FORMCAP CORP.



FORM 10-Q
 (Quarterly Report)




Filed August 20, 2009 for the Period Ending 06/30/09



Address		50 WEST LIBERTY STREET
		SUITE 880
		RENO, NV 89501

Telephone	775-322-0626
CIK		0001102709
Symbol		FRMC
SIC Code	7372 - Prepackaged Software
Fiscal Year	12/31


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

(X)  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2009

OR

(   )  TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 For the transition period from _____ to _____

Commission File Number : 0 - 28847

FORMCAP CORP.
( Exact name of registrant as specified in its charter )

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

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

 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 during the past 12 months
(or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.
YES  ( X )  NO  (   )

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

Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer, or a small
reporting company. See definitions of "large accelerated filer,"
"accelerated filer," and "small reporting company" 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 is a shell company (as
defined in Rule 12b-2 of the Exchange Act).  (    )  Yes    ( X )  No

     APPLICABLE ONLY TO CORPORATE ISSUERS

The number of shares outstanding the issuer's common stock, $0.001 par
value, was 43,798,607 as of July 31, 2009.






FORMCAP CORP.

FORM 10-Q

For the Period Ended June 30, 2009

TABLE OF CONTENTS

PART I	FINANCIAL INFORMATION 					Pages

Item 1.	Financial Statements  ...............			1 - 12

Item 2.	Management's Discussion and Analysis of Financial
	Condition And Results of Operations............. 	13 - 19

Item 3.	Quantitative and Qualitative Disclosures About
	Market Risk.... 					20

Item 4T.Controls and Procedures.......... 			20

PART II

Item 1.	Legal Proceedings............... 			20 - 21

Item 1A.Risk Factors.............. 				21

Item 2.	Unregistered Sales of Equity Securities and
	Use of Proceeds..					21 - 22

Item 3.	Defaults Upon Senior Securities.............. 		22

Item 4.	Submission of Matters to a Vote of
	Security Holders............ 				22

Item 5.	Other Information.........	 			22

Item 6.	Exhibits and Certifications.......			23 - 29




Part 1. Item 1.  Financial Statements

 		FORMCAP CORP.
     							     Page No.

Balance Sheets as at June 30, 2009  and December 31, 2008	1

Statements of Operations For the Three Months and
Six Months Ended June 30, 2009 and 2008				2

Statements of Cash Flows
For the Six Months Ended June 30, 2009 and 2008 and
For the Period From Inception April 10, 1991 to June 30, 2009	3 - 4

Notes to Financial Statements					5 - 12




FORMCAP CORP.
(A Development Stage Company)
FINANCIAL STATEMENTS
June 30, 2009
(Stated in US Dollars)






FORMCAP CORP
(FORMERLY : GRAVITAS INTERNATIONAL, INC.)
(a development stage company)
Balance Sheets As At June 30, 2009 and December 31, 2008
(U.S. Dollars )
						Unaudited
						June 30,	Dec 31,
 						2009		2008

Assets

  Current Assets
   Cash					$	   57		  356
   Prepaid expenses				3,950		3,950
                                              -------          ------
Total Assets				$	4,007		4,306
					      -------          ------
Liabilities
  Current Liabilities
   Accrued liabilities		       	       12,000		9,000
   Related parties accounts  (Note 4)	$     783,123	      741,153
   Royalty and license
    fees payable            (Note 5)	      135,000	      135,000
					      -------	      -------
Total Liabilities			$     930,123	      885,153


Stockholders' Equity (Deficit)
 Preferred stock, $0.001 par value
   Authorized 50,000,000 shares			-		 -
 Common stock, $0.001 par value
   Authorized 200,000,000 shares
    41,198,607 shares issued and
    outstanding at June 30, 2009
    and 160,998,607 shares issued
    and outstanding at
December 31, 2008			$     41,199	     160,999
 Subscription notes receivable		     (30,000)	    (150,000)
 Additional paid-in capital		   6,348,953	   6,329,153
 Accumulated deficit			  (7,286,268)	  (7,220,999)

Total Stockholders' Equity (Deficit)	    (926,116)	    (880,847)
					      -------        -------
Total Liabilities and Stockholders'
(Deficit)				$      4,007           4,306
					      -------        -------

The accompanying notes are an integral part of the financial statements



					1





FORMCAP CORP
(FORMERLY : GRAVITAS INTERNATIONAL, INC.)
(a development stage company)
Statements Of Operations for the three months and six months ended
June 30, 2009 and 2008 and for the period April 10, 1991 (Inception)
to June 30, 2009
(U.S. Dollars )
(Unaudited)

								       Inception
          			For the 3 months  For the 6 months   April 10,1991
      				ended June 30,	   endedJune 30,      to June 30,
				 2009	   2008	    2009    2008	2009

Revenue				  - 	     -       -        -         321,889
Cost of sale		          -	     -       -	      -		352,683

Gross profit 			  -          -       -        -	        (30,794)

Expenses
General and administrative $	   29        50      269      124     4,509,683
Consulting fees      	       (5,000)   15,000   50,000   30,000       125,000
Transfer agent fees 			  1,487  	    1,634         7,593
Filing fees 			            350             1,317         7,393
Exchange gain/loss					                     (2)
Legal fees						                  1,500
Accounting fees 		6,000     6,000   12,000   12,000        42,000
Audit fees			1,500     1,500    3,000    3,000  	 16,500
Research and development          -          - 			        213,374
Write off of notes receivable     -          - 			        201,152
Write off of acquisition deposit  -          - 			        412,672
Loss on sale of notes receivable  -          - 		                109,118
Write off of prepaid licenses     -          - 			        103,753
Inventory write off  	          -          -			         15,226
Depreciation and armortization    -          - 		                153,432
Royalty and licences fee 	  - 	     - 		                349,632

Total operating expenses   $    2,529    24,387   65,269   48,075     6,268,026

Operating loss  	       (2,529)  (24,387) (65,269) (48,075)   (6,298,820)

Other Income (Expenses)
Gain on settlement of debt        -          - 			         65,945
Non cash financing expense        -          -		               (222,697)
Write off capital assets          -          -		                (95,105)
Write off proprietary technology  -          - 		               (109,180)
Other       		          -          - 		               (246,749)
Interest        	          -          -		               (379,662)

Total other income (expenses)     -          -        -       -        (987,448)

Net loss for the year 	   $   (2,529)  (24,387) (65,269) (48,075)   (7,286,268)

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

Weighted average number of
 shares outstanding 	  41,286,519 160,641,464 81,652,242 160,570,430


   The accompanying notes are an integral part of the financial statements



					2





FORMCAP CORP
(FORMERLY : GRAVITAS INTERNATIONAL, INC.)
(a development stage company)
Statements Of Cash Flows for the six months ended June 30, 2009 and 2008
and for the period April 10, 1991 (Inception) to June 30, 2009
(U.S. Dollars )
(Unaudited)

								Inception
  			 		For the six months	April 10, 1991
     			         	ended June 30,		to June 30,
					2009	    2008	2009

Cash Flows (Used In) Provided By :

Operating Activities

 Net Loss 			$     (65,269)    (48,075) 	(7,286,268)

 Adjustments to reconcile net loss
 to net cash used in
 operating activities

Amortization 			          -          -             277,322
Interest expense in connection
with induced conversion   		  -          -		   262,032
Accrued interest converted to equity      -          - 		    16,348
Amortization of deferred finance charges  -          - 		     1,364
Gain / loss in exchange   		  -          -	          (120,814)
Write off on notes receivable 		  -          - 		   201,152
Gain on settlement of license payable     -          - 		   (65,000)
Write off acquisition deposits   	  -          - 		   412,672
Impairment write off     		  -          -		   281,938
Loss on sale of notes receivable          -          -		   109,118
Write off of prepaid licenses             -          - 		   103,753
Write off of inventory             	  -          -              66,200
Stock options issued for services         -          -		   509,977

 Changes in assets and liabilities

Accounts receivable 			  -          -		     3,203
Inventories             		  -          -		   (66,200)
Prepaid expenses and other
current assets   			  -         2,700	  (113,481)
Prepaid royalties            		  -          - 		   (99,980)
Accounts payable        	          -          - 		  (121,069)
Royalty and license fees and
accrued liabilities 			3,000       3,000	   208,765
Related party payables   	       41,970      39,846	   541,246
 				      ------------------------------------
				      (20,299)	   (2,529)      (4,877,722)
				      ------------------------------------
 Investing Activities

Acquisition deposits					          (431,000)
Principal payments on notes receivable                              44,117
Notes receivable advances				          (701,152)
Proceeds from sale of notes receivable			           350,000
Loan from shareholders					           600,000
Principal payments on loan from shareholders                      (600,000)
Purchase of capital assets				          (104,880)
Capitalized software expenditures			          (135,181)
				       -----------------------------------
				          -   	      -		  (978,096)
				       -----------------------------------



					3


 Financing Activities

Advances from related parties				           569,529
Stock issued for debt settlement          -           -          1,458,304
Proceeds from long-term obligations			           361,800
Proceeds from sale of preferred stock 			             3,000
Promissory for issuance of stock      120,000         -            (30,000)
Proceeds from sale of common stock
and stock options      		     (100,000) 	     5,000       3,493,242
  				       -----------------------------------
          			       20,000        5,000       5,855,875
				       -----------------------------------

Increase/(Decrease) in Cash             (299)        2,471             57

Cash, beginning              		 356         2,799            -
				        ----------------------------------
Cash, ending 		         $        57 	     5,270             57
				        ----------------------------------




   The accompanying notes are an integral part of the financial statements





					4






FORMCAP CORP.
(FORMERLY : GRAVITAS INTERNATIONAL, INC.)
(a development stage company)
Notes To The Financial Statements
June 30, 2009
(U.S. Dollars )
(Unaudited)


Note 1. General Organization And Business

FormCap Corp. (the "Company" or "FormCap") 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 WTAA, Inc., on September 24,
1999 to WTAA International, Inc., on December 6, 2001 to
Gravitas International, Inc., and finally to its current
name, FormCap Corp. on October 12, 2007.

On September 18, 2007, the Company merged the Florida
jurisdiction and the Nevada jurisdiction into one Nevada
jurisdiction.

These financial statements have been prepared in
accordance with generally accepted accounting principles
applicable to a going concern, which assumes that the
Company will be able to meet its obligations and continue
its operations for its next fiscal year. Realization
values may be substantially different from carrying values
as shown and these financial statements do not give effect
to adjustments that would be necessary to the carrying
values and classification of assets and liabilities should
the Company be unable to continue as a going concern. At
June 30, 2009, the Company had not yet achieved profitable
operations, has accumulated losses of $7,286,268 since
inception and expects to incur further losses in the
development of its business, of which cast substantial
doubt about the Company's ability to continue as a going
concern.


			5


The Company's ability to continue as a going concern is
dependent upon future profitable operations and/or the
necessary financing to meet its obligations and repay its
liabilities arising from normal business operations when
they come due. Management has obtained additional funds by
related parties advances, however there is no assurance
that this additional funding is adequate and further
funding may be necessary.

Note 2.  Significant Accounting Policies

These financial statements have been prepared in
accordance with generally accepted accounting principles
in the United States of America and are stated in US
dollars. Because a precise determination of many assets
and liabilities is dependent upon future events, the
preparation of financial statements for a period
necessarily involves the use of estimates which have been
made using careful judgment. Actual results may differ
from these estimates.

The financial statements have, in management's opinion,
been properly prepared within the framework of the
significant accounting policies summarized below :

(a)	Development Stage Company

The Company is a development stage company as defined in
the Statements of Financial Accounting Standards ("SFAS")
No. 7. The Company is devoting substantially all of its
present efforts to establish a new business and none of
its planned principal operations have commenced. All
losses accumulated since inception has been considered as
part of the Company's development stage activities.

(b)	Financial Instruments

The carrying values of cash, accounts receivable, accounts
payable, promissory notes payable and due to related
parties approximate fair value because of the short-term
nature of these instruments. Management is of the opinion
that the Company is not exposed to significant interest,
currency or credit risks arising from these financial
instruments.


			6


(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

In December 2004, the Financial Accounting Standards Board
issued FAS 123R "Share-Based Payment", a revision to FAS
123. FAS 123R replaces existing requirements under FAS 123
and APB 25, and requires public companies to recognize the
cost of employee services received in exchange for equity
instruments, based on the grant-date fair value of those
instruments, with limited exceptions. FAS 123R also
affects the pattern in which compensation cost is
recognized, the accounting for employee share purchase
plans, and the accounting for income tax effects of share-
based payment transactions. For small business filers, FAS
123R is effective for interim or annual periods beginning
after December 15, 2005. The Company adopted FAS 123R on
October 1, 2007.

(e)	Foreign Currency Translation

The Company translates foreign currency transactions and
balances to its reporting currency, United States Dollars,
in accordance with SFAS No. 52, "Foreign Currency
Translation". Monetary assets and liabilities are
translated into the functional currency at the exchange
rate in effect at the end of the year. Non-monetary assets
and liabilities are translated at the exchange rate
prevailing when the assets were acquired or the
liabilities assumed. Revenue and expenses are translated
at the rate approximating the rate of exchange on the
transaction date. All exchange gains and losses are
included in the determination of net income (loss) for the
year.


			7




(f)	Basic and Diluted Loss Per Share

The Company computes net loss per share in accordance with
SFAS No. 128, "Earnings per Share". SFAS 128 requires
presentation of both basic and diluted earnings per share
("ESP") on the face of the income statement. Basic loss
per share is computed by dividing the net loss available
to common shareholders by the weighted average number of
common shares outstanding during the year. Diluted ESP
gives effect to all dilative potential common shares
outstanding during the year including stock options, using
the treasury stock method, and convertible preferred
stock, using the if-converted method. In computing diluted
ESP, the average stock price for the year is used in
determining the number of shares assumed to be purchased
from the exercise of stock options or warrants. Diluted
ESP excludes all dilative potential common shares if their
effect is anti dilative.

(g)	Income Taxes

The Company follows SFAS no. 109, "Accounting for Income
Taxes" which requires the use of the asset and liability
method of accounting for income taxes. Under the asset and
liability method of SFAS 109, deferred tax assets and
liabilities are recognized for future tax consequences
attributable to temporary differences between the
financial statements carry amounts of existing assets and
liabilities and loss carry forwards and their respective
tax rates expected to apply to taxable income in the year
in which those temporary differences are expected to be
recovered or settled.

(h) Recently Issued Accounting Pronouncements
In May 2008, the Financial Accounting Standards Board
("FASB") issued Statement of Financial Accounting
Standards ("SFAS") No. 162, The Hierarchy of Generally
Accepted Accounting Principles. SFAS No. 162 identifies
the sources of accounting principles and the framework for
selecting the principles that are presented in conformity
with generally accepted accounting principles in the
United States. SFAS No. 162 is effective 60 days following
the Securities and Exchange Commission's approval of the
Public Company Accounting Oversight Board amendments to AU
Section 411, The Meaning of Present Fairly in Conformity


			8


with Generally Accepted Accounting Principles. The Company
does not believe SFAS No. 162 will have a material impact
on its financial statements.
In March 2008, the FASB issued SFAS No. 161, Disclosure
about Derivative Instruments and Hedging Activities, an
amendment of FASB Statement No. 133. SFAS No. 161 changes
the disclosure requirements for derivative instruments and
hedging activities. Entities are required to provide
enhanced disclosures about (a) how and why an entity uses
derivative instruments, (b) how derivative instruments and
related hedged items are accounted for under Statement No.
133 and its related interpretations and (c) how derivative
instruments and related hedged items affect an entity's
financial position, financial performance and cash flows.
SFAS No. 161 is effective for financial statements issued
for fiscal years and interim periods beginning after
November 15, 2008, with early application encouraged. The
Company does not believe SFAS No. 161 will have a material
impact on its financial statements.

In December 2007, the FASB issued SFAS No. 141(R),
Business Combinations. SFAS No. 141(R) retains the
fundamental requirements in SFAS No. 141, Business
Combinations, that the acquisition method of accounting be
used for all business combinations and for an acquirer to
be identified for each business combination. SFAS No.
141(R) requires an acquirer to recognize the assets
acquired, the liabilities assumed, and any noncontrolling
interest in the acquiree at the acquisition date, measured
at their fair values as of that date, with limited
exceptions specified in SFAS No. 141(R). In addition, SFAS
No. 141(R) requires acquisition costs and restructuring
costs that the acquirer expected but was not obligated to
incur to be recognized separately from the business
combination, therefore, expensed instead of part of the
purchase price allocation. SFAS No. 141(R) will be applied
prospectively to business combinations for which the
acquisition date is on or after the beginning of the first
annual reporting period beginning on or after December 15,
2008. Early adoption is prohibited. The Company expects to
adopt SFAS No. 141(R) to any business combinations with an
acquisition date on or after January 1, 2009. The Company
does not believe SFAS No. 141(R) will have a material
impact on its financial statements.


			9


In February 2007, the FASB issued SFAS No. 159, The Fair
Value Option for Financial Assets and Financial
Liabilities. SFAS No. 159 permits an entity to irrevocably
elect fair value on a contract-by-contract basis as the
initial and subsequent measurement attribute for many
financial assets and liabilities and certain other items
including insurance contracts. Entities electing the fair
value option would be required to recognize changes in fair
value in earnings and to expense upfront cost and fees
associated with the item for which the fair value option is
elected. SFAS No. 159 is effective for fiscal years
beginning after November 15, 2007. Early adoption is
permitted as of the beginning of a fiscal year that begins
on or before November 15, 2007, provided the entity also
elects to apply the provisions of SFAS No. 157, Fair Value
Measurements. The Company does not expect the adoption of
SFAS No. 159 to have a material impact on its financial
condition or results of operations.

Note 3. Common Stock

For The Six Months Ended June 30, 2009

Shares Subscriptions and retirement.

On March 3, 2009, the Company entered into an agreement to
issued 400,000 restricted shares in accordance with
Regulation 144 of the United States Securities Act at
$0.10 per share with Black Hawk Financial, Inc. for an
aggregate amount of $40,000 for consultation services
provided to the Company.

On March 3, 2009, 120,000,000 shares issued on October 16,
2007 on promissory notes were retired to treasury.

On May 11, 2009, 200,000 restricted shares issued on March
3, 2009, with Black Hawk Financial, Inc. were retired to
treasury.

On July 1, 2009, the Company entered into an agreement to
issued 2,000,000 restricted shares in accordance with
Regulation 144 of the United States Securities Act at
$0.10 per share with Duke Enterprises, LLC for an
aggregate amount of $200,000 for consultation services
provided to the Company.

			10


On July 15, 2009, the Company entered into an agreement to
issued 100,000 restricted shares in accordance with
Regulation 144 of the United States Securities Act at
$0.10 per share with Metropolis Acquisition Corporation
for an aggregate amount of $10,000 for consultation
services provided to the Company.

On July 21, 2009, the Company entered into an agreement to
issued 500,000 restricted shares in accordance with
Regulation 144 of the United States Securities Act at
$0.20 per share with Jim D. Romano for an aggregate amount
of $100,000 for consultation services provided to the
Company.

On July 21, 2009, the Company approved the issuance of
5,000,000 shares at $0.01 per share to settle amounts of
$50,000 of debt due to a debtor of the Company.

On July 31, 2009, 5,000,000 shares issued on October 16,
2007 on promissory notes were retired to treasury.

Note 4. Related Parties Accounts

On June 30, 2009, $783,298 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.

Note 5. 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 negotiating
settlements of these liabilities as it is no longer in
this line of business.

Note 6. 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.


			11






At June 30, 2009, the Company had deficits accumulated
during the development stage of $7,286,268 available to
offset future taxable income.




			12




PART I

   This Interim Report on Form 10-Q contains forward-looking
statements that have been made pursuant to the provisions of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934, and the Private Securities
Litigation Reform Act of 1995 and concern matters that involve
risks and uncertainties that could cause actual results to differ
materially from historical results or from those projected in the
forward-looking statements. Discussions containing forward-looking
statements may be found in the material set forth under "Business,"
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" and in other sections of this Form 10-Q.
Words such as "may," "will," "should," "could," "expect," "plan,"
"anticipate," "believe," "estimate," "predict," "potential,"
"continue" or similar words are intended to identify forward-looking
statements, although not all forward-looking statements contain
these words. Although we believe that our opinions and expectations
reflected in the forward-looking statements are reasonable as of the
date of this Report, we cannot guarantee future results, levels of
activity, performance or achievements, and our actual results may
differ substantially from the views and expectations set forth in
this Interim Report on Form 10-Q. We expressly disclaim any intent
or obligation to update any forward-looking statements after the
date hereof to conform such statements to actual results or to
changes in our opinions or expectations.

   Readers should carefully review and consider the various
disclosures made by us in this Report, set forth in detail in
Part I, under the heading "Risk Factors," as well as those
additional risks described in other documents we file from time to
time with the Securities and Exchange Commission, which attempt to
advise interested parties of the risks, uncertainties, and other
factors that affect our business. We undertake no obligation to
publicly release the results of any revisions to any forward-looking
statements to reflect anticipated or unanticipated events or
circumstances occurring after the date of such statements.



			13






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

General

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 acceptance terms. The Company's
continued existence as a going concern is ultimately
dependent upon its ability to secure additional
funding.

Operation

The Company has not been active since November 2003.
The losses for the six months ended June 30, 2009 was
$62,269 for consulting, accounting, filing, general
and administrative expenses. There was no revenue for
those periods stated above.

Plan of Operation and joint venture agreements

We currently have minimal cash reserves and a
significant working capital deficit. Accordingly, our
ability to pursue our plan of operations is contingent
on our being able to obtain funding for the
development of our projects.

On March 11, 2009, the Company had signed a Joint
Venture Development and Operating Agreement with
MLXjet, Inc and Mixed Media Corp, both of Vancouver
B.C.

The ownership and revenue interests of the Parties
under this Joint Venture shall be a 60% (sixty
percent) interest to FormCap and a 40% (forty percent)
interest to MLXjet Inc. FormCap shall be the operator
and/or manager of the JV Assets and the Joint Venture.


			14


The Assets of MLXjet Assets and FormCap are to be
owned and operated jointly as the Joint Venture. The
Joint Venture will develop the Business of MLXjet in
Canada, United States and Mexico, in accordance with
the MLX/FABUSEND business plan, and share the Revenues
of the Joint Venture.

On July 17, 2009, FormCap announces cancellation of
Joint Venture agreement with MLXjet, Inc. and MLXjet
Media Corp.

On July 8, 2009, the Company had signed an option
agreement with Morgan Creek Energy Corp. to acquire up
to a 50% Working Interest (40.75% Net Revenue
Interest) in Morgan Creeks' approximately 13,000 acre
entire Frio Draw Prospect located in Curry County, New
Mexico. Under the terms of the agreement, FormCap is
required to drill and complete two mutually defined
targets on the acreage to earn its interest.

Following the initial two wells, Morgan Creeks'
management and land team will work with FormCap to
establish additional targets on the Frio draw based on
technical data and drill results. The two companies
will jointly fund additional targets and have
committed to a minimum five holes drill program in
order to effectively test the Frio Draw.

Morgan Creek Energy Corp. is a natural resources
exploration company engaged in the acquisition and
development of strategic oil and natural gas
properties.

Liquidity and Financial Resources

The Company remains in the development stage.
Operations were financed through advances and loans
from directors and related parties. The directors and
related parties have also advanced funds into the
Company to cover cash flow deficiencies. These
advances have no stated repayment terms.


			15


The Company's financial statements are presented on a
going concern basis, which contemplates the
realization of assets and the satisfaction of
liabilities in the normal course of business. At June
30, 2009, we have been unsuccessful in our efforts to
raise additional capital to meet our plan of
operations. Our cash position as of June 30, 2009 was
$57. We have accumulated operating losses of
$7,286,268.

Critical Accounting Policies

The Company's discussion and analysis of its financial
condition and results of operations are based upon the
Company's financial statements, which have been
prepared in accordance with accounting principles
generally accepted in the United States of America.
The preparation of the financial statements requires
the Company to make estimates and judgments that
affect the reported amount of assets, liabilities, and
expenses, and related disclosures of contingent assets
and liabilities. On an on-going basis, the Company
evaluates its estimates, including those related to
intangible assets, income taxes and contingencies and
litigation. The Company bases its estimates on
historical experience and on various assumptions that
are believed to be reasonable under the circumstances,
the results of which form the basis for making
judgments about carrying values of assets and
liabilities that are not readily apparent from other
sources. Actual results may differ from these
estimates under different assumptions or conditions.

NEW ACCOUNTING PRONOUNCEMENTS

In July 2001, the Financial Accounting Standards Board
issued Statement of Financial Accounting Standards No.
141, Business Combinations, and Statement of Financial
Accounting Standards No. 142, Goodwill and Other
Intangible Assets. They also issued Statement of
Financial Accounting Standards No. 143, Accounting for
Obligations Associated with the Retirement of Long-Lived
Assets, and Statement of Financial Accounting Standards
No. 144, Accounting for the Impairment or Disposal of

			16


Long-Lived Assets, in August and October 2001,
respectively. SFAS 141 requires all business
combinations initiated after June 30, 2001 to be
accounted for under the purchase method. SFAS 141
supersedes APB Opinion No. 16, Business Combinations,
and Statement of Financial Accounting Standards No. 38,
Accounting for Pre-acquisition Contingencies of
Purchased Enterprises, and is effective for all business
combinations initiated after June 30, 2001.

SFAS No. 142 addresses the financial accounting and
reporting for acquired goodwill and other intangible
assets. Under the new rules, the Company is no longer
required to amortize goodwill and other intangible
assets with indefinite lives, but will be subject to
periodic testing for impairment. SFAS 142 supersedes APB
Opinion No. 17, Intangible Assets. The Company's
operational policy for the assessment and measurement of
any impairment in the value of goodwill and intangible
assets, which primarily relates to contract-based
intangibles such as license agreements and extensions,
is to evaluate annually, the recoverability and
remaining life of its intangible assets to determine the
fair value of these assets.  The methodologies to be
used to estimate fair value include the use of estimates
and assumptions, including projected revenues, earnings
and cash flows.  If the fair value of any of these
assets is determined to be less than its carrying value,
the Company will reflect the impairment of any such
asset over its appraised value.

SFAS No. 143 establishes accounting standards for the
recognition and measurement of an asset retirement
obligation and its associated asset retirement cost. It
also provides accounting guidance for legal obligations
associated with the retirement of tangible long-lived
assets. SFAS 143 is effective in fiscal years beginning
after June 15, 2002, with early adoption permitted. The
adoption of SFAS No. 143 is not expected to have a
material impact on the Company's financial statements.

SFAS 144 establishes a single accounting model for the
impairment or disposal of long-lived assets, including
discontinued operations. SFAS 144 superseded Statement


			17


of Financial Accounting Standards No. 121, Accounting
for the Impairment of Long-Lived Assets and for Long-
Lived Assets to Be Disposed Of (SFAS 121), and APB
Opinion No. 30, Reporting the Results of Operations--
Reporting the Effects of Disposal of a Segment of a
Business, and Extraordinary, Unusual and Infrequently
Occurring Events and Transactions. The provisions of
SFAS 144 are effective in fiscal years beginning after
December 15, 2001, with early adoption permitted, and in
general are to be applied prospectively. The Company
records impairment losses on long lived assets used in
operations when indicators of impairment are present and
the undiscounted cash flows estimated to be generated by
those assets are less than the asset's carrying amount.
In such cases, the amount of the impairment is
determined on the relative values of the impaired
assets.

Financial Accounting Standards Board Interpretation No.
46, Consolidation of Variable Interest Entities, an
interpretation of Accounting Research Bulletin No. 51,
Financial Statements, addresses consolidation by business
enterprises of variable interest entities. It is
effective immediately for variable interest entities
created after January 31, 2003. It applies in the first
fiscal year or interim period beginning after June 15,
2003, to variable interest entities acquired before
February 1, 2003. The implementation of Interpretation
No. 46 did not have a material effect on the Company's
financial statements.

SFAS No. 149, Amendment of Statement 133 on Derivative
Instruments and Hedging Activities, amends and clarifies
accounting for derivative instruments under SFAS No. 133.
It is effective for contracts entered into after June 30,
2003. The impact of adoption of this statement is not
expected to be significant.

SFAS No. 150, Accounting for Certain Financial
Instruments with Characteristics of both Liabilities and
Equity, establishes standards for how an issuer
classifies and measures certain financial instruments
with characteristics of both liability and equity. It
requires that an issuer classify a financial instrument

			18


that is within its scope as a liability (or an asset in
some circumstances). This statement is effective for
financial instruments entered into or modified after May
31, 2003, and otherwise is effective at the beginning of
the first interim period beginning after June 15, 2003.
The impact of adoption of this statement is not expected
to be significant.

In December 2004, the FASB issued SFAS 153, Exchanges of
Non-monetary Assets, an amendment of APB No. 29,
Accounting for Non-monetary Transactions. SFAS 153
requires exchanges of productive assets to be accounted
for at fair value, rather than at carryover basis,
unless (1) neither the asset received nor the asset
surrendered has a fair value that is determinable
within reasonable limits or (2) the transactions lack
commercial substance. SFAS 153 is effective for non-
monetary asset exchanges occurring in fiscal periods
beginning after June 15, 2005. The Company does not
expect the adoption of this standard to have a material
effect on its financial position,
results of operations or cash flows.

In December 2004, the FASB issued Statement 123 (revised
2004) which is a revision of FASB Statement No. 123,
Accounting for Stock-Based Compensation.  This Statement
supersedes APB Opinion No. 25, Accounting for Stock
Issued to Employees, and its related implementation
guidance. This Statement establishes standards for the
accounting for transactions in which an entity exchanges
its equity instruments for goods or services.
It also addresses transactions in which an entity incurs
liabilities in exchange for goods or services that are
based on the fair value of the entity's equity
instruments or that may be settled by the issuance of
those equity instruments. This Statement focuses
primarily on accounting for transactions in which an
entity obtains services in share-based payment
transactions. This Statement requires a public entity to
measure the cost of services received in exchange for an
award of equity instruments based on the grant-date fair
value of the award (with limited exceptions). That cost
will be recognized over the period during which an
employee is required to provide service in exchange for
the award the requisite service period (usually the
vesting period).


			19


Item 3. Quantitative and Qualitative Disclosures About
Market Risk.

The Company at present does not engage in any business
activities thus will not be subjected to any
quantitative or qualitative influences to market risk.

Item 4T. Controls and Procedures.

The Company's Chief Executive Officer and its Chief
Financial Officer are primarily responsible for the
accuracy of the financial information that is presented
in this quarterly Report.  These officers have as of the
close of the period covered by this Quarterly Report,
evaluated the Company's disclosure controls and
procedures (as defined in Rules 13a-4c and 15d-14c
promulgated under the Securities Exchange Act of 1934 and
determined that such controls and procedures were
effective in ensuring that material information relating
to the Company was made known to them during the period
covered by this Quarterly Report.

There have been no changes in our internal control over
financial reporting (as defined in Rules 13a-15(f) and
15d-15(f) under the Exchange Act) during the fourth
quarter of our 2008 fiscal year that have materially
affected, or are reasonably likely to materially affect,
our internal control over financial reporting.


PART II

Item 1.  Legal Proceedings.

On May 21, 2009, the Company received a Writ of Summons
from Robert D. Holmes Law Corporation and Terrence E.
King Law Corporation, the "Plaintiffs" and William
McKay, Jupiter Capital Ltd., Jupiter Capital Ventures,
Inc., Barron Energy Corporation, Media Games Ltd.,
Brandgamz Marketing Inc., FormCap Corp. and Snap-Email,
Inc., the "Defendants". The claim against FormCap Corp.
in the amount of C$61,452.56 together with interest at
the rate of 18% per annum thereon from and after October
1, 2007. On June 9, 2009, the Company's related parties

			20


who took over the debt of the company as per the
agreement dated November 7, 2006, have made a settlement
with the "Plaintiffs" and have agreed to file a
discontinuance of claims made against FormCap.

Item 1A. Risk Factors

The Company at present does not engage in any business
activities thus will not be subjected to any risk.

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

On March 3, 2009, the Company entered into an
agreement to issued 400,000 restricted shares in
accordance with Regulation 144 of the United States
Securities Act at $0.10 per share with Black Hawk
Financial, Inc. for an aggregate amount of $40,000 for
consultation services provided to the Company.

On March 3, 2009, 120,000,000 shares issued on October
16, 2007 on promissory notes were retired to treasury.

On May 11, 2009, 200,000 restricted shares issued on
March 3, 2009, with Black Hawk Financial, Inc. were
retired to treasury.

On July 1, 2009, the Company entered into an agreement
to issued 2,000,000 restricted shares in accordance
with Regulation 144 of the United States Securities
Act at $0.10 per share with Duke Enterprises, LLC for
an aggregate amount of $200,000 for consultation
services provided to the Company.

On July 15, 2009, the Company entered into an
agreement to issued 100,000 restricted shares in
accordance with Regulation 144 of the United States
Securities Act at $0.10 per share with Metropolis
Acquisition Corporation for an aggregate amount of
$10,000 for consultation services provided to the
Company.

On July 21, 2009, the Company entered into an
agreement to issued 500,000 restricted shares in

			21


accordance with Regulation 144 of the United States
Securities Act at $0.20 per share with Jim D. Romano
for an aggregate amount of $100,000 for consultation
services provided to the Company.

On July 21, 2009, the Company approved the issuance of
5,000,000 shares at $0.01 per share to settle amounts
of $50,000 of debt due to a debtor of the Company.

On July 31, 2009, 5,000,000 shares issued on October
16, 2007 on promissory notes were retired to treasury.

Item 3. Defaults Upon Senior Securities.

Not Applicable.

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

Not Applicable.

Item 5. Other Information.

None





			22



Item 6.  Exhibits

31.1  Certification of the Chief Executive Officer pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002, filed
herewith.

31.2  Certification of the Chief Financial Officer pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002, filed
herewith.

32.1 Certification of the Chief Executive Officer pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, filed
herewith.

32.1 Certification of the Chief Financial Officer pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, filed
herewith.

SIGNATURES

In accordance with the Securities Exchange Act of 1934,
this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on
the dates indicated.

Dated:  August 20, 2009
                             FORMCAP CORP.


      			By: /S/ Graham Douglas

			       Graham Douglas
                            Chief Executive Officer
                                 & Director



      			By: /S/ Michael Lee

				Michael lee
			Chief Accounting Officer



			23




Exhibit 31.01

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO
RULE 13A-14(A) OF THE SECURITIES EXCHANGE ACT AND
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Graham Douglas, Director and Chief Executive Officer of FormCap Corp.
 certify that :

1.  I have reviewed this Quarterly Report on Form 10-Q of FormCap Corp. ;

2.  Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in  light of the circumstances under which
such statements were made, not misleading with  respect to the period
covered by this report;

3.  Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the periods presented in this report;

4.  The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and have :

a.  Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

b.  Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to providereasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for
external purpose in accordance with general accepted accounting principles;

c.  Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the end of
the period covered by this report based on such evaluation; and

d.  Disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's
most recent fiscal quarter (the registrant's fourth fiscal quarter in the
case of an annual report) that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over financial
reporting.

				24


5.  The registrant's other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over financial
reporting, to the registrant's auditors and the audit committee of the
registrant's board of directors (or persons performing the equivalent
functions ):

a.  All significant deficiencies and material weaknesses in the design
or operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant's ability to record,
process, summarized and report financial information; and

b.  Any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
control over financial reporting.


Dated : August 20, 2009        Signature : /s/   Graham Douglas
                                           --------------------
                                              Graham Douglas
                                 Director and Chief Executive Officer











				25




Exhibit 31.02

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO
RULE 13A-14(A) OF THE SECURITIES EXCHANGE ACT AND
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael Lee,  Chief Accounting Officer of FormCap Corp.
 certify that :

1.  I have reviewed this Quarterly Report on Form 10-Q of FormCap Corp. ;

2.  Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary
to make the statements made, in  light of the circumstances under which
such statements were made, not misleading with  respect to the period
covered by this report;

3.  Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;

4.  The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over
financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
for the registrant and have :

a.  Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

b.  Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purpose in accordance with general accepted accounting principles;

c.  Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the end of
the period covered by this report based on such evaluation; and

d.  Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter (the registrant's fourth fiscal quarter in the case of an
annual report) that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial
reporting.


				26



5.  The registrant's other certifying officer and I have disclosed, based
on our most recent evaluation of internal control over financial reporting,
to the registrant's auditors and the audit committee of the registrant's
board of directors (or persons performing the equivalent functions ):

a.  All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarized and report financial information; and

b.  Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.


    Dated : August 20, 2009        Signature : /s/   Michael Lee
                                                 ---------------
                                                     Michael Lee
                                             Chief Accounting Officer










				27




EXHIBIT 32 .01

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED
PURSUANT TO SECTION
906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of FormCap Corp. (the "Company") on
Form 10-Q for the period ended June 30, 2009 as filed with the Securities and
Exchange Commission on the date hereof (the "Report"),

I, Graham Douglas, Chief Executive Officer of the  Company,  certify,  pursuant
to 18 U.S.C. Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-
Oxley Act of 2002, that to the best of my knowledge:

 (1) The Report fully complies with the  requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

 (2) The  information  contained in the Report  fairly  presents,  in all
material  respects,  the  financial  condition  and result of  operations
of the Company.

                                      /s/ Graham Douglas
                                          --------------
                                          Graham Douglas
                                    Chief Executive Officer

August 20, 2009









				28





EXHIBIT 32 .02

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED
PURSUANT TO SECTION
906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of FormCap Corp. (the "Company") on
Form 10-Q for the period ended June 30, 2009 as filed with the Securities and
Exchange Commission on the date hereof (the "Report"),

I, Michael Lee, Chief Accounting Officer of the  Company,  certify,  pursuant
to 18 U.S.C. Section 1350, as adopted  pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

 (1) The Report fully complies with the  requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

 (2) The  information  contained in the Report  fairly  presents,  in all
material  respects,  the  financial  condition  and result of  operations
of the Company.

                                         /s/ Michael Lee
                                          ----------------
                                             Michael Lee
                                           Chief Accounting Officer
August 20, 2009





				29