*




This
      Statement amends and clarifies financial accounting and reporting for derivative
      instruments, including certain derivative instruments embedded in other
      contracts (collectively referred to as derivatives) and for hedging activities
      under FASB Statement No. 133, *Accounting
      for Derivative Instruments and Hedging Activities.*




*SFAS
      150*  *Financial
      Instruments with Characteristics of both Liabilities and
      Equity*




This
      statement requires that such instruments be classified as liabilities in the
      balance sheet. SFAS 150 is effective for financial instruments entered into
      or
      modified after May 31, 2003.




*Interpretation
      No. 46 (FIN 46)*




Effective
      January 31, 2003, The Financial Accounting Standards Board requires certain
      variable interest entities to be consolidated by the primary beneficiary of
      the
      entity if the equity investors in the entity do not have the characteristics
      of
      a continuing financial interest or do not have sufficient equity at risk for
      the
      entity to finance its activities without additional subordinated financial
      support from other parties. The Company has not invested in any such entities,
      and does not expect to do so in the foreseeable future.




Page
          23




The
      adoption of these new Statements is not expected to have a material effect
      on
      the Company’s current financial position, results or operations, or cash flows.




**NOTE
      11- SUBSEQUENT EVENTS**





As
      of
      October 24, 2006 none of the criteria upon which execution of outstanding
      warrants and options were meet. Accordingly, all warrants and options have
      been
      cancelled.





Effective
      August 28, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from XVARIANT, INC. to China Ethanol
      Corporation.





On
      November 27, 2006 the Company filed a Certificate of Amendment with the State
      of
      Nevada to change its name from China Ethanol Corporation to Easy Groups
      Limited.





On
      June
      20, 2007, the Company filed a Certificate of Amendment with the State of Nevada
      to change its name from Easy Groups Limited to China Bionanometer Industries
      Corporation.





Subsequent
      to September 30, 2004 the Company reentered the development stage.





**Item
      8. Changes in and Disagreements with Accountants on Accounting and Financial
      Disclosure**





None.





**Item
      8A. Controls and Procedures**




(a)
      Evaluation of Disclosure Controls and Procedures





Based
      on
      an evaluation as of the date of the end of the period covered by this Form
      10-KSB, our Chief Executive Officer and Chief Financial Officer, conducted
      an
      evaluation of the effectiveness of the design and operation of our disclosure
      controls and procedures, as required by Exchange Act Rule 13a-15. Based on
      that
      evaluation, our Chief Executive Officer and Chief Financial Officer concluded
      that our disclosure controls and procedures were effective as of the end of
      the
      period covered by this report to ensure that information required to be
      disclosed by us in the reports that we file or submit under the Exchange Act
      is
      recorded, processed, summarized and reported within the time periods specified
      by the SEC's rules and forms.




(b)
      Changes in Internal Control Over Financial Reporting





There
      were no changes in our internal controls over financial reporting that occurred
      during the year ended September 30, 2004 that have materially affected, or
      are
      reasonably likely to materially affect, our internal control over financial
      reporting.





**Item
      8B. Other Information**





This
      Form
      10-KSB is being filed in the name of Xvariant, Inc. On August 28, 2006,
      Xvariant, Inc. changed its name to China Ethanol Corporation. On November 17,
      2006, China Ethanol Corporation changed its name to Easy Groups Limited. On
      June
      20, 2007, Easy Groups Limited changed its name to China Bionanometer Industries
      Corporation.





On
      February 26, 2007 the Registrant filed a Form 8-K with the Commission stating
      that on February 2, 2007 the Company signed a Rescission Agreement between
      Easy
      Groups Limited and China Ethanol Corporation.




Page
          24




On
      June
      22, 2007, the Registrant filed a Form 8-K with the Commission stated that on
      April 27, 2007 the Company signed an Exchange Agreement between Easy Groups
      Limited and FullCo Limited.





**Item
      9. Directors, Executive Officers, Promoters and Control Persons; Compliance
      with
      Section 16(A) of the Exchange Act.**





The
      following table sets forth (i) the names of the executive officers, (ii) their
      ages as of the date of this Form 10-KSB and (iii) the capacities in which they
      serve Xvariant, Inc. (N/K/A China Bionanometer Industries
      Corporation):




Name
              
              Age
              
              Position
              
              Officer
                  SinceReed
                  Benson*
              
              60
              
              Chief
                  Executive Officer,
              
              2001Chief
                  Financial Officer and Director




Reed
      L.
      Benson was appointed Chief Executive Officer, President and a Director of the
      Company on October 12, 2001. On November 15, 2002, he resigned as President,
      but
      continues to serve the Company as a Director and as Chief Executive Officer
      and
      Chief Financial Officer. From October 1, 2003 to the present he has been
      employed by Broadcast International, Inc., a public company, as Vice President,
      General Counsel and Secretary. Since January 1, 2007 he has also served as
      Chief
      Financial Officer for BroadcastMr. Benson is President of Applied Technology
      Consultants, Inc., which had a consulting contract with the Registrant (See
      “Item 12. Certain Relationships and Related Transactions”) Mr. Benson is a
      licensed attorney in the State of Utah. He received his J.D. degree, from the
      University of Utah in 1976.





**
      (Note: As of the current date of this filing, October 3, 2007, Mr. Reed Benson
      has resigned as part of the management of the Registrant. However, Mr. Benson
      was the sole member of Management at the end of the fiscal year September 30,
      2004. The Registrant filed a Form 8-K with the Commission on June 22, 2007
      stating the new management of the Company. The new management is signing on
      behalf of the Company in regards to this filing.)*





*(a)
      Significant Employees*





Other
      than our officers, there are no employees who are expected to make a significant
      contribution to our corporation.





*(b)
      Family Relationships*





Our
      directors currently have terms which will end at our next annual meeting of
      the
      stockholders or until their successors are elected and qualify, subject to
      their
      prior death, resignation or removal. Officers serve at the discretion of the
      Board of Directors. There are no family relationships among any of our directors
      and executive officers. There are no family relationships among our officers,
      directors, or persons nominated for such positions.





*(c)
      Legal Proceedings*





No
      officer, director, or persons nominated for these positions, and no promoter
      or
      significant employee of our corporation has been involved in legal proceedings
      that would be material to an evaluation of our management.





*Code
      of Ethics*





The
      Company is in the process of preparing a code of ethics that applies to our
      principal chief executive officer, principal financial officer, principal
      accounting officer or controller, or persons performing similar
      functions.




Page
          25




*Section
      16 (a) Beneficial Ownership Compliance*





Section
      16(a) of the Securities Exchange Act of 1934 requires the Company's executive
      officers, directors and persons who own more than ten percent of the Company's
      Common Stock, to file initial reports of beneficial ownership on Form 3, changes
      in beneficial ownership on Form 4 and an annual statement of beneficial
      ownership on Form 5, with the SEC. Such executive officers, directors and
      greater than ten percent shareholders are required by SEC rules to furnish
      the
      Company with copies of all such forms that they have filed.





Based
      solely on its review of the copies of such forms received by the Company and
      representations from certain reporting persons, the Company believes that all
      Section 16(a) filing requirements applicable to its executive officers,
      directors and ten-percent shareholders were filed.





**Item
      10. Executive Compensation**





*Summary
      of Cash and Certain Other Compensation*





The
      following sets forth the compensation of Xvariant's Chief Executive Officer
      and
      the other officers who were executive officers as of September 30, 2004 and
      whose total annual salary and bonuses exceeded $100,000 for the three fiscal
      years ended September 30, 2004.





**Summary
      Compensation Table**




Annual
                  Compensation
              
              Compensation
                  AwardsName
                  and Principal Position
              
              Fiscal
                  Year Ended September 30
              
              Salary
                  Compensation
              
              Securities
                  Underlying Bonus
              
              OptionsReed
                  Benson
              
              
              2004
              
              $
              —
              
              $
              —
              
              
              —Chief
                  Executive OfficerChief
                  Financial Officer
              
              
              2003
              
              
              —
              
              
              —
              
              
              —2002
              
              
              —
                  (1
              )
              
              500,000(2
              )




(1)
      Does
      not reflect consulting fees earned by Applied Technology Consultants, Inc.,
      of
      which Mr. Benson is an officer and director, under a consulting agreement
      providing for a $5,000 per month consulting fee and other consideration none
      of
      which was paid during the fiscal year. (See Item 12 of Form 10-KSB filed with
      the Commission on January 29, 2003).





(2)
      Exercisable at $1.09 per share. (See Item 5 of Form 10-KSB filed with the
      Commission on January 29, 2003).





**Item
      11. Security Ownership of Certain Beneficial Owners and Management and Related
      Stockholder Matters**





The
      following table sets forth the beneficial ownership of the common stock of
      the
      Company, as of September 30, 2004, by each director, current executive officer
      and executive officer named in the Summary Compensation Table appearing above,
      and each person who, to the knowledge of the Company, owned beneficially more
      than 5% of the Company's common stock.




Page
          26




**Beneficial
      Ownership**




Amount
                  of and Nature of**Beneficial
                  Owner**
              
              Beneficial
                  Ownership (1)
              
              Percent
                    ofTotal (2)
              
              Total
                  (2)Calico,
                  Ltd.PO
                  Box 267Leeward
                  HighwayProvidencialesTurks
                  and Caicos Islands
              
              
              6,200,000
              
              
              Direct
              
              
              45.7
              %Reed
                  L. Benson (3)CEO
                  and Director57
                  West 200 South, Ste. 550Salt
                  Lake City, Utah 84101
              
              
              1,162,050
              
              
              Direct
                  (3
              )
              
              8.4
              %All
                  current directors, currentexecutive
                  officers and formerexecutive
                  officers as a group(1
                  persons)
              
              
              
              
              
              1,162,050
              
              
              8.4
              %




(1)
      The
      table in this section is based upon information supplied by officers, directors
      and principal stockholders and Schedules 13D and 13G, if any, filed with the
      SEC. Unless otherwise indicated in the footnotes to the table and subject to
      the
      community property laws where applicable, each of the stockholders named in
      this
      table has sole voting and investment power with respect to the shares shown
      as
      beneficially owned by him.





(2)
      Applicable percentage of ownership for the officers and directors is based
      on
      14,061,100 shares of common stock, which were outstanding on September 30,
      2004,
      and which includes 500,000 shares held by such officer and director which may
      be
      acquired upon exercise of currently exercisable options.





(3)
      Includes 500,000 shares which may be acquired upon exercise of presently
      exercisable options. (See "ITEM 10. EXECUTIVE COMPENSATION"). Also includes
      100,000 shares held by Applied Technology Consultants, Inc., an entity in which
      Mr. Benson has shared voting control, and 12,050 shares held by Double RR,
      LLC,
      an entity in which Mr. Benson has shared voting control.





*Stock
      Option Grants*





No
      stock
      options were granted to officers or directors during the fiscal
      year.





*Compensation
      of Directors*





There
      are
      no non-employee directors of the Company and employees receive no additional
      compensation for serving as directors.





*Employment
      Contracts and Termination of Employment and Change of Control
      Arrangements*





Mr.
      Reed
      L. Benson, CEO, is not a salaried employee of the Company, and is not
      compensated directly by the Company. He is President of Applied Technology
      Consultants, Inc. ("ATC"), which had a consulting agreement with the Company
      requiring payments of $5,000 per month. The Company currently owes ATC
      approximately $320,600 under the consulting agreement. Mr. Benson may derive
      compensation from ATC and indirectly from the Company at such time as the
      Company is able to pay the amount owed to ATC. No amounts were paid during
      the
      fiscal year under the consulting agreement. (See "ITEM 12. CERTAIN RELATIONSHIPS
      AND RELATED TRANSACTIONS").




Page
          27




The
      Company's wholly owned subsidiary, 360House.com, Inc. ("360House") has entered
      into employment agreements with Messrs. Jones and Evans which provide for
      significant benefits. Each of the employment agreements provides for a term
      that
      expires January 31, 2007 and for a monthly salary of $10,000, with a bonus
      equal
      to 12.5% of the net profits of 360House paid quarterly. If their employment
      is
      terminated by the Company without cause, they are entitled to termination
      benefits for the remainder of the contractual term equal to their base salary
      for such period. The employment agreements have been mutually
      terminated.





The
      Company currently has no other compensation plan or arrangement with respect
      to
      any of the executive officers named on the Summary Compensation Table, which
      results or will result from the resignation, retirement, or other termination
      of
      such individual's employment with the Company or from a change in control of
      the
      Company or a change in the individual's responsibilities following a change
      in
      control.





*Compensation
      Committee Interlocks and Insider Participation*





The
      Company does not currently have a Compensation Committee.





*Board
      Meetings*





During
      the year ended September 30, 2004, no formal meetings were held.





**Item
      12. Certain Relationships and Related Transactions**





The
      Company entered into consulting agreement with Applied Technology Consultants,
      Inc., a Nevada corporation, in September, 2000, which provides for a payment
      of
      $5,000 per month as a consulting fee for a three year term. The Agreement also
      provided for a finder's fees for locating investment capital funding for the
      operations of the Company. The finder's fee is to be a percentage of the
      investment proceeds actually received by the Company and is to be paid as such
      funds are received. To date, ATC has received $33,600 in finder's fees and
      $20,000 in consulting fees. At December 31, 2003, the Company owed ATC
      approximately $320,600, $105,000 of which is for finders fees. In addition,
      ATC
      loaned the Company $79,000 on a short term note bearing interest at 6% per
      annum, of which $36,550 has been repaid. Mr. Reed L. Benson, a director and
      officer of the Company, is also an officer and director of ATC and may derive
      compensation from ATC. Reed L. Benson has also loaned the Company $18,500 and
      another entity to which he is related has loaned the Company $68,864. Both
      of
      these loans were repaid.





**Item
      13. Exhibits and Reports on Form 8-K**





(a)
      Exhibits





2.1
            Stock
                Purchase Agreement between Almost Country Productions, Inc. (N/K/A
                Easy
                Groups Limited, formerly Xvariant, Inc.) and the Shareholders of
                Real
                Estate Federation, Inc. (“REF”) dated March 9, 2001 (Exhibit 2.1 to Form
                8-K/A filed with the Commission on June 1,
                2001)





2.2
            Stock
                Exchange Agreement between Xvariant, Inc. and 360House.com, Inc.
                dated as
                of January 29, 2002 (Exhibit 2.1 to Form 8-K filed with the Commission
                on
                February 6, 2002)





2.3
            Stock
                Exchange Agreement between China Ethanol Corporation and Easy Groups
                Limited dated September 29, 2006 (Exhibit 10.1 to Form 8-K filed
                with the
                Commission on November 11, 2006)





2.4
            Stock
                Exchange Agreement between Easy Groups Limited and FullCo Industrial
                Limited dated April 27, 2007 (Exhibit 2.1 to Form 8-K filed with
                the
                Commission on June 22, 2006)





3.1
            Articles
                of Incorporation filed with the Nevada Secretary of State on October
                24,
                1996 (Exhibit 3.1 to Registration Statement on Form 10-SB filed with
                the
                Commission on December 2, 1999.)




Page
          28




3.2
            Bylaws
                (Exhibit 3.2 to Registration Statement on Form 10-SB filed with the
                Commission on December 2, 1999.)





10.1
            Separation
                Agreement with Thomas Wright dated October 11, 2001 (Exhibit 10.1
                to Form
                8-K filed with the Commission on November 7,
                2001)





10.2
            Separation
                Agreement with Carter Knapp dated October 11, 2001 (Exhibit 10.2
                to Form
                8-K filed with the Commission on November 7,
                2001)





10.3
            Separation
                Agreement with Rick Craig dated October 11, 2001 (Exhibit 10.3 to
                Form 8-K
                filed with the Commission on November 7,
                2001)





10.4
            Asset
                Purchase Agreement by and between Xvariant, Inc. and Bid Trac, Inc.
                (Exhibit 10.1 to Form 10-KSB filed with the Commission on January
                15,
                2002)





10.5
            Common
                Stock Warrant (Exhibit 10.2 to Form 10-KSB filed with the Commission
                on
                January 15, 2002)





10.6
            Recession
                Agreement between China Ethanol Corporation and Easy Groups Limited
                (Exhibit 10.1 to Form 8-K filed with the Commission on February 26,
                    2007)




31.1
            Certification
                of Chief Executive Officer pursuant to 13a-14 and 15d-14 of the Exchange
                Act (filed herewith)





31.2
            Certification
                of Chief Financial Officer pursuant to 13a-14 and 15d-14 of the Exchange
                Act (filed herewith)





32
            Certificate
                pursuant to 18 U.S.C. ss. 1350 for Reed Benson, Chief Executive Officer
                (filed herewith)





(b)
      Reports on Form 8-K.





No
      Form
      8-Ks were filed for the fiscal year 2004.





**Item
      14. Principal Accountant Fees and Services**





The
      following is a summary of the fees billed by HJ and Associates, LC (“HJ”), the
      former independent auditor of the Company and Moore & Associates (“Moore”),
      the current independent auditors for the Company, for professional services
      rendered for the year ended September 30, 2004:




**HJ**
              
              **Moore**Service
              
              2004
              
              2004Audit
                  Fees
              
              $
              3,785
              
              $
              3,250Audit
                  RelatedFees
              
              
              -
              
              
              -Tax
                  Fees
              
              
              -
              
              
              -All
                  Other Fees
              
              
              -
              
              
              -**TOTAL**
              
              $
              3,785
              
              $
              3,250
  Page
            29


Audit
      fees consist of the aggregate fees billed for services rendered for the audit
      of
      our annual financial statements, the reviews of the financial statements
      included in our Forms 10-QSB and for any other services that are normally
      provided by our independent auditors in connection with our statutory and
      regulatory filings or engagements.





Audit
      related fees consist of the aggregate fees billed for professional services
      rendered for assurance and related services that reasonably related to the
      performance of the audit or review of our financial statements that were not
      otherwise included in Audit Fees.





Tax
      fees
      consist of the aggregate fees billed for professional services rendered for
      tax
      compliance, tax advice and tax planning. These services include assistance
      regarding federal, state and local tax compliance and consultation in connection
      with various transactions and acquisitions.





All
      other
      fees consist of the aggregate fees billed for products and services provided
      by
      our independent auditors and not otherwise included in Audit Fees, Audit Related
      fees or Tax Fees.




**SIGNATURES**





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




China
                  Bionanometer Industries Corporation/s/ Wang Wen’gengWang
                Wen’geng, Chief Executive Officer(Principal
                executive officer)




/s/ Xiang QinXiang
                Qin, Chief Financial Officer(Principal
                financial officer)


Dated:
        October 26, 2007




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