UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: March 31, ~~2010~~2025

ORor

o ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ~~____________________________~~____________ to ~~____________________________~~_____________

Commission ~~file~~File ~~number 333~~Number: 000-~~138479~~56038

~~LEGEND~~Holistic ~~MEDIA~~Asset Finance Group Co., ~~INC~~Ltd. (Exact name of registrant as specified in its charter)

(Exact Name of Registrant as Specified in its Charter)

Nevada		87-0602435
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

Level 16, 175 Pitt Street Sydney NSW, Australia		2000
(Address of principal executive offices)		(Zip Code)

Nevada		87-0602435
(State or Other Jurisdiction of		(I.R.S. Employer Identification No.)
Incorporation or Organization)

(02) 9159 1827

(Registrant’s telephone number, including area code)

~~Room~~(Former ~~624,~~name ~~Gehua~~or ~~Tower~~former A address, ~~Qinglong~~if ~~Hutong~~changed ~~Building~~since ~~No.~~last 1report)

~~Beijing~~Securities ~~100007,~~registered ~~People’s~~pursuant ~~Republic~~to Section 12(b) of ~~China~~the Act:

~~(Address~~Title of ~~Principal~~each ~~Executive~~class ~~Offices~~Trading Symbol(s) Name of each exchange on which registered None N/A N/A

Indicate by check mark whether the registrant (~~86-10~~1) ~~8418~~has ~~6112~~filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (~~Issuer’s~~or ~~Telephone~~for ~~Number~~such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.	Yes x No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer o Accelerated filer o Non-accelerated filer o Smaller reporting company x (Do not check if a smaller reporting company)
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).	Yes o No x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

~~Number~~Large ofaccelerated ~~shares~~filer ~~outstanding~~☐ ofAccelerated ~~the~~filer ~~registrant's~~☐ ~~common~~Non-accelerated ~~stock~~filer as☒ ofSmaller ~~May~~reporting ~~17,~~company ~~2010:~~☒ Emerging growth company ☐

~~112,813,355~~If ~~shares~~an ofemerging ~~Common~~growth ~~Stock~~company, ~~US$0.001~~indicate ~~par~~by ~~value~~check mark ~~per~~if ~~share~~the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of May 23, 2025, there were 70,928,185 shares of the registrant’s common stock outstanding.

HOLISTIC ASSET FINANCE GROUP CO., LTD.

Quarterly Report on Form 10-Q

Period Ended March 31, 2025

TABLE OF CONTENTS

PART I: FINANCIAL INFORMATION		3
PART I
Item 1.	Financial Statements (Unaudited)	3
FINANCIAL INFORMATION
CONSOLDIATED BALANCE SHEETS		3
Item 1.	Financial Statements	1
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE LOSS		4
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	2
CONSOLIDATED STATEMENTS OF CASH FLOWS		5
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	8
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS		6
Item 4.	Controls and Procedures	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	41
PART II
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	55
OTHER INFORMATION
Item 4T.	Controls and Procedures	55
Item 1.	Legal Proceedings	9
PART II: OTHER INFORMATION		56
Item 1A.	Risk Factors	9
Item 1.	Legal Proceedings	56
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	9
Item 1A.	Risk Factors	56
Item 3.	Defaults Upon Senior Securities	9
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	56
Item 4.	Mine Safety Disclosures	9
Item 3.	Defaults Upon Senior Securities	56
Item 5.	Other Information	9
Item 4.	Submission of Matters to a Vote of Security Holders	56
Item 6.	Exhibits	9
Item 5.	Other Information	56
Item 6.	Exhibits	56
SIGNATURES		57

PART I~~: FINANCIAL INFORMATION~~

~~Item~~FINANCIAL ~~1. Financial Statements (Unaudited)~~INFORMATION

~~LEGEND~~ITEM ~~MEDIA, INC~~1. ~~AND~~FINANCIAL ~~SUBSIDIARIES~~STATEMENTS.

~~CONSOLIDATED~~Holistic ~~BALANCE~~Asset ~~SHEETS~~Finance Group Co., Ltd

ASCondensed OFConsolidated ~~MARCH~~Financial ~~31, 2010 AND JUNE 30, 2009~~ Statements

~~(UNAUDITED)~~For The Three Months Ended March 31, 2025 And 2024

ASSETS
	March 31,			June 30,
	(unaudited)
CURRENT ASSETS:
Cash & cash equivalents	$	72,521		$	169,343
Accounts receivable, net of allowance for doubtful accounts of $529,050 and $278,043		2,750,208			1,640,226
for March 31 and June 30, respectively
Vendor deposits		25,286			111,682
Related party receivable		2,504,725			341,232
Prepaid expenses		738,016			165,100
Deferred costs		1,213,211			1,583,115
Other receivables		24,073			5,789
Total current assets		7,328,040			4,016,487
Property and equipment, net		45,162			113,824
Intangible assets, net		6,034,131			7,294,089
TOTAL ASSETS	$	13,407,333		$	11,424,400
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	1,190,138		$	1,934,080
Accrued liabilities		1,629,868			894,046
Accrued interest		735,017			502,168
Unearned revenue		786,235			1,130,662
Short term notes payable		56,000			56,000
Related party note payable		375,733			375,733
Related party payables		3,257,676			1,673,756
Other payables		307,295			439,958
Total current liabilities		8,337,962			7,006,403
Commitments and contingencies		-			-
STOCKHOLDERS' EQUITY
Legend Media, Inc. stockholders' equity
Series A convertible preferred stock - 20,000,000 shares authorized,
par value $0.001, 2,083,333 shares issued and outstanding
at March 31, 2010 and June 30, 2009, respectively		2,083			2,083
Common stock - 127,000,000 shares authorized,
par value $0.001, 112,813,355 and 111,013,355 shares issued and outstanding
at March 31, 2010 and June 30, 2009, respectively		112,813			111,013
Additional paid-in capital		70,595,973			69,165,562
Accumulated deficit, deemed dividends related to entities under common control		(56,839,640	)		(56,854,346	)
Accumulated deficit, from operations		(8,821,139	)		(8,030,961	)
Total Accumulated deficit		(65,660,779	)		(64,885,307	)
Other comprehensive income		19,281			24,646
Total Legend Media, Inc stockholders' equity		5,069,371			4,417,997
Non-controlling interest		-			-
Total stockholders' equity		5,069,371			4,417,997
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	13,407,333		$	11,424,400

Index To Condensed Consolidated Financial Statements

The accompanying notes are an integral part of these consolidated financial statements.

Condensed Consolidated Financial Statements		Page

Condensed Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024 (Audited)		F-1

Condensed Consolidated Statements of Operations and Comprehensive (Loss)/Income for the three months ended March 31, 2025 and 2024 (Unaudited)		F-2

Condensed Consolidated Statements of Changes in Shareholders’ Deficit for the three months ended March 31, 2025 and 2024 (Unaudited)		F-3

Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 2024 (Unaudited)		F-4

Notes to the Condensed Consolidated Financial Statements (Unaudited)		F-5

~~LEGEND~~Holistic ~~MEDIA,~~Asset ~~INC.~~Finance ~~AND~~Group ~~SUBSIDIARIES~~Co., Ltd

~~CONSOLIDATED~~Condensed ~~STATEMENTS~~Consolidated OFBalance ~~OPERATIONS AND OTHER COMPREHENSIVE LOSS~~Sheets

~~THREE~~As ~~AND~~of ~~NINE~~March ~~MONTHS~~31, ~~ENDED~~2025 ~~MARCH~~(Unaudited) and December 31,2024 ~~2010 AND 2009~~(Audited)

Currency expressed in United States Dollars (~~UNAUDITED~~“US$” or “$”), except for number of shares or otherwise stated

	Three Months Ended March 31,								Nine Months Ended March 31,
			March 31,				December 31,
	2010				2009				2010			2009
	Note		2025				2024
Revenue	$	3,788,443			$	2,630,624			$	8,716,508		$	7,614,205
ASSETS
Cost of revenue		1,129,952				1,447,254				2,904,374			4,133,588
CURRENT ASSETS
Gross profit		2,658,491				1,183,370				5,812,134			3,480,617
Cash and cash equivalents			$	2,185			$	17,409
Operating expenses:
Account receivable, net				-				6,062
Selling expenses		513,389				928,339				2,555,386			2,075,205
Deposits, prepayments and other receivables	6			1,835				4,948
General and administrative expenses		917,550				817,599				2,563,119			2,495,129
Due from a related party	8			-				742
Depreciation and amortization		189,319				425,286				803,345			1,239,834
Total Current Assets				4,020				29,161
Total operating expenses		1,620,258				2,171,224				5,921,850			5,810,168
NON-CURRENT ASSETS
Income (Loss) from Operations		1,038,233				(987,854	)			(109,716	)		(2,329,551	)
Operating lease right-of-use assets				552				769
Non-operating income (expense):
TOTAL ASSETS				4,572				29,930
Interest income		207				16				567			787
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Interest expense		(11,201	)			(11,044	)			(120,709	)		(212,199	)
CURRENT LIABILITIES
Related party interest expense		(65,458	)			(83,990	)			(198,751	)		(267,724	)
Advance from customers				-				10,000
Loss on disposal of fixed assets		(273	)			(12,803	)			(28,935	)		(16,161	)
Other payables	7			25,712				57,968
Foreign exchange gain (loss)		-				(3,073	)			(25,915	)		4,636
Tax payable	9			13				2,474
Gain on termination of variable interest entity agreements		-				-				578,867			-
Due to related parties	8			219,626				187,311
Impairment loss on intangible assets		-				-				(470,536	)		-
Total current liabilities				245,351				257,753
Other		-								-			(27,654	)
TOTAL LIABILITIES				245,351				257,753
Total non-operating income (expense)		(76,725	)			(110,894	)			(265,412	)		(518,315	)
COMMITMENTS AND CONTINGENCIES
Income (Loss) before income tax		961,508				(1,098,748	)			(375,128	)		(2,847,866	)
SHAREHOLDERS’ DEFICIT
Income tax		308,672				208,890				415,053			502,661
Series A convertible preferred stock - 2,083,333 shares authorized, par value $0.001, 2,083,333 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively				2,083				2,083
Net income (loss)		652,836				(1,307,638	)			(790,181	)		(3,350,527	)
Series L Preferred stock- 1,000 shares authorized, par value $0.001, 1,000 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively				1				1
Less: (Income) Loss attributable to noncontrolling interest		-				107,936				-			(6,087	)
Common stock - 600,000,000 shares authorized, par value $0.001, 70,928,185 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively				70,928				70,928
Net income (loss) attributable to Legend Media, Inc. common shareholders		652,836				(1,415,574	)			(790,181	)		(3,344,440	)
Additional paid-in capital				70,736,456				70,736,456
Other comprehensive income
Accumulated deficit				(71,050,817	)			(71,038,015	)
Foreign currency translation (loss)		(542	)			(70,127	)			(5,365	)		(70,877	)
Accumulated other comprehensive income				570				724
Comprehensive loss		652,294				(1,485,701	)			(795,546	)		(3,415,317	)
Total shareholders’ deficit				(240,779	)			(227,823	)
Comprehensive income (loss) attributable to noncontrolling interest		-				-				-			-
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT			$	4,572			$	29,930
Comprehensive income (loss) attributable to Legend Media, Inc. common shareholders	$	652,294			$	(1,485,701	)		$	(795,546	)	$	(3,415,317	)
Weighted average shares outstanding :
Basic		112,813,355				111,013,355				112,340,362			47,074,322
Diluted		113,565,404				111,013,355				112,340,362			47,074,322
Earnings (Loss) per share:
Basic	$	0.0058			$	(0.0118	)		$	(0.0070	)	$	(0.0712	)
Diluted	$	0.0057			$	(0.0118	)		$	(0.0070	)	$	(0.0712	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

4F-1

~~LEGEND~~Holistic ~~MEDIA,~~Asset ~~INC.~~Finance ~~AND~~Group ~~SUBSIDIARIES~~Co., Ltd

~~CONSOLIDATED~~Condensed ~~STATEMENTS~~Consolidated OFStatements ~~CASH~~of ~~FLOWS~~Operations and Comprehensive (Loss)/Income

~~NINE~~For ~~MONTHS~~the ~~ENDED~~three ~~MARCH~~months ended March 31, ~~2010~~2025 ~~AND~~and 2024 ~~2009~~(Unaudited)

Currency expressed in United States Dollars (~~UNAUDITED~~“US$” or “$”), except for number of shares or otherwise stated

	2010				2009
			Three months ended March 31,				Three months ended March 31,
CASH FLOWS FROM OPERATING ACTIVITIES:
	Note		2025				2024
Net loss	$	(790,181	)		$	(3,344,440	)
Revenue	4		$	263,638			$	40,197
Adjustments to reconcile net loss to net cash
Cost of revenue				(225,287	)			(3,172	)
used in operating activities:
Gross profit				38,351				37,025
Depreciation and amortization		803,345				1,239,834
Operating expenses
Amortization of debt discounts		-				168,803
General and administrative expenses	5			(53,606	)			(30,613	)
Impairment of intangible assets		470,536				-
(Loss)/Profit from operations				(15,255	)			6,412
Warrant expense		86,611				-
Other income, net:
Fair value of stock options		605,100				253,087
Interest income				-				-
Common stock issued for services		450,000				-
Foreign exchange income				2,487				420
Gain on termination of variable interest entity agreements		(573,547	)			-
Other expenses				(34	)			(284	)
Change in allowance for uncollectible accounts		369,121				-
Total other income, net				2,453				136
Barter revenues		(2,466,742	)			(1,955,962	)
(Loss)/Profit before income taxes				(12,802	)			6,548
Barter expenses		1,356,428				954,796
Income tax expenses				-				(3,162	)
Loss on write off of assets		28,915				16,238
Net (loss)/profit				(12,802	)			3,386
Changes in operating assets and liabilities:
Foreign currency translation adjustment				(154	)			(153	)
Accounts receivable		(1,206,293	)			(1,628,330	)
Total Comprehensive (loss)/income			$	(12,956	)		$	3,233
Vendor deposits		84,188				(94,347	)
Weighted average shares outstanding:
Prepaid expenses		(570,728	)			(21,574	)
Basic				70,928,185				35,928,185
Other receivables		(106,618	)			(157,672	)
Diluted				70,928,185				38,011,518
Accounts payable		(559,684	)			816,454
(Loss) Earnings per share
Accrued liabilities		875,072				664,205
Basic			$	(0.0002	)		$	0.0001
Other payables		42,936				448,291
Diluted			$	(0.0002	)		$	0.0001
Unearned revenue		441,077				83,749
Accrued interest		232,849				141,438
Net cash used in operating activities		(427,615	)			(2,415,430	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(834	)			(128,335	)
Payment on termination of variable interest entity		(174,120	)			-
Disposition of cash balances on termination of variable interest entities		(5,439	)			-
Payment on acquisition of Music Radio Limited		-				(740,010	)
Cash paid for acquisition of News Radio Limited		-				(749,990	)
Cash acquired in acquisition of News Radio Limited		-				286
Net cash used in investing activities		(180,393	)			(1,618,049	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of notes payable		-				(360,000	)
Proceeds from sale of convertible preferred stock		-				1,650,000
Contributed capital from assumption of obligations		300,000				60,658
Dividend to shareholders of HTLG		-				(250,170	)
Borrowing from related parties		4,534,599				735,514
Repayment to related parties		(2,894,446	)			(493,986	)
Collection on behalf of the company by related party		(1,428,995	)			(486,043	)
Net cash provided by financing activities		511,158				855,973
Effect of exchange rate changes on cash and cash equivalents		28				4,613
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS		(96,822	)			(3,172,893	)
CASH & CASH EQUIVALENTS, BEGINNING BALANCE		169,343				3,372,499
CASH & CASH EQUIVALENTS, ENDING BALANCE	$	72,521			$	199,606
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	$	-			$	170,000
Income taxes paid	$	-			$	-

The accompanying notes are an integral part of these condensed consolidated financial statements.

5F-2

~~LEGEND~~Holistic ~~MEDIA,~~Asset ~~INC.~~Finance ~~AND~~Group ~~SUBSIDIARIES~~Co., Ltd

~~NOTES~~Condensed TOConsolidated Statements ~~CONSOLIDATED~~of ~~FINANCIAL~~Changes ~~STATEMENTS~~in Shareholders’ Deficit

For the three months ended March 31, 2025 and 2024 (~~UNAUDITED~~Unaudited)

~~Note~~Currency 1expressed -in ~~Organization~~United ~~and~~States ~~Basis~~Dollars (“US$” or “$”), except for number of ~~Presentation~~shares or otherwise stated

Organization and Line of Business

	Series A Preferred Stock				Series L Preferred Stock				Common Stock				Additional					Accumulated other			Total
	Number of shares		Amount		Number of Shares		Amount		Number of Shares		Par Value		Paid-in Capital		Accumulated Deficit			comprehensive income/(loss)			Stockholders’ Deficit
Balance –January 1, 2024		2,083,333	$	2,083		1,000	$	1		35,928,185	$	35,928	$	70,736,456	$	(70,855,708	)		21		$	(81,219	)
Net profit		-		-		-		-		-		-		-		3,386			-			3,386
Other comprehensive loss		-		-		-		-		-		-		-		-			(153	)		(153	)
Balance – March 31, 2024		2,083,333		2,083		1,000		1		35,928,185		35,928		70,736,456		(70,852,322	)		(132	)		(77,986	)

Balance – January 1, 2025		2,083,333		2,083		1,000		1		70,928,185		70,928		70,736,456		(71,038,015	)		724			(227,823	)
Net loss		-		-		-		-		-		-		-		(12,802	)		-			(12,802	)
Other comprehensive loss		-		-		-		-		-		-		-		-			(154	)		(154	)
Balance – March 31, 2025		2,083,333	$	2,083		1,000	$	1		70,928,185	$	70,928	$	70,736,456	$	(71,050,817	)	$	570		$	(240,779	)

~~Legend~~The ~~Media,~~accompanying ~~Inc.~~notes ~~(the~~are ~~“Company”,~~an ~~“Legend~~integral ~~Media”,~~part of ~~“We”,~~these ~~“us”~~condensed orconsolidated ~~“our”),~~financial ~~formerly known as Noble Quests, Inc~~statements., was organized as a Nevada corporation on March 16, 1998 to sell multi-media marketing and other related services to network marketing groups. Specifically, the Company assisted network marketers in using marketing tools such as public relations, advertising, direct mail, collateral development, electronic communications and promotion tools to increase product and service awareness.

On January 31, 2008, the Company entered into a Share Exchange Agreement with Well Chance Investments Limited (“Well Chance”) and Well Chance's sole shareholder (the "Well Chance Shareholder"), which was recorded as a reverse acquisition under the purchase method because the Well Chance Shareholder obtained control of the Company. Accordingly, the share exchange was recorded as a recapitalization of Well Chance, with Well Chance being treated as the continuing entity.F-3

~~Well~~Holistic ~~Chance~~Asset ~~was~~Finance ~~incorporated~~Group ~~under the laws of the British Virgin Islands (“BVI”) as an International Business Company on February 22~~Co., 2005. The Company is focused on building a consumer advertising network in the People’s Republic of China (the “PRC”) focused on the Chinese radio advertising industry and advertising media that targets the consumer base of China.Ltd

OnCondensed ~~May~~Consolidated 8,Statements ~~2008, the Company and Well Chance entered into a Purchase Agreement (the “Music Radio Share Purchase Agreement”) with Music Radio Limited (“MRL”), a BVI company, and all~~ of ~~the~~Cash shareholders of MRL (the “Music Radio Shareholders”), to purchase radio advertising rights in Tianjin, PRC. Pursuant to the Music Radio Share Purchase Agreement, the Company (a) issued 1,892,559 shares of the Company's common stock with an aggregate value of $7,160,714 based on the weighted average trading price of the Company's common stock for the 90 trading days immediately preceding May 8, 2008, and (b) paid $2,000,000, for the purchase of 80% of the common stock of Legend Media Tianjin Investment Company Limited, a BVI company and a wholly owned subsidiary of MRL. The closing of the transaction contemplated under Music Radio Share Purchase Agreement occurred on May 30, 2008, which gave the Company effective control of the related PRC-based company that has Exclusive Advertising Rights Agreement for the Tianjin based FM 92.5 radio channel. Tianjin, is one of the major cities in the PRC with a population over 11.5 million. The Exclusive Advertising Rights Agreement provides the Company with 19,710 minutes per year of radio advertising airtime. The contract is up for renewal annually and expired December 31, 2009. Effective July 20, 2009, the Company disposed of TJ YSLD through a termination of the related VIE agreements, and caused BJ YSLD to enter into such Exclusive Advertising Rights Agreement with Atis on substantially the same terms.Flows

6For the three months ended March 31, 2025 and 2024 (Unaudited)

On June 4, 2008, the Company and Well Chance entered into a Share Purchase Agreement (the “News Radio Share Purchase Agreement”) with News Radio Limited (“NRL”), a BVI company, and Mr. Ju and Ms. Xue Wei (the “News Radio Shareholders”), for the purchase of radio advertising rights in Beijing, PRC. Pursuant to the News Radio Purchase Agreement, the Company (a) issued 67,388 shares of the Company's common stock with an aggregate value of 2,000,000 Chinese Renminbi ("RMB") (equivalent to $287,728 based on the currency exchange rate on June 5, 2008) based on the weighted average trading price of the common stock for the 30 trading days immediately preceding June 4, 2008 on the closing date, (b) paid RMB5,250,000 ($755,287 based on the currency exchange rate on June 5, 2008) payable 28 days after the closing date, and (c) paid RMB1,600,000 ($230,182 based on the currency exchange rate on June 5, 2008) payable 90 days after the closing date. In consideration for the purchase of 100% of the common stock of NRL, a wholly owned subsidiary of MRL, the closing of the transaction contemplated under the News Radio Share Purchase Agreement occurred on July 21, 2008, which gave the Company effective control of the PRC-based company that has Exclusive Advertising Rights Agreement for the Beijing based radio channel FM 90.5. The Exclusive Advertising Rights Agreement provides the Company with minutes per year of radio advertising airtime. The contract is up for renewal annually and was terminated pursuant to a termination agreement dated July 20, 2009.

	Three months ended March 31,			Three months ended March 31,
	2025			2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)/profit	$	(12,802	)	$	3,386
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of operating lease right-of-use assets		224			-
Changes in operating assets and liabilities:
Account receivable		6,106			-
Deposits, prepayments and other receivables		3,126			2,247
Due from a related party		174,705			48,798
Due to related parties		(141,773	)		(47,917	)
Advance from customers		(10,072	)		-
Other payables		(32,387	)		(1,185	)
Tax payable		(2,478	)		4,333
Net cash (used in)/provided by operating activities	$	(15,351	)	$	9,662

Net (decrease)/increase in cash		(15,351	)		9,662
Effect of exchange rates on cash		127			(439	)
Cash and restricted cash, beginning of year		17,409			10,618
Cash and restricted cash, end of period	$	2,185		$	19,841

OnThe ~~August~~accompanying 4,notes are ~~2008, Beijing Maihesi International Advertising Co., Ltd. (“Beijing Maihesi”), a company organized in the PRC and~~ an ~~affiliate~~integral ofpart Legend Media, entered into an Exclusive Advertising Rights Agreement with Beijing Guoguang Guangrong Advertising Co., Ltd. (the "Beijing Maihesi Agreement"), pursuant to which Beijing Maihesi acquired 45,990 advertising minutes per year on FM 107.1, a news and entertainment radio channel broadcasting to the Shenzhen region of ~~the~~these ~~PRC.~~condensed ~~The~~consolidated ~~Exclusive~~financial ~~Advertising Rights Agreement has an original expiration date on December 31, 2010 and was terminated pursuant to a termination agreement dated July 20, 2009~~statements.

On October 28, 2008, Tianjin Yinse Lingdong Advertising Co. Ltd. (“TJ YSLD”), a company organized in the PRC and an affiliate of Legend Media, entered into an Exclusive Advertising Rights Agreement with Beijing Atis Advertising Co., Ltd. (“Atis”), pursuant to which TJ YSLD acquired 19,710 advertising minutes per year on FM 95.5, a music and entertainment radio channel broadcasting to Xi’an region of the PRC. The exclusive contract gives the Company an additional 19,710 minutes of radio advertising airtime. Effective July 20, 2009, the Company disposed of TJ YSLD through a termination of the related VIE agreements, and caused BJ YSLD to enter into such Exclusive Advertising Rights Agreement with Atis on substantially the same terms.F-4

~~Considering~~Holistic ~~the~~Asset ~~potential~~Finance ~~business~~Group opportunities available and the likelihood that certain radio business would continue to cause negative cash flow in the near future due to the global economic depression, the Company restructured its current business assets and formulated a business plan in response to the global and domestic economic changes, including (i) the disposal of FM 90Co.~~5 and FM107.1 radio business and (ii) the assignment of FM 92.5 and FM 95.5 radio business to BJ YSLD.~~, Ltd

OnNotes ~~November 28, 2008, the Company entered into and closed an Acquisition Agreement (the "Airline Advertising Acquisition Agreement") with Well Chance, MRL, and Music Radio Shareholders Pursuant~~ to the ~~Airline~~Condensed ~~Advertising~~Consolidated Acquisition Agreement, the Company acquired control over BJ YSLD and caused the contribution of an airline magazine advertising business of Beijing Hongtenglianguang Advertising Co., Ltd (“HTLG”), a PRC company 100% owned by the Music Radio Shareholders, to BJ YSLD. For the acquisition of control, the Company issued 5,033,680 shares of its newly-created Series B convertible preferred stock ("Series B Preferred Stock") to the Music Radio Shareholders and two warrants to purchase an aggregate of 10,000,000 shares of the Company's common stock, to Mr. Ju. The closing gave Legend Media effective control of BJ YSLD, which has an indirect exclusive advertising agency rights for Xinhua Airline Magazine. The airline magazine reaches a potential audience approaching 20 million passengers per year. The exclusive contract with Xinhua Airline Magazine provides approximately 80 pages of advertising space per monthly issue. Financial Statements

7For the three months ended March 31, 2025 and 2024 (Unaudited)

~~The~~NOTE number of shares of Series B Preferred Stock issued pursuant to the Airline Advertising Acquisition Agreement was calculated based on a purchase price of RMB275,000,000, based on a currency exchange rate of RMB6.829 to $1, ~~and~~– aOrganization ~~per share issue price of 20 times the greater of (a) 75% of the weighted average trading price of one share of common stock for the 15 trading days ended on the third day before closing,~~ and ~~(b)~~Business $0.40. Because 75% of the weighted average trading price for the common stock during the period was $0.3440, the per share issue price used was $0.40. As more fully described below, each share of Series B Preferred Stock was initially convertible into 20 shares of common stock, or 100,673,600 shares of common stock, representing approximately 90.6% of the issued and outstanding common stock on an as-converted basis (not including the Company's outstanding Series A convertible preferred stock, warrants or options). description

AsHolistic aAsset ~~result~~Finance ofGroup Co., Ltd. (the ~~Airline~~“Company”) was ~~Advertising~~incorporated ~~Acquisition~~in ~~Agreement~~Nevada ~~and~~on ~~the~~March ~~reverse~~16, ~~merger~~1998 ~~transaction~~as ~~with~~Noble ~~Well~~Quests ~~Chance~~Inc. The Company changed its name to Legend Media, ~~the~~Inc. ~~historical~~on ~~financial~~February ~~statements~~11, ~~presented~~2008. ~~are~~The ~~those~~Company ofchanged ~~Well~~its ~~Chance~~name ~~and~~to BJHolistic ~~YSLD~~Asset Finance Group Co. At, Ltd., on November 25, 2019. The Company changed its name to Omega International Group, Inc., with the ~~time~~State of ~~the~~Nevada ~~reverse~~on ~~merger~~January 03, ~~Well~~2022. ~~Chance’s~~The ~~historical~~Company ~~financials~~changed ~~became~~its ~~those~~name ofback ~~the~~to ~~Company~~Holistic Asset Finance Group Co. , Ltd. on October 23, 2024. The ~~subsequent~~company ~~Airline~~is ~~Advertising~~a ~~Acquisition~~holding ~~Agreement,~~company ~~which~~and ~~gave~~conducts ~~the~~its ~~Company~~primary ~~control~~operations of BJselling ~~YSLD~~Australian-branded nutrition, ~~was~~health, ~~between~~and ~~entities~~wellness ~~under~~products ~~common~~on ~~control~~Asian ~~and~~markets, asand ~~such,~~also ~~accounted~~providing ~~for~~expertise ~~similarly~~in tosocial amedia ~~pooling~~digital ofmarketing ~~interests~~and video production through its indirectly held wholly owned subsidiary that is incorporated and domiciled in Australia, namely Wombat Australia Holdings Pty Ltd (“Wombat”).

~~The~~Details ~~majority~~ of Legend Media’s revenues are derived from BJ YSLD’s indirect exclusive advertising agency rights for Xinhua Airline Magazine. The previous exclusive advertising agency rights agreement for Xinhua Airline Magazine (the ~~“Airline Advertising Agency Agreement”) expired on March 31, 2010. Due to the lack of cash flow from the business of the~~ Company, itand isits ~~unable~~subsidiaries to come up with the funds needed for the renewal of this Airline Advertising Agency Agreement. Pursuant to an agreement of understanding entered into among certain major shareholders of the Company on December 19, 2009 (the “ ~~AOU”~~Group), ~~Mr.~~are ~~Ju,~~set ~~the~~out CEO of the Company, has personally secured the financing necessary and caused such Airline Advertising Agency Agreement be temporarily entered between HTLG and the media company. The Company is currently attempting to raise capital to repay Mr. Ju the above-said personal financing. Upon the repayment of such personal financing and subject to other terms of the AOU, Mr. Ju will cause the Airline Advertising Agency Agreement be assigned to BJ YSLD. In case capital is raised, considering current market conditions, the Company may have to issue a significant number of shares. Further, if capital is not available from the market, significant shares would have to be issued to Mr. Ju in ~~accordance with~~ the ~~AOU,~~table ~~who~~as ~~provided the capital necessary to secure the Airline Advertising Agency Agreement.~~follows:

Well Chance conducts its business operations through its 80%-owned subsidiary, Legend (Beijing) Consulting Co., Ltd., and its wholly-owned subsidiary, Legend (Beijing) Information and Technology Co., Ltd., each of which are incorporated under the laws of the PRC.

Name of Entity	Background	Ownership	Principle activities
Holistic Asset Finance Group Co., Ltd.	U.S.A	Parent	Holding company

Wombat Australia Holdings Pty Ltd (“Wombat Australia”)	Australia	100%	Selling Australian-branded nutrition, health, and wellness products and providing expertise in social media digital marketing and video production

~~Today~~On January 03, 2022, the Company isfiled ~~building~~ a ~~consumer~~Certificate of ~~advertising~~Amendment ~~network~~with inNevada ~~China~~Secretary ~~to reach the affluent and mass affluent consumers in China through radio and airline travel. Management is focused on key lifestyles~~ of ~~the~~State ~~affluent as a guide for their advertising asset development. Management has established relationships in China that are expected~~ to ~~provide~~amend ~~access~~the toname ~~key sales outlets and additional advertising assets. The Company continues to develop a network~~ of ~~relationships~~Corporation ~~that are expected~~ to ~~allow~~Omega itInternational toGroup, ~~expand sales efforts quickly as new inventory is acquired~~Inc..

~~Going~~On ~~Concern~~January 13, 2022, the Company filed the application with FINRA for the change of company name and symbol. To date, FINRA has not yet finished processing the application.

~~The~~On ~~accompanying~~October ~~consolidated financial statements were prepared on a going concern basis~~23, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements for the three months and nine months ended March 312024, ~~2010,~~ the Company ~~had~~filed a ~~net income~~ Certificate of ~~$652,836~~Amendment ~~and~~with aNevada ~~net~~Secretary ~~loss~~ of ~~$790,181 ,~~State ~~respectively,~~to ~~and~~change ~~has~~the aname ~~working capital deficit~~ of ~~$1,009,922 as~~Corporation ofback ~~March~~to ~~31,~~Holistic ~~2010.~~Asset ~~The~~Finance ~~working~~Group ~~capital deficit includes $3~~Co.,~~257,676 of~~ ~~related party payables and $2,504,725 of related party receivables~~Ltd..

8On July 12, 2022, the Company entered into a Share Exchange Agreement with Wombat Australia Holdings Pty Ltd (“Wombat”), pursuant to which the Company issued 2,000,000 shares of Common Stock (the “Acquisition Shares”) in exchange for 100 % equity ownership stake in Wombat (the “Acquisition”). Following the Acquisition, the Company became the 100% equity holder in Wombat. The Acquisition was structured as a tax-free reorganization.

AsNOTE ~~further~~2 ~~described~~– inSummary Note 8, on January 31, 2008, in connection with the Share Exchange Agreement discussed under Note 1, Legend Media entered into a loan agreement with RMK Emerging Growth Opportunity Fund LP (“RMK”) pursuant to which Well Chance had the right to borrow $375,733 from RMK as a short-term bridge loan. The due date on this loan was February 10, 2009. The principal amount of ~~$375,733~~significant is currently outstanding and is classified as a related party note payable. The accrued interest balance for this loan is $ 559,741 as of March 31 2010, which is classified as accrued interest. On November 25, 2009, RMK issued notice to the Company requiring immediate repayment of the loan. On April 6, 2010, a second notice was received demanding repayment of the loan. The Company is working to resolve the issue, but no outcome has been reached. RMK is a fund controlled by a shareholder who is also the CEO of ARC Investment Partners, LLC, a shareholder of the Company. See Note 16.accounting policies

AsBasis ~~further described in Note 1, Legend Media has effective control~~ of BJpresentation YSLD. The majority of Legend Media’s revenues are derived from BJ YSLD’s indirect exclusive advertising agency rights for Xinhua Airline Magazine. The previous exclusive advertising agency rights agreement for Xinhua Airline Magazine (the “Airline Advertising Agency Agreement”) expired on March 31, 2010. Due to the lack of cash flow from the business of the Company, it is unable to come up with the funds needed for the renewal of this Airline Advertising Agency Agreement. Pursuant to AOU entered into among certain major shareholders of the Company on December 19, 2009, Mr. Ju, the CEO of the Company, has personally secured the financing necessary and caused such Airline Advertising Agency Agreement be temporarily entered between HTLG and the media company. The Company is currently attempting to raise capital to repay Mr. Ju the above-said personal financing. Upon the repayment of such personal financing and subject to other terms of the AOU, Mr. Ju will cause the Airline Advertising Agency Agreement be assigned to BJ YSLD. In case capital is raised, considering current market conditions, the Company may have to issue a significant number of shares. Further, if capital is not available from the market, significant shares would have to be issued to Mr. Ju in accordance with the AOU, who provided the capital necessary to secure the Airline Advertising Agency Agreement.

~~These~~The ~~factors~~accompanying ~~among~~condensed ~~others~~consolidated ~~may~~financial statements ~~indicate~~have been prepared in accordance with accounting principles generally accepted in the ~~Company~~United ~~may~~States beof ~~unable~~America (“U.S. GAAP”) and pursuant to ~~continue~~the asrules aand ~~going~~regulations ~~concern~~of ~~for~~the aU.S. ~~reasonable~~Securities ~~period~~Exchange ofCommission ~~time~~(“SEC”).

In view of these matters, realization of profitability is dependent upon the success of the Company’s future operations and ability to meet its financial requirements and raise additional capital. Management's plans include negotiation with RMK to extend the note, repayment of the personal financing for the assignment of the exclusive right under the Airline Advertising Agency Agreement to BJ YSLD, further marketing of its advertising network and the expansion of its advertising sales for the airline magazine. If the Company is unsuccessful in these efforts and cannot attain sufficient revenue to permit profitable operations, or if it cannot obtain a source of funding or investment, it may be required to substantially curtail or terminate its operations.F-5

~~Basis~~Principles of ~~Presentation~~Consolidation

The ~~accompanying~~condensed ~~unaudited~~ consolidated financial statements include ~~were~~the ~~prepared~~financial instatements ~~conformity~~of ~~with~~the USCompany ~~GAAP.~~and ~~The~~its ~~Company’s~~subsidiaries. ~~functional~~All ~~currency~~intercompany istransactions ~~Renminbi~~and ~~("RMB"),~~balances ~~however,~~among the ~~accompanying~~Company ~~consolidated~~and its ~~financial~~subsidiaries ~~statements~~ have been ~~translated~~eliminated ~~and~~upon ~~presented in United States Dollars (“$”)~~consolidation.

~~Note~~Use ~~2 - Summary~~ of ~~Significant Accounting Policies~~estimates

~~Use~~The preparation of ~~Estimates~~condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the condensed consolidated financial statements and are adjusted to reflect actual experience when necessary. Actual results could differ from these estimates.

~~The~~Commitments ~~preparation of financial statements in conformity with US GAAP requires management to make estimates~~ and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas that require estimates and assumptions include valuation of accounts receivable and determination of useful lives of property and equipment.contingencies

9The Group follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Group but which will only be resolved when one or more future events occur or fail to occur. The Group assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Group or un-asserted claims that may result in such proceedings, the Group evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.

~~Reclassification~~If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Group’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.

~~Certain~~Loss ~~prior~~contingencies ~~period~~considered ~~account~~remote ~~descriptions~~are ~~were~~generally not ~~reclassified~~disclosed tounless ~~conform~~they toinvolve guarantees, in which case the ~~three~~guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Group’s condensed consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and ~~nine~~adversely affect ~~months~~the ~~ended~~Group’s ~~March~~business, 31financial position, ~~2010~~and results of operations or cash flows.

~~Principles of Consolidation~~F-6

~~The~~Revenue ~~accompanying consolidated financial statements include the accounts of Legend Media and its subsidiaries as follows as of March 31, 2010:~~recognition

Subsidiary	Place Incorporated	% Owned
Well Chance	United States	100
Legend Media Investment Company Limited	BVI	80
Two subsidiaries of Legend Media Investment Company Limited
Legend Media Tianjin HK Limited	Hong Kong	80
Legend Media (Beijing) Consulting Company Limited	PRC	80
News Radio Limited	BVI	100
Three subsidiaries of News Radio Limited
CRI News Radio Limited	Hong Kong	100
Legend Media (Beijing) Information and Technology Co., Ltd.	PRC	100
Beijing Yinse Lingdong Advertising Co., Ltd.	PRC	100	*

The Group sells Australian-branded nutrition, health, and wellness products and provides social media digital marketing and video production service to its customers. The Group has adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified ASC 606. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps:

*VariableStep ~~Interest Entity~~1: ~~See~~Identify ~~heading~~the ~~entitled~~contract ~~“Variable~~(s) ~~Interest~~with ~~Entities”~~a ~~below.~~ customer

~~Cash~~Step ~~and~~2: ~~Cash~~Identify ~~Equivalents~~the performance obligations in the contract

~~Cash~~Step ~~and~~3: ~~cash~~Determine ~~equivalents~~the ~~include~~transaction ~~cash on hand and cash in time deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less.~~price

~~Accounts~~Step ~~Receivable~~4: Allocate the transaction price to the performance obligations in the contract

~~The~~Step ~~allowance~~5: ~~for~~Recognize ~~doubtful~~revenue ~~accounts~~when is(or ~~the~~as) ~~Company's best estimate of~~ the ~~amount~~entity ofsatisfies ~~probable~~a ~~credit~~performance losses in the Company's existing accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves.obligation

AtProduct times, the Company will record receivables, which have not yet been invoiced, from advertising contracts. These receivables are recorded in the accompanying consolidated balance sheet and included in accounts receivable. The unbilled accounts receivable balance at March 31, 2010 and June 30, 2009 was $591,615 and $1,285,587, respectivelysales

10The Group generates revenue through the product sale of Australian-branded nutrition, health, and wellness products to its customers and recognizes revenue when control is transferred to customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for the goods and is recorded net of value-added tax (“VAT”). For Australian-branded nutrition, health, and wellness products sales, the Group believes the single performance obligation is satisfied upon delivery of goods to customers which is considered at the point in time, and all the risks and benefits of the transaction has been passed to the customer and the Group does not have any further performance obligation. The revenue is therefore recognized at the point in time when goods are delivered to customers. The Group’s contracts with customers are primarily on a fixed-price basis. The Group recognizes the revenue from Australian-branded nutrition, health, and wellness products sales on a gross basis as the Group is acting as a principal in these transactions and is responsible for fulfilling the promise to provide the specified goods.

~~Prepaid~~Service ~~Expenses~~revenue

~~Prepaid~~The ~~expenses~~Group ~~consist~~also ofgenerates ~~prepayments~~revenue through charging service fees on a fixed-price basis from customers for ~~legal~~providing social media digital marketing and ~~consulting~~video ~~services~~production service, where the Group’s performance obligation is to provide social media digital marketing and video production service assisting its customers on marketing efforts. ~~Prepaid~~Service ~~expenses~~revenue ~~are~~is ~~amortized~~recognized ~~over~~at the ~~period~~point in ~~which~~time when the ~~services~~customers ~~are~~acknowledge ~~performed~~and accept the service.

~~Property~~Contract ~~and Equipment~~balances

~~Property~~Accounts receivable ~~and~~represent ~~equipment~~revenue ~~are~~recognized ~~stated~~when atthe ~~cost.~~Group ~~Expenditures~~has ~~for~~satisfied ~~maintenance~~the Group’s performance obligation and ~~repairs~~has ~~are~~the ~~charged~~unconditional rights to ~~earnings~~payment. asUnearned ~~incurred,~~revenue ~~and~~consists ~~additions,~~of ~~renewals~~payments ~~and~~received ~~betterments~~or ~~are~~awards ~~capitalized.~~to ~~When~~customers ~~property~~related ~~and~~to ~~equipment~~unsatisfied ~~are~~performance ~~retired~~obligation at orthe ~~otherwise~~end ~~disposed~~ of, the ~~related~~period, ~~cost~~included ~~and~~in ~~accumulated~~advance ~~depreciation~~from ~~are~~customers ~~removed~~in ~~from~~the Group’s condensed consolidated balance sheets with the ~~respective~~balance ~~accounts,~~of $Nil and ~~any~~$10,000 ~~gain~~as orof ~~loss~~March is31, ~~included~~2025 and inDecember ~~operations~~31, 2024, respectively. ~~Depreciation~~For ofthe ~~property~~three months ended March 31, 2025 and ~~equipment~~2024, is$10,000 ~~provided~~and ~~using~~$Nil ~~the~~of ~~straight-line~~revenue ~~method~~recognized ~~for~~was ~~substantially~~included in ~~all~~the ~~assets~~Group’s ~~with~~advance ~~estimated~~from ~~lives~~customers’ balance as of: December 31, 2024 and 2023.

Computer Equipment	3 years
Office equipment and furniture	3 years
Leasehold improvements	1 year

F-7

~~Impairment~~Disaggregation of ~~long-lived assets and definite-lived intangible assets~~revenue

~~The~~For ~~Company~~three ~~applies~~months ~~FASB~~ended ~~ASC~~March ~~360-10~~31, ~~“Property,~~2025 ~~Plant,~~ and ~~Equipment”~~2024, ~~which established a “primary asset” approach to determine~~ the ~~cash~~disaggregation ~~flow estimation period for a group~~ of ~~assets~~revenue ~~and~~by ~~liabilities~~major ~~that~~revenue ~~represents~~streams the unit of accounting for a long-lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. The carrying amount of a long-lived asset is ~~not~~as recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. follows:

Revenue Recognition

	Three months ended March 31, 2025		Three months ended March 31, 2024
Product sales	$	-		546
Service revenue		263,638		39,651
Total	$	263,638		40,197

The Company’s revenue recognition policies are in compliance with SEC Staff Accounting Bulletin (“SAB”) 104. The Company purchases (i) advertising inventory in the form of advertising airtime, the unit being minutes, from radio stations and (ii) advertising pages from airline magazines. The Company then distributes these minutes and pages under various sales agreements. The Company recognizes advertising revenue over the term of each sales agreement, provides evidence of an arrangement exists, the fees are fixed or determinable and collection of the resulting receivable is reasonably assured. The Company recognizes deferred revenue when cash has been received on a sales agreement, but the revenue has not yet been earned. Under these policies, no revenue is recognized unless persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collection is reasonably assured. Barter advertising revenues and the offsetting expense are recognized at the fair value of the advertising as determined by similar cash transactions. Under PRC regulations, the Company is required to pay certain taxes on revenues generated. These taxes include:

	Three months ended March 31, 2025		Three months ended March 31, 2024
Singapore	$	10,486		20,473
Taiwan		14,995		19,724
Hong Kong		238,157		-
	$	263,638		40,197

·The ~~Business~~company ~~tax:~~recognizes 5%revenue ofbased ~~revenues~~on ~~generated~~the ~~net~~location of ~~fees~~the ~~paid~~customer at tothe ~~advertising~~time ~~agencies~~of ~~and~~sale ~~media~~or ~~companies~~service ~~for services and advertising inventory;~~delivery.

·Cost ~~Construction tax: 3%~~ of revenues ~~generated net of fees paid to advertising agencies and media companies for services and advertising inventory;~~

11The Group’s product cost includes purchase price, shipping cost and warehousing cost for Australian-branded nutrition, health, and wellness products. The Group’s service cost includes salaries of staff providing social media digital marketing and video production service, as well as direct advertising expenses incurred to execute client campaigns.

·Income ~~Education~~Tax ~~tax: 7% of the business tax;~~Provisions

·The ~~Urban~~Group ~~development~~accounts for current income taxes in accordance with the laws of the relevant tax: 3%authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the ~~business~~condensed consolidated financial statements. Deferred tax; assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

·An ~~Flood~~uncertain ~~insurance~~tax position is recognized as a benefit only if it is “more likely than not” that the tax: 1position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more ~~business~~likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred for the three months ended March 31, 2025 and 2024.

~~The~~Cash ~~Company~~and ~~recognizes~~cash ~~these taxes in cost of revenue in the period incurred.~~equivalents

~~Cost~~Cash and cash equivalents primarily consist of ~~Revenue~~bank deposits, which includes deposits with original maturities of three months or less with commercial banks. The Group’s cash and cash equivalents are not subject to any restrictions.

The Company expenses advertising cost monthly according to the terms of the underlying contracts. The cost of the contract is expensed evenly over the term of the agreement starting on the date advertising is first expected to take place. As the advertising inventory does not carry forward, all minutes are expensed whether sold or not. F-8

~~Stock-Based~~Accounts ~~Compensation~~Receivable

~~The~~Accounts ~~Company~~receivables include trade accounts due from customers. The Group maintains an allowance for ~~its~~credit ~~stock-based~~losses ~~compensation~~which inreflects ~~accordance~~its ~~with~~best ~~FASB~~estimate ~~ASC~~of ~~718~~amounts ~~“Compensation-Stock~~that ~~Compensation~~potentially will not be collected.” The ~~Company~~Group ~~recognizes~~determines inthe ~~its~~allowance ~~statements~~for ~~of operations~~credit losses taking into consideration various factors including but not limited to historical collection experience and ~~other~~credit-worthiness ~~comprehensive~~of ~~income~~the ~~(loss)~~debtors as well as the ~~grant~~age of the individual receivables balance. In June 2016, the FASB issued ASU No. 2016-~~date~~13, ~~fair~~“Financial ~~value~~Instruments — Credit Losses (Topic 326): Measurement of ~~stock~~Credit Losses ~~options~~on ~~and~~Financial ~~other~~Instruments,” ~~equity-based~~which ~~compensation~~requires ~~issued~~the Group to ~~employees~~measure and ~~non-employees~~recognize expected credit losses for financial assets held and not accounted for at fair value through net income. AsThe ofGroup ~~March~~adopted ~~31,~~this ~~2010~~guidance effective January 1, ~~there~~2023. ~~were~~The ~~outstanding~~Group ~~options~~makes specific tobad ~~purchase~~debt 6provisions based on management’s best estimates of specific losses on individual exposures,~~966,820~~ ~~shares~~as well as a provision on historical trends of ~~common~~collections ~~stock~~and future economic conditions (extend data and ~~warrants~~macroeconomic tofactors). ~~purchase~~Account 11balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. As of March 31,~~880~~ 2025 and December 31,~~294~~ ~~shares~~2024, ofthe ~~common~~Group ~~stock~~does not consider an allowance for doubtful accounts to be necessary.

~~Income~~Deposits, ~~Taxes~~prepayments and other receivables

~~The~~Deposits, ~~Company~~prepayments ~~accounts~~and ~~for~~other ~~income~~receivables ~~taxes~~primarily consist inof ~~accordance~~input ~~with~~GST ~~FASB ASC 740~~tax, ~~“Income~~rental ~~Taxes.”~~deposit ~~ASC~~and ~~740~~prepayments ~~requires~~for aservices, ~~company~~which ~~use~~are ~~the~~presented ~~asset~~net ~~and liability method~~ of ~~accounting~~allowance for ~~income~~doubtful ~~taxes,~~accounts. ~~whereby~~Prepayment and ~~deferred~~other ~~tax~~ assets are ~~recognized~~classified ~~for~~as ~~deductible~~either ~~temporary~~current ~~differences,~~or ~~and~~non-current ~~deferred~~based ~~tax~~on ~~liabilities~~the ~~are~~terms ~~recognized~~of ~~for~~the ~~taxable~~respective ~~temporary differences~~agreements. ~~Temporary~~The ~~differences~~Group ~~are~~maintains a ~~the~~provision ~~differences~~for ~~between~~doubtful ~~the~~accounts ~~reported~~to ~~amounts~~state ofprepayments ~~assets~~at ~~and liabilities and~~ their ~~tax~~estimated ~~bases.~~realizable ~~Deferred~~value ~~tax~~based ~~assets~~on ~~are reduced by~~ a ~~valuation~~variety ~~allowance~~of ~~when~~factors, inincluding the possibility ~~opinion~~ of ~~management,~~releasing itthe isprepayments ~~more~~into ~~likely~~service ~~than~~and ~~not~~historical ~~that~~experience. ~~some~~As ~~portion,~~of orMarch ~~all of~~31, ~~the~~2025 ~~deferred~~and ~~tax~~December ~~assets~~31, ~~will not~~2024, beno ~~realized. Deferred~~provision for ~~tax~~doubtful ~~assets~~accounts ~~and liabilities are adjusted~~ for ~~the~~deposits, ~~effects~~prepayments ~~of changes in tax laws~~ and ~~rates~~other onreceivables ~~the~~was ~~date of enactment~~made.

~~Under~~Fair ~~ASC~~Value 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of ~~tax~~Financial benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The adoption had no effect on the Company’s consolidated financial statements.Instruments

~~Concentration~~ASC 825-10 requires certain disclosures regarding the fair value of ~~Credit~~financial ~~Risk~~instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:

~~Cash~~● ~~includes~~Level ~~cash~~1 on— ~~hand~~inputs ~~and~~to ~~demand deposits in accounts maintained within~~ the ~~PRC~~valuation ~~and~~methodology ~~the~~are ~~US.~~quoted ~~Certain~~prices financial instruments, which subject the Company to concentration of credit risk, consist of cash, accounts receivable and related party receivable. The Company maintains balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation (~~“FDIC”~~unadjusted) ~~insured limits~~ for ~~the~~identical ~~banks~~assets ~~located~~or inliabilities ~~the Unites States. Balances at financial institutions within the PRC are not covered by insurance. As of March 31, 2010 and June 30, 2009, the Company had deposits~~ in ~~excess~~active ~~of federally insured limits totaling $0 and $7,907, respectively~~markets. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In terms of accounts receivable, the Company sells to a wide range of customers. No significant customer accounted for a significant percentage of the revenue for the period ended March 31, 2009 and 2010. Related party receivable represents certain customer receivables collected by HTLG on behalf of the Company. Such receivables account for 25.04% and 50.62% of total accounts receivable as of March 31, 2010 and June 30, 2009, respectively. See Note 16 for specific balances and transaction amounts.

12● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data.

~~Foreign~~● ~~Currency~~Level ~~Transactions~~3 ~~and~~— ~~Comprehensive~~inputs ~~Income~~to the valuation methodology are unobservable.

USUnless ~~GAAP~~otherwise ~~requires recognized revenue~~disclosed, ~~expenses,~~the ~~gains~~fair ~~and~~value ~~losses~~of the toGroup’s befinancial ~~included in net income. Certain statements~~instruments, ~~however,~~including ~~require~~cash ~~entities to report specific changes in assets~~ and ~~liabilities,~~cash ~~such as gain or loss on foreign currency translation~~equivalents, asaccount ~~a separate component of stockholders’ equity. Such items~~receivable, ~~along with~~ net, ~~income~~deposits, ~~are~~prepayments ~~components of comprehensive income. Translation gains of $19,281~~ and ~~$24~~other receivables,~~646~~ atdue ~~March~~from ~~31,~~a ~~2010~~related ~~and June 30~~party, ~~2009,~~other ~~respectively~~payables, ~~are~~due ~~classified~~to asrelated anparties, ~~item~~approximates oftheir ~~other~~recorded ~~comprehensive~~values ~~income~~due into ~~the~~their ~~stockholders’ equity section of the consolidated balance sheets~~short-term maturities.

Basic and ~~Diluted~~diluted ~~Earnings~~earnings (~~Loss~~loss) ~~Per Share~~per shares

~~Earnings~~The ~~(loss)~~Group computes earnings per share, ~~is calculated~~ in accordance with ~~FASB~~ ASC Topic 260, “ Earnings Per Share.”, ~~Basic~~which ~~earnings~~requires ~~(loss)~~dual ~~per~~presentation ~~share~~of isbasic ~~based~~and ~~upon~~diluted ~~the~~earnings ~~weighted average number of common shares outstanding~~per share. ~~Diluted~~Basic earnings per share is ~~based~~computed onby ~~the~~dividing ~~assumption~~net ~~that~~income ~~all~~or ~~dilutive~~loss ~~convertible~~by ~~shares~~the ~~and~~weighted ~~stock~~average ~~options~~number ~~were~~of ~~converted~~common orshares ~~exercised.~~outstanding during ~~Dilution is computed by applying~~ the ~~treasury stock method~~period. ~~Under~~Diluted ~~this~~earnings ~~method,~~per ~~options~~share ~~and~~is ~~warrants~~computed ~~are~~by ~~assumed~~dividing tonet beincome ~~exercised~~or atloss by the ~~beginning~~weighted ofaverage ~~the~~number ~~period~~of ~~(or~~common atshares outstanding, plus the ~~time~~issuance of ~~issuance~~common shares, if ~~later)~~dilutive, ~~and~~that ascould ifresult ~~funds~~from ~~obtained~~the ~~thereby~~exercise ~~were~~of ~~used~~outstanding toconvertible ~~purchase~~shares ~~common~~ stock options atand ~~the average market price during the period~~warrants.

~~Statement of Cash Flows~~F-9

InThe ~~accordance~~Group ~~with~~incurred ~~FASB~~a ~~ASC~~net ~~230~~loss of $12,802 and ~~“Statement~~income of ~~Cash Flows~~$3,”386 ~~cash~~for ~~flows~~the ~~from~~three ~~the~~months ~~Company’s~~ended ~~operations~~March ~~are~~31, ~~calculated~~2025 ~~based~~and ~~upon~~2024. Therefore, the ~~local~~effect ~~currencies~~of ~~using~~convertible ~~the~~preferred ~~average~~stock ~~translation~~outstanding ~~rates.~~is Asanti-dilutive aduring ~~result~~the three months ended March 31, ~~amounts~~2025. ~~related~~As toof both ~~assets~~March 31, 2025 and ~~liabilities~~March ~~reported~~31, on2024, the ~~consolidated~~Company ~~statements~~had of2,083,333 ~~cash~~shares ~~flows~~of ~~will~~convertible ~~not~~preferred ~~necessarily~~stock ~~agree~~outstanding. ~~with~~On ~~changes~~March in31, 2025 the ~~corresponding~~potentially ~~balances~~dilutive onshares ~~the~~were ~~consolidated~~excluded ~~balance~~from ~~sheets~~diluted loss per share because of their anti-dilutive effect.

~~Segment~~The ~~Reporting~~following is an analysis of the differences between basic and diluted earnings per common share. For the three months ended March 31, 2025 and 2024.

FASB ASC 280, “Disclosure about Segments of an Enterprise and Related Information” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has one operating segment.

Net (loss)/income	$	(12,802	)	3,386
Weighted average shares outstanding		70,928,185		35,928,185
Diluted effect of convertible preferred stocks		-		2,083,333
Weighted average shares – diluted		70,928,185		38,011,518

Earnings loss per share:
Basic	$	(0.0002	)	0.0001
Diluted	$	(0.0002	)	0.0001

~~Minority~~Comprehensive ~~Interest in Subsidiaries~~income/(loss)

OnASC ~~May~~Topic 30220, ~~2008~~ Comprehensive Income, ~~the~~establishes ~~Company~~standards ~~purchased~~for ~~80%~~reporting ofcomprehensive ~~the~~income ~~common~~and ~~stock~~its ofcomponents. ~~Legend~~Comprehensive ~~Media~~income ~~Tianjin~~or ~~Investment~~loss ~~Company~~is ~~Limited~~defined ~~(LMTICL),~~as athe change ~~BVI~~in ~~company~~equity ~~and~~during a ~~wholly-owned~~period ~~subsidiary~~from oftransactions ~~MRL.~~and Asother aevents ~~result~~from ofnon-owner ~~this~~sources. ~~purchase,~~The ~~the~~component ~~Company~~of ~~recognized~~comprehensive ~~initial~~loss ~~minority~~totalling $154 ~~interest~~and oncomprehensive ~~its~~loss ~~consolidated~~totalling ~~balance sheet of~~ $~~15,524.~~153 ~~The~~for ~~loss~~the ~~attributed~~three tomonths ~~minority non-controlling~~ended ~~interest~~March ~~was~~31, 2025 ~~separately~~and ~~designated~~2024, inrespectively, ~~the~~related ~~accompanying~~to ~~statements~~foreign ~~of operations~~currency ~~and~~translation ~~other comprehensive income~~adjustment.

13Segment reporting

~~Variable~~The Group ~~Interest~~follows ~~Entities~~ASC 280, “Segment Reporting” The Group’s Chief Executive Officer or chief operating decision-maker reviews the condensed consolidated financial results when making decisions about allocating resources and assessing the performance of the Group as a whole and hence, the Group has only one reportable segment.

InForeign January 2003, the FASB issued Statement of Financial Accounting Standards Board Interpretation FSB ASC 810-10-05-8, "Consolidation of VIEs.” ASC 810-10-05-8 states that in general, a VIE is a corporation, partnership, limited liability corporation, trust or any other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations.Currencies

OnThe functional ~~May~~currencies ~~30,~~of ~~2008,~~the weGroup ~~purchased~~are ~~80%~~the local currency of the ~~common~~countries ~~stock~~in ofwhich ~~Legend~~the ~~Media~~subsidiaries ~~Tianjin~~operate. ~~Investment~~The ~~Company~~Group’s condensed ~~Limited,~~consolidated ~~and~~financial onstatements ~~July~~are ~~21,~~reported ~~2008,~~using weU.S. Dollars. The ~~purchased~~results ~~100%~~of operations and the condensed consolidated statements of cash flows denominated in foreign currencies are translated at the ~~common~~average ~~stock~~rates of ~~NRL~~exchange during the reporting period. ~~Additionally,~~Assets onand ~~November~~liabilities denominated ~~28,~~in ~~2008,~~foreign wecurrencies ~~entered~~at ~~into~~the ~~and~~balance ~~closed~~sheet date are translated at the ~~Airline~~applicable ~~Advertising~~rates ~~Acquisition~~of ~~Agreement~~exchange ~~with~~in ~~Well~~effect ~~Chance,~~on ~~MRL,~~that ~~and~~date. The ~~the~~equity ~~Music~~denominated ~~Radio~~in ~~Shareholders,~~the ~~pursuant~~functional tocurrencies ~~which~~is wetranslated ~~acquired~~at ~~control~~the historical rates of BJexchange ~~YSLD,~~at ~~another~~the ~~variable~~time ~~interest~~of ~~entity~~capital contributions. Because ~~Due~~cash toflows ~~certain~~are ~~restrictions~~translated ~~imposed~~based ~~upon~~on ~~foreign~~the ~~direct~~average ~~investment~~translation rates, amounts related to assets and ~~ownership~~liabilities reported on the condensed consolidated statements of ~~advertising~~cash ~~companies~~flows will not necessarily agree with changes in ~~PRC,~~the wecorresponding ~~structured~~balances ~~Legend~~on ~~Media~~the ~~Tianjin~~condensed ~~Investment~~consolidated ~~Company~~balance ~~Limited~~sheets. Translation ~~and~~adjustments ~~NRL~~arising ~~transactions~~from the use of different exchange rates from period to ~~comply~~period ~~with~~are ~~such~~included ~~restrictions,~~as ~~and~~a weseparate ~~acquired~~component ~~control~~in accumulated other comprehensive income included in condensed consolidated statements of TJchanges ~~YSLD~~in shareholders’ equity. Gains and ~~Beijing~~losses ~~Maihesi~~from ~~(through~~foreign currency transactions are included in the ~~purchase~~condensed consolidated statement of ~~NRL)~~income and comprehensive income.

The Group ~~principal~~operates ~~regulations~~primarily ~~governing~~in ~~foreign~~Australia ~~ownership~~and Taiwan, with Taiwan functioning as a branch of Wombat Australia. The entire management team is primarily based in Australia. Accordingly, Wombat Australia’s functional currency is the ~~advertising~~Australian ~~industry~~Dollar in(“AUD”). The ~~China~~Group’s ~~include:~~condensed consolidated financial statements have been translated into the reporting currency of U.S. Dollars (“US$”).

~~· The Catalogue for Guiding Foreign Investment in Industry (2007); and · The Administrative Regulations on Foreign~~F-~~invested Advertising Enterprises (2004).~~10

~~These regulations set the guidelines by which foreign entities can directly invest in the advertising industry. The regulations require foreign entities~~ Rates that ~~directly~~were ~~invest~~used in ~~the~~creating ~~China advertising industry to have at least two years of direct operations in~~ the ~~advertising~~condensed ~~industry~~consolidated ~~outside~~financial of China. Further, since December 10, 2005, 100% ownership in Chinese advertising companies is allowed, but the foreign company must have at least three years of direct operations in the advertising industry outside of China.statements:

Because the Company has not been involved in advertising outside of China for the required number of years, the Company’s domestic PRC operating subsidiaries, which are considered foreign-invested, are currently ineligible to apply for the required advertising licenses in China. The Company’s PRC operating affiliates hold the requisite licenses to provide advertising services in China and they are owned or controlled by PRC citizens designated by the Company. The Company’s radio and airline advertising business operates in China though contractual arrangements with consolidated entities in China. The Company and its PRC subsidiaries entered into contractual arrangements with TJ YSLD, Beijing Maihesi and BJ YSLD as well as their respective shareholders under which:

	March 31, 2025	March 31, 2024
Balance sheet items, except for equity accounts	AUD$1 = 0.6235USD	AUD$1 = 0.6523USD
Items in the statements of income and cash flows	AUD$1 = 0.6228USD	AUD$1 = 0.6523USD

· The Company has been able to exert significant control over significant decisions about the activities of TJ YSLD, Beijing Maihesi and BJ YSLD, · A substantial portion of the economic benefits and risks of the operations of TJ YSLD, Beijing Maihesi and BJ YSLD were transferred to the Company through a revenue assignment agreement, and · The equity owner of TJ YSLD, Beijing Maihesi and BJ YSLD has not had the obligation to absorb the losses of TJ YSLD Beijing Maihesi or BJ YSLD.Leases

14The Group accounts for leases in accordance with ASC Topic 842, Lease. Operating lease right-of-use assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Group uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is presented on the condensed consolidated statements of operations.

As ~~the~~permitted ~~Company~~under ~~has~~ASC ~~been~~Topic ~~able~~842, ~~to exert significant control over~~ the ~~PRC~~Group has ~~operating~~made ~~affiliates~~an ~~and~~accounting apolicy ~~substantial~~election ~~portion~~not ~~of the economic benefits and risks were transferred~~ to ~~the~~apply ~~Company, it determined that~~ the ~~advertising~~lease ~~entities,~~recognition TJprovision ~~YSLD,~~to ~~Beijing~~short ~~Maihesi~~term ~~and~~leases BJ(leases ~~YSLD~~with ~~meet the definition of~~ a ~~VIE~~lease ~~through~~term ~~July 20, 2009. However, subsequent to the July 20, 2009 termination~~ of 12 ~~the~~months TJor ~~YSLD~~less ~~and~~that ~~Beijing~~do ~~Maihesi~~not ~~VIE~~include ~~agreements~~an ~~(see~~option ~~Note~~to ~~11),~~purchase ~~only BJ YSLD meets~~ the ~~definition~~underlying ofasset athat ~~VIE. Accordingly,~~ the ~~Company~~lessee is ~~considered~~reasonably certain to beexercise); instead, the ~~primary~~Group ~~beneficiary~~will ofrecognize the ~~risks~~lease ~~and~~payments ~~benefits~~for ofshort ~~equity~~term ~~ownership~~leases ofon TJa ~~YSLD,~~straight-line ~~Beijing~~basis ~~Maihesi~~over ~~and~~the BJlease ~~YSLD and thus has consolidated these entities in its accompanying financial statements through July 20, 2009 and BJ YSLD as of March 31, 2010~~term.

~~Fair~~Concentrations ~~Value~~ of ~~Financial Instruments and Concentrations~~risks

~~On January 1, 2008, the Company adopted FASB ASC 820-10, “Fair Value Measurements and Disclosures.” ASC 820-10 defines fair value, establishes~~ (a) Concentration ~~three-level valuation hierarchy for disclosures~~ of ~~fair~~credit value measurement and enhances disclosures requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels are defined as follow:risk

~~·Level~~Assets 1that ~~inputs~~potentially tosubject the ~~valuation~~Group ~~methodology~~to ~~are~~a concentration ~~quoted~~of ~~prices~~credit ~~(unadjusted)~~risk ~~for~~primarily ~~identical~~consist ~~assets~~of orcash, ~~liabilities~~accounts inreceivable ~~active~~and ~~markets~~other current assets. ~~·Level~~The 2maximum ~~inputs~~exposure of such assets to credit risk is their carrying amounts as at the ~~valuation~~balance ~~methodology~~sheet ~~include~~dates. ~~quoted~~As ~~prices~~of ~~for~~March 31, ~~similar~~2025 ~~assets~~and December 31, 2024, the aggregate amount of cash of $2,185 and ~~liabilities~~$17,409, respectively, was held at major financial institutions in ~~active~~Australia ~~markets~~and Taiwan, where there are AUD 250,000 in Australia and ~~inputs~~TWD ~~that~~3,000,000 ~~are~~in ~~observable~~Taiwan deposit insurance limit for a legal entity’ balance at major financial institutions in Australia and Taiwan. To limit the ~~asset~~exposure orto ~~liability,~~credit ~~either~~risk ~~directly~~relating orto ~~indirectly~~deposits, ~~for~~the ~~substantially~~Group primarily places cash deposits with large financial institutions. As a result, the ~~full~~amounts ~~term~~not covered by Australian Prudential Regulation Authority and Central Deposit Insurance Corporation were nil and nil as of ~~the~~March ~~financial~~31, ~~instrument~~2025 and 2024. ~~·Level~~The 3Group ~~inputs~~conducts tocredit ~~the~~evaluations ~~valuation~~of ~~methodology~~its ~~are~~customers ~~unobservable~~and suppliers, and generally ~~significant~~does not require collateral or other security from them. The Group establishes an accounting policy to provide for allowance for doubtful accounts based on the ~~fair~~individual ~~value~~customer’s ~~measurement~~and supplier’s financial condition, credit history, and the current economic conditions.

As(b) ofSignificant ~~March 31, 2010, the Company did not identify any assets and liabilities that are required to be presented on the balance sheets at fair value.~~customers

In ~~February 2007,~~ the ~~FASB~~three ~~issued~~months ~~FAS~~ended ~~No.~~March ~~159~~31, ~~“The Fair Value Option for Financial Assets and Financial Liabilities~~2025,” ~~now~~one third ~~known~~party ascustomer ~~ASC~~accounted ~~Topic~~for ~~825-10~~87% ~~“Financial~~of ~~Instruments.”~~the ~~ASC~~Group’s ~~Topic 825-10 permits entities to choose to measure many financial assets and financial liabilities at fair value~~revenues. ~~Unrealized~~In ~~gains and losses on items for which~~ the ~~fair~~three ~~value~~months ~~option~~ended ~~has~~March ~~been~~31, ~~elected~~2024, ~~are~~two ~~reported~~related inparty ~~earnings.~~customers accounted ~~The~~for ~~Company adopted FASB ASC 825-10 on January 1~~51%, ~~2008.~~48% ~~The~~of ~~Company chose not to elect~~ the ~~option~~Group’s ~~to measure the fair value of eligible financial assets and liabilities~~revenues.

~~Recent~~(c) ~~Pronouncements~~Significant suppliers

In ~~June, 2009,~~ the ~~FASB~~three ~~issued~~months ~~SFAS~~ended ~~No.~~March ~~166~~31, ~~Accounting~~2025, ~~for~~one third-party ~~Transfers~~supplier ofaccounted ~~Financial~~for ~~Assets—an~~99% ~~amendment~~ of ~~FASB~~the ~~Statement~~Group’s Nopurchases. ~~140”~~In ~~(“SFAS No.166”). This statement removes~~ the ~~concept~~three ofmonths aended ~~qualifying~~March ~~special-purpose entity Statement 140 and removes the exception from applying Interpretation No. 46 (revised December 2003)~~31, ~~Consolidation of Variable Interest Entities~~2024, toone ~~qualifying special~~third-~~purpose~~party ~~entities.~~supplier accounted ~~SFAS No. 166 has not yet been codified and in accordance with ASC 105, remains authoritative guidance until such time that it is integrated in the FASB ASC. SFAS No. 166 is effective~~ for ~~financial~~100% ~~asset~~of ~~transfers occurring after~~ the ~~beginning of an entity~~Group’s ~~first fiscal year that begins after November 15~~purchases, ~~2009 and early adoption is prohibited~~respectively. ~~The adoption of this amendment will have no material effect on the Company’s financial condition or results of operations.~~

15(d) Significant account receivable

InAs ~~June~~of ~~2009,~~March ~~the FASB issued SFAS No. 167~~31, ~~Amendments to FASB Interpretation No. 46(R) (“SFAS No. 167”)~~2025, ~~which amends~~ the consolidation guidance applicable to variable interest entities. The amendments affect the overall consolidation analysis under FASB ASC 810, Consolidation and require an enterprise to perform an analysis to determine whether the enterpriseGroup’s ~~variable~~accounts receivable interest or interests give it a controlling financial interest in a variable interest entity. SFAS No. 167 has not yet been codified and in accordance with ASC 105, remains authoritative guidance until such time that it is ~~integrated in the FASB ASC~~Nil. ~~SFAS~~As ~~No. 167 is effective as~~ of ~~the~~December ~~beginning of the first fiscal year that begins after November 15~~31, ~~2009~~2024, ~~early~~one ~~adoption~~third isparty ~~prohibited.~~customer ~~The~~accounted ~~adoption~~for 100% of ~~this amendment will have no material effect on~~ the ~~Company~~Group’s ~~financial~~accounts ~~condition or results of operations~~receivable.

In June 2009, the FASB issued SFAS No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162, which is codified in FASB ASC 105, Generally Accepted Accounting Principles (~~“ASC 105”~~e). Foreign ~~ASC~~currency 105 establishes the Codification as the source of authoritative GAAP in the United States (the “GAAP hierarchy”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The Codification carries the same level of authority and the GAAP hierarchy will be modified to include only two levels of GAAP, authoritative and non-authoritative. ASC 105 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. The adoption of ASC 105 has had no material effect on the Company’s financial condition or results of operations.risk

InForeign ~~July~~currency ~~2009,~~transaction ~~the~~gains ~~FASB~~and ~~ratified~~losses represent ~~the~~gains consensus reached by EITF (Emerging Issues Task Force) issued EITF No. 09-1, (ASC Topic 470) “Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance” (“EITF 09-1”). The provisions of EITF 09-1, clarify the accounting treatment and ~~disclosure~~losses ofresulting ~~share-lending~~from ~~arrangements~~transactions ~~that~~entered ~~are~~into ~~classified as equity~~ in ~~the~~a ~~financial~~currency ~~statements~~other ofthan the ~~share~~functional ~~lender.~~currency ~~An example~~ of ~~a share-lending arrangement is an agreement between~~ the ~~Company (share lender) and an investment bank (share borrower) which allows the investment bank to use the loaned shares to enter into equity derivative contracts with investors~~Group. ~~EITF~~These transaction ~~09-1~~gains ~~is effective for fiscal years that begin on or after December 15, 2009~~ and ~~requires retrospective application for all arrangements outstanding as of the beginning of fiscal years beginning on or after December 15~~losses, ~~2009.~~if ~~Share-lending arrangements that have been terminated as a result of counterparty default prior to December 15~~any, ~~2009, but for which the entity has not reached a final settlement as of December 15, 2009~~ are ~~within~~included ~~the~~in scope for share-lending arrangements entered into on or after the beginning of the first reporting period that begins on or after June 15, 2009. The Company does not expect the provisions of EITF 09-1 to have a material effect on the financial position, results of operations~~, or cash flows of the Company~~.

~~In September 2009, the FASB issued ASU 2009~~F-12, Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). This ASU provides amendments to Topic 820 for the fair value measurement of investments in certain entities that calculate net asset value per share (or its equivalent). It is effective for interim and annual periods ending after December 15, 2009. Early application is permitted in financial statements for earlier interim and annual periods that have not been issued. The Company does not expect the provisions of ASU 2009-12 to have a material effect on the financial position, results of operations or cash flows of the Company.11

InRecent ~~October~~Accounting 2009, the FASB issued ASU 2009-13, Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements. This update addressed the accounting for multiple-deliverable arrangements to enable vendors to account for products or services (deliverables) separately rather than a combined unit and will be separated in more circumstances that under existing US GAAP. This ASU eliminated that residual method of allocation for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect the provisions of ASU 2009-13 to have a material effect on the financial position, results of operations, or cash flows of the Company.Pronouncements

16The Group considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued.

In ~~October 2009~~ June 2016, the FASB issued ASU ~~2009~~No. 2016-1413, ~~Software~~“Financial Instruments — Credit Losses (Topic ~~985~~ 326): ~~Certain~~Measurement of ~~Revenue~~Credit ~~Arrangements~~Losses ~~That~~on ~~Include~~Financial ~~Software~~Instruments,” ~~Elements.~~which ~~This~~requires ~~ASU~~the ~~changed~~Group ~~the~~to ~~accounting~~measure ~~model~~and recognize expected credit losses for ~~revenue~~financial assets ~~arrangements~~held ~~that~~and ~~include~~not ~~both~~accounted ~~tangible~~for ~~products~~at fair value through net income. In November 2018, April 2019 and ~~software~~May 2019, ~~elements~~the ~~for~~FASB issued ~~revenue~~ASU ~~arrangements~~No. 2018-19, ~~entered~~“Codification ~~into~~Improvements orto ~~materially~~Topic 326, ~~modified~~Financial inInstruments — Credit ~~fiscal~~Losses,” “ASU ~~years~~No. 2019-04, ~~beginning~~Codification onImprovements orto ~~after~~Topic 326, ~~June~~Financial 15Instruments — Credit Losses,” “Topic 815, ~~2010~~Derivatives and Hedging, and Topic 825, Financial Instruments,” and “ASU No. 2019-05, ~~Early~~Financial Instruments — Credit ~~adoption~~Losses (Topic 326): Targeted Transition Relief,” which provided additional implementation guidance on the previously issued ASU. The ASU is ~~permitted~~effective for fiscal years beginning after Dec. ~~The~~15, ~~Company~~2019 ~~does~~for ~~not~~public ~~expect~~business entities that meet the ~~provisions~~definition of ~~ASU~~an ~~2009-14~~SEC filer, excluding entities eligible to ~~have~~be aSRCs ~~material~~as ~~effect~~defined onby the ~~financial~~SEC. All ~~position~~other entities, ASU ~~results~~No. 2016-13 ofis ~~operations~~effective for fiscal years beginning after December 15, or2022. ~~cash~~The ~~flows~~adoption of this guidance did not have a material impact on the ~~Company~~Group’s condensed consolidated financial statements.

In October ~~2009~~ 2021, the FASB issued ASU ~~2009~~No. 2021-1508, ~~Accounting~~“Business ~~for~~Combinations ~~Own-Share~~(Topic 805): ~~Lending~~Accounting ~~Arrangements~~for inContract ~~Contemplation~~Assets and ofContract ~~Convertible~~Liabilities ~~Debt~~from ~~Issuance~~Contracts orwith ~~Other~~Customers” ~~Financing~~(“ASU 2021-08”). This ASU ~~amends~~requires ~~the~~entities ~~FASB~~to ~~Accounting~~apply ~~Standard~~Topic 606 to ~~Codification~~recognize ~~for~~and ~~EITF~~measure ~~09-1.~~contract Atassets ~~the~~and ~~date~~contract ofliabilities ~~issuance, a share-lending arrangement entered into on an entity’s own shares~~ in ~~contemplation of~~ a ~~convertible~~business ~~debt~~combination. ~~offering~~The oramendments ~~other~~improve ~~financing~~comparability isafter the ~~required~~business tocombination beby ~~measured~~providing atconsistent ~~fair~~recognition ~~value~~ and ~~recognized~~measurement asguidance ~~issuance cost in the financial statements of the entity. ASU No. 2009-15 is effective~~ for ~~fiscal~~revenue ~~years~~contracts ~~beginning~~with oncustomers oracquired ~~after~~in a ~~December~~business ~~15,~~combination ~~2009,~~ and ~~interim~~revenue ~~periods~~contracts ~~within~~with ~~those~~customers ~~fiscal~~not ~~years~~acquired ~~for~~in ~~arrangements~~a ~~outstanding~~business ~~as of the beginning of those fiscal years~~combination. ~~This~~The ~~ASU~~amendments isare effective for ~~interim~~the Group ~~or annual periods~~ beginning ~~on or~~ after ~~June~~ December 15, ~~2009~~2023, ~~for~~and ~~share-lending~~are ~~arrangements~~applied ~~entered~~prospectively ~~into~~to inbusiness ~~those~~combinations ~~periods. Arrangements~~ that ~~have~~occur ~~been~~after ~~terminated as a result of counterparty default prior to~~ the effective date. The ofadoption ~~this Issue but for which the entity had not reached a final settlement as~~ of ~~the effective date are within the scope of~~ this ~~ASU.~~guidance ~~The~~did ~~Company does~~ not ~~expect the provisions of ASU 2009-15 to~~ have a material ~~effect~~impact on the ~~financial~~Group’s ~~position,~~condensed ~~results~~consolidated financial ~~of operations, or cash flows of the Company~~statements.

In ~~December~~November ~~2009~~2023, the Financial Accounting Standards Board (“FASB”) issued ASU ~~2009~~2023-1607, ~~Transfers~~Improvements ~~and~~to ~~Servicing~~Reportable Segment Disclosures (Topic ~~860~~280):. ~~Accounting~~This ~~for~~ASU ~~Transfers~~updates ofreportable segment ~~Financial~~disclosure ~~Assets,~~requirements ~~codifies~~by ~~SFAS~~requiring ~~No.~~disclosures ~~166,~~of ~~Accounting~~significant ~~for~~reportable ~~Transfers~~segment ofexpenses ~~Financial~~that ~~Assets,~~are ~~which~~regularly isprovided ato ~~revision~~the Chief toOperating ~~Statement~~Decision ~~No.~~Maker ~~140,~~(“CODM”) ~~Accounting~~and ~~for~~included ~~Transfers~~within ~~and~~each ~~Servicing~~reported measure of ~~Financial~~a ~~Assets~~segment’s ~~and~~profit ~~Extinguishments~~or ~~of Liabilities~~loss. This ASU ~~No.~~also ~~2009-16~~requires ~~eliminates~~disclosure ~~the concept~~ of athe ~~“qualifying~~title ~~special-purpose~~and ~~entity”~~position ~~from~~of ~~Statement~~the ~~No.140~~individual ~~and~~identified ~~removes~~as the ~~exception~~CODM ~~from~~and ~~applying~~an ~~FASB~~explanation ~~Interpretation~~of ~~(FIN)~~how ~~No.~~the 46CODM ~~(revised~~uses the ~~December~~reported ~~2003),~~measures ~~Consolidation~~ of ~~Variable~~a ~~Interest~~segment’s ~~Entities,~~profit toor ~~qualifying~~loss ~~special-purpose~~in ~~entities.~~assessing Assegment aperformance ~~result,~~and ~~most~~deciding ~~securitization~~how ~~entities~~to ~~that~~allocate ~~previously~~resources. ~~met~~The ASU ~~the~~is ~~requirements~~effective offor aannual ~~qualifying~~periods ~~special-purpose~~beginning ~~entity~~after ~~under~~December ~~Statement~~15, ~~No.~~2023, ~~140~~and ~~that~~interim ~~are~~periods ~~variable~~within ~~interest~~fiscal ~~entities~~years ~~(VIEs)~~beginning ~~are~~after ~~now~~December 15, ~~required~~2023. toThe beGroup ~~evaluated~~adopted ~~under~~ASU ~~the~~2023-07 ~~revised~~as ~~guidance~~of inJanuary ~~the~~1, ~~amendment to FIN 46(R)~~2024. The ~~Company~~adoption ~~does not expect the provisions~~ of ~~ASU~~this ~~2009-16~~guidance todid not have a material ~~effect~~impact on the ~~financial~~Group’s condensed ~~position,~~consolidated ~~results~~financial ~~of operations, or cash flows of the Company~~statements.

In December ~~2009~~2023, the FASB issued ASU ~~2009~~2023-1709, ~~Consolidations (Topic 810):~~ “Improvements to ~~Financial~~Income ~~Reporting~~Tax byDisclosures” ~~Enterprises~~which ~~Involved~~is ~~with~~intended ~~VIEs,~~to ~~codifies~~simplify ~~Statement~~various ~~No.~~aspects ~~167,~~related ~~Amendments~~ to ~~FASB~~accounting ~~Interpretation~~for ~~No.~~income ~~46(R)~~taxes. ~~Among other provisions, this~~ ASU ~~amends~~2023-09 ~~FIN~~removes ~~46(R)~~certain toexceptions ~~require an enterprise~~ to ~~perform an analysis to determine whether~~ the ~~enterprise’s~~general ~~variable~~principles ~~interest or interests give it a controlling financial interest~~ in aTopic ~~VIE.~~740 ~~This~~and ~~analysis~~also ~~identifies~~clarifies ~~the~~and ~~primary~~amends ~~beneficiary~~existing ofguidance ato ~~VIE~~improve consistent asapplication. ~~the~~The ~~enterprise~~amendments ~~that~~in ~~has~~ASU ~~both~~2023-09 ~~(a)~~are ~~the~~effective ~~power~~for topublic ~~direct~~business ~~the~~entities ~~activities~~for offiscal ayears ~~VIE~~beginning ~~that~~after ~~most~~December 15, ~~significantly impact the entity’s economic performance~~2024, ~~and~~including ~~(b)~~interim ~~the~~periods ~~obligation~~therein. toEarly ~~absorb~~adoption ~~losses~~ of the ~~entity~~standard ~~that~~is ~~could~~permitted, ~~potentially~~including beadoption ~~significant~~in tointerim ~~the VIE~~ or ~~the~~annual ~~right~~periods for towhich ~~receive benefits from the entity that could potentially be significant to the VIE. Additionally, ASU No. 2009-17 requires an enterprise to assess whether it has an implicit~~ financial ~~responsibility~~statements tohave ~~ensure~~not ~~that~~yet abeen ~~VIE operates as designed when determining whether it has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance~~issued. The ~~Company~~Group ~~does~~is ~~not~~currently ~~expect~~evaluating the ~~provisions~~adoption of ~~ASU~~this ~~2009-17~~guidance towhether ~~have~~or not a material ~~effect~~impact on the ~~financial~~Group’s ~~position,~~condensed ~~results~~consolidated offinancial ~~operations, or cash flows of the Company~~statements.

17In March 2024, the FASB issued ASU 2024-01, “Compensation — Stock Compensation (Topic 718) — Scope Application of Profits Interest and Similar Awards” (“ASU 2024-01”), which intends to improve clarity and operability without changing the existing guidance. ASU 2024-01 provides an illustrative example intended to demonstrate how entities that account for profits interest and similar awards would determine whether a profits interest award should be accounted for in accordance with Topic 718. Entities can apply the guidance either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. ASU 2024-01 is effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Group is currently evaluating the adoption of this guidance whether or not a material impact on the Group’s condensed consolidated financial statements.

~~In January 2010, the FASB issued ASU 2010~~F-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force). This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and 260 for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the provisions of ASU 2010-01 to have a material effect on the financial position, results of operations, or cash flows of the Company. 12

In ~~January 2010~~March 2024, the FASB issued ~~Accounting Standards Update (~~ASU~~) 2010~~ 2024-02, “Codification ~~Consolidation~~Improvements — Amendments ~~(Topic~~to ~~810):~~Remove ~~Accounting~~References ~~and~~to ~~Reporting~~the ~~for~~Concept ~~Decreases~~Statements” ~~in Ownership of a Subsidiary~~(“ASU 2024-02”). ASU 2024-02 ~~This~~contains ~~amendment~~amendments to ~~Topic~~the ~~810~~FASB ~~clarifies,~~Accounting ~~but~~Standards ~~does~~Codification ~~not~~that ~~change,~~remove ~~the~~references ~~scope~~to ofvarious ~~current~~FASB USConcepts ~~GAAP~~Statements. In Itmost ~~clarifies~~instances, the ~~decrease~~references inare ~~ownership~~extraneous ~~provisions of Subtopic 810-10~~ and ~~removes~~not ~~the~~required ~~potential~~to ~~conflict~~understand ~~between guidance in that Subtopic and asset de-recognition and gain~~ or ~~loss~~apply ~~recognition~~the guidance. ~~that~~In ~~may exist in~~ other USinstances, ~~GAAP.~~the Anreferences were ~~entity~~used ~~will~~in beprior ~~required~~Statements to ~~follow~~provide ~~the amended~~ guidance ~~beginning~~ in ~~the~~certain ~~period~~topical ~~that~~areas. ~~it first adopts SFAS 160 (now included in Subtopic 810~~ASU 2024-~~10).~~02 ~~For~~is ~~those entities that already adopted SFAS 160, the amendments are~~ effective atfor ~~the~~fiscal years beginning ~~of the first interim or annual reporting period ending on or~~ after December 15, ~~2009~~2024. ~~The~~Early ~~amendments~~adoption ~~should~~is ~~be applied retrospectively to the first period that an entity adopted SFAS 160~~permitted. The ~~Company~~Group ~~does~~is ~~not~~currently ~~expect~~evaluating the ~~provisions~~adoption of ~~ASU~~this ~~2010-02~~guidance towhether ~~have~~or not a material ~~effect~~impact on the ~~financial~~Group’s ~~position,~~condensed ~~results~~consolidated offinancial ~~operations, or cash flows of the Company~~statements.

InThe ~~January,~~Group ~~2010,~~does ~~the~~not ~~FASB~~believe ~~issued~~other ~~ASU~~recently ~~2010-3—Extractive~~issued but ~~Activities—Oil~~not ~~and~~yet ~~Gas~~effective ~~(Topic~~accounting ~~932):~~standards, ~~Oil~~if ~~and~~currently ~~Gas~~adopted, ~~Reserve~~would ~~Estimation~~have ~~and~~a ~~Disclosures.~~material ~~This~~effect ~~article~~on ~~discusses~~ the ~~ASU~~Group’s ~~key~~condensed ~~provisions~~consolidated balance ~~and changes in practice. As stated in the adopting release of the SEC Final Rule~~sheets, ~~application~~statements ~~was contingent on the FASB conforming its standards to the requirements~~ of ~~the~~operations ~~SEC Final Rule. ASU 2010-3 is effective for annual periods ending on or after March 31, 2010~~ and iscomprehensive ~~applied~~(loss)/income ~~prospectively as a change in estimate. However, entities that became subject to the disclosure requirements of Topic 932 solely due to the change to the definition of significant oil~~ and ~~gas~~statements ~~producing activities are permitted to apply the disclosure provisions~~ of ~~Topic 932 in annual periods beginning after March 31, 2010.The Company does not expect the provisions of ASU 2010-3 to have a material effect on the financial position, results of operations, or~~ cash flows ~~of the Company~~.

InSubsequent January, 2010, the FASB issued ASU 2010-04, Accounting for Various Topics—Technical Corrections to SEC Paragraphs. The Company does not expect the provisions of ASU 2010-4 to have a material effect on the financial position, results of operations, or cash flows of the Company.Events

In ~~January,~~accordance ~~2010,~~with ~~the~~ASC ~~FASB issued ASU 2010-05 Compensation - Stock Compensation (~~Topic ~~718): Escrowed Share Arrangements and the Presumption of Compensation. This ASU codifies Emerging Issues Task Force Topic D-110~~855, Subsequent ~~“Escrowed Share Arrangements and the Presumption of Compensation~~Events,~~” which was issued on June 18, 2009 to clarify SEC staff views on overcoming~~ the ~~presumption~~Companies ~~that~~evaluated ~~for~~subsequent ~~certain~~events ~~shareholders~~through ~~escrowed share arrangements represent compensation. Topic D-110 concludes that when evaluating whether~~ the ~~presumption~~date ~~of compensation has been overcome, registrants should consider~~ the ~~substance~~condensed ofconsolidated ~~the~~financial ~~arrangement,~~statements ~~including~~were ~~whether~~available ~~the arrangement was entered into~~ for ~~purposes unrelated to, and not contingent upon, continued employment~~issue. The SEC staff believes that an escrowed share arrangement in which the shares are automatically forfeited if employment terminates is compensation. The Company does not expect the provisions of ASU 2010-5 to have a material effect on the financial position, results of operations, or cash flows of the Company.

18NOTE 3 – Going concern

InThe ~~January,~~accompanying ~~2010,~~financial ~~the~~statements have ~~FASB~~been ~~issued~~prepared ~~ASU~~assuming ~~2010-06~~that ~~Fair~~the ~~Value~~Group ~~Measurements~~will ~~and~~continue ~~Disclosures~~as ~~(Topic~~a ~~820):~~going ~~Improving Disclosures about Fair Value Measurements~~concern, towhich ~~enhance~~contemplates ~~the~~continuity ~~usefulness~~ of ~~fair~~operations, ~~value measurements. The amended guidance requires both the disaggregation~~ realization of ~~information in certain existing disclosures~~assets, ~~as well as the inclusion of more robust disclosures about valuation techniques~~ and ~~inputs~~liquidation ~~to recurring and nonrecurring fair value measurements. The Company does not expect the provisions~~ of ~~ASU~~liabilities ~~2010-6~~in ~~to have a material effect on~~ the ~~financial~~normal ~~position,~~course ~~results~~ of ~~operations, or cash flows of the Company~~business.

InAs ~~January,~~reflected ~~2010,~~in the ~~FASB~~accompanying financial ~~issued~~statements, ~~ASU~~the ~~2010-07~~Group ~~Not-for-Profit~~had ~~Entities~~an ~~(Topic~~accumulated ~~958):~~deficit ~~Not-for-Profit~~on ~~Entities:~~March ~~Mergers~~31, ~~and~~2025 ~~Acquisitions.~~of ~~Statement~~$71,050,817 ~~164~~and ~~is effective for mergers that occur~~ on orDecember ~~after~~31, ~~the~~2024 ~~beginning~~ of ~~an initial reporting period beginning after December 15~~$71, ~~2009~~038,015. ItThe Group isincurred ~~effective~~net ~~for~~loss ~~acquisitions occurring on or after the beginning~~ of ~~the~~$12,802 ~~first~~and ~~annual~~had ~~reporting~~net ~~period~~cash ~~beginning~~used onin oroperating ~~after~~activities ~~December~~of $15,351 ~~2009 (January 1, 2010~~ for ~~a calendar-year entity). Application of~~ the ~~Statement’s~~three ~~provisions~~months toended ~~mergers~~March or31, ~~acquisitions before those dates is prohibited~~2025. As ~~The Company does not expect the provisions~~ of ~~ASU~~March ~~2010-7~~31, to2025, ~~have a material effect on~~ the ~~financial~~Group ~~position,~~had ~~results~~net ofcurrent ~~operations,~~liability ~~or cash flows~~ of ~~the Company~~$241,331.

InThese ~~February,~~conditions raised ~~2010,~~substantial doubt about the ~~FASB~~Group’s ~~issued~~ability ~~ASU~~to ~~2010-08—Technical~~continue ~~Corrections~~as toa ~~Various~~going ~~Topics~~concern. The ~~Company~~Group’s ~~does~~ability ~~not~~to ~~expect~~continue ~~the~~as ~~provisions~~a ofgoing concern ~~ASU~~will ~~2010-8~~require the Group to ~~have~~obtain aadditional ~~material~~financing ~~effect~~to onfund ~~the~~its ~~financial~~operations. ~~position,~~In ~~results~~assessing ofthe ~~operations~~going concern, orthe ~~cash~~board ~~flows~~ of ~~the~~directors has ~~Company.~~considered:

~~In February, 2010, the FASB issued Accounting Standards Update (ASU) 2010~~-~~09,~~Additional ~~Subsequent~~equity financing ~~Events~~from ~~(Topic~~major ~~855)~~shareholders –or Amendments to Certain Recognition and Disclosure Requirements. Per this ASU, an SEC filer would no longer be required to disclose the date through which subsequent events have been evaluated. The ASU also refines the scope of the reissuance disclosure requirements to include revised financial ~~statements~~support ~~only.~~from ~~The Company does not expect~~ the ~~provisions~~Group’s ofrelated ~~ASU 2010-9 to have a material effect on the financial position, results of operations, or cash flows of the Company~~parties.

~~In March, 2010, the FASB issued Accounting Standards Update No. 2010~~-~~10,~~Based ~~Consolidation~~on ~~(Topic 810): Amendments for Certain Investment Funds, which defers~~ the ~~effective~~business plans ~~date~~ of the amendments to the consolidation requirements made by FASB Statement 167 to a reporting entity’s interest in certain types of entities. The Update also clarifies other aspects of the Statement 167 amendments. As a result of the deferralGroup, ~~a reporting entity will not be required to apply~~ the ~~Statement~~management 167 amendments to the Subtopic 810-10 consolidation requirements to its interest in an entity that meets the criteria to qualify for the deferral. This Update clarifies how a related party’s interests in an entity should be considered when evaluating the criteria for determining whether a decision maker or service provider fee represents a variable interest. In addition, the Update also clarifies that a quantitative calculation should not be the sole basis for evaluating whether a decision maker’s or service provider’s fee is aactively ~~variable~~developing ~~interest.~~new ~~Reporting~~business ~~entities are required to apply the amended guidance as of the beginning of its first annual reporting period~~ that ~~begins~~will ~~after~~generate ~~November~~revenue ~~15, 2009,~~ and ~~for~~cash ~~interim~~inflows ~~periods within that first annual reporting period. The Company does not expect the provisions of ASU 2010-10~~ to ~~have a material effect on~~ the ~~financial position, results of operations, or cash flows of the Company~~Group.

InThe ~~March,~~board ~~2010,~~of directors believes the ~~FASB~~Group ~~issued~~has ~~Accounting~~adequate ~~Standards~~financial ~~Update~~resources ~~2010-11,~~ to ~~clarify~~continue ~~the~~in ~~type~~operational ofexistence ~~embedded~~for ~~credit~~the ~~derivative~~foreseeable ~~that~~future, isa ~~exempt~~period ~~from~~of ~~embedded~~at ~~derivative~~least 12 ~~bifurcation~~months ~~requirements.~~from ~~Only~~the ~~one~~date ~~form~~ of ~~embedded~~this ~~credit~~report. ~~derivative~~Accordingly, ~~qualifies for~~ the ~~exemption—one~~going ~~that~~concern isbasis ~~related only to the subordination~~ of ~~one~~accounting ~~financial~~continues ~~instrument~~ to ~~another.~~be ~~Entities~~used ~~that have contracts containing an embedded credit derivative feature~~ in ~~a form other than such subordination may need to separately account for~~ the ~~embedded~~preparation ~~credit derivative feature. The Company does not expect~~ of the ~~provisions~~condensed ofconsolidated ~~ASU~~financial ~~2010-11~~statements tofor ~~have a material effect on~~ the ~~financial~~three ~~position,~~months ~~results~~ended ~~of operations~~March 31, ~~or cash flows of the Company~~2025.

19NOTE 4: Revenue

Note 3 – Prepaid Expenses

	Three months ended March 31, 2025		Three months ended March 31, 2024
Product sales	$	-		546
Service revenue		263,638		39,651
	$	263,638	$	40,197

~~Prepaid expenses consist of the following at the date indicated:~~F-13

	March 31		June 30
			(audited)
Capital raising	$	-	$	60,000
Investor relations		232,975		93,534
Advances to suppliers		503,399		-
Other		1,642		11,566
	$	738,016	$	165,100

NOTE 5: General and administration expenses

Capital raising of $60,000 relates to a non-refundable retainer payment made to Susquehanna Financial Group, LLP (“SFG”), an investment banker who was engaged to assist the Company with raising additional capital. Investor relations at March 31, 2010 and June 30, 2009 of $232,975 , (including cash payment of $60,767 and stock payment of 1,800,000 shares in the total amount of $188,237) and $44,738 (all paid in cash), respectively, represent prepayments made to consultants engaged to assist with future marketing and promotion of the Company.

	Three months ended March 31, 2025		Three months ended March 31, 2024
Wage, salary and insurance	$	13,015		14,350
Lease		16,016		2,648
Legal & professional fee		17,935		4,281
General expense		6,640		9,334
	$	53,606	$	30,613

~~Note~~NOTE 4 6 - ~~Deferred~~Deposits, ~~Costs~~prepayments and ~~Unearned~~other ~~Revenues~~receivables

Deferred costs arise from barter transactions whereby the Company receives services or goods for future period use in exchange for advertising. Deferred cost was $1,213,211 and $1,583,115 at March 31, 2010 and June 30, 2009, respectively. Unearned revenue arises from both normal trade sales and barter trade sales. For barter sales, unearned revenue arises when the Company has received the goods or services, but has not provided advertising service to customers. For normal trade sales, unearned revenue arises when a customer prepays for advertising to be delivered in subsequent periods. Unearned Revenue of $786,235 and $1,130,662, respectively, was recognized in the accompanying consolidated balance sheets at March 31, 2010 and June 30, 2009, representing the Company’s entire unearned revenue obligation to deliver advertising for customers in subsequent periods.

	March 31, 2025		December 31, 2024
Prepayments	$	1,260		3,405
Other Receivable		247		1,362
GST tax		328		181
	$	1,835	$	4,948

~~Note~~NOTE 57 –- ~~Fixed~~Other ~~Assets~~payables

Property and equipment consist of the following at the date indicated:

	March 31, 2025		December 31, 2024
Wage, salary and insurance	$	7,944		7,575
Service fee		17,768		44,059
Travel expenses accrued		-		5,837
Others		-		497
	$	25,712	$	57,968

	March 31			June 30
				(audited)
Computer equipment	$	35,099		$	85,026
Office equipment and furniture		38,746			58,820
Leasehold improvements		-			8,463
	$	73,845		$	152,309
Less: Accumulated depreciation		(28,683	)		(38,485	)
	$	45,162		$	113,824

NOTE 8 - Related parties transactions and balance

~~Depreciation~~Parties ~~expense~~are ~~for~~considered ~~the~~to ~~three~~be ~~months~~related ~~ended~~if ~~March~~one ~~31,~~party has ~~2010~~the ~~and~~ability, ~~2009~~directly ~~was~~or $4indirectly,~~601~~ ~~,and~~to ~~$8,159,~~control ~~respectively.~~the ~~Depreciation~~other ~~expense~~party ~~for~~or ~~the~~exercise ~~nine~~significant ~~months~~influence ~~ended~~over ~~March~~the ~~31,~~other ~~2010~~party ~~and~~in ~~2009~~making ~~was $13,923~~ financial and ~~$13,315,~~operational ~~respectively~~decisions.

20F-14

~~Note~~The ~~6 –~~related ~~Intangible~~parties ~~Assets~~that had transactions or balances with the Group in 2025 and 2024 consisted of:

Intangible assets consist of the following at the dates indicated:

Related Parties		Relationship with company
Huang Huei-Ching		The Company’s President and Director and ultimate beneficial owner
Cui Yan		The Company’s Chief Financial Officer. He resigned as Chief Financial Officer and became a director since August 2024.
Yang Hsiao-Wen		The Company’s Chief Executive Officer
Huang Po-Yao		The Company’s Director before August 2024 and sibling of Huang Huei Ching.
Huang Tz-Ray		The Company’s Director and ceased to be a related party as resigned as a director in August 2024.
Worldwide Savants Capital Pty Ltd		Huang Huei-Ching is the Director of Worldwide Savants Capital
Bears Consulting & Management Co., Ltd		Huang Po-Yao is the Director of Bears Consulting & Management Co., Ltd

	March 31			June 30
Original value				(audited)
FM 92.5 Contract rights	$	1,709,888		$	1,709,888
Exclusivity agreement		7,388,731			7,388,731
FM 90.5 Contract rights		1,016,206			1,016,206
		10,114,825			10,114,825
Less: Impairment
FM 92.5 Contract rights		(757,570	)		(287,034	)
FM 90.5 Contract rights		(774,528	)		(774,528	)
		(1,532,098	)		(1,061,562	)
Less: Accumulated amortization
FM 92.5 Contract rights		(952,317	)		(717,050	)
Exclusivity agreement		(1,354,601	)		(800,446	)
FM 90.5 Contract rights		(241,678	)		(241,678	)
		(2,548,596	)		(1,759,174	)
Intangibles, net	$	6,034,131		$	7,294,089

Related party balance

Amortization expense for the Company’s intangible assets for the three months ended March 31, 2010 and 2009 was $184,718 and $350,191 , respectively, amortization expense for the Company’s intangible assets for the nine months ended March 31, 2010 and 2009 was $789,422 and $1,038,446 , respectively.

	March 31, 2025		December 31, 2024
Due from a related party*
Huang Huei-Ching	$	-		742

* The balance is prepayment for an operating lease.

Due to related parties**
Huang Huei-Ching		214,694		182,309
Bears Consulting & Management Co., Ltd		4,932		5,002
	$	219,626		187,311

FM** ~~92.5~~The ~~Contract~~above balances are due on demand, interest-free and unsecured.

The FM 92.5 contract rights primarily arise from an exclusive contract acquired in connection with the acquisition of LMTICL, which is amortized over 31 months, from June 1, 2008, the first day of operations by the Company, based on the duration of the existing advertising agreement that expired December 31, 2008 plus renewal of the advertising agreement. The agreement was renewed January 1, 2009. The contract is for radio channel FM 92.5’s Tianjin broadcasting, providing exclusive rights to 54 advertising minutes per day or 19,710 minutes per year. The channel is Beijing-based and airs in Tianjin through a relay facility. The contract is signed between the related VIE of the Company and the channel’s exclusive national agent. The exclusive agent subcontracted the rights for the Tianjin market to the related VIE of the Company. The value was derived as the net present value of the contract’s earnings before interest, tax, depreciation and amortization (“EBITDA”2) ~~over~~Related ~~the~~party contract’s expected term from May 30, 2008 through December 31, 2010, using a discount rate of 15%. The Company determined a 15% discount rate to reflect the rate of return the Company expects to earn on the contract, which resulted in a contract value of $1,709,888. The $1,709,888 contract value was reduced by $287,034 on June 30, 2009 and $470,536 on December 31, 2009 to recognize an impairment loss after forecasting the remaining value of the agreement through December 31, 2010.transactions

Amortization expense on this contract for the three months ended March 31, 2010 and 2009 was nil and $165,473, respectively, amortization expense on this contract for the nine months ended March 31, 2010 and 2009 was $235,268 and $509,890, respectively.

Name of related parties	Three months for March 31, 2025		Three months for March 31, 2024
Revenue
Worldwide Savants Capital Pty Ltd	$	10,486		20,473
Bears Consulting & Management Co., Ltd		14,995		19,178
	$	25,481		39,651

Lease expenses
Huang Huei-Ching	$	9,609		-
	$	9,609		-

21NOTE 9 — Taxes

~~Exclusivity~~(a) ~~Agreement~~Corporate Income Taxes (“CIT”)

The remainder of the purchase price of $7,388,731 was allocated to an Operating Agreement among Legend Media (Beijing) Consulting Co., Ltd., TJ YSLD and Mr. Ju (the "Music Radio Operating Agreement"), entered into in connection with the Music Radio Share Purchase Agreement. Mr. Ju, is the 80% owner of MRL, which is the 20% owner of the post-acquisition VIE, TJ YSLD. Pursuant to the terms of the Operating Agreement, TJ YSLD and Mr. Ju are prohibited from:Neveda

·Nevada ~~Borrowing~~does not have ~~money~~a ~~from~~corporate any third party or assuming any debt; · Selling to any third party or acquiring from any third party any assets, including, without limitation, any intellectual rights; · Granting any security interests for the benefit of any third party through collateralization of TJ YSLD's assets; · Assigning to any third party the agreements entered into by TJ YSLD; and · Selling, transferring and disposing of any license held by TJ YSLDincome tax.

Amortization expense on this contract for the three months ended March 31, 2010 and 2009 was $184,718 and $184,718 , respectively, amortization expense on this contract for the nine months ended March 31, 2010 and 2009 was $554,154 and $528,556 , respectivelyAustralia

FMUnder 90Australian tax law, the applicable corporate income tax rate is 30%, or 25% if the company qualifies as a base rate entity (with annual turnover less than AUD 50 million and 80% or less of its assessable income from passive sources).5 ~~Contract~~In addition, there is no time limit for the carryforward of tax losses, allowing them to be carried forward indefinitely. However, when a company applies carried-forward losses, it must pass either the Continuity of Ownership Test (COT) or the Same Business Test (SBT) to ensure that the loss deduction complies with the regulations.

The FM 90.5 contract rights capitalized in July 2008 and subsequently impaired on June 30, 2009 primarily relate to an exclusive contract acquired in connection with the acquisition of NRL which is being amortized over 48F-months, beginning July 1, 2008. The contract is for radio channel FM 90.5, providing 126 advertising minutes per day or 45,990 minutes per year. In July 2009, the Company terminated the Beijing FM 90.5 contract and during the year ended June 30, 2009 recognized an impairment loss for the entire amount of the intangible asset.15

~~Note 7 - Accrued Liabilities~~Taiwan

~~Accrued~~Under ~~liabilities~~Taiwan ~~consist~~tax oflaw, the ~~following~~applicable corporate income tax rate is fixed at 20% effective from January 1, 2019. Operating losses may be carried forward to the ~~date~~tenth ~~indicated:~~succeeding tax year when a “blue return” is filed or when the return is certified by an independent certified public accountant. No carry-back of losses is permitted.

	March 31		June 30
			(audited)
Compensation	$	53,592	$	79,439
Revenue and tax levies		475,208		171,343
Legal fees		161,303		161,303
Payroll taxes and employee welfare expenses		96,140		12,617
Income taxes (PRC)		835,963		424,574
Other		7,662		44,770
	$	1,629,868	$	894,046

The components of the income tax provision are as follows:

	Three months ended March 31, 2025		Three months ended March 31, 2024

Current income tax expenses	$	-		3,162

~~Note~~ii) ~~8 -~~The ~~Notes~~following ~~Payable~~table reconciles Australia statutory rates to the Group’s income tax expenses:

Loan balances consist of the following at the date indicated:

	Three months ended March 31, 2025			Three months ended March 31, 2024
(Loss)/income before tax	$	(12,802	)		6,548
Australia statutory income tax rate		25	%		25	%
Provision for income taxes		(3,201	)		1,636
Non-taxable income taxes		(9,207	)		49
Non-deductible expenses		-			1,477
Change in valuation allowance		20,777			(958	)
Others		(8,369	)		958
Income tax expenses/(credits)	$	-			3,162

Short term note payable	March 31		June 30
			(audited)
Kantor	$	33,000	$	33,000
Blueday		23,000		23,000
Total notes payable	$	56,000	$	56,000
Related party note payable
RMK	$	375,733	$	375,733

F-16

~~Interest~~iii) ~~expense~~The ~~relating~~following tosummarizes ~~Kantor~~deferred ~~and Blueday loans in the accompanying statements of operations and other comprehensive loss was $11~~assets,~~201~~ ~~and~~net ~~$11,044 for the three months ended March 31, 2010~~ and ~~2009,~~liabilities ~~respectively,~~resulting ~~and~~from ~~was~~differences ~~$34,098~~between ~~and~~financial ~~$212,199~~accounting ~~for~~basis ~~the nine months ended March 31, 2010~~ and ~~2009,~~tax ~~respectively.~~basis ~~Interest expense relating to RMK loan in the accompanying statements~~ of ~~operations~~ ~~and~~assets ~~other comprehensive loss was $65,458~~ and ~~$83,990 for the three months ended March 31, 2010 and 2009, respectively, and was $198,751 and $267,724 for the nine months ended March 31, 2010 and 2009, respectively.~~liabilities:

~~RMK~~The ~~Emerging~~deferred ~~Growth~~tax ~~Opportunity~~assets, ~~Fund~~net LPare ~~Note~~nil and ~~Agreement~~nil as of March 31, 2025 and December 31,2024.

On January 31, 2008, in connection with the Share Exchange Agreement discussed under Note 1, Well Chance entered into a loan agreement by and between Well Chance and RMK Emerging Growth Opportunity Fund LP (“RMK”) pursuant to which Well Chance had the right to borrow $375,733 from RMK as a short-term bridge loan. The ~~advances~~deferred ontax ~~the~~liabilities loan occurred in February 2008, and were due one year from the date of the initial advance along with all applicable loan fees. Notwithstanding the foregoing, in the event of the issuance and sale of equity or equity-linked securities by Well Chance or the Company to investors (other than investors who are ~~stockholders of Well Chance at the time of the loan), which issuance~~ nil and ~~sale~~nil ~~results in gross proceeds to Well Chance of at least $3,000,000 prior to the maturity date, then full repayment of the loan amount, the loan fee and any additional loan fee owed to RMK~~ as of the closing date of such financing (as calculated above) shall be payable by the Company to RMK no later than five business days after the closing date of the equity financing. On July 1, 2008, the Company raised $3,000,000 through an unregistered sale of its Series A convertible preferred stock. As of March 31, ~~2010,~~2025 ~~the note had not been repaid~~ and ~~the~~December ~~full $375~~31,~~733 principal balance and $559,741 of accrued interest is outstanding on the RMK note~~2024. ~~The Company classified the loan as short-term in the accompanying balance sheets.~~

InAs ~~addition,~~of ~~pursuant~~March ~~to the RMK loan agreement~~31, ~~Well~~2025 ~~Chance gave RMK a continuing security interest in all presently existing~~ and ~~subsequently~~December ~~acquired assets and property of Well Chance of whatever nature and wherever located (except for any such assets for which~~31, ~~by the terms of any agreement in existence on the date of the loan agreement~~ 2024, ~~does not permit~~ the ~~granting~~amount of atax ~~security~~loss ~~interest,~~carry-forwards in which case Well Chance shall grant to RMK a security interest in all proceeds received by Well Chance generated by such assets). In connection with this loan the Company issued warrants to purchase 150,294 shares of ~~common stock with an exercise price of $2.50 per share. On August 26, 2009,~~ the ~~Company~~Group ~~reduced~~was ~~the~~as ~~exercise price of the warrants from $2.50 per share to $0.40 per share. See Note 12 for description of warrants.~~following:

The due date on this loan was February 10, 2009. The Company worked with RMK to extend the note, but no outcome has been reached. Related party interest expense of $65,458 and $83,990 were included in the accompanying statements of operations and other comprehensive loss for the three months ended March 31, 2010 and 2009, respectively. Related party interest expense of $198,751 and $267,724 were included in the accompanying statements of operations and other comprehensive loss for the nine months ended March 31, 2010 and 2009, respectively. RMK is a fund controlled by a shareholder who is also the CEO of ARC Investment Partners, LLC, a shareholder of the Company. See Note 16.

Location	March 31, 2025		December 31, 2024
Neveda	$	-		-
Australia		49,629		18,165
Taiwan		94,609		69,449
	$	144,238		87,614

23(b) Tax payable

~~Kantor~~Taxes ~~and~~payable ~~Blueday~~consist ~~Loan~~of ~~Agreements~~the following:

On March 30, 2008, the Company entered into a loan agreement (the "Kantor Loan") with Jonathan Kantor of $100,000. In connection with the Kantor Loan, the Company issued warrants to purchase 40,000 shares of common stock with an exercise price of $2.50 per share. On August 26, 2009, the Company reduced the exercise price of the warrants from $2.50 per share to $0.40 per share. See Note 12.

	March 31, 2025		December 31, 2024
Income tax payable	$	13		13
Value- added tax payable		-		2,461
	$	13		2,474

~~Also~~NOTE on10 ~~March~~– ~~30,~~Stockholder’s 2008, the Company entered into a loan agreement (the "Blueday Loan”) with Blueday Limited ("Blueday"), of $250,000. In connection with the Blueday Loan, the Company issued warrants to purchase 50,000 shares of common stock with an exercise price of $2.50 per share. On August 26, 2009, the Company reduced the exercise price of the warrants from $2.50 per share to $0.40 per share. See Note 12.equity

~~Pursuant~~On toMay ~~the terms of the Kantor Loan and Blueday Loan~~31, ~~the Company was to repay the loans plus applicable loan fees (described below) by June 30~~2019, ~~2008. If~~ the Company ~~had~~amended ~~repaid~~its ~~the outstanding principal amount~~ Articles of ~~each~~Incorporation of (the ~~loans by April 1~~“Amendment”), ~~2008,~~to ~~then~~increase ~~the~~our ~~loan~~authorized ~~fees~~shares ~~would~~from ~~have been $50~~137,000 ~~for the Kantor Loan and $125~~,000 ~~for~~shares ~~the Blueday Loan. Any partial repayments delivered~~ to ~~Mr. Kantor or Blueday after April 1~~610, ~~2008 will be applied in accordance with a formula set forth in the applicable loan agreement by dividing such partial repayments between the outstanding principal amount~~000,000 ~~the outstanding loan fee~~shares, ~~and the applicable additional loan fee due on the date~~ of ~~repayment. In the event that the Company does not pay a loan in full~~which 600, ~~including the outstanding loan fee~~000,000 onare orcommon ~~before~~stock ~~April 1, 2008, then, in addition to the outstanding principal amount~~ and loan fee due, the Company must also pay to Mr. Kantor and Blueday, as applicable, an additional loan fee based on a percentage of the outstanding principal amount of the loan at the time repayment is made. If the Company does not repay a loan by April 1, 2008 but repays such loan in full, including the outstanding loan fee, on April 2, 2008 or the 44-day period thereafter, the applicable additional loan fee will be 10% of the outstanding principal amount of the loan at the time repayment is made. The additional loan fee percentage amount is an additional 10% for each 45-day period subsequent to the initial 45-day period and will continue to accrue until the Company pays such loan in full. In the event that the Company does not repay a loan in full, ~~including the outstanding loan fee and the applicable additional loan fee~~000,000 onare orpreferred ~~before June 30, 2008, then the additional loan fee will continue to increase, and Mr~~stock. Kantor or Blueday will have the right to terminate the applicable loan agreement and declare any amounts owed on such loan due and payable. The Company classified the Kantor Loan and the Blueday Loan as short-term in the accompanying balance sheets.

OnPreferred June 30, 2008, waivers of default were executed on the Kantor and Blueday loans, extending the term of the loans to August 31, 2008. The Company has continued dialogue with the note holders and no formal request for payment has been made. As of March 31, 2010, the Company owed $105,660 , on the Kantor Loan representing $33,000 of principal and $72,660 of interest and additional fees. As of March 31, 2010, the Company owed $129,349, on the Blueday Loan representing $23,000 of principal and $106,349 of interest and additional expenses.stock

24The Company has authorized 10,000,000 preferred shares with a par value of $0.001 per share. The Board of Directors is authorized to divide the authorized shares of Preferred Stock into one or more series, each of which shall be so designated as to distinguish the shares thereof from the shares of all other series and classes.

~~Note~~Series ~~9 –~~A ~~Other~~Preferred ~~Payables~~Stock

~~Other~~The ~~payables~~Company designated ~~consist~~2,083,333 shares of Series A Convertible Preferred Stock (“Series A”), which votes 1:1 to common stock on an as converted basis, enjoys senior liquidation preferences to the ~~following~~common stock, and is convertible to common stock on a broad-based weighted average basis at a $2.40 original issue price. Section 5 of the ~~date~~Certificate ~~indicated:~~of Designation gives the Series A the right to veto any amendment to the Certificate of Designation or the issuance of any class of preferred stock which has rights senior to or have priority over the Series A Preferred.

	March 31		June 30
			(audited)
Insurance	$	3,994	$	6,455
Office expenses		-		4,483
Service commitment to provide advertising pages		74,906		74,957
Due related to termination of radio contracts		-		168,360
Duties and levies		215,460		185,703
Others		12,935		-
	$	307,295	$	439,958

F-17

~~Note~~During 10the –period ~~Basic~~ended March 31, 2025 and ~~Diluted~~December 31, ~~Loss~~2024, ~~Per~~the ~~Share~~Company did not issue any Series A Preferred Stock.

~~For~~As ~~the~~of ~~three and nine months ended~~ March 31, ~~2010~~2025, ~~the Company had net income of $652,836~~ and ~~net~~December ~~loss of $790,181 in the accompanying consolidated statements of operations, respectively. For the three and nine months ended March~~ 31, ~~2009~~2024, the Company ~~incurred~~had ~~a net loss in the accompanying statements of operations of $1~~2,~~307~~083,~~638~~333 ~~and~~shares ~~$3,350,527, respectively. Therefore, the effect~~ of ~~options,~~Series ~~warrants~~A ~~and~~Preferred ~~convertible~~Stock ~~instruments~~issued ~~outstanding is dilutive during the three months ended March 31 2010~~ and ~~anti-dilutive during the nine months ended March 31~~outstanding, ~~2010 and 2009 and the three months ended March 31 2009~~respectively.

~~The~~Series ~~following~~L isPreferred ~~a reconciliation of the number of shares (denominator) used in the basic and diluted earnings per share computations for the three and nine months ended March 31, 2010 and 2009:~~Stock

	Three Months Ended				Three Months Ended
	March 31, 2010				March 31, 2009
			Per Share				Per Share
	Shares		Amount		Shares		Amount
Basic earnings (loss) per share		112,813,355	$	0.0058		111,013,355	$	(0.0118	)
Effect of dilutive stock options		752,049	$	0.0001		-		-
Diluted earnings (loss) per share		113,565,404	$	0.0057		111,013,355

On May 24, 2019, the Company filed a Certificate of Designation of Series L Preferred Stock (“Series L”) with the Secretary of State of Nevada. The number of shares of Series L Stock designated is 1,000 shares. The Series L are entitled to vote with the common stock at a ratio of 1,000,000 votes per share of Series L. The Series L do not have rights to dividends, have a liquidation preference junior to the Series A Preferred but senior to the common stock, have no redemption rights and are not convertible into common stock.

	Nine Months Ended					Nine Months Ended
	March 31, 2010					March 31, 2009
			Per Share					Per Share
	Shares		Amount			Shares		Amount
Basic loss per share		112,340,362	$	(0.0070	)		47,074,322	$	(0.0712	)

During the period ended of March 31, 2025, and December 31, 2024, the Company did not issue any Series L Preferred Stock.

25As of March 31, 2025, and December 31, 2024, the Company had 1,000 shares of Series L Preferred Stock issued and outstanding, respectively.

~~Note~~Common ~~11 - Variable Interest Entities~~Stock

AtThe ~~June 30, 2009, the~~ Company ~~consolidated~~has ~~the~~authorized ~~balance sheets and operations of TJ YSLD~~600, ~~the VIE controlled under the May 30~~000,000 ~~2008~~common shares ~~MRL acquisition. On July 21, 2008, the Company completed the acquisition of NRL, and~~ with ~~the~~a ~~purchase~~par ~~the~~value ~~Company acquired control~~ of ~~Beijing Maihesi, another VIE~~$0.001 Onper November 28, 2008, the Company entered into and closed the Airline Advertising Acquisition Agreement with Well Chance, MRL, and the Music Radio Shareholders pursuant to which the Company acquired control of BJ YSLD, another VIEshare. ~~See Note 14 for acquisition details. TJ YSLD, BJ YSLD and Beijng Maihesi have been consolidated with the Company’s financial statements at June 30, 2009.~~

~~Termination~~On ~~Agreement~~April ~~with~~21, ~~respect~~2020, tothe Company issued 20,000,000 shares of Common Stock (the ~~Radio~~“Issuance ~~Frequency~~Shares”) FMto 90its CEO, Liu Zhongkuo at a purchase price of $0.5001 ~~and~~per FMIssuance ~~107~~Share.1 Mr. Liu paid for the Issuance Shares by forgiving $20,000 of debt owed to him by the Company.

On July 2012, ~~2009~~2022, ~~Beijing Maihesi, a company organized in~~ the ~~PRC and an affiliate of the~~ Company, entered into ana ~~agreement~~Share Exchange ~~(the “Termination~~ Agreement”) with ~~Beijing~~Wombat ~~Guoguang~~Australia ~~Guangrong~~Holdings ~~Advertising~~Pty ~~Co.,~~ Ltd. (“~~Guoguang~~Wombat”), pursuant to which ~~Beijing Maihesi and Guoguang terminated (i)~~ the ~~Exclusive~~Company ~~Advertising~~issued ~~Rights Agreement dated May 5~~2, ~~2008 by and between Beijing Maihesi and Guoguang~~000,000 ~~under~~shares of ~~which~~Common ~~Beijing~~Stock ~~Maihesi was originally granted~~ (the ~~exclusive~~“Acquisition ~~right~~Shares”) ~~to market and sell all broadcast advertising~~ in ~~connection~~exchange ~~with~~for ~~the~~100 ~~frequency~~% FMequity ~~90.5~~ownership ofstake ~~China Radio International~~ in ~~Beijing~~Wombat (the “~~Beijing Agency Agreement~~Acquisition”),. Following ~~and (ii)~~ the ~~Exclusive Advertising Rights Agreement dated August 4~~Acquisition, ~~2008 by and between Beijing Maihesi and Guoguang, under which Beijing Maihesi was originally granted~~ the ~~exclusive~~Company ~~right~~became ~~to market and sell all broadcast advertising in connection with~~ the ~~frequency~~100% FMequity ~~107.1~~holder ~~of China Radio International~~ in ~~Shenzhen (the “Shenzhen Agency Agreement”, collectively with the Beijing Agency Agreement, the “Agency Agreements”)~~Wombat.

~~According~~On toJune ~~the~~05, ~~Termination Agreement~~2024, ~~(i)~~the ~~Beijing~~Company ~~Maihesi~~issued ~~or its affiliate paid Guoguang RMB1~~35,~~150~~000,000 shares ~~($168,335)~~of asCommon ~~compensation~~Stock ~~for~~ (the ~~early~~“Issuance ~~termination of the Beijing Agency Agreement, (ii~~Shares”) ~~Beijing Maihesi agreed~~ to ~~forsake~~its ~~the deposits in the amount of RMB2~~director,~~760,000~~ ~~and~~Huei- ~~RMB1,050,000~~Ching ~~under~~HUANG ~~the~~at ~~Beijing~~a ~~Agency~~purchase ~~Agreement~~price ~~and~~of ~~Shenzhen Agency Agreement, respectively (which, using March 31, 2010 exchange rate, was~~ $~~403,788~~0.001 ~~and~~per ~~$153,615~~Issuance Share. ,Ms. ~~respectively),~~Huang ~~(iii)~~paid ~~Guoguang agreed to forsake the accrued cost~~ for the ~~advertising~~Issuance ~~minutes~~Shares ~~payable~~by toforgiving ~~Guoguang (RMB3,592,323, which, using March 31,2010 exchange rate, was~~ $~~525~~35,~~557~~000 ),of ~~and~~debt ~~(iv)~~owed ~~both Beijing Maihesi and Guoguang agreed~~ to ~~waive~~her ~~any~~by ~~claims and refrain from initiating any legal proceedings against~~ the ~~other party arising from or in connection with the terminated Agency Agreements~~Company. ~~In addition, the Termination Agreement contains other covenants, agreements and default and confidentiality provisions that the reader is encouraged to review.~~

InAs ~~connection with the termination~~ of ~~this~~March ~~VIE agreement~~31, ~~the Company recorded a net gain on disposal of VIE of $459~~2025,~~783~~ ~~during~~and ~~the~~December ~~nine months ended March~~ 31, ~~2010~~2024, ~~which was reduced by a loss on disposal related to~~ the Company ~~cash~~had ~~paid on consideration of $174~~70,~~239~~928,185 ~~and~~shares ~~loss on disposal~~ of anCommon ~~account~~Stock ~~receivable~~issued ~~balance~~and ~~due from Beijing Maihesi of $1~~outstanding,~~319,826~~ respectively.

~~Business~~Note 11 ~~Assignment with respect to the Radio Frequency FM 95.5~~ — Commitments and ~~FM 92.5~~contingencies

OnFrom time ~~July~~to 20time, ~~2009,~~the ~~Atis~~Group ~~had~~is ~~agreements~~subject ~~with TJ YSLD, with respect~~ to ~~the~~certain ~~exclusive~~legal ~~right~~proceedings, toclaims ~~market~~ and ~~sell~~disputes ~~all~~that ~~broadcast~~arise ~~advertising~~ in ~~connection with~~ the ~~frequencies~~ordinary FMcourse ~~92.5 and FM 95.5~~ of ~~China National Radio Station Music Radio in Tianjin and Xi’ an, respectively~~business. ~~To optimize~~ Although the ~~operations~~outcomes of ~~the~~these ~~Company~~legal ~~and~~proceedings ~~save~~cannot ~~administrative~~be ~~expenses~~predicted, the ~~Company~~Group ~~completed~~does anot ~~restructuring~~believe tothese ~~cause~~actions, in the ~~termination~~aggregate, ofwill ~~such~~have ~~agreement~~a ~~between~~material adverse ~~Atis~~impact ~~and~~on TJits ~~YSLD~~financial ~~and~~position, ~~the~~results ~~execution~~ of aoperations ~~new~~or ~~agreement~~liquidity. onAs ~~substantially~~of ~~the~~March ~~same~~31, ~~terms~~2025, ~~with~~and BJDecember ~~YSLD~~31, ~~as well as~~ 2024, the ~~termination~~Group ofhas ~~the~~no ~~related~~outstanding ~~VIE agreements with TJ YSLD~~litigation.

26Note 12 — Subsequent events

OnThe ~~July~~Group ~~20,~~has ~~2009,~~evaluated BJsubsequent ~~YSLD~~events ~~entered~~from ~~into~~March ~~a cooperation agreement (the “FM 95.5 Agency Agreement”) with Atis~~3l, ~~pursuant~~2025 to ~~which (i) BJ YSLD is granted exclusive right to market and sell all broadcast advertising in connection with~~ the date ~~frequency FM 95.5 of China National Radio Station Music Radio in Xi’an for a term commencing from June 16, 2009 and ending on December 31, 2010; (ii)~~ the ~~annual~~condensed ~~cost~~consolidated ~~for~~financial ~~the~~statements ~~advertising~~were ~~airtime~~issued ~~in the year of 2009~~ and ~~2010~~has isdetermined ~~RMB595,835 and~~that ~~RMB1.1~~there ~~million~~are ~~respectively (which,~~no ~~using~~items ~~March 31, 2010 exchange rate, is equal~~ to ~~$87,171~~disclose and $160,930 , respectively); (iii) BJ YSLD has the right of first refusal to renew the FM 95.5 Agency Agreement upon expiration; and (iv) BJ YSLD deposited RMB356,667 ($52,180). In addition, the FM 95.5 Agency Agreement contains other ~~covenants,~~than ~~agreements~~those disclosed ~~and~~elsewhere ~~default~~in ~~and~~this ~~confidentiality provisions that the reader is encouraged to review~~report.

BJ YSLD entered into a cooperation agreement (the “FM 92.5 Agency Agreement”) with Atis, pursuant to which (i) BJ YSLD is granted exclusive right to market and sell all broadcast advertising in connection with the frequency FM 92.5 of China National Radio Station Music Radio in Tianjin for a term commencing from June 15, 2009 and ending on December 31, 2010; (ii) the 12F-month period cost for advertising airtime is RMB2.5 million (which, using March 31, 2010 exchange rate, is equal to $365,750 ); (iii) BJ YSLD has the right of first refusal to renew the FM 92.5 Agency Agreement upon expiration; and (iv) BJ YSLD deposited RMB500,000 ($73,150 ). In addition, the FM 92.5 Agency Agreement contains other covenants, agreements and default and confidentiality provisions that the reader is encouraged to review.18

InITEM connection with the above-said restructuring, the Company disposed of the assets and liabilities of the historical TJ YSLD business and, accordingly, recorded a net gain on disposal of $119,084 during the nine months ended March 31, 2010, which was increased by a gain on disposal of an account payable balance due to TJ YSLD of $138,5422. ~~The~~MANAGEMENT’S ~~remaining~~DISCUSSION ~~assets~~AND ~~retained~~ANALYSIS byOF ~~the~~FINANCIAL ~~Company~~CONDITION ~~and~~AND ~~assigned~~RESULTS toOF ~~BJ YSLD after disposal is the intangible asset associated with the FM 92~~OPERATIONS.~~5 advertising rights and the exclusivity agreement, as discussed in Note 6.~~

~~Beijing~~The ~~Maihesi~~following management’s discussion and TJanalysis ~~YSLD~~of ~~had~~financial ~~been~~condition ~~consolidated~~and inresults ~~the~~of ~~Company’s~~operations ~~financial~~provides ~~statements~~information ~~through~~that ~~July~~management ~~20,~~believes ~~2009,~~is ~~and~~relevant ~~subsequent~~ to ~~the~~an ~~termination~~assessment and understanding of ~~the~~our ~~related~~plans ~~VIE~~and ~~agreements~~financial ~~with~~condition. ~~Beijing~~The ~~Maihesi~~following ~~and~~financial TJinformation ~~YSLD,~~is BJderived ~~YSLD~~from isour ~~the~~financial ~~only~~statements and ~~remaining~~should ~~VIE~~be ~~included~~read in ~~the~~conjunction ~~Company’s~~with such financial statements asand ofnotes ~~March~~thereto ~~31,~~set ~~2010~~forth elsewhere herein.

~~Note~~Use ~~12 -~~of ~~Stock Options and Warrants~~Terms

~~Stock~~Except ~~Options~~as otherwise indicated by the context and for the purposes of this report only, references in this report to “we,” “us,” “our,” the “Company,” “HAFG,” and “our company” refer to the consolidated operations of Holistic Asset Finance Group Co., Ltd., a Nevada corporation, and its subsidiary. “Common stock” refers to the Company’s common stock, par value $0.001 per share. “NT$” refers to New Taiwan dollars, the legal currency of Taiwan.

~~The~~Note ~~Company~~Regarding entered into an employment agreement with Mr. Jeffrey Dash on January 31, 2008. On January 31, 2008, Mr. Dash was appointed President and Chief Executive Officer of the Company. Pursuant to the employment agreement Mr. Dash was granted options to purchase 400,000 shares of the Company’s common stock at an exercise price of $2.50 per share. The options vest over 33 months, with 25% of the options vesting after the first three months and the remaining 75% of the options vesting equally every three months at a rate of 30,000 shares per three month. The fair value of the options was $120. The fair value was computed using the BlackForward-~~Scholes~~Looking model under the following assumptions: (1) expected life of three years; (2) volatility of 100%, (3) risk free interest of 4.5% and (4) dividend rate of 0%. On August 26, 2009, the Company reduced the exercise price of the options from $2.50 per share to $0.40 per share. The increase in fair value of the options was $34,600 is to be vested over the remaining 16 months of the option term and recognized in compensation expense accordingly. The new fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of three years; (2) volatility of 83%, (3) risk free interest of 4.5% and (4) dividend rate of 0%.Statements

27This report contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts are forward-looking statements. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about:

On● ~~May 19, 2008,~~ the ~~Company~~success ~~entered~~or ~~into~~failure ~~an employment agreement with Mr. William Lee. Effective June 2, 2008, Mr. Lee was appointed the Chief Operating Officer~~ of ~~the Company. Pursuant to the employment agreement, Mr. Lee was granted options to purchase 400,000 shares of the Company~~management’s ~~common~~efforts ~~stock~~to atimplement ~~an exercise price of $3.25 per share. The options vest over 33 months, with 12.5% of~~ the options vesting after the first three months and the remaining 87.5% of the options vesting equally every three months at a rate of 31,818 shares per three months. The fair value of the options was $783,280. The fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of three years; (2) volatility of 92%, (3) risk free interest of 4.5% and (4) dividend rate of 0%. On October 31, 2008, Mr. Lee left the Company~~. At that time of his departure from the Company he held 81,820 fully vested options and forfeited 318,180 options. The Company~~’s ~~board~~business ~~of directors agreed to grant Mr. Lee two years from the date of his departure to exercise the fully vested options.~~strategies;

On● ~~March 28, 2008,~~ the ~~Company~~ability ~~granted to each~~ of ~~two of its directors options to purchase 80,000 shares of~~ the Company’s ~~common stock with an exercise price of $2.50 per share. The options vest on a quarterly basis (in arrears) over 24 months commencing on the date of each director's appointment~~ to ~~the~~generate ~~board.~~sufficient ~~The~~cash ~~fair value of the options was $355,088. The fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of two years~~flows; (2) volatility of 90%, (3) risk free interest of 4.5% and (4) dividend rate of 0%. On August 26, 2009, the Company reduced the exercise price of the options from $2.50 per share to $0.40 per share. The increase in fair value of the options was $6,056 and was recognized in compensation expense during the nine months ended March 31, 2010 as they are fully vested as of this date. The new fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of two years; (2) volatility of 83%, (3) risk free interest of 4.5% and (4) dividend rate of 0%. On November 15, 2008, Richard Vogel resigned as a director of the Company. At the time of his resignation, he held 31,556 fully vested options and all were forfeited.

On● ~~May 19, 2008,~~ the ~~Company~~ability ~~granted options to another director to purchase 80,000 shares~~ of the Company’s ~~common~~to ~~stock~~compete with another ~~exercise~~companies ~~price of $3.70 per share. The options vest on a quarterly basis (~~in ~~arrears) over 24 months commencing on~~ the ~~date~~industries ofwhere the director's appointment to the board. The fair value of the options was $155,328. The fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of two years; (2) volatility of 96%, (3) risk free interest of 4.5% and (4) dividend rate of 0%. On August 26, 2009, the Company reduced the exercise price of the options from $3.70 per share to $0.40 per share. The increase in fair value of the options was $6,424 and was recognized in compensation expense during the nine months ended March 31, 2010 as they are fully vested as of this date. The new fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of two yearsoperates; ~~(2) volatility of 83%, (3) risk free interest of 4.5% and (4) dividend rate of 0%.~~

On● ~~August 26, 2009,~~ the ~~Company~~effect ~~granted options, under its stock option plan, to four employees to purchase 6,325,000 shares~~ of ~~the~~changing ~~Company’s~~economic ~~common~~conditions ~~stock~~impacting ~~with~~our an exercise price of $0.20 per share. Thirty percent of the options vest immediately, and the remaining options vest over 28 months. The fair value of the options was $964,563. The fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of three yearsoperations; ~~(2) volatility of 83%, (3) risk free interest of 4.5%~~ and ~~(4) dividend rate of 0%.~~

28● the ability of the Company to meet the other risks as described in the Company’s SEC filings.

~~Following~~In issome acases, ~~summary~~you ofcan ~~the~~identify ~~stock~~forward-looking statements ~~option~~by ~~activity~~terms ~~for~~such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the ~~nine~~negative ~~months~~of ~~ended~~these ~~March~~terms 31or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, ~~2010:~~uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under Item 1A. “Risk Factors” of our Form 10 filed on February 27, 2025. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance.

			Weighted		Aggregate
	Number of		Average		Intrinsic
	Options		Exercise Price		Value
Outstanding as of July 1, 2009	641,820	$	2.75	$	-
Granted	6,325,000		0.20		-
Forfeited	-		-		-
Exercised	-		-		-
Outstanding as of March 31, 2010	6,966,820	$	0.43	$	-
Exercisable options:
June 30, 2009	426,153	$	2.78	$	-
March 31, 2010	3,454,375	$	0.23	$	-

In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this report, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

~~Warrants~~The forward-looking statements made in this report relate only to events or information as of the date on which the statements are made in this report. Except as expressly required by the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

Under the loan agreement with RMK described in Note 8 at the closing of the share exchange agreement described in Note 1 the Company issued RMK a warrant to purchase 150,294 shares of the Company’s common stock. The warrant was exercisable upon issuance and is exercisable until the third anniversary of the issuance date of the warrant. The warrant exercise price is $2.50 per share. The relative fair value of the warrants was $108,261 and was determined using the Black-Scholes option pricing model and the following assumptions: term of three years, a risk free interest rate of 4.5%, and a dividend yield of 0% and volatility of 90%. Of the $375,733 proceeds from the loan, the fair value of the warrants are recorded as debt discounts and has been amortized over the term of the loan. On August 26, 2009, the Company reduced the exercise price of the warrants from $2.50 per share to $0.40 per share. The increase in fair value of the options was $9,499 and was recognized in interest expense during the nine months ended March 31, 2010. The new fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of 1.46 years; (2) volatility of 83%, (3) risk free interest of 4.5% and (4) dividend rate of 0%.

On March 30, 2008, and pursuant to the terms of the Kantor Loan and Blueday Loan described in Note 8, the Company issued to Mr. Kantor and Blueday warrants to purchase 40,000 and 50,000 shares of the Company's common stock, respectively, at an exercise price of $2.50 per share, subject to adjustments under the terms of the warrants. The warrants were exercisable upon issuance and until the third anniversary of the issuance date of the warrants. The warrants may be exercised in a cashless manner. The relative fair value of the warrants issued in connection with the Kantor Loan was $28,082 and was determined using the Black-Scholes option pricing model and the following assumptions: (1) term of three years, (2) a risk free interest rate of 4.5%, (3) a dividend yield of 0% and (4) volatility of 97%. Of the $100,000 proceeds from the loan, the fair value of the warrants is recorded as debt discounts and has been amortized over the term of the loan. The relative fair value of the warrants issued in connection with the Blueday Loan was $40,837 and was determined using the Black-Scholes option pricing model and the following assumptions: (a) term of three years, (b) a risk free interest rate of 4.5%, (c) a dividend yield of 0% and (d) volatility of 97%. Of the $250,000 proceeds from the Blueday note, the relative fair value of the warrants was recorded as debt discounts and has been amortized over the term of the loan. On August 26, 2009, the Company reduced the exercise price of the warrants from $2.50 per share to $0.40 per share. The increase in fair value of the options was $6,012 and was recognized in interest expense during the nine months ended March 31, 2010. The new fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of 1.59 years; (2) volatility of 83%, (3) risk free interest of 4.5% and (4) dividend rate of 0%.Overview

29Our Company, through our subsidiary Wombat Australia Holdings Pty Ltd, operates two business lines:

OnDigital ~~April~~Marketing ~~21, 2008,~~ and ~~pursuant~~Video ~~to the terms of a loan agreement with Newport Capital Group ("Newport"), the Company issued Newport a warrant to purchase 40,000 shares of the Company's common stock at an exercise price of $2~~Production.50 We ~~per~~offer ~~share,~~professional ~~subject~~social tomedia ~~adjustment~~digital ~~under~~marketing ~~the terms of the warrant. The warrant is exercisable upon issuance~~ and ~~until~~video ~~the~~production ~~third anniversary of the loan date. The warrant may be exercised in a cashless manner. The relative fair value of the warrant was $554~~services,~~536~~ ~~and~~focusing ~~was~~on ~~determined using~~ the ~~Black-Scholes option pricing model and the following assumptions: (1) term of four years~~Singapore, ~~(2)~~Hong aKong ~~risk free interest rate of 0.9%, (3) a dividend yield of 0%~~ and ~~(4)~~Taiwan ~~volatility of 96%. Of the $200,000 proceeds from the loan, the relative fair value of the warrant is recorded as a debt discount~~ markets and ~~has~~gradually ~~been~~expanding ~~amortized~~into ~~over~~other ~~the~~Asian ~~term~~markets. ofWe ~~the~~deliver ~~loan.~~tailored Inmarketing ~~addition,~~solutions anto ~~embedded~~help ~~beneficial~~brands ~~conversion~~accelerate ~~feature~~their ~~was~~market ~~recorded~~ presence in ~~accordance~~these ~~with~~regions ~~FASB ASC 815 “Derivatives~~ and ~~Hedging.”~~boost ~~The~~brand ~~relative~~exposure ~~fair~~through ~~value~~social ofvideo ~~the beneficial conversion feature was $44,626 and was classified in additional paid-in capital in the March 31, 2010 consolidated balance sheets~~production.

OnIn ~~July~~addition ~~1, 2008, the Company issued warrants~~ to ~~purchase~~content ~~600,000~~creation ~~shares~~and of production, the Company's ~~common~~offers ~~stock~~comprehensive toinformation ~~Maoming~~promotion ~~China~~and ~~Fund~~digital ~~("Maoming")~~campaign inoptimization ~~connection~~services. ~~with~~This aincludes ~~preferred stock placement that closed on~~ the ~~same~~development ~~date. The warrants are immediately exercisable at an exercise price~~ of ~~$2.50~~targeted advertising ~~per share until their expiration on June 30~~content, ~~2011~~media planning and ~~are exercisable on a cashless basis at any time after July 1~~placement, ~~2009~~ and ~~until June 30, 2011, if~~ the ~~common~~management ~~stock underlying the warrants has not been registered with the SEC by such date. The relative fair value~~ of ~~the 600,000 warrants issued with the Series A convertible preferred stock was $554,536. The relative fair value was computed using the Black~~performance-~~Scholes~~driven ~~model~~marketing ~~under~~campaigns—primarily ~~the~~across platforms ~~following~~such ~~assumptions:~~as ~~(1)~~Facebook ~~expected life of three years;~~ (2Meta) ~~volatility of 69%, (3) risk free interest of 2~~.9% and (4) dividend rate of $0%. In addition, since the Series A convertible preferred stock is convertible into shares of common stock at a one to one ratio, an embedded beneficial conversion feature was recorded as a discount to additional paid in capital in accordance with FASB ASC 815 “Derivatives and Hedging.” The intrinsic value of the beneficial conversion feature was $604,536. The beneficial conversion feature is considered a deemed dividend, but the Company has an accumulated deficit; therefore, the entry is not recorded as the accounting entry would be both a debit and a credit to additional paid in capital.

~~Between~~For ~~August 29, 2008 and June 23, 2009,~~ the ~~Company~~three ~~issued~~months ~~warrants~~ended toMarch ~~purchase 400~~31,~~000~~ ~~shares~~2025 ~~of the Company's common stock to Maoming in connection with a preferred stock placement that took place on the same date (see Note 13)~~ and ~~in connection with its preferred placement on July 1~~ 2024, ~~2008.~~our ~~The~~Digital ~~warrants~~Marketing ~~are~~and ~~immediately~~Video ~~exercisable~~Production atbusiness angenerated ~~exercise~~revenues ~~price~~ of $~~2.50 per share until their expiration on August 28~~263,638 ~~2011~~ and ~~were exercisable on a cashless basis at any time after August 29~~$39, ~~2009 and until August 28~~651, ~~2011~~respectively, ifaccounting ~~the~~for common stock underlying the warrants has not been registered with the SEC by such date. The relative fair value of the 400,000 warrants issued with the Series A convertible preferred stock was $189,670. The relative fair value was computed using the Black-Scholes model under the following assumptions: (1) expected life of 1.5 years; (2) volatility of 92100%, and ~~(3) risk free interest of 2~~98.464% ~~and (4) dividend rate~~ of ~~$0%.~~our Intotal addition, since this convertible preferred stock is convertible into shares of common stock at a one to one ratio, an embedded beneficial conversion feature would be calculated as a discount to additional paid in capital in accordance with FASB ASC 815 “Derivatives and Hedgingrevenues.” However, the conversion price on the issuance date was greater than the stock price on that date and thus no intrinsic value arose from the issuance of the convertible preferred shares. Therefore, no beneficial conversion feature was recognized on the Company’s accompanying consolidated balance sheets.

OnWellness ~~August~~Products ~~26, 2009, the Company reduced the exercise price of the warrants from $2~~Sale.50 ~~per~~We ~~share~~sell toAustralian-branded nutrition, ~~$0.40~~health, ~~per~~and ~~share.~~wellness ~~The~~products ~~increase~~ in ~~fair~~Taiwan. ~~value~~We ofprovide ~~the~~consumers ~~options~~with ~~was~~a ~~$71,100~~convenient ~~and~~shopping ~~was~~experience ~~recognized~~mainly inthrough ~~interest~~offline group-buying ~~expense~~activities. ~~during~~For the ~~six~~three months ended March 31, ~~2010.~~2025 ~~The~~and ~~new~~2024, ~~fair~~our ~~value~~Wellness ~~was~~Products ~~computed~~Sale ~~using~~business ~~the~~generated ~~Black-Scholes~~revenues ~~model~~of nil ~~under~~and ~~the~~$546, ~~following~~respectively, ~~assumptions:~~accounting ~~(1)~~for ~~expected~~nil ~~life~~and of 1.~~77 years; (2) volatility of 83~~36%, ~~(3) risk free interest~~ of ~~4.5%~~our ~~and~~total ~~(4) dividend rate of 0%~~revenues.

30Recent Developments

OnIn ~~November 28~~2025, ~~2008,~~ the Company ~~issued~~expanded ~~warrants~~its todigital ~~purchase~~service offerings ~~10,000,000~~by ~~shares~~launching ofa ~~the~~new ~~Company's~~advertising ~~common~~service ~~stock~~offering to ~~Mr.~~further Juenhance inits ~~connection~~capabilities ~~with the Airline Advertising Acquisition Agreement dated November 28, 2008 that gave effective control of BJ YSLD to Legend Media, Inc. See Note 14. The warrants were issued~~ in ~~two~~paid ~~tranches~~media ~~with~~and ~~5,000,000~~performance ~~warrants per tranche~~marketing. ~~Tranche~~ This 1new ~~warrants~~offering ~~are~~focuses ~~immediately exercisable at $0.40 per share until their expiration~~ on ~~November~~delivering ~~28,~~integrated ~~2011~~advertising ~~and~~solutions—including ~~are~~campaign ~~exercisable on a cashless basis at any time after November 28~~strategy, ~~2009~~media ~~and until November 28~~buying, 2011, if the common stock underlying the warrants has not been registered with the SEC by such date. The relative fair value of the 5,000,000 warrants issued in connection with the Airline Advertising Acquisition Agreement was $2,123,992. The relative fair value was computed using the Blackreal-Scholes model under the following assumptions: (1) expected life of three years; (2) volatility of 147%, (3) risk free interest of 4.5% and (4) dividend rate of $0%. The Tranche 2 warrants are immediately exercisable at $0.80 per share until their expiration on November 28, 2013 and are exercisable on a cashless basis at any time ~~after November 28~~performance tracking, ~~2009~~ and ~~until~~data-driven ~~November~~optimization—across ~~28,~~major ~~2013,~~digital ifplatforms ~~the common stock underlying the warrants has not been registered with the SEC by~~ such ~~date. The~~as ~~relative~~Facebook fair value of the 5,000,000 warrants issued with the Airline Advertising Acquisition Agreement was $2,263,931. The relative fair value was computed using the Black-Scholes model under the following assumptions: (1Meta) ~~expected life of five years; (2) volatility of 147%, (3) risk free interest of 4.5%~~ and ~~(4) dividend rate of $0%~~Google. ~~The Company recorded the relative fair value of the warrants as a deemed dividend related to pooling of subsidiary, resulting from the Airline Advertising Acquisition Agreement for BJ YSLD.~~

OnBuilding ~~December~~on ~~19, 2009,~~ the ~~AOU has been signed among certain major shareholders of the~~ Company~~. Pursuant to this AOU, the Company will issue to Mr. Ju warrants to purchase 3,930,836 shares of the Company~~’s ~~common~~existing ~~shares~~strengths in ~~for~~content ~~each~~creation ~~of the calendar years 2010~~ and ~~2011~~social ifmedia ~~the Company achieves a target number of RMB30~~marketing,~~000,000~~ ~~and~~this ~~RMB33,000,000~~development inenables ~~connection with~~ the ~~Xinhua Airline Magazine, respectively. Furthermore, the~~ Company ~~will~~to ~~issue~~offer ~~Mr. Ju warrants~~ end-to-end ~~purchase~~advertising ~~2,000,000~~services ~~shares~~that ofdrive measurable ~~the~~brand ~~Company’s~~growth, ~~common~~customer ~~shares~~acquisition, ifand ~~the~~return ~~Company~~on ~~signs~~ad anspend ~~exclusive~~for ~~agency~~clients ~~agreement~~targeting ~~with~~key ~~another~~Asian ~~magazine.~~markets Asincluding ~~of May 17~~Singapore, ~~2010~~Hong Kong, ~~none of the trigger events mentioned in the AOU have been achieved~~ and ~~no amounts are accrued in these financial statements~~Taiwan.

~~Note~~Principal ~~13 -~~Factors ~~Stockholders~~Affecting ~~Equity~~Our Financial Performance

~~Unregistered~~Our ~~Sale~~operating ofresults ~~Series~~are Aprimarily ~~Convertible~~affected by ~~Preferred~~the ~~Stock~~following factors:

On● ~~August~~our ~~29,~~ability ~~2008, the Company sold 625,000 shares of the Company's Series A convertible Stock preferred stock, and warrants~~ to ~~purchase~~acquire ~~300,000~~new ~~shares~~customers ofor ~~the~~retain ~~Company's~~existing common stock to Maoming for $1,500,000. Subsequently, on March 4, 2009, the Company sold 62,500 shares of the Company's Series A convertible Stock preferred stock, and warrants to purchase 30,000 shares of the Company's common stock to Maoming for $150,000. On April 14, the Company sold 104,167 shares of the Company's Series A convertible Stock preferred stock, and warrants to purchase 50,000 shares of the Company's common stock to Maoming for $250,000. On June 23, 2009, the Company sold 41,667 shares of the Company's Series A convertible Stock preferred stock, and warrants to purchase 20,000 shares of the Company's common stock to Maoming for $100,000. The sale of the Series A convertible preferred stock and warrants to Maoming occurred pursuant to the terms of a Securities Purchase Agreement (the "Maoming Purchase Agreement") dated March 31, 2008. The transaction contemplated under Maoming Purchase Agreement closed in connection with the Company’s previously announced acquisition of its second media advertising business operating in the China NRL.customers;

~~The~~● ~~warrants~~our ~~issued~~ability to ~~Maoming~~offer ~~are~~competitive ~~immediately~~pricing ~~exercisable~~for atour ~~$2.50~~products ~~per share until their expiration on August 28, 2011~~ and are exercisable on a cashless basis at any time after August 29, 2009 until August 28, 2011 if the common stock underlying the warrants has not been registered with the SEC by such date. See Note 12. On August 26, 2009, the Company reduced the exercise price of the warrants from $2.50 per share to $0.40 per share.services;

31● our ability to provide competitive products and services;

~~Common~~● ~~Shares~~industry ~~Issued~~demand ~~for~~and ~~Investment~~competition; ~~in News Radio, Limited~~and

On● ~~July~~market ~~21,~~conditions 2008, the Company closed the acquisition of NRL, pursuant to the terms of the News Radio Share Purchase Agreement that the Company entered into on June 4, 2008. As part of the purchase price, the Company delivered to the News Radio Shareholders shares of the Company's common stock, with an aggregate value of RMB 2,000,000. On July 21, 2008, the acquisition was closed and ~~the~~our ~~amount~~market ~~was settled at 104,427 common shares with a value of $293,800 based on the currency exchange rate used~~position. ~~See Note 14 for acquisition of NRL.~~

~~Series B Convertible Preferred Stock Issued in connection with BJ YSLD and Conversion to Common Stock~~3

AsResults ~~consideration for the acquisition~~ of BJ YSLD, the Company issued 5,033,680 shares of its newly created Series B convertible preferred stock to Mr. Ju, the beneficial owner of BJ YSLD. Each share of the Series B convertible preferred stock was initially convertible into 20 shares of common stock, or 100,673,600 shares of common stock, representing 90.6% of the issued and outstanding common stock of the Company on an as-converted basis (not including the Company’s outstanding Series A convertible preferred stock, warrants or options). Under the terms of the Series B convertible preferred stock, all shares of this Series B convertible preferred stock are to be automatically converted into fully paid and non assessable shares of common stock on the date that the Company amends its Articles of Incorporation such that there is a sufficient number of shares of common stock authorized by the Company to allow full conversion of all outstanding shares of the Series B convertible preferred stock into shares of common stock. Further, the holders of the Series B convertible preferred stock are entitled to the same voting rights as if they were common stockholders of the Company, based on the number of shares of common stock into which the holder’s aggregate number of shares of the Series B convertible preferred stock are convertible. The Series B convertible preferred stock was converted into common stock on December 21, 2008, the date that the Company amended its Articles of Incorporation and authorized a sufficient number of shares to satisfy the conversion. The Series B convertible preferred stock converted into 100,673,600 shares of common stock.Operations

~~Deemed~~Comparison ~~Dividend~~of ~~Arising~~Three ~~from~~Months ~~the~~Ended ~~Acquisition~~March 31, ~~Agreement~~2025 ~~for~~and ~~the effective control of BJ YSLD~~2024

The ~~Company~~following ~~recorded~~table ~~the~~sets ~~Airline~~forth ~~Advertising~~key ~~Acquisition Agreement, pursuant to which the Company obtained effective control~~ components of BJour ~~YSLD,~~results ~~as a deemed dividend~~ of ~~$51,561,046,~~operations ~~which~~during ~~represents~~ the ~~$51,343,536~~three ~~value~~months ofended ~~the~~March ~~100~~31,~~673,600~~ ~~shares~~2025 ofand ~~common stock into which the Series B Preferred Stock was convertible~~2024, ~~less~~together ~~the~~with ~~net book value of BJ YSLD net liabilities of $217,510 on~~ the ~~date~~corresponding ~~of acquisition. The closing gave Legend Media effective control of BJ YSLD, a PRC~~period-~~based company that has indirect exclusive advertising agency rights for Xinhua Airline Magazine, the airline magazine for Hainan Airline Group~~over-period changes.

Dividend Paid to Owner for Account Balances Retained After Acquisition of BJ YSLD

	Three Months Ended March 31, 2025			Three Months Ended March 31, 2024			% Change
Revenue	$	263,638		$	40,197			555.9	%
Cost of Revenue		(225,287	)		(3,172	)		7,002.4	%
Gross Profit		38,351			37,025			3.6	%
General and Administrative Expenses		(53,606	)		(30,613	)		75.1	%
Operating (Loss)/Profit		(15,255	)		6,412			N/A
Total Other Income, net		2,453			136			1,703.7	%
(Loss)/Profit Before Income Taxes		(12,802	)		6,548			N/A
Income Tax Expenses		-			(3,162	)		N/A
Net (Loss)/Profit		(12,802	)		3,386			N/A
Comprehensive (Loss)/Income	$	(12,956	)	$	3,233			N/A

Pursuant to the Airline Advertising Acquisition Agreement, the HTLG balances for cash, accounts receivable, related party payables remained with HTLG after the HTLG airline business became controlled by BJ YSLD on November 30, 2008. The net debit balance of the transaction was $1,322,226 which was recorded against retained earnings as a dividend. On March 31, 2009, the $1,322,226 dividend was reduced by $429,957 to $892,510 to reflect the tax obligations of HTLG that were to remain with HTLG. The $429,957 credit to retained earnings was offset against accrued liabilities and payables.Revenue

32Revenue increased significantly by $223,441, or approximately 555.9%, to $263,638 for the three months ended March 31, 2025, from $40,197 for the same period in 2024. The increase was primarily driven by the rapid growth of the Company’s newly launched advertising service offering, which contributed significantly to service revenue. The expansion into integrated digital advertising solutions attracted new clients and generated higher campaign volumes, reflecting strong market demand and effective execution.

~~Note~~Cost ~~14 -~~of ~~Acquisition~~Revenue

~~Acquisition~~Cost of ~~NRL~~revenue increased by $222,115 to $225,287 for the three months ended March 31, 2025, from $3,172 in the same period of 2024. This increase reflects higher direct cost associated with the growth in revenue.

OnGross July 21, 2008, the Company had Well Chance purchase 100% of the common stock of NRL. The transaction occurred pursuant to the terms of the News Radio Share Purchase Agreement that the Company entered into on June 4, 2008 with Well Chance and NRL. As a result of the acquisition, the Company obtained control of the following subsidiaries of the Company:Profit

•Gross ~~News~~profit ~~Radio~~slightly ~~Limited~~increased ~~(100%-owned)~~to •$38,351 ~~CRI~~for the ~~News~~three ~~Radio~~months ~~Limited~~ended ~~(100%-owned)~~March •31, ~~Legend~~2025, ~~Media~~compared ~~(Beijing)~~to ~~Information~~$37,025 ~~and~~for ~~Technology~~the Cosame period in 2024. Despite the substantial growth in revenue, ~~Ltd.~~gross profit ~~(100%-owned)~~margin •declined ~~Beijing~~due ~~Maihesi~~to ~~International~~a ~~Advertising~~shift Coin revenue mix and higher direct costs associated with the expansion of the Company’s advertising services. In the first quarter, ~~Ltd.~~a ~~(100%-controlled~~larger asproportion ~~VIE)~~of revenue was generated from the newly launched advertising service offering, which generally yields lower margins than the Company’s traditional digital marketing services.

AtOperating July 21, 2008, the Company delivered to the News Radio Shareholders shares of the Company's common stock, with an aggregate value of RMB2,000,000 (equivalent of $287,728 based on the currency exchange rate on June 5, 2008). The amount was settled at $293,800 based on the currency exchange rate on July 21, 2008. The purchase price was based on the weighted average trading price of the common stock for the 30 trading days immediately proceeding June 4, 2008 (68,388 shares were actually delivered). In addition, (i) within 28 days after closing of the purchase of NRL, the Company is obligated to pay RMB5,250,000 (equivalent of $755,287 based on the currency exchange rate on June 5, 2008). Subsequently on July 21, 2008, the acquisition was closed and settled at $771,225, pay RMB1,600,000 (equivalent of $230,182 based on the currency exchange rate on June 5, 2008.) Subsequently on July 21, 2008, the acquisition was closed and settled at $235,040 based on the currency exchange rate on that date. As of December 31, 2008, the Company delivered the 104,427 shares associated with the News Radio Share Purchase Agreement.Expenses

~~During~~General ~~the~~and ~~year~~administrative ~~ended~~expenses ~~June~~increased by 30$22, ~~2009~~993, ~~the~~or ~~Company~~75.1%, ~~paid~~to $~~749~~53,~~990~~606 ~~towards~~for the ~~purchase~~three ofmonths ~~NRL,~~ended ~~and at~~ March 31, ~~2010~~2025, ~~and~~from ~~June~~ $30,613 ~~2009,~~in the ~~Company~~same ~~recognized~~period ~~the~~of ~~remaining~~2024. ~~$256,275~~The inincrease ~~Related~~was mainly ~~Party~~attributable ~~Payables~~to inhigher ~~its~~lease ~~consolidated~~expenses ~~balance~~and ~~sheets,~~professional ~~respectively~~fees incurred during the period to support expanded operations.

InNet addition, the News Radio Shareholders will receive additional, performance-based consideration within 30 days of each of year-end 2008, 2009 and 2010 based on the net revenues and net income for such periods of Beijing Maihesi, as follows: (aLoss) if for the seven-month period ending December 31, 2008, net revenues equal or exceed 90% of RMB 12,000,000 and net income equals or exceeds RMB 0, the News Radio Shareholders will receive shares of the Company’s common stock with an aggregate value of RMB 2,500,000 ($359,660 based on the currency exchange rate on June 5, 2008) with a price per share equal to the weighted average trading price for the 30 trading days immediately preceding the date such amount becomes payable; (b) if for the 12-month period ending December 31, 2009, net revenues equal or exceed 80% of RMB 30,000,000 and net income equals or exceeds RMB 6,000,000, the News Radio Shareholders will receive RMB 4,000,000 ($575,457 based on the currency exchange rate on June 5, 2008) in the form of cash, the number of shares of the Company’s common stock as determined by a price per share equal to the weighted average trading price for the 30 trading days immediately preceding the date such amount becomes payable, or a combination of the two, at the election of the News Radio Shareholders and (c) if for the 12-month period ending December 31, 2010, net revenues equal or exceed 80% of RMB 34,000,000 and net income equals or exceeds RMB 8,000,000, the News Radio Shareholders will receive RMB 8,000,000 ($1,150,914 based on the currency exchange rate on June 5, 2008) in the form of cash, the number of shares of the Company’s common stock as determined by a price per share equal to the weighted average trading price for the 30 trading days immediately preceding the date such amount becomes payable, or a combination of the two, at the election of the News Radio Shareholders. Pursuant to the terms of the News Radio Share Purchase Agreement, Well Chance and the News Radio Shareholders will mutually select an impartial auditor to audit and determine, according to US GAAP, the Beijing Maihesi net revenues and net income for the relevant time-periods. For the seven-month period from the acquisition date to December 31, 2008, the net revenues of Beijing Maihesi were RMB 3,334,050 and net loss was RMB 6,131,817. For the 12-month period ending December 31, 2009, the net revenues of Beijing Maihesi were RMB 2,228,565 and net loss was RMB 9,146,532. None of the above performance target was achieved so there were neither cash paid nor shares issued accordingly./Profit

33As a result of the factors described above, we recorded a net loss of $12,802 for the three months ended March 31, 2025, compared to a net profit of $3,386 for the same period in 2024. The decrease was primarily due to increased operating expenses and cost of revenue outpacing revenue growth.

~~After the closing of the News Radio Share Purchase Agreement the Company became the indirect beneficiary of several agreements entered into by the Company's affiliates.~~4

InLiquidity ~~connection with the closing of the News Radio Share Purchase Agreement, Legend Media (Beijing) Information~~ and ~~Technology~~Capital ~~Co.,~~Resources Ltd. ("Legend Media IT"), wholly owned by CRI News Radio Limited, a Hong Kong Company, entered into an Exclusive Technical, Operational, Business Consulting and Services Agreement (the "News Radio Service Agreement") with Beijing Maihesi and the News Radio Shareholders pursuant to which Legend Media IT became the exclusive provider of technical, operational, business consulting and other services to Beijing Maihesi in exchange for a service fee and bonus as described in more detail in the News Radio Service Agreement. The term of the News Radio Service Agreement is 10 years with an automatic renewal for another 10-year term unless a party provides written notice that it does not wish to renew the News Radio Service Agreement. Beijing Maihesi agreed to several important covenants in the News Radio Service Agreement, including (but not limited to), agreeing not to appoint any member of Beijing Maihesis senior management without Legend Media IT's consent and to grant Legend Media IT certain informational rights. In addition, in the News Radio Service Agreement, each of the News Radio Shareholders (a) pledged his 100% equity interest in Beijing Maihesi. to Legend Media IT as a guarantee of Beijing Maihesi fulfillment of its obligations under the News Radio Service Agreement; (b) granted to Legend Media IT or its designee an option to purchase any or all of his equity interest in Beijing Maihesi at nominal value to the extent permitted applicable laws and regulations; and (c) agreed not to dispose of or encumber any of his equity interest in Beijing Maihesi without Legend Media IT’s prior written consent.

OnAs ~~July~~of ~~20,~~March ~~2009~~31, 2025, ~~the~~we ~~Company~~had ~~terminated~~cash ~~its~~and ~~radio~~cash ~~advertising~~equivalents ~~agreements~~of ~~with~~$2,185, ~~respect~~compared ~~NRL~~to $17,409 as of December 31, 2024. ~~See~~The ~~Note~~significant 11decrease ~~for~~in ~~disposal~~cash ofwas ~~the~~primarily due ~~VIE~~to ~~associated~~operating expenses incurred during the period, with ~~NRL~~limited inflows from accounts receivable or related parties.

~~Acquisition~~Our ~~Agreement~~current ~~for~~assets totaled ~~the~~$4,020 ~~effective~~as ~~control~~ of BJMarch ~~YSLD~~31, 2025, representing a decrease from $29,161 at December 31, 2024. This decline was mainly driven by reductions in cash and cash equivalents, accounts receivable (which dropped to nil), and prepayments and other receivables. Additionally, amounts due from related parties decreased from $742 to nil, further reducing current asset levels.

OnCurrent ~~November~~liabilities amounted ~~28,~~to ~~2008~~$245,351 ~~the~~as ~~Company~~of ~~entered~~March ~~into and closed the Airline Advertising Acquisition Agreement with Well Chance~~31, ~~MRL~~2025, ~~and~~a ~~the~~slight ~~Music~~decrease ~~Radio~~from ~~Shareholders.~~$257,753 ~~Pursuant~~at toDecember ~~the Airline Advertising Acquisition Agreement~~31, ~~the~~2024. ~~Company~~The ~~acquired~~decrease ~~control~~was ~~over~~mainly BJdue ~~YSLD~~to ~~and caused~~ the ~~contribution~~ settlement of ~~the~~advance ~~airline~~from ~~advertising~~customers ~~business of HTLG to BJ YSLD. BJ YSLD~~ and ~~HTLG~~reductions ~~were~~in ~~under~~other ~~common control. In exchange for the acquisition of control~~payables, ~~the~~partially ~~Company~~offset ~~issued~~by ~~5,033,680~~an ~~shares~~increase ofin ~~its~~amounts ~~newly-created~~due ~~Series B convertible Preferred Stock,~~ to ~~the~~related ~~Music Radio Shareholders and two warrants to purchase an aggregate of 10~~parties,~~000,000~~ ~~shares~~which rose offrom ~~the Company's common stock~~$187,311 to ~~Mr. Ju. As a result of the acquisition~~$219, ~~the Company obtained 100% control of BJ YSLD~~626.

InAs determining the consideration to be paid in the Airline Advertising Acquisition Agreement the Company reviewed and compared publicly available selected financial data and stock trading prices for public companies chosen based on their common participation in the Chinese advertising and media industry, and conducted a ~~discounted cash flow analysis. Applying the conclusions drawn therefrom~~result, ~~the~~we ~~number~~had ~~of shares of Series B convertible preferred stock issued in the Airline Advertising Acquisition Agreement was calculated based on an aggregate purchase price of RMB275,000,000,~~ a ~~currency~~net ~~exchange~~current ~~rate~~liability of ~~RMB6.829 to~~ $1241,331 ~~and~~as ~~a per share issue price~~ of 20March 31, ~~times~~2025, ~~the~~compared ~~greater~~to ~~of (~~a) ~~75%~~net ofcurrent ~~the~~liability ~~weighted average trading price~~ of ~~one share of common stock for the 15 trading days ended on the third day preceding closing, and (b)~~ $~~0.40. Because 75% of the weighted average trading price for the common stock during the period was $0.3440~~228,592 ~~the~~at per share issue price used was $0.40. As more fully described below, each share of Series B convertible preferred stock is initially convertible into 20 shares of common stock or an aggregate of 100,673,600 shares of common stock representing approximately 90.6% of the issued and outstanding common stock on an as-converted basis (not including the Company's outstanding Series A convertible preferred stock warrants or options). The Series B convertible preferred stock converted into 100,673,600 shares of common stock on December 2131, ~~2008~~2024.

34In addition, the Company had an accumulated deficit on March 31, 2025 of $71,050,817 and on December 31, 2024 of $71,038,015. The Company incurred net loss of $12,802 and had net cash used in operating activities of $15,351 for the three months ended March 31, 2025.

~~One~~These ofconditions raised ~~the~~substantial ~~warrants~~doubt ~~issued~~about ~~Mr. Ju upon closing of~~ the ~~Airline~~Company’s ~~Advertising~~ability ~~Acquisition~~to ~~Agreement~~continue isas ~~immediately~~a ~~exercisable~~going ~~for 5,000,000 shares of common stock at an exercise price of $0~~concern.40 ~~per~~The ~~share~~Company’s ~~until~~ability ~~November~~to ~~28,~~continue ~~2011 (the "First Expiration Date") and is exercisable on~~ as a ~~cashless~~going ~~basis~~concern atwill ~~any~~require ~~time after November 28, 2009 and until~~ the ~~First~~Company ~~Expiration~~to ~~Date~~obtain ifadditional ~~the~~financing ~~shares of common stock underlying the warrant have not been registered with the SEC by such date. The other warrant issued~~ to ~~Mr.~~fund Juits ~~upon closing of the Airline Advertising Acquisition Agreement is immediately exercisable for 5,000,000 shares of common stock at an exercise price of $0~~operations.80 ~~per~~In ~~share~~assessing ~~until November 28, 2013 (~~the ~~"Second~~going ~~Expiration Date") and is exercisable on a cashless basis at any time after November 28~~concern, ~~2009 and until~~ the ~~Second Expiration Date if the shares~~ board of ~~common~~directors ~~stock~~has ~~underlying the warrant have not been registered with the SEC by such date.~~considered:

Upon the closing of the Airline Advertising Acquisition Agreement the Company became the beneficiary of several agreements. As a condition to closing, Legend Media IT entered into an Exclusive Technical, Operational, Business Consulting and Services Agreement (the “Airline Advertising Acquisition Services Agreement”) with BJ YSLD, a company owned by Xue Wei and Ju Bingzhen, the father of Mr. Ju. Ju Bingzhen and Xue Wei are also parties to the Airline Advertising Acquisition Services Agreement. Pursuant to the Airline Advertising Acquisition Services Agreement, Legend Media IT became the exclusive provider of technical, operational, business consulting and other services to BJ YSLD in exchange for a service fee and bonus as described in more detail in the Airline Advertising Acquisition Services Agreement. The financial results of BJ YSLD will be consolidated with the Company's financial statements. The term of the Airline Advertising Acquisition Services Agreement is 10 years with an automatic renewal for another 10-~~year~~Additional term unless either party provides written notice to the other party that it does not wish to renew the Airline Advertising Acquisition Services Agreement. BJ YSLD agreed to several important covenants in the Airline Advertising Acquisition Services Agreement, including (but not limited to), agreeing not to appoint any member of BJ YSLD’s senior management without Legend Media IT’s consent and to grant Legend Media IT certain informational rights. In addition, pursuant to the Airline Advertising Acquisition Services Agreement, each of Ju Bingzhen and Xue Wei: (a)agreed to pledge his/her equity financing ~~interests~~from ~~(representing~~major ~~100%~~shareholders of the equity interest) in BJ YSLD to Legend Media IT as a guarantee of BJ YSLD’s fulfillment of its obligations under the Airline Advertising Acquisition Services Agreement; (b) granted to Legend Media IT or ~~its~~financial ~~designee~~support anfrom ~~option to purchase any or all of their equity interest in BJ YSLD at nominal value to~~ the ~~extent permitted under applicable laws and regulations; and (c) agreed not to dispose of or encumber any of their equity interest in BJ YSLD without Legend Media IT~~Company’s ~~prior~~related ~~written consent~~parties.

35-Based on the business plans of the Company, the management is actively developing new business that will generate revenue and cash inflows to the Company.

~~Legend~~The ~~Media~~board ITof ~~also~~directors believes ~~entered into~~ the ~~Music~~Company ~~Radio~~has ~~Operating~~adequate ~~Agreement~~financial ~~with~~resources ~~BJ YSLD and the Music Radio Shareholders~~ to ~~secure~~continue ~~the~~in ~~performance~~operational ofexistence ~~the~~for ~~parties' obligations under~~ the ~~Airline~~foreseeable ~~Advertising Acquisition Services Agreement. Pursuant to the terms of the Music Radio Operating Agreement: (a) BJ YSLD~~future, ~~Ju Bingzhen and Xue Wei agreed not to, or to cause BJ YSLD not to, conduct any transactions which may have~~ a ~~material~~period ~~adverse~~of ~~effect~~at least on12 BJmonths YSLD's assets, obligations, rights or operations without Legend Media IT’s prior written consent; (b) BJ YSLD, Ju Bingzhen and Xue Wei granted Legend Media IT certain informational rights; (c) BJ YSLD, Ju Bingzhen and Xue Wei agreed to (i) submit BJ YSLD’s annual budget and monthly cash requirement plans to Legend Media IT for approval, (ii) obtain Legend Media’s approval for withdrawals from ~~BJ YSLD’s bank accounts, and (iii) accept corporate policies and guidance from Legend Media IT with respect to~~ the ~~appointment~~date ~~and dismissal~~ of ~~senior~~this ~~management,~~report. ~~daily operations and management and financial administrative systems; (d) BJ YSLD~~Accordingly, ~~Ju Bingzhen and Xue Wei agreed to appoint or cause to be appointed~~ the ~~individuals~~going ~~nominated~~concern bybasis ~~Legend Media IT to become directors, general manager, chief financial officer or other senior management~~ of BJaccounting ~~YSLD~~continues ~~and (e) each of Ju Bingzhen and Xue Wei entered into an Authorization Agreement (the "Music Radio Authorization Agreement") pursuant~~ to ~~which~~be ~~each~~used ~~authorized~~in ~~Jeffrey Dash,~~ the ~~Company's Chief Financial Officer, to exercise his voting rights with respect to shares~~ preparation of ~~BJ YSLD at BJ YSLD’s stockholders' meetings. The term of~~ the ~~Music~~condensed ~~Radio~~consolidated ~~Operating~~financial ~~Agreement~~statements ~~is 10 years with an automatic renewal~~ for ~~another 10-year term unless any party provides written notice to~~ the ~~other~~three ~~parties~~months ~~that~~ended March it31, ~~does not wish to renew the Music Radio Operating Agreement~~2025. ~~The term of each of the Music Radio Authorization Agreements is 10 years but it terminates automatically upon the earlier termination of the Airline Advertising Acquisition Services Agreement.~~

~~For~~Summary ~~the purpose~~ of ~~this~~Cash acquisition and pursuant to the Airline Advertising Acquisition Agreement, the accounts receivable and accounts payable of HTLG related to the airline advertising business that occurred on or preceding November 30, 2008 shall remain with HTLG. The transaction is between parties under common control and has been accounted for in a manner similar to a pooling of interests. As a result of the transaction described above, the historical financial statements presented are a combination of BJ YSLD and the airline magazine advertising business of HTLG, and the financial statements of the Company have been restated to report the results of operations for the period in which the transfer occurs as though the transfer of net assets or exchange of equity interests had occurred at July 1, 2007. This required the historical financial statements of the Company be restated to reflect the consolidation of BJ YSLD under a method similar to a pooling of interests. The Company recorded the acquisition as a deemed dividend of $51,561,046, which represents the $51,343,536 value of the 100,673,600 common stock into which the Series B convertible preferred stock was convertible, less the net book value of BJ YSLD net liability of $217,510 on the date of acquisition. The closing of the Airline Advertising Acquisition Agreement gives the Company effective control of BJ YSLD, a PRC-based company that has the indirect exclusive advertising agency rights for Xinhua Airline Magazine, the airline magazine for Hainan Airline Group.Flow

~~Note~~The 15following -table ~~Commitments~~provides detailed information about our net cash flow for the three months ended March 31, 2025 and ~~Contingencies~~2024:

Lease commitments

	Three Months Ended
	March 31, 2025			March 31, 2024
Net cash (used in)/provided by operating activities	$	(15,351	)	$	9,662
Net cash (used in)/investing activities		-			-
Net cash provided by (used in)/financing activities		-			-
Net (decrease)/ increase in cash		(15,351	)		9,662
Effect of exchange rates on cash		127			(439	)
Cash at beginning of year		17,409			10,618
Cash at end of period	$	2,185		$	19,841

~~At March 31, 2010, total future minimum lease payments under operating leases were as follows:~~5

	Amount
12 months ending March 31, 2011	$	273,429
12 months ending March 31, 2012		193,535
12 months ending March 31, 2013		182,763
12 months ending March 31, 2014		182,763
12 months ending March 31, 2015		182,763
Thereafter		137,072
Total	$	1,152,325

Off-Balance Sheet Arrangements

~~During~~We ~~the~~have ~~three~~not ~~months~~entered ~~ended~~into ~~March~~any ~~31,~~other ~~2010~~financial guarantees ~~and~~or ~~2009,~~other ~~the~~commitments ~~Company~~to ~~had~~guarantee ~~rent~~the ~~expense~~payment obligations of ~~$85,261~~ any third parties. We have not entered into any derivative contracts that are indexed to our shares and ~~$124~~classified as stockholder’s equity or that are not reflected in our consolidated financial statements. Furthermore,~~223,~~ ~~during~~we ~~the~~do ~~nine~~not ~~months~~have ~~ended~~any ~~March~~retained 31or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity ~~2010~~or ~~and~~market ~~2009~~risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, ~~the~~market ~~Company~~risk ~~had~~or ~~rent~~credit ~~expense~~support ofto ~~$284~~us or engages in leasing,~~639~~ hedging or research and ~~$347,275~~development services with us.

36Critical Accounting Policies and Estimates

~~Contingent~~Basis ~~liability~~of presentation

AsThe ~~described~~accompanying incondensed ~~Note~~consolidated ~~12,~~financial statements onhave ~~December 19, 2009, the AOU has~~ been ~~signed~~prepared ~~among~~in ~~certain~~accordance ~~major~~with ~~shareholders~~accounting ofprinciples ~~the~~generally ~~Company.~~accepted ~~Pursuant~~in ~~to this AOU,~~ the ~~Company~~United ~~will~~States ~~issue~~of toAmerica Mr(“U.S. GAAP”) Juand ~~warrants~~pursuant to ~~purchase 3,930,836 shares of~~ the ~~Company’s~~rules ~~common shares for each of the calendar years 2010~~ and ~~2011~~regulations ~~if the Company achieves a target number~~ of ~~RMB30,000,000 and RMB33,000,000 in connection with~~ the ~~Xinhua Airline Magazine, respectively~~U. ~~Furthermore, the Company will issue Mr~~S. JuSecurities ~~warrants~~Exchange toCommission ~~purchase 2,000,000 shares of the Company’s common shares if the Company signs an exclusive agency agreement with another magazine~~(“SEC”). ~~As of May 17, 2010, none of the trigger events mentioned in the AOU have been achieved.~~

~~Note~~Principles ~~16 -~~of ~~Related~~Consolidation ~~Party Transactions~~

~~Significant~~The ~~balances~~condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions ~~with~~and ~~related~~balances ~~parties~~among ~~are~~the asCompany ~~follows:~~and its subsidiaries have been eliminated upon consolidation.

~~a. Amounts~~Use ~~due~~of ~~to/due from related parties~~estimates

Related Party	March 31,		June 30,
Related Party Payable			(audited)
Mr. Ju and affiliates (including his wife, Wei Xue)	$	3,087,947	$	1,673,756	1
Maoming		169,729		-	4
	$	3,257,676	$	1,673,756
Related Party Receivable
HTLG		2,498,155		341,232	2
TJ YSLD		6,570		-
	$	2,504,725	$	341,232
Related Party Note Payable
RMK		375,733		375,733	3
	$	375,733	$	375,733
Accrued interest payable
RMK		559,741		360,990
	$	559,741	$	360,990

The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the condensed consolidated financial statements and are adjusted to reflect actual experience when necessary. Actual results could differ from these estimates.

~~Book~~Recently ~~values~~Issued ofAccounting ~~the above related party payables and receivables conform to fair values as they are due on demand.~~Pronouncements Not Yet Adopted

~~1 Mr.~~The JuCompany ~~and~~considers ~~his wife Ms. Xue Wei, are~~ the ~~major~~applicability ~~beneficial~~and ~~owners~~ impact of ~~the~~all ~~Company’s~~accounting ~~common~~standards ~~stock. Mr.~~updates ~~Ju and Ms~~(“ASUs”). ~~Xue~~Management ~~Wei~~periodically ~~are~~reviews ~~also~~new ~~controlling~~accounting ~~shareholders~~standards ofthat ~~HTLG~~are ~~and BJ YSLD~~issued.

~~2 HTLG~~In isJune 2016, ~~controlled~~the byFASB Mrissued ASU No. 2016-13, “Financial JuInstruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires the Company to measure and ~~his~~recognize ~~wife~~expected credit losses for financial assets held and not accounted for at fair value through net income. In November 2018, MsApril 2019 and May 2019, the FASB issued ASU No. 2018-19, ~~Xue~~“Codification Improvements ~~Wei~~to Topic 326, Financial Instruments — Credit Losses,” “ASU No. ~~Further~~ 2019-04, ~~pursuant~~Codification Improvements to ~~the~~Topic 326, ~~Airline~~Financial ~~Advertising~~Instruments — Credit ~~Acquisition~~Losses,” ~~Agreement~~“Topic 815, ~~dated~~Derivatives ~~November~~and Hedging, 28and Topic 825, ~~2008~~Financial Instruments,” and “ASU No. 2019-05, Financial Instruments — Credit Losses (Topic 326): Targeted Transition Relief,” which provided additional implementation guidance on the ~~Company~~previously ~~gained~~issued ASU. The ASU is effective ~~control~~for ~~over~~fiscal years beginning after Dec. 15, 2019 for public business entities that meet the ~~airline~~definition of ~~magazine~~an ~~advertising~~SEC ~~product~~filer, ~~line~~excluding entities eligible to be SRCs as defined by the SEC. All other entities, ASU No. 2016-13 is effective for fiscal years beginning after December 15, 2022. The adoption of ~~HTLG~~this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

~~3 RMK~~In isOctober 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a ~~fund~~business ~~controlled~~combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a ~~shareholder~~business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, ~~who~~2023, isand ~~also~~are applied prospectively to business combinations that occur after the ~~CEO~~effective date. The adoption of ~~ARC~~this ~~Investment~~guidance ~~Partners,~~did not have a ~~shareholder~~material impact ofon the Company’s condensed consolidated financial statements.

~~4 Maoming is a shareholder of the Company.~~6

37In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2023. The Company adopted ASU 2023-07 as of January 1, 2024. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

b.In ~~Expenses~~December ~~paid~~2023, bythe FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures” which is intended to simplify various aspects related ~~parties~~to onaccounting ~~behalf~~for income taxes. ASU 2023-09 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The amendments in ASU 2023-09 are effective for public business entities for fiscal years beginning after December 15, 2024, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company: is currently evaluating the adoption of this guidance whether or not a material impact on the Company’s condensed consolidated financial statements.

	Three Months Ended							Nine Months Ended
	March 31,				March 31,			March 31,			March 31,
Party	2010				2009			2010			2009
	(unaudited)				(unaudited)			(unaudited)			(unaudited)
Mr. Ju and affiliates (including his wife, Ms. Xue Wei)		$	53,278	1		$	24,233		$	208,169		$	24,233
HTLG			951,349	2			192,076			2,689,985			693,713
Maoming			59,430	3			-			59,430			-

In March 2024, the FASB issued ASU 2024-01, “Compensation — Stock Compensation (Topic 718) — Scope Application of Profits Interest and Similar Awards” (“ASU 2024-01”), which intends to improve clarity and operability without changing the existing guidance. ASU 2024-01 provides an illustrative example intended to demonstrate how entities that account for profits interest and similar awards would determine whether a profits interest award should be accounted for in accordance with Topic 718. Entities can apply the guidance either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. ASU 2024-01 is effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the adoption of this guidance whether or not a material impact on the Company’s condensed consolidated financial statements.

~~1 Includes~~In ~~$45~~March 2024,~~690~~ ~~for~~the anFASB ~~office~~issued inASU 2024-02, “Codification ~~Beijing~~Improvements — Amendments to Remove References to the Concept Statements” (“ASU 2024-02”). ASU 2024-02 contains amendments to the FASB Accounting Standards Codification that remove references to various FASB Concepts Statements. In most instances, the ~~Company~~references ~~rents~~are ~~from~~extraneous Mrand not required to understand or apply the guidance. ~~Ju;~~In other instances, the ~~rent~~references were ~~per~~used ~~month~~in prior Statements to provide guidance in certain topical areas. ASU 2024-02 is $effective for fiscal years beginning after December 15,~~230~~ ~~which~~2024. Early adoption is ~~based~~permitted. The Company is currently evaluating the adoption of this guidance whether or not a material impact on ~~fair~~the ~~market~~Company’s ~~value~~condensed consolidated financial statements.

~~2 Comprises~~The ~~rent~~Company does not believe other recently issued but not yet effective accounting standards, ~~commissions~~if currently adopted, would have a material effect on the Company’s condensed consolidated balance sheets, statements of operations and ~~media~~comprehensive ~~related~~(loss)/income ~~expenses~~and statements of cash flows.

~~3 Comprises fees for professional services.~~7

cITEM 3. ~~Short~~QUANTITATIVE ~~term~~AND ~~loans~~QUALITATIVE orDISCLOSURES ~~advances~~ABOUT toMARKET ~~the Company to assist with working capital shortfalls:~~RISK.

	Three Months Ended				Nine Months Ended
	March 31,		March 31,		March 31,		March 31,
Party	2010		2009		2010		2009
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Mr. Ju and affiliates (including his wife, Ms.Xue Wei)	$	585,200	$	17,568	$	1,487,060	$	17,568

Not applicable.

dITEM 4. ~~Cash~~CONTROLS ~~collected~~AND ~~on behalf of the Company:~~PROCEDURES.

	Three Months Ended						Nine Months Ended
	March 31,			March 31,			March 31,			March 31,
Party	2010			2009			2010			2009
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
HTLG		$	421,321		$	486,043		$	1,402,051		$	486,043
TJ YSLD			6,570			-			6,570			-

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e)) under the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified in the Commission’s rules and forms. ~~Interest~~Disclosure ~~accrued~~controls onand ~~loans:~~procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

	Three Months Ended					Nine Months Ended
	March 31,			March 31,		March 31,		March 31,
Party	2010			2009		2010		2009
	(unaudited)			(unaudited)		(unaudited)		(unaudited)
RMK	$	65,458	1	$	66,186	$	198,751	$	198,557

Pursuant to Rule 13a-15(b) under the Exchange Act, the Company carried out an evaluation with the participation of the Company’s management, including the Company’s chief executive officer (“CEO”) and the Company’s chief financial officer (“CFO”), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of March 31, 2025. Based upon that evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures were effective at a reasonable assurance level as of March 31, 2025.

1.Due ~~Accrued~~to ~~interest~~the ~~relates~~recent effectiveness of our Form 10 filed on February 27, 2025, we have not yet been required to ~~the~~file ~~RMK~~an ~~loan~~annual ~~note~~report and, ~~see~~accordingly, ~~also~~are ~~Note~~not 8required to provide a report on management’s assessment of internal control over financial reporting.

38Changes in Internal Control Over Financial Reporting

~~Note~~There 17were –no ~~Income~~changes ~~Taxes~~in our internal controls over financial reporting during the quarter ended March 31, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

As income tax is not calculated on a consolidated basis the individual entities may be subject to tax in cases where the group is not profitable. Pursuant to the law of the Company’s Chinese entities are subject to 25% tax. During the nine months period ended March 31, 2010 and 2009, one of the Company’s Chinese entities recognized a tax liability of $415,053 and $502,661, respectively.8

~~The~~PART Company adopted the provisions of FASB ASC 740 “Income Taxes.” ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FASB ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and the transition. The Company’s adoption of FASB ASC 740 had no impact on the Company’s beginning retained earnings, balance sheets, or statements of operations.II

~~The~~OTHER ~~following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the three months ended March 31, 2010 and 2009:~~INFORMATION

	2010			2009
	Unaudited			Unaudited
Statutory rate		34	%		(34	%)
Tax rate difference		(9	%)		9	%
Valuation allowance		0	%		0	%
Tax for prior year		0	%		0	%
Effect of losses in other group companies		(57	%)		6	%
Tax per financial statement		32	%		(19	%)

ITEM 1. LEGAL PROCEEDINGS.

~~The~~From ~~following~~time ~~table~~to ~~reconciles~~time, we become involved in various lawsuits and legal proceedings which arise in the Uordinary course of business.S. ~~statutory~~However, ~~rates~~litigation is subject to ~~the~~inherent ~~Company’s~~uncertainties, and ~~effective~~an ~~tax~~adverse ~~rate~~result ~~for~~in ~~the~~these ~~nine~~or ~~months~~other ~~ended~~matters ~~March~~may 31arise from time to time that may harm our business. We are not currently aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, ~~2010~~financial ~~and~~condition ~~2009:~~or operating results.

	2010			2009
	Unaudited			Unaudited
Statutory rate		(34	%)		(34	%)
Tax rate difference		9	%		9	%
Valuation allowance		0	%		0	%
Tax for prior year		0	%		0	%
Effect of losses in other group companies		(86	%)		7	%
Tax per financial statement		(111	%)		(18	%)

ITEM 1A. RISK FACTORS.

~~Note~~Not ~~18 – Segment Information~~applicable.

~~Based~~ITEM ~~on FASB ASC 280 “Segment Reporting,” the Company identified one operating segment~~2. ~~The~~UNREGISTERED ~~Company~~SALES isOF ~~only~~EQUITY ~~able~~SECURITIES toAND ~~disaggregate~~USE ~~revenue~~OF ~~and cost of revenue data by product line~~PROCEEDS. Further disaggregation is impracticable, because the Company’s customers and distribution methods overlap and management reviews its business as a single operating segment. Assets overlap between the two product lines as well. Thus, discrete financial information is not available by more than one operating segment.

39Unregistered Sales of Equity Securities

~~Note~~There ~~19-~~were ~~Subsequent~~no ~~Events~~unregistered sales of equity securities during the period covered by this report.

~~None.~~Purchases of Equity Securities

40No repurchases of our common stock were made during the three months ended March 31, 2025.

~~Item~~ITEM 23. ~~Management’s~~ ~~Discussion~~DEFAULTS ~~and~~UPON ~~Analysis~~SENIOR ~~of Financial Condition and Results of Operations~~SECURITIES.

~~Special Note Regarding Forward-Looking Statements~~None.

~~This~~ITEM ~~Quarterly Report on Form 10-Q and the documents we incorporate by reference herein include forward-looking statements~~4. ~~All~~MINE ~~statements~~SAFETY other than statements of historical facts contained in this Form 10-Q and the documents we incorporate by reference, including statements regarding our future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statementsDISCLOSURES. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

~~These~~Not forward-looking statements are subject to a number of risks, uncertainties and assumptions described in Part II Item 1A under the caption “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Qapplicable. In addition, our past results of operations do not necessarily indicate our future results. New risk factors emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any risk factor, or combination of risk factors, may cause actual results to differ materially from those contained in any forward-looking statements.

~~Except~~ITEM as otherwise required by applicable laws, we undertake no obligation to publicly update or revise any forward-looking statements or the risk factors described in this Quarterly Report on Form 10-Q or in the documents we incorporate by reference, whether as a result of new information, future events, changed circumstances or any other reason after the date of this Quarterly Report on Form 10-Q5. ~~You~~OTHER ~~should not rely upon forward-looking statements as predictions of future events or performance~~INFORMATION. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

Securities Trading Plans of Directors and Executive ~~Overview~~Officers

~~Legend~~None ~~Media,~~of ~~formerly~~our ~~known~~directors asor ~~Noble Quests~~“officers,” as ~~Inc.,~~defined ~~was~~in ~~organized~~Rule as16a-1(f) aunder ~~Nevada~~the ~~corporation~~Exchange onAct, ~~March~~adopted ~~16,~~or ~~1998,~~terminated toa ~~sell~~Rule ~~multi~~10b5-~~media~~1 ~~marketing~~trading ~~services~~plan ~~and~~or ~~other~~arrangement ~~related~~or ~~services~~a tonon-Rule ~~network~~10b5-1 trading ~~marketing~~plan ~~groups.~~or ~~Specifically~~arrangement, weas ~~assisted~~defined ~~network marketers~~ in ~~using~~Item ~~marketing~~408 ~~tools~~of ~~such~~Regulation asS-K, ~~public~~during ~~relations,~~the ~~advertising,~~fiscal ~~direct~~quarter ~~mail,~~ended ~~collateral~~March ~~development~~31, ~~electronic communications and promotion tools to increase product and service awareness~~2025.

OnITEM January 31, 2008, the Company entered into a Share Exchange Agreement with Well Chance and Well Chance's sole shareholder, which was accounted for as a reverse acquisition under the purchase method because the Well Chance shareholder obtained control of the Company6. ~~Accordingly, the share exchange was recorded as a recapitalization of Well Chance, with Well Chance being treated as the continuing entity~~EXHIBITS.

~~Well~~The ~~Chance~~following ~~was~~exhibits ~~incorporated~~are ~~under~~filed ~~the laws of the British Virgin Islands~~ as anpart ~~International Business Company on February 22, 2005. Well Chance was formed to create a business that principally engaged in the development and management~~ of athis report ~~technology~~or ~~platform~~incorporated ~~that~~by ~~deploys advertisements across its various advertising media.~~reference:

Exhibit No.		Description
31.1*		Certifications of Principal Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certifications of Principal Financial and Accounting Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certifications of Principal Executive Officer furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**		Certifications of Principal Financial and Accounting Officer furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

We* ~~expanded~~Filed our business in February 2008 to focus on building a consumer advertising network in the PRC focused on the Chinese radio advertising and air travel based advertising . We conduct our business operations through our 80% owned subsidiary Legend (Beijing) Consulting Co., Ltd. and our wholly owned subsidiary Legend (Beijing) Information and Technology Co., Ltd., each of which are incorporated under the laws of the PRC.herewith

As** ofFurnished February 12, 2010, we secured the exclusive rights to 39,420 minutes of radio advertising annually in Tianjin and Xi’an. The Company also has rights to sell advertising content for an airline magazine which has the potential to reach 20 million Chinese consumers. Management has identified several other opportunities to acquire additional advertising rights and expects continued expansion of air travel and radio advertising assets as well as other targeted media platforms in China.herewith

~~Critical Accounting Policies and Estimates~~9

While our significant accounting policies are more fully described in Note 2 to our consolidated financial statements in this Quarterly Report on Form 10-Q, we believe that the accounting policies described below are the most critical to aid you in fully understanding and evaluating this management discussion and analysis.SIGNATURES

~~Going~~Pursuant ~~Concern~~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.

The accompanying consolidated financial statements were prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements for the three months and nine months ended March 31, 2010, the Company had a net income of $652,836 and a net loss of $790,181, respectively, and has a working capital deficit of $1,009,922 as of March 31, 2010. The working capital deficit includes $3,257,676 of related party payables and $2,504,725 of related party receivables.

Date: May 23, 2025	Holistic Asset Finance Group Co., Ltd.

	/s/ Yang Hsiao-Wen
	Name:	Yang Hsiao-Wen
	Title:	Chief Executive Officer
		(Principal Executive Officer)

	/s/ Li Chunguang
	Name:	Li Chunguang
	Title:	Chief Financial Officer
		(Principal Financial and Accounting Officer)

As further described in Note 8, on January 31, 2008, in connection with the Share Exchange Agreement discussed under Note 1, Legend Media entered into a loan agreement with RMK Emerging Growth Opportunity Fund LP (“RMK”) pursuant to which Well Chance had the right to borrow $375,733 from RMK as a short-term bridge loan. The due date on this loan was February 10, 2009. The principal amount of $375,733 is currently outstanding and is classified as a related party note payable. The accrued interest balance for this loan is $559,741 as of March 31 2010, which is classified as accrued interest. On November 25, 2009, RMK issued notice to the Company requiring immediate repayment of the loan. The Company is working with RMK to extend the note, but no outcome has been reached. RMK is a fund controlled by a shareholder who is also the CEO of ARC Investment Partners, LLC, a shareholder of the Company. See Note 16.

~~As further described in Note 1, Legend Media has effective control of BJ YSLD.~~ The ~~majority~~balance of Legend Media’s revenues are derived from BJ YSLD’s indirect exclusive advertising agency rights for Xinhua Airline Magazine. The previous exclusive advertising agency rights agreement for Xinhua Airline Magazine (the “Airline Advertising Agency Agreement”) expired on March 31, 2010. Due to the lack of sufficient cash flow generated from the business of the Company, it is ~~unable~~prepayment ~~to come up with the funds needed~~ for ~~the~~an ~~renewal~~operating ~~of this Airline Advertising Agency Agreement~~lease. Pursuant to AOU entered into among certain major shareholders of the Company on December 19, 2009, Mr. Ju, the CEO of the Company, has personally secured the financing necessary and caused such Airline Advertising Agency Agreement be temporarily entered between HTLG and the media company. The Company is currently attempting to raise capital to repay Mr. Ju the above 0001367993 false Q1 -said personal financing. Upon the repayment of such personal financing and subject to other terms of the AOU, Mr. Ju will cause the Airline Advertising Agency Agreement be assigned to BJ YSLD. 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Further, if capital is not available from the market, significant~~ iso4217:USD iso4217:USD xbrli:shares ~~would have to be issued to Mr. Ju in accordance with the AOU, who provided the capital necessary to secure the Airline Advertising Agency Agreement.~~ xbrli:pure iso4217:AUD iso4217:TWD

These factors among others may indicate the Company may be unable to continue as a going concern for a reasonable period of time.

Use of Estimates

The preparation of financial statements in conformity with United States generally accepted accounting principles (“USGAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Areas that require estimates and assumptions include valuation of accounts receivable and determination of useful lives of property and equipment.

Variable Interest Entities

In January 2003, the FASB issued Statement of Financial Accounting Standards Board Interpretation FSB ASC 810-10-05-8, "Consolidation of VIEs.” ASC 810-10-05-8 states that in general, a VIE is a corporation, partnership, limited liability corporation, trust or any other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations.

On May 30, 2008, we purchased 80% of the common stock of Legend Media Tianjin Investment Company Limited, and on July 21, 2008, we purchased 100% of the common stock of NRL. Additionally, on November 28, 2008, we entered into and closed the Airline Advertising Acquisition Agreement with Well Chance, MRL, and the Music Radio Shareholders, pursuant to which we acquired control of BJ YSLD, another variable interest entity. Due to certain restrictions imposed upon foreign direct investment and ownership of advertising companies in PRC, we structured Legend Media Tianjin Investment Company Limited and NRL transactions to comply with such restrictions, and we acquired control of TJ YSLD and Beijing Maihesi (through the purchase of NRL).

The principal regulations governing foreign ownership in the advertising industry in China include:

· The Catalogue for Guiding Foreign Investment in Industry (2007); and · The Administrative Regulations on Foreign-invested Advertising Enterprises (2004).

These regulations set the guidelines by which foreign entities can directly invest in the advertising industry. The regulations require foreign entities that directly invest in the China advertising industry to have at least two years of direct operations in the advertising industry outside of China. Further, since December 10, 2005, 100% ownership in Chinese advertising companies is allowed, but the foreign company must have at least three years of direct operations in the advertising industry outside of China.

Because we have not been involved in advertising outside of China for the required number of years, our domestic PRC operating subsidiaries, which are considered foreign-invested, are currently ineligible to apply for the required advertising services licenses in China. Our PRC operating affiliates hold the requisite licenses to provide advertising services in China and they are owned or controlled by PRC citizens designated by us. Our radio advertising business operates in China though contractual arrangements with consolidated entities in China. Until the July 20, 2009 termination of the VIE agreements with TJ YSLD and Beijing Maihesi, we and our PRC subsidiaries entered into contractual arrangements with TJ YSLD, Beijing Maihesi and BJ YSLD as well as their respective shareholders under which:

· We have been able to exert significant control over significant decisions about the activities of TJ YSLD, Beijing Maihesi and BJ YSLD, · A substantial portion of the economic benefits and risks of the operations of TJ YSLD, Beijing Maihesi and BJ YSLD were transferred to us through a revenue assignment agreement, and · The equity owner of TJ YSLD, Beijing Maihesi and BJ YSLD has not had the obligation to absorb the losses of TJ YSLD Beijing Maihesi or BJ YSLD.

As we have been able to exert significant control over the PRC operating affiliates and a substantial portion of the economic benefits and risks have been transferred to us, we have determined that the advertising entities, TJ YSLD, Beijing Maihesi and BJ YSLD meet the definition of a VIE through July 20, 2009, and subsequent to the July 20, 2009 termination of the TJ YSLD and Beijing Maihesi agreements, BJ YSLD meets the definition of a VIE. Further, we are considered to be the primary beneficiary of the risks and benefits of equity ownership of TJ YSLD, Beijing Maihesi and BJ YSLD and thus have consolidated this entity in our accompanying financial statements through July 20, 2009 and BJ YSLD as of March 31, 2010.

Impairment of long-lived assets and definite-lived intangible assets

We apply the provisions of FASB ASC 360-10, “Property, Plant, and Equipment”, which established a “primary asset” approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long-lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Revenue Recognition

Our revenue recognition policies comply with SEC Staff Accounting Bulletin (“SAB”) 104. We purchase (i) advertising inventory in the form of advertising airtime, the unit being minutes, from radio stations and (ii) advertising pages from airline magazines. We then distribute these minutes and pages under various sales agreements. We recognize advertising revenue over the term of each sales agreement, provided evidence of an arrangement exists, the fees are fixed or determinable and collection of the resulting receivable is reasonably assured. We recognize deferred revenue when cash has been received on a sales agreement, but the revenue has not yet been earned. Under these policies, no revenue is recognized unless persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collection is reasonably assured. Barter advertising revenues and the offsetting expense are recognized at the fair value of the advertising as determined by similar cash transactions. Barter revenue for the three months ended March 31, 2010 and 2009 was $799,385 and $729,557, respectively. Barter revenue for the nine months ended March 31, 2010 and 2009 was $2,466,742 and $1,955,962, respectively. Barter expense for the three months ended March 31, 2010 and 2009 was $147,206 and $407,119, respectively. Barter expense for the nine months ended March 31, 2010 and 2009 was $1,356,428 and $954,796, respectively. Under PRC regulations, we must pay certain taxes on revenues generated. These taxes include:

· Business tax: 5% of revenues generated net of fees paid to advertising agencies and media companies for services and advertising inventory; · Construction tax: 3% of revenues generated net of fees paid to advertising agencies and media companies for services and advertising inventory; · Education tax: 7% of the business tax; · Urban development tax: 3% of the business tax; and · Flood insurance tax: 1% of the business tax.

We recognize these taxes in cost of revenue in the period incurred.

Cost of Revenue

We expense advertising costs monthly according to the terms of the underlying contracts. The contract is expensed evenly over the term of the agreement from the date advertising is first expected to take place. As the advertising inventory does not carry forward, all minutes are expensed whether sold or not.

Foreign Currency Transactions and Comprehensive Income

US GAAP requires recognized revenue, expenses, gains and losses are included in net income. Certain statements, however, require entities to report specific changes in assets and liabilities, such as gain or loss on foreign currency translation, as a separate component of stockholders’ equity. Such items, along with net income, are components of comprehensive income. Translation gains of $19,281 and $24,646 at March 31, 2010 and June 30, 2009, respectively, are classified as an item of other comprehensive income in the stockholders’ equity section of the consolidated balance sheets.

Recent Pronouncements

In June, 2009, the FASB issued SFAS No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140” (“SFAS No.166”). This statement removes the concept of a qualifying special-purpose entity Statement 140 and removes the exception from applying Interpretation No. 46 (revised December 2003), Consolidation of Variable Interest Entities, to qualifying special-purpose entities. SFAS No. 166 has not yet been codified and in accordance with ASC 105, remains authoritative guidance until such time that it is integrated in the FASB ASC. SFAS No. 166 is effective for financial asset transfers occurring after the beginning of an entity’s first fiscal year that begins after November 15, 2009 and early adoption is prohibited. The adoption of this amendment will have no material effect on the Company’s financial condition or results of operations.

In June 2009, the FASB issued SFAS No. 167, Amendments to FASB Interpretation No. 46(R) (“SFAS No. 167”), which amends the consolidation guidance applicable to variable interest entities. The amendments affect the overall consolidation analysis under FASB ASC 810, Consolidation and require an enterprise to perform an analysis to determine whether the enterprise’s variable interest or interests give it a controlling financial interest in a variable interest entity. SFAS No. 167 has not yet been codified and in accordance with ASC 105, remains authoritative guidance until such time that it is integrated in the FASB ASC. SFAS No. 167 is effective as of the beginning of the first fiscal year that begins after November 15, 2009, early adoption is prohibited. The adoption of this amendment will have no material effect on the Company’s financial condition or results of operations.

In June 2009, the FASB issued SFAS No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162, which is codified in FASB ASC 105, Generally Accepted Accounting Principles (“ASC 105”). ASC 105 establishes the Codification as the source of authoritative GAAP in the United States (the “GAAP hierarchy”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The Codification carries the same level of authority and the GAAP hierarchy will be modified to include only two levels of GAAP, authoritative and non-authoritative. ASC 105 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. The adoption of ASC 105 has had no material effect on the Company’s financial condition or results of operations.

In July 2009, the FASB ratified the consensus reached by EITF (Emerging Issues Task Force) issued EITF No. 09-1, (ASC Topic 470) “Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance” (“EITF 09-1”). The provisions of EITF 09-1, clarify the accounting treatment and disclosure of share-lending arrangements that are classified as equity in the financial statements of the share lender. An example of a share-lending arrangement is an agreement between the Company (share lender) and an investment bank (share borrower) which allows the investment bank to use the loaned shares to enter into equity derivative contracts with investors. EITF 09-1 is effective for fiscal years that begin on or after December 15, 2009 and requires retrospective application for all arrangements outstanding as of the beginning of fiscal years beginning on or after December 15, 2009. Share-lending arrangements that have been terminated as a result of counterparty default prior to December 15, 2009, but for which the entity has not reached a final settlement as of December 15, 2009 are within the scope for share-lending arrangements entered into on or after the beginning of the first reporting period that begins on or after June 15, 2009. The Company does not expect the provisions of EITF 09-1 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In September 2009, the FASB issued ASU 2009-12, Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). This ASU provides amendments to Topic 820 for the fair value measurement of investments in certain entities that calculate net asset value per share (or its equivalent). It is effective for interim and annual periods ending after December 15, 2009. Early application is permitted in financial statements for earlier interim and annual periods that have not been issued. The Company does not expect the provisions of ASU 2009-12 to have a material effect on the financial position, results of operations or cash flows of the Company.

In October 2009, the FASB issued ASU 2009-13, Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements. This update addressed the accounting for multiple-deliverable arrangements to enable vendors to account for products or services (deliverables) separately rather than a combined unit and will be separated in more circumstances that under existing US GAAP. This ASU eliminated that residual method of allocation for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect the provisions of ASU 2009-13 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In October 2009, the FASB issued ASU 2009-14, Software (Topic 985): Certain Revenue Arrangements That Include Software Elements. This ASU changed the accounting model for revenue arrangements that include both tangible products and software elements for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect the provisions of ASU 2009-14 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In October 2009, the FASB issued ASU 2009-15, Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance or Other Financing. This ASU amends the FASB Accounting Standard Codification for EITF 09-1. At the date of issuance, a share-lending arrangement entered into on an entity’s own shares in contemplation of a convertible debt offering or other financing is required to be measured at fair value and recognized as issuance cost in the financial statements of the entity. ASU No. 2009-15 is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. This ASU is effective for interim or annual periods beginning on or after June 15, 2009, for share-lending arrangements entered into in those periods. Arrangements that have been terminated as a result of counterparty default prior to the effective date of this Issue but for which the entity had not reached a final settlement as of the effective date are within the scope of this ASU. The Company does not expect the provisions of ASU 2009-15 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In December 2009, the FASB issued ASU 2009-16, Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets, codifies SFAS No. 166, Accounting for Transfers of Financial Assets, which is a revision to Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities. ASU No. 2009-16 eliminates the concept of a “qualifying special-purpose entity” from Statement No.140 and removes the exception from applying FASB Interpretation (FIN) No. 46 (revised December 2003), Consolidation of Variable Interest Entities, to qualifying special-purpose entities. As a result, most securitization entities that previously met the requirements of a qualifying special-purpose entity under Statement No. 140 that are variable interest entities (VIEs) are now required to be evaluated under the revised guidance in the amendment to FIN 46(R). The Company does not expect the provisions of ASU 2009-16 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In December 2009, the FASB issued ASU 2009-17, Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with VIEs, codifies Statement No. 167, Amendments to FASB Interpretation No. 46(R). Among other provisions, this ASU amends FIN 46(R) to require an enterprise to perform an analysis to determine whether the enterprise’s variable interest or interests give it a controlling financial interest in a VIE. This analysis identifies the primary beneficiary of a VIE as the enterprise that has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance, and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. Additionally, ASU No. 2009-17 requires an enterprise to assess whether it has an implicit financial responsibility to ensure that a VIE operates as designed when determining whether it has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance. The Company does not expect the provisions of ASU 2009-17 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January 2010, the FASB issued ASU 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force). This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and 260 for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the provisions of ASU 2010-01 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January 2010, the FASB issued Accounting Standards Update (ASU) 2010-02, Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary. This amendment to Topic 810 clarifies, but does not change, the scope of current US GAAP. It clarifies the decrease in ownership provisions of Subtopic 810-10 and removes the potential conflict between guidance in that Subtopic and asset de-recognition and gain or loss recognition guidance that may exist in other US GAAP. An entity will be required to follow the amended guidance beginning in the period that it first adopts SFAS 160 (now included in Subtopic 810-10). For those entities that already adopted SFAS 160, the amendments are effective at the beginning of the first interim or annual reporting period ending on or after December 15, 2009. The amendments should be applied retrospectively to the first period that an entity adopted SFAS 160. The Company does not expect the provisions of ASU 2010-02 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January, 2010, the FASB issued ASU 2010-3—Extractive Activities—Oil and Gas (Topic 932): Oil and Gas Reserve Estimation and Disclosures. This article discusses the ASU’s key provisions and changes in practice. As stated in the adopting release of the SEC Final Rule, application was contingent on the FASB conforming its standards to the requirements of the SEC Final Rule. ASU 2010-3 is effective for annual periods ending on or after March 31, 2010 and is applied prospectively as a change in estimate. However, entities that became subject to the disclosure requirements of Topic 932 solely due to the change to the definition of significant oil and gas producing activities are permitted to apply the disclosure provisions of Topic 932 in annual periods beginning after March 31, 2010.The Company does not expect the provisions of ASU 2010-3 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January, 2010, the FASB issued ASU 2010-04, Accounting for Various Topics—Technical Corrections to SEC Paragraphs. The Company does not expect the provisions of ASU 2010-4 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January, 2010, the FASB issued ASU 2010-05 Compensation - Stock Compensation (Topic 718): Escrowed Share Arrangements and the Presumption of Compensation. This ASU codifies Emerging Issues Task Force Topic D-110, “Escrowed Share Arrangements and the Presumption of Compensation,” which was issued on June 18, 2009 to clarify SEC staff views on overcoming the presumption that for certain shareholders escrowed share arrangements represent compensation. Topic D-110 concludes that when evaluating whether the presumption of compensation has been overcome, registrants should consider the substance of the arrangement, including whether the arrangement was entered into for purposes unrelated to, and not contingent upon, continued employment. The SEC staff believes that an escrowed share arrangement in which the shares are automatically forfeited if employment terminates is compensation. The Company does not expect the provisions of ASU 2010-5 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January, 2010, the FASB issued ASU 2010-06 Fair Value Measurements and Disclosures (Topic 820): Improving Disclosures about Fair Value Measurements, to enhance the usefulness of fair value measurements. The amended guidance requires both the disaggregation of information in certain existing disclosures, as well as the inclusion of more robust disclosures about valuation techniques and inputs to recurring and nonrecurring fair value measurements. The Company does not expect the provisions of ASU 2010-6 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In January, 2010, the FASB issued ASU 2010-07 Not-for-Profit Entities (Topic 958): Not-for-Profit Entities: Mergers and Acquisitions. Statement 164 is effective for mergers that occur on or after the beginning of an initial reporting period beginning after December 15, 2009. It is effective for acquisitions occurring on or after the beginning of the first annual reporting period beginning on or after December 15, 2009 (January 1, 2010 for a calendar-year entity). Application of the Statement’s provisions to mergers or acquisitions before those dates is prohibited. The Company does not expect the provisions of ASU 2010-7 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In February, 2010, the FASB issued ASU 2010-08—Technical Corrections to Various Topics. The Company does not expect the provisions of ASU 2010-8 to have a material effect on the financial position, results of operations, or cash flows of the Company. The Company does not expect the provisions of ASU 2010-8 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In February, 2010, the FASB issued Accounting Standards Update (ASU) 2010-09, Subsequent Events (Topic 855) – Amendments to Certain Recognition and Disclosure Requirements. Per this ASU, an SEC filer would no longer be required to disclose the date through which subsequent events have been evaluated. The ASU also refines the scope of the reissuance disclosure requirements to include revised financial statements only. The Company does not expect the provisions of ASU 2010-9 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In March, 2010, the FASB issued Accounting Standards Update No. 2010-10, Consolidation (Topic 810): Amendments for Certain Investment Funds, which defers the effective date of the amendments to the consolidation requirements made by FASB Statement 167 to a reporting entity’s interest in certain types of entities. The Update also clarifies other aspects of the Statement 167 amendments. As a result of the deferral, a reporting entity will not be required to apply the Statement 167 amendments to the Subtopic 810-10 consolidation requirements to its interest in an entity that meets the criteria to qualify for the deferral. This Update clarifies how a related party’s interests in an entity should be considered when evaluating the criteria for determining whether a decision maker or service provider fee represents a variable interest. In addition, the Update also clarifies that a quantitative calculation should not be the sole basis for evaluating whether a decision maker’s or service provider’s fee is a variable interest. Reporting entities are required to apply the amended guidance as of the beginning of its first annual reporting period that begins after November 15, 2009, and for interim periods within that first annual reporting period. The Company does not expect the provisions of ASU 2010-10 to have a material effect on the financial position, results of operations, or cash flows of the Company.

In March, 2010, the FASB issued Accounting Standards Update 2010-11, to clarify the type of embedded credit derivative that is exempt from embedded derivative bifurcation requirements. Only one form of embedded credit derivative qualifies for the exemption—one that is related only to the subordination of one financial instrument to another. Entities that have contracts containing an embedded credit derivative feature in a form other than such subordination may need to separately account for the embedded credit derivative feature. The Company does not expect the provisions of ASU 2010-11 to have a material effect on the financial position, results of operations, or cash flows of the Company.

Results of Operations

The exchange of shares with the Well Chance Shareholder in February 2008 was accounted for as a reverse acquisition of the Company under the purchase method of accounting because Well Chance shareholder obtained control of the Company. Accordingly, the share exchange was recorded as a recapitalization of Well Chance, with Well Chance being treated as the continuing entity at the time. The subsequent Airline Advertising Acquisition Agreement, leading to the control of BJ YSLD in November 2008, was accounted for similarly to a pooling of interest as there was common control. Therefore, the Company's historical financial information includes that of BJ YSLD.

Comparison of Three Months Ended March 31, 2010 and 2009:

	2010			2009
	Amount		% of Revenue	Amount		% of Revenue
REVENUE	$	3,788,443	100.00%	$	2,630,624	100.00%
COST OF REVENUE		1,129,952	29.83%		1,447,254	55.02%
GROSS PROFIT		2,658,491	70.17%		1,183,370	44.98%
OPERATING EXPENSES		1,620,258	42.77%		2,171,224	82.54%
INCOME (LOSS) FROM OPERATIONS		1,038,233	27.41%		(987,854)	(37.55%)
TOTAL NON-OPERATING INCOME (EXPENSE)		(76,725)	(2.03%)		(110,894)	(4.22%)
INCOME (LOSS) BEFORE INCOME TAXES		961,508	25.38%		(1,098,748)	(41.77%)
INCOME TAXES		308,672	8.15%		208,890	7.94%
NET INCOME (LOSS)		652,836	17.23%		(1,307,638)	(49.71%)
NET INCOME (LOSS) ATTRIBUTABLE TO LEGEND MEDIA, INC. COMMON SHAREHOLDERS		652,836	17.23%		(1,415,574)	(53.81%)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation		(542)	(0.01%)		(70,127)	(2.67%)
COMPREHENSIVE INCOME (LOSS)	$	652,294	17.22%	$	(1,485,701)	(56.48%)

Revenues. Our revenue included sales of radio advertising and airline magazine advertising. During the three months ended March 31, 2010, we had revenues of $3,788,443 , compared to $2,630,624 for the three months ended March 31, 2009, an increase of $1,157,819 . The increase is attributable to increasing demand for airline magazine advertising offset by a reduction in demand for radio business advertising.

Cost of revenue. Cost of revenue decreased to $1,129,952, for the three months ended March 31, 2010, compared to $1,447,254, for the three months ended March 31, 2009, a decrease of $317,302 or 21.92%. The decrease is a result of the termination of underperforming advertising assets offset by an increase in costs related to the airline business. Management has taken several steps to reduce costs associated with poor performing advertising assets. These efforts have helped the Company reach profitability in the current quarter. The Company expects the cost of revenue increase as the business expands.

Gross Profit. As a result of the above, gross profit was $2,658,491 for the three months ended March 31, 2010 compared to $1,183,370 for the three months ended March 31, 2009, an increase of $1,475,121 or 124.65%. The overall gross profit increase for the three months ended March 31, 2010 is attributable to increased revenue and reduced cost of revenue.

The gross margin for the three months ended March 31, 2010 and 2009 was 70.17% and 44.98%, respectively.

Operating Expenses. Operating expenses decreased to $1,620,258 for the three months ended March 31, 2010, compared to $2,171,224 for the three months ended March 31, 2009. The decrease is the result of a $414,950 decrease in selling expense plus a $235,967 decrease in depreciation and amortization expenses partially offset by a $99,951 increase in general and administrative expenses. Current period decrease of selling expenses is mainly due to the decrease in barter transaction volume. Materials transferred in barter transactions were recorded in selling expenses when consumed.

Depreciation and amortization decreased to $189,319 for the three months ended March 31, 2010, compared to $425,286 for the three months ended March 31, 2009, a decrease of $235,967 . The majority of the difference is related to a reduced amount of intangible assets to amortize as the Company took an impairment charge to the FM 92.5 contract in the last quarter ended June 30, 2009 and the quarter ended December 31, 2009.

Income (Loss) from Operations. As a result of the above, income from operations was $1,038,233 for the three months ended March 31, 2010 compared to loss from operations $987,854 for the three months ended March 31, 2009, a difference of $2,026,087 . As a percentage of revenues, income from operations was 27.41% for the three months ended March 31, 2010 compared to a loss from operations of 37.55% for the three months ended March 31, 2009.

Non-operating Income and Expense. Non-operating expense for the three months ended March 31, 2010 was $76,725 Non-operating expenses were $110,894 for the three months ended March 31, 2009. The majority of the difference can be attributed to non-opearting expense related to related party interest.

Income (Loss) before Provision for Income Taxes. Income before provision for income taxes was $961,508 for the three months ended March 31, 2010 as compared to a loss before provision for income tax of $1,098,748 for the three months ended March 31, 2009, a difference of $2,060,256 .

Net Income (Loss) attributable to Legend Media, Inc. common shareholders. As a result of the foregoing, the net income attributable to Legend Media, Inc. common shareholders increase to $652,836 for the three months ended March 31, 2010 compared to a loss attributable to common shareholders of $1,415,574 for the three months ended March 31, 2009, a difference of $2,068,410 . The respective net margins are 17.23% and negative 53.81% for the three months ended March 31, 2010 and 2009, respectively. The improvement for the three months ended March 31, 2010 was mainly due to the increase in revenue and the decrease in selling, depreciation and amortization expenses following the restructuring of the Company’s operating unit including the termination of certain VIE agreement. Management believes the Company's operations will generate net income in the future due to the fixed nature of many of the expenses and expectations of continued revenue growth.

Comparison of Nine Months Ended March 31, 2010 and 2009:

	2010			2009
	Amount		% of Revenue	Amount		% of Revenue
REVENUE	$	8,716,508	100.00%	$	7,614,205	100.00%
COST OF REVENUE		2,904,374	33.32%		4,133,588	54.29%
GROSS PROFIT		5,812,134	66.68%		3,480,617	45.71%
OPERATING EXPENSES		5,921,850	67.94%		5,810,168	76.31%
INCOME (LOSS) FROM OPERATIONS		(109,716)	(1.26%)		(2,329,551)	(30.59%)
NON-OPERATING EXPENSE		(265,412)	(3.04%)		(518,315)	(6.81%)
LOSS BEFORE INCOME TAXES		(375,128)	(4.30%)		(2,847,866)	(37.40%)
INCOME TAXES		415,053	4.76%		502,661	6.60%
NET INCOME (LOSS)		(790,181)	(9.07%)		(3,350,527)	(44.00%)
NET INCOME (LOSS) ATTRIBUTABLE TO LEGEND MEDIA, INC. COMMON SHAREHOLDERS		(790,181)	(9.07%)		(3,344,440)	(43.92%)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation		(5,365)	(0.06%)		(70,877)	(0.93%)
COMPREHENSIVE INCOME (LOSS)	$	(795,546)	(9.13%)	$	(3,415,317)	(44.85%)

Revenues. Our revenue included sales of radio advertising and airline magazine advertising. During the nine months ended March 31, 2010, we had revenues of $8,716,508, compared to $7,614,205 for the nine months ended March 31, 2009, a increase of $1,102,303. The increase is attributable to increasing demand for airline magazine advertising offset by a reduction in demand for radio business advertising.

Cost of revenue. Cost of revenue decreased to $2,904,374 , for the nine months ended March 31, 2010, compared to $4,133,588, for the nine months ended March 31, 2009, a decrease of $1,229,214 or 29.74%. The decrease is a result of the termination of underperforming advertising assets offset by an increase in costs related to the airline business. Management has taken several steps to reduce costs associated with poor performing advertising assets. These efforts have helped the Company reach profitability in the current quarter.

Gross Profit. As a result of the above, gross profit was $5,812,134 for the nine months ended March 31, 2010 compared to $3,480,617 for the nine months ended March 31, 2009, an increase of $2,331,517 or 66.99%. The overall gross profit increase for the nine months ended March 31, 2010 is attributable to the increased revenue and reduced cost of revenue.

The gross margin for the nine months ended March 31, 2010 and 2009 was 66.68% and 45.71%, respectively.

Operating Expenses. Operating expenses increased to $5,921,850 for the nine months ended March 31, 2010, compared to $5,810,168 for the nine months ended March 31, 2009. The increase is the result of a $480,181 increase in selling expense plus a $67,990 increase in general and administrative expenses offset by a $436,489 decrease in depreciation and amortization expenses. Current period increase of selling expenses is mainly due to the increase in barter transaction volume in the first and second quarters. Materials transferred in barter transactions were recorded in selling expenses when consumed.

Depreciation and amortization decreased to $803,345 for the nine months ended March 31, 2010, compared to $1,239,834 for the nine months ended March 31, 2009, a decrease of $436,489. The majority of the difference is related to a reduced amount of intangible assets to amortize as the Company took an impairment charge to the FM 92.5 contract in the last quarter ended June 30, 2009 and the quarter ended December 31, 2009.

Loss from Operations. As a result of the above, loss from operations totaled $109,716 for the nine months ended March 31, 2010 as compared to loss from operations $2,329,551 for the nine months ended March 31, 2009, a difference of $2,219,835 . As a percentage of revenues, loss from operations was 1.26% for the nine months ended March 31, 2010 compared to a loss from operations 30.59% for the nine months ended March 31, 2009.

Non-operating Income and Expense. Non-operating expense for the nine months ended March 31, 2010 was $265,412 as compare to $518,315 for the nine months ended March 31, 2009. The difference of $252,903 can be attributed to nonrecurring gains resulting from termination of certain VIE agreements offset by reductions in interest payments on notes payable, and a nonrecurring impairment loss on an intangible asset.

Loss before Provision for Income Taxes. Loss before provision for income taxes was $ 375,128 for the nine months ended March 31, 2010 as compared to a loss before provision for income tax of $2,847,866 for the nine months ended March 31, 2009, a difference of $2,472,738 .

Net Loss attributable to Legend Media, Inc. common shareholders. As a result of the foregoing, net loss attributable to Legend Media, Inc. common shareholders decreased to $790,181 for the nine months ended March 31, 2010 compared to $3,344,440 for the nine months ended March 31, 2009, a difference of $2,554,259 . The respective net negative margins are 9.07% and 43.92% for the nine months ended March 31, 2010 and 2009. The improvement for the nine months ended March 31, 2010 was mainly due to the increase in revenue and reductions in cost of revenue as a result of the termination of under performing advertising assets. Management believes the Company's operations will generate net income in the future due to fixed nature of many of the expenses and expectations of continued revenue growth.

Liquidity and Capital Resources

Cash Flows

The following table sets forth a summary of our cash flows for the nine month periods ended as indicated below:

	March 31,			March 31,
	2010			2009
	(unaudited)			(unaudited)
Net cash provided by (used in) operating activities	$	(427,615	)	$	(2,415,430	)
Net cash used in investing activities		(180,393	)		(1,618,049	)
Net cash provided by financing activities		511,158			855,973
Effect of exchange rate changes on cash and cash equivalents		28			4,613
Net increase (decrease) in cash and cash equivalents		(96,822	)		(3,172,893	)
Cash and cash equivalents at the beginning of period		169,343			3,372,499
Cash and cash equivalents at the end of period		72,521			199,606

Operating Activities

Net cash used in operating activities was $427,615 in the nine months ended March 31, 2010 compared to $2,415,430 in the period ending March 31, 2009. Our cash flows have improved in the nine months ended March 31, 2010 which is largely attributable to increasing revenues, and lower expense levels.

Cash flows from Investing and Financing Activities

Cash used in investing activities in the nine months ended March 31, 2010 was $180,393, compared to $1,618,049 for the period ended March 31, 2009. The reduction is due to reduced acquisition activity and a one off gain on termination of a VIE agreement. Cash provided by financing activities was $511,158 for the nine months ended March 31, 2010 compared to $855,973 for the nine months ended March 31, 2009. The cash provided by financing activities was obtained by the contribution of capital and other advances made by shareholders to the operating entity in China. Since the business is not able to generate adequate cash, the Company may have to raise additional funds to finance any continued growth and existing commitments. Also see going concern note reproduced earlier in this section.

Off-Balance Sheet Arrangements

We have not entered into any other financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as stockholder's equity or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development services with us.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not required.

Item 4T. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer (collectively, the "Certifying Officers") are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Exchange Act) for us. Based on their evaluation of our disclosure controls and procedures as of the end of the period covered by this quarterly report on Form 10-Q, the Certifying Officers have concluded that (a) our disclosure controls and procedures are effective for ensuring that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms; and (b) our disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us under the Exchange Act is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

(b) Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2010 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II: OTHER INFORMATION

Item 1. Legal Proceedings

We are not a party and our property is not subject to any material pending legal proceedings nor are we aware of any threatened or contemplated proceeding by any governmental authority against the Company as of the date of this Quarterly Report on Form 10-Q.

Item 1A. Risk Factors

With the exception of the matters referred to in the going concern note included in Note 1, there have been no material changes to the risk factors previously disclosed in the Company's Annual Report on Form 10-K for the year ended June 30, 2009. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

See Going Concern of Note 1 in the Notes to Consolidated Financial Statements.

Item 4. Submission of Matters to a Vote of Security Holders

None.

Item 5. Other Information

None.

Item 6. Exhibits

Exhibits:

	31.1	Section 302 Certification of Principal Executive Officer and Principal Financial Officer.*
	32.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350.*

* Filed herewith

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.

	LEGEND MEDIA, INC.
Date: May 17, 2010	By:	/s/ Ju BaoChun
		Ju BaoChun
		Chief Executive Officer
Date: May 17, 2010	By:	/s/ Jeffrey Dash
		Jeffrey Dash
		Chief Financial Officer

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