SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

(Mark One)

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934
                    For the Fiscal Year Ended March 31, 2006

[ ]  TRANSITION  REPORT  PURSUANT  TO SECTION  13 OR 15(d) OF THE  SECURITIES
     EXCHANGE ACT OF 1934

                           Commission File No. 0-22236

                        Skreem Entertainment Corporation
                     (formerly Stanford Capital Corporation)
                  ---------------------------------------------
                 (Name of small business issuer in its charter)

                               Delaware 33-0565710
      -------------------------------- -----------------------------------
     State or other jurisdiction of (I.R.S. Employer Identification Number)
                         incorporation or organization)

                 11637 Orpington Street, Orlando, Florida 32817
          ------------------------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)

        Registrant's Telephone Number, Include Area Code: (407) 207-0400

         Securities Registered Pursuant to Section 12(b) of the Act:
        Title of Each Class Name of Each Exchange on Which Registered
            None                                                 None

           Securities Registered Pursuant to Section 15(d) of the Act:
                         Common Stock, $0.001 par value
                                (Title of Class)

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 twelve (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 ninety (90)days. Yes
[x] No

Check if disclosure of delinquent filers in response to Item 405 of Regulation
S-B is not contained in this form, 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. [x]

Issuer's revenues for its most recent fiscal year were $64,937.

State the aggregate market value of the voting stock held by nonaffiliates
computed by reference to the price at which the stock was sold, or the average
bid and ask prices of such stock, as of a specified date within the past 60
days: The Company's common stock does not have a trading market.

As of May 5, 2006, the Registrant had 24,508,950 shares of Common Stock issued
and outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

List hereunder the following documents if incorporated by reference and the part
of the form 10-KSB (e.g. part I, part II, etc.) Into which the document is
incorporated: (1) Any annual report to security holders; (2) Any proxy or other
information statement; and (3) Any prospectus filed pursuant to rule 424(b) or
(c) under the Securities Act of 1933: None.
<PAGE>

                                TABLE OF CONTENTS

                                                                        Page

                                     PART I

         ITEM 1.  DESCRIPTION OF BUSINESS                                  3
         ITEM 2.  DESCRIPTION OF PROPERTY                                  5
         ITEM 3.  LEGAL PROCEEDINGS                                        5
         ITEM 4.  SUBMISSION OF MATTERS TO A VOTE
                  OF SECURITY HOLDERS                                      5

                                     PART II

         ITEM 5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER
                 MATTERS AND SMALL BUSINESS ISSUER PURCHASES OF
                 EQUITY SECURITIES                                         6
         ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN
                 OF OPERATION                                              6
         ITEM 7. FINANCIAL STATEMENTS                                      7
         ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
                 ON ACCOUNTING AND FINANCIAL DISCLOSURE                    8
         ITEM 8A.CONTROLS AND PROCEDURES                                   9
         ITEM 8B.OTHER INFORMATION                                         9

                                    PART III

         ITEM 9.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT      10
         ITEM 10. EXECUTIVE COMPENSATION                                  11
         ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
                  OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER

MATTERS                                                                   12
         ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS          12
         ITEM 13. EXHIBITS AND REPORTS OF FORM 8-K                        12
         ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES                  13


                   SIGNATURES                                             14

                   CERTIFICATIONS                                         15



<PAGE>

                                     PART I

ITEM 1.         DESCRIPTION OF BUSINESS

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This periodic report contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 with respect to the
financial condition, results of operations, business strategies, operating
efficiencies or synergies, competitive positions, growth opportunities for
existing products, plans and objectives of management. Statements in this
periodic report that are not historical facts are hereby identified as
"forward-looking statements".

Business

The Company was incorporated in Delaware on June 11, 1992. On May 28, 1998, the
Company changed its name from Plasmatronics Technologies, Inc. to Ecological
Services, Inc. and on January 3, 2003 changed its name to Stanford Capital
Corporation. In December 2002, the Company acquired all the issued and
outstanding shares of Stanford Capital International, Ltd. a Hong Kong based
public relations firm for 10,000 shares of its common stock. This transaction
was subsequently revoked. On January 31, 2004, the Company acquired all of the
shares of Skreem Entertainment Corporation in exchange for 22,000,000 shares of
its one for five post reverse split common shares. Skreem Entertainment
Corporation promotes finances and manages artists in the entertainment industry.

Overview

Our business is to locate and promote recording talent.

The Company is constantly seeking talent for recording and performing. Company
employees utilize their industry contacts and experience to locate prospective
music acts, including music groups and individuals, and evaluate these acts to
determine if, from the Company's perspective, such acts demonstrate the talent
potential to succeed in the music industry.

Upon locating an act that the Company believes has the potential for success,
the Company will sign the act to a contract. Upon signing a typical contract,
the Company at its option will advance funds to the artist to pay for travel,
arrange for performances, schedule public appearances and generally promote the
act, and the act's music, in exchange for a percentage of the revenues generated
by the act's performances and music sales.

Once the Company has located an act it wishes to promote, the Company will
determine where to promote the artist. It is the Company's strategy to promote
talent outside of the United States until the talent has demonstrated the
ability to sell music or tickets to performances. Once an act has gained some
level of success abroad, the Company intends to promote and market the act in
the United States. The Company believes that promoting abroad is a viable
approach because it costs less initially, foreign markets are very receptive to
American type music acts, and there is less competition.

Distribution

The Company distributes its acts in two different ways. The first is through
concerts and public appearances. An act will perform and tour playing concerts
as frequently as possible to increase public awareness of their music. An act
will also make public appearances at retail centers, public places and other
events also to increase the act's public awareness.

The second way the act gains publicity is through licensing and sales of the
act's music. The Company does not sell records or other music media, however, it
does license master recordings to other organizations which distribute the
recordings in various media. The Company receives royalty payments pursuant to
licensing agreements, which are a percentage of revenues from distribution of
the recordings.

The Company's artists' music is currently being distributed by various
organizations throughout Europe and in other countries. Further description is
provided in the Plan of Operation under Item 6.



                                        3
<PAGE>

Licensing

From time to time the Company enters into licensing agreements with music
production and distribution companies. The license agreements typically grant
the production and distribution company rights to a music single or all of an
act's music in a particular country or region with a term of three to fifteen
years. The production or distribution company can then distribute the music in
record or cd format, mp3, ringtone, or any other music media licensed in the
agreement. The Company typically receives royalties of a negotiated percentage
between 18% and 75% of sales of the production and distribution company's
published dealer price less certain packaging deductions. In addition, the
Company shall receive between 18% and 75% of net royalty receipts received by in
the particular nation or region. In connection with the license agreement, the
Company may receive a cash advance.

Exclusive Artist Recording Agreements

At March 31, 2006, the Company had entered into long-term Exclusive Artist
Recording Agreements with six artists, which include the three Artists of
"3rdWish", the Artist "PatMoe", the Artist "Precious Dawn Francis" and the
Artist "Willie Bivins, Jr" also known as "Willie Will" for the purpose of
engaging the exclusive personal services of the Artists for making master sound
recordings for distribution in any medium. The territory for the agreements
shall be worldwide. All master recordings made by the Artists during the terms
of the agreements shall be recorded by the Artists on the Company's behalf, and
all phonograph records and related performances shall be the entire property of
the Company; the Company shall have the right to secure sound recording
copyright; and the Company and its licensees shall have the sole and exclusive
right to use the recordings throughout the world or any part thereof in any
manner it sees fit. The Company may pay all specifically approved recording
costs in connection with the master recordings made hereunder, and all recording
costs shall be deemed fully recoupable advances to the Artists and shall be
deducted from any and all royalties payable to the Artist by the Company under
this or any and all royalties payable to the Artists by the Company. Any and all
monies paid to or on behalf of the Artists during the term of the agreement
shall be fully recoupable, non-returnable advances unless otherwise expressly
agreed in writing between the Company and the Artists. The Company has the
right, but not the obligation to have the Artists participate in the creation of
music videos and 100% of any and all monies expended by or advanced by the
Company for the production of music videos shall constitute additional fully
recoupable advances hereunder. The Company shall own any and all rights in and
to said music videos in perpetuity.

In its sole discretion, the Company may choose, at any time during the term of
the agreements, to license master recordings made by the Artists to third
parties on a flat fee or royalty basis, or to enter into a distribution
agreement with a third party distributor for the distribution of phonograph
records embodying master recordings recorded by the Artists through normal
retail channels in the United States and worldwide. With respect to master
recordings of the Artists licensed to third parties on a flat-fee basis, the
Company shall pay the Artists 20-50% of the net amount received by the Company
under such license. With respect to master recordings of the Artists licensed to
third parties on a royalty basis, and with respect to phonograph recordings
released through a distributor selected by the Company, the Company shall pay
the Artists the lesser of 20-50% of the Company's net earned royalty receipts
under such license or distribution agreement, or 20-50% of the basic album or
single rate as defined in the agreements. Further, in its sole discretion, the
Company may choose to commercially release phonograph records through the
Company's own distribution network. In such event, the Company agrees to pay the
Artists royalties based on the basic album or singe rate as defined in the
agreements. For phonograph recordings that are exported or sold outside the
United States and through record clubs or similar plans, the Artists shall be
paid a royalty of 20-50% of the amounts provided of the above mentioned amounts.
In addition, the Artists may earn royalties related to licenses for musical
compositions, music video licenses and merchandising.

At March 31, 2006, the Artists had earned royalties of approximately $45,000,
based on the year-end reported licensing revenues. However, the Company is not
obligated to pay any royalties until total advances to Artists of $1,468,424 at
March 31, 2006 (plus any future advances) have been recouped.

Music Publishing Agreements

At March 31, 2006, the Company had entered into long-term Music Publishing
Agreements with five individual Writers, which include the three Artists of "3rd
Wish", the Artist "PatMoe" and the Artist "Willie Will". The Company engaged the
Writers to render the Writer's exclusive services as songwriters and composers
based upon terms and conditions set forth in the agreements. In accordance with
the agreements, the Writers grant all rights to all musical compositions written
or owned by the Writers and all musical compositions shall be the Company's
exclusive property as sole owner. The Company shall pay royalties to the Writers
based on various terms and conditions set forth in the agreements. There have
been no royalties earned by the writers related to the agreements.


                                        4
<PAGE>


Personal Management Agreement

At March 31, 2006, the Company had entered into long-term Personal Management
Agreements with five Artists, which include the three Artists of "3rd Wish", the
Artist "PatMoe" and the Artist "Willie Will". The Company accepts the engagement
as the Artists' sole and exclusive personal management company in connection
with all activities in the entertainment industries throughout the world,
including but not limited to their services as musicians, songwriters, actors,
publishers, packagers or performers in any medium now known or hereafter
devised. For personal management services performed, the Artists agree to pay
the Company 15%-20% of all gross compensation earned or received as a result of
activities in the entertainment industry. However, the Company shall not be
entitled to commissions by the Artists from the sale, license, or grant of any
literary or music rights to the Company or any person, firm, or corporation
owned or controlled by the Company. During the year ended March 31, 2006, the
Company earned commissions of $981, all related to live performances.

The Company's acts face fierce competition. There is no shortage of acts and
musicians seeking fortune and fame. There is also no shortage of talent in the
music industry. The Company believes that their approach of being selective when
choosing acts, refining these acts abroad, and marketing the acts through
appearances, performances, and music sales is a viable method to compete in the
music industry. However there are many other organizations with more capital to
spend, greater access to talent, better industry connections, and more
experience.

The Company's future depends on the success of it's acts and artists. Many music
acts spend entire careers without having a single popular song or tour. The most
talented artists and acts are not always the most successful and fan acceptance
is the most important and most difficult element of success. If the fans like
the act, the fans will purchase the music and tickets and recommend it to
friends. If the fans don't like the act, the act may never gain acceptance.

Employees

The Company, as of June 15, 2006, employs a total of 2 persons, one of these
full-time, at its corporate headquarters in Florida.

ITEM 2          DESCRIPTION OF PROPERTIES

The Company's administrative offices are located in a leased office facility
located at 11637 Orpington Street, Orlando, Florida 32817. The facility contains
approximately 2,000 square feet of office space. There is no lease on the
facility nor is there a rental fee as the property is owned by the principal
shareholder of the Company.

ITEM 3.         LEGAL PROCEEDINGS

The Company is not aware of any litigation, pending or threatened, to which it
is a party.

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

No matters were submitted to a vote of the Company's shareholders through the
solicitation of proxies, during the fourth quarter of the Company's fiscal year
ended March 31, 2006.



                                        5
<PAGE>

                                     PART II

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

The Company's Common Stock trades on the Over the Counter Bulleten Board under
the symbol SKRM.OB. The Company's stock began trading subsequent to its year end
of March 31, 2006. Since its inception, the Company has not paid any dividends
on its Common Stock, and the Company does not anticipate that it will pay
dividends in the foreseeable future. As of June 15, 2006, the Company had
approximately 160 shareholders of record

The  Company's  transfer  agent is OTC Stock  Transfer,  Inc. of Salt Lake City,
Utah.

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

Plan of Operation

The Company plans to continue operations by developing current acts into
successful music performing and recording acts. The Company currently has three
acts, "3rd Wish", "Pat Moe" and Willie Will". These three acts will tour,
perform, make public appearances, and continue to record as opportunities are
located. The Company is uncertain as to when these acts may enter the U.S.
market.

The Company's cash balance is insufficient to satisfy the Company's cash
requirements for the next 12 months. The Company believes it can satisfy it's
cash requirements for 6 months with current cash and receivables. The Company is
dependent on continued receipt of revenues and will need outside funding from
the sale of shares or debt financing in order to continue operations beyond that
point.

The Company does not anticipate acquiring any significant equipment during the
next twelve months.

The Company does not anticipate any significant changes in the number of
employees in the next twelve months.

The Company has entered into various license agreements which grant certain
exclusive rights to sell and distribute certain recordings by "3rd Wish". The
table below sets forth the parties and territories covered by these license
agreements:

         Party(Licensee)            Territories

         Cheyenne Records           Germany, Switzerland and Austria
         Three 8 Music Limited      UK, Eire
         Shock Records Pty Ltd      Australia, New Zealand
         NRJ Music                  France, Andorra, Monaco, Belgium
         Megaliner Records          Russia, Azerbaijan, Armenia, Georgia,
                                    Moldova, Kazakstan, Kyrgyzstan, Tajikistan,
                                    Uzbekistan, Turkmenistan, Ukraine, Republic
                                    of Belarus, Lithuania, Latvia, Estonia
         NMC Music Ltd.             Israel
         Vidisco                    Portugal
         Planet Records             Italy

Revenue is recognized in accordance with Staff Accounting Bulleting No. 104 (SAB
104) when persuasive evidence of an arrangement exists, the price to the buyer
is fixed or determinable; delivery had occurred or services have been rendered
or the license period has begun; and collectibi0n is reasonably assured.

Revenue from the distribution of recordings under license and distribution
agreements is recognized as earned under the criteria established by Statement
of Financial Accounting Standard No. 50. Revenue is generally recognized when
the Company receives an "accounting" of recordings sold with payment from the
licensee. In the event the Company has not received an "accounting" from the
licensee and if the Company has information related to the licensed use of
recordings that would result in the revenue being fixed and determinable, and
collection is reasonably assured, then revenue is recognized in the periods in
which the license revenue is earned. Minimum guarantees (advances) received from
licensees are recorded as deferred revenue and are amortized over the
performance period, which is generally the period covered by the agreement.


                                        6
<PAGE>


Results of Operations

The Company presents this discussion and analysis as a comparison between the
audited financial data for March 31, 2006 and 2005 for informational purposes.

Year Ended March 31, 2006 Compared to the Year Ended March 31, 2005

Revenues - The Company had $64,937 of revenue for the year ended March 31, 2006,
compared to $120,862 of revenue for the year ended March 31, 2005. The decrease
in revenue is primarily due to a decrease of $53,667 from licensing agreements
to distribute 3rd Wish's music.

Operating Expenses - Operating expenses for the year ended March 31, 2006, were
$914,499, a decrease of $396,434 or 30% from $1,310,933 for the year ended March
31, 2005. The decrease is primarily due to a decrease in production expenses
related to video shoots and recordings of approximately $442,000, a decrease in
advertising of approximately $115,000, and an increase in travel and related
support for artists in Germany of approximately $161,000.

General and Administrative Expenses - General and administrative expenses
increased 12% to $357,598 for the year ended March 31, 2006 from $318,150 for
the year ended March 31, 2005. This increase is attributable to a $29,800
increase in salaries and benefits plus $9,200 increase in other general and
administrative expense.

Interest Expense - Interest expense increased 101% to $169,369 for the year
ended March 31, 2006 from $84,248 for the year ended March 31, 2005. This
increase is attributable to having more debt outstanding for the year ended
March 31, 2006.

As a result of the foregoing, the net operating loss of the company decreased
14% to $1,376,529 for the year ended March 31, 2006 from $1,592,469 for the year
ended March 31, 2005.

Liquidity and Capital Resources

As of March 31, 2006, the Company had cash of $62,383 and a deficit in working
capital of $1,852,361.

For the year ended March 31, 2006, the Company used $873,349 in operating
activities which is primarily due to a net loss of $1,376,529, a decrease in
accounts receivable of 114,257, and a decrease in prepaid expenses and deposits
of $35,616. These are offset by depreciation expense of $3,704, increase in
accounts payable and accrued liabilities of $159,363, increase in interest
payable to affiliates of $132,298, and a decrease in deferred revenue of
$10,828.

For the year ended March 31, 2006, the Company used $863 for investing
activities. All of the cash used by investing activities was for the purchase of
equipment.

For the year ended March 31, 2006 cash provided by financing activities was
$884,400. The amount represents $276,400 provided by the issuance of common
stock, $643,000 which represents the proceeds from notes payable to a
shareholder, and $35,000 which represents notes payable to affiliates and others
which was reduced by $70,000 for the repayment of loans. Because of the
continued net operating losses of the Company, the Company will not be able to
continue as a going concern unless it is able to sell its shares or obtain third
and/or related party loans. Although the principal shareholder and affiliates of
the Company has been willing to lend funds to the Company in the past, there is
no obligation for them to do so in the future. Without such funding, or the sale
of its shares, the Company will have insufficient funds to execute its business
plans for the next twelve months.

ITEM 7.  FINANCIAL STATEMENTS


                                        7
<PAGE>




                        SKREEM ENTERTAINMENT CORPORATION
                          (A Development Stage Company)





                        CONSOLIDATED FINANCIAL STATEMENTS
          WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
             March 31, 2006 and 2005, and the period from inception,
                     August 19, 1999, through March 31, 2006


                                       F-1
<PAGE>


                        SKREEM ENTERTAINMENT CORPORATION
                          (A Development Stage Company)


<TABLE>


                                                                                   Page
<S>                                                                              <C>


Report of Independent Registered Public Accounting Firm                            F-3

Consolidated Financial Statements:

  Consolidated Balance Sheet as of March 31, 2006                                  F-4

  Consolidated Statements of Operations for the years ended March 31, 2006, and
    2005 and for the period from inception,
    August 19, 1999, through March 31, 2006                                        F-5

  Consolidated Statements of Changes in Shareholders'
    Deficit for the period from inception, August 19, 1999,
    through March 31, 2006                                                         F-6

  Consolidated Statements of Cash Flows for the years ended March 31, 2006,and
    2005 and the period from inception, August 19, 1999, through March 31, 2006    F-8

Notes to Consolidated Financial Statements                                         F-9

</TABLE>


                                       F-2



<PAGE>



             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Stockholders and Board of Directors
Skreem Entertainment Corporation:


We have audited the accompanying consolidated balance sheet of Skreem
Entertainment Corporation (the "Company"), a development stage company, as of
March 31, 2006, and the related consolidated statements of operations,
stockholders' equity (deficit) and cash flows for the years ended March 31, 2006
and 2005, and for the period from inception, August 19, 1999, through March 31,
2006. These consolidated financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we 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. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the consolidated financial position of Skreem
Entertainment Corporation as of March 31, 2006, and the consolidated results of
its operations and its cash flows for the years ended March 31, 2006 and 2005,
and for the period from inception, August 19, 1999, through March 31, 2006, in
conformity with accounting principles generally accepted in the United States of
America.

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern. As discussed in Note 1 to the
consolidated financial statements, the Company is in the development stage and
has suffered recurring losses from operations and had a net capital deficit,
which raises substantial doubt about its ability to continue as a going concern.
Management plans to continue funding the operation through an affiliate owned by
a major shareholder of the Company. The consolidated financial statements do not
include any adjustments that might result from the outcome of this uncertainty.


                                    /S/ Ham, Langston & Brezina, L.L.P.


Houston, Texas
June 20, 2006



                                       F-3
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                           CONSOLIDATED BALANCE SHEET
                                 March 31, 2006



      ASSETS

Current assets:
    Cash and cash equivalents                                    $      62,383
                                                                 -------------

        Total current assets                                            62,383

Property and equipment, net                                              7,030
                                                                 -------------

            Total assets                                          $     69,413
                                                                 =============


LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities:
    Accounts payable and accrued liabilities                      $    173,410
    Related party payable                                                9,254
    Accrued interest payable - affiliates and shareholder              217,190
    Notes payable - shareholder                                        556,770
    Notes payable - affiliates                                         933,620
    Deferred revenue                                                    24,500
                                                                  ------------

        Total current liabilities                                    1,914,744
                                                                  ------------

Commitments and contingencies

Shareholders' deficit
  Preferred stock, par value $0.001, 1,000,000
      shares authorized, no shares issued and outstanding                    -
  Common stock, par value $0.001, 50,000,000
      shares authorized, 24,484,256 shares issued
      and outstanding                                                   24,484
  Paid-in capital                                                    3,235,847
  Deficit accumulated during the development stage                  (5,105,662)
                                                                  ------------

        Total shareholders' deficit                                 (1,845,331)
                                                                  ------------

            Total liabilities and shareholders' deficit          $      69,413
                                                                  ============



                   The accompanying notes are an integral part
                   of these consolidated financial statements
                                       F-4
<PAGE>




                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF OPERATIONS



                                  Year Ended       Year Ended      Inception to
                                   March 31,       March 31,         March 31,
                                     2006            2005              2006
                                  -----------     -----------      ------------

Revenues                        $     64,937     $    120,862      $   188,725

Operating expenses                  (914,499)      (1,310,933)      (3,325,362)
General and administrative
  expenses                          (357,598)        (318,150)      (1,356,419)
Impairment of loan receivable              -                -         (130,000)
                                  -----------    -------------     ------------

  Loss from operations            (1,207,160)      (1,508,221)      (4,623,056)

Interest expense                    (169,369)         (84,248)        (482,606)
                                  -----------    --------------    ------------

Net loss                        $ (1,376,529)    $ (1,592,469)    $ (5,105,662)
                                  ===========    ==============    ============

Basic and diluted net loss
  per share                     $      (0.06)    $      (0.06)
                                  ===========    ==============

Weighted average shares
  outstanding                     23,148,786       24,813,714
                                 ============    =--===========


                   The accompanying notes are an integral part
                   of these consolidated financial statements
                                       F-5
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
           CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT
             from inception, August 19, 1999, through March 31, 2006

<TABLE>


                                                         Additional          Retained
                          Common          Stock           Paid-In            Earnings
                          Shares          Amount          Capital            (Deficit)        Total
                         --------        --------       -------------       -----------      -------
<S>                      <C>            <C>             <C>                 <C>              <C>

Balance at inception,
  August 19, 1999                 -    $         -    $           -     $          -    $         -

Issuance of common
  stock                      20,000             20                -                -             20

Net loss                          -              -                -          (84,021)       (84,021)
                        -----------    -----------    -------------     ------------    -----------

Balance at
  December 31, 1999          20,000             20                -          (84,021)       (84,001)

Net loss                          -              -                -         (230,879)      (230,879)
                        -----------    -----------    -------------     ------------    -----------

Balance at
  December 31, 2000          20,000             20                -         (314,900)      (314,880)

Net loss                          -              -                -         (494,816)      (494,816)
                        -----------    -----------    -------------     ------------    -----------

Balance at
  December 31, 2001          20,000             20                -         (809,716)      (809,696)

Net loss                          -              -                -         (384,590)      (384,590)
                        -----------    -----------    -------------     ------------    -----------

Balance at
  December 31, 2002          20,000             20                -       (1,194,306)    (1,194,286)

Reclassification of debt
  to equity                  43,000             43        1,581,940                -      1,581,983

Net loss                          -              -                -         (736,364)      (736,364)
                        -----------    -----------    -------------     ------------    -----------

Balance at
  December 31, 2003          63,000             63        1,581,940       (1,930,670)      (348,667)

Effect of issuance of
  common stock and
  recapitalization in
  reverse acquisition
  transaction            25,943,925         25,944          (25,944)                -              -

Net loss                          -              -                -          (205,994)      (205,994)
                        -----------    -----------    -------------     -------------    -----------

Balance at
  March 31, 2004         26,006,925    $    26,007    $   1,555,996     $  (2,136,664)   $  (554,661)
                        ===========    ===========    =============     =============    ===========


</TABLE>


                   The accompanying notes are an integral part
                   of these consolidated financial statements
                                       F-6
<PAGE>





                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
           CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT
             from inception, August 19, 1999, through March 31, 2006


<TABLE>

                                                               Additional        Retained
                             Common            Stock            Paid-In          Earnings
                             Shares            Amount           Capital          (Deficit)          Total
                            ---------         --------         ----------       -----------        -------
<S>                         <C>              <C>               <C>               <C>               <C>

Balance at
  March 31, 2004              26,006,925    $   26,007    $   1,555,996     $  (2,136,664)   $    (554,661)

Proceeds from issuance
  of common stock                603,856           604          301,324                 -          301,928

Cancellation of shares        (3,502,925)       (3,503)           3,503                 -                -

Net loss                               -             -                -        (1,592,469)      (1,592,469)
                           -------------    ----------    -------------     -------------    -------------

Balance at
  March 31, 2005              23,107,856        23,108        1,860,823        (3,729,133)      (1,845,202)

Proceeds from issuance
  of common stock                276,400           276          276,124                 -          276,400

Stock issued for accounts
   payable                        50,000            50           49,950                 -           50,000

Stock issued for
  conversion of debt           1,050,000         1,050        1,048,950                 -        1,050,000

Net loss                               -             -                -        (1,376,529)      (1,376,529)
                           -------------    ----------    -------------     -------------    -------------

Balance at March 31,
  2006                        24,484,256    $   24,484    $   3,235,847     $  (5,105,662)   $  (1,845,331)
                           =============    ==========    =============     =============    =============

</TABLE>


                   The accompanying notes are an integral part
                   of these consolidated financial statements
                                       F-7
<PAGE>


                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>

                                                              Year Ended        Year Ended       Inception to
                                                               March 31,         March 31,           March 31,
                                                                 2006              2005              2006
                                                              ----------       ------------       ------------
<S>                                                           <C>              <C>                <C>


Cash flows from operating activities:
  Net loss                                                    $  (1,376,529)    $  (1,592,469)   $  (5,105,662)
  Adjustments to reconcile net loss to
    net cash used in operating activities:
    Depreciation expense                                              3,704             8,465           44,584
    Impairment of loan receivable                                         -                 -          130,000
    Accrued interest payable converted to equity                          -                 -          208,405
    Expenses paid by shareholder and affiliate                       68,770            53,026          121,796
    Changes in operating assets and liabilities:
      Decrease (increase) in accounts receivable                    114,257          (114,257)               -
      Decrease (increase) in prepaid expenses and deposits           35,616           (15,695)               -
      Increase in accounts payable and accrued liabilities          159,363            30,159          232,665
      Increase in interest payable to affiliates                    132,298            69,236          217,190
      Increase (decrease) in deferred revenue                       (10,828)           35,328           24,500
                                                              -------------     -------------    -------------

        Net cash used in operating activities                      (873,349)       (1,526,207)      (4,126,522)
                                                              -------------     -------------    -------------

Cash flows from investing activities:
  Purchase of property and equipment                                   (863)          (11,440)         (51,614)
  Loan receivable                                                         -                 -         (130,000)
                                                              -------------     -------------    -------------

        Net cash used by investing activities                          (863)          (11,440)        (181,614)
                                                              -------------     -------------    -------------

Cash flows from financing activities:
  Proceeds from issuance of common stock                            276,400           301,928          578,328
  Proceeds from notes payable-other                                  20,000           365,000          385,000
  Proceeds from notes payable-shareholder                           643,000           880,000        1,523,000
  Proceeds from notes payable to affiliates                          15,000           475,000        2,439,191
  Principal payments on notes payable to affiliates                       -           (90,000)        (140,000)
  Principal payments on notes payable-other                         (70,000)         (265,000)        (335,000)
  Principal payments on notes payable-shareholder                         -           (80,000)         (80,000)
                                                              -------------     -------------    -------------

        Net cash provided by financing activities                   884,400         1,586,928        4,370,519
                                                              -------------     -------------    -------------

Net increase in cash and cash equivalents                            10,188            49,281           62,383

Cash and cash equivalents, beginning of year                         52,195             2,914                -
                                                              -------------     -------------    -------------

Cash and cash equivalents, end of year                        $      62,383     $      52,195    $      62,383
                                                              =============     =============    =============


</TABLE>



                   The accompanying notes are an integral part
                   of these consolidated financial statements

                                       F-8

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.     Nature of Operations and Summary of Significant Accounting Policies

       Nature of the Business and Merger

     Stanford Capital Corporation (Stanford) was incorporated under the laws of
     the State of Delaware on June 11, 1992. During January 2004, Stanford
     acquired all of the issued and outstanding shares of common stock of Skreem
     Entertainment Corporation (Skreem) in exchange for 22,000,000 post reverse
     split shares of common stock, par value $0.001 per share, to holders of
     Skreem's common stock. The transaction is considered a reverse merger and
     Skreem became a wholly owned subsidiary of Stanford. Stanford and Skreem
     are collectively referred to as "the Company". On March 16, 2004 the
     Company filed a Certificate of Amendment with the Delaware Secretary of
     State changing the Company's name to Skreem Entertainment Corporation and
     reverse splitting the Company's shares on a one (1) for five (5) basis. The
     financial statements herein reflect the effect of the reverse stock split.
     The proforma effects of the reverse merger are not material to the
     consolidated financial statements.

     Skreem is a development stage company that was incorporated in Nevada on
     August 19, 1999. Skreem was formed to promote, finance and manage artists
     and projects in the music industry and is located in the State of Florida.

       Basis of Presentation and Consolidation

     The consolidated financial statements have been prepared in accordance with
     accounting principles generally accepted in the United States of America.
     The Company has elected to continue the fiscal year of the legal acquirer
     (registrant).

     The consolidated financial statements include the financial statements of
     the Company and its wholly owned subsidiary. All significant intercompany
     balances and transactions, including intercompany profits and unrealized
     profits and losses are eliminated on consolidation.

       Cash and Cash Equivalents

     Cash and cash equivalents consist of cash on hand and on deposit at a major
     financial institution. The Company considers highly liquid investments with
     original maturities of three months or less when purchased to be cash
     equivalents.

      Advances to Artists

     The Company advances monies to artists upon the artist signing the
     "Exclusive Recording Artist Agreement." An advance paid to an artist shall
     be reported as an asset if the past performance and current popularity of
     the artist to whom the advance is made provide a sound basis for estimating
     that the amount of the advance will be recoverable from future royalties to
     be earned by the artist. Any portion of advances that subsequently appear
     not to be fully recoverable from future royalties to be earned by the
     artist shall be charged to expense during the period in which the loss
     becomes evident.

                              F-9
<PAGE>


                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.   Nature of  Operations  and  Summary  of  Significant  Accounting  Policies,
     Continued

       Property and Equipment

     Property and equipment are stated at cost. Provisions for depreciation are
     computed using the double-declining method based on the estimated useful
     lives of the assets, generally three to seven years. Expenditures that
     increase the value or extend the life of the asset are capitalized, while
     cost of maintenance and repairs are expensed as incurred. Leasehold
     improvements are amortized on a straight-line basis over the shorter of the
     useful life of the improvement or the term of the lease. When assets are
     retired or otherwise disposed of, the cost and related accumulated
     depreciation are removed from the accounts, and any resulting gain or loss
     is recognized.

     In accordance with Statement of Financial Accounting Standards (SFAS)
     No.144, "Accounting for the Impairment or Disposal of Long-lived
     Assets,"the Company examines the possibility of decrease in value of fixed
     assets when events or changes in circumstances reflect the fact that their
     recorded value may not be recoverable.

       Record Masters

     A record master borne by the Company is reported as a cost of production
     when the past performance and current popularity of the artist does not
     provide a sound basis for estimating that the cost will be recovered from
     future sales.

       Revenue Recognition

     Revenue is recognized in accordance with Staff Accounting Bulletin No.104
     (SAB 104) when persuasive evidence of an arrangement exists, the price to
     the buyer is fixed or determinable; delivery has occurred or services have
     been rendered or the license period has begun; and collection is reasonably
     assured.

     Revenue from the distribution of recordings under license and distribution
     agreements is recognized as earned under the criteria established by
     Statement of Financial Accounting Standard No. 50.Revenue is generally
     recognized when the Company receives an "accounting" of recordings sold
     with payment from the licensee. In the event the Company has not received
     an "accounting" from the licensee and if the Company has information
     related to the licensed use of recordings that would result in the revenue
     being fixed and determinable, and collection is reasonably assured, then
     revenue is recognized in the periods in which the license revenue is
     earned. Minimum guarantees (advances) received from licensees are recorded
     as deferred revenue and are amortized over the performance period, which is
     generally the period covered by the agreement.

     Advertising Costs

     All costs related to general advertising are charged to expense as
     incurred. For the year ended March 31, 2006 and 2005, the Company recorded
     total advertising expense of $1,266 and $116,046, respectively.

     Operating Expenses

     Operating expenses include music production costs, artist compensation
     costs, and other operating expenses. The Company enters into production,
     promotion and related consulting agreements in the ordinary course of
     business.




                                      F-10
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.   Nature of  Operations  and  Summary  of  Significant  Accounting  Policies,
     Continued

     Use of Estimates

     The preparation of financial statements in conformity with general accepted
     accounting principles in the United States of America requires management
     to make estimates and assumptions that affect the reported amounts of
     assets and liabilities at the date of the financial statements and the
     reported amounts of revenues and expenses during the reporting period.
     Actual results could differ from those estimates.

       Income Taxes

     From inception of the Company through August 31, 2003, the Company had
     elected to be taxed under Subchapter S of the Internal Revenue Code. As a
     result, corporate income or loss passes through to the shareholders and
     therefore, no provision for federal or state income taxes has been recorded
     by the Company. On August 31, 2003, the Company converted certain debt and
     accrued interest owed to affiliates to equity. The affiliates were a
     corporation and a partnership that made the Company ineligible to be taxed
     under subchapter S of the Internal Revenue Code. Subsequent to August 31,
     2003, the Company accounts for income tax using Statements of Financial
     Accounting (SFAS) No. 109 "Accounting for Income Taxes."

       Recent Accounting Pronouncements

      In May 2005, the FASB issued SFAS No. 154, "Accounting Changes and Error
     Corrections, a Replacement of APB Opinion No. 20 and FASB Statement No. 3."
     SFAS No. 154 requires retrospective application of changes in accounting
     principle to prior periods' financial statements, rather than the use of
     the cumulative effect of a change in accounting principle, unless
     impracticable. If impracticable to determine the impact on prior periods,
     then the new accounting principle should be applied to the balances of
     assets and liabilities as of the beginning of the earliest period for which
     retrospective application is practicable, with a corresponding adjustment
     to equity, unless impracticable for all periods presented, in which case
     prospective treatment should be applied. SFAS No. 154 applies to all
     voluntary changes in accounting principle, as well as those required by the
     issuance of new accounting pronouncements if no specific transition
     guidance is provided. SFAS No. 154 does not change the previously issued
     guidance for reporting a change in accounting estimate or correction of an
     error. SFAS No. 154 becomes effective for accounting changes and
     corrections of errors made in fiscal years beginning after December 15,
     2005. The Company does not expect this policy to have a material impact on
     its financial position, results of operations or cash flows.

       Going Concern

     The accompanying financial statements have been prepared on a going concern
     basis, which contemplates the realization of assets and the satisfaction of
     liabilities in the normal course of business. The Company sustained losses
     of $1,376,529 and $1,592,469,for the year ended March 31, 2006, and the
     year ended March 31, 2005 respectively. The Company had an accumulated
     deficit of $5,105,662 at March 31, 2006. These factors raise substantial
     doubt about the ability of the Company to continue as a going concern for a
     reasonable period of time. The Company is highly dependent on its ability
     to continue to obtain investment capital and loans from an affiliate and
     shareholder in order to fund the current and planned operating levels. The
     consolidated financial statements do not include any adjustments relating
     to the recoverability and classification of recorded asset amounts or the
     amounts and classification of liabilities that might be necessary should
     the Company be unable to continue as a going concern. The Company's
     continuation as a going concern is dependent upon its ability to continue
     receiving investment capital and loans from an affiliate and shareholder to
     complete promotion of the Company's artists, continue production of music
     and achieve a level of success that will enable it to sustain its
     operations. No assurance can be given that the Company will be successful
     in these efforts.


                                      F-11
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS



2.   Property and Equipment

     Property and equipment is comprised of the following at March 31, 2006:

        Furniture                                          $      18,161
        Music and computer equipment                              29,468
                                                           -------------

                                                                  47,629
        Less: accumulated depreciation                           (40,599)
                                                           -------------

                                                           $       7,030

     Depreciation expense was $ 3,704, and $8,465, for the years ended March 31,
2006 and 2005, respectively.

3.   Income Taxes

     From inception of the Company through August 31, 2003, the Company had
     elected to be taxed under Subchapter S of the Internal Revenue Code. As a
     result, corporate income or loss passes through to the shareholder and
     therefore, no provision for federal or state income tax was recorded by the
     Company. On August 31, 2003, the Company converted certain debt and accrued
     interest owed to affiliates to equity. The affiliates were a corporation
     and a partnership that made the Company ineligible to be taxed under
     subchapter S of the Internal Revenue Code. Subsequent to August 31, 2003,
     the Company accounts for income tax using Statements of Financial
     Accounting (SFAS) No. 109 "Accounting for Income Taxes."

     The following table sets forth a reconciliation of federal income tax for
     the years ended March 31, 2006 and 2005:

                                                    Year Ended      Year Ended
                                                    March 31,       March 31,
                                                      2006               2005
                                                    ------------    -----------

     Loss before income taxes                       $ (1,376,529)  $ (1,592,469)

     Income tax benefit computed at statutory rates     (468,020)     ( 541,439)
     Increase in valuation allowance                     628,732        540,596
     Permanent differences                                 2,871            843
     Adjustment to deferred tax assets                  (163,583)             -
                                                    ------------   ------------

        Tax benefit                                 $          -   $          -
                                                    ============   ============



                                      F-12
<PAGE>


                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


3.   Income Taxes, Continued

     As of March 31, 2006, the Company has net operating loss carryforwards of
     approximately $2,178,000. The carryforwards begin to expire in the year
     2023. The Company's net operating loss carry forwards may be subject to
     annual limitations, which could reduce or defer the utilization of the
     losses as a result of an ownership change as defined in section 382 of the
     Internal Revenue Code. The tax effects of the temporary differences between
     reportable financial statement income and taxable income are recognized as
     a deferred tax asset and liability.

     Significant components of the deferred tax assets are set out below along
     with a valuation allowance to reduce the net deferred tax asset to zero. In
     order to comply with generally accepted accounting principles, management
     has decided to establish the valuation allowance because of the potential
     that the tax benefits underlying deferred tax asset may not be realized.
     Significant components of the Company's deferred tax asset at March 31,
     2006 are as follows:

     Net operating loss carryforwards               $     740,421
     Deferred revenues                                      8,330
     Deferred expenses                                    573,109
     Less: valuation allowance                         (1,321,860)
                                                    -------------

        Net deferred tax assets                     $           -
                                                    =============


4.   Notes Payable

     Shareholder

     On May 26, 2004 the Company borrowed $100,000 from Sugarcreek Capital, LLC.
     The terms of the note call for repayment of $104,000 on or before July 30,
     2004. As security for the loan, Jeffrey D. Martin, a major stockholder, put
     up his 1/3 interest in Osceola Partners. On August 19, 2004 the note
     payable to Sugarcreek Capital, LLC was transferred to Jeffrey D. Martin, a
     major stockholder, in exchange for his 1/3 interest in Osceola Partners.
     This note is payable on demand.

     During the year ended March 31, 2006, Jeffrey D. Martin loaned the Company
     $711,770. The notes are payable on demand and bear interest at the rate of
     8% per year. Accrued interest at March 31, 2006 was $73,575. Interest
     payments to Jeffrey D. Martin during the year ended March 31, 2006 were
     $32,787. There were no principal payments of these notes during the year
     ended March 31, 2006. The dates and amounts of these individual note
     agreements entered into during the year ended March 31, 2006 and
     outstanding are as follows:

          Date of Note                                Amount

     June 30, 2005                                $     219,000
     September 30, 2005                                 264,000
     December 31, 2005                                  228,770
                                                  -------------

        Total                                     $     711,770
                                                  =============

     On March 29, 2006 notes payable to Jeffrey D. Martin totaling $1,000,000
     were converted to 1,000,000 shares of common stock.



                                      F-13
<PAGE>


                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


4.   Notes Payable, continued

     Affiliates

     The  Company's  Board of  Directors  held a meeting on August 30,  2003 and
     unanimously approved a proposal received from Martin Consultants,  Inc. and
     JT Investments,  Ltd.,  affiliates of the Company,  to convert the debt and
     accrued interest owed by the Company to equity.  Martin  Consultants,  Inc.
     and JT Investments, Ltd. are 100% and 50%, respectively owned by Jeffrey D.
     Martin.  The notes payable of $1,373,600  and related  accrued  interest of
     $208,383  were  reclassified  to  equity  on  August  31,  2003 and  Martin
     Consultants, Inc. was issued 43,000 shares (pre-merger) of common stock.

     On January 27, 2004, the Company borrowed $39,592 from JT Investments, Ltd.
     The note is unsecured, bears interest at the rate of 8% per year and is
     payable on demand. The entire principal balance is outstanding at March 31,
     2006. The Company recorded interest expense of $3,167 related to the note
     for the years ended March 31, 2006 and 2005.

     At March 31, 2006, the balance of notes payable to Martin Consultants,
     Inc., a company owned by Jeffrey D. Martin, was $879,028. The notes bear
     interest at the rate of 8% per year and are secured by assets of the
     Company. The Company recorded interest expense of $ $70,323, and $45,162
     related to these notes for the year ended March 31, 2006, and year ended
     March 31, 2005, respectively. The dates and amounts of the individual note
     agreements with Martin Consultants, Inc. that remain outstanding at March
     31, 2006 are as follows:

         Date of Note                                      Amount

         December 31, 2003                               $     304,000
         January 7, 2004                                        20,000
         February 15, 2004                                      20,000
         February 25, 2004                                      20,000
         March 8, 2004                                          10,000
         March 11,2004                                          12,000
         March 15,2004                                          10,000
         March 24,2004                                          15,000
         March 31, 2004                                         10,000
         April 6, 2004                                          10,000
         April 12, 2004                                         10,000
         July 23, 2004                                          20,000
         July 30, 2004                                          10,000
         January 7, 2005                                       400,000
         March 31, 2005                                          8,028
                                                         -------------

            Total                                        $     879,028
                                                         =============

                                      F-14
<PAGE>


                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


4.   Notes Payable, continued

     Others

     On January 24, 2005, the Company borrowed $100,000 from Market Management,
     Inc (MMI). The note is unsecured, payable on demand and bears interest at a
     rate of 10% per year. The Company recognized interest expense of $6,890
     during the year ended March 31, 2006, related to this note. On August 17,
     2005 the Company repaid $50,000 of the principal and on January 30, 2006
     the remaining principal was converted to 50,000 shares of common stock. At
     March 31, 2006 the Company owes $1,878 accrued interest related to this
     note.

5.   Capital Transactions

     The Company has offered a Private Placement Memorandum ("PPM") that offers
     for sale a maximum of 3,000,000 and a minimum of 1,000,000 shares of its
     common stock, $.001 par value at $.50 per share ("the Offering"). The
     shares are offered on a "best efforts" basis. The Offering will be made in
     reliance upon an exemption from registration under the federal securities
     laws provided by Regulation D as promulgated by the United States
     Securities and Exchange Commission ("SEC"). The Offering will terminate
     upon the earlier of (i) the sale of the 3,000,000 shares or (ii) May 31,
     2004 unless extended by the Company for 120 days. The Company did extend
     the offering for 120 days and issued 603,856 shares with proceeds of
     $301,928. The Company amended the PPM reducing the share minimum to 100,000
     shares. The offering concluded after the 120-day extension.

     On October 6, 2004 3,502,925 shares of common stock were returned to the
treasury and cancelled.

     On January 30, 2006 the Company converted a remaining $50,000 note payable
     to Market Management to 50,000 shares of common stock.

     On March 29, 2006 the Company converted $1,000,000 of notes payable to
     Jeffrey D. Martin to 1,000,000 shares of common stock.

     During the year ended March 31, 2006, the Company received cash proceeds of
     $276,400 from the issuance of 276,400 shares of common stock.

6.   Related Party Transactions

     Related party payables at March 31, 2006, consisted of $9,254 for health
     insurance as of March 31, 2006. Additionally, notes payable to affiliates
     and a major shareholder at March 31, 2006 are presented at Note 5.

     The Company promotes an artist who is the son of the Company's major
     shareholder. Total advances to the son are approximately $469,400 as of
     March 31, 2006.

     On March 1, 2003, the Company entered into an agreement with All Star
     Consulting that established a fee of $5,000 per month, plus rent of an
     apartment and lease of a car, for services rendered as a Manager of artists
     in Germany. Effective January 2005, the agreement was amended to increase
     the fee paid to All Star Consulting to $6,500 per month. Tony Harrison, a
     Vice President and Director of the Company, owns All Star consulting. In
     connection with the agreement, the Company expensed promotion fees of
     approximately $78,000, and $64,500 for the years ended March 31, 2006 and
     2005, respectively.

7.   Operating Leases

     The Company leases a vehicle and housing in Germany for the Artists and
     Manager. Rent expense under these leases was $75,404, and $68,999 for the
     years ended March 31, 2006 and 2005, respectively.

     There are no significant future minimum non-cancelable lease payments to be
     made after March 31, 2006 as all significant lease commitments have been
     met.

                                      F-15
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


9.   Nu-Sol Agreement And Impairment

     During May 2000, the Company entered into a financing agreement with Nu-Sol
     Productions, Inc. (NU-SOL). The purpose of the agreement is for NU-SOL to
     produce, manufacture, market, and commercially exploit the first LP by
     Precious Francis "Precious" entitled "Big Girls Don't Cry" and singles
     derived from the LP (the Property). The Company funded costs and expenses
     of $130,000 with respect to the production, manufacturing, marketing, and
     exploitation of the Property. Under terms established by the NU-SOL
     agreement, net revenues are to be distributed first to the Company, until
     the Company recoups 100% of the $130,000 advanced plus an additional
     $39,000. Thereafter, the Company receives 30% of all net revenues. The
     Company originally recorded the advance to NU-SOL as a loan receivable, but
     during 2001, the Company deemed the advance uncollectible and recognized an
     impairment charge.

10.  Distribution And Service Agreements

     During May 2004, the company entered into a five and one-half year
     Distribution and Service Agreement with Cheyenne Records GmbH (Cheyenne).
     The agreement grants Cheyenne certain exclusive rights to distribute and
     sell recordings by 3rd Wish in Germany, Switzerland and Austria. Under the
     agreement, Cheyenne is to receive a distribution and service fee of 45% of
     all net receipts (gross receipts less Value Added Tax of approximately
     16%). The agreement requires Cheyenne to perform certain services including
     booking commercial concerts and concert tours, securing personal
     appearances of "3rd Wish", securing advertising, endorsements and related
     activities of "3rd Wish", and music publishing/sub-publishing throughout
     the territory. In consideration for these services except music
     publishing/sub-publishing, Cheyenne is to receive 35% of all net receipts
     paid by third parties. The agreement provides for the Company/Cheyenne to
     split music publishing revenues on a 75%/25% basis. The Company recorded
     license revenue of $19,774 and $115,227 for the years ended March 31, 2006
     and 2005 respectively.

     During April 2005, the Company entered into a 5.5 year Distribution and
     Service Agreement with Cheyenne Records GHbh (Cheyenne). The agreement
     grants Cheyenne certain exclusive rights to distribute and sell recordings
     of the artist "Pat Moe" in Germany, Switzerland and Austria. Cheyenne is to
     receive a distribution and service fee of 30% to 36% of all net receipts
     (gross receipts less Value Added Tax of approximately 16%). In addition,
     Cheyenne will perform certain services including booking commercial
     concerts and concert tours, securing personal appearances of "Pat Moe",
     securing advertising, endorsements, and related activities of "Pat Moe" and
     music publishing/subpublishing throughout the territory. In consideration
     for these services, except music publishing/subpublising, Cheyenne is to
     receive 15-30% of all net receipts. The Company/Cheyenne shall split music
     publishing revenues on a 75%/25% basis. The Company has not recorded any
     revenue related to this agreement.

11.  Business Management Agreement

     On June 14, 2005, the Company entered into a business management agreement
     with Mr. Andy Lai for services performed in Asia that continues in until
     written notice of termination is given by either party. Mr. Lai is to act
     as Business Manager and his services include contract negotiations,
     securing recordings distribution, arranging live performances and tours,
     securing of sponsorships, as well as other business activities that are
     necessary for the advancement of the artists that are represented by the
     Company. Under the agreement, the Company is to compensate Mr. Lai ten
     percent (10%) of the net revenues collected as a direct result of his
     negotiations in Asia and should the Company through its own resources enter
     into a recording or distribution agreement with a major company and the
     agreement includes Asia, Mr. Lai is to be compensated five percent (5%) of
     the net revenues resulting from such agreement. The Company has not
     recorded any transactions related to this agreement. On December 14, 2005,
     the Company terminated the agreement.



                                      F-16
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


12.  License Agreements

     On October 11, 2004, the Company entered into a fifteen-year license
     agreement with Three8 Music Limited (Three8). The terms of the license
     agreement grant Three8 all rights to the single release by "3rd Wish"
     entitled "Obsession" in the United Kingdom and Eire, for which the Company
     earns royalties of 19% calculated on 100% sales of Three8's published
     dealer price less certain packaging deductions. Additionally, for any third
     party licensing or digital delivery, the Company is to receive 50% of
     Three8's net United Kingdom sourced royalty receipts. In connection with
     the license agreement, the Company received a $15,000 advance that was
     initially recorded as deferred revenue and will be recognized as revenue as
     license fees are earned under the agreement. At March 31, 2006, the
     accompanying financial statements reflect license fees of $1,000 and
     deferred revenue of $13,500 related to this agreement.

     On November 12, 2004, the Company entered into a five year license
     agreement with NRJ Music (NRJ). The license agreement grants NRJ the
     exclusive right to the audio and/or audiovisual recordings of "3rd Wish"
     for the purpose of reproducing them on all media in France, Dom Tom,
     Andorra, Monaco, and Belgium. In consideration of the exclusive rights
     granted, JR shall pay the Company a royalty for sales (less returns) of
     19-22% in France, Dom Tom, Andorra and Monaco and 13-15% in Belgium. In
     addition the Company may earn additional royalties related to phonograms,
     videograms, and other digital media as defined in the agreement. In
     connection with the license agreement, the Company received a $16,822
     advance that was initially recorded as deferred revenue and will be
     recognized as revenue as license fees are earned under the agreement. At
     March 31, 2006, the accompanying financial statements reflect license fees
     of $33,860 related to this agreement.

     On November 26, 2004, the Company entered into a five-year license
     agreement with Shock Records Pty Ltd (Shock). The license agreement grants
     Shock the exclusive right to the single release by "3rd Wish" entitled
     "Obsession" in Australia and New Zealand. Under the license agreement the
     Company is to receive royalties of 18-22% of net sales, which excludes any
     sales tax and includes any discounts. Shock retains the right to license
     the recording for third party, compilation and synchronization use in the
     territory and the Company shall receive 50% of any third party income.
     Shock retains exclusive right to copy, extract, digitally encode, sell,
     distribute, and otherwise exploit the recording in digital format via any
     interactive technology. In connection with the license agreement, the
     Company received a $5,150 advance that was initially recorded as deferred
     revenue and will be recognized as revenue as license fees are earned under
     the agreement. At March 31, 2006, the accompanying financial statements
     reflect license fees of $1,030 and deferred revenue of $3,691 related to
     this agreement.

     On December 14, 2004, the Company entered into a three-year license
     agreement with NMC Music Ltd. (NMC). The license agreement grants NMC
     exclusive rights to the single release by "3rd Wish" entitled "obsession"
     in Israel. The Company shall receive royalties of 18% calculated on 100% of
     net sales. The Company recorded revenue of $987 related to this agreement
     in the year ended March 31, 2006.

     On January 17, 2005, the Company entered into a three-year license
     agreement with Megaliner Records (Megaliner). The license agreement grants
     Megaliner exclusive rights to the single release by "3rd Wish" entitled
     "Obsession" including all available remixes. The territories covered by the
     license agreement with Megaliner includes Russia, Azerbaijan, Armenia,
     Georgia, Moldova, Kazakstan, Krygystan, Tajikistan, Uzbekistan,
     Turkmenistan, Ukraine, Republic of Belarus, Lithuania, Lativa and Estonia.
     Under the terms of the agreement the Company is to receive royalties of 20%
     of the published dealer price with no deductions allowed. In addition the
     Company/Megaliner shall split any third party income and broadcasting
     income on a 60%/40% basis. In connection with the license agreement, the
     Company has received advances of $750 and $500 and will record the advance
     as revenue as earned under the agreement. At March 31, 2006 the
     accompanying financial statements reflect license fees of $270 and deferred
     revenue of $917 related to this agreement.

     On February 14, 2005, the Company entered into a license agreement with
     VIDISCO. The license agreement grants VIDISCO exclusive rights to the
     single release by "3rd Wish" entitled "Obsession" in Portugal. The Company
     shall receive royalties of 18% calculated on 100% net sales.




                                      F-17
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


12.  License Agreements, continued

     On September 6, 2005, the Company entered into a five and one-half year
     license agreement with Planet Records Italy (Planet). The license agreement
     grants Planet the exclusive rights for an Album (TBA Title) by "3rd Wish"
     in Italy. Under the license agreement the Company is to receive a royalty
     rate of 20% of net sales. The Company granted Planet a digital download
     distribution license agreement that will include all digital and wireless
     platforms on a non-exclusive basis in Italy only and will be split on a
     60/40 basis. In connection with the license agreement the Company received
     an advance of $7,127 that was initially recorded as deferred revenue and
     will be recognized as revenues as license fees are earned under the
     agreement. At March 31, 2006, the accompanying financial statements reflect
     license fees of $734 and deferred revenue of $6,393 related to this
     agreement.

13.  Music Video Production Agreements

     During the year ended March 31, 2005, the Company entered into Music Video
     Production Agreements with 1171 Production Group (Production Company).
     Production Company produced music videos embodying performances by "3rd
     Wish" and "Pat Moe'. As of March 31, 2005 all contractual obligations have
     been completed and the Company recorded total video production expenses of
     $406,525 related to these agreements.

14.  Content License Agreement

     On September 10, 2004, the Company entered into a Content License Agreement
     with JAMBA!AG (JAMBA) for the distribution of mobile content including ring
     tones, wallpaper, and logos through the JAMBA service and JAMBA Network.
     The Content License Agreement is non-exclusive and covers the territories
     of Germany, Switzerland, and Austria. The term of the agreement commences
     on the date of the agreement and terminates upon a three month written
     notice by either party. In consideration of the authorizations granted to
     JAMBA in the agreement, JAMBA will pay the Company a license fee from all
     paid and successfully completed downloads of content by end users as set
     forth in the agreement, which shall be calculated from the net revenue
     (revenue less value added tax.) In accordance with SAB 104, the Company
     records revenue related to the Content License Agreement when the license
     revenue is fixed or determinable and collectibility is reasonably assured.
     The Company recorded revenue of $829 related to this agreement in the year
     ended March 31, 2006.

15.  Video Ringtone And Promotion Video License Agreement

     On March 9, 2005, the Company entered into a Framework Master and Video
     Ringtone and Promotion Video License Agreement ( Framework Agreement) with
     Jamster International Sarl (Jamster) whereas Jamster desires to distribute
     Master Ringtones and Video Ringtones of certain of the Company's tracks to
     include excerpts of certain of the Company's promotion video clips into
     such television advertising campaigns. The video description, license
     period, territory, exclusivity and any other rights granted to Jamster
     shall be described in each case by signature of an individual written order
     form. The term of the Framework Agreement shall remain effective unless
     terminated by either of the parties. In consideration of the rights granted
     in the order form(s), Jamster shall pay the Company for each fully paid and
     completed download of the Ringtone in its monophonic, polyphonic Master and
     Video Ringtone version a lump sum of $0.40 for Master Ringtones/Video
     Ringtones and $0.15 for tones which trigger a new subscription between end
     user consumer and distributor as compensation for the use of the video. The
     Company has not recorded any revenue related to this agreement. In
     accordance with SAB 104, the Company will record revenue related to the
     Framework when the license revenue is fixed or determinable and
     collectibility is reasonably assured.

                                      F-18
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


16.  Publishing Agreement

     On January 17, 2002, the Company entered into a publishing agreement with
     Broadcast Music, Inc. (BMI) for the period from July 1, 2001 to June 30,
     2006. In accordance with the agreement, the Company sold, assigned and
     transferred to BMI, its successors or assigns all rights which the Company
     owned or acquired publicly to perform, and to license others to perform,
     anywhere in the world and part or all musical compositions; the
     non-exclusive right to record, and to license others to record, any part or
     all of any of the musical compositions on electrical transcriptions, wire,
     tape, film or otherwise, but only for the purpose of performing such
     musical compositions publicly by means of radio and television or for
     archive or audition purposes; and the exclusive right to adapt or arrange
     any part or all of any of the musical compositions for performance
     purposes, and to license others to do so. As consideration for all rights
     granted to BMI hereunder, BMI agrees to pay the Company upon the basis of
     current performance rates generally paid by BMI for its affiliated
     publishers for similar performances. The Company has not recorded any
     revenue related to the agreement. In accordance with SAB No. 104 the
     Company will record publishing revenues when the revenue is fixed or
     determinable and collection is reasonably assured.

17.  Commitments

     Exclusive Artist Recording Agreements

     At March 31, 2006, the Company had entered into long-term Exclusive Artist
     Recording Agreements with six artists, which include the three Artists of
     "3rd Wish", the Artist "PatMoe", the Artist "Precious Dawn Francis" and the
     Artist "Willie Bivins, Jr" also known as "Willie Will" for the purpose of
     engaging the exclusive personal services of the Artists for making master
     sound recordings for distribution in any medium. The territory for the
     agreements is worldwide. All master recordings made by the Artists during
     the terms of the agreements are recorded by the Artists on the Company's
     behalf, and all phonograph records and related performances are the
     property of the Company; the Company has the right to secure sound
     recording copyright; and the Company and its licensees have the sole and
     exclusive right to use the recordings throughout the world or any part
     thereof in any manner it sees fit. The Company may pay all specifically
     approved recording costs in connection with the master recordings made
     hereunder, and all recording costs are deemed fully recoupable advances to
     the Artists and are to be deducted from any and all royalties payable to
     the Artist by the Company under this or any and all royalties payable to
     the Artists by the Company. Amounts paid to or on behalf of the Artists
     during the term of the agreement are fully recoverable, non-returnable
     advances unless otherwise expressly agreed in writing between the Company
     and the Artists. The Company has the right, but not the obligation to have
     the Artists participate in the creation of music videos and all amounts
     expended by or advanced by the Company for the production of music videos
     constitute additional fully recoupable advances. The Company owns any and
     all current and future rights to music videos.

     In its sole discretion, the Company may choose, at any time during the term
     of the agreements, to license master recordings made by the Artists to
     third parties on a flat fee or royalty basis, or to enter into a
     distribution agreement with a third party distributor for the distribution
     of phonograph records embodying master recordings recorded by the Artists
     through normal retail channels in the United States and worldwide. With
     respect to master recordings of the Artists licensed to third parties on a
     flat-fee basis, the Company is to pay the Artists 20-50% of the net amount
     received by the Company under such license. With respect to master
     recordings of the Artists licensed to third parties on a royalty basis, and
     with respect to phonograph recordings released through a distributor
     selected by the Company, the Company is to pay the Artists the lesser of
     20-50% of the Company's net earned royalty receipts under such license or
     distribution agreement, or 20-50% of the basic album or single rate as
     defined in the agreements. Further, in its sole discretion, the Company may
     choose to commercially release phonograph records through the Company's own
     distribution network. In such event, the Company agrees to pay the Artists
     royalties based on the basic album or singe rate as defined in the
     agreements. For phonograph recordings that are exported or sold outside the
     United States and through record clubs or similar plans, the Artists is to
     be paid a royalty of 20-50% of the amounts provided of the above mentioned
     amounts. In addition, the Artists may earn royalties related to licenses
     for musical compositions, music video licenses and merchandising.




                                      F-19
<PAGE>

                        SKREEM ENTERTAINMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


17.  Commitments, continued

     Exclusive Artist Recording Agreements, continued

     At March 31, 2006, the Artists had earned royalties of approximately
     $45,000, based on cumulative reported licensing revenues. However, the
     Company is not obligated to pay any royalties until it recovers advances to
     Artists totaling $1,468,424 at March 31, 2006, plus any future advances.

     Music Publishing Agreements

     At March 31, 2005, the Company had entered into long-term Music Publishing
     Agreements with five individual Writers, which include the three Artists of
     "3rd Wish", the Artist "PatMoe" and the Artist "Willie Will". The Company
     engaged the Writers to render the Writer's exclusive services as
     songwriters and composers based upon terms and conditions set forth in the
     agreements. In accordance with the agreements, the Writers granted all
     rights to all musical compositions written or owned by the Writers and all
     musical compositions are to be the Company's exclusive property as sole
     owner. The Company shall pay royalties to the Writers based on various
     terms and conditions set forth in the agreements. There have been no
     royalties earned by the writers related to the agreements.

     Personal Management Agreement

     At March 31, 2005, the Company had entered into long-term Personal
     Management Agreements with five Artists, which include the three Artists of
     "3rd Wish", the Artist "PatMoe", and the Artist "Willie Will". The Company
     accepts the engagement as the Artists' sole and exclusive personal
     management company in connection with all activities in the entertainment
     industries throughout the world, including but not limited to their
     services as musicians, songwriters, actors, publishers, packagers or
     performers in any medium now known or hereafter devised. For personal
     management services performed, the Artists agreed to pay the Company 15% of
     all gross compensation earned or received as a result of activities in the
     entertainment industry. However, the Company is not be entitled to
     commissions by the Artists from the sale, license, or grant of any literary
     or music rights to the Company or any person, firm, or corporation owned or
     controlled by the Company. During the years ended March 31, 2006 and 2005,
     the Company earned commissions of $981 and $3,241, all related to live
     performances.

18.  Supplemental Disclosures Of Cash Flow Information

     During the year ended March 31, 2006, and the year ended December 31, 2005
     approximately $35,780 and $15,000 was paid for interest expense,
     respectively. No cash was paid for income taxes during the years ended
     March 31, 2006 and 2005.

     During the year ended March 31, 2006, the Company issued 50,000 shares of
     common stock for accounts payable. In addition, the Company converted notes
     payable totaling $1,000,000 to equity upon issuance of 1,000,000 shares of
     common stock.


19.  Concentrations Of Risk And Major Customers

     The Company is economically dependent on an affiliate owned by the
     Company's major shareholder.

     The Company is dependent on the success of the Artists. The talent would be
     difficult to replace.

     The license revenues of $115,227 for the year ended March 31, 2005 related
     to the Cheyenne agreement and accounted for approximately 95% of total
     revenues.

     The license revenues of $33,830 and $25,271 for the year ended March 31,
     2006 related to the NRJ and Cheyenne agreements and accounted for 52% and
     39% of the total revenues respectively.



                                      F-20
<PAGE>

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

The Company has had no disagreements with its certified public accountants with
respect to accounting practices or procedures or financial disclosure. The
Company did however change its certifying accountants from David T. Thomson P.C.
to Thomas Leger & Co. LLP in March of 2004, and from Thomas Leger & Co. LLP, to
Ham, Langston & Brezina LLP in January of 2005.

(i)   On March 3, 2004, the Registrant dismissed David T. Thomson, PC from its
      position as the Company's independent accountants.

(ii)  The audit report of David T. Thomson, PC, on April 10, 2003, for the year
      ended March 31, 2002 contained no adverse opinion, disclaimer of opinion
      or modification of the opinion.

(iii) The Registrant's Board of Directors participated in and approved the
      decision to change independent accountants.

(iv)  In connection with its audit for the most recent fiscal year and the
      interim period until the date of dismissal, there have been no
      disagreements with David T. Thomson, PC on any matter of accounting
      principle or practice, financial statement disclosure, or auditing scope
      or procedure, which disagreement if not resolved to the satisfaction of
      David T. Thomson, PC would have caused them to make reference thereto in
      their report on the financial statements.

(v)   During the most recent fiscal year and the interim period until the date
      of dismissal, there have been no reportable events (as defined in
      Regulation S-K Item 304 (a)(1)(v)).

(vi)  The Registrant requested that David T. Thomson, PC furnish it with a
      letter addressed to the SEC stating whether or not it agrees with the
      above statements.

(vii) On January 7, 2005, the Registrant dismissed Thomas Leger & Co., LLP from
      its position as the Company's independent accountants.

(viii) The audit report of Thomas Leger & Co., LLP, on July 21, 2004, for the
      balance sheet as of March 31, 2004, and the related consolidated
      statements of operations, shareholders' deficit and cash flows for the
      three months ended March 31, 2004 and the years ended December 31, 2003
      and 2002 and for the period from August 19, 1999 (date of inception)
      through March 31, 2004 contained no adverse opinion, disclaimer of opinion
      or modification of the opinion other than the substantial doubt about the
      Company's ability to continue as a going concern.

(ix)  The Registrant's Board of Directors participated in and approved the
      decision to change independent accountants.

(x)   In connection with its audit for the most recent fiscal year and the
      interim period until the date of dismissal, there have been no
      disagreements with Thomas Leger & Co., LLP on any matter of accounting
      principle or practice, financial statement disclosure, or auditing scope
      or procedure, which disagreement if not resolved to the satisfaction of
      Thomas Leger & Co., LLP would have caused them to make reference thereto
      in their report on the financial statements.

(xi)  During the most recent fiscal year and the interim period until the date
      of dismissal, there have been no reportable events (as defined in
      Regulation S-K Item 304 (a)(1)(v)).

(xii) The Registrant requested that Thomas Leger & Co., LLP furnish it with a
      letter addressed to the SEC stating whether or not it agrees with the
      above statements




                                       10
<PAGE>

(xiii) New independent accountants

      On January 7, 2005, the Registrant engaged Ham, Langston, & Brezina LLP to
      audit its financial statements for the year ended March 31, 2005. During
      the two most recent fiscal years and through March 31, 2005, the
      Registrant has not consulted with Ham, Langston, & Brezina LLP regarding
      (i) the application of accounting principles to a specified transaction,
      either completed or proposed or the type of audit opinion that might be
      rendered on the Registrant's financial statements, and no written report
      or oral advise was provided to the Registrant by concluding there was an
      important factor to be considered by the Registrant in reaching a decision
      as to an accounting, auditing or financial reporting issue; or (ii) any
      matter that was either the subject of a disagreement, as that term is
      defined in item 304 (a)(1)(iv) of Regulation S-K and the related
      instructions to Item 304 of Regulation S-K, or a reportable event, as that
      term is defined in Item 304 (a)(1)(v) of Regulation S-K.

ITEM 8A.        CONTROLS AND PROCEDURES

(a)   Evaluation of disclosure controls and procedures. Our chief executive
      officer and our chief financial officer, after evaluating the
      effectiveness of the Company's "disclosure controls and procedures" (as
      defined in the Securities Exchange Act of 1934 Rule 13a-14(c) and
      15-d-14(c) as of a date (the "Evaluation Date") within 90 days before the
      filling date of this quarterly report, have concluded that as of the
      Evaluation Date, our disclosure controls and procedures were adequate and
      designed to ensure that material information relating to us and our
      consolidated subsidiaries would be made known to them by others within
      those entities.

(c)   Changes in internal controls. There were no significant changes in our
      internal controls or to our knowledge, in other factors that could
      significantly affect our disclosure controls and procedures subsequent to
      the Evaluation Date.

ITEM 8B.        OTHER INFORMATION

None





                                       11
<PAGE>

                                    PART III

ITEM 9.         DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Information Regarding Present Directors and Executive Officers

The following table sets forth as of June 27, 2006, the name, age, and position
of each executive officer and director and the term of office of each director
of the Company.

     Name           Age             Title              Director or Officer Since

Charles Camorata    51   President, Chief Executive    01-31-04
                         Officer and Director
Tony Harrison       42   Vice President and Director   01-31-04
Karen Pollino       54   Secretary / Treasurer         01-31-04
                         and Director

The following is the business background of each officer and director:

Charles Camorata. Mr. Camorata was a founder of and has been employed by Skreem
Entertainment Corporation since August 1999 and was appointed Chief Executive
Officer and director of the Company on January 31, 2004. From 1980-1999 he was
the owner and president of Camorata Productions, Inc. an entity which composed,
arranged and produced music as well as designed audio and visual systems for
theme parks and recording studios. He has composed and published 35 musical
arrangements.

Tony Harrison.  Mr. Harrison joined Skreem  Entertainment  Corporation in August
2003 and was appointed Vice President and director of the Company on January 31,
2004. Since 1996 he has operated a recording studio just outside Cologne Germany
and produces records in Europe under the "Captain Hollywood" label.

Karen Pollino.  Ms. Pollino  joined Skreem  Entertainment  Corporation in August
1999 and was appointed  Secretary/Treasurer  and director of the Company January
31, 2004.  From 1997 to 1999,  Ms.  Pollino was employed by Martin  Consultants,
Inc. as Secretary/Treasurer. From 1990 to 1997 she was employed by Sorex Medical
of Salt Lake City  where she had  oversight  responsibility  of  purchasing  and
customer service.

Except as indicated below, to the knowledge of management, during the past five
years, no present or former director, or executive officer of the 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 property of such person, or any partnership in
     which he was a general partner at or within two years before the time of
     such filing, or any corporation or business association of which he was an
     executive officer at or 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
     defenses);

(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 future 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 affiliate person, director or employee 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; or

     (iii) engaging in any activity in connection with the purchased or sale of
         any security or commodity or in connection with any violation of
         federal or state securities laws or federal commodities laws;




                                       12
<PAGE>

(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 other wise 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 such civil action or finding by the
     Securities and Exchange Commission has not been subsequently reversed,
     suspended, or vacated.

(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.

ITEM 10.        EXECUTIVE COMPENSATION

The following tables set forth certain summary information concerning the
compensation paid or accrued for each of the Company's last three completed
fiscal years to the Company's or its principal subsidiaries chief executive
officer and each of its other executive officers that received compensation in
excess of $100,000 during such period (as determined at March 31, 2006, the end
of the Company's last completed fiscal year):

Name                               Year             Compensation

Charles Camorata                   2006             $ 50,000
Charles Camorata                   2005             $ 50,000
Kevin Monson *                     2004             None
Kevin Monson                       2003             None

*  Resigned on January 31, 2004

Cash Compensation

There was no cash compensation, other than the $50,000 compensation to Charles
Camorata paid to any director or executive officer of the Company during the
fiscal years ended March 31, 2006, and 2005.

Bonuses and Deferred Compensation

None.

Compensation Pursuant to Plans.


None.

Pension Table

None.

Other Compensation

None.

Compensation of Directors.

None.

Termination of Employment and Change of Control Arrangement

There are no compensatory plans or arrangements, including payments to be
received from the Company, with respect to any person named in Cash Compensation
set out above which in any way result in payments to any such person because of
his resignation, retirement, or other termination of such person's employment
with the Company or its subsidiaries, or any change in control of the Company,
or change in the person's responsibilities following a changing in control of
the Company.

                                       13
<PAGE>

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth, as of June 19, 2006 the name and the number of
shares of the Company's Common Stock, par value $.001 per share, held of record
or beneficially by each person who held of record, or was known by the Company
to own beneficially , more than 5% of the 24,508,950 issued and outstanding
shares of the Company's Common Stock, and the name and shareholdings of each
director and of all officers and directors as a group.
<TABLE>

Title of          Name of                            Amount and Nature             Percentage
Class             Beneficial Owner                   of Beneficial Ownership (1)   of Class
--------          ----------------                   ---------------------------   -----------
<S>               <C>                                <C>                           <C>

OFFICERS, DIRECTORS AND FIVE PERCENT SHAREHOLDERS

Common            Charles Camorata                   200,000                       0.8%

Common            Tony Harrison                      200,000                       0.8%

Common            Karen Pollino                      109,500                       0.5%

Common            Jeffrey Martin (1)                 22,650,156                    92.4%


                  All officers and
                  Directors as a Group
                  (3) persons                        509,500                       2.2%
</TABLE>


(1) Includes shares owned by Martin Consultants, Inc. and Am-Pac Investments.

ITEM 12.        CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The  Company's  Board  of  Directors  held a  meeting  on  August  30,  2003 and
unanimously  approved a proposal received from Martin  Consultants,  Inc. and JT
Investments,  Ltd.,  affiliates of the Company,  to convert the debt and accrued
interest  owed  by the  Company  to  equity.  Martin  Consultants,  Inc.  and JT
Investments, Ltd. are 100% and 50%, respectively owned by Jeffrey D. Martin. The
notes  payable of  $1,373,600  and related  accrued  interest  of $208,383  were
reclassified  to equity on August 31,  2003 and  Martin  Consultants,  Inc.  was
issued 43,000 shares (pre-merger) of common stock.

Notes payable to shareholders and affiliates consist of the following at March
31, 2006:
<TABLE>
<S>                                                                            <C>

Notes payable upon demand to Jeffrey Martin secured by the assets of the
   Company, interest at 8% per annum                                              $    556,770

Notes payable upon demand to Martin Consultants, Inc., secured by the assets
   of the Company, interest at 8% per annum                                            879,028

Note payable upon demand to JT Investments, Ltd., unsecured, interest at 8%
   per annum                                                                            39,592

Note payable upon demand to AM Pac Investment, unsecured, interest at 8%
   per annum                                                                            15,000
                                                                                  ------------

                                                                                  $  1,490,390
</TABLE>


Accounts payable due to an affiliate consisted of $9,254 for health insurance as
of March 31, 2006.

The Company promotes an artist who is the son of the Company's major
shareholder. Total advances to the son are approximately $469,400 as of March
31, 2006.


                                       14
<PAGE>

On March 1, 2003, the Company entered into an agreement with All Star Consulting
to establish a fee of $5,000 per month plus rent of an apartment and lease of a
car for services rendered as a Manager of Artists in Germany. Effective January
1, 2005,the Company amended the agreement to increase the fee paid to All Star
Consulting to $6,500 per month. All Star consulting is owned by Tony Harrison,
who is a Vice President and Director of the Company. In connection with the
agreement, the Company expensed promotion fees of approximately $78,000 and
$64,500 for the year ended March 31, 2006, and the year ended March 31, 2005,
respectively.


TRANSACTIONS WITH PROMOTERS

There have been no transactions between the Company and promoters during the
last fiscal year.

ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K

23.1     Consent of Independent Registered Public Accounting Firm.
23.2     Consent of Independent Registered Public Accounting Firm.
31.1     Certification of the Chief Executive  Officer pursuant to Section 302
         of the Sarbanes-Oxley Act of 2002.
31.2     Certification of the Chief Financial  Officer pursuant to Section 302
         of the Sarbanes-Oxley Act of 2002.
32.1     Certification of the Principal  Executive  Officer pursuant to Section
         906 of the Sarbanes-Oxley Act of 2002.
32.2     Certification of the Principal  Financial  Officer pursuant to Section
         906 of the  Sarbanes-Oxley Act of 2002.

ITEM 14.        PRINCIPAL ACCOUNTANTS FEES AND SERVICES

                                        2006              2005

Audit Fees                        $    10,000       $    29,511
Audit and Related Fees                 10,500                 -
Tax Fees                                    -                 -
All Other Fees                              -                 -
                                  -----------       -----------

Total                             $    20,500       $    29,511
                                  ===========       ===========

(1)  Audit fees consist of fees billed for the audit of the Company's
     consolidated financial statements and review of the interim consolidated
     financial statements.



                                       15
<PAGE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
this report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated:

                                  SKREEM ENTERTAINMENT CORPORATION



Date: June 27, 2006              By /s/ Charles Camorata
                                    Charles Camorata,
                                    Principal Executive Officer

Date: June 27, 2006              By /s/ Karen Pollino
                                    Karen Pollino,
                                    Chief Financial Officer

In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.


       Name                    Title                         Date


/s/ Charles Camorata
 Charles Camorata     Principal Executive Officer         June 27, 2006

/s/ Karen Pollino
 Karen Pollino        Chief Financial Officer             June 27, 2006

/s/ Tony Harrison
 Tony Harrison        Vice President & Director            June 27, 2006




                                       16
<PAGE>

                                                                   Exhibit 31.1

                                 CERTIFICATIONS

I, Charles Camorata, certify that:
1. I have reviewed this annual report on 10-KSB of Skreem Entertainment
   Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a
   material fact or omit to state a material fact necessary to make the
   statements made, in light of the circumstances under which such statements
   were made, not misleading with respect to the period covered by this report;

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

4. The registrant's other certifying officer and I are responsible for
   establishing and maintaining disclosure controls and procedures (as defined
   in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over
   financial reporting (as defined in Exchange Act Rules 13a-15(f) and
   15d-15(f)) for the registrant and have:

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

   b) Designed such internal control over financial reporting, or caused such
     internal control over financial reporting to be designed under our
     supervision, to provide reasonable assurance regarding the reliability of
     financial reporting and the preparation of financial statements for
     external purposes in accordance with generally accepted accounting
     principles;

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

   d) Disclosed in this report any change in the registrant's internal control
     over financial reporting that occurred during the registrant's most recent
     fiscal quarter (the registrant's fourth fiscal quarter in the case of an
     annual report) that has materially affected, or is reasonably likely to
     materially affect, the registrant's internal control over financial
     reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our
   most recent evaluation of internal control over financial reporting, to the
   registrant's auditors and the audit committee of registrant's Board of
   Directors (or persons performing the equivalent functions):

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

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

June 27, 2006


By: /s/ Charles Camorata
------------------------
Charles Camorata
Principal Executive Officer



                                       17
<PAGE>

                                                                    Exhibit 31.2

CERTIFICATIONS

I, Karen Pollino, certify that:
1. I have reviewed this annual report on 10-KSB of Skreem Entertainment
   Corporation;
2. Based on my knowledge, this report does not contain any untrue statement of a
   material fact or omit to state a material fact necessary to make the
   statements made, in light of the circumstances under which such statements
   were made, not misleading with respect to the period covered by this report;

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

4. The registrant's other certifying officer and I are responsible for
   establishing and maintaining disclosure controls and procedures (as defined
   in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over
   financial reporting (as defined in Exchange Act Rules 13a-15(f) and
   15d-15(f)) for the registrant and have:

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

   b) Designed such internal control over financial reporting, or caused such
     internal control over financial reporting to be designed under our
     supervision, to provide reasonable assurance regarding the reliability of
     financial reporting and the preparation of financial statements for
     external purposes in accordance with generally accepted accounting
     principles;

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

   d) Disclosed in this report any change in the registrant's internal control
     over financial reporting that occurred during the registrant's most recent
     fiscal quarter (the registrant's fourth fiscal quarter in the case of an
     annual report) that has materially affected, or is reasonably likely to
     materially affect, the registrant's internal control over financial
     reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our
   most recent evaluation of internal control over financial reporting, to the
   registrant's auditors and the audit committee of registrant's Board of
   Directors (or persons performing the equivalent functions):

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

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

June 27, 2006


By: /s/ Karen Pollino
-----------------------
Karen Pollino
Chief Financial Officer




                                       18
<PAGE>

                                                                 Exhibit 32.1

     CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 OF THE
                     SARBANES-OXLEY ACT OF 2002 (18 U.S.C.
                                  SECTION 1350)

In connection with the Annual Report of Skreem Entertainment Corporation; on
Form 10-KSB for the fiscal year ended March 31, 2005, as filed with the
Securities and Exchange Commission (the "Report"), Charles Camorata, Principal
Executive Officer of the Company, does hereby certify, pursuant to ss. 906 of
the Sarbanes-Oxley Act of 2002 (18 U.S.C. ss. 1350), that to his knowledge:

       (1) The Report fully complies with the requirements of section 13(a) or
           15(d) of the Securities Exchange Act of 1934; and

       (2) The information contained in the Report fairly presents, in all
           material respects, the financial condition and result of operations
           of the Company.

By: /s/ Charles Camorata
----------------------------

Name: Charles Camorata
Principal Executive Officer
June 27, 2006



                                       19
<PAGE>

                                                               Exhibit 32.2

     CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 OF THE
                     SARBANES-OXLEY ACT OF 2002 (18 U.S.C.
                                  SECTION 1350)

In connection with the Annual Report of Skreem Entertainment Corporation; on
Form 10-KSB for the fiscal year ended March 31, 2005, as filed with the
Securities and Exchange Commission (the "Report"), Karen Polino, Principal
Financial Officer of the Company, does hereby certify, pursuant to ss. 906 of
the Sarbanes-Oxley Act of 2002 (18 U.S.C. ss. 1350), that to her knowledge:

       (1) The Report fully complies with the requirements of section 13(a) or
           15(d) of the Securities Exchange Act of 1934; and

       (2) The information contained in the Report fairly presents, in all
           material respects, the financial condition and result of operations
           of the Company.

By: /s/ Karen Pollino
------------------------------
Name: Karen Pollino
Principal Financial Officer
June 27, 2006




                                       20