UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
DC 20549





FORM
10-QSB





[X]
            Quarterly
      Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934For
      the quarterly period ended February 29,
      2008[  ]
            Transition
      Report pursuant to 13 or 15(d) of the Securities Exchange Act of
      1934For
      the transition period __________ to__________Commission
      File Number:  333-144910





Buzz Media,
Ltd.


(Exact
name of small business issuer as specified in its charter)





Nevada
            ___________________(State
      or other jurisdiction of incorporation or
    organization)
            (IRS
      Employer Identification No.)








11 Thornhill Drive,
      Suite 216, Dartmouth, Nova Scotia B3B 1R9(Address
      of principal executive offices)





1-866-483-1340(Issuer’s
      telephone number)_______________________________________________________________(Former
      name, former address and former fiscal year, if changed since last
      report)





Check
whether the issuer (1) 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 issuer 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 whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). [X] Yes   [ ] No





State the
number of shares outstanding of each of the issuer’s classes of common stock, as
of the latest practicable date:  2,000,010 common shares as of
February 29, 2008.





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





TABLE OF
      CONTENTS
              
              graphic1
            PagePART I – FINANCIAL
      INFORMATIONItem 1.
            Financial Statements
            3Item 2.
            Plan of Operation
            4Item 3.
            Controls and Procedures
            16PART II – OTHER
      INFORMATIONItem 1.
            Legal Proceedings
            17Item 2.
            Unregistered Sales of Equity Securities and Use of
      Proceeds
            17Item 3.
            Defaults Upon Senior Securities
            17Item 4.
            Submission of Matters to a Vote of Security
      Holders
            17Item 5.
            Other Information
            17Item 6.
            Exhibits
            17


2


PART
I - FINANCIAL INFORMATION





Item1.    Financial Statements





Our
unaudited interim consolidated financial statements included in this Form 10-QSB
are as follows:


PageConsolidated
      Financial Statements:Consolidated Balance Sheet (Unaudited) as of February 29,
      2008
            F-1Consolidated Statement of Operations (Unaudited) for the
      three and nine months ended February 29, 2008 and for the period from
      October 26, 2006 (date of inception) through February 29,
      2008
            F-2Consolidated Statement of Cash Flows (Unaudited) for the
      three and nine months ended February 29, 2008 and for the period from
      October 26, 2006 (date of inception) through February 29,
      2008
            F-3Consolidated Statement of Stockholders’ Equity (Unaudited)
      for the three months ended February 29, 2008 and for the period from
      October 26, 2006 (date of inception) through February 29,
      2008
            F-4Notes to Consolidated Financial
      Statements
            F-5








These
unaudited interim consolidated financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information and the SEC instructions to Form
10-QSB.  In the opinion of management, all adjustments considered
necessary for a fair presentation have been included.  Operating
results for the interim period ended February 29, 2008 are not necessarily
indicative of the results that can be expected for the full
year.


3


BUZZMEDIA LTD.
 AND
CONSOLIDATED SUBSIDIARY
 (A
Development Stage Company)
 Consolidated
Balance Sheets
 (Expressed
in US Dollars)
 (Unaudited-Prepared
by Management)
  Note
      2 - Basis of Presentation - going concernFebruary
      29
                  2008
              
              May
      31
                  2007ASSETSCURRENT
      ASSETSCash
              $
              5,334
              
              $
              69,527Prepaid
      expense
              
              361
              
              
              361Total
      current assets
              
              5,695
              
              
              69,888Fixed
      Assets, net of accumulated depreciation
              
              451
              
              
              -Total
      assets
              $
              6,146
              
              $
              69,888LIABILITIES
      AND STOCKHOLDERS' EQUITYCURRENT
      LIABILITIESAccounts
      payable$
              964
              
              $
              2,202Accrued
      liabilities
              
              5,300
              
              
              20,000Total
      current liabilities
              
              6,264
              
              
              22,202COMMITMENTSSTOCKHOLDERS'
      EQUITYCommon
      stock
                    Authorized
      50,000,000 shares at par value of $0.001 each
                    Issued
      and outstanding 2,000,010
              
              2,000
              
              
              2,000Additional
      paid-in capital
              
              73,000
              
              
              73,000Accumulated
      other comprehensive income
              
              376
              
              
              457Accumulated
      (deficit) during development stage
              
              (75,494)
              
              
              (27,771)Total
      stockholders' equity
              
              (118)
              
              
              47,686Total
      liabilities and stockholder's equity
              $
              6,146
              
              $
              69,888
 The
accompanying notes to the consolidated financial statements are an integral part
of these statements.
 F-1
 BUZZMEDIA LTD.
 AND
CONSOLIDATED SUBSIDIARY (A
Development Stage Company) Consolidated
Statements of Operations (Expressed
in US Dollars) (Unaudited-Prepared
by Management)
 Three
      months ended February 29,
                    2008
                
                Three
      months ended February 28,
                    2007
                
                Nine
      months ended February 29,
                    2008
                
                From
      inception to February 28,
                    2007
                
                Cumulative
      from date of inception October 26, 2006 to
                    February 29,
      208EXPENSESProfessional
      fees
                $
                5,515
                
                $
                -
                
                $
                35,551
                
                $
                -
                
                $
                55,551Advertising
      and Promotion
                
                107
                
                
                -
                
                
                1,838
                
                
                -
                
                
                3,012Depreciation
                
                25
                
                
                -
                
                
                41
                
                
                -
                
                
                41General
      and administrative
                
                2,113
                
                
                288
                
                
                10,293
                
                
                288
                
                
                15,062Travel
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                1,828Total
      expenses
                
                7,760
                
                
                288
                
                
                47,723
                
                
                288
                
                
                75,494Net
      (loss) for the period
                $
                (7,760)
                
                $
                (288)
                
                $
                (47,723)
                
                $
                (288)
                
                $
                (75,494)Other
      comprehensive incomeForeign
      currency translation
                
                (35)
                
                
                45
                
                
                (81)
                
                
                45
                
                
                376Comprehensive
      income
                $
                (7,795)
                
                $
                (243)
                
                $
                (47,804)
                
                $
                (243)
                
                $
                (75,118)Net
      loss per common share - basic and fully diluted:Net
      (loss) for the period
                $
                (0.00)
                
                $
                (0.00)
                
                $
                (0.02)
                
                $
                (0.00)Weighted
      average number of common stock outstanding
                
                2,000,010
                
                
                395,843
                
                
                2,000,010
                
                
                282,747
  The
accompanying notes to the consolidated financial statements are an integral part
of these statements.


F-2
 
 BUZZMEDIA
LTD. AND CONSOLIDATED SUBSIDIARY (A Development Stage Company) Consolidated Statements of Cash
Flows (Expressed in US Dollars) (Unaudited-Prepared by
Management)


Three
      months ended February 29,
                    2008
                
                Three
      months ended February 28,
                    2007
                
                Nine
      months ended February 29,
                    2008
                
                From
      inception to February 28,
                    2007
                
                Cumulative from date of
      inception October 26, 2006 to February 29, 2008Cash
      (used in) operating activities:Net
      (loss)
                $
                (7,760)
                
                $
                (288)
                
                $
                (47,723)
                
                $
                (288)
                
                $
                (75,494)Adjustments
      to reconcile net loss to net cash used in operating
      activities:Net
      change in operating assets and liabilities:Depreciation
                
                25
                
                
                -
                
                
                41
                
                
                -
                
                
                41Prepaid
      expense
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                (361)Accounts
      payable
                
                (4,121)
                
                
                -
                
                
                (1,238)
                
                
                -
                
                
                964Accrued
      liabilities
                
                (5,000)
                
                
                -
                
                
                (14,700)
                
                
                -
                
                
                5,300Net
      cash (used in) operating activities(16,856)
                
                
                (288)
                
                
                (63,620)
                
                
                (288)
                
                
                (69,550)Investing
      Activities:Purchase
      of fixed assets
                
                -
                
                
                -
                
                
                (492)
                
                
                -
                
                
                (492)Net
      cash (used in) investing activities
                
                -
                
                
                -
                
                
                (492)
                
                
                -
                
                
                (492)Cash
      from financing activities:Issue
      of shares
                
                -
                
                
                50,000
                
                
                -
                
                
                50,000
                
                
                75,000Net
      cash from financing activities
                
                -
                
                
                50,000
                
                
                -
                
                
                50,000
                
                
                75,000Effect
      of exchange rate changes on cash
                
                (35)
                
                
                (45)
                
                
                (81)
                
                
                (45)
                
                
                376Increase
      (decrease) in cash
                
                (16,891)
                
                
                49,667
                
                
                (64,193)
                
                
                49,667
                
                
                5,334Cash,
      beginning of period
                
                22,225
                
                
                -
                
                
                69,527
                
                
                -
                
                
                -Cash,
      end of period
                $
                5,334
                
                $
                49,667
                
                $
                5,334
                
                
                49,667
                
                $
                5,334
  The
accompanying notes to the consolidated financial statements are an integral part
of these statements.
 F-3
 
 BUZZ MEDIALTD. AND CONSOLIDATED SUBSIDIARY
 (A Development Stage Company)
 Consolidated
Statement of Stockholders' Equity (Deficit) (Expressed
in US Dollars) (Unaudited-Prepared by Management)
 Common
      Stock
                  
                  Amount
                  
                  Accumulated
      Other Comprehensive Income (loss)
                  
                  Additional
                    Paid
      in
                    Capital
                  
                  (Deficit)
      Accumulated During Development Stage from Inception to February 29,
      2008
                  
                  Stockholders’
      Equity (Deficit)Balance
      at inception, October 26, 2006
                  
                  -
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -Shares
      issued at $0.001 per share for acquisition of subsidiary November 5,
      2006
                  
                  10
                  
                  
                  -
                  
                  
                  -
                  
                  
                  -
                  
                  
                  -
                  
                  
                  -Shares
      issued at $0.02 per share pursuant to subscription February 01,
      2007
                  
                  1,250,000
                  
                  
                  1,250
                  
                  
                  -
                  
                  
                  23,750
                  
                  
                  -
                  
                  
                  25,000Shares
      issued at $0.04 per share pursuant to subscription February 28,
      2007
                  
                  625,000
                  
                  
                  625
                  
                  
                  -
                  
                  
                  24,375
                  
                  
                  -
                  
                  
                  25,000Shares
      issued at $0.2 per share pursuant to subscriptions April 30,
      2007
                  
                  125,000
                  
                  
                  125
                  
                  
                  -
                  
                  
                  24,875
                  
                  
                  -
                  
                  
                  25,000Net
      income (loss) for the year
                  
                  -
                  
                  
                  -
                  
                  
                  457
                  
                  
                  -
                  
                  
                  (27,771)
                  
                  
                  (27,314)Balance
      May 31, 2007
                  
                  2,000,010
                  
                  $
                  2,000
                  
                  $
                  457
                  
                  $
                  73,000
                  
                  $
                  (27,771)
                  
                  $
                  47,686Net
      (loss) for the three months ended August 31, 2007
                  
                  -
                  
                  
                  -
                  
                  
                  (27)
                  
                  
                  -
                  
                  
                  (18,778)
                  
                  
                  (18,805)Balance
      August 31, 2007
                  
                  2,000,010
                  
                  $
                  2,000
                  
                  $
                  430
                  
                  $
                  73,000
                  
                  $
                  (46,549)
                  
                  $
                  28,881Net
      (loss) for the three months ended November 30, 2007
                  
                  -
                  
                  
                  -
                  
                  
                  (19)
                  
                  
                  -
                  
                  
                  (21,185)
                  
                  
                  (21,204)Balance
      November 30, 2007
                  
                  2,000,010
                  
                  $
                  2,000
                  
                  $
                  411
                  
                  $
                  73,000
                  
                  $
                  (67,734)
                  
                  $
                  7,677Net
      (loss) for the three months ended February 29, 2008
                  
                  -
                  
                  
                  -
                  
                  
                  (35)
                  
                  
                  -
                  
                  
                  (7,760)
                  
                  
                  (7,795)Balance
      February 29, 2008
                  
                  2,000,010
                  
                  $
                  2,000
                  
                  $
                  376
                  
                  $
                  73,000
                  
                  $
                  (75,494)
                  
                  $
                  (118)
 The
accompanying notes to the consolidated financial statements are an integral part
of these statements.
 F-4


BUZZ
MEDIA LTD.


AND
CONSOLIDATED SUBSIDIARY


(A
Development Stage Company)


Notes
to Consolidated Financial Statements


February
29, 2008


(Expressed
in US Dollars)


Unaudited
- Prepared by Management


1. BASIS OF PRESENTATION AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES
 
 Organization
and Description of Business
  Buzz
Media Ltd. (the “Company”) was incorporated in the State of Nevada on October
26, 2006. On November 5, 2006 the Company acquired all the issued and
outstanding shares of Buzz Media, Ltd. (“Buzz Nova Scotia”), a corporation
incorporated in the province of Nova Scotia, Canada on October 26, 2006. The
transaction was treated as an acquisition for accounting purposes. The
consideration for the acquisition of Buzz Nova Scotia was 10 shares of the
Company valued at $0.10, the book value of the net assets of Buzz Nova Scotia,
since the acquisition was from a related party.
 
 The
Company intends to design, publish, and distribute a magazine called “Buzz”
through Buzz Nova Scotia. Buzz is a student lifestyle magazine, which features
stories, articles, and photographs submitted by current college and university
students from across the country. The magazine will be distributed free of
charge via direct mail, via physical distribution boxes at specified locations,
via email, and via the internet at www.ReadBuzzMagazine.com.
 
 On May
18, 2007 the Company filed a trademark application with the United States Patent
and Trademark Office, seeking a trademark on "Buzz Magazine" used as the name,
or title, of a magazine.
 
 The
Company intends to distribute the first issue in September of 2008. It has
already compiled a pilot issue, which will be used to entice advertisers to buy
advertising space in the future issues and to enter distribution arrangements
with Universities. It is planned that the magazine will be published four times
annually, with a new issue released in September, November, January and March.
The Company plans to generate revenues through the sale of advertising space
within physical copies of the magazine, through the sale of advertising space on
its website, and by sharing Buzz Magazine’s subscriber list with various
advertisers and other distributors.
 
 Principles
of Consolidation
 
 The
consolidated financial statements include accounts of the Company and its
wholly-owned subsidiary Buzz Nova Scotia. All significant inter-company balances
and transactions are eliminated.
 
 Cash
and Cash Equivalents
  Cash
equivalents comprise certain highly liquid instruments with a maturity of three
months or less when purchased. As at February 29, 2008 the Company did not have
any cash equivalents.
  Asset
Retirement Obligations
  The
Company has adopted SFAS No. 143, Accounting for Asset Retirement
Obligations which requires that the fair value of a liability for an
asset retirement obligation be recognized in the period in which it is incurred.
The Company has not incurred any asset retirement obligations as at February 29,
2008.
 
 Fixed
Assets
  Office
furniture and equipment is carried at cost less a provision for depreciation on
a straight-line basis over its estimated useful life of five years.
  F-5
 BUZZ
MEDIA LTD.
 AND
CONSOLIDATED SUBSIDIARY
 (A
Development Stage Company)
 Notes
to Consolidated Financial Statements
 February
29, 2008
 (Expressed
in US Dollars)
 Unaudited
- Prepared by Management
 
 Foreign
Currency
  The
Company maintains both U.S. Dollar and Canadian Dollar bank accounts. The
functional currency is the Canadian Dollar. Transactions in foreign currencies
other than the functional currency, if any, are remeasured into the functional
currency at the rate in effect at the time of the transaction.
 
 Use
of Estimates
 
 The
preparation of the Company’s consolidated financial statements in conformity
with generally accepted accounting principles of United States of America
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. Management makes its best
estimate of the ultimate outcome for these items based on historical trends and
other information available when the financial statements are prepared. Actual
results could differ from those estimates.
 
 Loss
Per Share
  Basic
earnings (loss) per share of common stock are computed by dividing the net
earnings (loss) by the weighted average number of common shares outstanding
during the period. Diluted earnings (loss) per share are equal to the basic loss
per share for the quarter ended February 29, 2008 because there are no common
stock equivalents outstanding.
 
 Fair
Value of Financial Instruments
  The
carrying value of cash and accounts payable at February 29, 2008 reflected in
these financial statements, approximates their fair value due to the short-term
maturity of the instruments.
 
 Comprehensive
Income
  The
Company has adopted Statement of Financial Accounting Standards (SFAS) No. 130,
“Reporting Comprehensive Income”. Comprehensive income includes net income and
all changes in equity during a period that arises from non-owner sources, such
as foreign currency items and unrealized gains and losses on certain investments
in equity securities.
 
 Income
taxes
  The
Company records deferred taxes in accordance with Statement of Financial
Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes." The
statement requires recognition of deferred tax assets and liabilities for
temporary differences between the tax bases of assets and liabilities and the
amounts at which they are carried in the financial statements, based upon the
enacted tax rates in effect for the year in which the differences are expected
to reverse. A valuation allowance is established when necessary to reduce
deferred tax assets to the amount expected to be realized.
 
 Development
Stage
 
 The
Company entered the development stage upon its inception. All losses accumulated
since the inception of the Company have been considered as part of the Company’s
development stage activities.
  F-6
 BUZZ
MEDIA LTD.
 AND
CONSOLIDATED SUBSIDIARY
 (A
Development Stage Company)
 Notes
to Consolidated Financial Statements
 February
29, 2008
 (Expressed
in US Dollars)
 Unaudited
- Prepared by Management
 Impairment
of Long-Lived Assets
  The
Company periodically analyzes its long-lived assets for potential impairment,
assessing the appropriateness of lives and recoverability of unamortized
balances through measurement of undiscounted operation cash flows in accordance
with SFAS No. 144, Accounting
for the Impairment or Disposal of Long-lived Assets.If impairment is
deemed to exist, the asset will be written down to its fair value. Fair value is
generally determined using a discounted cash flow analysis. As at February 29,
2008 the Company does not believe any adjustment for impairment is
required.
 
 Concentrations
 
 The
Company has only a limited operating history, and its growth strategy is
dependent upon its ability to obtain distribution agreements with colleges and
universities. The Company’s success depends largely upon the efforts, abilities,
and decision-making of its sole officer and director, who currently acts as
editor-in-chief for the magazine, organizing volunteers from colleges and
universities across Canada to contribute articles, photographs and artwork,
which are assembled into issues of Buzz Magazine with the assistance of
professional graphic artists.
 
 2.
BASIS OF PRESENTATION - GOING CONCERN
  These
consolidated financial statements have been prepared on a going-concern basis
which assumes that the Company will be able to realize assets and discharge
liabilities in the normal course of business for the foreseeable
future.
  The
Company has experienced losses since the inception of the development stage
amounting to $75,494 as of February 29, 2008. As of February 29, 2008 the
Company had a total of $5,334 in cash; however this amount may be insufficient
to sustain operations over the course of the following months. These factors
raise substantial doubt about the Company's ability to continue as a going
concern. The ability of the Company to meet its commitments as they become
payable is dependent on the ability of the Company to establish a strong
subscriber base, which will be receiving physical copies of each issue of our
magazine via mail, and to obtain necessary financing or achieve a profitable
level of operations. There are no assurances that the Company will be successful
in achieving these goals.
  These
financial statements do not give effect to adjustments to the amounts and
classifications to assets and liabilities that would be necessary should the
Company be unable to continue as a going concern.
 
 3.
FIXED ASSETS
 
 Fixed assets consist of the
following:
  February
      29, 2008Office
      furniture and equipment
              $
              492Less:
      Accumulated depreciation
              
              41$
              451
  F-7
 BUZZ
MEDIA LTD.
 AND
CONSOLIDATED SUBSIDIARY
 (A
Development Stage Company)
 Notes
to Consolidated Financial Statements
 February
29, 2008
 (Expressed
in US Dollars)
 Unaudited
- Prepared by Management
 4. INCOME TAXES
 
 The
Company is subject to United States income taxes and Canadian income taxes (to
the extent of its operations in Canada). The company had no income tax expense
during the reported period due to net operating losses.
 
 A
reconciliation of income tax expense to the amount computed at the statutory
rates is as follows:
  Three
      months ended February 29, 2008Loss
      for the period
              $
              (7,760)Average
      statutory tax rate
              
              35%Expected
      income tax provision
              
              (2,716)Unrecognized
      tax losses
              
              2,716Income
      tax expense
              $
              --
  Significant
components of deferred income tax assets at February 29, 2008 are as
follows:
  Net
      operating losses carried forward in United States
              $
              26,423Valuation
      allowance
              
              (26,423)Valuation
      allowance
              
              (26,423)Net
      deferred income tax assets
              $
              -
 
 The
Company has net operating losses carried forward of $75,494 for United States
tax purposes which will expire in 2027 if not utilized.
  5.
COMMITMENTS
 
 The
Company has leased office space for which the Company is committed to pay
approximately $407.23 tax included (CDN399) on the first day of each month from
May 1, 2007 through April 30, 2008.




F-8




Item2.     Plan of Operation





Forward-Looking
Statements





Certain
statements, other than purely historical information, including estimates,
projections, statements relating to our business plans, objectives, and expected
operating results, and the assumptions upon which those statements are based,
are “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of
1934.   These forward-looking statements generally are identified
by the words “believes,” “project,” “expects,” “anticipates,” “estimates,”
“intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will
continue,” “will likely result,” and similar expressions.  We intend
such forward-looking statements to be covered by the safe-harbor provisions for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995, and are including this statement for purposes of complying with
those safe-harbor provisions.  Forward-looking statements are based on
current expectations and assumptions that are subject to risks and uncertainties
which may cause actual results to differ materially from the forward-looking
statements. Our ability to predict results or the actual effect of future plans
or strategies is inherently uncertain. Factors which could have a material
adverse affect on our operations and future prospects on a consolidated basis
include, but are not limited to: changes in economic conditions,
legislative/regulatory changes, availability of capital, interest rates,
competition, and generally accepted accounting principles. These risks and
uncertainties should also be considered in evaluating forward-looking statements
and undue reliance should not be placed on such statements. We undertake no
obligation to update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.  Further
information concerning our business, including additional factors that could
materially affect our financial results, is included herein and in our other
filings with the SEC.





Organization
within the Last Five Years





We were
incorporated November 4, 2006 under the laws of the state of Nevada.  On
November 8, 2006, we purchased all the issued and outstanding shares of Buzz
Media, Ltd., a Nova Scotia company (“Buzz Nova Scotia”) from our officer and
director Tiffany Walsh for 10 shares of our common stock.  As a result of
the transaction, Buzz Nova Scotia became a wholly-owned subsidiary of
ours.  It is through Buzz Nova Scotia that we intend to initially conduct
business in Canada. We subsequently intend to seek expansion into the United
States if our initial product in Canada proves to be successful.





We are
located at 11 Thornhill Drive, Suite 216, Dartmouth Nova Scotia, B3B 1R9, and
our website is located at www.readbuzzmagazine.com. Tiffany Walsh, our
President, CEO and director, is a person that may be described as “promoter” as
defined in Rule 405 of the Securities Act by virtue of her role in founding and
organizing our company.





Description
of the Business





This
section must be read in conjunction with the financial statements included in
this quarterly report.




4





We are in
the business of designing, publishing, and distributing the magazine, Buzz. Buzz is a student lifestyle
magazine, which features stories, articles, and photographs submitted by current
college and university students from across Canada. We intend to distribute the
publication free of charge via direct mail, physical distribution boxes at
specified locations, email, and the internet at
www.ReadBuzzMagazine.com.





As a
national college magazine that is written for college students by college
students, we believe Buzz Magazine may appeal to a significant number of
readers. As opposed to traditional university newspapers and magazines, which
focus on the university of their origin, Buzz will contain articles
from, and focus on, a large number of universities. Our intention is to make
Buzzrelevant to a
larger audience, both of readers and advertisers.





It is our
intended wide market appeal, along with our genuine connection to the college
student lifestyle, which we anticipate will give our company a competitive
advantage. Content for our magazine comes directly from current college and
university students from across the country.


Tiffany
Walsh, our editor-in-chief, is responsible for coordinating our student
contributors program. The program encourages college and university students to
send Buzz their
stories, articles, photographs and original artwork, which showcase their unique
university experience, for the opportunity to have it published in a national
student publication.





As of
February 29, 2008, twenty-three (23) contributors have signed artist agreements
with us, demonstrating their intention to submit content to Buzz Magazine on an
on-going basis. Individuals who take part in Buzz’s student contributors
program do so on a strictly volunteer basis. If our operations develop to the
point where the magazine’s advertising revenues exceed the costs of production,
design, and distribution, we may then decide to pay students for published
articles. However, we believe that a sufficient number of students will be
motivated to be active volunteer contributors to allow us to generate enough
content from volunteer submissions to continuously fill future issues of Buzz
Magazine.





We plan
to publish Buzz Magazine four times annually, with regularly scheduled releases
during September, November, January, and March. This publishing cycle is
intended to correspond to a traditional academic year, with two issues released
per academic semester. Our first several issues will focus on Canadian
Universities and will be distributed only in Canada, but we intend to develop an
American version of the magazine if our Canadian magazine is successful. We
initially set January of 2008 as the release date of our first full issue,
however based on our inability to sell advertising space in that issue, we have
postponed the release of our first full issue until September 2008. Because our
magazine is advertising based, with any and all potential revenue stemming from
the sale of advertising within our magazine, we felt it was in our best interest
to hold off publishing a full issue of Buzz until we are able to generate
sufficient advertising revenues. We are continuing our efforts to pre-sell
advertising space in future issues of our magazine, and hope to sell sufficient
advertising space to merit going to print on our first full issue of Buzz in
September 2008. We have already published a 32-page pilot-issue, which we are
using to entice advertisers to buy ad space in our future issues, and which we
are using to




5




seek
agreements with various universities to allow us to give away our publication on
their campus.





In 2006,
Tiffany Walsh began the process of establishing contacts at universities across
Canada. She did this by placing ads in various student newspapers and on various
student web sites, calling for people interested in writing articles or
submitting photographs for a future national student lifestyle magazine.
Individuals answering the ads were interviewed, and told that submissions would
initially be made solely on a volunteer basis.  Ms. Walsh used
submissions from such contacts to compile material for the pilot issue, which
was published with the help of an independent contractor graphic designer in
March of 2007. For each subsequent issue, it is intended that this process would
be repeated, using editorial content and photographs submitted by student
volunteers from various academic institutions.





During
June 2007, Buzz Magazine began a marketing campaign with the goal of increasing
awareness and building a subscriber base. As part of the marketing effort, we
spent a total of $511.90 USD to run a series of online advertisements for Buzz
Magazine on Facebook.com. Ms. Walsh also conducted a significant amount of
“grass roots” promotion for the Buzz Magazine website, through a handful of
student dominated websites and live events. Such marketing and promotional
effort helped to raise awareness for the upcoming release of the magazine, and
to generate subscribers. We conducted a Buzz Magazine promotional tour during
Oct 15 to Oct 18, 2007, at three universities across Atlantic Canada. Tiffany
Walsh traveled to and set up a display booth at Saint Mary’s University,
Dalhousie University, and University of New Brunswick. We received a positive
response from the promotional tour, and plan to expand the program by conducting
further promotions at schools in other regions in the future if the associated
costs fit within our budget. As of February 29, 2008, 658 people have signed up
as subscribers to Buzz Magazine through our website.





We have
been negotiating with a number of universities and colleges in other regions,
with the goal of forming a network of campuses where we may distribute Buzz
Magazine. As of February 29, 2008, forty-two (42) Universities and Colleges have
verbally agreed to allow us to distribute Buzz Magazine on their campuses, by
placing a “Buzz Box” in a high traffic area, at no charge. These schools
include: Dalhousie University, Saint Mary’s University, St. Francis Xavier
University, Acadia University, Mount Saint Vincent University, Cape Breton
University, Nova Scotia College of Art and Design, University New Brunswick,
Mount Allison University, Trent University, Ryerson University, York University,
University of Windsor, Lakehead University, Carleton University, University of
Ottawa, University of Waterloo, Saint Paul University, Queen’s University,
University of Toronto, King’s University, University of Ontario Institute of
Technology, University of Guelph-Humber, Laurentian University, Wilfrid Laurier
University, Algonquin College of Applied Arts and Technology, Nipissing
University, St. Jerome’s University, University of Alberta, University of
Calgary, University of Lethbridge, Athabasca University, McGill University,
Bishop’s University, University of British Columbia, University of Victoria,
University of Northern British Columbia, Simon Fraser University, Thompson
Rivers University, University of Regina, University of Manitoba, and Memorial
University.





In July
2007, an upgrade to our website www.Readbuzzmagazine.comwas
completed with the help of an independent web programmer and graphic designer.
The upgrade includes an expanded area for visitors to share




6




photos
and articles, and post comments. Individuals who sign up for a subscription to
Buzz also receive a private login for the website, allowing them to access
exclusive online content.





From July
2007 to February 2008, Tiffany Walsh compiled enough content from volunteer
contributors to fill two new issues of Buzz Magazine. An independent graphic
designer has agreed to perform all design work relating to preparing Buzz for
print later in 2008, for an anticipated fee of $1000.





In August
2007 Ms. Walsh began marketing advertising space in future issues of Buzz
Magazine. Ms Walsh produced a professional advertising kit with the help of an
independent graphic designer. Ms. Walsh began the process of generating leads
and identifying target companies, who she felt might be interested in purchasing
advertising space in future issues of Buzz. Ms. Walsh began approaching
potential advertisers, with the intention of selling future space in Buzz
Magazine.





From
September to February 2008, we sent advertising packages to a number of
companies who requested more information on advertising in Buzz, when we phoned
them. These companies included:  Pizza Delight, Wrigley Canada,
Blockbuster, Tim Hortons, Nubody’s Gym, Dooly’s Pool Halls, Media Experts, Le
Chateau, AEON, Molson Canada, Taylor Made Media, Mountain Equipment Co-op, Pizza
Hut, Eastcoast pubcrawls, Via Rail, MBS Media Buying, Wendy’s Restaurants, Shaw
Cablesystems, Red Bull, Diageo Liquor, Shoppers Drug Market, Little Caesars
Pizza, Halifax Transfer, Markie Bus Tours, Durex Condoms, Future Shop, Staples
Business Depot, Indigo Books Inc.  (Chapters & Coles Books), Much
Music, Nestle Beverages, Enterprise Rent-A-Car, Adecco, Vector Marketing,
Fabutan, Subway Restaurants, Coca-Cola, Rogers Wireless, Research in Motion,
Winners, Scotiabank, Imperial Oil, SWAP, Manpower, Travel Cuts, College Pro
Painters, Ipsos, Unilever, and Brainhunter. However as of February 29, 2008, we
have been unsuccessful in selling advertising space, in printed copies of our
magazine and on our website, to the above-mentioned companies, and we have not
generated any revenue to date. We are continuing our efforts to sell advertising
space in future issues of Buzz Magazine.





Intellectual
Property





A major
component to our business will be generating the content necessary to fill
copies of Buzz magazine
on an on-going basis. We have created a student contributors program, which
encourages college students to send us their stories, articles, photographs and
original artwork, which showcase their unique university experience. Students
volunteer in order to have the opportunity to have their work published in a
national magazine. Students who take part in our student contributors program do
so on a strictly volunteer basis. Each person who submits either written
material or photographs for publishing must sign a waiver and agree to transfer
all rights relating to ownership of submission material to Buzz Media Ltd.
Student contributors interested in submitting content to Buzz on a regular basis are
also asked to sign a volunteer artist agreement, which expresses their intent to
submit content on a regular basis and outlines the terms associated with content
submission. All photography, written content, and artwork displayed on our
company’s websites, or printed in physical copies of our magazine, is the sole
property of our company, Buzz Media Ltd.  On May 18, 2007 Buzz Media
Ltd. filed a trademark application (serial number 77184241) with the United
States Patent and Trademark Office,




7




seeking a
trademark on "Buzz Magazine" used as the name, or title, of a magazine. We
expect the entire application process could take 13-18 months, and there is no
guarantee that our trademark application will be successful.





Competition





Buzz magazine will be in
competition for readers and advertising dollars with a wide range of print
publications and new media products. Within the college student market, Buzz will be in direct
competition with two established firms, which already service our expected
market.





U Magazine (USA): U Magazine is a monthly
national college magazine given away for free on campuses across the United
States. It is an advertising-based publication with 1,000,000 copies being
printed and distributed each month.





Job Postings (Canada).
Published eight times per year, Job Postings is a monthly
magazine for Canadian college and university students in their last year of
school. It is an advertising-based publication which is given away free on 135
campuses across Canada. 60,000 copies are printed and distributed each
month.





Government
Regulation





Government
regulation and compliance with environmental laws have not had a material effect
on our business.





Employees





We have
no employees other than our sole officer and director as of the date of this
quarterly report. As needed from time to time, we may pay for the services of
independent contractors, which may include, but are not limited to, graphic
designers, photographers, web designers, promotional reps and advertising sales
people.





Property





We lease
our corporate office at 11 Thornhill Drive, Suite 216, Dartmouth Nova Scotia,
B3B 1R9. We pay C$350 per month plus tax. Our financial obligations on the lease
end following payment of the March 2008 rent. We may decide to seek an
alternative location for our corporate office in May 2008. Management believes
additional suitable space will be available when it is needed.





Plan
of Operations





Revenue
Streams





We are
approaching companies who may be interested in purchasing advertising space,
either in future issues of Buzz magazine, or on our website. We are using copies
of our 32-page pilot issue, along with a detailed marketing package, to procure
such potential advertising contracts.




8





We
currently anticipate generating revenue through three sources:





1.
            through
      the sale of advertising space within physical copies of our
      magazine;


2.
            through
      the sale of advertising space on our website;
  and


3.
            through
      sharing our subscriber list with various advertisers and other
      distributors.





Sale of Advertising Space
within physical copies of our magazine





We plan
to allocate between 40-45% of each printed issue of Buzz for advertising
space.  As a national magazine distributed across the country, we
anticipate reaching a wider audience than local publications at individual
universities, and thus appealing to a larger and more sophisticated advertising
base with higher advertising budgets. We believe this will give us a competitive
advantage over most local university-based publications.  We are using
our pilot issue, along with a detailed marketing package, to attempt to entice
such advertisers to purchase space in our issues planned for 2008 and beyond. We
anticipate that our ability to sell advertising space in our magazine will be
directly affected by the size and quality our distribution network and
subscriber base. Thus, we will need to establish a subscriber base, distribution
channels, and general interest in the magazine.





Sale of Advertising Space on
our Web-site





We have
placed space for advertising banners on every page of our web site. Along with
advertising space within physical copies of our magazines, we plan on selling
this online advertising space. To date, we have not sold any advertisements on
our website. It is anticipated that our ability to sell such ads will be
affected by our web-site traffic – the number of people that visit our web site
on a daily basis.  In order to increase web site traffic, we have a
placed a copy of our latest issue of Buzz available for on-line
viewing or downloading on our web site. We also plan to include a number of
interactive games, message boards, and general information that might be useful
to a university student.





Sharing of our Subscriber
List





Our
magazine will strive to build its reader base through request circulation,
whereby our magazine will be mailed free charge to readers who request our
publication. Readers wishing to subscribe to Buzz will be able to do so
via our web site or by submitting written requests via standard mail as
described in physical copies of the magazine. Subscribers will be asked if they
would allow us to send them other e-mails and/or publications that might be of
interest to them. Provided the subscriber agrees, the subscriber’s information
will be stored in a secure area of our web site, and we may from time to time
send the subscriber materials from other magazines and/or
advertisers.  We anticipate that, provided our subscriber base reaches
an appropriate size, we will be able to charge for such services. Additionally,
the more subscribers we have on our subscription list who have requested copies
of our magazine, the greater our ability to sell advertising space in our
physical publication at premium rates.





9




Distribution
Channels





As we do
not plan to charge subscribers and readers for the magazine, the size of our
distribution base is the key to the success of our business.  We will
rely exclusively on revenue streams that will depend on the proven size and
effectiveness, or anticipated size and effectiveness, of our
distribution.  We plan on distributing our magazine through four main
channels:





1.
            direct
      mail;


2.
            email;


3.
            physical
      distribution boxes at specified locations;
and


4.
            the
      Internet at
www.ReadBuzzMagazine.com.





Distribution via Direct
Mail





Buzz
will be mailed to those who have signed up for a subscription via our website.
We will be using Canada Post to mail issues of Buzz to our subscribers. As of
February 29, 2008, 637 people have signed up as subscribers to Buzz Magazine
through our website. We will continue to build our subscriber base using various
web-marketing campaigns aimed at motivating students to sign up for a free
direct mail subscription to Buzz Magazine. We have also conducted some on-campus
promotions at a small number of universities to raise awareness for our
publication and to generate subscriptions. We believe that a large subscriber
base for distribution via direct mail will help us procure advertising revenues
from the sale of advertising space in physical copies of our magazine. To allow
us to reach students at a greater number of universities and colleges, we plan
on continuing to build our network of campus representatives. We plan on finding
student volunteers interested in becoming campus representatives by placing
advertisements in school newspapers, by networking through student web sites,
and by word of mouth. To date we have volunteer campus representatives on nine
different university campuses.





Distribution via
E-mail





We plan
to send an electronic version of Buzz directly to the e-mail
address of anyone who requests the electronic edition of our publication. We
will attempt to entice such subscriptions on our web site and in all physical
copies of Buzz. We
believe that a large subscription base for distribution via e-mail will help us
procure advertising revenues from the sale of advertising space in electronic
versions of the magazine and on our web site. An added benefit to such a
distribution method is our ability to meet any level of demand for additional
copies of Buzz without
incurring any additional expenses, which would be associated with printing more
physical copies of the publication.





Distribution via “Buzz
Boxes”





Buzz will
be distributed free of charge to students via distribution boxes on a select
number of university campuses across Canada. To coincide with the release of our
first issue of Buzz, we plan to place “Buzz Boxes” in heavily trafficked
locations in various universities across Canada. These “Buzz Boxes” will act as
a distribution conduit for physical copies of Buzz Magazine. We have designed
the boxes so that the boxes themselves will resemble traditional newspaper
distribution boxes, and will be decorated in the Buzz logo and in Buzz colours
so they are




10




recognizable
and distinctive. To date, no “Buzz Boxes” have been constructed, however we have
a supplier who is able to build our boxes once we are ready to publish our first
full issue. Starting in the fall of 2007, we began negotiating with a number of
universities and colleges in other regions, with the goal of forming a network
of campuses where we may distribute Buzz Magazine. As of February 29, 2008,
forty-two (42) Universities and Colleges have verbally agreed to allow us to
distribute Buzz Magazine on their campuses, by placing a “Buzz Box” in a high
traffic area, at no charge. These schools include: Dalhousie University, Saint
Mary’s University, St. Francis Xavier University, Acadia University, Mount Saint
Vincent University, Cape Breton University, Nova Scotia College of Art and
Design, University New Brunswick, Mount Allison University, Trent University,
Ryerson University, York University, University of Windsor, Lakehead University,
Carleton University, University of Ottawa, University of Waterloo, Saint Paul
University, Queen’s University, University of Toronto, King’s University,
University of Ontario Institute of Technology, University of Guelph-Humber,
Laurentian University, Wilfrid Laurier University, Algonquin College of Applied
Arts and Technology, Nipissing University, St. Jerome’s University, University
of Alberta, University of Calgary, University of Lethbridge, Athabasca
University, McGill University, Bishop’s University, University of British
Columbia, University of Victoria, University of Northern British Columbia, Simon
Fraser University, Thompson Rivers University, University of Regina, University
of Manitoba, and Memorial University.





Distribution via
ReadBuzzMagazine.com





An
electronic version of each issue of Buzz will also be available
on the Internet at our web site, www.ReadBuzzMagazine.com.  Our online
presence will be the key to generating advertising revenues through the sale of
advertising space on our web site.  Therefore, we intend to upload new
issues of Buzz magazine
as they are completed, and we intend to generate additional interest in our web
site through the development of various chat-rooms, message boards, and other
web-community services.  We anticipate offering additional features on
our web site to coincide with the release of our first issue in
2008.





Marketing





During
June 2007, we began marketing Buzz Magazine to students, with the goal of
increasing awareness and building our subscriber base. As part of the marketing
effort, we spent a total of $511.90 USD to run a series of online advertisements
for Buzz Magazine on Facebook.com. We plan to continue building our subscriber
base using similar web marketing campaigns aimed at enticing students to sign up
for a free subscription to Buzz through our website. Future web marketing
campaigns may include email campaigns, and website banner advertising through
websites often populated by students. We conducted a Buzz Magazine promotional
tour from October 15 to October 18, 2007, at three universities across Atlantic
Canada. Tiffany Walsh traveled to and set up a display booth at Saint Mary’s
University, Dalhousie University and University of New Brunswick. We received a
positive response from the promotional tour, and plan to expand the program by
conducting further promotions at schools in other regions in the future if the
associated costs fit within our budget. We are also organizing a network of Buzz
campus reps at various universities across Canada. Campus reps are student
volunteers from different universities, who spread the word about Buzz magazine around their
campus. They are




11




also
local contacts who could be paid in the future to launch on-campus promotions
for Buzz at their
schools. Our magazine distribution “Buzz Boxes” will also provide a level of
exposure to our product once they are setup at select locations at universities
across Canada.





Our
Publication





We will
continue building our student contributors program by signing more volunteers to
artist agreements. We will continue to seek articles, stories and photos
submitted by students from across the country, which will be retained for
possible publication in issues of our magazine during the 2008 season. We have
accumulated enough content to fill our first two full issues of Buzz, and have
begun the design process. For each subsequent issue, we will continue to seek
editorial content and photographs submitted by volunteers.





Our web
site, located at www.ReadBuzzMagazine.com, currently contains a subscriber
signup page, an introduction to our magazine, a downloadable copy of our pilot
issue, an online application for all our volunteer positions, company
information, and information for prospective advertisers. We have incurred
approximately C$4,800 in web site development expenses as of February 29,
2008.  Our cost, per issue, for posting each new issue of Buzz on our
web site is anticipated to be C$40.





Anticipated
Expenses





It is
anticipated that design and construction of our “Buzz Boxes” will be completed
closer to the release of our first full issue. Our anticipated design and
production cost per outdoor box is C$63, and the cost per indoor box is expected
to be C$36.  We plan to use 50 distribution boxes (20 outdoor boxes
and 30 indoor boxes) for our first publications. Multiple boxes will be placed
at each university that agrees to distribute our publication, and we will
construct purchase more boxes based upon demand. Our total anticipated
production cost for our first 50 boxes is C$2,340, with an additional C$900 in
shipping expenses anticipated.





Printing
costs for physical copies of the magazine are estimated to be C$0.38 per issue,
assuming we print 20,000 copies per issue. We anticipate average shipping costs
relating to direct mail subscriptions to be C$0.60 per subscriber. We anticipate
shipping costs relating to copies of Buzz distributed via our Buzz Boxes to be
C$0.07 per issue. Thus, based upon our full planned print run of 20,000 copies
per issue, we anticipate our total production and distribution costs (printing
and shipping) associated with each issue of Buzz to be between C$9,000
and C$11,650, depending upon how many copies we decide to distribute via direct
mail and how many we distribute via “Buzz boxes”.





We plan
to produce and distribute an issue of Buzz in September and another
in November of 2008, with each issue comprising 20,000 physical copies and one
electronic copy on our web-site. However, we do not currently have enough cash
on hand to fund the production and distribution of those two issues. We believe
that we will have to generate revenues of at least C$22,000 dollars from
advertising sales to be able to print and distribute two issues of
Buzz.




12





As
indicated above, the total of our printing, shipping, and distribution costs for
two full issues of Buzz (September and November 2007) is anticipated to be
between C$18,000 and C$22,000. Our accounting, legal and administrative expenses
for the next twelve months are anticipated to be $20,000. As of February 29,
2008, we had $5,334 in cash and a working capital deficit of $569. We believe we
may not have sufficient cash on hand to sustain our operations for the next 6
months, unless we are able to generate sufficient revenues, or raise or borrow
additional capital. We are continuing to work at selling advertising space in
future issues of Buzz. If we desire to grow our business, or distribute more
magazines to more campuses, we may need to either realize additional revenues
from advertising sales, or raise or borrow additional capital.  We
successfully raised initial funds through private placements of our common
stock.  In the future, we may need to engage in public or private financing
should there be a need for additional funds.  There is no assurance that
such placements will be successful.  We anticipate receiving some revenue
from the sale of advertising in future issues of Buzz and from the sale of
advertising on our web site. However, we may not realize such
revenues.





In
addition, depending on available revenues, we may engage in some general
marketing efforts over and above those involved in establishing the three main
distribution channels noted above.


We do not
believe that there will be significant research and development expenses during
the next 12 months.





We
anticipate that our cost of sales is incorporated in our anticipated
administrative expenses, as sales over our first year will be conducted by
Tiffany Walsh, who does not currently take any salary.  Sales
campaigns will be conducted principally through the use of e-mail and telephone
and in person where prospective advertisers have offices or representatives near
Halifax.  Where necessary, Ms. Walsh may incur some travel costs but
we do not estimate such costs, if incurred at all, will exceed $1000 for the
next 6 months.





If
management believes it is appropriate to begin a program of rapid expansion,
which may be deemed necessary in the event of a drastic jump in our
publication’s popularity and subscriber base, we believe we will need up to
$75,000 over the next twelve months.  We plan on obtaining this operating
capital from our own available funds and anticipated revenues from advertising
sales, but these sources may not provide sufficient funds. We expect to be able
to raise capital through the sale of our common stock if business revenues are
not available to pay necessary expenses.





We do not
anticipate the need for any additional employees during the next twelve months
other than the services of the individuals discussed above, unless initial
response to our product is extremely positive or expansion into new markets
occurs sooner than expected.  Since our management plans to use independent
contractors only when volunteer positions cannot be adequately filled, and there
are no plans for other significant expenditures over the coming year (aside from
marketing, printing, and distribution costs, as discussed above), adverse
material impacts on short term liquidity are not expected. Our agreements with
content contributors do not require us to make any financial
commitments.   If we do not sell all of the advertising space
available in our first full issue of Buzz Magazine, we will introduce
alternative marketing strategies for selling advertising space in future
issues.  Our long-term liquidity will rely much on




13




the
success of advertising sales related to our first full and subsequent issues and
general marketing of our publication.





Off
Balance Sheet Arrangements





As of
February 29, 2008, there were no off balance sheet arrangements.





Results
of Operations for Period Ending February 29, 2008





We did
not earn any revenues from inception through the period ending February 29,
2008. We incurred net operating expenses in the amount of $7,760 for the three
months ended February 29, 2008, $47,723 for the nine months ended February 29,
2008, and $75,494 for the period from our inception on October 26, 2006 to
February 29, 2008. Our operating expenses incurred for the three months ended
February 29, 2008 included $5,515 for professional fees and $2,113 in general
and administrative expenses. Our operating expenses incurred for the nine months
ended February 29, 2008 included $35,551 for professional fees, $1,838 in
advertising and promotion expenses, and $10,293 in general and administrative
expenses. Our operating expenses incurred for the period from our inception on
October 26, 2006 to February 29, 2008 included $55,551 for professional fees,
$3,012 in advertising and promotion expenses, $15,062 in general and
administrative expenses and $1,828 in travel expenses. Our net loss for the
three months ended February 29, 2008 was $7,760, and our net loss for the period
from our inception on October 26, 2006 to February 29, 2008 was $75,494. The
primary component in our net loss for each period has been the professional fees
we have incurred in organizing our business. We anticipate our operating
expenses will increase as we undertake our plan of operations. The increase will
be attributable to undertaking the production and printing of our publication
and the professional fees that we will incur in connection with becoming a
reporting company under the Securities Exchange Act of 1934.





Liquidity
and Capital Resources





As of
February 29, 2008, we had current assets in the amount of $5,695, consisting of
$5,334 in Cash and $361 in Prepaid Expense. Our current liabilities as of
February 29, 2008 were $6,264. Thus our working capital deficit on February 29,
2008 was $569.





We have
not attained profitable operations and are dependent upon obtaining financing to
pursue our business plan over the next twelve months if we do not generate
revenue sufficient to sustain operations.





Critical
Accounting Policies





In
December 2001, the SEC requested that all registrants list their most “critical
accounting polices” in the Management Discussion and Analysis. The SEC indicated
that a “critical accounting policy” is one which is both important to the
portrayal of a company’s financial condition and results, and requires
management’s most difficult, subjective or complex judgments, often as a result
of the need to make estimates about the effect of matters that are inherently
uncertain. We believe that the following accounting policies fit this
definition.




14





Foreign
Currency





The
operations of the Company are located in Canada.  The Company
maintains both U.S. Dollar and Canadian Dollar bank accounts. The functional
currency is the Canadian Dollar. Transactions in foreign currencies other than
the functional currency, if any, are remeasured into the functional currency at
the rate in effect at the time of the transaction. Remeasurement gains and
losses that arise from exchange rate fluctuations are included in income or loss
from operations. Monetary assets and liabilities denominated in the functional
currency are translated into U.S. Dollars at the rate in effect at the balance
sheet date.  Revenue and expenses denominated in the functional
currency are translated at the average exchange rate.  Other
comprehensive income includes the foreign exchange gains and losses that arise
from translating from the functional currency into U.S. Dollars.





Recently Issued Accounting
Pronouncements





In
September 2006, the FASB issued SFAS No. 157, “Fair Value
Measurements.”  This statement defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles,
and expands disclosure about fair value measurements.  This statement
applies under other accounting pronouncements that require or permit fair value
measurement, the FASB having previously concluded in those accounting
pronouncements that fair value is the relevant measurement
attribute.  This statement does not require any new fair value
measurements.  However, for some entities, the application of the
statement will change current practice.  This statement is effective
for financial statements issued for fiscal years beginning after November 15,
2007, and interim periods within those fiscal years.  The Company is
currently reviewing the effect, if any, that this new pronouncement will have on
its financial statements.





There
were various other accounting standards and interpretations issued during 2006
or to February 29, 2008, none of which are expected to have a material impact on
the Company's financial position, operations or cash flows.


15


Item3.     Controls and
Procedures





We
carried out an evaluation of the effectiveness of the design and operation of
our disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) as of February 29, 2008.  This evaluation was
carried out under the supervision and with the participation of our Chief
Executive Officer and Chief Financial Officer, Ms. Tiffany
Walsh.  Based upon that evaluation, our Chief Executive Officer and
Chief Financial Officer concluded that, as of February 29, 2008, our disclosure
controls and procedures are effective.  There have been no changes in
our internal controls over financial reporting during the quarter ended February
29, 2008.





Disclosure
controls and procedures are controls and other procedures that are designed to
ensure that information required to be disclosed in our reports filed or
submitted under the Exchange Act are recorded, processed, summarized and
reported, within the time periods specified in the SEC's rules and forms.
Disclosure controls and procedures include, without limitation, controls and
procedures designed to ensure that information required to be disclosed in our
reports filed under the Exchange Act is accumulated and communicated to
management, including our Chief Executive Officer and Chief Financial Officer,
to allow timely decisions regarding required disclosure.





Limitations on the
Effectiveness of Internal Controls





Our
management does not expect that our disclosure controls and procedures or our
internal control over financial reporting will necessarily prevent all fraud and
material error. Our disclosure controls and procedures are designed to provide
reasonable assurance of achieving our objectives and our Chief Executive Officer
and Chief Financial Officer concluded that our disclosure controls and
procedures are effective at that reasonable assurance level.  Further,
the design of a control system must reflect the fact that there are resource
constraints, and the benefits of controls must be considered relative to their
costs. Because of the inherent limitations in all control systems, no evaluation
of controls can provide absolute assurance that all control issues and instances
of fraud, if any, within the Company have been detected. These inherent
limitations include the realities that judgments in decision-making can be
faulty, and that breakdowns can occur because of simple error or mistake.
Additionally, controls can be circumvented by the individual acts of some
persons, by collusion of two or more people, or by management override of the
internal control. The design of any system of controls also is based in part
upon certain assumptions about the likelihood of future events, and there can be
no assurance that any design will succeed in achieving its stated goals under
all potential future conditions. Over time, control may become inadequate
because of changes in conditions, or the degree of compliance with the policies
or procedures may deteriorate.


16


PART
II – OTHER INFORMATION





Item1.     Legal Proceedings





We are
not a party to any pending legal proceeding. We are not aware of any pending
legal proceeding to which any of our officers, directors, or any beneficial
holders of 5% or more of our voting securities are adverse to us or have a
material interest adverse to us.





Item2.     Unregistered Sales of Equity
Securities and Use of Proceeds





No
unregistered sales of equity securities were completed during the three month
period ended February 29, 2008.





Item3.     Defaults upon Senior
Securities





None





Item4.     Submission of Matters to a Vote
of Security Holders





No
matters have been submitted to our security holders for a vote, through the
solicitation of proxies or otherwise, during the quarterly period ended February
29, 2008.





Item5.     Other Information





None





Item6.      Exhibits





ExhibitNumber
            Description
      of Exhibit3.1
            Articles of Incorporation(1)3.2
            By-Laws(1)31.1
            Certification of Chief Executive Officer pursuant to 18
      U.S.C. Section 1350, as adopted pursuant to Section 302 of the
      Sarbanes-Oxley Act of 200231.2
            Certification of Chief Financial Officer pursuant to 18
      U.S.C. Section 1350, as adopted pursuant to Section 302 of the
      Sarbanes-Oxley Act of 200232.1
            Certification of Chief Executive Officer and Chief
      Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant
      to Section 906 of the Sarbanes-Oxley Act of
  2002


(1)
            Previously
      filed as an exhibit to the Registration Statement on Form SB-2 filed on
      August 17, 2007


17
  SIGNATURES





In
accordance with the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.





Buzz
      Media, Ltd.Date:
            April11,
      2008By:
              Tiffany
      Walsh
              Title:President,
      Chief Executive Officer,Chief
      Financial Officer, PrincipalExecutive
      Officer, and Director