Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2012

Results for discontinued operations for the year ended December 31, 2012 and the period from June 21, 2011 to December 31, 2011 are as follows:

	2012		2011

China Youth Media, Inc.	$	(3,771)	$	(10,114)
Youth Media (Hong Kong)		-		(2,050)
Youth Media (Beijing)		103,737		(13,285)
Net gain (loss) from discontinued operations	$	99,966	$	(25,449)

Assets and liabilities of discontinued operations

Liabilities of discontinued operations were comprised of the following at December 31, 2012 and 2011:

	2012		2011

Accounts payable and accrued expenses	$	262,032	$	379,521
Related party note payable		169,984		169,984
Convertible note payable		50,000		50,000
Total liabilities	$	482,016	$	599,505

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details