U.S. SECURITIES AND EXCHANGE
COMMISSION Washington, D.C. 20549  FORM 10-QSB  [X] QUARTERLY REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended March
31, 2008   [   ] TRANSITION REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the transition period from  Commission File No. _____________  Jag
Media Group, Inc. (Name of Small Business Issuer in its
charter)  Colorado
-------------------(State or other jurisdiction of
(I.R.S. employerincorporation or formation)
identification
number)  15851 Dallas Parkway, Suite 180Addison,
Texas 75001 (Address of principal executive
offices)(Zip Code)  Issuers telephone number:(972) 450-5995 Issuers facsimile number:(972) 450-5988  Former Address NA  Copies to: Jag Media Group, Inc.15851 Dallas
Parkway, Suite 180Addison, Texas 75001  Check whether the issuer (1) filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12
months (or for such shorter period that the issuer was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. Yes [X] No [   ]  Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [  
]  State the number of shares outstanding of each of the
issuer's classes of common equity, as of May 20, 2008: 5,000,000 shares of
common stock.     JAG MEDIA GROUP,
INC.  FINANCIAL STATEMENTS (Unaudited)  March 31, 2008   JAG MEDIA GROUP, INC. (A Development Stage Enterprise) INDEX TO INTERIM AND UNAUDITED FINANCIAL
STATEMENTS March 31, 2008 (Unaudited)  PageFinancial StatementsBalance Sheet
F-1Statements of Operations
F-2Statements of Stockholders Equity
F-3Statements of Cash Flows
F-4Notes to Financial Statements
F-5 - F-6                  2  JAG MEDIA GROUP,
INC. (A Development Stage Enterprise) INTERIM AND UNAUDITED BALANCE SHEET MARCH 31, 2008  March 31, 2008

December 31, 2007(Unaudited)ASSETSTotal assets

$
-

$-LIABILITIES AND STOCKHOLDER'S DEFICITDue to Stockholder

$
3,988

$
        955Stockholder's equity


-

-Preferred stock, $.001 par value,authorized 20,000,000 shares, none
issued




-Common stock, $.001 par value,authorized 100,000,000 shares,


5,000

5,0005,000,000 issued and outstandingAdditional paid in capital


-

-Deficit accumulated during the development
stage


(8,988)

(5,955)Total stockholder's deficit


(3,988)

(955)Total liabilities and stockholder's
deficit


-

-$
-

$
            -  The accompanying notes are an integral part
of these financial statements  F-1    JAG MEDIA GROUP,
INC. (A Development Stage Enterprise) INTERIM AND UNAUDITED STATEMENTS OF
OPERATIONS (Unaudited)  Income


For
the
Three monthsended
March 31, 2008
For
the
Three monthsended
March 31, 2007

For
the period
February
16, 2007
(Inception)
through
March
31, 2008Revenue

$
-
$
-

$
-Expenses

$
-
$
-

$
-General and Administrative


3,033

5,000

$
8,988Total Expenses

$
3,033
$
5,000

$
8,988Net Loss


(3,033)

(5,000)


(8,988)Net loss per share (basic and diluted)

$
(0.00)
$
(0.00)

$
(0.00)Weighted average shares outstanding (basic and
diluted)


5,000,000

5,000,000


5,000,000  The accompanying notes are an integral part
of these financial statements  F-2             JAG MEDIA GROUP, INC. (A Development Stage Enterprise) INTERIM AND UNAUDITED STATEMENTS OF CHANGES
IN STOCKHOLDERS EQUITY For the period from February 16, 2007
(Inception) to March 31, 2008 (Unaudited)  Additional Paid-in Capital
Deficit accumulatedCommon StockShares
Amount
TotalIssuance
of Common StockBalance February 16, 2007

0
0
0
0

0Shares issued in Lieu of Services, February 16,
2007

5,000,000
$5,000
$0
$0

$5,000Net Loss




($5,955)

($5,955)Balance  December 31, 20075,000,000
$5,000.00
$0
($5,955)

(955)Net Loss




($3,033)

($3,033)Balance  March 31, 2008

5,000,000
$5,000.00
$0
($8,988)

($3,988)     The accompanying notes are an integral part
of these financial statements  F-3                        JAG MEDIA GROUP,
INC. (a Development Stage Enterprise) INTERIM AND UNAUDITED STATEMENTS OF CASH
FLOWS (Unaudited)  For the three month period ended March
31, 2008

For the three month period ended March
31, 2007
For the period
February 16, 2007
(Inception) through
March 31, 2008Cash flows from operating activitiesNet Loss
$     (3,033)

$     (5,000)
$
(8,988)Shares issued in lieu of Services
-

5,000

5,000Increase in Stockholder Advances
3,033

0

3,988Cash flows used in operating
activities
-0-

-0-

-0-Net increase in cash
-

-

-Cash, beginning of period
-

-

-Cash, end of period
$
             -

$
               -
$
-SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION:Cash paid during the period for:Interest
-

-

-Income taxes
-

-

-   The accompanying notes are an integral part
of these financial statements     F-4              JAG MEDIA GROUP, INC. (A Development Stage Enterprise) NOTES TO INTERIM AND UNAUDITED FINANCIAL
STATEMENTS March 31, 2008  NOTE 1 - Organization and Significant Accounting
Policies  Nature of Operations  Jag Media Group, Inc. (the Company) was incorporated in
the State of Colorado on February 16, 2007 and has been inactive since
inception.  The company intends to serve as a vehicle to effect an asset
acquisition, merger, exchange of capital stock or other business combination
with a domestic or foreign business. It is currently in its development
stage.  As a blank check company, the Companys business is to
pursue a business combination through acquisition, or merger with, an existing
company. As of the date of the financial statements, the Company has made no
efforts to identify a possible business combination. As a result, the Company
has not conducted negotiations or entered into a letter of intent concerning any
target business. No assurances can be given that the Company will be successful
in locating or negotiating with any target company.  Since inception, the Company has been engaged in
organizational efforts.  General The accompanying unaudited financial statements
include all adjustments of a normal and recurring nature, which, in the opinion
of Companys management, are necessary to present fairly the Companys financial
position as of March 31, 2008, the results of its operations for the three
months ended March 31, 2008 and 2007, and from the date of inception (February
16, 2007) through March 31, 2008, and cash flows for the three months ended
March 31, 2008 and 2007, and from the date of inception (February 16, 2007)
through March 31, 2008.  Certain information and footnote disclosures normally
included in financial statements prepared in accordance with generally accepted
accounting principles have been omitted pursuant to the rules and regulations of
the Securities and Exchange Commission.  The results of operations and cash flows for the period
since inception (February 16, 2007) through March 31, 2008 are not necessarily
indicative of the results to be expected for the full years operation and
should be read in conjunction with the Companys 2007 annual 10-KSB filed on
March 25, 2008 .  NOTE 2  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  BASIS OF PRESENTATION  DEVELOPMENT STAGE COMPANY  The Company has not earned any revenue from operations.
Accordingly, the Company's activities have been accounted for as those of a
"Development Stage Enterprise" as set forth in Financial Accounting Standards
Board Statement No. 7 ("SFAS 7"). Among the disclosures required by SFAS 7 are
that the Company's financial statements be identified as those of a development
stage company, and that the statements of operations, stockholders' equity and
cash flows disclose activity since the date of the Company's inception.  ACCOUNTING METHOD  The Company's financial statements are prepared using the
accrual method of accounting. The Company has elected a fiscal year ending on
December 31. F-5     BASIC EARNINGS (LOSS) PER SHARE  In February 1997, the FASB issued SFAS No. 128, "Earnings
Per Share", which specifies the computation, presentation and disclosure
requirements for earnings (loss) per share for entities with publicly held
common stock. SFAS No. 128 supersedes the provisions of APB No. 15, and requires
the presentation of basic earnings (loss) per share and diluted earnings (loss)
per share. The Company has adopted the provisions of SFAS No. 128.  Basic net loss per share amounts is computed by dividing
the net income by the weighted average number of common shares outstanding.
Diluted earnings per share are the same as basic earnings per share due to the
lack of dilutive items in the Company.  IMPACT OF NEW ACCOUNTING STANDARDS  The Company does not expect the adoption of recently
issued accounting pronouncements to have a significant impact on the Company's
results of operations, financial position, or cash flow.  NOTE 3 - GOING CONCERN  The Companys financial statements have been presented on
the basis that it is a going concern in the development stage, which
contemplates the realization of assets and the satisfaction of liabilities in
the normal course of business. As of the date of these financial statements, the
Company has made no efforts to identify a possible business combination.  The Companys shareholder shall fund the Companys
activities while the Company takes steps to locate and negotiate with a business
entity through acquisition, or merger with, an existing company; however, there
can be no assurance these activities will be successful.  NOTE 4 - SHAREHOLDER'S EQUITY  On Februay 16, 2007, the Board of Directors issued
5,000,000 shares of common stock for $5,000 in services to the founding
shareholder of the Company to fund organizational start-up costs.  The stockholders' equity section of the Company contains
the following classes of capital stock as of March 31, 2008:  -   Common stock, $ 0.001 par
value: 100,000,000 shares authorized; 5,000,000
shares issued and outstanding;  -   Preferred stock, $ 0.001
par value: 20,000,000 shares authorized; but not issued and
outstanding.  NOTE 5 - DUE TO STOCKHOLDER  Since September 12, 2007,
South Beach Live, Inc., the sole shareholder, has made advances to the Company
for certain professional expenses while the Company is in the professional
stage.  Amounts advanced to the Company totaled $3,988 and $955 at March
31, 2008 and December 31, 2007, respectively.    F-6      Item 2. Management's
Discussion and Analysis of Financial Conditions and Results of Operations Plan
of Operation  The Company will attempt to locate and negotiate with a
business entity for the combination of that target company with the Company. The
combination will normally take the form of a merger, stock-for-stock exchange or
stock-for- assets exchange (the "business combination"). In most instances the
target company will wish to structure the business combination to be within the
definition of a tax-free reorganization under Section 351 or Section 368 of the
Internal Revenue Code of 1986, as amended. No assurances can be given that the
Company will be successful in locating or negotiating with any target
business.  The Company has not restricted its search for any
specific kind of businesses, and it may acquire a business which is in its
preliminary or development stage, which is already in operation, or in
essentially any stage of its business life. It is impossible to predict the
status of any business in which the Company may become engaged, in that such
business may need to seek additional capital, may desire to have its shares
publicly traded, or may seek other perceived advantages which the Company may
offer.  In implementing a structure for a particular business
acquisition, the Company may become a party to a merger, consolidation,
reorganization, joint venture, or licensing agreement with another corporation
or entity.  It is anticipated that any securities issued in any such
business combination would be issued in reliance upon exemption from
registration under applicable federal and state securities laws. In some
circumstances, however, as a negotiated element of its transaction, the Company
may agree to register all or a part of such securities immediately after the
transaction is consummated or at specified times thereafter. If such
registration occurs, it will be undertaken by the surviving entity after the
Company has entered into an agreement for a business combination or has
consummated a business combination. The issuance of additional securities and
their potential sale into any trading market which may develop in the Company's
securities may depress the market value of the Company's securities in the
future if such a market develops, of which there is no assurance. However, if
the Company cannot effect a non-cash acquisition, the Company may have to raise
funds from a private offering of its securities under Rule 506 of Regulation D.
There is no assurance the Company would obtain any such equity funding.  The Company will participate in a business combination
only after the negotiation and execution of appropriate agreements. Negotiations
with a target company will likely focus on the percentage of the Company which
the target company shareholders would acquire in exchange for their
shareholdings. Although the terms of such agreements cannot be
predicted, generally such agreements will require certain representations and
warranties of the parties thereto, will specify certain events of default, will
detail the terms of closing and the conditions which must be satisfied by the
parties prior to and after such closing and will include miscellaneous other
terms. Any merger or acquisition effected by the Company can be expected to have
a significant dilutive effect on the percentage of shares held by the Company's
shareholders at such time.  Results of Operation  The Company did not have any operating income and only
$3,033 of general administrative costs incurred for the three month period ended
March 31, 2008.  Since inception, (February 16, 2007) through March 31,
2008, total general administrative costs were $8,988.  General and
administrative expenses incurred since inception are primarily due to legal,
accounting and other professional fees. 3   Liquidity and Capital Resources  At March 31, 2008, the Company had no capital resources
and will rely upon the issuance of common stock and additional capital
contributions from shareholders to fund administrative expenses pending
acquisition of an operating company. Management anticipates seeking out a target company
through solicitation. Such solicitation may include newspaper or magazine
advertisements, mailings and other distributions to law firms, accounting firms,
investment bankers, financial advisors and similar persons, the use of one or
more World Wide Web sites and similar methods. No estimate can be made as to the
number of persons who will be contacted or solicited. Management may engage in
such solicitation directly or may employ one or more other entities to conduct
or assist in such solicitation. Management and its affiliates will pay referral
fees to consultants and others who refer target businesses for mergers into
public companies in which management and its affiliates have an interest.
Payments are made if a business combination occurs, and may consist of cash or a
portion of the stock in the Company retained by management and its affiliates,
or both.  The Company and or shareholders will supervise the search
for target companies as potential candidates for a business combination. The
Company and or shareholders may pay as their own expenses any costs incurred in
supervising the search for a target company. The Company and or shareholders may
enter into agreements with other consultants to assist in locating a target
company and may share stock received by it or cash resulting from the sale of
its securities with such other consultants.  Item 3. Controls and Procedures  (a)Evaluation
of disclosure controls and procedures.  Our Chief Executive Officer and Chief Financial Officer
(collectively the Certifying Officers) maintain a system of disclosure
controls and procedures that is designed to provide reasonable assurance that
information, which is required to be disclosed, is accumulated and communicated
to management timely. Under the supervision and with the participation of
management, the Certifying Officers evaluated the effectiveness of the design
and operation of our disclosure controls and procedures (as defined in Rule
[13a-14(c)/15d-14(c)] under the Exchange Act) within 90 days prior to the filing
date of this report. Based upon that evaluation, the Certifying Officers
concluded that our disclosure controls and procedures are effective in timely
alerting them to material information relative to our company required to be
disclosed in our periodic filings with the SEC.  (b)Changes in
internal controls.  Our Certifying Officer has indicated that there were no
significant changes in our internal controls or other factors that could
significantly affect such controls subsequent to the date of his evaluation, and
there were no such control actions with regard to significant deficiencies and
material weaknesses.  PART II - OTHER INFORMATION  Item 1.Legal Proceedings.  The Company is currently not a party to any pending legal
proceedings and no such action by or to the best of its knowledge, against the
Company has been threatened.  Item 2.Changes in Securities.  None 4   Item 3.Defaults Upon Senior Securities.  None  Item 4.Submission of Matters to a Vote of
Security Holders. No matter was submitted during the quarter ending March
31, 2008, covered by this report to a vote of the Company's shareholders,
through the solicitation of proxies or otherwise.  Item 5.
           Change in
Control of Registrant  No changes in the three months ended March 31, 2008.  Item 6.Other Information.  None  Item 7.Exhibits and Reports of Form
8-K.  (a)Exhibits 31.1

Certification pursuant to Section 302 of
Sarbanes Oxley Act of 200232.1

Certification pursuant to Section 906 of
Sarbanes Oxley Act of 2002   (b)Reports of Form 8-K  No 8-Ks were filed in the three months ended March 31,
2008.  SIGNATURES  In accordance with Section 13 or 15(d) of the Exchange
Act, the registrant caused this report to be signed on its behalf by the
undersigned, there unto duly authorized.  Dated: May 20, 2008 Jag Media Group, Inc.  By: /s/ Dean Elliott Dean Elliott President   5