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

FORM 10-K

(Mark One)

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

For the fiscal year ended July 31, 2009

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

For the transition period from ______________ to________________

Commission file number 333-151212

QUUIBUS TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)

Nevada 45-0560329
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

114 West Magnolia St., #400-136, Bellingham, WA 98225
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (702) 990-8402

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

None N/A
Title of each class Name of each exchange on which registered

Securities registered under Section 12(g) of the Act:

Common Stock, $0.001 par value
(Title of class)

Indicate by checkmark if the registrant is a well-known seasoned issuer, as
defined in Rule 405 of the Securities Act. Yes [ ] No [X]

Indicate by checkmark if the registrant is not required to file reports pursuant
to Section 13 or 15(d) of the Act. Yes [ ] No [X]

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

Indicate by checkmark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K (ss. 229.405 of this chapter) is not contained herein, and will
not be contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. [ ]

Indicate by checkmark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] Smaller reporting company [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 Act). Yes [X] No [ ]

The aggregate market value of voting and non-voting common equity held by
non-affiliates as of November 4, 2009 was approximately $46,500 based upon
925,000 shares held by non-affiliates and a closing market price of $0.05 per
share on January 31, 2009.

As of November 4, 2009, there were 2,525,000 shares of common stock issued and
outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Exhibits incorporated by reference are referred to in Part IV.

AVAILABLE INFORMATION

Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports
on Form 8-K and all amendments to those reports that we file with the Securities
and Exchange Commission, or SEC, are available at the SEC's public reference
room at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain
information on the operation of the public reference room by calling the SEC at
1-800-SEC-0330. The SEC also maintains a website at www.sec.gov that contains
reports, proxy and information statements and other information regarding
reporting companies.

TABLE OF CONTENTS

Page
----
PART I
ITEM 1. Business 4

ITEM 1A Risk Factors 7

ITEM 2. Properties 11

ITEM 3. Legal Proceedings 11

ITEM 4. Submission of Matters to a Vote of Security Holders 11

PART II
ITEM 5. Market for the Registrant's Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities 11

ITEM 6. Selected Financial Data 12

ITEM 7. Management's Discussion and Analysis of Financial Condition
and Results of Operations 12

ITEM 8. Financial Statements and Supplementary Data 17

ITEM 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure 31

ITEM 9A(T). Controls and Procedures 31

ITEM 9B. Other Information 32

PART III
ITEM 10. Directors, Executive Officers and Corporate Governance 33

ITEM 11. Executive Compensation 34

ITEM 12. Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters 36

ITEM 13. Certain Relationships and Related Transactions, and Director
Independence 37

ITEM 14. Principal Accountant Fees and Services 37

ITEM 15. Exhibits Financial Statement Schedules 38

Signatures 39

PART I

FORWARD LOOKING STATEMENTS.

This annual report contains forward-looking statements. These statements relate
to future events or our future financial performance. In some cases, you can
identify forward-looking statements by terminology such as "may," "should,"
"expects," "plans," "anticipates," "believes," "estimates," "predicts,"
"potential," or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown
risks, uncertainties and other factors, including the risks in the section
entitled "Risk Factors" and the risks set out below, any of which may cause our
or our industry's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements. These risks include, by way of example and not in
limitation:

* the uncertainty that we will not be able to successfully identify and
evaluate a suitable business opportunity;
* risks related to the large number of established and well-financed
entities that are actively seeking suitable business opportunities;
* risks related to the failure to successfully manage or achieve growth
of a new business opportunity; and
* other risks and uncertainties related to our business strategy.

This list is not an exhaustive list of the factors that may affect any of our
forward-looking statements. These and other factors should be considered
carefully and readers should not place undue reliance on our forward-looking
statements.

Forward looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and we undertake no obligation to
update forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements. Except as
required by applicable law, including the securities laws of the United States,
we do not intend to update any of the forward-looking statements to conform
these statements to actual results.

The safe harbors of forward-looking statements provided by Section 21E of the
Exchange Act are unavailable to issuers of penny stock. As we issued securities
at a price below $5.00 per share, our shares are considered penny stock and such
safe harbors set forth under the Private Securities Litigation Reform Act of
1995 are unavailable to us.

Our financial statements are stated in United States dollars and are prepared in
accordance with United States generally accepted accounting principles.

In this annual report, unless otherwise specified, all dollar amounts are
expressed in United States dollars and all references to "common stock" refer to
the common shares in our capital stock.

As used in this annual report, the terms "we," "us," "our" and "Quuibus" mean
Quuibus Technology, Inc., unless otherwise indicated.

ITEM 1. BUSINESS

OVERVIEW OF THE COMPANY

We are a development stage company that was incorporated on March 28, 2007. We
have commenced only limited operations, primarily focused on organizational
matters. We have not generated any revenues to date and we do not expect to
generate revenues during the next 12 months of our operations. Our Directors
have reserved a domain name for us and have also acquired web and email hosting.
We have not commenced operations other than in connection with certain
preliminary surveys conducted by our officers. We have completed our corporate
website. We do not currently have sufficient capital to operate our business and
we hope to raise additional financing to continue with our business development
plans. There is no assurance that we will have revenue in the future or that we
will be able to secure the necessary funding to develop our business.

We are focused on developing and offering a server-based software product for
the creation of wireless communities. We intend to enable service providers,
organizations, and individuals to deploy wireless networks and to sell
subscriptions to access such networks to end-users. It is our goal to provide
end-users with the ability to roam across Quuibus-powered wireless networks.

After development of our authentication and billing software product, we plan to
commence marketing of our wireless networking service on a subscription basis.

We have made a survey of available wireless authentication solutions on the
market and have narrowed our search to two solutions. In our preliminary
evaluation of the two products, we have determined that they will be able to
meet, with customization, most of our needs. These products are FreeRadius and
Linux LiveCD HotSpot Server. Customization of such software solutions to meet
our needs will require us to invest eight to nine months of development efforts.

In addition, we have identified several contractors that we believe are suitable
to perform the software customization. As a result of this process, we have
budgeted $1,000 monthly to complete the project, but we have not yet entered
into any contracts for these services. We have evaluated potential candidates on
the basis of skill, software development track record, references and price.

Our software product will be composed of two elements, a server-based software
product that authorizes subscribers to access the internet and that performs
automated billing, and a client-based software product that resides at a
wireless access point to police (enable or deny) access based on instructions
from the server.

The company has not been able to implement its business plan due to a lack of
funding. Our Directors are evaluating whether our business plan is still
feasible, and they intend to continue to try to develop the business.

Our offices are currently located at West Magnolia St., #400-136, Bellingham,
WA, 98225. Our telephone number is (360) 392-2830. Our website is
www.quuibus.com.

BUSINESS DEVELOPMENT

As of February 18, 2008, we raised $46,500 in gross proceeds from the sale of
925,000 shares of our common stock. We used these proceeds to fund our
operations during our last fiscal year.

PRINCIPAL PRODUCT AND SERVICE AND THEIR MARKET

The market for wireless networking services is expanding at a rapid rate. This
is driven primarily by the need for mobility and freedom from landline
connections. This does not mean that landline broadband internet is in retreat.
Indeed, landline broadband internet is also increasing at a rapid rate and is
also driving the adoption of wireless internet connectivity. As people's lives
become more internet-centric, the number of broadband connections has been
expanding.

OUR SOFTWARE PRODUCT AND SERVICE MODEL

Our software product will be composed of two elements: a server based software
that authorizes subscribers to access the internet, and software that resides at
a wireless access point to police (enable or deny) access based on instructions
from the server. We will deploy a server side server in order to perform
authentication and billing. Billing will be done exclusively through Paypal. In
addition, we will use Paypal to compensate partners and resellers. Our billing
and payment system will be completely automated which will keep operational
costs to a minimum.

We intend to offer yearly, monthly and daily plans. The price of each of these
plans will vary between countries since there are variations in the cost of
delivering the service between countries as well as different income levels and
differences regarding the availability of competition. Our subscribers will be
able to roam (I.E., connect to the internet) across our network.

PRODUCT DEVELOPMENT

The server side software will be a customized radius server integrated with a
billing engine. Commercial radius servers are available from several vendors
such as Microsoft (http://www.microsoft.com) and Aradial Technologies
(http://www.aradial.com/). Mature open source products such as OpenRadius
(http://www.xs4all.nl/~evbergen/openradius/) and FreeRadius
(http://www.freeradius.org/) are also available. Some of the radius servers
already have support for WiFi clients and some are integrated with billing
systems and others are stand-alone.

We have performed a preliminary evaluation of two products, and we have found
that with some customization they will meet most of our needs. These are
FreeRadius and Linux LiveCD HotSpot Server. We will require investing nine
months of development efforts in order to customize one of these software
products to meet our needs. The software will be customized to integrate payment
systems and support resellers. We will only accept Paypal as a method of
payment. Paypal will be used to collect money from subscribers and to pay
resellers. This will simplify our backend operation as well as our development
effort.

Our server software will be designed to support any standard-compliant radius
client. Several vendors (for example: Nomadix) sell wireless devices with radius
support. Newer wireless devices also support Radius WPA which allows the radius
server to permit or deny access to a user.

We expect that a beta version of our server side application will be completed
six months after receiving additional financing to enable us to commence
development, and a deployable version will be available in nine months.

MARKETING & SALES STRATEGY

Our marketing efforts will be directed toward executing a strategy of building a
network of partners around the world that will drive the adoption of our
wireless network. We intend to develop alliances with strong partners in order
to maximize market penetration and market share. We expect that this strategy
will build revenues, establish our brand, and establish lasting channel
partnerships, hopefully creating a barrier to entry for other competitors.

SOURCES AND AVAILABILITY OF PRODUCTS AND SUPPLIES

There are no constraints on the sources or availability of products and supplies
related to our business. We will be producing our own product, and the
distribution of our products and services will be over the internet.

DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS

The nature of our service offering does not mandate any dependence on one or a
few major customers; however, if we obtain one or more large corporate accounts,
then we may end up being dependent on one or a few major customers.

PATENT, TRADEMARK, LICENSE & FRANCHISE RESTRICTIONS AND CONTRACTUAL OBLIGATIONS
& CONCESSIONS

We have not entered into any franchise agreements or other contracts that have
given, or could give rise to obligations or concessions. We plan to develop a
software product and intend to protect our software product with copyright and
trade secrecy laws. Beyond our trade name and our proposed software product, we
do not hold any intellectual property.

EXISTING OR PROBABLE GOVERNMENT REGULATIONS

There are no existing government regulations, nor are we aware of any
regulations being contemplated that would adversely affect our ability to
operate.

Due to the increasing popularity and use of the internet, it is possible that a
number of laws and regulations may be adopted with respect to the internet
generally, covering issues such as user privacy, pricing, and characteristics
and quality of products and services. Similarly, the growth and development of
the market for internet commerce may prompt calls for more stringent consumer
protection laws that may impose additional burdens on those companies conducting
business over the Internet. The adoption of any such laws or regulations may
decrease the growth of commerce over the Internet, increase our cost of doing
business, or otherwise have a harmful effect on our business.

To date, governmental regulations have not materially restricted the use or
expansion of the internet. However, the legal and regulatory environment that
pertains to the Internet is uncertain and may change. New laws may cover issues
that include:

* Sales and other taxes;
* User privacy;
* Pricing controls;
* Characteristics and quality of products and services;
* Consumer protection;
* Libel and defamation;
* Copyright, trademark and patent infringement; and/or
* Other claims based on the nature and content of internet materials.

These new laws may have an impact on our ability to market our products and
services in accordance with our business plan.

RESEARCH AND DEVELOPMENT ACTIVITIES AND COSTS

We have incurred costs to date and, subject to obtaining financing, have plans
to undertake additional research and development activities during the next 12
months. For a detailed description of our plans see "Plan of Operation" in Item
7 below.

EMPLOYEES

As of October 26, 2009, we have no employees as we have been unable to secure
sufficient financing to hire full time or part time staff. Our officers and
Directors provide services to us on an as-needed basis.

ITEM 1A. RISK FACTORS

Much of the information included in this annual report includes or is based upon
estimates, projections or other "forward looking statements". Such "forward
looking statements" involve various risks and uncertainties as outlined below.
We caution the reader that important factors in some cases have affected, and in
the future could materially affect, actual results and cause actual results to
differ materially from the results expressed in any such estimates, projections
or other "forward looking statements".

1. WE HAVE A GOING CONCERN OPINION FROM OUR AUDITORS, INDICATING THE POSSIBILITY
THAT WE MAY NOT BE ABLE TO CONTINUE TO OPERATE.

The Company has incurred net losses of $(62,292) for the period from March 28,
2007 (inception) through July 31, 2009. We anticipate generating losses for the
next 12 months. Therefore, we may be unable to continue operations in the future
as a going concern. No adjustment has been made in the accompanying financial
statements to the amounts and classification of assets and liabilities which
could result should we be unable to continue as a going concern. If we cannot
continue as a viable entity, our stockholders may lose some or all of their
investment in the Company.

In addition, our independent auditors included an explanatory paragraph in their
report on the accompanying financial statements regarding concerns about our
ability to continue as a going concern.

As a result, we may not be able to obtain additional necessary funding. There
can be no assurance that we will ever achieve any revenues or profitability. The
revenue and income potential of our proposed business and operations are
unproven, and the lack of operating history makes it difficult to evaluate the
future prospects of our business.

2. WE ARE A DEVELOPMENT STAGE COMPANY AND MAY NEVER BE ABLE TO EXECUTE OUR
BUSINESS PLAN.

We were incorporated on March 28, 2007. We currently have no products,
customers, or revenues. Although we have begun initial planning for the
development of our software product and the related wireless network service, we
may not be able to execute our business plan.

3. OUR BUSINESS PLAN MAY BE UNSUCCESSFUL.

The success of our business plan is dependent on our developing our server-based
software product that will perform authentication and billing, and our marketing
our wireless network service to end-users. Our ability to develop this product
is unproven, and the lack of operating history makes it difficult to validate
our business plan. In addition, the success of our business plan is dependent
upon the market acceptance of our single service plan. Should this service be
too narrowly focused or should the target market not be as responsive as we
anticipate, we will not have in place alternate services or products that we can
offer to ensure our continuing as a going concern.

4. WE HAVE NO OPERATING HISTORY AND HAVE MAINTAINED LOSSES SINCE INCEPTION,
WHICH WE EXPECT TO CONTINUE IN THE FUTURE.

We also expect to continue to incur operating losses in future periods. These
losses will occur because we do not yet have any revenues to offset the expenses
associated with the development of our software product and the marketing and
sale of our wireless network service. We cannot guarantee that we will ever be
successful in generating revenues in the future. We recognize that if we are
unable to generate revenues, we will not be able to earn profits or continue
operations.

There is no history upon which to base any assumption as to the likelihood that
we will prove successful, and we can provide investors with no assurance that we
will generate any operating revenues or ever achieve profitable operations. If
we are unsuccessful in addressing these risks, our business will most likely
fail.

5. OUR EXECUTIVE OFFICERS AND DIRECTORS HAVE SIGNIFICANT VOTING POWER AND MAY
TAKE ACTIONS THAT MAY BE DIFFERENT THAN ACTIONS SOUGHT BY OUR OTHER
STOCKHOLDERS.

Our officers and Directors will be able to exercise significant influence over
all matters requiring stockholders approval. This influence over our affairs
might be adverse to the interest of our other stockholders. In addition, this
concentration of ownership could delay or prevent a change in control and might
have an adverse effect on the market price of our common stock.

6. SINCE OUR OFFICERS AND DIRECTORS MAY WORK OR CONSULT FOR OTHER COMPANIES,
THEIR OTHER ACTIVITIES COULD SLOW DOWN OUR OPERATIONS.

Our officers and Directors are not required to work exclusively for us and do
not devote all of their time to our operations. Presently, our officers and
Directors allocate only a portion of their time to the operation our business.
Since our officers and Directors are currently employed full-time elsewhere,
they are able to commit to us only up to 10 hours a week. Therefore, it is
possible that their pursuit of other activities may slow our operations and
reduce our financial results because of the slow-down in operations.

7. OUR OFFICERS AND DIRECTORS ARE LOCATED IN TURKEY AND THE UNITED ARAB
EMIRATES.

Since all of our officers and Directors are located in Turkey and the United
Arab Emirates, any attempts to enforce liabilities upon such individuals under
the U.S. securities and bankruptcy laws may be difficult.

8. WIRELESS INTERNET NETWORKING IS SUBJECT TO RAPID TECHNOLOGICAL CHANGE.

Our business is in an emerging market that is characterized by rapid changes in
customer requirements, frequent introductions of new and enhanced products and
services, and continuing and rapid technological advancement. To compete
successfully in this emerging market, we must continue to design, develop, and
sell new and enhanced products and services that provide increasingly higher
levels of performance and reliability at lower cost. These new and enhanced
products and services must take advantage of technological advancements and
changes, and respond to new customer requirements.

Our success in designing, developing, and selling such products and services
will depend on a variety of factors, including:

* The identification of market demand for new products and services;
* The scalability of our equipment platforms that deliver the product
and services;
* Features;
* Timely implementation of product and service offerings;
* Quality of performance;
* Cost-effectiveness of service; and
* Success of promotional efforts.

If we are unable, due to resource constraints or technological or other reasons,
to develop and introduce new or enhanced products or services in a timely
manner, if such new or enhanced products or services do not achieve sufficient
market acceptance, or if such new product or service introductions decrease
demand for existing products or services, our operating results would decline
and our business would not grow.

9. WE ARE A SMALL COMPANY WITH LIMITED RESOURCES COMPARED TO SOME OF OUR CURRENT
AND POTENTIAL COMPETITORS AND WE MAY NOT BE ABLE TO COMPETE EFFECTIVELY AND
INCREASE MARKET SHARE. ALSO, INTENSE COMPETITION IN THE MARKETS IN WHICH WE
COMPETE COULD PREVENT US FROM INCREASING OR SUSTAINING OUR REVENUE AND PREVENT
US FROM ACHIEVING PROFITABILITY.

Most of our current and potential competitors have longer operating histories,
significantly greater resources and name recognition, and a larger base of
customers than we have. As a result, these competitors have greater credibility
with our potential customers. They also may be able to adopt more aggressive
pricing policies and devote greater resources to the development, promotion, and
sale of their products and services than we can to ours. Our competitors may
also offer bundled service arrangements, under which a subscriber could receive
wireless internet as an add-on to their landline internet, as well as other
services such as phone (cellular or landline), thus offering a more complete
product/service package despite the technical merits or advantages of our
products and services.

This form of bundling would put us at a competitive disadvantage if these
providers can combine a variety of service offerings at a single attractive
price. To be competitive, we must continue to invest significant resources in
research and development, sales and marketing, and customer support. We may not
have sufficient resources to make these investments or to develop the
technological advances necessary to be competitive, which in turn will cause our
business to suffer and restrict our profitability potential.

10. OUR SUCCESS DEPENDS ON THIRD PARTY DISTRIBUTION CHANNELS.

We intend to sell our services through a series of resellers and distributors.
Our future revenue growth will depend in large part on sales of our services
through these relationships. We need to collaborate with third party resellers
and network providers to deploy our services and we may not be able to deploy
our services on a timely and cost-effective basis, if at all. We may not be
successful in developing distribution relationships. Entities that distribute
our services may compete with us. In addition, these distributors may not
dedicate sufficient resources or give sufficient priority to selling our
services. Our failure to develop distribution channels, the loss of a
distribution relationship, or a decline in the efforts of a material reseller or
distributor could prevent us from generating sufficient revenues to become
profitable.

11. WE RELY ON THIRD PARTIES TO DEPLOY WIRELESS NETWORKS THAT ARE TO BE POWERED
BY QUUIBUS.

The development and expansion of our wireless network will require that we enter
into agreements, on acceptable terms and conditions, with various providers of
infrastructure capacity and equipment and support services. We may not be able
to attract or maintain network providers to deploy our wireless networks
service, or to enter into satisfactory agreements with them. Even if we are able
to do so, our network partners may lack the resources to support the network
until cash flow is able to cover operating costs. They may also lack the
technical skill to properly maintain the network and provide the necessary
support. They may also have a limited ability to market the service.

12. OUR NETWORK PARTNERS MAY RELY ON THIRD PARTIES TO PROVIDE BROADBAND INTERNET
SERVICE TO POWER THEIR WIRELESS NETWORK.

Our network partners will likely be reliant largely on ADSL and cable providers
to provide broadband internet access to the wireless access points. It is
unclear whether these providers will allow our partners to use their networks to
provide our service, and what the costs will be. In particular, there can be no
assurance that our network partners and/or their telecommunications carriers
will not enter into exclusive arrangements with our competitors or otherwise
restrict the availability of our services.

13. WE NEED TO RETAIN KEY PERSONNEL TO SUPPORT OUR SERVICES AND ONGOING
OPERATIONS.

The development and marketing of our products and services will continue to
place a significant strain on our limited personnel, management, and other
resources. Our future success depends upon the continued services of our
executive officers and other needed key employees and contractors who have
critical industry experience and relationships that we rely on to implement our
business plan. The loss of the services of any of our officers (especially Mr.
Hossein Khakbaz Mohseni, our President, Secretary, Treasurer, and Director)
would negatively impact our ability to develop our products and sell our
services, which could adversely affect our financial results and impair our
growth.

14. FUTURE REGULATION OF THE INTERNET AND/OR WIRELESS INTERNET COULD RESTRICT
OUR BUSINESS, PREVENT US FROM OFFERING SERVICES, AND/OR INCREASE OUR COST OF
DOING BUSINESS.

At present there are few laws, regulations or rulings that specifically address
access to or commerce on the internet, including wireless internet. We are
unable to predict the impact, if any, that future legislation, legal decisions,
or regulations concerning the internet may have on our business, financial
condition, and results of operations. Regulation may be targeted towards, among
other things, assessing access or settlement charges, imposing taxes related to
internet communications, restricting content, imposing tariffs or regulations
based on encryption concerns or the characteristics and quality of products and
services, any of which could restrict our business or increase our cost of doing
business. The increasing growth of the internet and popularity of broadband
video products and services heighten the risk that governments or other
legislative bodies will seek to regulate internet services, which could have a
material adverse effect on our business, financial condition, and operating
results.

15. WE MAY LOSE CUSTOMERS IF WE EXPERIENCE SYSTEM FAILURES THAT SIGNIFICANTLY
DISRUPT THE AVAILABILITY AND QUALITY OF THE SERVICES THAT WE PROVIDE.

The operation of our services will depend on our ability to avoid and mitigate
any interruptions in service or reduced capacity for customers. Interruptions in
service or performance problems, for whatever reason, could undermine confidence
in our service and cause us to lose customers or make it more difficult to
attract new ones. In addition, because our service may be critical to the
businesses of our customers, any significant interruption in service could
result in lost profits or other losses to our customers.

16. OUR SUCCESS WILL DEPEND ON OUR ABILITY TO HANDLE A LARGE NUMBER OF
SIMULTANEOUS REQUESTS FOR PROGRAMMING AND VIDEOS, WHICH OUR NETWORK MAY NOT BE
ABLE TO ACCOMMODATE.

We expect the volume of simultaneous requests to increase significantly as our
customer base grows. Our network hardware and software may not be able to
accommodate this additional volume. If we fail to maintain an appropriate level
of operating performance, or if our service is disrupted, our reputation would
be harmed and we could lose customers or have difficulties in attracting new
ones.

17. IF A THIRD PARTY ASSERTS THAT WE INFRINGE UPON ITS PROPRIETARY RIGHTS, WE
COULD BE REQUIRED TO REDESIGN OUR SOFTWARE, PAY SIGNIFICANT ROYALTIES, OR ENTER
INTO LICENSE AGREEMENTS.

Although presently we are not aware of any such claims, a third party may assert
that our technology or third party technologies that we license violate its
intellectual property rights. As the number of software products in our markets
increases and the functionality of these software products further overlap, we
believe that infringement claims will become more common. Any claims against us,
regardless of their merit, could:

* Be expensive and time-consuming to defend;
* Result in negative publicity;
* Force us to stop selling our services that rely on the challenged
intellectual property;
* Require us to redesign our software products;
* Divert management's attention and our other resources; or
* Require us to enter into royalty or licensing agreements in order to
obtain the right to use necessary technologies, which may not be
available on terms acceptable to us, if at all.

We believe that any successful challenge to our use of a trademark or domain
name could substantially diminish our ability to conduct business in a
particular market or jurisdiction and thus could decrease our revenues and/or
result in losses to our business.

ITEM 2. PROPERTIES

EXECUTIVE OFFICES

At present, we do not own any property. We currently maintain our corporate
office at West Magnolia St., #400-136, Bellingham, WA, 98225. We pay monthly
rent for use of this space. This space is sufficient until we commence full
operations.

ITEM 3. LEGAL PROCEEDINGS

We know of no material, active, or pending legal proceeding against our Company,
nor of any material proceeding that a governmental authority is contemplating
against us.

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

No matters were submitted to a vote of our security holders during the fourth
quarter of fiscal year 2009.

PART II

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

MARKET FOR SECURITIES

Our Common Stock is traded on the over-the-counter market and quoted on the
OTCBB under the symbol "QBUS." On July 31, 2009, the closing price for our
Common Stock as reported on the OTCBB was unavailable as our Common Stock has
not traded.

The high and the low bid prices for our Common Stock is based on inter-dealer
prices, without retail mark-up, markdown or commission, and may not represent
actual transactions.

The table below sets forth the range of high and low bid information for our
Common Shares as quoted on the OTCBB for each of the quarters during the fiscal
year ended July 31, 2009 (no quotes are available for the previous fiscal year
as our stock has not traded ):

For the Fiscal Year Ended July 31, 2009

For the Quarter ended High Low
--------------------- ---- ---

October 31 N/A N/A
January 31 N/A N/A
April 30 N/A N/A
July 31 N/A N/A

HOLDERS OF OUR COMMON STOCK

On October 26, 2009, the shareholders' list of our common stock showed 39
registered shareholder and 2,525,000 shares outstanding.

DIVIDEND POLICY

We have not paid any cash dividends on our common stock and have no present
intention of paying any dividends on the shares of our common stock. Our future
dividend policy will be determined from time to time by our board of directors.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

As of July 31, 2009, we had not adopted an equity compensation plan and had not
granted any stock options.

RECENT SALES OF UNREGISTERED SECURITIES

During the fiscal year ended July 31, 2009, we have not sold any equity
securities not registered under the Securities Act.

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASES

During each month within the fourth quarter of the fiscal year ended July 31,
2009, neither we nor any "affiliated purchaser," as that term is defined in Rule
10b-18(a)(3) under the Exchange Act, repurchased any of our Common Stock or
other securities.

ITEM 6. SELECTED FINANCIAL DATA

Not Applicable.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATION

The following discussion should be read in conjunction with our audited
financial statements and the related notes that appear elsewhere in this annual
report. The following discussion contains forward-looking statements that
reflect our plans, estimates and beliefs. Our actual results could differ
materially from those discussed in the forward looking statements. Factors that
could cause or contribute to such differences include those discussed below and
elsewhere in this annual report.

Our financial statements are stated in United States dollars and are prepared in
accordance with United States generally accepted accounting principles.

APPLICATION OF CRITICAL ACCOUNTING ESTIMATES

The preparation of financial statements in conformity with United States
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the year.
The more significant areas requiring the use of estimates include asset
impairment, stock-based compensation, and future income tax amounts. Management
bases its estimates on historical experience and on other assumptions considered
to be reasonable under the circumstances. However, actual results may differ
from the estimates.

BASIS OF PRESENTATION AND ORGANIZATION

We are a Nevada corporation in the development stage. The Company was
incorporated under the laws of the State of Nevada on March 28, 2007. The
business plan of Quuibus is focused on developing and offering a server-based
software product for the creation of wireless communities. Quuibus intends to
enable service providers, organizations, and individuals to deploy wireless
networks and to sell subscriptions to access such networks to end-users. The
Company's goal is to provide end-users with the ability to roam across
Quuibus-powered wireless networks. The accompanying financial statements of
Quuibus were prepared from the accounts of the Company under the accrual basis
of accounting.

In addition, Quuibus commenced a capital formation activity to effect a
Registration Statement on Form SB-2 with the Securities and Exchange Commission,
and raise capital of up to $60,000 from a self-underwritten offering of
1,200,000 shares of newly issued common stock in the public markets. The
Registration Statement on Form SB-2 was filed with the SEC on November 13, 2007,

and declared effective on November 21, 2007. On February 18, 2008, Quuibus
completed an offering of its registered common stock as explained in Note 3.

CASH AND CASH EQUIVALENTS

For purposes of reporting within the statements of cash flows, the Company
considers all cash on hand, cash accounts not subject to withdrawal restrictions
or penalties, and all highly liquid debt instruments purchased with a maturity
of three months or less to be cash and cash equivalents.

REVENUE RECOGNITION

We are in the development stage and has yet to realize revenues from operations.
Once the Company has commenced operations, it will recognize revenues when
delivery of goods or completion of services has occurred provided there is
persuasive evidence of an agreement, acceptance has been approved by its
customers, the fee is fixed or determinable based on the completion of stated
terms and conditions, and collection of any related receivable is probable.

LOSS PER COMMON SHARE

Basic loss per share is computed by dividing the net loss attributable to the
common stockholders by the weighted average number of shares of common stock
outstanding during the period. Diluted loss per share is computed similar to
basic loss per share except that the denominator is increased to include the
number of additional common shares that would have been outstanding if the
potential common shares had been issued and if the additional common shares were
dilutive. There were no dilutive financial instruments issued or outstanding
during the years ended July 31, 2009, and 2008.

INCOME TAXES

We account for income taxes pursuant to SFAS No. 109, "ACCOUNTING FOR INCOME
TAXES" ("SFAS No. 109"). Under SFAS No. 109, deferred tax assets and liabilities
are determined based on temporary differences between the bases of certain
assets and liabilities for income tax and financial reporting purposes. The
deferred tax assets and liabilities are classified according to the financial
statement classification of the assets and liabilities generating the
differences.

We maintain a valuation allowance with respect to deferred tax assets. The
Company establishes a valuation allowance based upon the potential likelihood of
realizing the deferred tax asset and taking into consideration the Company's
financial position and results of operations for the current period. Future
realization of the deferred tax benefit depends on the existence of sufficient
taxable income within the carryforward period under the Federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could
cause a change in judgment about the realizability of the related deferred tax
asset. Any change in the valuation allowance will be included in income in the
year of the change in estimate.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company estimates the fair value of financial instruments using the
available market information and valuation methods. Considerable judgment is
required in estimating fair value. Accordingly, the estimates of fair value may
not be indicative of the amounts the Company could realize in a current market
exchange. As of July 31, 2009, and 2008, the carrying value of the Company's
financial instruments approximated fair value due to the short-term nature and
maturity of these instruments.

DEFERRED OFFERING COSTS

The Company defers as other assets the direct incremental costs of raising
capital until such time as the offering is completed. At the time of the
completion of the offering, the costs are charged against the capital raised.
Should the offering be terminated, deferred offering costs are charged to
operations during the period in which the offering is terminated.

COMMON STOCK REGISTRATION EXPENSES

The Company considers incremental costs and expenses related to the registration
of equity securities with the SEC, whether by contractual arrangement as of a
certain date or by demand, to be unrelated to original issuance transactions. As
such, subsequent registration costs and expenses are reflected in the
accompanying financial statements as general and administrative expenses, and
are expensed as incurred.

ESTIMATES

The financial statements are prepared on the basis of accounting principles
generally accepted in the United States of America. The preparation of financial
statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities as of July 31, 2009, and 2008, and revenues and expenses
for the years ended July 31, 2009, and 2008, and cumulative from inception.
Actual results could differ from those estimates made by management.

EXECUTIVE OVERVIEW

We are a development stage company with limited operations and no revenues from
our business operations. Our auditors have issued a going concern opinion. This
means that our auditors believe there is substantial doubt that we can continue
as an on-going business for the next twelve months. We do not anticipate that we
will generate significant revenues until we have completed development of our
software and implemented our marketing plan to generate customers. Accordingly,
we have raised cash from sources other than our operations in order to implement
our marketing plan.

In our management's opinion, there is a need for wireless network services
enabling the creation of wireless communities. We are focused on developing an
authentication and billing software product, and offering a wireless networking
service for the creation of wireless communities. We intend to enable service
providers, organizations, and individuals to deploy wireless networks, and to
sell subscriptions to end-users to access such wireless networks. Our goal is to
provide users with the ability to roam across Quuibus-powered wireless networks.
A user with a Quuibus account will be able to connect through and roam across
any of our partner wireless networks, similar to the way cellular phone
companies allow their customers to roam across different networks.

To meet our need for cash, we have raised money from the sale of shares which we
registered through a public offering which became effective on November 21,
2007. As of February 18, 2008, we sold 925,000 shares of our common stock
through such offering, which generated $46,500 in gross proceeds. We have used
these proceeds to fund our operations in our last fiscal year. If we are unable
to generate revenues going forward, or if we are unable to make a reasonable
profit, we may have to suspend or cease operations. At the present time, we have
not made any arrangements to raise additional cash; however, we intend to seek
additional financing through equity or debt to continue with our business plan.

PLAN OF OPERATION

Our specific goal is to develop our software product and to execute our
marketing plan. First, we plan to develop and deploy a software product that
allows the authentication of wireless users seeking to use the internet.

After development of our authentication and billing software product, we plan to
commence marketing of our wireless networking service on a subscription basis.

We will deploy a server side server in order to perform authentication and
billing. Billing will be done exclusively through Paypal. In addition, we will
use Paypal to compensate partners and resellers. Our billing and payment system
will be completely automated which will keep operational costs to a minimum.

Our customers will gain access to the internet through a network of wireless
access points that are deployed by our partners. These wireless access devices
will be radius compliant as to be able to communicate with our server.

When a wireless user tries to access the internet through one of our partner's
wireless access devices, he will be forwarded to a web page that asks him to
enter his user name and password, or, if he is not a customer, to subscribe to
the service. If the wireless subscriber elects to subscribe to the service, the
owner of the access point will receive a one-time fee for such subscription.

If the credential supplied by the user is correct, then the user will be allowed
access to the internet. The number of times a customer accesses the network will
be logged into our database and will be used to calculate our partners'
compensation.

We intend to offer yearly, monthly, and daily plans. The price of each of these
plans will vary between countries since there are variations in the cost of
delivering the service between countries as well as different income levels
among the users and differences in the availability of competitive services. Our
subscribers will be able to roam (I.E, connect to the internet) across our
network.

We plan to develop and deploy the backend software that is necessary to manage
customer access to the network. We will not deploy the wireless access devices,
but will rely on our partners to do so. We intend to test a variety of wireless
devices and will establish a list of supported devices. Our web site will be the
venue where partners will access their account information, find information
about the service, and sign up to be partners. We will maximize automation,
thereby significantly decreasing operational costs.

Due to a lack of financing, the Company has not been able continue with its
research and product development activities.

OFF BALANCE SHEET TRANSACTIONS

We have had no off balance sheet transactions.

SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment for the next twelve
months.

RESULTS OF OPERATIONS

REVENUES

We had no revenues for the period from March 28, 2007 (date of inception),
through July 31, 2009.

EXPENSES

Our expenses for the twelve month periods ended July 31, 2009, and 2008, were
$20,196 and $41,576, respectively. During the period from March 28, 2007 (date
of inception), through July 31, 2009, we incurred expenses of $62,292. These
expenses were comprised primarily of office rent, legal expenses, accounting
expenses, SEC filing fees, transfer agent fees, as well as bank fees.

NET INCOME (LOSS)

Our net losses for the twelve-month periods ended July 31, 2009, and 2008, were
$20,196 and $41,576, respectively. During the period from March 28, 2007 (date
of inception), through July 31, 2009, we incurred a net loss of $62,292. This
loss consisted of office rent, legal expenses, accounting expenses, SEC filing
fees, transfer agent fees, as well as bank fees. Since inception, we have sold
2,525,000 shares of common stock.

PURCHASE OR SALE OF EQUIPMENT

We do not expect to purchase or sell any plant or significant equipment.

LIQUIDITY AND CAPITAL RESOURCES

Our balance sheet as of July 31, 2009, reflects assets of $138 in the form of
cash and cash equivalents. Since inception, we have sold 2,525,000 shares of
common stock with net proceeds of $52,750. However, cash resources provided from
our capital formation activities have, from inception, been insufficient to
provide the working capital necessary to operate our Company.

We anticipate generating losses in the near term, and therefore, may be unable
to continue operations in the future. We require additional capital, and we may
have to issue debt or equity or enter into a strategic arrangement with a third
party to obtain such capital. There can be no assurance that additional capital
will be available to us. We currently have no agreements, arrangements, or
understandings with any person to obtain funds through bank loans, lines of
credit, or any other sources.

GOING CONCERN CONSIDERATION

Our registered independent auditors included an explanatory paragraph in their
report on the accompanying financial statements regarding concerns about our
ability to continue as a going concern. Our financial statements contain
additional note disclosures describing the circumstances that lead to this
disclosure by our registered independent auditors.

Due to this doubt about our ability to continue as a going concern, management
is open to new business opportunities which may prove more profitable to the
shareholders of Quuibus Technology, Inc. In the past, we have been able to raise
a limited amount of capital through private placements of our equity stock, but
we are uncertain about our continued ability to raise funds privately. Further,
we believe that our company may have difficulties raising capital unless we
locate a prospective new business opportunity through which we can pursue a new
plan of operation. If we are unable to secure adequate capital to implement our
current business plan or to continue our acquisition efforts of a new business
opportunity, our business may fail and our stockholders may lose some or all of
their investment.

Should our original business plan fail, we anticipate that the selection of a
business opportunity in which to participate will be complex and without
certainty of success. Management believes that there are numerous firms in
various industries seeking the perceived benefits of being a publicly registered
corporation. Business opportunities may be available in many different
industries and at various stages of development, all of which will make the task
of comparative investigation and analysis of such business opportunities
extremely difficult and complex. We can provide no assurance that we will be
able to locate compatible business opportunities.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
INDEX TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

Report of Registered Independent Auditors................................... 18

Financial Statements -

Balance Sheets as of July 31, 2009, and 2008............................. 19

Statements of Operations for the Years Ended
July 31, 2009, and 2008, and Cumulative from Inception.................. 20

Statement of Stockholders' Equity (Deficit) for the Period
from Inception Through July 31, 2009.................................... 21

Statements of Cash Flows for the Years Ended
July 31, 2009, and 2008, and Cumulative from Inception.................. 22

Notes to Financial Statements July 31, 2009, and 2008.................... 23

REPORT OF REGISTERED INDEPENDENT AUDITORS

To the Board of Directors and Stockholders
of Quuibus Technology, Inc.:

We have audited the accompanying balance sheets of Quuibus Technology, Inc. (a
Nevada corporation in the development stage) as of July 31, 2009, and 2008, and
the related statements of operations, stockholders' equity (deficit), and cash
flows for each of the two years in the period ended July 31, 2009, and
cumulative from inception (March 28, 2007) through July 31, 2009. These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States of America). Those standards require
that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement. The Company is not
required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audits included consideration of internal
control over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company's internal control over financial
reporting. Accordingly, we express no such opinion. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Quuibus Technology, Inc. as of
July 31, 2009, and 2008, and the results of its operations and its cash flows
for each of the two years in the period ended July 31, 2009, and cumulative from
inception (March 28, 2007) through July 31, 2009, in conformity with accounting
principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 2 to the
financial statements, the Company is in the development stage, and has not
established any source of revenue to cover its operating costs. As such, it has
incurred an operating loss since inception. Further, as of July 31, 2009, and
2008, the cash resources of the Company were insufficient to meet its planned
business objectives. These and other factors raise substantial doubt about the
Company's ability to continue as a going concern. Management's plan regarding
these matters is also described in Note 2 to the financial statements. The
accompanying financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

Respectfully submitted,

/s/ Davis Accounting Group P.C.
- ---------------------------------------
Cedar City, Utah,

October 10, 2009.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS (NOTE 2)
AS OF JULY 31, 2009, AND 2008

2009 2008
-------- --------

ASSETS

CURRENT ASSETS:
Cash in bank $ 138 $ 14,949
-------- --------
Total current assets 138 14,949
-------- --------

TOTAL ASSETS $ 138 $ 14,949
======== ========

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES:
Accounts payable - Trade $ 4,705 $ 200
Accrued liabilities 3,500 3,620
Due to Shareholder 1,000
-------- --------
Total current liabilities 9,205 3,820
-------- --------

Total liabilities 9,205 3,820
-------- --------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, par value $0.001 per share;
20,000,000 shares authorized; 2,525,000 shares
issued and outstanding in 2009 and 2008, respectively 2,525 2,525
Additional paid-in capital 50,700 50,700
(Deficit) accumulated during the development stage (62,292) (42,096)
-------- --------
Total stockholders' equity (deficit) (9,067) 11,129
-------- --------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 138 $ 14,949
======== ========

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

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS (NOTE 2)
FOR THE YEARS ENDED JULY 31, 2009, AND 2008,
AND CUMULATIVE FROM INCEPTION (MARCH 28, 2007) THROUGH JULY 31, 2009

Cumulative
From
2009 2008 Inception
---------- ---------- ----------

REVENUES $ -- $ -- $ --
---------- ---------- ----------
EXPENSES:
General and administrative-
Legal fees - Other 3,024 14,687 18,191
Transfer agent fees 1,450 12,519 13,969
Accounting and audit fees 9,500 8,000 17,500
SEC filing fees 4,622 4,153 8,775
Office rent 1,441 1,440 2,881
Legal fees - Incorporation fees -- 475 475
Bank fees 159 214 413
Office supplies -- 88 88
---------- ---------- ----------

Total general and administrative expenses 20,196 41,576 62,292
---------- ---------- ----------

(LOSS) FROM OPERATIONS (20,196) (41,576) (62,292)

OTHER INCOME (EXPENSE) -- -- --

PROVISION FOR INCOME TAXES -- -- --
---------- ---------- ----------

NET (LOSS) $ (20,196) $ (41,576) $ (62,292)
========== ========== ==========

(LOSS) PER COMMON SHARE:
(Loss) per common share - Basic and Diluted $ (0.01) $ (0.02)
========== ==========
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING - BASIC AND DILUTED 2,525,000 2,015,616
========== ==========

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

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (NOTE 2)
FOR THE PERIOD FROM INCEPTION (MARCH 28, 2007) THROUGH JULY 31, 2009

(Deficit)
Accumulated
Common Stock Additional During the
----------------------- Paid-in Development
Description Shares Amount Capital Stage Totals
----------- ------ ------ ------- ----- ------

BALANCE - MARCH 28, 2007 -- $ -- $ -- $ -- $ --

Common stock issued for cash 1,600,000 1,600 18,400 -- 20,000

Net (loss) for the period -- -- -- (520) (520)
--------- ------ ------- -------- --------

BALANCE - JULY 31, 2007 1,600,000 1,600 18,400 (520) 19,480

Common stock issued for cash 925,000 925 45,575 -- 46,500

Deferred offering costs -- -- (13,750) -- (13,750)

Forgiveness of related party debt -- -- 475 -- 475

Net (loss) for the period -- -- -- (41,576) (41,576)
--------- ------ ------- -------- --------

BALANCE - JULY 31, 2008 2,525,000 2,525 50,700 (42,096) 11,129

Net (loss) for the period -- -- -- (20,196) (20,196)
--------- ------ ------- -------- --------

BALANCE - JULY 31, 2009 2,525,000 $2,525 $50,700 $(62,292) $ (9,067)
========= ====== ======= ======== ========

The accompanying notes to financial statements are an integral
part of this statement.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS (NOTE 2)
FOR THE YEARS ENDED JULY 31, 2009, AND 2008, AND
CUMULATIVE FROM INCEPTION (MARCH 28, 2007) THROUGH JULY 31, 2009

Cumulative
From
2009 2008 Inception
-------- -------- ---------

OPERATING ACTIVITIES:
Net (loss) $(20,196) $(41,576) $(62,292)
Adjustments to reconcile net (loss) to net
cash (used in) operating activities:
Expenses incured by officer and Director -- 475 475
Changes in net liabilities-
Accounts payable - Trade 4,505 200 4,705
Accrued liabilities (120) (610) 3,500
-------- -------- --------

NET CASH (USED IN) OPERATING ACTIVITIES (15,811) (41,511) (53,612)
-------- -------- --------
INVESTING ACTIVITIES:
Cash provided by investing activities -- -- --
-------- -------- --------

NET CASH PROVIDED BY INVESTING ACTIVITIES -- -- --
-------- -------- --------
FINANCING ACTIVITIES:
Issuance of common stock for cash -- 46,500 66,500
Loan from Shareholder 1,000 -- 1,000
Deferred offering costs -- -- (13,750)
-------- -------- --------

NET CASH PROVIDED BY FINANCING ACTIVITIES 1,000 46,500 53,750
-------- -------- --------

NET INCREASE (DECREASE) IN CASH (14,811) 4,989 138

CASH - BEGINNING OF PERIOD 14,949 9,960 --
-------- -------- --------

CASH - END OF PERIOD $ 138 $ 14,949 $ 138
======== ======== ========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid during the period for:
Interest $ -- $ -- $ --
======== ======== ========

Income taxes $ -- $ -- $ --
======== ======== ========

During the year ended July 31, 2008, an officer, Director, and shareholder of
the Company forgave the Company of a related party debt in the amount of $475.

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

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND ORGANIZATION

Quuibus Technology, Inc. ("Quuibus" or the "Company") is a Nevada corporation in
the development stage. The Company was incorporated under the laws of the State
of Nevada on March 28, 2007. The business plan of Quuibus is focused on
developing and offering a server-based software product for the creation of
wireless communities. Quuibus intends to enable service providers,
organizations, and individuals to deploy wireless networks and to sell
subscriptions to access such networks to end-users. The Company's goal is to
provide end-users with the ability to roam across Quuibus-powered wireless
networks. The accompanying financial statements of Quuibus were prepared from
the accounts of the Company under the accrual basis of accounting.

CASH AND CASH EQUIVALENTS

REVENUE RECOGNITION

The Company is in the development stage and has yet to realize revenues from
operations. Once the Company has commenced operations, it will recognize
revenues when delivery of goods or completion of services has occurred provided
there is persuasive evidence of an agreement, acceptance has been approved by
its customers, the fee is fixed or determinable based on the completion of
stated terms and conditions, and collection of any related receivable is
probable.

LOSS PER COMMON SHARE

INCOME TAXES

The Company accounts for income taxes pursuant to SFAS No. 109, "ACCOUNTING FOR
INCOME TAXES" ("SFAS No. 109"). Under SFAS No. 109, deferred tax assets and
liabilities are determined based on temporary differences between the bases of
certain assets and liabilities for income tax and financial reporting purposes.
The deferred tax assets and liabilities are classified according to the
financial statement classification of the assets and liabilities generating the
differences.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

The Company maintains a valuation allowance with respect to deferred tax assets.
The Company establishes a valuation allowance based upon the potential
likelihood of realizing the deferred tax asset and taking into consideration the
Company's financial position and results of operations for the current period.
Future realization of the deferred tax benefit depends on the existence of
sufficient taxable income within the carryforward period under the Federal tax
laws.

FAIR VALUE OF FINANCIAL INSTRUMENTS

DEFERRED OFFERING COSTS

COMMON STOCK REGISTRATION EXPENSES

ESTIMATES

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

(2) DEVELOPMENT STAGE ACTIVITIES AND GOING CONCERN

The Company is currently in the development stage and has engaged in limited
operations. Initial operations through July 31, 2009, include organization and
incorporation, capital formation activities, target market identification, and
marketing plans. The business plan of the Company is focused on developing and
offering a server-based software product for the creation of wireless
communities. The Company intends to enable service providers, organizations, and
individuals to deploy wireless networks and to sell subscriptions to access such
networks to end-users. The Company's goal is to provide end-users with the
ability to roam across Quuibus-powered wireless networks.

During the period from March 28, 2007, through July 31, 2009, the Company was
incorporated and issued 1,600,000 shares to its Directors for cash proceeds of
$20,000. In addition, the Company commenced a capital formation activity to
effect a Registration Statement on Form SB-2 with the SEC, and raise capital of
up to $60,000 from a self-underwritten offering of 1,200,000 shares of newly
issued common stock in the public markets. The Registration Statement on Form
SB-2 was filed with the SEC on November 13, 2007, and declared effective on
November 21, 2007. On February 18, 2008, the Company completed an offering of
its registered common stock as explained in Note 3. The Company also intends to
conduct additional capital formation activities through the issuance of its
common stock and to further conduct its operations.

While management of the Company hopes that the Company will be successful in its
planned operating activities, there can be no assurance that the Company will
successfully develop its product, or that the sale of its planned product or
services will generate sufficient revenues to earn a profit or to sustain its
operations.

The accompanying financial statements have been prepared in conformity with
accounting principles generally accepted in the United States of America, which
contemplate continuation of the Company as a going concern. The Company has
incurred an operating loss since inception and has no revenues to offset its
operating costs. In addition, as of July 31, 2009, and 2008, the cash resources
of the Company were insufficient to carry out its business plan. These and other
factors raise substantial doubt about Quuibus' ability to continue as a going
concern. The accompanying financial statements do not include any adjustments to
reflect the possible future effects on the recoverability and classification of
assets or the amounts and classification of liabilities that may result from the
possible inability of the Company to continue as a going concern.

(3) COMMON STOCK

The Company is authorized to issue 20,000,000 shares of $0.001 par value common
stock. All common stock shares have equal voting rights, are non-assessable, and
have one vote per share. Voting rights are not cumulative and, therefore, the
holders of more than 50% of the common stock could, if they choose to do so,
elect all of the Directors of the Company.

On July 6, 2007, the Company issued 1,600,000 shares of common stock to its
Directors at a price of $0.0125 per share for cash proceeds of $20,000.

In addition, in 2007, the Company commenced a capital formation activity to
effect a Registration Statement on Form SB-2 with the SEC, and raise capital of
up to $60,000 from a self-underwritten offering of 1,200,000 shares of newly
issued common stock at a price of $0.05 per share in the public markets. The
Registration Statement on Form SB-2 was filed with the SEC on November 13, 2007,
and declared effective on November 21, 2007. On February 18, 2008, the Company
completed the self-underwritten offering of 925,000 shares of its registered
common stock, par value of $0.001 per share, at an offering price of $0.05 per
share for proceeds of $46,500.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

(4) INCOME TAXES

The provision (benefit) for income taxes for the years ended July 31, 2009, and
2008, were as follows (assuming a 15% effective tax rate):

2009 2008
------- -------
Current Tax Provision:
Federal-
Taxable income $ -- $ --
------- -------

Total current tax provision $ -- $ --
======= =======

Deferred Tax Provision:
Federal-
Loss carryforwards $ 3,029 $ 6,236
Change in valuation allowance (3,029) (6,236)
------- -------

Total deferred tax provision $ -- $ --
======= =======

The Company had deferred income tax assets as of July 31, 2009, and 2008, as
follows:

2009 2008
------- -------

Loss carryforwards $ 9,343 $ 6,314

Less - Valuation allowance (9,343) (6,314)
------- -------

Total net deferred tax assets $ -- $ --
======= =======

The Company provided a valuation allowance equal to the deferred income tax
assets for the year ended July 31, 2009, and 2008, because it is not presently
known whether future taxable income will be sufficient to utilize the loss
carryforwards.

As of July 31, 2009, the Company had approximately $62,292 (July 31, 2008 -
$42,096) in tax loss carryforwards that can be utilized in future periods to
reduce taxable income, and begin to expire in the year 2027.

(5) RELATED PARTY TRANSACTIONS

During the year ended July 31, 2008, an officer, Director, and stockholder of
the Company personally paid for expenses on behalf of the Company in the amount
of $475. As of July 31, 2008, this individual forgave the Company of this debt.

During the year ended July 31, 2009, an officer, Director and stockholder of the
Company loaned $1,000 for working capital purposes. The amount is unsecured,
non-interest bearing, and has no specific terms of repayment.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

(6) RECENT ACCOUNTING PRONOUNCEMENTS

In March 2008, the FASB issued FASB Statement No. 161, "DISCLOSURES ABOUT
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - AN AMENDMENT OF FASB STATEMENT
133" ("SFAS No. 161"). SFAS No. 161 enhances required disclosures regarding
derivatives and hedging activities, including enhanced disclosures regarding
how: (a) an entity uses derivative instruments; (b) derivative instruments and
related hedged items are accounted for under FASB No. 133, "ACCOUNTING FOR
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES"; and (c) derivative instruments
and related hedged items affect an entity's financial position, financial
performance, and cash flows. Specifically, SFAS No. 161 requires:

- disclosure of the objectives for using derivative instruments be
disclosed in terms of underlying risk and accounting designation;
- disclosure of the fair values of derivative instruments and their
gains and losses in a tabular format;
- disclosure of information about credit-risk-related contingent
features; and
- cross-reference from the derivative footnote to other footnotes in
which derivative-related information is disclosed.

SFAS No. 161 is effective for fiscal years and interim periods beginning after
November 15, 2008. Earlier application is encouraged. The management of the
Company does not expect the adoption of this pronouncement to have a material
impact on its financial statements.

In May 2008, the FASB issued FASB Statement No. 162, "THE HIERARCHY OF GENERALLY
ACCEPTED ACCOUNTING PRINCIPLES" ("SFAS No. 162"). SFAS No. 162 is intended to
improve financial reporting by identifying a consistent framework, or hierarchy,
for selecting accounting principles to be used in preparing financial statements
that are presented in conformity with U.S. generally accepted accounting
principles ("GAAP") for nongovernmental entities.

Prior to the issuance of SFAS No. 162, GAAP hierarchy was defined in the
American Institute of Certified Public Accountants ("AICPA") Statement on
Auditing Standards, "THE MEANING OF PRESENT FAIRLY IN CONFORMITY WITH GENERALLY
ACCEPT ACCOUNTING PRINCIPLES" ("SAS No. 69"). SAS No. 69 has been criticized
because it is directed to the auditor rather than the entity. SFAS No. 162
addresses these issues by establishing that the GAAP hierarchy should be
directed to entities because it is the entity (not the auditor) that is
responsible for selecting accounting principles for financial statements that
are presented in conformity with GAAP.

The sources of accounting principles that are generally accepted are categorized
in descending order as follows:

a) FASB Statements of the Financial Accounting Standards Board and
Interpretations, FASB Statement No. 133 Implementation Issues, FASB
Staff Positions, and American Institute of Certified Public
Accountants (AICPA) Accounting Research Bulletins and Accounting
Principles Board Opinions that are not superseded by actions of the
FASB.
b) FASB Technical Bulletins and, if cleared by the FASB, AICPA Industry
Audit and Accounting Guides and Statements of Position.
c) AICPA Accounting Standards Executive Committee Practice Bulletins that
have been cleared by the FASB, consensus positions of the FASB
Emerging Issues Task Force (EITF), and the Topics discussed in
Appendix D of EITF Abstracts (EITF D-Topics).
d) Implementation guides (Q&As) published by the FASB staff, AICPA
Accounting Interpretations, AICPA Industry Audit and Accounting Guides
and Statements of Position not cleared by the FASB, and practices that
are widely recognized and prevalent either generally or in the
industry.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

SFAS No. 162 is effective 60 days following the SEC's approval of the Public
Company Accounting Oversight Board amendment to its authoritative literature. It
is only effective for nongovernmental entities; therefore, the GAAP hierarchy
will remain in SAS No. 69 for state and local governmental entities and federal
governmental entities. The management of the Company does not expect the
adoption of this pronouncement to have a material impact on its financial
statements.

In May 2008, the FASB issued FASB Statement No. 163, "ACCOUNTING FOR FINANCIAL
GUARANTEE INSURANCE CONTRACTS" ("SFAS No. 163"). SFAS No. 163 clarifies how FASB
Statement No. 60, "ACCOUNTING AND REPORTING BY INSURANCE ENTERPRISES" ("SFAS No.
60"), applies to financial guarantee insurance contracts issued by insurance
enterprises, including the recognition and measurement of premium revenue and
claim liabilities. It also requires expanded disclosures about financial
guarantee insurance contracts.

The accounting and disclosure requirements of SFAS No. 163 are intended to
improve the comparability and quality of information provided to users of
financial statements by creating consistency. Diversity exists in practice in
accounting for financial guarantee insurance contracts by insurance enterprises
under SFAS No. 60, "ACCOUNTING AND REPORTING BY INSURANCE ENTERPRISES." That
diversity results in inconsistencies in the recognition and measurement of claim
liabilities because of differing views about when a loss has been incurred under
FASB Statement No. 5, "ACCOUNTING FOR CONTINGENCIES" ("SFAS No. 5"). SFAS No.
163 requires that an insurance enterprise recognize a claim liability prior to
an event of default when there is evidence that credit deterioration has
occurred in an insured financial obligation. It also requires disclosure about
(a) the risk-management activities used by an insurance enterprise to evaluate
credit deterioration in its insured financial obligations and (b) the insurance
enterprise's surveillance or watch list.

SFAS No. 163 is effective for financial statements issued for fiscal years
beginning after December 15, 2008, and all interim periods within those fiscal
years, except for disclosures about the insurance enterprise's risk-management
activities. Disclosures about the insurance enterprise's risk-management
activities are effective the first period beginning after issuance of SFAS No.
163. Except for those disclosures, earlier application is not permitted. The
management of the Company does not expect the adoption of this pronouncement to
have material impact on its financial statements.

On May 22, 2009, the FASB issued FASB Statement No. 164, "NOT-FOR-PROFIT
ENTITIES: MERGERS AND ACQUISITIONS" ("SFAS No. 164"). SFAS No. 164 is intended
to improve the relevance, representational faithfulness, and comparability of
the information that a not-for-profit entity provides in its financial reports
about a combination with one or more other not-for-profit entities, businesses,
or nonprofit activities. To accomplish that, this Statement establishes
principles and requirements for how a not-for-profit entity:

a. Determines whether a combination is a merger or an acquisition.
b. Applies the carryover method in accounting for a merger.
c. Applies the acquisition method in accounting for an acquisition,
including determining which of the combining entities is the acquirer.
d. Determines what information to disclose to enable users of financial
statements to evaluate the nature and financial effects of a merger or
an acquisition.

This Statement also improves the information a not-for-profit entity provides
about goodwill and other intangible assets after an acquisition by amending FASB
Statement No. 142, "GOODWILL AND OTHER INTANGIBLE ASSETS," to make it fully
applicable to not-for-profit entities.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

SFAS No. 164 is effective for mergers occurring on or after December 15, 2009,
and acquisitions for which the acquisition date is on or after the beginning of
the first annual reporting period beginning on or after December 15, 2009. Early
application is prohibited. The management of the Company does not expect the
adoption of this pronouncement to have material impact on its financial
statements.

On May 28, 2009, the FASB issued FASB Statement No. 165, "SUBSEQUENT EVENTS"
("SFAS No. 165"). FASB No. 165 establishes general standards of accounting for
and disclosure of events that occur after the balance sheet date but before
financial statements are issued or are available to be issued. Specifically,
FASB No. 165 provides:

1. The period after the balance sheet date during which management of a
reporting entity should evaluate events or transactions that may occur
for potential recognition or disclosure in the financial statements.
2. The circumstances under which an entity should recognize events or
transactions occurring after the balance sheet date in its financial
statements.
3. The disclosures that an entity should make about events or
transactions that occurred after the balance sheet date.

In accordance with this Statement, an entity should apply the requirements to
interim or annual financial periods ending after June 15, 2009. The management
of ERE does not expect the adoption of this pronouncement to have material
impact on its financial statements.

On June 9, 2009, the FASB issued FASB Statement No. 166, "ACCOUNTING FOR
TRANSFERS OF FINANCIAL ASSETS- AN AMENDMENT OF FASB STATEMENT NO. 140" ("SFAS
No. 166"). SFAS No. 166 revises the derecognization provision of SFAS No. 140
"ACCOUNTING FOR TRANSFERS AND SERVICING OF FINANCIAL ASSETS AND EXTINGUISHMENT
OF LIABILITIES" and will require entities to provide more information about
sales of securitized financial assets and similar transactions, particularly if
the seller retains some risk with respect to the assets. It also eliminates the
concept of a "qualifying special-purpose entity."

This statement is effective for financial asset transfers occurring after the
beginning of an entity's first fiscal year that begins after November 15, 2009.
The management of the Company does not expect the adoption of this pronouncement
to have a material impact on its financial statements.

In June 2009, the FASB issued FASB Statement 167 "AMENDMENTS TO FASB
INTERPRETATION NO. 46(R)" (SFAS No. 167"). SFAS No. 167 amends certain
requirements of FASB Interpretation No. 46(R), "CONSOLIDATION OF VARIABLE
INTEREST ENTITIES" to improve financial reporting by companies involved with
variable interest entities and to provide additional disclosures about the
involvement with variable interest entities and any significant changes in risk
exposure due to that involvement. A reporting entity will be required to
disclose how its involvement with a variable interest entity affects the
reporting entity's financial statements.

This Statement shall be effective as of the beginning of each reporting entity's
first annual reporting period that begins after November 15, 2009. The
management of the Company does not expect the adoption of this pronouncement to
have a material impact on its financial statements.

In June 2009, the FASB issued FASB Statement No. 168, "THE FASB ACCOUNTING
STANDARDS CODIFICATION AND THE HIERARCHY OF GENERALLY ACCEPTED ACCOUNTING
PRINCIPLES - A REPLACEMENT OF FASB STATEMENT NO. 162" ("SFAS No. 168"). SFAS No.
168 establishes the FASB Accounting Standards Codification (the "Codification")
to become the single official source of authoritative, nongovernmental U.S.
generally accepted accounting principles (GAAP). The Codification did not change
GAAP, but reorganizes the literature.

SFAS No. 168 is effective for interim and annual periods ending after September
15, 2009. The management of the Company does not expect the adoption of this
pronouncement to have a material impact on its financial statements.

QUUIBUS TECHNOLOGY, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2009, AND 2008

(7) SUBSEQUENT EVENT

On August 6, 2009, a Director and stockholder of the Company loaned $9,761 to
the Company for working capital purposes. The loan is unsecured, non-interest
bearing, and has no specific terms of repayment.

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

None.

ITEM 9A. CONTROLS AND PROCEDURES

DISCLOSURE CONTROLS AND PROCEDURES

MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

Our management is responsible for establishing and maintaining adequate internal
control over financial reporting. Internal control over financial reporting is
defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange
Act of 1934 as a process designed by, or under the supervision of, the company's
principal executive and principal financial officers and effected by the
company's board of directors, management and other personnel, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
accounting principles generally accepted in the United States of America and
includes those policies and procedures that:

- Pertain to the maintenance of records that in reasonable detail
accurately and fairly reflect the transactions and dispositions of the
assets of the company;
- Provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance
with accounting principles generally accepted in the United States of
America and that receipts and expenditures of the company are being
made only in accordance with authorizations of management and
directors of the company; and
- Provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of the company's
assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate. All internal control systems,
no matter how well designed, have inherent limitations. Therefore, even those
systems determined to be effective can provide only reasonable assurance with
respect to financial statement preparation and presentation. Because of the
inherent limitations of internal control, there is a risk that material
misstatements may not be prevented or detected on a timely basis by internal
control over financial reporting. However, these inherent limitations are known
features of the financial reporting process. Therefore, it is possible to design
into the process safeguards to reduce, though not eliminate, this risk.

As of July 31, 2009, our principal executive officer and principal financial
officer assessed the effectiveness of our internal control over financial
reporting based on the criteria for effective internal control over financial
reporting established in Internal Control--Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission ("COSO") and
SEC guidance on conducting such assessments. Based on that evaluation, he
concluded that, during the period covered by this report, such internal controls
and procedures were not effective to detect the inappropriate application of US
GAAP rules as more fully described below. This was due to deficiencies that
existed in the design or operation of our internal controls over financial
reporting that adversely affected our internal controls and that may be
considered to be material weaknesses.

The matters involving internal controls and procedures that our principal
executive officer and principal financial officer considered to be material
weaknesses under the standards of the Public Company Accounting Oversight Board
were: (1) lack of a functioning audit committee due to a lack of a majority of
independent members and a lack of a majority of outside directors on our board
of directors, resulting in ineffective oversight in the establishment and

monitoring of required internal controls and procedures; (2) inadequate
segregation of duties consistent with control objectives; and (3) ineffective
controls over period end financial disclosure and reporting processes. The
aforementioned material weaknesses were identified by our principal executive
officer and principal financial officer in connection with the audit of our
financial statements as of July 31, 2009.

Our principal executive officer and principal financial officer believes that
the material weaknesses set forth in items (2) and (3) above did not have an
effect on our financial results. However, our principal executive officer and
principal financial officer believes that the lack of a functioning audit
committee and the lack of a majority of outside directors on our board of
directors result in ineffective oversight in the establishment and monitoring of
required internal controls and procedures, which could result in a material
misstatement in our financial statements in future periods.

This annual report does not include an attestation report of the Company's
registered public accounting firm regarding internal control over financial
reporting. Management's report was not subject to attestation by the Company's
registered public accounting firm pursuant to temporary rules of the SEC that
permit the Company to provide only the management's report in this annual
report.

MANAGEMENT'S REMEDIATION INITIATIVES

In an effort to remediate the identified material weaknesses and other
deficiencies and enhance our internal controls, we have initiated, or plan to
initiate, the following series of measures:

We will create a position to segregate duties consistent with control objectives
and will increase our personnel resources and technical accounting expertise
within the accounting function when funds are available to us. And, we plan to
appoint one or more outside directors to our board of directors who shall be
appointed to an audit committee resulting in a fully functioning audit committee
who will undertake the oversight in the establishment and monitoring of required
internal controls and procedures such as reviewing and approving estimates and
assumptions made by management when funds are available to us.

Management believes that the appointment of one or more outside directors, who
shall be appointed to a fully functioning audit committee, will remedy the lack
of a functioning audit committee and a lack of a majority of outside directors
on our Board.

We anticipate that these initiatives will be at least partially, if not fully,
implemented by December 31, 2009. Additionally, we plan to test our updated
controls and remediate our deficiencies by July 31, 2010.

CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING

There was no change in our internal controls over financial reporting that
occurred during the period covered by this report, which has materially
affected, or is reasonably likely to materially affect, our internal controls
over financial reporting.

ITEM 9B. OTHER INFORMATION.

None.

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE EXECUTIVE
OFFICER AND DIRECTORS

Our officers and directors and their ages and positions are as follows:

Name Age Position
---- --- --------

Hossein Khakbaz Mohseni 28 President, Secretary, Treasurer and Director

Yavuz Konur 30 Chief Technical Officer and Director

MR. HOSSEIN KHAKBAZ MOHSENI

Mr. Hossein Khakbaz Mohseni has been our President, Secretary, Treasurer and a
Director since we were incorporated on March 28, 2007.

Mr. Mohseni earned his Bachelor of Commerce, Accounting & MIS (Management
Information Systems) at Langara College, in Vancouver, BC, Canada in 2001. He
has been a Certified General Accountant (CGA) in British Columbia (Canada) since
2005.

From January 2000 until February 2006, Mr. Mohseni acted as a senior accountant
for Versatech Products Inc., which has designed and manufactured oil spill
containment and recovery products for over 30 years. In his role with the
company, Mr. Mohseni managed payroll and human resources for Versatech and its
subsidiary companies, prepared financial statements and performed all accounting
related tasks for three subsidiaries of Versatech, researched and implemented
various payroll and HR programs, devised an HR intranet to make information
readily available to employees, and provided assistance to the Chief Operating
Officer and Chairman of Versatech.

Since March 2006, Mr. Mohseni has been a Business Development Manager with D.M.E
Cables FZCO, a leading supplier of cabling products in the Middle East with
headquarters in Dubai (United Arab Emirates). In this job, he has negotiated
agreements with suppliers, developed sales strategies for the Middle East &
North Africa and implemented a more efficient ERP (Enterprise Resource Planning)
and a new CRM (Customer Relationship Management) system to increase efficiency
and centralize all company data. Mr. Mohseni also has prepared the annual
financial budget, managed the Accounting and Administration Department, reviewed
the financial statements and helped set goals and objectives for the company.

MR. YAVUZ KONUR

Mr. Yavuz Konur has been our Chief Technical Officer and a Director since March
28, 2007. Mr. Yavuz Konur has nine years of experience in application and
network design, and working with leading companies in Turkey. He received his
Bachelors degree from Newport University in Istanbul in Computer Science
Engineering in 2003, and has extensive certifications in Cisco networks as well
as in-depth knowledge of various programming languages such as Visual Basic,
..Net, ASP and PHP.

From November 1998 until March 2000, Mr. Konur worked with Ericsson Turkyye in
Istanbul (Turkey) as a Network Specialist. Ericsson is a multi-national company
providing telecommunication equipments to service providers. Between March 2000
and February 2003, Mr. Konur worked as a Network Engineer with Superonline in
Istanbul, Turkey. From February 2003 until November 2006, he was a Network
Engineer with Dagon Online in Istanbul, Turkey. Dagon Online is an integrated
Internet service provider offering dial-up and high speed internet services as
well as voice over IP and web hosting.

COMMITTEES OF THE BOARD OF DIRECTORS

To date, our Board of Directors has not established a nominating and governance
committee, a compensation committee, nor an audit committee.

CODE OF ETHICS

We currently do not have a Code of Ethics.

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires our
directors, executive officers, and stockholders holding more than 10% of our
outstanding common stock, to file with the Securities and Exchange Commission
initial reports of ownership and reports of changes in beneficial ownership of
our common stock. Executive officers, directors and greater-than-10%
stockholders are required by SEC regulations to furnish us with copies of all
Section 16(a) reports they file. To our knowledge, based solely on review of the
copies of such reports furnished to us for the period ended March 31, 2009, no
Section 16(a) reports required to be filed by our executive officers, directors
and greater-than-10% stockholders were not filed on a timely basis.

ITEM 11. EXECUTIVE COMPENSATION.

The particulars of compensation paid to the following persons during the fiscal
period ended July 31, 2009 are set out in the summary compensation table below:

* our Chief Executive Officer (Principal Executive Officer);
* our Chief Financial Officer (Principal Financial Officer);
* each of our three most highly compensated executive officers, other
than the Principal Executive Officer and the Principal Financial
Officer, who were serving as executive officers at the end of the
fiscal year ended July 31, 2009; and
* up to two additional individuals for whom disclosure would have been
provided under the item above but for the fact that the individual was
not serving as our executive officer at the end of the fiscal year
ended July 31, 2009;

(collectively, the "Named Executive Officers"):

SUMMARY COMPENSATION TABLE

Non-Equity Nonqualified
Incentive Deferred
Fiscal Year Stock Option Plan Compensation All Other
Ended Salary Bonus Awards Awards Compensation Earnings Compensation Total
Name July 31, ($) ($) ($) ($) ($) ($) ($) ($)
- ---- ----- ------ ----- ------ ------ ------------ -------- ------------ -----

Mr. Hossein Khakbaz 2009 0 0 0 0 0 0 0 0
Mohseni (1) 2008 0 0 0 0 0 0 0 0

Mr. Yavuz Konur (2) 2009 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0

Notes:

(1) Mr. Mohseni has been our President, Secretary, and Treasurer (Principal
Executive Officer and Principal Financial Officer), and a Director since we
were incorporated on March 28, 2007.
(2) Mr. Konur has been our Chief Technical Officer and Director since we were
incorporated on March 28, 2007.

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END

Option Awards Stock Awards
----------------------------------------------------------------- -------------------------------------------------
Equity
Incentive
Equity Plan
Incentive Awards:
Plan Market or
Awards: Payout
Equity Number of Value of
Incentive Number Unearned Unearned
Plan Awards; of Market Shares, Shares,
Number of Number of Number of Shares Value of Units or Units or
Securities Securities Securities or Units Shares or Other Other
Underlying Underlying Underlying of Stock Units of Rights Rights
Unexercised Unexercised Unexercised Option Option That Stock That That That
Options Options Unearned Exercise Expiration Have Not Have Not Have Not Have Not
Name Exercisable(#) Unexercisable(#) Options(#) Price($) Date Vested(#) Vested($) Vested(#) Vested($)
- ---- -------------- ---------------- ---------- ----- ---- --------- --------- --------- ---------

Mr. Hossein -- -- -- -- -- -- -- -- --
Khakbaz
Mohseni

Mr. Yavuz -- -- -- -- -- -- -- -- --
Konur

OPTION GRANTS AND EXERCISES

There were no option grants or exercises by any of the executive officers named
in the Summary Compensation Table above.

EMPLOYMENT AGREEMENTS

We have not entered into employment and/or consultant agreements with our
Directors and officers.

COMPENSATION OF DIRECTORS

All directors receive reimbursement for reasonable out-of-pocket expenses in
attending board of directors meetings and for promoting our business. From time
to time we may engage certain members of the board of directors to perform
services on our behalf. In such cases, we compensate the members for their
services at rates no more favorable than could be obtained from unaffiliated
parties. Our directors have not received any compensation for the fiscal year
ended July 31, 2009.

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

BENEFICIAL OWNERSHIP OF HOLDINGS

The table below sets forth the number and percentage of shares of our common
stock owned as of October 26, 2009, by the following persons: (i) stockholders
known to us who own 5% or more of our outstanding shares, (ii) each of our
Directors, and (iii) our officers and Directors as a group. Unless otherwise
indicated, each of the stockholders has sole voting and investment power with
respect to the shares beneficially owned.

Name and Address of Amount and Nature Percentage of
Title of Class Beneficial Owner((2)) of Beneficial Ownership Class (1)
- -------------- --------------------- ----------------------- ---------

Common Stock Mr. Hossein Khakbaz Mohseni 800,000 31.7%

Common Stock Mr. Yavuz Konur 800,000 31.7%

all officers as a Group 1,600,000 63.4%

- ----------
(1) Based on 2,525,000 shares of our common stock outstanding.

CHANGES IN CONTROL

There are no existing arrangements that may result in a change in control of the
Company.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS.

The following table sets forth information regarding our equity compensation
plans.

Number of Securities to be Number of Securities
Issued Upon Exercise of Weighted-Average Exercise Remaining Available for
Outstanding Options, Price of Outstanding Options, Future Issuance Under
Warrants and Rights Warrants and Rights Equity Compensation Plans
Plan Category (a) (b) (excluding column (a))
------------- ------------------- ------------------- -------------------------

Equity Compensation Plans -- -- --
Approved by Security
Holders

Equity Compensation Plans Not -- -- --
Approved by Security Holders

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE

Other than the transactions discussed below, we have not entered into any
transaction nor are there any proposed transactions in which any of our
Directors, executive officers, stockholders or any member of the immediate
family of any of the foregoing had or is to have a direct or indirect material
interest.

On July 6, 2007, we sold 800,000 shares of our common stock to Mr. Mohseni for
cash payment to us of $10,000. We believe this issuance was deemed to be exempt
under Regulation S of the Securities Act. No advertising or general solicitation
was employed in offering the securities. The offerings and sales were made only
to non-U.S. citizens, and transfer was restricted by us in accordance with the
requirements of the Securities Act of 1933.

On July 6, 2007, we sold 800,000 shares of our common stock to Mr. Yavuz Konur,
our Chief Technical Officer and Director, for cash payment to us of $10,000. We
believe this issuance was deemed to be exempt under Regulation S of the
Securities Act. No advertising or general solicitation was employed in offering
the securities. The offerings and sales were made only to non-U.S. citizens, and
transfer was restricted by us in accordance with the requirements of the
Securities Act of 1933.

On June 1, 2009, an officer, Director and stockholder of the Company loaned
$1,000 to the Company for working capital purposes. The loan is unsecured,
non-interest bearing, and has no specific terms of repayment.

On August 6, 2009, an officer, Director and stockholder of the Company loaned
$9,761 to the Company for working capital purposes. The loan is unsecured,
non-interest bearing, and has no specific terms of repayment.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

AUDIT FEES

For the year ended July 31, 2009, Davis Accounting Group P.C. billed us for
$3,500 in audit fees.

REVIEW FEES

Davis Accounting Group P.C. billed us $5,000 for reviews of our quarterly
financial statements in 2009 that are not reported under Audit Fees above.

TAX AND ALL OTHER FEES

We did not pay any fees to Davis Accounting Group P.C. for tax compliance, tax
advice, tax planning or other work during our fiscal year ended July 31, 2009

PRE-APPROVAL POLICIES AND PROCEDURES

We have implemented pre-approval policies and procedures related to the
provision of audit and non-audit services. Under these procedures, our board of
directors pre-approves all services to be provided by Davis Accounting Group
P.C. and the estimated fees related to these services.

PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

Exhibit Description
- ------- -----------

3.1 Articles of Incorporation. (Attached as an exhibit to our
Registration Statement on Form SB-2 originally filed with the SEC
on November 13, 2007 and incorporated herein by reference.)

3.2 Bylaws. (Attached as an exhibit to our Registration Statement on
Form SB-2 originally filed with the SEC on November 13, 2007 and
incorporated herein by reference.)

31.1 Certification of Hossein Khakbaz Mohseni pursuant to Rule
13a-14(a).

32.1 Certification of Hossein Khakbaz Mohseni pursuant to 18 U.S.C
Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.

SIGNATURES

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

QUUIBUS TECHNOLOGY, INC.

By: /s/ Hossein Khakbaz Mohseni
---------------------------------------------
Hossein Khakbaz Mohseni
President, Treasurer, Secretary and Director
(Principal Executive and Principal Financial
Officer)

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

Signatures Title Date
---------- ----- ----

/s/ Hossein Khakbaz Mohseni President, Treasurer, Secretary, and Director November 4, 2009
- ------------------------------- (Principal Executive and Principal Financial Officer)
Hossein Khakbaz Mohseni

/s/ Yavuz Konur CTO and Director November 4, 2009
- -------------------------------
Yavuz Konur