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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549 FORM 20-F/A VIRTUAL MEDIA HOLDINGS INC. 
FILE NO. 333-70836 **[   ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF**THE SECURITIES EXCHANGE ACT OF 1934 OR [ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934, for the fiscal year ended: JUNE 30, 2007 OR [   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934, for the transition period from OR **[   ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**SECURITIES EXCHANGE ACT OF 1934 VIRTUAL MEDIA HOLDINGS INC.(Exact name of registrant as specific in its charter) Province of British Columbia, Canada(Jurisdiction of incorporation or organization) 40218 Wellsline Road 
Abbotsford, British Columbia 
Canada V3G 2K7(Address of principal executive offices, including Postal Code) Registrants area code and telephone number: (604) 807 4957 Name of each exchange on which registered: None Securities to be registered pursuant to Section 12(g) of the Act: Title of each class:None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. Title of each class: Common Stock The number of shares of common stock outstanding at December 18, 2007 is 96,347,042 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 past 90 days. [ X ] YES [   ] NO Indicate by check mark which financial statement item the registrant has elected to follow: [ X ] ITEM 17 [   ] ITEM 18 (APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)


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Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. [ X ]YES [   ] NO EXHIBIT INDEX BEGINS ON PAGE . INTRODUCTION We were incorporated pursuant to the Company Act (British Columbia) on August 24, 1989. We are a Internet based sales company engaged sale of products over the Internet. We commenced operations on August 24, 1989. We publish our financial statements expressed in US Dollars and prepare a compilation statement to comply with U.S. GAAP. In this document, references to US dollars or US$ are to the currency of the United States of America. Our fiscal year ends on June 30 of each year. References in this document to a particular year are to the fiscal year unless otherwise indicated. ITEM 3 KEY INFORMATION Management Discussion and Analysis We are filing financial statements for year end June 30, 2007. Current management took over operation of the Company effective January 2007. Management attempted to complete audits for 2006 and 2007. However, Dale Matheson Carr-Hilton Labonte (DMCL) retained to complete the audits would not sign off on audits. At the request of DMCL a forensic auditor was engaged. The forensic auditor from Meyers Norris Penney was unable to satisfactorily answer questions DMCL had, therefore they would not sign off on an unqualified audit. We are confident that no cash was used improperly, however, the issuance of shares and commingling of personal and business accounts by management caused concerns. The statements have been produced on a cash basis and we are confident that they reflect the true position of the Companys financial status. The Statements of Shareholder Equity includes an entry in the amount of $239,972 to reflect items written off for debt cancellations from prior periods. A complete review of the Companys operation confirmed that the DVD Marketplace was a failure in all aspects as it failed to provide any revenue to the Company. An effort was made to improve the business but it was apparent that any further pursuit of this business model would only produce negative results. The decision was made to close this business and write off any book value the site and technology had. A new business plan was still in development as of June 30, 2007 details will be included in the audited statements to be provided for 2008 and 2009 in the upcoming weeks. The following is a summary of shares issued for the fiscal year ended June 30, 2007. March 07 Jim Carroll, Len Klassen and Slawomir Kownacki each received one million shares to act as Directors and Officers of the Company. The shares were issued at current value of $0.015 and had a one year hold. March 07 John Faulkner Cornelius and Gary Joseph Solomon each received 60,000 shares at $0.03 for web design and programming.


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June 07 Cercan Communication received 250,000 shares with a one year hold @ $0.04 per share. The shares were issued under a contract to provide Investor Relations. Jan 07 John Faulkner Cornelius and Gary Joseph Solomon each received 161,543 shares @ $0.027 for programming and web design. Dec 24, 06 Brian Holden received 200,000 shares @ $0.015 private placement $3,000 Dec 15, 06 Brian Holden received 100,000 shares @ $0.02 for private placement $2,000 Dec 7, 06 John Faulkner Cornelius and Gary Joseph Solomon each received 95,135 shares @ $0.042 for web programming Dec 7, 06 Brian Holden received 250,000 shares @ $0.042 for services Dec 7, 06 Cal Kantonen received 1.5 million shares @ $0.037 $55,500 to assist in getting 2006 audit completed. Dec 1, 06 Brian Holden received 100,000 shares @ $0.02 for a private placement $2,000 Nov 16, 06 Joe Bassi received 385,647 to pay salary owed in amount of $15,000. Nov 16, 06 Jason Chan received 13,900 shares for $637.50 in programming. John Faulkner Cornelius and Gary Joseph Solomon each received 104,593 @ $0.043 for programming Nov 21, 06 Wilson Banks received 116,300 shares @ $0.043 Valued at $5,000 for graphic web design Oct 25, 06 Brian Holden received 2.4 million shares @ 0.035 for salary $84,000 Oct 9/06 John Faulkner Cornelius and Gary Joseph Solomon each received 59,623 shares @ $0.053 for programming. Oct 22, 06 Brian Holden received 200,000 shares @ $0.035 $7,000 as a bonus for finalizing partnership with IChapters.com, Textbooks.com both booksellers] Sept 14, 06 John Faulkner Cornelius and Gary Joseph Solomon each received 69,022 shares @ $0.049 for programming Sept 14, 06 Brian Holden received 300,000 shares @ $0.025 (actual value was $0.049 $14,700) $7500 as a bonus for signing Abebooks.com, Alibris.com, booksamilion.com all booksellers. Aug 10, 06 John Faulkner Cornelius and Gary Joseph Solomon eacj received 47,679 shares@ $0.028 for programming. July 28, 06 Brian Holden received 100,000 shares as a bonus @ $0.025 $2500 July 24, 06 Novak Capital received one million shares @ $0.025 for Industrial Relations. July 24, 06 Jim Carroll received 3.5 million shares @ $0.025 to assist with financing and raising capital. These shares were returned to the Company in the next fiscal year. July 4, 06 John Faulkner Cornelius and Gary Joseph Solomon each received 84,596 @ $0.033 for programming Jul 04, 06 Vigilant Trader received 75,000 shares @ $ 0.033 for IR. The Company currently has a motion before the court to have twenty eight million shares cancelled as we are of the opinion that they were improperly issued. A. Selected Financial Data


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Biomass Secure Power IncStatement of OperationsYear EndedJune 30, 07
     
     June 30, 06unaudited
     
     unauditedRevenues, net of refunds and chargebacks
     $
     58207
     
     1140346Cost of goods sold
     
     0
     
     830342Gross Profit
     
     58207
     
     310004ExpensesConsulting
     
     123600
     
     190328Sales and marketing
     
     18965
     
     808301Gemeral and administrative
     
     34751
     
     171262Website and server
     
     49374
     
     80949Amortization and depreciation
     
     230805
     
     40504Professional fees
     
     27333
     
     420035Management salaries
     
     56050
     
     2008459Wages
     
     276542
     
     309401Foreign currency transaction gain (loss)
     
     0
     
     -11649Rent and Lease
     
     7010
     
     19282unpaid management salary
     
     60000
     
     0Total expenses
     
     884430
     
     4036872LOSS FROM OPERATIONS
     
     -826223
     
     -3726868Other Income (expenses)Interest income
     
     0
     
     0Miscellanous expenses
     
     0
     
     0TOTAL OTHER INCOME AND EXPENSES
     
     0
     
     0INCOME (LOSS) B3FORE INCOME TAXES
     
     (826223
     
     -3726868BASIC AND DILUTED NET LOSS PER COMMON SHARE
     0.009
     
     0.05Weighted Average Number of Basic and Diluted Common Stock Shares Outstanding
  
  96502717
  
  60554094


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Biomass Secure Power, Inc.Balance SheetAs if June 30, 2007 unauditedJun 30,07
     
     Jun 30, 06AssetsCurrent AssetsCash
     -61
     
     53762Accounts Receivable
     0
     
     16618Prepaid Expenses
     0
     
     1324Sales Tax Receivable
     0
     
     4370Inventory
     0
     
     104909Total Current Assets
     -61
     
     180983Property & Equipment
     0
     
     38688Other AssetsWebsite & Technology net of Amort
     0
     
     21667DVD Marketplace assets
     0
     
     123888Deposits
     0
     
     4587Total Other Assets
     0
     
     150142TOTAL ASSETS
     -61
     
     369813LIABILITIES AND STOCKHOLDERS EQUITYCURRENT LIABILITIESAccts Payable & Accrued Exp
     60000
     
     293974Refund due Amazon
     0
     
     37309Line of credit
     0
     
     22831Payable to directors
     49068
     
     44432TOTAL CURRENT LIABILITIES
     109068
     
     398546COMMITMENTS & CONTINGENCIES
     0
     
     0STOCKHOLDERS' EQUITYcommon stock, no par, 200,000,000 authorized 96,502,717 issued and outstanding
     
     
     88165Subscription receivable
     0
     
     -15000Deferred compensation
     0
     
     -130000Additional paid in capital
     5206171
     
     4752645Accumulated deficit
     -5315300
     
     -4724543TOTAL STOCKHOLDERS' EQUITY
     -109129
     
     -28733TOTAL LIABILITIES & STOCKHOLDERS' EQUITY
     -61
     
     369813


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BiomassSecurePowerInc(FormallyVirtualMediaHoldingsIncStatementsofCashFlows**YEAR ENDED****June 30, 2007**
     
     **June 30, 2006**CASHFLOWSFROMOPERATINGACTIVITIESNetLoss(loss)
     $
     (830,729
     )
     **(3,726,868**
     )Adjustmentstoreconcilenetlosstonetcashprovided(used)by:operations:Amortizationanddepreciation
     
     230,805
     
     **40,504**StockissuedforServices
     
     336,766
     
     **3,528,368**Stockissuedforwebsite
     
     53,880
     
     **0**Stockissuedforemployeebonuses
     
     21,000
     
     0Optionsissuedforservices
     
     0
     
     0(Increase)decreasein:Receivables
     
     0
     
     **31,563**Inventory
     
     0
     
     **340,216**Deposits
     
     0
     
     **622**PrepaidExpenses
     
     0
     
     **(1,324**
     )Increase(decrease)in:Accountspayablerelatedparties
     
     (109,068
     )
     0Accountspayable
     
     0
     
     (181,449
     )Lineofcredit
     
     0
     
     5,925RefundspayabletoAmazon
     
     0
     
     37,309Netcashprovided(used)byoperatingactivities
     
     (297,346
     )
     74,866CASHFLOWSFROMINVESTINGACTIVITIESProperty&equipment
     
     0
     
     (21,067
     )Website
     
     0
     
     (172
     )DVDMarketplaceassets
     
     0
     
     (137,653
     )Netcash(used)byinvestingactivities
     
     0
     
     (158,892
     )


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CASHFLOWSFROMFINANCINGACTIVITIESDuetodirector
     49,068
     
     44,432Proceedsfromexerciseofoptions
     0
     
     **8,584**Proceedsfromissuanceofshares(privateplacement)
     8,880
     
     52,375NotesPayable
     0
     
     0Netcash(used)byfinancingactivities
     57,948
     
     105,391NETINCREASE(DECREASE)INCASHOthercomprehensivegain(loss)foreigncurrencytransactions
     
     
     21,365CashBeginningofperiod
     53,762
     
     32,397CashEndofperiod
     (61
     **)**
     53,762SUPPLEMENTALCASHFLOWDISCLOUSURESInterestexpensepaid
     0
     
     0Incometaxpaid
     0
     
     0NONCASHTRANSACTIONSCommonstockissuedforservices
     390,646
     
     3,528,368Commonstockissuedformanagementfees
     54,000
     
     0Forgivenessofdebtrecordedascapitalcontribution
     0
     
     0


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Biomass Secure Power Inc.  (Formally Virtual Media Holdings, Inc)Statements of Shareholders EquityJune 30, 2007TotalCommon Stock
     
     Accumulated
     
     
     ShareholdersShares
     
     Amount
     
     Deficit
     
     
     EquityBalance, June 30, 2006
     79,581,348
     $
     4,752,645
     
     (4,724,543
     )
     $
     28,102Payment for stock previouslyIssued from exercise of options
     3,000,000
     
     54,000
     
     
     
     
     54,000Stock issued for services atAt  $001to $0.053 per share
     13,501,369
     $
     390,646
     
     
     
     
     390,646Stock issued for private placementat $0.015 to $0.02  per share
     420,000
     
     8,880
     
     
     
     
     8,880Net loss for year ended June 30, 2007
     
     
     
     
     (830,729
     )
     
     (830,729
     )Prior period adjustments
     
     
     
     
     239,972
     
     
     239,972Balance, June 30, 2007
     96,502,717
     $
     5,206,171
     $
     (5,315,300
     )
     $
     (109,129
     )


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