MEDIA TECHNOLOGIES, INC.

CIK:0001434111|SEC Filings

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
Consolidated Statements of Operations (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
IncomeStatementAbstract
REVENUES	$ 49,062	$ 39,123	$ 138,798	$ 91,768
OPERATING EXPENSES
Consulting	44,600	30,640	120,328	67,673
Professional fees	2,116	51,263	123,107	75,509
General and administrative	337,717	10,194	437,576	46,455
Impairment of goodwill	2,385,974	0	2,385,974	150,594
Total Operating Expenses	2,770,407	92,097	3,066,985	340,231
LOSS FROM OPERATIONS	(2,721,345)	(52,974)	(2,928,187)	(248,463)
OTHER INCOME (EXPENSES)
Interest income	31	0	31	0
Interest expense	(22,426)	0	(22,426)	0
Acquisition expense	(46,409)	0	(46,409)	0
Total Other Income (Expense)	(68,804)	0	(68,804)	0
LOSS BEFORE TAXES	(2,790,149)	(52,974)	(2,996,991)	(248,463)
PROVISION FOR INCOME TAXES	0	0	0	0
LOSS FROM CONTINUING OPERATIONS	(2,790,149)	(52,974)	(2,996,991)	(248,463)
DISCONTINUED OPERATIONS
Loss from operations of discontinued operations	0	0	0	(131)
Gain on disposal of discontinued operations	0	0	0	24,518
Income from Discontinued Operations net of tax	0	0	0	24,387
NET LOSS	$ (2,790,149)	$ (52,974)	$ (2,996,991)	$ (224,076)
NET LOSS PER COMMON SHARE - BASIC AND DILUTED:
Continuing operations	$ (0.09)	$ 0.00	$ (0.09)	$ (0.01)
Discontinued operations	$ 0.00	$ 0.00	$ 0.00	$ 0.00
NET LOSS PER COMMON SHARE - BASIC AND DILUTED	$ (0.09)	$ 0.00	$ (0.09)	$ (0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - basic and diluted	32,070,192	32,208,261	31,705,510	30,963,956

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
Consolidated Statements of Cash Flows (USD $)	Sep. 30, 2011	Sep. 30, 2010
OPERATING ACTIVITIES
Loss from continuing operations	$ (2,996,991)	$ (248,463)
Income from operations of discontinued operations	0	24,387
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	16,988	596
Impairment of goodwill	2,385,974	150,594
Gain on disposal of discontinued operations	0	(24,387)
Changes in operating assets and liabilities
Accounts receivable	(23,604)	0
Accounts payable and accrued expenses	335,490	19,069
Customer deposits	(5,539)	3,254
Net Cash Used in Operating Activities	(287,682)	(74,950)
INVESTING ACTIVITIES
Cash relinquished in discontinued operations	0	(964)
Purchase of furniture and equipment	(306,010)	(9,291)
Net Cash Used in Investing Activities	(306,010)	(10,255)
FINANCING ACTIVITIES
Proceeds from advances from related parties	113,936	44,776
Repayment of advances from related parties	0	(5,500)
Proceeds from sale of common stock	490,000	100,000
Net Cash Provided by Financing Activities	603,936	139,276
Net change in cash	10,243	54,070
CASH AT BEGINNING OF PERIOD	23,902	964
CASH AT END OF PERIOD	34,145	55,034
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Consolidated Balance Sheets (USD $)	Sep. 30, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash	$ 34,145	$ 23,902
Accounts receivable, net	23,604	0
Total Current Assets	57,749	23,902
EQUIPMENT, Net	309,732	20,709
TOTAL ASSETS	367,481	44,611
CURRENT LIABILITIES
Accounts payable and accrued expenses	532,525	36,061
Customer deposits	0	5,539
Advances from related parties	314,506	210,570
Convertible debt	2,135,000	0
Notes payable	100,000	0
Total Current Liabilities	3,082,031	252,170
TOTAL LIABILITIES	3,082,031	252,170
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, par value $0.001; 25,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock; par value $0.001; 125,000,000 shares authorized; 31,083,240 and 33,480,000 shares issued and outstanding, respectively	31,083	33,480
Additional paid-in capital	559,737	67,340
Accumulated deficit	(3,305,370)	(308,379)
Total Stockholders' Equity (Deficit)	(2,714,550)	(207,559)
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	$ 367,481	$ 44,611