UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2008

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission file number 000-52228

QUIKBYTE SOFTWARE, INC.

(Exact name of registrant as specified in its charter)

Colorado		33-0344842
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification Number)

4400 Biscayne Boulevard
Suite 950
Miami, Florida 33137

(Address of principal executive offices)

(305) 573-4112

(Registrant’s telephone number, including area code)

     Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

     Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated file or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer		o		Accelerated filer		o
Non-accelerated filer		o		Smaller reporting company		þ
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes þ No o

The number of shares of the issuer’s common stock, par value $0.0001 per share, outstanding as of November 11, 2008 was 11,073,946.

 

 

QUIKBYTE SOFTWARE, INC.
INDEX

				Page
PART I — FINANCIAL INFORMATION					1
Item 1.		Financial Statements (Unaudited)			1
		Condensed Balance Sheets(Unaudited)			2
		Condensed Statements of Operations (Unaudited)			3
		Statements of Changes in Stockholders’ Equity (Deficit) for the Cumulative Period From January 26, 1989 (Inception) to September 30, 2008 (Unaudited)			4
		Condensed Statements of Cash Flows (Unaudited)			6
		Notes to Financial Statements (Unaudited)			7
Item 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations			13
Item 3.		Quantitative and Qualitative Disclosures About Market Risk			15
Item 4T.		Controls and Procedures			16
PART II — OTHER INFORMATION					16
Item 1.		Legal Proceedings			16
Item 1A.		Risk Factors			16
Item 2.		Unregistered Sales of Equity Securities and Use of Proceeds			17
Item 3.		Defaults Upon Senior Securities			17
Item 4.		Submission of Matters to a Vote of Security Holders			17
Item 5.		Other Information			18
Item 6.		Exhibits			18
Signatures					19
EX-3.1
EX-31.1
EX-31.2
EX-32.1
EX-32.2

PART I — FINANCIAL INFORMATION

Item 1.		Financial Statements (Unaudited).

     This Quarterly Report on Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”), Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), about our expectations, beliefs or intentions regarding our business, financial condition, results of operations, strategies or prospects. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause our actual operations or results to differ materially from the operations and results anticipated in forward-looking statements. Details about the various risks affecting the Company may be found throughout this Quarterly Report on Form 10-Q, as well as in our Annual Report on Form 10-KSB for the year ended December 31, 2007. We do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe harbor provisions of PSLRA. These forward-looking statements are only predictions and reflect our views as of the date they are made with respect to future events and financial performance.

QuikByte Software, Inc.
(A Development Stage Company)

CONDENSED BALANCE SHEETS

		September 30, 2008				December 31, 2007
		(Unaudited)				(Audited)
ASSETS
Current Assets
Cash		$	416,657			$	21,879
Prepaids			20,840				—
Total Current Assets			437,497				21,879
Total Assets		$	437,497			$	21,879
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable and accrued expenses		$	189			$	3,285
Total Current Liabilities			189				3,285
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, $0.0001 par value; 100,000,000 shares authorized, none issued and outstanding			—				—
Common stock, $0.0001 par value; 500,000,000 shares authorized, 11,073,946 shares issued and outstanding at September 30, 2008, 7,930,246 shares issued and outstanding at December 31, 2007			1,107				793
Additional paid-in capital			2,053,769				1,491,583
Deficit accumulated during the development stage			(1,617,568	)			(1,473,782	)
Total Stockholders’ Equity			437,308				18,594
Total Liabilities and Stockholders’ Equity		$	437,497			$	21,879

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

QuikByte Software, Inc.
(A Development Stage Company)

CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)

																		For the Period from
																		January 26, 1989
		For the Three Months Ended								For the Nine Months Ended								(Inception) to
		September 30,								September 30,								September 30,
		2008				2007				2008				2007				2008
Revenue		$	—			$	—			$	—			$	—			$	269
Operating Expenses
Research and development			—				—				—				—				470,932
Depreciation and amortization			—				—				—				—				53,516
Professional fees			106,719				10,646				125,074				230,619				844,996
General and administrative			19,123				—				19,362				2,593				525,189
Total Operating Expenses			125,842				10,646				144,436				233,212				1,894,633
Loss from Operations			(125,842	)			(10,646	)			(144,436	)			(233,212	)			(1,894,364	)
Other Income (Expense)
Interest income			650				6				650				9				8,683
Interest expense			—				—				—				—				(9,918	)
Other income			—				—				—				—				308,031
Other expense			—				—				—				(30,000	)			(30,000	)
Total Other Income (Expense), net			650				6				650				(29,991	)			276,796
Net Loss		$	(125,192	)		$	(10,640	)		$	(143,786	)		$	(263,203	)		$	(1,617,568	)
Net Loss Per Share — Basic and Diluted		$	(0.01	)		$	(0.00	)		$	(0.02	)		$	(0.05	)		$	(1.25	)
Weighted average number of shares outstanding during the period — basic and diluted			10,834,751				7,930,246				8,905,481				4,941,683				1,296,610

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

QuikByte Software, Inc.
(A Development Stage Company)

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)
FOR THE CUMULATIVE PERIOD FROM JANUARY 26, 1989 (INCEPTION) TO SEPTEMBER 30, 2008
(UNAUDITED)

														Deficit
														Accumulated
										Additional				during the				Total
		Common Stock								Paid-In				Development				Stockholders’
		Shares				Amount				Capital				Stage				Equity (Deficit)
Balances at January 26, 1989			—			$	—			$	—			$	—			$	—
Issuance of common stock to founders			277,500				28				(28	)			—				—
Issuance of common stock for cash			327,500				33				255,987				—				256,020
Issuance of common stock for services			15,000				2				14,999								15,000
Issuance of common stock for warrants			—				—				100				—				100
Net (loss)			—				—				—				(74,393	)			(74,393	)
Balances at December 31, 1989			620,000			$	62			$	271,058			$	(74,393	)		$	196,727
Issuance of common stock for employment			22,000				2				98,998				—				99,000
Warrants exercised			17,750				2				70,204				—				70,206
Net (loss)			—				—				—				(424,063	)			(424,063	)
Balances at December 31, 1990			659,750			$	66			$	440,260			$	(498,456	)		$	(58,130	)
Warrants exercised			30,750				3				122,997				—				123,000
Issuance of common stock for employment			9,000				1				45,999				—				46,000
Issuance of common stock for cash			10,746				1				122,049				—				122,050
Net (loss)			—				—				—				(531,532	)			(531,532	)
Balances at December 31, 1991			710,246			$	71			$	731,305			$	(1,029,988	)		$	(298,612	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1992			710,246			$	71			$	731,305			$	(1,030,751	)		$	(299,375	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1993			710,246			$	71			$	731,305			$	(1,031,514	)		$	(300,138	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1994			710,246			$	71			$	731,305			$	(1,032,277	)		$	(300,901	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1995			710,246			$	71			$	731,305			$	(1,033,040	)		$	(301,664	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1996			710,246			$	71			$	731,305			$	(1,033,803	)		$	(302,427	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1997			710,246			$	71			$	731,305			$	(1,034,566	)		$	(303,190	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1998			710,246			$	71			$	731,305			$	(1,035,329	)		$	(303,953	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 1999			710,246			$	71			$	731,305			$	(1,036,092	)		$	(304,716	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 2000			710,246			$	71			$	731,305			$	(1,036,855	)		$	(305,479	)
Net (loss)			—				—				—				(20,763	)			(20,763	)
Balances at December 31, 2001			710,246			$	71			$	731,305			$	(1,057,618	)		$	(326,242	)
Net (loss)			—				—				—				(12,763	)			(12,763	)
Balances at December 31, 2002			710,246			$	71			$	731,305			$	(1,070,381	)		$	(339,005	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 2003			710,246			$	71			$	731,305			$	(1,071,144	)		$	(339,768	)
Net (loss)			—				—				—				(763	)			(763	)
Balances at December 31, 2004			710,246			$	71			$	731,305			$	(1,071,907	)		$	(340,531	)
Net (loss)			—				—				—				308,031				308,031
Balances at December 31, 2005			710,246			$	71			$	731,305			$	(763,876	)		$	(32,500	)
Net (loss)			—				—				—				(439,285	)			(439,285	)
Balances at December 31, 2006			710,246			$	71			$	731,305			$	(1,203,161	)		$	(471,785	)
Issuance of common stock for cash on January 31, 2007 ($0.02/share)			750,000				75				14,925				—				15,000
Return and cancellation of common stock on March 21, 2007			(990,000	)			(99	)			99								—

QuikByte Software, Inc.
(A Development Stage Company)

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)
FOR THE CUMULATIVE PERIOD FROM JANUARY 26, 1989 (INCEPTION) TO SEPTEMBER 30, 2008 — Continued
(UNAUDITED)

														Deficit
														Accumulated
										Additional				during the				Total
		Common Stock								Paid-In				Development				Stockholders’
		Shares				Amount				Capital				Stage				Equity (Deficit)
Issuance of common stock for cash on March 21, 2007 ($0.10/share)			6,000,000				600				599,400				—				600,000
Issuance of common stock for cash on March 26, 2007 ($0.10/share)			750,000				75				74,925				—				75,000
Issuance of common stock for services on March 26, 2007 ($0.10/share)			710,000				71				70,929				—				71,000
Net (loss)			—				—				—				(270,621	)			(270,621	)
Balances at December 31, 2007			7,930,246			$	793			$	1,491,583			$	(1,473,782	)		$	18,594
Issuance of common stock for cash on July 7, 2008 ($0.1789/share)			3,143,700				314				562,186				—				562,500
Net (loss)			—				—				—				(143,786	)			(143,786	)
Balances at September 30, 2008			11,073,946			$	1,107			$	2,053,769			$	(1,617,568	)		$	437,308

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

QuikByte Software, Inc.
(A Development Stage Company)

CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)

										For the Period from
		For the Nine Months Ended								January 26, 1989
		September 30,								(Inception) to
		2008				2007				September 30, 2008
Cash Flows From Operating Activities:
Net Loss		$	(143,786	)		$	(263,203	)		$	(1,617,568	)
Adjustments to reconcile net loss to net cash used in operations
Common stock issued for services							71,000				231,100
Depreciation and amortization			—				—				53,516
Write-down of computer software			—				—				173,358
Changes in operating assets and liabilities:
(Increase) Decrease in:
Prepaids			(20,840	)			—				(20,840	)
Increase (Decrease) in:
Accounts payable and accrued expenses			(3,096	)			(467,785	)			189
Net Cash Used In Operating Activities			(167,722	)			(659,988	)			(1,180,245	)
Cash Flows From Investing Activities:
Purchase of property and equipment			—				—				(52,516	)
Increase in computer software			—				—				(173,359	)
Organizational costs			—				—				(1,000	)
Net Cash Used In Investing Activities			—				—				(226,875	)
Cash Flows From Financing Activities:
Proceeds from notes payable			—				—				9,537
Write-off of notes payable			—				—				(9,537	)
Proceeds from issuance of common stock -related parties			562,500				—				562,500
Proceeds from issuance of common stock			—				690,000				1,261,277
Net Cash Provided by Financing Activities			562,500				690,000				1,823,777
Net Increase in Cash			394,778				30,012				416,657
Cash at Beginning of period		$	21,879			$	—				—
Cash at End of period		$	416,657			$	30,012			$	416,657
Supplemental disclosure of cash flow information:
Cash paid for interest		$	—			$	—			$	—
Cash paid for taxes		$	—			$	—			$	—
Supplemental disclosure of non-cash investing and financing activities:
Return and cancellation of common stock		$	—			$	990			$	990
Forgiveness of debt		$	—			$	—			$	308,831

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

QuikByte Software, Inc.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

1.		Basis of Presentation
		The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position and results of operations.
		It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made that are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year.
		For further information, refer to the audited financial statements and footnotes of the Company for the year ended December 31, 2007, included in the Company’s Form 10-KSB.
2.		Nature of Operations and Summary of Significant Accounting Policies
		(A) Nature of Operations and Liquidity
		QuikByte Software, Inc. (the “Company”) is a development stage enterprise that was incorporated under the laws of the State of Colorado on January 26, 1989 for the purpose of developing and marketing computer software. The Company was primarily engaged in developing Internet commerce solutions and products for businesses and consumers, and raising equity funding. The Company ceased operations in 1992 and has since remained inactive.
		During the first quarter of fiscal year 2007, a change in control of the Company occurred that resulted in the resignation of the previously existing officers and directors of the Company (see Note 3).
		During the third quarter of fiscal year 2008, a second change in control of the Company occurred that also resulted in the resignation of the then-existing officers and directors of the Company (see Note 3).
		Following the change in control during the first quarter of fiscal year 2007, the Company intended to serve as a vehicle to effect an asset acquisition, merger or business combination with a domestic or foreign business.
		The accompanying financial statements have been prepared on the basis which assumes that the Company will continue to operate as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, the Company has a net loss of $143,786 and net cash used in operations of $167,722, respectively, for the nine months ended September 30, 2008. The Company also has a deficit accumulated during the development stage of $1,617,568. The Company has positive working capital of $437,308 and has the ability to meet all obligations due over the course of the next twelve months. The Company is currently in the development stage and has not generated any significant operating revenues since inception.
		(B) Use of Estimates
		In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the periods presented. Actual results may differ from these estimates.

In December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements, an amendment of Accounting Research Bulletin No 51” (“SFAS 160”). SFAS 160 establishes accounting and reporting standards for ownership interests in subsidiaries held by parties other than the parent, changes in a parent’s ownership of a noncontrolling interest, calculation and disclosure of

QuikByte Software, Inc.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

		the consolidated net income attributable to the parent and the noncontrolling interest, changes in a parent’s ownership interest while the parent retains its controlling financial interest and fair value measurement of any retained noncontrolling equity investment. SFAS 160 is effective for financial statements issued for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years. Early adoption is prohibited. The adoption of SFAS 160 is not expected to have a material effect on its financial position, results of operations or cash flows.
		In December 2007, the FASB issued SFAS 141R, “Business Combinations” (“SFAS 141R”), which replaces FASB SFAS 141, “Business Combinations”. This Statement retains the fundamental requirements in SFAS 141 that the acquisition method of accounting be used for all business combinations and for an acquirer to be identified for each business combination. SFAS 141R defines the acquirer as the entity that obtains control of one or more businesses in the business combination and establishes the acquisition date as the date that the acquirer achieves control. SFAS 141R will require an entity to record separately from the business combination the direct costs, where previously these costs were included in the total allocated cost of the acquisition. SFAS 141R will require an entity to recognize the assets acquired, liabilities assumed and any non-controlling interest in the acquired at the acquisition date, at their fair values as of that date. This compares to the cost allocation method previously required by SFAS No. 141. SFAS 141R will require an entity to recognize as an asset or liability at fair value for certain contingencies, either contractual or non-contractual, if certain criteria are met. Finally, SFAS 141R will require an entity to recognize contingent consideration at the date of acquisition, based on the fair value at that date. This Statement will be effective for business combinations completed on or after the first annual reporting period beginning on or after December 15, 2008. Early adoption of this standard is not permitted and the standards are to be applied prospectively only. Upon adoption of this standard, there would be no impact to the Company’s results of operations and financial condition for acquisitions previously completed. The adoption of SFAS 141R is not expected to have a material effect on its financial position, results of operations or cash flows.
		In March 2008, the FASB issued SFAS No. 161 “Disclosures about Derivative Instruments and Hedging Activities—An Amendment of FASB Statement No. 133.” (“SFAS 161”). SFAS 161 establishes the disclosure requirements for derivative instruments and for hedging activities with the intent to provide financial statement users with an enhanced understanding of the entity’s use of derivative instruments, the accounting of derivative instruments and related hedged items under Statement 133 and its related interpretations, and the effects of these instruments on the entity’s financial position, financial performance and cash flows. This statement is effective for financial statements issued for fiscal years beginning after November 15, 2008. The Company does not expect its adoption will have a material impact on our financial position, results of operations or cash flows.
		In April 2008, the FASB issued FASB Staff Position (“FSP”) SFAS No. 142-3, “Determination of the Useful Life of Intangible Assets”. This FSP amends the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible asset under FASB Statement No. 142, “Goodwill and Other Intangible Assets” (“SFAS 142”). The intent of this FSP is to improve the consistency between the useful life of a recognized intangible asset under SFAS 142 and the period of expected cash flows used to measure the fair value of the asset under SFAS 141R, and other GAAP. This FSP is effective for financial statements issued for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years. Early adoption is prohibited. The Company is currently evaluating the impact of SFAS FSP 142-3, but does not expect the adoption of this pronouncement will have a material impact on its financial position, results of operations or cash flows.
		In May 2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted Accounting Principles” (“SFAS 162”). SFAS 162 identifies the sources of accounting principles and the framework for selecting principles to be used in the preparation of financial statements of nongovernmental entities that are presented in conformity with generally accepted accounting principles in the United States. This statement is effective 60 days following the SEC’s approval of the Public Company Accounting Oversight

QuikByte Software, Inc.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

		Board’s amendments to AU section 411, The Meaning of Present Fairly in Conformity with Generally Accepted Accounting Principles. The Company is currently evaluating the impact of SFAS 162, but does not expect the adoption of this pronouncement will have a material impact on its financial position, results of operations or cash flows.
		In May 2008, the Financial Accounting Standards Board issued SFAS No. 163, “Accounting for Financial Guarantee Insurance Contracts — An interpretation of FASB Statement No. 60” (“SFAS 163”). SFAS 163 requires that an insurance enterprise recognize a claim liability prior to an event of default when there is evidence that credit deterioration has occurred in an insured financial obligation. It also clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement to be used to account for premium revenue and claim liabilities, and requires expanded disclosures about financial guarantee insurance contracts. It is effective for financial statements issued for fiscal years beginning after December 15, 2008, except for some disclosures about the insurance enterprise’s risk-management activities. SFAS 163 requires that disclosures about the risk-management activities of the insurance enterprise be effective for the first period beginning after issuance. Except for those disclosures, earlier application is not permitted. The adoption of this statement is not expected to have a material effect on the Company’s financial statements.
		Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies do not require adoption until a future date and are not expected to have a material impact on the financial statements upon adoption.
		(G) Reclassifications
		Certain amounts in the year 2007 financial statements have been reclassified to conform to the year 2008 presentation. These reclassifications had no effect on the financial position, results of operations or cash flows.
3.		Stock Purchase Agreements and Changes of Control
		In the following discussion, all share amounts reflect a 1 for 10 reverse stock split effected as of October 6, 2008.
		On March 23, 2007, KI Equity Partners V, LLC, a Delaware limited liability company (“KI Equity”), acquired control of the Company under the terms of that certain Securities Purchase Agreement, dated March 2, 2007 (the “2007 Agreement”), between the Company and KI Equity (the “2007 Transaction”). Pursuant to the terms of the 2007 Agreement, the Company agreed to sell to KI Equity, and KI Equity agreed to purchase from the Company, 6,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), for a purchase price of $600,000 or $0.10 per share. Prior to the closing of the 2007 Transaction, the Company was controlled by Ponce Acquisition, LLC, a Colorado limited liability company (“Ponce Acquisition”). To the Company’s knowledge, the source of funds for the 2007 Transaction was from the working capital of KI Equity. The proceeds from this sale were used to settle a variety of the Company’s pre-existing liabilities.
		Effective as of the closing of the 2007 Transaction, in accordance with the terms of the 2007 Agreement, the then-existing officers and directors of the Company resigned, and Mr. Kevin R. Keating (“Keating”) was appointed the Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer of the Company and a member of the board of directors of the Company (the “Board”), and Jeff L. Andrews and Margie L. Blackwell were appointed as members of the Board.
		On June 2, 2008, KI Equity, at the time the largest holder of the Company’s Common Stock, and Keating, who at the time was the Company’s Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer and a Director, entered into a Stock Purchase Agreement, as amended (the “KI/Keating Purchase Agreement”), with Mr. Glenn L. Halpryn, as agent for certain investors in the Company (the “Investors”),

QuikByte Software, Inc.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

		pursuant to which KI Equity and Keating agreed to sell to the Investors, and the Investors agreed to purchase from KI Equity and Keating, an aggregate of 6,910,000 shares of Common Stock (the “KI/Keating Shares”), for an aggregate purchase price of $926,273.46, or approximately $0.134 per share.
		Also on June 2, 2008, the Investors entered into a Stock Purchase Agreement, as amended (the “Garisch Purchase Agreement”), with Garisch Financial, Inc., an Illinois corporation (“Garisch”), pursuant to which Garisch agreed to sell to the Investors, and the Investors agreed to purchase from Garisch, 550,000 shares of Common Stock (the “Garisch Shares”), for an aggregate purchase price of $73,727, or approximately $0.134 per share.
		The closings of the transactions (the “Change of Control Transaction”) contemplated by the KI/Keating Purchase Agreement and the Garisch Purchase Agreement (the “Closings”) occurred simultaneously on July 7, 2008. At the time of the Closings, the KI/Keating Shares represented approximately 87% of the issued and outstanding shares of the Common Stock of the Company, and the Garisch Shares represented approximately 6.9% of the issued and outstanding shares of the Common Stock of the Company. To the Company’s knowledge, the source of the purchase price for the KI/Keating Shares and the Garisch Shares was from the personal funds and the working capital of the Investors.
		In connection with the Change of Control Transaction, the Company terminated that certain Management Agreement, dated as of March 26, 2007, as amended (the “Management Agreement”), by and between the Company and Vero Management, L.L.C., a Delaware limited liability company (“Vero”). The Company did not incur any termination penalties in connection with the termination of the Management Agreement. Under the terms of the Management Agreement, Vero provided the Company with managerial and administrative services in exchange for a monthly fee of $1,000.
		Vero is owned and controlled by Keating, who, prior to the Change of Control Transaction, served as a director and the Chief Executive Officer, Chief Financial Officer, President, Treasurer and Secretary of the Company. Keating is the father of Mr. Timothy J. Keating, the managing member of Keating Investments, LLC. Keating Investments, LLC is the managing member of KI Equity, which, prior to the Change of Control Transaction, was the controlling shareholder of the Company.
		Also on July 7, 2008, the Company terminated (i) those certain Registration Rights Agreements, dated March 23, 2007 and March 26, 2007, by and between the Company and KI Equity (the “KI Equity Rights Agreements”), (ii) that certain Registration Rights Agreement, dated March 26, 2007, by and between the Company and Keating (the “Keating Rights Agreement”), (iii) that certain Registration Rights Agreement, dated March 26, 2007, by and between Garisch and the Company (the “Garisch Rights Agreement”, collectively, with the KI Equity Rights Agreements and the Keating Rights Agreement, the “Rights Agreements”), and (iv) that certain Consulting Agreement, dated March 26, 2007, by and among the Company, KI Equity and Garisch, pursuant to which Garisch provided certain financial consulting services to the Company. The Rights Agreements granted certain demand and piggyback registration rights to KI Equity, Keating and Garisch. The Rights Agreements and the Consulting Agreement were terminated as a condition to the closing of the Change in Control. The Company did not incur any termination penalties in connection with the termination of the Rights Agreements or the Consulting Agreement.
		Pursuant to the terms of the KI/Keating Purchase Agreement and effective upon the Closings, Keating resigned from his positions as the Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer of the Company, and Keating, Jeff Andrews and Margie Blackwell (the “Existing Directors”) resigned from their positions as the directors of the Company. Also pursuant to the terms of the KI/Keating Purchase Agreement, the Existing Directors (i) amended the Bylaws of the Company in order to increase the size of the Board from three directors to five directors, (ii) appointed Mr. Glenn L. Halpryn, Mr. Alan Jay Weisberg, Mr. Noah M. Silver, Dr. Curtis Lockshin and Mr. Ronald Stein as the directors of the Company, effective upon the Closings, and (iii) appointed Mr. Glenn L. Halpryn to serve as the President and Chief Executive Officer of the Company, effective upon the Closings. Subsequent to the Closings, the New Directors appointed Mr. Noah M. Silver as the Vice President, Secretary and Treasurer of the Company and Mr. Alan Jay Weisberg as the Chief Financial and Accounting Officer of the Company.

QuikByte Software, Inc.
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

		On July 7, 2008, after the closing of the Change of Control Transaction, the Company issued 3,143,700 shares of its Common Stock for an aggregate offering price of $562,500 or approximately $0.1789 per share. There were no underwriting discounts or commissions associated with the transaction and the shares of Common Stock were issued pursuant to the private placement exemption provided by Section 4(2) of the Securities Act and Rule 506 promulgated thereunder. As of July 7, 2008, after giving effect to the issuance of the 3,143,700 shares of Common Stock as discussed above, a total of 11,073,946 shares of Common Stock were issued and outstanding.
4.		Stockholders’ Equity (Deficit)
		During the period January 26, 1989 (Inception) to December 31, 2006, the Company issued 710,246 shares of Common Stock. Of the total, 277,500 were issued to founders at par value for services rendered. The Company issued an aggregate 338,246 shares of Common Stock for $378,070 during 1989 and 1991. The Company also issued an aggregate 46,000 shares of Common Stock to employees and third parties for services rendered having a fair value of $160,000 during 1989, 1990 and 1991. Finally, the Company issued an aggregate 48,500 shares of Common Stock in connection with stock warrant exercises having a fair value of $193,206.
		On January 31, 2007, the Company issued 750,000 shares of its Common Stock to Ponce Acquisition for $15,000.
		On March 2, 2007, the Company amended its Articles of Incorporation to reduce its authorized capital stock. The amendment reduced the authorized Common Stock from 500,000,000 shares, with a par value of $0.0001 per share, to 250,000,000 shares, with a par value of $0.0001 per share. The amendment also reduced the authorized preferred stock from 100,000,000 shares, with a par value of $0.0001 per share, to 2,000,000 shares, with a par value of $0.0001 per share.
		The amendment also provided for a 1-for-20 reverse stock split of the Company’s common stock outstanding on March 16, 2007. All share and per share amounts were retroactively restated at that time.
		On March 21, 2007, a total of 990,000 shares of common stock were cancelled and retired.
		On March 23, 2007 and March 26, 2007, the Company issued an aggregate 7,460,000 shares of common stock for $746,000.
		On July 7, 2008, the Company issued an aggregate of 3,143,700 shares of Common Stock for $562,500.
		On October 6, 2008, the Company amended its Articles of Incorporation to increase its authorized capital stock. The amendment increased the authorized Common Stock from 250,000,000 shares, with a par value of $0.0001 per share, to 500,000,000 shares, with a par value of $0.0001 per share. The amendment also increased the authorized preferred stock from 2,000,000 shares, with a par value of $0.0001 per share, to 100,000,000 shares, with a par value of $0.0001 per share.
		The amendment also provided for a 1-for-10 reverse stock split of the Company’s common stock outstanding on October 6, 2008. All share and per share amounts were retroactively restated at that time.

Item 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations.

     QuikByte Software, Inc., (the “Company”) currently acts as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company’s principal business objective for the next 12 months and beyond will be to achieve potential long-term growth through a combination with a business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

Company Background

     Currently, the Company is a shell company as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). It plans to seek a target company with which to merge or to complete a business combination. In any transaction, the Company will be the surviving entity, and its shareholders will retain a percentage ownership interest in the post-transaction company. The amount of the retained equity ownership of its shareholders will be negotiated by the Company’s management and the target company. The Company currently does not have any relevant operating business, revenues form operations or assets.

     The search for a target business will not be restricted to any specific business, industry or geographic location and the Company may participate in a business venture of virtually any kind or nature. The business plan is intended to be broad so that the Company is not limited in evaluating and pursuing any business objective that would bring value to its shareholders. The Company anticipates that it will be able to complete only one potential business combination because of its nominal assets and limited financial resources. The Company also believes that it will require additional capital from time to time to be able to support its reporting obligations and maintenance of its corporate status and to fund any business combination expenses. The Company currently does not have any identified sources of working capital funds. There is no assurance that the Company will be able to find a business opportunity or that it will be able to complete a business combination.

Plan of Operations

     The Company’s Plan of Operations is based on identifying and attracting a suitable company that has both a business history and operating assets, with which to effect a business combination. The Company will not restrict its search to any specific business, industry, or geographical location, and may participate in a business venture of virtually any kind or nature.

     The Company may seek a business combination with entities which have recently commenced operations, or wish to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. The Company may acquire assets and establish wholly-owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.

     The Company anticipates that the selection of a business opportunity will be complex and extremely risky. The Company’s management believes that there are many entities seeking the benefits of merging with or being acquired by an issuer which has complied with the reporting requirements of the Exchange Act. Such benefits may include facilitating or improving the terms on which additional equity financing may be sought, providing incentive stock options or similar benefits to key employees, and providing liquidity (subject to restrictions of applicable statutes and regulations) for shareholders. Potentially, available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult. The Company has, and will continue to have, limited capital with which to provide the owners of business opportunities with any significant cash or other assets upon consummation of a transaction. However, management believes the Company will be able to offer owners of acquisition candidates the opportunity to acquire a controlling ownership interest in an issuer who has complied with the reporting requirements of the Exchange Act without incurring the cost and time required to conduct an initial public offering.

     The analysis of new business opportunities will be undertaken by, or under the supervision of, the officers and directors of the Company. Management intends to concentrate on preliminarily identifying business opportunities through current associations of the Company’s officers and directors or by the Company’s shareholders. The Company may engage financial advisors and investment banking firms to assist it in identifying and analyzing potential business opportunities. Due to the limited financial resources of the Company, it is likely that these advisors and firms will be compensated on a success basis, in the form of cash and the Company’s stock. Officers and directors of the Company expect to interview and/or meet personally with management and key personnel of the business opportunity as part of their investigation. To the extent possible, the Company intends to utilize written reports and personal investigation to evaluate the above factors, including such reports and investigations prepared by its financial advisors.

     In analyzing potential business opportunities, the Company’s management will consider such matters as the available technical, financial and managerial resources; working capital and other financial requirements; history of operations, if any; prospects for the future; nature of present and expected competition; the quality and experience of management services which may be available and the depth of that management; the potential for further research, development or exploration; specific risk factors not now foreseeable but which then may be anticipated to impact the proposed activities of the Company; the potential for growth or expansion; the potential for profit; the public recognition of acceptance of products, services or trades; name identification; and other relevant factors.

     In implementing a structure for a particular business acquisition, the Company may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another corporation or entity. The Company may alternatively purchase the capital stock or the operating assets of an existing business.

     During the next twelve months the Company anticipates incurring costs related to:

	(i)		filing of Exchange Act reports, and
	(ii)		costs relating to consummating an acquisition.

     The Company currently does not engage in any business activities that provide cash flow. The Company believes it will be able to meet these costs for at least the next 12 months through use of funds in its treasury, through deferral of fees by certain service providers and additional amounts, as necessary, to be loaned to or invested in the Company by its shareholders, management or other investors.

     Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. Alternatively, a target business may require substantial capital for the further development of its operations. In that event, the Company will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, the Company may effect a business combination with an entity in an industry characterized by a high level of risk, and, although the Company’s management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that the Company will properly ascertain or assess all significant risks.

Results of Operations

     For the three months ended September 30, 2008 and 2007 the Company had no activities that produced revenues from operations.

     For the three months ended September 30, 2008, the Company had a net loss of $(125,192) as compared to a net loss of $(10,640) for the corresponding period in 2007. For the three months ended September 30, 2008, the Company incurred $125,842 of operating expenses, primarily comprised of legal, accounting, audit and other professional service fees incurred in relation to the filing of the Company’s Report on Form 10-Q for the period ended June 30, 2008 filed in August 2008 and the July 7, 2008 change of control.

     For the three months ended September 30, 2007, the Company had a net loss of $(10,640). During the three months ended September 30, 2007, the Company incurred $10,646 of operating expenses, primarily comprised of professional fees paid to attorneys, accountants and other consultants related to the reorganization and change of management which took place during the prior quarter and the filing of the Company’s Report on Form 10-QSB for the period ended June 30, 2007 filed in August 2007.

     For the nine months ended September 30, 2008, the Company had no activities that produced revenues from operations.

     For the nine months ended September 30, 2008, the Company had a net loss of $(143,786), as compared to a net loss of $(263,203) for the corresponding period in 2007. For the nine months ended September 30, 2008, the Company incurred $144,436 of operating expenses, primarily comprised of legal, accounting, audit and other professional service fees incurred in relation to the filing of the Company’s Report on Form 10-Q for the period ended June 30, 2008 filed in August 2008 and the July 7, 2008 change of control.

     For the nine months ended September 30, 2007, the Company had a net loss of $(263,203). During the nine months ended September 30, 2007, the Company incurred $233,212 of operating expenses, primarily comprised of professional fees paid to attorneys, accountants and other consultants related to the reorganization and change of management which took place during the quarter. During the nine months ended September 30, 2007, the Company incurred $30,000 of other non-operating expenses, comprised of payments made to the Company’s former executive officers and directors under the terms of a settlement agreement.

Liquidity and Capital Resources

     As of September 30, 2008, the Company had assets equal to $437,497. The Company’s current liabilities as of September 30, 2008 were $189.

     The Company has generated minimal revenues since inception. At September 30, 2008 the Company had cash of $416,657. The Company believes it has sufficient funds to cover its expenses and to execute its business plan of seeking a combination with a private operating company.

     On July 7, 2008, after the closing of the Change of Control Transaction as discussed in Note 3, the Company issued 3,143,700 shares of Common Stock for an aggregate offering price of $562,500, or approximately $0.1789 per share. These proceeds were to be used by the Company as working capital.

Off-Balance Sheet Arrangements

     The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contractual Obligations

     As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

Item 3.		Quantitative and Qualitative Disclosures About Market Risk.

     As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 4T.		Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

     The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in its reports filed pursuant to the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules, regulations and related forms, and that such information is accumulated and communicated to its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

     As of September 30, 2008, the Company carried out an evaluation, under the supervision and with the participation of its principal executive officer and principal financial officer, of the effectiveness of the design and operation of its disclosure controls and procedures. Based on this evaluation, the Company’s principal executive officer and principal financial officer concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Controls

     There were no changes in the Company’s internal controls over financial reporting that occurred during the period covered by this report that have materially affected or are reasonably likely to materially affect its internal controls over financial reporting. Effective July 7, 2008, Glenn L. Halpryn was appointed as the Company’s President and Chief Executive Officer and Alan Jay Weisberg was appointed as the Company’s Chief Financial and Accounting Officer. The Company has engaged its former per diem accountant to assist the new CFO and CEO in processing the information and allowing the final review of this information to be performed by the CFO and CEO.

PART II — OTHER INFORMATION

Item 1.		Legal Proceedings.

     To the best knowledge of the officers and directors, the Company is not a party to any legal proceeding or litigation.

Item 1A.		Risk Factors.

     The risk factor set forth below updates the risk factors previously disclosed in Part 1, Item 1A of the Company’s Annual Report on Form 10-KSB for the year ended December 31, 2007.

     The current recessionary economic environment and concurrent market instability may materially and adversely affect our ability to fund our operations or effectuate a reverse merger or similar transaction with a private operating company.

     We have funded our operations to date primarily through sales of our stock in private placements and in all likelihood we will need additional funds to continue our operations and take advantage of any available opportunity to acquire an operating company. Our ability to sell additional shares of our stock and/or borrow funds under new credit facilities could be materially adversely affected by the recent economic turmoil in the world equity and credit markets. There can therefore be no assurance that we will be able to raise the funds on acceptable terms or at all, which may materially adversely affect our ability to continue our operations and take advantage of any available opportunity to acquire an operating company.

     Additionally, the current economic turmoil could reduce the perceived advantages of being a publicly held corporation and therefore reduce demand from private operating companies to effectuate a reverse merger or similar transaction with us, which may materially adversely affect our ability to acquire a suitable and favorable business opportunity.

Item 2.		Unregistered Sales of Equity Securities and Use of Proceeds.

     The information required by this Item 2 has been previously reported on the Company’s Current Report on Form 8-K, filed with the SEC on July 7, 2008.

Item 3.		Defaults Upon Senior Securities.

     None.

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

     The Company held a Special Meeting of Shareholders on September 18, 2008. The holders of 110,739,460 shares of Common Stock were entitled to vote at the meeting. The following five proposals were voted upon and approved at the meeting.

     Proposal 1: An amendment to the Articles of Incorporation of the Company, as amended (the “Articles”), to increase the number of authorized shares of all classes of capital stock from 252,000,000 shares to 600,000,000 shares, composed of 500,000,000 shares of Common Stock and 100,000,000 shares of preferred stock, par value $0.0001 per share.

				For					Against					Abstain
	Shares voted				74,345,025					35,425					1,693,472

     Proposal 2: An amendment to the Articles to permit the shareholders of the Company to take action by written consent in lieu of a meeting of shareholders, so long as the consenting shareholders hold shares of the capital stock of the Company having not less than the minimum number of votes that would be necessary to authorize or take action at a meeting of shareholders at which all of the shares entitled to vote thereon were present and voted.

				For					Against					Abstain
	Shares voted				74,359,450					11,000					1,703,472

     Proposal 3: An amendment to the Articles to consummate a one for ten reverse split of the Common Stock.

				For					Against					Abstain
	Shares voted				74,351,740					9,060					1,713,122

     Proposal 4: An amendment to the Articles to remove a provision from therein which conditions the Company’s ability to issue shares of capital stock and the ability of its shareholders to transfer their shares of capital stock on the size of the Company’s board of directors.

				For					Against					Abstain
	Shares voted				74,343,100					27,350					1,703,472

     Proposal 5: A proposal to amend and restate that Articles so that they comply with the Colorado Business Corporation Act, which was adopted subsequent to the incorporation of the Company.

				For					Against					Abstain
	Shares voted				74,369,450					13,000					1,693,472

Item 5.		Other Information.

     None.

Item 6.		Exhibits.

3.1		Amended and Restated Articles of Incorporation of the Company
31.1		Certification of CEO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Certification of CFO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification by CEO pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification by CFO pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.