----

----

| [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 Small                Business                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 and                Financial                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                                                                                                                       |   |

----

ITEM      1. DESCRIPTION OF BUSINESS

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

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

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

| Ø | 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. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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

ITEM      2. DESCRIPTION OF PROPERTIES

ITEM      3. LEGAL PROCEEDINGS

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

----

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

|                                |   | 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 |

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

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. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

ITEM      7. FINANCIAL      STATEMENTS.

| 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:                                                                 |   |                                                                                                                                 |   |                                                                                                                                 |   |                                                                                                                                                                                                               |
| Lossfrom                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                offixed                assets                                                          |         |                426                             |         |                  - |         |                                          426                             |
|    Amortization                of capitalized film                and television costs                                |         |           90,000                                                        |         |                  - |         |                                     90,000                                                        |
|    Stockbased                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                commonstock,                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 consolidatedfinancial                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                                |  $ |              - |

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

ITEM      8A. CONTROLS AND      PROCEDURES.

ITEM      8B. OTHER      INFORMATION.

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

| 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                                                |   |                                                                                                          |
|                                                                               |   |                                                                                                          |

ITEM      10. EXECUTIVE      COMPENSATION

| 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             |

ITEM      11. SECURITY OWNERSHIP      OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

|                                           | 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%                      |

ITEM      12. CERTAIN      RELATIONSHIPS AND RELATED TRANSACTIONS.

----

ITEM      13. EXHIBITS.

| 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). |

ITEM      14. PRINCIPAL      ACCOUNTING FEES AND SERVICES

|   | 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. |

----

SIGNATURES

|                                  | GREATER                CHINA MEDIA AND ENTERTAINMENT CORP. |
|---------------------------------------|------------------------------------------------------------|
|                                  | (the                “Registrant”)              |
|                                  |                                                       |   |
|  January                15, 2008 | BY:                                                        | /s/                Jake Wei |
|                                  |                                                       | Jake                Wei, President, Principal Executive Officer and a Member of the Board                of                Directors |
|                                  |                                                       |   |
|  January                15, 2008 | BY:                                                        | /s/                XiaoLin Liu |
|                                  |                                                       | XiaoLin                Liu, Principal Financial Officer and Principal Accounting Officer                and a                Member of a Board of Directors |
|  January                15, 2008 | BY:                                                        | /s/                Yi Wang |
|                                  |                                                       | Yi                Wang, a Member of a Board of                Directors |