ZAP COM CORP Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue -   -   -   -  Cost of Revenue -   -   -   -  Gross Profit -   -   -   -  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative43  56  50  20  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(43)(56)(50)(20)Income from Continuing OperationsTotal Other Income/Expenses Net0  0   -  1  Earnings Before Interest And Taxes(42)(56)(50)(19)Interest Expense -   -   -   -  Income Before Tax(42)(56)(50)(19)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops(42)(56)(50)(19)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes ...
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ADDING and REPLACING Zapata Corporation Announces Third Quarter Results and Reincorporation Merger

ZAPATA CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In Thousands, Except Per Share Amounts)     For the For the Three Months Ended Nine Months Ended September 30, September 30, 2009   2008 2009   2008 Revenues $ -- $ -- $ -- $ -- Cost of revenues   --     --     --   ...
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ZAP COM CORP Files SEC form 8-K, Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (b) On October 7, 2009, Ms. Corrine Glass resigned from the Board of Directors (the "Board") of Zap.Com Corporation (the "Company"). (d) On October 7, 2009, the Board of the Company elected Mr. Keith Hladek to fill the vacancy created by Ms. Glass' resignation. Mr. Hladek has been elected as a Class II director and will hold office until the Company's Annual Meeting to be held in 2011. It is not expected that Mr. Hladek will be named to any committees of the Company. Keith M. Hladek, 34, is Chief Financial Officer of Harbinger Capital Partners. Mr. Hladek is responsible for all accounting and operations of the funds and management companies including, portfolio accounting, valuation, settlement, custody, and administration of investments. Prior to joining Harbinger Capital Partners in 2009, Mr. Hladek was Controller at Silver Point Capital where he was responsible for accounting, operations and valuation for the funds and related financing vehicles. Prior to 2004, Mr. Hladek was the Assistant Controller at GoldenTree Asset Management and a fund accountant at Oak Hill Capital Management. Mr. Hladek started his career in public accounting at Anchin, Block & Anchin, focusing on audit and tax of financial services clients. Mr. Hladek received his Bachelor of Science in Accounting from Binghamton University. He is a Certified Public Accountant in New York. There are no transactions to which the Company or any of its subsidiaries is a party in which Mr. Hladek has a material interest subject to disclosure under Item 404(a) of Regulation S-K. Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. (a) On October 7, 2009, the Board of the Company amended Article IV, Section 4.1 of the Company's Amended and Restated By-Laws (the "By-Laws") to remove the requi...
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ZAP COM CORP Files SEC form 8-K, Changes in Control or Registrant

Item 5.01 Change in Control of Registrant (a) On June 17, 2009, Malcolm I. Glazer, Linda Glazer, The Malcolm I. Glazer Family Limited Partnership (the "Glazer LP"), and Avram A. Glazer (collectively, the "June Sellers"), entered into a Share Purchase Agreement (the "Share Purchase Agreement") with Harbinger Capital Partners Master Fund I, Ltd. (the "Master Fund"), Global Opportunities Breakaway Ltd. (the "Global Fund") and Harbinger Capital Partners Special Situations Fund, L.P. (the "Special Situations Fund", and collectively with the Master Fund and Global Fund, the "Purchasers"), regarding the sale of shares of Zapata Corporation ("Zapata") common stock held by the June Sellers to the Purchasers pursuant to which: (i) the Glazer LP agreed to sell 9,813,112 shares; (ii) Linda Glazer agreed to sell 6,400 shares; (iii) Malcolm Glazer agreed to sell 28,052 shares, and (iv) Avram A. Glazer agreed to sell 41,120 shares, for a price per share of $7.50. In each case, the shares sold constitute all of the shares of Zapata's common stock beneficially owned by the June Sellers. The Share Purchase Agreement also covers the sale of 757,907 shares of common stock of Zap.Com Corporation ("Zap.Com," or the "Registrant"), a majority owned subsidiary of Zapata, to the Purchasers by the Glazer LP (707,907 shares) and Avram Glazer (50,000 shares) for the price of $2.00 in the aggregate. On July 8, 2009, the Purchasers also entered into a purchase agreement (collectively with the Share Purchase Agreement, the "Purchase Agreements") with Bryan Glazer, Edward Glazer and Joel Glazer (collectively with the June Sellers, the "Sellers") to purchase an aggregate of 49,278 shares of Zapata common stock The closing of the sale transactions under the Purchase Agreements took place on July 9, 2009 and the Purchasers acquired an aggregate of 9,937,962 shares of Zapata's common stock. In connecti...
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ZAP COM CORP Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation Overview Zapata Corporation formed Zap.Com for the purpose of creating and operating a global network of independently owned web sites. Currently, the Company has no business operations, other than complying with its reporting requirements under the Exchange Act. Zap.Com is searching for assets or businesses that it can acquire so that it can become an operating company and may also consider developing a new business suitable for its situation. The following discussion of the financial condition and results of operations of Zap.Com should be read in conjunction with the financial statements and notes thereto included elsewhere in this report. This discussion contains forward-looking statements which involve risks and uncertainties. The Company's actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those set forth under "Part 1 - Item 1A. Risk Factors." Results of Operations For the year ended December 31, 2008 as compared to the year ended December 31, 2007, operations consisted of the following: Revenues and Cost of revenues. Since ceasing internet operations, Zap.Com has not generated any revenue and has not incurred any cost of revenues. General and administrative expenses. General and administrative expenses consist primarily of legal and accounting services, insurance premiums, printing and filing costs, costs allocated by Zapata pursuant to a services agreement, and various other costs. General and administrative expenses for the year ended December 31, 2008 were $84,000 as compared to $160,000 for the year ended December 31, 2007. The decrease in general and administrative expenses is due primarily to a decrease in auditing fees, printing and filing costs, and stock-based compensation charges as option grants became fully ve...
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