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<SEC-DOCUMENT>0001078782-10-001730.txt : 20100806
<SEC-HEADER>0001078782-10-001730.hdr.sgml : 20100806
<ACCEPTANCE-DATETIME>20100806114105
ACCESSION NUMBER:		0001078782-10-001730
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100630
FILED AS OF DATE:		20100806
DATE AS OF CHANGE:		20100806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRAMEWAVES INC
		CENTRAL INDEX KEY:			0000788611
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS REPAIR SERVICES [7600]
		IRS NUMBER:				820404220
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-02783-S
		FILM NUMBER:		10996978

	BUSINESS ADDRESS:	
		STREET 1:		1981 EAST 4800 SOUTH SUITE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84117
		BUSINESS PHONE:		801-272-9294

	MAIL ADDRESS:	
		STREET 1:		1981 EAST 4800 SOUTH SUITE 100
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESSIDOR LTD
		DATE OF NAME CHANGE:	20010122
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>frame10q063010.htm
<DESCRIPTION>JUNE 30, 2010 10-Q
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>10-Q</TITLE>
<META NAME="author" CONTENT="Cletha A. Walstrand">
<META NAME="date" CONTENT="08/02/2010">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:720px"><P style="margin:0px" align=center>UNITED STATES</P>
<P style="margin:0px" align=center>SECURITIES AND EXCHANGE COMMISSION</P>
<P style="margin:0px" align=center>Washington, D.C. 20549</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center><B>FORM 10-Q</B></P>
<P style="margin:0px">(Mark One)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Grinched,Times New Roman">&nbsp;<FONT style="margin-bottom:1.333px; padding-top:1.333px; font-size:6pt; border:1px solid #000000">&nbsp;X </FONT><FONT style="font-size:6pt; color:#FFFFFF">. </FONT><FONT style="font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">For the quarterly period ended <B>June 30, 2010.</B></P>
<P style="margin:0px; text-indent:288px">or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Grinched,Times New Roman">&nbsp;<FONT style="margin-bottom:1.333px; padding-top:1.333px; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-size:6pt; color:#FFFFFF">. </FONT><FONT style="font-family:Times New Roman"><B>&nbsp;&nbsp;&nbsp;TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">For the transition period from _______________________ &nbsp;to &nbsp;___________________________</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center>Commission File Number: &nbsp;<FONT style="font-family:Grinched,Times New Roman; font-size:11pt"><B>33-2783-S</B></FONT></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=center><B><U>FRAMEWAVES, INC.</U></B></P>
<P style="margin:0px" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0px" align=center><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=357.6 /><TD width=348 /></TR>
<TR><TD style="margin-top:0px" valign=top width=357.6><P style="margin:0px" align=center><B><U>Nevada</U></B></P>
</TD><TD style="margin-top:0px" valign=top width=348><P style="margin:0px; font-family:Grinched,Times New Roman" align=center><B><U>82-0404220</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=357.6><P style="margin:0px" align=center>(State or other jurisdiction of incorporation or organization)</P>
</TD><TD style="margin-top:0px" valign=top width=348><P style="margin:0px" align=center>(I.R.S. Employer Identification No.)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=357.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=348><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=357.6><P style="margin:0px" align=center><B><U>1981 East 4800 South, Suite 100</U></B></P>
<P style="margin:0px" align=center><B><U>Salt Lake City, UT</U> &nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=348><P style="margin:0px" align=center><B><U>84117</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=357.6><P style="margin:0px" align=center>(Address of principal executive offices)</P>
</TD><TD style="margin-top:0px" valign=top width=348><P style="margin:0px" align=center>(Zip Code)</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B><U>(801) 272-9294</U></B><U> </U></P>
<P style="margin:0px" align=center>(Registrant&#146;s telephone number, including area code)</P>
<P style="margin:0px" align=center>_______________________________________________________</P>
<P style="margin:0px" align=center>(Former name, former address and former fiscal year, if changed since last report)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;X </FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;&nbsp;Yes &nbsp;<FONT style="font-family:Grinched,Times
 New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;&nbsp;No</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).</P>
<P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;<FONT style="margin-bottom:1.333px; padding-top:1.333px; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;&nbsp;Yes &nbsp;&nbsp;&nbsp;<FONT style="margin-bottom:1.333px; padding-top:1.333px; font-size:6pt; border:1px solid #000000">&nbsp;X </FONT><FONT style="font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;&nbsp;No</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. &nbsp;See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:480px; float:left">Large accelerated filer <FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;</P>
<P style="margin:0px; text-indent:-2px">Accelerated filer <FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">.</FONT></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:480px; float:left">Non-accelerated filer <FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;(Do not check if a smaller reporting company)</P>
<P style="margin:0px; text-indent:-2px">Smaller reporting company <FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;X </FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">.</FONT></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). &nbsp;<FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;X </FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;Yes &nbsp;<FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;&nbsp;No</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center>APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY</P>
<P style="margin:0px" align=center>PROCEEDINGS DURING THE PRECEDING FIVE YEARS:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify>Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. &nbsp;<FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;Yes &nbsp;&nbsp;<FONT style="font-family:Grinched,Times New Roman">&nbsp;</FONT><FONT style="margin-bottom:1.333px; padding-top:1.333px; font-family:Grinched,Times New Roman; font-size:6pt; border:1px solid #000000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="font-family:Grinched,Times New Roman; font-size:6pt; color:#FFFFFF">. </FONT>&nbsp;No</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>APPLICABLE ONLY TO CORPORATE ISSUERS:</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px">Indicate the number of shares outstanding of each of the issuer&#146;s classes of common stock, as of <B>June 30, 2010</B>: &nbsp;<B>1,258,994</B></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><B>PART I - FINANCIAL INFORMATION</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>ITEM 1. &nbsp;FINANCIAL STATEMENTS</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The accompanying financial statements have been prepared by the Company without audit. &nbsp;In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at June 30, 2010 and 2009 and for the periods then ended have been made. &nbsp;Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. &nbsp;It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company&#146;s December 31, 2009 audited financial statements. &nbsp;The results of operations for the periods ended March June 30, 2010 and 2009 are not necessarily indicative of the operating results for the full year.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>2</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center>FRAMEWAVES, INC.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>(A Development Stage Company)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>TABLE OF CONTENTS</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=328.067 /><TD width=40.333 /></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px" align=justify>&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px" align=center><U>Page</U></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px" align=justify>Financial Statements:</P>
</TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px" align=justify>&nbsp;&nbsp;Balance Sheets</P>
</TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px" align=center>4</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin-top:0px; margin-bottom:-2px; width:144px; float:left">&nbsp;&nbsp;Statements of Operations</P>
<P style="margin:0px; text-indent:-2px" align=justify>&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px" align=center>5</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px" align=justify>&nbsp;&nbsp;Statements of Cash Flows</P>
</TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px" align=center>6</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.067><P style="margin:0px" align=justify>&nbsp;&nbsp;Notes to Financial Statements</P>
</TD><TD style="margin-top:0px" valign=top width=40.333><P style="margin:0px" align=center>7</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>3</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center>FRAMEWAVES, INC.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>(A Development Stage Company)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>BALANCE SHEETS</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>JUNE 30, 2010 AND DECEMBER 31, 2009</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=328.8 /><TD width=22.4 /><TD width=88 /><TD width=24 /><TD width=96 /></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=88><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px" align=center>December 31,</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=center><U>Assets</U></P>
</TD><TD style="margin-top:0px" valign=top width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=88><P style="margin:0px" align=center>2010</P>
</TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px" align=center>2009</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Current Assets:</P>
</TD><TD style="margin-top:0px" valign=top width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Cash<U> </U></P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>48</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Total current assets<U> </U></P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>48</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Total Assets<U> </U></P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=88><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=96><P style="margin:0px" align=right>48</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=center><U>Liabilities and Stockholders' Deficit</U></P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Current Liabilities: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Accounts payable</P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px" align=right>7,735</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px" align=right>8,270</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Accrued interest, stockholder </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px" align=right>4,391</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px" align=right>3,790</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Note payable, stockholder </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88><P style="margin:0px" align=right>15,000</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>15,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Total current liabilities<U> </U></P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88><P style="margin:0px" align=right>27,126</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>27,060</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Stockholders' Deficit:</P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Common stock, $.001 par value</P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;100,000,000 shares authorized, </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;1,258,994 issued and outstanding </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px" align=right>1,259</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px" align=right>1,259</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Additional paid-in capital </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px" align=right>57,252</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px" align=right>49,167</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Deficit accumulated during the development stage </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88><P style="margin:0px" align=right>(85,637)</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>(77,438)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Total stockholders' deficit </P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=88><P style="margin:0px" align=right>(27,126)</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=96><P style="margin:0px" align=right>(27,012)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=88><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=328.8><P style="margin:0px" align=justify>Total Liabilities and Stockholders' Deficit<U> </U></P>
</TD><TD style="margin-top:0px" valign=bottom width=22.4><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=88><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=24><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=96><P style="margin:0px" align=right>48</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify>&nbsp;&nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:-1.4px" align=center>The accompanying notes are an integral part of the financial statements.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>4</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>FRAMEWAVES, INC.</P>
<P style="margin:0px" align=center>(A Development Stage Company)</P>
<P style="margin:0px" align=center>STATEMENTS OF OPERATIONS</P>
<P style="margin:0px" align=center>FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010 AND 2009</P>
<P style="margin:0px" align=center>AND THE PERIOD DECEMBER 31, 1993 (Quasi-Reorganization)</P>
<P style="margin:0px" align=center>THROUGH JUNE 30, 2010</P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=167.2 /><TD width=21.067 /><TD width=83.267 /><TD width=21.067 /><TD width=83.267 /><TD width=21.067 /><TD width=83.267 /><TD width=21.067 /><TD width=83.267 /><TD width=21.067 /><TD width=100.333 /></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style=
"margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>For The Period</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>For The</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>For The</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>For The</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>For The</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>December 31,</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Three</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Three</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Six </P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Six </P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>1993</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Months</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Months</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Months</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Months</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>(Quasi-</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Ended</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Ended</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Ended</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>Ended</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>Reorganization)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>Through</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=83.267><P style="margin:0px" align=center>2010</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=83.267><P style="margin:0px" align=center>2009</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=83.267><P style="margin:0px" align=center>2010</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=83.267><P style="margin:0px" align=center>2009</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=100.333><P style="margin:0px" align=center>June 30, 2010</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style=
"margin-top:0px" valign=top width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">Revenues</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>1,267</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px
">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">Expenses, </P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; paddi
ng:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">&nbsp;&nbsp;general and administrative </P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>1,388</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>1,355</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>7,598</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>4,490</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>82,513</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; paddi
ng:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">Operating loss</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>(1,388)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>(1,355)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>(7,598)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px" align=right>(4,490)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>(81,246)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px
">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">Other Income (Expense)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; paddi
ng:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">&nbsp;&nbsp;Interest expense </P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(300)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(300)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(600)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(600)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>(4,391)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px
">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">Net Loss</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(1,688)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(1,655)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(8,198)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(5,090)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=100.333><P style="margin:0px" align=right>(85,637)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=83.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px
">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=167.2><P style="margin:0px">Net Loss per Share </P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>(.01)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=83.267><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=100.333><P style="margin:0px" align=right>(.12)</P>
</TD></TR>
</TABLE>
<P style="margin:0px">&nbsp;&nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>The accompanying notes are an integral part of the financial statements.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center>5</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center>FRAMEWAVES, INC.</P>
<P style="margin:0px" align=center>(A Development Stage Company)</P>
<P style="margin:0px" align=center>STATEMENTS OF CASH FLOWS</P>
<P style="margin:0px" align=center>FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009</P>
<P style="margin:0px" align=center>AND THE PERIOD DECEMBER 31, 1993 (Quasi-Reorganization)</P>
<P style="margin:0px" align=center>TO JUNE 30, 2010</P>
<P style="margin:0px; padding-right:-12.467px; text-indent:348.4px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=271.2 /><TD width=21.067 /><TD width=89.533 /><TD width=21.067 /><TD width=89.533 /><TD width=21.067 /><TD width=100.333 /></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>For the period</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>December 31,</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>1993</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>For the</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>For the</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>(Quasi-</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>Six Months</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>Six Months</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>Reorganization)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>Ended</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>Ended</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>Through</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px" align=center>June 30,</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px" align=center>June 30,</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=89.533><P style="margin:0px" align=center>2010</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=89.533><P style="margin:0px" align=center>2009</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=100.333><P style="margin:0px" align=center>2010</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Cash flows from operating activities:</P>
</TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;Net loss</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>(8,198)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>(5,090)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>(85,637)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Adjustments to reconcile net income to cash provided by operating activities: &nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;Contribution from shareholder</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>8,085</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>6,335</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>40,601</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;Common stock issued for services</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>5,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding-left:32px; text-indent:-32px">&nbsp;&nbsp;Increase (decrease) in accounts payable and accrued interest</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>65</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>(1,435)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>12,126</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Net cash used by operating activities</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>(48)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>(190)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>(27,910)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Cash flows from investing activities:</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;Cash received in acquisition of subsidiary</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>910</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Cash flows from financing activities:</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;Issuance of common stock</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>12,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;&nbsp;Proceeds from related party note payable</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>15,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Net cash provided by financing activities</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>27,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Net increase(decrease) in cash</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>(48)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px" align=right>(190)</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px" align=right>-</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Cash, beginning of period</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>48</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=89.533><P style="margin:0px" align=right>298</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=100.333><P style="margin:0px" align=right>-</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Cash, end of period &nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.533><P style="margin:0px" align=right>108</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=100.333><P style="margin:0px" align=right>-</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Interest paid &nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.533><P style="margin:0px" align=right>-</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=100.333><P style="margin:0px" align=right>-</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=271.2><P style="margin:0px">Income taxes paid</P>
</TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=89.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=21.067><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; border-bottom:3px double #000000" valign=bottom width=100.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-right:-12.467px" align=center>The accompanying notes are an integral part of the financial statements.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>6</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px" align=center>FRAMEWAVES, INC.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>(A Development Stage Company)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>NOTES TO FINANCIAL STATEMENTS</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:50.4px; float:left">1.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Summary of Business and Significant Accounting Policies</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:50.4px; width:98.4px; float:left">a.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Summary of Business</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:98.4px" align=justify>The Company was incorporated under the laws of the State of Nevada on December 23, 1985. &nbsp;The Company was formed to pursue business opportunities. &nbsp;The Company was unsuccessful in its operations. &nbsp;During 1993, Management determined it was in the best interest of the Company to discontinue its previous operations. &nbsp;The Company is considered to have re-entered into a new development stage on December 31, 1993. &nbsp;Because the Company discontinued its previous operations and is selling new potential business opportunities, the Company adopted quasi-reorganization accounting procedures to provide the Company a &#147;fresh start&#148; for accounting purposes.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:98.4px" align=justify>The Company has not commenced principal operations and is considered a &quot;Development Stage Company&quot; as defined by the Financial Accounting Standards Board No. 7.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:50.4px; width:98.4px; float:left">b.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Cash Flows</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:98.4px" align=justify>For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash or cash equivalents.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:50.4px; width:98.4px; float:left">c.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Net Loss Per Share</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:98.4px" align=justify>The net loss per share calculation is based on the weighted average number of shares outstanding during the period.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:50.4px; width:98.4px; float:left">d.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Use of Estimates</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:98.4px" align=justify>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. &nbsp;Accordingly, actual results could differ from those estimates.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:51.467px; width:99.467px; float:left">e.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Revenue Recognition</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:96px" align=justify>Revenue is recognized on the accrual basis of accounting when earned. The Company's primary business generated revenue from picture framing. The Company has not had any revenue since 2001.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:54px; width:96px; float:left">f.</P>
<P style="margin:0px; padding-left:96px; text-indent:-2px" align=justify><U>Fair Value of Financial Instruments</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>The amounts reported for cash and accounts payable and other financial instruments, none of which are held for trading purposes, are considered to approximate fair values based upon comparable market information available at the respective balance sheet date.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>7</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; text-indent:-0.8px; page-break-before:always" align=justify><U>Notes to Financial Statements &#150; Continued</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:57.467px; width:99.467px; float:left">g.</P>
<P style="margin:0px; padding-left:99.467px; text-indent:-2px" align=justify><U>Income Taxes</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>The Company accounts for income taxes using the asset and liability method in accordance with SFAS No. 109, &#147;Accounting for Income Taxes.&#148; Deferred tax asset and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measure using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized against deferred tax assets when it is more likely than not that the assets will not be realized.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>In May 2007, the FASB issued Staff Position FIN 48-1, &#147;Definition of Settlement in FASB Interpretation No. 48&#148; (&#147;FSP FIN 48-1&#148;), which amends FASB Interpretation No. 48, &#147;Accounting for Uncertainty in Income Taxes-an interpretation of FASB Statement No. 109&#148; (&#147;FIN 48,&#148; together with FSP FIN 48-1 referred as &#147;FIN 48, as amended&#148;). As of January 1, 2009, we adopted the provisions of FIN 48, as amended, which clarify the accounting for uncertainty in income taxes recognized in an enterprise&#146;s financial statements in accordance with SFAS No. 109, &#147;Accounting for Income Taxes.&#148; FIN 48, as amended, prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position an entity takes or expects to take in a tax return. To recognize a tax position, the tax position must be more-likely-than-not </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>sustainable upon examination by the relevant taxing authority, and the relevant measurement of the position must be the largest amount of benefit that we would more than 50% likely realize upon settlement. We would recognize the benefit of a position in the interim reporting period during which it meets the threshold, unless we effectively settle it earlier through examination, negotiation, or litigation or the applicable statute of limitations period expires.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>The Company did not recognize any additional liability for unrecognized tax benefit as a result of the implementation. As of June 30, 2010, the Company did not increase or decrease liability for unrecognized tax benefit related to tax positions in prior period nor did the company increase its liability for any uncertain tax positions in the current year. Furthermore, there were no adjustments to the liability or lapse of statute of limitation or settlements with taxing authorities.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>The Company expects resolution of unrecognized tax benefits, if created would occur while the 100% valuation allowance of deferred tax assets is maintained; therefore, the Company does not expect to have any unrecognized tax benefits that, if recognized, would affect its effective income tax rate.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:99.467px" align=justify>The Company will recognize interest and penalty related to unrecognized tax benefits and penalties as income tax expense. As of June 30, 2010, the Company has not recognized any liabilities for penalty or interest as the Company does not have any liability for unrecognized tax benefits.</P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>8</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=justify><U>Notes to Financial Statements &#150; Continued</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:51.467px; float:left">2.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Quasi-Reorganization</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>December 7, 2000, the shareholders of the Company approved to &nbsp;adopt quasi-reorganization accounting procedures. &nbsp;Quasi-reorganization accounting allowed the Company to eliminate its previous accumulated deficit of approximately $235,000 against additional paid-in capital. &nbsp;Therefore, the adoption of quasi-reorganization accounting procedures gave the Company a &#147;fresh start&#148; for accounting purposes. &nbsp;The Company is also considered as re-entering a new development stage on December 31, 1993, as it discontinued all of its previous operations. &nbsp;These financial statements have been restated to reflect the change. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:51.467px; float:left">3.</P>
<P style="margin:0px; padding-left:51.467px; text-indent:-2px" align=justify><U>Note Payable, Stockholder</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>Since 2005, the Company has borrowed money from a director and officer of the Company. At June 30, 2010 and December 31, 2009, the outstanding balance is $15,000. The note is unsecured, bears interest at 8% and is due on demand.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:51.467px; float:left">4.</P>
<P style="margin:0px; padding-left:51.467px; text-indent:-2px" align=justify><U>Stock Split</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>On December 27, 2000, the Company approved a 100 for 1 reverse split of the issued and outstanding common stock but no shareholder&#146;s ownership shall be less than 100 shares. &nbsp;An additional 43,394 shares were issued as a result of rounding up to the 100 share minimum.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>The 100 for 1 reverse split has been retroactively applied in the accompanying financial statements.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:51.467px; float:left">5.</P>
<P style="margin:0px; padding-left:51.467px; text-indent:-2px" align=justify><U>Amended Articles of Incorporation</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>On December 27, 2000, the Company amended its articles of incorporation to change its name from Messidor Limited to FrameWaves, Inc. &nbsp;In addition, the Company decreased its authorized shares from 500,000,000 to 110,000,000 shares of stock of which 100,000,000 shall be designated common stock and 10,000,000 shall be designated preferred stock. &nbsp;At June 30, 2010, no preferred stock has been issued by the Company. &nbsp;The Company has the authorization to issue the preferred stock in one or more series and to determine the voting rights, preferences as to dividends and liquidation, conversion rights, and other rights of each series.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:51.467px; float:left">6.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Issuance of Common Stock</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>On November 3, 2000, the Company issued 100,000 shares of its $.001 &nbsp;par &nbsp;value &nbsp;common &nbsp;stock &nbsp;for &nbsp;an &nbsp;aggregate &nbsp;price of &nbsp;$10,000. $5,000 was received in cash and $5,000 for services rendered.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>On December 1, 2004, the Company issued 50,000 shares of its common stock for $.14 per share for an aggregate cash price of $7,000.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:51.467px; float:left">7.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Stock Options and Warrants</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:51.467px" align=justify>The Company has designated 2,000,000 shares of its authorized and unissued common stock to a future stock option plan. &nbsp;At June 30, 2010, there are no options or warrants outstanding to acquire the Company&#146;s common stock.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">8.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Income Taxes</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>The Company has had no taxable income under Federal or State tax laws. The Company has loss carryforwards totaling $72,438 that may be offset against future federal income taxes. If not used, the carryforwards will expire between 2020 and 2029. Due to the Company being in the development stage and incurring net operating losses, a valuation allowance has been provided to reduce the deferred tax assets from the net operating losses to zero. Therefore, there are no tax benefits recognized in the accompanying statement of operations.</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>9</P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=justify><U>Notes to Financial Statements - Continued</U></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">9.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Going Concern</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>As shown in the accompanying financial statements, the Company incurred a net loss of $8,198 during the six months ended June 30, 2010 and accumulated losses of $85,637 since quasi-reorganization at December 31, 1993. The Company's current liabilities exceed its current assets by $27,126 at June 30, 2010. These factors create an uncertainty as to the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the success of raising additional capital through the issuance of common stock and the ability to generate sufficient operating revenue. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">10.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Fair Value Measurement</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>We adopted SFAS No. 157 &#147;Fair Value Measurements,&#148; (&#147;SFAS 157&#148;) effective January 1, 2009 for financial assets and liabilities measured on a recurring basis. On February 6, 2008, the FASB deferred the effective date of SFAS 157 for all nonfinancial assets and nonfinancial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis. SFAS 157 defines fair value, establishes a framework for measuring fair value and generally accepted accounting principles and expands disclosures about fair value measurements. This standard applies in situation where other accounting pronouncements either permit or require fair value measurements. SFAS 157 does not require any new fair value measurements. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>Fair value is defined in SFAS 157 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are to be considered from the perspective of a market participant that holds the asset or owes the liability. SFAS 157 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>The standard describes three levels of inputs that may be used to measure fair value:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:84px; width:144px; float:left">Level 1:</P>
<P style="margin:0px; padding-left:84px; text-indent:-2px" align=justify>Quoted prices in active markets for identical or similar assets and liabilities.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:84px; width:144px; float:left">Level 2:</P>
<P style="margin:0px; padding-left:84px; text-indent:-2px" align=justify>Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:84px; width:144px; float:left">Level 3:</P>
<P style="margin:0px; padding-left:84px; text-indent:-2px" align=justify>Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>The carrying amount of the Company&#146;s financial assets and liabilities, including cash, accounts payable, interest payable and notes payable approximate fair value, without being discounted, due to the short-term maturities during which these amounts are outstanding.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">11.</P>
<P style="margin:0px; text-indent:-2px" align=justify><U>Subsequent Events</U></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>On February 23, 2010, the Company received a letter of intent to enter into an Exchange Agreement for all of the Company&#146;s issued and outstanding shares. As of the date of issuance of these financial statements no definitive agreement has been entered into.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center>10</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always"><B>Item 2. &nbsp;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operation</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><B>Forward-Looking Statement Notice</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify>This Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. &nbsp;For this purpose any statements contained in this Form 10-Q that are not statements of historical fact may be deemed to be forward-looking statements. &nbsp;Without limiting the foregoing, words such as &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;believe,&#148; &#147;anticipate,&#148; &#147;estimate&#148; or &#147;continue&#148; or comparable terminology are intended to identify forward-looking statements. &nbsp;These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. &nbsp;These factors include but are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger compet
itors; technological advances and failure to successfully develop business relationships.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Description of Business.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>FrameWaves, Inc. (the &#147;Company&#148; or &#147;FrameWaves&#148;) was originally incorporated under the name of Messidor Limited on December 23, 1985 as a development stage company for the purpose of engaging in all lawful transactions permitted under the State of Nevada, including the acquisition of various business opportunities to provide profit and maximize shareholder value.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>On December 27, 2000, the shareholders, at a special meeting, changed the Company&#146;s name from Messidor Limited to FrameWaves, Inc. &nbsp;The shareholders also approved the acquisition of Corners, Inc. (&#147;Corners&#148;), a Nevada corporation, whereby the Company exchanged 1,000,000 shares of the Company&#146;s common stock for all of Corner&#146;s issued and outstanding shares of common stock. &nbsp;Corners had incorporated on November 17, 1998 in the State of Nevada to provide custom framing for interior designers in conjunction with business contacts provided by Corners&#146; officers and directors. &nbsp;Since its inception, Corners has had limited operations. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>FrameWaves originally intended to use Corners as an operating subsidiary and to actively pursue the custom framing business by utilizing Corners&#146; business contacts to procure contracts for future operations, and to engage in a comprehensive and aggressive marketing campaign, including but not limited to, soliciting unknown but potential business contacts through direct mailings, media, and other mediums that might generate leads to contracts for future operations. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>As of the date of this report, Framewaves has been unsuccessful in implementing its business plan and has no ongoing operations. &nbsp;Due to other obligations the Company&#146;s officers and directors have been unable to devote adequate time to developing the business and have yet to engage in any contract negotiations with frame suppliers, interior designers or retail consumers. Framewaves has had only limited operations since inception and has not generated any revenues since the fourth quarter of 2001. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The Company has now focused its efforts on seeking a business opportunity. &nbsp;The Company will attempt to locate and negotiate with a business entity for the merger of that target company into the Company. In certain instances, a target company may wish to become a subsidiary of the Company or may wish to contribute assets to the Company rather than merge. No assurances can be given that the Company will be successful in locating or negotiating with any target company. The Company will provide a method for a foreign or domestic private company to become a reporting (&#147;public&#148;) company whose securities are qualified for trading in the United States secondary market. &nbsp;We are now considered a &#147;blank check&#148; company. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The Company will attempt to locate and negotiate with a business entity for the merger of that target company into the Company. In certain instances, a target company may wish to become a subsidiary of the Company or may wish to contribute assets to the Company rather than merge. No assurances can be given that the Company will be successful in locating or negotiating with any target company. The Company will provide a method for a foreign or domestic private company to become a reporting (&#147;public&#148;) company whose securities are qualified for trading in the United States secondary market.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We are not restricting our search to any particular industry or geographical area. &nbsp;We may therefore engage in essentially any business in any industry. &nbsp;Our management has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions and other factors.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The selection of a business opportunity in which to participate is complex and extremely risky and will be made by management in the exercise of its business judgment. &nbsp;There is no assurance that we will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to our company and shareholders.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Because we have no specific business plan or expertise, our activities are subject to several significant risks. &nbsp;In particular, any business acquisition or participation we pursue will likely be based on the decision of management without the consent, vote, or approval of our shareholders.</P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>11</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always" align=justify><B><I>Sources of Opportunities</I></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We anticipate that business opportunities may arise from various sources, including officers and directors, professional advisers, securities broker-dealers, venture capitalists, members of the financial community, and others who may present unsolicited proposals.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We will seek potential business opportunities from all known sources, but will rely principally on the personal contacts of our officers and directors as well as indirect associations between them and other business and professional people. &nbsp;Although we do not anticipate engaging professional firms specializing in business acquisitions or reorganizations, we may retain such firms if management deems it in our best interests. &nbsp;In some instances, we may publish notices or advertisements seeking a potential business opportunity in financial or trade publications.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B><I>Criteria</I></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We will not restrict our search to any particular business, industry or geographical location. &nbsp;We may acquire a business opportunity in any stage of development. &nbsp;This includes opportunities involving &#147;start up&#148; or new companies. &nbsp;In seeking a business venture, management will base their decisions on the business objective of seeking long-term capital appreciation in the real value of our company. &nbsp;We will not be controlled by an attempt to take advantage of an anticipated or perceived appeal of a specific industry, management group, or product.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>In analyzing prospective business opportunities, management will consider the following factors:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>available technical, financial and managerial resources;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>working capital and other financial requirements;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the history of operations, if any;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>prospects for the future;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the nature of present and expected competition;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the quality and experience of management services which may be available and the depth of the management;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the potential for further research, development or exploration;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the potential for growth and expansion;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the potential for profit;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>the perceived public recognition or acceptance of products, services, trade or service marks, name identification; and other relevant factors.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify>Generally, our management will analyze all available factors and make a determination based upon a composite of available facts, without relying on any single factor.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B><I>Methods of Participation of Acquisition</I></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Management will review specific business opportunities and then select the most suitable opportunities based on legal structure or method of participation. &nbsp;Such structures and methods may include, but are not limited to, leases, purchase and sale agreements, licenses, joint ventures, other contractual arrangements, and may involve a reorganization, merger or consolidation transaction. &nbsp;Management may act directly or indirectly through an interest in a partnership, corporation, or other form of organization.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B><I>Procedures</I></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>As part of the our investigation of business opportunities, officers and directors may meet personally with management and key personnel of the firm sponsoring the business opportunity. &nbsp;We may visit and inspect material facilities, obtain independent analysis or verification of certain information provided, check references of management and key personnel, and conduct other reasonable measures.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We will generally ask to be provided with written materials regarding the business opportunity. &nbsp;These materials may include the following:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>descriptions of product, service and company history; management resumes;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>financial information;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>available projections with related assumptions upon which they are based;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>an explanation of proprietary products and services;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>evidence of existing patents, trademarks or service marks or rights thereto;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>present and proposed forms of compensation to management;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>a description of transactions between the prospective entity and its affiliates;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>relevant analysis of risks and competitive conditions;</P>
<P style="margin:0px; clear:left" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>12</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>a financial plan of operation and estimated capital requirements;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Wingdings; clear:left; float:left">&#167;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>and other information deemed relevant.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify><B><I>Competition</I></B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>We expect to encounter substantial competition in our efforts to acquire a business opportunity. &nbsp;The primary competition is from other companies organized and funded for similar purposes, small venture capital partnerships and corporations, small business investment companies and wealthy individuals.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Employees</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The Company currently has no employees. &nbsp;Executive officers will devote only such time to the affairs of the Company as they deem appropriate, which is estimated to be approximately 20 hours per month per person. &nbsp;The need for employees will be addressed at such time operations prove successful.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Description of Property</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The Company utilizes office space at 1981 East 4800 South, Suite 100, Salt Lake City, Utah, 84117, provided by Thomas A. Thomsen, shareholder of the Company. &nbsp;The Company does not pay rent for this office space.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Three Month Period Ended June 30, 2010 and 2009</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The Company did not generate any revenue during the three months ended June 30, 2010 and 2009.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>General and administrative expenses for the three months ended June 30, 2010 were $1,388, compared to general and administrative expenses of $1,355 for the same period in 2009. &nbsp;Interest expense at June 30, 2010 was $300 compared to $300 for the same period in 2009. &nbsp;Expenses were largely due to accounting, legal and other professional costs.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>As a result of the foregoing, the Company realized net losses of $1,688 for the three months ended June 30, 2010 compared to $1,655 for the same period in 2009. &nbsp;The Company&#146;s net loss is attributable to a lack of business and ongoing professional costs associated with preparing the Company&#146;s public reports.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Six Month Period Ended June 30, 2010 and 2009</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The Company did not generate any revenue during the six months ended June 30, 2010 and 2009.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>General and administrative expenses for the six months ended June 30, 2010 were $7,598, compared to general and administrative expenses of $4,490 for the same period in 2009. &nbsp;Interest expense for the six months ended June 30, 2010 was $600 compared to $600 for the same period in 2009. &nbsp;Expenses were largely due to accounting, legal and other professional costs.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>As a result of the foregoing, the Company realized net losses of $8,198 for the six months ended June 30, 2010 compared to $5,090 for the same period in 2009. &nbsp;The Company&#146;s net loss is attributable to a lack of business and ongoing professional costs associated with preparing the Company&#146;s public reports.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Liquidity and Capital Resources</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>At June 30, 2010, assets consisted of $-0- in cash. &nbsp;Liabilities consisted of $7,735 in accounts payable, $4,391 in accrued interest and a $15,000 note payable to a stockholder, for total liabilities of $27,126, leaving the Company without any working capital. &nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Since 2005, the Company has borrowed money from a director and officer of the Company. &nbsp;At March 31, 2010 the outstanding balance is $15,000. &nbsp;The note is unsecured, bears interest at 8% and is due on demand.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Currently, the Company has no material commitments for capital expenditures. &nbsp;Management anticipates that operating expenses for the next twelve months will be approximately $8,000 to $10,000. &nbsp;Management understands that it does not have sufficient cash to meet its immediate operational needs and will require additional capital to cover ongoing operating expenses. &nbsp;Management may attempt to raise additional capital for its current operational needs through loans from its officers, debt financing, equity financing or a combination of financing options. &nbsp;However, there are no existing understandings, commitments or agreements for such an infusion; nor can there be assurances to that effect.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P style="margin:0px" align=center>13</P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always" align=justify>On February 22, 2010, the Company executed a non-binding letter of intent for the acquisition of B6 Sigma, Inc., a Delaware corporation. &nbsp;Pending completion of mutually satisfactory due diligence, the parties will enter an agreement whereby the Company will acquire all of the issued and outstanding shares of B6 Sigma, Inc. in exchange for shares of the Company, making B6 Sigma, Inc. a wholly-owned subsidiary of the Company. &nbsp;Additional conditions require the Company to obtain shareholder approval for a name change, increase in authorized capital, a forward split of outstanding shares and adoption of an incentive stock option plan. &nbsp;B6 Sigma, Inc. is obligated to raise at least $1,000,000 prior to closing the transaction. &nbsp;Upon closing, current officers and directors will resign and be replaced with officers and directors selected by B6 Sigma, Inc.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Both parties are in the process of conducting due diligence and the Company has not yet entered a definitive agreement. &nbsp;There is no assurance the parties will consummate the proposed acquisition.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left"><B>Item 3.</B></P>
<P style="margin:0px; text-indent:-2px" align=justify><B>Quantitative and Qualitative Disclosures About Market Risk.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify>Not required by smaller reporting companies.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><B>Item 4T. &nbsp;Controls and Procedures.</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">(a)</P>
<P style="margin:0px; text-indent:-2px" align=justify><I>Evaluation of Disclosure Controls and Procedures.</I> &nbsp;The Company&#146;s management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended). Management conducted an evaluation of the effectiveness of the Company&#146;s internal control over financial reporting based on the criteria set forth in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this evaluation, management has concluded that the Company&#146;s internal control over financial reporting was effective as of June 30, 2010. </P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">(b)</P>
<P style="margin:0px; text-indent:-2px" align=justify><I>Changes in Internal Control over Financial Reporting</I>. &nbsp;There were no changes in the Company's internal controls over financial reporting, known to the chief executive officer or the chief financial officer, that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px" align=center><B>PART II &#150; OTHER INFORMATION</B></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left"><B>Item 6. &nbsp;</B></P>
<P style="margin:0px; text-indent:-2px"><B>Exhibits </B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify>Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-B. </P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=103.2 /><TD width=444.133 /><TD width=107.333 /></TR>
<TR><TD style="margin-top:0px" valign=top width=103.2><P style="margin:0px" align=center><B>SEC Ref. No.</B></P>
</TD><TD style="margin-top:0px" valign=top width=444.133><P style="margin:0px"><B>Title of Document</B></P>
</TD><TD style="margin-top:0px" valign=top width=107.333><P style="margin:0px" align=center><B>Location</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=444.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=107.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=103.2><P style="margin:0px" align=center>31</P>
</TD><TD style="margin-top:0px" valign=top width=444.133><P style="margin:0px">Certification of the Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</P>
</TD><TD style="margin-top:0px" valign=top width=107.333><P style="margin:0px" align=center>Attached</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=103.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=444.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=107.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=103.2><P style="margin:0px" align=center>32</P>
</TD><TD style="margin-top:0px" valign=top width=444.133><P style="margin:0px">Certification of Principal Executive Officer and Principal Financial Officer pursuant to section 906 of the Sarbanes-Oxley Act of 2002</P>
</TD><TD style="margin-top:0px" valign=top width=107.333><P style="margin:0px" align=center>Attached</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>SIGNATURES</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this 10-Q report to be signed on its behalf by the undersigned thereunto duly authorized.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:336px"><B>FRAMEWAVES, INC.</B></P>
<P style="margin:0px; text-indent:336px">(Registrant)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:336px; float:left">Date: August 6, 2010</P>
<P style="margin:0px; text-indent:-2px"><I><U>/s/ John Furlong &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>
<P style="margin:0px; text-indent:336px; clear:left">John Furlong, President, Treasurer and &nbsp;</P>
<P style="margin:0px; text-indent:336px">Principal Executive Officer and</P>
<P style="margin:0px; text-indent:336px">Principal Financial Officer</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center>14</P>
<P style="margin:0px"><BR></P>
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<DOCUMENT>
<TYPE>EX-31
<SEQUENCE>2
<FILENAME>frame10q063010ex311.htm
<DESCRIPTION>EX-31.1 SECTION 302 CERTIFICATION
<TEXT>
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<TITLE>Exhibit 31.1</TITLE>
<META NAME="author" CONTENT="Owner">
<META NAME="date" CONTENT="08/02/2010">
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<DIV style="width:720px"><P style="margin:0px"><B>Exhibit 31</B></P>
<P style="margin:0px" align=center><B>CERTIFICATION </B></P>
<P style="line-height:12pt; margin-top:0px; margin-bottom:13.333px" align=justify><BR></P>
<P style="line-height:13pt; margin:0px">I, John Furlong, certify that:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>1. &nbsp;&nbsp;I have reviewed this quarterly report on Form 10-Q, of Framewaves, Inc. for the fiscal quarter ended June 30, 2010;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>2. &nbsp;&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>3. &nbsp;&nbsp;Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report; </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>4. &nbsp;&nbsp;The small business issuer&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the small business issuer and have:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>5. &nbsp;&nbsp;The small business issuer&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer&#146;s auditors and the audit committee of the small business issuer&#146;s board of directors (or persons performing the equivalent functions):</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the small business issuer&#146;s ability to record, process, summarize and report financial information; and</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer&#146;s internal control over financial reporting.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px">Date: August 6, 2010</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:336.6px" align=justify><I><U>/s/ John Furlong &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>
<P style="margin:0px; padding-left:336.6px" align=justify>John Furlong</P>
<P style="margin:0px; padding-left:336.6px" align=justify>President, Chief Executive Officer </P>
<P style="margin:0px; padding-left:336.6px">(Principal Executive Officer)</P>
<P style="margin:0px; padding-left:336.6px">Chief Financial Officer</P>
<P style="margin:0px; padding-left:336.6px">(Principal Financial Officer)</P>
<P style="margin:0px"><BR>
<BR></P>
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<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>3
<FILENAME>frame10q063010ex321.htm
<DESCRIPTION>EX-32.1 SECTION 906 CERTIFICATION
<TEXT>
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<TITLE>Exhibit 32.1</TITLE>
<META NAME="author" CONTENT="User">
<META NAME="date" CONTENT="08/02/2010">
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<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:576px"><P style="margin:0px" align=justify>Exhibit 32</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><B>CERTIFICATION OF PERIODIC REPORT</B></P>
<P style="margin:0px" align=center><B>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; text-indent:24px" align=justify>I, John Furlong, President, Treasurer, Chief Executive Officer and Chief Financial Officer of Framewaves, Inc., (the &#147;Company&#148;), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that to the best of my knowledge:</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; float:left">(1)</P>
<P style="margin:0px; padding-left:72px; text-indent:-2px" align=justify>the Quarterly Report on Form 10-Q of the Company for the fiscal quarter ended June 30, 2010 (the &#147;Report&#148;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78 o(d)); and</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:72px; float:left">(2)</P>
<P style="margin:0px; padding-left:72px; text-indent:-2px" align=justify>the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify>Date: &nbsp;August 6, 2010</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; padding-left:336.6px" align=justify><I><U>/s/ John Furlong &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>
<P style="margin:0px; padding-left:336px" align=justify>President and Chief Executive Officer </P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:336px; width:576px; float:left">Treasurer and Chief Financial Officer</P>
<P style="margin:0px; text-indent:-2px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px" align=justify>A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act has been furnished to Framewaves, Inc. and will be retained by Framewaves Inc. and furnished to the Securities and Exchange Commission or its staff upon request. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
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