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

                                   FORM 10-KSB
(Mark One)
[X]  Annual Report Pursuant to Section 13 or 15(d) of The Securities Exchange
     Act of 1934

                   For the Fiscal Year Ended December 31, 2005

[ ]  Transition  Report  Pursuant  to  Section  13 or  15(d)  of The  Securities
     Exchange Act of 1934

                        Commission File Number 000-51140

                                JUMP'N JAX, INC.
                 ----------------------------------------------
                 (Name of small business issuer in its charter)

           Utah                                              87-0649332
--------------------------------                        --------------------
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                           Identification No.)

                3270 South 1100 West, South Salt Lake, Utah 84119
               (Address of principal executive offices) (Zip Code)

Issuer's telephone no.:  (801) 209-0545

Securities registered pursuant to Section 12(b) of the Exchange Act:   None

Securities registered pursuant to Section 12(g) of the Exchange Act:   Common

     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 [
]

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B contained in this form, and no disclosure will be
contained, to the best of the Registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [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
                                                ---     ---

     State the issuer's revenues for its most recent fiscal year. $ -0-

     State the aggregate market value of the voting stock held by non-affiliates
computed by reference to the price at which the stock was sold, or the average
bid and ask prices of such stock as of a specified date within 60 days. $
131,860

     State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date.

         Class                               Outstanding as of February 28, 2005
------------------------                     -----------------------------------
Common Stock, Par Value                        608,430 shares, $.001 par value

                       DOCUMENTS INCORPORATED BY REFERENCE

A description of "Documents Incorporated by Reference" is contained in Part III,
Item 14.

Transitional Small Business Disclosure Format.   Yes [ ]   No [X]


<PAGE>


                                JUMP'N JAX, INC.

                                TABLE OF CONTENTS


<TABLE>
<CAPTION>
                                                                                Page
                                                                                ----

                                     PART I

<S>           <C>                                                               <C>
Item  1.      Description of Business .....................................        3

Item  2.      Description of Property......................................       12

Item  3.      Legal Proceedings............................................       12

Item  4.      Submission of Matter to a Vote of Security Holders...........       12

                                     PART II

Item  5.      Market for Common Equity and Related Stockholder Matters.....       12

Item  6.      Management's Discussion and Analysis or Plan of Operation....       13

Item  7.      Financial Statements.........................................       17

Item  8.      Changes in and Disagreements with Accountants on Accounting and
                 Financial Disclosure......................................       17

Item  8A.     Controls and Procedures......................................       17

Item  8B      Other Information............................................       18

                                    PART III

Item  9.      Directors, Executive Officers, Promoters and Control Persons;
                Compliance with Section 16(a) of the Exchange Act..........       18

Item  10.     Executive Compensation.......................................       19

Item  11.     Security Ownership of Certain Beneficial Owners and Management
                and Related Stockholder Matters............................       20

Item  12.     Certain Relationships and Related Transactions...............       20

Item  13.     Exhibits.....................................................       21

Item  14.     Principal Accountant Fees and Services.......................       21

              Signatures...................................................       22
</TABLE>



                                       2
<PAGE>


                                     PART I

Item  1.      Description of Business

Business Development

History

     On March 3, 2000, the board of directors of our former parent corporation,
Draco Holding Corporation, unanimously approved the formation of Jump'n Jax,
Inc., a Utah corporation ("Jump'n Jax")("the Company"), as a wholly-owned
subsidiary of the Draco. Jump'n Jax operated its business of leasing inflatable
balloon bounce-houses for parties and outdoor activities in Southern Utah.

      On December 18, 2003, Draco's Board of Directors unanimously approved a
reverse split of Draco's authorized common stock (both issued and unissued
shares) in the ratio of one share for 25 shares. As a result of the split, the
number of Draco's authorized shares was reduced from 500,000,000 pre-split
shares to 20,000,000 post-split shares, and the number of Draco's issued and
outstanding shares was reduced from 18,934,751 pre-split shares to 757,390
post-split shares. The par value of Draco's common stock was kept at $0.001 per
share. This reverse split became effective December 30, 2003.

     On December 30, 2003 a total of 100,000 post-split Draco common shares were
issued to each of Lane S. Clissold and Steven D. Moulton, both directors of
Draco, 30,000 post-split shares were issued to a third director, James T.
Wheeler, and a total of 54,000 post-split shares were issued to consultants for
services rendered to Draco.

     From its formation in March 2000, Jump'n Jax has consistently incurred
operating losses on a quarterly basis, with only a few exceptions where we
showed a nominal profit. We have financed ongoing operations through various
loans and contributions made by Messrs. Clissold and Moulton. Effective November
18, 2002, Messrs. Clissold and Moulton converted loans to Draco with an
aggregate principal balance of $50,048 and accrued interest of approximately
$6,000 to 200,000 post-split shares (100,000 shares each) of Draco common stock.
Mr. Clissold loaned an additional $5,000 to Draco in December 2002. During the
year ended December 31, 2003, Mr. Clissold and Mr. Moulton loaned an aggregate
of $15,000 to Draco. Effective November 18, 2003, all outstanding loans to Draco
made by Messrs. Clissold and Moulton were converted to 400,000 post-split shares
of Draco common stock which were issued to Mr. Clissold and Mr. Moulton in equal
amounts (200,000 shares each).

Share Exchange Agreement

     On April 30, 2004, Draco, completed a share exchange agreement with the
stockholders of Hong Xiang Petroleum Group Limited, a British Virgin Island.
Pursuant to the terms of the share exchange, Draco acquired all of the issued
and outstanding capital stock of Hong Xiang in exchange for 18,700,000 shares of
Draco common stock. Upon the closing of the share exchange, Hong Xiang became a
wholly-owned subsidiary of Draco. The transaction resulted in a change of
control of Draco, whereby approximately 93.93% of Draco's outstanding shares
were owned by persons who were previously stockholders of Hong Xiang. Draco then
changed its corporate name to China Northeast Petroleum Holdings, Inc.

    China Northeast Petroleum, through its subsidiary Hong Xiang, is engaged in
the extraction and production of crude oil. Its current operations are in a
portion of the Jilin Quinan Oil Field which is located southwest of Quinan City
in the Jilin Province of the Peoples Republic of China. The area in which Hong
Xiang conducts operations is one of the portions of the Quinan Oil Field which,
in 1999, was designated by the Jilin Petroleum Group for cooperative exploration
and production. Hong Xiang has taken over an exclusive 20 year contract to
produce oil from the designated portion of the Jilin Quinan Oil Field. Hong
Xiang subcontracts all oil well drilling activities to third parties but has
retained direct responsibility for well logging, drill-stem testing and core
sampling. All crude oil produced from the production site is currently sold to
the Jilin Refinery of PetroChina.



                                       3
<PAGE>

     As an additional condition of the share exchange agreement, it was agreed
that 100% of the shares of Jump'n Jax, Inc. owned by China Northeast Petroleum
(f.k.a. Draco), would be distributed to those stockholders of record of China
Northeast Petroleum on March 8, 2004, prior to the closing of the agreement.
Jump'n Jax's outstanding shares were forward split to accommodate the
distribution and, accordingly, an aggregate of 941,390 shares of Jump'n Jax
common stock were issued to the stockholders of record on the basis of one share
of our common stock for each share of China Northeast Petroleum common stock
owned at the record date.

     We then filed with the SEC a registration statement on Form SB-2 in order
to facilitate the distribution (spin-off). Only those stockholders who owned
Draco shares on March 8, 2004 were entitled to receive shares in connection with
the spin-off. Those persons that received shares pursuant to the share exchange
agreement or acquired their shares after March 8, 2004, were not eligible for
the spin-off. Following the spin-off, there were 941,390 shares of Jump'n Jax
common stock outstanding.

Reverse Stock Split

     On October 10, 2005, our board of directors unanimously ratified a
resolution to effect a reverse stock split of our outstanding shares of common
stock on a one share for twelve shares basis. The split was also approved by the
written consent of shareholders holding a majority of our outstanding shares.
The board established October 10, 2005 as the record date for determining those
stockholders entitled to shares as a result of the reverse split. The reverse
split was effected by causing the issuance of one share of common stock (par
value $0.001 per share) to the record holders of each twelve shares of common
stock (par value $0.001 per share) issued and outstanding on the record date. As
a result of the stock split, the total number of common shares outstanding was
decreased to 608,430 shares.

Recent Events

     On October 18, 2005, we executed a Letter of Intent to acquire PremierBPO,
Inc. ("Premier"). Completion of the acquisition was subject to certain
conditions and requirements including, but not limited to, finalizing definitive
documents, completion of satisfactory due diligence, raising a minimum of $3
million in private equity, and other customary pre-closing conditions.
PremierBPO is a company that was established in September 2003 for the sole
purpose of enabling businesses to outsource services in a more cost-effective
and efficient manner.

     Pursuant to the terms of the Letter of Intent we would issue approximately
11,588,891 shares (post-split as described below) of our common stock in
exchange for all of the issued and outstanding capital stock of Premier. These
shares would equal approximately 90% of our issued and outstanding shares,
post-acquisition. We would also issue to two of our directors, Steven D. Moulton
and Lane S. Clissold, and to Monarch Bay Capital Group, LLC, Tryant, LLC,
warrants to purchase an aggregate of 210,000 shares of Jump'n Jax common stock
at an exercise price of $1.20 per share. We would also issue to Doherty &
Company, LLC a warrant to purchase 289,722 shares of Jump'n Jax common stock at
an exercise price of $0.80 per share.

     On December 21, 2005, the parties mutually agreed to terminate the letter
of intent. Pursuant to the terms of the letter of intent and the mutual release,
Jump'n Jax, retained a $25,000 non-refundable deposit.

     On January 1, 2006, the board of directors elected to officially cease our
bounce house operations. This decision was due, in part, to the lack of
profitability of the operations and the resignation of the primary bounce house
operator. We are deemed to have re-entered the development stage on January 1,
2006.

Current Business Activities

     We elected to discontinue our primary business segment, bounce house
rentals, in January 2006. Our current focus is on locating an existing operating
entity to acquire or merge with. We have a limited operating history and no
representation is made, nor is any intended, that we will be able to carry on
future business activities successfully. Further, there can be no assurance that
we will have the ability to acquire or merge with an operating business,
business opportunity or property that will be of material value to us.



                                       4
<PAGE>

     Management plans to investigate, research, and if justified, potentially
acquire or merge with one or more businesses or business opportunities. We
currently have no commitment or arrangement, written or oral, to participate in
any business opportunity and management cannot predict the nature of any
potential business opportunity it may ultimately consider. Management will have
broad discretion in its search for and negotiations with any potential business
or business opportunity.

     Source of Business Opportunities

     Management intends to use various resources in its search for potential
business opportunities including, but not limited to, our officers and
directors, consultants, special advisors, securities broker-dealers, venture
capitalists, members of the financial community and others who may present
management with unsolicited proposals. Because of our lack of capital, we may
not be able to retain, on a fee basis, professional firms specializing in
business acquisitions and reorganizations. Rather, we will most likely have to
rely on outside sources, not otherwise associated with us, that will accept
their compensation only after we have finalized a successful acquisition or
merger. To date, we have not engaged or entered into any discussion, agreement
or understanding with a particular consultant regarding its search for business
opportunities. Presently, no final decision has been made nor is management in a
position to identify any future prospective consultants.

     If we elect to engage an independent consultant, we will look only to
consultants that have experience in working with small companies in search of an
appropriate business opportunity. Also, the consultant must have experience in
locating viable merger and/or acquisition candidates and have a proven track
record of finalizing such business consolidations. Further, we would prefer to
engage a consultant that will provide services for only nominal up-front
consideration and is willing to be fully compensated at the close of a business
consolidation.

     We do not intend to limit our search to any specific kind of industry or
business. We may investigate and ultimately acquire a venture that is in its
preliminary or development stage, is already in operation, or in various stages
of its corporate existence and development. Management cannot predict at this
time the status or nature of any venture in which we may participate. A
potential venture might need additional capital or merely desire to have its
shares publicly traded. The most likely scenario for a possible business
arrangement would involve the acquisition of or merger with an operating
business that does not need additional capital, but which merely desires to
establish a public trading market for its shares. Management believes that we
could provide a potential public vehicle for a private entity interested in
becoming a publicly held corporation without the time and expense typically
associated with an initial public offering.

     Evaluation

     Once we identify a particular entity as a potential acquisition or merger
candidate, management will seek to determine whether acquisition or merger is
warranted, or whether further investigation is necessary. Such determination
will generally be based on management's knowledge and experience, or with the
assistance of outside advisors and consultants evaluating the preliminary
information available to them. Management may elect to engage outside
independent consultants to perform preliminary analysis of potential business
opportunities. However, because we lack of capital we may not have the necessary
funds for a complete and exhaustive investigation of any particular opportunity.

     In evaluating potential business opportunities, management will consider,
to the extent relevant to the specific opportunity, several factors including:


                                       5
<PAGE>



      o     potential benefits to us and our shareholders;
      o     working capital;
      o     financial requirements and availability of additional financing;
      o     history of operation, if any;
      o     nature of present and expected competition;
      o     quality and experience of management;
      o     need for further research, development or exploration;
      o     potential for growth and expansion;
      o     potential for profits; and
      o     other factors deemed relevant to the specific opportunity.

     Because we have not yet located or identified any specific business
opportunity, there are certain unidentified risks that cannot be adequately
expressed prior to the identification of a specific business opportunity. There
can be no assurance following consummation of any acquisition or merger that the
business venture will develop into a going concern or, if the business is
already operating, that it will continue to operate successfully. Many potential
business opportunities available to us may involve new and untested products,
processes or market strategies that may not ultimately prove successful.

     Form of Potential Acquisition or Merger

     We cannot predict the manner in which we might participate in a particular
prospective business opportunity. Each separate potential opportunity will be
reviewed and, upon the basis of that review, a suitable legal structure or
method of participation will be chosen. The particular manner in which we
participate in a specific opportunity will depend upon the nature of its
business, the respective needs and desires of our company and management of the
opportunity, and the relative negotiating strength of the parties involved.
Actual participation in a business venture may take the form of an asset
purchase, lease, joint venture, license, partnership, stock purchase,
reorganization, merger or other form of consolidation. We may act directly or
indirectly through an interest in a partnership, corporation, or other form of
organization, however, we presently do not intend to participate in an
opportunity through the purchase of a minority stock position.

     Because we have limited assets and a limited operating history, in the
event we successfully acquire or merge with an operating business, it is likely
that current shareholders will experience substantial dilution. It is also
probable that there will be a change in control of our company. The owners of
the business that we acquire or merger with will most likely acquire effective
control following such transaction. Management has not established any
guidelines as to the amount of control it will offer to prospective business
opportunities. Instead, management will attempt to negotiate the best possible
agreement for the benefit of the shareholders.

     Presently, management does not intend to borrow funds to compensate any
person, consultant, promoter or affiliate in relation to the consummation of a
potential merger or acquisition. However, if we engage any outside advisor or
consultant in our search for business opportunities, it may be necessary to
attempt to raise additional funds. As of the date hereof, we have not made any
arrangements or definitive agreements to use outside advisors or consultants or
to raise any capital. In the event we need to raise capital, most likely the
only method available would be the private sale of securities. These possible
private sales would most likely have to be to persons known by the officers and
directors or to venture capitalists that would be willing to accept the risks
associated with investing in a company with limited operations. Because we are a
development stage company, it is unlikely that we could make a public sale of
securities or be able to borrow any significant sum from either a commercial or
private lender. Management will attempt to acquire funds on the best available
terms. However, there can be no assurance that we will be able to obtain
additional funding when and if needed, or that such funding, if available, can
be obtained on reasonable and/or acceptable terms. Although not presently
anticipated, there is a remote possibility that we could sell securities to
management or affiliates to raise funds.



                                       6
<PAGE>

     There exists a possibility that the terms of any future acquisition or
merger transaction might include the sale of shares presently held by our
officers and/or directors to parties affiliated with or designated by the
potential business opportunity. If this situation does arise, management is
obligated to follow our Articles of Incorporation and all applicable corporate
laws in negotiating such an arrangement. Under this scenario of a possible stock
sale by officers and directors, it is unlikely that similar terms and conditions
would be offered to other shareholders or that the shareholders would be given
the opportunity to approve such a transaction.

     In the event of a successful acquisition or merger, a finder's fee, in the
form of cash or securities, may be paid to a person or persons instrumental in
facilitating the transaction. No criteria or limits have been established for
the determination of an appropriate finder's fee, although it is likely that any
fee will be based upon negotiations by management, the business opportunity and
the finder. Management cannot at this time make an estimate as to the type or
amount of a potential finder's fee that might be paid. It is unlikely that a
finder's fee will be paid to an affiliate because of the potential conflict of
interest that might result. However, if such a fee was paid to an affiliate, it
would have to be in such a manner so as not to compromise the affiliate's
possible fiduciary duty to the company or to violate the doctrine of corporate
opportunity. Further, in the unlikely event a finder's fee was to be paid to an
affiliate, we would most likely have such an arrangement ratified by the
shareholders in an appropriate manner.

     The board of directors believes that it is highly unlikely that we will
acquire or merge with a business in which management, affiliates or promoters
have an ownership interest. Any possible related party transaction of this type
would have to be ratified by a disinterested board and by the shareholders.
Management does not anticipate that we will acquire or merge with any related
entity. Further, as of the date hereof, no officer, director, affiliate or
associate has had any preliminary contact or discussions with any specific
business opportunity, nor are there any present plans, proposals, arrangements
or understandings regarding the possibility of an acquisition or merger with any
specific business opportunity.

     Rights of Shareholders

     Management anticipates that prior to consummating any acquisition or
merger, we will, if required by relevant state laws and regulations, seek to
have the transaction ratified by shareholders in the appropriate manner.
However, under applicable Utah law, certain actions that would routinely be
taken at a meeting of shareholders, may be taken by written consent of
shareholders having not less than the minimum number of votes that would be
necessary to authorize or take the action at a meeting of shareholders. Thus, if
shareholders holding a majority of the outstanding shares decide by written
consent to consummate an acquisition or a merger, minority shareholders would
not be given the opportunity to vote on the issue. The board of directors will
have the discretion to consummate an acquisition or merger by written consent if
it is determined to be in the best interest of the company and shareholders to
do so. Regardless of whether an action to acquire or merge is ratified by
written consent or by holding a shareholders' meeting, we will provide to
shareholders complete disclosure documentation concerning a potential target
business opportunity including the appropriate audited financial statements of
the target. This information will be disseminated by proxy statement in the
event a shareholders' meeting is held, or by an information statement pursuant
to Regulation 14C of the Securities Exchange Act of 1934 if the action is taken
by written consent.


                                       7
<PAGE>

     Under Utah corporate laws, shareholders may be entitled to assert
dissenters' rights if we acquire or merge with a business opportunity.
Shareholders will be entitled to dissent from and obtain payment of the fair
value of their shares in the event of consummation of a plan of merger to which
we are a party, if approval by the shareholders is required under applicable
Utah law. Also, shareholders will be entitled to dissenters' rights if we enter
into a share exchange if our shares are to be acquired. A shareholder who is
entitled to assert dissenter's rights and obtain the fair value for their
shares, may not challenge the corporate action creating this entitlement, unless
the action is unlawful or fraudulent with respect to the shareholder or the
company. A dissenting shareholder must refrain from voting their shares in
approval of the corporate action. If the proposed action is approved by the
required vote of shareholders, we must give notice to all shareholders who
delivered to their written notice of dissent.

Competition

     Because no potential acquisition or merger candidate has been identified,
we are unable to evaluate the type and extent of its likely competition. We are
aware that there are several other public companies with only nominal assets
that are also searching for operating businesses and other business
opportunities as potential acquisition or merger candidates. We will be in
direct competition with these other public companies in our search for business
opportunities and, due to our lack of funds, it may be difficult to successfully
compete with these other companies.

Patents, Trademarks, Trade Names and Licenses

     We have no patents, licenses, franchises, concessions, royalty agreements
or labor contracts. Our children's entertainment business operated under the
Jump'n Jax name, but we have not registered the Jump'n Jax name as a trademark,
and have no immediate plans to do so.

Governmental Regulations

     No special governmental approval is required to operate our business other
than having a valid business license, which generally applies to all businesses.
Other than maintaining the good standing of our corporate entity, complying with
local business licensing requirements and complying with other applicable
securities laws, rules and regulations, we do not believe that existing or
probable governmental regulations will have a material effect on our operations.

Research and Development Expenses

     We have not incurred any research and development expenses in the past and
do not expect to incur any in the foreseeable future.

Employees

     We presently have two employees, both of whom are officers and directors.
We have no arrangement with either individual with respect to wages or any other
faced of employment. The primary responsibilities of each are to ensure we
remain current and in good standing with the Securities and Exchange Commission,
and to seek out potential acquisition or merger candidates for the Company.

Facilities

     Our principal corporate and executive offices are located at 3270 South
1100 West, South Salt Lake, Utah 84119, which is the principal place of business
of our President and director, Lane Clissold. We have no written agreement and
currently pay no rent for the use of these facilities. We have no current plans
to secure additional facilities until such time as our business so warrants.


                                       8
<PAGE>


Industry Segments

     No information is presented as to industry segments. Prior to January 2006,
we were engaged in the principal business of providing childhood entertainment.
Reference is made to the statements of operations contained in the financial
statements included herewith for a statement of our revenues and operating loss
for the past two fiscal years.

Risk Factors

     Ownership of our common stock is speculative and involves a high degree of
risk. You should carefully consider the risks and uncertainties described below
and other information in this report. If any of the following risks or
uncertainties actually occur, our business, financial condition and operating
results, would likely suffer. Additional risks and uncertainties, including
those that are not yet identified or that we currently believe are immaterial,
may also adversely affect our business, financial condition or operating
results.

     Risks Relating to Our Business
     ------------------------------

     Our limited operating history makes it difficult to evaluate our business
     and prospects.
     ---------------------------------------------------------------------------

     We commenced our bounce house business operations in March 2000 ceased them
in December 2005. Because of our short operating history and uncertainty of
future operations, we have only limited financial data and business information
for a prospective investor to evaluate our business strategies, past performance
or an investment in our common stock. Thus, investors not have adequate
information with which to make an informed investment decision regarding our
company.

     We have limited assets and our current operations have not resulted in
     substantial revenues.
     ---------------------------------------------------------------------------

     We currently have assets of $18,612 and revenues (from operations now
discontinued) for the past two fiscal years ended December 31, 2005 and 2004
have been $5,295 and $12,381, respectively. It is highly likely that our
revenues will increase significantly in the immediate future unless we are able
to develop and implement a new plan of operation, which may require additional
funding. There can be no assurance that we will be able to secure such
additional funds or that we will generate revenues in the future. We expect to
continue to incur expenses in connection with the operation of our business and
other general and administrative expenses. Accordingly, we need to generate a
source of revenues to achieve and/or sustain profitability.

     There is substantial doubt about our ability to continue as a going concern
     due to working capital shortages, which means that we may not be able to
     continue operations unless we obtain additional funding.
     ---------------------------------------------------------------------------

     Because we have not shown the ability to generate sufficient revenues to
cover our operating costs on a consistent basis, in is important that we either
generate a new source of revenues in the future or locate an additional source
of funding. For fiscal years ended December 31, 2005 and 2004, we incurred net
losses of $33,395 and $32,900, respectively. Accordingly, the independent
auditor's report accompanying our audited financial statements as of December
31, 2005, raises doubt about our ability to continue as a going concern. Our
financial statements do not include any adjustments that might result from the
outcome of this uncertainty. If we are unable to increase revenues or obtain
adequate capital to cover our operating costs, we may be forced to cease
operations.

     Additional required capital may not be available at attractive terms which
     would have a material negative effect on our operating results.
     ---------------------------------------------------------------------------

     In the event we need additional funds in order to develop and implement our
business operations, we may not be able to secure such funding. In the past we
have been dependent on the infusion of capital from our directors and
stockholders in order to continue our business. Currently, we estimate our
recurring annual total expenses to be approximately $30,000 per annum. We expect
that our general, administrative and other operating expenses will increase
substantially as we accelerate our efforts to expand our business and to satisfy
increased reporting and stockholder communications obligations under the
securities laws.



                                       9
<PAGE>

     We cannot give any assurance that we will be able to obtain necessary funds
required to continue operations, or that such funds will be available on terms
favorable to us. If we borrow funds we will have to pay interest and may also
have to agree to restrictions that limit our operating flexibility. In addition,
our cash requirements may vary materially from those now anticipated by
management. These changes may be due to the results of business expansion,
potential changes in capital and debt markets, terms on which financing can be
obtained, competitive factors and other factors. If adequate funds are not
available, we may be required to curtail our operations which would have a
negative effect on our financial condition.

     Discretionary Use of Proceeds
     -----------------------------

     We are not currently engaged in any substantive business activities other
than looking for and investigating business opportunities. Accordingly,
management has broad discretion with respect to the potential acquisition of
assets, property or business. Although management intends to apply any proceeds
it may receive through the future issuance of stock or debt to a suitable
acquired business, we will have broad discretion in applying these funds. There
can be no assurance that the use or allocation of such proceeds will allow us to
achieve our business objectives.

     No Substantive Disclosure Relating to Prospective Acquisitions
     --------------------------------------------------------------

     Because we have not yet identified any specific industry, assets or
business that it may seek an acquisition or merger, potential investors in our
stock will have no substantive information upon which to base a decision whether
to invest in our company until such a transaction is completed. Prospective
investors currently have no basis to evaluate the comparative risks and merits
of investing in the industry or business in which we may acquire. Potential
investors would have access to significantly more information if we had already
identified a potential acquisition or if the acquisition target had made an
offering of its securities directly to the public. We can give no assurance that
we will ultimately raise funds or that if we do, any investment in our stock
will be a favorable investment.

     Future Acquisition or Merger May Result in Substantial Dilution
     ---------------------------------------------------------------

     We are currently authorized to issue 50 million shares of common stock, of
which 608,430 shares are outstanding as of the date hereof. The issuance of
additional shares in connection with any acquisition or merger transaction or
the raising of capital may result in substantial dilution of the holdings of
current stockholders.

     We are heavily dependent on our executive officers and their loss could
     severely damage our business.
     ---------------------------------------------------------------------------

     Our future success depends on the continued contributions of our directors
and executive officers, Steve D. Moulton and Lane Clissold.  Each has been
instrumental in helping to establish our company and are central to our
development and growth. Even if we continue to rely on our executives for
various specialized services, we will may at some point need to recruit and
retain additional personnel including advisors and management, and develop
additional management expertise. Our inability to acquire such services or to
develop such expertise could have a material adverse effect on our operations.

     Because we have not adopted formal policies governing potential conflicts
     of interest, the occurrence of one or more conflicts could have a negative
     impact on our business.
     ---------------------------------------------------------------------------

     Our officers, directors and affiliates may be subject to potential
conflicts of interest. All of our officers and directors have other full-time
employment and are subject to competing demands for their time and resources
between our business and their other business and investment interests. Although
we do not presently anticipate doing business or entering into transactions with
a business or entity in which an affiliate may have an ownership interest, it is
possible that such an occurrence may take place in the future. We have no formal
conflict of interest policy in place regarding the possibility of our entering
into transactions with affiliates. In the event of a potential conflict of
interest, our board of directors is governed by Utah corporate law relating to
conflicting interest transactions and the "doctrine of corporate opportunities."
Presently, it is management's intent to have any related party transaction
ratified by a disinterested board of directors and, if necessary, by a vote of
stockholders. If management does not follow these guidelines, there is a
possibility that we could enter into a transaction without board and/or
stockholder approval and that such transaction may not be in the best interest
of the business. This could have a material and negative effect on our business
and financial condition. There can be no assurance that any potential conflicts
of interest will be resolved fairly in favor of our stockholders or us.



                                       10
<PAGE>

     Management will devote only minimal time to our business.
     ---------------------------------------------------------------------------

     Presently, our two directors have other full time obligations and will
devote only such time to our business as necessary to maintain
our ongoing business viability and current SEC reporting status. Mr. Moulton
spends approximately 10 hours or fewer per week dealing with the administrative
details of our business and the balance of his time to conducting his own
investment and consulting activities. Mr. Clissold operates his automotive
business full-time and devotes only such time to Jump'n Jax as may be required
as a member of the board of directors. Thus, because of their other time
commitments, management anticipates that they will devote only a minimal amount
of time to our company, at least until such time as business warrants devoting
more time.

     Risks Relating to Ownership of Our Common Stock
     -----------------------------------------------

     Effective voting control is held by directors who have the ability to
     control future election of directors and the affairs of our company.
     ---------------------------------------------------------------------------

     Our current directors own in the aggregate approximately 84.8% of our
outstanding voting securities. No other single stockholder owns in excess of
10%. Accordingly, the current directors have the ability to elect all of our
directors, who in turn elect all executive officers, and to control our business
and other affairs without regard to the votes of other stockholders.

     The so called "penny stock rule" could make it cumbersome for brokers and
     dealers to trade in our common stock, making the market for our common
     stock less liquid which could have a negative effect on the price of our
     stock .
     ---------------------------------------------------------------------------

     Trading of our common stock may be subject to certain provisions of the
Securities Exchange Act of 1934, commonly referred to as the "penny stock" rule.
A penny stock is generally defined to be any equity security that has a market
price less than $5.00 per share, subject to certain exceptions. If our stock is
deemed a penny stock, trading will be subject to additional sales practice
requirements on broker-dealers. These may require a broker-dealer to:

     o   make a special suitability determination for purchasers of our shares;

     o   receive the purchaser's written consent to the transaction prior to the
         purchase; and

     o   deliver to a prospective purchaser of our shares prior to the first
         transaction, a risk disclosure document relating to the penny stock
         market.


                                       11
<PAGE>


     Consequently, penny stock rules may restrict the ability of broker-dealers
to trade and/or maintain a market in our common stock. Also, prospective
investors may not want to get involved with the additional administrative
requirements, which may have a material adverse effect on the trading of our
shares.

     We have never paid a dividend and do not intend to do so in the immediate
     future.
     ---------------------------------------------------------------------------

     We have never paid cash dividends and have no plans to do so in the
foreseeable future. Our future policy will be determined by our board of
directors and will depend upon a number of factors, including our financial
condition and performance, our cash needs and expansion plans, income tax
consequences, and the restrictions that applicable laws and our credit
arrangements may impose.

Item  2.      Description of Property

     We do not presently own any property.

Item  3.      Legal Proceedings

     There are no material pending legal proceedings to which we or our
subsidiary is a party or to which any of our property is subject and, to the
best of our knowledge, no such action against us is contemplated or threatened.

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

     On August 30, 2005, our two principal shareholders approved the one share
for twelve shares reverse stock split by written consent. The two shareholders
voted a total of 6,268,000 shares representing approximately 87% of our
outstanding voting securities, to authorize the reverse split. This action by
written consent was reported to the SEC by the filing of an Information
Statement, which was also sent to all shareholders prior to the effective date
of the reverse split.

                                     PART II

Item  5.      Market for Common Equity and Related Stockholder Matters

     Our common stock is currently included on the OTC Bulletin Board under the
symbol "JMPJ" (previously "JNJX"), although there has not been an active,
ongoing trading market for the shares. Accordingly, we are not including a
history of reported trades in the public market.

     Inclusion on the OTCBB permits price quotations for our shares to be
published by such service. However, we do not anticipate our shares to be
actively traded in the public market until such time as a merger or acquisition
can be consummated. Also, secondary trading of our shares may be subject to
certain state imposed restrictions. We do not have any plans, proposals,
arrangements or understandings with any person concerning the further
development of a trading market in any of our securities.

     The ability of individual stockholders to trade their shares in a
particular state may be subject to various rules and regulations of that state.
A number of states require that an issuer's securities be registered in their
state or appropriately exempted from registration before the securities are
permitted to trade in that state. Presently, we have no plans to register our
securities in any particular state. Further, our shares most likely will be
subject to the provisions of Section 15(g) and Rule 15g-9 of the Exchange Act,
commonly referred to as the "penny stock" rule. Section 15(g) sets forth certain
requirements for transactions in penny stocks and Rule 15g-9(d)(1) incorporates
the definition of penny stock as that used in Rule 3a51-1 of the Exchange Act.



                                       12
<PAGE>

     The SEC generally defines penny stock to be any equity security that has a
market price less than $5.00 per share, subject to certain exceptions. Rule
3a51-1 provides that any equity security is considered to be a penny stock
unless that security is: registered and traded on a national securities exchange
meeting specified criteria set by the SEC; authorized for quotation on The
NASDAQ Stock Market; issued by a registered investment company; excluded from
the definition on the basis of price (at least $5.00 per share) or the issuer's
net tangible assets; or exempted from the definition by the SEC. Broker-dealers
who sell penny stocks to persons other than established customers and accredited
investors (generally persons with assets in excess of $1,000,000 or annual
income exceeding $200,000, or $300,000 together with their spouse), are subject
to additional sales practice requirements.

     For transactions covered by these rules, broker-dealers must make a special
suitability determination for the purchase of such securities and must have
received the purchaser's written consent to the transaction prior to the
purchase. Additionally, for any transaction involving a penny stock, unless
exempt, the rules require the delivery, prior to the first transaction, of a
risk disclosure document relating to the penny stock market. A broker-dealer
also must disclose the commissions payable to both the broker-dealer and the
registered representative, and current quotations for the securities. Finally,
monthly statements must be sent to clients disclosing recent price information
for the penny stocks held in the account and information on the limited market
in penny stocks. Consequently, these rules may restrict the ability of
broker-dealers to trade and/or maintain a market in our common stock and may
affect the ability of stockholders to sell their shares.

     Presently we have approximately 87 holders of record of our common stock.
This number does not take into consideration stockholders whose shares are held
by broker-dealers, financial institutions or other nominees.

Dividend Policy

     We have never declared or paid cash dividends or made distributions in the
past and do not anticipate paying cash dividends or making distributions in the
foreseeable future. We currently intend to retain and invest future earnings to
finance operations.

Item  6.      Management's Discussion and Analysis or Plan of Operation

     The following information should be read in conjunction with the financial
statements and notes thereto appearing elsewhere in this Form 10-KSB.

     Unless we are able to consummate a merger with an existing operating
entity, it may be necessary for us to secure additional capital to maintain our
corporate viability. We anticipate that necessary funds will most likely be
provided by our officers and directors in the immediate future. However, unless
we are able to facilitate an adequate financing in the near future to advance
our business plan, there is substantial doubt about our ability to continue as a
going concern.

     In the opinion of management, inflation has not and will not have a
material effect on our operations. Management will continue to monitor inflation
and evaluate the possible future effects of inflation on our business and
operations.

Plan of Operation

     Our independent auditors have indicated in a footnote to our financial
statements that we have not yet established revenues sufficient to cover our
operating costs and to allow us to continue as a going concern. Our ability to
continue as a going concern is dependent on us obtaining adequate capital to
fund operating losses until we become profitable. If we are unable to obtain
adequate funding, we could be forced to cease operations.

     Two of our directors, Lane S. Clissold and Steven D. Moulton, have verbally
committed to provide additional funds for at least the next twelve months to
help us adequately fund our operations and to remain current in our periodic
reporting obligations to the SEC. However, neither Mr. Clissold nor Mr. Moulton
is contractually obligated to provide any additional funds. Thus, if management
does not provide requisite funding, we will be forced to seek financing from
outside sources, although there can be no assurance that we will be able to
secure such funds to continue our business operations.



                                       13
<PAGE>

     During the next 12 months, we will actively seek out and investigate
possible business opportunities with the intent to acquire or merge with one or
more business ventures. In our search for business opportunities, management
will follow the procedures outlined in Item 1 above. Because we lack funds, it
may be necessary for our officers and directors to either advance funds to us or
to accrue expenses until such time as a successful business consolidation can be
made. Management intends to hold expenses to a minimum and to obtain services on
a contingency basis when possible. Further, our directors will defer any
compensation until such time as an acquisition or merger can be accomplished and
will strive to have the business opportunity provide their remuneration.
However, if we engage outside advisors or consultants in our search for business
opportunities, it may be necessary for us to attempt to raise additional funds.
As of the date hereof, we have not made any arrangements or definitive
agreements to use outside advisors or consultants or to raise any capital. In
the event we need to raise capital, most likely the only method available to us
would be the private sale of securities. Because of the nature of our company as
a development stage company, it is unlikely that we could make a public sale of
securities or be able to borrow any significant sum from either a commercial or
private lender. There can be no assurance that we will be able to obtain
additional funding when and if needed, or that such funding, if available, can
be obtained on acceptable terms.

     We do not intend to use any employees, with the possible exception our
directors or part-time clerical assistance on an as-needed basis. Outside
advisors or consultants will be used only if they can be obtained for minimal
cost or on a deferred payment basis. Management is confident that it will be
able to operate in this manner and to continue its search for business
opportunities during the next twelve months.

Results of Operations

     Year Ended December 31, 2005 Compared to Year Ended December 31, 2004

     Revenues from continuing operations for the year ended December 31, 2005
were $-0- compared to $-0- for the year ended December 31, 2004. We did earn
$5,295 in revenues from its discontinued operations during the year ended
December 31, 2005, compared to $12,381 in 2004. This decrease was due primarily
to the fact that we ceased our bounce house operations during the 2005 fiscal
year.

     Total operating expenses for 2005 were $55,736, a significant increase over
expenses of $22,336 in 2004. The increase is primarily attributed to the
increase in general and administrative expenses due to costs and professional
fees associated with the due diligence associated with merger negotiations
during the year. We reported a net loss from continuing operations of $32,875
for 2005, compared to $26,877 for 2004. In addition, we reported a net loss from
discontinued operations of $520 in 2005, compared to $6,023 in 2004.

Liquidity and Capital Resources

     At December 31, 2005, we had cash on hand of $15,660 compared to $27,839 as
of December 31, 2004. We believe that current cash on hand is not sufficient to
satisfy our cash requirements for the next twelve months, which we estimate to
be approximately $25,000. Due to the fact that our limited operations have not
generated cash flow sufficient to cover ongoing business expenses and/or we
purchase additional equipment, we may have to rely on our directors, or on
outside sources, to provide additional funds. However, we have no agreements
with anyone to provide future funds to our company. If our directors are unable
to provide future funding, if the need arises, we may have to look at
alternative sources of funding. We do not have any firm plans as to the source
of this alternative funding and there is no assurance that such funds will be
available or, that even if they are available, that they will be available on
terms that will be acceptable to us. In the event we are unable to secure
necessary future funding, we may have to curtail our business or cease
operations completely.

     At December 31, 2005, we had total assets of $18,612 and stockholders'
equity of $67,082, compared to total assets of $27,839 and total stockholders'
equity of $33,686 at December 31, 2004.



                                       14
<PAGE>

Net Operating Loss

     We have accumulated approximately $60,600 of net operating loss
carryforwards as of December 31, 2005, which may be offset against taxable
income and income taxes in future years. The use of these losses to reduce
future income taxes will depend on the generation of sufficient taxable income
prior to the expiration of the net operating loss carryforwards. The
carry-forwards expire in the year 2025. In the event of certain changes in
control, there will be an annual limitation on the amount of net operating loss
carryforwards which can be used. No tax benefit has been reported in the
financial statements for the year ended December 31, 2005 because there is a 50%
or greater chance that the carryforward will not be used. Accordingly, the
potential tax benefit of the loss carryforward is offset by a valuation
allowance of the same amount.

Forward Looking and Cautionary Statements

     This report, including the sections entitled "Business," "Risk Factors" and
"Management's Discussion and Analysis or Plan of Operations" contains
forward-looking statements. These statements relate to future events or our
future financial performance and involve known and unknown risks and
uncertainties. These factors may cause our company's or our industry's actual
results, levels of activity, performance or achievements to be materially
different from those expressed or implied by the forward- looking statements.
These risks and other factors include those listed under "Risk Factors" and
elsewhere in this report. In some cases, you can identify forward-looking
statements by terminology such as "may," "will" "should," "expects," "intends,"
"plans," anticipates," "believes," "estimates," "predicts," "potential,"
"continue," or the negative of these terms or other comparable terminology.

    You should be aware that a variety of factors could cause actual results to
differ materially from the anticipated results or other matters expressed in
forward-looking statements. These risks and uncertainties, many of which are
beyond our control, include:

      *     the sufficiency of existing capital resources and our ability to
            raise additional capital to fund cash requirements for future
            operations;

      *     uncertainties following any successful acquisition or merger related
            to the future rate of growth of our business and acceptance of our
            products and/or services;

      *     volatility of the stock market, particularly within the technology
            sector; and

      *     general economic conditions.

     Although we believe the expectations reflected in these forward-looking
statements are reasonable, such expectations cannot guarantee future results,
levels of activity, performance or achievements.

     You are cautioned that any forward-looking statements are not guarantees of
future performance and are subject to risks and uncertainties. Actual results
may differ materially from those included within the forward-looking statements
as a result of various factors. Cautionary statements in the risk factors
section and elsewhere in this report identify important risks and uncertainties
affecting our future, which could cause actual results to differ materially from
the forward-looking statements made in this report.



                                       15
<PAGE>


Recent Accounting Pronouncements

     In January 2003, the Financial Accounting Standards Board, or FASB, issued
Interpretation No. 46 ("FIN 46"), Consolidation of Variable Interest Entities,
which addresses the consolidation of business enterprises (variable interest
entities), to which the usual condition of consolidation, a controlling
financial interest, does not apply. FIN 46 requires an entity to assess its
business relationships to determine if they are variable interest entities. As
defined in FIN 46, variable interests are contractual, ownership or other
interests in an entity that change with changes in the entity's net asset value.
Variable interests in an entity may arise from financial instruments, service
contracts, guarantees, leases or other arrangements with the variable interest
entity. An entity that will absorb a majority of the variable interest entity's
expected losses or expected residual returns, as defined in FIN 46, is
considered the primary beneficiary of the variable interest entity. The primary
beneficiary must include the variable interest entity's assets, liabilities and
results of operations in its consolidated financial statements. FIN 46 is
immediately effective for all variable interest entities created after January
31, 2003. For variable interest entities created prior to this date, the
provisions of FIN 46 were originally required to be applied no later than our
first quarter of Fiscal 2004. On October 8, 2003, the FASB issued FASB Staff
Position (FSP) FIN 46-6, Effective Date of FASB Interpretation No. 46,
Consolidation of Variable Interest Entities. The FSP provides a limited deferral
(until the end of our second quarter of 2004) of the effective date of FIN 46
for certain interests of a public entity in a variable interest entity or a
potential variable interest entity. We will continue to evaluate FIN 46, but due
to the complex nature of the analysis required by FIN 46, we have not determined
the impact on our consolidated results of operations or financial position.

     In April 2003, the FASB issued Statement of Financial Accounting Standards
(SFAS) SFAS No. 149, Amendment of Statement 133 on Derivative Instruments and
Hedging Activities. SFAS No. 149 amends and clarifies accounting for derivative
instruments, including certain derivative instruments embedded in other
contracts, and for hedging activities under SFAS No. 133. In particular, this
Statement clarifies under what circumstances a contract with an initial net
investment meets the characteristic of a derivative and when a derivative
contains a financing component that warrants special reporting in the statement
of cash flows. We adopted this standard for contracts entered into or modified
after June 30, 2003. The adoption of SFAS No. 149 did not have a material impact
on our consolidated results of operations or financial position.

     In May 2003, the FASB issued SFAS No. 150, Accounting for Certain Financial
Instruments with Characteristics of both Liabilities and Equity. This Statement
requires certain financial instruments that embody obligations of the issuer and
have characteristics of both liabilities and equity to be classified as
liabilities. We adopted this standard for financial instruments entered into or
modified after May 31, 2003. The adoption of SFAS No. 150 did not have a
material impact on our consolidated results of operations or financial position.

     On December 16, 2004 the FASB issued SFAS No. 123(R), Share-Based Payment,
which is an amendment to SFAS No. 123, Accounting for Stock-Based Compensation.
This new standard eliminates the ability to account for share-based compensation
transactions using Accounting Principles Board ("APB") Opinion No. 25,
Accounting for Stock Issued to Employees, and generally requires such
transactions to be accounted for using a fair-value-based method and the
resulting cost recognized in our financial statements. This new standard is
effective for awards that are granted, modified or settled in cash in interim
and annual periods beginning after June 15, 2005. In addition, this new standard
will apply to unvested options granted prior to the effective date. We will
adopt this new standard effective for the fourth fiscal quarter of 2005, and
have not yet determined what impact this standard will have on our financial
position or results of operations.

     In November 2004, the FASB issued SFAS No. 151, Inventory Costs - an
amendment of ARB No. 43, Chapter 4. This Statement amends the guidance in ARB
No. 43, Chapter 4, "Inventory Pricing," to clarify the accounting for abnormal
amounts of idle facility expense, freight, handling costs, and wasted material
(spoilage). Paragraph 5 of ARB 43, Chapter 4, previously stated that ". . .
under some circumstances, items such as idle facility expense, excessive
spoilage, double freight, and rehandling costs may be so abnormal as to require
treatment as current period charges. . . ." This Statement requires that those
items be recognized as current-period charges regardless of whether they meet
the criterion of "so abnormal." In addition, this Statement requires that
allocation of fixed production overheads to the costs of conversion be based on
the normal capacity of the production facilities. This statement is effective
for inventory costs incurred during fiscal years beginning after June 15, 2005.
Management does not believe the adoption of this Statement will have any
immediate material impact on the company.



                                       16
<PAGE>


     In December 2004, the FASB issued SFAS No. 152, Accounting for Real Estate
Time-sharing Transactions, which amends FASB statement No. 66, Accounting for
Sales of Real Estate, to reference the financial accounting and reporting
guidance for real estate time-sharing transactions that is provided in AICPA
Statement of Position (SOP) 04-2, Accounting for Real Estate Time-Sharing
Transactions. This statement also amends FASB Statement No. 67, Accounting for
Costs and Initial Rental Operations of Real Estate Projects, to state that the
guidance for (a) incidental operations and (b) costs incurred to sell real
estate projects does not apply to real estate time-sharing transactions. The
accounting for those operations and costs is subject to the guidance in SOP
04-2. This Statement is effective for financial statements for fiscal years
beginning after June 15, 2005. Management believes the adoption of this
Statement will have no impact on the financial statements of the company.

     In December 2004, the FASB issued SFAS No.153, Exchange of Nonmonetary
Assets. This Statement addresses the measurement of exchanges of nonmonetary
assets. The guidance in APB Opinion No. 29, Accounting for Nonmonetary
Transactions, is based on the principle that exchanges of nonmonetary assets
should be measured based on the fair value of the assets exchanged. The guidance
in that Opinion, however, included certain exceptions to that principle. This
Statement amends Opinion 29 to eliminate the exception for nonmonetary exchanges
of similar productive assets and replaces it with a general exception for
exchanges of nonmonetary assets that do not have commercial substance. A
nonmonetrary exchange has commercial substance if the future cash flows of the
entity are expected to change significantly as a result of the exchange. This
Statement is effective for financial statements for fiscal years beginning after
June 15, 2005. Earlier application is permitted for nonmonetary asset exchanges
incurred during fiscal years beginning after the date of this statement is
issued. Management believes the adoption of this Statement will have no impact
on the financial statements of the company.

Item  7.      Financial Statements

     Financial statements for the fiscal years ended December 31, 2005 and 2004
have been examined to the extent indicated in their reports by HJ & Associates,
LLC, independent certified public accountants and have been prepared in
accordance with generally accepted accounting principles and pursuant to
Regulation S-B as promulgated by the SEC. The aforementioned financial
statements are included herein under starting with page F-1.

Item  8.      Changes in and Disagreements with Accountants on Accounting and
              Financial Disclosure

     We have not had any disagreements with our certified public accountants
with respect to accounting practices or procedures of financial disclosures.

Item  8A.     Controls and Procedures

     As of the end of the period covered by this report, we carried out an
evaluation, under the supervision and with the participation of management,
including our chief executive officer and chief financial officer, of the
effectiveness of the design and operation of our disclosure controls and
procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities
Exchange Act of 1934. Based upon that evaluation, our chief executive officer
and chief financial officer concluded that our disclosure controls and
procedures are effective to cause the material information required to be
disclosed by us in the reports that we file or submit under the Exchange Act to
be recorded, processed, summarized and reported within the time periods
specified in the SEC's rules and forms. There have been no significant changes
in our internal controls or in other factors which could significantly affect
internal controls subsequent to the date we carried out our evaluation.


                                       17
<PAGE>


Item  8B.     Other Information

     Not applicable.

                                    PART III

Item  9.      Directors, Executive Officers, Promoters and Control Persons;
              Compliance with Section 16(a) of the Exchange Act

     The following table sets forth the names, ages, and offices held by our
directors and executive officers:

         Name                       Age           Position
         ----                       ---           --------
         Lane S. Clissold           54            President and Director
         Steven D. Moulton          44            Chief Accounting Officer and
                                                  Director
----------------------

     All directors hold office until the next annual meeting of stockholders and
until their successors have been duly elected and qualified. There are no
agreements with respect to the election of directors. We have not compensated
directors for service on the board of directors or any committee thereof, but
directors are entitled to be reimbursed for expenses incurred for attendance at
meetings of the board and any committee of the board. However, due to our lack
of funds, the directors will defer their expenses and any compensation until
such time as business warrants such expenses. As of the date hereof, no director
has accrued any expenses or compensation. Officers are appointed annually by the
board and each executive officer serves at the discretion of the board. We do
not have any standing committees.

     No director, officer, affiliate or promoter of Jump'n Jax has, within the
past five years, filed any bankruptcy petition, been convicted in or been the
subject of any pending criminal proceedings, or is any such person the subject
or any order, judgment, or decree involving the violation of any state or
federal securities laws.

     All of our present directors have other full-time employment or sources of
income and will routinely devote only such time to our business as necessary. It
is estimated that each director will devote less than ten hours per month to our
business activities.

     Currently, there is no arrangement, agreement or understanding between
management and non-management stockholders under which non-management
stockholders may directly or indirectly participate in or influence the
management of our affairs. Present management openly accepts and appreciates any
input or suggestions from stockholders. However, the board is elected by the
stockholders and the stockholders have the ultimate say in who represents them
on the board. There are no agreements or understandings for any officer or
director to resign at the request of another person and none of the current
offers or directors are acting on behalf of, or will act at the direction of any
other person.

     The business experience of each of the persons listed above during the past
five years is as follows:

     Lane S. Clissold became a director and Vice President of Jump'n Jax in May
2004. Mr. Clissold served as President and a director of our parent corporation,
Draco, Inc. from August 1999 to March 2004. Mr. Clissold graduated from Skyline
High School in Salt Lake City, Utah in 1969. From 1969 until 1979, Mr. Clissold
worked for the Utah Department of Transportation in the construction engineering
and safety departments. During that time, Mr. Clissold attended Utah State
University, the University of Utah and Brigham Young University. Mr. Clissold
graduated from BYU/DOT in 1976 with a degree in engineering. In 1977, Mr.
Clissold bought Alpine Auto Renovations and currently serves as its President
and co-owner. Mr. Clissold has been an officer and director of other publicly
held developmental stage companies including Sound Industries, (Director and
President from January of 1995 until May of 1997); Rotunda Oil and Mining,
(Director and President from November 1995 to November of 1998), and is
currently a director and Secretary/Treasurer of Treasure Mountain Holdings, Inc.



                                       18
<PAGE>


     Steven D. Moulton became a director and Secretary/Treasurer of Jump' Jax in
September 2000. Mr. Moulton served as Secretary/Treasurer and a director of our
parent corporation, Draco, Inc. from August 1999 to March 2004. Mr. Moulton
graduated from Olympus High School in Salt Lake City, Utah in 1980. From 1984 to
1990, he served as a director and executive officer of several publicly-held
development stage companies including Safron, Inc. (director and Vice
President); Sagitta Ventures (director and President); Jasmine Investments
(director and President); Java, Inc. (Secretary/Treasurer and director); and
Onyx Holdings Corporation (director and President). From 1991 to 1994, Mr.
Moulton was a director and President of Omni International Corporation, which is
currently known as "Beachport Entertainment Corporation." From 1987 until 1991
he was President and director of Icon Systems, Inc. and served as
Secretary/Treasurer of the same company until his resignation on December 24,
1998. From 1995 to July 1996, he served as director and Vice President of
Wasatch International Corporation, formerly Java, Inc. From February 1996 until
November, 1999 he served as the President and director of InsiderStreet.com,
formerly Sierra Holding Group, Inc. Also since 1998, Mr. Moulton has managed his
personal real estate properties through Excel Properties, LLC.

     Since December, 1997, Mr. Moulton has been associated with Rocky Mountain
Fudge Company, Inc. (director and Vice President), a public candy company. From
December 1997 until June 2001, Mr. Moulton was the President and a director of
Quazon Corp., a blank check company. In June 2001, Quazon Corp. acquired
Scientific Energy, Inc., and Mr. Moulton resigned as an officer and director of
Quazon Corp. at that time. Quazon is now known as Electronic Game Card, Inc.
From December, 1997 until approximately September 1999, Mr. Moulton served as a
director and President of Bear Lake Recreation, Inc., a public snowmobile rental
company. Also, from December 1997 to March 2004, Mr. Moulton was a director and
President of XEBec International, Inc., a company looking for a merger or
acquisition. With the exception of Sagitta Ventures, Omni International
Corporation, Wasatch International, Icon Systems, Inc. and InsiderStreet.com,
formerly, Sierra Holding Group, Inc, none of these companies was subject to the
reporting requirements of the commission. Mr. Moulton owned and operated a
Chem-Dry carpet cleaning franchise from 1991 to 1995.

Item  10.     Executive Compensation

     Since being spun-off from Draco, Inc., we have not paid our officers and
directors for their services. We made payments to James Wheeler, who was an
officer, for his services as a bounce-house administrator, but not for his
services as an officer. We currently have no plans to begin paying officers and
directors for their services.

     We have not issued or granted any deferred compensation or long-term
incentive plan awards to management during the past two fiscal years. Further,
no member of management has been granted any option or stock appreciation
rights.

     There are no employment contracts, compensatory plans or arrangements,
including payments to be received from Jump'n Jax, with respect to any director
or executive officer which would in any way result in payments to any such
person because of his or her resignation, retirement or other termination of
employment with Jump'n Jax, or its subsidiaries, any change in control, or a
change in the person's responsibilities following a change in control.

     There are no agreements or understandings for any director or executive
officer to resign at the request of another person. None of our directors or
executive officers is acting on behalf of or will act at the direction of any
other person.



                                       19
<PAGE>



Item  11.     Security Ownership of Certain Beneficial Owners and Management and
              Related Stockholder Matters

     The following table sets forth information, to the best of our knowledge,
as of February 28, 2006, with respect to each person known by us to own
beneficially more than 5% of the outstanding common stock, each director and all
directors and officers as a group.

Name and Address                       Amount and Nature of       Percent
of Beneficial Owner                    Beneficial Ownership      of Class(1)
---------------------                  --------------------      -----------

Lane S. Clissold *                             261,167               42.9 %
  3270 South 1100 West
  South Salt Lake, Utah 84119

Steven D. Moulton *                            262,192               43.2 %
  4848 S. Highland Dr., #353
  Salt Lake City, Utah  84117

All directors and officers                     523,359               86.1 %
  a group (3 persons)

      *  Director and/or executive officer

     Note:    Unless otherwise indicated in the footnotes below, we have been
              advised that each person above will have sole voting power over
              the shares indicated above.

     (1) Based upon 608,430 shares of common stock outstanding as of February
28, 2006.

Item  12.     Certain Relationships and Related Transactions

     We have not had any material transactions during the past two fiscal years
with any officer, director, nominee for election as director, or any stockholder
owning greater than five percent (5%) of our outstanding shares, nor any member
of the above referenced individuals' immediate family except as set forth below.

     One of our directors, Steven Moulton, has periodically made various loans
to us as funds as needed to cover operating expenses. Through May 20, 2005, Mr.
Moulton had loaned us $35,000. In August 2004, another director, Lane Clissold,
made a loan of $20,000 to the company pursuant to the same terms as previous
loans. On May 20, 2005, these loans, including accrued interest, totaled
$64,500. On May 20, 2005, we issued a total of 333,334 post-split shares to
Messrs. Moulton and Clissold, as payment in full on the outstanding notes and
related accrued interest.

Potential Conflict of Interest

     We have no formal conflict of interest policy in place regarding the
possibility of our entering into transactions with affiliates. We lack such a
policy because we believe it highly unlikely that we will acquire or do business
with an entity in which members of our management have an ownership interest,
directly or indirectly. However, in the event a related party transaction did
arise, it would almost certainly be ratified by a disinterested board of
directors and, possibly, by the stockholders if deemed necessary. Management
intends do whatever is necessary to fully and completely comply with Utah
corporate law relating to conflicting interest transactions as set forth in the
Utah Revised Business Corporation Act.

     Additionally, our officers and directors are subject to the "doctrine of
corporate opportunities" insofar as it applies to a business opportunity or
transaction in which Jump'n Jax has indicated an interest. If any officer or
director is presented with a business opportunity or transaction that may
conflict with a business interests previously identified by our company, such
opportunity or transaction must be promptly disclosed to the board of directors
and made available to Jump'n Jax. In the event the board rejects an opportunity
or transaction so presented, and only in that event, any of our officers or
directors may avail themselves of such an opportunity. Every effort will be made
to resolve any conflicts that may arise in favor of Jump'n Jax. There can be no
assurance, however, that these efforts will be successful.



                                       20
<PAGE>


Item  13.     Exhibits

Exhibit No.       Exhibit Name
-----------       ------------
    3.1(1)        Articles of Incorporation
    3.2(1)        By-Laws
    4.1(1)        Instrument defining rights of holders (See Exhibit No. 3.1,
                  Articles of Incorporation)

--------------
     (1) Filed as exhibit to Form SB-2 registration statement filed September 9,
         2004.

Item 14.      Principal Accountants Fees and Services

     We do not have an audit committee and as a result our entire board of
directors performs the duties of an audit committee. Our board of directors will
approve in advance the scope and cost of the engagement of an auditor before the
auditor renders audit and non-audit services. As a result, we do not rely on
pre-approval policies and procedures.

     Audit Fees

     The aggregate fees billed by our independent auditors, HJ & Associates, for
professional services rendered for the audit of our annual financial statements
included in this report and in our registration statement on Form SB-2 for the
fiscal years ended December 31, 2005 and 2004, and for the review of quarterly
financial statements included in our registration statement for the quarters
ended March 31, June 30 and September 30, 2005 were approximately $10,000.

     Audit Related Fees

     For the fiscal years ended December 31, 2005 and 2004, there were no fees
billed for assurance and related services by HJ & Associates relating to the
performance of the audit of our financial statements which are not reported
under the caption "Audit Fees" above.

     Tax Fees

     For the fiscal years ended December 31, 2005 and 2004, there were no fees
billed by HJ & Associates for tax compliance, tax advice and tax planning.

     We do not use H J & Associates for financial information system design and
implementation. These services, which include designing or implementing a system
that aggregates source data underlying the financial statements or generates
information that is significant to our financial statements, are provided
internally or by other service providers. We do not engage H J & Associates to
provide compliance outsourcing services.

     The board of directors has considered the nature and amount of fees billed
by H J & Associates and believes that the provision of services for activities
unrelated to the audit is compatible with maintaining HJ & Associates'
independence.


                                       21
<PAGE>


                                   SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                       Jump'n Jax, Inc.



                                       By:     /S/ STEVEN D. MOULTON
                                          --------------------------------------
                                               Steven D. Moulton
                                               Chief Accounting Officer

Dated:   March 24, 2006

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

           Signature                        Title                    Date
           ---------                        -----                    ----


/S/   LANE S. CLISSOLD             President and Director        March 24, 2006
------------------------------
         Lane S. Clissold



/S/  STEVEN D. MOULTON             Chief Accounting Officer      March 24, 2006
------------------------------     and Director
         Steven D. Moulton




                                       22


<PAGE>








                                JUMP'N JAX, INC.
                          (A Development Stage Company)


                              FINANCIAL STATEMENTS


                                December 31, 2005








<PAGE>

                                 C O N T E N T S


Report of Independent Registered Public Accounting Firm....................3

Balance Sheet..............................................................4

Statements of Operations...................................................5

Statements of Stockholders' Equity (Deficit)...............................6

Statements of Cash Flows...................................................7

Notes to the Financial Statements..........................................8




<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Shareholders and the Board of Directors
Jump'n Jax, Inc.
(A Development Stage Company)
Salt Lake City, Utah

We have audited the accompanying balance sheet of Jump'n Jax, Inc. (a
development stage company)(the Company) as of December 31, 2005 and the related
statements of operations, stockholders' equity (deficit) and cash flows for the
years ended December 31, 2005 and 2004. These statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Jump'n Jax, Inc. (a development
stage company) as of December 31, 2005 and the results of its operations and its
cash flows for the years ended December 31, 2005 and 2004 in conformity with
generally accepted accounting principles.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 2 to the
financial statements, the Company has sustained recent losses from operations,
has minimal operating revenue, and a stockholders' deficit. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
Management's plans in regard to these matters are also described in Note 2. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.



HJ & Associates, LLC
Salt Lake City, Utah
February 21, 2006



                                       3
<PAGE>



                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                                  Balance Sheet



   ASSETS

                                                                    December 31,
                                                                       2005
                                                                     --------

CURRENT ASSETS

      Cash                                                           $ 15,660
                                                                     --------

             Total Current Assets                                      15,660
                                                                     --------

OTHER ASSETS

      Net assets of discontinued operations (Note 5)                    2,952
                                                                     --------

             Total Other Assets                                         2,952
                                                                     --------

             TOTAL ASSETS                                            $ 18,612
                                                                     ========



             LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

      Accounts payable                                               $  4,194
                                                                     --------

             Total Current Liabilities                                  4,194
                                                                     --------


STOCKHOLDERS' EQUITY (DEFICIT)

      Common stock; 50,000,000 shares authorized,
        at $0.001 par value, 608,430 shares
       issued and outstanding                                             608
      Additional paid-in capital                                       80,892
      Accumulated deficit                                             (67,082)
                                                                     --------

             Total Stockholders' Equity (Deficit)                      14,418
                                                                     --------

             TOTAL LIABILITIES AND STOCKHOLDERS'  EQUITY (DEFICIT)   $ 18,612
                                                                     ========




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

                                        4


<PAGE>


                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                            Statements of Operations



                                              For the Years Ended
                                                  December 31,
                                             ----------------------
                                               2005         2004
                                             ---------    ---------


REVENUES                                     $    --      $    --
                                             ---------    ---------

EXPENSES

     General and Administrative                 55,736       23,336
                                             ---------    ---------

          Total Expenses                        55,736       23,336
                                             ---------    ---------

OPERATING LOSS                                 (55,736)     (23,336)
                                             ---------    ---------

OTHER EXPENSES

     Other Income                               25,000         --
     Interest Expense                           (2,139)      (3,541)
                                             ---------    ---------

          Total Other Income (Expenses)         22,861       (3,541)
                                             ---------    ---------

LOSS FROM CONTINUING OPERATIONS                (32,875)     (26,877)
                                             ---------    ---------


LOSS FROM DISCONTINUED OPERATIONS (Note 5)        (520)      (6,023)
                                             ---------    ---------


NET LOSS                                     $ (33,395)   $ (32,900)
                                             =========    =========


BASIC LOSS PER SHARE

          Continuting operations             $   (0.07)   $   (0.11)

          Discontinued operations            $   (0.00)   $   (0.03)
                                             ---------    ---------

          Total Basic Net Loss Per Share     $   (0.07)   $   (0.14)
                                             =========    =========


WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                         463,381      235,348
                                             =========    =========


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

                                        5

<PAGE>


                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)




                                       Common Stock      Additional
                                    -------------------   Paid-In   Accumulated
                                     Shares     Amount    Capital     Deficit
                                    --------   --------   --------    --------

Balance, December 31, 2003           235,348   $    235   $    765    $   (787)

Net loss for the year ended
  December 31, 2004                     --         --         --       (32,900)
                                    --------   --------   --------    --------

Balance, December 31, 2004           235,348        235        765     (33,687)

Common shares issued to
directors for debt at $0.1935
  per share                          333,334        333     64,167        --

Common shares issued for
  services at $0.12 per share         33,333         34      3,966        --

Fractional shares issued
  pursuant to reverse stock-split      6,415          6         (6)       --

Contributed services                    --         --       12,000        --

Net loss for the year ended
  December 31, 2005                     --         --         --       (33,395)
                                    --------   --------   --------    --------

Balance, December 31, 2005           608,430   $    608   $ 80,892    $(67,082)
                                    ========   ========   ========    ========


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

                                        6


<PAGE>


                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                            Statements of Cash Flows

<TABLE>
<CAPTION>
                                                                        For the Years Ended
                                                                           December 31,
                                                                        --------------------
                                                                          2005        2004
                                                                        --------    --------
<S>                                                                     <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES

      Net loss                                                          $(33,395)   $(32,900)

      Adjustments to reconcile net loss to net cash used by operating
        activities:
             Common stock issued for services                              4,000        --
             Services contributed by officers                             12,000        --
             Depreciation expense                                          2,440       3,427
      Changes in operating assets and liabilities
             Increase in accounts payable                                    637       3,556
             Increase in accrued interest - related                        2,139       3,541
                                                                        --------    --------

                   Net Cash Used by Operating Activities                 (12,179)    (22,376)
                                                                        --------    --------

CASH FLOWS FROM INVESTING ACTIVITIES                                        --          --
                                                                        --------    --------

CASH FLOWS FROM FINANCING ACTIVITIES

             Increase in note payable - shareholder                         --        45,000
                                                                        --------    --------

                   Net Cash Provided by Financing Activities                --        45,000
                                                                        --------    --------

NET INCREASE (DECREASE) IN CASH                                          (12,179)     22,624

CASH AT BEGINNING OF YEAR                                                 27,839       5,215
                                                                        --------    --------

CASH AT END OF YEAR                                                     $ 15,660    $ 27,839
                                                                        ========    ========

SUPPLEMENTAL DISCLOSURES OF
      CASH FLOW INFORMATION

      CASH PAID FOR:

             Interest                                                   $   --      $   --
             Income Taxes                                               $    100    $   --

      NON-CASH FINANCING ACTIVITIES

             Common stock issued for services                           $  4,000    $   --
             Common stock issued for extinguishment of
               related party debt                                       $ 64,500    $   --
             Services contributed by director                           $ 12,000    $   --
</TABLE>



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

                                        7

<PAGE>

                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                           December 31, 2005 and 2004


NOTE 1 -    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     a. Organization

     Jump'n Jax, Inc. (the Company) was incorporated as a Utah Corporation in
     March 2000. The Company was in the business of equipment rental and the
     leasing of inflatable bounce houses for parties and entertainment.

     b. Provision for Taxes

     Deferred taxes are provided on a liability method whereby deferred tax
     assets are recognized for deductible temporary differences and operating
     loss and tax credit carryforwards and deferred tax liabilities are
     recognized for taxable temporary differences. Temporary differences are the
     differences between the reported amounts of assets and liabilities and
     their tax bases. Deferred tax assets are reduced by a valuation allowance
     when, in the opinion of management, it is more likely than not that some
     portion or all of the deferred tax assets will not be realized. Deferred
     tax assets and liabilities are adjusted for the effects of changes in tax
     laws and rates on the date of enactment.

     Net deferred tax assets consist of the following components as of December
31, 2005 and 2004:


                                                       2005              2004
                                                     --------          --------
     Deferred tax assets:
       NOL Carryover                                 $ 16,548          $ 12,300

     Deferred tax liabilities:
       Depreciation                                      (330)             (645)

     Valuation allowance                              (16,218)          (11,655)
                                                     --------          --------
     Net deferred tax asset                          $   --            $   --
                                                     ========          ========

     The income tax provision differs from the amount of income tax determined
     by applying the U.S. federal and state income tax rates of 39% to pretax
     income from continuing operations for the years ended December 31, 2005 and
     2004 due to the following:

                                                         2005            2004
                                                       --------        --------
     Book Income                                       $(13,024)       $(12,831)
     Stock for services                                   1,560            --
     Contributed services                                 4,680            --
     Accrued interest                                       834            --
     Meals and entertainment                                 12            --
     State tax                                               39             (39)
     Valuation allowance                                  5,899          12,870
                                                       --------        --------
                                                       $   --          $   --
                                                       ========        ========

     At December 31, 2005, the Company had net operating loss carryforwards of
     approximately $60,600 that may be offset against future taxable income from
     the year 2005 through 2025. No tax benefit has been reported in the
     December 31, 2005 financial statements since the potential tax benefit is
     offset by a valuation allowance of the same amount.



                                       8
<PAGE>


                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                  Notes to the Financial Statements (Continued)
                           December 31, 2005 and 2004


NOTE 1 -    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

     b. Provision for Taxes (Continued)

     Due to the change in ownership provisions of the Tax Reform Act of 1986,
     net operating loss carryforwards for Federal income tax reporting purposes
     are subject to annual limitations. Should a change in ownership occur, net
     operating loss carryforwards may be limited as to use in future years.

     c. Accounting Method

     The financial statements are prepared using the accrual method of
accounting. The Company has elected a calendar year-end.

     d. Estimates

     The preparation of financial statements in conformity with accounting
     principles generally accepted in the United States of America requires
     management to make estimates and assumptions that affect the reported
     amounts of assets and liabilities and disclosure of contingent assets and
     liabilities at the date of the financial statements and the reported
     amounts of revenues and expenses during the reporting period. Actual
     results could differ from those estimates.

     e. Revenue Recognition

     Revenues were recognized when rentals of equipment were completed and cash
     was received. The Company rents-out entertainment equipment for parties and
     other group gatherings. No products are sold and no inventory is on hand.

     f. Basic Loss Per Share

     The computations of basic loss per share of common stock are based on the
     weighted average number of shares of common stock outstanding during the
     period of the financial statements.

                                                For the Years Ended December 31,
                                                    2005               2004
                                                  ---------         ---------
     Basic loss per share:
     Numerator - net loss                         $ (33,395)        $ (32,900)
     Denominator - weighted average
      number of shares outstanding                  463,381           235,348
                                                  ---------         ---------

     Loss per share                               $   (0.07)        $   (0.14)
                                                  =========         =========

NOTE 2 -    GOING CONCERN

     The Company's financial statements are prepared using accounting principles
     generally accepted in the United States of America applicable to a going
     concern which contemplates the realization of assets and liquidation of
     liabilities in the normal course of business. The Company has not
     established revenues sufficient to cover its operating costs and allow it
     to continue as a going concern. Management intends to increase operations
     through expanding its operations into other locals, in the interim,
     management and primary shareholders are committed to meeting the Company
     minimal operating expenses.



                                       9
<PAGE>


                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                  Notes to the Financial Statements (Continued)
                           December 31, 2005 and 2004


NOTE 3 -    STOCK TRANSACTIONS

     On May 20, 2005, the board of directors authorized the issuance of a total
     of 333,334 post-split shares ("the issuance") of common stock, separately,
     to Lane S. Clissold (166,667) and Steven D. Moulton (166,667), two of the
     Company's directors and principal owners. The shares were issued in
     consideration for Messrs. Clissold's and Moulton's agreement to convert
     into shares of common stock all amounts due and owing to them resulting
     from loans and/or advances made to the Company. As a result of the
     issuance, the loans and/or advances made by Messrs. Clissold and Moulton to
     Jump'n Jax through May 15, 2005, and all accrued interest thereon, were
     deemed to be paid in full. The shares were valued at $0.1935 per share for
     total consideration of $64,500. The Company has not received any additional
     loans and/or advances from either Mr. Clissold or Mr. Moulton subsequent to
     the issuance.

     On May 25, 2005, the Company authorized the issuance of 33,333 post-split
     shares of common stock to an unrelated individual pursuant to a service
     agreement as consideration for services rendered to the Company. The shares
     valued at $0.12 per share for total consideration of $4,000.

     On October 10, 2005, the Company completed a one-share-for-twelve-shares
     reverse stock split of its common stock. All references to common stock
     activity in these financial statements have been retroactively restated to
     incorporate the effect of this reverse stock split. The total number of
     shares issued and outstanding immediately after the reverse stock split was
     608,430.

NOTE 4 -    RELATED PARTY TRANSACTIONS

     As needed, the Company's officers and directors have loaned the Company
     funds to cover operating expenses. These loans have accrued interest at a
     rate of 10.0% per annum, have been unsecured, and have been due upon
     demand. As of December 31, 2004, the outstanding balances on these notes
     totaled $55,000. In May 2005, the Company issued 333,334 post-split in
     order to pay-down the $55,000 note principal, as well as $9,500 in accrued
     interest, which satisfied in full the related party note payable

NOTE 5 -    DISCONTINUED OPERATIONS

     During the year ended December 31, 2005, the Company materially ceased all
     of its bounce-house operations, due in part to the resignation of its
     primary bounce-house employee. Although the Company maintains possession of
     the bounce houses, it has no immediate plans to pursue bounce house
     operations in the near future. For this reason, coupled with the fact that
     the Company has no other reliable source of revenue, the Company is deemed
     to have re-entered the development stage on January 1, 2006. All references
     to bounce house operations in these financial statements have been
     retroactively stated as discontinued operations. The results of the
     Company's discontinued operations for the years ended December 31, 2005 and
     2004 are shown below:


                                       10
<PAGE>


                                JUMP'N JAX, INC.
                          (A Development Stage Company)
                  Notes to the Financial Statements (Continued)
                           December 31, 2005 and 2004


NOTE 5 -    DISCONTINUED OPERATIONS (Continued)

                                                         For the Years Ended
                                                             December 31,
                                                         2005            2004
                                                       --------        --------

NOTE 5 -    DISCONTINUED OPERATIONS (Continued)

     REVENUES                                          $  5,295        $ 12,381

     EXPENSES

          Depreciation                                    2,440           3,427
          General and administrative                      3,375          14,977
                                                       --------        --------

                Total Expenses                            5,815          18,404
                                                       --------        --------

     LOSS FROM DISCONTINUED OPERATIONS$                    (520)       $ (6,023)
                                                       --------        --------

     LOSS FROM CONTINUING OPERATIONS                    (32,875)        (26,877)

     NET LOSS                                          $(33,395)       $(32,900)
                                                       ========        ========


                                       11