UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended March 31, 2009
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period From to
Commission File Number: 333-123169
AMERICAN MEDIA SYSTEMS CO.
(Exact name of registrant as specified in its charter)
| Nevada | | 87-0736406 |
| (State or other jurisdiction of incorporation or organization) | | (I.R.S. Employer Identification No.) |
5190 Neil Road, Suite 430, Reno Nevada, 89502
(Address of principal executive offices including Zip Code)
Registrant's telephone number, including area code: (866) 651-2219
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
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act). (Check one):
| Large accelerated filer | | Accelerated filer | |
| Non-accelerated filer | | Smaller reporting company | x |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes x No
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by court.
Yes No
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the Issuer's classes of common equity, as of the latest practicable date: Common, $0.00001 par value per share: 10,000,000 outstanding as of May 14, 2009.
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements.
AMERICAN MEDIA SYSTEMS CO.
(A Development Stage Company
BALANCE SHEETS
| | March 31 | | December 31 | |
| | 2009 | | 2008 | |
| | (unaudited) | | (audited) | |
| | | | | |
| ASSETS | |
| | | | | |
| CURRENT ASSETS | | | | |
| Cash | $ | 423.210 | | $ | 433,885 | |
| Sales taxes recoverable | | 3,787 | | | 2,961 | |
| | | | | | | |
| | | 426,997 | | | 436,846 | |
| EQUIPMENT | | 15,062 | | | 16,231 | |
| | | | | | | |
| TOTAL ASSETS | $ | 442,059 | | $ | 453,077 | |
| | | | | | | |
| | | | | | | |
| LIABILITIES | |
| | | | | | | |
| CURRENT LIABILITIES | | | | | | |
| Accounts payable | $ | 5,715 | | $ | 10,776 | |
| Loan payable | | 1,000 | | | 1,000 | |
| Advances from related parties (Note 3) | | 158,651 | | | 144,251 | |
| | | | | | | |
| Total Liabilities | | 165,366 | | | 156,027 | |
| | | | | | | |
| | | | | | | |
| STOCKHOLDER'S EQUITY | |
| Common stock – Note 4 | | | | | | |
| Authorized: | | | | | | |
| 50,000,000 shares, $0.00001 par value; | | | | | | |
| Issued and outstanding: | | | | | | |
| 10,000,000 common shares | | 100 | | | 100 | |
| | | | | | | |
| ADDITIONAL PAID-IN CAPITAL | | 494,300 | | | 494,300 | |
| | | | | | | |
| DONATED CAPITAL | | 67,876 | | | 67,876 | |
| | | | | | | |
| DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE | | (285,583 | ) | | (265,226 | ) |
| | | | | | | |
| TOTAL STOCKHOLDERS' EQUITY | | 276,693 | | | 297,050 | |
| | | | | | | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 442,059 | | $ | 453,077 | |
| | | | | | | |
| The accompanying notes are an integral part of these consolidated balance sheets. | |
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AMERICAN MEDIA SYSTEMS CO
| (A Development Stage Company) |
| | | | | | Accumulated from | |
| | Three months | | Three months | | December 6, 2004 | |
| | ended | | ended | | (date of inception) | |
| | March 31 | | March 31 | | to March 31 | |
| | 2009 | | 2008 | | 2009 | |
| | | | | | | |
| | | | | | | |
| REVENUE | $ | - | | $ | - | | $ | 133,935 | |
| | | | | | | | | | |
| COST OF GOODS SOLD | | - | | | - | | | (36,032 | ) |
| | | | | | | | | | |
| GROSS PROFIT | | - | | | - | | | 97,903 | |
| | | | | | | | | | |
| GENERAL AND ADMINISTRATIVE EXPENSES | | | | | | | | | |
| | | | | | | | | | |
| Advertising | | - | | | - | | | 1,225 | |
| Audit fees | | - | | | 3,500 | | | 32,433 | |
| Bad debt | | - | | | - | | | 272 | |
| Bank charges and interest | | 132 | | | 981 | | | 3,478 | |
| Consulting fees | | 13,714 | | | 13,585 | | | 233,905 | |
| Depreciation | | 1,169 | | | 1,169 | | | 31,219 | |
| Loss (gain) on foreign exchange | | 576 | | | 838 | | | (479 | ) |
| Legal fees | | 3,865 | | | 410 | | | 20,067 | |
| Office | | 250 | | | - | | | 9,254 | |
| Rent | | - | | | - | | | 22,706 | |
| Telephone and communication | | 1 | | | 3 | | | 18,514 | |
| Transfer agent fees | | 650 | | | 567 | | | 12,937 | |
| Website and software maintenance | | - | | | - | | | 556 | |
| | | | | | | | | | |
| | | (20,357 | ) | | (21,053 | ) | | (386,087 | ) |
| | | | | | | | | | |
| LOSS FROM OPERATIONS | | (20,357 | ) | | (21,053 | ) | | (288,184 | ) |
| | | | | | | | | | |
| OTHER INCOME | | | | | | | | | |
| Film production equipment sale, net | | - | | | - | | | 1,621 | |
| | | | | | | | | | |
| LOSS FROM CONTINUING OPERATIONS | | (20,357 | ) | | (21,053 | ) | | (286,563 | ) |
| | | | | | | | | | |
| DISCONTINUED OPERATIONS | | | | | | | | | |
| Gain from operations of discontinued Component (including gain on disposal of $273) | | - | | | - | | | 980 | |
| | | | | | | | | | |
| NET LOSS | $ | (20,357 | ) | $ | (21,053 | ) | $ | (285,583 | ) |
| | | | | | | | | | |
| Basic and diluted net loss per share | $ | (0.00 | ) | $ | (0.00 | ) | | | |
| | | | | | | | | | |
| Weighted average shares outstanding | | 10,000,000 | | | 10,000,000 | | | | |
| | | | | | | | | | |
AMERICAN MEDIA SYSTEMS CO
| (A Development Stage Company) |
| | | | | | Accumulated from | |
| | Three months | | Three months | | December 06, 2004 | |
| | ended | | ended | | (Date of Inception) | |
| | March 31 | | March 31 | | March 31 | |
| | 2009 | | 2008 | | 2009 | |
| | | | | | | |
| OPERATING ACTIVITIES | | | | | | |
| | | | | | | |
| Net Loss | $ | (20,357 | ) | $ | (21,053 | ) | $ | (285,583 | ) |
| | | | | | | | | | |
| Items not requiring cash outlay | | | | | | | | | |
| Consulting fees | | - | | | - | | | 62,775 | |
| Depreciation | | 1,169 | | | 1,169 | | | 31,219 | |
| Website and software maintenance | | - | | | - | | | 300 | |
| Amortization of deferred DVD production costs | | - | | | - | | | 780 | |
| Gain on sale of subsidiary | | - | | | - | | | (4,783 | ) |
| | | | | | | | | | |
| Cash provided by (used in) changes in operating assets and liabilities | | | | | | | |
| | | | | | | | | | |
| Accounts payable | | (5,061 | ) | | (386 | ) | | 3,779 | |
| Sales taxes payable | | (826 | ) | | (816 | ) | | (3,787 | ) |
| Accrued liabilities | | - | | | 3,500 | | | - | |
| Loan payable | | - | | | - | | | 1,000 | |
| | | | | | | | | | |
| Net cash used in operating activities | | (25,075 | ) | | (17,586 | ) | | (194,300 | ) |
| | | | | | | | | | |
| FINANCING ACTIVITIES | | | | | | | | | |
| Advances from a related party | | 14,400 | | | 14,400 | | | 158,651 | |
| Issuance of common stock for cash | | - | | | - | | | 450,001 | |
| | | | | | | | | | |
| Net Cash provided by financing activities | | 14,400 | | | 14,400 | | | 608,652 | |
| | | | | | | | | | |
| INVESTING ACTIVITIES | | | | | | | | | |
| Payments for intellectual property | | - | | | - | | | (2 | ) |
| Production of DVDs | | - | | | - | | | (2,259 | ) |
| Purchase of equipment | | - | | | - | | | (1,881 | ) |
| Cash proceeds from sale of subsidiary | | - | | | - | | | 13,000 | |
| | | | | | | | | | |
| Net Cash provided by financing activities | | - | | | - | | | 8,858 | |
| | | | | | | | | | |
| Increase in cash and cash equivalents | | (10,675 | ) | | (3,186 | ) | | 423,210 | |
| | | | | | | | | | |
| Cash and cash equivalent - beginning of the period | | 433,885 | | | 446,598 | | | - | |
| | | | | | | | | | |
| Cash and cash equivalent - end of the period | $ | 423,210 | | $ | 443,412 | | $ | 423,210 | |
| | | | | | | | | | |
| Supplemental Disclosure | | | | | | | | | |
| Interest expense | | - | | | - | | | 16 | |
| Foreign exchange (gain) loss | | 576 | | | 838 | | | (479 | ) |
| | | | | | | | | | |
Purchase of equipment in exchange for 2,000,000 of the Company's common stock at a price of $0.0222 per share | | - | | | - | | | 44,400 | |
| Donated services | | - | | | - | | | 67,876 | |
| | | | | | | | | | |
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American Media Systems Co
(A Development Stage Company)
Notes to the Financial Statements
March 31, 2009
NOTE 1 – OPERATIONS AND BASIS OF PRESENTATION
The Company was incorporated under the laws of the State of Nevada on December 6, 2004. The company is a startup film production company that specializes in television and feature film aerial cinematography. On May 31, 2006 the Company sold its instructional DVD segment.
These unaudited financial statements have been prepared in accordance with the instructions to SEC Form 10-Q. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted pursuant to such instructions. These unaudited interim financial statements should be read in conjunction with the audited financial statements and notes thereto as at December 31, 2008.
The Company does not generate sufficient cash flow from operations to fund its activities and has therefore relied principally upon the issuance of securities for financing. The Company intends to continue relying upon the issuance of securities to finance its operations and development activities, however there can be no assurance it will be successful in raising the funds necessary to maintain operations, or that a self-supporting level of operations will ever be achieved. The likely outcome of these future events is indeterminable. These factors together raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustment to reflect the possible future effect on the recoverability and classification of the assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.
In the opinion of the Company’s management, all adjustments considered necessary for a fair presentation of these unaudited financial statements have been included and all such adjustments are of a normal, recurring nature. Operating results for the three-month period ended March 31, 2009 are not necessarily indicative of the results that can be expected for the year ended December 31, 2009.
During the quarter ended March 31, 2009, the Company shut down its wholly owned subsidiary, American Media Systems Canada, Ltd. without incurring gain or loss. Accordingly, these financial statements are no longer consolidated
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a) Basis of Presentation and Fiscal Year
These financial statements and related noted are presented in accordance with accounting principles accepted in the United States, and are expressed in US dollars. The Company’s fiscal year-end is December 31.
b) Recent Accounting Pronouncements
The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any recently issued, but not yet effective accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.
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American Media Systems Co
(A Development Stage Company)
Notes to the Financial Statements
March 31, 2009
(unaudited)
NOTE 3 – RELATED PARTY TRANSACTIONS AND BALANCES
| A) | During the three month period ended March 31, 2009 the Company incurred $13,714 ($13,585 in 2008) in consulting fees from A.J. Vesak Ltd., a company wholly owned by its President. |
| B) | The due to Related Parties is a debt without interest or stated repayment terms. |
The transaction between the Company and the related party were consummated at the price agreed upon by the parties.
NOTE 4 - COMMON STOCK
Effective January 27, 2006, the Company completed a two shares for one share stock split. Effective September 29, 2006, the Company completed a one share for two shares stock consolidation. The Company's share transactions disclosed in these financial statements have been restated retroactively to reflect the above stock transactions.
On December 15, 2007 the Company completed a $400,000 financing pursuant to an SB-2 registration statement declared effective by the Securities and Exchange Commission on July 5, 2007. 8,000,000 shares of Common Stock were issued.
There are no shares subject to warrants, options or other agreements as at March 31, 2009.
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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Forward-Looking Statements
This Form 10-Q includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this Form 10-Q, other than statements of historical facts, that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including operating costs, future capital expenditures (including the amount and nature thereof), and other such matters are forward-looking statements. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions within the bounds of our knowledge of our business, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Because our stock is a penny stock, each time we refer to the Litigation Reform Act, the safe harbor does not apply.
Factors that could cause actual results to differ materially from those in forward-looking statements include: the change of business focus; continued availability of capital and financing; general economic, market or business conditions; acquisition opportunities or lack of opportunities; changes in laws or regulations; risk factors listed from time to time in our reports filed with the Securities and Exchange Commission; and other factors.
American Media Systems Co. is a Nevada company incorporated on December 6, 2004. We are a startup film and production company that specializes in television and feature film aerial cinematography. On May 31, 2006 we sold our instructional DVD segment.
Employees and Consultants
The Registrant has no employees. The company's CEO, A.J. Vesak is retained as a consultant.
Management's Discussion and Analysis of Financial Condition and Results of Operations.
During the three months ending March 31, 2009 there were $nil in sales (2008 - $nil) and we incurred a loss from operations of $20,357 (2008 - loss of $21,053). The major components of expenses faced by the company during the three months were consulting fees of $13,714 (2008 - $13,585), legal fees of $3,865 (2008 - $410), audit fees of $nil (2008 - $3,500), and depreciation of $1,169 (2008 - $1,169). The balance of our expenses during the three months have been transfer agent fees of $650 (2007 - $567), loss on foreign exchange of $ 576 (2008 – loss of $838) bank and interest charges of $132 (2008 - $981), and office of $250 (2008 - - $nil).
As of March 31, 2009 the Company had current assets of $426,997 compared to $436,846 on December 31, 2008. Current assets consist of cash of $423,210 (2008 - $433,885), sales tax recoverable of $3,787 (2008 - $2,961). As of March 31, 2009 the Company has current liabilities of $165,366 compared to $156,027 at December 31, 2008. The current liabilities consist of $1,000 in loan payable (December 31, 2008 - $1,000), $5,715 accounts payable (December 31, 2008 - $10,776) and $158,651 due to a related party (December 31, 2008 - $144,251). There is no long-term debt. The Company may in the future invest in short-term investments from time to time but there can be no assurance that these investments will result in profit or loss.
Our future growth and success will be dependent on our ability to develop new markets and to grow the customer base for our aerial cinematography services. If we cannot succeed in developing new markets and grow our customer base then our prospects for growth are substantially undermined.
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Plan of Operations
Our plan of operations for the next 12 months is to continue our business of providing aerial cinematography services to the film and advertising industries and to diversify into government and corporate sectors. We feel that we are well positioned to take advantage of any growth in the local film industry. To pursue these objectives we completed a financing in December of 2007 pursuant to an SB-2 registration statement declared effective by the Securities and Exchange Commission on July 7, 2007. We raised a total of $400,000 and issued 8,000,000 shares of common stock. The funds will be utilized to pay general working capital expenses such as, but not limited to, office, audit and legal fees. We will also utilize the funds to market our services by customizing our corporate awareness DVD to specific sectors within the economy. We will target those sectors that we believe are poised for growth and could benefit the greatest from our services. We anticipate that this work will require additional consulting, legal, and travel and related expenses as we continue expanding our customer base.
Off balance-sheet arrangements
We do not have any off balance-sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.
Recent accounting pronouncements
In December 2007, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard ("SFAS") No. 141(R), "Business Combinations". SFAS 141(R) establishes principles and requirements for how the acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, an any noncontrolling interest in the acquiree, recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase, and determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. SFAS 141(R) is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008. As such, the Company is required to adopt these provisions at the beginning of the fiscal year ended December 31, 2009. The Company is currently evaluating the impact of SFAS 141(R) on its consolidated financial statements but does not expect it to have a material effect.
In December 2007, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard ("SFAS") No. 160, "Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No. 51". SFAS 160 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. SFAS 160 is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008. As such, the Company is required to adopt these provisions at the beginning of the fiscal year ended December 31, 2009. The Company is currently evaluating the impact of SFAS 160 on its consolidated financial statements but does not expect it to have a material effect.
In March 2008, the FASB issued SFAS No. 161 “Disclosure About Derivative Instruments and Hedging Activities-an amendment to FASB Statement 133” (SFAS 161). SFAS 161 requires enhanced disclosures about derivatives and hedging activities and the reasons for using them. SFAS 161 is effective for fiscal years beginning after November 15, 2008. The Company is currently reviewing the provisions of SFAS 161 on its financial statements but does not expect it to have a material effect.
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In May 2008, the FASB issued SFAS 162, “The hierarchy of Generally Accepted Accounting Principles” (“SFAS 162”). SFAS 162 identifies the sources of accounting principles and the frame work for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity with generally accepted accounting principles. This statement shall be effective 60 days after the SEC’s approval of the Public Company Accounting Oversight Board amendment to AU Section 411, “the Meaning of Present Fairly in Conformity with Generally Accepted Accounting Principles.” The Company is currently reviewing the provisions of SFAS 162 on its financial statements but does not expect it to have a material effect.
In May 2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee Insurance Contracts – and interpretation of FASB Statement No. 60” (“SFAS 163”. SFAS 163 interprets Statement 60 and amends existing accounting pronouncements to clarify their application to the financial guarantee insurance contracts included within the scope of that statement. SFAS 163 is effective for financial statements issued for fiscal years beginning after December 15, 2008, and all interim periods within those fiscal years. The Company is currently reviewing the provisions of SFAS 163 on its financial statements but does not expect it to have a material effect.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
N/A
Item 4. Controls and Procedures.
(a) Evaluation of Disclosure Controls and Procedures: Disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in the reports filed under the Exchange Act is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
Under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that these disclosure controls and procedures are effective.
(b) Changes in Internal Control over Financial Reporting: There were no changes in our internal control over financial reporting during the quarter ended March 31, 2009 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Item 4T. Controls and Procedures
N/A
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PART II -OTHER INFORMATION
Item 1. Legal Proceedings
None.
Item 1A. Risk Factors
N/A
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
This use of proceeds information is being disclosed pursuant to our SB-2 registration statement file # 333-143464 declared effective on July 7, 2007. The offering commenced on July 8, 2007 and was terminated on December 15, 2007 with 8,000,000 shares of common stock issued and $400,000 raised.
Pursuant to the SB-2 registration statement we registered 8,000,000 shares for sale by the issuer for maximum proceeds of $400,000 of which 8,000,000 shares were sold for total proceeds of $400,000.
There was no underwriter in the offering and no funds have been paid for underwriting discounts or commissions, finders' fees, or to underwriters in connection with the offering.
We have paid total expenses of $975 including legal, audit, and transfer agent fees. All these fees were paid directly by the issuer and none of the fees were paid to a director, officer, 10% security owners, or any individual or firm with insider or related party affiliation with the issuer.
Net proceeds to the issuer after taking account of expense related to the registration statement were $399,025. From the effective date to March 31, 2009 the issuer has used $32,371 for consulting, legal, and office expenses of the net offering proceeds.
Item 3. Defaults Upon Senior Securities
None
Item 4. Submissions of Matters to a Vote of Security Holders
None
Item 5. Other Information
None
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Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
| 3.1 | Articles of Incorporation (1) |
| 3.2 | Bylaws (1) |
| 4.1 | Specimen Stock Certificate (1) |
| 10.1 | Contract with Brand Specialists LLC (1) |
| 10.2 | Purchase agreement for Craft College intellectual property (1) |
| 10.3 | Purchase agreement for Mentor Media intellectual property (1) |
| 10.4 | Contract with Memories Complete (1) |
| 10.5 | Written representation of verbal agreement with Vancouver Film Studios (1) |
| 14.1 | Code of ethics (1) |
| 21.1 | Subsidiaries (1) |
| 31.1 | Certification of Principal Executive Officer and Principal financial Officer pursuant to Rule 13a-14 and Rule 15 d-14(a), promulgated under the Securities and Exchange Act of 1934, as amended. |
| 32.1 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer and Chief Financial Officer). |
(1) Incorporated herein by reference from our Form SB-2 registration statement and all amendments thereto filed with the Securities and Exchange Commission, and amendments thereto, SEC file No. 333-123169 or Form 10KSB for the year ended December 31, 2005.
(b) Reports on Form 8-K filed during the quarter.
None
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.
| | AMERICAN MEDIA SYSTEMS CO. |
| | (Registrant) |
| | | |
| Dated: May 13, 2009 | BY: | AJ VESAK |
| | | Principal Executive Officer, and |
| | | Principal Financial Officer |
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