UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington,
D.C.  FORM 10-QSB (Mark
One) X QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the
quarterly period ended January 31, 2008  TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACTFor the transition
period from to Commission
file number 333-103621 CYCLON CAPITAL CORP. DELAWARE
333-11714(State or other jurisdiction of incorporation or
organization)
(IRS Employer Identification No.) 410 Park
Avenue, 15th Floor New
York, NY 10022 (Address
of principal executive offices)  (212) 231-8406(Issuers telephone number) MAX ENTERTAINMENT HOLDINGS, INC. (Former name, former address and former fiscal year, if changed
since last report) Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or
for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes .
[ X]  No .  [  ] Indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act).
               Yes
 [    ]  No [X]  APPLICABLE ONLY TO CORPORATE ISSUERS As of January 31, 2008, the Company had 67,980,774 issued and
outstanding shares of its common stock. Transitional Small Business Disclosure Format (Check one): Yes . [
 ] No . [X]   PART I  FINANCIAL INFORMATION  Item 1. Financial Statements.


Cyclon Capital Corporation(A Development Stage Company)Condensed  Balance SheetJanuary 31, 2008(Unaudited)ASSETS
As of Jan. 31,2008CURRENT
ASSETSCash
$
       1,639,880Prepaids
40,992Other
receivable
23,404Total
current assets
1,704,276Fixed Assets,
Net of depreciation
18,532OTHER
ASSETSDeposits
502,843Total
other assets
502,843TOTAL
ASSETS
$
       2,225,651LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT
LIABILITIESAccounts
payable and accrued liabilities
$
            42,989Wages
Payable
35,007Notes
Payable to vendors
180,068Notes
due to related party
75,100Total
current liabilities
333,164LONG-TERM
LIABILITIESNotes
due to related party
111,117Total
 liabilities
$
          444,281STOCKHOLDERS'
EQUITYCommon
stock, $.001 par value; 200,000,000 shares authorized,
10,60371,785,549
shares issued and outstanding at January 31, 2008Additional
paid-in capital
3,907,182Deficit
accumulated in the development stage
(2,136,415)Total
stockholders' equity
$
       1,781,370TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
$
       2,225,651   The
accompanying notes are an integral part of these financial statements.     Cyclon Capital Corporation(A Development Stage Company)Condensed  Statement of Operations(With Cumulative Totals Since Inception)(Unaudited)Three Months  Ended

Nine Months  Ended

August 26, 2005(Inception)January  31

January  31

January  31

January  31

to2008

2007

2008

2007

Jan. 31, 2008REVENUES
$
                -

$
                -

$
                -

$
                -

$
                    -COST OF
SALES
-

-

-

-GROSS
PROFIT
-

-

-

-

-OPERATING
EXPENSESOffice
and general
212,158

1,388

233,601

6,142

244,065Professional
fees
32,300

4,767

76,670

14,499

110,493Promotional
events fees
397,169



397,169



397,169Startup
cost




1,385,000



1,385,000Total
Operating Expenses
641,627

6,155

2,092,440

20,641

2,136,727LOSS BEFORE
OTHER INCOME (EXPENSE)
(641,627)

(6,155)

(2,092,440)

(20,641)

(2,136,727)OTHER INCOME
(EXPENSE)Interest
expense
(2,561)



(2,561)



(2,561)Interest
income
2,873



2,873



2,873Total
Other Income (Expense)
312

-

312

-

312NET LOSS
BEFORE PROVISION FOR INCOME TAXES
(641,315)

(6,155)

(2,092,128)

(20,641)

(2,136,415)Provision for
Income Taxes
-



-NET LOSS
APPLICABLE TO COMMON SHARES
$
     (641,315)

$
         (6,155)

$
  (2,092,128)

$
       (20,641)

$
      (2,136,415)BASIC AND
DILUTED LOSSPER
SHARE
$
           (0.01)

$
           (0.00)

$
           (0.03)

$
           (0.00)

$
               (0.03)WEIGHTED
AVERAGE NUMBEROF
COMMON SHARES
68,547,722

14,175,000

64,151,389

14,175,000

64,151,389   The
accompanying notes are an integral part of these financial statements.    Cyclon Capital Corporation(A Development Stage Company)Condensed Statement of Cash Flows(With Cumulative Totals Since Inception)(Unaudited)August 26, 2005Nine Months Ended

(Inception)Jan. 31,

Jan. 31,

to2008

2007

January 31, 2008CASH FLOWS
FROM OPERATING ACTIVITIESNet
loss
$
   (2,092,128)

$
       (20,641)

$
           (2,136,415)Adjustments
to reconcile net loss to net cash (used in)operating
activities:Depreciation
3,193



3,193Common
stock issued for services-Changes in
assets and liabilities




-(Increase)
in prepaid expenses
(40,992)



(40,992)(Increase)
decrease in deposits
(502,843)



(502,843)(Increase)
in notes receivable
(23,404)



(23,404)(Decrease)
in accounts receivable




-(Decrease)
in wages payable
35,007



35,007(Decrease)
in accounts payable
38,490

(2,005)

50,132-Total
adjustments
(490,549)

(2,005)

(478,907)Net
cash used in operating activities
(2,582,677)

(22,646)

(2,615,322)CASH FLOWS
FROM INVESTING ACTIVITIESPurchase
of fixed assets
(21,725)



(21,725)Investments
-

-

-Net
cash provided by (used in) investing activities
(21,725)

-

(21,725)CASH FLOWS
FROM FINANCING ACTIVITIESIssuance
of common stock for cash
2,499,982



2,529,032Issuance
of common stock for services
1,384,500



1,388,251Proceeds
from Loans from vendors
173,427



173,427Proceeds
from Related Party Loan to company
186,217

4,033

186,217Net
cash provided by financing activities
4,244,126

4,033

4,276,927NET INCREASE
(DECREASE) IN CASH AND CASH EQUIVALENTS
1,639,724

(18,613)

1,639,880CASH AND CASH
EQUIVALENTS-
BEGINNING OF PERIOD
156

18,818

-CASH AND CASH
EQUIVALENTS-
END OF PERIOD
$
     1,639,880

$
             205

$
             1,639,880SUPPLEMENTAL
DISCLOSURES OFNON-CASH
ACTIVITIES:Common
Stock issued for services
$
     1,384,500

$
                -

$
             1,388,251   The
accompanying notes are an integral part of these financial statements.    Cyclon Capital Corporation(A Development Stage Company)Condensed  Statement of  Stockholders' EquityAt
January 31, 2008DeficitCommon Stock

Additional

AccumulatedCommon

Par Value $.0001

Paid-In

during theShares

$ Amount

Capital

Development Stage

TotalBalance -
August 26, 2005 (Inception)

-

$
          -

$
     `
        -

$
                       -

$
            -Shares issued
for cash    (purchase  on 10/21/05)

10,000,000

1,000

3,000



4,000Shares issued
for cash    (purchase  on 10/21/05)

1,858,333

186

10,964



11,150-





-

-Shares issued
for cash    (purchase  on 12/02/05)

1,075,000

107

6,343

-

6,450Shares issued
for cash    (purchase  on 04/30/06)

1,241,667

124

7,326



7,450-

-



-

-Net loss for the
period August 26, 2005 (Inception)

-







-through
April 30, 2006

-

-

-

(14,515)

(14,515)Balance at
April 30, 2006

14,175,000

$
    1,417

$
      27,633

$
              (14,515)

$
     14,535-No activity in
fiscal year 2007-Net loss for the
year ended April 30, 2007

-

-

-

(26,020)

(26,020)Balance at
April 30, 2007

14,175,000

$
    1,417

$
      27,633

$
              (40,535)

$
   (11,485)Shares issued
for cash

-

-

-

-

-Shares issued
stock dividend 3 shares (May 17,2007)

42,525,000

4,253



(4,253)

-(14,175,000
 x  3 shares for dividend)Shares issued in
exchange for intellectual property rights

11,280,774

1,128

(1,128)

-

-(no
stated value of intellectual property)-

-



-

-Net loss for the
period ended July 31, 2007

-

-

-

(45,940)

(45,940)Balance at
July 31, 2007

67,980,774

6,798

26,505

(90,728)

(57,425)-Net loss for the
period ended October 31, 2007







(1,404,372)

(1,404,372)Balance at
October 31, 2007

67,980,774

6,798

26,505

(1,495,100)

(1,461,797)Shares issued
for cash  (purchase on 1/18/08)

3,250,975

3,251

2,496,731



2,499,982Shares issued in
exchange for services rendered

553,800

554

1,383,946



1,384,500Net loss for the
period ended January 31, 2008







(641,315)

(641,315)Balance at
January 31, 2008

71,785,549

10,603

3,907,182

(2,136,415)

1,781,370   The
accompanying notes are an integral part of these financial statements.


Cyclon Capital Corporation (Formerly Max Entertainment Holdings Inc.) (A
Development Stage Company) Notes
to the Condensed Financial Statements January 31, 2008   NOTE
1  BASIS
OF PRESENTATION AND NATURE OF BUSINESS AND ORGANIZATION  The accompanying unaudited condensed financial statements have
been prepared in accordance with generally accepted accounting principles for
interim financial information and with the instructions to Item 310 of
Regulation S-B.  Accordingly, they do not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements.  In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included.  Operating results for the nine months
ended January 31, 2008 are not necessarily indicative of the results that maybe
expected for the year ended April 30, 2008.  Cyclon
Capital Corporation (the Company) was formed on August 26, 2005 in the State
of Delaware under the name Eastern Exploration Corporation as a development
stage company.  The Company was originally organized to engage in the
business of natural resource exploration in the Province of Newfoundland,
Canada.  Eastern
Exploration Company formed a company by the name of 0736112 in British Columbia,
Canada, a wholly owned subsidiary, for the purposes of engaging in mining
activities.  On November 2, 2006 Eastern Exploration Company filed a
voluntary dissolution of, 0736112 B.C. Ltd.  A certificate of dissolution
was issued accordingly by the Registrar of Companies, Province of British
Columbia, Canada.  On
June 6, 2007 Eastern Exploration Corporation purchased substantially all the
assets of Max Entertainment Group, S.A., a Swiss corporation (Max S.A).
 Following the consummation of the asset purchase, Eastern Exploration
Corporation changed its name to Max Entertainment Holdings, Inc. (Max
Entertainment).  On
December 6, 2007, the Company has filed for and has been granted a name change
to Cyclon Capital Corporation.  The
Companys business plan is to be an entertainment company focusing on planning,
promoting and managing Mixed Martial Arts and Martial Arts Xtreme events;
merchandising; and the development of music, video, video games and other forms
of electronic entertainment related to Mixed Martial Arts and Martial Arts
Xtreme. The Company recognizes the potential of the internet and related
technologies such as mobile phones, VOIP, online communities, TV and radio as
means to bring X-treme entertainment to market.  The Company is considered to be in the development stage as
defined in Statement of Financial Accounting Standards (SFAS) No. 7,
"Accounting and Reporting by Development Stage Enterprises".  The
Company has devoted substantially all of its efforts to business planning and
development, as well as allocating a substantial portion of their time and
investment in bringing their product(s)/services to the market, and the raising
of capital.     8


Cyclon Capital Corporation (Formerly Max Entertainment Holdings Inc.) (A
Development Stage Company) Notes
to the Condensed Financial Statements January 31, 2008   NOTE
2-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  Use
of 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.  Cash
and Cash Equivalents  The Company considers all highly liquid debt instruments and
other short-term investments with an initial maturity of three months or less to
be cash or cash equivalents.  At January 31, 2008, the Company maintained cash and cash
equivalent balances at one financial institution that is insured by the Federal
Deposit Insurance Corporation up to $100,000.  Start-up
Costs  In accordance with the American Institute of Certified Public
Accountants Statement of Position 98-5, Reporting on the Costs of Start-up
Activities, the Company expenses all costs incurred in connection with the
start-up and organization of the Company.  Income
Taxes  The Company follows the liability method of accounting for income
taxes. Under this method, deferred tax assets are recognized for deductible
temporary differences 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.  As of January 31, 2008, the Company had net operating loss
carryforward, however, due to the uncertainty of realization, the Company has
provided a full valuation allowance for the deferred tax assets resulting from
the loss carryforward.


9


Cyclon Capital Corporation (Formerly Max Entertainment Holdings Inc.) (A Development Stage Company) Notes to the Condensed Financial Statements January 31, 2008   NOTE
2-   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(CONTINUED)  Earnings
(Loss) Per Share of Common Stock  Historical net loss per common share is computed using the
weighted average number of common shares outstanding. Diluted earnings (loss)
per share (EPS) reflect the potential dilution of securities that could share in
the earning of the company.  Because the Company does not have any
potential dilutive securities, the accompanying presentation is only on the
basic loss per share.  The following is a reconciliation of the computation for basic and
diluted earnings per share: Nine Months Ended
            January
312008

2007Net loss

($2,092,128)

($20,641)Weighted-average
common sharesOutstanding
(Basic)

71,785,549

14,175,000Weighted-average
common sharesOutstanding
(Diluted)

64,151,389

14,175,000   As of January 31, 2008 the Company had not adopted a stock option
plan nor had it granted any stock options. Accordingly no Stock-based
compensation has been has been recorded per SFAS No. 123R.  Recent
Accounting Pronouncement  In March 2006, the FASB issued SFAS No. 156, Accounting
for Servicing of Financial Assets, an amendment of FASB Statement No. 140.
SFAS No. 156 requires an entity to recognize a servicing asset or liability
each time it undertakes an obligation to service a financial asset by entering
into a servicing contract under a transfer of the servicers financial assets
that meets the requirements for sale accounting, a transfer of the servicers
financial assets to a qualified special-purpose entity in a guaranteed mortgage
securitization in which the transferor retains all of the resulting securities
and classifies them as either available-for-sale or trading securities in
accordance with SFAS No. 115, Accounting for Certain Investments in Debt
and Equity Securities and an acquisition or assumption of an obligation to
service a financial asset that does not relate to financial assets of the
servicer or its consolidated affiliates.


10


Cyclon Capital Corporation (Formerly Max Entertainment Holdings Inc.) (A
Development Stage Company) Notes
to the Condensed Financial Statements January 31, 2008  Recent
Accounting Pronouncement   Additionally, SFAS No. 156 requires all separately recognized
servicing assets and servicing liabilities to be initially measured at fair
value, permits an entity to choose either the use of an amortization or fair
value method for subsequent measurements, permits at initial adoption a one-time
reclassification of available-for-sale securities to trading securities by
entities with recognized servicing rights and requires separate presentation of
servicing assets and liabilities subsequently measured at fair value and
additional disclosures for all separately recognized servicing assets and
liabilities. SFAS No. 156 is effective for transactions entered into after
the beginning of the first fiscal year that begins after September 15,
2006. The Company is currently evaluating the effect the adoption of SFAS
No. 156 will have on its financial position or results of operations.  In September 2006, the FASB issued SFAF No. 157, Fair Value
Measurement. It establishes framework for measuring fair value and expands
disclosure about fair value measurement. The statement is effective for fiscal
years beginning after November 15, 1007 and interim periods with those fiscal
years.  The adoption of these pronouncements is not expected to have a
material effect on the Companys financial position or results of operations   NOTE
3- LOANS
FROM STOCKHOLDERS  The Company has borrowed funds from stockholders for working
capital purposes.  The loans are non-interest bearing and payable on
demand. As of January 31, 2008 the Company owes $75,100 to a stockholder.  NOTE
4- PROVISION
FOR INCOME TAXES  Deferred income taxes will be determined using the liability
method for the temporary differences between the financial reporting basis and
income tax basis of the Companys assets and liabilities.  Deferred income
taxes will be measured based on the tax rates expected to be in effect when the
temporary differences are included in the Companys tax return.  Deferred
tax assets and liabilities are recognized based on anticipated future tax
consequences attributable to differences between financial statement carrying
amounts of assets and liabilities and their respective tax bases.


11


Cyclon Capital Corporation (Formerly Max Entertainment Holdings Inc.) Global Resource Corporation (A
Development Stage Company) Notes
to the Condensed Financial Statements January 31, 2008  NOTE
4- PROVISION
FOR INCOME TAXES   At January 31, 2008 the deferred tax assets consist of the
following:  Nine Months EndedJanuary 31,2008Deferred taxes
due to netoperating loss
carryforwards
$     447,400Less:
 Valuation allowance
(447,400)Net deferred
tax asset

$
              -  At January 31, 2008, the Company had deficits accumulated
during the development stage in the approximate amount of $2,136,415 available
to offset future taxable income through 2026. The Company established valuation
allowances equal to the full amount of the deferred tax assets due to the
uncertainty of the utilization of the operating losses in future
periods.   NOTE
5- GOING
CONCERN  As shown in the accompanying financial statements, the Company
incurred substantial net losses for the periods ended January 31, 2008 and 2007,
and has no revenue stream to support itself. This raises doubt about the
Companys ability to continue as a going concern.  The Companys future success is dependent upon its ability to
raise additional capital to fund its business plan and ultimately to attain
profitable operations.  There is no guarantee that the Company will be able
to raise enough capital or generate revenues to sustain its operations.
 Management believes they can raise the appropriate funds needed to support
their business plan and acquire an operating, cash flow positive company.  The financial statements do not include any adjustments relating
to the recoverability or classification of recorded assets and liabilities that
might result should the Company be unable to continue as a going concern.


12


Cyclon Capital Corporation (Formerly Max Entertainment Holdings Inc.) (A
Development Stage Company) Notes
to the Condensed Financial Statements January 31, 2008   NOTE
6- STOCKHOLDERS
EQUITY  Common
Stock  On January 18, 2008, the Company issued 3,250,975 shares of common
stock in exchange for cash in the amount of $2,496,731 pursuant to a Stock
Purchase Agreement.  The Company also issued a total of 553,800 restricted
shares, of its common stock, to consultants for services rendered.  The
shares issued to consultants were, valued at $554.  Other transactions closed in the last nine (9) months and which
involved the issuance of Company stock were as follows:  On May 17, 2007 (Record Date) the Company declared and paid, to
all holders of record, as of the Record Date, of the Companys common stock, a
common stock dividend of 3 shares (with par value of $.001 per share) for each
share of common stock held as of the Record Date.  The par value of the
stock, issued as a dividend, was recorded to retained earnings.  A total of
42,525,000 shares of the Companys common stock were issued in payment of the
stock dividend.  On June 6, 2007, the Company entered into an Asset Purchase
Agreement with Max S.A...  The Company acquired the Assets of Max S.A. in
exchange for 11,280,774 shares of the Companys common stock. The asset value of
Max S.A. was undeterminable, and the par value of the Company stock was recorded
to additional paid in capital.   NOTE
7- RELATED
PARTY TRANSACTION   The Company owes the former sole director and President of Eastern
Exploration a total of $6,641.  There are no definite repayment terms, no
security guaranteeing repayment of the debt, nor is there any accruing interest.
 Fair value cannot be determined.


13


Item 2. Managements Discussion and Analysis or Plan of
Operation. Results
of Operations We
have generated no revenues since inception and have incurred $2,082,440 in
expenses through January 31, 2008. The
following table provides selected financial data about the Company for the
quarter ended January 31, 2008. Balance
Sheet Data: January 31, 2008 -------------------------
------------- Cash $ 1,639,880 Total
assets $ 1,704,276 Total
liabilities $ 333,164 Shareholders'
equity $ 1,781,370 Cash
provided by financing activities for the quarter ended January 31, 2008 was
$4,244,126. Plan
of Operation Statements
contained herein which are not historical facts constitute forward-looking
statements as that term is defined by the Private Securities Litigation Reform
Act of 1995. Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, such forward-looking statements
are subject to risks and uncertainties that could cause actual results to differ
from those projected. The Company cautions investors that any forward-looking
statements made by the Company are not guarantees of future performance and
actual results may differ materially from those in the forward-looking
statements. Such risks and uncertainties include, without limitation:
established competitors who have substantially greater financial resources and
operating histories, regulatory delays or denials, ability to compete as a
start-up company in a highly competitive market, and access to sources of
capital. The
following discussion and analysis should be read in conjunction with our
financial statements and notes thereto included elsewhere in this Form 10-QSB.
Except for the historical information contained herein, the discussion in this
Form 10-QSB contains certain forward-looking statements that involve risks and
uncertainties, such as statements of our plans, objectives, expectations and
intentions. The cautionary statements made in this Form 10-QSB should be read as
being applicable to all related forward-looking statements wherever they appear
in this Form 10-QSB. The Company's actual results could differ materially from
those discussed here. We
are a development-stage corporation and have not yet generated or realized any
revenues from our business operations. Our
auditors have issued a going concern opinion. This means that there is
substantial doubt that we can continue as an on-going business for the next
twelve months unless we obtain additional capital to pay for our expenses. That
is because we have not generated any revenues to date, and no revenues are
anticipated until we begin receiving income from our business plan, and there is
no assurance that we will ever reach this point. Accordingly,
we may have to raise additional capital from third-party sources. Until and
unless we begin generating revenues from operations, our only other source for
cash at this time would be to sell additional securities or obtain loans from
third parties.  There is no guarantee the Company would be able to
successfully sell its securities or obtain debt financing on terms acceptable
and/or beneficial to the Company. As of January 31, 2008, we had cash on hand of
$1,639,880. This may not enable us to fund operations for the next twelve
months; if we are unable to generate enough revenues to cover our expenses, we
may be forced to seek alternate sources to fund our operations. Over
the course of the next twelve months Cyclon intends to implement the following
portions of its plan of business development and operations: more fully develop
the relationship with G4; explore potential additional alliances and/or business
combinations with other entertainment and/or martial arts related companies;
organize, promote and manage in excess of ten (10) mixed martial arts events
throughout Europe; organize, promote and manage a "Martial Arts X-treme
Championship" event; assemble, train and manage a stable of MAX fighters;
develop a MAX collection of sportswear and casual clothing to be marketed
through an "online" marketplace and also to be sold in gyms; broadcast MAX
events via Cyclon's websites located at www.cycloncapital.com  and
www.maxfighters.com; license, to gyms, Cyclons marks and other intellectual
property; begin development of a MAX computer/video game product; and to start
developing a "Martial Arts X-treme" television reality show. The
plan of operation set forth above is intended to broaden the scope of Cyclons
exposure through the increased development, promotion and management of MAX
events, merchandise and multi-media offerings. The intended effect is to
increase Cyclons revenues across a broader spectrum of events, products and
licensing opportunities. The anticipated increase in revenues will in turn allow
Cyclon to further expand its offerings of products and events across a broader
geographic market. On
October 22, 2007, the Company entered into a Stock Purchase Agreement with
Europlay, Ltd., a Malta corporation ("Europlay") and Andreas Christensen
("Christensen"). On February 20, 2008, the Parties agreed to amend the
provisions under the Agreement.  Under the terms of the Agreement, as
amended and conditioned on the Company's due diligence, the Company will acquire
from Europlay and Christenson 100% of the issued and outstanding shares of the
capital stock of Europlay. In consideration for these shares, Cyclon has paid
400,000 to date, under the terms of the original agreement and 225,000 under
the amended Agreement.  The Company has agreed to make the following
payments in further consideration of the acquired shares: 1. 112,500
on or before August 1, 2008; 2. 112,500
on or before December 20, 2008; Upon
closing of the Agreement, the Company will issue 1 million shares of the
Companys common stock to shareholders of Europlay, pursuant to the terms thereof.  The technology,
acquired as a part of the Europlay transaction, will provide unique, modern and
innovative low-stake games to be played on mobile telephones and the Internet.
Cyclon will provide investment into Europlay, as well as add to the already
capable management with strong executive leadership focussing on quality and
innovation. Cyclon and Europlay believe a combination of these two strong
companies will ensure that this enormous market can be fully developed and will
remain at the forefront of this growing industry.  For more information
on Europlay, interested people can visit their website www.europlay.com. If
the Company is unable to meet our needs for cash, then we may be unable to
continue, develop, or expand our operations. While
the officers and directors have generally indicated a willingness to provide
services and financial contributions if necessary, there are presently no
agreements, arrangements, commitments, or specific understandings, either
verbally or in writing, between the officers and directors and Cyclon. If
we are unable topay for our expenses
because we do not have enough money, we may be forced to cease active operations
until we are able to secure additional financing. If we cannot or do not secure
additional financing we may be forced to cease active business operations. We
do not intend to hire any employees at this time. Limited
Operating History; Need for Additional Capital There
is no historical financial information about us upon which to base an evaluation
of our performance. We are a development stage corporation and have not
generated any revenues from operations. We cannot guarantee we will be
successful in our business operations. Our business is subject to risks inherent
in the establishment of a new business enterprise, including limited capital
resources, and possible cost overruns due to price and cost increases in
services, supplies, and equipment. We
have no assurance that future financing will be available to us on acceptable
terms. If financing is not available on satisfactory terms, we may be unable to
continue, develop or expand our operations. Equity financing could result in
additional dilution to existing shareholders. Liquidity
and Capital Resources We
cannot guarantee that we will have enough capital to implement our business
plan. If that is the case, we will attempt to secure additional financing by
obtaining loans from officers of the Company or other third parties or by
selling Company securities. Additional equity financing would result in
additional dilution to our existing shareholders. At
the present time, we have not made any arrangements to raise additional capital.
If we need additional capital and cannot obtain it, we may have to suspend
active operations until we do acquire the capital. Other than as outlined above,
we have no other plans of financing. As
of the date of this filing, we are still in the development stage, and therefore
have not generated any revenues. As
of January 31, 2008, our total assets were $2,225,651 and our total liabilities
were $444,281. Application
of Critical Accounting Policies Our
financial statements have been prepared on a going concern basis. We have
accumulated a deficit of $2,136,415 from inception to January 31, 2008. Our
ability to continue as a going concern is dependent upon our ability to generate
profitable operations in the future and/or to obtain the necessary financing to
meet our obligations and repay our liabilities arising from normal business
operations when they come due. The outcome of these matters cannot be predicted
with any certainty at this time. We have historically satisfied our working
capital needs primarily by sales of securities and at January 31, 2008, we had
working capital of $1,704,276 These financial statements do not include any
adjustments to the amount and classification of assets and liabilities that may
be necessary should we be unable to continue as a going concern.    PART II  OTHER INFORMATION Item 6. Exhibits Exhibits:  Exhibit
No.
Document
Location31
Rule
13a-41(a)/15d-14(a) Certificates
Included32
Section
1350 Certifications
Included  SIGNATURES In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.   CYCLON CAPITAL CORP.   March
19, 2008 /s/
Mark Horrelt Date Mark Horrelt, Principal Executive
Officer, Principal Financial
Officer   14