| Nature of Operations and Summary of Significant Accounting Policies | Note 1 - Nature of Operations and
Summary of Significant Accounting Policies Nature of Operations Wall Street Media Co, Inc. (Wall
Street Media, Company we us our) was organized as Mycatalogsonline.com,
Inc. in the state of Nevada on January 6, 2009. In April 2009, the Company changed its name to My Catalogs Online, Inc., and again
in November 2012 to Bright Mountain Holdings, Inc. and in August 2013 to Wall Street Media Co, Inc. The Company maintains the web
domain of Mycatalogsonline.com, but does no business under that name. Basis of Presentation The interim unaudited condensed financial
statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange
Commission (the SEC). In the opinion of the Companys management, all adjustments (consisting of normal recurring
adjustments and reclassifications and non-recurring adjustments) necessary to present fairly the results of operations and cash
flows for the three months ended December 31, 2015, and the financial position as of December 31, 2015, have been made. The results
of operations for such interim periods are not necessarily indicative of the operating results to be expected for the full year. Certain information and disclosures
normally included in the notes to the annual consolidated financial statements have been condensed or omitted from these interim
condensed financial statements. Accordingly, these interim condensed consolidated financial statements should be read in conjunction
with the Audited Consolidated Financial Statements and Notes thereto included in our Report on Form 10-K as filed with the Securities
and Exchange Commission on December 23, 2015. The December 31, 2015 balance sheet is derived from those consolidated financial
statements. Use of Estimates The financial statements are prepared
in accordance with Accounting Principles Generally Accepted in the United States (GAAP). These accounting principles
require the Company to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and
assumptions upon which it relies are reasonable based upon information available at the time that these estimates, judgments and
assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of
the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. The
financial statements would be affected to the extent there are material differences between these estimates and actual results.
In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require managements
judgment in its application. There are also areas in which managements judgment in selecting any available alternative would
not produce a materially different result. Significant estimates include the valuation of equity based transactions and related
services, and the valuation allowance on deferred tax assets. Cash and Cash Equivalents The Company considers financial instruments
with original maturities of three months or less to be cash equivalents. Revenue Recognition In accordance with ASC 605-10, revenue
is recognized when persuasive evidence of an arrangement exists, products are delivered to and accepted by the customer, economic
risk of loss has passed to the customer, the price is fixed or determinable, collection is reasonably assured, and any future obligations
of the Company are insignificant. These criteria are generally met during the period when the development or consulting services
are provided or completed. Income Taxes The Company accounts for income taxes
pursuant to the provisions of ASC 740-10 Accounting for Income Taxes, which requires, among other things, an asset
and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred
tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the
tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management
believes it is more likely than not that the net deferred asset will not be realized. Upon inception, the Company adopted
the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions Basic and Diluted Net Loss per Common
Share Basic net loss per share is computed
by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common
share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive,
potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares
issuable upon exercise of common stock equivalents such as stock options and convertible debt instruments. Potentially dilutive
securities are excluded from the computation if their effect is anti-dilutive. There were no potentially dilutive securities outstanding
as of December 31, 2015. Recent Accounting Pronouncements The Company does not believe these
are any new accounting pronouncements that have been issued that might have a material impact on its financial statements. |
