##### Table of Contents



UNITED STATES SECURITIES AND
    EXCHANGE COMMISSIONWashington, D.C.
    20549
      Form 10-Q
      (Mark One)þ

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934For the
    quarterly period ended March 31, 2010ORo

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to    Commission
    file number: 0-27729
  Zap.Com Corporation
 (Exact name of registrant as
    specified in its charter)
  Nevada

76-0571159(State or other jurisdiction
    of
    incorporation or organization)

(I.R.S. Employer
    Identification No.)100 Meridian Centre, Suite 350
    Rochester, NY(Address of principal
    executive offices)

14618(Zip Code)   (585) 242-2000
 (Registrants telephone number, including area code)
  (Former name, former address and former fiscal year, if
    changed since last report)
  þ o
  Regulation S-T o o
  Rule 12b-2
  Large accelerated
    filer o

Accelerated
    filer o

Non-accelerated
    filer o

Smaller reporting
    company þ(Do not check if a smaller reporting
    company)   Rule 12b-2 þ o




---



##### Table of Contents



ZAP.COM
    CORPORATION
   TABLE OF
    CONTENTS
   
 PagePART I. FINANCIAL
    INFORMATIONItem 1.

Financial Statements:Condensed Balance Sheets as of March 31, 2010 and
    December 31, 2009


3Condensed Statements of Operations for the Three
    Months Ended March 31, 2010 and March 31, 2009


4Condensed Statements of Cash Flows for the Three
    Months Ended March 31, 2010 and March 31, 2009


5Notes to Condensed Financial Statements


6Item 2.

Managements Discussion and Analysis of
    Financial Condition and Results of Operations


7Item 3.

Quantitative and Qualitative Disclosures about
    Market Risk


8Item 4.

Controls and Procedures


8PART II.OTHER
    INFORMATIONItem 1.

Legal Proceedings


10Item 1A.

Risk Factors


10Item 2.

Unregistered Sales of Equity Securities and Use
    of Proceeds


10Item 3.

Defaults Upon Senior Securities


10Item 4.

(Removed and Reserved)


10Item 5.

Other Information


10Item 6.

Exhibits


12EX-31.1EX-31.2EX-32.1EX-32.2  2




---



##### Table of Contents



PART I:
    FINANCIAL INFORMATION  Item 1.
    Financial
    Statements  ZAP.COM
    CORPORATION
  CONDENSED
    BALANCE SHEETS
  March 31,


December 31,2010


2009(A)(Unaudited)ASSETSCurrent assets:Cash and cash equivalents

$
1,401,879


$
1,441,166Total assets

$
1,401,879


$
1,441,166LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable

$
2,883


$
6,119Accrued liabilities


4,000



9,849Total liabilities


6,883



15,968Commitments and contingenciesStockholders equity:Common stock


50,004



50,004Additional paid in capital


10,929,956



10,925,546Accumulated deficit


(9,584,964
)


(9,550,352
)Total stockholders equity


1,394,996



1,425,198Total liabilities and stockholders equity

$
1,401,879


$
1,441,166     (A)
    
    Derived and condensed from the audited financial statements as
    of December 31, 2009.   3




---



##### Table of Contents



ZAP.COM
    CORPORATION
  CONDENSED
    STATEMENTS OF OPERATIONS
  Three Months EndedMarch 31,2010


2009(Unaudited)Revenues

$



$
Cost of revenues






Gross profit






Operating expenses:General and administrative


34,642



50,268Total operating expenses


34,642



50,268Operating loss


(34,642
)


(50,268
)Interest income


30



Loss before income taxes


(34,612
)


(50,268
)Benefit from income taxes






Net loss

$
(34,612
)

$
(50,268
)Net loss per common share  basic and diluted

$
0.00


$
0.00Weighted average common shares outstanding


50,004,474



50,004,474    4




---



##### Table of Contents



ZAP.COM
    CORPORATION
  CONDENSED
    STATEMENTS OF CASH FLOWS
  Three Months Ended March 31,2010


2009(Unaudited)Cash flows from operating activities:Net loss

$
(34,612
)

$
(50,268
)Adjustments to reconcile net loss to net cash used in operating
    activities:Contributed capital from Harbinger Group Inc. for unreimbursed
    management services and rent


4,410



3,431Changes in assets and liabilities:Other receivables






(87
)Accounts payable


(3,236
)


5,023Accrued liabilities


(5,849
)


15,850Net cash used in operating activities


(39,287
)


(26,051
)Net decrease in cash and cash equivalents


(39,287
)


(26,051
)Cash and cash equivalents at beginning of period


1,441,166



1,597,007Cash and cash equivalents at end of period

$
1,401,879


$
1,570,956    5




---



##### Table of Contents



ZAP.COM
    CORPORATION



NOTES TO
    CONDENSED FINANCIAL STATEMENTS

(Unaudited) Note 1.
    Basis of
    Presentation  Form 10-K
  Subsequent
    Events
    Note 2.
    Cash and
    Cash Equivalents    Note 3.
    Related
    Party Transactions   6




---



##### Table of Contents



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations  Form 10-K Form 10-K). Form 10-K
  Overview
      Results
    of Operations
    Revenues.
  Cost of revenues.
  General and administrative expenses.
  Interest Income.
  Liquidity
    and Capital Resources
   7




---



##### Table of Contents



Off-Balance
    Sheet Arrangements
    Summary
    of Cash Flows
      Commitments
    and Contingencies
    Recent
    Accounting Pronouncements Not Yet Adopted
    Critical
    Accounting Policies and Estimates
  Form 10-K.
  Item 3.
    Quantitative
    and Qualitative Disclosures about Market Risk    Item 4.
    Controls
    and Procedures  Evaluation
    of disclosure controls and procedures
  Rules 13a-15(e) 15d-15(e))
 8




---



##### Table of Contents



Changes
    in Internal Controls Over Financial Reporting
  Rules 13a-15(f) 15d-15(f)
  9




---



##### Table of Contents



PART II:
     OTHER INFORMATION
  SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS AND
    PROJECTIONS
  Form 10-Q Form 10-K
  
    We have limited assets and no source of revenue.
    We have not selected a specific industry in which to acquire or
    develop a business.
    Our officers are also officers of Harbinger Group Inc. (our
    Principal Stockholder) and they may have conflicts
    of interest.
    Our Principal Stockholder controls us and the presence of
    interlocking directors and officers create potential conflicts
    of interest and could prevent a change of control.
    We may suffer adverse consequences if we are deemed an
    investment company and we may incur significant costs to avoid
    investment company status.
    We have no substantive disclosure relating to prospective new
    businesses.
    If an acquisition or business combination is consummated,
    stockholders will likely not know its structure in advance and
    will likely suffer dilution.
    We are categorized as a shell company as that term
    is used in the Commissions rules.
    Management devotes insignificant time to our activities. 10




---



##### Table of Contents




    There is significant competition for acquisition candidates.
    There is no assurance of a continued public trading market for
    our stock and being a low priced security may affect the market
    value of our stock.
    We may have liabilities as a member of our Principal
    Stockholders consolidated tax group.
    Because we do not intend to pay any cash dividends on our common
    stock, holders of our common stock will not be able to receive a
    return on their shares unless they sell their shares.
    Our anti-takeover provisions in our corporate documents may have
    an adverse effect on the market price of our common stock.
    A substantial amount of our common stock is eligible for sale
    into the market and this could depress our stock price.
    Section 404 of the Sarbanes-Oxley Act of 2002 requires us
    to document and test our internal controls over financial
    reporting and to report on our assessment as to the
    effectiveness of these controls. Any delays or difficulty in
    satisfying these requirements or negative reports concerning our
    internal controls could adversely affect our future results of
    operations and our stock price.  Item 1.
    Legal
    Proceedings    Item 1A.
    Risk
    Factors  Form 10-K
  Item 2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds    Item 3.
    Defaults
    Upon Senior Securities    Item 4.
    (Removed
    and Reserved)  Item 5.
    Other
    Information   11




---



##### Table of Contents



Item 6.
    Exhibits  3
.1

Restated Articles of Incorporation of Zap.Com Corporation
    (Zap.Com) (Incorporated herein by reference to
    Exhibit No. 3.1 to Zap.Coms Registration
    Statement on
    Form S-1
    (File
    No. 333-76135)
    originally filed with the Securities and Exchange Commission on
    April 12, 1999, as amended.)3
.2

Amended and Restated By-laws of Zap.Com (Incorporated herein by
    reference to Exhibit No. 3.1 to Zap.Coms
    Quarterly Report on
    Form 10-Q
    for the quarter ended September 30, 2009 filed
    November 4, 2009 (File
    No. 0-27729)).31
.1*

Certification of CEO as required by
    Rule 13a-14(a)
    or 15d-14(a) of the Securities Exchange Act of 1934, as adopted
    pursuant to Section 302 of the Sarbanes-Oxley Act of 200231
.2*

Certification of CFO as required by
    Rule 13a-14(a)
    or 15d-14(a) of the Securities Exchange Act of 1934, as adopted
    pursuant to Section 302 of the Sarbanes-Oxley Act of 200232
.1*

Certification of CEO Pursuant to 18 U.S.C.
    Section 1350, as Adopted Pursuant to Section 906 of
    the Sarbanes-Oxley Act of 200232
.2*

Certification of CFO Pursuant to 18 U.S.C.
    Section 1350, as Adopted Pursuant to Section 906 of
    the Sarbanes-Oxley Act of 2002     *
    
    Filed or furnished herewith. 12




---



##### Table of Contents



SIGNATURES
    Zap.Com
Corporation  (Registrant)
   By:
    /s/  FRANCIS
    T. McCARRON    13