UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C.  20549





FORM
10-Q





QUARTERLY
REPORT PURSUANT TO SECTION 15(d) OF THE


SECURITIES
EXCHANGE ACT OF 1934





For the
quarterly period ended September 30, 2009









a
Delaware corporation





1752 East
Avenue J  #266


Lancaster,
CA  93535


213-694-1888





Commission
file number: 333-156832


I.R.S.
Employer I.D. #: 56-2646829




Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days xYes  oNo





We are
not required to submit electronically nor post on our website any Interactive
Date Files pursuant to Rule 405 of Regulation S-T.





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.




Large accelerated
      filer         o
            Accelerated
      filer                      
      oNon-accelerated
      filer           o
              (Do not
      check if a smaller reporting company)
            Smaller reporting
      company     x





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




The
number of shares outstanding of our Common Stock is 84,519,822 as of November
10, 2009. There are no other classes of stock.










TABLE
OF CONTENTS




Unaudited Financial
      Statements
            3Management’s Discussion and
      Analysis of Financial Condition and Results of Operations
            11Controls and
      Procedures
            14Legal
    Proceedings
            15Exhibits
            15Signatures
            16




2




Unaudited
Financial Statements.


WRITERS'
GROUP FILM CORP.
 [A
Development Stage Company]
 CONSOLIDATED
BALANCE SHEETS
 (unaudited)


September
      30, 2009
              
              
              March
      31, 2009ASSETSCurrent
      AssetsCash
              
              $
              10,117
              
              
              $
              1,136Total
      Assets
              
              $
              10,117
              
              
              $
              1,136LIABILITIES
      AND STOCKHOLDERS' DEFICITCurrent
      LiabilitiesAccounts
      payable
              
              $
              4,030
              
              
              $
              4,887Convertible
      notes payable (net of unamortized discount
      of $22,000 and $0, respectively)
              
              
              -
              
              
              
              -Covertible
      notes payable - related party (net of unamortized discount
      of $10,000 and $0, respectively)
              
              
              -
              
              
              
              -Derivative
      liability for convertible note
              
              
              96,080
              
              
              
              -Total
      Liabilities
              
              
              100,110
              
              
              
              4,887Stockholders'
      DeficitCommon stock, $0.001 par,
      175,000,000 shares authorized, 84,519,822 and 64,519,822
      respectively issued and outstanding
              
              
              84,520
              
              
              
              64,520Additional paid-in
      capital
              
              
              295,928
              
              
              
              81,028Deficit accumulated during
      the development stage
              
              
              (470,441
              )
              
              
              (149,299
              )Total
      Stockholders' Deficit
              
              
              (89,993
              )
              
              
              (3,751
              )Total
      Liabilities and Stockholders' Deficit
              
              $
              10,117
              
              
              $
              1,136


See Notes
to Consolidated Financial Statements




3
 
  WRITERS' GROUP FILM
CORP.
 [A
Development Stage Company]
 CONSOLIDATED
STATEMENTS OF EXPENSES
 (Unaudited)


Three
      Months Ended
              
              
              Three
      Months Ended
              
              
              Six
      Months Ended
              
              
              Six
      Months Ended
              
              
              March
      9, 2007 (inception) throughSeptember
      30, 2009
              
              
              September
      30, 2008
              
              
              September
      30, 2009
              
              
              September
      30, 2008
              
              
              September
      30, 2009Revenues
              
              $
              -
              
              
              $
              -
              
              
              $
              -
              
              
              $
              -
              
              
              $
              9,425General
      and administrative
              
              
              225,990
              
              
              
              8,017
              
              
              
              235,062
              
              
              
              14,848
              
              
              
              393,262-
              
              
              
              
              
              
              
              -Interest
      and amortization of discount on debt
              
              
              86,080
              
              
              
              -
              
              
              
              86,080
              
              
              
              -
              
              
              
              86,120Bad
      debt expense
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              424
              
              
              
              424Net
      loss
              
              $
              (312,070
              )
              
              $
              (8,017
              )
              
              $
              (321,142
              )
              
              $
              (15,272
              )
              
              $
              (470,381
              )Basic
      and dilutedNet Loss per Share
              
              $
              0.00
              
              
              $
              0.00
              
              
              $
              0.00
              
              
              $
              0.00Weighted
      average common
              
              
              65,501,876
              
              
              
              63,048,273
              
              
              
              68,629,112
              
              
              
              62,864,549shares
      outstanding





See Notes
to Consolidated Financial Statements




4


WRITERS'
GROUP FILM CORP.


[a
development stage company]
 CONSOLIDATED
STATEMENTS OF CASH FLOWS
 (Unaudited)


Six
      Months Ended
              
              
              Six
      Months Ended
              
              
              March
      9, 2007 (inception) throughSeptember
      30, 2009
              
              
              September
      30, 2008
              
              
              September
      30, 2009CASH
      FLOWS FROM OPERATING ACTIVITIESNet
      loss
              
              $
              (321,142
              )
              
              $
              (15,272
              )
              
              $
              (470,381
              )Adjustments
      to reconcile net
      loss to cash used in
      operating activities:Stock
      issued for services
              
              
              210,000
              
              
              
              1,720
              
              
              
              294,498Change
      in fair value of derivative liabilities
              
              
              86,080
              
              
              
              -
              
              
              
              86,080Changes
      in:Accounts
      payable
              
              
              (857
              )
              
              
              3,252
              
              
              
              4,030Accounts
      receivable
              
              
              -
              
              
              
              424
              
              
              
              -NET
      CASH USED IN OPERATING ACTIVITIES
              
              
              (25,919
              )
              
              
              (9,876
              )
              
              
              (85,773
              )CASH
      FLOWS FROM FINANCING ACTIVITIESCapital
      contributions
              
              
              12,900
              
              
              
              4,000
              
              
              
              22,200Subscription
      receivables
              
              
              -
              
              
              
              9,300
              
              
              
              13,500Proceeds
      from notes
              
              
              22,000
              
              
              
              -
              
              
              
              22,000Stock
      issued for cash
              
              
              -
              
              
              
              5,300
              
              
              
              38,250NET
      CASH PROVIDED BY FINANCING ACTIVITIES
              
              
              34,900
              
              
              
              18,600
              
              
              
              95,950NET
      CHANGE IN CASH
              
              
              8,981
              
              
              
              8,724
              
              
              
              10,177Cash
      balance, beginning
              
              
              1,136
              
              
              
              1,136
              
              
              
              -Cash
      balance, ending
              
              $
              10,117
              
              
              $
              9,860
              
              
              $
              10,177CASH
      PAID FOR:Interest
              
              
              -
              
              
              
              -
              
              
              
              -Income
      taxes
              
              
              -
              
              
              
              -
              
              
              
              -Noncash
      investing and financing activitiesDiscount on convertible notes
      payable
              
              $
              12,000
              
              
              $
              -
              
              
              $
              12,000Discount
      on convertible note payable - related party
              
              $
              10,000
              
              
              $
              -
              
              
              $
              10,000


5





WRITERS'
GROUP FILM CORP.
 [a
development stage company]
 STATEMENT
OF CHANGES IN STOCKHOLDERS' EQUITY
 (Unaudited)




Common
      Stockpar
      value $.001Shares
              
              
              Amount
              
              
              Paid
      in Capital
              
              
              Deficit
              
              
              TotalCommon
      shares issued forservices
              
              
              56,550,000
              
              
              $
              56,550
              
              
              
              
              
              
              
              
              
              
              $
              56,550Shares
      issued for cash
              
              
              2,050,000
              
              
              
              2,050
              
              
              $
              18,450
              
              
              
              
              
              
              
              20,500Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (60,737
              )
              
              
              (60,737
              )Balance,
      March 31, 2007
              
              
              58,600,000
              
              
              
              58,600
              
              
              
              18,450
              
              
              
              (60,737
              )
              
              
              16,313Common
      shares issued forservices
              
              
              2,647,822
              
              
              $
              2,648
              
              
              
              23,830
              
              
              
              
              
              
              $
              26,478Shares
      issued for cash
              
              
              1,435,000
              
              
              
              1,435
              
              
              
              12,915
              
              
              
              
              
              
              
              14,350Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (56,141
              )
              
              
              (56,141
              )Balance,
      March 31, 2008
              
              
              62,682,822
              
              
              
              62,683
              
              
              
              55,195
              
              
              
              (116,878
              )
              
              
              1,000Common
      shares issued forservices
              
              
              147,000
              
              
              $
              147
              
              
              
              1,323
              
              
              
              
              
              
              $
              1,470Shares
      issued for cash
              
              
              1,690,000
              
              
              
              1,690
              
              
              
              15,210
              
              
              
              
              
              
              
              16,900Contributed
      capital
              
              
              
              
              
              
              
              
              
              
              9,300
              
              
              
              
              
              
              
              9,300Net
      loss
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              (32,421
              )
              
              
              (32,421
              )Balance,
      March 31, 2009
              
              
              64,519,822
              
              
              
              64,520
              
              
              
              81,028
              
              
              
              (149,299
              )
              
              
              (3,751
              )Contributed
      capital
              
              
              
              
              
              
              
              
              
              
              12,900
              
              
              
              
              
              
              
              12,900Issuance
      of stock
              
              
              20,000,000
              
              
              
              20,000
              
              
              
              180,000
              
              
              
              -
              
              
              
              200,000Discount
      on Convertible notes
              
              
              
              
              
              
              
              
              
              
              22,000
              
              
              
              
              
              
              
              22,000Net
      income for the period
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              (321,142
              )
              
              
              (321,142
              )Balance,
      September 30, 2009
              
              
              84,519,822
              
              
              $
              84,520
              
              
              
              295,928
              
              
              $
              (470,441
              )
              
              $
              (89,993
              )


See
Summary Notes to Consolidated Financial Statements
  6





WRITERS’
GROUP FILM CORP.


NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS








NOTE 1.
BASIS OF PRESENTATION





The
accompanying unaudited interim financial statements of Writers’ Group Film
Corp., have been prepared in accordance with accounting principles generally
accepted in the United States of America and the rules of the Securities and
Exchange Commission, and should be read in conjunction with the audited
financial statements and notes thereto contained in Writers’ Group's annual
report filed with the SEC on Form 10-K on July 10, 2009. In the opinion of
management, all adjustments, consisting of normal recurring adjustments,
necessary for a fair presentation of financial position and the results of
operations for the interim periods presented have been reflected herein. The
results of operations for interim periods are not necessarily indicative of the
results to be expected for the full year. Notes to the financial statements
which would substantially duplicate the disclosure contained in the audited
financial statements for fiscal 2009 as reported in the Form 10-K have been
omitted.




Accounting Policies




Convertible
Debt





Writers
Group Film Corp  has issued convertible instruments, which contained
embedded conversion features. The Company has evaluated the application of ASC
815-15, “Accounting for
Derivative Instruments and Hedging Activities,” and ASC 815-40, “Accounting for Derivative Financial
Instruments Indexed to and Potentially Settled in a Company’s Own Stock,”to its embedded conversion feature within its convertible debt
instruments. Writers Group has determined that, for some of the instruments, the
conversion feature did not meet the definition of a liability and therefore did
not bifurcate the conversion feature and account for it as a separate derivative
liability. However, for other convertible instruments, it was determined that
the conversion feature did, in fact, meet the definition of a liability and
therefore the conversion feature was bifurcated and accounted for as a separate
derivative liability as discussed more below.





The
Company evaluated the conversion feature under ASC 815-40 for a beneficial
conversion feature at inception. The effective conversion price was then
computed based on the allocation of the proceeds to the convertible debt to
determine if a beneficial conversion feature exists. The effective conversion
price was compared to the market price on the date of the original note and was
deemed to be less than the market value of Writers Group Film Corp’s stock at
the inception of the note. A beneficial conversion feature was recognized and
gave rise to a debt discount that is amortized over the stated maturity of the
convertible debt instrument or the earliest potential conversion
date.





Derivative
instruments





We
account for obligations and instruments potentially to be settled in the Company
s stock in accordance with ASC 815-40, “Accounting for Derivative Financial
Instruments Indexed To, and Potentially Settled In a Company’s Own Stock”
.. This issue addresses the initial balance sheet classification and measurement
of contracts that are indexed to, and potentially settled in, the Company's own
stock. These derivative liabilities are marked-to-market each quarter with the
change in fair value recorded in the income statement.





Writers
Group utilizes the Black-Scholes option-pricing model to determine the fair
value of its derivative instruments. Key assumptions of the Black-Scholes
option-pricing model include applicable volatility rates,





7





risk-free
interest rates and the instruments expected remaining life.  The
assumptions used in this model require significant management judgment and
estimates of future fluctuation in


stock
price as well as changes in future interest rates. The reader should reference
Note 5 for further details in regards to our derivative
liabilities.




Fair
Value Measurements





ASC
820-35 establishes a framework for measuring fair value in GAAP and clarifies
the definition of fair value within that framework. ASC 820-35 does not require
assets and liabilities that were previously recorded at cost to be recorded at
fair value or for assets and liabilities that are already required to be
disclosed at fair value, ASC 820-35 introduced, or reiterated, a number of key
concepts which form the foundation of the fair value measurement approach to be
used for financial reporting purposes. The fair value of the Company’s financial
instruments reflects the amounts that the Company estimates to receive in
connection with the sale of an asset or paid in connection with the transfer of
a liability in an orderly transaction between market participants at the
measurement date (exit price). ASC 820-35 also establishes a fair value
hierarchy that prioritizes the use of inputs used in valuation techniques into
the following three levels:





Level
1—quoted prices in active markets for identical assets and
liabilities.


Level
2—observable inputs other than quoted prices in active markets for identical
assets and liabilities.


Level
3—unobservable inputs.





The
adoption of ASC 820-35 did not have an effect on the Company’s financial
condition or results of operations, but ASC 820-35 introduced new disclosures
about how we value certain assets and liabilities. Much of the disclosure is
focused on the inputs used to measure fair value, particularly in instances
where the measurement uses significant unobservable (Level 3)
inputs.





As
required by ASC 820-35, financial assets and liabilities are classified based on
the lowest level of input that is significant to the fair value measurement. Our
assessment of the significance of a particular input to the fair value
measurement requires judgment and may affect the valuation of the fair value of
assets and liabilities and their placement within the fair value hierarchy
levels. Following are the major categories of assets and liabilities measured at
fair value on a recurring basis as of September 30, 2009, using quoted prices in
active markets for identical assets (Level 1); significant other observable
inputs (Level 2); and significant unobservable inputs (Level 3):





Fair
      Value Measurements at September 30, 2009 UsingLevel 1
            
            
            Level 2
            
            
            Level 3
            
            
            TotalAssets
      (Liabilities):Derivative
      liabilities
            
            $
            -
            
            
            $
            (96,080
            )
            
            $
            -
            
            
            $
            (96,080
            )




Recent Accounting
Pronouncement




In 2009,
the FASB issued the following guidance.




FASB ASC
825-10-65-1:”Interim
Disclosures about Fair Value of Financial Instruments”. See the
accounting policy above.




Effective
for the quarter ended June 30, 2009, the Company implemented ASC 855 , Subsequent Events . This
standard establishes general standards of accounting for and disclosure of
events that occur after the balance sheet date but before financial statements
are issued. The adoption of ASC 855 did not impact the Company’s financial
position or results of operations. The Company evaluated all events or
transactions that occurred after September 30, 2009 up through November 10,
2009, the date the Company issued these financial statements.  During this
period, the Company had no subsequent events.




In July
2009, the FASB issued new guidance relating to the “FASB Accounting Standards
Codification” at ASC 105, as the single source of authoritative
nongovernmental U.S. generally accepted accounting





8




principles
(GAAP). The Codification is effective for interim and annual periods ending
after September 15, 2009. All existing accounting standards
are superseded as described in ASC 105. All other accounting literature not
included in the Codification is nonauthoritative. Management is currently
evaluating the impact of the adoption of ASC 105 but does not expect the
adoption of ASC 105 to impact the Company’s results of operations, financial
position or cash flows.





NOTE 2.
GOING CONCERN





Writers’
Group has generated nominal revenues since inception and is unlikely to generate
earnings in the immediate or foreseeable future. The continuation of Writers’
Group as a going concern is dependent upon the continued financial support from
its shareholders, the ability of Writers’ Group to obtain necessary equity
financing to continue operations, and the attainment of profitable operations.
As of September 30, 2009, Writers’ Group has accumulated losses. These factors
raise substantial doubt regarding Writers’ Group's ability to continue as a
going concern. These financial statements do not include any adjustments to the
recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should Writers’ Group be unable to
continue as a going concern.





NOTE 3.
EQUITY





During
the six months ended September 30, 2009, the President and Chairman of Writers’
Group Tal L. Kapelner gave the company $12, 900. These funds were used for
operating expenses. The amount is reflected as contributed capital.





On
September 11, 2009, 12,000,000 shares were issued to our President and Chairman,
Tal L. Kapelner, in exchange for $120,000 worth of management services rendered.
In addition, 8,000,000 shares, valued at $80,000, were issued to Artfield
Investments RD, Inc. in partial satisfaction for consulting
services.





NOTE 4.
CONVERTIBLE DEBT





Notes
payable at September 30, 2009 are comprised of the following:





Notes
      I
            
            Convertible
      notes payable, interest rate at 8%, due on August, 2010, convertible at
      $.001 into an aggregate of 12,000,000 common shares
            
            12,000Notes
      II
            
            Convertible
      note payable, interest rate at 8%, due September, 2010, convertible at
      $.001 per share or 1⁄2 the average closing bid price for the last five
      trading days prior to conversion
            
            10,000Notes
      III
            
            Convertible
      notes payable to related party, interest rate at 8%, due August, 2010,
      convertible at $.001 into 10,000,000 common shares
            
            10,00032,000Less:
      unamortized debt discount
            
            (32,000)-





Writers
Group evaluated the application of ASC 815-15 and ASC 815-40 for Notes I and
Notes III listed above and concluded these instruments were not required to be
accounted for as derivatives. Writers Group also evaluated the application of
ASC 470-30 & ASC 470-05, "Accounting for Convertible Securities with
Beneficial Conversion Features or Contingently Adjustable Conversion Ratios,"
and  ASC 470-30 & ASC 470-05, " ASC 470-30 & ASC 470-05 to
Certain Convertible Instruments" and concluded that the conversion option was a
beneficial conversion feature with intrinsic value. Writers Group determined the
intrinsic value of the conversion options on these notes to be $22,000 and
recorded a discount on the notes in this amount. The discount will be amortized
over the life of the loans using the effective interest rate
method.




9




See Note
5 for further information regarding the evaluation of Notes II listed
above.





Notes II
was issued for services, not cash.





NOTE 5 -
DERIVATIVE LIABILITIES





Writers
Group Notes II listed above pursuant to ASC 815-40, “Accounting for Derivative
Financial Instruments Indexed to, and Potentially Settled in, a Company's Own
Stock.” This analysis resulted in a bifurcation of the conversion feature from
the debt and requires accounting for the conversion feature as a derivative
contract liability with changes in fair value recorded in the Statements of
Operations.





Pursuant
to ASC 815-15, “Accounting for Derivative Instruments and Hedging Activities,”
ASC 815-40, “Accounting for Derivative Financial Instruments Indexed to, and
Potentially Settled in, a Company’s Own Stock,” ASC 470-30 & ASC 470-05
“Application of ASC 470-30 & ASC 470-05 to Certain Convertible Instruments,”
ASC 470-30 & ASC 470-05 “Accounting for Convertible Securities with
Beneficial Conversion Features or Contingently Adjustable Conversion Ratios,”
the original fair value of the embedded conversion feature in the Notes II of
$96,080 was recorded as a derivative liability. The fair value of the embedded
derivative at issuance exceeded the notional amount of the loan. $10,000 of the
fair value was recorded as a discount on the loan and the additional $86,080 was
expensed on the issuance date.





The fair
value of the derivative liability was determined using the Black-Scholes option
pricing model. The inputs for the valuation analysis of the convertible note
include the market value of the Company's common stock, the estimated volatility
of the Company's common stock, the exercise price of the note payable and the
risk free interest rate. The key inputs for the valuation analysis were a
volatility of 281%, common stock value of $0.01 and a risk free interest rate of
5.4%.   The liability was marked to market as of September 30,
2009 using the following key inputs volatility of 281%, common stock value of
$0.01 and a risk free interest rate of .41%: These current inputs resulted in no
change to the value of the derivative.




10





Management's
Discussion and Analysis of Financial Condition and Results of
Operations.





Overview.





The
recent market downturn has negatively impacted the entertainment industry and
this company in particular. Right now, we are pinning our hopes for revenue on
the production and success of “Writers’ Assistants”, but the third-party
financier who verbally agreed to put up the $150,000 incentive money we needed
to attract a well-known actor has pulled his commitment in the last few months,
citing the poor economic climate, leaving us to raise that money through other
third-party financiers – who have not materialized yet – and/or future private
placements or registered offerings. Further, even if we raised $150,000 and
attracted a star actor, film financing companies are tightening their belts and
are financing fewer films, even those that may be quite viable with a well-known
actor attached, leaving us few options in financing the film.





We are
looking more seriously now into the possibilities provided by web-based
entertainment as a source of future growth, perhaps even as a revenue source.
Historically, we have not been of the opinion that web-based entertainment
provides much opportunity for anything but use as a marketing vehicle for our
talents as filmmakers and as a way to positively brand the company as a whole.
However, two web-based serials – “Quarter life” and, very
recently,  “In the Motherhood” – have been picked up as programs for
broadcast television, and several more – out of admittedly thousands – have
managed to earn small profits, including “Paradise Cove”, “Easy to Assemble”,
“Web Therapy” and “Tiki Bar”, mostly through sponsorships and merchandise sales.
The benefits to producing a web-based serial is that it is significantly
cheaper, requiring far less start-up capital, and would get the company at least
in production on something, rather than just working on administration and
raising capital.





The
concept of a business model based at least in part on web-based programming
presents many challenges for us, however. The first challenge would be raising
money: web-based programming may be cheaper than producing feature films, but it
still requires some capital – see the estimates under our “Web Strategy”
subsection below – and so far, we have not been successful in raising sufficient
capital for production of any kind. Another challenge would be securing
sponsorships. Because of our relatively unknown status, it would take
significant recognition by the public of any web-based program we produced first, before we could hope
to successfully sign sponsorship deals with advertisers. Further, sponsors we
approach may already be sponsoring a competing web content provider, or not
approve of the content we produce. The inexperience of our management working
with this medium is another factor in our consideration of this venture,
particularly as it relates to strategies to generate web traffic to the content.
Just posting such content on our website and a few video-sharing sites like
YouTube is not likely to generate the millions of “views” we would likely need
to have a successful business model. Therefore, more advanced strategies are
necessary, including the use of more sophisticated web promotional tools such as
Tube Mogul and Virtual Property – see our “Web Strategy” subsection below.
Additional challenges, currently unknown to us, may also present themselves once
we have conducted a more thorough study of web programming and its related
business models over the next several months.





Financial
Condition.





The
amount of cash we currently have on hand, as of September 30, 2009, is $10,117,
and the amount of working capital deficit we have as of September 30, 2009 is
$89,993. The amount of cash we will need to operate our business over the next
12 months is estimated at $19,200. Therefore, the amount of cash we have on hand
is insufficient to satisfy our cash requirements. We received contributed
capital from our President Tal Kapelner, in the amount of





11





$9,300
during the fiscal year ended March 31, 2009 and an additional $12,900 during the
six months ended September 30, 2009. In addition, we borrowed $10,000 in cash
from Mr. Kapelner and $12,000 in cash from five other individuals, all of whom
received convertible notes, as we describe in the Notes to our financial
statements. Without an infusion of cash from additional revenues or future
registered offerings or private placements, management will likely have to
continue to contribute money to pay our expenses.





We also
generated our first revenues in fiscal year 2009. In November, 2008, we signed a
services contract with Car Search Consulting, Inc. of Los Angeles, California,
wherein we were contracted to produce a 35-second commercial advertisement as
well as a 5-10 minute internal employee training video. We were paid $8,425 up
front for those services, which we completed in January 2009.





Also in
November of 2008, we optioned the screenplay for Forever Man to Cruck
Productions, Inc. a Florida-based production company, for $1,000.





Despite
these early revenues, we do not anticipate these or future revenues to produce a
profit for the foreseeable future; we have subsisted so far by capital
contributions from our management and by selling shares through our three
private offerings and our public offering, which raised for us a total of
$51,750 in cash and $284,498 worth of services, including initial website design
and consulting services.





Liquidity and Capital
Resources.





We have
plans to issue shares under an equity line of credit in the next 12 months.
However, no equity line agreement has been registered with the U.S. Securities
and Exchange Commission yet.





Plan for the next 12
months.





In Fiscal
Year 2010, which began April 1, 2009, we plan to produce our film “Writers’
Assistants” and finish developing a web strategy which may include producing a
web-based serial (“webisodic programming”) and/or producing short vignettes and
skits for use solely as a marketing and branding tool.





Writers’
Assistants





The major
challenge in producing Writers’ Assistants is the financing. Our timetable,
then, in producing Writers’ Assistants is:





·
            September
      - December, 2009: Raise $150,000 through private and public stock
      offerings.


·
            January
      - March, 2010: Identify, approach, negotiate and sign an agreement with a
      well-known actor to have him or her appear in the
  film.


·
            March
      – June, 2010: Identify studios, distributors, large production companies
      and other financiers who may finance the remainder of the film’s budget,
      submit applications and secure
financing.


·
            June
      - September, 2010: Complete development and pre-production on the
      film.





Web
Strategy





Our web
strategy will focus on answering the following questions: Is it possible to make
a profit from content produced specifically for, and distributed on, the web? If
so, how significant a profit is possible, or has been historically achieved?
Besides sponsorships from advertisers and merchandise sales, what are the other
keys to profiting from web-based content? What type and genre of programming has
had the most success, and how has the content been organized and
distributed?




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We hope
to answer those questions through a) our own market research consisting of
attendance at seminars and related symposia on the topic, study of web news
journals such as “TubeFilter”, study of revenue-sharing and licensing deals
currently being made, and interviews with consultants who have an expertise in
web-based programming; as well as b) market research data we compile provided by
web programming monetization sites such as TubeMogul, Visible Measures and
Brightcove. “Rich analytics”, which refers to the breakdown and analysis of any
given website’s popularity, is provided by these web programming monetization
sites for no fee or a small fee.





Once we
have answered those questions, we will develop a comprehensive web strategy
that, depending on the answers we get from our questions, will either focus on
developing the type of content that will seek to make a profit, but is generally
more expensive and time-consuming to produce and distribute, or the type of
content that is geared only towards our marketing and branding efforts, which
would likely be cheaper and easier to produce and simpler to
distribute.





In other
words, if our web strategy calls for us to produce content for profit on the
web, the type of content will necessarily be of a higher quality, both in terms
of appeal and in the quality of the various production elements, such as camera,
lighting, etc.





For
example, we have already identified two possible candidates for development into
webisodic programming. The first is to re-work our first short film, “Buckeye
Marhaba” – a drama about an Arab couple living in the U.S. who attempt to
balance assimilation with retention of their cultural identity through the
following of the Ohio State Buckeye football team – which was slated for
production but is now languishing with no immediate prospect for production,
into a web-based serial of perhaps 10 “webisode” installments of approximately 3
minutes each.





The
second is a new comedy concept we developed, entitled “Flagged”, about the
people who work at a fledgling crisis management agency for professional
athletes. This could be organized as close to a television sitcom as possible,
with each “webisode” made up of three “acts” of 7 minutes each, much the same
way a typical television sitcom is broken up. We could produce a “season” of
8-13 webisodes, mirroring the number of episodes typically ordered per season
for a basic cable television program. We may even market a pilot script for
television.





While we
have done no market research yet, anecdotally we understand that
professionally-produced webisodes can cost about $1,000 per minute, which would
make Buckeye Marhaba a $30,000 project and Flagged a $56,000 - $91,000 project.
This cost estimate was provided verbally by a consensus of web programming
producers at a Screen Actors Guild symposium on producing content for the web
held in Los Angeles in February of 2009. This is significantly cheaper than
financing a feature film, but would still present challenges in financing.
Distribution would be through more complex and professional sites that are
geared towards monetization of web content, such as TubeMogul, Virtual Property
and Dogma Studios.





On the
other hand, if our web-based strategy calls for us to produce simple video
vignettes and sketches, solely for marketing and branding purposes and without
attention on profiting from the content itself, we would look to produce those
products more cheaply and distribute them more simply, such as through our own
website, and video-sharing websites such as YouTube, Veoh and
FunnyorDie.com.





Two
examples of these sketches are “A&F”, in which an overweight man takes off
his shirt and pretends to be one of the live male models at an Abercrombie and
Fitch store, and “Stalk Another Day”, about a lazy celebrity
stalker.





Our
timetable for our web strategy is:




13




·
            September
      - December, 2009: Conduct market research on cost and on answering the
      questions identified above. Develop comprehensive web
      strategy.


·
            January
      - February, 2010: Develop ideas and scripts for either a) for-profit web
      content; or b) sketches and vignettes for marketing purposes
      only.


·
            February
      – April, 2010: Raise financing through registered offerings or private
      placements. If we are financing for-profit web content, financing needs
      may be anywhere from $30,000 to almost $100,000, as noted above. Since
      inception, we have not successfully raised $100,000 in cash, and at this
      time have no special ideas to raise the necessary funds, other than
      approaching venture capitalists and other private equity firms who invest
      in entertainment projects. While subject to the results of our web
      strategies research, we do not intend at this time to offer any profit
      participation or other significant financial incentives to entice
      well-known actors or directors to participate in these productions,
      although we may nevertheless approach well-known actors, directors, or in
      the case of our proposed “Flagged” production, professional sports
      figures, to participate in our web-based projects without significant
      financial incentives.


·
            April
      - June, 2010: Produce either for-profit web content or the video sketches
      and vignettes for marketing purposes
only.


·
            June
      - August, 2010: Distribute the material that we
  produced.




We have
no purchases or sales of plant or significant equipment planned in the next 12
months.





We do not
anticipate any significant changes in the number of employees. We currently have
zero and anticipate having zero employees in the next 12 months.




Controls
and Procedures.





Our
principal executive and financial officers have evaluated the effectiveness of
our disclosure controls and procedures as of the end of our second quarter
(September 30, 2009) for fiscal year 2010, and have concluded that they are not
effective to ensure that information required to be disclosed in the reports
that we file pursuant to Section 15(d) of the Exchange Act is recorded,
processed, summarized and reported within the time periods specified in the
rules under the Exchange Act. We based the material weakness noted below in our
assessment of our internal control over financial reporting.





A
material weakness is a deficiency, or combination of deficiencies, in internal
control over financial reporting, such that there is a reasonable possibility
that a material misstatement of the Company's annual or interim financial
statements will not be prevented or detected on a timely basis. In its
assessment of the effectiveness of internal control over financial reporting as
of September 30, 2009, the Company determined that we had a material weakness,
as described below and therefore our internal controls over financial reporting
were not effective.





We noted
we have a material weakness regarding proper segregation of duties for the
preparation of our financial statements. As of September 30, 2009, the majority
of the preparation of financial statements was carried out by one person, who is
an independent CPA to the Company. Additionally, the Company currently only has
one officer/director having oversight on all transactions.  We plan to
remedy the material weakness once operations expand to include employees, and/or
the production of self-generated and owned entertainment products.




14




There
have been no changes in our internal control over financial reporting during the
first quarter of our current fiscal year 2010 that has materially affected, or
is reasonably likely to materially affect, our internal control over financial
reporting.




Legal
Proceedings.





We are
not a party to any pending legal proceeding, nor are we aware of any proceeding
contemplated by any governmental authority.




Exhibits.





Financial
statements are included in the body of this report.





Exhibit
Index:




*
            Certificate of
      Incorporation
            [incorporated by
      reference to Form 10-K filed on July 10, 2009]*
            Certificate of
      Amendment of Certificate of Incorporation
            [incorporated by
      reference to Form S-1 filed on January 21, 2009]*
            By-laws
            [incorporated by
      reference to Form 10-K filed on July 10, 2009]*
            Instruments defining
      rights of security holders
            [see
    By-laws]*
            Rule 15d-14(a)
      Certifications
            Exhibit
      (31)(i)*
            Section 1350
      Certification
            Exhibit
    (32)




15





Signatures.





Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.





WRITERS’
GROUP FILM CORP.










By:November 10,
      2009
              
              Tal L. Kapelner,
      President and Chairman
  By:
              /s/ Ariella
      KapelnerNovember 10,
      2009
              
              Ariella Kapelner,
      Principal Financial Officer and Director








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