| | 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 September 30, 2004 | 
| | ----------------------------------------------------------------------------------------------------------------------------------------------- | 

|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 | 
| | -------------- | 

| | (Issuers 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 [ X ] No [ ]
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Indicate the number of shares outstanding of each of the issuers classes of common stock as of the latest practicable date:
|----------------------------------------------------------------------------------------------------------------------------

| | Class |  | Outstanding as of 11-19-04 | 
| | ----- |  | -------------------------- | 

| | 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 September 30, 2004 (unaudited) | 3
| | --------------------------------------------------------------- | -

| | Consolidated Statements of Income and Operations the Three Months Ended September 30, 2004, and for the Nine Months Ended September 30, 2004 (unaudited) | 4
| | -------------------------------------------------------------------------------------------------------------------------------------------------------- | -

| | Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2004 (unaudited) | 5
| | ---------------------------------------------------------------------------------------------- | -

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

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

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

|ASSETS
|------

| | September 30, 2004 (unaudited) | 
| | ------------------------------ | 

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

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

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

|FIXED ASSETS |  | 
|------------ |  | 

| | Equipment | 6,116 | 
| | --------- | ----- | 

| | Furniture and fixtures | 11,428 | 
| | ---------------------- | ------ | 

| | Accumulated depreciation and amortization | (4,936) | 
| | ----------------------------------------- | ------- | 

| | Total Fixed Assets | 12,608 | 
| | ------------------ | ------ | 

| | Total Assets | $16,596 | 
| | ------------ | ------- | 

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

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

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

| | Notes payable | 27,000 | 
| | ------------- | ------ | 

| | Total Current and Total liabilities | 37,000 | 
| | ----------------------------------- | ------ | 

|COMMITMENTS AND CONTINGENCIES
|-----------------------------

|STOCKHOLDERS DEFICIT |  | 
|--------------------- |  | 

| | Preferred stock, $.01 par value, 20,000,000 shares authorized, no shares issued and outstanding | 0 | 
| | ----------------------------------------------------------------------------------------------- | - | 

| | Common stock, $.01 par value; 80,000,000 shares authorized, 1,660,752 shares issued and outstanding at September 30, 2004 | 16,607 | 
| | ------------------------------------------------------------------------------------------------------------------------- | ------ | 

| | Additional paid-in capital | 6,641,933 | 
| | -------------------------- | --------- | 

| | Accumulated deficit | (6,678,944) | 
| | ------------------- | ----------- | 

| | Total Stockholders' Deficit | (20,404) | 
| | --------------------------- | -------- | 

|Total Liabilities and Stockholders Deficit | $16,596 | 
|------------------------------------------- | ------- | 

|
|

|See Notes to the Interim Financial Statements.
|----------------------------------------------

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

| | CONSOLIDATED STATEMENTS OF INCOME AND OPERATIONS (UNAUDITED) | 
| | ------------------------------------------------------------ | 

| | Six Months Ended September 30, |  | Three Months Ended September 30,
| | ------------------------------ |  | --------------------------------

| | 2004 |  | 2003 |  | 2004 |  | 2003
| | ---- |  | ---- |  | ---- |  | ----

|Software royalties | $0 |  | $0 |  | $0 |  | $0
|------------------ | -- |  | -- |  | -- |  | --

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

| | General and administrative | 0 |  | 14,690 |  | 0 |  | 11,690
| | -------------------------- | - |  | ------ |  | - |  | ------

| | Research and development | 0 |  | 0 |  | 0 |  | 0
| | ------------------------ | - |  | - |  | - |  | -

| | Consulting | 255,000 |  | 45,000 |  | 255,000 |  | 15,000
| | ---------- | ------- |  | ------ |  | ------- |  | ------

| | Marketing expense | 0 |  | 0 |  | 0 |  | 0
| | ----------------- | - |  | - |  | - |  | -

| | Depreciation expense | 0 |  | 2,368 |  | 0 |  | 789
| | -------------------- | - |  | ----- |  | - |  | ---

|Net lost from operations | (255,000) |  | (62,058) |  | (255,000) |  | (27,479)
|------------------------ | --------- |  | -------- |  | --------- |  | --------

|Interest expense | 0 |  | 75 |  | 0 |  | 75
|---------------- | - |  | -- |  | - |  | --

|Net loss before income taxes | (255,000) |  | (62,133) |  | (255,000) |  | (27,554)
|---------------------------- | --------- |  | -------- |  | --------- |  | --------

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

|Loss from continuing operations | (255,000) |  | (62,133) |  | (255,000) |  | (27,554)
|------------------------------- | --------- |  | -------- |  | --------- |  | --------

|Discontinued operations: |  |  |  |  |  |  | 
|------------------------ |  |  |  |  |  |  | 

| | Gain from disposal of assets (net of income tax effect of $0) | 0 |  | 782,691 |  | 0 |  | 0
| | ------------------------------------------------------------- | - |  | ------- |  | - |  | -

| | Loss on disposal of discontinued operations (net of income tax effect of $0) | 0 |  | (45,649) |  | 0 |  | (67,936)
| | ---------------------------------------------------------------------------- | - |  | -------- |  | - |  | --------

|Net income (loss) | $(255,000) |  | $674,909 |  | $(255,000) |  | $(95,490)
|----------------- | ---------- |  | -------- |  | ---------- |  | ---------

|
|

|Income (loss) per share | $(0.21) |  | $.58 |  | $(0.18) |  | $(0.08)
|----------------------- | ------- |  | ---- |  | ------- |  | -------

|
|

|Weighted average common shares outstanding (basic and diluted) | 1,234,826 |  | 1,160,752 |  | 1,382,974 |  | 1,160,752
|-------------------------------------------------------------- | --------- |  | --------- |  | --------- |  | ---------

|
|

|See Notes to the Interim Financial Statements.
|----------------------------------------------

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

| | CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | 
| | ------------------------------------------------- | 

| | Nine Months Ended September 30,
| | -------------------------------

| | 2004 |  | 2003
| | ---- |  | ----

|Cash Flows from Operating Activities |  |  | 
|------------------------------------ |  |  | 

| | Net income (loss) | $(255,000) |  | $674,909
| | ----------------- | ---------- |  | --------

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

| | Gain from disposal of assets | 0 |  | (782,691)
| | ---------------------------- | - |  | ---------

| | Depreciation and amortization expense | 0 |  | 2,368
| | ------------------------------------- | - |  | -----

| | Stock issued for services | 255,000 |  | 0
| | ------------------------- | ------- |  | -

| | Decrease in accounts receivable | 0 |  | (83,878)
| | ------------------------------- | - |  | --------

| | Decrease in prepaid expenses | 0 |  | 14,300
| | ---------------------------- | - |  | ------

| | Increase in accounts payable | 0 |  | 3,499
| | ---------------------------- | - |  | -----

| | Decrease in customer deposits | 0 |  | (13,400)
| | ----------------------------- | - |  | --------

| | Increase (decrease) in related party payable | 0 |  | 4,697
| | -------------------------------------------- | - |  | -----

| | Increase in interest payable | 0 |  | 163
| | ---------------------------- | - |  | ---

| | Net cash provided by (used in) operating activities | 0 |  | (12,277)
| | --------------------------------------------------- | - |  | --------

|
|

|Cash Flows from Investing Activities |  |  | 
|------------------------------------ |  |  | 

| | Purchase of capital assets | 0 |  | (4,909)
| | -------------------------- | - |  | -------

| | Net cash provided by (used in) investing activities | 0 |  | (4,909)
| | --------------------------------------------------- | - |  | -------

|
|

|Cash Flows from Financing Activities |  |  | 
|------------------------------------ |  |  | 

| | Proceeds from advance from related party | 0 |  | 14,000
| | ---------------------------------------- | - |  | ------

| | Net cash provided by (used in) financing activities | 0 |  | 14,000
| | --------------------------------------------------- | - |  | ------

|
|

|Net (decrease) increase in cash | 0 |  | (3,186)
|------------------------------- | - |  | -------

|Cash and cash equivalents at December 31, 2003 and 2002 | 3,988 |  | 13,352
|------------------------------------------------------- | ----- |  | ------

|Cash and cash equivalents at June 30, 2004and 2003 | $3,988 |  | $10,166
|-------------------------------------------------- | ------ |  | -------

|
|

|See Notes to the Interim Financial Statements.
|----------------------------------------------

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

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

|Sepember 30, 2004
|-----------------

|
|

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

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

|The accompanying unaudited interim financial statements of iCrystal, Inc. (the Company) 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 managements 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 Companys most recent annual report on Form 10-KSB.
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|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 Companys 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 Companys 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.
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|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 Companys statements of operations has been adjusted to reflect this reverse stock split.
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|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. Subsequent Event | 
|------------------- | 

|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 Companys 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 Companys president, David Loflin.
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|Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations. | 
|---------------------------------------------------------------------------------------------- | 

|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 Investments 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. Loflins 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. | 
|------------------------------------------------------------ | 

|During June 2004, our shareholders took action by written consent of a majority in lieu of a meeting, whereby approval was obtained for us to take the following actions:
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|- | a proposal that the then-current Board of Directors be removed from office and replaced by David Loflin and Waddell D. Loflin.
|- | ------------------------------------------------------------------------------------------------------------------------------

|- | a proposal that we change our corporate name to "SAC Technology Corp."
|- | ----------------------------------------------------------------------

|- | a proposal that we complete a reverse stock split of 1-for-17, thereby making the total outstanding shares of common stock equal to 1,160,752.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------

|- | a proposal that we amend and restate our certificate of incorporation, to include a change in our authorized capitalization to: 80,000,000 shares of common stock and 20,000,000 shares of preferred stock.
|- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|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 Financial 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 Financial Officer Pursuant to 18 U.S.C. Section 1350 | 
| | ---- |  | --------------------------------------------------------------------------- | 

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

| | During the three months ended September 30, 2004, we filed two Current Reports on Form 8-K, as follows:
| | -------------------------------------------------------------------------------------------------------

|- | Date of Event: August 20, 2004, wherein we reported the filing of an amended and restated certificate of incorporation.
|- | -----------------------------------------------------------------------------------------------------------------------

|- | Date of Event: September 9, 2004, wherein we provided disclosure pursuant to Regulation FD, which disclosure included information regarding a reverse stock split.
|- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Subsequent to September 30, 2004, we have filed one Current Report on Form 8-K, as follows:
| | -------------------------------------------------------------------------------------------

|- | Date of Event: October 7, 2004, wherein we reported our entering into an agreement to acquire Fat Katz Music, LLC.
|- | ------------------------------------------------------------------------------------------------------------------

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

|
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|Date: November 22, 2004 | ICRYSTAL, INC.
|----------------------- | --------------

|
|

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

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

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