**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**





**FORM 10-KSB**









**x**
            **ANNUAL
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                EXCHANGE ACT OF 1934****For
                the fiscal year ended September 30, 2005****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**


(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 November 1, 2007 was approximately $38,862,374, using
      the
      average between the high and low price per share of $0.68, as reported on the
      PinkSheets as of such date.









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





**DOCUMENTS
      INCORPORATED BY REFERENCE** :


None





**China
      Bionanometer Industries Corporation**


**Annual
      Report on Form 10-KSB**


**For
      the Year Ended September 30, 2005**





**INDEX**





PART
                IITEM
                1.
            Description
                of Business
            3ITEM
                1B.
            Unresolved
                Staff Comments
            6ITEM
                2.
            Description
                of Properties
            7ITEM
                3.
            Legal
                Proceedings
            7ITEM
                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
            7ITEM
                6.
            Management's
                Discussion and Analysis or Plan of Operation
            8ITEM
                7.
            Financial
                Statements
            10ITEM
                8.
            Changes
                in and Disagreements with Accountants on Accounting and Financial
                Disclosure
            21ITEM
                8A.
            Controls
                and Procedures
            21ITEM
                8B.
            Other
                Information
            21PART
                IIIITEM
                9.
            Directors
                and Executive Officers of the Registrant
            21ITEM
                10.
            Executive
                Compensation
            23ITEM
                11.
            Security
                Ownership of Certain Beneficial Owners and Management and Related
                Stockholder Matters
            23ITEM
                12.
            Certain
                Relationships and Related Transactions
            24ITEM
                13.
            Exhibits
                and Reports on Form 8-K
            25ITEM
                14.
            Principal
                Accountant Fees and Services
            26**SIGNATURES**
            **27**





Page
          2 of
          27




**Special
      Note About Forward-Looking Statements**




Certain
      statements in this report, other than purely historical information, including
      estimates, projections, statements relating to our business plans, objectives
      and expected operating results, and the assumptions upon which those statements
      are based, are “forward-looking statements” within the meaning of the Private
      Securities Litigation Reform Act of 1995, Section 27A of the Securities Act
      of 1933 and Section 21E of the Securities Exchange Act of 1934. These
      forward-looking statements generally are identified by the words “believe,”
“project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “plan,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely
      result,” and similar expressions. Forward-looking statements are based on
      current expectations and assumptions that are subject to risks and uncertainties
      which may cause actual results to differ materially from the forward-looking
      statements. We undertake no obligation to update or revise publicly any
      forward-looking statements, whether as a result of new information, future
      events or otherwise.





**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.)





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.




Page
          3 of
          27




*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
          4 of
          27




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.





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.




Page
          5 of
          27




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.





**Item
      1B. Unresolved Staff Comments**





None.





Page
          6 of
          27





**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:





**High**
            
            **Low****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**Fiscal
                2005**Quarter
                ending December 31, 2004
            
            
            0.20
            
            
            0.15Quarter
                ending March 31, 2005
            
            
            0.12
            
            
            0.06Quarter
                ending June 30, 2005
            
            
            0.10
            
            
            0.05Quarter
                ending September 30, 2005
            
            
            0.04
            
            
            0.04





*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, 2005.




Page
          7 of
          27




**Item
      6. Management's Discussion and Analysis or Plan of
      Operation**





The
      following Management’s Discussion and Analysis (“MD&A”) is intended to help
      the reader understand the results of operations and financial condition of
      China
      Bionanometer Industries Corporation. MD&A is provided as a supplement to,
      and should be read in conjunction with, our financial statements and the
      accompanying notes to the financial statements (“Notes”).





*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.





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.





Page
          8 of
          27




*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.





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 of
          27




**Item
      7. Financial Statements**





**MOORE
      & ASSOCIATES, CHARTERED**


** *ACCOUNTANTS
      AND ADVISORS*


*PCAOB
      REGISTERED*




**REPORT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**








**To
      the Board of Directors**


**China
      Bionanometer Industries Corp.**


(A
      Development Stage Company)




We
      have
      audited the accompanying balance sheet of China Bionanometer Industries Corp.
      (A
      Development Stage Company) as of September 30, 2005 and 2004, and the related
      statements of operations, stockholders’ equity and cash flows as of September
      30, 2005 and 2004. These financial statements are the responsibility of the
      Company’s management. Our responsibility is to express an opinion on these
      financial statements based on our audits.





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





In
      our
      opinion, the financial statements referred to above present fairly, in all
      material respects, the financial position of China Bionanometer Industries
      Corp.
      (A Development Stage Company) as of September 30, 2005 and 2004, and the related
      statements of operations, stockholders’ equity and cash flows as of September
      30, 2005 and 2004, in conformity with accounting principles generally accepted
      in the United States of America.





The
      accompanying financial statements have been prepared assuming that the Company
      will continue as a going concern. As discussed in Note 3 to the financial
      statements, the Company has incurred accumulated deficit of $4,122,602 through
      September 30, 2005 and has limited internal financial resources, which raises
      substantial doubt about its ability to continue as a going concern. Management’s
      plans concerning these matters are also described in Note 3. The financial
      statements do not include any adjustments that might result from the outcome
      of
      this uncertainty.





***/s/
                Moore & Associates, Chartered***Moore
                & Associates CharteredLas
                Vegas, NevadaNovember
                6, 2007




Page
          10
          of 27





*2675
      S. Jones Blvd. Suite 109, Las Vegas, NV 89146 (702) 253-7499 Fax (702)
      253-7501*





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Balance
      Sheets**


(Audited)





September
                30,2005
            
            2004**ASSETS**Current
                AssetsCash
            
            $
            -
            
            $
            -Accounts
                Receivable - Net
            
            
            -
            
            
            -Total
                Current Assets
            
            
            -
            
            
            -Net
                Assets of Discontinued Operations
            
            
            -
            
            
            -Total
                Assets
            
            $
            -
            
            $
            -**LIABILITIES
                AND STOCKHOLDERS' EQUITY**Current
                LiabilitiesTrade
                accounts payable and accrued expenses
            
            $
            -
            
            $
            64,306Net
                Liabilities of Discontinued Operations
            
            
            -
            
            
            1,077Total
                Current Liabilities
            
            
            -
            
            
            65,383Total
                Liabilities
            
            
            -
            
            
            65,383Stockholders'
                EquityCommon
                Stock,$0.001 par value, 50,000,000 shares authorized; 13,561,100
                shares
                issued and outstanding at September 30, 2005 and 2004
                respectively
            
            
            13,561
            
            
            13,561Paid
                in Capital
            
            
            4,109,041
            
            
            3,975,633Accumulated
                Deficit
            
            
            (4,122,602
            )
            
            (4,054,577
            )Total
                Stockholders' Equity
            
            
            -
            
            
            (65,383
            )Total
                Liabilities and Stockholders' Equity
            
            $
            -
            
            $
            -





The
      accompanying notes are an integral part of these statements


Page
          11
          of 27




**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Consolidated
      Statements of Operations**


(Audited)





Year
                EndedSeptember
                30,2005
            
            2004Revenue,
                net
            
            $
            -
            
            $
            -Cost
                of Sales
            
            
            -
            
            
            -Gross
                Margin
            
            
            -
            
            
            -Operating
                ExpensesGeneral
                and Administrative
            
            
            -
            
            
            -Advertising
            
            
            -
            
            
            -Depreciation
                and Amortization
            
            
            -
            
            
            -Total
                Operating Expenses
            
            
            -
            
            
            -Loss
                From Operations
            
            
            -
            
            
            -Extraordinary
                Items:Discontinued
                Operations
            
            
            (68,025
            )
            
            (1,068,585
            )Loss
                on Disposal of Discontinued Operations
            
            
            -
            
            
            -Total
                other Income (Expense)
            
            
            (68,025
            )
            
            (1,068,585
            )Net
                (Loss)
            
            $
            (68,025
            )
            $
            (1,068,585
            )Basic
                and Diluted(Loss)
                per ShareContinuing
                Operations
            
            $
            0.00
            
            $
            0.00Discontinued
                Operations
            
            
            0.08
            
            
            0.16Weighted
                AverageNumber
                of Shares
            
            
            13,561,100
            
            
            13,561,100





The
      accompanying notes are an integral part of these statements


Page
          12
          of 27





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Consolidated
      Statement of Stockholders' Equity/(Deficit)**


(Audited)





Common
                Stock
            
            Paid
                in
            
            Subscription
            
            Accumulated
            
            TotalShares
            
            Amount
            
            Capital
            
            Receivable
            
            (Deficit)
            
            Equity**Balance,
                October 1, 2003**
            
            
            3,561,100
            
            $
            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
            )Contributed
                Capital
            
            
            
            
            
            
            
            
            133,408
            
            
            
            
            
            
            
            
            133,408Net
                (Loss)
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            (68,025
            )
            
            (68,025
            )**Balance,
                September 30, 2005**
            
            
            13,561,100
            
            $
            13,561
            
            $
            4,109,041
            
            $
            -
            
            $
            (4,122,602
            )
            $
            -





The
      accompanying notes are an integral part of these statements


Page
          13
          of 27





**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Consolidated
      Statements of Cash Flows**


(Audited)





Year
                EndedSeptember
                30,2005
            
            2004Operating
                ActivitiesNet
                Income (Loss)
            
            $
            (68,025
            )
            $
            (1,068,585
            )Adjustments
                to reconcile net income (Loss):Discontinued
                Operations
            
            
            -
            
            
            1,068,585Depreciation
            
            
            -
            
            
            -Balance
                Sheet Adjustments:(Increase)
                Decrease in Accounts Receivable
            
            
            -
            
            
            -Increase
                (Decrease) in Accounts Payable
            
            
            (65,383
            )
            
            -Increase
                (Decrease) in Accrued Liabilities
            
            
            -
            
            
            -Net
                Cash (Used) by Operating Activities
            
            
            (133,408
            )
            
            -Investing
                ActivitiesDisposal/(Purchase)
                of Equipment
            
            
            -
            
            
            -Cash
                (Used) in Investing Activities
            
            
            -
            
            
            -Financing
                ActivitiesAdvances
                from Related Parties
            
            
            -
            
            
            -Contributed
                Capital
            
            
            133,408
            
            
            -Proceeds
                from Sale of Common Stock
            
            
            -
            
            
            -Cash
                provided by financing
            
            
            133,408
            
            
            -Net
                Increase (Decrease) in Cash
            
            
            -
            
            
            -Cash,
                Beginning of Period
            
            
            -
            
            
            -Cash,
                End of Period
            
            $
            -
            
            $
            -Supplemental
                InformationTaxes
            
            $
            -
            
            $
            -Interest
            
            $
            -
            
            $
            -





The
      accompanying notes are an integral part of these statements


Page
          14
          of 27




**CHINA
      BIONANOMETER INDUSTRIES CORPORATION**


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





**Notes
      to the Audited Consolidated Financial Statements**


(September
      30, 2005 and 2004)





**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 (see Note 13).





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.





On
      June
      20, 2007 the Company changed its name to China Bionanometer Industries
      Corporation.


Page
          15
          of 27


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





a.
      Accounting Methods





The
      Company's consolidated financial statements are prepared using the accrual
      method of accounting with a September 30 fiscal year-end.





b.
      Accounts Receivable





The
      Company has discontinued its operations and has no accounts
      receivable.





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
          16
          of 27


g.
      Revenue Recognition





The
      Company currently has no sources of revenue.





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 $4,122,602 at September 30,
      2005, 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 discontinued operations and is exploring the possibility of purchasing
      an operating enterprise and will have to rely on the sale of stock or capital
      contributions from its shareholders to continue as a going concern. However,
      there can be no assurance that the Company will be able to secure additional
      debt and equity financing.





**NOTE
      4 - 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.




Page
          17
          of 27


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
            
            $
            3,301,793Accumulated
                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


The
      condensed financial statements of the discontinued operations
      follow:





**BALANCE
      SHEETS**





September
                30,2005
            
            2004**ASSETS**Cash
            
            $
            -
            
            $
            -Accounts
                Receivable - Net
            
            
            -
            
            
            -Property
                and Equipment, Net
            
            
            -
            
            
            -Net
                Assets of Discontinued Operations
            
            $
            -
            
            $
            -**LIABILITIES**Trade
                accounts payable and accrued expenses
            
            $
            -
            
            $
            64,306Capital
                leases
            
            
            -
            
            
            1,077Net
                Liabilities of Discontinued Operations
            
            $
            -
            
            $
            65,383


Page
          18
          of 27





**STATEMENTS
      OF OPERATIONS**





For
                Year EndedSeptember
                30,2005
            
            2004Revenue
            
            $
            5,922
            
            $
            145,867Operating
                Expenses:General
                and Administrative
            
            
            60,252
            
            
            304,643Sales
                and Marketing
            
            
            -
            
            
            6,687Depreciation
                and amortization
            
            
            2,981
            
            
            15,305Total
                Operating Expenses
            
            
            63,233
            
            
            326,635Loss
                From Operations
            
            
            (57,311
            )
            
            (180,768
            )Total
                other Income (Expense)
            
            
            (10,714
            )
            
            (680,934
            )Net
                (Loss)
            
            $
            (68,025
            )
            $
            (861,702
            )Basic
                and Diluted(Loss)
                per Share
            
            $
            (0.01
            )
            $
            (0.06
            )Weighted
                AverageNumber
                of Shares
            
            
            13,561,100
            
            
            13,561,100





**NOTE
      5- 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
      6 - COMMON STOCK TRANSACTIONS**





The
      Company is authorized 50,000,000 common shares at a $0.001 par value and at
      September 30, 2003 had issued and outstanding 13,561,100 shares.





During
      the year ended September 30, 2005 the company received contributed capital
      in
      the amount of $133,408 in order to meet its obligations.





**NOTE
      7 - STOCK OPTIONS AND WARRANTS**





As
      of
      September 30, 2004 none of the contingent requirements related to outstanding
      warrants and options were not meet. Accordingly, the company has treated both
      options and warrants as having been cancelled and no longer
      outstanding.




Page
          19
          of 27





**NOTE
      8 -** **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.





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.




Page
          20
          of 27


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





**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, 2005 that have materially affected, or
      are
      reasonably likely to materially affect, our internal control over financial
      reporting.





**Item
      8B. Other Information**





None.





**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*
            
            61
            
            Chief
                Executive Officer,Chief Financial Officer
                andDirector
            
            2001





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.




Page
          21
          of 27


**
      (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.





*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.





Page
          22
          of 27





**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
                AwardsFiscal
                Year
            
            
            
            SecuritiesEnded
            
            Salary
            
            UnderlyingName
                and Principal Position
            
            September 30
            
            Compensation
            
            Bonus
            
            OptionsReed
                Benson
            
            
            2005
            
            $
            —
            
            $
            —
            
            
            —Chief
                  Executive Officer
            
            
            2004
            
            
            —
            
            
            —
            
            
            —Chief
                Financial Officer
            
            
            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.





**Beneficial
      Ownership**


Amount of and Nature of
              
              Percent of**Beneficial Owner**
              
              Beneficial Ownership (1)
              
              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.




Page
          23
          of 27


(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").





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.




Page
          24
          of 27


**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.)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)




Page
          25 of
          27




(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 Moore & Associates (“Moore”),
      the independent auditors for the Company, for professional services rendered
      for
      the year ended September 30, 2004:


**Moore**Service
                
                2005Audit
                    Fees
                
                $
                3,250Audit
                    RelatedFees
                
                
                -Tax
                    Fees
                
                
                -All
                    Other Fees
                
                
                -**TOTAL**
                
                $
                3,250





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.




Page
          26
          of 27


**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:
      November 13, 2007




Page
          27
          of 27