| | Form 10-QSB | 
| | ----------- | 

|
|

| | SECURITIES AND EXCHANGE COMMISSION Washington, D.C. | 
| | --------------------------------------------------- | 

|
|

| | [ X ] Quarterly Report Pursuant to Section 13 or 15(d) of the
      Securities Exchange Act of 1934 For the quarterly period ended March 31,
      2005 | 
| | ------------------------------------------------------------------------------------------------------------------------------------------------------- | 

|OR
|--

| | [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
      Exchange Act of 1934 For the transition period from _______ to
    _______. | 
| | --------------------------------------------------------------------------------------------------------------------------------------------------------- | 

|
|

| | Commission File No. 0-29417 | 
| | --------------------------- | 

|
|

| | ICrystal, Inc.                                                    | 
| | ----------------------------------------------------------------- | 
| | (Exact Name of Small Business Issuer as Specified in its
Charter) | 

| | DELAWARE |  | 62-1581902 | 
| | -------- |  | ---------- | 

| | (State or Other Jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification Number) | 
| | -------------------------------------------------------------- |  | --------------------------------------- | 

| | 5555 Hilton Avenue, Suite 207, Baton Rouge, Louisiana 70808 | 
| | ----------------------------------------------------------- | 

| | (Address of Principal Executive Offices, including Zip Code) | 
| | ------------------------------------------------------------ | 

| | (225) 923-1034 | 
| | -------------- | 

| | (Issuerâ€TMs telephone number, including area code) | 
| | -------------------------------------------------- | 

|
|

|Indicate by check mark whether Registrant (1) has filed all reports
      required to be filed by Section 13 or 15(d) of the Securities Exchange Act
      of 1934 during the preceding 12 months (or for such shorter period that
      Registrant as required to file such reports), and (2) has been subject to
      such filing requirements for the past 90 days: Yes [ ] No
[X]
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Indicate the number of shares outstanding of each of the issuerâ€TMs
      classes of common stock as of the latest practicable date:
|------------------------------------------------------------------------------------------------------------------------------------

| | Class |  | Outstanding as of 5-19-05 | 
| | ----- |  | ------------------------- | 

| | Common Stock, $.01 par value |  | 1,998,852 | 
| | ---------------------------- |  | --------- | 

|PART I - FINANCIAL INFORMATION
|------------------------------

|Item 1. Financial Statements. | 
|----------------------------- | 

|INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
|------------------------------------------
|ICrystal, Inc. and Subsidiary             

| |  | Page
| |  | ----

| | Consolidated Balance Sheet as of March 31, 2005 (unaudited) | 3
| | ----------------------------------------------------------- | -

| | Consolidated Statements of Income and Operations for the Three Months
      Ended March 31, 2005 and 2004 (unaudited) | 4
| | --------------------------------------------------------------------------------------------------------------------- | -

| | Consolidated Statements of Cash Flows for the Three Months Ended March
      31, 2005 and 2004 (unaudited) | 5
| | ---------------------------------------------------------------------------------------------------------- | -

| | Notes to Interim Financial Statements | 7
| | ------------------------------------- | -

| | ICRYSTAL, INC. AND SUBSIDIARY | 
| | ----------------------------- | 

|
|

| | CONSOLIDATED BALANCE SHEET | 
| | -------------------------- | 

| | March 31, 2005 (unaudited) | 
| | -------------------------- | 

|ASSETS
|------

|CURRENT ASSETS |  | 
|-------------- |  | 

| | Cash | $3,988 | 
| | ---- | ------ | 

| | Total Current Assets | 3,988 | 
| | -------------------- | ----- | 

|
|

|LIABILITIES AND STOCKHOLDERS' EQUITY
|------------------------------------

|CURRENT LIABILITIES |  | 
|------------------- |  | 

| | Accounts payable | $10,000 | 
| | ---------------- | ------- | 

| | Related party payable | 27,000 | 
| | --------------------- | ------ | 

| | Total current liabilities | 37,000 | 
| | ------------------------- | ------ | 

|STOCKHOLDERSâ€TM DEFICIT |  | 
|----------------------- |  | 

| | Common stock, $.01 par value; 30,000,000 shares authorized, 1,760,752
      shares issued and outstanding | 17,608 | 
| | --------------------------------------------------------------------------------------------------------- | ------ | 

| | Additional paid-in capital | 6,680,932 | 
| | -------------------------- | --------- | 

| | Accumulated deficit | (6,731,552) | 
| | ------------------- | ----------- | 

| | Total Stockholders' Deficit | (33,012) | 
| | --------------------------- | -------- | 

| | Total Liabilities and Stockholdersâ€TM Deficit | $3,988 | 
| | --------------------------------------------- | ------ | 

|
|

|The accompanying notes are an integral part of these
  statements.
|------------------------------------------------------------------

| | ICRYSTAL, INC. AND SUBSIDIARY | 
| | ----------------------------- | 

|
|

| | CONSOLIDATED STATEMENT OF OPERATIONS | 
| | ------------------------------------ | 

| | For the Three Months Ended March 31, 2005 and 2004 (unaudited) | 
| | -------------------------------------------------------------- | 

| |  |  | Three Months Ended March 31,
| |  |  | ----------------------------

| |  |  |  |  | 2005 |  | 2004
| |  |  |  |  | ---- |  | ----

|Operating Costs and Expenses |  |  |  |  |  |  | 
|---------------------------- |  |  |  |  |  |  | 

| | Impairment loss |  |  |  |  | 0 |  | 0
| | --------------- |  |  |  |  | - |  | -

|Net profit (loss) from operations |  |  |  |  | 0 |  | 0
|--------------------------------- |  |  |  |  | - |  | -

|Net profit (loss) before income taxes |  |  |  |  | 0 |  | 0
|------------------------------------- |  |  |  |  | - |  | -

|Provision for income taxes |  |  |  |  | 0 |  | 0
|-------------------------- |  |  |  |  | - |  | -

|Loss from continuing operations |  |  |  |  | 0 |  | 0
|------------------------------- |  |  |  |  | - |  | -

|Net income (loss) |  |  |  |  | $0 |  | $0
|----------------- |  |  |  |  | -- |  | --

|
|

|Income (loss) per share |  |  |  |  | $0.00 |  | $0.00
|----------------------- |  |  |  |  | ----- |  | -----

|Weighted average common shares outstanding (basic and diluted) |  |  |  |  | 1,760,752 |  | 1,160,752
|-------------------------------------------------------------- |  |  |  |  | --------- |  | ---------

|
|

|The accompanying notes are an integral part of these
  statements.
|------------------------------------------------------------------

| | ICRYSTAL, INC. | 
| | -------------- | 

|
|

| | CONSOLIDATED STATEMENT OF CASH FLOWS | 
| | ------------------------------------ | 

| | For the Three Months Ended March 31, 2005 and 2004 (unaudited) | 
| | -------------------------------------------------------------- | 

|
|

| | Three Months Ended March 31,
| | ----------------------------

| | 2005 |  | 2004
| | ---- |  | ----

|CASH FLOWS FROM OPERATING ACTIVITIES: |  |  | 
|------------------------------------- |  |  | 

|Net income (loss) | $0 |  | $0
|----------------- | -- |  | --

| | Adjustments to reconcile net loss to cash used in operating
      activities: |  |  | 
| | ----------------------------------------------------------------------------- |  |  | 

| | Impairment loss and write-down of assets | 0 |  | 0
| | ---------------------------------------- | - |  | -

|CASH FLOWS USED IN OPERATING ACTIVITIES | 0 |  | 0
|--------------------------------------- | - |  | -

|
|

|CASH FLOWS FROM INVESTING ACTIVITIES: |  |  | 
|------------------------------------- |  |  | 

|CASH FLOWS USED IN INVESTING ACTIVITIES | 0 |  | 0
|--------------------------------------- | - |  | -

|
|

|CASH FLOWS FROM FINANCING ACTIVITIES: |  |  | 
|------------------------------------- |  |  | 

|CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 0 |  | 0
|------------------------------------------- | - |  | -

|
|

|NET INCREASE (DECREASE) IN CASH | 0 |  | 0
|------------------------------- | - |  | -

|Cash, beginning of period | 3,988 |  | 3,988
|------------------------- | ----- |  | -----

|Cash, end of period | $3,988 |  | $3,988
|------------------- | ------ |  | ------

|
|

|Supplementary Information
|-------------------------

| | Income taxes paid | $0 |  | $0
| | ----------------- | -- |  | --

| | Interest paid | $0 |  | $0
| | ------------- | -- |  | --

|
|

|The accompanying notes are an integral part of these
  statements.
|------------------------------------------------------------------

| | ICRYSTAL, INC. AND SUBSIDIARY | 
| | ----------------------------- | 

|
|

| | NOTES TO INTERIM FINANCIAL STATEMENTS | 
| | ------------------------------------- | 

| | March 31, 2005 (unaudited) | 
| | -------------------------- | 

|
|

|1. Summary of Significant Accounting Policies | 
|--------------------------------------------- | 

|Basis of Presentation | 
|--------------------- | 

|The accompanying unaudited interim financial statements of iCrystal,
      Inc. (the â€œCompanyâ€) have been prepared by the Company in accordance with
      accounting principles generally accepted in the United States of America,
      pursuant to the Securities and Exchange Commission rules and regulations.
      In managementâ€TMs opinion all adjustments necessary for a fair presentation
      of the results for interim periods have been reflected in the interim
      financial statements. The results of operations for any interim period are
      not necessarily indicative of the results for a full year. All adjustments
      to the financial statements are of a normal recurring nature.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Certain information and footnote disclosures normally included in
      financial statements prepared in accordance with generally accepted
      accounting principles have been condensed or omitted. Such disclosures are
      those that would substantially duplicate information contained in the most
      recent audited financial statements of the Company, such as significant
      accounting policies and stock options. Management presumes that users of
      the interim statements have read or have access to the audited financial
      statements and notes thereto included in the Companyâ€TMs most recent annual
      report on Form 10-KSB.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|These financial statements have been prepared assuming that the Company
      will continue as a going concern. The Company has sustained recurring
      losses over the past years. In the event that future operating cash flows
      do not meet all of the Companyâ€TMs cash requirements, it will need to obtain
      additional financing in the form of private placements of debt or equity
      securities. Success in raising additional financing is dependent on the
      Companyâ€TMs ability to demonstrate that it can fulfil its business strategy
      to provide consulting services to online gaming operators. Should the
      Company need financing through debt or equity placements, there is no
      assurance that such financing will be available, if at all, at terms
      acceptable to the Company.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. Reverse Stock Split | 
|---------------------- | 

|Effective September 10, 2004, the outstanding common stock of the
      Company was reverse split on a one-for-seventeen basis. The per share data
      in the Companyâ€TMs statements of operations has been adjusted to reflect
      this reverse stock split.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. Amended and Restated Certificate of Incorporation | 
|---------------------------------------------------- | 

|In August 2004, the Company filed an amended and restated certificate
      of incorporation, increasing the amount of shares authorized to 80,000,000
      shares of common stock and 20,000,000 shares of preferred
stock.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. Stock Purchase Plan | 
|---------------------- | 

|In August 2004, the Board of Directors approved and initiated a stock
      purchase plan, under which 25,000,000 shares of its common stock will be
      available for grant. During the three months ended September 30, 2004, the
      Company issued a total of 500,000 under the stock purchase
plan.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. Potential Acquisition | 
|------------------------ | 

|On October 6, 2004, the Company entered into an agreement and plan of
      reorganization, whereby it is to acquire Fat Katz Music, LLC, a Baton
      Rouge, Louisiana-based guitar and music retailer. Pursuant to the
      reorganization agreement, Fat Katz Music is to be acquired by issuing a
      total of 13,500,000 shares of Company common stock to the owners of Fat
      Katz Music. In determining the number of shares of our common stock to be
      issued to the owners of Fat Katz Music, the Companyâ€TMs board of directors
      did not employ any standard valuation formula or any other standard
      measure of value. Fat Katz Music is a company that is majority-owned by
      the Companyâ€TMs president, David Loflin.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Item 2. Managementâ€TMs Discussion and Analysis of Financial Condition and
      Results of Operations. | 
|------------------------------------------------------------------------------------------------------ | 

|As of the date of this Quarterly Report on Form 10-QSB, our independent
      auditor had not reviewed the financial statements included
  herein.
|--------------------------------------------------------------------------------------------------------------------------------------------------

|Background. | 
|----------- | 

|On June 7, 2004, there occurred a change in control of ICrystal, Inc.
      Pursuant to an amended and restated stock purchase agreement, Woodstock
      Investments, LLC, a Louisiana limited liability company, purchased
      10,244,000 shares, or 51.91%, of our outstanding common stock from
      existing shareholders.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|At the time of Woodstock Investmentsâ€TM acquiring control, a majority of
      our shareholders, acting by written consent in lieu of a meeting, removed
      our then-directors and elected David Loflin and Waddell D. Loflin as our
      directors.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Current Plan of Operation. | 
|-------------------------- | 

|On October 6, 2004, the Company entered into an agreement and plan of
      reorganization, whereby it is to acquire Fat Katz Music, LLC, a Baton
      Rouge, Louisiana-based guitar and music retailer. Pursuant to the
      reorganization agreement, Fat Katz Music is to be acquired by issuing a
      total of 13,500,000 shares of Company common stock to the owners of Fat
      Katz Music. In determining the number of shares of our common stock to be
      issued to the owners of Fat Katz Music, our board of directors did not
      employ any standard valuation formula or any other standard measure of
      value.Fat Katz Music is a company that is majority-owned by our president,
      David Loflin. Mr. Loflin, including members of his household, will be
      issued a total of 7,500,000 shares of our common stock, pursuant to the
      reorganization agreement. Mr. Loflinâ€TMs ownership, following the
      consummation of the reorganization agreement, Mr. Loflin will possess
      voting control as to approximately 50% of our then-outstanding common
      stock.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Prior to our consummating the acquisition of Fat Katz Music, we must
      obtain the consent of a majority of our shareholders. In the very near
      future, we intend to initiate the filing of an information statement with
      the SEC, for delivery to our shareholders, relating to the acquisition of
      Fat Katz Music, among other matters.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|

|PART II - OTHER INFORMATION
|---------------------------

|Item 1. Legal Proceedings. | 
|-------------------------- | 

|We are not currently involved in any legal proceeding.
|------------------------------------------------------

|Item 2. Changes in Securities. | 
|------------------------------ | 

None.


|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. | 
|----------------------------------------- | 

|(a) Exhibits. | 
|------------- | 

| | Exhibit No. |  | Description | 
| | ----------- |  | ----------- | 

| | 31.1 |  | Certification of Chief Executive Officer required by Rule 13a-14(a) or
      Rule 15d-14(b) | 
| | ---- |  | ------------------------------------------------------------------------------------------- | 

| | 31.2 |  | Certification of Chief Accounting Officer required by Rule 13a-14(a) or
      Rule 15d-14(b) | 
| | ---- |  | -------------------------------------------------------------------------------------------- | 

| | 32.1 |  | Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section
      1350 | 
| | ---- |  | --------------------------------------------------------------------------------- | 

| | 32.2 |  | Certification of Chief Accounting Officer Pursuant to 18 U.S.C. Section
      1350 | 
| | ---- |  | ---------------------------------------------------------------------------------- | 

|(b) Reports on Form 8-K. | 
|------------------------ | 

| | During the three months ended March 31, 2005, we did not file a Current
      Report on Form 8-K.
| | -------------------------------------------------------------------------------------------------

|
|

|SIGNATURES
|----------

|In accordance with the requirements of the Securities Exchange Act of
      1934, Registrant has duly caused this report to be signed on its behalf by
      the undersigned, thereunto duly authorized.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|

|Date: May 23, 2005 | ICRYSTAL, INC.
|------------------ | --------------

|
|

| |  | By: | /s/ DAVID LOFLIN | 
| |  | --- | ---------------- | 

| | David Loflin | 
| | ------------ | 

| | President and Acting Chief Financial Officer [Principal Accounting
      Officer] | 
| | --------------------------------------------------------------------------------- |