UOMO Media 10QSB 2007 Q3 Quarterly report (small business)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB

(Mark One)


x	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended January 31, 2007.

o	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ______________

Commission file number: 333-131621

First Source Data, Inc.

(Exact name of small business issuer as specified in its charter)

Nevada

20-1558589

(State or other jurisdiction of incorporation or organization)

(IRS Employer Identification No.)

155 Dalhousie Street, Suite 1111, Toronto, Ontario, Canada, M5B 2P7

(Address of principal executive offices)

(416) 214-1516

(Issuer’s telephone number)

Check whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x Noo

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes o Nox

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date:

42,074,168 common shares as of March 16, 2007

Transitional Small Business Disclosure Format (Check one): Yes o Nox

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INDEX

Page

PART I.

FINANCIAL INFORMATION

Item 1.

Financial Statements

Item 2.

Management’s Discussion and Analysis

Item 3.

Controls and Procedures

PART II

OTHER INFORMATION

Item 1.

Legal Proceedings

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

Item 3.

Defaults Upon Senior Securities

Item 4.

Submission of Matters to a Vote of Security Holders

Item 5

Other Information

Item 6

Exhibits

SIGNATURE PAGE

CERTIFICATIONS

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PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

FIRST SOURCE DATA, INC.

(A Development Stage Company)

FINANCIAL STATEMENTS

January 31, 2007 (Unaudited)

(Amounts expressed in US Dollars)

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FIRST SOURCE DATA, INC.
(A Development Stage Company)
BALANCE SHEET AT JANUARY 31, 2007 AND APRIL 30, 2006
	(Amounts expressed in US dollars)		January 31, 2007	April 30, 2006
		Notes	(Unaudited)	(Audited)
	ASSETS
	Current Assets:
	Cash and Cash Equivalents		46,639	135,702
	Prepaid Expenses and Deposits		42,227	48,863
	Other Receivable		1,131	3,818
			89,997	188,383

	Property & Equipment	5	9,177	12,158

	TOTAL ASSETS		$ 99,174	$ 200,541

	LIABILITIES AND STOCKHOLDERS' EQUITY
	Current Liabilities:
	Revenue Received in advance		25,500	46,900
	Accounts Payable & Accruals		39,919	40,651
			65,419	87,551
	COMMITMENTS AND CONTINGENCIES	6,11

	Stockholders' Equity:
	Capital Stock
	Authorized:
	Common stock(100,000,000 @ par value of $ 0.001)
	Issued:
	Common stock	7	10,518	10,518
	Paid in Capital		316,257	316,257
	Unamortized stock-based compensation for stockholders	9	(30,920)	(45,320)
	Deficit accumulated during development stage		(262,100)	(168,465)
			33,755	112,990

	TOTAL LIABILITIES & STOCKHOLDERS' EQUITY		$ 99,174	$ 200,541

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

On behalf of the Board:

/s/ Javed Mawji

/s/ Jueane Thiessen

Javed Mawji

Director & Chief Executive Officer

Jueane Thiessen

Director & Chief Financial Officer

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FIRST SOURCE DATA, INC.
(A Development Stage Company)
STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED
JANUARY 31, 2007 AND 2006, AND FROM JUNE 10, 2004 (SINCE INCEPTION) TO JANUARY 31, 2007
(Amounts expressed in US dollars)

		Cumulative Since Inception (June 10, 2004 to January 31, 2007)				For the Three Months Ended January 31
				For the Nine Months Ended January 31		For the Three Months Ended January 31
				2007	2006	2007	2006
	Revenue	553,800		21,400	353,000	21,400	33,400
	Cost of goods sold	409,721		14,494	294,876	8,596	60,782
	Gross margin	144,079		6,906	58,124	12,804	(27,382)

	Expenses:
	Selling and administrative	387,356		81,086	107,833	34,307	37,175
	Depreciation	15,568		6,654	5,565	2,354	1,965
	Research and development	19,455		12,800	1,600	3,200	1,600
		422,379		100,540	114,998	39,861	40,740
	Loss from continuing operations before taxes	(278,300)		(93,634)	(56,874)	(27,057)	(68,122)
	Income taxes	-		-	-	-	-
	Loss from continuing operations	(278,300)		(93,634)	(56,874)	(27,057)	(68,122)
	Income from discontinued operations, net	16,200		-	-	-	-
	Net Loss for the Period	(262,100)		(93,634)	(56,874)	(27,057)	(68,122)

	Net Loss per share from continuing operations
	Basic		-	(0.002)	(0.005)	(0.001)	(0.006)
	Diluted		-	(0.002)	(0.005)	(0.001)	(0.006)
	Net Loss per share from discontinued operations
	Basic		-	-	-	-	-
	Diluted		-	-	-	-	-
	Net Loss per share for the period
	Basic		-	(0.002)	(0.005)	(0.001)	(0.006)
	Diluted		-	(0.002)	(0.005)	(0.001)	(0.006)
	Weighted average number of shares outstanding
	Basic			42,072,355	10,518,089	42,072,355	10,518,089

	Diluted			42,072,355	10,518,089	42,072,355	10,518,089

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

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FIRST SOURCE DATA, INC.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE PERIOD FROM MAY 1, 2006 TO JANUARY 31, 2007, THE YEAR ENDED APRIL 30, 2006 AND THE PERIOD FROM JUNE 10, 2004 (SINCE INCEPTION) TO APRIL 30, 2005
(Amounts expressed in US dollars)
	Common Stock (Number of Shares)	Common Stock Amount	Additional Paid-in Capital ($)	Deficit Accumul. during develop. stage ($)	Unamortized stock-based compensation ($)	Total Stock- holders Equity ($)
Balance as of June 10, 2004	-	-	-	-	-	-
Stock issued on June 10, 2004 for cash @ 0.003 a share	9,016,667	9,017	18,033			27,050
Stock issued in November 2004 for cash @ 0.20 a share	70,000	70	13,930			14,000
Stock issued in November 2004 for cash @ 0.10 a share (valued at 0.20 a share - see notes 4 and 8)	100,000	100	19,900			20,000
Stock issued in December 2004 for cash @ 0.20 a share	56,525	57	11,248			11,305
Stock issued in December 2004 for cash @ 0.10 a share	15,000	15	1,485			1,500
Stock issued in December 2004 for cash @ 0.10 a share (valued at 0.20 a share - see notes 4 and 8)	15,000	15	2,985			3,000
Stock issued in January 2005 for cash @ 0.003 a share (valued at 0.20 a share - see notes 4 and 8)	890,000	890	177,110			178,000
Stock issued in January 2005 for cash @ 0.10 a share	16,500	16	1,634			1,650
Stock issued in January 2005 for cash @ 0.20 a share	316,350	316	62,954			63,270
Stock issued in February 2005 for cash @ 0.10 a share	10,000	10	990			1,000
Unamortized stock based compensation for stock holders					(69,120)	(69,120)
Net loss, from June 10, 2004 to April 30, 2005				(164,300)		(164,300)
Balance as of April 30, 2005 (Audited)	10,506,042	10,506	310,269	(164,300)	(69,120)	87,355

(continued on next page)

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FIRST SOURCE DATA, INC.
(A Development Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE PERIOD FROM MAY 1, 2006 TO JANUARY 31, 2007, THE YEAR ENDED APRIL 30, 2006 AND THE PERIOD FROM JUNE 10, 2004 (SINCE INCEPTION) TO APRIL 30, 2005
(Amounts expressed in US dollars)

(CONTINUED FROM PREVIOUS PAGE)
	Common Stock (Number of Shares)	Common Stock Amount	Additional Paid-in Capital ($)	Deficit Accumul. during develop. stage ($)	Unamortized stock-based compensation ($)	Total Stock- holders Equity ($)
Stock issued on May 10, 2005 for cash @ 0.20 a share	12,500	12	2,488			2,500
Unamortized stock based compensation for stock holders					23,800	23,800
Rent - Free use of existing premises for 5 months (From December 2005 to April 2006)			3,500			3,500

Net loss for the year				(4,165)		(4,165)
Balance as of April 30, 2006 (Audited)	10,518,542	10,518	316,257	(168,465)	(45,320)	112,990

Unamortized stock based compensation for stock holders					14,400	14,400

Stock Split - October 25, 2006 @ 4 times	31,555,626

Net loss, from May 1, 2006 to January 31, 2007				(93,634)		(93,634)
Balance as of January 31, 2007 (Unaudited)	42,074,168	10,518	316,257	(262,099)	(30,920)	33,756

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

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FIRST SOURCE DATA, INC.
(A Development Stage Company)
STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED JANUARY 31, 2007 AND
2006, AND FROM JUNE 10, 2004 (SINCE INCEPTION) TO JANUARY 31, 2007
(Amounts expressed in US dollars)
(Unaudited)	Cumulative Since Inception (June 10, 2004 to January 31, 2007)	For the Nine Months Ended January 31


		2007		2006
Cash Flows from Operating Activities
Net Loss	$ (262,100)	$(93,634)	$(56,874)
Adjustments made to reconcile net loss to net cash from operating activities
Depreciation	15,568	6,654	5,565
Amortization of Stock Based Compensation	38,200	14,400	18,300
Fair value of rent for free use of existing premises	3,500	-	3,500
Shares issued for services rendered
For CEO - Javed Mawji	23,640	-	-
For former CEO - Alexei Diatchine	80,770	-	-
For rent and utilities	5,400	-	-
For professional services	1,500	-	-
For web hosting services	6,400	-	-
Changes in operating assets and liabilities
Decrease/(increase) in other receivable	(1,134)	2,684	-
Decrease/(increase) in prepaid expenses and deposits	(42,226)	6,637	(18,000)
Decrease/(increase) in accounts receivable	-	-	22,000
Increase/(decrease) in revenue received in advance	25,500	(21,400)	-
Increase/(decrease) in accounts payable & accruals	39,921	(731)	9,166
Cash flows used in operating activities	(65,061)	(85,390)	(16,343)
Cash Flows from Investing Activities
Purchase of property and equipment	(24,745)	(3,673)	(2,979)
Cash flows used in investing activities	(24,745)	(3,673)	(2,979)
Cash Flows from Financing Activities
Cash received on subscribed common stock	136,445	-	2,500
Cash flows provided by financing activities	136,445	-	2,500
Increase/(decrease) in cash and cash equivalents	46,639	(89,063)	(16,822)
Cash and cash equivalents, beginning of period	-	135,702	61,085
Cash and cash equivalents, end of period	$ 46,639	$ 46,639	$ 44,263

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

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

First Source Data, Inc. (the Company) was incorporated under the laws of the State of Nevada on June 10, 2004.

The Company is in the development stage with its main objective being the development and commercialization of a business to business software product to be titled the "AdMeUp Network". Its initial operations include: capital formation, organization, web site construction, target market identification, research costs, promotional materials costs and marketing plan.

NOTE 2. GOING CONCERN

The accompanying financial statements are presented on a going concern basis. The Company is in the development stage and its main product, “AdmeUp Network”, is still under development with commercial usage expected in the future.

Management does not believe that the Company’s cash balance of $46,639 as of January 31, 2007 is sufficient to cover the expenses that the Company will incur during the next twelve months. The Company’s revenues normally generated have in the past been from ancillary services and there is no guarantee that these sources can generate sufficient cash to fund the development of the main product in the future.

Management plans to raise additional funds through debt or equity offerings, or by acquiring or merging with another company. There is no guarantee that the Company will be able to raise any capital through any of these activities.

NOTE 3. RESEARCH AND PRODUCT DEVELOPMENT

During the period from May 1, 2006 to January 31, 2007, the Company incurred $12,800 in research and product development expenses. The Company’s focus during this period has been:

• Finalizing the overall architecture of the AdMeUp Network;

• Identifying the best way to allow the various components of the system to communicate;

• Developing the back end data mining techniques that will be required to make the project succeed; and

• Research and information gathering on optimum methodology for the “Link Exchange” component of the software. The Link Exchange is being designed to automate exchanging links between websites in the same content category in order to increase search engine rankings and, consequently, increase online traffic to both websites.

NOTE 4. RELATED PARTY TRANSACTIONS

On September 3, 2004,the Company issued 9,016,667 shares of its common stock to the former President of the Company, Doug McClelland, in return for cash.

During the fiscal period ended April 30, 2005, the Company advanced $25,000 to JOYN Internet Communities, Inc. where the President of the Company at the time, Douglas McClelland, was also the President of JOYN Internet Communities, Inc. This loan has been settled in full and no amount was due from JOYN Internet Communities, Inc. as at April 30, 2006 (2005 - Nil).

On November 25, 2004, the Company issued 100,000 shares of its common stock to a shareholder of the Company, Foreground Image, Inc., partly in return for the services and partly for cash.

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

On December 3, 2004, the Company issued 15,000 shares of its common stock to a shareholder of the Company, Ryan Lavallee, partly in return for his services and partly for cash. The stock-based portion of this issue has been valued at $ 1,500 as the difference between issued price ($ 0.01 per share) and the grant-date fair value ($ 0.20 per share) and has been charged against income as professional charges.

On January 10, 2005, the Company issued 410,000 shares of its common stock to the former Chief Executive Officer of the Company, Alexei Diatchine, partly in return for his services and partly for cash. The stock-based portion of this issue has been valued at $ 80,770 as the difference between issued price ($ 0.003 per share) and the grant-date fair value ($ 0.20 per share) and has been charged against income as management fees.

On January 25, 2005, the Company issued 120,000 shares of its common stock to the Chief Executive Officer of the Company, Javed Mawji, partly in return for his services and partly for cash. The stock-based portion of this issue has been valued at $ 23,640 as the difference between issued price ($ 0.003 per share) and the grant-date fair value ($ 0.20 per share) and has been charged against income as management fees.

On January 26, 2005, the Company issued 360,000 shares of its common stock to a shareholder of the Company, Lenka Gazova, partly in return for the web hosting services provided by her and partly for cash. The stock-based compensation portion of this issue has been valued at $ 70,920 as the difference between issued price ($ 0.003 per share) and the grant-date fair value ($ 0.20 per share) and has been amortized over the term of the contract between the Company and Lenka Gazova as follows:

First 36 months - $ 1,600 a month

Next 8 months - $ 1,665 a month

The term of the agreement is 44 months effective from January 1, 2005. The unamortized portion of this is $30,920 as at January 31, 2007 and has been deducted from shareholders’ equity.

On January 1, 2006, the Company entered into an agreement with Lenka Gazova, a shareholder of the Company, for a period of 12 months for the programming services to be provided on the “AdmeUp Network”. The fees for this are as follows:

a) $ 19,200 in cash or;

b) A number of shares in the common capital stock of the Company, without registration rights and incorporating such restrictive legends as are required by the Company to comply with all applicable laws, equal to $ 19,200 divided by the weighted average trading price of the Company’s common shares posted on any stock quotation or listing service for the 10-day period prior to the date of payment (or, if the trading price of the Company’s common shares is not at that time posted on any quotation or listing service, the weighted average price applied to the three most recent issuances of the Company’s common shares) or;

c) Some combination of a) and b) above that will yield a market value of $ 19,200 based on the foregoing valuation methodology.

The choice of the form in which payment of the Fees will be made shall be solely that of the Company. The Company has not yet determined how the Fees will be paid.

On October 12, 2006, the Company entered into an Independent Contractor Agreement with Javed Mawji, who is the Company’s Chief Executive Officer and one of our directors. The agreement provided for compensation of $3,000 per month to be paid to Mr. Mawji for performance of services as the Company’s Chief Executive Officer from September 1, 2006 through December 31, 2006.

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

2007, unless terminated earlier. In consideration for her services, Ms. Thiessen is entitled to receive cash compensation of $1,000 per month or a pro-rated amount for any partial months during which services are performed.

On November 1, 2006, the Company entered into a new sub-lease agreement with Foreground Image Inc. for office space. The lease expires on April 30, 2007 unless terminated earlier by written notice of either party and no consideration is payable by the Company under the lease. However, because this lease agreement immediately follows a lease agreement for the period from May 1, 2006 through October 31, 2006 under which total fees of $3,600 were payable, lease expenses for the twelve month period from May 1, 2006 through April 30, 2007 of $3,600 have been amortized to equal monthly allocations of $300.

On December 30, 2006, the Company entered into an Independent Contractor Agreement with its Chief Executive Officer and one of its directors, Javed Mawji, pursuant to which Mr. Mawji shall perform services as the Company’s Chief Executive Officer. The term of the agreement commenced December 30, 2006 and ends June 30, 2007, unless terminated earlier. In consideration for his services, Mr. Mawji is entitled to receive cash compensation of $3,000 per month during which services are performed.

NOTE 5. PROPERTY AND EQUIPMENT ($)



January 31, 2007	Cost	Accumulated	Net book
		depreciation	value
Computer hardware	17,736	8,559	9,177
Computer software	7,009	7,009	0
	24,745	15,568	9,177



April 30, 2006	Cost	Accumulated	Net book
		depreciation	value
Computer hardware	14,063	4,533	9,530
Computer software	7,009	4,381	2,628
	21,072	8,914	12,158

NOTE 6. OPERATING LEASE COMMITMENTS

On August 1, 2004, the Company entered into a sub-lease agreement with Foreground Image, Inc for office space. The lease is for a period of 16 months with the option to renew for a further one-year period. The lease payments are as follows.

First 12 months - $ 600 per month

Next 4 months - $ 700 per month

The Company issued 100,000 shares during the fiscal period ended April 30, 2005 to Foreground Image Inc. in satisfaction of the Company’s rent obligation for 16 months ending November 30, 2005. The fair value of these shares amounted to $20,000. Thereafter, the Company negotiated with Foreground Image Inc. to have the same premises rented to the Company free of charge for the rest of the financial year ending April 30, 2006. The Company recorded an expense of $3,500 and an equal amount of paid-in capital for this rent free period, which was calculated by multiplying the five months during which the Company would occupy the premises without paying

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

rent by a value of $700 per month that was based on the per-month rent payment amounts during the final months of the preceding lease agreement.

On May 1, 2006, the Company entered into a sub-lease agreement with Foreground Image Inc. for office space. The lease was for a period of 6 months at $ 600 per month with the option to renew. The lease expired on October 31, 2006. Thereafter, the Company negotiated with Foreground Image Inc. to have the premises rented to the Company free of charge for the rest of the financial year until April 30, 2007. Because these two lease arrangements include a lease under which fees are payable by the Company followed immediately by a second lease also with Foreground Image Inc. under which no fees are payable, lease expenses for the twelve month period from May 1, 2006 through April 30, 2007 of $3,600 have been amortized to equal monthly allocations of $300.

NOTE 7. STOCKHOLDERS' EQUITY

The stockholders' equity section of the Company contains the following class of capital stock as of January 31, 2007: Common stock, $0.001 par value; 100,000,000 shares authorized and 42,074,168 shares issued and outstanding.

On September 27, 2006, the Company effected a forward split of the issued and outstanding shares of its common stock on a four to one basis, bringing the total common shares issued and outstanding to 42,074,168. Each holder of the Company’s common stock, as of September 18, 2006, received three additional shares for every outstanding share held on September 18, 2006.

On October 3, 2006, the Company amended its articles of incorporation to increase the authorized shares of its common stock to 100,000,000 shares. There was no increase in the number of shares outstanding as a result of this change.

NOTE 8. STOCK TRANSACTIONS

These transactions have been accounted for based on the fair value of the consideration received.

On September 3, 2004, the Company issued 9,016,667 shares of its common stock to the President of the Company in return for cash.

In November 2004, the Company issued 70,000 shares at $ 0.20 a share in return for cash. In addition to that, on November 25, 2004, the Company issued 100,000 shares of its common stock at $ 0.10 a share to a shareholder of the Company, Foreground Image, Inc, partly in return for the services and partly for cash. (See note 15 for details)

In December 2004, the Company issued 15,000 shares at $ 0.10 a share and 56,525 shares at $ 0.20 a share in return for cash. In addition to that, on December 3, 2004, the Company issued 15,000 shares of its common stock at $ 0.10 a share to a shareholder of the Company, Ryan Lavallee, partly in return for his services and partly for cash.

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

NOTE 9. UNAMORTIZED STOCK-BASED COMPENSATION FOR STOCKHOLDERS

On January 26, 2005, the Company issued 360,000 shares of its common stock to a shareholder of the Company, Lenka Gazova, partly in return for her services and partly for cash. The stock-based compensation portion of this issue has been valued at $ 70,920 as the difference between issued price ($ 0.003 per share) and the grant-date fair value ($ 0.20 per share) and has been amortized over the term of the contract between the Company and Ms. Gazova as follows:

First 36 months - $ 1,600 a month

Next 8 months - $ 1,665 a month

The term of the agreement is 44 months effective from January 1, 2005. The unamortized portion of this is $30,920 as at January 31, 2007 and has been deducted from shareholders’ equity.

On November 25, 2004, the Company issued 100,000 shares of its common stock to a shareholder of the Company, Foreground Image Inc., partly in return for the services and partly for cash. The stock-based compensation portion of this issue has been valued at $ 10,000 as the difference between issued price ($ 0.01 per share) and the grant-date fair value ($ 0.20 per share) and was amortized over the term of the contract between the Company and Foreground Image, Inc as follows:

First 12 months - $ 600 a month

Next 4 months - $ 700 a month

The term of the agreement was 16 months effective from August 1, 2004. The unamortized portion of this stock-based compensation was$Nil as at January 31, 2007.

The total unamortized portion of stock-based compensation for shareholders is $30,920 as at January 31, 2007 and has been deducted from stockholders’ equity.

NOTE 10. WEB HOSTING SERVICE AND “ADMEUP” NETWORK PROGRAMMING SERVICES AGREEMENTS

The Company entered into a web hosting service agreement with one of its shareholders, Lenka Gazova, to install and service the Company’s servers.

In return for these services, on January 26, 2005, the Company issued 360,000 shares of its common stock to Mr. Gazova for cash at $ 0.003 a share where the issue-date share price has been determined as $0.20 a share. The stock-based compensation portion of this issue has been valued at $ 70,920 as the difference between issued price ($ 0.003 per share) and the grant-date fair value. ($ 0.20 per share) and has been amortized over the term of the contract between the Company and Ms. Gazova as follows:

First 36 months - $ 1,600 a month

Next 8 months - $ 1,665 a month

The term of the agreement is 44 months effective from January 1, 2005.

Further, on January 1, 2006, the Company entered into an agreement with Lenka Gazova, a shareholder of the Company, for a period of 12 months for the programming services to be provided on the “AdmeUp Network”. The fees for these services as follows:

a) $ 19,200 in cash or;

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

c) Some combination of a) and b) above that will yield a market value of $ 19,200 based on the foregoing valuation methodology.

The choice of the form in which payment of the Fees will be made is solely that of the Company, and the Company has not yet determined the form in which payment shall be made.

NOTE 11. COMMITMENTS

a) $ 19,200 in cash or;

c) Some combination of a) and b) above that will yield a market value of $ 19,200 based on the foregoing valuation methodology.

The choice of the form in which payment of the Fees will be made shall be solely that of the Company. The Company has not yet determined how the Fees will be paid.

On October 17, 2006, the Company entered into an Independent Contractor Agreement with the Company’s Chief Financial Officer and one of its directors, Jueane Thiessen, pursuant to which Ms. Thiessen shall perform services as the Company’s Chief Financial Officer. The term of the agreement commenced October 17, 2006 and ends April 30, 2007, unless terminated earlier. In consideration for her services, Ms. Thiessen is entitled to receive cash compensation of $1,000 per month or a pro-rated amount for any partial months during which services are performed.

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First Source Data, Inc.

(A Development Stage Company)

Condensed Notes on Interim Financial Statements

For the Nine Months ended January 31, 2007

(Amounts expressed in US dollars)

(Unaudited)

NOTE 12. SUBSEQUENT EVENTS

There have been no subsequent material events which are material to an understanding of the financial statements.

NOTE 13. COMPARATIVE FIGURES

The comparative figures have been re-classified to conform to the current year’s presentation.

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Item 2. Management’s Discussion and Analysis

INTRODUCTION

The following discussion and analysis compares the Company’s results of operations for the nine months ended January 31, 2007 to the same period in 2006. This discussion and analysis should be read in conjunction with the Company’s financial statements and the related notes thereto included elsewhere in this Quarterly Report for the nine months ended January 31, 2007. This Quarterly Report contains certain forward-looking statements and the Company’s future operation results could differ materially from those discussed herein.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report contains forward-looking statements that involve risks and uncertainties. We generally use words such as “believe,” “may,” “could,” “will,” “intend,” “expect,” “anticipate,” “plan,” and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. The Company’s actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the Company’s ability to continue as a going concern, the Company’s ability to find and retain skilled personnel, new regulations and legislation, the Company’s ability to protect its intellectual property rights, its ability to raise additional capital, and such other risks and uncertainties as may be detailed from time to time in its public announcements and filings with the U.S. Securities and Exchange Commission. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and the Company’s future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

Results of operations for the nine months ended January 31, 2007 as compared to the nine months ended January 31, 2006

Revenue

For the nine months ended January 31, 2007, the Company generated revenues of $21,400 from bespoke online marketing activities carried out for a single client. For the nine months ended January 31, 2006, the Company generated $353,000 in revenues. The reduction in revenues for the comparable period is due to lower sales, which in turn was due to management devoting fewer resources toward marketing the Company’s products and services. Instead, the Company’s management focused its attention on three activities: (1) developing the Company’s main software product, the AdMeUp Network, an online software system that is being designed to facilitate online marketing for the Company’s potential customers. The AdMeUp Network is still in the development stage and does not yet generate revenues; (2) obtaining public reporting company status in the United States; and (3) obtaining a quotation on the Over the Counter Bulletin Board service. During the nine month period ending Janu ary 31, 2007, management also devoted some time toward identifying and assessing potential merger or acquisition targets.

Expenses

During the nine months ending January 31, 2007, the Company incurred expenses of $100,540, compared with $114,998 for the same period in 2006. The majority of expenses, $81,086 in the nine months ending January 31, 2007 and $107,833 for the nine months ending January 31, 2006, pertained to selling and administrative activities. The reduction in the selling and administrative expenses in the latter period reflected the reduced expenses associated with marketing activities. The Company nonetheless incurred substantial selling and administrative expenses during the nine month period ending January 31, 2007 as a result of its activities discussed in the paragraph above under the heading ‘Revenue’. Research and development expenses, which pertain to development of the AdMeUp Network, increased from $1,600 for the nine month period ending January 31, 2006 to $12,800 for the nine month period ending January 31, 2007.

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Net Income/Loss

During the nine month period ending January 31, 2007, the Company incurred a net loss of $93,634 compared with a net loss of $56,874 for the nine month period ending January 31, 2006. This loss occurred because the Company generated limited revenues during the nine months ending January 31, 2007. However, part of the loss for the nine month period ending January 31, 2007 was due to an increased research and development expenditure of $12,800 incurred to further develop the AdMeUp Network, which the Company intends to use to generate revenues in the future. The AdMeUp Network is still in development stage and does not yet generate revenues.

Liquidity and Capital Resources

The Company does not yet have an adequate source of reliable, long-term revenue to fund operations. There can be no assurances that the Company will in the future achieve a consistent and reliable revenue stream adequate to support continued operations and development of its main product, the AdMeUp Network or that the AdMeUp Network, when fully developed, would enable the Company to realize revenues sufficient to fund its operations.

As of January 31, 2007, the Company had cash and cash equivalents of $46,639. The Company also had $42,227 in prepaid expenses and deposits, and other receivables of $1,131 on the same date. The Company’s liquidity as of January 31, 2007 should be interpreted in conjunction with a recorded liability of $25,500 that represents revenue that the Company has received in advance for services not yet performed as of January 31, 2007.

The Company’s future capital requirements will depend on a number of factors, including costs associated with development of its main product, the AdMeUp Network, the cost of marketing this system, and the Company’s ability to generate revenues from bespoke online marketing services for customers. At present, the Company lacks sufficient cash and cash equivalents on hand to conduct operations through the end of 2007.

In order to generate adequate cash to continue operations, the Company plans to continue to promote its bespoke online marketing services to potential customers. The Company also plans to continue developing the AdMeUp Network. In addition, the Company intends to identify other marketing companies that are suitable for merger or acquisition. If the Company acquires or merges with another marketing company, the Company may be able to fund the continued development and marketing of the AdMeUp Network by using the cash held by the acquired or merged company or the cash proceeds of ongoing operations of the resulting company.

The Company’s financial statements have been prepared on a continuing operation basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.

Off-balance Sheet Arrangements

None.

Item 3: Controls and Procedures

The Company’s management evaluated, with the help of its Chief Executive Officer and Chief Financial Officer, the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(c) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), as of the end of the period covered by this Quarterly Report on Form 10Q-SB, as required by paragraph (b) of Rules 13a-15 or 15d-15 of the Exchange Act. Based on such evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this Quarterly Report, the Company’s controls and procedures are effective to ensure that information that the Company is required to disclose in reports that it files or submits under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required reasonable assurance that such information is accumulated and communicated to management. The Company’s disclosure controls and procedures include components of internal control over financial reporting. Management's assessment of the effectiveness of the Company’s internal control over financial reporting is expressed at the level of reasonable assurance that the control system, no matter

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how well designed and operated, can provide only reasonable, but not absolute, assurance that the control system's objectives will be met.

PART II-OTHER INFORMATION

Item 1. Legal Proceedings

None.

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

None.

Item 3. Defaults Upon Senior Securities

None.

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

None.

Item 5. Other Information

None.

Item 6. Exhibits

3.1

Amended and Restated Articles of Incorporation, dated July 27, 2004 (included as Exhibit 3.1 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

3.2

Bylaws, dated June 10, 2004 (included as Exhibit 3.2 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

3.3

Amended Bylaws, dated July 28, 2005 (included as Exhibit 3.3 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

3.4

Certificate of Amendment to the Amended and Restated Articles of Incorporation dated October 3, 2006 (included as Exhibit 3.1 to the Form 8-K filed October 10, 2006 and incorporated herein by reference)..

10.1

Written summary of oral contract between the Company and Alexei Diatchine, dated July 25, 2004 (included as Exhibit 10.1 to the Form SB-2/A filed August 14, 2006 and incorporated herein by reference).

10.2

Premises Rental Sub-lease Agreement between the Company and Foreground Image, Inc., dated August 1, 2004 (included as Exhibit 10.1 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

10.3

Written summary of oral contract between the Company and Ryan Lavallee, dated November 1, 2004 (included as Exhibit 10.3 to the Form SB-2/A filed August 14, 2006 and incorporated herein by reference).

10.4

Promissory Note between the Company and I-Dating Solutions, Inc., dated September 8, 2004 (included as Exhibit 10.2 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

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10.5

Web Hosting Service Agreement between the Company and Lenka Gazova, dated January 1, 2005 (included as Exhibit 10.3 to the Form SB-2/A filed June 27, 2006 and incorporated herein by reference).

10.6

Independent Contractor Agreement between the Company and Javed Mawji, dated March 1, 2005 (included as Exhibit 10.3 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

10.7

Independent Contractor Agreement between the Company and Anoma Alwis, dated May 1, 2005 (included as Exhibit 10.4 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

10.8

Amending Agreement to Independent Contractor Agreement between the Company and Javed Mawji, dated October 1, 2005 (included as Exhibit 10.5 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

10.9

Premises Rental Sub-lease Agreement between the Company and Foreground Image, Inc., dated December 1, 2005 (filed herewith).

10.10

Programming Services Agreement between the Company and Lenka Gazova, dated January 1, 2006 (included as Exhibit 10.7 to the Form SB-2/A filed June 27, 2006 and incorporated herein by reference).

10.11

Independent Contractor Agreement between the Company and Javed Mawji, dated March 1, 2006 (included as Exhibit 10.6 to the Form SB-2/A filed April 20, 2006 and incorporated herein by reference).

10.12

Independent Contractor Agreement between the Company and Anoma Alwis, dated May 1, 2006 (included as Exhibit 10.9 to the Form SB-2/A filed June 27, 2006 and incorporated herein by reference).

10.13

Premises Rental Sub-lease Agreement between the Company and Foreground Image, Inc., dated May 1, 2006 (included as Exhibit 10.10 to the Form SB-2/A filed June 27, 2006 and incorporated herein by reference).

10.14

Form of Subscription Agreement entered into with each of the selling shareholders (included as Exhibit 10.13 to the Form SB-2/A filed August 14, 2006 and incorporated herein by reference).

10.15

Independent Contractor Agreement between the Company and Javed Mawji, dated October 12, 2006 (included as Exhibit 10.1 to the Form 8-K filed October 13, 2006 and incorporated herein by reference).

10.16

Independent Contractor Agreement between the Company and Jueane Thiessen, dated October 17, 2006 (included as Exhibit 10.1 to the Form 8-K filed October 23, 2006 and incorporated herein by reference).

10.17 Premises Rental Sub-lease Agreement between the Company and Foreground Image, Inc., dated November 1, 2006 (included as Exhibit 10.1 to the Form 8-K filed November 3, 2006 and incorporated herein by reference).

10.18

Independent Contractor Agreement between the Company and Javed Mawji, dated December 30, 2006 (included as Exhibit 10.1 to the Form 8-K filed January 3, 2007 and incorporated herein by reference).

14.1

Code of Ethics (included as Exhibit 14.1 to the Form SB-2 filed February 7, 2006 and incorporated herein by reference).

31.1

Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2

Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1

Certification of Officers pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FIRST SOURCE DATA, INC.

Date: March 16, 2007

By:/s/ Javed Mawji

Javed Mawji

Chief Executive Officer

Date: March 16, 2007

By:/s/ Jueane Thiessen

Jueane Thiessen

Chief Financial Officer

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EXHIBIT 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Javed Mawji, certify that:

I have reviewed this quarterly report of First Source Data, Inc.;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

The small business issuer's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small business issuer and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including any of its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c)

Disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

The small business issuer's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions):

(a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

Date: March 16, 2007

/s/ Javed Mawji

--------------------------------------

By: Javed Mawji

Chief Executive Officer

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EXHIBIT 31.2

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jueane Thiessen, certify that:

I have reviewed this quarterly report of First Source Data, Inc.;

(a)

(b)

(c)

(a)

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

Date: March 16, 2007

/s/ Jueane Thiessen

---------------------------------------

By: Jueane Thiessen

Chief Financial Officer

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EXHIBIT 32.1

CERTIFICATIONS PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), each of the undersigned officers of First Source Data, Inc., a Delaware corporation (the "Company"), does hereby certify, to such officer's knowledge, that:

The Quarterly Report for the quarter ended January 31, 2007 (the "Form 10-QSB") of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and the information contained in the Form 10-QSB fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: March 16, 2007

/s/ Javed Mawji

-------------------------------------

By: Javed Mawji

Chief Executive Officer

Date: March 16, 2007

/s/ Jueane Thiessen

-------------------------------------

By: Jueane Thiessen

Chief Financial Officer

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UOMO Media (UOMO) Inactive 10QSB2007 Q3 Quarterly report (small business)