SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


         Date of Report (Date of earliest event reported): June 1, 2007
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                             BellaVista Capital, Inc.
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              (Exact name of registrant as specified in its charter)


          Maryland                   0-30507                       94-3324992
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(State or other jurisdiction       (Commission                 (IRS Employer
      of incorporation)            File Number)              Identification No.)


                420 Florence Street, Suite 200, Palo Alto, CA 94301
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                (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code: (650) 328-3060
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                                       N/A
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          (Former name or former address, if changed since last report)






Item 2.02.  Results of Operations and Financial Condition.

On June 1, 2007, the registrant mailed a letter to its shareholders. A copy of
the letter is attached to this report as Exhibit 20.1.

The letter attached to this report as Exhibit 20.1 contains forward-looking
statements. All statements other than statements of historical fact may be
forward-looking statements. These include statements regarding the registrant's
future financial results, operating results, business strategies, projected
costs and capital expenditures, products, competitive positions, and plans and
objectives of management for future operations. Forward-looking statements may
be identified by the use of words such as "may," "will," "should," "expect,"
"plan," anticipate," "believe," "estimate," "predict," "intend" and "continue,"
or the negative of these terms, and include the assumptions that underlie such
statements. The registrant's actual results could differ materially from those
expressed or implied in these forward-looking statements as a result of various
risks and uncertainties, including those set forth in the registrant's annual
report on Form 10-K for the year ended September 30, 2006 under Item 7 -
Financial Statements, at Footnote 1 under the caption "Risk Factors." All
forward-looking statements in the letter attached to this report are based on
information available to the registrant as of the date hereof and the registrant
assumes no obligation to update any such statements.


Item 9.01.  Financial Statements and Exhibits


Exhibit 20.1      Letter to Shareholders dated June 1, 2007


SIGNATURES

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

Dated:   June 1, 2007           BellaVista Capital, Inc.



                                By:   /s/ MICHAEL RIDER
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                                      Michael Rider, President