Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

Discontinued Operations

9 Months Ended

Sep. 30, 2011

Pursuant to the Merger Agreement, on June 21, 2011, the Company ceased operations of the following entities: Youth Media (BVI) Limited, Youth Media (BVI) Limited, Youth Media (Hong Kong) Limited, Youth Media (Beijing) Limited and Rebel Crew Films, Inc. Accordingly, the results of operations of these entities are reported as losses from discontinued operations in the consolidated statement of income.

The Company does not expect to derive any revenues from the Discontinued Group in the future and does not expect to incur any significant ongoing operating expenses.

Results for discontinued operations for the period from June 21, 2011 to September 30, 2011 are as follows:

	2011
China Youth Media, Inc.	$	(311,467	)
Youth Media (Beijing)		(3,839	)
Loss from discontinued operations	$	(315,306	)

Assets and liabilities of discontinued operations were comprised of the following at September 30, 2011:

	2011
Prepaid expenses	$	1,163
Other assets		2,000
Total assets	$	3,163

Accounts payable and accrued expenses	$	384,942
Related party note payable		140,242
Convertible note payable		50,000
Beneficial conversion feature		(104,466	)
Total liabilities	$	470,718