UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


[X]  Quarterly report filed under Section 13 or 15(d) of the Securities Exchange
     Act of 1934

                  For the Quarterly Period Ended March 31, 2006

or

[ ]  Transitional report filed under Section 13 or 15(d) of the Exchange Act.

                           Commission File No. 0-32721



       GLOBAL MEDIA GROUP HOLDINGS, INC. (formerly Matrix Concepts, Inc.)
--------------------------------------------------------------------------------
                 (Name of Small Business Issuer in its Charter)

             Nevada                                    88-0492265
--------------------------------------------------------------------------------
(State or other jurisdiction of          (I.R.S. Employer Identification Number)
 incorporation or organization)


           649 San Ramon Valley Boulevard, Danville, California 94526
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (925) 743-8880

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

Securities registered pursuant to Section 12(g) of the Act:
Common Stock $.001 Par Value

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) been subject to such filing requirements
for the past 90 days. Yes [X] No [ ].

As of May 15, 2006, the Registrant had 11,545,000 shares of common stock issued
and outstanding.

Transitional Small Business Disclosure Format (check one):  Yes [ ]  No [X]

<PAGE>

                     Quarterly Report on Form 10-QSB for the
                     Quarterly Period Ending March 31, 2006

                                Table of Contents

                                                                            Page
                                                                            ----
PART I.  FINANCIAL INFORMATION

     Item 1.  Financial Statements (Unaudited)

          Condensed Consolidated Balance Sheet:
          March 31, 2006 (unaudited).........................................  5

          Condensed Consolidated Statements of Income (unaudited):
          Three Months Ended March 31, 2006 and 2005.........................  6

          Condensed Consolidated Statement of Changes in Stockholders'
          Equity (unaudited): Three Months Ended March 31, 2006..............  7

          Condensed Consolidated Statements of Cash Flows (unaudited):
          Three Months Ended March 31, 2006 and 2005.........................  8

          Notes to Condensed Consolidated Financial Statements
          (unaudited): March 31, 2006........................................  9

     Item 2.  Management Discussion and Analysis............................. 12

     Item 3. Controls and Procedures......................................... 16

PART II. OTHER INFORMATION

     Item 1.  Legal Proceedings.............................................. 16

     Item 2.  Changes in Securities.......................................... 16

     Item 3.  Defaults Upon Senior Securities................................ 16

     Item 4.  Submission of Matters to a Vote of Security Holders............ 16

     Item 5.  Other Information.............................................. 17

     Item 6.  Exhibits....................................................... 17



                                       2
<PAGE>


ITEM 1.  FINANCIAL STATEMENTS

The following unaudited Condensed Consolidated Financial Statements for the
three months ended March 31, 2006 and 2005 have been prepared by Global Media
Group Holdings, Inc., a Delaware corporation (formerly Matrix Concepts, Inc.)








                        GLOBAL MEDIA GROUP HOLDINGS, INC.
                              FINANCIAL STATEMENTS
                       FOR THE PERIOD FROM JANUARY 1, 2006
                             THROUGH MARCH 31, 2006






                                       3
<PAGE>


                                TABLE OF CONTENTS




Balance Sheet..................................................................5


Statement of Operations........................................................6


Statement of Changes in Stockholders' Equity...................................7


Statement of Cash Flows........................................................8


Notes to Financial Statements..................................................9







                                       4
<PAGE>
<TABLE>
<CAPTION>

                        GLOBAL MEDIA GROUP HOLDINGS, INC.
                        (formerly Matrix Concepts, Inc.)
                          (A Development Stage Company)
                                  BALANCE SHEET
                                   (unaudited)

                                                                   March 31,     December 31,
                                                                     2006            2005
                                                                 ------------    ------------
<S>                                                              <C>             <C>
Current assets:

Cash                                                             $       --      $       --
                          Total current assets                           --              --

Total assets                                                     $       --      $       --
                                                                 ------------    ------------


Current liabilities

Accounts payable                                                 $       --      $     13,009

Other liability                                                          --             1,000

Franchise tax payable                                                     800            --
                                                                 ------------    ------------
                     Total current liabilities                            800          14,009


Stockholders' equity:

Series A preferred stock, $.001 par value, 50,000,000                   2,200            --
shares authorized; 110,000 and 0 shares issued and outstanding
as of March 31, 2006 and December 31, 2005 respectively

Common stock, $.001 par value; 100,000,000 shares                         190             190
authorized; 1,895,000 shares issued and outstanding
as of March 31, 2006 and December 31, 2005 respectively

Additional paid-in capital                                             19,652           5,643

Deficit accumulated during development stage                          (22,842)        (19,842)
                                                                 ------------    ------------


                     Total stockholders' equity                          (800)        (14,009)
                                                                 ------------    ------------

Total liabilities and stockholder's equity                       $       --      $       --
                                                                 ------------    ------------
</TABLE>


    The accompanying notes are an integral part of these financial statements

                                       5
<PAGE>
<TABLE>
<CAPTION>

                        GLOBAL MEDIA GROUP HOLDINGS, INC.
                        (formerly Matrix Concepts, Inc.)
                          (A Development Stage Company)
                             STATEMENT OF OPERATIONS
                                   (unaudited

                                                                             Cumulative
                                                                            amount from
                                                                             Inception
                                         For the three    For the three      (April 28,
                                          months ended     months ended         2000
                                            March 31,        March 31,        March 31,
                                              2006             2005             2006)
                                         -------------    -------------    -------------
<S>                                      <C>              <C>              <C>

Revenue                                  $        --      $        --      $        --

Expenses:


General and administrative expenses              2,200            1,269           22,042


               Total expenses                    2,200            1,269           22,042
                                         -------------    -------------    -------------


Loss before provision for income taxes          (2,200)          (1,269)         (22,042)
Provision for income taxes                        (800)            --               (800)
                                         -------------    -------------    -------------
               Net loss                  $      (3,000)   $      (1,269)   $     (22,842)
                                         =============    =============    =============


Weighted average shares outstanding,
  Basic and diluted                          1,895,000        1,895,000
                                         =============    =============

               Net loss per share,
                 Basic and diluted       $        0.00    $        0.00
                                         =============    =============

</TABLE>



    The accompanying notes are an integral part of these financial statements

                                       6
<PAGE>
<TABLE>
<CAPTION>


                        GLOBAL MEDIA GROUP HOLDINGS, INC.
                        (formerly Matrix Concepts, Inc.)
                          (A Development Stage Company)
                  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                                   (unaudited)



                                                                                                      Deficit
                                                                                                    Accumulated       Total
                                             Common Stock          Preferred Stock      Additional  During the     Stockholders
                                        ---------------------   ---------------------    Paid-in    development       equity
                                          Shares      Amount      Shares      Amount     capital       stage        (deficit)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
<S>                                     <C>         <C>         <C>         <C>         <C>         <C>            <C>

Balance at inception - April 28, 2000        --     $    --          --     $    --     $    --     $      --      $      --

Issuance of common stock to founders
  for cash                              1,200,000         120        --          --         1,380          --            1,500

Issuance of common stock to founders
  for services                            605,000          60        --          --           544          --              604

Issuance of common stock in private
  placement for cash held by attorney
  in trust account                         85,000           9        --          --         2,542          --            2,551

Net loss for the period from
  inception (April 28, 2000) through
  December 31, 2000                          --          --          --          --          --          (2,780)        (2,780)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
Balance at December 31, 2000            1,890,000         189        --          --         4,466        (2,780)         1,875

Issuance of common stock in private
  placement for cash held by attorney
  in trust account                          5,000           1        --          --           149          --              150

Net loss                                     --          --          --          --          --          (6,479)        (6,479)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
Balance at December 31, 2001            1,895,000         190        --          --         4,615        (9,259)        (4,454)

Net loss                                     --          --          --          --          --          (8,499)        (8,499)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
Balance at December 31, 2002            1,895,000         190        --          --         4,615       (17,758)       (12,953)

Contributed capital                          --          --          --          --         1,028          --            1,028

Net income                                   --          --          --          --          --            --             --
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
Balance at December 31, 2003            1,895,000         190        --          --         5,643       (17,758)       (11,925)

Net loss                                     --          --          --          --          --            (815)          (815)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
Balance at December 31, 2004            1,895,000         190        --          --         5,643       (18,573)       (12,740)

Net loss                                     --          --          --          --          --          (1,269)        (1,269)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------

Balance at December 31, 2005            1,895,000         190        --          --         5,643       (19,842)       (14,009)

Contributed paid in capital                  --          --          --          --        14,009          --           14,009

Issuance of preferred stock                  --          --       110,000       2,200        --            --            2,200

Net loss for the three
months ended March 31, 2006                  --          --          --          --          --          (3,000)        (3,000)
                                        ---------   ---------   ---------   ---------   ---------   -----------    -----------
Balance as of March 31, 2006            1,895,000   $     190     110,000   $   2,200   $  19,652   $   (22,842)   $      (800)
                                        =========   =========   =========   =========   =========   ===========    ===========
</TABLE>

    The accompanying notes are an integral part of these financial statements

                                       7
<PAGE>
<TABLE>
<CAPTION>


                        GLOBAL MEDIA GROUP HOLDINGS, INC.
                        (formerly Matrix Concepts, Inc.)
                          (A Development Stage Company)
                             STATEMENT OF CASH FLOWS
                                   (unaudited)
                                                                                    Cumulative
                                                                                    amount from
                                                                                     Inception
                                                 For the three    For the three      (April 28,
                                                  months ended     months ended         2000
                                                    March 31,        March 31,        March 31,
Operating Activities:                                 2006             2005             2006)
                                                 -------------    -------------    -------------
<S>                                              <C>              <C>              <C>
Cash flows from operating activities:
     Net loss                                    $      (3,000)   $      (1,269)   $     (22,842)
     adjustments to reconcile to cash
     Provided by operating activities:
     Changes in:

                Accounts payable                       (13,009)           1,269             --

                Accrued expenses                          --               --                604

                Other liabilities                       (1,000)            --               --

                Franchise taxes payable                    800             --                800
                                                 -------------    -------------    -------------

     Cash used for operating activities                (16,209)            --            (21,438)
                                                 -------------    -------------    -------------

Financing Activities

     Contributed paid in capital                        14,009             --             15,037

     Proceeds from issuance of preferred stock           2,200             --              2,200

     Common stock issued for cash                         --               --              4,201
                                                 -------------    -------------    -------------
     Cash provided by financing activities              16,209             --             21,438
                                                 -------------    -------------    -------------

     Net increase in cash                                 --               --               --
                                                 -------------    -------------    -------------

     Cash, beginning of period                            --               --               --
                                                 -------------    -------------    -------------

     Cash, end of period                         $        --      $        --      $        --
                                                 =============    =============    =============
</TABLE>

    The accompanying notes are an integral part of these financial statements

                                       8
<PAGE>

                        GLOBAL MEDIA GROUP HOLDINGS, INC.
                        (formerly Matrix Concepts, Inc.)
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                         FOR THE PERIOD JANUARY 1, 2006
                             THROUGH MARCH 31, 2006



1.       BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
         --------------------------------------------

         Business
         --------

         Matrix Concepts, Inc. (a Development-Stage Company) (the "Company") was
         incorporated on April 28, 2000 under the laws of the State of Nevada.
         On March 3, 2006 the stockholders agreed to change its corporate
         domicile to Delaware and merge with Global Media Group Holdings, Inc.,
         a newly formed Delaware Corporation. The name of the surviving
         corporation is Global Media Group Holdings, Inc. The Merger Agreement
         was executed and completed on March 31, 2006.

         The Company intends to develop operating opportunities through business
         combinations or mergers. To date, the Company has not conducted any
         significant operations, and its activities have focused primarily on
         incorporation activities, organizational efforts and identifying
         potential merger candidates. Since the Company has not yet commenced
         any principal operations, and has not yet earned significant revenues,
         the Company is considered to be a development-stage company (as defined
         in Statement of Financial Accounting Standards No. 7, Accounting and
         Reporting by Development Stage Enterprises), as of March 31, 2006.

         Management Estimates
         --------------------

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

         Income Taxes
         ------------

         The Company uses the liability method of accounting for income taxes.
         Accordingly, deferred tax liabilities and assets are determined based
         on the difference between the financial statement and tax bases of
         assets and liabilities, using enacted tax rates in effect for the year
         in which the differences are expected to reverse. Current income taxes
         are based on the year's taxable income for California income tax
         reporting purposes.


                                       9
<PAGE>


1.       BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Continued)
         --------------------------------------------

         Going Concern And Management's Plans
         ------------------------------------

         The accompanying consolidated financial statements, which have been
         prepared in conformity with accounting principles generally accepted in
         the United States of America, contemplates the continuation of the
         Company as a going concern. However, the Company has been in the
         development stage since its inception (April 28, 2000), sustained
         losses and has used capital raised through the issuance of stock and
         loans to fund activities. Continuation of the Company as a going
         concern is contingent upon establishing and achieving profitable
         operations. Such operations will require management to secure
         additional financing for the Company in the form of debt or equity.

         Management's plans with respect to these conditions are to search for
         operating opportunities through business combinations and/or mergers.
         In the interim, the Company will require minimal overhead, and key
         administrative and management functions will be provided by
         stockholders. However, there is no assurance the Company can raise
         sufficient cash to maintain its current development stage operations.
         The consolidated financial statements do not include any adjustments
         that might result from outcome of this uncertainty.

         Recent Accounting Pronouncements
         --------------------------------

         The Company has adopted accounting pronouncements issued before March
         31, 2006 that are applicable to the Company. The Company has determined
         that, as of March 31, 2006, there are no recent pronouncements which,
         if adopted, would have a material effect on the financial statements.

         Property and Equipment
         ----------------------

         When acquired, property and equipment will be stated at cost and will
         be depreciated when placed in service. The Company's policy is to
         capitalize the costs of material additions and major improvements,
         while expensing maintenance and repairs to expense as incurred.
         Computers and furniture will be depreciated over the estimated useful
         lives of the assets of between five and ten years utilizing the
         straight-line method.

         Organizational Costs
         --------------------

         When incurred, organizational costs will consist of legal, consulting
         and other professional expenses incurred in connection with the
         creation and capitalization of the Company. Organizational costs will
         be stated at cost and will be subject to periodic review and possible
         markdown for impairment of value, in accordance with accounting
         principles generally accepted in the United States.


                                       10
<PAGE>


2.       CAPITALIZATION
         --------------

         On March 3, 2006, the Company elected to merge with Matrix Concepts.
         The Merger Agreement was executed and completed on March 31, 2006. The
         capital structure of the surviving corporation consists of One Hundred
         Million (100,000,000) shares of $.001 par value common stock and Fifty
         Million (50,000,000) shares of preferred stock. Mr. David Kol was
         elected the President of the Company and received incentive
         compensation of 110,000 shares of preferred stock for accepting the
         position of President.

3.       INCOME TAXES
         ------------

         Significant components of the Company's deferred tax balances at March
         31, 2006 are as follows:

         Net operating loss carry-forwards                     $      6,000
         Valuation allowance                                         (6,000)
                                                               ------------
         Net deferred tax asset                                $       --
                                                               ============

         Statement of Financial Accounting Standards SFAS No. 109 requires a
         valuation allowance to be recorded when it is more likely than not that
         some or all of the deferred tax assets will not be realized. Due to the
         uncertainty of realization, a valuation allowance was created in 2003
         to eliminate the net deferred tax asset due to the uncertainties as to
         the amount of the taxable income that would be generated in future
         years. There was no increase in the deferred tax asset and the
         valuation allowance for the three months ended March 31, 2006.

         Net operating losses can be carried forward to each of the 20 taxable
         years following the loss year. The Company had available approximately
         $20,000 of unused Federal net operating loss carry-forwards at March
         31, 2006 that may be applied against future taxable income. These net
         operating loss carry-forwards expire for Federal purposes in 2023.
         There is no assurance that the Company will realize the benefit of the
         net operating loss carry-forwards.

         The Company's effective tax rate as a percentage of income before
         income tax expense differs from the statutory federal income tax rate
         primarily due to uncertainty over the utilization of net operating loss
         carry-forwards. A reconciliation of the differences between the
         statutory tax rate and the effective income tax rate is as follows

         Statutory federal tax (benefit) rate                          34%
         Valuation allowance                                          (34%)
                                                               ------------
         Effective income tax rate                                     --
                                                               ============



                                       11
<PAGE>

Item 2. Plan of Operation

General

The Company's plan is to seek, investigate, and if such investigation warrants,
consummate a merger or other business combination, purchase of assets or other
strategic transaction (a "Merger") with a corporation, partnership, limited
liability company or other business entity (a "Merger Target"), desiring the
perceived advantages of becoming a publicly reporting and publicly held
corporation. At this time, the Company has no plan, proposal, agreement,
understanding, or arrangement to enter into a Merger with any specific business
or company, and the Company has not identified any specific business or company
for investigation and evaluation. No member of Management or any promoter of the
Company, or an affiliate of either, has had any material discussions with any
other company with respect to any Merger. The Company will not restrict its
search to any specific business, industry, or geographical location, and may
participate in business ventures of virtually any kind or nature. Discussion of
proposed plan of operation and Mergers under this caption and throughout this
Quarterly Report is purposefully general and is not meant to restrict the
Company's virtually unlimited discretion to search for and enter into potential
business opportunities.

The Company may seek a Merger with an entity which only recently commenced
operations, or a developing company in need of additional funds to expand into
new products or markets or seeking to develop a new product or service, or an
established business which may be experiencing financial or operating
difficulties and needs additional capital which is perceived to be easier to
raise by a public company. In some instances, a Merger may involve entering into
a transaction with a corporation which does not need substantial additional cash
but which desires to establish a public trading market for its common stock. The
Company may purchase assets and establish wholly-owned subsidiaries in various
businesses or purchase existing businesses as subsidiaries.

Selecting a Merger Target will be complex and involve a high degree of risk.
Because of general economic conditions, rapid technological advances being made
in some industries, and shortages of available capital, management believes that
there are numerous entities seeking the benefits of a publicly-traded
corporation. Such perceived benefits of a publicly traded corporation may
include facilitating or improving the terms on which additional equity financing
may be sought, providing liquidity (subject to restrictions of applicable
statutes and regulations) for the principals of a business, creating a means for
providing incentive stock options or similar benefits to key employees,
providing liquidity (subject to restrictions of applicable statutes and
regulations) for all stockholders, and other items. Potential Merger Targets may
exist in many different industries and at various stages of development, all of
which will make the task of comparative investigation and analysis of such
Merger Targets extremely difficult and complex.

The Company has insufficient capital with which to provide the owners of Merger
Targets significant cash or other assets. Management believes the Company will
offer owners of Merger Targets the opportunity to acquire a controlling
ownership interest in a public company at substantially less cost than is
required to conduct an initial public offering. Nevertheless, the Company has
not conducted market research and is not aware of statistical data which would
support the perceived benefits of a Merger or acquisition transaction for the
owners of a Merger Target.

The Company also believes that finding a suitable Merger Target willing to enter
into a Merger with the Company may depend on the existence of a public trading
market for the Company's Common Stock. There is presently no material trading
market and there is no assurance that one can be developed.


                                       12
<PAGE>

The Company will not restrict its search for any specific kind of Merger Target,
and may merge with an entity which is in its preliminary or development stage,
which is already in operation, or in essentially any stage of its corporate
life. It is impossible to predict at this time the status of any business in
which the Company may become engaged, in that such business may need to seek
additional capital, may desire to have its shares publicly traded, or may seek
other perceived advantages which the Company may offer. However, the Company
does not intend to obtain funds in one or more private placements to finance the
operation of any acquired business opportunity until such time as the Company
has successfully consummated such a Merger.

Selection and Evaluation of Merger Targets

Management of the Company will have complete discretion and flexibility in
identifying and selecting a prospective Merger Target. In connection with its
evaluation of a prospective Merger Target, management anticipates that it will
conduct a due diligence review which will encompass, among other things, meeting
with incumbent management and inspection of facilities, as well as a review of
financial, legal and other information which will be made available to the
Company.

Under the Federal securities laws, public companies must furnish stockholders
certain information about significant acquisitions, which information may
require audited financial statements for an acquired company with respect to one
or more fiscal years, depending upon the relative size of the acquisition.
Consequently, the Company will only be able to effect a Merger with a
prospective Merger Target that has available audited financial statements or has
financial statements which can be audited.

The time and costs required to select and evaluate a Merger Target (including
conducting a due diligence review) and to structure and consummate the Merger
(including negotiating relevant agreements and preparing requisite documents for
filing pursuant to applicable securities laws and corporation laws) cannot
presently be ascertained with any degree of certainty. The Company's current
executive officer and director intends to devote only a small portion of his
time to the affairs of the Company and, accordingly, consummation of a Merger
may require a greater period of time than if the Company's management devoted
his full time to the Company's affairs. While no current steps have been taken
nor agreements reached, the Company may engage consultants and other third
parties providing goods and services, including assistance in the identification
and evaluation of potential Merger Targets. These consultants or third parties
have agreed to be paid only in securities of the Company, but we have not issued
any such securities to them at this time, and the consultants or third parties
may be placement agents or their affiliates. The Company will seek potential
Merger Targets from all known sources and anticipates that various prospective
Merger Targets will be brought to its attention from various non-affiliated
sources, including securities broker-dealers, investment bankers, venture
capitalists, bankers, other members of the financial community and affiliated
sources, including, possibly, the Company's executive officer, director and his
affiliates. While the Company has not yet ascertained how, if at all, it will
advertise and promote itself, the Company may elect to publish advertisements in
financial or trade publications seeking potential business acquisitions. While
the Company does not presently anticipate engaging the services of professional
firms that specialize in finding business acquisitions on any formal basis, the
Company may engage such firms in the future, in which event the Company may pay
a finder's fee or other compensation. In no event, however, will the Company pay
a finder's fee or commission to the officer and director of the Company or any
entity with which he is affiliated for such service. Moreover, in no event shall
the Company issue any of its securities to any officer, director or promoter of
the Company, or any of their respective affiliates or associates, in connection
with activities designed to locate a Merger Target.


                                       13
<PAGE>

In analyzing prospective Merger Targets, management may consider, among other
factors, such matters as;

1) the available technical, financial and managerial resources;

2) working capital and other financial requirements;

3) history of operation, if any;

4) prospects for the future;

5) present and expected competition;

6) the quality and experience of management services which may be available and
the depth of that management;

7) the potential for further research, development or exploration;

8) specific risk factors not now foreseeable but which then may be anticipated
to impact the proposed activities of the Company;

9) the potential for growth or expansion;

10) the potential for profit;

11) the perceived public recognition or acceptance of products, services or
trades; and

12) name identification.

Merger opportunities in which the Company may participate will present certain
risks, many of which cannot be adequately identified prior to selecting a
specific opportunity. The Company's stockholders must, therefore, depend on
Management to identify and evaluate such risks. The investigation of specific
Merger opportunities and the negotiation, drafting and execution of relevant
agreements, disclosure documents and other instruments will require substantial
management time and attention and substantial costs for accountants, attorneys
and others. If a decision is made not to participate in a specific Merger
opportunity the cost therefore incurred in the related investigation would not
be recoverable. Furthermore, even if an agreement is reached for the
participation in a specific Merger opportunity, the failure to consummate that
transaction may result in the loss of the Company of the related costs incurred.

There can be no assurance that the Company will find a suitable Merger Target.
If no such Merger Target is found, therefore, no return on an investment in the
Company will be realized, and there will not, most likely, be a market for the
Company's stock.

Structuring and Financing of a Merger

As a general rule, Federal and state tax laws and regulations have a significant
impact upon the structuring of Mergers. The Company will evaluate the possible
tax consequences of any prospective Merger and will endeavor to structure a
Merger so as to achieve the most favorable tax treatment to the Company, the
Merger Target and their respective stockholders. There can be no assurance that
the Internal Revenue Service or relevant state tax authorities will ultimately
assent to the Company's tax treatment of a particular consummated Merger. To the
extent the Internal Revenue Service or any relevant state tax authorities
ultimately prevail in recharacterizing the tax treatment of a Merger, there may


                                       14
<PAGE>

be adverse tax consequences to the Company, the Merger Target and their
respective stockholders. Tax considerations as well as other relevant factors
will be evaluated in determining the precise structure of a particular Merger.

The Company may utilize available cash and equity securities in effecting a
Merger. Although the Company has no commitments as of this date to issue any
shares of Common Stock or options or warrants, except for additional securities
that the Company expects to issue for certain professional services, other than
those already issued in the offering of its common stock pursuant to Regulation
D promulgated under the Securities Act of 1933, as amended (the "Securities
Act") (the "Private Placement"), the Company will likely issue a substantial
number of additional shares in connection with the consummation of a Merger,
probably in most cases equal to nine or more times the amount held by the
Company's stockholders prior to the Merger. The Company also may decide to issue
Preferred Stock, with liquidation and dividend rights, that are senior to the
Common Stock, in connection with a Merger or obtaining financing therefore,
although the Company has no present plans to do so. The Company currently has no
intention to issue Preferred Stock. The Company may have to effect reverse stock
splits prior to any Merger. To the extent that such additional shares are
issued, dilution to the interests of a Company's stockholders will occur.
Additionally, a change in control of the Company may occur which may affect,
among other things, the Company's ability to utilize net operating loss
carry-forwards, if any.

There currently are no limitations on each Company's ability to borrow funds to
effect a Merger. However, the Company's limited resources and lack of operating
history may make it difficult to borrow funds. The amount and nature of any
borrowings by the Company will depend on numerous considerations, including the
Company's capital requirements, potential lenders' evaluation of the Company's
ability to meet debt service on borrowings and the then prevailing conditions in
the financial markets, as well as general economic conditions. The Company has
no arrangements with any bank or financial institution to secure additional
financing and there can be no assurance that such arrangements if required or
otherwise sought, would be available on terms commercially acceptable or
otherwise in the best interests of the Company. The inability of the Company to
borrow funds required to effect or facilitate a Merger, or to provide funds for
an additional infusion of capital into a Merger Target, may have a material
adverse effect on the Company's financial condition and future prospects,
including the ability to effect a Merger. To the extent that debt financing
ultimately proves to be available, any borrowings may subject the Company to
various risks traditionally associated with indebtedness, including the risks of
interest rate fluctuations and insufficiency of cash flow to pay principal and
interest. Furthermore, a Merger Target may have already incurred debt financing
and, therefore, all the risks inherent thereto.

Competition for Merger Opportunities

The Company is, and will continue to be, an insignificant participant in the
business of seeking a Merger with a Merger Target. The Company expects to
encounter intense competition from other entities having business objectives
similar to those of the Company. Many of these entities, including venture
capital partnerships and corporations, other blind pool companies, large
industrial and financial institutions, small business investment companies and
wealthy individuals, are well-established and have extensive experience in
connection with identifying and effecting Mergers directly or through
affiliates. Many of these competitors possess greater financial, technical,
human and other resources than the Company and there can be no assurance that
the Company will have the ability to compete successfully. The Company's
financial resources will be limited in comparison to those of many of its
competitors. This inherent competitive limitation may compel the Company to
select certain less attractive Merger prospects. There can be no assurance that
such prospects will permit the Company to achieve its stated business
objectives.


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<PAGE>

Equipment and Employees

The Company has no operating business and thus no equipment and no employees,
and the Company does not expect to acquire any equipment or employees. The
Company does not intend to develop its own operating business but instead will
seek to effect a Merger with a Merger Target.

The Company incurred expenses of $ 800.00 related to California State taxes
during the first quarter of 2006. Since the Company has been inactive there were
no other expenses in the three months ended March 31, 2006.

The Company will incur substantial expenses, including expenses for professional
and other consulting services, during the next several periods.

ITEM 3. Controls and Procedures

a) Evaluation of Disclosure Controls and Procedures. As of March 31, 2006, the
Company's management carried out an evaluation, under the supervision of the
Company's Chief Executive Officer and the Chief Financial Officer of the
effectiveness of the design and operation of the Company's system of disclosure
controls and procedures pursuant to the Securities and Exchange Act, Rule
13a-15(e) and 15d-15(e) under the Exchange Act). Based upon that evaluation, the
Chief Executive Officer and Chief Financial Officer concluded that the Company's
disclosure controls and procedures were effective, as of the date of their
evaluation, for the purposes of recording, processing, summarizing and timely
reporting material information required to be disclosed in reports filed by the
Company under the Securities Exchange Act of 1934.

b) Changes in internal controls. There were no changes in internal controls over
financial reporting, known to the Chief Executive Officer or Chief Financial
Officer that occurred during the period covered by this report that has
materially affected, or is likely to materially effect, the Company's internal
control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

NONE

ITEM 2 - CHANGES IN SECURITIES

NONE

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

NONE

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

NONE


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<PAGE>

ITEM 5 - OTHER INFORMATION

As previously reported in a Report on Form 8-K filed April 4, 2006, on March 31,
2006, Matrix Concepts, Inc., a Nevada corporation ("Matrix"), and Global Media
Group Holdings, Inc., a Delaware corporation ("GMGH") entered an Agreement and
Plan of Merger (the "Merger Agreement") to implement the actions of the Matrix
stockholders taken by majority written consent without out a meeting on March 3,
2006. On April 3, 2006, the Certificate of Merger was filed with the Secretary
of State of the State of Delaware. The effect of the Merger Agreement was that:

1.   The corporation changed its corporate domicile to Delaware;
2.   The corporation changed its name to Global Media Group Holdings, Inc.;
3.   Upon filing the Certificate of Merger with the Secretary of State of the
     State of Delaware, each issued and outstanding share of common or preferred
     stock of Matrix was automatically exchanged for one (1) new share of common
     or preferred stock, respectively, of GMGH; and
4.   David Kol became the sole director of the GMGH and the President, Treasurer
     and Secretary of GMGH.

In addition, GMGH acquired 100% of the of the outstanding capital stock of
Global Media Group, Inc., a Nevada corporation ("GMG") from eight (8) persons.
The transaction closed on May 11, 2006. GMG is a development stage company with
a plan of operation to acquire and develop a select portfolio of media and
entertainment businesses. On February 17, 2006, GMG submitted a Letter of Intent
to purchase up to 52.8% of the shares of a company. In connection with the
execution of this Letter of Intent, GMG lent $16,000 on February 21, 2006 at 6%
per annum due April 2, 2006 and $10,000 on March 31, 2006 at 6% per annum due
May 24, 2006. Further, on February 24, 2006, GMG submitted a Letter of Intent to
purchase 100% of the shares of a second company. In connection with the
execution of this Letter of Intent, GMG lent $10,000 on March 31, 2006 at 6% per
annum and $50,000 on February 21, 2006 at 6% per annum, both due August 24,
2006. Further, on April 8, 2006 GMG submitted a Letter of Intent to purchase up
to 65% of a third company. On April 19, 2006 GMG submitted a Letter of Intent to
purchase 100% of the shares of a fourth company. On May 1, 2006 GMG submitted a
Letter of Intent to purchase 60% of the shares of a fifth company.

ITEM 6 - EXHIBITS

Exhibit No.   Description
-----------   -----------
3.1           Certificate of Incorporation of Global Media Group Holdings, Inc.*
3.2           Bylaws of Global Media Group Holdings, Inc.*
3.3           Certificate of Merger between Matrix Concepts, Inc. and Global
              Media Group Holdings, Inc.*
4.1           Certificate of Designations, Preferences, and Rights of the Series
              A Convertible Preferred
              Stock of Global Media Group Holdings, Inc.*
10.1          Agreement and Plan of Merger between Matrix Concepts, Inc. and
              Global Media Group Holdings, Inc.*
10.2          Purchase Agreement between GMGH and Eight Persons*
10.3          Employment Agreement between Global Media Group, Inc. and Andrew
              H. Orgel*
10.4          Employment Agreement between Global Media Group, Inc. and Gregory
              Fish*
10.5          Employment Agreement between Global Media Group, Inc. and David
              Kol*
31.1          Certification of Chief Executive Officer pursuant to Section 302
              of the Sarbanes-Oxley Act of 2002.
31.2          Certification of Chief Financial Officer pursuant to Section 302
              of the Sarbanes-Oxley Act of 2002.


                                       17
<PAGE>

32.1          Certification of Chief Executive Officer pursuant to Section 906
              of the Sarbanes-Oxley Act of 2002, furnished under Exhibit 32 of
              Item 601 of Regulation S-K.
32.2          Certification of Chief Financial Officer pursuant to Section 906
              of the Sarbanes-Oxley Act of 2002, furnished under Exhibit 32 of
              Item 601 of Regulation S-K

* previously filed, but incorporated herein by reference.

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.

Date: May 15, 2006
                                       Global Media Group Holdings, Inc.


                                       /s/ David Kol
                                       ----------------------------------------
                                       David Kol, President


                                       /s/ Gregory Fish
                                       ----------------------------------------
                                       Gregory Fish, Chief Financial Officer


                                       /s/ Andrew H. Orgel
                                       ----------------------------------------
                                       Andrew H. Orgel, Chief Financial Officer







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