UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

______________
FORM 10-Q

(Mark One)______________

x[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended September 30, 2009quarter ended March 31, 2010

¨[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the transition period from to                           ____________ to____________

Commission File NumberNumber: 000-53373

RxBids
(Exact name of registrantissuer as specified in its charter)

Nevada20-1226081
(State or other jurisdictionOther Jurisdiction of(I.R.S. Employer Identification No.)
incorporation or organization) 

9050 W. Warm Springs Rd #12-2129
Las Vegas, Nevada 89148
(Address of principal executive offices)

(702) 540-2222
(Registrant's telephone number, including area code)

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 past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes  x[X]   No  ¨[  ]

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 (§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).
Yes  ¨.Yes  [  ]    No  ¨[   ]

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

Large accelerated filer ¨
[  ]Accelerated filer [  ]¨
Non-accelerated filer ¨
[  ]Smaller reporting company x[X]
(Do not check if a smaller reporting company)

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

1



APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date.

ClassOutstanding as of November 11, 2008
May 6, 2010
Common Stock, $.01 par value5,274,400


2

TABLE OF CONTENTS

HeadingPage

PART  I    —   FINANCIAL INFORMATION

Item 1.Financial Statements 3
4
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations11
10
Item 3.Quantitative and Qualitative Disclosures About Market Risk13
11
Item 4(T).Controls and Procedures1311

PART  II    —   OTHER INFORMATION

Item 1.Legal Proceedings14
12
Item 1A.Risk Factors14
12
Item 22.Unregistered Sales of Equity Securities and Use of Proceeds14
12
Item 3.Defaults Upon Senior Securities14
12
Item 4.Submission of Matters to a Vote of Securities Holders14
12
Item 5.Other Information14
12
Item 6.Exhibits14
12
 Signatures1513



23

PART  I   —   FINANCIAL INFORMATION

Item 1.  Financial Statements

The accompanying unaudited balance sheet of RxBids at September 30, 2009March 31, 2010 and related unaudited statements of operations, stockholders' equity (deficit) and cash flows for the three and nine months ended September 30,March 31, 2010 and 2009 and 2008 and the period from June 18, 2004 (date of inception) through September 30, 2009,March 31, 2010, have been prepared by management in conformity with United States generally accepted accounting principles.  In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.  It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the RxBids December 31, 20082009 audited financial statements.  Operating results for the period ended September 30, 2009,March 31, 2010, are not necessarily indicative of the results that can be expected for the fiscal year ending December 31, 20092010 or any other subsequent period.


 
34
 

RxBIDS
(A Development Stage Company)

FINANCIAL STATEMENTS

September 30, 2009 and December 31, 2008

RXBIDSRxBids
(A Development Stage Company)
Balance Sheets


ASSETS      
 September 30,  December 31,  March 31,  December 31, 
 2009  2008  2010  2009 
 (Unaudited)          
ASSETS      
            
CURRENT ASSETS            
            
Cash and cash equivalents $785  $678  $1,999  $954 
                
Total Current Assets  785   678   1,999   954 
                
EQUIPMENT, NET  -   88   -   - 
                
TOTAL ASSETS $785  $766  $1,999  $954 
        
                
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                
                
CURRENT LIABILITIES                
                
Accounts payable and accrued expenses $29,283  $26,301  $31,545  $32,757 
Payable - related party  64,116   40,532   78,300   69,600 
                
Total Current Liabilities  93,399   66,833   109,845   102,357 
                
STOCKHOLDERS' EQUITY (DEFICIT)                
                
Common stock; 20,000,000 shares authorized at $0.01 par value, 5,274,400 shares issued and outstanding  52,744   52,744 
Common stock; 20,000,000 shares        
authorized at $0.01 par value, 5,274,400        
shares issued and outstanding  52,744   52,744 
Additional paid-in capital 502,488  502,488   502,488   502,488 
Deficit accumulated during the development stage  (647,846)  (621,299)  (663,078)  (656,635)
                
Total Stockholders' Equity (Deficit)  (92,614)  (66,067)  (107,846)  (101,403)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $785  $766 
TOTAL LIABILITIES AND        
STOCKHOLDERS' EQUITY (DEFICIT) $1,999  $954 


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

 
45
 

RXBIDS
RxBids
(A Development Stage Company)
Statements of Operations
(Unaudited)

              From Inception on 
              June 18, 
  For the Three Months Ended  For the Nine Months Ended  2004 Through 
  September 30,  September 30,  September 30, 
  2009  2008  2009  2008  2009 
                
REVENUES $272  $105  $272  $352  $1,036 
COST OF SALES  -   -       -   - 
GROSS MARGIN  272   105   272   352   1,036 
                     
OPERATING EXPENSES                    
                     
Depreciation expense  -   55   88   165   1,100 
Sales and marketing  2,172   3,500   6,068   8,600   43,250 
Research and development  -   4,579   -   35,579   155,325 
Consulting fees  2,463       14,454   50,000   143,954 
General and administrative  1,361   25,751   5,253   106,938   303,442 
                     
Total Operating Expenses  5,996   33,885   25,863   201,282   647,071 
                     
INCOME FROM OPERATIONS  (5,724)  (33,780)  (25,591)  (200,930)  (646,035)
                     
OTHER INCOME (EXPENSE)                    
                     
Interest Income (Expense)  (580)  -   (956)  -   (1,811)
                     
Total Other Income (Expense)  (580)  -   (956)  -   (1,811)
                     
LOSS BEFORE INCOME TAXES  (6,304)  (33,780)  (26,547)  (200,930)  (647,846)
                     
INCOME TAX EXPENSE  -   -   -   -   - 
                     
NET LOSS $(6,304) $(33,780) $(26,547) $(200,930) $(647,846)
                     
BASIC LOSS PER SHARE $(0.00) $(0.01) $(0.01) $(0.04)    
                     
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING  5,274,400   5,274,400   5,274,400   5,034,400     

The accompanying notes are an integral part of these financial statements

5

RXBIDS
(A Development Stage Company)
Statements of Stockholders' Equity (Deficit)

              Deficit    
              Accumulated    
        Additional  Stock  During the  Total 
  Common Stock  Paid-In  Subscriptions  Development  Stockholders' 
  Shares  Amount  Capital  Receivable  Stage  Deficit 
                   
Balance, June 18, 2004  -  $-  $-  $-  $-  $- 
                         
Net loss from inception through December 31, 2004  -   -   -   -   (61,907)  (61,907)
                         
Balance, December 31, 2004  -   -   -   -   (61,907)  (61,907)
                         
Net loss for the year ended December 31, 2005  -   -   -   -   (28,321)  (28,321)
                         
Balance, December 31, 2005  -   -   -   -   (90,228)  (90,228)
                         
Issuance of common stock for cash and debt at $0.07 per share  4,480,000   44,800   311,832   (24,000)  -   332,632 
                         
Net loss for the year ended December 31, 2006  -   -   -   -   (52,007)  (52,007)
                         
Balance, December 31, 2006  4,480,000   44,800   311,832   (24,000)  (142,235)  190,397 
                         
Cash received for stock subscriptions receivable  -   -   -   24,000   -   24,000 
                         
Issuance of common stock for cash at $0.25 per share  414,400   4,144   99,456   -   -   103,600 
                         
Net loss for the year ended December 31, 2007  -   -   -   -   (238,813)  (238,813)
                         
Balance, December 31, 2007  4,894,400   48,944   411,288   -   (381,048)  79,184 
                         
Issuance of common stock for cash at $0.25 per share  180,000   1,800   43,200   -   -   45,000 
                         
Issuance of common stock for services at $0.25 per share  200,000   2,000   48,000   -   -   50,000 
                         
Net loss for the year ended December 31, 2008  -   -   -   -   (240,251)  (240,251)
                         
Balance, December 31, 2008  5,274,400   52,744   502,488   -   (621,299)  (66,067)
                         
Net loss for the nine months ended September 30, 2009 (unaudited)  -   -   -   -   (26,547)  (26,547)
                         
Balance September 30, 2009 (unaudited)  5,274,400  $52,744  $502,488  $-  $(647,846) $(92,614)
        From Inception on 
        June 18, 
  For the Three Months Ended  2004 Through 
  March 31,  March 31, 
  2010  2009  2010 
          
          
REVENUES $399  $-  $1,778 
COST OF SALES  -   -   - 
GROSS MARGIN  399   -   1,778 
             
OPERATING EXPENSES            
             
Depreciation expense  -   55   1,100 
Sales and marketing  994   2,172   45,854 
Research and development  -   -   155,325 
Professional fees  4,425   3,234   152,609 
General and administrative  690   2,475   306,842 
             
Total Operating Expenses  6,109   7,936   661,730 
             
LOSS FROM OPERATIONS  (5,710)  (7,936)  (659,952)
             
OTHER INCOME (EXPENSE)            
             
Interest Income (Expense)  (733)  -   (3,126)
             
Total Other Income            
(Expense)  (733)  -   (3,126)
             
LOSS BEFORE INCOME TAXES  (6,443)  (7,936)  (663,078)
             
INCOME TAX EXPENSE  -   -   - 
             
NET LOSS $(6,443) $(7,936) $(663,078)
BASIC AND DILUTED            
LOSS PER SHARE $(0.00) $(0.00)    
             
WEIGHTED AVERAGE NUMBER            
OF SHARES OUTSTANDING  5,274,400   5,274,400     

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

 
6
 

RXBIDSRxBids
(A Development Stage Company)
Statements of Cash Flows
(Unaudited)

        From Inception on 
        June 18, 2004 
  For the Three Months Ended  Through 
  March 31,  March 31, 
  2010  2009  2010 
          
OPERATING ACTIVITIES         
          
Net loss $(6,443) $(7,936) $(663,078)
Adjustments to reconcile net loss to net cash used by operating activities:            
Common stock issued for services  -   -   50,000 
Depreciation and amortization  -   55   1,100 
Changes in operating assets and liabilities:            
Change in accounts payable  (1,212)  (2,649)  31,545 
             
Net Cash Used in            
  Operating Activities  (7,655)  (10,530)  (580,433)
             
INVESTING ACTIVITIES            
             
Purchase of property and equipment  -   -   (1,100)
             
Net Cash Used in Investing Activities  -    -    (1,100 )
             
FINANCING ACTIVITIES            
             
Proceeds from related party loans and advances  8,700   10,537   410,932 
Proceeds from common stock issued  -   -   172,600 
             
  Net Cash Provided by Financing Activities  8,700   10,537   583,532 
             
NET DECREASE IN CASH  1,045   7   1,999 
             
CASH AT BEGINNING OF PERIOD  954   678   - 
             
CASH AT END OF PERIOD $1,999  $685  $1,999 
             
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION            
             
CASH PAID FOR:            
             
Interest $-  $-  $- 
Income Taxes $-  $-  $- 
             
NON-CASH FINANCING ACTIVITIES:            
Common stock issued for services $-  $50,000  $50,000 
Common stock issued for debt $-  $-  $332,632 
        From Inception on 
        June 18, 2004 
  For the Nine Months Ended  Through 
  September 30,  September 30, 
  2009  2008  2009 
          
OPERATING ACTIVITIES         
          
Net loss $(26,547) $(200,930) $(647,846)
Adjustments to reconcile net loss to net cash used by operating activities:            
Common stock issued for services  -   50,000   50,000 
Depreciation and amortization  88   165   1,100 
Changes in operating assets and liabilities:            
Change in accounts receivable  -   133   - 
Change in accounts payable  2,982   26,662   29,283 
             
Net Cash Used in Operating Activities  (23,477)  (123,970)  (567,463)
             
INVESTING ACTIVITIES            
             
Purchase of property and equipment  -   -   (1,100)
             
Net Cash Used in Investing Activities  -   -   (1,100)
             
FINANCING ACTIVITIES            
             
Proceeds from related party loans  23,584   -   396,748 
Proceeds from common stock issued  -   45,000   172,600 
             
Net Cash Provided by Financing Activities  23,584   45,000   569,348 
             
NET DECREASE IN CASH  107   (78,970)  785 
             
CASH AT BEGINNING OF PERIOD  678   82,977   - 
             
CASH AT END OF PERIOD $785  $4,007  $785 
             
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION            
             
CASH PAID FOR:            
             
Interest $-  $-  $- 
Income Taxes $-  $-  $- 
             
NON-CASH FINANCING ACTIVITIES:            
Common stock issued for services $-  $50,000  $50,000 
Common stock issued for debt $-  $-  $332,632 

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

7
 


RXBIDSRxBids
(A Development Stage Company)
Notes to Financial Statements
September 30, 2009 and December 31, 2008(Unaudited)

NOTE 1 - CONDENSED FINANCIAL STATEMENTSSUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying financial statements have been prepared by the Company without audit.  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 September 30, 2009,March 31, 2010, and for all periods presented herein, have been made.

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.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2008September 30, 2009 audited financial statements.  The results of operations for the period ended September 30, 2009March 31, 2010 is not necessarily indicative of the operating results for the full years.year.

NOTE 2 - GOING CONCERN

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

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

8

RXBIDS
(A Development Stage Company)
Notes to Financial Statements
September 30, 2009 and December 31, 2008

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Recently AdoptedRecent Accounting Pronouncements

Effective June 30, 2009, the Company adopted a new accounting standard issued by the FASB related to the disclosure requirements of the fair value of the financial instruments. This standard expands the disclosure requirements of fair value (including the methods and significant assumptions used to estimate fair value) of certain financial instruments to interim period financial statements that were previously only required to be disclosed in financial statements for annual periods. In accordance with this standard, the disclosure requirements have been applied on a prospective basis and did not have a material impact on the Company’s financial statements.

On September 30, 2009, the Company adopted changes issued by the Financial Accounting Standards Board (FASB) to the authoritative hierarchy of GAAP.  These changes establish the FASB Accounting Standards Codification (Codification) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP.  Rules and interpretive releases of the Securities and Exchange Commission (SEC) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants.  The FASB will no longer issue new standards in the form of Statements, FASB Staff Positions, or Emerging Issues Task Force Abstracts; instead the FASB will issue Accounting Standards Updates.  Accounting Standards Updates will not be authoritative in their own right as they will only serve to update the Codification.  These changes and the Codification itself do not change GAAP.  Other than the manner in which new accounting guidance is referenced, the adoption of these changes had no impact on the Financial Statements.

Recently Issued Accounting Standards

In August 2009,January 2010, the FASB issued anAccounting Standards Update 2010-02, Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary. This amendment to the accounting standards related to the measurement of liabilities that are recognized or disclosed at fair value on a recurring basis. This standardTopic 810 clarifies, how a company should measure the fair value of liabilities and that restrictions preventing the transfer of a liability shouldbut does not be considered as a factor in the measurement of liabilities withinchange, the scope of this standard. This standard iscurrent US GAAP. It clarifies the decrease in ownership provisions of Subtopic 810-10 and removes the potential conflict between guidance in that Subtopic and asset de-recognition and gain or loss recognition guidance that may exist in other US GAAP. An entity will be required to follow the amended guidance beginning in the period that it first adopts FAS 160 (now included in Subtopic 810-10). For those entities that have
8
already adopted FAS 160, the amendments are effective forat the Companybeginning of the first interim or annual reporting period ending on October 1,or after December 15, 2009. The amendments should be applied retrospectively to the first period that an entity adopted FAS 160. The Company does not expect the impactprovisions of its adoptionASU 2010-02 to behave a material to itseffect on the financial statements.position, results of operations or cash flows of the Company.

In October 2009,January 2010, the FASB issued anAccounting Standards Update 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force). This amendment to Topic 505 clarifies the accounting standards relatedstock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the accountingamount of cash that will be distributed is not a stock dividend for revenue in arrangements with multiple deliverables including howpurposes of applying Topics 505 and 260. Effective for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis. The Company does not expect the arrangement consideration is allocated among delivered and undelivered itemsprovisions of ASU 2010-01 to have a material effect on the financial position, results of operations or cash flows of the arrangement. Among the amendments, this standard eliminated the use of the residual method for allocating arrangement considerations and requires an entity to allocate the overall consideration to each deliverable based on an estimated selling price of each individual deliverable in the arrangement in the absence of having vendor-specific objective evidence or other third party evidence of fair value of the undelivered items. This standard also provides further guidance on how to determine a separate unit of accounting in a multiple-deliverable revenue arrangement and expands the disclosure requirements about the judgments made in applying the estimated selling price method and how those judgments affect the timing or amount of revenue recognition. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.

9

RXBIDS
(A Development Stage Company)
Notes to Financial Statements
September 30, 2009 and December 31, 2008

In October 2009, the FASB issued an amendment to the accounting standards related to certain revenue arrangements that include software elements. This standard clarifies the existing accounting guidance such that tangible products that contain both software and non-software components that function together to deliver the product’s essential functionality, shall be excluded from the scope of the software revenue recognition accounting standards. Accordingly, sales of these products may fall within the scope of other revenue recognition standards or may now be within the scope of this standard and may require an allocation of the arrangement consideration for each element of the arrangement. This standard, for which the Company is currently assessing the impact, will become effective for the Company on January 1, 2011.Company.

NOTE 4 –- RELATED PARTY PAYABLESTRANSACTIONS

AsFrom its inception through December 28, 2006, the Company received $332,632 in loans from shareholders.  On December 28, 2006, the Company issued 4,000,000 shares of September 30, 2009,its common stock in satisfaction of those loans.
Through the March 31, 2010 the Company has received cash advances from its principala shareholder and officer of $64,116.$78,300. The advances are unsecured, non interest bearing unsecured and due upon demand. Imputed interest was not considered to be material.
NOTE 5 – CAPITAL STOCK  
The Company has 20,000,000 common shares authorized at a par value of $0.01.  As of December 31, 2009 the Company has 5,274,400 shares of common stock issued and outstanding.  The following is a list of all sales of common the Company’s common stock from inception through the year ended December 31, 2009.

During 2006 the Company issued 4,480,000 shares of its common stock for cash at $0.05 per share. On January 18, 2007, the Company collected the $24,000 of stock subscriptions receivable.
During 2007, the Company issued 414,400 shares of common stock for cash of $103,600 at $0.25 per share.
During 2008, the Company issued 180,000 shares of common stock for cash of $45,000 and 200,000 shares for services valued at $50,000. The Company’s common stock was issued at $0.25 per share.

NOTE 56 – SUBSEQUENT EVENTEVENTS

There wereIn accordance with ASC 855-10 Company management reviewed all material events through the date of this report and there are no material subsequent events from the end of the quarter to November 13, 2009.report.


 
109
 


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

The following information should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this Form 10-Q.

Liquidity and Capital Resources

In December 2007, we realized gross proceeds of $103,600 from the public offering of our common stock.  We have used these proceeds to develop our website and to commence advertising to promote and market our medical prescription auction service.  At September 30, 2009,March 31, 2010, we had available cash of $785$1,999 compared to $678$954 at December 31, 2008.  Management believes2009.  We are currently being funded by loans from our President, Mack Bradley.  Mr. Bradley has indicated that he will avail his personal financial resources to the company on an as needed basis until such a time that we must securecan procure additional funds to adequately sustain operations during the remainder of fiscal 2009.  If during this period we have not begun to realize sufficient revenues to fund ongoing operations, we will have to consider new sources of financing.  We do notare currently have any arrangements or plans for futureexploring the possibility of additional alternative financing, andbut there is no assurance that we will be able to secure financing on favorable terms or at all.

At September 30, 2009,March 31, 2010, we had total current assets of $785$1,999 in cash and total current liabilities of $93,399,$109,854, consisting of accounts payable and accrued expenses of $29,283$31,545 and a payable to related party of $64,116.$78,300.  At December 31, 2008,2009, we had total current assets of $678$954 in cash and total current liabilities of $66,833,$102,357, consisting of accounts payable and accrued expenses of $26,301$32,757 and a payable to related party of $40,532.$69,600.  Working capital at September 30, 2009March 31, 2010 was a negative $92,614$107,846 compared to $66,155$101,403 at December 31, 2008.2009.  This decrease in working capital for the first ninethree months of 20092010 is primarily due to the 58%13% increase in the payable to related party, which represents additional borrowing during the period.  There was also an 11% increase in accounts payable and accrued expenses.  At September 30, 2009,March 31, 2010, we had total assets of $785$1,999 and a stockholders’ deficit of $92,614,$107,846, compared to total assets of $766$954 and a stockholders' deficit of $66,067$101,403 at December 31, 2008.2009.

Net cash used by operating activities was $23,477$7,655 for the first ninethree months of 20092010 compared to $123,970$10,530 for the comparable 20082009 period.  This result is primarily attributed to the decreased net loss from $200,939$7,936 for the 20082009 period, compared to $26,547$6,443 for the 20092010 period.  Also during the first ninethree months of 2009,2010, we realized $23,584$8,700 in proceeds from related party loans.loans compared to $10,537 for the 2009 period.

Results of Operations

We realized $272$399 in revenues for the three-month period (“thirdfirst quarter”) ended September 30, 2009March 31, 2010 compared to $0 revenues of $105 for the thirdfirst quarter of 2008.2009.  Total operating expenses for the thirdfirst quarter of 20092010 were $5,996, an 83%$6,109, a 23% decrease from $33,885$7,936 for the thirdfirst quarter of 2008.2009.  The decrease is primarily attributed to the 95%54% decrease in sales and marketing expenses from $2,172 in 2009 to $994 in 2010, due to decreased marketing efforts, and the 72% decrease in general and administrative expenses, from $25,751 in 2008 to $1,361$2,475 in 2009 to $690 in 2010, due to the elimination of websiteout sourcing server requirement and business development expenses.decreased staffing.  The decrease was also due to research and development expenses of $4,579 in the third quarter in 2008 compared to $0 in 2009, reflecting the decreased in research and development activity in 2009.  The decrease in expenses was partially offset by consultingthe 37% decrease in professional fees from $3,234 in 2009 to $4,425 in 2010 related to the expense of $2,463 for the third quarter of 2009 compared to $0 for the 2008 period.preparing and filing our requisite SEC reports.  Our net loss was $6,304 for the third quarter of 2009 compared to $33,780 for the third quarter of 2008.

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We realized $272 in revenues for the nine months ended September 30, 2009 compared to $352 for the 2008 period.  Total operating expenses$6,443 for the first nine monthsquarter of 2009 decreased 87%2010 compared to $25,863 from $201,282 for the comparable 2008 period, primarily attributed to the 95% decrease in general and administrative expenses, from $106,938 in 2008 to $5,253 in 2009, due to the elimination of website and business development expenses.  Contributing to the decrease was the decrease in research and development expenses from $35,579$7,936 for the first nine monthsquarter of 2008 to $0 in 2009, and the 71% decrease in consulting fees from $50,000 in the first nine months of 2008 to $14,454 for the 2009 period.  Our net loss was $26,547 for the first nine months of 2009 compared to $200,930 for the 2008 period.2009.

In the opinion of management, inflation has not and will not have a material effect on our operations in the immediate future.  Management will continue to monitor inflation and evaluate the possible future effects of inflation on our business and operations.

Net Operating Loss

The Company has accumulated approximately $621,299$603,604  of net operating loss carryforward at December 31, 2008.2009.  This loss carryforward may be offset against future taxable income through the year 2028.2029.  The use of these losses to reduce future income taxes will depend on the generation of sufficient taxable income prior to the expiration of the net operating loss carryforwards.  In the event of certain changes in control, there will be an annual limitation on the amount of net operating loss carryforwards that can be used.  No tax benefit has been reported in the financial statements for the year ended December 31, 20082009 or nine-monththree month period ended September 30, 2009March 31, 2010 because it has been fully offset by a valuation allowance.

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Inflation

In the opinion of management, inflation has not and will not have a material effect on our operations in the immediate future.  Management will continue to monitor inflation and evaluate the possible future effects of inflation on our business and operations.

Off-balance Sheet Arrangements

We have no off-balance sheet arrangements.

Forward-Looking and Cautionary Statements

This report includes "forward-looking statements" that may relate to such matters as anticipated financial performance, future revenues or earnings, business prospects, projected ventures, new products and services, anticipated market performance and similar matters.

When used in this report, the words "may," "will," expect," anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements regarding events, conditions, and financial trends that may affect our future plans of operations, business strategy, operating results, and financial position.

We caution readers that a variety of factors could cause our actual results to differ materially from the anticipated results or other matters expressed in forward-looking statements. These risks and uncertainties, many of which are beyond our control, include:
●      the sufficiency of existing capital resources and the ability to raise additional capital to fund cash requirements for future operations;

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●      the ability to successfully operate our website and generate a sufficient number of consumers and pharmacies to purchase their medications from RxBIDS.com and the ability to broaden our pharmaceutical network;

●      volatility of the stock market, particularly within the online medical prescription sector; and
●the sufficiency of existing capital resources and the ability to raise additional capital to fund cash requirements for future operations;
●the ability to successfully operate our website and generate a sufficient number of consumers and pharmacies to purchase their medications from RxBIDS.com and the ability to broaden our pharmaceutical network;
●volatility of the stock market, particularly within the online medical prescription sector; and
●general economic conditions.

●      general economic conditions.

Although we believe the expectations reflected in these forward-looking statements are reasonable, such expectations cannot guarantee future results, levels of activity, performance or achievements.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk.

This item is not required for a smaller reporting company.

Item 4(T).  Controls and Procedures.

Evaluation of Disclosure Controls and Procedures.  Disclosure controls and procedures (as defined in Rules  13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.  Disclosure and control procedures are also designed to ensure that such information is accumulated and communicated to management, including the chief executive officer and principal accounting officer, to allow timely decisions regarding required disclosures.

As of the end of the period covered by this quarterly report, we carried out an evaluation, under the supervision and with the participation of management, including our chief executive officer and principal accounting officer, of the effectiveness of the design and operation of our disclosure controls and procedures.  In designing and evaluating the disclosure controls and procedures, management recognizes that there are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures.  Accordingly, even effective disclosure controls and procedures can only

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provide reasonable assurance of achieving their desired control objectives.  Additionally, in evaluating and implementing possible controls and procedures, management is required to apply its reasonable judgment.  Based on the evaluation described above, our management, including our principal executive officer and principal accounting officer, have concluded that, as of September 30, 2009,March 31, 2010, our disclosure controls and procedures were effective.

not effective due to a lack of adequate segregation of duties and the absence of an audit committee.
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Changes in Internal Control Over Financial Reporting.  Management has evaluated whether any change in our internal control over financial reporting occurred during the thirdfirst quarter of fiscal 2009.2010. Based on its evaluation, management, including the chief executive officer and principal accounting officer, has concluded that there has been no change in our internal control over financial reporting during the thirdfirst quarter of fiscal 20092010 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART  II   —   OTHER INFORMATION

Item 1.  Legal Proceedings

There are no material pending legal proceedings to which we are a party or to which any of our property is subject and, to the best of our knowledge, no such actions against us are contemplated or threatened.

Item 1A.  Risk Factors

This item is not required for a smaller reporting company.

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

This Item is not applicable.

Item 3.  Defaults Upon Senior Securities

This Item is not applicable.

Item 4.  Submission of Matters to a Vote of Security Holders

This Item is not applicable.

Item 5.  Other Information

This Item is not applicable.

Item 6.  Exhibits

Exhibit 31.1Certification of C.E.O.
Exhibit 31.1  Certification of CEO and Principal Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.1Certification of C.E.O. and Principal Accounting Officer Pursuant to 18 U.S.C.Exhibit 32.1  Certification of CEO and Principal Accounting Officer Pursuant to 18 USC Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 
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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

RxBids

Date:05/13/10 RxBids
By:
Date:  November 16, 2009By: 
/S/ Mack Bradley
s/Mack Bradley
  President, C.E.O.Mack Bradley, CEO and Director
  (Acting Principal Accounting Officer)


 
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