---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-K

(Mark One)

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

For the fiscal year ended March 31, 2011

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

For the transition period from [ ] to [ ]

Commission file number 000-54210

CONVENIENCE TV INC.(Exact
name of registrant as specified in its charter)

|Nevada                                                               | 30-0518293                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (I.R.S. Employer Identification No.)
|                                                                     |                                     
|                                                                     |                                     
|248 Main Street, Venice, CA                                          | 90291                               
|(Address of principal executive offices)                             | (Zip Code)                          

Registrant's telephone number, including area code:
877.943.3210

Securities registered pursuant to Section 12(b) of the Act:

|Title of Each Class | Name of Each Exchange On Which Registered
|------------------- | -----------------------------------------
|N/A                 | N/A                                      

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $0.00001 par value(Title of
class)

Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 the Securities Act.
Yes[ ] No[ x ]

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 ]

---

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

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Website, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-K (§229.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such
files).Yes[ ] No[ ]

Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not
contained herein, and will not 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-K or any amendment to this Form 10-K.[
]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See definition of large accelerated filer, accelerated
filer and smaller reporting company in Rule 12b-2 of the Exchange Act.

|Large accelerated filer [ ] | Accelerated filer [ ]          
|--------------------------- | -------------------------------
|Non-accelerated filer [ ]   | Smaller reporting company [ x ]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act). 
Yes[ ] No[ x ]

The aggregate market value of Common Stock held by
non-affiliates of the Registrant on September 30, 2010 was $5,025,325 based on a
$0.1475 average bid and asked price of such common equity, as of the last
business day of the registrants most recently completed second fiscal
quarter.

Indicate the number of shares outstanding of each of the
registrants classes of common stock as of the latest practicable
date.57,760,141 as of June 27, 2011

DOCUMENTS INCORPORATED BY REFERENCE

None.

2

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TABLE OF CONTENTS

|Item
      1.  | Business                                                                                                                 | 4 
|-------------- | ------------------------------------------------------------------------------------------------------------------------ | --
|Item
      1A. | Risk
      Factors                                                                                                       | 9 
|Item
      1B. | Unresolved
      Staff Comments                                                                                          | 9 
|Item
      2.  | Properties                                                                                                               | 9 
|Item
      3.  | Legal
      Proceedings                                                                                                  | 9 
|Item
      4.  | [Removed
      and Reserved]                                                                                             | 9 
|Item
      5.  | Market
      for Registrants Common Equity, Related Stockholder Matters and Issuer
      Purchases of Equity Securities | 9 
|Item
      6.  | Selected
      Financial Data                                                                                            | 10
|Item
      7.  | Managements
      Discussion and Analysis of Financial Condition and Results of Operations                              | 11
|Item
      7A. | Quantitative
      and Qualitative Disclosures About Market Risk                                                         | 14
|Item
      8.  | Financial
      Statements and Supplementary Data                                                                        | 14
|Item
      9.  | Changes
      in and Disagreements With Accountants on Accounting and Financial
      Disclosure                         | 16
|Item
      9A. | Controls
      and Procedures                                                                                            | 16
|Item
      9B. | Other
      Information                                                                                                  | 17
|Item
      10. | Directors,
      Executive Officers and Corporate Governance                                                             | 17
|Item
      11. | Executive
      Compensation                                                                                             | 21
|Item
      12. | Security
      Ownership of Certain Beneficial Owners and Management and Related
      Stockholder Matters.              | 23
|Item
      13. | Certain
      Relationships and Related Transactions, and Director Independence                                          | 24
|Item
      14. | Principal
      Accounting Fees and Services                                                                             | 24
|Item
      15. | Exhibits,
      Financial Statement Schedules                                                                            | 24

3

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PART I

|Item 1. | Business
|------- | --------

This annual report contains forward-looking statements. These
statements relate to future events or our future financial performance. In some
cases, you can identify forward-looking statements by terminology such as may,
should, expects, plans, anticipates, believes, estimates,
predicts, potential or continue or the negative of these terms or other
comparable terminology. These statements are only predictions and involve known
and unknown risks, uncertainties and other factors, including the risks in the
section entitled Risk Factors, that may cause our or our industrys actual
results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. Except as required by
applicable law, including the securities laws of the United States, we do not
intend to update any of the forward-looking statements to conform these
statements to actual results.

Our financial statements are stated in United States Dollars
(US$) and are prepared in accordance with United States Generally Accepted
Accounting Principles.

In this annual report, unless otherwise specified, all dollar
amounts are expressed in United States dollars and all references to common
shares refer to the common shares in our capital stock.

As used in this annual report, the terms we", "us", "our" and
"our company" mean Convenience TV Inc. and our wholly owned subsidiary C-Store
Networks LLC., unless otherwise indicated.

General Overview

We were incorporated in Nevada on December 4, 2008, under the
name "Costa Rica Paradise Inc.", to engage in the business of real estate
investment consulting with respect to properties located in Costa Rica. On April
23, 2010 our board of directors authorized a change in name to Convenience TV
Inc. and a forward split of our common stock on a basis of 7 for 1 which became
effective with the OTC Bulletin Board on June 15, 2010. On May 5, 2010 we
experienced a change of control upon the closing of an acquisition of C-Store
Networks LLC. Our statutory registered agent in Nevada is National Registered
Agents Inc. of NV located at 1000 East William Street, Suite 204, Carson City,
Nevada 89701. Our business office is located at 248 Main Street, Venice, CA,
90219 and our telephone number is 310-566-3696.

Our Current Business

We are engaged in the provision of advertising services through
a network of in-location televisions installed at various convenience store
locations.

Principal Products

We will pursue exclusive agreements with a variety of
convenience store operators to provide them with in-location television network
advertising. We have a relationship with Universal Distributing Co. Ltd., to
organize location acquisitions. Universal currently has representatives who
focus mainly on the convenience store industry with a variety of products.
Universal covers approximately 40 states. Our advertising network is designed to
deliver both entertaining content and targeted advertising on a demographic
basis to each retail location. In addition our advertising network delivers
promotional advertising tied to products within the retail location. The
programming can be up-dated quickly and is tailored to meet the specific
clients need for increased sales, customer enjoyment and brand
reinforcement.

4

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We customize the installation at each store depending on the
particular stores configuration and size. In general, we install one 42 inch
LCD screen in the highest traffic area of the store (generally in the cooler
section) and one 32 inch LCD screen in the cash area. Currently, we purchase the
screens from LG and our playback computers are purchased from Dell, however we
are constantly reviewing the products of all screen and computer manufacturers
to ensure that we receive the best price possible. We contract out our in-store
installations to several independent installation companies. We sign a 5 year
agreement with the location owner that contains a 3 to 5 year renewal option.
The renewal is at our sole discretion.



We supply all of the equipment and programming as well as
advertising sales on a revenue sharing basis. Revenue from advertising sales for
our convenience store network is split with the location on a net basis (after
all costs of the network are deducted). Revenue splits vary from customer to
customer.

We generate revenues mainly through the sale of advertisements
on our advertising network which is displayed on screens throughout convenience
store locations. SeeSaw Networks has developed a costing formula for
advertisements on our network as one of our primary advertising
distributors.

Our networks monthly average of active viewers is discounted
by 40% then divided by 1,000 to reach what is called Customers Per Thousand
(CPM). That number is then multiplied by the rate charged to the Ad Buyer (the
CPM Rate) to determine the revenue generated per month, per store.

We receive revenue from two main and two ancillary sources:

Main:

- Advertising Sales on our network - nationally contracted to Outcast Media
  Inc. and SeeSaw Networks; and
- Physical Product Sales  We receive a commissions on products sold to the
  stores from those companies wishing to promote their new products on a direct
  basis if we place products within store which did not previously sell them.

5

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Ancillary:

- Digital Downloads of ringtones, songs and games customers who
  purchase one of these products due to our advertising do so using a a special
  code which signifies our network as the origin of the purchase and we receive
  commissions for this purchase;
- Outbound Text Messaging campaigns  We are paid a percentage for each text
  message sent by a customer when they participate in a promotion being
  advertised on our network.

Content and Advertisements

Content is an extremely important element to the success of our
advertising network. It must be current, relevant and entertaining so as to
attract viewers. The national average of a customers dwell time within a
convenience store is approximately 6 minutes per visit. We split our network
programming into 3 minute segments of both advertising and entertaining content
such as movie trailers, music videos, extreme sports, outdoors shows, and
trivia. An added feature is the ability to sell branded content or
advertainment, which is the combination of entertainment and advertising into
one content piece.

Our content strategy was developed during an initial 9 month
testing phase. We tested: remote management software; internet connectivity;
and, developed installation criteria. In addition, we tested different types of
content, various lengths of content playtime, the process of receiving and
in-putting store promotions and, the development of a system that would deliver
those promotions in a timely manner back to the network.

We currently have arrangements with content owners that allow
us to provide a continuous content mix to our network.

Our management will take an active role in selling the
advertising for the network. They will also work with agencies to ensure that
the network is available to all levels of purchasing. In order to expose our
advertising network to potential corporate clients who wish to include their
marketing items on our network, we have made arrangements with certain ad
selling groups:

- Outcast  a mixed media advertising company can sell our advertising
  network time to clients interested access to both gas pump and in-store.
- See Saw Networks Inc.  SeeSaw accumulates networks under their sales
  umbrella to deliver national footprints for their media buyers.
- Media Rich Marketing  Media Rich is a product placement and sponsorship
  marketing company specializing in partnering brands with television, radio and
  online media outlets. The company has placed products on shows in prime time
  to local television programming. The company has worked with TV programs on
  ABC and Fox, syndicated programs such as: Regis and Kelly; The Ellen Degeneres
  Show; NASCAR Angels; and The Today Show; as well as cable networks including
  Fox News Channel, MSNBC and CNN.



6

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Markets

We sell our services primarily to companies looking to
advertise their products on our convenience store network. Frequently these
companies hire advertising placement agents and these agents are generally our
intermediaries between the actual customers.

Frost & Sullivan, a global growth consulting firm,
estimates that by the year 2010, advertising on U.S. and Canadian networked
displays will be a $3.7 billion-a-year business.

Jonathan Barnard, head of publications at ZenithOptimedia,
forecasts that outdoor advertising will grow 7 percent next year, from $6.9
billion to $7.4 billion. "New digital displays are making out-of-home more
eye-catching and attractive, and because they can be updated very quickly they
open up out-of-home to time-sensitive campaigns. We forecast cinema and
out-of-home grow a total of 17 percent each between 2010 and 2013."

Barnard says a similar system introduced in European markets
several years ago led to a noticeable gain in spending, with buyers and planners
pleased with the medium's new accountability. ZenithOptimedia predicts that
digital and alternative media together will grow at a rate of 10 percent next
year, with many new advertisers trying them out for the first time.

We have targeted the convenience store market for these
reasons:

- Overwhelming number of locations overall (167,000+);
- Large In-Store traffic  national average 1500 people per day;
- Easy to establish a large captive audience .
- Minimal deployment costs as targeted stores are on average 2000 sq. ft.
- Large Male Audience in the hard to reach 18-44 age group;
- Multiple Vendors as Advertising Prospects.

Competition

We face competition from various advertising companies ranging
from small, private businesses to large, state-sponsored enterprises.

Many of our competitors have longer operating histories, better
brand recognition and greater financial resources than we do. In order for us to
successfully compete in our industry we will need to:

- develop highly marketable content and sales strategies;
- continue developing our relationships with major advertising companies and
  sales agencies; and
- increase our financial resources.

However, there can be no assurance that even if we do these
things we will be able to compete effectively with the other companies in our
industry.

We believe that we will be able to compete effectively in our
industry because of a successful placement strategy and focus on in-store
advertising in convenience stores. We believe our competitive advantages of our
advertising network are:

- Greater message impact by using full-motion, full-color video;
- The ability to change the message faster, more easily and less expensively
  than replacing printed signage and point of sale material;

7

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- The ability to change the message based on time of day, day of week - even
  due to weather;
- The ability to efficiently and inexpensively provide regional, local and
  even site-specific programming;
- Reduces the length of time required to deploy new promotional programs;
- Offer product partners a more relevant/cost-effective merchandising
  platform;
- Ability to reduce merchandising clutter by promoting multiple products and
  perishables in the store and at the right time.

However, as we are a newly-established company, we face the
same problems as other new companies starting up in an industry, such as lack of
available funds. Our competitors may be substantially larger and better funded
than us, and have significantly longer histories of research, operation and
development than us. In addition, they may develop similar technologies to ours
and use the same methods as we do and generally be able to respond more quickly
to new or emerging technologies and changes in legislation and regulations
relating to the industry. Additionally, our competitors may devote greater
resources to the development, promotion and sale of their products or services
than we do. Increased competition could also result in loss of key personnel,
reduced margins or loss of market share, any of which could harm our
business.

Intellectual Property

We have not filed for any protection of our name or trademark.
We own all content on our website: http://www.cstorenet.com/.

Employees and Consultants

As of June 27, 2011, we had no employees other than our
directors and officers.

Government Regulations

We are not aware of any government regulations which would have
a significant impact on our operations.

Environmental Regulations

We are not aware of any material violations of environmental
permits, licenses or approvals that have been issued with respect to our
operations. We expect to comply with all applicable laws, rules and regulations
relating to our business, and at this time, we do not anticipate incurring any
material capital expenditures to comply with any environmental regulations or
other requirements.

While our intended projects and business activities do not
currently violate any laws, any regulatory changes that impose additional
restrictions or requirements on us or on our potential customers could adversely
affect us by increasing our operating costs or decreasing demand for our
products or services, which could have a material adverse effect on our results
of operations.

REPORTS TO SECURITY HOLDERS

We are required to file annual, quarterly and current reports,
proxy statements and other information with the Securities and Exchange
Commission and our filings are available to the public over the internet at the
Securities and Exchange Commissions website at http://www.sec.gov. The public
may read and copy any materials filed by us with the Securities and Exchange
Commission at the Securities and Exchange Commissions Public Reference Room at
100 F Street N.E. Washington D.C. 20549. The public may obtain information on
the operation of the Public Reference Room by calling the Securities and
Exchange Commission at 1-800-732-0330. The SEC also maintains an Internet site
that contains reports, proxy and formation statements, and other information
regarding issuers that file electronically with the SEC, at
http://www.sec.gov.

8

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|Item 1A. | Risk Factors
|-------- | ------------

As a smaller reporting company, we are not required to
provide the information required by this Item.

|Item 1B. | Unresolved Staff Comments
|-------- | -------------------------

As a smaller reporting company, we are not required to
provide the information required by this Item.

|Item 2. | Properties
|------- | ----------

Our business office is located at 248 Main Street, Venice, CA,
90219. Our 500 square meter office space is provided to us at no charge by our
management.

|Item 3. | Legal Proceedings
|------- | -----------------

We know of no material, existing or pending legal proceedings
against our company, nor are we involved as a plaintiff in any material
proceeding or pending litigation. There are no proceedings in which any of our
directors, officers or affiliates, or any registered or beneficial stockholder,
is an adverse party or has a material interest adverse to our interest.

|Item 4. | [Removed and Reserved]
|------- | ----------------------

PART II

|Item 5. | Market for Registrants Common Equity,
      Related Stockholder Matters and Issuer Purchases of Equity
      Securities
|------- | ------------------------------------------------------------------------------------------------------------------------

Our Common stock quoted on the OTC Bulletin Board under the
Symbol "CRPZ". Our common stock was listed for quotation on November 12,
2009.

The following table reflects the high and low bid information
for our common stock obtained from Stockwatch and reflects inter-dealer prices,
without retail mark-up, markdown or commission, and may not necessarily
represent actual transactions.

The high and low bid prices of our common stock for the periods
indicated below are as follows:

OTC Bulletin BoardQuarter Ended
    High
    LowMarch 31, 2011
    $0.06
    $0.0195December 31, 2010
    $0.201
    $0.03September 30, 2010
    $0.38
    $0.08June 30, 2010
    $3.50
    $0.60March 31, 2010
    N/A(1)
    N/A(1)


|(1) | Our first trade did not occur until April 20,
  2010.
|--- | -----------------------------------------------------

As of June 27, 2011, there were approximately 51 holders of
record of our common stock. As of such date, June 27, 2011, 57,760,141 common
shares were issued and outstanding.

Our common shares are issued in registered form. Empire Stock
Transfer Inc, 1859 Whitney Mesa Drive Henderson, NV 89014 (Telephone: (702)
818-5898) is the registrar and transfer agent for our common shares.

9

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Dividend Policy

We have not paid any cash dividends on our common stock and
have no present intention of paying any dividends on the shares of our common
stock. Our current policy is to retain earnings, if any, for use in our
operations and in the development of our business. Our future dividend policy
will be determined from time to time by our board of directors.

Recent Sales of Unregistered Securities; Use of Proceeds
from Registered Securities

Other than as disclosed herein, we did not sell any equity
securities which were not registered under the Securities Act during the year
ended March 31, 2011 that were not otherwise disclosed on our quarterly reports
on Form 10-Q or our current reports on Form 8-K filed during the year ended
March 31, 2011.

On July 1, 2010, we issued 520,000 shares of common stock at
$0.055 per share for proceeds of $28,700. We issued the securities to two (2)
non-U.S. persons (as that term is defined in Regulation S of the Securities Act
of 1933), in an offshore transaction relying on Regulation S and/or Section 4(2)
of the Securities Act of 1933.

On July 22, 2010, we issued 1,250,000 shares of common stock at
$0.20 per share for proceeds of $250,000. We issued the securities to one (1)
non-U.S. persons (as that term is defined in Regulation S of the Securities Act
of 1933), in an offshore transaction relying on Regulation S and/or Section 4(2)
of the Securities Act of 1933.

On August 3, 2010, we issued 600,000 shares of common stock
with a fair value of $90,000 pursuant to an investor relations agreement entered
into on August 1, 2010. We issued the securities to one U.S. person (as that
term is defined in Regulation S of the Securities Act of 1933) relying upon Rule
506 of Regulation D of the Securities Act of 1933.

Equity Compensation Plan Information

Except as disclosed herein, we do not have a stock option plan
in favor of any director, officer, consultant or employee of our company.

Convertible Securities

On December 3, 2010, we issued a $55,000 convertible note which
bears interest at 8% per annum and matures on September 3, 2011. The note is not
convertible until 180 days after the date of issuance and, thereafter, is
convertible into shares of common stock on or after June 1, 2011 at a conversion
rate of 58% of the average of the three lowest closing bid prices of our common
stock for the ten trading days ending one trading day prior to the date the
conversion notice is sent by the holder to us. Upon an event of default, the
entire principal balance and accrued interest outstanding is due immediately,
and interest shall accrue on the unpaid principal balance at 22% per annum.

On January 14, 2011, we issued a $42,500 convertible note which
bears interest at 8% per annum and matures on October 18, 2011. The note is not
convertible until 180 days after the date of issuance and, thereafter, is
convertible into shares of common stock on or after July 13, 2011 at a
conversion rate of 58% of the average of the three lowest closing bid prices of
our common stock for the ten trading days ending one trading day prior to the
date the conversion notice is sent by the holder to us. Upon an event of
default, the entire principal balance and accrued interest outstanding is due
immediately, and interest shall accrue on the unpaid principal balance at 22%
per annum.

Purchase of Equity Securities by the Issuer and Affiliated
Purchasers

We did not purchase any of our shares of common stock or other
securities during our fourth quarter of our fiscal year ended March 31,
2011.

|Item 6. | Selected Financial Data
|------- | -----------------------

As a smaller reporting company, we are not required to
provide the information required by this Item.

10

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|Item 7. | Managements Discussion and Analysis of
      Financial Condition and Results of Operations
|------- | -------------------------------------------------------------------------------------------

The following discussion should be read in conjunction with our
audited financial statements and the related notes for the years ended March 31,
2011 and March 31, 2010 that appear elsewhere in this annual report. The
following discussion contains forward-looking statements that reflect our plans,
estimates and beliefs. Our actual results could differ materially from those
discussed in the forward looking statements. Factors that could cause or
contribute to such differences include, but are not limited to those discussed
below and elsewhere in this annual report, particularly in the section entitled
"Risk Factors" beginning on page 9 of this annual report.

Our audited financial statements are stated in United States
Dollars and are prepared in accordance with United States Generally Accepted
Accounting Principles.

Purchase of Significant Equipment

We intend to purchase approximately $660,000 worth of equipment
for expansion of our operations over the next twelve months. We do not currently
have the funds necessary to initiate this expansion and there can be no
assurance that we will be able to secure the required funding.

Personnel Plan

We do not expect any material changes in the number of
employees over the next 12 month period (although we may enter into employment
or consulting agreements with our officers or directors). We do and will
continue to outsource contract employment as needed.

Results of Operations

For the Year Ending March 31, 2011 and 2010

| |                    |   | Year Ended |  
| | ------------------ | - | ---------- | -
| |                    |   | March 31   |  
| |                    |   | 2011       |  
| | Revenue            | $ | Nil        |  
| | Operating Expenses | $ | 436,035    |  
| | Net Loss           | $ | (450,906   | )

Expenses

Our operating expenses for our years ended March 31, 2011 and
2010 are outlined in the table below:

| |                                        |   | Year Ended |  
| | -------------------------------------- | - | ---------- | -
| |                                        |   | March 31   |  
| |                                        |   | 2011       |  
| | Amortization of property and equipment | $ | 51,938     |  
| | Consulting fees                        | $ | 6,700      |  
| | Foreign exchange loss (gain)           | $ | (2,705     | )
| | Investor relations                     | $ | 112,840    |  
| | Management fees                        | $ | 114,000    |  
| | Network management                     | $ | 98,485     |  
| | Office and general                     | $ | 10,758     |  
| | Professional fees                      | $ | 34,844     |  
| | Transfer agent and filing fees         | $ | 8,788      |  
| | Travel and promotion                   | $ | 387        |  

11

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Operating expenses for year ended March 31, 2011 increased by
278% as compared to the comparative period in 2010 primarily as a result of an
increase in investor relations, management fees and network management.

Revenue

We have earned revenues of $14,326 since our inception. We have
not earned any revenues in our last two fiscal years.

Equity Compensation

We currently do not have any stock option or equity
compensation plans or arrangements.

Liquidity and Financial Condition

Working CapitalAt
    
    
    AtMarch 31,
    
    
    March 31,2011
    
    
    2010Current Assets
    $
    70,679
    
    $
    8,457Current Liabilities
    $
    68,544
    
    $
    392,467Working Capital (Deficit)
    $
    2,135
    
    $
    (384,010
    )


|Cash Flows                                |   |            |   |   |            |  
|----------------------------------------- | - | ---------- | - | - | ---------- | -
|                                          |   | Year Ended |   |   | Year Ended |  
|                                          |   | March 31,  |   |   | March 31,  |  
|                                          |   | 2011       |   |   | 2010       |  
|Net Cash used in Operating Activities     | $ | (308,876   | ) | $ | (68,642    | )
|Net Cash used in Investing Activities     | $ | 6,755      |   | $ | (8,005     | )
|Net Cash Provided by Financing Activities | $ | 370,700    |   | $ | 76,647     |  
|Increase in Cash During the Period        | $ | 51,518     |   | $ | Nil        |  

We will require additional funds to fund our budgeted expenses
over the next 12 months. These funds may be raised through equity financing,
debt financing, or other sources, which may result in further dilution in the
equity ownership of our shares. There is still no assurance that we will be able
to maintain operations at a level sufficient for an investor to obtain a return
on his investment in our common stock. Further, we may continue to be
unprofitable. We need to raise additional funds in the immediate future in order
to proceed with our budgeted expenses.

Specifically, we estimate our operating expenses and working
capital requirements for the next 12 months to be as follows:

|Description                         | Estimated
      Completion Date | Estimated Expenses
      ($)
|----------------------------------- | ------------------------------- | ----------------------------
|Legal and accounting fees           | 12 months                       | 100,000                     
|Marketing and advertising           | 12 months                       | 17,600                      
|Management and operating costs      | 12 months                       | 650,000                     
|Salaries and consulting fees        | 12 months                       | 200,000                     
|Fixed asset purchases               | 12 months                       | 660,000                     
|General and administrative expenses | 12 months                       | 75,000                      
|Total                               |                                 | 1,702,600                   

12

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We intend to meet our cash requirements for the next 12 months
through a combination of debt financing and equity financing by way of private
placements. We currently do not have any arrangements in place to complete any
private placement financings and there is no assurance that we will be
successful in completing any private placement financings. If we are not able to
successfully complete any private placement financings, we plan to cooperate
with film and television producers or obtain shareholder loans to meet our cash
requirements. However, there is no assurance that any such financing will be
available or if available, on terms that will be acceptable to us. We may not
raise sufficient funds to fully carry out our business plan.

Future Financings

We will require additional financing in order to enable us to
proceed with our plan of operations, as discussed above, including approximately
$1,702,600 over the next 12 months to pay for our ongoing expenses. These
expenses include legal, accounting and audit fees as well as general and
administrative expenses. These cash requirements are in excess of our current
cash and working capital resources. Accordingly, we will require additional
financing in order to continue operations and to repay our liabilities. There is
no assurance that any party will advance additional funds to us in order to
enable us to sustain our plan of operations or to repay our liabilities.

We anticipate continuing to rely on equity sales of our common
stock in order to continue to fund our business operations. Issuances of
additional shares will result in dilution to our existing stockholders. There is
no assurance that we will achieve any additional sales of our equity securities
or arrange for debt or other financing to fund our planned business
activities.

We presently do not have any arrangements for additional
financing for the expansion of our exploration operations, and no potential
lines of credit or sources of financing are currently available for the purpose
of proceeding with our plan of operations.

Contractual Obligations

As a smaller reporting company, we are not required to
provide tabular disclosure obligations.

Going Concern

We generated minimal revenues since inception and are dependent
upon obtaining outside financing to carry out our operations and pursue our
pharmaceutical research and development activities. If we are unable to generate
future cash flows, raise equity or secure alternative financing, we may not be
able to continue our operations and our business plan may fail. You may lose
your entire investment.

If our operations and cash flow improve, management believes
that we can continue to operate. However, no assurance can be given that
management's actions will result in profitable operations or an improvement in
our liquidity situation. The threat of our ability to continue as a going
concern will cease to exist only when our revenues have reached a level able to
sustain our business operations.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on our financial condition,
changes in financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that is material to
stockholders.

Critical Accounting Policies

The discussion and analysis of our financial condition and
results of operations are based upon our consolidated financial statements,
which have been prepared in accordance with the accounting principles generally
accepted in the United States of America. Preparing financial statements
requires management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, revenue, and expenses. These estimates and
assumptions are affected by managements application of accounting policies. We
believe that understanding the basis and nature of the estimates and assumptions involved with
the following aspects of our financial statements is critical to an
understanding of our financial statements.

13

---

Revenue Recognition

We recognize revenue in accordance with ASC 604, Revenue
Recognition. Revenue consists of streaming advertising services. Revenue is
recognized only when the price is fixed or determinable, persuasive evidence of
an arrangement exists, the service is performed, and collectibility is
reasonably assured.

Impairment of Long-lived Assets

In accordance with ASC 360, Property, Plant, and Equipment,
we test long-lived assets or asset groups for recoverability when events or
changes in circumstances indicate that their carrying amount may not be
recoverable. Circumstances which could trigger a review include, but are not
limited to: significant decreases in the market price of the asset; significant
adverse changes in the business climate or legal factors; accumulation of costs
significantly in excess of the amount originally expected for the acquisition or
construction of the asset; current period cash flow or operating losses combined
with a history of losses or a forecast of continuing losses associated with the
use of the asset; and current expectation that the asset will more likely than
not be sold or disposed significantly before the end of its estimated useful
life. Recoverability is assessed based on the carrying amount of the asset and
its fair value which is generally determined based on the sum of the
undiscounted cash flows expected to result from the use and the eventual
disposal of the asset, as well as specific appraisal in certain instances. An
impairment loss is recognized when the carrying amount is not recoverable and
exceeds fair value.

Recent Accounting Pronouncements

In January 2010, the FASB issued an amendment to ASC 820, Fair
Value Measurements and Disclosures, to require reporting entities to separately
disclose the amounts and business rationale for significant transfers in and out
of Level 1 and Level 2 fair value measurements and separately present
information regarding purchase, sale, issuance, and settlement of Level 3 fair
value measures on a gross basis. The adoption of this standard on April 1, 2010,
with the exception of disclosures regarding the purchase, sale, issuance, and
settlement of Level 3 fair value measures which are effective for fiscal years
beginning after December 15, 2010, did not have a material effect on our
companys consolidated financial statements. The adoption of the remainder of
the standard is not expected to have a material effect on our companys
consolidated financial statements.

Our company has implemented all new accounting pronouncements
that are in effect and that may impact our financial statements and does not
believe that there are any other new accounting pronouncements that have been
issued that might have a material impact on our financial position or results of
operations.

|Item 7A. | Quantitative and Qualitative Disclosures
      About Market Risk
|-------- | ----------------------------------------------------------------

As a smaller reporting company, we are not required to
provide the information required by this Item.

|Item 8. | Financial Statements and Supplementary
      Data
|------- | -------------------------------------------------

14

---

|CONVENIENCE TV INC.                
|-----------------------------------
|(formerly Costa Rica Paradise Inc.)
|(A Development Stage Company)      
|March 31, 2011                     
|(Expressed in US dollars)          

|                                                                | Index
|--------------------------------------------------------------- | -----
|Report of Independent Registered
      Public Accounting Firm   | F1  
|Consolidated Balance Sheets                                     | F2  
|Consolidated Statements
      of Operations                     | F3  
|Consolidated Statements of Stockholders
      Equity (Deficit) | F4  
|Consolidated Statements
      of Cash Flows                     | F5  
|Notes to the Consolidated Financial Statements                  | F6  

---



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To the Board of Directors and Stockholders of Convenience
TV Inc. (formerly Costa Rica Paradise Inc.) (A Development Stage
Company)

We have audited the accompanying balance sheets of Convenience
TV Inc. (formerly Costa Rica Paradise Inc.) (A Development Stage Company) as of
March 31, 2011 and 2010, and the related statements of operations, stockholders
equity (deficit), and cash flows for the years then ended and accumulated from
March 31, 2008 (date of inception) to March 31, 2011. These financial statements
are the responsibility of the Company's management. Our responsibility is to
express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the
Public Company Accounting Oversight Board (United States). Those standards
require that we 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. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial
reporting. An audit includes consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of internal control over financial reporting. Accordingly, we
express no such opinion. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position of the Company
as of March 31, 2011 and 2010, and the results of its operations and its cash
flows for the years then ended and accumulated from March 31, 2008 (date of
inception) to March 31, 2011, in conformity with accounting principles generally
accepted in the United States.

The accompanying consolidated financial statements have been
prepared assuming the Company will continue as a going concern. As discussed in
Note 1 to the financial statements, the Company has a working capital deficit
and has incurred operating losses since inception. These factors raise
substantial doubt about the Companys ability to continue as a going concern.
Managements plans in regard to these matters are also discussed in Note 1 to
the financial statements. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

/s/ SATURNA GROUP CHARTERED ACCOUNTANTS LLP

Saturna Group Chartered Accountants LLP

Vancouver, Canada

June 15, 2011

F-1

---

|CONVENIENCE TV INC.                
|-----------------------------------
|(formerly Costa Rica Paradise Inc.)
|(A Development Stage Company)      
|Consolidated Balance Sheets        
|(Expressed in US Dollars)          

|                                                                                                                                                       |  | March 31, |   |  | March 31, |  
|------------------------------------------------------------------------------------------------------------------------------------------------------ |  | --------- | - |  | --------- | -
|                                                                                                                                                       |  | 2011      |   |  | 2010      |  
|                                                                                                                                                       |  | $         |   |  | $         |  
|                                                                                                                                                       |  |           |   |  |           |  
|ASSETS                                                                                                                                                 |  |           |   |  |           |  
|Current Assets                                                                                                                                         |  |           |   |  |           |  
|Cash                                                                                                                                                   |  | 51,518    |   |  |          |  
|Prepaid expenses                                                                                                                                       |  |          |   |  | 8,457     |  
|Due from Global Fusion Media Inc. (Note 4)                                                                                                             |  | 19,161    |   |  |          |  
|Total Current Assets                                                                                                                                   |  | 70,679    |   |  | 8,457     |  
|Property and equipment (Note 3)                                                                                                                        |  | 37,140    |   |  | 89,078    |  
|Deferred financing
      costs (Note 5)                                                                                                                |  | 3,472     |   |  |          |  
|Total Assets                                                                                                                                           |  | 111,291   |   |  | 97,535    |  
|                                                                                                                                                       |  |           |   |  |           |  
|LIABILITIES AND STOCKHOLDERS EQUITY
      (DEFICIT)                                                                                                   |  |           |   |  |           |  
|Current Liabilities                                                                                                                                    |  |           |   |  |           |  
|Accounts payable                                                                                                                                       |  | 3,324     |   |  | 3,308     |  
|Accrued liabilities                                                                                                                                    |  | 2,155     |   |  | 1,137     |  
|Convertible debt, less
      unamortized discount of $34,435 (Note 5)                                                                                  |  | 63,065    |   |  |          |  
|Due
      to Global Fusion Media Inc. (Note 4)                                                                                                         |  |          |   |  | 388,022   |  
|Total Liabilities                                                                                                                                      |  | 68,544    |   |  | 392,467   |  
|Nature of Operations and Continuance of Business (Note 1)                                                                                              |  |           |   |  |           |  
|Subsequent Event (Note 9)                                                                                                                              |  |           |   |  |           |  
|Stockholders Equity (Deficit)                                                                                                                         |  |           |   |  |           |  
|Common Stock    Authorized:
      100,000,000 common shares, $0.00001 par value    Issued and
      outstanding: 56,070,000 shares (2010  36,000,000) |  | 561       |   |  | 1         |  
|Additional paid-in capital                                                                                                                             |  | 788,025   |   |  |          |  
|Deficit accumulated during the development stage                                                                                                       |  | (745,839  | ) |  | (294,933  | )
|Total
      Stockholders' Equity (Deficit)                                                                                                             |  | 42,747    |   |  | (294,932  | )
|Total Liabilities and Stockholders' Equity (Deficit)                                                                                                   |  | 111,291   |   |  | 97,535    |  

(The accompanying notes are an integral part of these
consolidated financial statements)

F-2

---

|CONVENIENCE TV INC.                  
|-------------------------------------
|(formerly Costa Rica Paradise Inc.)  
|(A Development Stage Company)        
|Consolidated Statements of Operations
|(Expressed in US Dollars)            

|                                                 |  |            |   |  |            |   |  | Accumulated from       |  
|------------------------------------------------ |  | ---------- | - |  | ---------- | - |  | ---------------------- | -
|                                                 |  | Year       |   |  | Year       |   |  | March 31, 2008         |  
|                                                 |  | Ended      |   |  | Ended      |   |  | (date of inception) to |  
|                                                 |  | March 31,  |   |  | March 31,  |   |  | March 31,              |  
|                                                 |  | 2011       |   |  | 2010       |   |  | 2011                   |  
|                                                 |  | $          |   |  | $          |   |  | $                      |  
|                                                 |  |            |   |  |            |   |  |                        |  
|Revenue                                          |  |           |   |  |           |   |  | 14,326                 |  
|                                                 |  |            |   |  |            |   |  |                        |  
|Expenses                                         |  |            |   |  |            |   |  |                        |  
|                                                 |  |            |   |  |            |   |  |                        |  
|Amortization of property and
      equipment     |  | 51,938     |   |  | 51,627     |   |  | 118,676                |  
|Consulting fees                                  |  | 6,700      |   |  | 6,500      |   |  | 13,200                 |  
|Content services                                 |  |           |   |  |           |   |  | 6,470                  |  
|Foreign exchange loss (gain)                     |  | (2,705     | ) |  | 39,400     |   |  | 17,050                 |  
|Investor relations                               |  | 112,840    |   |  |           |   |  | 112,840                |  
|Management fees (Note 6)                         |  | 114,000    |   |  |           |   |  | 236,305                |  
|Network management                               |  | 98,485     |   |  | 5,000      |   |  | 144,245                |  
|Office and general                               |  | 10,758     |   |  | 126        |   |  | 14,796                 |  
|Professional fees                                |  | 34,844     |   |  | 11,305     |   |  | 48,813                 |  
|Transfer agent and filing fees                   |  | 8,788      |   |  |           |   |  | 8,788                  |  
|Travel and promotion                             |  | 387        |   |  | 1,384      |   |  | 24,111                 |  
|Total Operating
      Expenses                   |  | 436,035    |   |  | 115,342    |   |  | 745,294                |  
|Loss from Operations                             |  | (436,035   | ) |  | (115,342   | ) |  | (745,294               | )
|Other Expense                                    |  |            |   |  |            |   |  |                        |  
|Accretion of discounts on
      convertible debt |  | (10,688    | ) |  |           |   |  | (10,688                | )
|Amortization of deferred financing costs         |  | (2,028     | ) |  |           |   |  | (2,028                 | )
|Interest expense                                 |  | (2,155     | ) |  |           |   |  | (2,155                 | )
|Total Other
      Expense                        |  | (14,871    | ) |  |           |   |  | (14,871                | )
|Net Loss for the Period                          |  | (450,906   | ) |  | (115,342   | ) |  | (745,839               | )
|                                                 |  |            |   |  |            |   |  |                        |  
|Net Loss Per Share  Basic and Diluted           |  | (0.01      | ) |  |           |   |  |                        |  
|                                                 |  |            |   |  |            |   |  |                        |  
|Weighted Average Shares Outstanding              |  | 50,200,438 |   |  | 36,000,000 |   |  |                        |  

(The accompanying notes are an integral part of these
consolidated financial statements)

F-3

---

|CONVENIENCE TV INC.                                      
|---------------------------------------------------------
|(formerly Costa Rica Paradise Inc.)                      
|(A Development Stage Company)                            
|Consolidated Statements of Stockholders Equity (Deficit)
|(Expressed in US Dollars)                                

|                                                             |  |            |  |  |         |  |  |             |   |  | Deficit     |   |  |          |  
|------------------------------------------------------------ |  | ---------- |  |  | ------- |  |  | ----------- | - |  | ----------- | - |  | -------- | -
|                                                             |  |            |  |  |         |  |  |             |   |  | Accumulated |   |  |          |  
|                                                             |  |            |  |  |         |  |  | Additional  |   |  | During the  |   |  |          |  
|                                                             |  | Shares     |  |  | Paid-in |  |  | Development |   |  |             |  
|                                                             |  |            |  |  | Amount  |  |  | Capital     |   |  | Stage       |   |  | Total    |  
|                                                             |  | #          |  |  | $       |  |  | $           |   |  | $           |   |  | $        |  
|                                                             |  |            |  |  |         |  |  |             |   |  |             |   |  |          |  
|Balance, March 31, 2008 (date of inception)                  |  |           |  |  |        |  |  |            |   |  |            |   |  |         |  
|                                                             |  |            |  |  |         |  |  | -           |   |  |             |   |  |          |  
|Shares issued                                                |  | 36,000,000 |  |  | 360     |  |  | (359        | ) |  |            |   |  | 1        |  
|Net loss for the
      year                                  |  |           |  |  |        |  |  |            |   |  | (179,591    | ) |  | (179,591 | )
|Balance, March 31, 2009                                      |  | 36,000,000 |  |  | 360     |  |  | (359        | ) |  | (179,591    | ) |  | (179,590 | )
|Net loss for the
      year                                  |  |           |  |  |        |  |  |            |   |  | (115,342    | ) |  | (115,342 | )
|Balance, March 31, 2010                                      |  | 36,000,000 |  |  | 360     |  |  | (359        | ) |  | (294,933    | ) |  | (294,932 | )
|May 5, 2010  recapitalization transactions                  |  |            |  |  |         |  |  |             |   |  |             |   |  |          |  
|Shares of Convenience TV Inc.,
      net of shares cancelled |  | 17,700,000 |  |  | 177     |  |  | (10,615     | ) |  |            |   |  | (10,438  | )
|Forgiveness of related party debt                            |  |           |  |  |        |  |  | 385,198     |   |  |            |   |  | 385,198  |  
|Shares issued per private placements                         |  | 1,770,000  |  |  | 18      |  |  | 278,682     |   |  |            |   |  | 278,700  |  
|Shares issued per investor relations agreement               |  | 600,000    |  |  | 6       |  |  | 89,994      |   |  |            |   |  | 90,000   |  
|Fair value of beneficial conversion feature                  |  |           |  |  |        |  |  | 45,125      |   |  |            |   |  | 45,125   |  
|Net loss for the
      year                                  |  |           |  |  |        |  |  |            |   |  | (450,906    | ) |  | (450,906 | )
|Balance, March 31, 2011                                      |  | 56,070,000 |  |  | 561     |  |  | 788,025     |   |  | (745,839    | ) |  | 42,747   |  

(The accompanying notes are an integral part of these
consolidated financial statements)

F-4

---

|CONVENIENCE TV INC.                  
|-------------------------------------
|(formerly Costa Rica Paradise Inc.)  
|(A Development Stage Company)        
|Consolidated Statements of Cash Flows
|(Expressed in US Dollars)            

|                                                                                  |  |           |   |  |           |   |  | Accumulated from       |  
|--------------------------------------------------------------------------------- |  | --------- | - |  | --------- | - |  | ---------------------- | -
|                                                                                  |  | Year      |   |  | Year      |   |  | March 31, 2008         |  
|                                                                                  |  | Ended     |   |  | Ended     |   |  | (date of inception) to |  
|                                                                                  |  | March 31, |   |  | March 31, |   |  | March 31,              |  
|                                                                                  |  | 2011      |   |  | 2010      |   |  | 2011                   |  
|                                                                                  |  | $         |   |  | $         |   |  | $                      |  
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Operating Activities                                                              |  |           |   |  |           |   |  |                        |  
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Net loss                                                                          |  | (450,906  | ) |  | (115,342  | ) |  | (745,839               | )
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Adjustments to reconcile net
      loss to net cash used in operating activities: |  |           |   |  |           |   |  |                        |  
|Amortization of property and
      equipment                                      |  | 51,938    |   |  | 51,627    |   |  | 118,676                |  
|Amortization of
      deferred financing costs                                    |  | 2,028     |   |  |          |   |  | 2,028                  |  
|Accretion of discounts on
      convertible debt                                  |  | 10,688    |   |  |          |   |  | 10,688                 |  
|Shares issued
      for investor relations services                               |  | 90,000    |   |  |          |   |  | 90,000                 |  
|Changes in operating assets and liabilities:                                      |  |           |   |  |           |   |  |                        |  
|Due from related
      party                                                      |  | (19,161   | ) |  |          |   |  | (19,161                | )
|Prepaid expenses                                                                  |  | 8,457     |   |  |          |   |  |                       |  
|Accounts payable                                                                  |  | (2,938    | ) |  | (4,167    | ) |  | 370                    |  
|Accrued liabilities                                                               |  | 1,018     |   |  |          |   |  | 2,155                  |  
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Net Cash Used In
      Operating Activities                                       |  | (308,876  | ) |  | (68,642   | ) |  | (541,083               | )
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Investing Activities                                                              |  |           |   |  |           |   |  |                        |  
|Acquisition of property and
      equipment                                       |  |          |   |  | (8,005    | ) |  | (155,816               | )
|Net
      cash acquired on acquisition of subsidiary                              |  | 6,755     |   |  |          |   |  | 6,755                  |  
|Net Cash Provided By (Used In) Investing Activities                               |  | 6,755     |   |  | (8,005    | ) |  | (149,061               | )
|Financing Activities                                                              |  |           |   |  |           |   |  |                        |  
|Advances from Global Fusion
      Media Inc.                                      |  |          |   |  | 76,647    |   |  | 348,482                |  
|Proceeds from convertible debt                                                    |  | 97,500    |   |  |          |   |  | 97,500                 |  
|Deferred financing costs                                                          |  | (5,500    | ) |  |          |   |  | (5,500                 | )
|Proceeds from issuance of common stock                                            |  | 278,700   |   |  |          |   |  | 278,701                |  
|Net Cash Provided by Financing Activities                                         |  | 370,700   |   |  | 76,647    |   |  | 719,183                |  
|Effect of Exchange
      Rate Changes on Cash                                     |  | (17,061   | ) |  |          |   |  | 22,479                 |  
|Change in Cash                                                                    |  | 51,518    |   |  |          |   |  | 51,518                 |  
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Cash, Beginning of Period                                                         |  |          |   |  |          |   |  |                       |  
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Cash, End of Period                                                               |  | 51,518    |   |  |          |   |  | 51,518                 |  
|                                                                                  |  |           |   |  |           |   |  |                        |  
|Supplemental Disclosures:                                                         |  |           |   |  |           |   |  |                        |  
|Interest paid                                                                     |  |          |   |  |          |   |  |                       |  
|Income taxes paid                                                                 |  |          |   |  |          |   |  |                       |  

(The accompanying notes are an integral part of these
consolidated financial statements)

F-5

---

|CONVENIENCE TV INC.                           
|----------------------------------------------
|(formerly Costa Rica Paradise Inc.)           
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|March 31, 2011                                
|(Expressed in US dollars)                     

|1. | Nature of Operations and Continuance of
Business                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Convenience TV Inc. (the Company) was incorporated
      under the laws of the State of Nevada on December 8, 2008. On April 24,
      2010, the Company changed its name from Costa Rica Paradise Inc. to
      Convenience TV Inc. The Companys prior business was real estate
      investment consulting with respect to properties located in Costa Rica.
      Upon completion of an acquisition agreement with Global Fusion Media Inc.
      (Global Fusion), as described below, the Company adopted the business of
      C-Store Network, LLC (C-Store). The Company is a development stage
      company, as defined by Financial Accounting Standards Board Accounting
      Standards Codification (ASC) 915, Development Stage Entities and is
      now engaged in the business of providing advertising services through a
      network of in-location televisions installed at various convenience store
      locations.                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | On May 5, 2010, the Company closed an acquisition
      agreement with Global Fusion in which the Company acquired C-Store, a
      private company fully owned by Global Fusion, in exchange for the issuance
      of 36,000,000 shares of common stock to Global Fusion. Refer to Note
    4.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | These financial statements have been prepared on a going
      concern basis, which implies that the Company will continue to realize its
      assets and discharge its liabilities in the normal course of business. The
      Company has not generated significant revenues since inception and is
      unlikely to generate significant revenue or earnings in the immediate or
      foreseeable future. The continuation of the Company as a going concern is
      dependent upon the continued financial support from its shareholders, the
      ability of the Company to obtain necessary equity financing to continue
      operations, and the attainment of profitable operations. As at March 31,
      2011, the Company has not generated sustained revenue and has an
      accumulated deficit of $745,839 since inception. These factors raise
      substantial doubt regarding the Companys ability to continue as a going
      concern. These financial statements do not include any adjustments to the
      recoverability and classification of recorded asset amounts and
      classification of liabilities that might be necessary should the Company
      be unable to continue as a going concern.                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | The Company will need additional working capital to
      continue or to be successful in any future business activities. Management
      plans to seek debt or equity financing, or a combination of both, to raise
      the necessary working capital.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2. | Summary of Significant Accounting Principles                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Basis of Presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | These financial statements are prepared in conformity
      with accounting principles generally accepted in the United States and are
      presented in US dollars, unless otherwise noted. The Companys fiscal year
      end is March 31.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Cash and Cash Equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | The Company considers all highly liquid instruments with
      maturity of three months or less at the time of issuance to be cash
      equivalents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Use of Estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | The preparation of financial statements in conformity
      with US generally accepted accounting principles requires management to
      make estimates and assumptions that affect the reported amounts of assets
      and liabilities and disclosure of contingent assets and liabilities at the
      date of the financial statements and the reported amounts of revenues and
      expenses during the reporting period. The Company regularly evaluates
      estimates and assumptions related to the useful life and recoverability of
      long-lived assets, fair value of convertible debt, and deferred income tax
      asset valuation allowances. The Company bases its estimates and
      assumptions on current facts, historical experience and various other
      factors that it believes to be reasonable under the circumstances, the
      results of which form the basis for making judgments about the carrying
      values of assets and liabilities and the accrual of costs and expenses
      that are not readily apparent from other sources. The actual results
      experienced by the Company may differ materially and adversely from the
      Companys estimates. To the extent there are material differences between
      the estimates and the actual results, future results of operations will be
      affected.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Property and Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Property and equipment, consisting primarily of computer
      and equipment, is stated at cost and is amortized using the straight-line
      method over their estimated lives of three years.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

F-6

---

|CONVENIENCE TV INC.                           
|----------------------------------------------
|(formerly Costa Rica Paradise Inc.)           
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|March 31, 2011                                
|(Expressed in US dollars)                     

|2. | Summary of Significant Accounting Principles
      (continued)
|-- | --------------------------------------------------------------

Impairment of Long-lived
Assets

In accordance with ASC 360, Property,
Plant, and Equipment, the Company tests long-lived assets or asset groups for
recoverability when events or changes in circumstances indicate that their
carrying amount may not be recoverable. Circumstances which could trigger a
review include, but are not limited to: significant decreases in the market
price of the asset; significant adverse changes in the business climate or legal
factors; accumulation of costs significantly in excess of the amount originally
expected for the acquisition or construction of the asset; current period cash
flow or operating losses combined with a history of losses or a forecast of
continuing losses associated with the use of the asset; and current expectation
that the asset will more likely than not be sold or disposed significantly
before the end of its estimated useful life. Recoverability is assessed based on
the carrying amount of the asset and its fair value which is generally
determined based on the sum of the undiscounted cash flows expected to result
from the use and the eventual disposal of the asset, as well as specific
appraisal in certain instances. An impairment loss is recognized when the
carrying amount is not recoverable and exceeds fair value.

Foreign Currency Translation

The Companys functional currency and
its reporting currency is the United States dollar and foreign currency
transactions are primarily undertaken in Canadian dollars. Monetary balance
sheet items expressed in foreign currencies are translated into US dollars at
the exchange rates in effect at the balance sheet date. Non-monetary assets and
liabilities are translated at historical rates. Revenues and expenses are
translated at average rates for the period. Gains and losses arising on
translation or settlement of foreign currency denominated transactions or
balances are included in the determination of income.

Revenue Recognition

The Company recognizes revenue in
accordance with ASC 605, Revenue Recognition. Revenue consists of streaming
advertising services. Revenue is recognized only when the price is fixed or
determinable, persuasive evidence of an arrangement exists, the service is
performed, and collectability is reasonably assured.

Loss Per Share

The Company computes net income (loss)
per share in accordance with ASC 260, "Earnings per Share" which requires
presentation of both basic and diluted earnings per share (EPS) on the face of
the income statement. Basic EPS is computed by dividing net income (loss)
available to common shareholders (numerator) by the weighted average number of
shares outstanding (denominator) during the period. Diluted EPS gives effect to
all dilutive potential common shares outstanding during the period using the
treasury stock method and convertible preferred stock using the if-converted
method. In computing diluted EPS, the average stock price for the period is used
in determining the number of shares assumed to be purchased from the exercise of
stock options or warrants. Diluted EPS excludes all dilutive potential shares if
their effect is anti-dilutive

Income Taxes

The Company accounts for income taxes
using the asset and liability method in accordance with ASC 740, Income Taxes.
The asset and liability method provides that deferred tax assets and liabilities
are recognized for the expected future tax consequences of temporary differences
between the financial reporting and tax bases of assets and liabilities, and for
operating loss and tax credit carryforwards. Deferred tax assets and liabilities
are measured using the currently enacted tax rates and laws that will be in
effect when the differences are expected to reverse. The Company records a
valuation allowance to reduce deferred tax assets to the amount that is believed
more likely than not to be realized. As of March 31, 2011 and 2010, the Company
did not have any amounts recorded pertaining to uncertain tax positions.

The Company files federal, state and
local income tax returns in the US, as applicable. For US income tax returns,
the open taxation years range from 2008 to 2010. In certain circumstances, the
US federal statute of limitations can reach beyond the standard three year
period. US state statutes of limitations for income tax assessment vary from
state to state. Tax authorities of the US have not audited any of the Companys,
or its subsidiaries, income tax returns for the open taxation years noted
above.

The Company recognizes interest and
penalties related to uncertain tax positions in tax expense. During the years
ended March 31, 2011 and 2010, there were no charges for interest or
penalties.

F-7

---

|CONVENIENCE TV INC.                           
|----------------------------------------------
|(formerly Costa Rica Paradise Inc.)           
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|March 31, 2011                                
|(Expressed in US dollars)                     

|2. | Summary of Significant Accounting Principles
      (continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Comprehensive Loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | ASC 220, Comprehensive Income, establishes standards
      for the reporting and display of comprehensive loss and its components in
      the financial statements. As at March 31, 2011 and 2010, the Company had
      no items representing comprehensive income or loss.                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Financial Instruments and Fair Value
    Measures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | ASC 820, Fair Value Measurements and Disclosures
      require an entity to maximize the use of observable inputs and minimize
      the use of unobservable inputs when measuring fair value. ASC 820
      establishes a fair value hierarchy based on the level of independent,
      objective evidence surrounding the inputs used to measure fair value. A
      financial instruments categorization within the fair value hierarchy is
      based upon the lowest level of input that is significant to the fair value
      measurement. ASC 820 prioritizes the inputs into three levels that may be
      used to measure fair value:

Level 1

Level 1 applies to assets or
liabilities for which there are quoted prices in active markets for identical
assets or liabilities.

Level 2

Level 2 applies to assets or
liabilities for which there are inputs other than quoted prices that are
observable for the asset or liability such as quoted prices for similar assets
or liabilities in active markets; quoted prices for identical assets or
liabilities in markets with insufficient volume or infrequent transactions (less
active markets); or model-derived valuations in which significant inputs are
observable or can be derived principally from, or corroborated by, observable
market data.

Level 3

Level 3 applies to assets or
liabilities for which there are unobservable inputs to the valuation methodology
that are significant to the measurement of the fair value of the assets or
liabilities.

The Companys financial instruments
consist principally of cash, accounts payable, accrued liabilities, amounts due
to/from related party, and convertible debt. Pursuant to ASC 820, the fair value
of cash is determined based on Level 1 inputs, which consist of quoted prices
in active markets for identical assets. The recorded values of all other
financial instruments approximate their current fair values because of their
nature and respective maturity dates or durations.

Recent Accounting
Pronouncements

In January 2010, the FASB issued an
amendment to ASC 820, Fair Value Measurements and Disclosures, to require
reporting entities to separately disclose the amounts and business rationale for
significant transfers in and out of Level 1 and Level 2 fair value measurements
and separately present information regarding purchase, sale, issuance, and
settlement of Level 3 fair value measures on a gross basis. The adoption of this
standard on April 1, 2010, with the exception of disclosures regarding the
purchase, sale, issuance, and settlement of Level 3 fair value measures which
are effective for fiscal years beginning after December 15, 2010, did not have a
material effect on the Companys consolidated financial statements. The adoption
of the remainder of the standard is not expected to have a material effect on
the Companys consolidated financial statements.

The Company has implemented all new
accounting pronouncements that are in effect and that may impact its financial
statements and does not believe that there are any other new accounting
pronouncements that have been issued that might have a material impact on its
financial position or results of operations.

F-8

---

|CONVENIENCE TV INC.                           
|----------------------------------------------
|(formerly Costa Rica Paradise Inc.)           
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|March 31, 2011                                
|(Expressed in US dollars)                     

|3. | Property and Equipment
|-- | ----------------------

| |                    |  |         |  |  |              |  |  | 2011         |  |  | 2010         | 
| | ------------------ |  | ------- |  |  | ------------ |  |  | ------------ |  |  | ------------ | 
| |                    |  |         |  |  | Accumulated  |  |  | Net Carrying |  |  | Net Carrying | 
| |                    |  | Cost    |  |  | Amortization |  |  | Value        |  |  | Value        | 
| |                    |  | $       |  |  | $            |  |  | $            |  |  | $            | 
| | Computer equipment |  | 16,147  |  |  | 14,630       |  |  | 1,517        |  |  | 6,899        | 
| | Equipment          |  | 139,669 |  |  | 104,046      |  |  | 35,623       |  |  | 82,179       | 
| |                    |  | 155,816 |  |  | 118,676      |  |  | 37,140       |  |  | 89,078       | 

|4. | Acquisition of C-Store Network, LLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | On April 1, 2010, the Company entered into an acquisition
      agreement (the Acquisition Agreement) with Global Fusion Media Inc.
      ("Global Fusion"), a company incorporated under the laws of British
      Columbia, Canada. The Company agreed to acquire 100% of C-Store Network,
      LLC ("C-Store") from Global Fusion in exchange for 36,000,000 shares of
      common stock (the "Acquisition"). On May 5, 2010 the transactions
      contemplated by the Acquisition Agreement closed. C-Store is a media and
      advertising company which focuses on direct advertising to customers in
      convenience stores through North America.                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | Global Fusion held 67% of the total issued and
      outstanding common shares of the Company immediately following the
      Acquisition. The Acquisition was a capital transaction in substance and
      therefore has been accounted for as a recapitalization, which is outside
      the scope ASC 805, Business Combinations. Under recapitalization
      accounting, C-Store is considered the acquirer for accounting and
      financial reporting purposes, and acquired the assets and assumed the
      liabilities of the Company. Assets acquired and liabilities assumed are
      reported at their historical amounts. These consolidated financial
      statements include the accounts of the Company since the effective date of
      the recapitalization and the historical accounts of the business of
      C-Store since inception.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|5. | Convertible Debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

The Company paid $5,500 in financing
costs relating to this convertible debt. As at March 31, 2011, the Company had
deferred financing costs of $3,472.

F-9

---

|CONVENIENCE TV INC.                           
|----------------------------------------------
|(formerly Costa Rica Paradise Inc.)           
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|March 31, 2011                                
|(Expressed in US dollars)                     

|6. | Related Party Transactions
|-- | --------------------------
|   |                           
|   | (a)                       
|   |                           
|   | (b)                       
|   |                           
|   | (c)                       
|   |                           
|   | (d)                       
|   |                           
|7. | Common Stock              
|   |                           
|   | (a)                       
|   |                           
|   | (b)                       
|   |                           
|   | (c)                       
|   |                           
|   | (d)                       
|   |                           
|   | (e)                       
|   |                           
|   | (f)                       
|   |                           
|8. | Income Taxes              

The Company is subject to United States
federal and state income taxes at an approximate rate of 35% (2010  35%). The
reconciliation of the provision for income taxes at the United States federal
and state statutory rate compared to the Companys income tax recovery as
reported is as follows:

| |                                                          |  | 2011     |   |  | 2010   |  
| | -------------------------------------------------------- |  | -------- | - |  | ------ | -
| |                                                          |  | $        |   |  | $      |  
| |                                                          |  |          |   |  |        |  
| | Income tax recovery computed at the
      statutory rate |  | (164,024 | ) |  | (3,995 | )
| | Change in
      valuation allowance                      |  | 164,024  |   |  | 3,995  |  
| |                                                          |  |          |   |  |        |  
| | Income tax
      provision                               |  |         |   |  |       |  

Deferred income taxes reflect the net
tax effects of temporary differences between the carrying amounts of assets and
liabilities for financial reporting purposes and the amounts used for income tax
purposes. Deferred income taxes arise from components of deferred income tax
assets and liabilities at March 31, 2011 and 2010 are as follows:

| |                                      |  | 2011     |   |  | 2010    |  
| | ------------------------------------ |  | -------- | - |  | ------- | -
| |                                      |  | $        |   |  | $       |  
| |                                      |  |          |   |  |         |  
| | Deferred income tax assets           |  |          |   |  |         |  
| | Net operating losses carried forward |  | 179,758  |   |  | 15,734  |  
| | Valuation allowance                  |  | (179,758 | ) |  | (15,734 | )
| |                                      |  |          |   |  |         |  
| | Net deferred income tax assets       |  |         |   |  |        |  

The Company has net operating losses
carried forward of $513,594 available to offset taxable income in future years
which expires in fiscal 2030.

F-10

---

|CONVENIENCE TV INC.                           
|----------------------------------------------
|(formerly Costa Rica Paradise Inc.)           
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|March 31, 2011                                
|(Expressed in US dollars)                     

|9. | Subsequent Event                                                                                                                                                       
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                        
|   | On June 10, 2011, the Company issued 1,690,141 shares of
      common stock pursuant to the conversion of $12,000 of the convertible note
      described in Note 5(a).

F-11

---

|Item 9. | Changes in and Disagreements With
      Accountants on Accounting and Financial Disclosure
|------- | ------------------------------------------------------------------------------------------

There were no disagreements with our accountants related to
accounting principles or practices, financial statement disclosure, internal
controls or auditing scope or procedure during the two fiscal years and
subsequent interim periods.

|Item 9A. | Controls and Procedures
|-------- | -----------------------

Our management, with the participation of our principal
executive officer (CEO) and principal financial officer (CFO), evaluated the
effectiveness of our disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934,
as amended ( the Exchange Act)) as of the end of the period covered by this
report. Based on this evaluation, the CEO and CFO have concluded that, as of the
end of such period, our disclosure controls and procedures were not effective to
ensure that information that is required to be disclosed by us in the reports we
file or submit under the Exchange Act is (i) recorded, processed, summarized and
reported, within the time periods specified in the SECs rules and forms and
(ii) accumulated and communicated to our management, including the CEO and CFO,
as appropriate, to allow timely decisions regarding required disclosure. The
reasons for this finding were the weaknesses in our internal control over
financial reporting enumerated below.

Managements Annual Report on Internal Control over
Financial Reporting.

Our management is responsible for establishing and maintaining
adequate internal control over financial reporting. Our Chief Executive Officer
and Chief Financial Officer conducted an evaluation of the effectiveness of our
internal control over financial reporting as of March 31, 2011 using the
criteria established in Internal ControlIntegrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO).

A material weakness is a deficiency, or combination of
deficiencies, in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the Companys annual or
interim financial statements will not be prevented or detected on a timely
basis. In its assessment of the effectiveness of internal control over financial
reporting as of March 31, 2011, the Company determined that there were control
deficiencies that constituted material weaknesses, as described below:

| | 1. | We do not employ an independent audit committee - While
      not being legally obligated to have an independent audit committee, it is
      our company's Management view that such a committee, including a financial
      expert member, is an utmost important entity-level control over our
      company's financial statements. Currently the Board of Directors consists
      of a two members who are not independent of management and lack sufficient
      financial expertise for overseeing financial reporting responsibilities.
      As a result, an effective independent audit committee cannot be
      established until the number of directors is increased and qualified
      members are appointed.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | 2. | We did not maintain proper segregation of duties
      consistent with control objectives.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | 3. | Ineffective controls over period end financial
      disclosures and reporting processes.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

Accordingly, our company concluded that these control
deficiencies resulted in a reasonable possibility that a material misstatement
of the annual or interim financial statements will not be prevented or detected
on a timely basis by our company's internal controls.

Saturna Group Chartered Accountants LLP, our independent
registered public auditors, was not required to and has not issued an
attestation report concerning the effectiveness of our internal control over
financial reporting as of March 31, 2011 pursuant to temporary rules of the
Securities and Exchange Commission that permit our company to provide only
managements report in this annual report.

16

---

Changes in Internal Controls.

During the period ended March 31, 2011, there were no changes
in our internal control over financial reporting that materially affected, or
are reasonably likely to materially affect, our internal control over financial
reporting.

|Item 9B. | Other Information
|-------- | -----------------

In connection with the closing of the share exchange, on May 5,
2010 we changed our fiscal year end to March 31. The acquisition of C-Store is
deemed to be a reverse acquisition for accounting purposes, with C-Store, the
acquired entity, regarded as the predecessor entity as of May 5, 2010.

PART III

|Item 10. | Directors, Executive Officers and Corporate
      Governance
|-------- | ------------------------------------------------------------

All directors of our company hold office until the next annual
meeting of the security holders or until their successors have been elected and
qualified. The officers of our company are appointed by our board of directors
and hold office until their death, resignation or removal from office. Our
directors and executive officers, their ages, positions held, and duration as
such, are as follows:

Name
    Position
      Held with the Company
    Age
    Date First Elected or
      AppointedNorman Knowles
    President, Chief Executive
      Officer and Director
    56
    April 9, 2010Greg Trevor
    Chief Financial
      Officer, Treasurer, Secretary and Director
    64
    April 9, 2010


Business Experience

The following is a brief account of the education and business
experience during at least the past five years of each director, executive
officer and key employee of our company, indicating the persons principal
occupation during that period, and the name and principal business of the
organization in which such occupation and employment were carried out.

Norman Knowles, President, Chief Executive Officer and
Director

Mr. Knowles has spent the last 20 years developing
location-based networks within the retail and hospitality industries. Mr.
Knowles extended this expertise through a company he co-founded, Your Choice
Networks, which delivered an entertainment and advertising platform to the Quick
Serve Restaurant (QSR) industry. For the past several years he has consulted and
developed content and advertising strategies for emerging location-based
networks. Mr. Knowles has owned and operated and continues to be employed by
Universal Distributing Co. Ltd. a private distribution and consulting company
since 1976. From December 2004 through April 2005 Mr. Knowles was engaged as a
consultant for and partner in Your Choice Network LLC., from April 2005 through
September 2007 Mr. Knowles was a shareholder and consultant to Fusion Media
Inc., a privately held advertising company. After leaving Fusion Media Inc., Mr.
Knowles helped with the founding of Global Fusion Media Inc., a privately held
media company where he was appointed as the President and Chief Executive
Officer, and with which we entered into a an acquisition agreement on April 1,
2010.

Greg Trevor, Chief Financial Officer, Secretary,
Treasurer and Director

Mr. Trevor is an honors graduate from the University of
Victoria in British Columbia, Canada. He is 63 years old. His background
includes: 15 years of financial services experience with Canadian institutions,
and 12 years as an agent and marketer for clients in the toy and game industry.
His role encompassed all aspects of the production, distribution, marketing and
sales processes. Since his retirement in 1999, he has taken on various
consulting roles. From 2001 to 2003, a Canadian company in Lagos, Nigeria hired
him to administer an 80 member multinational staff where he acted as Corporate
Liaison to senior business, financial and government leaders during the
implementation of a property tax program for the State Government. In 2004, he
consulted on a building project in Dubai, UAE. In 2005 he returned to Canada
where he consulted to a private leasing firm. Since July 2006, has consulted to
Global Fusion Media Inc., privately held media company with which we entered
into an acquisition agreement on April 1, 2010, on their C-Store "Captive
Audience" TV Network project.

17

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Family Relationships

There are no family relationships between any of our directors,
executive officers and proposed directors or executive officers.

Conflicts of Interest

Our directors are not obligated to commit their full time and
attention to our business and, accordingly, they may encounter a conflict of
interest in allocating their time between our operations and those of other
businesses. In the course of their other business activities, they may become
aware of investment and business opportunities which may be appropriate for
presentation to us as well as other entities to which they owe a fiduciary duty.
As a result, they may have conflicts of interest in determining to which entity
a particular business opportunity should be presented. They may also in the
future become affiliated with entities that are engaged in business activities
similar to those we intend to conduct.

In general, officers and directors of a corporation are
required to present business opportunities to the corporation if:

- the corporation could financially undertake the opportunity;
- the opportunity is within the corporations line of business; and
- it would be unfair to the corporation and its stockholders not to bring the
  opportunity to the attention of the corporation.

We have adopted a code of ethics that obligates our directors,
officers and employees to disclose potential conflicts of interest and prohibits
those persons from engaging in such transactions without our consent.

Involvement in Certain Legal Proceedings

None of our directors, executive officers, promoters or control
persons has been involved in any of the following events during the past ten
years:

1. A petition under the Federal bankruptcy laws or any state
insolvency law was filed by or against, or a receiver, fiscal agent or similar
officer was appointed by a court for the business or property of such person, or
any partnership in which he was a general partner at or within two years before
the time of such filing, or any corporation or business association of which he
was an executive officer at or within two years before the time of such
filing;

2. Such person was convicted in a criminal proceeding or is a
named subject of a pending criminal proceeding (excluding traffic violations and
other minor offenses);

3. Such person was the subject of any order, judgment, or
decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining him from, or
otherwise limiting, the following activities:

| | i. | Acting as a futures commission merchant, introducing
      broker, commodity trading advisor, commodity pool operator, floor broker,
      leverage transaction merchant, any other person
regulated by the Commodity Futures Trading Commission, or an
      associated person of any of the foregoing, or as an investment adviser,
      underwriter, broker or dealer in securities, or as an affiliated person,
      director or employee of any investment company, bank, savings and loan
      association or insurance company, or engaging in or continuing any conduct
  or practice in connection with such activity
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

18

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| | ii.  | Engaging in any type of business practice; or                                                                                                                                                                   
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                 
| | iii. | Engaging in any activity in connection with the purchase
      or sale of any security or commodity or in connection with any violation
      of Federal or State securities laws or Federal commodities
  laws;

4. Such person was the subject of any order, judgment or
decree, not subsequently reversed, suspended or vacated, of any Federal or State
authority barring, suspending or otherwise limiting for more than 60 days the
right of such person to engage in any activity described in paragraph (f)(3)(i)
of this section, or to be associated with persons engaged in any such
activity;

5. Such person was found by a court of competent jurisdiction
in a civil action or by the Commission to have violated any Federal or State
securities law, and the judgment in such civil action or finding by the
Commission has not been subsequently reversed, suspended, or vacated;

6. Such person was found by a court of competent jurisdiction
in a civil action or by the Commodity Futures Trading Commission to have
violated any Federal commodities law, and the judgment in such civil action or
finding by the Commodity Futures Trading Commission has not been subsequently
reversed, suspended or vacated;

7. Such person was the subject of, or a party to, any Federal
or State judicial or administrative order, judgment, decree, or finding, not
subsequently reversed, suspended or vacated, relating to an alleged violation
of:

| | i.   | Any Federal or State securities or commodities law or
      regulation; or                                                                                                                                                                                                                                                
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                           
| | ii.  | Any law or regulation respecting financial institutions
      or insurance companies including, but not limited to, a temporary or
      permanent injunction, order of disgorgement or restitution, civil money
      penalty or temporary or permanent cease-and-desist order, or removal or
      prohibition order; or
| |      |                                                                                                                                                                                                                                                                                                                           
| | iii. | Any law or regulation prohibiting mail or wire fraud or
      fraud in connection with any business entity; or                                                                                                                                                                                                            

8. Such person was the subject of, or a party to, any sanction
or order, not subsequently reversed, suspended or vacated, of any
self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act
(15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29)
of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange,
association, entity or organization that has disciplinary authority over its
members or persons associated with a member.

Compliance with Section 16(a) of the Securities Exchange Act
of 1934

Section 16(a) of the Securities Exchange Act of 1934 requires
our executive officers and directors and persons who own more than 10% of our
common stock to file with the Securities and Exchange Commission initial
statements of beneficial ownership, reports of changes in ownership and annual
reports concerning their ownership of our common stock and other equity
securities, on Forms 3, 4 and 5 respectively. Executive officers, directors and
greater than 10% shareholders are required by the SEC regulations to furnish us
with copies of all Section 16(a) reports that they file.

Based solely on the reports received by our company and on
written representations from certain reporting persons, we believe that the
directors, executive officers and persons who beneficially own more than 10% of
our companys common stock during the fiscal year ended March 31, 2011 have been
in compliance with Section 16(a).

19

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Code of Ethics

We have adopted a Code of Ethics that applies to, among other
persons, members of our board of directors, our company's officers including our
president, chief executive officer and chief financial officer, employees,
consultants and advisors.

We believe our code of ethics is reasonably designed to deter
wrongdoing and promote honest and ethical conduct; provide full, fair, accurate,
timely and understandable disclosure in public reports; comply with applicable
laws; ensure prompt internal reporting of code violations; and provide
accountability for adherence to the code.

Our Code of Ethics was being filed with the Securities and
Exchange Commission as Exhibit 14.1 to our annual report on Form 10-K for our
year ended December 31, 2009. We will provide a copy of the Code of Business
Conduct and Ethics to any person without charge, upon request. Requests can be
sent to: Convenience TV Inc., 248 Main Street, Venice, CA 90291.

Committees of the Board

All proceedings of our board of directors were conducted by
resolutions consented to in writing by all the directors and filed with the
minutes of the proceedings of the directors. Such resolutions consented to in
writing by the directors entitled to vote on that resolution at a meeting of the
directors are, according to the corporate laws of the state of Nevada and the
bylaws of our company, as valid and effective as if they had been passed at a
meeting of the directors duly called and held.

Our audit committee consists of our entire board of
directors.

Our company currently does not have nominating, compensation
committees or committees performing similar functions nor does our company have
a written nominating, compensation or audit committee charter. Our board of
directors does not believe that it is necessary to have such committees because
it believes that the functions of such committees can be adequately performed by
our directors.

Our company does not have any defined policy or procedure
requirements for shareholders to submit recommendations or nominations for
directors. The directors believe that, given the early stage of our development,
a specific nominating policy would be premature and of little assistance until
our business operations develop to a more advanced level. Our company does not
currently have any specific or minimum criteria for the election of nominees to
the board of directors and we do not have any specific process or procedure for
evaluating such nominees. Our directors assess all candidates, whether submitted
by management or shareholders, and make recommendations for election or
appointment.

A shareholder who wishes to communicate with our board of
directors may do so by directing a written request addressed to our President,
at the address appearing on the first page of this annual report.

Audit Committee and Audit Committee Financial Expert

Our board of directors has determined that none of the members
of our audit committee qualifies as an "audit committee financial expert" as
defined in Item 407(d)(5)(ii) of Regulation S-K, and is "independent" as the
term is used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange
Act of 1934, as amended.

We believe that the members of our board of directors are
collectively capable of analyzing and evaluating our financial statements and
understanding internal controls and procedures for financial reporting. We
believe that retaining an independent director who would qualify as an "audit
committee financial expert" would be overly costly and burdensome and is not
warranted in our circumstances given the early stages of our development and the
fact that we have not generated any material revenues to date. In addition, we
currently do not have nominating, compensation or audit committees or committees
performing similar functions nor do we have a written nominating, compensation or audit committee charter. Our board of directors
does not believe that it is necessary to have such committees because it
believes the functions of such committees can be adequately performed by our
board of directors.

20

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|Item 11. | Executive Compensation
|-------- | ----------------------

The particulars of the compensation paid to the following
persons:

- our principal executive officer;
- each of our two most highly compensated executive officers who were serving
  as executive officers at the end of the years ended March 31, 2011 and 2010;
  and
- up to two additional individuals for whom disclosure would have been
  provided under (b) but for the fact that the individual was not serving as our
  executive officer at the end of the years ended March 31, 2011 and 2010,

who we will collectively refer to as the named executive
officers of our company, are set out in the following summary compensation
table, except that no disclosure is provided for any named executive officer,
other than our principal executive officers, whose total compensation did not
exceed $100,000 for the respective fiscal year:

SUMMARY COMPENSATION
      TABLEName
      and Principal Position
    Year
    Salary
      ($)
    Bonus
      ($)
    Stock
      Awards ($)
    Option
      Awards ($)
    Non-Equity
      Incentive Plan Compensa- tion
      ($)
    Change in Pension
      Value and Nonqualified Deferred
      CompensationEarnings ($)
    All Other
      **Compensa-** tion ($)
    Total
      ($)Norman
      Knowles(1)President, Chief
      Executive Officer and Director
    2011 2010
    57,000 N/A
    Nil N/A
    Nil N/A
    Nil N/A
    Nil N/A
    Nil N/A
    Nil N/A
    57,000 N/AGreg Trevor(2)Chief
      Financial Officer, Treasurer, Secretary and
      Director
    2011 2010
    57,000 N/A
    Nil N/A
    Nil N/A
    Nil N/A
    Nil N/A
    Nil N/A
    Nil N/A
    57,000 N/ARhonda Esparza(3)Former President, Chief Executive Officer,
      Chief Financial Officer, Secretary,
      Treasurer and Director
    2011 2010
    Nil Nil
    Nil Nil
    Nil Nil
    Nil Nil
    Nil Nil
    Nil Nil
    Nil Nil
    Nil Nil


|(1) | Mr. Knowles was appointed president, chief executive
      officer and director of our company on April 9, 2010.                                    
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                     
|(2) | Mr. Trevor was appointed chief financial officer,
      treasurer, secretary and director on April 9, 2010.                                         
|    |                                                                                                                                                     
|(3) | Ms. Esparza resigned as president, chief executive
      officer, chief financial officer, treasurer, secretary and director on
      April 9, 2010.

21

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Other than as set out below, there are no arrangements or plans
in which we provide pension, retirement or similar benefits for directors or
executive officers. Our directors and executive officers may receive share
options at the discretion of our board of directors in the future. We do not
have any material bonus or profit sharing plans pursuant to which cash or
non-cash compensation is or may be paid to our directors or executive officers,
except that share options may be granted at the discretion of our board of
directors.

Stock Option Plan

Currently, we do not have a stock option plan in favor of any
director, officer, consultant or employee of our company.

Stock Options/SAR Grants

No equity or non-equity awards were granted to our named
executives during the year ended March 31, 2011.

Outstanding Equity Awards at Fiscal Year End

There were no equity awards outstanding as at March 31,
2011.

Option Exercises

During our Fiscal year ended March 31, 2011 there were no
options exercised by our named officers.

Compensation of Directors

We do not have any agreements for compensating our directors
for their services in their capacity as directors, although such directors are
expected in the future to receive stock options to purchase shares of our common
stock as awarded by our board of directors.

We have determined that we do not have an independent director,
as that term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the
Securities Exchange Act of 1934, as amended, and as defined by Rule
4200(a)(15) of the NASDAQ Marketplace Rules.

Pension, Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide pension,
retirement or similar benefits for directors or executive officers. We have no
material bonus or profit sharing plans pursuant to which cash or non-cash
compensation is or may be paid to our directors or executive officers, except
that stock options may be granted at the discretion of the board of directors or
a committee thereof.

Indebtedness of Directors, Senior Officers, Executive
Officers and Other Management

None of our directors or executive officers or any associate or
affiliate of our company during the last two fiscal years, is or has been
indebted to our company by way of guarantee, support agreement, letter of credit
or other similar agreement or understanding currently outstanding.

Family Relationships

There are no family relationships between any of our executive
officers or directors.

22

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|Item 12. | Security Ownership of Certain Beneficial
      Owners and Management and Related Stockholder **Matters**
|-------- | --------------------------------------------------------------------------------------------------------

The following table sets forth, as of June 27, 2011, certain
information with respect to the beneficial ownership of our common shares by
each shareholder known by us to be the beneficial owner of more than 5% of our
common shares, as well as by each of our current directors and executive
officers as a group. Each person has sole voting and investment power with
respect to the shares of common stock, except as otherwise indicated. Beneficial
ownership consists of a direct interest in the shares of common stock, except as
otherwise indicated.

Name and Address of Beneficial
      Owner
    Amount and Nature of Beneficial
      Ownership
    Percentage of
      Class(1)Global Fusion Media Inc. (2)2099 Lansdowne Rd. Victoria, BC V8P 1B4
    18,000,000
    31%Jatco Holdings Inc. 500  645 Fort St.
      Victoria, BC V8W 4G2
    1,752,629(3)
    3%Norman Knowles #8  10171 No. 1 Road
      Richmond, BC V7E 1S1
    3,200,158(4)
    5.5%Rhythm Records Inc. 2099 Lansdowne Rd.
      Victoria, BC V8P 1B4
    4,566,124
    8%Directors and Executive Officers as a
      Group
    22,952,787
    39.7%


| | (1) | Based on 57,760,141 shares of common stock issued and
      outstanding as of June 27, 2011. Beneficial ownership is determined in
      accordance with the rules of the SEC and generally includes voting and
      investment power with respect to securities. Except as otherwise
      indicated, we believe that the beneficial owners of the common stock
      listed above, based on information furnished by such owners, have sole
      investment and voting power with respect to such shares, subject to
      community property laws where applicable.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | (2) | Greg Trevor and Norman Knowles, our directors and
      officers, are also directors and officers of Global Fusion and are the
      beneficial owners and have voting control over 18,000,000 shares of our
      common stock.                                                                                                                                                                                                                                                                                                                                        
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | (3) | Greg Trevor, our Secretary and Chief Financial Officer
      indirectly holds 1,752,629 shares of our common stock registered in the
      name of Jatco Holdings Inc.                                                                                                                                                                                                                                                                                                                                                                                                  
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | (4) | Norman Knowles, together with his wife Sandra Knowles,
      are the beneficial owners and have voting control of 3,200,158 shares of
      our common stock. Mrs. Knowles personally owns 1,000,000 shares and Mr.
      Knowles owns 2,200,158.                                                                                                                                                                                                                                                                                                                       

Changes in Control

We are unaware of any contract or other arrangement or
provisions of our Articles or Bylaws the operation of which may at a subsequent
date result in a change of control of our company. There are not any provisions
in our Articles or Bylaws, the operation of which would delay, defer, or prevent
a change in control of our company.

23

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|Item 13. | Certain Relationships and Related
      Transactions, and Director Independence
|-------- | -------------------------------------------------------------------------------

Except as disclosed herein, no director, executive officer,
shareholder holding at least 5% of shares of our common stock, or any family
member thereof, had any material interest, direct or indirect, in any
transaction, or proposed transaction since the year ended March 31, 2011, in
which the amount involved in the transaction exceeded or exceeds the lesser of
$120,000 or one percent of the average of our total assets at the year end for
the last three completed fiscal years.

Director Independence

We currently act with two directors, consisting of Norman
Knowles and Greg Trevor.

Our audit committee consists of our entire board of
directors.

We do not have a standing compensation or nominating committee,
but our entire board of directors acts in such capacities.

|Item 14. | Principal Accounting Fees and Services
|-------- | --------------------------------------

The aggregate fees billed for the most recently completed
fiscal year ended March 31, 2011 and for the fiscal year ended March 31, 2010
for professional services rendered by the principal accountant for the audit of
our annual financial statements and review of the financial statements included
in our quarterly reports on Form 10-Q and services that are normally provided by
the accountant in connection with statutory and regulatory filings or
engagements for these fiscal periods were as follows:

Year EndedMarch 31, 2011 $
    March 31, 2010 $Audit Fees
    14,250
    5,250Audit Related Fees
    nil
    nilTax Fees
    nil
    nilAll Other Fees
    nil
    nilTotal
    14,250
    5,250


Our board of directors pre-approves all services provided by
our independent auditors. All of the above services and fees were reviewed and
approved by the board of directors either before or after the respective
services were rendered.

Our board of directors has considered the nature and amount of
fees billed by our independent auditors and believes that the provision of
services for activities unrelated to the audit is compatible with maintaining
our independent auditors independence.

PART IV

|Item 15. | Exhibits, Financial Statement Schedules
|-------- | ---------------------------------------

|(a) | Financial Statements
|--- | --------------------
|    |                     
|    | (1)                 
|    |                     
|    | (2)                 

24

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|(b) | Exhibits
|--- | --------

|Exhibit No. | Document Description                                                                                                                                                                            
|----------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(2)         | Plan of acquisition, reorganization,
      arrangement, liquidation or succession                                                                                                               
|2.1         | Acquisition Agreement with Global Fusion Media
      Inc., dated April 1, 2010 (incorporated by reference to our Current Report
      on Form 8-K filed on May 11, 2010).                       
|(3)         | (i) Articles
        of Incorporation; (ii) By-laws                                                                                                                                             
|3.1         | Articles of Incorporation (incorporated
        by reference to our Current Report on Form S-1 filed on February 2, 2009).                                                                      
|3.2         | By-laws (incorporated
        by reference to our Current Report on Form S-1 filed on February 2, 2009).                                                                                        
|3.3         | Certificate of Amendment filed
        with the Nevada Secretary of State on May 4, 2010 (incorporated by reference
        to our Current Report on Form S-1 filed on February 2, 2009).       
|(10)        | Material Contracts                                                                                                                                                                              
|10.1        | Acquisition Agreement between
        our company and Global Fusion Media Inc. dated April 1, 2010 (incorporated
        by reference to our Current Report on Form 8-K filed on April 9, 2010).
|10.2        | Share Cancellation
        Agreement with Rhonda Esparza dated May 4, 2010 (incorporated by reference
        to our Current Report on Form 10-Q filed on May 18, 2010).                        
|(14)        | Code of Ethics                                                                                                                                                                                  
|14.1        | Code of Ethics
        (incorporated by reference to our Current Report on Form 10-K filed on
        March 31, 2010).                                                                          
|(21)        | Subsidiaries of Registrant                                                                                                                                                                      
|21.1        | C-Store Networks
        LLC                                                                                                                                                                    
|(31)        | Rule 13a-14(a)/15d-14(a) Certifications                                                                                                                                                         
|31.1*       | Section
        302 Certifications under Sarbanes-Oxley Act of 2002 of Norman Knowles.                                                                                                          
|31.2*       | Section
        302 Certifications under Sarbanes-Oxley Act of 2002 of Greg Trevor.                                                                                                             
|(32)        | Section 1350
        Certifications                                                                                                                                                             
|32.1*       | Section
        906 Certifications under Sarbanes-Oxley Act of 2002 of Norman Knowles.                                                                                                          
|32.2*       | Section
        906 Certifications under Sarbanes-Oxley Act of 2002 of Greg Trevor.                                                                                                             

|* | Filed herewith.
|- | ---------------

25

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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,
thereunto duly authorized.

|                     | CONVENIENCE TV INC.                                    
|-------------------- | -------------------------------------------------------
|                     | (Registrant)                                           
|                     |                                                        
|                     |                                                        
|Dated: June 29, 2011 | /s/
      Norman Knowles                               
|                     | Norman Knowles                                         
|                     | President, Chief Executive Officer and Director        
|                     | (Principal Executive Officer)                          
|                     |                                                        
|Dated: June 29, 2011 | /s/
      Greg Trevor                                  
|                     | Greg Trevor                                            
|                     | Chief Financial Officer, Secretary, Treasurer
      and
|                     | Director                                               
|                     | (Principal Financial Officer and Principal             
|                     | Accounting Officer)                                    

Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on behalf of
the registrant and in the capacities and on the dates indicated.

|Dated: June 29, 2011 | /s/
      Norman Knowles                               
|-------------------- | -------------------------------------------------------
|                     | Norman Knowles                                         
|                     | President, Chief Executive Officer and Director        
|                     | (Principal Executive Officer)                          
|                     |                                                        
|Dated: June 29, 2011 | /s/
      Greg Trevor                                  
|                     | Greg Trevor                                            
|                     | Chief Financial Officer, Secretary, Treasurer
      and
|                     | Director                                               
|                     | (Principal Financial Officer and Principal             
|                     | Accounting Officer)                                    

26

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