<Page>

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

--------------------------------------------------------------------------------

                                   FORM 10-KSB
(Mark One)

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

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

                   For the fiscal year ended February 28, 2007

                        Commission File number: 0-26283


                       ATLANTIC SYNDICATION NETWORK, INC.
              -----------------------------------------------------
              (Exact name of Small Business Issuers in Its Charter)

                NEVADA                                     88-0325940
    -------------------------------                    ----------------
    (State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization)                 (Identification Number)


    5275 Jones Ave #106, Las Vegas, Nevada                  89146
   ----------------------------------------               ----------
   (Address of principal executive offices)               (Zip code)


                   (Issuer's Telephone Number) (702) 388-8800

         Securities registered under Section 12(b) of the Exchange Act:

   Title of Each Class             Name of Each Exchange on Which Registered
   -------------------             -----------------------------------------
         n/a                                           n/a

         Securities registered under Section 12(g) of the Exchange Act:

                          Common Stock, Par Value $.001
                          -----------------------------
                                (Title of Class)




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Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [X]

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

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure will be contained, to
the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [x]

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 issuer's revenues for its most recent fiscal year $16,033.

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates computed by reference to the price at which the common equity
was sold, or the average bid and asked price of such common equity, as of a
specified date within the past 60 days. (See definition of affiliate in Rule
12b-2 of the Exchange Act) .02

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of February 28, 2007 the Company
has (not including 1,630,000 lost and cancelled shares) 40,491,444 issued and
outstanding shares of Common Stock.

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




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                       ATLANTIC SYNDICATION NETWORK, INC.
                                   FORM 10-KSB
                                TABLE OF CONTENTS

NO.       TITLE                                                         PAGE NO.

                                     PART I

Item 1.   Description of Business .....................................       1
Item 2.   Description of Property .....................................       3
Item 3.   Legal Proceedings ...........................................       4
Item 4.   Submission of Matters to a Vote of Security Holders .........       4

                                     PART II

Item 5.   Market for Common Equity, Related Shareholder Matters
            and Small Business Issuer Purchases of Equity Securities ..       4
Item 6.   Management's Discussion and Analysis or Plan of Operation ...       7
Item 7.   Financial Statements ........................................     F-1
Item 8.   Changes in and Disagreements with Accountants on
            Accounting and Financial Disclosure .......................      13
Item 8A.  Controls and Procedures .....................................      13
Item 8B.  Other Information ...........................................      13

                                    PART III

Item 9.   Directors and Executive Officers of the Registrant;
            Compliance With Section 16(a) of Exchange Act .............      13
Item 10.  Executive Compensation ......................................      15
Item 11.  Security Ownership of Certain Beneficial Owners and
            Management and Related Stockholder Matters ................      16
Item 12.  Certain Relationships and Related Transactions ..............      17
Item 13.  Exhibits ....................................................      18
Item 14.  Principal Accountant Fees and Services ......................      18
          Signatures ..................................................      19


SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION. This Report contains
statements that constitute "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act, 1934, as amended, and Section 27A of
the Securities Act of 1933, as amended. The words "expect", "approximately",
"anticipate", "believe", "plan", "should", "scheduled", "will", "may",
"projected" "benefit" "upcoming" "strategic" "demonstrated" "quality", "added
value" and similar expressions and variations thereof are intended to identify
forward-looking statements. Such statements appear in a number of places in this
filing and include statements regarding the intent, belief or current
expectations of the Company, its directors or officers with respect to, among
other things, (a) trends affecting the financial condition or results of
operations of the Company, (b) the business and growth strategies of the
Company, and (c) the Company's objectives, planned or expected activities and
anticipated financial performance. The stockholders of the Company are cautioned
not to put undue reliance on such forward-looking statements. Such
forward-looking statements are not guarantees of future performance and involve
risks and uncertainties, and the actual results may differ materially from those
projected in this Report, for the reasons, among others, discussed in the
Section "Management's Discussion and Analysis or Plan of Operation" and "Risk
Factors". The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that arise after
the date hereof. Readers should carefully review the "Risk Factors" described in
other documents the Company files from time to time with the Securities and
Exchange Commission, including the Quarterly Reports on Form 10-QSB filed or to
be filed by the Company in Calendar years 2005 and 2006 and any Current Reports
on Form 8-K filed by Company.




<Page>

                                     PART I

ITEM 1.   DESCRIPTION OF BUSINESS.

Business Development

Atlantic Syndication Network, Inc. (the "Registrant") was originally
incorporated under the laws of the state of Nevada on September 25, 1978 as
Casino Consultants, Inc. Prior to September 1992 the Registrant was non-
operating. On September 15, 1992 the Registrant entered into an Agreement and
Plan of Reorganization with Ad Show Network, Inc., a Nevada corporation, whereby
the Registrant would acquire the assets of Ad Show Network, Inc., subject to
liabilities, for shares of common stock in the Registrant. On September 15,
1992, prior to completion of the asset purchase Casino Consultants, Inc. changed
its name to A.S. Network, Inc.

On October 14, 1992, Casino Consultants, Inc. (A.S.Network, Inc.) filed an
Amendment to its Articles of Incorporation changing the corporate name to Ad
Show Network, Inc. On August 17, 1995, Registrant filed an amendment to the
Articles of Incorporation changing the name to Atlantic Syndication Network,
Inc.

The asset purchase was accounted for as a tax free reorganization under Section
368(a)(i)(c) of the Internal Revenue Code of 1986, as amended. As a result, the
acquiring Company, Casino Consultants, Inc. purchased 100% of the net assets of
Ad Show Network (valued at $690,975) and transferred 4,500,000 shares of its
common stock in exchange for these assets. As this was an exempt isolated
transaction, the securities received in such a transfer shall not be registered
under federal or state securities laws.

From the time of the asset purchase on September 25, 1992 until the Registrant
changed its name on August 17, 1995 to Atlantic Syndication Network, Inc., the
Registrant's personnel and operations were engaged in the promotion and
advertising of local businesses and products in locations such as the U.S. Post
Offices through the use of automated computer kiosks. Successful development and
implementation of advertising operations occurred, however; the U.S. Postal
Service subsequently changed the U.S. Post Master and their contract personnel
and policy in dealing with third party contractors. In making these changes the
Postal Service caused the discontinuation of operations by the Registrant in
Post Offices throughout the Western U.S. The Registrant's financial resources
had been expended in developing this business and with the cessation of its
kiosk advertising in late 1995, the Registrant assigned the kiosk advertising
operations to a third party in 1996. By year-end February 1996, the Registrant
had an accumulated deficit in retained earnings of ($755,999). Corporate assets
of $210,711 were nearly all non-liquid consisting primarily of organizational
and development costs and fixed assets.

Capitalized liabilities of the Registrant, private placement proceeds, advances
from principal shareholders and profit sharing partnerships have been used to
redirect the Registrant's endeavors in the design, development, production and
distribution of multi-media, television production, commercials, infomercials
and commissioned projects.

                                       1



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Business

Registrant develops, produces, and distributes television programs and specific
projects created for domestic and international markets. The company targets
multi-media production with a focus on effective television programming, third
party commissioned projects and niche market television shows, corporate DVD's,
videos and infomercials.

Registrant benefits by using company-owned digital cameras and hi-end post
production editing equipment. The company's real-time editing and computer
graphic stations have the capability and conform to the necessary technology
required for the internet, multi-media and broadcast. The company has the
ability to produce its corporate projects at a significant discount compared to
the expense required to utilize outside production services for broadcast and or
multi-media.

Marketing and Distribution: The Company policy includes purchasing media so that
it controls the air time, secures its own advertisers and receives 100% of the
advertising income. The sale of programming in this manner provides more control
and in many situations the advertisers equally benefit because they are able to
control the time, day and targeted audience. With specific types of programming,
advertisers are also willing to pay more for their commercials to be broadcast
to that specific target audience. The company also participates and enters into
a barter or no-license-fee arrangement with various broadcast station so that it
can share in the income generated by the program from the sale of advertising
created by the station. Another option is for the Company to directly license
programming. Throughout the world there are emerging markets and the Company
will have the opportunity to purchase, barter, sell outright or license its
programming to the chain of television stations, cable channels and distribution
outlets.

After shows have aired they have the potential of retaining a residual value for
generating additional and future income. The Company-owned projects are
copyright protected and available for distribution via satellite, cable, and
broadcast release. Completed shows and series represent a long-term asset and
become inventory as a video library.

Library: The Company retains the proprietary rights associated with most
programming in its library, unless the rights are sold and/or granted to
licensees. These rights are generally held in perpetuity. The Company intends to
add product to its video library by producing new programming as well as
purchasing completed programming to distribute to television, cable and the
direct-to-video / DVD market and now via multi-media through the internet. A
library that includes proprietary programming can be licensed, re-licensed and
distributed over a period of time and provide a potential long term revenue
stream.

Pursue Co-Production Partnerships: The Company has been pursuing business
opportunities with co-financing partners for various projects, with the goal
that risks may be shared. The benefits will include financial, complementary
production and marketing skills and domestic or foreign distribution for
Registrant's projects. The company has currently established a number of
relationships that it anticipates will contribute to the company's projected
financial turnaround during the upcoming year.

                                       2



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The Stock Show Financial News Briefs is projected to be released in association
with other companies and their financial and business news shows on the
internet. Agreements are currently in negotiation with shows that are either in
production, airing on the web via webstreaming, planned for production and/or on
domestic broadcast or cable by these companies. There are a distribution options
currently being explored including the options to distribute this and other
shows via webstreaming over the internet through an ASNi portal projected as the
primary site. The company is also negotiating joint venture relationships with
specific companies as advertisers interested in the financial niche market.

Internet as an Alternative Distribution: The Company website is www.asni.tv. The
Company intends to benefit by alternative marketing and distribution utilizing
unique internet promotional campaigns for its upcoming projects. Specific
websites have been set aside and are available to utilize and support the
projected projects.

The Company has continued to spend a great deal of its effort, time and
available funds on research and development of multi-media projects. It has been
working with domestic and international companies to structure production of
shows and websites to be used in its projected project. The company believes
that its future projects and television shows will significantly benefit by the
company's multi-media development phase and implementation of this initial
distribution via webcasting and video streaming with many programs including
interactive multi-media. All forms of multi-media are now airing on the web as (
video-on-demand). Joint-venture projects are currently planned to include co-op
advertising supported by corporate visibility campaigns with other public
companies.

The Company utilized 4 independent contractors and employs 2 full time.

The Company does not have any patents or trademarks.

ITEM 2.   DESCRIPTION OF PROPERTY.

The Registrant is currently in the process of re-locating its executive and
production offices in Las Vegas, Nevada. The company has reduced its financial
responsibility and intends to house its headquarters, production and post
production studios in less expensive facilities. The primary equipment owned
includes digital and beta cameras for on and off-site and complete editing /
graphics and computer capability to fulfill all of ASNi production needs.

                                       3



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ITEM 3.   LEGAL PROCEEDINGS

The company is not involved in any legal proceedings and, to the best of our
knowledge, no such action by or against the company has been threatened. None of
the officers, directors, or beneficial owners of 5% or more of outstanding
securities are a party to proceedings adverse to us nor do any of the foregoing
individuals have a material interest adverse to us.

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

No matters were submitted to a vote of the company's stockholders during the
fourth quarter of the fiscal year ended February 28, 2007.


                                     PART II

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

(a)   MARKET INFORMATION: The Registrant's common stock is quoted in the NASDAQ
OTC Bulletin Board Electronic Quotation Service under the symbol ASNI. The
Registrant's common stock price at close of business on February 28,2007 was
$.02 per share.

PRICE RANGE: The following table is the range of the high and low bids for the
Registrant's common stock for each quarter within the last two fiscal years as
determined by over-the-counter market quotations. The source of this information
is OTCBB. These quotations reflect inter-dealer prices, without retail mark-up,
mark-down or commission and may not represent actual transactions.

                                         High        Low
                                         ----        ---
      Fiscal Yr Ending

      Feb 28, 2006
          First Quarter                  .095        .033
          Second Quarter                  .06        .022
          Third Quarter                  .035         .02
          Fourth Quarter                 .025         .01

      Fiscal Yr Ending

      Feb 28, 2007
          First Quarter                   .12         .01
          Second Quarter                  .06         .02
          Third Quarter                   .09         .02
          Fourth Quarter                  .04         .01


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(b)   HOLDERS: At February 28, 2007, the Registrant has approximately 149 common
stock shareholders. This excludes the number of beneficial owners whose shares
are held in brokerage accounts. With this in mind, the company believes that the
number of beneficial holders exceeds this amount.

(c)   DIVIDENDS: The Registrant has never paid a cash dividend. It is the
present policy of the Registrant to retain any extra profits to finance growth
and development of the business. Therefore, Registrant does not anticipate
paying cash dividends on its common stock in the foreseeable future.

(d)   SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS.

The following table sets forth as of February 28, 2007, compensation plans
(including individual compensation arrangements) under which equity securities
of the Company are authorized for issuance.

Equity Compensation Plan Information

<TABLE>
<CAPTION>
Plan Category           Number of securities       Weighted-average        Number of securities
                        to be issued upon          exercise price of       remaining available
                        exercise of outstanding    outstanding options,    to future issuance
                        options, warrants and      warrants and rights     under equity compen-
                        rights                                             sation plans (this
                                                                           excludes securities
                                                                           reflected in
                                                                           column (a)

                        ( a )                      ( b )                   ( c )
-----------------------------------------------------------------------------------------------
<S>                       <C>                        <C>                     <C>
Equity compen-            0                          0                       0
sation plans
approved by
security holders
-----------------------------------------------------------------------------------------------

Equity compensation
plans not approved
by security holders       325,000                    $.25                    1,240,000

-----------------------------------------------------------------------------------------------

Total                     325,000                    $.25                    1,240,000

-----------------------------------------------------------------------------------------------
</TABLE>

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Stock Option Plans

In May 1999, the Company adopted a stock warrant plan expiring February 28,
2009, providing for two previous members of the board of directors to receive
325,000 stock warrants at an exercise price of $.25 per share. No warrants have
been exercised to date.

On March 2, 2005, the Company adopted a 2005 Non-Qualified Stock & Stock Option
Plan for issuance of common stock and options to employees and consultants of
the company, and registered 3,100,000 shares underlying the Stock Plan on a Form
S-8 Registration Statement, 1,100,000 shares were issued out of this plan for
consulting, legal and service agreements during the corporate year. There are
1,240,000 shares available for issuance under this plan.

(d)   RECENT SALES OF UNREGISTERED SECURITIES: The Registrant had the following
stock issuance within the last quarter of the fiscal year as described below.
All other issuances during the fiscal year have been previously reported. All
such shares were sold by the officers and directors of the Registrant and no
underwriters were utilized. All shares were issued with a restrictive legend.

There were no shares issued by the company during the 4th quarter of fiscal year
end of 2007. All other issuances during the fiscal year have been previously
reported.

                          EXEMPTIONS FROM REGISTRATION:

With respect to the issuance of all of the common shares listed at Item 5(d),
such issuances were made in reliance on the private placement exemptions
provided by Section 4(2) of the Securities Act of 1933, as amended (the "Act"),
and/or SEC Regulation D, Rule 505 of the Act ("Rule 505") and Nevada Revised
Statutes Sections 78.211, 78.215, 73.3784, 78.3785 and 78.3791 ( collectively,
the "Nevada Statutes").

In each instance, each of the share purchasers had access to sufficient
information regarding the Registrant so as to make an informed investment
decision. More specifically, each purchaser signed a written subscription
agreement with respect to their financial status and investment sophistication
wherein they warranted and represented, among other things, the following:

      1.    That he/she had the ability to bear the economic risks of investing
            in the shares of the Registrant.

                                       6



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      2.    That he/she had sufficient knowledge in financial, business, or
            investment matters to evaluate the merits and risks of the
            investment.

      3.    That he/she had a certain net worth sufficient to meet the
            suitability standards of the Registrant.

      4.    That the Registrant has made available to him/her, and their counsel
            or advisors, the opportunity to ask questions and that he/she has
            been given access to any information, documents, financial
            statements, books and records relative to the Registrant and an
            investment in the shares of the Registrant.

ITEM 6.   Management's Discussion and Analysis or Plan of Operation

      The Registrant develops, produces, and distributes entertaining,
      educational, and informational television programming, commercials and
      infomercials. The Company endeavors to present programming on network,
      cable and public television, multi-media via internet video streaming as
      well as projected DVD and the direct-to-video market.

Proprietary Productions have included:
MASTERS OF THE MARTIAL ARTS

"Masters of the Martial Arts Starring Sho Kosugi" is a series that involves
interviews and demonstrations on location at different locales in the Orient
with grand masters in different disciplines of the martial arts. The host of the
series is Sho Kosugi, seven-times karate world champion, and star of numerous
martial arts films such as "Black Eagle" with Jean-Claude Van Damme, "Blind
Fury" with Rutgar Hauer, "Pray for Death", "Revenge of the Ninja", and others.
This series aired for two years on (ICN) International Channel Network. The show
is currently not airing or generating income.

NINJAEROBICS(tm)

An outgrowth and interest in martial arts including the physical and personal
benefits it offers has been the development of exercise classes which focus on
martial arts techniques and self-defense. ASNi, produced a series of these
exercise tapes with Sho Kosugi that combines aerobics and self-defense. As of
this date the Company has not secured a sponsor or joint venture partnership for
release or distribution of this series.

                                       7



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THE STOCK SHOW(tm)

This interview and news format show introduced public companies, their
management, products and services to the general public. The demand by small
companies to create visibility via corporate videos or interview shows offers
significant business potential for this weekly show. Publicity is essential for
today's companies as they compete for investment dollars with the more
established or blue chip companies. The nature of questions addressed during
interviews includes those that are targeted at the company's latest product or
services offered, its key management, company innovations and company goals. The
interview is produced as a corporate video for corporate use via DVD and
streaming on the web as well as a news segment for airing on television. It does
not promote or offer investment advice and specifically avoids discussing the
guest company stock performance and/or its offerings.

Business news presented includes press releases provided to the general public,
current events that are timely and relevant as reported in business magazines
such as the Wall Street Journal, Forbes, and others. The show which initially
aired in Southern California and Nevada is currently not airing or generating
income.

INTERVENTION SHATTERS DRUG AND ALCOHOL ABUSE

Recognizing the importance and benefit of reaching families in crisis due to
drug and alcohol abuse, ASNi created, developed, and produced this project,
focusing on Intervention, a proven path to treatment and recovery for the
disease of addiction. The educational infomercial, entitled, INTERVENTION
SHATTERS DRUG AND ALCOHOL ABUSE, had been previously scheduled for completion,
distribution, and airing but was delayed due to a number of setbacks. If the
issues can be resolved, promotion will include offering the DVD's, tapes, and
other products for sale via 1 and 2-minute infomercials and commercials airing
on television with an (800) number provided for call-ins. Other outlets for
distribution of this and other DVD's and ancillary products is planned through a
multi-media campaign and the website www.freedrugtest.org.

The company originally intended to make in-home drug tests available for
concerned parents along with the release of the DVD's and videotapes at a
discount from the retail market price. These in-home drug tests have become
increasingly popular with parents of teenagers since they are fast, accurate and
easy to use with results available within approximately 5 minutes in the privacy
of the home ( similar to a pregnancy test ). The tests provide the opportunity
to test simultaneously for single or multiple drug use of marijuana,
methamphetamines, cocaine, heroin and others at cut-off levels consistent with
the National Institute of Drug Abuse.

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One of the unexpected hurtles to overcome was the added expense to our cost of
sale when the FDA required that all tests ( even those with 99% accuracy - which
we planned to give away with the DVD to generate leads ) had to be returned to
the laboratory to confirm client test results.

Assuming a financially workable plan can be established and accommodate the
company needs and FDA guidelines, the plan will once again include providing a
one-time free drug test to concerned parents of teens. The company plans to
participate with the "Angel Heart Foundation" or another charity dealing with
drug and alcohol recovery issues. It is believed this association and exposure
will foster visibility and increase sales for this infomercial and videotape
series, related books and other products. Television, radio, and print
commercials are designed and projected to direct buyers and traffic to the
website - www.freedrugtest.org.

THE STOCK SHOW FINANCIAL NEWS BRIEFS is the company's latest project which is
currently in pre-production as a joint venture for release via the company
website and projected portal. The company has engaged international and investor
relations firms to participate by providing selected and featured guests to be
interviewed on the show. The weekly show is planned with specific segments that
focus on Primary and Featured Guests as well as segments that will address
current and international events.

The show is projected to begin airing over the internet to the investor and
brokerage community and/or those interested in public companies, their
management and latest updates.

Future distribution is projected to a television audience of approximately 20
MHH throughout the U.S. It is believed the unique talent, international guest
host and interviews will attract and facilitate visibility for the show. The
company is working to secure additional funding, negotiating agreements with
guests as well as securing national and international sponsorship contracts for
its featured guests. The show is projected to begin production for distribution
over the internet during the fall 2007. Projected income for the show will be
generated by producing joint venture client production and ASNi guest production
fees and advertisers.

REVENUES FROM OPERATIONS CAN BE DERIVED FROM:

Primary Income: Revenues are generated from (1) multi-media production (2) sale
of advertising and promotions to be shown during shows; (3) guests or company
production services and /or sponsors targeting the show audience and (4)
projected infomercials

                                       9



<Page>

Secondary Income is generated by: (1) third party consulting services pertaining
to project development; script, layout, production, editing and distribution of
the product (2) third party video production and post production services and
(3) multi-media DVD and videotape sales. Additional revenues may be derived from
the sale of related products advertised during the course of a show that
complement and add value to original products being sold on television.

Revenue for in-house production is recognized at time of distribution. Revenue
is recognized for outside third party production as work is completed.

RESULTS OF OPERATION.

During fiscal year-ending February 28,2007, the company incurred a loss of
($449,179) compared to a loss of ($439,437) for the prior year. The Company had
revenues of $16,033 for 2007 and $5,700 for 2006. Costs and expenses were
$394,368 for 2007 and $369,938 for 2006. Loss per share of $(0.014) for 2007 and
$(0.015) for 2006. The increase in loss per share is primarily caused by having
additional shares issued with lower operating expenses.

The Company's library of shows and developed projects are the principal assets
of the Registrant. The Registrant has produced and aired "Masters of the Martial
Arts" a weekly series that aired for two years on ICN (International Channel
Network). This and other shows developed and produced by the company are
currently not airing or generating income.

Registrant has sustained operations with limited revenues during a period that's
been devoted primarily to the securing of joint venture design, development, and
packaging of anticipated productions. The Registrant has created the primary
marketing tools for its projected projects. Management has developed
relationships with various media buyers and public relations firms to distribute
its shows and has secured vendors to supply various products to be used as added
value in the marketing of its programs, infomercials and television shows.

There was no Federal Tax expense for the year ended February 28,2007. The
Registrant has a tax loss benefit to carry-forward of approximately $3,700,000
which is available to offset future tax liabilities.

LIQUIDITY AND CAPITAL RESOURCES

For the fiscal year ended February 28,2007 cash flow came from the issuance of
common stock ($115,100) and from advances from shareholders ($219,646). Cash
expended on operating expenses was $324,019.

                                       10



<Page>

The Company has devoted significant time, effort and resources to obtain private
funding to fund the development, production and distribution of its projected
projects. Assuming that expenses were to remain at the current level, additional
cash will be required to complete and distribute projects in place. The Company
will require approximately $500,000 of additional operating capital during the
fiscal year ending February 28, 2008. It is projected that the funds required
will be secured via joint ventures or through a private placement as projected,
but it is uncertain whether the required funding can be secured under the most
favorable terms, if at all, due to the company's current financial position.

SUBSEQUENT EVENTS - None

RISK FACTORS

The Company's business is subject to numerous risk factors, not all of which can
be known or anticipated and any one of which could adversely impact the Company
or its financial condition. Risk Factors include:

Failure to License: Renew Licenses or Production Agreements. There can be no
assurance that any existing programs or programs in production by the Company
will be licensed, re-licensed for additional broadcast seasons or renewed for
production or, if so re-licensed or renewed, that the terms of the license
agreements, production or broadcast agreements will be as favorable to the
Company as the previous, existing or projected agreements.

Nature of the Entertainment Industry: The television, merchandising and direct-
to-video or DVD industries are highly speculative and historically have involved
a substantial degree of risk. The success of a television show, series or video
production depends upon unpredictable and changing factors such as audience
acceptance, which may bear little or no correlation to the Company's production
and other costs. Audience acceptance of the Company's products represents a
response not only to the artistic components of the products, but also to
promotion by the distributor, the availability of alternative forms of
entertainment and leisure time activities, general economic conditions and
public taste generally, and include other intangible factors, all of which
change rapidly and cannot be predicted with certainty. Therefore, there is a
substantial risk that some or all of the Company's projects will not be
commercially successful, resulting in costs not being recouped or anticipated
profits not being realized.

                                       11



<Page>

Competition: The creation, development, production and distribution of
television programming, together with the exploitation of the proprietary rights
related to such programming, is a highly competitive business. We compete with
producers, distributors, licensors and merchandisers, many of whom are larger
and have greater financial resources than we do. Although the number of outlets
available to producers has increased with the emergence of new broadcasters, the
number of time slots available to independent producers remains limited.
Moreover, because license fees in the United States have dropped substantially
recently, companies that do not rely on U. S. broadcast license fees to finance
the production of programming have achieved a competitive advantage. These
companies now serve as an additional source of competition for the limited slots
available to independent companies. As a result of these factors, the Company
cannot make assurances that we will be able to remain competitive. Niche market
programs such as Martial Arts that are currently popular may not sustain their
popularity and new programs may not become popular. Each program (or show) is an
individual artistic work, and consumer reaction will determine its commercial
success. We cannot assure stockholders that we will be able to continue to
create entertaining episodes for our existing programs or that we will be able
to create new programs that are appealing for broadcasting.

Dependence upon Key Personnel: Registrant's success depends to a significant
extent upon the expertise and services of the President and Chief Executive
Officer Kent Wyatt. The loss of services of Mr. Wyatt and/or other future key
management personnel could have an adverse effect on the Company business,
results of operations and financial condition. Registrant has not carried "key
man" life insurance on Company executives but the Board of Directors has
suggested that when funds are available management secure policies on key
company executives.



                                       12



<Page>

ITEM 7.   FINANCIAL STATEMENTS

                       ATLANTIC SYNDICATION NETWORK, INC.

                              Financial Statements

                           February 28, 2007 and 2006


TABLE OF CONTENTS

INDEPENDENT AUDITORS' REPORT .......................................    Page F-2


FINANCIAL STATEMENTS:

     Balance Sheets ................................................    Page F-3

     Statements of Operations ......................................    Page F-4

     Statements of Stockholders' Equity ............................    Page F-5

     Statements of Cash Flows ......................................    Page F-6

NOTES TO FINANCIAL STATEMENTS ......................................    Page F-7


                                      F-1



<Page>


Larry O'Donnell, CPA, PC
2228 South Fraser Street, Unit 1
Aurora, Colorado 80014

Report of Independent Registered Public Accounting Firm

Board of Directors
Atlantic Syndication Networks, Inc.
Las Vegas, Nevada

I have audited the accompanying balance sheets of Atlantic Syndication Networks,
Inc. as of February 28,2007 and 2006 and the related statements of operations,
stockholders' equity, and cash flows for the year then ended. These financial
statements are the responsibility of the Company's management. My responsibility
is to express an opinion on these financial statements based on my audits

I conducted my audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that I plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. I believe my audits provide reasonable basis
for my opinion.

In my opinion, the financial statements referred to above present fairly, in all
material respects, the consolidated financial position of Atlantic Syndication
Networks, Inc. as of February 28,2007 and 2006, and the results of its
operations and cash flows for the years then ended in conformity with generally
accepted accounting principles in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 8 to the
financial statements, the Company's significant operating losses raise
substantial doubt about its ability to continue as a going concern. Managements
plans regarding these matters are described in the notes to the financial
statements. The financial statements do not include any adjustments that might
result from the outcome of this uncertainty.


/s/ Larry O'Donnell, CPA PC
Aurora, Colorado
June 7, 2007

                                       F-2




<Page>
<TABLE>
<CAPTION>
<S>  <C>
                           ATLANTIC SYNDICATION NETWORK, INC.
                                     Balance Sheets
                                   As of Years Ending

                                         Assets

                                                           February 28     February 28
                                                               2007            2006
                                                           ------------    ------------
Current Assets
     Cash                                                  $         27    $        480
                                                           ------------    ------------
     Total Current Assets                                            27             480
                                                           ------------    ------------
Property and Equipment, Net                                                      25,478
                                                           ------------    ------------
Property and Equipment, Net                                                      25,478

Other Assets
    Project Development cost                                    452,855         452,855
    (Accumulated)Project Develop Cost                          (452,855)       (452,855)
    Prepaid rent / deposits                                                      11,350
                                                           ------------    ------------
 Net Other Assets                                                                11,350
                                                           ------------    ------------
                                                           $         27    $     37,308
                                                           ------------    ------------

                            Liability & Stockholder's Equity

Current Liabilities
     Accounts Payable                                      $     77,072    $     68,240
     Notes payable (current)                                     28,828          41,008
     Refundable Deposits
     Notes Due to Stockholder                                   214,744         267,798
     Accrued Rent Payable Stockholders                          173,716         193,016
     Accrued Compensation Due Stkholds                          444,638         272,638
                                                           ------------    ------------
Total Current Liabilities                                       938,998         842,700
                                                           ------------    ------------

Long-Term Liabilities
     Long Term debt (current net)                                20,850          19,890
                                                           ------------    ------------
     Long Term Liabilities                                       20,850          19,890

          Total Liabilities                                     959,848         862,598

Stockholders' Equity
  Preferred Stock, $.01 par value, authorized
  shares  500,000 issued and outstanding-none
  Common Stock, $.001 par value, authorized
  50,000,000 shares, issued and outstanding
  Feb 28 (2007) 40,491,444; Feb 28 (2006) 32,322,444             40,491          32,322
  Additional Paid-In Capital                                  2,434,942       2,128,471
  Accumulated (Deficit)                                      (3,435,254)     (2,986,075)
                                                           ------------    ------------
 Net Stockholders' Equity                                      (959,821)       (825,282)
                                                           ------------    ------------

 Total Liabilities and Stockholders' Equity                $         27    $     37,308
                                                           ============    ============


See Accompanying Notes

                                                F-3




<Page>

                          ATLANTIC SYNDICATION NETWORK, INC.
                                Statement of Operations
                                  For the Years Ended


                                                        February 28     February 28
                                                            2007            2006
                                                       -------------   -------------

Net Revenues                                           $      16,033   $       5,700
                                                       -------------   -------------

Costs and expenses
     Amortization                                      $               $
     Depreciation                                             25,478           7,556
     General/Administrative                                  368,890         362,382
                                                       -------------   -------------
Total Operating Expenses                                     394,368         369,938
                                                       -------------   -------------
Operating (Loss)                                            (378,335)       (364,238)

Interest expense                                             (70,844)         75,199

Other (expense) income                                             -               -
                                                       -------------   -------------

(Loss) Before Income Taxes                                  (449,179)       (439,437)

Income Tax Provision (benefit)                                     -               -

Net (Loss)                                             $    (449,179)  $    (439,437)
                                                       =============   =============

Net (Loss) Per Share of
  Common Stock                                         $      (0.014)  $      (0.015)
                                                       =============   =============
Weighted Average Shares
  Outstanding During the Period                           40,491,345      28,838,181
                                                       =============   =============


SEE ACCOMPANYING NOTES


                                          F-4




<Page>

                                   ATLANTIC SYNDICATION NETWORK, INC.
                                   Statements of Stockholders' Equity
                                For the Years Ended Feb 28, 2006 and 2005


                                          Additional
                            Common           Stock         Paid-In-      Accumulated         Total
                            Shares          Amount         Capital         Deficit          Equity
                            ------          ------         -------         -------          ------

Balance as of
February 28, 2005          27,522,444     $    27,522    $1,845,271     $(2,546,638)     $   (673,845)

Sale-unregistered
Stock                       2,600,000           2,600       153,400                           156,000

Stock-services
rendered                    1,800,000           1,800       106,200                           108,000

Stock issued for
Debt Conversion               400,000             400        23,600                            24,000

Net (loss) for
year                                                                       ($439,437)       ($439,437)
                           ----------     -----------    ----------      -----------     ------------
Balance as of
February 28, 2006          32,322,444     $    32,322    $2,128,471      ($2,986,075)    $   (825,282)

Sale-unregistered
 Stock                      1,919,000           1,919       113,221                           115,140

Stock-services
rendered                    2,250,000           2,250        77,250                            79,500

Stock issued for
  Debt Conversion           4,000,000           4,000       116,000                           120,000

Net (loss) for
 year                                                                       (449,179)        (449,179)
                           ----------     -----------    ----------      -----------     ------------

Balance as of
February 28, 2007         $40,491,444     $    40,491    $2,434,942      $(3,435,254)    $   (959,821)


                                                  F-5




<Page>

                                ATLANTIC SYNDICATION NETWORK, INC.
                                     Statements of Cash Flows
                                       For the Years Ended


                                                                   February 28      February 28
CASH FLOWS FROM OPERATING ACTIVITIES                                   2007             2006
                                                                  -------------    -------------

   Net Income (Loss)                                              $    (449,179)   $    (439,437)
    Adjustments to reconcile Net Income to Cash
    provided by (used in) Operating Activities
      Depreciation / Amortization                                        25,478            7,556
      Stock issued for services in lieu of cash                          79,500          108,000
      Other changes in operating assets / liabilites
      Decrease (Increase) in deposits                                    11,350
      Decrease (Increase) in prepaid expenses                                             12,550
      Increase(Decrease) in Accounts Payable                              8,832           27,455
      Increase(Decrease) in Refundable Deposits                                          (10,000)
                                                                  -------------    -------------
        Total Adjustments                                               125,160          145,561
                                                                  -------------    -------------
Net Cash Provided (Used)
by operating Activities                                                (324,019)        (293,876)
                                                                  -------------    -------------
CASH FLOWS FROM INVESTING ACTIVITIES

Net Cash (Used) by Investing Activities                                       -                -
                                                                  -------------    -------------
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) Notes Payable                                       (11,220)          16,515
Increase (Decrease) Funds advanced
by Shareholders                                                         219,646          121,841

Funds Raised from Stock Issued                                          114,140          156,000
                                                                  -------------    -------------
Net Cash Provided (Used)
by Financing Activities                                                 323,566          256,356
                                                                  -------------    -------------
Increase(Decrease) in Cash
& Cash Equivalents                                                         (453)             480

Cash at Beginning of Year                                                   480                -
                                                                  -------------    -------------
Cash at End of Year                                                          27              480
                                                                  -------------    -------------
SUPPLEMENTARY CASH FLOW INFORMATION
   Interest Paid                                                         70,844           75,199
                                                                  -------------    -------------
Schedule of noncash investing and financing transactions:

Debt converted to stock                                                 120,000           24,000


See accompanying Notes

                                              F-6
</TABLE>




<Page>

ATLANTIC SYNDICATION NETWORK, INC.
Notes to Financial Statements

NOTE l - Business Activity

The Company incorporated September 15, 1978 under the laws of the state of
Nevada, under the name of Casino Consultants, Inc. On September 14, 1992, the
Company was renamed to A.S. Network, Inc. and then immediately renamed to Ad
Show Network, Inc. It was later renamed to Atlantic Syndication Network, Inc. on
May 25, 1995.

The Company concentrates on the development, production, and distribution of
niche-market television programs, commercials, infomercials, and ancillary
products designed for domestic and international markets.

The Company is authorized to issue up to 50,000,000 shares of common stock, par
value $0.001 and 500,000 shares of preferred stock, par value $0.01.

The Company develops and produces commercials, infomercials, business and
entertaining shows for distribution via multi-media, the internet, radio and
television. It's focus has been niche market and specialty television shows. For
example, previous shows and projects include, "The Stock Show," which highlights
public companies, their product or service, and their key management. Another
video series entitled "Intervention" deals with drug and alcohol abuse and
targets concerned families of teen abusers. "Masters of The Martial Arts"
featuring Sho Kosugi highlights prominent masters from around the world and
targets an audience interested in the art of self defense

The Company has continued to sustain operating losses. Management projects and
intends to be fully operational reporting profits during this fiscal year with
the existing projects currently outlined and in place. Management is currently
negotiating to secure additional funding through joint ventures and/or intends
to secure funds through a private placement.

Note 2 - Summary of Significant Accounting Policies

Basis of Presentation

Atlantic Syndication Network, Inc. (ASNi), prepares its books and records on the
accrual basis for financial reporting and the cash basis for income taxes. The
accompanying financial statements represent the transactions for the fiscal
years ending February 28, 2007 and February 28, 2006.

Property and Equipment and Intangible Assets

Property and equipment are valued at cost. Depreciation is provided by use of
the straight-line method over the useful lives of the assets. Useful lives of
the respective assets are five years. Initial organization costs and development
costs are fully amortized. Fully depreciated assets are written off the year
they are fully depreciated or amortized.

Upon the sale or retirement of property and equipment the related cost and
accumulated depreciation are eliminated from the accounts and the resulting gain
or loss is recorded. Repairs and maintenance expenditures that do not extend the
useful lives are included in expense during the period they are incurred.

                                       F-7



<Page>

Project Development Costs

The Company determines the cost outlays incurred on project development costs by
assigning all direct costs and a portion of indirect costs to the projects
worked on. It then capitalizes those costs incurred in projects determined to
have an extended useful life beyond the current year.

Development and production of shows may or may not be used more than once. This
in large measure is because of the changes in television programming and
audience interest as well as technological changes that occur in the
communication and media fields. Consequently, the Company has opted to write off
the costs of developing and producing show materials used by the Company over
time instead of by use. The Company presently amortizes such costs over five
years on a straight line basis.

The Company evaluates the status of project development costs. If the Company
determines the net book value of product development costs as capitalized as
"other assets" on the balance sheet is worth less than what is reported on the
financial statements, it will write the asset down.

Use of Accounting Estimates

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

Impairment of Long-Lived Assets

It is the company's policy to periodically evaluate the economic recoverability
of all of its long-lived assets. In accordance with that policy, when the
Company determines that an asset has been impaired, it recognizes the loss on
the basis of the discounted future cash flows expected from the asset.

Fair Value of Financial Instruments

The methods and assumptions used to estimate the fair value of each class of
financial instrument are as follows: Cash and cash equivalents, receivables,
notes payable, accounts payable, refundable deposits, due to stockholder:

The carrying amounts approximate fair value because of the short maturity of
these instruments.

Long-term Liabilities:

The carrying amounts of the Company's borrowing under its short and long-term,
convertible notes and revolving credit card agreements approximate fair value
because the interest rates are either fixed or vary based on floating rates
identified by reference to market rates. The carrying amounts and fair values of
long-term debt are approximated to be one and the same at February 28, 2007 and
February 29, 2006 respectively.

Concentrations

The Company revenues in 2007 and 2006 came from four customers.

                                      F-8



<Page>

Revenue Recognition

Revenue is recognized from sales other than long-term contracts when a product
is shipped, a show airs on television and consulting and other services are
completed. Revenue on long-term contracts is accounted for principally by the
percentage of completion, or at the completion of contractual billing when
milestones are possible. At February 28, 2007 and February 28, 2006 there are no
long-term contracts requiring revenue recognition.

Advertising

The Company expenses advertising as it occurs. The Company incurred no
advertising expense for fiscal years ended February 28, 2007 and February 28,
2006.

INCOME TAXES

The Company has adopted the provisions of statements of Financial Accounting
Standards No. 109, "Accounting for Income Taxes." which incorporates the use of
the asset and liability approach of accounting for income taxes. The assets and
liability approach requires the recognition of deferred tax assets and liability
for the expected future consequences of temporary differences between the
financial reporting basis and tax basis of assets and liabilities.

Statement of Cash Flow

For purpose of the statement of cash flows, the Company considers highly liquid
investments with a maturity of six months or less to be cash equivilants.

Net Income (Loss) Per Share

Basic net income or loss per share is computed by dividing net income or loss by
the weighted average number of common shares outstanding.

Recently Issued Accounting Pronouncements

In February 2006, the FASB issued SFAS No. 155. This Statement amends FASB
Statements No. 133, Accounting for Derivative Instruments and Hedging
Activities, and No. 140, Accounting for Transfers and Servicing of Financial
Assets and Extinguishments of Liabilities. This Statement resolves issues
addressed in Statement 133 Implementation Issue No. D1, "Application of
Statement 133 to Beneficial Interests in Securitized Financial Assets." The
Company does not expect application of SFAS No. 155 to have a material affect on
its financial statements.

In March 2006, the FASB issued SFAS No. 156. This Statement amends FASB
Statement No. 140, Accounting for Transfers and Servicing of Financial Assets
and Extinguishments of Liabilities, with respect to the accounting for
separately recognized servicing assets and servicing liabilities. This Statement
is effective as of the beginning of its first fiscal year that begins after
September 15, 2006. An entity should apply the requirements for recognition and
initial measurement of servicing assets and servicing liabilities prospectively
to all transactions after the effective date of this Statement. The Company does
not expect application of SFAS No. 156 to have a material affect on its
financial statements.

                                      F-9



<Page>

In June 2006, the FASB issued Interpretation No. 48, Accounting for Uncertainty
in Income Taxes - An Interpretation of FASB Statement No. 109, (FIN 48). FIN 48
clarifies the accounting for uncertainty in income taxes recognized in an
enterprise's financial statements in accordance with FASB Statement No. 109,
Accounting for Income Taxes. FIN 48 also prescribes a recognition threshold and
measurement attribute for the financial statement recognition and measurement of
a tax position taken or expected to be taken in a tax return that results in a
tax benefit. Additionally, FIN 48 provides guidance on de-recognition, income
statement classification of interest and penalties, accounting in interim
periods, disclosure, and transition. This interpretation is effective for the
Company for its fiscal year ending June 30, 2008. The Company has not yet
evaluated the effect that the application of FIN 48 may have, if any, on its
future results of operations and financial condition.

In September 2006 the FASB issued SFAS No. 157, "Fair Value Measurements". SFAS
No. 157 defines fair value, establishes a framework for measuring fair value in
accordance with generally accepted accounting principles and expands fair value
disclosure requirements. SFAS No. 157 applies whenever another accounting
standard requires (or permits) assets or liabilities to be measured at fair
value, but does not expand the use of fair value to new circumstances. SFAS No.
157 is effective beginning in 2008. The Company has not yet determined the
effect SFAS No. 157 will have on its financial statements.

In September 2006 the FASB issued SFAS No. 158, "Employers' Accounting for
Defined Benefit Pension and Other Post Retirement Plans". SFAS No. 158 requires
the Company to recognize the funded status of its post retirement plans on the
balance sheet and recognize as a component of accumulated other comprehensive
income the gains and losses, prior service costs or credits that occur during
the financial year but are not recognized as components of the Company's pension
costs This Statement is effective as of the beginning of its first fiscal year
that begins after December 15, 2008. The Company does not expect application of
SFAS No. 156 to have a material affect on its financial statements.

In February 2007 the FASB issued SFAS No. 159, "The Fair Value Option for
Financial Assets and Financial Liabilities - Including an amendment of FASB
Statement No. 115". SFAS No. 159 permits entities to choose to measure many
financial instruments and certain other items at fair value. The amendment to
SFAS No. 115 applies to all entities with investments in available- for-sale or
trading securities. The statement is effective for fiscal years beginning after
November 15, 2007. The Company has not yet determined the effect SFAS No. 159
will have on its financial statements.

NOTE 3 - Property and Equipment

Property and equipment consisted of the following at,

                                             February 28       February 28
                                                 2006              2005

Equipment                                    $    48,661       $    48,661
Software                                          39,553            39,553
Leasehold Improvements                                              42,380
                                             -----------       -----------

Total Property and Equipment                 $    88,214       $   130,594
(Less) Accumulated Depreciation                  (88,214)         (105,116)
                                             -----------       -----------
Total Property and Equipment, Net            $                 $    25,478


                                      F-10



<Page>

NOTE 4 - Term Debt

Term Debt consisted of the following at,

                                             February 28       February 28
                                                 2007              2006

Loan Payable                                 $    14,222       $   14,222

Bridge loan secured by promissory note
due and payable interest 10%                      14,606           26,786

Convertible Notes Payable
Under a private placement issue, Stock
is sold along with convertible notes.
Since these unsecured notes can be
converted to stock, they are reported
as long-term debt.                                20,850            19,890
                                             -----------       -----------

Total Notes Payable                          $    49,678       $    60,898

(Less) Current Portion                           (28,828)          (41,008)
                                             -----------       -----------

Total Long-Term Debt                         $    20,850       $    19,890
                                             -----------       -----------

Scheduled future maturities of notes payable at February 28,2007 are as follows:

         2007              $ 28,828
         2008                     -
         2009                     -
         2010                     -
         2011 & after      $ 20,850

NOTE 5 - Related Party Transactions

                                             February 28       February 28
                                                2007               2006

Monies have been advanced to the Company
by the Company's principal shareholder.
   The amount due is:                        $   833,898       $   733,452


                                      F-11



<Page>

During the years ended February 28,2007 and February 28,2006 the Company accrued
rent and interest to its principal stockholder of $109,000 and $142,000
respectively.

The company rented its facilities at 6125 Edna, Las Vegas, Nevada on a month to
month tenancy from its principal stockholder. The arrangement terminated in
January, 2007. The Company recognized rent expense of $41,950 and $76,200 for
the years ended February 28, 2007 and 2006, respectively.

NOTE 6 - Common Stock

Four convertible notes totaling $9,600 plus interest of $11,250 for a total of
$20,85080 remain from a private placement previously issued. These notes bear
interest at 10%.

As of February 28,2007 there are 40,491,444 adjusted shares issued and
outstanding. Of this amount, 8,490,767 shares are free trading whereas,
33,630,677 shares are still restricted subject to Rule 144 of the 1933
Securities and Exchange Act.

An existing stock warrant plan, expiring February 28,2009, provides for two
previous members of the Board of Directors to receive a total of 325,000 stock
warrants at $.25 per share. No warrants have been exercised.

In 2005, the company issued a stock compensation plan which provides for certain
employees and professional services to receive a total of 3,100,000 shares of
common stock. As of February 28,2007, 1,240,000 shares remain available.

NOTE 7- Recapitalization of Equity

As of February 29, 1996 the Company had ceased its activities and operations
with the United States Postal Service and the Kiosk Program. Management,
desiring to measure the results and activity of what it has strived to do since
February 29, 1996, has recapitalized its equity accounts retroactively with an
effective date as of February 28, 1999. Accordingly, the entire accumulated
deficit reported at February 29,1996 of $755,999 has been reclassified against
Paid in Capital and eliminated the accumulated deficit reported as of February
29, 1996.


NOTE 9 -  Going Concern

The Company has suffered significant losses the past two years. Unless
significant additional cash flows come into the Company, or a major reduction in
operating losses occur, the Company could be in jeopardy of continuing
operations. The Company seeks to generate needed funds to continue on going
operations from joint ventures, the sale of Company stock through a Private
Placement and/or advances from the primary shareholder.

                                      F-12



<Page>

NOTE 10 - INCOME TAXES
                                             February 28       February 28
                                                2006               2005

The provision for income taxes consisted of:

Current income taxes
     Federal                                 $         -       $         -
     State (Nevada)                          $         -       $         -

Total                                        $         -       $         -

The provision for income taxes is different from that which would be obtained by
applying the statutory Federal income tax rate to income (loss) before income
taxes. Income taxes are reported on a cash basis. In addition, no tax deduction
is claimed for monies accrued and due the principal shareholders and officers
until such amounts are paid in cash or cash equivalents. The items causing
timing differences are:

                                             February 28       February 28
                                                2007               2006

Tax expense (benefit) at
     U.S. statuatory rate                    $  (145,000)      $  (145,000)
State income taxes, net of
     Federal benefit (Nevada)
Valuation allowance                              100,000           100,000
Due to stockholders                               45,000            45,000

Total                                                  -                 -

The tax effects of temporary differences that give rise to significant portions
of the deferred tax assets and deferred tax liabilities at:

                                             February 28       February 28
                                                2007               2006

Deferred tax assets:
    Net operating loss carryforward          $ 1,340,000       $ 1,195,000

Total gross deferred tax assets              $ 1,340,000       $ 1,195,000

(Less) valuation allowance                     ($950,000)        ($950,000)

Net deferred tax assets                          390,000           245,000

Deferred tax liabilities
    Payable to stockholder                      (390,000)         (245,000)

Total gross deferred tax liabilities            (390,000)         (245,000)

Net deferred tax                             $ --- 0 ---       $ --- 0 ---

There were no payments made for income taxes in fiscal years ending the last
day of February 28, 2007 and 2006 respectively.

As of February 29, 2007, the Company has available for income tax purposes
approximately $3,700,000 in federal net operating loss carry forwards which may
be used to offset future taxable income.  These loss carry forwards begin to
expire in year 2008.  Should the Company undergo an ownership change as defined
in Section 382 of the Internal Revenue Code, the Company's tax net operating
loss carry forwards generated prior to the ownership change will be subject to
an annual limitation which could reduce, eliminate, or defer the utilization of
these losses.

                                      F-13




<Page>

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

None.

ITEM 8A.  CONTROLS AND PROCEDURES

Evaluation of Disclosure and Controls and Procedures. As of the end of the
period covered by this Annual Report, we conducted an evaluation, under the
supervision and with the participation of our chief executive officer and chief
financial officer, of our disclosure controls and procedures (as defined in
Rules 13a-15(e) or 15d-15(e)of the Exchange Act). Based on this evaluation, our
chief executive officer and chief financial officer concluded that our
disclosure controls and procedures are effective to ensure that information
required to be disclosed by us in reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission rules and forms.
Changes in Internal Controls Over Financial Reporting. There was no change in
our internal controls, which are included within disclosure controls and
procedures, during our most recently completed fiscal quarter that has
materially affected, or is reasonably likely to materially affect, our internal
controls.

ITEM 8B.  OTHER INFORMATION

None.

                                    PART III

ITEM 9.   DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT; COMPLIANCE WITH
          SECTION 16 (a) OF THE EXCHANGE ACT


NAME                AGE           POSITION/OFFICE           TERM    SERVED SINCE

Kent G. Wyatt Sr.    67     Director, President, CEO        1 yr.       9/92
Sarah E. Wyatt       67     Director, Corporate Secretary   1 yr.       9/92
Glen Schlosser       59     Director, Treasurer             1 yr.       4/02
Michael Edwards      55     Director                        1 yr.       4/02

KENT G. WYATT, SR. - Mr. Wyatt CEO and President of Atlantic Syndication
Network, Inc., has over 25 years of experience in business management and
television production. He acts as Executive Producer and Producer of the various
projects undertaken by the Company, sharing creative control and final approval
of production at various stages with each participating Producer and Director.

                                       13



<Page>

Mr. Wyatt attended the University of Colorado where he majored in business
administration. He has been a California real estate broker and investor for
over 25 years. During this period, he acted as a business consultant to hundreds
of small businesses and authored numerous books dealing with sales and marketing
including books on how to start and manage your own business.

He spearheaded ASNi's entry into advertising and multimedia communication with
Point-of-Sale advertising Kiosks which were placed in the United States Post
Offices and other high profile locations. He was the Executive Producer and
Producer of shows such as "This is San Francisco", which featured many
entertainment and celebrities such as Rod Stewart, Trini Lopez, Alice Cooper,
Beach Boys, Pointer Sisters, Dr. John and outstanding professional guests such
as Melvin Belli. Mr. Wyatt has produced weekly series and television specials,
and sold, written and produced commercials for advertising clients such as: The
U.S. Postal Service, New York Life Insurance, Thrifty Car Rental, Prudential
Life Insurance, Godfather's Pizza Chain and others.

GLEN SCHLOSSER - Mr. Schlosser, Treasurer and Director, brings 30 years of
combined experience in finance, accounting, and business to the Registrant. He
served as Vice President of Finance and Accounting/CFO at Virgin Mountains
Enterprises for 4 years as a casino general manager. His experience also
includes 8 years as a chief financial officer.

As a financial consultant to Station Casinos, Inc. he organized the Year-end
Audit Work Papers and standardized the General Ledgers within the Station's
organizations. He designed and implemented month-end Management Financial
Reports to encompass the various Station Casino Properties.

As Controller/Accounting Manager for the Stations Casino Division, he prepared
the Annual Budgets as well as the Federal and State Tax Returns for the Parent
Company and 17 subsidiaries.

Mr. Schlosser has a BS in Accounting and Business Administration from Youngstown
State University.

SARAH E. WYATT - Ms. Wyatt has extensive business and management experience and
is well qualified as Registrants Administrative Officer, Corporate Secretary and
Director. She manages client relations and coordinates production personnel and
studio facilities. She is Co-Producer and senior writer of the Intervention Show
videotapes. She is Co-Producer of the show, "Masters of the Martial Arts
starring Sho Kosugi" in addition to writing and developing the narration for the
weekly series.

She supervised the commercial advertising production for Ad Show Network, the
predecessor to ASNI. She owned and operated a wholesale art business for the
design trade, owned and managed commercial properties for many years and
maintained a California real estate license for over 20 years. She has a degree
in French from The Union Institute.

Kent and Sarah Wyatt are married.

                                       14



<Page>

MICHAEL EDWARDS - Mr. Edwards is a member of ASNi's Board Of Directors. As
president of Premier Attractions in excess of 10 years, a Hollywood independent
film and television production company, his experience includes many aspects of
production, domestic and international distribution, syndication, marketing,
advertising and writing.

As a veteran Television and Film Director and Member of The Directors Guild of
America (DGA), Mr. Edwards brings his talent and credibility to ASNi productions
in various areas from planning and writing of projects to program production and
distribution.

His financial background covers international banking, import-export trade,
asset management, and international management. With graduate degrees in
Psychology and Communications (MSc.) he provides unique talent and skills for
the overall growth of the Company.

The Company does not have an audit committee financial expert as its business is
still developing.

Section 16(a) Beneficial Ownership Reporting Compliance

To our knowledge, based solely on review of Forms 3 and 4 and amendments thereto
and Forms 5 and amendments thereto and any other written representations
furnished to us during the fiscal year ended February 28, 2007 our officers,
directors, and greater than ten percent beneficial owners complied with all
Section 16(a) filing requirements applicable to them.

Code of Ethics

The company has not structured or adopted a code of ethics.

ITEM 10.  EXECUTIVE COMPENSATION

SUMMARY COMPENSATION TABLE LONG TERM

<TABLE>
<CAPTION>
<S>                                                                           <C>

                             Annual Compensation                   Awards             Payouts

Name-Principal    Yr    Compensation    Bonus     Other     Restricted  Options        LTIP
  POSITION                                       Payable       Stock     Award    SARs(Layouts($)

KENT G.WYATT     2007    $120,000       N/A        N/A          N/A       N/A           N/A
CEO/Pres.        2006     $70,600 *     N/A        N/A          N/A       N/A           N/A

SARAH E WYATT    2007     $45,000       N/A        N/A          N/A       N/A           N/A
Corp.Sec.        2006     $40,600 **    N/A        N/A          N/A       N/A           N/A
</TABLE>

* Although the Board approved compensation of $120,000 for Mr. Wyatt and $60,000
respectively for Ms. Wyatt for the fiscal year, each of the parties agreed to
waive part and accrue compensation.

* Mr. Wyatt has agreed to accept $120,000 as compensation due. 10,000 restricted
shares were granted for $600.00 for B.O.D. compensation.

** Ms. Wyatt has agreed to accept $45,000. as compensation due. 10,000
restricted shares were granted for $600.00 for B.O.D. compensation.

                                       15



<Page>

Employment Contracts: Other than the annual compensation established each year
by the Board of Directors for the CEO/ President and Corporate Secretary, there
are no employment contracts in place.

There are no SAR's.

Long Term Incentive Plan ("LTIP") Awards - There are no long-term incentive
plans in place. The Board has authorized management of the Registrant to
investigate various insurance programs and to use its discretion to secure a
program; which, if purchased, would also provide for management succession and
continuation of Registrant operations.

Compensation of Directors: For the fiscal year ended 2007 all directors are to
be issued 10,000 shares of restricted common stock valued at $.06 for services
rendered. There is no cash compensation for directors other than expenses
directly associated with Director Meetings. Two of the previous Directors were
granted a total of 325,000 warrants at $.25 on May 4, 1999. The warrants were
granted for director services and commitments to advise the Registrant. The
warrants expire on February 28,2009. No warrants have been exercised to date.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
          RELATED STOCKHOLDER MATTERS

      The following table sets forth information as to the shares of common
stock owned as of February 28, 2007.

      1.    Each person who beneficially owns, so far as the Registrant has been
able to ascertain, more than 5% of the 40,491,444 actual outstanding shares of
the Registrant. An additional 1,630,000 lost/ cancelled and replaced shares
remain outstanding on the books.

      2.    Each director.

      3.    Each of the officers named in the summary compensation table.

      4.    All of the directors and officers as a group. Unless otherwise
indicated in the footnotes below are subject to community property laws where
applicable, the persons as to whom information is given has sole investment
power over the shares of common stock.

Unless otherwise noted, all addresses are c/o Atlantic Syndication Network, Inc.
5275 Jones Ave, Suite 106, Las Vegas, Nevada 89146.

                                       16



<Page>

TITLE OF       PRINCIPAL AND/OR         AMOUNT AND NATURE OF       PERCENT
OF CLASS       BENEFICIAL OWNER           BENEFICIAL OWNER         OF CLASS

 Common        Kent G. Wyatt               12,060,000 (1)            29.78 %
 Common        Sarah E. Wyatt               6,040,000 (1A)           14.92 %
 Common        K & S Wyatt (J/T)            1,243,000 (1)(1A)        03.07 %
 Common        Glen Schlosser                 445,000 (2)             1.10 %
 Common        Michael Edwards.               210,000 (3)            .0052 %
               Officers and Directors      19,998,000(1)(1A)       48.8752 %
                As a group

(1)   Kent Wyatt is President / CEO and beneficial owner of 12,060,000 shares
listed plus shares 1,243,000 shares held in joint-tenancy (J/T) with Sarah
Wyatt, and as trustee, 400,000 shares held in-trust for Kent Wyatt Jr. and Lisa
Wyatt. Further, since Kent and Sarah Wyatt are married, Mr. Wyatt may be deemed
the indirect beneficial owner of 6,040,000 shares owned by Ms. Wyatt.

(1A)  Sarah Wyatt is Secretary, Director and beneficial owner of 6,040,000
shares listed plus 1,243,000 shares held in joint-tenancy (J/T) with President /
CEO and husband Kent Wyatt. Further, since Kent and Sarah Wyatt are married, Ms.
Wyatt may be deemed the indirect beneficial owner of 12,060,000 shares owned by
Mr. Wyatt.

(2)   Glen Schlosser, Treasurer, Director and beneficial owner of 435,000 shares
at fiscal year-end.

(3)   Michael Edwards, Director and beneficial owner of 210,000 shares at fiscal
year-end.

(4)   Percentages are based on the adjusted 40,491,444 actual shares outstanding
at February 28, 2007. An additional 1,630,000 shares which were lost/cancelled
and replaced remain outstanding on the corporate books.

ITEM 12.  CERTAIN RELATIONSHIPS and RELATED TRANSACTIONS

There have been no material transactions in the past two years or proposed
transactions to which the Company has been or proposes to be a party in which
any officer, director, nominee for officer or director, or security holder of
more than 5% of the Company's outstanding securities is involved other than the
corporate offices and production facility the company previously rented under a
standard commercial property month to month lease from Kent Wyatt Sr., President
and CEO and a majority stockholder. The agreement was cancelled November 2007.

                                       17



<Page>

ITEM 13.  EXHIBIT LIST

See most recent FORM 10SB/A filing for Articles of Incorporation and By-Laws
Certificate Amending Articles of Ad Show Network, Inc. to Atlantic Syndication
Network, Inc. Articles of Incorporation ( Casino Consultants, Inc.) By-Laws of
Registrant, all Material Contracts and Exhibits.

10.1      2005 Non-Qualified Stock and Stock Option Plan*
10.2      Lease for property with Kent Wyatt**
31.1      Certification of Chief Executive Officer        Filed herewith
31.2      Certification of Chief Financial Officer        Filed herewith
32.1      Section 1350 Certifications Filed herewith

* Filed with Form S-8 on March 11, 2005.
** Filed with prior 10K

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

General. Larry O'Donnell, CPA, P.C. (O'Donnell) is the Company's principal
auditing accountant firm. The Company's Board of Director's is responsible for
all pre-approval policies and procedures for auditors and has considered whether
the provision of audit services is compatible with maintaining O'Donnell's
independence.

Audit Fees: Mr. O'Donnell billed an aggregate of $7,000 and $7,000 for audit of
the registrant's annual financial statements and review of financial statements
in the registrants Form 10-QSB for the last two fiscal years ended February 28,
2006 and February 28, 2007.

Audit-Related Fees: None

Tax Fees: NA

All Other Fees: NA

                                       18



<Page>

                                   SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant Has
aused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                       Atlantic Syndication Network, Inc.


Dated June 6, 2007
                                       By: /s/ Kent G. Wyatt, Sr.
                                           -------------------------
                                           Kent G. Wyatt, Sr.
                                           President and Chief Executive Officer

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

Signature                          Title                         Date

By: /s/ Kent G. Wyatt, Sr.
    -------------------------
    Kent G. Wyatt, Sr.             President/CEO                 June 6, 2007
                                   Director

By: /s/ Glenn Schlosser
    -------------------------
    Glenn Schlosser                Treasurer  CFO, Principal
                                   CFO Principal Accounting      June 6, 2007
                                   Officer / Director

By: /s/ Sarah Wyatt
    -------------------------
    Sarah Wyatt                    Corporate Secretary           June 6, 2007
                                   Director

By: /s/ Michael Edwards
    -------------------------
    Michael Edwards                Director                      June 6, 2007


                                       19