----

----

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

----

|                                                                                                      | Page No.  |
|-----------------------------------------------------------------------------------------------------------|-----------|
| PART I. FINANCIAL INFORMATION                                                                             |
|                                                                                                      |      |
| Item 1. Financial Statements                                                                         |   2  |
|                                                                                                      |      |
| Condensed Consolidated Balance Sheets as of Feb. 28, 2011 (unaudited)  and August 31, 2010      |   2  |
|                                                                                                      |      |
| Condensed Consolidated Statements of Operations for the Three and Six Months Ended Feb. 28, 2011 and 2010 |   3  |
|                                                                                                      |      |
| Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended Feb. 28, 2011 and 2010 |   4  |
|                                                                                                      |      |
| Notes to Condensed Consolidated Financial Statements                                                      |   5  |
|                                                                                                      |      |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations  |   10 |
|                                                                                                      |      |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                   |   21 |
|                                                                                                      |      |
| Item 4. Controls and Procedures                                                                      |   21 |
|                                                                                                      |      |
| PART II. OTHER INFORMATION                                                                                |
|                                                                                                      |      |
| Item 1. Legal Proceedings                                                                            |   22 |
|                                                                                                      |      |
| Item 1A. Risk Factors                                                                                |   22 |
|                                                                                                      |      |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                  |   24 |
|                                                                                                      |      |
| Item 3. Defaults Upon Senior Securities                                                              |   24 |
|                                                                                                      |      |
| Item 4. (Removed and Reserved)                                                                       |   24 |
|                                                                                                      |      |
| Item 5. Other Information                                                                            |   24 |
|                                                                                                      |      |
| Item 6. Exhibits                                                                                     |   24 |
|                                                                                                      |      |
| Signature                                                                                                 |   25 |
|                                                                                                      |      |
|  EX-31.1                                                                                             |      |
|  EX-31.2                                                                                             |      |
|  EX-32.1                                                                                             |      |
|  EX-32.2                                                                                             |      |

----

| MADISON AVE. MEDIA. INC                                                                                |   |
|--------------------------------------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                                          |   |
| CONDENSED BALANCE SHEETS                                                                               |   |
|                                                                                                   |   |   |   |   |   |   |
|                                                                                                   |   | (Unaudited) |   |   |   |   |
|                                                                                                   |   | As of |   |   | As of |   |
|                                                                                                   |   | February 28, |   |   | August 31, |   |
|                                                                                                   |   | 2011 |   |   | 2010 |   |
| ASSETS                                                                                                 |
| Current assets:                                                                                        |   |   |   |   |   |   |
|      Cash                                                                     |   | $ | 107,102 |   |   | $ | 12,804 |   |
|      Accounts receivable, net                                                 |   |   | 31,111 |   |   |   | 9,684 |   |
|      Due from related parties                                                 |   |   | 26,061 |   |   |   | - |   |
|           Total current assets                       |   |   | 164,274 |   |   |   | 22,488 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Property and equipment, net                                                                            |   |   | 28,605 |   |   |   | 122,343 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Other assets, net                                                                                      |   |   | 37,534 |   |   |   | 8,024 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Intangible asset, net                                                                                  |   |   | 293,216 |   |   |   | 389,400 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
|           TOTAL ASSETS                               |   | $ | 523,629 |   |   | $ | 542,255 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| LIABILITIES AND SHAREHOLDERS'  EQUITY                                                        |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Current liabilities:                                                                                   |   |   |   |   |   |   |   |   |
|      Accounts payable                                                         |   | $ | 170,063 |   |   | $ | 351,676 |   |
|      Payroll liabilities                                                      |   |   | 107,020 |   |   |   | 435,268 |   |
|      Due to related parties                                                   |   |   | 306,635 |   |   |   | 197,672 |   |
|           Total current liabilities                  |   |   | 583,718 |   |   |   | 984,616 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
|      Convertible notes payable                                                |   |   | 586,839 |   |   |   | - |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
|          Total liabilities                                |   |   | 1,170,557 |   |   |   | 984,616 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Stockholders' Equity (Deficiency):                                                                     |   |   |   |   |   |   |   |   |
| Common stock, par value $0.0001 per share; 150,000,000 shares                                          |   |   |   |   |   |   |   |   |
| authorized: and 73,746,502 shares and 59,061,502 issued and                                            |   |   |   |   |   |   |   |   |
| outstanding as of February 28, 2011 and August 31, 2010                                                |   |   | 7,374 |   |   |   | 5,906 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Additional paid-in capital                                                                             |   |   | 1,644,216 |   |   |   | 1,116,368 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |
| Deficit accumulated during the development stage                                                       |   |   | (2,298,519 | ) |   |   | (1,564,636 | ) |
|                                                                                                   |   |   | (646,928 | ) |   |   | (442,362 | ) |
|           TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |   | $ | 523,629 |   |   | $ | 542,254 |   |

----

| MADISON AVE. MEDIA, INC.                                                   |
|----------------------------------------------------------------------------|
| (A Development Stage Company)                                              |
| CONDENSED STATEMENT OF OPERATIONS (UNAUDITED)                              |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | July 23, 2007 |   |
|                                                                       |   | Three months |   |   | Three months |   |   | Six months |   |   | Six months |   |   |   |   |   | (inception) |   |
|                                                                       |   | ended |   |   | ended |   |   | ended |   |   | ended |   |   | Year Ended |   |   | through |   |
|                                                                       |   | February 28, |   |   | February 28, |   |   | February 28, |   |   | February 28, |   |   | August 31, |   |   | February 28, |   |
|                                                                       |   | 2011 |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |   | 2010 |   |   | 2011 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                                                   |   | $ | 11,347 |   |   | $ | 28 |   |   | $ | 65,669 |   |   | $ | 257 |   |   | $ | 205,853 |   |   | $ | 271,522 |   |
| Cost of Revenues                                                           |   |   | 5,801 |   |   |   |   |   |   |   | 39,363 |   |   |   | - |   |   |   | 104,604 |   |   |   | 143,967 |   |
| Gross Profit                                                               |   |   | 5,546 |   |   |   | 28 |   |   |   | 26,306 |   |   |   | 257 |   |   |   | 101,249 |   |   |   | 127,555 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EXPENSES:                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Selling, general and administrative          |   |   | 506,505 |   |   |   | 162,653 |   |   |   | 737,972 |   |   |   | 276,078 |   |   |   | 1,195,326 |   |   |   | 2,369,109 |   |
|      Depreciation and amortization                |   |   | 9,303 |   |   |   | 4,617 |   |   |   | 22,216 |   |   |   | 4,617 |   |   |   | 32,237 |   |   |   | 56,963 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|           Total expenses |   |   | 515,808 |   |   |   | 167,270 |   |   |   | 760,188 |   |   |   | 280,695 |   |   |   | 1,227,563 |   |   |   | 2,426,072 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from operations                                                       |   |   | (510,263 | ) |   |   | (167,242 | ) |   |   | (733,883 | ) |   |   | (280,438 | ) |   |   | (1,126,314 | ) |   |   | (2,298,518 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET (LOSS)                                                                 |   | $ | (510,263 | ) |   | $ | (167,242 | ) |   | $ | (733,883 | ) |   | $ | (280,438 | ) |   | $ | (1,126,314 | ) |   | $ | (2,298,518 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC EARNINGS (LOSS) PER SHARE                                            |   | $ | (0.01 | ) |   | $ | (0.03 | ) |   | $ | (0.01 | ) |   | $ | (0.05 | ) |   | $ | (0.33 | ) |   | $ | (0.03 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE NUMBER OF COMMON                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| SHARES OUTSTANDING                                                         |   |   | 78,139,835 |   |   |   | 5,492,952 |   |   |   | 78,139,835 |   |   |   | 5,492,952 |   |   |   | 3,384,931 |   |   |   | 78,139,835 |   |

----

| Madison Ave. Media, Inc.                             |   |
|------------------------------------------------------|--------|
| Statements of Shareholders Equity                    |   |
| (A Development Stage Company)                        |   |
| From July 23, 2007 (inception) to February 28, 2011  |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   |   |   |   |   |   |   |   |   |   | Deficit |   |   |   |   |
|                                                 |   |   |   |   |   |   |   |   |   |   | Accumulated |   |   |   |   |
|                                                 |   |   |   |   | Common |   |   | Additional |   |   | During |   |   |   |   |
|                                                 |   | Common |   |   | Stock |   |   | Paid-in |   |   | Development |   |   |   |   |
|                                                 |   | Stock |   |   | Amount |   |   | Capital |   |   | Stages |   |   | Total |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Beginning balance, July 23, 2007                     |   |   |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock issued to founder on August 13, 2007           |   |   | 1,500,000 |   |   |   | 150 |   |   |   | 14,850 |   |   |   |   |   |   |   | 15,000 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss, year ended August 31, 2007                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (9,027 | ) |   |   | (9,027 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BALANCE AUGUST 31, 2007                              |   |   | 1,500,000 |   |   |   | 150 |   |   |   | 14,850 |   |   |   | (9,027 | ) |   |   | 5,973 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock issued for cash on December 31, 2007           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| @ $0.025 per share                                   |   |   | 1,000,000 |   |   |   | 100 |   |   |   | 24,900 |   |   |   |   |   |   |   | 25,000 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss, year ended August 31, 2008                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (18,819 | ) |   |   | (18,819 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BALANCE AUGUST 31, 2008                              |   |   | 2,500,000 |   |   |   | 250 |   |   |   | 39,750 |   |   |   | (27,846 | ) |   |   | 12,154 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock issued for cash on May 12, 2009                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| @ $0.025 per share                                   |   |   | 4,000,000 |   |   |   | 400 |   |   |   | 39,400 |   |   |   |   |   |   |   | 39,800 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   |   | 13,000,000 |   |   |   | 1300 |   |   |   | (1,300 | ) |   |   |   |   |   |   |   |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss, year ended August 31, 2009                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (410,476 | ) |   |   | (410,476 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BALANCE AUGUST 31, 2009                              |   |   | 19,500,000 |   |   |   | 1950 |   |   |   | 77,850 |   |   |   | (438,322 | ) |   |   | (358,522 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued for cash September 1, 2009             |   |   | 125,000 |   |   |   | 13 |   |   |   | 124,987 |   |   |   |   |   |   |   | 125,000 |   |
| @ $0.14026 per share                                 |   |   | 2,905,002 |   |   |   | 290 |   |   |   | 299,710 |   |   |   |   |   |   |   | 300,000 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Share exchange on January 15, 2010 to the            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| shareholders of TeCoup.com, LLC @.$001 per share     |   |   | 2,000,000 |   |   |   | 200 |   |   |   | 74,877 |   |   |   |   |   |   |   | 75,077 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Board Members on January 20,        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2010 for services @ $0.02195 per share               |   |   | 734,000 |   |   |   | 73 |   |   |   | 16,112 |   |   |   |   |   |   |   | 16,185 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Cracker Jack on March 1, 2010       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ $0.2195 per share                     |   |   | 250,000 |   |   |   | 25 |   |   |   | 6,274 |   |   |   |   |   |   |   | 6,299 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Robert Mirabito on March 1, 2010    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ $0.02195 per share                    |   |   | 100,000 |   |   |   | 10 |   |   |   | 2,185 |   |   |   |   |   |   |   | 2,195 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock issued for cash March 17, 2010                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| @ $1.00 per share                                    |   |   | 42,000 |   |   |   | 4 |   |   |   | 41,996 |   |   |   |   |   |   |   | 42,000 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Group Molinari on May 31, 2010      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| to aquire 100% of the capital stock of Promark       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Data and Media LLC @0.0125 per share                 |   |   | 33,000,000 |   |   |   | 3,300 |   |   |   | 409,200 |   |   |   |   |   |   |   | 412,500 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to various people on July 28, 2010 for |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| services @ 0.02195 per share                         |   |   | 350,000 |   |   |   | 35 |   |   |   | 7,683 |   |   |   |   |   |   |   | 7,718 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued for cash August 27, 2010               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| @ $1.00 per share                                    |   |   | 55,500 |   |   |   | 6 |   |   |   | 55,494 |   |   |   |   |   |   |   | 55,500 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss, year ended August 31, 2010                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (1,126,314 | ) |   |   | (1,126,314 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BALANCE AUGUST 31, 2010                              |   |   | 59,061,502 |   |   |   | 5,906 |   |   |   | 1,116,368 |   |   |   | (1,564,636 | ) |   |   | (442,362 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to various people on September 1, 2010 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ 0.02195 per share                     |   |   | 1,450,000 |   |   |   | 145 |   |   |   | 318,130 |   |   |   |   |   |   |   | 318,275 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued for cash August 27, 2010               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| @ $1.00 per share now cancelled                      |   |   | (55,500 | ) |   |   | (6 | ) |   |   | (55,494 | ) |   |   |   |   |   |   | (55,500 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Cracker Jack on October 23, 2010    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ $0.2195 per share                     |   |   | (250,000 | ) |   |   | (25 | ) |   |   | (6,274 | ) |   |   |   |   |   |   | (6,299 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to various people on October 23, 2010  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ 0.02195 per share                     |   |   | 200,000 |   |   |   | 20 |   |   |   | 4,370 |   |   |   |   |   |   |   | 4,390 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to various people on November 1, 2010  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ 0.02195 per share                     |   |   | 140,500 |   |   |   | 14 |   |   |   | 3,070 |   |   |   |   |   |   |   | 3,084 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to various people on November 3, 2010  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ $0.02195 per share                    |   |   | 150,000 |   |   |   | 15 |   |   |   | 3,278 |   |   |   |   |   |   |   | 3,293 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Sean McGar on November 5, 2010      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for services @ $0.02195 per share                    |   |   | 350,000 |   |   |   | 35 |   |   |   | 7,648 |   |   |   |   |   |   |   | 7,683 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Group Molinari on October 31,       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2010 to aquire certain assets of Financial Network   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Media, LLC                                           |   |   | 25,000,000 |   |   |   | 2,500 |   |   |   | 312,500 |   |   |   |   |   |   |   | 315,000 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss, period ended November 30, 2010             |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (223,620 | ) |   |   | (223,620 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BALANCE NOVEMBER 30, 2010                            |   |   | 86,046,502 |   |   |   | 8,604 |   |   |   | 1,703,596 |   |   |   | (1,788,256 | ) |   |   | (350,982 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued for cash February 14, 2011             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| @ $0.02 per share                                    |   |   | 12,500,000 |   |   |   | 1,250 |   |   |   | 248,750 |   |   |   |   |   |   |   | 250,000 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks returned by Group Molinari on February 23,    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2011 and the agreement to aquire certain assets      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| of Financial Network Media, LLC cancelled            |   |   | (25,000,000 | ) |   |   | (2,500 | ) |   |   | (312,500 | ) |   |   |   |   |   |   | (315,000 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stocks issued to Sean McGar on February 23, 2011     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | - |   |
| for services @ $0.02195 per share                    |   |   | 200,000 |   |   |   | 20 |   |   |   | 4,370 |   |   |   |   |   |   |   | 4,390 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss, period ended February 28, 2011             |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (510,263 | ) |   |   | (223,620 | ) |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   |   | 73,746,502 |   |   | $ | 7,374 |   |   | $ | 1,644,216 |   |   | $ | (2,298,519 | ) |   | $ | (635,212 | ) |

----

| MADISON AVE. MEDIA, INC.                                                                                                       |   |
|--------------------------------------------------------------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                                                                  |   |
| CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)                                                                                  |   |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | July 23, 2007 |   |
|                                                                                                                           |   | Three months |   |   | Three months |   |   | Six months |   |   | Six months |   |   |   |   |   | (inception) |   |
|                                                                                                                           |   | ended |   |   | ended |   |   | ended |   |   | ended |   |   | Year Ended |   |   | through |   |
|                                                                                                                           |   | February 28, |   |   | February 28, |   |   | February 28, |   |   | February 28, |   |   | August 31, |   |   | February 28, |   |
|                                                                                                                           |   | 2011 |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |   | 2010 |   |   | 2011 |   |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                                                       |   | $ | (510,263 | ) |   | $ | (166,696 | ) |   | $ | (733,883 | ) |   | $ | (280,438 | ) |   | $ | (1,126,314 | ) |   | $ | (2,298,519 | ) |
|      Adjustments to reconcile increase(decrease) in net                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      assets to cash provided by operating activities:                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|           Depreciation                                                       |   |   | (12,690 | ) |   |   | 9,769 |   |   |   | 223 |   |   |   | 9,992 |   |   |   | 32,237 |   |   |   | 35,213 |   |
|           Valuation adjustment of fixed assets                               |   |   | 189,922 |   |   |   | - |   |   |   | 189,922 |   |   |   |   |   |   |   | - |   |   |   | 189,922 |   |
|           Changes in operating assets and liabilities:                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | - |   |
|               (Increase) in other current assets         |   |   | (15,806 | ) |   |   | - |   |   |   | (21,427 | ) |   |   | - |   |   |   | - |   |   |   | (31,111 | ) |
|               Increase in accounts payable               |   |   | (354,661 | ) |   |   | 148,599 |   |   |   | (181,836 | ) |   |   | (115,289 | ) |   |   | 57,860 |   |   |   | 169,840 |   |
|               (Increase) in other assets                 |   |   | (29,510 | ) |   |   | (180 | ) |   |   | (29,510 | ) |   |   | (180 | ) |   |   | (6,490 | ) |   |   | (37,534 | ) |
|               Increase in payroll liabilities            |   |   | (328,248 | ) |   |   | 78,391 |   |   |   | (328,248 | ) |   |   | 119,435 |   |   |   | 391,691 |   |   |   | 107,020 |   |
|               Increase in amounts due to related parties |   |   | 81,612 |   |   |   | (89,880 | ) |   |   | 82,902 |   |   |   | (148,364 | ) |   |   | 118,951 |   |   |   | 285,726 |   |
| Net cash (used in) provided by operating activities                                                                            |   |   | (979,644 | ) |   |   | (19,997 | ) |   |   | (1,021,857 | ) |   |   | (414,844 | ) |   |   | (532,065 | ) |   |   | (1,618,843 | ) |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Purchases of property and equipment                                                              |   |   | - |   |   |   | (27,497 | ) |   |   | - |   |   |   | (27,497 | ) |   |   | (148,632 | ) |   |   | (162,485 | ) |
|      Purchases of intangible property                                                                 |   |   | 330,730 |   |   |   | 30,699 |   |   |   | - |   |   |   |   |   |   |   | (350,000 | ) |   |   | (350,000 | ) |
| Net (cash used) in investing activities                                                                                        |   |   | 330,730 |   |   |   | 3,202 |   |   |   | - |   |   |   | (27,497 | ) |   |   | (498,632 | ) |   |   | (512,485 | ) |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Issuance of common stock                                                                         |   |   | 1,468 |   |   |   | (273 | ) |   |   | 1,468 |   |   |   | 576 |   |   |   | 3,956 |   |   |   | 7,374 |   |
|      Additional paid in capital                                                                       |   |   | (59,299 | ) |   |   | 16,112 |   |   |   | 527,847 |   |   |   | 440,809 |   |   |   | 1,038,518 |   |   |   | 1,644,216 |   |
|      Convertible notes payable                                                                        |   |   | 586,839 |   |   |   | - |   |   |   | 586,839 |   |   |   | - |   |   |   | - |   |   |   | 586,839 |   |
| Net cash used in provided by financing activities                                                                              |   |   | 529,008 |   |   |   | 15,839 |   |   |   | 1,116,155 |   |   |   | 441,385 |   |   |   | 1,042,474 |   |   |   | 2,238,430 |   |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (DECREASE) INCREASE IN CASH                                                                                                    |   |   | (119,906 | ) |   |   | (956 | ) |   |   | 94,298 |   |   |   | (956 | ) |   |   | 11,778 |   |   |   | 107,102 |   |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH - BEGINNING OF YEAR                                                                                                       |   |   | 12,804 |   |   |   | 1,026 |   |   |   | 12,804 |   |   |   | 1,026 |   |   |   | 1,026 |   |   |   | - |   |
|                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH - END OF YEAR                                                                                                             |   | $ | (107,102 | ) |   | $ | 70 |   |   | $ | 107,102 |   |   | $ | 70 |   |   | $ | 12,804 |   |   | $ | 107,102 |   |

----

| MADISON AVE. MEDIA, INC.                                                                                                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (A Development Stage Company)                                                                                                                                                               |
| CONDENSED BALANCE SHEETS                                                                                                                                                                    |
|                                                                                                                                                                                        |   | (Unaudited) |   |   |   |   |
|                                                                                                                                                                                        |   | As of |   |   | As of |   |
|                                                                                                                                                                                        |   | Feb. 28, |   |   | August 31, |   |
|                                                                                                                                                                                        |   | 2011 |   |   | 2010 |   |
| ASSETS                                                                                                                                                                                      |   |   |   |   |   |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |
| Current assets:                                                                                                                                                                             |   |   |   |   |   |   |
|      Cash                                                                                                                                                          |   |   | 97181 |   |   | $ | 12,804 |   |
|      Other current assets                                                                                                                                          |   |   | 45684 |   |   |   | 9,684 |   |
|      Accounts Receivable                                                                                                                                           |   |   | 58146 |   |   |   |   |   |
|           Total current assets                                                                                                            |   |   | 201011 |   |   |   | 22,488 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Property and equipment, net                                                                                                                                                                 |   |   | 16242 |   |   |   | 122,343 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Other assets, net                                                                                                                                                                           |   |   | 96465 |   |   |   | 8,024 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Goodwill                                                                                                                                                                                    |   |   |   |   |   |   | 39,400 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Intangible asset, net                                                                                                                                                                       |   |   | 50000 |   |   |   | 350,000 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
|           TOTAL ASSETS                                                                                                                    |   |   | 363718 |   |   | $ | 542,254 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| LIABILITIES AND SHAREHOLDERS' EQUITY                                                                                                                                                        |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Current liabilities:                                                                                                                                                                        |   |   |   |   |   |   |   |   |
|      Accounts payable                                                                                                                                              |   |   | 122705 |   |   | $ | 351,676 |   |
|      Payroll liabilities                                                                                                                                           |   |   | 230441 |   |   |   | 435,268 |   |
|      Due to related parties                                                                                                                                        |   |   | 189400 |   |   |   | 197,672 |   |
|      Convertible Notes Payable                                                                                                                                     |   |   | 586839 |   |   |   |   |   |
|           Total current liabilities                                                                                                       |   |   | 1129355 |   |   |   | 984,616 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
|          Total liabilities                                                                                                                     |   |   | 1129355 |   |   |   | 984,616 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Stockholders' Equity (Deficiency):                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Common stock, par value $0.0001 per share; 150,000,000 shares authorized: and 74,996,502 shares and 58,614,002 issued and outstanding as of Feb. 28, 2011 and August 31, 2010, respectively |   |   | 7500 |   |   |   | 5,906 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Additional paid-in capital                                                                                                                                                                  |   |   |   |   |   |   | 1,116,368 |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |
| Deficit accumulated during the development stage                                                                                                                                            |   |   |   |   |   |   | (1,564,636 | ) |
|  Stockholders' Equity                                                                                                                                                                  |   |   |   |   |   |   | (442,362 | ) |
|           TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                      |   |   | 363718 |   |   | $ | 542,254 |   |

|                                                                                       |   |         |        |   |         |   |        |       |   |   |
|--------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|--------------|--------|-------------|------------|--------|--------|
|                                                                                       |   |         |        |   |         |   |        |       |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |
|                                                                                       |   | Three Months |        |   | Three Months |   |        | Six Months |
|                                                                                       |   | Ended        |        |   | Ended        |   |        | Ended      |
|                                                                                       |   | 02/28/11     |        |   | 02/28/10     |   |        | 02/28/11   |
|                                                                                       |   |         |        |   |         |   |        |       |
|                                                                                       |   |         |        |   |         |   |        |       |
| REVENUES                                                                                   |   | $            | 33,336.00   |   |         | $      | 28.00       |       |   | $      | 87,658.00 |   |   |
| Cost of Revenues                                                                           |   | $            | 30,097.00   |   |         | $      | 0.00        |       |   | $      | 62,659.00 |   |   |
|              Gross Profit |   | $            | 3,239.00    |   |         | $      | 28.00       |       |   | $      | 24,999.00 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |
| EXPENSES:                                                                                  |   |         |        |   |         |   |        |       |   |   |   |   |   |
|      Selling, general and administrative                          |   | $            | 564,058.00  |   |         | $      | 162,653.00  |       |   |   | 795,525.00 |   |   |
|      Depreciation and amortization                                |   | $            | 0.00        |   |         | $      | 4,617.00    |       |   | $      | 12,913.00 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |
|           Total expenses                 |   | $            | 564,058.00  |   |         | $      | 167,242.00  |       |   | $      | 808,438.00 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |
| Loss from operations                                                                       |   | $            | -560,819.00 |   |         | $      | -167,242.00 |       |   | $      | -783,438.00 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |
| NET INCOME (LOSS)                                                                          |   | $            | -560,819.00 |   |         |   | -167,242.00 |       |   | $      | -783,438.00 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |
| BASIC EARNINGS (LOSS) PER SHARE                                                            |   | $            | -0.01       |   |         | $      | -0.03       |       |   | $      | -0.01 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING                                       |   |         | 74,996,502  |   |         |   | 5,492,952   |       |   |   | 74966502 |   |   |
|                                                                                       |   |         |        |   |         |   |        |       |   |   |   |   |   |

|                                                                                       |         |                            |        |       |   |   |              |   |         |
|--------------------------------------------------------------------------------------------|--------------|---------------------------------|-------------|------------|--------|--------|-------------------|--------|--------------|
|                                                                                       |         |                            |        |       |   |   |              |   |         |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
|                                                                                       |         |                            |        |       |
|                                                                                       | Three Months |     Three Months |        | Six Months |
|                                                                                       | Ended        |    Ended              |        | Ended      |
|                                                                                       | 02/28/11     |    02/28/10           |        | 02/28/11   |
| REVENUES                                                                                   |         | $                               | 33,336.00   |       |   | $      | 28.00             |   | $87,658.00   |
| Cost of Revenues                                                                           |         | $                               | 30,097.00   |       |   | $      | 0.00              |   | $62,659.00   |
|              Gross Profit |         | $                               | 3,239.00    |       |   | $      | 28.00             |   | $24,999.00   |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| EXPENSES:                                                                                  |         |                            |        |       |   |   |              |   |         |
|      Selling, general and administrative                          |         | $                               | 564,058.00  |       |   | $      | 162,653.00        |   | $795,525.00  |
|      Depreciation and amortization                                |         | $                               | 0.00        |       |   | $      | 4,617.00          |   | $12,913.00   |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
|           Total expenses                 |         | $                               | 564,058.00  |       |   | $      | 167,242.00        |   | $808,438.00  |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| Loss from operations                                                                       |         | $                               | -560,819.00 |       |   | $      | -167,242.00       |   | -$783,438.00 |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| NET INCOME (LOSS)                                                                          |         | $                               | -560,819.00 |       |   |   |  -167,242.00 |   | -$783,438.00 |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| BASIC EARNINGS (LOSS) PER SHARE                                                            |         | $                               | -0.01       |       |   | $      | -0.03             |   | -$0.01       |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING                                       |         |                            | 74,996,502  |       |   |   | 5,492,952         |   | 74966502     |
|                                                                                       |         |                            |        |       |   |   |              |   |         |

|                                                                                       |         |                            |        |       |   |   |              |   |         |
|--------------------------------------------------------------------------------------------|--------------|---------------------------------|-------------|------------|--------|--------|-------------------|--------|--------------|
|                                                                                       |         |                            |        |       |   |   |              |   |         |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
|                                                                                       |         |                            |        |       |
|                                                                                       | Three Months |     Three Months |        | Six Months |
|                                                                                       | Ended        |    Ended              |        | Ended      |
|                                                                                       | 02/28/11     |    02/28/10           |        | 02/28/11   |
| REVENUES                                                                                   |         | $                               | 33,336.00   |       |   | $      | 28.00             |   | $87,658.00   |
| Cost of Revenues                                                                           |         | $                               | 30,097.00   |       |   | $      | 0.00              |   | $62,659.00   |
|              Gross Profit |         | $                               | 3,239.00    |       |   | $      | 28.00             |   | $24,999.00   |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| EXPENSES:                                                                                  |         |                            |        |       |   |   |              |   |         |
|      Selling, general and administrative                          |         | $                               | 564,058.00  |       |   | $      | 162,653.00        |   | $795,525.00  |
|      Depreciation and amortization                                |         | $                               | 0.00        |       |   | $      | 4,617.00          |   | $12,913.00   |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
|           Total expenses                 |         | $                               | 564,058.00  |       |   | $      | 167,242.00        |   | $808,438.00  |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| Loss from operations                                                                       |         | $                               | -560,819.00 |       |   | $      | -167,242.00       |   | -$783,438.00 |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| NET INCOME (LOSS)                                                                          |         | $                               | -560,819.00 |       |   |   |  -167,242.00 |   | -$783,438.00 |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| BASIC EARNINGS (LOSS) PER SHARE                                                            |         | $                               | -0.01       |       |   | $      | -0.03             |   | -$0.01       |
|                                                                                       |         |                            |        |       |   |   |              |   |         |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING                                       |         |                            | 74,996,502  |       |   |   | 5,492,952         |   | 74966502     |
|                                                                                       |         |                            |        |       |   |   |              |   |         |

| MADISON AVE. MEDIA, INC.                                                                                                             |   |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                                                                        |   |
| CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)                                                                                        |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                 |   | Six months |   |   | Six months |   |   |   |
|                                                                                                                                 |   | Ending |   |   | Ending |   |   |   |
|                                                                                                                                 |   | 02/28/11 |   |   | 02/28/10 |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                                                                |   |   |   |   |   |   |   |   |
| Net loss                                                                                                                             |   |   |   |   |   |   | -280438 |   |   |   |   | ) |
| Adjustments to reconcile increase(decrease) in net assets  to cash provided by operating activities:                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|           Depreciation                                                             |   |   |   |   |   |   | 9992 |   |   |   |   |   |
|           Amortization                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
|           Changes in operating assets and liabilities:                             |   |   |   |   |   |   |   |   |   |   |   |   |
|               (Increase) in other current assets               |   |   |   |   |   |   |   |   |   |   |   | ) |
|               (Decrease)/increase in accounts payable          |   |   |   |   |   |   | -115289 |   |   |   |   |   |
|               (Increase) in other assets                       |   |   |   |   |   |   | -180 |   |   |   |   | ) |
|               (Increase) in goodwill                           |   |   |   |   |   |   | -200 |   |   |   |   | ) |
|               Increase in payroll liabilities                  |   |   |   |   |   |   | 119635 |   |   |   |   |   |
|               (Decrease)/increase in amounts due to related parties |   |   |   |   |   |   | -148364 |   |   |   |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash (used in) operating activities                                                                                              |   |   |   |   |   |   | -414844 |   |   |   |   | ) |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
|      Purchases of property and equipment                                                                    |   |   |   |   |   |   | -27497 |   |   |   |   |   |
|      Purchases of  intangible property                                                            |   |   |   |   |   |   |   |   |   |   |   | ) |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (cash used) in investing activities                                                                                              |   |   |   |   |   |   | -27497 |   |   |   |   | ) |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance of common stock                                                                                                             |   |   |   |   |   |   | 576 |   |   |   |   |   |
| Additional paid in capital                                                                                                           |   |   |   |   |   |   | 440809 |   |   |   |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash provided by financing activities                                                                                            |   |   |   |   |   |   | 441385 |   |   |   |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| (DECREASE) INCREASE IN CASH                                                                                                          |   |   |   |   |   |   | -956 |   |   |   |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH - BEGINNING OF YEAR                                                                                                             |   |   |   |   |   |   | 1026 |   |   |   |   |   |
|                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| CASH - END OF YEAR                                                                                                                   |   |   |   |   |   |   | 70 |   |   |   |   |   |

----

| 1. | DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|----|------------------------------------------------------------------------|

|   | Furniture & Fixtures | 5-7 years                      |
|--------|--------------------------|--------------------------------|
|   | Office Equipment         | 5-7 years                      |
|   | Computer Software        | 5    years |

|                              |   | August 31  |   |   | 02/28/11 |   |
|-----------------------------------|--------|------------|--------|--------|----------|--------|
|                              |   |  2010 |   |   |     |   |
|                              |   |       |   |   |     |   |
|                              |   |       |   |   |     |   |
| Statutory federal income tax rate |   |       | 34     | %      |     |   | 34 | % |
| Valuation allowance               |   |       | (34    | )      |     |   | (34 | ) |
|                              |   |       |   |   |     |   |   |   |
| Effective tax rate                |   | 0%         |   |   | 0%       |   |

| 2. | GOING CONCERN |
|----|---------------|

| 3.  | BUSINESS ACQUISITION AND COMBINATION |
|----------|--------------------------------------|

| 4. | FIXED ASSETS |
|----|--------------|

| 5. | INTANGIBLE ASSET |
|----|------------------|

| 6.  | STOCKHOLDERS EQUITY AND CONVERTIBLE DEBT |
|----------|------------------------------------------|

| 7. |  COMMITMENTS AND CONTINGENCIES |
|----|-------------------------------------|

| 8. | RELATED PARTY TRANSACTIONS |
|----|----------------------------|

| 9. | RECENT ACCOUNTING PRONOUNCEMENTS |
|----|----------------------------------|

| 10.  | SUBSEQUENT EVENTS |
|-----------|-------------------|

----

----

----

| ·   | Target only the consumers most likely to be interested in a client’s offers, products and services |
|--------------------|----------------------------------------------------------------------------------------------------------|

| ·   | Tailor compelling offers and promotions that generate interest and motivate consumer interaction and commitment |
|--------------------|-----------------------------------------------------------------------------------------------------------------|

| ·   | Provide accurate, measurable results |
|--------------------|--------------------------------------|

| ·   | Maximize campaign performance, sales revenue and return on investment. |
|--------------------|------------------------------------------------------------------------|

----

| ·   | Comprehensive Multimedia Streaming – built around a full-featured media player and powered by a proprietary technology that enables real-time video content streaming to video-ready mobile devices, as well as computer-based displays; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comprehensive Multimedia Content - with interactive access to IMG “preferred” and user-selectable world, U.S., local, sports, financial, health, lifestyle, entertainment, political, science and weather news content; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comprehensive Search Capabilities – a full-service Internet search engine that displays search criteria, search results (including results from competing search sites), sponsored results, proprietary local and regional classified ads and other advertising; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comprehensive e-Commerce Capabilities – populated with IMG “preferred” stores, as well as other user-selectable stores, it includes a shopping comparison engine, a clearinghouse for store/advertiser discounts and special deals, and complete integration with Madison Ave. Media’s mobile couponing system; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comprehensive Data Acquisition – including user polls and surveys, as well as dating, travel, real estate and job sites that yield valuable personal and behavioral information; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Comprehensive Social Networking and Communication Capabilities – including integrated email, IM and chat rooms, as well as full-featured, user-created personal and blog sites and a host of additional “sticky” features to help make sure users stick around. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Outbound mobile text coupon campaigns |
|--------------------|---------------------------------------|

| ·   | Outbound direct email campaigns |
|--------------------|---------------------------------|

| ·   | Data appending services |
|--------------------|-------------------------|

| ·   | List management services |
|--------------------|--------------------------|

| ·   | Market survey services |
|--------------------|------------------------|

| ·   | New offer and product testing services |
|--------------------|----------------------------------------|

| ·   | Customized, turnkey mobile and email marketing services |
|--------------------|---------------------------------------------------------|

----

| ·   | Strategic Development, Marketing and Communications Resources – linking brand, message, technology and customers; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------|

| ·   | Multi-Channel Media Resources – delivering value wherever customers may be. |
|--------------------|-----------------------------------------------------------------------------------|

| ·   | A single point solution to obtain a specific service, such as implementing a personalized mobile campaign that drives tactical revenue and profit; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Utilize integrated services, such as repositioning an established company or brand and building and implementing a targeted media campaign using predictive modeling to dynamically manage SEO; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Leverage all integrated services, such as reviving a brand, creating multi-channel content that explains its new “bankable” story, and demonstrating real-time synergistic benefits with maximized customer conversions. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Strategic Development, Marketing and Communications Solutions |
|--------------------|---------------------------------------------------------------|

| o   | Strategic Development and Marketing Group |
|---------------|-------------------------------------------|

| o   | Strategic Communications Group |
|---------------|--------------------------------|

| o   | Content Development and Production Group |
|---------------|------------------------------------------|

| ·   | Interactive Media Technology and Solutions |
|--------------------|--------------------------------------------|

| o   | Mobile Marketing Group |
|---------------|------------------------|

| o   | Email Marketing Group |
|---------------|-----------------------|

| o   | Internet Marketing Group |
|---------------|--------------------------|

| o   | Web Content Management Systems Group |
|---------------|--------------------------------------|

----

| ·   | Advanced Hybrid Media Solutions |
|--------------------|---------------------------------|

| o   | The Madison Ave. Media Exchange |
|---------------|---------------------------------|

| o   | Direct Response Marketing Group |
|---------------|---------------------------------|

| ·   | Technology and Business Intelligence Solutions |
|--------------------|------------------------------------------------|

| o   | Business Intelligence |
|---------------|-----------------------|

| o   | Predictive Modeling |
|---------------|---------------------|

| o   | Search Engine Optimization |
|---------------|----------------------------|

| o   | Data Services |
|---------------|---------------|

----

| ·   | Financial Services |
|--------------------|--------------------|

| ·   | Business Intelligence |
|--------------------|-----------------------|

| ·   | Strategic Development, Brand, Marketing and Communications |
|--------------------|------------------------------------------------------------|

| ·   | Content Creation |
|--------------------|------------------|

| ·   | Mobile Marketing |
|--------------------|------------------|

| ·   | Email Marketing |
|--------------------|-----------------|

| ·   | Internet Marketing |
|--------------------|--------------------|

| ·   | Direct Response Marketing |
|--------------------|---------------------------|

| ·   | DBI Services and Marketing |
|--------------------|----------------------------|

| ·   | Web Content Management Systems |
|--------------------|--------------------------------|

| ·   | Content Development and Production Services |
|--------------------|---------------------------------------------|

| ·   | Multimedia Streaming Services |
|--------------------|-------------------------------|

| ·   | Mobile Payment/Processing Services |
|--------------------|------------------------------------|

----

----

----

|   | • | Our success in raising additional equity capital or debt financing;     |
|--------|---------|-------------------------------------------------------------------------|
|   | • | Our ability to attract customers who will buy our services from us; and |
|   | • | Our ability to generate revenues through the sale of our services.      |

----

|   | • | variations in our operating results, including any decline in our revenues;                                                                                     |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |    |                                                                                                                                                            |
|   | • | announcements of technological innovations, new products and services, acquisitions, strategic alliances or significant agreements by us or by our competitors; |
|   |    |                                                                                                                                                            |
|   | • | recruitment or departure of key personnel;                                                                                                                      |
|   |    |                                                                                                                                                            |
|   | • | the financial projections we may provide to the public, any changes in these projections or our failure to meet these projections;                              |
|   |    |                                                                                                                                                            |
|   | • | changes in the estimates of our operating results or changes in recommendations by any securities analysts that elect to follow our common stock;               |
|   |    |                                                                                                                                                            |
|   | • | market conditions in our industry, the retail industry and the economy as a whole;                                                                              |
|   |    |                                                                                                                                                            |
|   | • | price and volume fluctuations in the overall stock market;                                                                                                      |
|   |    |                                                                                                                                                            |
|   | • | lawsuits threatened or filed against us or other disputes;                                                                                                      |
|   |    |                                                                                                                                                            |
|   | • | adoption or modification of regulations, policies, procedures or programs applicable to our business; and                                                       |
|   |    |                                                                                                                                                            |
|   | • | the volume of trading in our common stock, including sales upon exercise of outstanding options.                                                                |

----

|   | • | authorize the issuance of “blank check” preferred stock that could be issued by our board of directors to thwart a takeover attempt;                                                                                                       |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |    |                                                                                                                                                                                                                                                   |
|   | • | establish a classified board of directors, as a result of which the successors to the directors whose terms have expired will be elected to serve from the time of election and qualification until the third annual meeting following their election; |
|   |    |                                                                                                                                                                                                                                                   |
|   | • | require that directors only be removed from office for cause and only upon a majority stockholder vote;                                                                                                                                                |
|   |    |                                                                                                                                                                                                                                                   |
|   | • | provide that vacancies on our board of directors, including newly created directorships, may be filled only by a majority vote of directors then in office;                                                                                            |
|   |    |                                                                                                                                                                                                                                                   |
|   | • | limit who may call special meetings of stockholders;                                                                                                                                                                                                   |
|   |    |                                                                                                                                                                                                                                                   |
|   | • | prohibit stockholder action by written consent, thus requiring all actions to be taken at a meeting of the stockholders;                                                                                                                               |
|   |    |                                                                                                                                                                                                                                                   |
|   | • | require supermajority stockholder voting to effect certain amendments to our restated certificate of incorporation and amended and restated bylaws; and                                                                                                |
|   |    |                                                                                                                                                                                                                                                   |
|   | • | require advance notification of stockholder nominations and proposals.                                                                                                                                                                                 |

----

| Exhibit No. | Description                                           |
|-------------|-------------------------------------------------------|
|        |                                                  |
| 3.1         | Certificate of Merger*                                |
| 3.2         | Bylaws*                                               |
| 3.3         | 2009 Stock Incentive Plan*                            |
| 31.1        | Sec. 302 Certification of Principal Executive Officer |
| 31.2        | Sec. 302 Certification of Principal Financial Officer |
| 32.1        | Sec. 906 Certification of Principal Executive Officer |
| 32.2        | Sec. 906 Certification of Principal Financial Officer |

----

|                 | MADISON AVE.MEDIA, INC., Registrant                                                                                                                                                                                                                 |
|----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  April 14, 2011 |                                                                                                                                                                                                                                                |
|                 | By: /s/ JAMES LINDSEY                                      |
|                 |        JAMES LINDSEY                                                                                                                                                                                                  |
|                 |        President                                                                                                                                                                                                      |

|  April 14, 2011    | MADISON AVE. MEDIA, INC., Registrant                                                                                                                                                    |
|----------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                   |                                                                                                                                                                                    |
|                                   | By: /s/ J. FRANKLIN BRADLEY                           |
|                                   |       J. FRANKLIN BRADLEY                                                                                                                                 |
|                                   |        Vice President and Acting Principal                                                                                                           |
|                                   |        Accounting Officer                                                                                                                            |

----