1/2 cup Ketchup
1/2 cup Red wine vinegar
1/4 cup Brown sugar
1/8 cup Molasses
1/2 teaspoon Salt
1/4 teaspoon Pepper
1/4 teaspoon Garlic powder
1/4 teaspoon Onion powder

Combine all ingredients and bring to boil.
Simmer 30 minutes or till desired thickness.
You can add 1/2 teaspoon of liquid smoke at this point if desired.