-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 7HrxBeTFUWYuc4CqwFcIgA==

<SEC-DOCUMENT>0001179110-04-017795.txt : 20040909
<SEC-HEADER>0001179110-04-017795.hdr.sgml : 20040909
<ACCEPTANCE-DATETIME>20040909115959
ACCESSION NUMBER:		0001179110-04-017795
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040909
DATE AS OF CHANGE:		20040909

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ONECAP
		CENTRAL INDEX KEY:			0001111845
		STANDARD INDUSTRIAL CLASSIFICATION:	MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162]
		IRS NUMBER:				880429535
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		5440 WEST SAHARA AVENUE 3RD FLOOR
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89146
		BUSINESS PHONE:		7029481200

	MAIL ADDRESS:	
		STREET 1:		5440 WEST SAHARA AVENUE 3RDFLOOR
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89146

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MOLASKY STEVEN D
		CENTRAL INDEX KEY:			0001265584

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31369
		FILM NUMBER:		041022096

	BUSINESS ADDRESS:	
		STREET 1:		5440 W SAHARA 3RD FL
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89146
		BUSINESS PHONE:		7029481200

	MAIL ADDRESS:	
		STREET 1:		5440 W SAHARA 3RD FL
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89146
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2004-06-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001111845</issuerCik>
        <issuerName>ONECAP</issuerName>
        <issuerTradingSymbol>ONCP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001265584</rptOwnerCik>
            <rptOwnerName>MOLASKY STEVEN D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5440 WEST SAHARA DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>3D FLOOR</rptOwnerStreet2>
            <rptOwnerCity>LAS VEGAS</rptOwnerCity>
            <rptOwnerState>NV</rptOwnerState>
            <rptOwnerZipCode>89146</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>722857</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">In December 2003, OneCap effectuated a one-share-for-seven-shares reverse stock split.  Mr. Molasky's 5,060,000 shares were reverse split to 722,857 shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Steven D. Molasky</signatureName>
        <signatureDate>2004-09-01</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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