**FORM
      10-KSB**








**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D. C. 20549**





**[X]**
            **ANNUAL
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934 For the fiscal year ended June 30, 2007****OR****[   ]**
            **TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934**







**Commission
      file number 333-130767**







**CHINA
      YOUTV CORP.**





(Formerly
      Admax Resources, Inc.)


(Exact
      name of registrant as specified in its charter)








**Nevada**
            **N/A**(State
                or other jurisdiction of incorporation or organization)
            (IRS
                Employer Identification No.)







**Oceanic
      Business Centre 2300**


**1066
      West Hastings Street**


**Vancouver,
      British Columbia**


**Canada
      V6E 3X2**





(Address
      of principal executive offices, including zip code.)






**(604)
      601-8274**





(Registrant's
      telephone number, including area code)








Securities
      registered pursuant to Section 12(b) of the
      Act:  **None**





Securities
      registered pursuant to Section 12(g) of the Act:  **Common
      Stock, $0.00001 par value**





Check
      if
      the registrant is a well-known seasoned issuer, as defined in Rule 405 of the
      Securities Act.


**YES
      [   ]    NO [X]**





Check
      if
      the registrant is not required to file reports pursuant to Section 13 or Section
      15(d) of the Act.


**YES
      [   ]    NO [X]**





Check
      whether the registrant is a shell company (as defined in Rule 12b-2 of the
      Act).   **YES [  ]  NO
      [X]**


Check
      whether the Issuer (1) 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 Registrant was required to file such reports), and (2) has been subject
      to such filing requirements for the past 90 days. **YES [X] NO
      [   ]**





Check
      if
      no disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is
      not
      contained herein and will not be contained, to the best of Registrant’s
      knowledge, in definitive proxy or information statements incorporated by
      reference in Part III of this Form 10-KSB or any amendment to this Form
      10-KSB.   YES [X]   NO [  ]





State
      the
      aggregate market value of the voting and non-voting common equity held by
      non-affiliates computed by reference to the price at which the common equity
      was
      sold, or the average bid and asked price of such common equity, as of
**October 10, 2007: $0.49.**Aggregate market
      value: $6,644,400.





State
      the
      number of shares outstanding of each of the issuer's classes of common equity,
      as of**September 30, 2007: 24,160,000**












**TABLE
      OF CONTENTS**





**PART
                  I**Item
                  1. Description of Business
              3Item
                  2. Description of Properties
              12Item
                  3. Legal Proceedings
              12Item
                  4. Submission of Matters to a Vote of Security
                  Holders
              12**PART
                  II**Item
                    5. Market for Common Equity; Related Stockholder Matters and
                    SmallBusiness
                    Issuer Purchases of Equity Securities
              13Item
                  6. Management's Discussion and Analysis or Plan of
                  Operation
              14Item
                  7. Financial Statements
              29Item
                  8. Changes in and Disagreements with Accountants on Accounting
                  andFinancial
                  Disclosure
              29Item
                  8A. Controls and Procedures
              30Item
                  8B. Other Information
              31**PART
                  III**Item
                  9. Directors, Executive Officers, Promoters, and Control Persons;Compliance
                  with Section 16(a) of the Exchange Act
              32Item
                  10. Executive Compensation
              34Item
                  11. Security Ownership of Certain Beneficial Owners and Managementand
                  Related Stockholder Matters
              37Item
                  12. Certain Relationships and Related
                  Transactions
              38Item
                  13. Exhibits
              39Item
                  14. Principal Accountant Fees and
                  Services
              40**Signature
                  Page**
              42











**PART
      I**






**ITEM
      1. DESCRIPTION OF
      BUSINESS**




**GENERAL
      DESCRIPTION AND DEVELOPMENT OF BUSINESS.**





We
      are a
      start-up, Exploration Stage Corporation and have not yet generated or realized
      any revenues from our business activities. We were incorporated in the State
      of
      Nevada on May 18, 2005.  Initially, we have the right to conduct
      exploration activities on one property, but we do not own any interest in any
      property.  The property consists of one mineral claim containing 622
      acres located in the Similkameen region of British Columbia,
      Canada.  The one property consists of one mineral claim.  We
      had intended to explore for gold on the property.  We haven't found
      any commercially viable mineral deposit, or a reserve, yet. We do not plan
      to
      have further exploration on this property.




On
      March
      16, 2007, we have signed a Definitive Agreement with HuaJu NetMedia to set
      up a
      Joint Venture in China and set foot in the Chinese Internet video sharing field.
      The formation of the Joint Venture is in process. According to the Agreement,
      we
      own 51% of the joint venture company and will provide the required working
      capital for the Joint Venture. HuaJu will be in charge of the daily operation
      of
      the Joint Venture. HuaJu has agreed to conduct its video sharing business only
      through the Joint Venture, and has agreed to contribute its web site,
      www.CnBoo.com and customer contracts to the Joint Venture.




www.CnBoo.com
      ("CnBoo") is the online video site belonging to the Joint Venture established
      by
      China YouTV Corp. and HuaJu. It is a video viewing site and social networking
      site that allows users to create their own profiles, post videos, and comment
      on
      each other's posts. The CnBoo web site is similar to YouTube
      (www.YouTube.com), the No. 1 online video site in operation. Within 2
      years, CnBoo already has over 1.2 million members and over 2 million pieces
      of
      original digital video (DV) shorts.




**Office
      Location**





The
      Company has its office at Oceanic Business Centre at 2300, 1066 West Hastings
      Street, Vancouver, British Columbia, Canada V6E 3X2. The Company's joint venture
      in China has an office at 10F, Section A, Building 1, Genetic International
      Center, Chaoyang District, Beijing, China for about 4500 square
      feet.





**Discontinued
      Mining Operations**





We
      were
      incorporated in the State of Nevada on May 18, 2005.  Initially, we
      had the right to conduct exploration activities on one property, but we do
      not
      own any interest in any property.  The property consists of one
      mineral claim containing 622 acres located in the Similkameen region of British
      Columbia, Canada.  The one property consists of one mineral
      claim.  We had intended to explore for gold on the
      property.  We haven’t found any commercially viable mineral deposit,
      or a reserve, yet. We do not plan to have further exploration on this property,
      hence we discontinued this mining operation.






**CURRENT
      BUSINESS**




On
      March
      16, 2007, we have signed a Definitive Agreement with HuaJu NetMedia to set
      up a
      Joint Venture in China and set foot in the Chinese Internet video sharing field.
      The formation of the Joint Venture is in the process.  According to
      the Agreement, we own 51% of the joint venture company and will provide the
      required working capital for the Joint Venture. HuaJu will be in charge of
      the
      daily operation of the Joint Venture. HuaJu has agreed to conduct its video
      sharing business only through the Joint Venture, and has agreed to contribute
      its web site, www.CnBoo.com and customer contracts to the Joint
      Venture.




www.CnBoo.com
      ("CnBoo") is the online video site belonging to the Joint Venture established
      by
      China YouTV Corp. and HuaJu. It is a video viewing site and social networking
      site that allows users to create their own profiles, post videos, and comment
      on
      each other's posts. The CnBoo web site is similar to YouTube
      (www.YouTube.com), the No. 1 online video site in operation. Within 2
      years, CnBoo already has over 1.2 million members and over 2 million pieces
      of
      original digital video (DV) shorts.




To
      increase membership and CnBoo's brand name awareness, HuaJu has worked both
      on-line and off-line.




On-line:
      HuaJu has signed several agreements to enhance its on-line content, such as
      an
      agreement for CCTV's TV program "Exploring High and Low", an agreement with
      ManGoCity, a travel company, an agreement with Megadia to host a Humor channel
      on CnBoo web site, and the recently signed agreement with Music Nation and
      VVSky
      to add more music on its web site and the recent advertisement exchange
      agreement with 3g4a's subsidiary: Unlimited Chance Technology Development Co.
      Ltd.




Off-line:
      HuaJu has signed several agreements to promote its 3G space cards, such as
      the
      agreement with Gome Electrical Appliances Holding Ltd., the largest chain store
      operator of electrical appliances in China to distribute its 3G digital space
      cards to Gome customers; an agreement with HURRAY, a NASDAQ listed company,
      for
      the launch of 3G experience terminals in Gome's stores; an agreement with
      ManGoCity, and a promotion agreement with Z-Card. HuaJu also has exclusive
      right
      from AIDS Prevention Education Project for Chinese Youth to negotiate with
      investors to install LED displays in the colleges and universities across China.
      All LEDs will have HuaJu and CnBoo's logo on it.




The
      Company has shown increasing popularity as its CnBoo web sites has recently
      been
      ranked No.1 on Microsoft Live, No. 1 on Google China, No.7 on BaiDu, No.11
      on
      Yahoo China and No.12 on Google China when searching for the keywords: on-line
      video, and on-line video sharing web sites. The Company also has launched its
      new version for enhanced functionality.




The
      Company has changed its name to China YouTV this year to reflect its new
      business operations: the fast growing video sharing web site market in
      China.







**PRODUCTS,
      SERVICES, MARKETS AND METHODS OF DISTRIBUTION**





(1)
            Products
                and Services




www.CnBoo.com
      ("CnBoo") is the online video site belonging to the Joint Venture established
      by
      China YouTV Corp. and HuaJu. It is a video viewing site and social networking
      site that allows users to create their own profiles, post videos, and comment
      on
      each other's posts. The CnBoo web site is similar to YouTube
      (www.YouTube.com), the No. 1 online video site in operation. Within 2
      years, CnBoo already has over 1.2 million members and over 2 million pieces
      of
      original digital video (DV) shorts.




­For
      individual
      use:




We
      provide a platform where people can easily upload and share video clips on
      www.CnBoo.com and across the Internet through websites, mobile devices, blogs,
      and emails.




Everyone
      can enjoy and share videos on CnBoo. People can see first-hand accounts of
      current events, find videos to suffice for their interests, and hunt the novelty
      and quirky. CnBoo provides a rich and colorful stage to people to create their
      own production.




Site
      features include, among others:




l
            Online
                Capture, users with a webcam and Flash software are able to instantly
                record video responses or normal videos onto the site rather than
                having
                to prerecord then upload the video;




l
            Video
                and Album, users can elect to share their videos or album publicly
                or
                privately with friends and family upon
                upload;




l
            Subscriptions
                allow users to keep track of their favorite users’ new
                videos




l
            Video
                storage and personal space, CnBoo offers all members a stable and
                easy-to-use platform for storage and publishing. All users’ information
                and video files are guaranteed to have a life-long
                service.






­For
      commercial
      use:




All
      the
      CnBoo service is free currently and is supported by advertising. CnBoo provides
      an exhibition platform for enterprises to demonstrate their services and
      products line. Potential customers and business partners can have a better
      understanding by watching these demonstrations.







(2)
            Method
                of Distribution and Marketing







To
      increase membership and CnBoo's brand name awareness, HuaJu has worked both
      on-line and off-line. On-line: HuaJu has signed several agreements to enhance
      its on-line contents; Off-line: HuaJu has signed several agreements to promote
      its 3G space cards; signed an agreement with HURRAY, a NASDAQ listed company,
      for the launch of 3G experience terminals in Gome's stores; signed an agreement
      with ManGoCity, and a promotion agreement with Z-Card, an exclusive right from
      AIDS Prevention Education Project to promote its brand name.






**EMPLOYEES
      OF SUBSIDIARIES**





The
      Company's Joint Venture Company has about 20 full time employees, and part
      time
      employees which varied in number from time to time.








**COMPETITIVE
      CONDITIONS**





n
            Leading
                technology in video conversion, support mainstream video formats:
                WMV,RM,MOV,MPEG
                in converting
                to optimized format of FLV and improve the speed and quality of
                viewing.





n
            Building
                the application of the mainstream RIA under WEB2.0 based on FLASH
                and
                AJAX.PHP technologies, featured in powerful functions, high interaction
                and user friendly experience.





n
            Unique
                online video space/storage, release and upload systems as well as
                the
                disposal of network security, server layout and setting up the bigger
                and
                extensible platform for video
                interaction.





n
            The
                application of WAP technology, development and application of 3G
                technology for mobile phones, realization of interaction between
                mobile
                phone and network, thus applying for users in
                interaction





n
            Strategic
                partners from all over the country can bring potentially millions
                of
                members to CnBoo, based on our recent
                experience.





n
            The
                leading network video core technology, 3G conversion technology as
                well as
                the core technologies of online and offline interacting systems enable
                all
                users to access video interaction on their PC, cell phone and TV
                terminals.





n
            Video
                sharing, network album, travel through video, video networking, video
                information classification (Video Posts), 1.5 million ground magazines
                as
                well as the first Chinese online video magazine, travel satellite
                TV
                platform, integration of resources to build CnBoo’s unique profitability
                mode.





n
            The
                realization of interconnection between network platform and mobile
                phone
                network platform is truly made with the application of WAP technology
                plus
                nationwide promotion of CnBoo’s WAP platform for mobile phones, whereupon,
                making it the first network platform for video interaction in China,
                and
                presenting its unique advantages in the full range of
                businesses.








**COMPLIANCE
      WITH RELATED LAWS AND REGULATIONS**





In
      China,
      the Company relies on the advice of Chinese legal counsel to maintain compliance
      with all laws, rules, regulations and government policies in China. The value
      added services such as online video sharing services belongs to the telecom
      industry which is subject to extensive government regulation, which regulations
      have been changing rapidly, and there is no assurance that the Company will
      not
      be adversely impacted by such regulations in the future.




(a)     Local
      Regulations




The
      Company cannot determine to what extent its future operations and earnings
      may
      be affected by new legislation, new regulations or changes in existing
      regulations on a local level in Canada.




(b)     National
      Regulations




The
      Company cannot determine to what extent its future operations and earnings
      may
      be affected by new legislation, new regulations or changes in existing
      regulations on a national level.




The
      value
      of the Company's investments in the PRC may be adversely affected by significant
      political, economic and social uncertainties in the PRC. Any changes in policies
      by the government of the PRC could adversely affect the Company by, among other
      factors, changes in laws, regulations or the interpretation thereof,
      confiscatory taxation, restrictions on currency conversion, the expropriation
      or
      nationalization of private enterprises, or political relationships with other
      countries.







**ITEM
      2. DESCRIPTION OF PROPERTIES**




HuaJu
      currently maintains a leased office of approximately 4500 square feet at: 10F,
      Section A, Building 1, Genetic International Center, Chaoyang District, Beijing,
      China.  The term of the lease is one year at a monthly rental of $6000
      from a non-affiliated landlord.  The Company leases an office in
      Canada at Oceanic Business Centre at 2300, 1066 West Hastings Street, Vancouver,
      British Columbia, Canada. The term of the lease in Vancouver is for one year
      at
      a monthly rental of approximately $400 from a non-affiliated
      landlord.




(a)
      Real
      Estate: None




(b)
      Equipment, library, and furniture at June 30, 2007: None.








**ITEM
      3. LEGAL PROCEEDINGS**





In
      the
      ordinary course of business, the Company may be involved in legal proceedings
      from time to time.  As of the date of this report, there is no legal
      proceeding to report.








**ITEM
      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY
      HOLDERS**





None











**PART
      II**




**ITEM
      5. MARKET FOR COMMON STOCK, RELATED STOCKHOLDER MATTERS AND
      SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES**




(a)
      The
      Company’s common stock is traded on the Over-the-Counter Bulletin Board
      maintained by the NASD under the trading symbol “CYTV.OB”, formerly traded under
      the trading symbol “AMXU.OB”. The following table sets forth high and low bid
      prices of the common stock for years ended June 30, 2007 as quoted by the NASD
      over-the-counter-bulletin board as follows:







**2007**
            **Bid
                (U.S. $)****HIGH**
            **LOW**First
                Quarter
            n/a
            n/aSecond
                Quarter
            n/a
            n/aThird
                Quarter
            2.85
            0.20Fourth
                Quarter
            1.24
            0.54




Quotations,
      if made, represent only prices between dealers and do not include retail
      markups, markdowns or commissions and accordingly, may not represent actual
      transactions.




Because
      of the rules and regulations governing the trading of small issuers’ securities,
      the Company's securities are presently classified as "Penny Stock", a
      classification which places significant restrictions upon broker-dealers
      desiring to make a market in these securities. It has been difficult for
      management to interest broker-dealers in our securities and it is anticipated
      that these difficulties will continue until the Company is able to obtain a
      listing on NASDAQ, at which time market makers may trade its securities without
      complying with the stringent requirements. The existence of market
      quotations should not be considered evidence of an "established public trading
      market."  The public trading market is presently limited as to the
      number of market markers in Company stock and the number of states within which
      its stock is permitted to be traded.





Holders




(b)
      As of
      September 18, 2007, China YouTV Corp. had approximately 10 shareholders of
      record of its common stock, approximately 2039 shareholders held the Company’s
      common stock in street name.





Dividends




(c)
      No
      dividends on outstanding common stock have ever been paid. The Company does
      presently have any plans regarding payment of dividends in the foreseeable
      future.





**(d)
      Securities Authorized for Issuance under Equity Compensation
      Plans**





The
      Company adopted a stock option plan on Form S-8 pursuant to which it may issue
      options to purchase 5,000,000 shares of common stock or 5,000,000 shares of
      common stock to directors, officers, employees, consultants and vendors for
      valid consideration.





**Recent
      Sales of Unregistered Securities and Use of Proceeds.**





None





**Purchasers
      of Equity Securities by the Small Business Issuer and Affiliated
      Purchases**





None








**ITEM
      6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
      OPERATION**




As
      more
      fully described in Item 1 – General Description and Development of Business, on
      March 16, 2007, the Company has signed a Definitive Agreement with HuaJu
      NetMedia to set up a Joint Venture in China and set foot in the Chinese Internet
      video sharing field. The formation of the Joint Venture is in process. According
      to the Agreement, we own 51% of the joint venture company and will provide
      the
      required working capital for the Joint Venture. HuaJu will be in charge of
      the
      daily operation of the Joint Venture. HuaJu has agreed to conduct its video
      sharing business only through the Joint Venture, and has agreed to contribute
      its web site, www.CnBoo.com and customer contracts to the Joint
      Venture.







**Critical
      Accounting Policies**





Our
      discussion and analysis is based upon our consolidated financial statements,
      which have been prepared in accordance with accounting principles generally
      accepted in the United States.  The preparation of these financial
      statements requires us to make estimates and judgments that affect the reported
      amounts of assets, liabilities, revenues and expenses, and related disclosure
      of
      contingent assets and liabilities. On an on-going basis, we evaluate our
      estimates, including those related to revenue recognition, accounts receivable
      and allowance for doubtful accounts, intangible and long-lived assets, and
      income taxes. We base our estimates on historical experience and on various
      other assumptions that are believed to be reasonable under the circumstances,
      the results of which form the basis for making judgments about the carrying
      values of assets and liabilities that are not readily apparent from other
      sources. Actual results may differ from these estimates under different
      assumptions or conditions.




An
      accounting policy is deemed to be critical if it requires an accounting estimate
      to be made based on assumptions about matters that are highly uncertain at
      the
      time the estimate is made, and if different estimates that reasonably could
      have
      been used or changes in the accounting estimate that are reasonably likely
      to
      occur could materially change the financial statements. We believe the following
      critical accounting policies reflect our more significant estimates and
      assumptions in the preparation of our financial statements:




(a)
      Accounting Estimates





The
      preparation of financial statements in conformity with US GAAP requires
      management to make estimates and assumptions that affect the reported amounts
      of
      assets and liabilities and disclosure of contingent assets and liabilities
      at
      the date of the financial statements and the reported amounts of revenues and
      expenses during the reporting period. Areas where management uses subjective
      judgment include fixed assets and related party transactions. Actual results
      can
      differ from those estimates and assumptions.





(b)
      Foreign Currency Transactions





The
      Company's management is based outside of the United States of America. It
      maintains its accounting records in U.S. dollars, as follows:





At
      the
      transaction date, each asset, liability, revenue and expense is translated
      into
      U.S. dollars by the use of the exchange rate in effect at that date. At the
      period end, monetary assets and liabilities are re-measured by using the
      exchange rate in effect at that date. The resulting foreign exchange gains
      and
      losses are included in operations and are not material.





(c)
      Cash
      and Cash Equivalents





Cash
      equivalents comprise certain highly liquid instruments with a maturity of three
      months or less when


purchased.
      The Company did not have any cash equivalents as of June 30, 2007 and
      2006.





(d)
      Long-Lived Assets Impairment





Long-lived
      assets are reviewed for impairment when circumstances indicate the carrying
      value of an asset may not be recoverable in accordance with the guidance
      established in Statement of Financial Accounting Standards (“SFAS”) No. 144,
*Accounting for the Impairment or Disposal of Long-Lived Assets*. For
      assets that are to be held and used, an impairment loss is recognized when
      the
      estimated undiscounted cash flows associated with the asset or group of assets
      is less than their carrying value. If impairment exists, an adjustment is made
      to write the asset down to its fair value, and a loss is recorded as the
      difference between the carrying value and fair value. Fair values are determined
      based on discounted cash flows or internal and external appraisals, as
      applicable. Assets to be disposed of are carried at the lower of carrying value
      or estimated net realizable value.





(e)
      Income Taxes





The
      Company has adopted SFAS No. 109, *Accounting for Income Taxes*, which
      requires the Company to recognize deferred tax liabilities and assets for the
      expected future tax consequences of events that have been recognized in the
      Company’s financial statements or tax returns using the liability method. Under
      this method, deferred tax liabilities and assets are determined based on the
      differences between the financial statement carrying amounts and tax bases
      of
      assets and liabilities using enacted tax rates in effect in the years in which
      the differences are expected to reverse.





(f)
      Fair
      Value of Financial Instruments





Fair
      value estimates of financial instruments are made at a specific point in time,
      based on relevant information about financial markets and specific financial
      instruments. As these estimates are subjective in nature, involving
      uncertainties and matters of significant judgment, they cannot be determined
      with precision. Changes in assumptions can significantly affect estimated fair
      value.





The
      carrying value of cash, accounts payable and accrued liabilities, and due to
      related party approximate their fair value because of the short-term nature
      of
      these instruments. Management is of the opinion that the Company is not exposed
      to significant interest or credit risks arising from these financial
      instruments.





The
      Company operates outside of the United States of America and is exposed to
      foreign currency risk due to the fluctuation between the currency in which
      the
      Company operates in and the U.S. dollar.





(g)
      Comprehensive Income





The
      Company has adopted SFAS No. 130, *Reporting Comprehensive Income*, which
      establishes standards for reporting and display of comprehensive income, its
      components and accumulated balances. The Company is disclosing this information
      on its Statement of Stockholders' Equity (Deficiency). Comprehensive income
      comprises equity except those resulting from investments by owners and
      distributions to owners.





(h)
      Intangible Assets





The
      Company adopted SFAS No. 142, *Goodwill and Other Intangible Assets*,
      which requires that goodwill and intangible assets with indefinite life are
      not
      amortized but rather tested at least annually for impairment. Intangible assets
      with a definite life are required to be amortized over their useful life or
      estimated useful life.





The
      Company does not have any goodwill nor intangible assets with indefinite or
      definite life since inception.





(i)
      Advertising Expenses





The
      Company expenses advertising costs as incurred. The Company did not incur any
      advertising expenses for the years ended June 30, 2007 and 2006.





(j)
      Related Party Transactions





A
      related
      party is generally defined as (i) any person that holds 10% or more of the
      Company’s securities and their immediate families, (ii) the Company’s
      management, (iii) someone that directly or indirectly controls, is controlled
      by
      or is under common control with the Company, or (iv) anyone who can
      significantly influence the financial and operating decisions of the Company.
      A
      transaction is considered to be a related party transaction when there is a
      transfer of resources or obligations between related parties.








**Forward-looking
      statements**





Statements
      contained in this report include "forward-looking statements" within the meaning
      of such term in Section 27A of the Securities Act of 1933, as amended (the
      "Securities Act") and Section 21E of the Exchange
      Act.  Forward-looking statements involve known and unknown risks,
      uncertainties and other factors which could cause actual financial or operating
      results, performances or achievements expressed or implied by the
      forward-looking statements not to occur or be realized. Forward-looking
      statements generally are based on our best estimates of future results,
      performances or achievements, based upon current conditions and the most recent
      results of the companies involved and their respective industries.
      Forward-looking statements may be identified by the use of forward-looking
      terminology such as "may," "will," "could," "project," "expect," "believe,"
      "estimate," "anticipate," "intend," "continue," "potential," "opportunity"
      or
      similar terms, variations of those terms or the negative of those terms or
      other
      variations of those terms or comparable words or expressions.





Potential
      risks and uncertainties include, among other things, such factors
      as:





·
            our
                business strategies and future plans of
                operations,





·
            general
                economic conditions in the United States and elsewhere, as well as
                the
                economic conditions affecting the industries in which we
                operate,





·
            the
                market acceptance and amount of sales of our products and
                services,





·
            our
                historical losses,





·
            the
                competitive environment within the industries in which we
                compete,





·
            our
                ability to raise additional capital, currently needed for expansion,
                the
                other factors and information discussed in other sections of this
                report
                and in the documents incorporated by reference in this
                report.




Persons
      reading this report should carefully consider such risks, uncertainties and
      other information, disclosures and discussions which contain cautionary
      statements identifying important factors that could cause actual results to
      differ materially from those provided in the forward-looking statements. We
      undertake no obligation to publicly update or revise any forward-looking
      statements, whether as a result of new information, future events or
      otherwise.







**WORKING
      CAPITAL NEEDS**





During
      the last fiscal year, our working capital needs arose primarily from more
      activities in China.








**LIQUIDITY
      AND CAPITAL RESOURCES**





The
      Company had cash capital of $7,922 at June 30 2007. The Company has no other
      capital resources other than the ability to use its common stock to achieve
      additional capital raising. Other than cash capital, its other assets would
      be
      illiquid.




At
      the
      fiscal year-end it had $165,876 in current assets, consisting $7,922
      cash****and $157,954 prepaid
      expenses****and current liabilities of $98,915, consisting
      primarily of cash account payable and due to related parties.





**Changes
      in Financial Condition:**




At
      June
      30, 2007, the Company's assets were $165,876, compared to $17,523 at June 30,
      2006. The current assets totaled $165,876 at 2007 year-end, compared to $17,523
      at 2006 year-end. Net cash used for operating activities was ($51,232) for
      the
      year ended June 30, 2007, compared to ($24,719) at fiscal year-end 2006. The
      Company had $7,922 in cash by the year-end compared to $17,523 a year
      ago.  Total liabilities at year-end 2007 were $98,915 compared to
      $25,489 at 2006 year-end.





These
      changes are largely due to more activities in China.





**Need
      for Additional Financing:**




The
      Company does not have sufficient capital to meet its short-term
      cash needs.and it will have to seek loans or equity placements to cover its
      cash needs to continue operations.




No
      commitments to provide additional funds have been made by management or other
      stockholders. Accordingly, there can be no assurance that any additional funds
      will be available to the Company to allow it to cover operation
      expenses.


If
      the
      Company couldn’t generate revenue in the future or its operations are
      unprofitable, the Company will be forced to develop another line of business,
      or
      to finance its operations through the sale of its assets, or enter into the
      sale
      of stock for additional capital, none of which may be feasible when needed.
      The
      Company has neither specific management ability, nor financial resources or
      plans to enter any other business as of this date.




The
      effect of inflation has not had a material impact on its operation, nor is
      it
      expected to in the immediate future.




The
      Company does not hold any derivatives or investments that are subject to market
      risk. The carrying values of any financial instruments, approximate fair value
      as of those dates because of the relatively short-term maturity of these
      instruments which eliminates any potential market risk associated with such
      instruments.







**RESULTS
      OF OPERATIONS FOR THE YEAR ENDED JUNE 30, 2007 AS COMPARED TO THE YEAR ENDED
      JUNE 30, 2006.**




Revenues.
      The Company has not generated any revenue yet.




Operating
      Expenses. The Company incurred operating expenses of $162,075 in 2007, compared
      to operating expenses of $27,540 in 2006.




Loss
      from
      Operations. Loss from operations for 2007 was $162,075 compared to the 2006
      operating loss of  $27,540. This was caused largely by more activities
      in China during this fiscal year.




Net
      Loss.
      Net Loss to Common Stockholders in 2007 was $161,753 in contrast to a Net Loss
      of ($27,540) in 2006. This was caused largely by more activities in China during
      this fiscal year.





Loss
      per
      Share. Loss per share was ($0.01) in 2007 compared to loss per share of ($0.00)
      in 2006.





**Future
      Trends:**




The
      marketing of a video sharing site mainly consists of:





1.
            Personal
                blog


2.
            Audi/video
                publishing and subscribing


3.
            Offer
                of 3G content services


4.
            Video
                storage and personal space


5.
            Online
                video ads


6.
            Business
                video demonstration


7.
            Download
                of digital programs


8.
            Charges
                for wireless value added services  and personal value added
                services





It
      is
      estimated that the scale of domestic market will reach US $15 billion by 2010.
      Future trends for this industry include the following aspects:





•
            Podcast,
                video sharing and cyberspace community. These communities grow up
                quietly
                but quickly, being expected to become a next Internet
                hotspot.





•
            ITunes
                and RSS automatic subscription change people’s way to use the Internet,
                while the creation of a gathering zone for personal videos complies
                with
                the next trend of netizens’ use of
                Internet.





•
            With
                upcoming full services of 3G and wireless network, digital content
                market
                encounters “vacuum”.





•
            “Grass-root”
                culture, revitalize idol in commoner, and will speed up the development
                of
                video sharing service.





Competition
      also becomes fierce in this industry. Main competitors include professional
      podcast video sharing sites such as other video sharing websites and
      classification websites with texts and pictures; portal and other entertainment
      sites such as Google Video, Yahoo Video,, Sohu,  My Music, My Show
      etc.








**Off-Balance
      Sheet Arrangements**




None




**Recent
      Accounting Pronouncements:**




In
      February 2007, the FASB issued SFAS No. 159 *“**The Fair Value Option
      for Financia**l Assets and Financial Liabilities - Including an amendment
      of FASB Statement No. 115”*, which permits entities to choose to measure
      many financial instruments and certain other items at fair value at specified
      election dates. A business entity is required to report unrealized gains and
      losses on items for which the fair value option has been elected in earnings
      at
      each subsequent reporting date. This statement is expected to expand the use
      of
      fair value measurement. SFAS No. 159 is effective for financial statements
      issued for fiscal years beginning after November 15, 2007, and interim periods
      within those fiscal years. The Company has not yet determined the impact of
      applying SFAS No. 159.





In
      February 2007, the Financial Accounting Standards Board (“FASB”) issued FSP FAS
      158-1.  This FASB Staff Position (FSP) updates the illustrations
      contained in Appendix B of FASB No. 87, “*Employers’ Accounting for
      Pensions”,*Appendix B of FASB Statement No. 88, “*Employers’ Accounting
      for Settlements and Curtailments of Defined Benefit Pension Plans and for
      Termination Benefits”,*and Appendix C of FASB Statement No. 106,
“*Employers’ Accounting for Postretirement Benefits Other Than Pensions”,*to reflect the provisions of FASB Statement No. 158, “*Employers’
Accounting for Defined Benefit Pension and Other Postretirement
      Plans”.*This FSP also amends the questions and answers contained in FASB Special
      Reports, “*A Guide to Implementation of Statement 87 on Employers’ Accounting
      for Pensions, A Guide to Implementation of Statement 88 on Employers’ Accounting
      for Settlements and Curtailments of Defined Benefit Pension Plans and for
      Termination Benefits,*and *A Guide to Implementation of Statement 106 on
      Employers’ Accounting for Postretirement Benefits Other Than Pensions”,*and
      incorporates them into Statements 87, 88, and 106 as Appendixes E, C, and F,
      respectively. This FSP supersedes those FASB Special Reports. Finally, this
      FSP
      makes conforming changes to other guidance and technical corrections to
      Statement 158. This FSP does not provide additional implementation guidance
      for
      Statement 158 beyond the conforming changes, nor does it change any of the
      provisions of Statement 158. Currently the Company does not have any employers’
Pensions and Postretirement Benefits which require the adoption of this
      Statement, so the Statement will have no impact on the financial
      statements.







**Risk
      Factors**




This
      report and other reports filed by us contained certain forward-looking
      statements within the meaning of the Private Securities Litigation Reform act
      of
      1995.  Actual results could differ materially from those projected in
      the forward-looking statements as a result of certain uncertainties set forth
      below and elsewhere in this report, as well as additional risks and
      uncertainties of which we are currently unaware.  See Item 6.
“Management’s Discussion and Analysis or Plan of Operation – Forward-Looking
      Statements”.







**Risks
      Relating to Our Operations**




**Need
      for
      additional financing.**




We
      need
      additional funds to cover our operating expenses and tp implement our business
      plan.  Management can give no assurance the funds


so obtained will
      be sufficient to fully implement the business plan, or that a full
      implementation of such business plan will result in the Company's


profitability.    If
      additional funds are raised though the issuance of equity or debt securities,
      such additional securities may have powers,


designations, preferences
      or rights senior to our currently outstanding securities and, in the case of
      additional equity securities, the ownership of our


existing shareholders
      will be diluted.  No assurances can be given that we will be able to
      raise any additional financing.  Any inability to obtain
      required


financing
      on
      sufficiently favorable terms could have a material adverse effect on our
      business, results of operations and financial condition.




We
      had prior
      operating losses and are implementing a new business plan.




We
      are
      seeking funding to implement our business plan and our liability to provide
      working capital to the Joint Venture with HuaJu.




The
      Company’s
      proposed operations are subject to all of the risks inherent in the expansion
      of
      an early-stage business enterprise, including higher-than


expected
      expenses and uncertain revenues.  The likelihood of the success of the
      Company must be considered in light of the problems, expenses,
      difficulties,


complications
      and delays frequently encountered in connection with the expansion of an
      early-stage business.




**We
      have a
      limited operating history and consequently face significant risks and
      uncertainties.**




We
      initiated
      our current business strategy in 2007.  As a result of our limited
      operating history, and our reporting responsibilities as a


public company, we may
      need to expand operational, financial and administrative systems and control
      procedures to enable us to further train and


manage our
      employees and coordinate the efforts of our accounting, finance, marketing,
      and
      operations departments.




**We
      lack
      business diversification.**




The
      Company’s
      prospects for success are dependent upon the success of CnBoo web
      site.  We expect to finance our future operations through the
      sale


of assets
      or the
      sale of equity or debt securities in order to raise additional capital, none
      of
      which may be feasible when needed.  Unless we are able to
      raise


substantial
      amounts of additional capital, we will not have the resources to diversify
      our
      operations or benefit from the possible spreading of risks or
      offsetting


of
      losses.







**Risks
      Related to Conducting Business in China**




Since
      our
      main operation is in China, we will be subject to the following
      risks:





**China's
      governmental and regulatory reforms may impact our ability to do business in
      China.**





Since
      1978, the Chinese government has been in a state of evolution and reform. The
      reforms have resulted in and are expected to continue to result in significant
      economic and social development in China. Many of the reforms are unprecedented
      or experimental and may be subject to change or readjustment due to a variety
      of
      political, economic and social factors. Multiple government bodies are involved
      in regulating and administrating affairs in the telecommunications industry,
      among which the MII, the National Development and Reform Commission (“NDRC”) and
      the State Asset Supervisory Administrative Commission (“SASAC”) play the leading
      roles. These government agencies have broad discretion and authority over all
      aspects of the telecommunications and information technology industry in China,
      including but not limited to, setting the telecommunications tariff structure,
      granting carrier licenses and frequencies, approving equipment and products,
      granting product licenses, specifying technological standards as well as
      appointing carrier executives, all of which may impact our ability to do
      business in China.





While
      we
      anticipate that the basic principles underlying the reforms should remain
      unchanged, any of the following changes in China’s political and economic
      conditions and governmental policies could have a substantial impact on our
      business:





·
            the
                promulgation of new laws and regulations and the interpretation of
                those
                laws and regulations;




·
            inconsistent
                enforcement and application of the telecommunications industry’s
                rules and regulations by the Chinese government between foreign and
                domestic companies;




·
            the
                restructuring of telecommunications carriers in
                China;




·
            the
                introduction of measures to control inflation or stimulate
                growth;




·
            the
                introduction of new guidelines for tariffs and service rates, which
                affect
                our ability to competitively price our products and
                services;




·
            changes
                in the rate or method of taxation;




·
            the
                imposition of additional restrictions on currency conversion and
                remittances abroad; or




·
            any
                actions that limit our ability to develop, manufacture, import or
                sell our
                products in China, or to finance and operate our business in
                China.





Under
      China’s current regulatory structure, the online video services that we offer in
      China must meet government and industry rules and regulations. In addition,
      we
      must ensure that the quality and content of the services will comply with
      related rules and regulations. MII and/or other related authorizations might
      perform spot checks to track and supervise the quality and content of our
      services.  Any determination that our services fail to comply with
      applicable rules and regulations could result in a revocation of our license,
      which would have a material adverse effect on our business.





**China's
      changing economic environment may impact our ability to do business in
      China.**





Since
      1978, the Chinese government has been reforming the economic system in China
      to
      increase the emphasis placed on decentralization and the utilization of market
      forces in the development of China’s economy. These reforms have resulted in
      significant economic growth. However, any economic reform policies or measures
      in China may from time to time be modified or revised by the Chinese government.
      While we may be able to benefit from the effects of some of these policies,
      these policies and other measures taken by the Chinese government to regulate
      the economy could also have a significant negative impact on economic conditions
      in China, which would result in a negative impact on our business.





China’s
      economic environment has been changing as a result of China’s entry, in
      December of 2001, into the World Trade Organization (the “WTO”). Entry into
      the WTO required that China reduce tariffs and eliminate non-tariff barriers,
      including quotas, licenses and other restrictions by early 2005, and we cannot
      predict the impact of these changes on China’s economy. Moreover, although
      China’s entry into the WTO and the related relaxation of trade restrictions may
      lead to increased foreign investment, it may also lead to increased competition
      in China’s markets from other foreign companies. If China’s entry into the WTO
      results in increased competition or has a negative impact on China’s economy,
      our business could suffer. In addition, although China is increasingly according
      foreign companies and foreign investment enterprises established in China the
      same rights and privileges as Chinese domestic companies as a result of its
      admission into the WTO, special laws, administrative rules and regulations
      governing foreign companies and foreign investment enterprises in China may
      still place foreign companies at a disadvantage in relation to Chinese domestic
      companies and may adversely affect our competitive position.




**Uncertainties with respect to the Chinese legal system may adversely affect
      us.**





We
      conduct our business in China primarily through our subsidiary incorporated
      in
      China. Our subsidiary is generally subject to laws and regulations applicable
      to
      foreign investment in China. Accordingly, our business will be affected by
      China’s developing legal system. Since 1978, many new laws and regulations
      covering general economic matters have been promulgated in China, and government
      policies and internal rules promulgated by governmental agencies may not be
      published in time, or at all. As a result, we may operate our business in
      violation of new rules and policies without having any knowledge of their
      existence. In addition, there are uncertainties regarding the interpretation
      and
      enforcement of laws, rules and policies in China. The Chinese legal system
      is based on written statutes, and prior court decisions have limited
      presidential value. Because many laws and regulations are relatively new and
      the
      Chinese legal system is still evolving, the interpretations of many laws,
      regulations and rules are not always uniform. Moreover, the relative
      inexperience of China’s judiciary in many cases creates additional uncertainty
      as to the outcome of any litigation, and the interpretation of statutes and
      regulations may be subject to government policies reflecting domestic political
      changes. Finally, enforcement of existing laws or contracts based on existing
      law may be uncertain and sporadic, and it may be difficult to obtain swift
      and
      equitable enforcement, or to obtain enforcement of a judgment by a court of
      another jurisdiction. Any litigation in China may be protracted and result
      in
      substantial costs and diversion of resources and management’s
      attention.





**We
      are subject to risks relating to currency rate fluctuations and exchange
      controls.**





Because
      most of our sales will be made in China and denominated in Renminbi, and as
      the
      Renminbi is no longer fixed against the US Dollar and the Renminbi-US Dollar
      exchange rate could float, resulting in depreciation or appreciation relative
      to
      the U.S. dollar, any such currency rate fluctuations could adversely affect
      our
      sales and subject as to volatility in our financial reporting.





**Restrictions
      on currency exchange may limit our ability to receive and use our revenues
      effectively.**





Because
      substantially all of our revenues will be denominated in RMB, the Chinese
      currency, any restrictions on currency exchange may limit our ability to use
      revenues generated in RMB to fund any business activities we may have outside
      China or to make dividend payments in U.S. dollars. The principal
      regulation governing foreign currency exchange in China is the Foreign Currency
      Administration Rules (1996), as amended. Under these rules, RMB are freely
      convertible for trade and service-related foreign exchange transactions, but
      not
      for direct investment, loan or investment in securities outside China unless
      the
      prior approval of the State Administration of Foreign Exchange is obtained.
      Although China's government regulations now allow greater convertibility of
      RMB for current account transactions, significant restrictions still remain.
      For
      example, foreign exchange transactions, including principal payments in respect
      of foreign currency-denominated obligations, remain subject to significant
      foreign exchange controls and the approval of the State Administration of
      Foreign Exchange. These limitations could affect our ability to obtain foreign
      exchange for capital expenditures. We cannot be certain that China's regulatory
      authorities will not impose more stringent restrictions on the convertibility
      of
      RMB, especially with respect to foreign exchange transactions.






**Securities
      Risks**







**Difficulty
      of trading and obtaining
      quotations for Common Stock.**





Our
      Common Stock is currently quoted on the Over-the-Counter Bulletin Board
      (“OTCBB”) under the symbol “CYTV.OB” and was previously traded under the symbol
“AMXU.OB.”  The bid and asked prices for our Common Stock have
      fluctuated significantly.  As a result, an investor may find it
      difficult to dispose of, or to obtain accurate quotations of the price of,
      our
      securities. This severely limits the liquidity of the Common Stock, and would
      likely have a material adverse effect on the market price of the Common Stock
      and on our ability to raise additional capital.








**Penny
      Stock Regulation.**





Our
      Common Stock is subject to Rule 15g-9 under the Exchange Act. This rule imposes
      additional sales practice requirements on broker-dealers that sell such
      securities to persons other than established customers and “accredited
      investors.”  For transactions covered by Rule 15g-9, a broker-dealer
      must make a special suitability determination for the purchaser and have
      received the purchaser's written consent to the transaction prior to sale.
      Consequently, the rule could affect the ability of broker-dealers to sell our
      securities and could affect the ability of purchasers to sell any of our
      securities in the secondary market.







**Risk
      Factors Affecting the Company's Business Operations.**







Uncertain
      Regulatory Environment





The
      Company could be subject to fines, and possible exclusion from participation
      in
      providing online video services and other related services to its clients in
      China if it continues operations in the PRC and fails to comply with the laws
      and regulations applicable to its business or if those laws and regulations
      change.




If
      the
      Company is deemed to have violated these laws and regulations, the Company
      could
      be subject to fines and/or exclusion from participation in providing its current
      services. Changes in the telecommunications law, new interpretations of existing
      laws and regulations may have a dramatic effect on the Company’s business and
      results of operations.




**Continued
      pressure could reduce the Company's margins and limit the Company’s ability to
      maintain or increase its market share.**




Certain
      competitors of the Company may have or may obtain significantly greater
      financial and marketing resources than the Company.  As a
      result,


the Company
      could encounter increased competition in the future that may increase pricing
      pressure and limit its ability to maintain or increase its market


share.  There
      is a great deal of competition in the Company’s business.  Major
      competitors who have more financial support and broader influence
      in


this market
      might force the Company to decrease price, give out more discounts and increase
      its costs to keep key employees.  This would decrease the


Company’s
      profit margin.





**If
      we lost the services of James Wei, the Company’s CEO, we might not be able to
      execute our current business in accordance with our current
      plans.**





Our
      future success depends significantly on the skills, experience and efforts
      of
      our chief executive officer, James Wei and other key personnel.  These
      individuals would be difficult to replace.  Mr. Wei has developed, and
      is engaged in carrying out, the Company’s strategic business
      plan.  The loss of the services of Mr. Wei could seriously harm the
      Company’s ability to implement its strategy.   A failure to
      implement the Company’s business strategy could result in the cessation of the
      Company’s operations which would have a material adverse effect on our Company
      and on your investment.





**The
      Company may be sued by third parties who claim that the Company’s product
      infringes on their intellectual property rights. Defending an infringement
      lawsuit is costly and****the Company may not have adequate
      resources to defend. Any settlement or judgment against us could harm our future
      prospects.**





The
      Company may be exposed to future litigation by third parties based on claims
      that its technology, product or activity infringes on the intellectual property
      rights of others or that the Company has misappropriated the trade secrets
      of
      others. This risk is compounded by the fact that the validity and breadth of
      claims covered in technology patents in general and the breadth and scope of
      trade secret protection involves complex legal and factual questions for which
      important legal principles are unresolved. Any litigation or claims against
      the
      Company, whether or not valid, could result in substantial costs, could place
      a
      significant strain on the Company’s financial and managerial resources, and
      could harm the Company’s reputation.  In addition, intellectual
      property litigation or claims could force the Company to do one or more of
      the
      following:





·
            Cease
                selling, incorporating or using any of the Company's technology and/or
                product that incorporates the challenged intellectual property, which
                could adversely affect the Company's
                revenue;





·
            Obtain
                a license from the holder of the infringed intellectual property
                right,
                which may be costly or may not be available on reasonable terms,
                if at
                all; or





·
            Redesign
                the Company's product, which would be costly and time
                consuming.








**ITEM
      7. FINANCIAL STATEMENTS**




**REPORT
        OF INDEPENDENT REGISTERED ACCOUNTING FIRM**
 
 To
        the
        Board of Directors and Stockholders of
 China
        YouTV Corp.
  I
            have
            audited the accompanying balance sheet of Intrepid China YouTV Corp.
            (the
            Company), a development stage company, as of June 30, 2007 and the related
            statements of operations, changes in stockholders’ equity (deficiency), and cash
            flows for the year then ended.  These financial statements are the
            responsibility of the Company’s management.  My responsibility is to
            express an opinion on these financial statements based on my
            audit.  The financial statements of China YouTV Corp. (formerly Admax
            Resources Inc.) as of June 30, 2006 were audited by other auditors whose
            report
            dated July 19, 2006 included an explanatory paragraph that described
            to going
            concern uncertainty discussed in Note 1 to the financial
            statements.
 
 I
            conducted my audit in accordance with the standards of the Public Company
            Accounting Oversight Board (United States).  Those standards require
            that I plan and perform the audit to obtain reasonable assurance about
            whether
            the financial statements are free of material misstatement.  An audit
            includes examining, on a test basis, evidence supporting the amounts
            and
            disclosures in the financial statements.  An audit also includes
            assessing the accounting principles used and significant estimates made
            by
            management, as well as evaluating the overall financial statement
            presentation.  I believe that my audit provides a reasonable basis for
            my opinion.
 
 In
            my
            opinion, the financial statements referred to above present fairly, in
            all
            material respects, the financial position of China YouTV Corp., a development
            stage company, as of June 30, 2007 and the results of its operations
            and its
            cash flows for the year then ended in conformity with accounting principles
            generally accepted in the United States.
 
 The
            accompanying financial statements referred to above have been prepared
            assuming
            that the Company will continue as a going concern.  As discussed in
            Note 1 to the financial statements, the Company’s present financial situation
            raises substantial doubt about its ability to continue as a going
            concern.  Management’s plans in regard to this matter are also
            described in Note 1.  The financial statements do not include any
            adjustments that might result from the outcome of this uncertainty.
 By:
              /s/ Michael
                T. Studer CPA P.C.Freeport,
                New YorkOctober
                15, 2007





**China
                YouTV Corp. (formerly Admax Resources Inc.)****(A
                Development Stage Company)****Balance
                Sheets****(Expressed
                in US Dollars)**June
                30,
            
            June
                30,2007
            
            2006**ASSETS****Current
                Assets**Cash
            $
            7,922
            $
            17,523Prepaid
                expenses
            
            157,954
            
            -**Total
                Current Assets**
            
            165,876
            
            17,523Investment
                in joint venture
            
            -
            
            -**Total
                Assets**
            $
            165,876
            $
            17,523**LIABILITIES
                AND STOCKHOLDERS' EQUITY (DEFICIENCY)****Current
                Liabilities**Accounts
                payable and accrued liabilities
            $
            36,795
            $
            5,000Due
                to related party
            
            62,120
            
            20,489**Total
                current liabilities**
            
            98,915
            
            25,489**Stockholders'
                Equity (Deficiency)**Preferred
                stock, $0.00001 par value; authorized 1,000,000,000
                shares,Issued
                and outstanding: 0 and 0 shares, respectively
            
            -
            
            -Common
                stock, $0.00001 par value; authorized 1,000,000,000
                shares,Issued,
                issuable, and outstanding: 24,160,000 and 23,800,000 shares,
                respectively
            242
            
            238Additional
                paid-in capital
            
            270,948
            
            34,272Deficit
                accumulated duringthe
                development stage
            
            (204,229)
            
            (42,476)**Total
                stockholders' equity (deficiency)**
            
            66,961
            
            (7,966)**Total
                Liabilities and Stockholders' Equity (Deficiency)**
            $
            165,876
            $
            17,523**See
                notes to financial statements.**

















**China
                YouTV Corp. (formerly Admax Resources Inc.)****(A
                Development Stage Company)****Statements
                of Operations****(Expressed
                in US Dollars)**Year
                Ended June 30,
            
            Cumulative
                during the development stage )2007
            
            2006
            
            (May
              18, 2005 to June 30, 2007**Revenues**
            $
            -
            $
            -
            $
            -**Expenses**General
                and administrative
            
            160,314
            
            24,918
            
            196,757Impairment
                of mineral claim acquisition costs andmineral
                claim exploration and carrying cost
            
            1,761
            
            2,622
            
            7,794Total
                Costs and Expenses
            
            162,075
            
            27,540
            
            204,551Income
                (loss) from operations
            
            (162,075)
            
            (27,540)
            
            (204,551)Interest
                income
            
            322
            
            -
            
            322**Net
                loss**
            
            (161,753)
            
            (27,540)
            
            (204,229)**Net
                Loss per share**Basic
                and diluted
            $
            (0.01)
            $
            (0.00)**Number
                of common shares used to****compute
                loss per share**Basic
                and Diluted
            
            23,865,041
            
            23,800,000**See
                notes to financial statements.**















**China
                YouTV Corp. (formerly Admax Resources Inc.)****(A
                Development Stage Company)****Statements
                of Stockholders' Equity (Deficiency)****For
                the period May 18, 2005 (Inception) to June 30,
                2007****(Expressed
                in US Dollars)**Common
                Stock, $0.00001 Par Value
            Additional
                Paid-in
            Deficit
                Accumulated During the Development
            Total
                Stockholders' EquityShares
            
            Amount
            
            Capital
            
            Stage
            
            (Deficiency)Common
                stock issued to two officersand
                directors for cash on May 19, 2005at
                a price of $0.00001 per share
            10,000,000
            $
            100
            $
            -90
            $
            -
            $
            10Net
                loss
            -
            
            -
            
            -
            
            -14,936
            
            -14,936Balance,
                June 30, 2005
            10,000,000
            
            100
            
            -90
            
            -14,936
            
            -14,926Common
                stock issued for cashon
                September 29, 2005 at a price of$0.0025
                per share
            13,800,000
            
            138
            
            34,362
            
            -
            
            34,500Net
                loss for the year
            -
            
            -
            
            -
            
            -27,540
            
            -27,540Balance,
                June 30, 2006
            23,800,000
            
            238
            
            34,272
            
            -42,476
            
            -7,966Common
                stock contracted on March 10,2007
                to be issued for services to be renderedfrom
                April 1, 2007 to September 30, 2008(issued
                July 1, 2007)
            250,000
            
            3
            
            187,497
            
            -
            
            187,500Common
                stock issued on June 22, 2007 for consulting services
                rendered
            100,000
            
            1
            
            44,679
            
            
            
            44,680Common
                stock issued on June 22, 2007 for legal services rendered
            10,000
            
            
            
            4,500
            
            
            
            4,500Net
                loss for the year
            -
            
            -
            
            -
            
            (161,753)
            
            (161,753)Balance,
                June 30, 2007
            24,160,000
            $
            242
            $
            270,948
            $
            (204,229)
            $
            66,961**See
                notes to financial statements.**















**China
                YouTV Corp. (formerly Admax Resources Inc.)****(A
                Development Stage Company)****Statements
                of Cash Flows****(Expressed
                in US Dollars)**Year
                Ended June 30,
            
            Cumulative
                during the development stage (May 18, 20052007
            
            2006
            
            to
                June 30, 2007)**Cash
                Flows from Operating Activities**Net
                income (loss)
            $
            (161,753)
            $
            (27,540)
            $
            (204,229)Adjustments
                to reconcile net income (loss) tonet
                cash provided by (used for) operating activities:Impairment
                of mineral claim acquisition costs and deferred exploration
                costs
            
            -
            
            2,622
            
            6,033Stock-based
                compensation
            
            80,430
            
            -
            
            80,430Changes
                in operating assets and liabilitiesPrepaid
                expense
            
            (1,704)
            
            -
            
            (1,704)Accounts
                payable and accrued liabilities
            
            31,795
            
            199
            
            36,795**Net
                cash provided by (used for) operating activities**
            
            (51,232)
            
            (24,719)
            
            (82,675)**Cash
                Flows from Investing Activities**Mineral
                claim acquisition costs incurred
            
            -
            
            (2,622)
            
            (6,033)**Net
                cash provided by (used for) investing activities**
            
            -
            
            (2,622)
            
            (6,033)**Cash
                Flows from Financing Activities**Loans
                from related party
            
            41,631
            
            10,120
            
            62,120Proceeds
                from sales of common stock
            
            -
            
            34,500
            
            34,510**Net
                cash provided by (used for) financing activities**
            
            41,631
            
            44,620
            
            96,630**Increase
                (decrease) in cash**
            
            (9,601)
            
            17,279
            
            7,922**Cash,
                beginning of period**
            
            17,523
            
            244
            
            -**Cash,
                end of period**
            $
            7,922
            $
            17,523
            $
            7,922**Supplemental
                disclosures of cash flow information:**Interest
                paid
            $
            -
            $
            -
            $
            -Income
                taxes paid
            $
            -
            $
            -
            $
            -**See
                notes to financial statements.**





**CHINA
        YOUTV CORP.**
 (A
        Development Stage Company)
 
 **NOTES
        TO FINANCIAL STATEMENTS**
 June
        30,
        2007
 (Expressed
        in U.S. Dollars)
  
 **Note
          1 - Basis of Presentation and Going Concern Uncertainty**
 China
            YouTV Corp. (the “Company”) was incorporated in the State of Nevada on May 18,
            2005 under the name Admax Resources, Inc., which name was changed on
            February 9,
            2007. From May 18, 2005 to March 15, 2007, the Company’s business operations
            were limited to the acquisition of a mineral claim in British Columbia,
            Canada
            and the performance of a limited amount of exploration work. On March
            16, 2007,
            the Company entered into a Joint Venture Agreement with Beijing Hua Ju
            Net Media
            Technology Co. Ltd. (“Hua Ju”) for a term of 20 years to be organized in
            Beijing, People’s Republic of China (“China”). The purpose of the Joint Venture
            is to conduct a video sharing website and other related internet interactive
            media businesses in China. See Note 4.
  The
            Company is in the development stage and has not generated any revenues
            and has
            incurred losses of $204,229 since inception. At June 30, 2007, the Company
            had
            $7,922 cash and $98,915 in current liabilities. Further, the Company
            incurred a
            loss of $161,753 during the year ended June 30, 2007. In view of these
            conditions, the ability of the Company to continue as a going concern
            is in
            substantial doubt and dependent upon achieving a profitable level of
            operations
            and on the ability of the Company to obtain necessary financing to fund
            ongoing
            operations. To meet these objectives, the Company continues to seek other
            sources of financing in order to support existing operations and expand
            the
            range and scope of its business. However, there are no assurances that
            any such
            financing can be obtained on acceptable terms, if at all. These financial
            statements do not give effect to any adjustments which would be necessary
            should
            the Company be unable to continue as a going concern.
  
 **2.
          Summary of Significant Accounting Policies**
 
 (a)
          Principles of Accounting
 
 These
          financial statements have been prepared by management in accordance with
          accounting principles generally accepted in the United States (“US
          GAAP”).
 
 (c)
          Accounting Estimates
 
 The
          preparation of financial statements in conformity with US GAAP requires
          management to make estimates and assumptions that affect the reported amounts
          of
          assets and liabilities and disclosure of contingent assets and liabilities
          at
          the date of the financial statements and the reported amounts of revenues
          and
          expenses during the reporting period. Areas where management uses subjective
          judgement include fixed assets and related party transactions. Actual results
          can differ from those estimates and assumptions.
 
 (d)
          Foreign Currency Transactions
 
 The
          Company's management is based outside of the United States of America.
          It
          maintains its accounting records in U.S. dollars, as follows:
 
 At
          the
          transaction date, each asset, liability, revenue and expense is translated
          into
          U.S. dollars by the use of the exchange rate in effect at that date. At
          the
          period end, monetary assets and liabilities are re-measured by using the
          exchange rate in effect at that date. The resulting foreign exchange gains
          and
          losses are included in operations and are not material.
 
 (e)
          Cash
          and Cash Equivalents
 
 Cash
          equivalents comprise certain highly liquid instruments with a maturity
          of three
          months or less when
 purchased.
          The Company did not have any cash equivalents as of June 30, 2007 and
          2006.
 
 (f)
          Long-Lived Assets Impairment
 
 Long-lived
          assets are reviewed for impairment when circumstances indicate the carrying
          value of an asset may not be recoverable in accordance with the guidance
          established in Statement of Financial Accounting Standards (“SFAS”) No. 144,
*Accounting for the Impairment or Disposal of Long-Lived Assets*. For
          assets that are to be held and used, an impairment loss is recognized when
          the
          estimated undiscounted cash flows associated with the asset or group of
          assets
          is less than their carrying value. If impairment exists, an adjustment is made
          to write the asset down to its fair value, and a loss is recorded as the
          difference between the carrying value and fair value. Fair values are determined
          based on discounted cash flows or internal and external appraisals, as
          applicable. Assets to be disposed of are carried at the lower of carrying
          value
          or estimated net realizable value.
 
 (g)
          Income Taxes
 
 The
          Company has adopted SFAS No. 109, *Accounting for Income Taxes*, which
          requires the Company to recognize deferred tax liabilities and assets for
          the
          expected future tax consequences of events that have been recognized in
          the
          Company’s financial statements or tax returns using the liability method. Under
          this method, deferred tax liabilities and assets are determined based on
          the
          differences between the financial statement carrying amounts and tax bases
          of
          assets and liabilities using enacted tax rates in effect in the years in
          which
          the differences are expected to reverse.
 
 (h)
          Fair
          Value of Financial Instruments
 
 Fair
          value estimates of financial instruments are made at a specific point in
          time,
          based on relevant information about financial markets and specific financial
          instruments. As these estimates are subjective in nature, involving
          uncertainties and matters of significant judgement, they cannot be determined
          with precision. Changes in assumptions can significantly affect estimated
          fair
          value.
 
 The
          carrying value of cash, accounts payable and accrued liabilities, and due
          to
          related party approximate their fair value because of the short-term nature
          of
          these instruments. Management is of the opinion that the Company is not
          exposed
          to significant interest or credit risks arising from these financial
          instruments.
 
 The
          Company operates outside of the United States of America and is exposed
          to
          foreign currency risk due to the fluctuation between the currency in which
          the
          Company operates in and the U.S. dollar.
 
 (i)
          Comprehensive Income
 
 The
          Company has adopted SFAS No. 130, *Reporting Comprehensive Income*, which
          establishes standards for reporting and display of comprehensive income,
          its
          components and accumulated balances. The Company is disclosing this information
          on its Statement of Stockholders' Equity (Deficiency). Comprehensive income
          comprises equity except those resulting from investments by owners and
          distributions to owners. Since inception, except for net loss, the Company
          has
          had no items included in comprehensive income (loss).
 
 (j)
          Intangible Assets
 
 The
          Company has adopted SFAS No. 142, *Goodwill and Other Intangible Assets*,
          which requires that goodwill and intangible assets with indefinite life
          are not
          amortized but rather tested at least annually for impairment. Intangible
          assets
          with a definite life are required to be amortized over their useful life
          or
          estimated useful life.
 
 The
          Company has not recorded any goodwill or intangible assets since
          inception.
 
 (k)
          Advertising Expenses
 
 The
          Company expenses advertising costs as incurred. The Company did not incur
          any
          advertising expenses for the years ended June 30, 2007 and 2006.
 
 (l)
          Related Party Transactions
 
 A
          related
          party is generally defined as (i) any person that holds 10% or more of
          the
          Company’s securities and their immediate families, (ii) the Company’s
          management, (iii) someone that directly or indirectly controls, is controlled
          by
          or is under common control with the Company, or (iv) anyone who can
          significantly influence the financial and operating decisions of the Company.
          A
          transaction is considered to be a related party transaction when there
          is a
          transfer of resources or obligations between related parties.
 
 (m)
          New
          Accounting Pronouncements
 
 In
          February 2007, the FASB issued SFAS No. 159 *“**The Fair Value Option
          for Financial Assets and Financial Liabilities - Including an amendment
          of FASB
          Statement No. 115”*, which permits entities to choose to measure many
          financial instruments and certain other items at fair value at specified
          election dates. A business entity is required to report unrealized gains
          and
          losses on items for which the fair value option has been elected in earnings
          at
          each subsequent reporting date. This statement is expected to expand the
          use of
          fair value measurement. SFAS No. 159 is effective for financial statements
          issued for fiscal years beginning after November 15, 2007, and interim
          periods
          within those fiscal years. The Company has not yet determined the impact
          of
          applying SFAS No. 159.
 
 In
          February 2007, the Financial Accounting Standards Board (“FASB”) issued FSP FAS
          158-1.  This FASB Staff Position (FSP) updates the illustrations
          contained in Appendix B of FASB No. 87, “*Employers’ Accounting for
          Pensions”,*Appendix B of FASB Statement No. 88, “*Employers’ Accounting
          for Settlements and Curtailments of Defined Benefit Pension Plans and for
          Termination Benefits”,*and Appendix C of FASB Statement No. 106,
“*Employers’ Accounting for Postretirement Benefits Other Than Pensions”,*to reflect the provisions of FASB Statement No. 158, “*Employers’
Accounting for Defined Benefit Pension and Other Postretirement
          Plans”.*This FSP also amends the questions and answers contained in FASB Special
          Reports, “*A Guide to Implementation of Statement 87 on Employers’ Accounting
          for Pensions, A Guide to Implementation of Statement 88 on Employers’ Accounting
          for Settlements and Curtailments of Defined Benefit Pension Plans and for
          Termination Benefits,*and *A Guide to Implementation of Statement 106 on
          Employers’ Accounting for Postretirement Benefits Other Than Pensions”,*and
          incorporates them into Statements 87, 88, and 106 as Appendixes E, C, and
          F,
          respectively. This FSP supersedes those FASB Special Reports. Finally,
          this FSP
          makes conforming changes to other guidance and technical corrections to
          Statement 158. This FSP does not provide additional implementation guidance
          for
          Statement 158 beyond the conforming changes, nor does it change any of
          the
          provisions of Statement 158. Currently the Company does not have any employers’
Pensions and Postretirement Benefits which require the adoption of this
          Statement, so the Statement will have no impact on the financial
          statements.
 
 **Note
          3 - Prepaid Expense**
 
 On
          March
          10, 2007, the Company executed a Consultancy Services Agreement with three
          consultants. Under this agreement, the consultants are to perform certain
          specified consulting services relating to an on-line video sharing business
          for
          a term of 18 months commencing April 1, 2007. The total consideration to
          be paid
          the consultants was 250,000 free trading shares of Company common stock
          (which
          was issued and delivered on July 1, 2007). The Company recorded the $187,500
          estimated fair value of the 250,000 shares at March 10, 2007 as a prepaid
          expense and is amortizing the $187,500 over the 18 month term of the agreement.
          For the year ended June 30, 2007, $31,250 of the $187,500 is included in
          general
          and administrative expenses in the statement of operations and $156,250
          of the
          $187,500 is included in prepaid expenses in the balance sheet.
 
 
 **Note
          4 - Joint Venture with Beijing Hua Ju Net Media Technology Co. Ltd. (“Hua
          Ju”)**
 
 Under
          the
          Joint Venture Agreement, the Company is to contribute China Yuan Renminbi
          (“RMB”) 510,000 ($66,969 translated at the June 30, 2007 exchange rate) to the
          Joint Venture to own 51% of the joint venture company. The Company can
          appoint a
          majority of the seats on the board of directors and has to provide the
          required
          working capital for the Joint Venture, and is in charge of the Joint Venture’s
          accounting management. Hua Ju is to contribute RMB490,000 ($64,343 translated
          at
          the June 30, 2007 exchange rate) to the Joint Venture to own 49% of the
          joint
          venture company and can appoint a minority of the seats on the board of
          directors. Hua Ju is to contribute its website (www.cnboo.com) and customer
          contracts to the Joint Venture, and is in charge of the Joint Venture’s daily
          operations for at least three years.
  Also
          under the Joint Venture Agreement, the Company has agreed to issue 20,000,000
          newly issued shares of its common stock to Hua Ju or its designee as additional
          consideration for entering into the agreement, in an offering intended
          to be
          exempt from registration under the Securities Act of 1933, as amended (the
          “Act”), pursuant to Regulation S promulgated pursuant to the Act.
  At
          October 12, 2007, the Joint Venture has not yet been approved by the China
          regulatory authorities and no funding has been made to the Joint
          Venture.
 
 The
          president of the Company is also president of Hua Ju.
 
 **Note
          5 - Due to Related Party**
  The
          due
          to related party liability is due the Company’s chief executive officer, does
          not bear interest, and is due on demand.
  **Note
          6 - Stockholders’ Equity**
  On
          January 18, 2006, the Securities and Exchange Commission (“SEC”) “declared
          effective” the Company’s registration statement on Form SB-2 to register the
          13,800,000 shares of Company common stock owned by the then 44 non-affiliates
          of
          the Company.
  On
          January 29, 2007, the Company effectuated a 10 for 1 forward stock split.
          The
          financial statements have been retroactively adjusted to reflect this stock
          split.
  On
          May 4,
          2007, the Company registered 5,000,000 shares of its common stock pursuant
          to a
          Registration Statement on Form S-8 filed with the SEC. The shares may be
          issued
          to employees, directors, officers, consultants, advisors and other persons
          pursuant to the Company’s 2007 Non-Qualified Stock Compensation
          Plan.
 
 On
          June
          22, 2007, the Company issued 100,000 shares as compensation for services
          provided by a consultant (valued at $44,680) and 10,000 shares for legal
          services rendered (valued at $4,500).
 
 On
          July
          1, 2007, the Company issued a total of 250,000 shares to three consultants
          pursuant to a Consultancy Services Agreement dated March 10, 2007. See
          Note
          3.
  **Note
          7 - Income Taxes**
 
 No
          provisions for income taxes have been recorded since the Company has incurred
          net losses since inception.
  At
          June
          30, 2007, deferred tax assets consist of:
 Net
                    operating loss carryforward
                $  69,438Less:
                    Valuation allowance
                (69,438)$ _______
 Based
          on
          management’s present assessment, the Company has not yet determined it to be
          more likely than not that a deferred tax asset of $69,438 attributable
          to the
          future utilization of the $204,229 net operating loss carryforward as of
          June
          30, 2007 will be realized. Accordingly, the Company has provided a 100%
          allowance against the deferred tax asset in the financial statements at
          June 30,
          2007. The Company will continue to review this valuation allowance and
          make
          adjustments as appropriate. The net operating loss carryforward expires
          in years
          2025, 2026 and 2027 in the amounts of $14,936, $27,540, and $161,753
          respectively.
  Current
          tax laws limit the amount of loss available to be offset against future
          taxable
          income when a substantial change in ownership occurs. Therefore, the amount
          available to offset future taxable income may be limited.
  **Note
          8 - Commitments and Contingencies**
  On
          March
          22, 2007, the British Columbia Securities Commission (the “Commission”) sent the
          Company an Order for Production of certain documents and records. In August
          and
          September 2007, the Commission issued three Halt Trade Orders to the Company
          because the Commission claimed it became aware of unsolicited electronic
          mail
          (spam) promoting the Company’s securities.
 
 The
          Company has responded to all inquiries of the Commission and has advised
          the
          Commission that they were not involved in any way in the creation or
          dissemination of the spam, nor do they have any information as to its
          origin.


**ITEM
      8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
      AND FINANCIAL DISCLOSURE**




**ITEM
      8A. CONTROLS AND PROCEDURES**




**(a)*****Evaluation of Disclosure Controls and
      Procedures****:* Disclosure controls and procedures are
      designed to ensure that information required to be disclosed in the reports
      filed or submitted under the Exchange Act is recorded, processed, summarized
      and
      reported, within the time period specified in the SEC's rules and forms.
      Disclosure controls and procedures include, without limitation, controls and
      procedures designed to ensure that information required to be disclosed in
      the
      reports filed under the Exchange Act is accumulated and communicated to
      management, including the Chief Executive Officer and Chief Financial Officer,
      as appropriate, to allow timely decisions regarding required disclosure. As
      of
      the end of the period covered by this report, we carried out an evaluation,
      under the supervision and with the participation of our management, including
      our Chief Executive Officer and Chief Financial Officer, of the effectiveness
      of
      the design and operation of our disclosure controls and procedures. Based upon
      and as of the date of that evaluation, the Chief Executive Officer and Chief
      Financial Officer concluded that our disclosure controls and procedures are
      effective to ensure that information required to be disclosed in the reports
      we
      file and submit under the Exchange Act is recorded, processed, summarized and
      reported as and when required.





**(b)** ***Changes
      in Internal Control over Financial Reporting****:* There were
      no changes in our internal controls over financial reporting identified in
      connection with our evaluation of these controls as of the end of the period
      covered by this report that could have affected those controls to the date
      of
      the evaluation referred to in the previous paragraph, including any correction
      action with regard to deficiencies and material weakness.





There
      were no changes in our internal controls or in other factors that could
      significantly affect these controls subsequent to the date of their evaluation,
      including any deficiencies or material weaknesses of internal controls that
      would require corrective action.





**ITEM
      8B. OTHER INFORMATION**




None








**PART
        III**






**ITEM
      9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL
      PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE
      ACT**




(a) 
      The following table furnishes the information concerning Company directors
      and
      officers as of the date of this report. The directors of the Registrant are
      elected every year and serve until their successors are elected and
      qualify.




**Name**
            **Age**
            **Title**
            **Term**James
                Wei
            34
            President
                and Director
            AnnualDavid
                Ze
            50
            Director
                and Secretary
            AnnualJie
                Wang
            52
            Director
            Annual






The
      following table sets forth the portion of their time the directors devote to
      the
      Company:




James
                Wei
            100%David
                Ze
            20%Jie
                Wang
            50%




The
      term
      of office for each director is one (1) year, or until his/her successor is
      elected at the Company annual meeting and is qualified. The term of office
      for
      each of the officers is at the discretion of the Board of
      Directors.




(b) 
      Identification of Certain Significant Employees.




Strategic
      matters and critical decisions are handled by Company directors and executive
      officers: James Wei and Jie Wang. Day-to-day management is delegated to James
      Wei and partially by Jie Wang in China, to David Ze in Canada.




(c) 
      Family Relationships. None




(d)  Business
      Experience.




The
      following is a brief account of the business experience during the past five
      years of each of the Company’s directors and executive officers, including
      principal occupations and employment during that period and the name and
      principal business of any corporation or other organization in which such
      occupation and employment were carried on.




**James
      Wei,**President and Director, age 33.


Mr.
      Wei
      has his bachelor degree from the University of Science and Technology in
      Beijing, Majoring in Computer Science. Mr. Wei has over 11 years of work
      experience in the Internet industry. He is the CEO and chairman of the board
      of
      directors of the Registrant’s Joint Venture partner, HuaJu.  Before
      that, Mr. Wei served as Vice President for one of the first Internet Service
      Providers in China.  He also served as Vice President for an Internet
      company that specialized in the field of web design, web hosting and domain
      name
      registration and helped it to develop into the second largest company in China
      in its field. Mr. Wei is a successful and well known executive in China’s
      internet industry.




**David
      Ze**, Secretary and Director, age 50.


Mr.
      Ze has been our principal financial officer, principal accounting officer,
      treasurer, secretary and director since our inception on May 18, 2005. Since
      May
      2002, Mr. Ze has been director of market development for Kingston Education
      Group , Burnaby, British Columbia. Kingston Education Group provides various
      courses for local students as well as international students in Canada. From
      February 2000 to April 2002, Mr. Ze was a Chief Executive Officer of Kong Road
      International Trade and Consulting Services in Coquitlam, British Columbia.
      Mr.
      Ze holds a Doctor degree in communication studies from Simon Fraser University
      and a Master degree in publishing from University of Stirling, United
      Kingdom.





**Jie
      Wang**, Director, age 52.


Mr.
      Wang
      has his MBA degree from Concordia University in Montreal of Canada, bachelor
      degree from People University of China in Beijing, China, Majoring in Economy.
      Mr. Wang has years work experience in Investment Industry and Corporate Finance.
      Mr. Wang has been working as Partner and Managing Director of Hi-Gold
      Consultants Limited (Hong Kong/Beijing) since 2001. He currently also serves
      as
      Independent Director of a Shanghai listed public company and as Director in
      two
      other private companies in China.





Positions
      previously held by Mr. Wang include Managing Director of Beijing based
      OrienCentury Securities Investment Consultation, Senior Advisor to the Chairman
      and CEO of Guangxi Yuchai Machinery Company Ltd and China Yuchai International
      (a NYSE listed company), Deputy Director of Fund Management Department of Stock
      Exchange Executive Council (SEEC, Beijing), and Trader in Forex Funding
      Department of CITIC Industrial Bank.




(e)  Audit
      Committee Financial Expert





We
      do not
      have an audit committee financial expert.  We do not have an audit
      committee financial expert because we believe the cost related to retaining
      a
      financial expert at this time is prohibitive.  Further, because we are
      only beginning our commercial operations, at the present time, we believe the
      services of a financial expert are not warranted.





(f)  
      Conflicts of Interest





The
      only
      conflict that we foresee is that Messrs. Ze and Wang, our officers and directors
      devote time to projects that do not involve us.





(g)  Involvement
      in Certain Legal Proceedings





To
      our
      knowledge, during the past five years, no present or former director or
      executive officer of our company: (1) filed a petition under the federal
      bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent
      or
      similar officer appointed by a court for the business or present of such a
      person, or any partnership in which he was a general partner at or within two
      yeas before the time of such filing, or any corporation or business association
      of which he was an executive officer within two years before the time of such
      filing; (2) was convicted in a criminal proceeding or named subject of a pending
      criminal proceeding (excluding traffic violations and other minor offenses);
      (3)
      was the subject of any order, judgment or decree, not subsequently reversed,
      suspended or vacated, of any court of competent jurisdiction, permanently or
      temporarily enjoining him from or otherwise limiting the following activities:
      (i) acting as a futures commission merchant, introducing broker, commodity
      trading advisor, commodity pool operator, floor broker, leverage transaction
      merchant, associated person of any of the foregoing, or as an investment
      advisor, underwriter, broker or dealer in securities, or as an affiliated
      person, director of any investment company, or engaging in or continuing any
      conduct or practice in connection with such activity; (ii) engaging in any
      type
      of business practice; (iii) engaging in any activity in connection with the
      purchase or sale of any security or commodity or in connection with any
      violation of federal or state securities laws or federal commodity laws; (4)
      was
      the subject of any order, judgment or decree, not subsequently reversed,
      suspended or vacated, of any federal or state authority barring, suspending
      or
      otherwise limiting for more than 60 days the right of such person to engage
      in
      any activity described above under this Item, or to be associated with persons
      engaged in any such activity; (5) was found by a court of competent jurisdiction
      in a civil action or by the Securities and Exchange Commission to have violated
      any federal or state securities law and the judgment in subsequently reversed,
      suspended or vacate; (6) was found by a court of competent jurisdiction in
      a
      civil action or by the Commodity Futures Trading Commission to have violated
      any
      federal commodities law, and the judgment in such civil action or finding by
      the
      Commodity Futures Trading Commission has not been subsequently reversed,
      suspended or vacated.





(h) 
      Audit Committee and Charter





We
      do not
      have a separately-designated audit committee of the board or any other
      board-designated committee. Audit committee functions are performed by our
      board
      of directors. None of our directors are deemed independent. All directors also
      hold positions as our officers. Our board of directors  is responsible
      for: (1) selection and oversight of our independent accountant; (2) establishing
      procedures for the receipt, retention and treatment of complaints regarding
      accounting, internal controls and auditing matters; (3) establishing procedures
      for the confidential, anonymous submission by our employees of concerns
      regarding accounting and auditing matters; (4) engaging outside advisors; and,
      (5) funding for the outside auditory and any outside advisors engagement by
      the
      audit committee.





(i)  Audit
      Committee Financial Expert





None
      of
      our directors or officers has the qualifications or experience to be considered
      a financial expert. We believe the cost related to retaining a financial expert
      at this time is prohibitive. Further, because of our limited operations, we
      believe the services of a financial expert are not warranted.





(j)  Code
      of Ethics





We
      have
      adopted a corporate code of ethics. We believe our code of ethics is reasonably
      designed to deter wrongdoing and promote honest and ethical conduct; provide
      full, fair, accurate, timely and understandable disclosure in public reports;
      comply with applicable laws; ensure prompt internal reporting of code
      violations; and provide accountability for adherence to the code.


A
      copy of
      the Code of Ethics is attached as Exhibit 14.1 hereto.





(k)  Disclosure
      Committee and Charter





We
      have a
      disclosure committee and disclosure committee charter. Our disclosure committee
      is comprise of all of our officers and directors. The purpose of the committee
      is to provide assistance to the Chief Executive Officer and the Chief Financial
      Officer in fulfilling their responsibilities regarding the identification and
      disclosure of material information about us and the accuracy, completeness
      and
      timeliness of our financial reports.





(l)  
      Section 16(a) of the Securities Exchange Act of 1934





We
      are
      subject to the reporting requirements of section 16(a) of the Securities
      Exchange Act of 1934.  Under Section 16(a) of the Exchange Act, all
      executive officers, directors, and each person who is the beneficial owner
      of
      more than 10% of the common stock of a company that files reports pursuant
      to
      Section 12 of the Exchange Act, are required to report the ownership of such
      common stock, options, and stock appreciation rights (other than certain
      cash-only rights) and any changes in that ownership with the Commission.
      Specific due dates for these reports have been established, and the Company
      is
      required to report, in this Form 10-KSB, any failure to comply therewith during
      the fiscal year ended June 2007.  The Company believes that all
      of these filing requirements were satisfied by its executive officers, directors
      and by the beneficial owners of more than 10% of the Company’s common stock. In
      making this statement, the Company has relied solely on copies of any
      reporting forms received by it, and upon any written representations received
      from reporting persons that no Form 5 (Annual Statement of Changes in Beneficial
      Ownership) was required to be filed under applicable rules of the
      Commission.





**ITEM
      10. EXECUTIVE COMPENSATION**




**No
      executives of the Company who served in such capacity at the end of the last
      fiscal year has total annual salary and bonus exceeded
      $100,000.**









**Executive
      Compensation**




Name
            Fees
                Earned or
              Paid
                in Cash
            Stock
                Awards ($)
            Option
                Awards ($)
            Non-Equity
                Incentive Plan Compensation ($)
            Nonqualified
                Deferred Compensation Earnings ($)
            All
                Other
              Compensation
                ($)
            Total
                ($)(a)
            (b)
            (c)
            (d)
            (e)
            (f)
            (g)
            (h)James
                Wei
            0
            0
            0
            0
            0
            0
            0David
                Ze
            0
            0
            0
            0
            0
            0
            0Jie
                Wang
            0
            0
            0
            0
            0
            0
            0




Officers  who
      are also directors of China YouTV Corp. receive no cash compensation for
      services as a director. However, the directors will be reimbursed for reasonable
      out-of-pocket expenses incurred in connection with attendance at board and
      committee meetings.




**Stock
      purchase options:**


None





SUMMARY
      DESCRIPTION OF EMPLOYEE BENEFIT PLANS





**2007
      NON-QUALIFIED STOCK COMPENSATION PLAN**





The
      Company has adopted the 2007 NON-QUALIFIED STOCK COMPENSATION PLAN (the “2007
      Plan”) on April 27, 2007 and filed a Registration Statement on Form S-8 with the
      Commission on May 4, 2007, to register shares awarded and shares underlying
      options granted under the 2007 Plan.  The Company issues common stock
      and awards options to employees, directors, officers, consultants, advisors
      and
      other persons associated with our Company.  The 2007 Plan is intended
      to provide a method whereby our Company would be stimulated by the personal
      involvement of our employees, directors, officers, consultants, advisors and
      other persons in our business and reward such involvement, thereby advancing
      the
      interests of our Company and all of its shareholders.  A total of
      5,000,000 shares of common stock and shares of common stock underlying options
      were authorized under the 2007 Plan.  The stock options granted under
      the 2007 Plan shall be non-qualified stock options (“NQSO’s”).







**ITEM
      11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
      MANAGEMENT AND RELATED STOCKHOLDER MATTERS**




Persons
      and groups owning in excess of five percent of our Common Stock are required
      to
      file certain reports with the SEC disclosing such ownership pursuant to the
      Exchange Act. Based upon such reports, as of September 25, 2007 management
      knows
      of no persons other than those identified below who were beneficial owners
      of
      more than five percent of the outstanding shares of Common Stock.




The
      following table sets forth information with respect to the beneficial ownership
      of our issued and outstanding stock by each director, the Chief Executive
      Officer of the Company, the other named executive officers, all executive
      officers and directors as a group and beneficial owners of more than five
      percent of the 24,160,000 shares outstanding at September 25, 2007:






**Name
                of Beneficial Owner**
            **Title
                of Class**
            **Total
                Number of Securities Owned Beneficially**
            **Percent
                of Class (1)**James
                Wei
            Common
                Stock
            600,000
            3%David
                Ze
            Common
                Stock
            5,000,000
            21%Gao,
                ZhenYong
            Common
                Stock
            5,000,000
            21%Total
                number of shares owned by directors and executive officers as a group
                (3
                persons)
            Common
                Stock
            10,600,000
            45%





**Termination
      of Employment and Change of Control Arrangements:**




Mr.
      Gao,
      ZhenYong, our former President and director of the Company has resigned on
      June
      1, 2007.








**ITEM
      12. CERTAIN RELATIONSHIPS AND RELATED
      TRANSACTIONS**




None





**ITEM
      13. EXHIBITS**




The
      following exhibits are filed pursuant to Item 601 of Regulation
      S-B.





**Exhibit
                No.**
            **Document
                Description**3.1
            Articles
                of Incorporation  (incorporated by reference from Exhibit 3.1 to
                a registration statement on Form SB-2 filed with the Commission on
                December 30, 2005)3.2
            Bylaws
                (incorporated by reference from Exhibit 3.2 to a registration statement
                on
                Form SB-2 filed with the Commission on December 30,
                2005)14.1
            Code
                of Ethics.31.1
            Certification
                of Principal Executive Officer
                pursuant to Rule 13a-14 and Rule 15d-14(a), promulgated under the
                Securities and Exchange Act of 1934, as amended.31.2
            Certification
                of Principal Financial Officer
                pursuant to Rule 13a-14 and Rule 15d-14(a), promulgated under the
                Securities and Exchange Act of 1934, as amended.32.1
            Certification
                pursuant to 18 U.S.C. Section 1350,
                as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
                (Chief Executive Officer).32.2
            Certification
                pursuant to 18 U.S.C. Section 1350,
                as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
                (Chief Financial Officer).







**ITEM
      14. PRINCIPAL ACCOUNTANT FEES AND
      SERVICES**




**(1)
      Audit Fees**





The
      aggregate fees billed for each of
      the last two fiscal years for professional services rendered by the principal
      accountant for our audit of annual financial statements and review of financial
      statements included in our Form 10-QSBs or services that are normally provided
      by the accountant in connection with statutory and regulatory filings or
      engagements for those fiscal years was:




2007
            $
            25,000
            
            Michael
                T. Studer CPA P.C.2006
            $
            5000
            
            Moen
                and Company LLP





**(2)
      Audit-Related Fees**





The
      aggregate fees billed in each of
      the last two fiscal years for assurance and related services by the principal
      accountants that are reasonably related to the performance of the audit or
      review of our financial statements and are not reported in the preceding
      paragraph:




2007
            $
            0
            
            Michael
                T. Studer CPA P.C.2006
            $
            0
            
            Moen
                and Company LLP





**(3)
      Tax Fees**





The
      aggregate fees billed in each of the last two fiscal years for professional
      services rendered by the principal accountant for tax compliance, tax advice,
      and tax planning was:




2007
            $
            0
            
            Michael
                T. Studer CPA P.C.2006
            $
            0
            
            Moen
                and Company LLP





**(4)
      All Other Fees**





The
      aggregate fees billed in each of the last tow fiscal yeas for the products
      and
      services provided by the principal accountant, other than the services reported
      in paragraphs (1), (2), and (3) was:




2007
            $
            0
            
            Michael
                T. Studer CPA P.C.2006
            $
            0
            
            Moen
                and Company LLP





(5)
      Our
      audit committee’s pre-approval policies and procedures described in paragraph
      (c)(7)(i) of Rule 2-01 of Regulation S-X were that the audit committee
      pre-approve all accounting related activities prior to the performance of any
      services by any accountant or auditor.





(6)
      The
      percentage of hours expended on the principal accountant’s engagement to audit
      our financial statements for the most recent fiscal year that were attributed
      to
      work performed by persons other than the principal accountant’s full time,
      permanent employees was 0%.














**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
      on this 15th day October, 2007.








**CHINA
                YOUTV CORP.****(Registrant)**BY:
            /s/
                James WeiJames
                WeiPresident,
                Principal Executive Officer and a member of the Board of
                DirectorsBY:
            /s/
                David W. ZeDavid
                W. ZePrincipal
                Financial Officer, Principal Accounting Officer, Treasurer, Secretary
                and
                a member of the Board of DirectorsBY:
            /s/
                Jie WangJie
                WangA
                member of the Board of Directors