| [X]                         | ANNUAL                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                  ACT of                  1934, as amended     |
|-----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             | For                  the year ended September 30, 2007                                                                                                  |
|                             |                                                                                                                                                         |
| OR                          |                                                                                                                                                         |
|                             |                                                                                                                                                         |
| [                    ] | TRANSITION                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                  ACT OF                  1934, as amended |
|                             | For                  the transition period from ________ to                  _________                                                                  |

| Nevada                                                         | N/A                                              |
|----------------------------------------------------------------|--------------------------------------------------|
| (State                  or Other Jurisdiction of Organization) | (IRS                  Employer Identification #) |

| PART                  I                                                                                                                                                    |    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|
|                                                                                                                                                                            |    |
| Item                  1. Description of Business                                                                                                                      | 4  |
|                                                                                                                                                                            |    |
| Item                  2. Description of Properties                                                                                                                         | 14 |
|                                                                                                                                                                            |    |
| Item                  3. Legal Proceedings                                                                                                                                 | 14 |
|                                                                                                                                                                            |    |
| Item                  4. Submission of Matters to a Vote of Security Holders                                                                                               | 14 |
|                                                                                                                                                                            |    |
| PART                  II                                                                                                                                                   |    |
|                                                                                                                                                                            |    |
| Item                  5. Market for Common Equity; Related Stockholder Matters and                  SmallBusiness                  Issuer Purchases of Equity Securities   | 16 |
|                                                                                                                                                                            |    |
| Item                  6. Management's Discussion and Analysis or Plan of                  Operation                                                                        | 18 |
|                                                                                                                                                                            |    |
| Item                  7. Financial Statements                                                                                                                              | 36 |
|                                                                                                                                                                            |    |
| Item                  8. Changes in and Disagreements with Accountants on Accounting                  andFinancial                  Disclosure                             | 36 |
|                                                                                                                                                                            |    |
| Item                  8A. Controls and Procedures                                                                                                                          | 36 |
|                                                                                                                                                                            |    |
| Item                  8B. Other Information                                                                                                                                | 38 |
|                                                                                                                                                                            |    |
| PART                  III                                                                                                                                                  |    |
|                                                                                                                                                                            |    |
| Item                  9. Directors, Executive Officers, Promoters, and Control                  Persons;Compliance                  with Section 16(a) of the Exchange Act | 39 |
|                                                                                                                                                                            |    |
| Item                  10. Executive Compensation                                                                                                                           | 42 |
|                                                                                                                                                                            |    |

| Item                  11. Security Ownership of Certain Beneficial Owners and                  Managementand                  Related Stockholder Matters | 47 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|----|
|                                                                                                                                                           |    |
| Item                  12. Certain Relationships and Related Transactions                                                                                  | 48 |
|                                                                                                                                                           |    |
| Item                  13. Exhibits                                                                                                                        | 48 |
|                                                                                                                                                           |    |
| Item                  14. Principal Accountant Fees and Services                                                                                          | 49 |
|                                                                                                                                                           |    |
| Signature                  Page                                                                                                                           |    |

|  | Chinese film                  makers produced 330 movies in 2006, up 27% from the 2005 tally of                  260. |
|----------|---------------------------------------------------------------------------------------------------------------------------------|

|  | China                  has the world's third most-prolific movie industry, behind only                  Hollywood                  and Bollywood. |
|----------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|  | China's                  box office receipts of RMB 2.6 billion (US$352 Million) marked                  a 30% rise                  from the 2005 total. |
|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | Market                  share of Chinese-made films in the China market is improving, as                  although                  RMB 1.2 billion (US$160 million) of box office receipts were from                  imported                  films, the remaining RMB 1.4 billion (US$192 million, 55% of the                  total)                  was generated by domestic films. |
|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | The                  Chinese domestic box office reached over RMB 1 billion (US$135.1                  million)                  for the first half of 2007. |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | Chinese                  films generated RMB 1.9 billion ($257 million) overseas in 2006,                  12% more                  of their 2005 overseas take. |
|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                       |  | Bid                  (U.S. $) |
|---------------------------------------|--|-------------------------------|
|                                       |  |  HIGH                    |  LOW |
| 2007                                  |  |                               |  |
|  First                  Quarter  |  | 1.20                          | 0.53 |
|  Second                  Quarter |  | 0.94                          | 0.45 |
|  Third                  Quarter  |  | 0.55                          | 0.09 |

|  Fourth                  Quarter |  | 0.16 | 0.07 |
|---------------------------------------|--|------|------|
|                                       |  |      |      |

| ·   | the                  number of shares of the Company's common stock issuable upon exercise                  of                  outstanding options, warrants and rights, separately identified                  by                  those granted under equity incentive plans approved by the                  Company's stockholders and those granted under plans, including                  individual                  compensation contracts, not approved by the Company's stockholders                  (column                  a), |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the                  weighted average exercise price of such options, warrants and rights,                  also                  as separately identified (column b),                  and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the                  number of shares remaining available for future issuance under                  such plans,                  other than those shares issuable upon exercise of outstanding options,                  warrants and rights (column c). |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                         | (a)                                                                                                                                            | (b)                                                                                          | (c)                                                                                                                                                                                            |
|-------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Plan                  Category                                          | Number                  of securities to be issued upon exercise of outstanding options,                  warrants                  and rights | Weighted-average                  exercise price of outstanding options, warrants and rights | Number                  of securities remaining available for future issuance under equity                  compensation plans (excluding securities reflected in column                  (a)) |
| Equity                  compensation plans approved by security holders | none                                                                                                                                           | None                                                                                         | None                                                                                                                                                                                           |

| Equity                  compensation plans not approved by security holders | none | None | none |
|-----------------------------------------------------------------------------|------|------|------|
| Total                                                                       | none | None | none |

The        film making industry requires significant up-front capital        expenditures.

|  | ཉ | exercising                  voting, redemption and conversion rights to the detriment of the                  holders                  of common stock; |
|--|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ཉ | receiving                  preferences over the holders of common stock regarding or surplus                  funds in                  the event of its dissolution or                  liquidation; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ཉ | delaying,                  deferring or preventing a change in control of the Company;                  and |
|--|---------|-------------------------------------------------------------------------------------------------------------|

|  | ཉ | discouraging                  bids for its common stock. |
|--|---------|----------------------------------------------------------|

|  | ཉ | announcements                  of contracts or innovations by the Company or its                  competitors; |
|--|---------|----------------------------------------------------------------------------------------------------------------|

|  | ཉ | announcements                  of new entertainment products or new contracts by the Company or                  its                  competitors; |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ཉ | actual                  or anticipated variations in its operating results due to the level                  of                  expenses and other factors; |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ཉ | changes                  in financial estimates by securities analysts and whether its earnings                  meet or exceed such estimates; |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ཉ | new                  accounting standards; |
|--|---------|--------------------------------------------|

|  | ཉ | general                  economic, political and market conditions and other factors;                  and |
|--|---------|------------------------------------------------------------------------------------------------------------|

|  | ཉ | The                  lack of depth and liquidity of the market for our common stock;                  and |
|--|---------|-----------------------------------------------------------------------------------------------------------|

Only        a limited trading market for our common stock        exists.

| l   | Was                  appointed as an approved public relations vendor for Microsoft                  China.                  Contracts signed with Microsoft China amounted to about US$496,000                  as of                  the date of this report; |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| l   | Was                  appointed as an approved public relations vendor for Siemens. Total                  contract value is about US$211,000 as of the date of this                  report; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| l   | Managed                  conferences and forums, promoted new products, built conference                  sites, and                  conducted many other events for renowned companies such as Johnson&                  Johnson, Canon, Reuters, etc. Contracts signed with these companies                  amounted to about US$914,000 as of the date of this                  report. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Greater                    China Media and                    Entertainment Corp.                                                                 |   |                                                                                                                                              |   |                                                                                                                                              |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|
| (formerly                    AGA Resources,                    Inc.)                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| (A                    Development Stage                    Company)                                                                               |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Consolidated                    Balance                    Sheets                                                                                 |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   | September                    30,                                                                                                                  |   | September                    30,                                                                                                                  |
|                                                                                                                                              |   | 2007                                                                                                                                              |   | 2006                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| ASSETS                                                                                                                                            |   |                                                                                                                                              |   |                                                                                                                                              |
| Current                    assets                                                                                                                 |   |                                                                                                                                              |   |                                                                                                                                              |
|    Cash                                                                                                                            | $      |               81,885                                                        | $      |               25,631                                                        |
|    Accounts                    receivable                                                                                          |   |             519,250                                                                   |   |                         - |
|    Other                    receivables                                                                                            |   |             111,503                                                                   |   |                         - |
|    Prepaid                    expenses                                                                                             |   |               38,649                                                        |   |               30,000                                                        |
| Total                    current                    assets                                                                                        |   |             751,287                                                                   |   |               55,631                                                        |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Fixed                    assets,                    net                                                                                           |   |               12,969                                                        |   |                         - |
| Capitalized                    film and television                    costs                                                                       |   |          1,037,007                                                                                   |   |                         - |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Total                    assets                                                                                                                   | $      |          1,801,263                                                                                   | $      |               55,631                                                        |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| LIABILITIES                                                                                                                                       |   |                                                                                                                                              |   |                                                                                                                                              |
| Current                    liabilities                                                                                                            |   |                                                                                                                                              |   |                                                                                                                                              |
|    Accounts                    payable                    and accrued liabilities                                                  | $      |             230,180                                                                   | $      |               15,223                                                        |
|    Deferred                    revenues                                                                                            |   |             133,380                                                                   |   |                         - |
|    Accrued                    consulting fees payable to related parties                                                           |   |             499,775                                                                   |   |               83,333                                                        |
|    Loans                    payable to                    related parties                                                          |   |             334,512                                                                   |   |               82,711                                                        |
| Total                    current liabilities and                    total liabilities                                                             |   |          1,197,847                                                                                   |   |             181,267                                                                   |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Minority                    Interests                                                                                                             |   |               12,992                                                        |   |                         - |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| STOCKHOLDERS'                    EQUITY                    (DEFICIENCY)                                                                           |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Stockholders'                    Equity                    (Deficiency)                                                                           |   |                                                                                                                                              |   |                                                                                                                                              |
|    Preferred                    stock:                    $0.00001 par value;                                                      |   |                                                                                                                                              |   |                                                                                                                                              |
|    authorized                    100,000,000 shares,                                                                               |   |                                                                                                                                              |   |                                                                                                                                              |
|    issued                    and                    outstanding 0 and 0 shares, respectively                                       |   |                         - |   |                         - |
|    Common                    stock,                    $0.00001 par value;                                                         |   |                                                                                                                                              |   |                                                                                                                                              |
|    authorized                    100,000,000 shares,                                                                               |   |                                                                                                                                              |   |                                                                                                                                              |
|    issued                    and                    outstanding 25,300,000 and 20,100,000 shares,                    respectively  |   |                    253                             |   |                    201                             |
|    Additional                    paid-in capital                                                                                   |   |          1,756,622                                                                                   |   |             115,674                                                                   |
|    Accumulated                    other comprehensive income                                                                       |   |               18,416                                                        |   |                         - |
|    Deficit                    accumulated during the development stage                                                             |   |        (1,184,867)                                                                                             |   |           (241,511)                                                                             |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Total                    stockholders' equity                    (deficiency)                                                                     |   |             590,424                                                                   |   |           (125,636)                                                                             |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| Total                    liabilities and                    stockholders' equity                                                                  | $      |          1,801,263                                                                                   | $      |               55,631                                                        |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |
| (The                    accompanying notes are an                    integral part of these consolidated financial                    statements) |   |                                                                                                                                              |   |                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                                              |   |                                                                                                                                              |

| Greater                    China Media and                    Entertainment Corp.                                                                 |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (formerly                    AGA Resources,                    Inc.)                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| (A                    Development Stage                    Company)                                                                               |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Consolidated                    Statements of                    Operations                                                                       |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   | Cumulative                                                                                                                                                                                                    |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   | during                    the                                                                                                                                                                                 |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   | development                    stage                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   | (December                    15.                                                                                                                                                                              |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   | 2004                    to                                                                                                                                                                                    |
|                                                                                                                                              |   | Year                    ended September                    30,                                                                  |   | September                    30,                                                                                                |
|                                                                                                                                              |   | 2007                                                                                                                            |   | 2006                                                                                                                            |   | 2007)                                                                                                                                                                                                         |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Revenues                                                                                                                                          |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|    Promotion                    and                    event services                                                              | $      |          671,225                                                                   | $      |                      - | $      |                       671,225                                                                   |
|    Film                    and                    television production and distribution                                           |   |                      - |   |                      - |   |                                   - |
| Total                    revenues                                                                                                                 |   |          671,225                                                                   |   |                      - |   |                       671,225                                                                   |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Costs                    and                    Expenses                                                                                          |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|    Costs                    related to                    promotion and event services revenues                                    |   |          671,011                                                                   |   |                      - |   |                       671,011                                                                   |
|    Costs                    related to                    film and television production and                                       |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|       distribution                    revenues                                                                      |   |                      - |   |                      - |   |                                   - |
|    Amortization                    of                    capitalized film and                                                      |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|       television                    costs                                                                           |   |            90,000                                                        |   |                      - |   |                         90,000                                                        |
|    Selling,                    general                    and administrative expenses                                              |   |          867,805                                                                   |   |          195,362                                                                   |   |                    1,093,649                                                                                   |
| Total                    operating costs and                    expenses                                                                          |   |       1,628,816                                                                                   |   |          195,362                                                                   |   |                    1,854,660                                                                                   |
| Income                    (loss) from                    operations                                                                               |   |         (957,591)                                                                       |   |         (195,362)                                                                       |   |                   (1,183,435)                                                                                       |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Interest                    income                                                                                                                |   |                 923                             |   |                      - |   |                              923                             |
| Minority                    interests                                                                                                             |   | 13,312                                                                                                                          |   |                      - |   |                         13,312                                                        |
| Income                    (loss) before income                    taxes                                                                           |   | -943,356                                                                                                                        |   | -195,362                                                                                                                        |   | -1,169,200                                                                                                                                                                                                    |
| Income                    taxes                                                                                                                   |   |                      - |   |                      - |   |                                   - |
| Loss                    from continuing                    operations                                                                             |   |         (943,356)                                                                       |   |         (195,362)                                                                       |   |                   (1,169,200)                                                                                       |
| Loss                    from discontinued                    operations                                                                           |   |                      - |   |           (12,467)                                                            |   |                        (15,667)                                                            |
| Net                    loss                                                                                                                       | $      |         (943,356)                                                                       | $      |         (207,829)                                                                       | $      |                   (1,184,867)                                                                                       |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Net                    loss per share - basic and                    diluted:                                                                     |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Loss                    from continuing                    operations                                                                             | $      |               (0.04)                                      | $      |               (0.01)                                      |   |                                                                                                                                                                                                          |
| Loss                    from discontinued                    operations                                                                           |   |                      - |   |               (0.00)                                      |   |                                                                                                                                                                                                          |
| Net                    loss                                                                                                                       | $      |               (0.04)                                      | $      |               (0.01)                                      |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| Number                    of common shares used                    to                                                                             |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| compute                    net loss per                    share                                                                                  |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|   Basic                    and                    diluted                                                                               |   |     22,050,959                                                                                              |   |     18,771,780                                                                                              |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
|                                                                                                                                              |   |                                                                                                                            |   |                                                                                                                            |   |                                                                                                                                                                                                          |
| (The                    accompanying notes are an                    integral part of these consolidated financial                    statements) |   |                                                                                                                            |

| Greater                      China Media and                      Entertainment Corp.                                                                   |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| (formerly                      AGA Resources,                      Inc.)                                                                                |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| (A                      Development Stage                      Company)                                                                                 |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Consolidated                      Statements of                      Stockholders' Equity (Deficiency)                                                  |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| For                      the period December 15, 2004                      (Inception) to September 30, 2007                                            |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    | Deficit                                                                                                                                           |                                                                                                                                                                                                    |                                                                                                                                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    | Accumulated                                                                                                                                       |                                                                                                                                                                                                    |                                                                                                                                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    | During                      the                                                                                                                   |  Accumulated                      other                                                                                                                                                            | Total                                                                                                                                                 |
|                                                                                                                                                    |  Common                      Stock                                                                                         |  Additional                                                                            |  Development                                                                                                                                       |  comprehensive                                                                                                                               | Stockholders'                                                                                                                                                                                           |
|                                                                                                                                                    |  Shares                                                                                                                    |  Amount                                                                                |  paid-in                      capital                                                                                                              |  Stage                                                                                                                                       |  income                                                                                                                                                                                            | Equity                      (Deficiency)                                                                                                              |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Sale                      of common stock                      on                                                                                       |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| December                      17, 2004 at $0.0001 per                      share                                                                        |     10,000,000                                                                                              |  $       100                                        |  $                  900                                  |  $                     -            |  $                              -            |  $                     1,000            |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Donated                      services                                                                                                                   |                      - |                - |                   7,125                                       |                         - |                                  - |                         7,125 |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Net                      loss for the period December                      15,                                                                          |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| 2004                      (inception) to September 30,                      2005                                                                        |                      - |                - |                          - |              (33,682)                                                            |                                                                                                                                                                                                    |                      (33,682)                |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Balance,                      September 30,                      2005                                                                                   |     10,000,000                                                                                              |           100                             |                   8,025                                       |              (33,682)                                                            |                                  - |                      (25,557)                |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Sale                      of common stock in public                      offering                                                                       |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| at                      $0.01 per share which                      closed                                                                               |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| November                      28,                      2005                                                                                             |     10,100,000                                                                                              |           101                             |               100,899                                                             |                         - |                                  - |                     101,000                       |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Donated                      services                                                                                                                   |                      - |                - |                   6,750                                       |                         - |                                  - |                         6,750 |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Net                      loss for the                      year                                                                                         |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| ended                      September 30,                      2006                                                                                      |                      - |                - |                          - |            (207,829)                                                                       |                                  - |                    (207,829)                           |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Balance,                      September 30,                      2006                                                                                   |     20,100,000                                                                                              |           201                             |               115,674                                                             |            (241,511)                                                                       |                                  - |                    (125,636)                           |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Sale                      of units in private                      placement                                                                            |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| at                      $0.50 per                      unit                                                                                             |       3,200,000                                                                                   |             32                  |            1,599,968                                                                             |                         - |                                  - |                  1,600,000                                       |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Commissions                      relating to private                      placement                                                                     |                                                                                                                            |                                                                                        |               (80,000)                                                            |                         - |                                  - |                      (80,000)                |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Issuance                      of common stock to                      Racemind shareholders                                                             |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| relating                      to the formation of the                      Racemind                                                                     |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Joint                      Venture                                                                                                                      |       2,000,000                                                                                   |             20                  |               120,980                                                             |                         - |                                  - |                     121,000                       |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Foreign                      translation                      adjustment                                                                                |                      - |                - |                          - |                         - |                         18,416                                                  |                       18,416            |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Net                      loss for the                      year                                                                                         |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| ended                      September 30,                      2007                                                                                      |                      - |                - |                          - |            (943,356)                                                                       |                                  - |                    (943,356)                           |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| Balance,                      September 30,                      2007                                                                                   |     25,300,000                                                                                              |  $       253                                        |  $        1,756,622                                                                                        |  $     (1,184,867)                                                                                                  |  $                     18,416                                                             |  $                 590,424                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
|                                                                                                                                                    |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |                                                                                                                                                                                                    |                                                                                                                                                  |
| (The                      accompanying notes are an                      integral part of these consolidated financial                      statements) |                                                                                                                            |                                                                                        |                                                                                                                                                    |                                                                                                                                              |

| Greater                      China Media and                      Entertainment Corp.                                                                          |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|---------------------------------------------------------------------------------------------------------------------------|---------|---------------------------------------------------------------------------------------------------------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (formerly                      AGA Resources,                      Inc.)                                                                                       |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| (A                      Development Stage                      Company)                                                                                        |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Consolidated                      Statements of Cash                      Flows                                                                                |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |  Cumulative                      during                      the                                                                                                                                                                                                                 |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |  development                      stage                                                                                                                                                                                                                                          |
|                                                                                                                                                           |    |  Year                      ended September                      30,                                                  |    |  (December                      15, 2004                      to                                   |
|                                                                                                                                                           |    | 2007                                                                                                                      |    | 2006                                                                                                    |    | September                      30,                      2007)                                                                                                                                                                                                                         |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Cash                      flows from operating                      activities                                                                                 |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|    Net                      loss                                                                                                                | $       |        (943,356)                                                                       | $       |    (207,829)                                                                             | $       |                               (1,184,867)                                                                                       |
|    Adjustments                      to                      reconcile net loss to net cash                                                      |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|    provided                      by                      (used for) operating activities:                                                       |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|    Impairment                      of                      mining property acquisition costs                                                    |    |                     - |    |          3,376                                             |    |                                       6,576                                             |
|    Loss                      on disposal                      of mining equipment                                                               |    |                     - |    |          9,091                                             |    |                                       9,091                                             |
|    Services                      donated                                                                                                        |    |                     - |    |          4,500                                             |    |                                       9,250                                             |
|    Rent                      donated                                                                                                            |    |                     - |    |          2,250                                             |    |                                       4,625                                             |
|    Depreciation                      of                      fixed assets                                                                       |    |                426                             |    |                  - |    |                                          426                             |
|    Amortization                      of                      capitalized film and television costs                                              |    |           90,000                                                        |    |                  - |    |                                     90,000                                                        |
|    Stock                      based                      incentive relating to the formation of the Racemind joint                      venture |    |         121,000                                                                   |    |                  - |    |                                   121,000                                                                   |
|    Minority                      interests                                                                                                      |    |          (13,312)                                                            |    |                                                                                                    |    |                                    (13,312)                                                            |
|    Changes                      in                      operating assets and liabilities:                                                       |    |                                                                                                                      |    |                                                                                                    |    |                                               - |
|      Accounts                      receivable                                                                                         |    |        (519,250)                                                                       |    |                                                                                                    |    |                                  (519,250)                                                                       |
|      Other                      receivables                                                                                           |    |        (111,503)                                                                       |    |                  - |    |                                  (111,503)                                                                       |
|      Prepaid                      expenses                                                                                            |    |            (8,649)                                                 |    |      (30,000)                                                                  |    |                                    (38,649)                                                            |
|      Accounts                      payable and accrued liabilities                                                                    |    |         214,957                                                                   |    |        92,768                                                        |    |                                   230,180                                                                   |
|      Deferred                      revenues                                                                                           |    |         133,380                                                                   |    |                  - |    |                                   133,380                                                                   |
|      Accrued                      consulting fees payable to related parties                                                          |    |         416,442                                                                   |    |                  - |    |                                   499,775                                                                   |
|      Advances                      on share subscriptions                                                                             |    |                     - |    |      (12,500)                                                                  |    |                                               - |
| Net                      cash provided by (used for)                      operating activities                                                                 |    |        (619,865)                                                                       |    |    (138,344)                                                                             |    |                                  (763,278)                                                                       |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Cash                      flows from investing                      activities                                                                                 |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|   Capitalized                      film and                      television costs                                                                    |    |     (1,127,007)                                                                                       |    |                  - |    |                               (1,127,007)                                                                                       |
|   Acquisition                      of fixed                      assets                                                                              |    |          (13,406)                                                            |    |                  - |    |                                    (13,406)                                                            |
|   Acquisition                      of mining                      equipment                                                                          |    |                     - |    |      (36,696)                                                                  |    |                                    (36,696)                                                            |
|   Disposal                      of mining                      equipment                                                                             |    |                     - |    |        27,605                                                        |    |                                     27,605                                                        |
|   Mining                      property                      acquisition costs                                                                        |    |                     - |    |        (3,376)                                                       |    |                                      (6,576)                                                 |
| Net                      cash provided by (used for)                      investing activities                                                                 |    |     (1,140,413)                                                                                       |    |      (12,467)                                                                  |    |                               (1,156,080)                                                                                       |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Cash                      flows from financing                      activities                                                                                 |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|   Loans                      from related                      parties                                                                               |    |         251,801                                                                   |    |        30,000                                                        |    |                                   334,512                                                                   |
|   Proceeds                      from sales of                      common stock, net                                                                 |    |      1,520,000                                                                                   |    |      101,000                                                                   |    |                                1,622,000                                                                                   |
|   Minority                      interests                                                                                                            |    |           26,616                                                        |    |                  - |    |                                     26,616                                                        |
| Net                      cash provided by (used for)                      financing activities                                                                 |    |      1,798,417                                                                                   |    |      131,000                                                                   |    |                                1,983,128                                                                                   |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Effect                      of foreign exchange rate                      changes on cash                                                                      |    |           18,115                                                        |    |                  - |    |                                     18,115                                                        |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Increase                      (decrease) in                      cash                                                                                          |    |           56,254                                                        |    |      (19,811)                                                                  |    |                                     81,885                                                        |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Cash,                      beginning of                      period                                                                                            |    |           25,631                                                        |    |        45,442                                                        |    |                                               - |
| Cash,                      end of                      period                                                                                                  | $       |           81,885                                                        | $       |        25,631                                                        | $       |                                     81,885                                                        |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| Supplemental                      disclosure of cash                      flow information:                                                                    |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|     Interest                      paid                                                                                                     |  $ |                     - |  $ |                  - |  $ |                                               - |
|     Income                      tax                      paid                                                                              |  $ |                     - |  $ |                  - |  $ |                                               - |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                           |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |
| (The                      accompanying notes are an                      integral part of these consolidated financial                      statements)        |    |                                                                                                                      |    |                                                                                                    |    |                                                                                                                                                                                                                                                                                  |

| "Rich                          Dad, Poor Dad" television                          series |  $     666,884      |
|------------------------------------------------------------------------------------------|---------------------------------------------------|
| "Tough                          Guy" theatrical                          film            |        370,123 |
| Total                                                                                    |  $  1,037,007                      |

|                                                                                                                                                 |   | September                          30, |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|
|                                                                                                                                                 |   | 2007                                   |   | 2006 |
|                                                                                                                                                 |   |                                   |   |   |
| Consulting                          fee payable                          to:                                                                         |   |                                   |   |   |
|                                                                                                                                                      |        |                                   |   |   |
| Jake                          Wei (Chairman of the Board of                          Directors and Chief Executive Officer) and affiliated companies |        |  $  333,107             |   |  $  41,667 |
|                                                                                                                                                 |   |                                   |   |   |
|                               John Hui (Former Director and Chief Executive                        Officer)            |        |      166,668  |   |      41,666 |
| Total                                                                                                                                                |        |  $  499,775             |   |  $  83,333 |

|                                                                                                                                                                               | September                          30,           |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------|
|                                                                                                                                                                               | 2007                                             |   | 2006 |
|                                                                                                                                                                                    |                                             |   |   |
| Loans                            payable to Jack Wei,                            Chairman, and affiliated companies,non-interest                          bearing, due on demand   |  $  281,801                       |   |  $  82,711 |
|                                                                                                                                                                                    |                                             |   |   |
| Loan                            payable to Jian Ping Zhang,                            former chief executive officer,non-interest bearing,                          due on demand |        52,711 |   |              - |
| Total                                                                                                                                                                              |  $  334,512                       |   |  $  82,711 |

| Revenues:                                                                                               |   | 2007                                                                                  |    | 2006                                                                            |
|---------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------|---------|---------------------------------------------------------------------------------|
|  Promotional                          and event                          services                  | $      |       671,225                                           |  $ |              - |
|  Film                          and television                          production and distribution |   |               - |    |              - |
| Total                                                                                                   | $      |       671,225                                           |  $ |              - |
|                                                                                                    |   |                                                                                  |    |                                                                            |
| Income                          (loss) from                          operations:                        |   |                                                                                  |    |                                                                            |
|  Promotional                          and event                          services                  | $      |      (154,325)                                               |  $ |              - |
|  Film                          and television                          production and distribution |   |      (155,670)                                               |    |              - |
|  Corporate                                                                                         |   |      (647,596)                                               |    |     (195,362)                                               |
| Total                                                                                                   | $      |      (957,591)                                               |  $ |     (195,362)                                               |
|                                                                                                    |   |                                                                                  |    |                                                                            |
| Identifiable                          assets:                                                           |   |                                                                                  |    |                                                                            |
|  Promotional                          and event                          services                  | $      |       610,999                                           |  $ |              - |
|  Film                          and television                          production and distribution |   |     1,154,488                                                     |    |        30,000                                |
|  Corporate                                                                                         |   |         35,776                                |    |        25,631                                |
| Total                                                                                                   | $      |     1,801,263                                                     |  $ |        55,631                                |
|                                                                                                    |   |                                                                                  |    |                                                                            |
| Capital                          expenditures:                                                          |   |                                                                                  |    |                                                                            |
|  Promotional                          and event                          services                  | $      |         11,272                                |  $ |              - |
|  Film                          and television                          production and distribution |   |     1,129,141                                                     |    |              - |
| Total                                                                                                   | $      |     1,140,413                                                     |  $ |              - |
|                                                                                                    |   |                                                                                  |    |                                                                            |
| Depreciation                          and                          amortization:                        |   |                                                                                  |    |                                                                            |
|  Promotional                          and event                          services                  | $      |             331           |  $ |              - |
|  Film                          and television                          production and distribution |   |         90,095                                |    |              - |
| Total                                                                                                   | $      |         90,426                                |  $ |              - |

| Name                  and Address                                                      | Age    | Position(s)                                                                                                       |
|----------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------|
| Jake                  Wei                                                              | 38     | President,                  principal executive officer, and a member of the board of                  directors. |
| ChaoYang                  Qu, AnXiangBeiLi, ChuangYeDaSha B 1206, Beijing, China       |        |                                                                                                              |
|  Liu,                  XiaoLinJianguomenwai                  Road, Beijing, China | 44     | Principal                  accounting officer, and a member of the board of                  directors.           |
|                                                                                   |        |                                                                                                                   |
|                                                                                   |   |                                                                                                              |
| Yi                  Wang                                                               | 45     | A                  member of the board of directors.                                                              |
| 10-A                  Tongyongguoji Center,                                            |        |                                                                                                                   |
|  Beijing,                  China                                                  |        |                                                                                                                   |
|                                                                                        |        |                                                                                                                   |

| Name                  of officer                           | Year       | Salary        | Bonus  | Stock                  Awards | Option                  Awards | Non-Equity                  Incentive Plan Compen-sation | Nonquali-fied                  Deferred Compen-sation | AllOther                  Compen- sation | Total         |
|------------------------------------------------------------|------------|---------------|--------|-------------------------------|--------------------------------|----------------------------------------------------------|-------------------------------------------------------|------------------------------------------|---------------|
|                                                       |       |          |   |                          |                           |                                                     |                                                  |                                     |          |
| Jake                  Wei,                  Director  | 2007  | 250,000       | -      | -                             | -                              | -                                                        | -                                                     | -                                        | 250,000       |
| Jake                  Wei, CEO                             | 2006  | 104,167  | -      | -                             | -                              | -                                                        | -                                                     | -                                        | 104,167  |
| Jake                  Wei, President                       | 2005       | 0             | -      | -                             | -                              | -                                                        | -                                                     | -                                        |  0       |
| Liu,                  XiaoLin Director                     | 2007       | 0             | -      | -                             |                                |                                                          | -                                                     | -                                   | 0             |
| Liu,                  XiaoLinDirector                      | 2006       | 0             | -      | -                             |                                | -                                                        | -                                                     | -                                   | 0             |
| Liu,                  XiaoLin Director                     | 2005       | 0             | -      | -                             | -                              | -                                                        | -                                                     | -                                   | 0             |
| Yi                  Wang, Director                         | 2007       | 50,000        | -      | -                             | -                              | -                                                        | -                                                     | -                                        | 50,000        |
| Yi                  Wang, Director                         | 2006       | 0             | -      | -                             | -                              | -                                                        | -                                                     | -                                        | 0             |
| Yi                  Wang, Director                         | 2005       | 0             | -      | -                             | -                              | -                                                        | -                                                     | -                                        | 0             |

|                                                  | Direct                  Amount of |                                         | Percent                   |
|--------------------------------------------------|-----------------------------------|-----------------------------------------|---------------------------|
| Name                  of Beneficial Owner        | Beneficial                  Owner | Position                                | of                  Class |
| Jake                  Wei                        | 0                                 | President                  and Director | 0%                        |
|                                                  |                                   |                                         |                           |
| XiaoLin                  Liu                     | 0                                 | Director                                | 0%                        |
|                                                  |                                   |                                         |                           |
| Yi                  Wang                         | 0                                 | Director                                | 0%                        |
|                                                  |                                   |                                         |                           |
| All                  Officers and Directors as a |                                   |                                         |                           |
| Group                  (3 Persons)               | 0                                 |                                         | 0%                        |

| Exhibit                  No.  | Document                  Description                                                                                                                                                                                                                 |
|------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                                | Articles                  of Incorporation filed as Exhibit 3.1 to a registration statement                  on Form                  SB-2 filed with Commission on April 20, 2005                                                                    |
| 3.2                                | Bylaws                  filed as Exhibit 3.2 to a registration statement on Form SB-2 filed                  with                  Commission on April 20, 2005                                                                                       |
| 10.1                               | Joint                  Venture Agreement with Beijing Tangde International Film and Culture                  Co.,                  attached as Exhibit 10 to a Form 8-K filed with the Commission                  on June 15,                  2006. |
| 10.2                               | Joint                  Venture Agreement with Beijing New-Element Co., attached as Exhibit                  10 to                  a Form 8-K filed with the Commission on September 26,                  2006.                                       |
| 10.3                               | Joint                  Venture Agreement with Star King Talent Agency Ltd., attached as                  Exhibit                  10 to a Form 8-K filed with the Commission on December 8,                  2006.                                    |
| 14.1                               | Code                  of Ethics, attached as Exhibit 14.1 to a 10KSB filed with the Commission                  on January 11, 2007.                                                                                                                  |

| Exhibit                  No. | Document                  Description                                                                                                                                                                                                  |
|------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1                         | Certification                  of                  Principal Executive Officer pursuant to Rule 13a-14 and Rule 15d-14(a),                  promulgated under the Securities and Exchange Act of 1934, as                  amended.    |
| 31.2                         | Certification                  of                  Principal Financial Officer pursuant to Rule 13a-14 and Rule 15d-14(a),                  promulgated under the Securities and Exchange Act of 1934, as                  amended.    |
| 32.1                         | Certification                  pursuant                  to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of                  the                  Sarbanes-Oxley Act of 2002 (Chief Executive                  Officer). |
| 32.2                         | Certification                  pursuant                  to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of                  the                  Sarbanes-Oxley Act of 2002 (Chief Financial                  Officer). |

|  | 2006 | $ | 25,000 |  | Michael                  T. Studer, CPA P.C. |
|--|------|---|--------|--|----------------------------------------------|
|  | 2007 | $ | 43,000 |  | Michael                  T. Studer, CPA P.C. |

|  | 2006 | $ | 0 |  | Michael                  T. Studer, CPA P.C. |
|--|------|---|---|--|----------------------------------------------|
|  | 2007 | $ | 0 |  | Michael                  T. Studer, CPA P.C. |

|  | 2006 | $ | 0 |  | Michael                  T. Studer, CPA P.C. |
|--|------|---|---|--|----------------------------------------------|
|  | 2007 | $ | 0 |  | Michael                  T. Studer, CPA P.C. |

|  | 2006 | $ | 0 |  | Michael                  T. Studer, CPA P.C. |
|--|------|---|---|--|----------------------------------------------|
|  | 2007 | $ | 0 |  | Michael                  T. Studer, CPA P.C. |

|                                         | GREATER                  CHINA MEDIA AND ENTERTAINMENT CORP. |
|-----------------------------------------|--------------------------------------------------------------|
|                                         | (the                  “Registrant”)              |
|                                         |                                                              |  |
|  January                  14, 2008 | BY:                                                          | /s/                  Jake Wei |
|                                         |                                                              | Jake                  Wei, President, Principal Executive Officer and a Member of the                  Board of                  Directors |
|                                         |                                                              |  |
|  January                  14, 2008 | BY:                                                          | /s/                  XiaoLin Liu |
|                                         |                                                              | XiaoLin                  Liu, Principal Financial Officer and Principal Accounting Officer                  and a                  Member of a Board of Directors |
|  January                  14, 2008 | BY:                                                          | /s/                  Yi Wang |
|                                         |                                                              | Yi                  Wang, a Member of a Board of                  Directors |