FORM 10-Q

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2009

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission file number: 000-53381

Universal Acquisitions Corp.

(Exact name of registrant as specified in its charter)

Delaware		30–0468712
(State or other jurisdiction		(I.R.S. Employer Identification Number)
of incorporation or organization)

133-47 Sanford Avenue, #PHE, Flushing, NY 11355

(Address of principal executive offices)

(718) 359-8008

(Registrant’s telephone number, including area code)

No change

(Former name, former address and former fiscal year, if changed since last report)

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

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

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 Exchange Act). Yes x No ¨.

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING

THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ¨ No ¨.

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 6,000,000 shares of common stock, par value $.0001 per share, outstanding as of May 20, 2009.

UNIVERSAL ACQUISITIONS CORP.

- INDEX -

		Page
PART I – FINANCIAL INFORMATION:

Item 1.	Financial Statements:

	Balance Sheets as of March 31, 2009 (Unaudited) and December 31, 2008	1

	Statements of Operations (Unaudited) for the Three Months Ended March 31, 2009 and 2008 and for the Cumulative Period from January 22, 2008 (Inception) to March 31, 2009	2

	Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2009 and 2008 and for the Cumulative Period from January 22, 2008 (Inception) to March 31, 2009	3

	Statements of Stockholders’ Equity (Deficit) for the Three Months Ended March 31, 2009	4

	Notes to Financial Statements	5

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	12

Item 4T.	Controls and Procedures	13

PART II – OTHER INFORMATION:

Item 1.	Legal Proceedings	13

Item 1A.	Risk Factors	13

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	13

Item 3.	Defaults Upon Senior Securities	13

Item 4.	Submission of Matters to a Vote of Security Holders	13

Item 5.	Other Information	13

Item 6.	Exhibits	14

Signatures		15

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

BALANCE SHEETS

	Unaudited			Audited
	March 31, 2009			December 31, 2008
ASSETS

Current Assets
Cash	$	6,337		$	1,924
Total Current Assets	$	6,337		$	1,924

LIABILITIES & STOCKHOLDERS' EQUITY

LIABILITIES
Accounts Payable	$	-		$	-
Loan Payable (From Director)	$	-		$	-

Total Current Liabilities	$	-		$	-

Stockholders' Equity
Preferred stock: $0.0001 par value; 10,000,000 shares authorized, none issued and outstanding	$	-		$	-
Common stock; $0.0001 par value; 100,000,000 shares authorized, 6,000,000 issued and outstanding @ March 31, 2009	$	600		$	600
Additional Paid-in Capital	$	51,903		$	36,353
Deficit accumulated during development stage	$	(46,166	)	$	(35,029	)

Total Stockholders' Equity	$	6,337		$	1,924

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	6,337		$	1,924

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

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months			Three Months		January 22, 2008(Inception)
	Ending			Ending		Through
	March 31, 2009			March 31, 2008		March 31, 2009
REVENUES
Revenues	$	-		$	-	$	-
Total Revenues	$	-		$	-	$	-

Operating Expense
Administrative Expense	$	3,887		$	-	$	4,564
Professional Services	$	7,250		$	-	$	41,602

Loss before income tax expense	$	(11,137	)	$	-	$	(46,166	)
Income tax expense		-			-		-
Net loss	$	(11,137	)	$	-	$	(46,166	)
Basic earnings per share	$	(0.01	)	Nil

Weighted average number of common shares outstanding		6,000,000			6,000,000

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

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months			Three Months		January 22, 2008(Inception)
	Ending			Ended		Through
	March 31, 2009			March 31, 2008		March 31, 2009

CASH FLOW FROM OPERATING ACTIVITIES
Net income (loss)	$	(11,137	)	$	-	$	46,166
Accounts Payable	$	-		$	-	$	-
Total cash provided by (used in) operating activities	$	(11,137	)	$	-	$	46,166

CASH FLOW FROM INVESTING ACTIVITIES
Net cash provided by (used in) investing activities	$	-		$	-	$	-
Total cash provided by (used in) investing activities	$	-		$	-	$	-

CASH FLOW FROM FINANCING ACTIVITIES
Contributed Capital	$	15,550		$	-	$	51,903
Issuance of Common Stock	$	-		$	-	$	600
Total cash provided by (used in financing activities)	$	15,550		$	-	$	52,503

Net increase (decrease) in cash	$	4,413		$	-	$	6,337

Cash at beginning of period	$	1,924		$	-	$	-

Cash at end of period	$	6,337		$	-	$	6,337

Supplemental Cash Flow Disclosures:

Cash paid during period for interest	$	-		$	-	$	-
Cash paid during period for taxes	$	-		$	-	$	-

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

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

			Common		Additional		Deficit Accum
	Common		Stock		Paid-in		During
	Stock		Amount		Capital		Dev Stage			Total

Stock issued for cash January 22,2008 at par value of $0.0001 per share		6,000,000	$	600	$	20,400				$	21,000
Contributed Capital August 14, 2008
through November 26, 2008					$	15,953				$	15,953
Net (loss) for the year 2008								(35,029	)		(35,029	)
Balance December 31, 2008		6,000,000	$	600	$	36,353	$	(35,029	)	$	1,924
Contributed Capital January 23, 2009
through March 19, 2009					$	15,550				$	15,550
Net(loss) 3 months ended March 31,2009							$	(11,137	)	$	(11,137	)
Balance March 31, 2009		6,000,000	$	600	$	51,903	$	(46,166	)	$	6,337

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

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

Notes to Financial Statements

March 31, 2009

NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

Universal Acquisitions Corp. (the “Company”) was incorporated under the laws of the State of Delaware on January 22, 2008. The Company is in the development stage. Its activities to date have been limited to capital formation, organization, and development of its business plan.

The Company intends to explore various business opportunities that have the potential to generate positive revenue, profits and cash flow in order to financially accommodate the costs of being a publicly held company.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of Accounting

The Company’s financial statements are prepared using generally accepted accounting principles.

The Company has elected a fiscal year end of December 31.

b. Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

c. Advertising Costs

The Company’s policy regarding advertising is to expense it when incurred. The Company has not incurred any advertising expense as of March 31, 2009.

d. Revenue Recognition

The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured.

e. Comprehensive Income

The Company has no component of other comprehensive income. Accordingly, net income equals comprehensive income for the period ending March 31, 2009.

f. Income Taxes

Income taxes are provided in accordance with Statement of Financial Accounting Standards No. 109 (SFAS 109), Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry-forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

Notes to Financial Statements

March 31, 2009

g. Basic Earnings (Loss) per Share

In February 1997, the FASB issued SFAS No. 128, “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. SFAS No. 128 supersedes the provisions of APB No. 15, and requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of SFAS No. 128 effective January 22, 2008 (inception).

Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

h. Use of Estimates and Assumptions

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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with FASB 16 all adjustments are normal and recurring.

i. Recent Accounting Pronouncements

In June 2008, the FASB issued FASB Staff Position EITF 03-6-1, Determining Whether Instruments Granted in Share Based Payment Transactions are Participating Securities, (“FSP EITF 03-6-1”). FSP EITF 03-6-1 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and therefore need to be included in the computation of earnings per share under the two-class method as described in FASB Statement of Financial Accounting standards No. 128 “Earnings per Share.” FSP EITF 03-6-1 is effective for financial statements issued for fiscal years beginning on or after December 15, 2008 and earlier adoption is prohibited. We are not required to adopt FSP EITF 03-6-1; neither do we believe that FSP EITF 03-6-1 would have a material effect on our consolidated financial position and results of operations if adopted.

In May 2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 163, “Accounting for Financial Guarantee Insurance Contracts – An interpretation of FASB Statement No. 60”. SFAS 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 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement to be used to account for premium revenue and claim liabilities, and requires expanded disclosures about financial guarantee insurance contracts. It is effective for financial statements issued for fiscal years beginning after December 15, 2008, except for some disclosures about the insurance enterprise’s risk-management activities. SFAS 163 requires that disclosures about the risk-management activities of the insurance enterprise be effective for the first period beginning after issuance. Except for those disclosures, earlier application is not permitted. The adoption of this statement is not expected to have a material effect on the Company’s financial statements.

In May 2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted Accounting Principles”. SFAS 162 identifies the sources of accounting principles and the framework for selecting the principles to be used in the preparation of financial statements of nongovernmental entities that are presented in conformity with generally accepted accounting principles in the United States. It is effective 60 days following the SEC’s approval of the Public Company Accounting Oversight Board amendments to AU Section 411, “The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles”. The adoption of this statement is not expected to have a material effect on the Company’s financial statements.

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

Notes to Financial Statements

March 31, 2009

In March 2008, FASB issued SFAS No. 161, “Disclosures about Derivative Instruments and Hedging Activities – an amendment to FASB Statement No. 133”. SFAS No. 161 is intended to improve financial standards for derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity's financial position, financial performance, and cash flows. Entities are required to provide enhanced disclosures about: (a) how and why an entity uses derivative instruments; (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations; and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. It is effective for financial statements issued for fiscal years beginning after November 15, 2008, with early adoption encouraged.

The Company is currently evaluating the impact of SFAS No. 161 on its financial statements, and the adoption of this statement is not expected to have a material effect on the Company’s financial statements.

In December 2007, the FASB issued SFAS No. 141R, “Business Combinations”. This statement replaces SFAS 141 and defines the acquirer in a business combination as the entity that obtains control of one or more businesses in a business combination and establishes the acquisition date as the date that the acquirer achieves control. SFAS 141R requires an acquirer to recognize the assets acquired, the liabilities assumed, and any non-controlling interest in the acquired at the acquisition date, measured at their fair values as of that date. SFAS 141R also requires the acquirer to recognize contingent consideration at the acquisition date, measured at its fair value at that date. This statement is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008. Earlier adoption is prohibited. The adoption of this statement is not expected to have a material effect on the Company's financial statements.

In December 2007, the FASB issued SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements Liabilities –an Amendment of ARB No. 51”. This statement amends ARB 51 to establish accounting and reporting standards for the Non-controlling interest in a subsidiary and for the deconsolidation of a subsidiary. This statement is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008. Earlier adoption is prohibited. The adoption of this statement is not expected to have a material effect on the Company's financial statements.

NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $46,166 during the period from January 22, 2008 (inception) through March 31, 2009. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 4. WARRANTS AND OPTIONS

There are no warrants or options outstanding to acquire any additional shares of common.

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

Notes to Financial Statements

March 31, 2009

NOTE 5. RELATED PARTY TRANSACTION

The Company neither owns nor leases any real or personal property. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities as they become available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

NOTE 6. NET OPERATING LOSSES

As of March 31, 2009 the Company has a net operating loss carry-forward of approximately $46,166. Net operating loss carry-forward, expires twenty years from the date the loss was incurred.

NOTE 7. INCOME TAXES

	As of March 31, 2009			As of December 31, 2008

Deferred tax assets:
Net operating tax carry-forwards	$	1,671		$	5,254
Other		-0-			-0-
Gross deferred tax assets		(1,671	)		(5,254	)
Valuation allowance

Net deferred tax assets	$	-0-		$	-0-

Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.

NOTE 8. STOCK TRANSACTIONS

Transactions, other than employees’ stock issuance, are in accordance with paragraph 8 of SFAS 123. Thus issuances shall be accounted for based on the fair value of the consideration received. Transactions with employees’ stock issuance are in accordance with paragraphs (16-44) of SFAS 123. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, or whichever is more readily determinable.

On January 22, 2008 the Company issued 1,000,000 shares of common stock to a director for cash valued at $0.0001 per share.

On January 22, 2008 the Company issued 5,000,000 shares of common stock to 5 investors for cash valued at $0.0001 per share.

As of March 31, 2009 the Company had 6,000,000 shares of common stock issued and outstanding.

UNIVERSAL ACQUISITIONS CORP.

(A Development Stage Company)

Notes to Financial Statements

March 31, 2009

NOTE 9. STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of March 31, 2009.

Common stock, $ 0.0001 par value: 1,000,000 shares authorized; 6,000,000 shares issued and outstanding.

Preferred stock, $ 0.0001 par value: 10,000,000 shares authorized; none issued.

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

Forward Looking Statement Notice

Certain statements made in this Quarterly Report on Form 10-Q are “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) in regard to the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Universal Acquisitions Corp. (“we”, “us”, “our” or the “Company”) to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this Quarterly Report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

Description of Business

The Company was incorporated in the State of Delaware on January 22, 2008 and maintains its principal executive office at 133-47 Sanford Avenue, #PHE, Flushing, NY 11355. Since inception, the Company has been engaged in organizational efforts and obtaining initial financing. The Company was formed as a vehicle to pursue a business combination through the acquisition of, or merger with, an operating business. The Company filed a registration statement on Form 10-SB with the U.S. Securities and Exchange Commission (the “SEC”) on August 19, 2008, and since its effectiveness, the Company has focused its efforts to identify a possible business combination.

The Company, based on proposed business activities, is a “blank check” company. The SEC defines those companies as "any development stage company that is issuing a penny stock, within the meaning of Section 3(a)(51) of the Securities Exchange Act 1934, as amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies." Many states have enacted statutes, rules and regulations limiting the sale of securities of "blank check" companies in their respective jurisdictions. The Company is also a “shell company,” defined in Rule 12b-2 under the Exchange Act as a company with no or nominal assets (other than cash) and no or nominal operations. Management does not intend to undertake any efforts to cause a market to develop in our securities, either debt or equity, until we have successfully concluded a business combination. The Company intends to comply with the periodic reporting requirements of the Exchange Act for so long as we are subject to those requirements.

The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company’s principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with an operating business. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

The Company currently does not engage in any business activities that provide cash flow. During the next twelve months we anticipate incurring costs related to:

(i)

filing Exchange Act reports, and

(ii)

investigating, analyzing and consummating an acquisition.

We believe we will be able to meet these costs through use of funds in our treasury, through deferral of fees by certain service providers and additional amounts, as necessary, to be loaned to or invested in us by our stockholders, management or other investors.

The Company may consider acquiring a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital but which desires to establish a public trading market for its shares while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

Since our Registration Statement on Form 10-SB went effective, our management has had contact and discussions with representatives of other entities regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

The Company anticipates that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital which we will have and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur 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.

Liquidity and Capital Resources

As of March 31, 2009, the Company had current assets equal to $6,337, comprised exclusively of cash. This compares with the Company’s assets of December 31, 2008 equal to $1,924. The Company’s current liabilities as of March 31, 2009 totaled $0. This compares with the Company’s current liabilities of $0, as of December 31, 2008. The Company can provide no assurance that it can continue to satisfy its cash requirements for at least the next twelve months.

The following is a summary of the Company's cash flows provided by (used in) operating, investing, and financing activities for the three months ended March 31, 2009 and for the Cumulative period from January 22, 2008 (Inception) to March 31, 2009:

	Three Months Ended March 31, 2009			Three Months Ended March 31, 2008		For the Cumulative Period from January 22, 2008 (Inception) to March 31, 2009
Net Cash (Used in) Operating Activities	$	(11,137	)	$	-	$	46,166
Net Cash (Used in) Investing Activities	$	-		$	-	$	-
Net Cash Provided by Financing Activities	$	15,550		$	-	$	52,503
Net Increase (Decrease) in Cash and Cash Equivalents	$	4,413		$	-	$	6,337

The Company has nominal assets and has generated no revenues since inception. The Company is also dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.

Results of Operations

The Company has not conducted any active operations since inception, except for its efforts to locate suitable acquisition candidates. No revenue has been generated by the Company from January 22, 2008 (Inception) to March 31, 2009. It is unlikely the Company will have any revenues unless it is able to effect an acquisition or merger with an operating company, of which there can be no assurance. It is management's assertion that these circumstances may hinder the Company's ability to continue as a going concern. The Company’s plan of operation for the next twelve months shall be to continue its efforts to locate suitable acquisition candidates.

For the three months ended March 31, 2009, the Company had a net loss of $11,137, consisting of legal, accounting, audit, and other professional service fees incurred in relation to the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. This compares with a net loss of $0, for the three months ended March 31, 2008.

For the period from January 22, 2008 (Inception) to March 31, 2009, the Company had a net loss of $46,166, comprised exclusively of administrative, legal, accounting, audit, and other professional service fees incurred in relation to the formation of the Company, the filing of the Company’s Registration Statement on Form 10-SB in August of 2008 and the filing of the Company’s Quarterly reports on Form 10-Q and Annual Report Form 10-K.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contractual Obligations

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

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

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

Item 4T. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed pursuant to the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules, regulations and related forms, and that such information is accumulated and communicated to our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

As of March 31, 2009, we carried out an evaluation, under the supervision and with the participation of our principal executive officer and our principal financial officer of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Controls

There have been no changes in our internal controls over financial reporting during the quarter ended March 31, 2009 that have materially affected or are reasonably likely to materially affect our internal controls.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

To the best knowledge of our officers and directors, the Company is not a party to any legal proceeding or litigation.

Item 1A. Risk Factors.

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

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

None.

Item 3. Defaults Upon Senior Securities.

None.

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

None.

Item 5. Other Information.

None.

Item 6. Exhibits.

(a) Exhibits required by Item 601 of Regulation S-K.

Exhibit			Description

*3.1			Certificate of Incorporation, as filed with the Delaware Secretary of State on January 22, 2008.

*3.2			By-Laws.

31.1			Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009.

31.2			Certification of the Company’s Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009.

32.1			Certification of the Company’s Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2			Certification of the Company’s Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

*	Filed as an exhibit to the Company's Registration Statement on Form 10-SB, as filed with the SEC on August 19, 2008, and incorporated herein by this reference.

SIGNATURES

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

Dated: May 20, 2009	UNIVERSAL ACQUISITIONS CORP.

	By:	/s/ Anna Lo
		Anna Lo
		President and Director
		Principal Executive Officer
		Principal Financial Officer
		Principal Accounting Officer

Universal Acquisitions Corp./DE 10-Q