UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________

FORM 10-Q

_______________

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

For the quarterly period ended ~~March~~June 3130, 2010

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

For the transition period from ______to______.

Chardan Acquisition Corp.

(Exact name of ~~registrant~~Company as specified in Charter)

Nevada	000-53465
British Virgin Islands	000-53465
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(IRS Employee Identification No.)

17c/o ~~State~~Codan ~~Street,~~Trust ~~Suite~~Company ~~1600~~(B.V.I.) Ltd.

~~New~~P.O. ~~York~~Box 3140, NYRomasco ~~10004~~Place Wickhmans Cay 1

Road Town, Tortola

British Virgin Islands VG1110

(Address of Principal Executive Offices)

_______________

(646)465-9067

(Issuer Telephone number)

_______________

17 State Street, Suite 1600

New York, NY 10004

(Former Name or Former Address if Changed Since Last Report)

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.

Yes x No ¨

Indicate by check mark whether the ~~registrant~~Company 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~~Company was required to submit and post such files).

Yes ¨ No ¨

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

Large Accelerated Filer ¨ Accelerated Filer ¨ Non-Accelerated Filer ¨ Smaller Reporting Company x

Indicate by check mark whether the ~~registrant~~Company is a shell company as defined in Rule 12b-2 of the Exchange Act.

Yes x No ¨

State the number of shares outstanding of each of the issuer’s classes of common equity, as of ~~March~~August 3119, 2010: 1 50,~~360,000shares~~000 shares of common stock.

Chardan Acquisition Corp.

FORM 10-Q

~~March~~June 3130, 2010

INDEX

PART I-- FINANCIAL INFORMATION

Item 1.	Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3	Quantitative and Qualitative Disclosures About Market Risk	13
Item 4T.	~~Control~~Controls and Procedures	13

PART II-- OTHER INFORMATION

Item 1	Legal Proceedings	1314
Item 1A.	Risk Factors	1314
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	1314
Item 3.	Defaults Upon Senior Securities	1314
Item 4.	(Removed and Reserved)	1314
Item 5.	Other Information	14
Item 6.	Exhibits ~~and Reports of Form 8-K~~	14

SIGNATURE

Item 1. Financial Information

CHARDAN ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

CONTENTS

PAGE	1	CONDENSED BALANCE SHEETS AS OF ~~MARCH~~JUNE 3130, 2010 (UNAUDITED) AND AS OF SEPTEMBER 30, 2009.
PAGE	2	CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND ~~SIX~~NINE MONTHS ENDED ~~MARCH~~JUNE 3130, 2010 AND 2009 AND FOR THE PERIOD FROM SEPTEMBER 26, 2008 (INCEPTION) TO ~~MARCH~~JUNE 3130, 2010 (UNAUDITED).
PAGE	3	CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’ DEFICIENCY FOR THE PERIOD FROM SEPTEMBER 26, 2008 (INCEPTION) TO ~~MARCH~~JUNE 3130, 2010 (UNAUDITED)
PAGE	4	CONDENSED STATEMENTS OF CASH FLOWS FOR THE ~~SIX~~NINE MONTHS ENDED ~~MARCH~~JUNE 3130, 2010 AND 2009 AND FOR THE PERIOD FROM SEPTEMBER 26, 2008 (INCEPTION) TO ~~MARCH~~JUNE 3130, 2010 (UNAUDITED).
PAGES	5 - 9	NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED).

Chardan Acquisition Corp.
(A Development Stage Company)
Condensed Balance Sheets
ASSETS
		March 31, 2010				September 30, 2009
	June 30, 2010				September 30, 2009
	(Unaudited)	~~(Unaudited)~~
Total Assets		$	-			$	-
Current Assets
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Prepaid Expense	$	1,515			$	-
Current Liabilities
Total Assets	$	1,515			$	-
Accounts payable		$	949			$	8,411
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Loans payable - Related party			19,984				4,065
Current Liabilities
Total Liabilities			20,933				12,476
Accounts payable	$	750			$	8,411
Commitments and Contingencies
Note payable - related party		33,688				4,065
Stockholders' Deficiency
Total Liabilities		34,438				12,476
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, none issued and
Commitments and Contingencies
outstanding			-				-
Stockholders' Deficiency
Common stock, $0.0001 par value; 100,000,000 shares authorized, 1,360,000 shares
Common stock, no par value; 50,000 shares authorized, 50,000
and 1,360,000 issued and outstanding, respectively			136				136
and 50,000 shares issued and outstanding, respectively		31,499				23,010
Additional paid-in capital			28,385				22,874
Deficit accumulated during the development stage		(64,422	)			(35,486	)
Deficit accumulated during the development stage			(49,454	)			(35,486	)
Total Stockholders' Deficiency		(32,923	)			(12,476	)
Total Stockholders' Deficiency			(20,933	)			(12,476	)
Total Liabilities and Stockholders' Deficiency	$	1,515			$	-
Total Liabilities and Stockholders' Deficiency		$	-			$	-

See accompanying notes to condensed unaudited financial statements

-1-

Chardan Acquisition Corp.
(A Development Stage Company)
Condensed Statements of Operations
(Unaudited)
	For the Three Months Ended			For the Three Months Ended			For the ~~Six~~Nine Months Ended			For the ~~Six~~Nine Months Ended			For the Period from September 26, 2008(Inception) to
	March 31, 2010			March 31, 2009			March 31, 2010			March 31, 2009			(Inception) to March 31, 2010
	June 30, 2010			June 30, 2009			June 30, 2010			June 30, 2009			June 30, 2010
Operating Expenses
Professional fees	$	610,~~679~~540		$	~~825~~4,950		$	717,~~129~~669		$	1318,~~844~~794		$	3041,~~533~~073
General and administrative		34,~~853~~050			23,~~625~~679			610,~~528~~578			59,~~793~~472			1822,~~610~~660
Total Operating Expenses		1014,~~532~~590			38,~~450~~629			1328,~~657~~247			1928,~~637~~266			4963,~~143~~733
Loss from Operations		(1014,~~532~~590	)		(38,~~450~~629	)		(1328,~~657~~247	)		(1928,~~637~~266	)		(4963,~~143~~733	)
Other Expenses
Interest Expense		(~~311~~378	)		-			(~~311~~689	)		-			(~~311~~689	)
LOSS FROM OPERATIONS BEFORE INCOME TAXES		(1014,~~843~~968	)		(38,~~450~~629	)		(1328,~~968~~936	)		(1928,~~637~~266	)		(4964,~~454~~422	)
Provision for Income Taxes		-			-			-			-			-
NET LOSS	$	(1014,~~843~~968	)	$	(38,~~450~~629	)	$	(1328,~~968~~936	)	$	(1928,~~637~~266	)	$	(4964,~~454~~422	)
Net Loss Per Share - Basic and Diluted	$	(0.0130	)	$	(0.0017	)	$	(0.0158	)	$	(0.0264	)
Weighted average number of shares outstanding
Weighted average number of shares outstanding during the period - Basic and Diluted		50,000			50,000			50,000			44,493
during the period - Basic and Diluted		1,360,000			1,360,000			1,360,000			1,123,315

Chardan Acquisition Corp.
(A Development Stage Company)
Condensed Statement of Stockholders' Deficiency
For the Period from September 26, 2008 (Inception) to March 31, 2010
(Unaudited)
											Deficit
	Preferred stock				Common stock				Additional		accumulated during			Total
									paid-in		development			Stockholders'
	Shares		Amount		Shares		Amount		capital		stage			Deficiency
Balance, September 26, 2008 (inception)		-	$	-		-	$	-	$	-	$	-		$	-
Common stock issued for services to founder ($0.0001/Sh)		-		-		100,000		10		-		-			10
Net loss for the period September 26, 2008 (inception) to September 30, 2008		-		-		-		-		-		(1,510	)		(1,510	)
Balance, September 30, 2008		-		-		100,000		10		-		(1,510	)		(1,500	)
Common stock issued for cash		-		-		1,260,000		126		12,474		-			12,600
In kind contribution of services		-		-		-		-		10,400		-			10,400
Net loss for the period ended September 30, 2009		-		-		-		-		-		(33,976	)		(33,976	)
Balance, September 30, 2009		-		-		1,360,000		136		22,874		(35,486	)		(12,476	)
In kind contribution of services		-		-		-		-		5,200		-			5,200
In kind contribution of interest		-		-		-		-		311		-			311
Net loss for the six months ended March 31, 2010		-		-		-		-		-		(13,968	)		(13,968	)
Balance, March 31, 2010		-	$	-		1,360,000	$	136	$	28,385	$	(49,454	)	$	(20,933	)

See accompanying notes to condensed unaudited financial statements

3-2-

Chardan Acquisition Corp.
(A Development Stage Company)
Condensed Statements of Cash Flows
Condensed Statement of Stockholders' Deficiency
(Unaudited)
For the Period from September 26, 2008 (Inception) to June 30, 2010
	For the Six Months Ended			For the Six Months Ended			For the Period from September 26, 2008
(Unaudited)
	March 31, 2010			March 31, 2009			(inception) to March 31, 2010
							Deficit
Cash Flows Used In Operating Activities:
	Common stock						accumulated during			Total
Net Loss	$	(13,968	)	$	(19,637	)	$	(49,454	)
							development			Stockholders'
Adjustments to reconcile net loss to net cash used in operations
	Shares			Amount			stage			Deficiency
Common stock issued for services		-			-			10
Balance, September 26, 2008 (Inception)		-		$	-		$	-		$	-
In-kind contribution of interest		311						311
Common stock issued for services to founder ($0.0027/Sh)		3,676			10			-			10
In-kind contribution of services		5,200			5,200			15,600
Net loss for the period September 26, 2008 (inception) to September 30, 2008		-			-			(1,510	)		(1,510	)
Changes in operating assets and liabilities:
Balance, September 30, 2008		3,676			10			(1,510	)		(1,500	)
Increase in accounts payable		(7,462	)		1,837			949
Common stock issued for cash ($0.27/Sh)		46,324			12,600			-			12,600
Net Cash Used In Operating Activities		(15,919	)		(12,600	)		(32,584	)
In-kind contribution of services		-			10,400			-			10,400
Cash Flows From Financing Activities:
Net loss for the period ended September 30, 2009		-			-			(33,976	)		(33,976	)
Proceeds from loan payable- related party		15,919			-			19,984
Balance, September 30, 2009		50,000			23,010			(35,486	)		(12,476	)
Proceeds from issuance of common stock		-			12,600			12,600
In-kind contribution of services		-			7,800			-			7,800
Net Cash Provided by Financing Activities		15,919			12,600			32,584
In-kind contribution of interest		-			689			-			689
Net Increase in Cash		-			-			-
Net loss for the nine months ended June 30, 2010		-			-			(28,936	)		(28,936	)
Cash at Beginning of Period		-			-			-
Balance, June 30, 2010		50,000		$	31,499		$	(64,422	)	$	(32,923	)
Cash at End of Period	$	-		$	-		$	-
Supplemental disclosure of cash flow information:
Cash paid for interest	$	-		$	-		$	-
Cash paid for taxes	$	-		$	-		$	-

See accompanying notes to condensed unaudited financial statements

4-3-

Chardan Acquisition Corp.
(A Development Stage Company)
Condensed Statements of Cash Flows
(Unaudited)



	For the Nine Months Ended			For the Nine Months Ended			For the Period from September 26, 2008(Inception) to
	June 30, 2010			June 30, 2009			June 30, 2010


Cash Flows Used In Operating Activities:
Net Loss	$	(28,936	)	$	(28,266	)	$	(64,422	)
Adjustments to reconcile net loss to net cash used in operations
Common stock issued for services		-			-			10
In-kind contribution of interest		689						689
In-kind contribution of services		7,800			7,800			18,200
Changes in operating assets and liabilities:
Increase in preapid expenses		(1,515	)		-			(1,515	)
Increase in accounts payable		(7,661	)		3,800			750
Net Cash Used In Operating Activities		(29,623	)		(16,666	)		(46,288	)

Cash Flows From Financing Activities:
Proceeds from loan payable- related party		29,623			4,066			33,688
Proceeds from issuance of common stock		-			12,600			12,600
Net Cash Provided by Financing Activities		29,623			16,666			46,288

Net Increase in Cash		-			-			-

Cash at Beginning of Period		-			-			-

Cash at End of Period	$	-		$	-		$	-

Supplemental disclosure of cash flow information:

Cash paid for interest	$	-		$	-		$	-
Cash paid for taxes	$	-		$	-		$	-

See accompanying notes to condensed unaudited financial statements

-4-

CHARDAN ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2010

(UNAUDITED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

(A) Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in The United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

It is management's opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year.

Activities during the development stage include developing the business plan and raising capital.

Effective May 25, 2010, the Company’s domicile was changed from the State of Nevada to the Territory of the British Virgin Islands (“BVI”) through a re-registration and continuation process (the “Redomestication”).

(B) Use of Estimates

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates.

The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At ~~March~~June 3130, 2010 and September 30, 2009, respectively, the Company had no cash equivalents.

(D) Loss Per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB Accounting Standards Codification Topic 260, “Earnings Per Share.” As of ~~March~~June 3130, 2010 and 2009, respectively, there were no common share equivalents outstanding.

-5-

CHARDAN ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2010

(UNAUDITED)

(E) Income Taxes

In the BVI, there are no income or other business taxes applicable to the Company. However, the facts and circumstances of the Redomestication are such that Company management believes the Company remains subject to the continuing tax jurisdiction of the United States and accruals of tax reflect that assumption. The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

(F) Business Segments

The Company operates in one segment and therefore segment information is not presented.

(G) Revenue Recognition

The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “Revenue Recognition”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured.

(H) Recent Accounting Pronouncements

In October 2009, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standard Update (“ASU”) No. 2009-13, which addresses the accounting for multiple-deliverable arrangements to enable vendors to account for products or services separately rather than as a combined unit and modifies the manner in which the transaction consideration is allocated across the separately identified deliverables. The ASU significantly expands the disclosure requirements for multiple-deliverable revenue arrangements. The ASU will be effective for the first annual reporting period beginning on or after June 15, 2010, and may be applied retrospectively for all periods presented or prospectively to arrangements entered into or materially modified after the adoption date. Early adoption is permitted, provided that the guidance is retroactively applied to the beginning of the year of adoption. The Company does not expect the adoption of ASU No. 2009-13 to have any effect on its financial statements upon its required adoption on January 1, 2011.

6(I) Fair Value of Financial Instruments

The carrying amounts on the Company’s financial instruments including accounts payable, approximate fair value due to the relatively short period to maturity for this instrument.

-6-

CHARDAN ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2010

(UNAUDITED)

NOTE 2 NOTE PAYABLE – RELATED PARTY

For the year ended September 30, 2009, aChardan Capital Markets, LLC, our controlling shareholder and related party, loaned the Company $4,065. The Company entered into a written promissory note concerning this obligation. The loan is noninterest bearing and payable on demand.

For the ~~six~~nine months ended ~~March~~June 3130, 2010, Chardan Capital Markets, LLC, a related party , loaned the Company $1529,~~919~~623. The Company entered into a written promissory note concerning this obligation. The loan is non-interest bearing and payable on demand.

As of ~~March~~June 3130, 2010, total loan payable – related party is $1933,~~984~~688 (See Note 4).

NOTE 3 STOCKHOLDERS’ DEFICIENCY

(A) Stock Issued for Services

On September 26, 2008, the Company issued ~~100~~3,~~000~~676 shares of common stock to its founder having a fair value of $10 ($0.~~0001~~0027/share) in exchange for services provided. (See Note 3(D) and 4).

(B) Stock Issued for Cash

On November 4, 2008, the Company issued 146,~~260,000~~324 shares of common stock for cash of $12,600 ($0.0127/share) to a related party . (See Note 3(D) and 4).

For the year ended September 30, 2009, the shareholders of the Company contributed ~~service~~services having a fair value of $10,400 (See Note 4).

For the ~~six~~nine months ended ~~March~~June 3130, 2010, the shareholders of the Company contributed ~~service~~services having a fair value of $57,~~200~~800 (See Note 4).

For the ~~six~~nine months ended ~~March~~June 3130, 2010 the shareholder of the Company contributed $~~311~~689 of in kind contribution of interest on behalf of the Company (See Note 4).

-7-

CHARDAN ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2010

(UNAUDITED)

(D) Amendment to Articles of Incorporation/Redomestication

Effective May 25, 2010, the Company effected a change in domicile from the State of Nevada to the Territory of the British Virgin Islands. Effective the same date, the Company's authorized capital was changed from 100,000,000 common shares $0.0001 par value to 50,000 common shares without a par value and from 10,000,000 preferred shares $0.0001 par value to no preferred shares authorized. Common Stock is the only authorized capital of the Company. All basic and diluted loss per share and average shares outstanding information has been adjusted to reflect the Redomestication from the date of inception.

NOTE 4 RELATED PARTY TRANSACTIONS

For the year ended September 30, 2009, Chardan Capital Markets, LLC, a related party, loaned the Company $4,065. The Company entered into a written promissory note concerning this obligation. The loan is noninterest bearing and payable on demand.

For the ~~six~~nine months ended ~~March~~June 3130, 2010, Chardan Capital Markets, LLC, a related party, loaned the Company $1529,~~919~~623. The Company entered into a written promissory note concerning this obligation. The loan is not ~~noninterest~~ interest-bearing and is payable on demand.

As of June ~~March 31~~30, 2010, the total loan payable – related party is $1933,~~984~~688 (See Note 2).

For the ~~six~~nine months ended ~~March~~June 3130, 2010, ~~the~~a shareholder of the Company contributed $~~311~~689 of in kind contribution of interest on behalf of the Company (See Note 3(C)).

For the year ended September 30, 2009, the shareholders of the Company contributed ~~service~~services having a fair value of $10,400 (See Note 3(C)).

AsFor ofthe ~~March~~nine 31months ended June 30, 2010, the shareholders of the Company contributed ~~service~~services having a fair value of $57,~~200~~800 (See Note 3(C)).

On November 4, 2008, the Company issued 146,~~260,000~~324 shares of common stock for cash of $12,600 ($0.0127/share) to CCM, a related party (See Note 3 (B)).

~~NOTE 5 GOING CONCERN~~-8-

As reflected in the accompanying financial statements, the Company is in the development stage with no operations and has a net loss of $49,454 for the period from September 26, 2008 (inception) to March 31, 2010; and a working capital deficiency and stockholders’ deficiency of $20,933 at March 31, 2010. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

CHARDAN ACQUISITION CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2010

(UNAUDITED)

NOTE 5 GOING CONCERN

As reflected in the accompanying condensed unaudited financial statements, the Company is in the development stage with no operations and has a net loss of $64,422 for the period from September 26, 2008 (inception) to June 30, 2010; and a working capital deficiency and stockholders’ deficiency of $32,923 at June 30, 2010. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

NOTE 6 SUBSEQUENT EVENT

On ~~April~~July 2728, 2010, ~~a related party loaned~~ the Company’s ~~$3,355. The~~sole ~~Company~~Director ~~entered~~authorized ~~into~~ a ~~written~~change ~~promissory~~in ~~note~~the ~~concerning~~Company’s ~~this~~fiscal ~~obligation. The~~year ~~loan~~end isto ~~noninterest~~January ~~bearing~~31 ~~and~~from ~~payable~~September ~~on demand~~30.

-9-

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Description of Business

Chardan Acquisition Corp. (“we”, “us”, “our”, the "Company" or the "~~Registrant~~Company") was incorporated in the State of Nevada on September 26, 2008. Since inception, which was September 26, 2008, the Company has been engaged in organizational efforts and obtaining initial financing. The Company was formed as a vehicle to pursue a business combination and, ~~has~~although ~~made~~it nohas ~~efforts~~commenced toevaluating ~~identify a~~ possible business combination~~. As a result~~, ~~the~~it ~~Company~~ has not ~~conducted negotiations or~~ entered into a letter of intent concerning any target business. The business purpose of the Company is to seek the acquisition of or merger with, an existing company. The Company initially selected September 30 as its fiscal year end, however, this has been changed to January 31.

The Company, based on proposed business activities, is a "blank check" company. The U.S. Securities and Exchange Commission (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 of 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." Under SEC Rule 12b-2 under the Exchange Act, the Company also qualifies as a “shell company,” because it has no or nominal assets (other than cash) and no or nominal operations. Many states have enacted statutes, rules and regulations limiting the sale of securities of "blank check" companies in their respective jurisdictions. 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 it is 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 a business rather than immediate, short-term earnings. 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 analysis of new business opportunities will be undertaken by or under the supervision of ~~Kerry~~Congyan ~~Propper~~Xue the ~~officer~~Chief Executive Officer and sole director of the ~~Registrant~~Company. As of this date the Company has not entered into any definitive agreement with any party, ~~nor~~although ~~have~~it ~~there~~has ~~been~~had ~~any specific~~ discussions with ~~any~~multiple ~~potential~~parties ~~business~~about ~~combination~~potential ~~candidate regarding~~ business ~~opportunities~~combinations for the Company. The ~~Registrant~~Company has unrestricted flexibility in seeking, analyzing and participating in potential business opportunities. In its efforts to analyze potential acquisition targets, the ~~Registrant~~Company will consider the following kinds of factors:

(a) Potential for growth, indicated by new technology, anticipated market expansion or new products;

(b) Competitive position as compared to other firms of similar size and experience within the industry segment as well as within the industry as a whole;

(d) Capital requirements and anticipated availability of required funds, to be provided by the ~~Registrant~~Company or from operations, through the sale of additional securities, through joint ventures or similar arrangements or from other sources;

(e) The cost of participation by the ~~Registrant~~Company as compared to the perceived tangible and intangible values and potentials;

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(f) The extent to which the business opportunity can be advanced;

(g) The accessibility of required management expertise, personnel, raw materials, services, professional assistance and other required items; and

(h) Other relevant factors.

In applying the foregoing criteria, no one of which will be controlling, management will attempt to analyze all factors and circumstances and make a determination based upon reasonable investigative measures and available data. Potentially available business opportunities 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. Due to the ~~Registrant~~Company's limited capital available for investigation, the ~~Registrant~~Company may not discover or adequately evaluate adverse facts about the opportunity to be acquired.

On May 25, 2010, the Company received approval from the Territory of the British Virgin Islands (“BVI”) to be continued as a company incorporated under the BVI Business Companies Act, 2004 (the “BVI Act”). Pursuant to the BVI Act, we are authorized to issue up to 50,000 ordinary shares of a single class without par value and the Company has full capacity to carry on or undertake any business or activity subject to the BVI Act and BVI legislation. All authorized shares were issued to the existing Shareholders of the Company in proportion to their holdings of our shares when we were incorporated in Nevada.

Plan of Operation

The ~~Registrant~~Company is continuing its efforts to locate a merger candidate for the purpose of a merger. It is possible that the ~~registrant~~Company will be successful in locating such a merger candidate and closing such merger. However, if the ~~registrant~~Company cannot effect a non-cash acquisition, the ~~registrant~~Company may have to ~~raise~~borrow additional funds or raise equity from a private offering of its securities under Rule 506 of Regulation D. There is no assurance the ~~registrant~~Company would obtain any such equity funding. There is no assurance that any such debt or equity funding will be available.

Results of Operation

The Company did not have any operating income from inception through ~~March~~June 3130, 2010. For the ~~six~~nine months ended ~~March~~June 3130, 2010, the ~~registrant~~Company recognized a net loss of $1328,~~968~~936 and for the period from inception through ~~March~~June 3130, 2010, the ~~registrant~~Company recognized net loss of $4964,~~454~~422. Expenses for the quarter were comprised of costs mainly associated with legal, accounting and office.

Liquidity and Capital Resources

At ~~March~~June 3130, 2010, the Company had no capital resources and will rely upon the issuance of common stock and additional capital contributions from shareholders to fund administrative expenses pending acquisition of an operating company.

Recent Developments

On July 28, 2010, the Company’s sole director authorized a change in the Company's fiscal year end to January 31 from September 30. The Company plans to report its financial results for the four month transition period of October 1, 2009 through January 31, 2010 on a Transition Report on Form 10-K, or equivalent form. As a result of the change in fiscal year, the Company’s next fiscal year end will be January 31, 2011.

On July 29, 2010, the Company’s President and sole director resigned from each such position, which resignations were effective on that date and on July 29, 2010, the shareholders of the Company appointed Congyan “Mark” Xue to serve as the Company’s sole director, and on that same date Mr. Xue appointed himself as the Company’s Chief Executive Officer. On July 30, 2010, Mr. Xue, the Company’s sole director appointed William C. Morro as the Company’s Chief Financial Officer. Mr. Xue and Mr. Morro are both employees of Chardan Capital Markets, LLC, our controlling shareholder.

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As a result of the change in the Company’s domicile to the British Virgin Islands, the change in fiscal year and the appointment of Mr. Xue, a non-U.S. citizen, as sole director and Chief Executive Officer, the Company became a foreign private issuer as of July 31, 2010. Future reporting will be in accordance with the rules applicable to foreign private issuers.

Going Concern

We currently do not have enough cash to satisfy our minimum cash requirements for the next twelve months. asAs reflected in the accompanying financial statements, the Company is in the development stage with no operations and has a net loss of $4964,~~454~~422 for the period from September 26, 2008 (inception) to ~~March~~June 3130, 2010; and a working capital deficiency and stockholders’ deficiency of $2032,~~933~~923 at ~~March~~June 3130, 2010. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

Critical Accounting Policies

Our financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States (“GAAP”). GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenue and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.

Recent Accounting Pronouncements

In June 2009, the FASB issued ASC 105 Accounting Standards Codification TM and the Hierarchy of Generally Accepted Accounting Principles. The FASB Accounting Standards Codification TM (the “Codification”) has become the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”). All existing accounting standard documents are superseded by the Codification and any accounting literature not included in the Codification will not be authoritative. Rules and interpretive releases of the SEC issued under the authority of federal securities laws, however, will continue to be the source of authoritative generally accepted accounting principles for SEC registrants. Effective September 30, 2009, all references made to GAAP in our consolidated financial statements will include references to the new Codification. The Codification does not change or alter existing GAAP and, therefore, will not have an impact on our financial position, results of operations or cash flows.

In June 2009, the FASB issued changes to the consolidation guidance applicable to a variable interest entity (VIE). FASB ASC Topic 810, "Consolidation," amends the guidance governing the determination of whether an enterprise is the primary beneficiary of a VIE, and is, therefore, required to consolidate an entity, by requiring a qualitative analysis rather than a quantitative analysis. The qualitative analysis will include, among other things, consideration of who has the power to direct the activities of the entity that most significantly impact the entity's economic performance and who has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. This standard also requires continuous reassessments of whether an enterprise is the primary beneficiary of a VIE. FASB ASC 810 also requires enhanced disclosures about an enterprise's involvement with a VIE. Topic 810 is effective as of the beginning of interim and annual reporting periods that begin after November 15, 2009. This will not have an impact on the Company’s financial position, results of operations or cash flows.

In June 2009, the FASB issued Financial Accounting Standards Codification No. 860 - Transfers and Servicing. FASB ASC No. 860 improves the relevance, representational faithfulness, and comparability of the information that a reporting entity provides in its financial statements about a transfer of financial assets; the effects of a transfer on its financial position, financial performance, and cash flows; and a transferor's continuing involvement, if any, in transferred financial assets. FASB ASC No. 860 is effective as of the beginning of each reporting entity's first annual reporting period that begins after November 15, 2009, for interim periods within that first annual reporting period and for interim and annual reporting periods thereafter. The Company is evaluating the impact the adoption of FASB ASC No. 860 will have on its financial statements.

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Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

The Company is subject to certain market risks, including changes in interest rates and currency exchange rates. The Company does not undertake any specific actions to limit those exposures.

Item 4T. Controls and Procedures

(a) Evaluation of Disclosure Controls. Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) (the Company’s principal financial and accounting officer), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act, is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including the Company’s CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

(ab) ~~Evaluation~~Changes ofin ~~Disclosure~~internal ~~Controls. Pursuant~~control toover Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) and Chief Accounting Officer (“CAO”) (the Company’s principal financial and accounting officer), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this reportreporting. ~~Based~~There ~~upon~~have ~~that~~been ~~evaluation,~~no ~~the~~changes ~~Company’s~~in ~~CEO~~our ~~and~~internal ~~CAO~~control ~~concluded~~over ~~that~~financial ~~the~~reporting ~~Company’s disclosure controls and procedures are effective to ensure~~ that ~~information~~occurred ~~required~~during ~~to be disclosed by~~ the ~~Company~~last infiscal ~~the~~quarter ~~reports~~ that ~~the~~have ~~Company~~materially ~~files~~affected, or ~~submits under the Exchange Act,~~ is ~~recorded,~~ ~~processed,~~reasonably ~~summarized~~likely ~~and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated~~ to ~~the~~materially ~~Company’s management~~affect, ~~including~~our ~~the~~internal ~~Company’s~~control ~~CEO~~over ~~and~~financial ~~CAO, as appropriate, to allow timely decisions regarding required disclosure~~reporting.

(b) Changes in internal control over financial reporting. There have been no changes in our internal control over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.-13-

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

Currently we are not aware of any litigation pending or threatened by or against the Company.

Item 1A. Risk Factors

None

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

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Removed and Reserved.

Item 5. Other Information.

None

Item 6. Exhibits ~~and Reports of Form 8-K~~.

(a) Exhibits

31.1 Certifications pursuant to Section 302 of Sarbanes Oxley Act of 2002

32.1 Certifications pursuant to Section 906 of Sarbanes Oxley Act of 2002

~~(b) Reports of Form 8~~-K 14-

None.

SIGNATURES

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

	Chardan Acquisition Corp.
Date: May 21, 2010	By:	/s/ Kerry Propper
Date: August 20, 2010	By:	/s/ Congyan Xue
		Kerry Propper
		Congyan Xue
		President
		Chief Executive Officer and Director

	Chardan Acquisition Corp.

Date: August 20, 2010	By:	/s/ William C. Morro
		William C. Morro
		Chief Financial Officer

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