While this form is never used, King Cold must have a first form since he is in his race's second form.
Stated to be weaker than Full Power Frieza and stronger than suppressed Mecha Frieza, was killed in one shot by Trunks. Frieza stated that no one he knew could match him at 50% power - which was 60,000,000,000. Piccolo/Vegeta were able to fight him in Harukanaru Densetsu, and were able to hurt him but not defeat him.
No member of Frieza's race who has a second form has been seen without a third form. The reason he did not use it is presumably because he can not control himself.
While King Cold never uses this form it has to exist considering the fact that it is his race's true form. The reason he did not use it is because he can not control himself.
283x First form
50x True Form
100% Full PowerEdit
Cold cannot use this because he cannot control his Full Power in his true form.