Spire 10K 2008 Annual report

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

FORM 10-K

[X]	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
	EXCHANGE ACT OF 1934
	For the fiscal year ended December 31, 2008

Commission file number 000-50664

DRAVCO MINING INC.
(Exact name of registrant as specified in its charter)

Nevada
(State or other jurisdiction of incorporation or organization)

1909 Dufferin Avenue
Saskatoon, Saskatchewan
Canada S7J 1B6
(Address of principal executive offices, including zip code.)

1-888-437-5268
(Registrant's telephone number, including area code)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.[ ] Yes No [ X ]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act:[ ] Yes No [ X ]

Indicate by check mark whether the registrant(1) has filed all reports required 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 day.[ X ] Yes [ ] No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulations S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy if information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ]

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

Large Accelerated filer	[	]	Accelerated filer [ ]
Non-accelerated filer	[	]	Smaller reporting company [ X ]
(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 Act).[ X ] Yes [ ] No

The aggregate market value of the voting common stock held by non-affiliates (8,000,000 shares of voting common stock) as of June 30, 2008, computed at the par value of the stock of $0.00001 was $ 80 assuming solely for the purposes of this calculation that the directors and executive officers of the issuer are “affiliates”.This determination of affiliate status is not necessarily a conclusive determination for other purposes.

On February 18, 2009, the Registrant had 18,000,000 outstanding common shares of voting common stock.

DOCUMENTS INCROPORTED BY REFERENCE

Exhibits incorporated by reference are referred to under Part IV.

PART I

ITEM 1. BUSINESS

We were incorporated in the State of Nevada on September 20, 2000 as Dundee Mining Inc. On October 2, 2002, we changed our name to Dravco Mining Inc. We changed our name because we were advised by a Canadian corporation with a similar name that we might be infringing on the other corporation's trademark in Canada. While we believed we were not infringing on the other corporation's trademark, we also believed that it would not be economically worthwhile to engage in protracted litigation in Canada regarding the infringement issue.

We maintain our statutory registered agent's office at 101 Convention Center Drive, Suite 700, Las Vegas, Nevada, 89109 and our business office is 1909 Dufferin Avenue, Saskatoon, Saskatchewan, Canada S7J 1B6. Our telephone number is 1-888-437-5268.

Our original plan of operation was to prospect for gold. In July 2000, Rodney L. Lozinski, our sole officer and director, entered into an oral agreement with Locke Goldsmith, an unrelated third party, to stake one property containing ten unpatented mining claims in the Nickel Plate Mountain area of Hedley, Osoyoos Mining Division, British Columbia, Canada.

The claims were conveyed by Mr. Goldsmith to Mr. Lozinski and are recorded in Mr. Lozinski's name to avoid paying additional fees. The property was held in trust pursuant to a written declaration executed by Mr. Lozinski. Under British Columbia law, title to mining claims must be held by a British Columbia corporation or held by an individual who is a Canadian citizen.

During the year ended December 31, 2008 we continued to hold the property, but at the time of renewal decided that it was in our best interest to forfeit the remaining five mineral claims due to the costs associated with maintaining title to the claims. Due to our failure to commence our exploration work on a timely basis our original geologist was available to do work for us. Our continued search for a new geologist was not successful and as a result, we have been exploring alternative business opportunities.

On July 28, 2008, Dravco Mining Inc. terminated negotiations with Zoomnation Inc. and no further negotiations between the parties are ongoing and none are expected to take place.

Our plan of operation for the next twelve months will be to : (i) consider guidelines of industries in which the Company may have an interest; (ii) adopt a business plan regarding engaging in business in any selected industry; and (iii) to commence such operations through funding and/or the acquisition of a “going concern” engaged in any industry selected.

Merger or Acquisition of a Candidate

The acquisition of a business opportunity may be made by purchase, merger, exchange of stock, or otherwise, and may encompass assets or a business entity, such as a corporation, joint venture, or partnership. We have very limited capital, and it is unlikely that we will be able to take advantage of more than one such business opportunity.

We intend to seek opportunities demonstrating the potential of long-term growth as opposed to short-term earnings. At the present time we have not identified any business opportunity that we plan to pursue, nor have we reached any agreement or definitive understanding with any person concerning an acquisition.

We anticipate that we will contact broker/dealers and other persons with whom our sole officer and director is acquainted and who are involved in corporate finance matters to advise them of our existence and to determine if any companies or businesses they represent have an interest in considering a merger or acquisition with us. No assurance can be given that we will be successful in finding or acquiring a desirable business opportunity, given the limited funds that are expected to be available for acquisitions, or that any acquisition that occurs will be on terms that are favorable to us or our stockholders.

Our search will be directed toward small and medium-sized enterprises which have a desire to become public corporations and which are able to satisfy, or anticipate in the reasonably near future being able to satisfy, the minimum requirements in order to qualify shares for trading on the Bulletin Board on a stock exchange we anticipate that the business opportunities presented to us will:

be recently organized with no operating history, or a history of losses attributable to under-capitalization or other factors;
be in need of funds to develop a new product or service or to expand into a new market;
be relying upon an untested product or marketing any business, to the extent of limitedresources. This includes industries such as service, finance, natural resources, manufacturing,high technology, product development, medical, communications and others.

Our discretion in the selection of business opportunities is unrestricted, subject to the availability of such opportunities, economic conditions, and other factors.

In connection with such a merger or acquisition, it is highly likely that an amount of stock constituting control of our company would be issued by us or purchased from the current principal shareholders of our company by the acquiring entity or its affiliates.

If stock is purchased from the current shareholders, the transaction is very likely to result in substantial gains to them relative to their purchase price for such stock. In our judgment, our sole officer and director would not thereby become an "underwriter" within the meaning of the Section 2(11) of the Securities Act of 1933, as amended. The sale of a controlling interest by certain principal shareholders of our company could occur at a time when our other shareholders remain subject to restrictions on the transfer of our shares.

Depending upon the nature of the transaction, our sole officer and director may resign his management positions in connection with our acquisition of a business opportunity.

In the event of such a resignation, our sole officer and director would not have any control over the conduct of our business following our combination with a business opportunity. We anticipate that business opportunities will come to our attention from various sources, including our sole officer and director, our other stockholders, professional advisors such as attorneys and accountants, securities broker/dealers, venture capitalists, members of the financial community, and others who may present unsolicited proposals.

We have no plans, understandings, agreements, or commitments with any individual for such person to act as a finder of opportunities. We do not foresee that we would enter into a merger or acquisition transaction with any business with which our sole officer or director is currently affiliated.

Investigation and Selection of Business Opportunities

To a large extent, a decision to participate in a specific business opportunity may be made upon:

management's analysis of the quality of the other company's management and personnel,
the anticipated acceptability of new products or marketing concepts,
the merit of technological changes, the perceived benefit we will derive from becoming apublicly held entity, and numerous other factors which are difficult, if not impossible, toanalyze through the application of any objective criteria.

In many instances, it is anticipated that the historical operations of a specific business opportunity may not necessarily be indicative of the potential for the future because of the possible need to shift marketing approaches substantially, expand significantly, change product emphasis, change or substantially augment management, or make other changes. We will be dependent upon the owners of a business opportunity to identify any such problems which may exist and to implement, or be primarily responsible for the implementation of, required changes.

Because we may participate in a business opportunity with a newly organized firm or with a firm which is entering a new phase of growth, it should be emphasized that we will incur further risks, because management in many instances will not have proved its abilities or effectiveness, the eventual market for such company's products or services will likely not be established, and such company may not be profitable when acquired.

We anticipate that we will not be able to diversify, but will essentially be limited to one such venture because of our limited financing. This lack of diversification will not permit us to offset potential losses from one business opportunity against profits from another, and should be considered an adverse factor affecting any decision to purchase our securities.

Holders of our securities should not anticipate that we necessarily will furnish such holders, prior to any merger or acquisition, with financial statements, or any other documentation, concerning a target company or its business. In some instances, however, the proposed participation in a business opportunity may be submitted to the stockholders for their consideration, either voluntarily by our sole officer and director to seek the stockholders' advice and consent or because state law so requires. The analysis of business opportunities will be undertaken by or under the supervision of our sole officer and director, who is not a professional business analyst.

Although there are no current plans to do so, our management might hire an outside consultant to assist in the investigation and selection of business opportunities, and might pay a finder's fee. Since our management has no current plans to use any outside consultants or advisors to assist in the investigation and selection of business opportunities, no policies have been adopted regarding use of such consultants or advisors, the criteria to be used in selecting such consultants or advisors, the services to be provided, the term of service, or regarding the total amount of fees that may be paid.

However, because of our limited resources, it is likely that any such fee we agree to pay would be paid in stock and not in cash. Otherwise, we anticipate that it will consider, among other things, the following factors:

Potential for growth and profitability, indicated by new technology, anticipated marketexpansion, or new products;
Our perception of how any particular business opportunity will be received by the investmentcommunity and by our stockholders;
Whether, following the business combination, the financial condition of the businessopportunity would be, or would have a significant prospect in the foreseeable future ofbecoming sufficient to enable our securities to qualify for listing on an exchange or on anational automated securities quotation system, such as NASDAQ, so as to permit the tradingof such securities to be exempt from the requirements of a Rule 15g-9 adopted by theSecurities and Exchange Commission.
Capital requirements and anticipated availability of required funds, to be provided by us orfrom our operations, through the sale of additional securities, through joint ventures or similararrangements, or from other sources;
The extent to which the business opportunity can be advanced;
Competitive position as compared to other companies of similar size and experience within theindustry segment as well as within the industry as a whole;
Strength and diversity of existing management, or management prospects that are scheduledfor recruitment;
The cost of our participation as compared to the perceived tangible and intangible values andpotential; and
The accessibility of required management expertise, personnel, raw materials, services,professional assistance, and other required items. In regard to the possibility that our shareswould qualify for listing on NASDAQ, the current standards include the requirements that theissuer of the securities that are sought to be listed have total assets of at least $4,000,000 andtotal capital and surplus of at least $2,000,000, and proposals have recently been made toincrease these qualifying amounts.

Many, and perhaps most, of the business opportunities that might be potential candidates for a combination with us would not satisfy the NASDAQ listing criteria. Not one of the factors described above will be controlling in the selection of a business opportunity, and management will attempt to analyze all factors appropriate to each opportunity and make a determination based upon reasonable investigative measures and available data.

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 and complex.

Potential investors must recognize that, because of our limited capital available for investigation and management's limited experience in business analysis, we may not discover or adequately evaluate adverse facts about the opportunity to be acquired. We are unable to predict when it may participate in a business opportunity. We expect, however, that the analysis of specific proposals and the selection of a business opportunity may take several months or more.

Prior to making a decision to participate in a business opportunity, we will generally request that we be provided with written materials regarding the business opportunity containing such items as:

a description of products
services and company history
management resumes
financial information
available projections, with related assumptions upon which they are based
an explanation of proprietary products and services;
evidence of existing patents, trademarks, or services marks, or rights thereto
present and proposed forms of compensation to management
a description of transactions between such company and its affiliates during relevant periods
a description of present and required facilities
an analysis of risks and competitive conditions
a financial plan of operation and estimated capital requirements
audited financial statements, or if they are not available, unaudited financial statements,together with reasonable assurances that audited financial statements would be able to beproduced within a reasonable period of time not to exceed 60 days following completion of amerger transaction;
and other information deemed relevant.
As part of our investigation, our sole officer and director:
may meet personally with management and key personnel,
may visit and inspect material facilities,
obtain independent analysis or verification of certain information provided,
check references of management and key personnel, and
take other reasonable investigative measures, to the extent of our limited financial resourcesand management expertise.

Regulation of Penny Stocks

Our management believes that various types of potential merger or acquisition candidates might find a business combination with us to be attractive. These include:

acquisition candidates desiring to create a public market for their shares in order to enhanceliquidity for current shareholders,
acquisition candidates which have long-term plans for raising capital through the public sale ofsecurities and believe that the possible prior existence of a public market for their securitieswould be beneficial, and
acquisition candidates which plan to acquire additional assets through issuance of securitiesrather than for cash, and believe that the possibility of development of a public market for theirsecurities will be of assistance in that process.

Acquisition candidates that have a need for an immediate cash infusion are not likely to find a potential business combination with us to be an attractive alternative.

Form of Acquisition

It is impossible to predict the manner in which we may participate in a business opportunity. Specific business opportunities will be reviewed as well as our respective needs and desires and the promoters of the opportunity and, upon the basis of that review and our negotiating strength and such promoters, the legal structure or method deemed by management to be suitable will be selected. Such structure may include, but is not limited to:

leases, purchase and sale agreements,
licenses,
joint ventures and
other contractual arrangements.

We may act directly or indirectly through an interest in a partnership, corporation or other form of organization.

Implementing such structure may require our merger, consolidation or reorganization with other corporations or forms of business organization, and although it is likely, we cannot assure you that we would be the surviving entity. In addition, our present management and stockholders most likely will not have control of a majority of our voting shares following a reorganization transaction. As part of such a transaction, our sole officer and director may resign and new directors may be appointed without any vote by stockholders. It is likely that we will acquire participation in a business opportunity through the issuance of our common stock or other securities.

Although the terms of any such transaction cannot be predicted, in certain circumstances, the criteria for determining whether or not an acquisition is a so-called "tax free" reorganization under the Internal Revenue Code of 1986, depends upon the issuance to the stockholders of the acquired company of a controlling interest equal to 80% or more of the common stock of the combined entities immediately following the reorganization.

If a transaction were structured to take advantage of these provisions rather than other "tax free" provisions provided under the Internal Revenue Code, our current stockholders would retain in the aggregate 20% or less of the total issued and outstanding shares. This could result in substantial additional dilution in the equity of those who were our stockholders prior to such reorganization. Our issuance of these additional shares might also be done simultaneously with a sale or transfer of shares representing a controlling interest in us by our sole officer, director and principal shareholder.

We anticipate that any new securities issued in any reorganization would be issued in reliance upon exemptions, if any are available, from registration under applicable federal and state securities laws. In some circumstances, however, as a negotiated element of the transaction, we may agree to register such securities either at the time the transaction is consummated, or under certain conditions or at specified times thereafter.

The issuance of substantial additional securities and their potential sale into any trading market that might develop in our securities may have a depressive effect upon such market. We will participate in a business opportunity only after the negotiation and execution of a written agreement.

Although the terms of such agreement cannot be predicted, generally such an agreement would require:

specific representations and warranties by all of the parties thereto,
specify certain events of default,
detail the terms of closing and the conditions which must be satisfied by each of the partiesthereto prior to such closing,
outline the manner of bearing costs if the transaction is not closed,
set forth remedies upon default, and
include miscellaneous other terms.

We anticipate that we, and/or our sole officer, director and principal shareholder will enter into a letter of intent with the management, principals or owners of a prospective business opportunity prior to signing a binding agreement. This letter of intent will set forth the terms of the proposed acquisition but will not bind any of the parties to consummate the transaction. Execution of a letter of intent will by no means indicate that consummation of an acquisition is probable. Neither we nor any of the other parties to the letter of intent will be bound to consummate the acquisition unless and until a definitive agreement concerning the acquisition as described in the preceding paragraph is executed.

Even after a definitive agreement is executed, it is possible that the acquisition would not be consummated should any party elect to exercise any right provided in the agreement to terminate it on specified grounds. We anticipate that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants, attorneys and others.

If we decide not to participate in a specific business opportunity, the costs incurred in the related investigation would not be recoverable. Moreover, because many providers of goods and services require

compensation at the time or soon after the goods and services are provided, our inability to pay until an indeterminate future time may make it impossible to procure goods and services.

Investment Company Act and Other Regulation

We may participate in a business opportunity by purchasing, trading or selling the securities of such business. We do not, however, intend to engage primarily in such activities.

Specifically, we intend to conduct our activities so as to avoid being classified as an investment company under the Investment Company Act of 1940, and therefore to avoid application of the costly and restrictive registration and other provisions of the Investment Act, and the regulations promulgated thereunder.

Section 3(a) of the Investment Act contains the definition of an investment company, and it excludes any entity that does not engage primarily in the business of investing, reinvesting or trading in securities, or that does not engage in the business of investing, owning, holding or trading investment securities defined as all securities other than government securities or securities of majority- owned subsidiaries the value of which exceeds 40% of the value of its total assets excluding government securities, cash or cash items.

We intend to implement our business plan in a manner that will result in the availability of this exception from the definition of investment company. As a result, our participation in a business or opportunity through the purchase and sale of investment securities will be limited.

Our plan of business may involve changes in our capital structure, management, control and business, especially if we consummates a reorganization as discussed above. Each of these areas is regulated by the Investment Act, in order to protect purchasers of investment company securities. Since we will not register as an investment company, stockholders will not be afforded these protections.

Any securities which we might acquire in exchange for our common stock will be restricted securities within the meaning of the Securities Act of 1933. If we elect to resell such securities, such sale cannot proceed unless a registration statement has been declared effective by the Securities and Exchange Commission or an exemption from registration is available. Section 4(1) of the Act, which exempts sales of securities not involving a distribution, would in all likelihood be available to permit a private sale.

Although the plan of operation does not contemplate resale of securities acquired, if such a sale were to be necessary, we would be required to comply with the provisions of the Act to effect such resale. An acquisition made by us may be in an industry that is regulated or licensed by federal, state or local authorities. Compliance with such regulations can be expected to be a time-consuming and expensive process.

Competition

We expect to encounter substantial competition in its efforts to locate attractive opportunities, primarily from business development companies, venture capital partnerships and corporations, venture capital affiliates of large industrial and financial companies, small investment companies, and wealthy individuals. Many of these entities will have significantly greater experience, resources and managerial capabilities than we do and will therefore be in a better position to obtain access to attractive business opportunities. We also will experience competition from other public blind pool companies, many of which may have more funds available than we do.

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

ITEM 1B. UNRESOLVED STAFF COMMENTS

None.

ITEM 2. PROPERTIES

We currently maintain limited office space located at 1909 Dufferin Avenue, Saskatoon, Saskatchewan, Canada S7J 1B6. We do not believe that we will need to obtain additional office space at any time in the foreseeable future.

In July 2000, Rodney L. Lozinski, our sole officer and director, entered into an oral agreement with Locke Goldsmith, an unrelated third party, to stake one property containing ten unpatented mining claims in the Nickel Plate Mountain area of Hedley, Osoyoos Mining Division, British Columbia, Canada.

During the year ended December 31, 2008, we decided that it was in our best interest to forfeit the remaining five mineral claims, due to the costs associated with maintaining title to the claims.

ITEM 3. LEGAL PROCEEDINGS

We are not party to any pending litigation and to the best of our knowledge none is contemplated or threatened.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

During the fourth quarter, there were no matters submitted to a vote of our shareholders.

PART II

ITEM 5. MARKET FOR COMMON STOCK AND RELATED STOCKHOLDER MATTERS

On June 7, 2005, our common stock received approval for quotation on the Financial Industry Regulatory Authority’s Bulletin Board (formerly the National Association of Securities Dealers Inc.’s Over-the-Counter Bulletin Board) under the name “Dravco Mining Inc.” and under the symbol “DVCO”.

Our common shares are issued in registered form. Signature Stock Transfer, Inc. PMB 317, 2220 Coit Road, Suite 480, Plano, TX 75075, (Telephone: (972) 612-4120; Facsimile: (972) 612-4122) is the transfer agent for our common shares.

The range of high and low closing bid quotations for the Company’s common stock during each quarter of the calendar years ended December 31, 2008, and 2007 is shown below. Prices are inter-dealer quotations, without retail mark-up, markdown or commissions and may not represent actual transactions.

Fiscal Year		High Bid		Low Bid
2008
Fourth Quarter 10-1-08 to 12-31-08	$	0.10	$	0.10
Third Quarter 7-1-08 to 9-30-08	$	0.38	$	0.29
Second Quarter 4-1-08 to 6-30-08	$	0.56	$	0.54
First Quarter 1-1-08 to 3-31-08	$	0.55	$	0.55

Fiscal Year		High Bid		Low Bid
2007
Fourth Quarter 10-1-07 to 12-31-07	$	0.53	$	0.53
Third Quarter 7-1-07 to 9-30-07	$	0.55	$	0.52
Second Quarter 4-1-07 to 6-30-07	$	1.20	$	1.20
First Quarter 1-1-07 to 3-31-07	$	1.06	$	0.94

Holders

As at February 18, 2009 the Company had 30 shareholders of record of common stock, including shares held by brokerage clearing houses, depositories or otherwise in unregistered form. The beneficial owners of such shares are not known to the Company.

Dividends

The Company has not declared any cash dividends with respect to its common stock and does not intend to declare dividends in the foreseeable future. There are no material restrictions limiting, or that are likely to limit the Company’s ability to pay dividends in its common stock.

Section Rule 15(g)of the Securities Exchange Act of 1934

Our shares are covered by section 15(g) of the Securities Exchange Act of 1934, as amended, and Rules 15g-1 through 15g-6, and 15g-9 promulgated thereunder. They impose additional sales practice requirements on broker/dealers who sell our securities to persons other than established customers and accredited investors (generally institutions with assets in excess of $5,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouses).

Rule 15g-1 exempts a number of specific transactions from the scope of the penny stock rules.

Rule 15g-2 declares unlawful broker/dealer transactions in penny stocks unless the broker/dealer has first provided to the customer a standardized disclosure document.

Rule 15g-3 provides that it is unlawful for a broker/dealer to engage in a penny stock transaction unless the broker/dealer first discloses and subsequently confirms to the customer current quotation prices or similar market information concerning the penny stock in question.

Rule 15g-4 prohibits broker/dealers from completing penny stock transactions for a customer unless the broker/dealer first discloses to the customer the amount of compensation or other remuneration received as a result of the penny stock transaction.

Rule 15g-5 requires that a broker/dealer executing a penny stock transaction, other than one exempt under Rule 15g-1, disclose to its customer, at the time of or prior to the transaction, information about the sales persons compensation.

Rule 15g-6 requires broker/dealers selling penny stocks to provide their customers with monthly account statements.

Rule 15g-9 requires broker/dealers to approve the transaction for the customer’s account; obtain a written agreement from the customer setting forth the identity and quantity of the stock being purchased; obtain from the customer information regarding his investment experience; make a determination that the investment is suitable for the investor; deliver to the customer a written statement for the basis for the suitability determination; notify the customer of his rights and remedies in cases of fraud in penny stock transactions; and, the FINRA's toll free telephone number and the central number of the North American Administrators Association, for information on the disciplinary history of broker/dealers and their associated persons.

The application of the penny stock rules may affect your ability to resell your shares.

Securities authorized for issuance under equity compensation plans

We do not have any equity compensation plans and accordingly we have no securities authorized for issuance thereunder.

ITEM 6. SELECTED FINANCIAL DATA

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Management’s Discussion and Analysis of Financial Condition or Plan of Operation and other sections of this report contain forward-looking statements that are based on the current beliefs and expectations of management, as well as assumptions made by, and information currently available to, the Company’s management. Because such statements involve risks and uncertainties, actual actions and strategies and the timing and expected results thereof may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events.

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the audited financial statements and accompanying notes and other financial information appearing elsewhere in this annual report on Form 10-K.

Plan of Operation

Our original plan of operation was to prospect for gold. Due to our failure to commence our exploration work on a timely basis our original geologist is no longer available to do work for us. Our search for a new geologist was not successful and as a result, we decided to explore alternative business opportunities.

On July 28, 2008, Dravco Mining Inc. terminated negotiations with Zoomnation Inc. and no further negotiations between the parties are ongoing and none are expected to take place.

Results of Activities

From Inception on September 20, 2000 to December 31, 2008

We acquired the right to conduct exploration activity on one property containing ten mineral claims in British Columbia, Canada. We completed our public offering on March 10, 2004. During the year ended December 31, 2008, we decided that it was in our best interest to forfeit the remaining five mineral claims due to the costs associated with maintaining title to the claims.

Due to our inability to commence exploration on our mining property in British Columbia, Canada, we have considered other mineral exploration as well as other types of business opportunities.

During the fiscal year ended December 31, 2006, we entered into Letter of Intents with two potential merger candidates. Negotiations with both candidates were unsuccessful and negotiations were terminated. No definitive agreements were entered into with either parties and no further negotiations are ongoing.

On March 6, 2008 the Company entered into a Letter of Intent to acquire 100% of Zoomnation Inc., a corporation formed in the State of Washington. Zoomnation is a social network community with a software utility program that allows users to manage and organize multiple social networks, blogs, video and voice messages, favorite media websites and chat memberships simultaneously. On July 28, 2008, Dravco Mining Inc. terminated negotiations with Zoomnation Inc. and no further negotiations between the parties are ongoing and none are expected to take place.

Since inception, we have used our common stock to raise money for the property acquisition, for corporate expenses and to repay outstanding indebtedness. Net cash provided by the sale of shares from inception on September 20, 2000 to December 31, 2008 was $200,050. In addition, Mr. Lozinski has advanced a total of $23,127 to us (December 31, 2007 - $23,127). The balance of the $23,127 will be repaid once additional funds become available.

For the fiscal years of 2008 and 2007 much of the Company’s resources were directed at locating new business opportunities. To date, the Company has not identified any new business opportunities and has no agreements related to such opportunities.

As at December 31, 2008 we had $41,181 in cash remaining in our treasury. We have enough money to last twelve months in order to cover administrative and professional charges but not to engage in any new business opportunities. The Company’s management is exploring a variety of options to meet the Company’s cash requirements and future capital requirements, including the possibility of equity offerings, debt financing and business combinations. We have engaged in discussions concerning potential business combinations, but have not entered into any agreement for such a combination.

During fiscal 2008, the Company spent $41,024 in general and administrative expenses as compared to $26,260 for fiscal 2007.

Liquidity and Capital Resources

We are a start-up, exploration stage corporation and have not yet generated or realized any revenues from our business operations.

At December 31, 2008, the Company had total assets of $41,181, comprised solely of cash. Our liabilities were $26,697, resulting in a working capital deficit of $14,484. At December 31, 2007, the Company had total assets of $83,090 in cash.

We incurred a loss of $41,024 for the year ended December 31, 2008 and we have incurred an aggregate deficit since inception of $186,766. As at December 31, 2008, we had cash of $41,181 and accounts payable and accrued liabilities of $26,697. As we have yet to commence operations, we have not generated any revenues and there can be no assurance that we can generate significant revenues from operations. We expect to incur administrative and professional charges associated with preparing, reviewing, auditing and filing our financial statements and our periodic and other disclosure documents. For the twelve months ending December 31, 2009, we have budgeted $30,000 for professional fees for our periodic filing requirements and miscellaneous office and filing fees and expenses.

The Company’s failure to generate revenues and conduct operations since its inception raises substantial doubt about the Company’s ability to continue as a going concern. The financial statements included in this annual report have been prepared on the going concern basis, which assumes that the Company will be able to realize its assets and discharge its obligations in the normal course of business. If the Company were not to continue as a going concern, it would likely not be able to realize its assets at values comparable to the carrying value or the fair value estimates reflected in the balances set out in the preparation of the financial statements.

The Company will require additional capital to fund any future plan of operations. The Company's management is exploring a variety of options to meet the Company's cash requirements and future capital requirements, including the possibility of equity offerings, debt financing, and business combinations. There can be no assurance that the Company will be able to raise additional capital, and if the Company is unable to raise additional capital, it will unlikely be able to continue as a going concern.

Recent accounting pronouncements

In May 2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee Insurance Contracts – An interpretation of FASB Statement No. 60”. SFAS No. 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 No. 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.

In May 2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted Accounting Principles”. SFAS No. 162 identifies the sources of accounting principles and the framework for selecting the 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. It is effective 60 days following the SEC’s approval of the Public Company Accounting Oversight Board amendments to AU Section 411, “The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles”. The adoption of this statement is not expected to have a material effect on the Company’s financial statements.

In March 2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 161,“Disclosures about Derivative Instruments and Hedging Activities – an amendment to FASB Statement No. 133”. SFAS No. 161 is intended to improve financial standards for derivative instruments and hedging activities by requiring enhanced disclosures to enable investors to better understand their effects on an entity's financial position, financial performance, and cash flows. Entities are required to provide enhanced disclosures about: (a) how and why an entity uses derivative instruments; (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations; and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. It is effective for financial statements issued for fiscal years beginning after November 15, 2008, with early adoption encouraged. The Company is currently evaluating the impact of SFAS No. 161 on its financial statements, and the adoption of this statement is not expected to have a material effect on the Company’s financial statements.

In December 2007, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements- An amendment of ARB No. 51”.SFAS 160 requires companies with noncontrolling interests to disclose such interests clearly as a portion of equity but separate from the parent’s equity. The noncontrolling interest’s portion of net income must also be clearly presented on the Income Statement. SFAS 160 is effective for financial statements issued for fiscal years beginning after December 15, 2008. The adoption of this statement is not expected to have a material effect on the Company's future financial position or results of operations.

In December 2007, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 141,(revised 2007), “Business Combinations”. SFAS 141 (R) applies the acquisition method of accounting for business combinations established in SFAS 141 to all acquisitions where the acquirer gains a controlling interest, regardless of whether consideration was exchanged. Consistent with SFAS 141, SFAS 141 (R) requires the acquirer to fair value the assets and liabilities of the acquiree and record goodwill on bargain purchases, with main difference the application to all acquisitions where control is achieved. SFAS 141 (R) is effective for financial statements issued for fiscal years beginning after December 15, 2008. The adoption of this statement is not expected to have a material effect on the Company's future financial position or results of operations.

In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities – Including an Amendment of FASB Statement No. 115”. This statement permits entities

to choose to measure many financial instruments and certain other items at fair value. Most of the provisions of SFAS No. 159 apply only to entities that elect the fair value option. However, the amendment to SFAS No. 115 “Accounting for Certain Investments in Debt and Equity Securities” applies to all entities with available-for-sale and trading securities. SFAS No. 159 is effective as of the beginning of an entity’s first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of a fiscal year that begins on or before November 15, 2007, provided the entity also elects to apply the provision of SFAS No. 157, “Fair Value Measurements”. The adoption of this statement did not have a material effect on the Company's financial statements.

In September 2006, the FASB issued SFAS No. 157,“Fair Value Measurements”.The objective of SFAS No. 157 is to increase consistency and comparability in fair value measurements and to expand disclosures about fair value measurements. SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. SFAS No. 157 applies under other accounting pronouncements that require or permit fair value measurements and does not require any new fair value measurements. The provisions of SFAS No. 157 are effective for fair value measurements made in fiscal years beginning after November 15, 2007. The Company adopted this statement for its fiscal year beg inning January 1, 2008. The adoption of this statement did not have a material effect on the Company's financial statements.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

None.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Dravco Mining Inc.
(An Exploration Stage Company)
Financial Statements
(Expressed in U.S. Dollars)

	Index

Report of Independent Registered Public Accounting Firm	F–1

Balance Sheets	F–2

Statements of Operations	F–3

Statements of Cash Flows	F–4

Statements of Stockholders’ Equity	F–5

Notes to the Financial Statements	F–6

Report of Independent Registered Public Accounting Firm

To the Directors and Stockholders
Dravco Mining Inc.
(An Exploration Stage Company)

We have audited the accompanying balance sheets of Dravco Mining Inc. (An Exploration Stage Company) as of December 31, 2008 and 2007, and the related statements of operations, cash flows and stockholders' equity for the years then ended and accumulated for the period from September 20, 2000 (Date of Inception) to December 31, 2008. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control over financial reporting. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Dravco Mining Inc. (An Exploration Company) as of December 31, 2008 and 2007, and the results of its operations, cash flows and stockholders’ equity for the years then ended and accumulated for the period from September 20, 2000 (Date of Inception) to December 31, 2008 in conformity with accounting principles generally accepted in the United States.

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has not generated any revenues and has incurred operating losses since inception. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also discussed in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

MANNING ELLIOTT LLP

CHARTERED ACCOUNTANTS

Vancouver, Canada

February 24, 2009

F-1

Dravco Mining Inc.
(An Exploration Stage Company)
Balance Sheets
(Expressed in U.S. Dollars)


	December 31,		December 31,
	2008		2007
	$		$
Assets

Current Assets
Cash	41,181		83,090
Total Assets	41,181		83,090

Liabilities and Stockholders’ Equity

Current Liabilities
Accounts payable	3,570		4,455
Due to related party (Note 4)	23,127		23,127

Total Liabilities	26,697		27,582
Contingencies (Note 1)

Stockholders’ Equity

Common Stock
100,000,000 shares authorized, with a $0.00001 par value;
18,000,000 shares issued and outstanding	180		180
Additional Paid-in Capital	199,870		199,870
Donated Capital	1,200		1,200
Deficit Accumulated During the Exploration Stage	(186,766	)	(145,742	)

Total Stockholders’ Equity	14,484		55,508
Total Liabilities and Stockholders’ Equity	41,181		83,090

The accompanying notes are an integral part of these financial statements

F-2

Dravco Mining Inc.
(An Exploration Stage Company)
Statements of Operations
(Expressed in U.S. Dollars)


	Accumulated
	from
	September
	20, 2000
	(Date of
	Inception) to		Year Ended		Year Ended
	December 31,		December 31,		December 31,
	2008		2008		2007
	$		$		$

Revenue	–		–		–

Expenses
Consulting fees	2,500		–		–
Mineral property costs	8,370		25		1,075
Office and administrative	37,087		8,024		8,328
Professional fees	114,206		29,334		13,702
Transfer agent and filing fees	21,784		3,641		3,155
Travel	2,819		–		–
Total Expenses	186,766		41,024		26,260

Net Loss	(186,766	)	(41,024	)	(26,260	)

Net Loss Per Share – Basic and Diluted			–		–

Weighted Average Number of Shares Outstanding			18,000,000		18,000,000

The accompanying notes are an integral part of these financial statements

F-3

Dravco Mining Inc.
(An Exploration Stage Company)
Statements of Cash Flows
(Expressed in U.S. Dollars)


	Accumulated
	from September
	20, 2000 (Date of
	Inception) to		Year Ended		Year Ended
	December 31,		December 31,		December 31,
	2008		2008		2007
	$		$		$
Operating Activities

Net loss
	(186,766	)	(41,024	)	(26,260	)
Adjustment to reconcile net loss to net cash
used in operating activities:

Donated rent	1,200		–		–

Changes in operating assets and liabilities

Accounts payable and accrued liabilities	3,570		(885	)	(705	)
Due to related party	23,127		–		(20,000	)

Net Cash Used in Operating Activities	(158,869	)	(41,909	)	(46,965	)

Financing Activities

Proceeds from issuance of common stock	200,050		–		–

Net Cash from Financing Activities	200,050		–		–

Change in Cash	41,181		(41,909	)	(46,965	)

Cash - Beginning of Period	–		83,090		130,055

Cash - End of Period	41,181		41,181		83,090

Supplemental Disclosures
Interest paid	–		–		–
Income taxes paid	–		–		–

The accompanying notes are an integral part of these financial statements

F-4

Dravco Mining Inc.
(An Exploration Stage Company)
Statements of Stockholders’ Equity (Deficit)
For the period from September 20, 2000 (Date of Inception) to December 31, 2008
(Expressed in U.S. Dollars)

						Deficit
			Additional			Accumulated
			Paid-in			during the
	Common Shares		Capital		Donated	Exploration
	Number	Par Value	(Discount)		Capital	Stage		Total
		$	$		$	$		$
Balance September 20, 2000 (Date of
Inception)	–	–	–		–	–		–
Shares issued for cash on September 20,
2000 at $0.000005 per share	10,000,000	100	(50	)	–	–		50
Net loss for the period	–	–	–		–	(19,386	)	(19,386	)
Balance, December 31, 2000	10,000,000	100	(50	)	–	(19,386	)	(19,336	)
Net loss for the year	–	–	–		–	(2,097	)	(2,097	)
Balance, December 31, 2001	10,000,000	100	(50	)	–	(21,483	)	(21,433	)
Net loss for the year	–	–	–		–	(5,129	)	(5,129	)
Balance, December 31, 2002	10,000,000	100	(50	)	–	(26,702	)	(26,652	)
Net loss for the year	–	–	–		–	(21,614	)	(21,614	)
Balance, December 31, 2003	10,000,000	100	(50	)	–	(48,316	)	(48,266	)
Shares issued for cash on March 10, 2004
at $0.025 per share	8,000,000	80	199,920		–	–		200,000
Net loss for the year	–	–	–		–	(16,562	)	(16,562	)
Balance, December 31, 2004	18,000,000	180	199,870		–	(64,878	)	135,172
Donated rent	–	–	–		1,200	–		1,200
Net loss for the year	–	–	–		–	(25,910	)	(25,910	)
Balance, December 31, 2005	18,000,000	180	199,870		1,200	(90,788	)	110,462
Net loss for the year	–	–	–		–	(28,694	)	(28,694	)
Balance, December 31, 2006	18,000,000	180	199,870		1,200	(119,482	)	81,768
Net loss for the year	–	–	–		–	(26,260	)	(26,260	)
Balance, December 31, 2007	18,000,000	180	199,870		1,200	(145,742	)	55,508
Net loss for the year	–	–	–		–	(41,024	)	(41,024	)
Balance, December 31, 2008	18,000,000	180	199,870		1,200	(186,766	)	14,484

The accompanying notes are an integral part of these financial statements

F-5