UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549


FORM
10-K








ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d)OF


THE
SECURITIES EXCHANGE ACT OF 1934





For the
fiscal year ended December 31, 2009








Commission
File Number 000-52546





Oldwebsites.com,
      Inc.(Name
      of Small business Issuer in its
charter)








Utah
            98-0212805(State
      or other jurisdiction of
            (I.R.S.  EmployerIncorporation
      or organization)
            Identification
      No.)














175 East 400 South
      Suite 900, Salt Lake City, Utah
            84111
            801-531-0404(Address
      of principal executive offices)
            (Zip
      Code)
            (Issuer's
      telephone number)





www.oldwebsites.com


(Web
Address)





(Copies
to:)


Steve
Taylor, 175 East 400 South, Suite 900 Salt Lake City, Utah,
84111         801
578-3283





Securities
to be registered under Section 12 (b) of the Act:


Title of
each class: N/A


Name of
each exchange on which Registered:  N/A





Securities
to be registered under Section 12(g) of the Act:  Common Shares No Par
Value





Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act.    Yes
(  )        No ( x
)





Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act    Yes
(  )      No (x )





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





Indicate
by check markif disclosure of
delinquent filers pursuant to Item 405 of RegulationS-K is not containedherein, andwill not be contained, to the best of
registrant's knowledge, in definitive proxy orinformation statements
incorporated by reference in Part III of this Form 10-K or any amendment to this Form
10-K.  Yes  ( x
)        No( )





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.





Large
      Accelerated Filer (  )
            Accelerated
      Filer  (  )Non-Accelerated
      Filer    (  )
            Smaller
      Reporting Company   ( x
)





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





As at
June 30, 2009, the aggregate market value of the voting stock held by
non-affiliates of the registrant, based on the average bid and ask prices of
$0.03 and $0.03 respectively, namely $0.03 x 4,885,768 common shares outstanding
was $146,573.





As of
March 15, 2010, there were 7,909,345 shares of $0.00 par value common stock
outstanding.





Oldwebsites.com,
Inc.


INDEX





Table of
Contents





Part
      IItem
      1.
            
            Business
            3Item
      1A.
            
            Risk
      Factors
            6Item
      1B.
            
            Unresolved
      Staff Comments
            6Item
      2.
            
            Properties
            6Item
      3.
            
            Legal
      Proceedings
            6Item
      4.
            
            Submission
      of Matters to a Vote of Security Holders
            6Part
      IIItem
      5.
            
            Market
      for Registrant’s Common Equity, Related Stockholder Matters and Issuer
      Purchases of Equity Securities
            7Item
      6.
            
            Selected
      Financial Data
            8Item
      7.
            
            Management's
      Discussion and Analysis of Financial Condition and Results of
      Operations
            8Item
      7A.
            
            Quantitative
      and Qualitative Disclosures About Market Risk
            11Item
      8.
            
            Financial
      Statements and Supplemental Data
            12Item
      9.
            
            Changes
      in and Disagreements with Accountants on Accounting and Financial
      Disclosures
            13Item
      9A(T).
            
            Controls
      and Procedures.
            13Part
      IIIItem
      10.
            
            Directors,
      Executive Officers,. and Corporate Governance
            14Item
      11.
            
            Executive
      Compensation
            15Item
      12.
            
            Security
      Ownership of Certain Beneficial Owners and Management and Related
      Stockholders Matters
            16Item
      13.
            
            Certain
      Relationships and Related Transactions and Director
      Independence
            16Item
      14.
            
            Principal
      Accountant Fees and Services
            18Part
      IVItem
      15.
            
            Exhibits,
      Financial Statement Schedules
            18







FORWARD
LOOKING STATEMENTS





Oldwebsites.com,
Inc. (the "Company", "we" or "us") cautions readers that certain important
factors may affect our actual results and could cause such results to differ
materially from any forward-looking statements that may have been made in this
Form 10-K or that are otherwise made by or on behalf of us. For this purpose,
any statements contained in the Form 10-K that are not statements of historical
fact may be deemed to be forward-looking statements.





Without
limiting the generality of the foregoing, words such as "may," "expect,"
"believe," "anticipate," "intend," "could," "estimate," "plan" or “continue" or
the negative other variations thereof or comparable terminology are intended to
identify forward-looking statements. Factors that may affect our results
include, but are not limited to, our limited history of non-profitability, our
dependence on a limited number of customers and key personnel, the need for
additional financing and our dependence on certain industries. We are also
subject to other risks detailed herein or detailed from time to time in our
filings with the Securities and Exchange Commission.







Part
I





ITEM
1. BUSINESS





Introduction





Oldwebsites.com,
Inc. ("the Company") is a Utah corporation originally incorporated on August 26,
1999 as Fiberglass.com, Inc.





Maydao
Corporation (formerly known as RecycleNet Corporation) acquired the Company as a
wholly owned subsidiary on January 2, 2001.





Maydao
Corporation operated a buy/sell/trade exchange for anything that is scrap or
used.  Fiberglass.com, Inc. had traditionally been focused on the
composite materials industry with its Business-to-Business online portal.
Management identified that a category of used items that was a growing commodity
that could be bought or sold was old websites and domain names. On July 8, 2003,
Fiberglass.com, Inc. created, within its portal business, a custom exchange to
buy and sell old websites, www.oldwebsites.com




On February 16, 2007, the name of the
Company was changed from Fiberglass.com, Inc. to Oldwebsites.com,
Inc.





Subsequently,
on June 6, 2007, Maydao Corporation announced the spin-off of Oldwebsites.com,
Inc. to its shareholders effective September 7, 2007.  As of the date
of the spin-off, Oldwebsites.com, Inc. functions as its own fully reporting
entity.





Company
History





Revenues
in Oldwebsites.com, Inc. had been from the Business-to-Business online portal,
which was focused on the composite materials industry.  The Company
charged a monthly fee for services that were provided to customers.





In July
2003, the Company created within its portal business a custom exchange to buy
and sell old websites and domain names, www.oldwebsites.com.





In 2007,
the Company turned its focus on the operation and further development of this
exchange while still continuing with its portal services for the composite
materials industry as a secondary line of business.


3





On
January 1, 2008, the Company engaged in an affiliate marketing agreement with
Cooksmill NetSystems, Inc, a related party through common
ownership.  Through this affiliate marketing agreement, Cooksmill
NetSystems, Inc. paid the Company (the “Affiliate”) a commission on net
Pay-Per-Lead service sales generated by customers referred by the Company’s web
sites.





Oldwebsites.com,
Inc. owned and/or managed intangible assets in the form of websites and domain
names.





The
Company anticipated capturing revenue by charging a percentage of the value of
the web sites or domain names sold in the exchange.  To date, no
websites have been sold through the exchange.





At a
board meeting held on September 24, 2009, the Board of Directors decided that
due to the economic downturn, that the Company could no longer sustain the
business plan of the development of websites with a 3 to 5 year time sale
horizon.  As the Company has accumulated deficits, negative cash flows
from operations, and losses since inception the Company can no longer sustain
these operations as a going concern.





The
Company recommended that Cooksmill NetSystems, Inc, acquire all of the
intangible assets of the Company, which were comprised of twenty-four websites
for the debt owed to Cooksmill NetSystems Inc. of $46,000 in lieu of cash
payment.  The Company did not have any cash in order to pay this debt
and did not anticipate having the cash in the future to retire this
debt.





As the
intangible assets of the Company have nominal value, the sale price and form of
consideration was determined by the recommendation of the Board of Directors in
order to dispose of the intangible assets of the Company, to discontinue the
ongoing losses occurring, and to eliminate the debt owed by the
Company.




Mr. James
Roszel and Mr. Paul Roszel are both principals of Cooksmill NetSystems Inc. and
members of the Board of Directors of the Company.  Due to this
potential conflict of interest, the Board of Directors did not engage in any
negotiations and referred this proposal directly to the shareholders for
approval.  Cooksmill NetSystems, Inc, Paul Roszel and his immediate
family including James Roszel, as the related parties in this transaction
withheld their votes from this proposal, thus allowing the minority shareholders
to vote on this matter.





At the
Annual Meeting of Shareholders held on November 25, 2009 the shareholders
unanimously approved that Cooksmill NetSystems Inc acquire all of the intangible
assets of the Company, which were comprised of twenty-four websites for the debt
owed to Cooksmill NetSystems Inc. of $46,000 in lieu of cash
payment.  As the operations of the Company consisted solely of the
intangible assets comprised of the twenty-four websites, the divestiture of the
intangible assets of the Company discontinued all of the operations within
Oldwebsites.com. As Cooksmill NetSystems, Inc. is a related party, the gain on
sale/forgiveness of debt was recorded as additional paid-in capital as a
shareholder contribution.





The
completion date of this transaction was at the end of business on November 30,
2009. As of November 30, 2009, upon divestiture of the intangible assets of the
Company, all of the operations within Oldwebsites.com were
discontinued.




Discontinuing
the operations within the Company did not affect its classification as a shell
company. The stock of the Company continues to have a market and to be
publically traded on the Over The Counter Bulletin Board (OTCBB).
 
 Additional
information about this transaction can be viewed in the Definitive Proxy
Statement, as previously filed on November 10, 2009.


4




Mission





The
Company no longer has any operations or revenues and is actively pursuing
potential transactions including, but not limited to, financings, corporate
merger or acquisition.





Effect
of Governmental Regulations





The
Company is unaware of any existing or probable government regulations that would
have any material negative impact on our business.





Reports
to Security Holders





The
Company intends to prepare and deliver to its security holders an annual report
each year, which will include audited financial statements.





The
Company is a "reporting company" under the Securities Exchange Act of 1934 and
is required to file annual, quarterly and periodic reports with the Securities
and Exchange Commission, such as Forms 10-K, 10-Q, and 8-K. The reports are
available at the Commission's Public Reference Room at 450 Fifth Street, NW,
Washington, DC 20549, telephone 1-800-SEC-0330 and may be retrieved
electronically via the Internet at www.sec.gov.





Employees





The
Company has no employees.





Prior to
the divestiture of the operations of the Company all management and staff were
retained on an unwritten contract basis under a related party transaction with
Inter-Continental Recycling Inc. Because of the affiliation between
Inter-Continental and the Company, the agreement between them had no definite
duration and continued as necessary for the conduct of business by the Company.
Inter-Continental assigned and provided employees to the Company as long as the
Company required them and could pay the associated costs. Inter-Continental
provided services to and for the Company by employees of Inter-Continental.
There was no mark-up or other charges incurred by the Company from
Inter-Continental and the Company paid the same amount for services for the
Inter-Continental employees, as did Inter-Continental.  The
management/staff charges for the twelve months ended December 31, 2009 and 2008
were $0 and $19,319, respectively.





The
Company was invoiced for the salary as well as employee benefits, such as
deductions for Canada Pension Plans and Employment Insurance, which are
deductions mandated by the Canadian Government. Management of the Company
believed this arrangement to be beneficial to the Company in that all payroll
and employee withholding transactions were consolidated into one company,
Inter-Continental, thereby saving the Company a duplicative expense. Also,
Inter-Continental was responsible for acquiring and maintaining appropriate
insurance covering liabilities, including employee conduct.


5





ITEM
1A.  RISK FACTORS





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





ITEM
1B.  UNRESOLVED STAFF COMMENTS





None





ITEM
2. PROPERTIES





Facilities





The
Company does not currently own any operating facilities.  The
Company’s corporate offices are located at 175 East 400 South, Suite 900, Salt
Lake City, Utah.  The Company also maintains shared office space at 7
Darren Place, Guelph, Ontario, Canada. The Company believes that the current
facilities will be adequate for the foreseeable future. All research and
development activities are performed in these facilities.





ITEM
3. LEGAL PROCEEDINGS





Neither
the Company, nor any of its officers, directors, or greater than 10% beneficial
shareholders, are involved in any litigation or legal proceedings involving the
business of the Company.





ITEM
4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS





The
Annual Meeting for the year ended December 31, 2008 for Oldwebsites.com, Inc.
was held on November 25, 2009.  The following matters were submitted
to a vote of the Company's security holders and all items were
passed:





Item
A:  Election of Directors


The three
persons elected, as directors of the Company were James Roszel, Paul Roszel, and
Terrence Millie:





The
voting results are as follows:





For
              
              Against
              
              AbstainJames
      Roszel
              
              
              5,654,830
              
              
              
              -
              
              
              
              -Paul
      Roszel
              
              
              5,654,830
              
              
              
              -
              
              
              
              -Terrence
      Millie
              
              
              5,654,830
              
              
              
              -
              
              
              
              -


Item
B: Appointment of Independent Public Accountants





The Board
of Directors has appointed HANSEN, BARNETT & MAXWELL, P.C., certified public
accountants, Salt Lake City, Utah, to be the independent public accountants for
the Company during the coming year and until the next annual shareholders
meeting of the Company.  Hansen, Barnett & Maxwell, P.C. has
served as the Company’s public accountants since inception and the Board is
requesting that the shareholders ratify that appointment.





6





The
voting results are as follows:


For
              
              Against
              
              AbstainCommon
      Shares
              
              
              5,654,830
              
              
              
              -
              
              
              
              -




Item C:To approve
the divestiture of the operating assets of the Company to Cooksmill NetSystems
Inc. Cooksmill NetSystems Inc. will acquire the operating assets of the Company
in exchange for the debt owing to Cooksmill NetSystems Inc.





Cooksmill
NetSystems, Inc. is a wholly owned subsidiary of Inter-Continental Recycling
Inc., a company that is owned and beneficially held by Mr. Paul Roszel, a
director of the Company and his immediate family.  Due to a potential
conflict of interest Cooksmill NetSystems, Inc, James Roszel and his immediate
family including Paul Roszel, as the related parties in this transaction
abstained voting on this proposal, thus allowing the minority shareholders to
vote on this matter.





The
voting results are as follows:





For
              
              Against
              
              AbstainCommon
      Shares
              
              
              1,338,303
              
              
              
              -
              
              
              
              4,316,527
   Part II


ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES





Market
Information





The
Company has authorized 150,000,000 common shares. There are no provisions in the
Articles of Incorporation of the Company that would delay, defer, or prevent a
change in control of the Company. The Company has no debt securities
issued.





On April
15, 2008 FINRA (Financial Industry Regulatory Authority) cleared the request for
an unpriced quotation on the OTC Bulletin Board for Oldwebsites.com, Inc common
stock.  The stock symbol for Oldwebsites.com, Inc. is
“OLDW”.  The Company's shares are traded on the over-the-counter
bulletin board securities market. The following table gives the range of high
and low bid information for the Company's common shares for each quarter since
the inception of trading on April 15, 2008. Because the Company's shares are
traded in the over-the-counter market, the quotations shown below reflect
inter-dealer prices without retail mark up, markdown or commission and they may
not represent actual transactions.





Fiscal
      Quarter
            
            
            High
      Bid
            
            Low
      Bid1st
      Quarter, 2009
            
            
            $
            0.06
            
            $
            0.022nd
      Quarter, 2009
            
            
            $
            0.10
            
            $
            0.023rd
      Quarter, 2009
            
            
            $
            0.03
            
            $
            0.024th
      quarter, 2009
            
            
            $
            1.01
            
            $
            0.02Fiscal
      Quarter
            
            
            High
      Bid
            
            Low
      Bid1st
      Quarter, 2008
            
            
            $
            0.00
            
            $
            0.002nd
      Quarter, 2008
            
            
            $
            0.75
            
            $
            0.103rd
      Quarter, 2008
            
            
            $
            0.40
            
            $
            0.054th
      quarter, 2008
            
            
            $
            0.10
            
            $
            0.05




7


As of
December 31, 2009, the number of shareholders of record of the Company’s common
shares was 700.  The Company has not declared or paid any cash
dividends.  It is not anticipated that any cash dividends will be
declared or paid in the near future. There are no contractual or other
restrictions that limit the ability of the Company to pay dividends on its
common shares and none are anticipated in the future.





Recent
Sales of Unregistered Securities





The
Company has made no offers or sales of unregistered securities during the year
ended December 31, 2009 and none are intended at the present time.





ITEM
6.  SELECTED FINANCIAL DATA





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





ITEM
7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS





The
following discussion of the financial condition and results of operations of the
Company should be read in conjunction with the financial statements and notes
related thereto, included elsewhere in this report.





Overview





Prior to
November 30, 2009 and the sale of the assets of the Company, Oldwebsites.com,
Inc., operated an online exchange for buying and selling old web sites and
domain names. This was through the custom development of websites with a 3 to 5
year time sale horizon.   The Company anticipated capturing
revenue by charging a percentage of the value of the web sites or domain names
sold in the exchange.  To date, no websites had been sold through the
exchange.





At a
board meeting held on September 24, 2009, the Board of Directors decided that
due to the economic downturn, that the Company could no longer sustain the
business plan of the development of websites with a 3 to 5 year time sale
horizon.  As the Company has accumulated deficits, negative cash flows
from operations, and losses since inception the Company can no longer sustain
these operations as a going concern.




The only
revenue being recorded by the Company was from an affiliate marketing agreement
with Cooksmill NetSystems, Inc.  Cooksmill NetSystems, Inc. paid the
Company (the “Affiliate”) a commission on net pay-per-lead sales generated by
customers referred by the Company’s web sites.





Since May
2008, the Company had received accumulative working capital loan proceeds of
$54,000 from Cooksmill NetSystems, Inc. the major shareholder of the Company of
which $8,000 is unpaid as of December 31, 2009.  Cooksmill NetSystems
Inc. is an entity controlled by Mr. Paul Roszel, a Director of the Company and
his immediate family, including James Roszel, the President, Chief Executive
Officer and a Director of the Company.  This loan was to allow the
Company to pay for expenses.  This loan is due on demand and bears no
interest.  At this time, the Company had no other external
debt.





As the
Company could no longer be sustained as a going concern, the Board of Directors
recommended discontinuing the operations within Oldwebsites.com,
Inc.




8





The
Company recommended that Cooksmill NetSystems, Inc, acquire all of the
intangible assets of the Company, which were comprised of twenty-four websites
for the debt owed to Cooksmill NetSystems Inc. as of November 30, 2009 of
$46,000 in lieu of cash payment.  The Company did not have any cash in
order to pay this debt and did not anticipate having the cash in the future to
retire this debt. As Cooksmill NetSystems, Inc. is a related party, the gain on
sale/forgiveness of debt was recorded as additional paid-in capital as a
shareholder contribution.





As the
intangible assets of the Company have nominal value the sale price and form of
consideration was determined by the recommendation of the Board of Directors in
order to dispose of the intangible assets of the Company,  discontinue
the ongoing losses occurring, and eliminate the debt owed by the
Company.  No negotiations of this proposed divestiture we engaged in
by the Board of Directors due to a conflict of interest.





The
recommendation for Cooksmill NetSystems, Inc. to acquire the intangible assets
of the Company in lieu of payment of the debt owed to Cooksmill NetSystems Inc.
was directly referred to the shareholders for vote.   Cooksmill
NetSystems, Inc, Paul Roszel and his immediate family including James Roszel, as
the related parties, withheld their votes from this proposal, allowing the
minority shareholders to vote on this matter.




Mr. James
Roszel and Mr. Paul Roszel, are both principals of Cooksmill NetSystems Inc. and
members of the Board of Directors of the Company.  Due to this
potential conflict of interest the Board of Directors did not engage in any
negotiations and referred this proposal directly to the shareholders for
approval.  The acquisition of all of the intangible assets of
Oldwebsites.com, Inc. by Cooksmill NetSystems Inc. would benefit the
shareholders of the Company in that this would retire the debt owed to Cooksmill
NetSystems Inc., it would discontinue the continuing losses of the Company, and
would position the Company to be more attractive for potential transactions
including, but not limited to, corporate merger or acquisition.  At
this time the Company has not entered into any potential transactions related to
corporate merger or acquisition.





At the
Annual Meeting of Shareholders held on November 25, 2009 the shareholders
unanimously approved Cooksmill NetSystems Inc to acquire all of the intangible
assets of the Company, which were comprised of twenty-four websites for the debt
owed to Cooksmill NetSystems Inc. of $46,000 in lieu of cash
payment.  As the operations of the Company consisted solely of the
intangible assets comprised of the twenty-four websites, the divestiture of the
intangible assets of the Company discontinued all of the operations within
Oldwebsites.com.





The
completion date of this transaction was at the end of the business day on
November 30, 2009.





The
shareholders of the Company did not receive any consideration as a result of the
sale.  There was no impact from the sale of the intangible assets on
the ownership of the Company.  In our view this will not have any
federal income tax consequences to the shareholders.





Discontinuing
the operations within the Company did not affect its classification as a shell
company. The stock of the Company continues to be publicly
traded.  The stock of the Company will continue to have a market and
be traded on the Over The Counter Bulletin Board (OTCBB).





With the
sale of the intangible assets, the Company no longer has any operations or
future revenues, and is actively pursuing potential transactions including, but
not limited to, financings, corporate merger or acquisition.


9





Results
of Operations





The
Company has an accumulated deficit, negative cash flows from operations and
losses since inception. This situation raises substantial doubt about its
ability to continue as a going concern.  The Company believed that the
shift in the focus of the operations would be sufficient to fund its ongoing
operations but this was not realized. The Company was unsuccessful in these
efforts and discontinued its operations with the sale of its intangible assets
on November 30, 2009.





Sales
Revenues





For
      the Year Ended December 31,2009
            
            2008Sales
      Revenues
            
            $
            5,691
            
            
            $
            7,627





Prior to
November 30, 2009 and the sale of the assets of the Company, Oldwebsites.com,
Inc., operated an online exchange for buying and selling old web sites and
domain names. This was through the custom development of websites with a 3 to 5
year time sale horizon.   The Company anticipated capturing
revenue by charging a percentage of the value of the web sites or domain names
sold in the exchange.  To date, no websites had been sold through the
exchange.





At a
board meeting held on September 24, 2009, the Board of Directors decided that
due to the economic downturn, that the Company could no longer sustain the
business plan of the development of websites with a 3 to 5 year time sale
horizon.  As the Company has accumulated deficits, negative cash flows
from operations, and losses since inception the Company can no longer sustain
these operations as a going concern.





The only
sales revenue being recorded by the Company was from an affiliate marketing
agreement with Cooksmill NetSystems, Inc.  Cooksmill NetSystems, Inc.
paid the Company (the “Affiliate”) a commission on net pay-per-lead sales
generated by customers referred by the Company’s web
sites.





Operating
Expenses





For
      the Year Ended December 31,2009
            
            2008Operating
      Expenses
            
            $
            29,963
            
            
            $
            65,145





Operating
Expenses decreased in 2009 over 2008 by $35,182. During 2009, management
addressed the decreasing sales and drastically cut expenses as far back as
possible.





Net
Profit / Loss





For
      the Year Ended December 31,2009
            
            2008Net
      Loss
            
            $
            (24,272
            )
            
            $
            (57,518
            )





The
Company shows a net annual loss of $24,272 in 2009.  As discussed
above, the only revenue being recorded by the Company was from an affiliate
marketing agreement with Cooksmill NetSystems, Inc. As the Company could no
longer be sustained as a going concern, management significantly cut expenses to
compensate for the decline in revenues.


10




Cash
Position





The
Company’s cash position recorded at December 31, 2009 of $1,536 decreased from
the December 31, 2008 cash position of $1,758.





This
reduction in cash is the direct result of the Company having minimal sales
activity while incurring the expenses mentioned above.





The
Company had received a working capital loan of $54,000, from Cooksmill
NetSystems Inc. to allow the Company to pay for expenses.  This amount
due to Cooksmill NetSystems Inc was partially eliminated in exchange for the
intangible assets of the Company, leaving a balance of $8,000 as of December 31,
2009.





Future
Plans for Expansion





With the
sale of the intangible assets the Company no longer has any operations or
revenues and is actively pursuing potential transactions including, but not
limited to, financings, corporate merger or acquisition.





Off
Balance Sheet Arrangements





None





ITEM
7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK





As a
“smaller reporting company” (as defined by Item 10 of Regulation S-K), the
Company is not required to provide information required by this Item, as defined
by Regulation S-K Item 305(e).


11


ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTAL DATA








OLDWEBSITES.COM,
INC.


INDEX
TO FINANCIAL STATEMENTS





PageReport
      of Independent Registered Public Accounting Firm
            F-1Balance
      Sheets
            F-2Statements
      of Operations
            F-3Statement
      of Stockholders' Equity (Deficit)
            F-4Statements
      of Cash Flows
            F-5Notes
      to Financial Statements
            F-6








12





HANSEN, BARNETT & MAXWELL,
      P.C.A
      Professional Corporation
            
            Registered
      with the Public CompanyCERTIFIED
      PUBLIC ACCOUNTANTS
            
            Accounting
      Oversight Board5
      Triad Center, Suite 750Salt
      Lake City, UT 84180-1128Phone:
      (801) 532-2200
              Fax:
      (801) 532-7944www.hbmcpas.com





REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To the
Shareholders and the Board of Directors


Oldwebsites.com,
Inc.








We have
audited the balance sheets of Oldwebsites.com, Inc. as of December 31, 2009 and
2008 and the related statements of operations, stockholders' deficit and cash
flows for the years then ended. 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 the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Company is not required
to have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audit included consideration of internal control over
financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company’s internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, 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 Oldwebsites.com, Inc. as of
December 31, 2009 and 2008 and the results of its operations and cash flows for
the years then ended, 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. The Company’s sale of operations, negative
cash flows from operations and accumulated deficit raise substantial doubt about
its ability to continue as a going concern. Management’s plans regarding those
matters are also described in Note 1. The financial statements do not include
any adjustments that might result from the outcome of this
uncertainty.











/s/
      HANSEN, BARNETT & MAXWELL, P.C.





Salt Lake
City, Utah


March 11,
2010


F-1


OLDWEBSITES.COM,
INC


BALANCE
SHEETS





December
      31,
                
                
                December
      31,2009
                
                
                2008ASSETSCurrent
      AssetsCash
                
                $
                1,536
                
                
                $
                1,758Total
      Assets
                
                
                1,536
                
                
                
                1,758LIABILITIES
      AND STOCKHOLDERS' DEFICITCurrent
      LiabilitiesAccrued
      expenses
                
                
                11,600
                
                
                
                11,550Loan
      payable to related party
                
                
                8,000
                
                
                
                30,000Total
      Current Liabilities
                
                
                19,600
                
                
                
                41,550Stockholders'
      DeficitCommon
      shares - $0.00 par value; 150,000,000 sharesauthorized; 7,909,345
      shares issued and outstanding, respectively
                
                
                131,927
                
                
                
                131,927Additional
      paid-in capital
                
                
                46,000
                
                
                
                -Accumulated
      deficit
                
                
                (195,991
                )
                
                
                (171,719
                )Total
      Stockholders' Deficit
                
                
                (18,064
                )
                
                
                (39,792
                )Total
      Liabilities and Stockholders' Deficit
                
                $
                1,536
                
                
                $
                1,758


The
accompanying notes are an integral part of these financial
statements.


F-2


OLDWEBSITES.COM,
INC.


STATEMENTS
OF OPERATIONS




For
      The YearsEnded
      December 31,2009
              
              
              2008Sales
              
              $
              5,691
              
              
              $
              7,627Selling,
      general and administrative expenses
              
              
              (29,963
              )
              
              
              (65,145
              )Net
      Loss
              
              $
              (24,272
              )
              
              $
              (57,518
              )Basic
      and Diluted Loss Per Common Share
              
              $
              -
              
              
              $
              -Weighted-Average
      Common Shares Outstanding
              
              
              7,909,345
              
              
              
              7,909,345





The
accompanying notes are an integral part of these financial
statements.


F-3


OLDWEBSITES.COM,
INC.


STATEMENT
OF STOCKHOLDERS’ EQUITY (DEFICIT)


FOR
THE YEARS ENDED DECEMBER 31, 2008 AND 2009





Common
      Shares
                
                
                Additional
                
                
                Accumulated
                
                
                Stockholders'Shares
                
                
                
                Amount
                
                
                
                Paid-in
      Capital
                
                
                
                Deficit
                
                
                
                Equity
      (Deficit)Balance
      - December 31, 2007
                
                
                7,909,345
                
                
                $
                131,927
                
                
                $
                -
                
                
                $
                (114,201
                )
                
                $
                17,726Net
      loss for the year ended December 31, 2008
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (57,518
                )
                
                
                (57,518
                )Balance
      - December 31, 2008
                
                
                7,909,345
                
                
                
                131,927
                
                
                
                -
                
                
                
                (171,719
                )
                
                
                (39,792
                )Contribution
      for related party sale of intangible assets
                
                
                -
                
                
                
                -
                
                
                
                46,000
                
                
                
                -
                
                
                
                46,000Net
      loss for the year ended December 31, 2009
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (24,272
                )
                
                
                (24,272
                )Balance
      - December 31, 2009
                
                
                7,909,345
                
                
                $
                131,927
                
                
                $
                46,000
                
                
                $
                (195,991
                )
                
                $
                (18,064
                )





The
accompanying notes are an integral part of these financial
statements.


F-4


OLDWEBSITES.COM,
INC.


STATEMENTS
OF CASH FLOWS





For
      the Years Ended December 31,
              
              2009
              
              2008Cash
      Flows From Operating Activities:Net
      loss
              
              $
              (24,272
              )
              
              $
              (57,518
              )Changes
      in assets and liabilities:Accrued
      expenses
              
              
              50
              
              
              
              4,250Net
      Cash Used in Operating Activities
              
              
              (24,222
              )
              
              
              (53,268
              )Cash
      Flows From Investing Activities
              
              
              -
              
              
              
              -Cash
      Flows From Financing Activities:Cash
      proceeds from loan payable to related party
              
              
              24,000
              
              
              
              30,000Cash
      Flows Provided by Financing Activities
              
              
              24,000
              
              
              
              30,000Net
      Change in Cash
              
              
              (222
              )
              
              
              (23,268
              )Cash
      at Beginning of Period
              
              
              1,758
              
              
              
              25,026Cash
      at End of Period
              
              $
              1,536
              
              
              $
              1,758Non-cash
      Investing and Financing Activities:Shareholder
      contribution from related party sale of ingangible assetsin lieu
      of payment of related party loan payable
              
              $
              46,000
              
              
              $
              -


The
accompanying notes are an integral part of these financial
statements.


F-5


OLDWEBSITES.COM,
INC.


NOTES
TO FINANCIAL STATEMENTS


DECEMBER
31, 2009 AND 2008





NOTE
1-ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES





Basis of
Presentation - The accompanying financial statements present the
financial position of Oldwebsites.com, Inc. (the Company) and the results of the
operations and cash flows in accordance with accounting principles generally
accepted in the United States of America.





Business
Condition – These financial statements have been prepared assuming the
Company will continue as a going concern. As of December 31, 2009, the Company
has an accumulated deficit of $195,991 and has experienced negative cash flows
from operations and losses since inception. This situation raises substantial
doubt about its ability to continue as a going concern.  The Company
believed that the recent reduction in operating expenses would be sufficient to
fund its ongoing operations but this was not realized. The Company was
unsuccessful in these efforts and discontinued its operations with the sale of
its intangible assets on November 30, 2009, as further described in Note 2. The
accompanying financial statements do not include any adjustments related to the
recoverability and classification of assets or the amounts and classification of
liabilities that might be necessary should the Company be unable to continue as
a going concern.





Operations–All of the intangible
assets of the Company, with a zero book value, were sold on November 30, 2009
resulting in the discontinuing of all operations of the Company.





Use of
Estimates - The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting periods.
Actual results could differ from those estimates.





Fair Values of
Financial Instruments - Due to their near-term nature, the amounts
reported as cash, accrued expenses and loan payable to related party are
considered to be reasonable approximations of their fair values.





Revenue
Recognition – Through November 30, 2009, the Company had an affiliate
marketing agreement with Cooksmill NetSystems, Inc.  Through this
affiliate marketing agreement, Cooksmill NetSystems, Inc. paid the Company (the
“Affiliate”) a commission on net Pay-Per-Lead service sales generated by
customers referred by the Company’s web sites.





Income
Taxes — The Company recognizes an asset or liability for the deferred tax
consequences of all temporary differences between the tax basis of assets or
liabilities and their reported amounts in the financial statements that will
result in taxable or deductible amounts in future years when the reported
amounts of the asset or liabilities are recovered or
settled.  Deferred tax assets or liabilities are measured using the
enacted tax rates that will be in effect when the differences are expected to
reverse.  Deferred tax assets are reviewed periodically for
recoverability and valuation allowances are provided as necessary. Assets and
liabilities are established for uncertain tax positions taken or positions
expected to be taken in income tax returns when such positions are judged to not
meet the “more-likely-than-not” threshold based on the technical merits of the
positions. Estimated interest and penalties related to uncertain tax positions
are included as a component of selling, general and administrative
expense.


F-6





Basic and Diluted
Income (Loss) per Common Share - Basic income (loss) per common share is
calculated by dividing net income (loss) by the weighted-average number of
common shares outstanding. Diluted income per common share is calculated by
dividing net income by the weighted-average number of common shares outstanding
to give effect to potentially issuable common shares, except during loss periods
when those potentially issuable shares are anti-dilutive. As of December 31,
2009 and 2008, the Company had no common stock equivalents
outstanding.





Subsequent Events
–Subsequent events have been evaluated through March 11, 2010, the date
which these financial statements were available to be issued.





NOTE
2-RELATED PARTY TRANSACTIONS





The
Company had an agreement with Inter-Continental Recycling, Inc. and its wholly
owned subsidiary, Cooksmill NetSystems, Inc. to provide various services for the
Company. Inter-Continental Recycling, Inc., and as such, Cooksmill NetSystems,
Inc., is 100% owned by the immediate family of the President of the
Company.





As of
November 30, 2009, the Company had received a loan of $46,000 from Cooksmill
NetSystems, Inc. This loan was eliminated on November 30, 2009 in exchange for
the intangible assets of the Company through a shareholder contribution to
additional paid-in capital.  Additional working capital loans of
$8,000 were received during December 2009.  These loans enable the
Company to pay expenses such as legal and accounting fees.  This note
payable is due on demand and bears no interest.





Cooksmill
NetSystems Inc. provided Rhodium Webweaver Services to the Company for website
management and e-commerce software (ISP) and the fees for this service were
billed to the Company on a monthly basis. The Rhodium Webweaver Services (ISP)
charges for each of the years ended December 31, 2009 and 2008 were $8,250 and
$9,000, respectively.





All
management and staff were retained on an unwritten contract basis under a
related party transaction with Inter-Continental Recycling Inc. Because of the
affiliation between Inter-Continental and the Company, the agreement between
them had no definite duration and would continue as necessary for the conduct of
business by the Company. Inter-Continental assigned and provided employees to
the Company as long as the Company required them and could pay the associated
costs. Inter-Continental provided services to and for the Company by employees
of Inter-Continental. There was no mark-up or other charges incurred by the
Company from Inter-Continental and the Company paid the same amount for services
for the Inter-Continental employees, as did Inter-Continental.  The
management/staff charges for the years ended December 31, 2009 and 2008 were $0
and $19,319, respectively.





The
Company engaged in an affiliate marketing agreement with Cooksmill NetSystems,
Inc. on January 1, 2008.  Through this affiliate marketing agreement,
Cooksmill NetSystems, Inc. paid the Company (the “Affiliate”) a commission on
net Pay-Per-Lead service sales generated by customers referred by the Company’s
web sites.





The
Company has office space in a facility owned by the family of the President of
the Company.


F-7





NOTE
3-STOCKHOLDERS' EQUITY





The
Company is authorized to issue 150,000,000 common shares with no par
value.





On June
6, 2007 Maydao Corporation announced the spin-off of Oldwebsites.com, Inc.
effective September 7, 2007.  The spin-off was in the form of a
pro-rata share dividend to Maydao Corporation common shareholders.  On
September 7, 2007, the common shareholders of record of Maydao Corporation
received one share of Oldwebsites.com, Inc. for every ten shares of Maydao
Corporation.   The remaining undistributed share balance of
1,190,655 shares was returned to the company.   The balance of
issued and outstanding shares of Oldwebsites.com, Inc. as of December 31, 2009
is 7,909,345.





NOTE
4-INCOME TAXES





The
Company files tax returns in the U.S. Federal jurisdiction and, in the state of
Utah.  The Company is no longer subject to U.S. federal tax
examinations for tax years before and including December 31, 2006. During
the years ended December 31, 2009 and 2008, the Company did not recognize
interest and penalties.





Deferred
tax assets are comprised of the following at December 31, 2009 and
2008:





December
      31,
              
              2009
              
              
              2008Operating
      Loss Carry Forward
              
              $
              43,234
              
              
              $
              51,339Less:  Valuation
      allowances
              
              
              (43,234
              )
              
              
              (51,339
              )Net
      Deferred Tax Asset
              
              $
              -
              
              
              $
              -





The
Company had no income tax expense for the years ended December 31, 2009 and 2008
due to the realization of net operating loss carry-forwards.





The
following is a reconciliation of the amount of expense that would result from
applying federal statutory rates to pretax loss with the provision for income
taxes for the years ended December 31:





For
      the years ended December 31,
              
              2009
              
              
              2008Tax
      benefit at statutory rate 34%
              
              $
              (8,252
              )
              
              $
              (19,556
              )Non-deductible
      expenses
              
              
              17,158
              
              
              
              -Benefit
      of operating loss carryforwards
              
              
              (4,346
              )
              
              
              -Change
      in deferred tax asset valuation allowance
              
              
              (3,759
              )
              
              
              21,454Other
              
              
              (801
              )
              
              
              (1,898
              )Net
      Income Tax Expense
              
              $
              -
              
              
              $
              -





The
Company has U.S. federal operating loss carry forwards of $115,909 that expire
from 2020 through 2029. The uses of U.S. operating loss carry forwards are
limited and may not be available to offset future income.


F-8


ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURES





There are
currently no disagreements or changes pending with the Company’s
accountants.





ITEM
9A(T). CONTROLS AND PROCEDURES





Evaluation of Disclosure
Controls:We
evaluated the effectiveness of the design and operation of our “disclosure
controls and procedures” as defined in Rule 13a-15(e) under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the
period covered by this report. This evaluation (the “disclosure controls
evaluation”) was done under the supervision and with the participation of
management, including our chief executive officer (“CEO”) and chief financial
officer (“CFO”). Rules adopted by the SEC require that in this section of our
Annual Report on Form 10-K we present the conclusions of the CEO and the CFO
about the effectiveness of our disclosure controls and procedures as of the end
of the period covered by this report based on the disclosure controls
evaluation.




Objective of Controls: Our
disclosure controls and procedures are designed so that information required to
be disclosed in our reports filed or submitted under the Exchange Act, such as
this Annual Report on Form 10-K, is recorded, processed, summarized and reported
within the time periods specified in the SEC’s rules and forms. Our disclosure
controls and procedures are also intended to ensure that such information is
accumulated and communicated to our management, including the CEO and CFO, as
appropriate to allow timely decisions regarding required disclosure. There are
inherent limitations to the effectiveness of any system of disclosure controls
and procedures, including the possibility of human error and the circumvention
or overriding of the controls and procedures. Accordingly, even effective
disclosure controls and procedures can only provide reasonable assurance of
achieving their control objectives, and management necessarily is required to
use its judgment in evaluating the cost-benefit relationship of possible
disclosure controls and procedures




Management’s Report on Internal
Control over Financial Reporting: Based upon the disclosure controls
evaluation, our CEO and CFO have concluded that as of the end of the period
covered by this report, our disclosure controls and procedures were effective to
provide reasonable assurance that the foregoing objectives are
achieved.





Changes in Internal Control over
Financial Reporting: There were no changes in our internal control over
financial reporting during the year ended December 31, 2009 that have materially
affected, or are reasonably likely to materially affect, our internal control
over financial reporting.


13





Part
III





ITEM
10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE





The
directors and officers of the Company are as follows:








Name
            
            Age
            
            Position
            
            Term
      of OfficeJames
      Roszel
            
            28
            
            Chairman
      of the Board,
            
            08/99
      to Present(Note
      1)
            
            
            
            PresidentPaul
      Roszel
            
            53
            
            Director
            
            08/99
      to Present(Note
      1)Terrence
      Millie
            
            32
            
            Director
            
            08/99
      to PresentRichard
      Ivanovick, C.A.
            
            69
            
            Chief
      Financial Officer
            
            08/99
      to Present





(Note
1)  James Roszel is the son of Paul Roszel





For the
past nine years James Roszel has been responsible for the ongoing marketing, and
participated in business development, of Maydao Corporation.  James
Roszel is a Director of Maydao Corporation and Scrap China Corporation,a
former wholly owned subsidiary of Maydao Corporation.James
Roszel has been the President and a Director of Oldwebsites.com, Inc., formerly
Fiberglass.com, Inc., since its inception.





For the
past thirteen years Paul Roszel has been responsible for the ongoing development
and promotion of Maydao Corporation.  Mr. Roszel is the founding
director, Chairman of the Board and President, of Maydao Corporation. Paul
Roszel is the Chief Executive Officer and President of Scrap China Corporation,
a former wholly owned subsidiary of Maydao Corporation.  Mr. Roszel
has over 30 years of hands on experience in the recycling industry. He has been
actively involved in the development and implementation of collection,
processing, transportation and sales/marketing programs for secondary
commodities.





For the
past nine years Terrence Millie has been involved in the development of
Oldwebsites.com, Inc. formerly Fiberglass.com, Inc. He has also been involved in
the development of Maydao Corporation and of Scrap China Corporation, a former
wholly owned subsidiary of Maydao Corporation.





Richard
R. Ivanovick C.A. joined the Company in August 1999 as the Chief Financial
Officer.  For the past 30 years, Richard R. Ivanovick C.A. has been
serving as President of Marsh Tire Service Ltd., Ontario, Canada, a company
involved in automobile service, sales and leasing of automobiles, in the Guelph,
Ontario area.  Richard R. Ivanovick is the Chief Financial Officer and
Director of Maydao Corporation and Scrap China Corporation, a former wholly
owned subsidiary of Maydao Corporation.





Involvement
in Certain Legal Proceedings





To the
knowledge of the Company there are no pending or threatened litigation or
proceedings against the Company.


14





Indemnification
of Directors and Officers





Section
16-10a-901 through 909 of the Utah Revised Business Corporation Act authorizes a
corporation's board of directors or a court to award indemnification to
directors and officers in terms sufficiently broad to permit such
indemnification under certain circumstances for liabilities (including
reimbursement for expenses incurred, including counsel fees) arising under the
Securities Act of 1933. A director of a corporation may only be indemnified if:
(1) the conduct was in good faith; and (2) the director reasonably believed that
the conduct was in or not opposed to the corporation's best interest; and (3) in
the case of any criminal proceeding, the director had no reasonable cause to
believe the conduct was unlawful. A corporation may not indemnify a person under
the Utah Act unless and until the corporation's board of directors has
determined that the applicable standard of conduct set forth above has been
met.





The
Company's Articles of Incorporation do not provide for any additional or
different indemnification procedures other than those provided by the Utah Act,
nor has the Company entered into any indemnity agreements with its current
directors and officers regarding the granting of other or additional or
contractual assurances regarding the scope of the indemnification allowed by the
Utah Act. At present, there is no pending litigation or proceeding involving a
director, officer or employee of the Company regarding which indemnification is
sought, nor is the Company aware of any threatened litigation that may result in
claims or indemnification. The Company has not obtained director's and officer's
liability insurance, although the board of directors of the Company may
determine to investigate and, possibly, acquire such insurance in the
future.





Involvement
in Certain Legal Proceedings





None





ITEM
11. EXECUTIVE COMPENSATION





The
following table shows compensation earned during the fiscal years 2009 and 2008
by the Officers and Directors of the Company.  They are the only
persons who received compensation during those periods. No other miscellaneous
compensation was paid or stock options granted during those
periods.




Summary
Compensation Table





Name
      & Principal Positions
              
              Fiscal
      Year
              
              SalaryJames
      Roszel, President & Chairman
              
              2009
              
              
              -2008
              
              
              19,319Paul
      Roszel, Director
              
              2009
              
              
              -2008
              
              
              -Terrence
      Millie, Director
              
              2009
              
              
              -2008
              
              
              -Richard
      R. Ivanovick, CFO
              
              2009
              
              
              -2008
              
              
              -


15





ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
STOCKHOLDERS MATTERS





The
following tables sets forth, as of the date herein, the share ownership of each
person known by the Company to be the beneficial owner of 5% or more of the
Company's shares, each officer and director individually and all directors and
officers of the Company as a group.





Title
      of Class
            
            Name
      & Address of Beneficial Owner
            
            Amount,
      Nature & Percentage of Beneficial OwnershipCommon
            
            Cooksmill
      NetSystems, Inc.
            
            3,982,113
      shares (voting)
            
            
            50.35
            %(Note
      1)7
      Darren PlaceGuelph,
      Ontario CanadaCommon
            
            James
      Roszel
            
            92,348
      shares (voting)
            
            
            1.17
            %(Note
      2)7
      Darren PlaceGuelph,
      Ontario CanadaCommon
            
            Paul
      Roszel
            
            242,066
      shares (voting)
            
            
            3.06
            %(Note
      1 & 2)7
      Darren PlaceGuelph,
      Ontario CanadaCommon
            
            Terrence
      Millie
            
            158,678
      shares (voting)
            
            
            2.01
            %7
      Sereney St, Box 129Braeside,
      Ontario CanadaCommon
            
            Richard
      R. Ivanovick C.A.
            
            410,563
      shares (voting)
            
            
            5.19
            %23
      Cottontail PlaceCambridge,
      Ontario Canada





Note (1)
Cooksmill NetSystems Inc. is a wholly owned subsidiary of Inter-Continental
Recycling Inc. a company that is owned and beneficially held by Mr. Paul Roszel,
a director of the Company, and his immediate family.


Note (2)
James Roszel is the son of Paul Roszel





ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
INDEPENDENCE





The
Company had an agreement with Inter-Continental Recycling, Inc., an Ontario
Corporation with its head office address at 7 Darren Place, Guelph Ontario.
Inter-Continental Recycling, Inc. is controlled 100% by Mr. Paul Roszel and his
immediate family. Inter-Continental Recycling Inc. operates a pool of qualified
personnel, working on development projects, computer programming updates and
sales activities for various companies.  From this pool of personnel,
Inter-Continental assigned and provided employees to the Company as long as the
Company required them and could pay the associated costs.





Through
November 2009, Oldwebsites.com, Inc. was billed $750 monthly for direct costs
for web hosting fees and utilization of bandwidth. The Company was also billed
monthly for services supplied directly for management and sales activities,
which vary monthly based on the activity level.





Cooksmill
NetSystems, Inc. is a wholly owned subsidiary of Inter-Continental Recycling
Inc. a company that is owned and beneficially held by Mr. Paul Roszel, a
director of the Company.  Mr. Roszel and his immediate family own
3,982,113 common shares of Oldwebsites.com, Inc.





As of
November 30, 2009, the Company had received a working capital loan of $46,000,
from Cooksmill NetSystems, Inc. to allow the Company to pay for
expenses.  This loan was eliminated in exchange for the intangible assets
of the Company on November 30, 2009.   Additional working capital
loans of $8,000 were received in December 2009 from Cooksmill NetSystems
Inc.  The Company anticipates that Cooksmill NetSystems, Inc., if
required, will provide additional funds, however, there is no assurance that
future funds will be loaned.  This loan is due on demand and bears no
interest.


16





Mr. Paul
Roszel, through his holdings, controls the majority of the shares in
Oldwebsites.com, Inc.





Paul
Roszel is the Chief Executive Officer and founding director of Maydao
Corporation, the former parent Company of Oldwebsites.com, Inc.  James
Roszel is the son of Paul Roszel.





There are
no other transactions during 2009, or proposed transactions, between the Company
and any director or officer or greater than 5% shareholder in which such persons
had or is to have a direct or indirect material interest. The Company has no
stock options; option plans or other incentive compensation plans at the present
time, although the Company anticipates that it may adopt incentive compensation
plans in the future. Further, the Company has no formal management or employment
agreements with any of its officers, directors or other employees.





Officers,
directors, and greater than 5% shareholders, of the Company may have a direct or
indirect interest in future potential businesses or entities in the recycling
industry.





Promoters
of the Company





The
promoter of the Company is Mr. Paul Roszel. Mr. Roszel is the founding Director
and CEO of Maydao Corporation, the parent company of Oldwebsites.com,
Inc.





Description
of Securities





The
Company is authorized to issue 150,000,000 common shares with no par
value of which 7,909,345 common shares were issued and outstanding at
December 31, 2009.





On June
6, 2007, Maydao Corporation, the former parent Company announced a pro-rata
spin-off of all shares of Oldwebsites.com, Inc. to its shareholders effective
September 7, 2007.




The
common shareholders of Maydao received one share of Oldwebsites.com, Inc. for
every ten shares of Maydao common stock.  The Board of Directors of Maydao
decided to distribute the Oldwebsites.com, Inc. shares to the Maydao
shareholders to benefit its shareholders and to separate the different lines of
business.





As of the
date of the spin-off, Oldwebsites.com, Inc. functioned as its own fully
reporting entity.





There are
no provisions in the amended Articles of Incorporation of the Company that would
delay, defer, or prevent a change in control of the Company. The Company has no
debt securities issued and the Company does not contemplate issuing any in the
near future.


17





ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES





Hansen,
Barnett & Maxwell P.C. served as the Company’s Independent Registered Public
Accountants for the year ended December 31, 2009 and are expected to serve in
that capacity for the current year. Principal accounting fees for professional
services rendered for the Company by Hansen, Barnett & Maxwell P.C. for the
years ended December 31, 2009 and 2008 are summarized as follows:





2009
              
              2008Audit
      Fees
              
              $
              15,000
              
              
              $
              14,250Audit
      related
              
              
              -
              
              
              
              -Tax
              
              
              1,700
              
              
              
              1,400All
      other
              
              
              -
              
              
              
              -Total
              
              $
              16,700
              
              
              $
              15,650




Audit
Fees.Audit fees were
for professional services rendered in connection with the Company’s annual
financial statement audits and quarterly reviews of financial statements and
review of and preparation of consents for registration statements for filing
with the Securities and Exchange Commission.





Tax
Fees.  Tax fees related to services for tax compliance and
consulting.





Audit Committee
Pre-Approval Policies and Procedures.  At its regularly
scheduled and special meetings, the Board of Directors, which is comprised of
independent directors knowledgeable of financial reporting, considers and
pre-approves any audit and non-audit services to be performed by the Company’s
independent accountants. The Board of Directors has the authority to grant
pre-approvals of non-audit services.






Part
IV





ITEM
15. EXHIBITS





a)
Exhibits.





Exhibit
3.1 (a) – Articles of Incorporation  - August 26, 1999*





Exhibit
3.1 (b) – Articles of Incorporation  - December 28, 2006*





Exhibit
3.1 (c) – Amendment of Name Change*





Exhibit
31.1 – Certification of the President and Director pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002





Exhibit
31.2 – Certification of the Chief Financial Officer pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002





Exhibit
32.1 – Certification of the President and Director pursuant to U.S.C Section
1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002





Exhibit
32.2 – Certification of the Chief Financial Officer pursuant to U.S.C Section
1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002


________________


*
Previously filed





(b)
Reports on Form 8-K.




Item
8.01. Other Events – Announcement of resolution for pro-rata spin off of
Oldwebsites.com, Inc.





Exhibit
20 - Consent Resolution dated June 6, 2007


18


SIGNATURES





Pursuant
to the requirements of Section 13 or 15(d) of the Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.





Oldwebsites.com,
Inc.





March 15,
2010











BY:
      /s/ James RoszelJames
      Roszel, President








Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been
signed below by the following persons, on behalf of the registrant, and in the
capacities and on the dates indicated.





March
      15, 2010BY:
      /s/ James RoszelJames
      Roszel, PresidentMarch
      15, 2010BY:
      /s/ Richard R. IvanovickRichard
      R. Ivanovick, C.A., CFO









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