U.S. SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                  Form 10-QSB

(Mark One)

[x]  Quarterly Report under Section 13 or 15(d) of the Securities
     Exchange Act of 1934

     For the three month period ended March 31, 2008
---------------------------------------------------------------------------

[ ]  Transition Report under Section 13 or 15(d)of the Exchange Act For the
     Transition Period from ________  to  ___________
---------------------------------------------------------------------------
                     Commission File Number: 0-28847
---------------------------------------------------------------------------

                                 FORMCAP CORP.
                  --------------------------------------------
                 (Name of small business issuer in its charter)

                   Nevada                        1006772219
      ----------------------------------   --------------------------
      (State or other jurisdiction of        (I.R.S. Employer
       incorporation or organization)        Identification No.)

            50 West Liberty Street, Suite 880, Reno, NV 89501
        -------------------------------------------------------------
        (Address of principal executive officers, including Zip Code)

                               1-775-322-0626
                    -------------------------------------
                         (Issuer's Telephone Number)
--------------------------------------------------------------------------

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act of 1934 during the past 12 months (or 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 check mark whether the registrant 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 the latest practicable date:

As of March 31, 2008 the registrant had issued and outstanding
10,498,545 shares of common stock, par value $0.001 per share

Transitional Small Business Disclosure Format (Check one): Yes [ ]  No [X]


<PAGE>


                                FORMCAP CORP.
                                 FORM 10-QSB

<TABLE>
<CAPTION>

                              TABLE OF CONTENTS

<S>                                                                  <C>
PART 1 - FINANCIAL INFORMATION

Item 1.     Unaudited Financial Statements

            Balance Sheet as at March 31, 2008                          1

            Statement of Operations for 3 months ended
            March 31, 2008                                              2

            Statement of Stockholders' Equity                         3-5

            Statement of Cash Flows for 3 months ended March 31, 2008   6
6

            Notes to the Financial Statements                        7-16

Item 2.     Management's Discussion and Analysis or Plan
            Of Operation                                               17

Item 3.     Controls and Procedures                                    17

PART 2 - OTHER INFORMATION

Item 1.     Legal Proceedings                                          18

Item 2.     Unregistered Sales of Equity Securities and Use
            Of Proceeds                                                18

Item 3.     Defaults Upon Senior Securities                            18

Item 4.     Submission of Matters to a Vote of Security Holders        18

Item 5.     Other Information                                          18

Item 6.     Exhibits and Reports on Form 8-K                           18

CERTIFICATION                                                       19-20
</TABLE>

<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Balance Sheet
(Unaudited)
(U.S. Dollars)

<TABLE>
<CAPTION>

Balance Sheet

-----------------------------------------------------------------------------
                                                     As at          As at
                                                   March 31,      March 31,
AS AT                                                2008           2007
-----------------------------------------------------------------------------
<S>                                              <C>           <C>
Assets
  Current Assets
  Cash                                           $     7,157           242
-----------------------------------------------------------------------------
                                                 $     7,157           242
=============================================================================

Liabilities

Current Liabilities
   Accounts payable                              $    42,525       101,389
   Royalty and license fees
     payable (Note 7)                                135,000       135,000
   Advances from related parties
     (Note 5 & 6)                                    639,140       670,771
-----------------------------------------------------------------------------
Total liabilities                                $   816,665       907,160
-----------------------------------------------------------------------------

Stockholders' Equity (Deficiency)

   Preferred stock, $0.001 par
     value, Authorized
     50,000,000 shares                                     -             -
   Common stock, $0.001 par value
     Authorized 150,000,000 shares
     10,498,545 shares issued and
     Outstanding, March 2008
     (42,709,162 shares issued and
     outstanding, March 2007                     $    10,499        42,709
   Additional paid-in capital                      6,324,653     6,135,443
   Deficit                                        (7,144,660)   (7,085,070)
-----------------------------------------------------------------------------
Total stockholders' deficit                      $  (809,508)     (906,918)
-----------------------------------------------------------------------------
Total liabilities and
  Stockholders' deficit                          $     7,157           242
=============================================================================
</TABLE>

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

                                       1
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Statement of Operations and Deficit
(U.S. Dollars)

<TABLE>
<CAPTION>

Statement of Operations and Deficit


                                                3 Months         3 Months
                                              Period Ended     Period Ended
                                                March 31,        March 31,
                                                  2008             2007
-----------------------------------------------------------------------------
<S>                                           <C>              <C>
Revenue                                                  -               -
-----------------------------------------------------------------------------

Expenses
  General and
    administrative                            $      1,041               -
  Consulting fee                                    15,000               -
  Transfer agent fees                                  147               -
  Accounting fees                                    6,000               -
-----------------------------------------------------------------------------
Total operating expenses$                     $     22,188               -
-----------------------------------------------------------------------------
Net loss for the year                         $    (22,188)              -
=============================================================================

Net loss per Common
  Share - Basic and
  Diluted                                            (0.00)          (0.00)
-----------------------------------------------------------------------------

Weighted average number
  of shares outstanding                         10,498,545      42,709,162
-----------------------------------------------------------------------------
</TABLE>

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

                                       2
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Statement of Stockholders' Equity (Deficit)
For the period from inception (April 10, 1991) to March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

<TABLE>
<CAPTION>

Statement of Stockholders' Equity (Deficit)


                                            Additional                Total
         Preferred          Common            Paid-In    Accum.   Stockholders'
          Shares    Amount  Shares    Amount  Capital   Deficit       Equity
-------------------------------------------------------------------------------
<S>      <C>       <C>     <C>        <C>    <C>        <C>         <C>
Balance,
December 31,
1991                                -      -          -          -           -

Balance,
December 31,
1992                                -      -          -          -           -

Balance,
December 31,
1993                                -      -          -          -           -

Net loss for
the year                                                    (5,000)     (5,000)
-------------------------------------------------------------------------------

Balance,
December 31,
1994                                -      -          -     (5,000)     (5,000)

Balance,
December 31,
1995                                -      -          -          -           -

Balance,
December 31,
1996                                -      -          -          -           -

Balance,
December 31,
1997                                -      -          -          -           -

Issued for
service
rendered                       66,667     67      4,933                  5,000

Net loss for
the year                                                   (33,441)    (33,441)
-------------------------------------------------------------------------------

Balance,
December 31,
1998                           66,667     67      4,933    (38,441)    (33,441)

Preferred
shares
for cash   300,000   3,000                                               3,000

Common
shares
for cash                      593,649    594   672,457                 673,051

Common
shares
for cash                        2,222      2    47,498                  47,500

Common
shares
for cash                       23,333     23                                23

Net loss
for the
year                                                      (705,213)   (705,213)
-------------------------------------------------------------------------------

Balance
December 31,
1999       300,000   3,000    685,871    686   724,888    (743,654)    (15,080)

Common
shares
issued
in escrow                       6,667      6        (6)                      -

Common
shares
for cash                       49,261     49   149,951                 150,000

Common
shares
for debt
settlement                    161,558    162   735,467                 735,629

Common
shares
for
services                       20,667     21   114,979                 115,000

Common
shares
for cash                      291,667    292   629,708                 630,000

Common
shares
subscribed                    194,444    194                  (194)          -

Net loss
for the
year                                                    (1,361,851) (1,361,851)
-------------------------------------------------------------------------------

Balance
December 31,
2000       300,000   3,000  1,410,135  1,410 2,354,987  (2,105,699)    253,698

Common
shares
issued
for cash                   13,010,000 13,010 1,287,990               1,301,000

Common
shares
issued
through
preferred
shares
conver-
sion     (300,000) (3,000)    200,000    200     2,800                       -

Common
shares
for
services                                        47,269                  47,269

Common
shares
issued
in acq-
uisition                      500,000    500   184,500                 185,000

Net loss
for the
year                                                    (1,980,176) (1,980,176)
-------------------------------------------------------------------------------

Balance
December 31,
2001             -       - 15,120,135 15,120 3,877,546  (4,085,875)   (193,209)


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

                                      3
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Statement of Stockholders' Equity (Deficit)
For the period from inception (April 10, 1991) to March 31, 2008
(Unaudited)
(U.S. Dollars)
------------------------------------------------------------------------------

                                       Additional                   Total
                                         Paid-In      Accum.     Stockholders'
                     Shares    Amount    Capital      Deficit       Equity
------------------------------------------------------------------------------
Balance
December 31, 2001  15,120,135  15,120   3,877,546   (4,085,875)      (193,209)

Shares issued for
private placement     868,182     868     235,132                     236,000

Shares issued for
exercise of options   500,000     500     249,500                     250,000

Stock option
compensation                              305,788                     305,788

Foreign currency
translation                                                           (12,008)

Net loss for the year                               (1,587,454)    (1,587,454)
------------------------------------------------------------------------------

Balance
December 31, 2002  16,488,317  16,488   4,667,966   (5,673,329)    (1,000,883)

Shares issued for
private placement     108,868     109      16,221                      16,330

Shares issued for
services              200,000     200      31,800                      32,000

Shares issued for
debt settlement     7,286,667   7,287     721,380                     728,667

Stock options granted
for services                                9,897                       9,897

Stock options granted
for debt settlement                       421,417                     421,417

Stock option
compensation                              134,167                     134,167

Foreign currency
translation                                                          (108,806)

Net loss for the year                               (1,306,182)    (1,185,368)
------------------------------------------------------------------------------

Balance
December 31, 2003  24,083,852  24,084   6,002,848   (6,979,511)      (952,579)

Shares issued for
debt settlement       150,000     150      49,850                      50,000

Shares issued for
professional fees     820,000     820                                     820

Shares to balance                                          400            400

Net loss for the year                                  (86,485)       (86,485)
------------------------------------------------------------------------------

Balance
December 31, 2004  25,053,852  25,054   6,053,098   (7,065,996)      (987,844)

Stock option
exercised           7,655,310   7,655      (7,655)

Shares issued for
debt settlement    10,000,000  10,000      90,000                     100,000

Net loss for the year                                  (12,159)       (12,159)
------------------------------------------------------------------------------

Balance
December 31, 2005  42,709,162  42,709   6,135,443   (7,078,155)      (900,003)

Net loss for the year                                   (6,915)        (6,915)
------------------------------------------------------------------------------

Balance
December 31, 2006  42,709,162  42,709   6,135,443   (7,085,070)      (906,918)

                                        4
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Statement of Stockholders' Equity (Deficit)
For the period from inception (April 10, 1991) to March 31, 2008
(Unaudited)
(U.S. Dollars)
------------------------------------------------------------------------------

                                       Additional                   Total
                                         Paid-In      Accum.     Stockholders'
                     Shares    Amount    Capital      Deficit       Equity
------------------------------------------------------------------------------
Balance
December 31, 2006  42,709,162  42,709   6,135,443   (7,085,070)      (906,918)

Shares issued for
debt settlement    57,000,000  57,000                                  57,000

Shares issued after
stock split
200:1                498,545  (99,210)     99,210                           -

Shares issued for
debt settlement   10,000,000   10,000      90,000                     100,000

Net loss for the year                                  (37,402)       (37,402)
------------------------------------------------------------------------------

Balance
December 31, 2007 10,498,545   10,499   6,324,653   (7,122,472)      (787,320)

Net loss for the period                                (22,188)       (22,188)
------------------------------------------------------------------------------

Balance
March 31, 2008    10,498,545   10,499   6,324,653   (7,144,660)      (809,508)

</TABLE>

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

                                      5
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Statement of Cash Flows
(Unaudited)
(U.S. Dollars)

<TABLE>
<CAPTION>

Statement of Cash Flows


                                                3 Months         3 Months
                                              Period Ended     Period Ended
                                                March 31,        March 31,
                                                  2008             2007
-----------------------------------------------------------------------------
<S>                                           <C>              <C>
Cash Flows (Used In) Provided By :
Operating Activities
   Net Loss                                   $     (22,188)              -
   Adjustments to reconcile
   net loss to net cash used
   in operating activities                                -               -
     Accounts payable                                17,377               -
     Related party payables                           9,169               -
-----------------------------------------------------------------------------
                                                      4,358               -
-----------------------------------------------------------------------------

Investing Activities                                      -               -

Financing Activities                                      -

-----------------------------------------------------------------------------

Increase/(Decrease) in Cash                           4,358               -
Cash, beginning                                       2,799             242
-----------------------------------------------------------------------------
Cash, ending                                  $       7,157             242
=============================================================================

</TABLE>

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


                                      6
<PAGE>


FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

1. General Organization And Business

Form Cap Corp. ( the "Company" or "Form Cap" ) was incorporated in the State
of Florida on April 10, 1991, under the name of Aarden-Bryn Enterprises, Inc.
The Company become a foreign registrant in the State of Nevada on December
24, 1998, and became qualified to transact business in the State of Nevada.

Since its incorporation, the Company has changed its name several times. On
August 27, 1998 the Company changed its name to  Corbett's Cool Clear Water,
Inc.,  on October 26, 1998 to  Canadian Cool Clear Water, Inc.,  on  February
11, 1999  to  Canadian  Cool  Clea r WTAA, Inc.,  on  September 24, 1999  to
WTAA International, Inc.,  on  December 6, 2001  to  Gravitas International,
Inc.,  and  finally to its current name, Form Cap Corp. on October 12, 2007.

The Company's financial statements  are prepared using  generally accepted
accounting principles  in the United States of America applicable to a going
concern  which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. The Company has not yet
established an ongoing source of revenues sufficient to cover its operating
costs and allow it to continue as a going concern.  The ability of  the
Company to continue as a going concern is dependent on the Company obtaining
adequate capital to fund operating losses until  it becomes profitable.  If
the Company is unable to obtain adequate capital, it could be forced to cease
operations.

In order to continue as a going concern, the Company will need, among other
things, additional capital resources.  Management's plans to obtain such
resources for the Company include (1) obtaining capital from management  and
significant shareholders sufficient to meet its minimal operating expenses,
and (2) seeking out and completing a merger with an existing operating
company.  However, management cannot provide any assurances that the Company
will be successful in accomplishing any of its plans.

The  ability of the Company  to continue as a going concern is  dependent
upon  its  ability to successfully accomplish the plans described in the
preceding paragraph and eventually secure other sources of financing
and attain profitable operations.  The accompanying  financial statements  do
not include any adjustments that might be necessary if the Company is unable
to continue as a going concern.

The Company has no operation since  November of  2003  and the Company's
ability to continue as a going concern is dependent on successful future
operations and obtaining the necessary debt and equity financing for future
acquisition. In accordance with  SFAS No. 7  the Company is considered to be
in the development stage.

As of March 31, 2008  the Company had an accumulated deficit of
$7,144,660 and a loss of $22,188 for the period ended March 31, 2008.  There
was no revenue for the period ended March 31, 2008.

                                     7
<PAGE>


FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

2. Summary Of Significant Accounting Policies

(a)  Use Of Estimates
     In  preparing  financial  statements  in  conformity  with  accounting
     principles  generally  accepted in  the  United  States  of  America  (
     US GAAP ),  management  is  required  to  make   estimates  and
     assumptions  that  affect  the  reported  amounts  of assets  and
     liabilities, the disclosure of contigent assets  and  liabilities  at
     the  date  of the financial statements, and the reported amounts of
     revenue and expenses during the reporting period.  Actual results could
     differ from those estimates.

(b)  Impairment Of Long Lived Assets
     The  Company  reviews  the  carrying  value  of  long-lived  assets  for
     impairment whenever events and  circumstances  indicate  that  the
     carrying  value  of  an asset may  not  be recoverable and exceeds  its
     fair  value.   An  impairment  loss is recognized as  the amount by
     which the carrying amount of  a  long-lived asset  exceeds  its fair
     value.  The factors considered by management in performing  this
     assessment  include  operating  results,  trends,  and  prospects,  as
     well as the effects of obsolescence, demand, competition and other
     economic factors.   As at March 31, 2008 the Company has no long-
     lived assets.

(c)  Stock Issued In Exchange For Services
     The  valuation  of  common  stock  issued in exchange for services is
     valued at an estimated fair market  value  as  determined  by  officers
     and directors of the Company based upon other sales and issuances of the
     Company's common stock within the same general time period.

(d)  Stock-based Compensation
     For  years  ended  December 31,  2002   and  prior,  the Company
     applied   APB  Opinion  25, Accounting  for  Stock  Issued to
     Employees, and related interpretations in accounting for its stock
     options granted to  employees.  Effective  January 1, 2003  the
     Company adopted the provision of SFAS  123 recommending the
     fair value-based methodology for measuring compensation costs.

(e)  Income Taxes
     The  Company  use  the  asset  and liability  approach  in  its  method
     of  accounting  for income taxes.  This  requires  the  recognition  of
     deferred  tax  liabilities  and assets for expected future tax
     consequences  of  temporary  differences  between  the  carrying amounts
     and the tax basis of assets and liabilities.  A  valuation  allowance
     against deferred tax assets is recorded if, based on  weighted
     available evidence,  it is more  likely  than  not  that  some or all of
     the deferred tax assets will not be realized.

                                       8
<PAGE>


FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

2. Significant Accounting Policies ( Continued )

(f)  Foreign Currency Translation
     The  Company uses the current method of foreign currency translation.
     The Company's reporting currency is the US dollar.   Assets  and
     liabilities  recorded  in fuctional currencies other than US dollars are
     translated  into US dollars  at the year-end rate of exchange. Revenue
     and expenses are  translated  at  the  weighted-average  exchange  rates
     for the year. The resulting translation adjustments are charged as an
     expense.  Gains or losses from foreign currency transactions are
     included in the earnings of the current period.

(g)  Loss Per Share
     Loss  per  share  computations  are  based  on  the  weighted average
     number of common shares outstanding  during  the  period.   Common
     share  equivalents  consisting   of  stock  options  and warrants are
     not considered in the computation because their effect would be anti-
     dilutive.

3. Stockholders' Equity

In June 1998, the Company issued 1,667  free trading common shares to 25
Founding shareholders for a total consideration of $500.

In June 1998, the Company issued 65,000 restricted common shares to three
shareholders in consideration of $4,500. These shares were issued under Reg.
D 504 and were affixed with a "144" legend and became free trading in June,
2000.

In December 1998 the Company issued 533,333 common shares by way of an
Initial Offering Memorandum to eight inverstors in exchange for  $8,000.  Two
shareholders were affiliates under this  Offering and their share were issued
with the appropriate restrictions.  All other investors in the Offering
received free trading shares.

In January 1999, the Company issued 1,467 restricted common shares by way of
a private placement under Reg. D. 504 to one investor in exchange for
$66,000 or $45.00  per share which proceeds were proceeds intended to fund
the Company's immediate working capital needs.

In April of 1999, the Company issued 6,732 restricted common shares by way of
a private placement under Reg. D. 504 to two investors in exchange for
$125,224 or $18.75 per share which proceeds were proceeds intended to fund
the Company's immediate working capital needs.

                                   9
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

3. Stockholders' Equity  (Continued)

In May 1999, the Company issued 3,704 restricted common shares by way of a
privante placement under Reg. S. to one  investor in exchange for  $75,000
or  $20.25  per share  which  proceeds were proceeds  intended to fund the
Company's immediate working capital needs.

In July 1999,  the Company issued 2,222  restricted common shares by way of a
private placement under Reg. S. to  one  investor in exchange for  $50,000
or  $22.50  per share  which  proceeds were proceeds intended to fund the
Compnay's immediate working capital needs.

In September 1999,  the Company issued 38,890 restricted common shares  of
the Company by way of a private placement  under  Reg. S. to  one  investor
in  exchange for  $350,000 or $9.00  per share which  proceeds were proceeds
intended to fund the Company's immediate working capital needs. As part of
the offering price, the accredited investor also received  6,667  Share
Purchase Warrants  convertible into an  equivalent number of share of the
Company's Common Stock  from the date of Investment  to September 2000, at a
strike price of $10.65 per share. A finder's fee in the amount of $40,000 was
paid in connection with this private placement.

In May 1999,  the Company issued 16,667  restricted common shares of the
Company under Reg. S. to an employee in consideration for services rendered
to the Company.

In December 1999, the Company issued an aggregate of 9,506 restricted common
shares of the Company by wary of a private placement under Reg. S. to one
investor in exchange for $100,000 or $10.50 per share which proceeds were
proceeds intended to fund the Company' s immediate working capital needs. As
part of the offering price, the accredited investor also received  4,762
Share Purchase Warrants convertible into an equivalent number of shares of
the Company's Common Stock from the date of Investment to December 2000, at a
strike price of  $12.75.  A  finder's fee in the amount of  $15,000  was paid
in connection to this private placement.

In December 1999, the Company issued an aggregate of 16,667 restricted common
shares of the Company to a Director under Reg.S. in consideration for
services rendered to the Company.

In February, 2000 the Company issued 16,667 restricted shares under Reg. S to
a director in consideration for services rendered to the Company.

                                      10
<PAGE>


FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

3. Stockholders' Equity  (Continued)

In May 2000,  the Company completed a private placement under  Reg. S.
whereby it issued an aggregate of 49,261 restricted common shares of the
Company's Common Stock in exchange for $150,000 or $3.045 per share,  which
intended to fund the Company's immediate working capital needs.  As part of
the offering price,  the  accredited  investors  also  received  49,261
Share  Purchase  Warrents  convertible  into  an  equivalent  number of
shares of  the  Company's  Common Stock  from the date of the private
placement Agreement to May 9, 2001, at a strike price per share equal to 54%
of the closing bid for the Company's stock on the last trading day preceding
the date of execution of the Agreement; and, from May 1, 2001 to April
30,2002, at a strike price per share equal to 140% of the closing bid for the
Company's stock on the last trading day preceding the date of execution of
the Agreement.

In May 2000,  the Company completed  a debt conversion under  Reg. S. whereby
it issued an aggregate of  100,548 restricted shares of the Company's Common
Stock in exchange for  $205, 117 or  $2.04  per share, which proceeds were
intended to fund the  Compnay's immediate working capital needs.  As part of
the offering price, the accredited investors also received 100,548 Share
Purchase Warrants convertible into  an  equivalent  number  of  shares  of
the  Company's Common Stock  from  the date of the  private placement
Agreement to  May, 2001, at a strike price per share equal to  40%  of the
closing bid for the Company's stock on the last trading preceding the date of
exercution of the Agreement; and , from May 30, 2001  to  April 30, 2002,  at
a strike price per share equal to 140%  of the closing  bid for  the
Company's stock on the last trading day preceeding the date of exercution of
the Agreement.

In May 2000, the Company completed a debt conversion under Reg. S. whereby it
issued an aggregate of 61,010 restricted shares of the Company's Common Stock
in exchange for $183,031, or $3.00 per share, which proceeds were intended to
fund the  Company's immediate  working  capital needs.  As part of the
offering price,  the accredited investors also received  61,010  Shares
Purchase Warrants converible into share equal of 58% of the closing bid for
the Company's stock on the last trading day preceding the date
of execution of the Agreement; and, from  May 30, 2001  to  April 30, 2002,
at  a strike  price per share equal to 140% of the closing bid for the
Company's stock on the last  trading day  preceding the date of execution of
the Agreement.

In  November  2000,  the  Company completed a private placement under  Reg.
S.  Whereby  it issued an aggregate of 41,667 restricted shares of the
Company's Common Stock in exchange for $150,000 or $3.60 per share, which
intended to fund the Company's immediate working capital needs. As part of
the offering price, the accredited investors also received 41,667 Share
Purchase Warrants converible into an equivalent number of shares of the
Company's Common Stock from the date of the private placement  Agreement to
October 30, 2001, at a strike price per share equal to 100% of the closing
bid for the Company's stock on the last trading preceding the date of
execution of the Agreement; and, from December 1,2001 to January 31, 2003, at
a strike price per share equal to 140% of the closing bid for the Company's
stock on the last trading preceding the date of exercution of the Agreement.

                                    11
<PAGE>


FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

3. Stockholders' Equity  (Continued)

In  November 2000,  the Company completed a private  placement  under  Reg.
S.  whereby it issued an aggregate of  50,000  restricted  shares of the
Company's Common Stock in exchange for  $180,000  or  $3.60 per share, which
proceeds were intended to fund the Company's immediate working capital needs.
As part of the offering  price,  the  accredited  investors also received
50,000  Share Purchase Warrants  converible  into  an equivalent number of
shares of  the  Company's Common Stock  from the date of the  private
placement  Agreement to November 30, 2001,  at a strike price per share equal
to  100% of the  closing  bid  for the  Company's stock  on the last  trading
day preceding  the  date of  execution of  the  Agreement; and, from December
1, 2001 to January 31, 2003, at a strike price per share equat to 140% of the
closing bid for the Company's stock on the last trading day preceding the
date of execution of the Agreement.

In December 2000,  the Company completed a private placement under  Reg. S.
whereby  it  issued an aggregate of 200,000 restricted shares of the
Company's Common Stock in exchange for  $300,000  or  $1.50 per share, which
proceeds were intended to fund the Company's immediate working capital needs.
As part of the offering price, the accredited investors also received
200,000  Share Purchase Warrants  converible into an equivalent number of
shares of the Company's Common Stock  from  the date of  the  private
placement Agreement  to  December 29, 2001,  at a strike price per share
equal to 100% of the  closing  bid  for the  Company's stock on the last
trading day  preceding  the date of execution of  the  Agreement; and, from
January 1, 2002 to February 28, 2003, at a strike price per share equat to
140%  of the closing bid for the Company's stock on the last trading day
preceding the date of execution of the Agreement.

In  January 2001,  the  Company  completed a private placement under  Reg. S.
whereby  it  issued an aggregate of 3,400,000 restricted shares of the
Company's Common Stock in exchange for $340,000 or  $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.
As part of the offering price, the accredited investors also received
3,400,000 Share Purchase Warrants  converible  into an equivalent number of
shares of the Company's  Common Stock  from the date of the  private
placement Agreement to March 14, 2002,  an amount of money per share equal to
100%  of the  closing  bid for the  Company's stock  on  the  last  trading
day preceding  the  date  of execution of the  Agreement; and, from April 1,
2002 to May 31, 2003,  an amount  of money per share equal to 140% of  the
closing bid for the Company's stock on the last  trading day  preceding the
date of execution of the Agreement.

In April 2001, the Company completed a private placement under Reg. D Section
504 whereby it issued an agregate of 500,000 restricted shares of the
Company's Common Stock in exchange for $50,000 or  $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.


                                    12
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

3. Stockholders' Equity  (Continued)

In  April 2001, the Company completed a private placement under Reg.
S.whereby it  issued an aggregate of 500,000 restricted shares of the
Company's Common Stock in exchange for $50,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In  April 2001, the  Company completed a private placement under Reg.
S.whereby it issued an aggregate of 500,000 restricted shares of the
Company's Common Stock in exchange for $50,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. D Section
504 whereby it issued an agregate of 750,000 restricted shares of the
Company's Common Stock in exchange for $75,000 or $0.10  per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. D Section
504 whereby it issued an agregate of 750,000 restricted shares of the
Company's Common Stock in exchange for $75,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. D Section
504 whereby it issued an agregate of 750,000 restricted shares of the
Company's Common Stock in exchange for $75,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. D Section
504 whereby it issued an agregate of 750,000 restricted shares of the
Company's Common Stock in exchange for $75,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 750,000 restricted shares of the Company's Common
Stock in exchange for $75,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 750,000 restricted shares of the Company's Common
Stock in exchange for $75,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 750,000 restricted shares of the Company's Common
Stock in exchange for $75,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 110,000 restricted shares of the Company's Common
Stock in exchange for $11,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.


                                    13
<PAGE>


FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

3. Stockholders' Equity  (Continued)

In April 2001, the Company completed a private placement under Reg. S Section
46 whereby it issued an agregate of 750,000 restricted shares of the
Company's Common Stock in exchange for $75,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 750,000 restricted shares of the Company's Common
Stock in exchange for $75,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In April 2001, the Company completed a private placement under Reg. D Section
504 whereby it issued an agregate of 100,000 restricted shares of the
Company's Common Stock in exchange for $10,000 or $0.10 per share, which
proceeds were intended to fund the Company's immediate working capital needs.

In April 2001, the Company issued 200,000 shares in the Common Stock of the
Company to directors under Reg. D Section 504 for the obligations underlying
Subscription Agreements dated January, 1999 wherein the directors had
subscribed for 20,000 Preferred Shares, but the Preferred Shares were not
subsequently designated. Conversion of the Preferred Shares did not require
additional consideration, and the shares issued in satisfaction of the
issuance of obligation were without additional consideration. The 200,000
common shares so issued was the same number into which the Preferred Shares
could have been exchanged, had the Designation been made.

In May 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 750,000 restricted shares of the Company's Common
Stock in exchange for $75,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In May 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 200,000 restricted shares of the Company's Common
Stock in exchange for $20,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In May 2001, the Company completed a private placement under Reg. S whereby
it issued an aggregate of 200,000 restricted shares of the Company's Common
Stock in exchange for $20,000 or $0.10 per share, which proceeds were
intended to fund the Company's immediate working capital needs.

In November 2001, the Company issued 500,000 shares in the Common Stock of
the Company under Reg. D Section 4(6) to 100% of outstanding shares of
Evolution Marketing Systems inc. As part of the offering price, the
shareholders also received 250,000 Shares Purchase Warrants convertible into
an equivalent number of shares of the Company's Common Stock from the date of
the private placement.

                                       14
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

3. Stockholders' Equity  (Continued)

In 2003 the Company sold 108,868 common shares of stock for $16,330 and also
raised $486,000 through the issuance of common stock and exercise of stock
options. In Apri 2003, Jupiter Capital Ventures, Inc., and Jupiter Financial
Services agreed to allow the Company to convert the outstanding debts owing
to each of the companies into equity in the Company. The debt consists of a
combination of expenses incurred by Jupiter Capital  on  behalf  of  the
Company,  advances  loaned to the Company by Jupiter,  and services rendered
to the Company as stipulated by consulting agreements of  Jupiter Capital
Ventures, Inc., and Jupiter Financial Services, Inc., and total $765,531.

In January 2004, the Company entered into an agreement with related parties
to convert debt of $50,000 with the issuance of 150,000 free trading shares
of the Company.

In March 11, 2005,  there  are  options outstanding  held by  William Mckay
in the amount 6,155,310 and options outstanding held  by Jupiter Capital
Ventures, Inc.,  all  of  which  options  having  been  granted pursaunt to a
stock for debt agreement dated April 14, 2003 and all of the options
exercisable at a price of $0.00.  Pursuant to Mckay  S-8  Option  the holder
hereby  surrenders  this option and  the Company hereby resolved to issue
6,155,310  common shares of the  Company to Mckay and pursuant to Jupiter 144
Option  the  holder  hereby  surrenders  this option and  the  Company
hereby  resolved to issued 1,500,000 common shares of the Company to Jupiter
Capital Ventures, Inc.

In April 11, 2005, the Company entered into an agreement with Jupiter Capital
Ventures, Inc., to convert $100,000 of outstanding debts in exchange for
10,000,000 common shares of the Company.

In August 30, 2007, $57,000 of related parties debt of the Company was
settled through the issuance of 57,000,000 common restrictive shares and on
October 12, 2007 the Company had authorized a reverse stock split of 200 to
1 of all of the issued and outstanding common stock.  On October 24, 2007,
$100,000 of related parties debt of the Company was settled through the
issuance of 10,000,000 common restrictive shares in accordance to Rule
144 (k) under the Securities Act of 1933.

4. Share Capital

Amend the Company's authorized share capital

On July 15, 2005 the authorized shares capital was increased as follows :-

Authorized preferred stock consist of  50,000,000 shares having a par value
of $0.001 per share

Authorized common stock consist of 150,000,000 shares having a par value of
$0.001 per share

Article IV of the Company's Articles of Incorporation will be amended to read
as follows:
The capital stock of this corporation shall consist of 150,000,000 shares of
common stock having a par value of $0.001 per share and 50,000,000 shares of
preferred stock with a par value of $0.001 per share

                                     15
<PAGE>



FORM CAP CORP
(FORMERLY: GRAVITAS INTERNATIONAL, INC.)
(A DEVELOPMENT STAGE COMPANY)
Notes To The Financial Statements
March 31, 2008
(Unaudited)
(U.S. Dollars)
-----------------------------------------------------------------------------

5. Advances From Related Party

At March 31, 2008, $639,140 was due to several individuals and corporations
related to the Company.  These amounts bear no interest and are due on
demand, the Company recorded no imputed interest on these borrowings.

6. Related Party Transactions

In August 30, 2007, $57,000 of related parties debt of the Company was
settled through the issuance of 57,000,000 common restrictive shares and
on October 24, 2007, $100,000 of related parties debt of the Company was
settled through the issuance of 10,000,000 common restrictive shares in
accordance to Rule 144 (k) under the Securities Act of 1933.

7. License Agreement

As of December 31, 2004,  the Company had  $135,000  in outstanding  license
and royalty fees payable. The Company is in default in these agreements and
is currently negotiating settlements of these liabilities as it is no longer
in this line of business.

Income Taxes

The  Company provides for income taxes under  Statement of Financial
Accounting Standards No. 109, Accounting for  Income Taxes.   SFAS No. 109
requires the use of an asset and liability  approach in accounting for income
taxes.  Deferred tax assets and liabilities  are recorded based on the
differences between the financial statement and tax bases of assets and
liabilities and the tax rates in effect currently.

SFAS No. 109 requires the reduction of deferred tax assets by a valuation
allowance if, based on the weigh of available evidence, it is more likely
than not that some or all of the deferred tax assets will not be realized. In
the Company's opinion, it is uncertain whether they will generate sufficient
taxable income in the future to fully utilize the net deferred tax asset.

At March 31, 2008, the Company had deficits accumulated during the
development stage of $7,144,660 available to offset future taxable income.

                                      16
<PAGE>



ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The following discussion and analysis of the results of operations and the
Company's financial position should be read in conjunction with the audited
financial statements and accompanying notes.

This Quarterly Reports contain various forward-looking statements and
information, including (but not limited to) under the caption "Management's
Discussion and Analysis or Plan of Operation" that are based on management's
beliefs as well as assumptions made by and information currently available to
management, including statements regarding future economic performance and
financial condition, liquidity and capital resources and management's plan
and objectives. When used in this document, the words "expect," "anticipate,"
"estimate," " believe," and similar expressions are intended to identify
forward-looking statements. Such statements are subject to various risks and
uncertainties that could cause actual results to vary materially from those
stated. Should one or more of these risks or uncertainties materialize or
should underlying assumptions prove incorrect actual results may vary
materially from those anticipated, estimated, expected or projected. Some
important factors that could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements include,
but are not limited to the following: our limited operating history; history
of losses; competition; our ability to manage growth and integration; risks
of technological change; competition for customers; pricing and
transportation of products; marketing relationships with third party
suppliers; our ability to protect our intellectual property rights; economic
and political factors; risk of technological change; market acceptance of our
products, our ability to raise capital, ability to secure licenses,
uncertainty regarding infringing intellectual property rights of others;
security risks and the other risks and uncertainties described under. All
such factors are difficult to predict, contain uncertainties that may
materially affect actual results, and are beyond our control.

OVERVIEW

The Company has been in the process of identifying and discussing strategic
merger or acquisitions.  The Company will need to raise substantial
additional capital to fund this strategy. The Company is seeking such
additional funds through private equity or debt financing. There can be no
assurance that such funding will be available on acceptable terms. The
Company's continued existence as a going concern is ultimately dependent upon
its ability to secure additional funding. The Company has no lines of credit
available at this time.

OPERATION

The Company has not been active since November 2003. The losses for the 3
months period ended March 31, 2008 was $22,188 for consulting, accounting,
filing, general and administrative expenses.  There were no revenue for
those periods stated above.

ITEM 3 - CONTROLS AND PROCEDURES

As of the end of the period covered by this report, the Company conducted an
evaluation, under the supervision and with the participation of the principal
executive officer and the principal financial officer, of the Company's
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-
15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"). Based
on this evaluation, the principal executive officer and principal financial
officer concluded that the Company's disclosure controls and procedures are
effective to ensure that information required to be disclosed by the Company
in reports that it files or submits under the Exchange Act is recorded,
processed, summarized and reported within the time periods specified in
Securities and Exchange Commission rules and forms.

There was no change in the Company's internal control over financial
reporting during the Company's most recently completed fiscal quarter that
has materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.


                                      17
<PAGE>



PART 2. - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

Neither the Company nor any of its officers, directors or greater than 10%
beneficial shareholders are involved in any litigation or legal proceedings
involving the business of the Company.

ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

No unregistered securities were issued during the period covered by this report.
Amendment of the Company's authorized share capital. On July 15,
2005 the authorized shares capital was increased as follows :-

Authorized preferred stock consist of 50,000,000 shares having a par value of
$0.001 per share Authorized common stock consist of 150,000,000 shares having
a par value of $0.001 per share

Article IV of the Company's Articles of Incorporation will be amended to read
as follows :  The capital stock of this corporation shall consist of
150,000,000 shares of common stock having a par value of $0.001 per share and
50,000,000 shares of preferred stock with a par value of $0.001 per share.

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 AND REPORTS ON FORM 8 - K

On August 24, 2007 - Mr. Jeffrey Dashefsky was appointed as the new President
and Director and Ms. Samantha Roberts as the new Secretary of the Company.

On August 24, 2007 - Ms. Catherine Milaire resigned as President, CEO and
Director of the Company

On December 4, 2007 - Mr. Jeffrey Dashefsky was appointed as the new
Secretary and Ms. Samantha Roberts resigned as the Secretary of the Company.


                                      18
<PAGE>