WRIT Media (WRIT) 10-Q 6 Feb 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Feb. 06, 2017
Document And Entity Information
Entity Registrant Name	Writ Media Group, Inc.
Entity Central Index Key	1,413,547
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		39,673,644
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Current Assets
Cash and cash equivalents	$ 14,163	$ 264
Prepaid expense and other assets	615	615
Total current assets	14,778	879
Long Term Assets
Property, plant and equipment, net		560
Intangible assets	4,760,000
Total Assets	4,774,778	1,439
Current Liabilities
Accounts payable	66,930	126,550
Accrued liability	468,278	173,203
Convertible debts, net of unamortized discount of $0 and $0 respectively	229,175	229,175
Notes payable	12,500	10,800
Notes payable - related party	125,000
Due to related parties		25,452
Deferred Revenue	55,395	55,395
Total current liabilities	957,278	620,575
Total Liabilities	957,278	620,575
Shareholders' Equity (Deficit)
Common stock, $0.00001 par, 20,000,000,000 shares authorized, 38,923,644 and 16,810,994 shares issued and outstanding, respectively	389	168
Additional paid in capital	7,517,536	2,566,390
Accumulated deficit	(3,700,425)	(3,185,694)
Total shareholders' equity (deficit)	3,817,500	(619,136)
Total Liabilities and Shareholders' equity (deficit)	4,774,778	1,439
Series A Preferred Stock [Member]
Shareholders' Equity (Deficit)
Series A convertible preferred stock, $.00001 par, 130,000,000 shares authorized, 2,400 and 2,500 shares issued and outstanding, respectively
Series B convertible preferred stock, $.00001 par, 70,000,000 shares authorized, none issued and outstanding
Series C convertible preferred stock, $.00001 par, 20,000,000 shares authorized, none issued and outstanding
Series B Preferred Stock [Member]
Shareholders' Equity (Deficit)
Series A convertible preferred stock, $.00001 par, 130,000,000 shares authorized, 2,400 and 2,500 shares issued and outstanding, respectively
Series B convertible preferred stock, $.00001 par, 70,000,000 shares authorized, none issued and outstanding
Series C convertible preferred stock, $.00001 par, 20,000,000 shares authorized, none issued and outstanding
Series C Preferred Stock [Member]
Shareholders' Equity (Deficit)
Series A convertible preferred stock, $.00001 par, 130,000,000 shares authorized, 2,400 and 2,500 shares issued and outstanding, respectively
Series B convertible preferred stock, $.00001 par, 70,000,000 shares authorized, none issued and outstanding
Series C convertible preferred stock, $.00001 par, 20,000,000 shares authorized, none issued and outstanding

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Current Liabilities
Unamortized discount on Convertible debts	$ 0	$ 0
Shareholders' Equity
Common stock, Par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	20,000,000,000	20,000,000,000
Common stock, shares issued	38,923,644	16,810,994
Common stock, shares outstanding	38,923,644	16,810,994
Series A Preferred Stock [Member]
Shareholders' Equity
Preferred stock, Par value	$ .00001	$ 0.00001
Preferred stock, authorized	130,000,000	130,000,000
Preferred stock, issued	2,400	2,500
Preferred stock, outstanding	2,400	2,500
Series B Preferred Stock [Member]
Shareholders' Equity
Preferred stock, Par value	$ .00001	$ 0.00001
Preferred stock, authorized	70,000,000	70,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Series C Preferred Stock [Member]
Shareholders' Equity
Preferred stock, Par value	$ .00001	$ 0.00001
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Operating Costs and Expenses
General and administrative	$ 156,740	$ 96,689	$ 472,006	$ 512,488
Total operating expenses	156,740	96,689	472,006	512,488
Loss from operations	(156,740)	(96,689)	(472,006)	(512,488)
Other income (expense)
Interest expense	(14,630)	(23,375)	(42,725)	(152,297)
Net loss	$ (171,370)	$ (120,064)	$ (514,731)	$ (664,785)
Net loss per share:
Basic	$ (0.01)	$ (0.05)	$ (0.02)	$ (0.36)
Diluted	$ (0.01)	$ (0.05)	$ (0.02)	$ (0.36)
Weighted average common shares outstanding:
Basic	33,347,699	2,328,253	27,677,339	1,868,902
Diluted	33,347,699	2,328,253	27,677,339	1,868,902

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash Flows From Operating Activities
Net loss	$ (514,731)	$ (664,785)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	560
Shares issued for services	71,500	249,185
Amortization of debt discount	4,475	104,136
Changes in operating assets and liabilities:
Prepaid expenses		(145)
Accounts payable	(59,620)	13,452
Accrued liabilities	296,250	273,160
Net cash used in operating activities	(201,566)	(24,997)
Cash Flows From Financing Activities
Advances from related party	69,636	12,506
Repayment of advances from related party	(20,088)
Proceeds from sale of stock	110,917	9,500
Borrowing on notes payable	5,000	3,000
Borrowings from related party	50,000
Net cash provided by financing activities	215,465	25,006
Net decrease in cash and cash equivalents	13,899	9
Cash and cash equivalents, beginning of period	264	255
Cash and cash equivalents, end of period	14,163	264
Supplemental disclosure information:
Income taxes paid
Interest paid
Non-cash financing activities:
Common Shares issued for asset purchase	4,760,000
Common Shares issued for convertible debt and accrued interest	4,475	5,750
Reclassification of related party accounts payable to accounts payable		112,500
Reclassification of accounts payable to note payable		255,044
Debt discount due to beneficial conversion feature	4,475
Common Shares issued for accrued compensation		133,250
Common Shares issued for series A convertible preferred stock	$ 53	$ 11

1. Organization, Business Opera

1. Organization, Business Operations And Significant Accounting Policies	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 1 - Organization, Business Operations And Significant Accounting Policies	NOTE 1 – ORGANIZATION, BUSINESS OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES Organization and Business Operations WRIT Media Group, Inc. (“we”, “our”, “WRIT” or the “Company”) was incorporated in Delaware on March 9, 2007 to produce films, television programs and similar entertainment programs for various media formats. The Company has three wholly owned subsidiaries: Front Row Networks, Inc., Amiga Games, Inc., and Retro Infinity, Inc. Front Row Networks, Inc. is a content creation company which produces, acquires and distributes live concerts in 3D for initial worldwide digital broadcast into digitally-enabled movie theaters, TV and mobile streaming providers. On August 19, 2013, the Company acquired certain software through the purchase of 100% of Amiga Games Inc. in exchange for 500,000 shares. Amiga Games Inc. became WRIT’s wholly-owned subsidiary. Amiga Games Inc. licenses classic pre-Windows computer game libraries and adapts and republishes the most popular titles for smartphones, modern game consoles, PCs, tablets, and other television streaming devices. WRIT also established a new company, Retro Infinity Inc., to publish and brand games that were not originally released for Amiga brand computers. The two companies tap into the growing “retro gaming” marketplace, building on the "Amiga", “Atari”, and “MS-DOS” brands, delivering retro-gaming titles adapted for modern devices as well as merchandise featuring brands and characters from the games. On January 22, 2014, the Company changed the name of the corporation to WRIT Media Group, Inc. On June 20, 2016, WRIT Media Group, Inc. acquired Pandora Venture Capital Corp, a Florida based company. The Company acquired Pandora Venture Capital Corp through the issuance of 14,000,000 restricted shares of its Common Stock to the shareholders of Pandora, in exchange for all issued and outstanding shares of Pandora, making Pandora a wholly-owned subsidiary of WRIT Media Group, Inc. On June 21, 2016 the Board of Directors of WRIT Media Group, Inc. appointed Boris Nayflish as an independent director to serve on the Board. The appointment was effective as of June 20, 2016. The Board was not required to increase its size due to the existence of vacancies on the Board at the time of appointment. The Board does not expect at this time that Mr. Nayflish will receive any cash or stock compensation as director. The accompanying unaudited interim financial statements of WRIT Media Group, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the year ended March 31, 2016 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements as reported in the annual report on Form 10-K have been omitted.

2. Going Concern

2. Going Concern	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 2 - Going Concern	NOTE 2 – GOING CONCERN As reflected in the accompanying consolidated financial statements, the Company has an accumulated deficit of $3,700,425 which includes a loss of $514,731 at December 31, 2016 and a working capital deficiency of $942,500. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The consolidated financial statements have been prepared on a going concern basis and do not include any adjustments that might result from outcome of this uncertainty. Although management is currently attempting to implement its business plan, and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful.

3. Notes Payable

3. Notes Payable	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 3 - Notes Payable	NOTE 3 – NOTES PAYABLE Note payable consists of the following: December 31, 2016 March 31, 2016 Notes payable $ 12,500 $ 10,800 Notes payable – related party $ 125,000 $ — EAM Delaware LLC – related party On August 4, 2016, the Company borrowed $50,000 from related party EAM Delaware LLC. The maturity date of this note is August 5, 2017 and this loan bears an interest rate of 12% per annum from the issuance date. The note is still outstanding as of December 31, 2016. On September 30, 2016 the Company converted related party advances by EAM Delaware LLC of $75,000 into a note payable. The maturity date of this note is October 1, 2017 and this loan bears an interest rate of 12% per annum from the issuance date. The note is still outstanding as of December 31, 2016. Falmouth Street Holdings, LLC On March 2, 2015, the Company borrowed $7,500 from Falmouth Street Holdings, LLC. The maturity date of this note is August 29, 2015 and this loan bears an interest rate of 12% per annum from the issuance date. The note is still outstanding as of December 31, 2016. As of today the debt is still outstanding and therefore is in default. JL Shaw On June 22, 2016, the Company borrowed $5,000 from JL Shaw. The maturity date of this note is June 22, 2017 and this loan bears an interest rate of 8% per annum from the issuance date. The note is still outstanding as of December 31, 2016. S. Karban On June 9, 2015, the Company borrowed $3,300 from S. Karban and $3,000 was received with the remaining $300 recorded as debt discount. The maturity date of this note is June 22, 2015, and this loan bears an interest rate of 10% per annum from the issuance date. As of March 31, 2016, the note is still outstanding and therefore in default. On April 4, 2016 the Company entered into a debt modification agreement with debt holder S. Karban. The modified note is convertible into common stock at a price of $0.10, bears an extend maturity date of October 14, 2016, and an interest rate of 8% per annum. The principal amount of the modified note is $4,475 which includes the original principal balance of $3,300 plus accrued interest of $1,175. The Company evaluated the application of ASC 470-50 and ASC 470-60 and concluded that the addition of a conversion feature constituted a debt extinguishment rather than a trouble debt restructuring. No gain or loss was resulted from the debt extinguishment since the fair value the new debt was the same as the old debt. See more discussion about the new debt in Note 4. On April 5, 2016, this note was converted in its entirety and has been surrendered to the Company.

4. Convertible Debt

4. Convertible Debt	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 4 - Convertible Debt	NOTE 4 – CONVERTIBLE DEBT Convertible debt outstanding, net of debt discount of $0 on March 31, 2016 $ 229,175 Add: reclassification from non-convertible debts to convertible debts 3,300 Add: reclassification from accrued interest to convertible debts 1,175 Less: debt discount originated from beneficial conversion feature (4,475 ) Less: principal converted into common stock (4,475 ) Add: amortization of debt discount 4,475 Convertible debt outstanding, net of debt discount of $0 on December 31, 2016 $ 229,175 During the nine months ended December 31, 2016, $4,475 of convertible debts was converted into 44,750 shares of common stock. Magna Group LLC/Hanover Holdings On July 10, 2014, the Company borrowed a convertible promissory note of $22,000 from Hanover Holdings I, LLC. The maturity date of this note is July 10, 2015. This loan bears an interest rate of 12% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. The conversion price is 55% multiplied by the lowest value weighted average price (VWAP) for the Common Stock during the 5 trading day period ending on the latest complete trading day prior to the conversion date. The conversion price has a floor price of $.008 per share. An amount equal to $2,500 of the principal balance of the note was converted into 4,545 common shares on February 4, 2015, leaving a principal balance of $19,500 as of March 31, 2015. An amount equal to $3,000 of the principal balance of the note was converted into 8,021 common shares on April 1, 2015. An amount equal to $2,750 of the principal balance of the note was converted into 17,857 common shares on April 27, 2015, leaving a principal balance of $13,750 as of December 31, 2016. As of today the debt is still outstanding and therefore is in default. On September 10, 2014, the Company borrowed a convertible promissory note of $33,000 from Magna Equities II, LLC. The maturity date of this note is September 10, 2015. This loan bears an interest rate of 12% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. The conversion price is 55% multiplied by the lowest value weighted average price (VWAP) for the Common Stock during the 5 trading day period ending on the latest complete trading day prior to the conversion date. The conversion price has a floor price of $.008 per share. As of December 31, 2016, the note is not converted yet and is still outstanding. As of today the debt is still outstanding and therefore is in default. On October 28, 2014, the Company borrowed a convertible promissory note of $25,000 from Magna Equities II, LLC. The maturity date of this note is October 28, 2015. This loan bears an interest rate of 12% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. The conversion price is 55% multiplied by the lowest value weighted average price (VWAP) for the Common Stock during the 5 trading day period ending on the latest complete trading day prior to the conversion date. The conversion price has a floor price of $.008 per share. As of December 31, 2016, the note is not converted yet and is still outstanding. As of today the debt is still outstanding and therefore is in default. On December 17, 2014, the Company borrowed a convertible promissory note of $14,000 from Magna Equities II, LLC. The maturity date of this note is December 17, 2015. This loan bears an interest rate of 12% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. The conversion price is 55% multiplied by the lowest value weighted average price (VWAP) for the Common Stock during the 5 trading day period ending on the latest complete trading day prior to the conversion date. The conversion price has a floor price of $.008 per share. As of December 31, 2016, the note is not converted yet and is still outstanding. As of today the debt is still outstanding and therefore is in default. The Company evaluated the embedded conversion feature within the above Magna convertible notes payable under ASC 815-15 and ASC 815 -40 and determined embedded conversion feature does not meet the definition of a liability. Then the Company evaluated the conversion feature for a beneficial conversion feature at inception. The Company accounted for the intrinsic value of a Beneficial Conversion Feature inherent to the convertible notes payable and a total debt discount of $126,010 was recorded on the Magna notes. The debt discount had been fully amortized as of March 31, 2016. KBM Worldwide Inc. On June 3, 2014, the Company borrowed $53,000 from KBM Worldwide Inc. The maturity date of this note is March 5, 2015. This loan bears an interest rate of 8% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. After 180 days following the date of the note, KBM Worldwide Inc. has the right to convert all or a portion of the remaining outstanding principal amount of this note into shares of the Company’s Common Stock. The conversion price will be 55% multiplied by the lowest three trading prices for the Common Stock during the 10 trading day period ending on the latest complete trading day prior to the conversion date. The conversion price has a floor price of $.008 per share. As of December 31, 2016, KBM Worldwide Inc. had converted debt principal of $5,735 into 8,193 common shares, bringing the note balance to $47,265. As of today the debt is still outstanding and therefore is in default. On July 29, 2014, the Company borrowed a convertible promissory note of $32,500 from KBM Worldwide, Inc. The maturity date of this note is May 1, 2015. This loan bears an interest rate of 8% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. After 180 days following the date of the note, KBM Worldwide Inc. has the right to convert all or a portion of the remaining outstanding principal amount of this note into shares of the Company’s Common Stock. The conversion price is 55% multiplied by the average of the lowest 3 trading day prices for the Common Stock during the 10 trading day period ending on the latest complete trading day prior to the conversion date. On July 30, 2014, an amendment to the note defined a floor to the conversion price to be $.008 per share. As of December 31, 2016, the note is not converted yet and is still outstanding. As of today the debt is still outstanding and therefore is in default. On September 15, 2014, the Company borrowed a convertible promissory note of $63,000 from KBM Worldwide, Inc. The maturity date of this note is June 17, 2015. This loan bears an interest rate of 8% per annum. Interest on overdue principal after default accrues at an annual rate of 22%. After 180 days following the date of the note, KBM Worldwide Inc. has the right to convert all or a portion of the remaining outstanding principal amount of this note into shares of the Company’s Common Stock. The conversion price is 55% multiplied by the average of the lowest 3 trading day prices for the Common Stock during the 10 trading day period ending on the latest complete trading day prior to the conversion date. The conversion price has a floor price of $.008 per share. As of December 31, 2016, the note is not converted yet and is still outstanding. As of today the debt is still outstanding and therefore is in default. The Company evaluated the embedded conversion feature within the above KBM convertible notes payable under ASC 815-15 and ASC 815-40 and determined embedded conversion feature does not meet the definition of a liability. Then the Company evaluated the conversion feature for a beneficial conversion feature at inception. The Company accounted for the intrinsic value of a Beneficial Conversion Feature inherent to the convertible notes payable and a total debt discount of $148,500 was recorded on the KBM notes. The debt discount had been fully amortized as of March 31, 2016. S. Karban On April 4, 2016 the Company entered into a debt modification agreement with debt holder S Karban (see Note 3). The modified note is convertible into common stock at a price of $0.10, bears an extend maturity date of October 14, 2016, and an interest rate of 8% per annum. The principal amount of the modified note is $4,475 which includes the original principal balance of $3,300 plus accrued interest of $1,175, and on April 5, 2016, it was converted into 44,750 common shares. This note has been converted in its entirety and has been surrendered to the Company. The Company evaluated the application of ASC 470-50 and ASC 470-60 and concluded the addition of a conversion feature constituted a debt extinguishment rather than a troubled debt restructuring, with the old debt written off and the new debt initially recorded at fair value with a new effective interest rate. No gain or loss was resulted from the debt extinguishment since the fair value the new debt was the same as the old debt. The Company evaluated the embedded conversion feature within the S. Karban convertible note payable under ASC 815-15 and ASC 815-40 and determined embedded conversion feature does not meet the definition of a liability. Then the Company evaluated the conversion feature for a beneficial conversion feature at inception. The Company accounted for the intrinsic value of a beneficial conversion feature inherent to the convertible note payable and a total debt discount of $4,475 was recorded on the S. Karban note. During the nine months ended December 31, 2016, debt discount of $4,475 was amortized, and the unamortized debt discount is $0 as of December 31, 2016. Other Convertible Notes Convertible debts were issued September 2009, bearing interest at a rate of 8% per annum, due in one year, and are convertible at $2.00 per share, and the total balance outstanding as of March 31, 2016 was $660. The note is in default. As of December 31, 2016, other convertible notes have a principal balance of $660.

5. Preferred Stock

5. Preferred Stock	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 5 - Preferred Stock	NOTE 5 – PREFERRED STOCK Each share of Series A preferred stock is convertible at any time into the number of common shares equal to four times the sum of all outstanding common and Series B and Series C preferred shares at the time of conversion divided by the number of Series A preferred shares. Series A shareholders may receive dividends as declared by the Board. The Company has 2,400 Series A preferred shares outstanding at December 31, 2016. On December 16, 2016, EAM Delaware LLC, a Delaware Limited Liability company controlled by Eric Mitchell, the current President and Chairman of WRIT Media Group, Inc., converted 100 Preferred Series A shares into 5,308,434 common shares. Each share of Series B preferred stock is convertible into the number of common shares equal to the designated $2 initial price of the Series B preferred stock divided by one hundred times the par value of the common stock subject to adjustments as may be determined by the Board of Directors from time to time. Series B shareholders may receive dividends as declared by the Board. The Company has no Series B shares outstanding at December 31, 2016. Each share of Series C preferred stock is convertible at any time into 500 common shares. Series C holders may receive dividends as declared by the Board. The Company has no Series C shares outstanding at December 31, 2016. The Company evaluated the application of ASC 815-15 and ASC 815-40 for the embedded conversion feature of preferred stock listed above and concluded the embedded conversion option should be classified as equity.

6. Equity

6. Equity	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 6 - Equity	NOTE 6 – EQUITY Common Shares issued for convertible notes and accrued interest: During the nine months ended December 31, 2016, $4,475 of convertible debt was converted into 44,750 shares of common stock. See Note 4. Common Shares issued for cash During the nine months ended December 31, 2016, the Company issued 2,099,466 common shares for cash totaling $110,917. Common Shares issued for services During the nine months ended December 31, 2016, the Company issued 660,000 common shares for services totaling $71,500. Common Shares issued for acquisition of Pandora Venture Capital Corp During the nine months ended December 31, 2016, the Company issued 14,000,000 common shares to acquire the common stock of Pandora Venture Capital Corp. The 14,000,000 shares were valued using the $0.34 per share closing price on the acquisition date of June 20, 2016, for total purchase price consideration of $4,760,000. See Note 8. Warrants Issued Under a subscription agreement dated April 21, 2014, the Company issued 16,667 restricted common shares to Irwin Zalcberg for cash totaling $200,000. Along with the subscription agreement, the Company issued warrants to purchase 20,833 shares of common stock. The warrants expired on April 22, 2016 and have an exercise price of $50.00. The warrants do not entitle the holder to any voting rights or other rights as a shareholder of the Company. As of December 31, 2016, the warrants remain un-exercised and have been forfeited to the Company. The following table summarizes the Company’s warrant activity for the period ended December 31, 2016: Number of Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Intrinsic Units value Outstanding and exercisable at March 31, 2016 20,833 $ 50.00 .06 $ - Issuance - - - - Exercises - - - - Forfeitures (20,833) (50.00) - - Outstanding and exercisable at December 31, 2016 - $ - - $ -

7. Related Party Balances And T

7. Related Party Balances And Transactions	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 7 - Related Party Balances And Transactions	NOTE 7 – RELATED PARTY BALANCES AND TRANSACTIONS During the nine months ended December 31, 2016, the Company incurred $270,000 compensation expense for Eric Mitchell, the Company CEO and CFO. As of December 31, 2016, the accrued compensation owed to Eric Mitchell is $365,452. During the nine months ended December 31, 2016, the Company borrowed $50,000 from related party EAM Delaware LLC. The maturity date of this note is August 5, 2017 and this loan bears an interest rate of 12% per annum from the issuance date. During the nine months ended December 31, 2016, an aggregate amount of $69,636 was advanced by EAM Delaware LLC and aggregate amount of $20,088 in advances was repaid to EAM Delaware LLC, the advance is due on demand with 0% interest. On December 31, 2016 the Company converted advances by EAM Delaware LLC in the amount of $75,000 into a note payable with 12% interest rate and maturity date of October 1, 2017. As of December 31, 2016 in total $0 in advances were owed to EAM Delaware LLC. During the nine months ended December 31, 2016, the Company issued 13,720,000 shares of common stock to Boris Nayflish in a share exchange agreement for his common shares and ownership interest in Pandora Venture Capital Corp. As a result of the transaction, Mr. Nayflish owns more than 5% of the Company’s issued and outstanding shares and is a related party.

8. Assets Acquisition And Intan

8. Assets Acquisition And Intangible Assets	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 8 - Assets Acquisition And Intangible Assets	NOTE 8 – ASSETS ACQUISITION AND INTANGIBLE ASSETS On June 20, 2016, the Company acquired Pandora Venture Capital Corp (“Pandora”) through the issuance of 14,000,000 restricted shares of its common stock to the shareholders of Pandora, in exchange for all outstanding shares of Pandora, making Pandora a wholly-owned subsidiary of the Company. The common shares were valued using the $0.34 per share closing price on the acquisition date for total purchase price consideration of $4,760,000. The assets acquired through the acquisition include the following: systems software, application software, webpage content, URLs, Blockchain source code, and all ancillary intellectual property. The acquisition did not qualify as a business combination under ASC 805-10 and has been accounted for as a regular asset purchase. The issuance of the 14,000,000 shares did not represent a change of control event due to the issued and outstanding Series A preferred shares. See Note 5.

9. Subsequent Events

9. Subsequent Events	9 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Note 9 - Subsequent Events	NOTE 9 – SUBSEQUENT EVENTS On January 11, 2017, the Company issued 750,000 common shares for cash totaling $30,000.

1. Organization, Business Ope15

1. Organization, Business Operations And Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2016
Organization Business Operations And Significant Accounting Policies Policies
Organization and Business Operations	Organization and Business Operations WRIT Media Group, Inc. (“we”, “our”, “WRIT” or the “Company”) was incorporated in Delaware on March 9, 2007 to produce films, television programs and similar entertainment programs for various media formats. The Company has three wholly owned subsidiaries: Front Row Networks, Inc., Amiga Games, Inc., and Retro Infinity, Inc. Front Row Networks, Inc. is a content creation company which produces, acquires and distributes live concerts in 3D for initial worldwide digital broadcast into digitally-enabled movie theaters, TV and mobile streaming providers. On August 19, 2013, the Company acquired certain software through the purchase of 100% of Amiga Games Inc. in exchange for 500,000 shares. Amiga Games Inc. became WRIT’s wholly-owned subsidiary. Amiga Games Inc. licenses classic pre-Windows computer game libraries and adapts and republishes the most popular titles for smartphones, modern game consoles, PCs, tablets, and other television streaming devices. WRIT also established a new company, Retro Infinity Inc., to publish and brand games that were not originally released for Amiga brand computers. The two companies tap into the growing “retro gaming” marketplace, building on the "Amiga", “Atari”, and “MS-DOS” brands, delivering retro-gaming titles adapted for modern devices as well as merchandise featuring brands and characters from the games. On January 22, 2014, the Company changed the name of the corporation to WRIT Media Group, Inc. On June 20, 2016, WRIT Media Group, Inc. acquired Pandora Venture Capital Corp, a Florida based company. The Company acquired Pandora Venture Capital Corp through the issuance of 14,000,000 restricted shares of its Common Stock to the shareholders of Pandora, in exchange for all issued and outstanding shares of Pandora, making Pandora a wholly-owned subsidiary of WRIT Media Group, Inc. On June 21, 2016 the Board of Directors of WRIT Media Group, Inc. appointed Boris Nayflish as an independent director to serve on the Board. The appointment was effective as of June 20, 2016. The Board was not required to increase its size due to the existence of vacancies on the Board at the time of appointment. The Board does not expect at this time that Mr. Nayflish will receive any cash or stock compensation as director. The accompanying unaudited interim financial statements of WRIT Media Group, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the year ended March 31, 2016 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements as reported in the annual report on Form 10-K have been omitted.

3. Notes Payable (Tables)

3. Notes Payable (Tables)	9 Months Ended
	Dec. 31, 2016
Notes Payable Tables
Notes Payable	December 31, 2016 March 31, 2016 Notes payable $ 12,500 $ 10,800 Notes payable – related party $ 125,000 $ —

4. Convertible Debt (Tables)

4. Convertible Debt (Tables)	9 Months Ended
	Dec. 31, 2016
Convertible Debt Tables
Convertible Debt	Convertible debt outstanding, net of debt discount of $0 on March 31, 2016 $ 229,175 Add: reclassification from non-convertible debts to convertible debts 3,300 Add: reclassification from accrued interest to convertible debts 1,175 Less: debt discount originated from beneficial conversion feature (4,475 ) Less: principal converted into common stock (4,475 ) Add: amortization of debt discount 4,475 Convertible debt outstanding, net of debt discount of $0 on December 31, 2016 $ 229,175

6. Equity (Tables)

6. Equity (Tables)	9 Months Ended
	Dec. 31, 2016
Equity Tables
Warrant Activity	Number of Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Intrinsic Units value Outstanding and exercisable at March 31, 2016 20,833 $ 50.00 .06 $ - Issuance - - - - Exercises - - - - Forfeitures (20,833) (50.00) - - Outstanding and exercisable at December 31, 2016 - $ - - $ -

2. Going Concern (Details Narra

2. Going Concern (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Going Concern Details Narrative
Accumulated Deficit	$ (3,700,425)		$ (3,700,425)		$ (3,185,694)
Net loss	(171,370)	$ (120,064)	(514,731)	$ (664,785)
Working Capital Deficiency	$ 942,500		$ 942,500

3. Notes Payable (Details)

3. Notes Payable (Details) - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Notes Payable Details
Note payable	$ 12,500	$ 10,800
Notes payable - related party	$ 125,000

4. Convertible Debt (Details)

4. Convertible Debt (Details) - USD ($)	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Convertible Debt Details
Convertible debt outstanding, Beginning	$ 229,175
Add: reclassification from non-convertible debts to convertible debts	3,300
Add: reclassification from accrued interest to convertible debts	1,175
Less: debt discount originated from beneficial conversion feature	(4,475)
Less: principal converted into common stock	(4,475)
Add: amortization of debt discount	4,475	$ 104,136
Convertible debt outstanding, Ending	$ 229,175

6. Equity (Details)

6. Equity (Details)	9 Months Ended
	Dec. 31, 2016$ / sharesshares
Equity Details
Number of Units, Outstanding Beginning Balance	20,833
Number Of Units, Issuance
Number of Units, Exercises
Number of Units, Forfeitures	(20,833)
Number of Units, Outstanding Ending Balance
Weighted-Average Exercise Price, Outstanding Beginning Balance | $ / shares	$ 50
Weighted-Average Exercise Price, Issuance | $ / shares
Weighted-Average Exercise Price, Exercises | $ / shares
Weighted-Average Exercise Price, Forfeitures | $ / shares	$ 50
Weighted-Average Remaining Contractual Term (in years), Outstanding Beginning Period	22 days