Cream the cream cheese with an electric mixer until smooth.
Add the extract of your choice and beat until combined.
Add the confectioner's sugar gradually and beat after each addition to combine thoroughly.
Scoop cream cheese mixture with a small spoon, and roll into balls. Place on a cookie sheet lined with waxed paper and refrigerate while you prepare the chocolate coating.
Place chocolate chips and beeswax in the top of a double boiler. Add water to the bottom pan (be careful not to get any water into the chocolate). Place the double boiler on a medium burner.
Stir chocolate and beeswax until completely melted. Turn off the burner, but leave the pan on the burner to keep chocolate melted.
Coat each candy ball with melted chocolate and remove with fork or dipping tool. Place on waxed paper. Repeat with all of the candies. Place in the refrigerator to cool.
Store chocolates in the refrigerator in an airtight container. Use in 2 or 3 weeks for best results.