----

----

| þ                                        | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  |
|-----------------------------------------------|------------------------------------------------------------------------------------------|
|                                          |                                                                                     |
| For the quarterly period ended March 31, 2011 |
|                                          |                                                                                     |
| OR                                            |
|                                          |                                                                                     |
| o                                             | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|                                          |                                                                                     |
|                                          | For the transition period from ________________ to ________________                      |

| OPTIONS MEDIA GROUP HOLDINGS, INC.                     |
|--------------------------------------------------------|
| (Exact name of registrant as specified in its charter) |

| Nevada                                                                                       |   | 26-0444290                                     |
|----------------------------------------------------------------------------------------------|--------|------------------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |

| 123 NW 13th Street, Ste. 300 Boca, Raton, FL                 |   | 33432           |
|--------------------------------------------------------------|--------|-----------------|
| (Address of principal executive offices) |   | (Zip Code) |

| Large accelerated filer                       | o      | Accelerated filer    | o      |
|-----------------------------------------------|--------|---------------------------|--------|
| Non-accelerated filer                    | o      |                      |   |
| (Do not check if a smaller reporting company) |   | Smaller reporting company | þ |

| Class                                    |   | Outstanding at May 23, 2011 |
|------------------------------------------|--------|-----------------------------|
| Common Stock, $0.001 par value per share |   | 456,409,163 shares     |

----

----

----

|                                 |                                                                                                            |   | PAGE   |   |
|--------------------------------------|-----------------------------------------------------------------------------------------------------------------|--------|--------|--------|
| PART I – FINANCIAL INFORMATION |                                                                                                            |
|                                 |                                                                                                            |   |   |   |
| Item 1.                         | Financial Statements                                                                                            |   |   | 1      |   |
|                                 | Consolidated Balance Sheets at  March 31, 2011 (Unaudited) and December 31, 2010                 |   |   | 1      |   |
|                                 | Consolidated Statements of Operations for the Three Months Ended March 31, 2011 and 2010  (Unaudited) |   |   | 2      |   |
|                                 | Consolidated Statements of Cash Flows for the Three Months Ended  March 31, 2011 and 2010 (Unaudited)      |   |   | 3      |   |
|                                 | Notes to Unaudited Consolidated Financial Statements (Unaudited)                                           |   |   | 4      |   |
| Item 2.                              | Management’s Discussion and Analysis of Financial Condition and Results of Operations                     |   |   | 13     |   |
| Item 3.                              | Quantitative and Qualitative Disclosures about Market Risk                                                 |   |   | 16     |   |
| Item 4.                    | Controls and Procedures                                                                                         |   |   | 17     |   |
|                                 |                                                                                                            |   |   |   |   |
| PART II – OTHER INFORMATION    |                                                                                                            |
|                                 |                                                                                                            |   |   |   |   |
| Item 1.                              | Legal Proceedings                                                                                               |   |   | 17     |   |
| Item 1A                              | Risk Factors                                                                                                    |   |   | 17     |   |
| Item 2.                              | Unregistered Sales of Equity Securities and Use of Proceeds                                                     |   |   | 17     |   |
| Item 3.                              | Defaults Upon Senior Securities                                                                            |   |   | 17     |   |
| Item 4.                    | (Removed and Reserved)                                                                                     |   |   | 18     |   |
| Item 5.                    | Other Information                                                                                               |   |   | 18     |   |
| Item 6.                    | Exhibits                                                                                                   |   |   | 18     |   |
| Signature                            |                                                                                                            |   |   | 19     |   |

----

|                                                                                                                                                                     |   | March 31, 2011 |                                                                                                                                                                          |          | December 31, 2010 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|-------------------|--------|
|                                                                                                                                                                     |   | (Unaudited)    |                                                                                                                                                                          |          |              |   |
| ASSETS                                                                                                                                                                   |   |
| Current Assets:                                                                                                                                                          |   |           |                                                                                                                                                                          |          |              |   |
| Cash                                                                                                                                                                     |   | $              | 17,915                                                                                                                                                                        |          |              | $      | 35,756 |   |
| Accounts receivable, net                                                                                                                                                 |   |           | 98,071                                                                                                                                                                        |          |              |   | 392,025 |   |
| Prepaid expenses                                                                                                                                                         |   |           | 168,868                                                                                                                                                                       |          |              |   | 204,045 |   |
| Other current assets                                                                                                                                                     |   |           | 20,076                                                                                                                                                                        |          |              |   | 9,632 |   |
| Total Current Assets                                                                                                                                                     |   |           | 304,930                                                                                                                                                                       |          |              |   | 641,458 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Property and equipment, net                                                                                                                                              |   |           | 69,172                                                                                                                                                                        |          |              |   | 79,351 |   |
| Software, net                                                                                                                                                            |   |           | 2,135,477                                                                                                                                                                     |          |              |   | 2,271,065 |   |
| Intangible Assets                                                                                                                                                        |   |           | 20,000                                                                                                                                                                        |          |              |   | 20,000 |   |
| Other assets                                                                                                                                                             |   |           | 36,422                                                                                                                                                                        |          |              |   | 36,422 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Total non-current assets                                                                                                                                                 |   |           | 2,261,071                                                                                                                                                                     |          |              |   | 2,406,838 |   |
|  Assets of discontinued operations held for sale                                                                                                                    |   |           | --                                                                                                                                                                       |          |              |   | 80,893  |   |
| Total Assets                                                                                                                                                             |   | $              | 2,566,001                                                                                                                                                                     |          |              | $      | 3,129,189 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                     |   |
| Current Liabilities:                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Bank Overdraft                                                                                                                                                           |   | $              |                             1,063 |          |              | $      | -- |   |
| Accounts payable                                                                                                                                                         |   |           | 641,706                                                                                                                                                                       |          |              |   | 629,123 |   |
| Accounts payable, due to related parties                                                                                                                                 |   |           | 68,405                                                                                                                                                                        |          |              |   | 30,498 |   |
| Accrued expenses                                                                                                                                                         |   |           | 380,738                                                                                                                                                                       |          |              |   | 396,468 |   |
| Deferred revenue                                                                                                                                                         |   |           | 39,046                                                                                                                                                                        |          |              |   | 15,073 |   |
| Notes payable, net of debt discount                                                                                                                                      |   |           | 105,677                                                                                                                                                                       |          |              |   | -- |   |
| Other current liabilities                                                                                                                                                |   |           | 85,466                                                                                                                                                                        |          |              |   | 94,453 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Total Current Liabilities                                                                                                                                                |   |           | 1,322,101                                                                                                                                                                     |          |              |   | 1,165,615 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Total liabilities                                                                                                                                                        |   | $              | 1,322,101                                                                                                                                                                     |          |              | $      | 1,165,165 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Commitments and contingencies (Note 8)                                                                                                                                   |   |           |                                                                                                                                                                          |          |              |   |   |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Stockholders' Equity:                                                                                                                                                    |   |           |                                                                                                                                                                          |          |              |   |   |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value, 10,000,000 shares authorized                                                                                                          |   |           |                                                                                                                                                                          |          |              |   |   |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value Series A, none issued and outstanding at March 31, 2011 and December 31, 2010, respectively                                            |   | $              |                             -     |          |              | $      | - |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value Series B, none issued and outstanding  at March 31, 2011  and December 31, 2010, respectively                      |   |           |                             -     |          |              |   | - |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value, Series C, none  issued and outstanding at March 31, 2011 and December 31, 2010, respectively                                     |   |           |                             -     |          |              |   | - |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value, Series D, 1,144,599 and 1,856,797 issued and outstanding at March 31, 2011 and December 31, 2010, respectively                   |   |           | 1,144                                                                                                                                                                         |          |              |   | 1,857 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value, Series E, none  issued and outstanding at March 31, 2011 and December 31, 2010, respectively                                     |   |           |                             -     |          |              |   | - |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value, Series F, none  issued and outstanding at March 31, 2011 and December 31, 2010, respectively                                     |   |           |                             -     |          |              |   | - |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Preferred stock; $0.001 par value, Series G, none  issued and outstanding at March 31, 2011 and December 31, 2010, respectively                                     |   |           |                             -     |          |              |   | - |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Common stock; $0.001 par value, 700,000,000 shares authorized, 435,145,721 and 414,388,121 issued and outstanding, at March 31, 2011 and December 31, 2010, respectively |   |           | 435,146                                                                                                                                                                       |          |              |   | 414,389 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Additional paid-in capital                                                                                                                                               |   |           | 24,397,622                                                                                                                                                                    |          |              |   | 24,291,660 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Accumulated Deficit                                                                                                                                                      |   |           |            (23,590,012                                                                                                 | )   |         |   |              (22,744,332 | )  |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Total Stockholders' Equity                                                                                                                                               |   |           | 1,243,900                                                                                                                                                                     |          |              |   | 1,963,574 |   |
|                                                                                                                                                                     |   |           |                                                                                                                                                                          |          |              |   |   |   |
| Total Liabilities and Stockholders' Equity                                                                                                                               |   | $              | 2,566,001                                                                                                                                                                     |          |              | $      | 3,129,189 |   |

----

|                                                                              |   | For the Three Months Ended |                                                                                        |
|----------------------------------------------------------------------------------------|--------|----------------------------|---------------------------------------------------------------------------------------------|
|                                                                                   |   | March 31,                  |                                                                                        |
|                                                                              |   | 2011                       |                                                                                        |   | 2010 |   |
|                                                                              |   |                       |                                                                                        |   |   |   |
| Net revenues                                                                           |   | $                          | 324,760                                                                                     |   |   | $ | 126,296 |   |
| Cost of revenues                                                                       |   |                       | 187,816                                                                                     |   |   |   | 109,937 |   |
|                                                                              |   |                       |                                                                                        |   |   |   |   |   |
|   Gross profit                                                               |   |                       | 136,944                                                                                     |   |   |   | 16,359 |   |
|                                                                              |   |                       |                                                                                        |   |   |   |   |   |
| Operating expenses:                                                                    |   |                       |                                                                                        |   |   |   |   |   |
|     Compensation and related cost                                  |   |                       | 355,927                                                                                     |   |   |   | 402,901 |   |
|     Commissions                                                    |   |                       | 24,875                                                                                      |   |   |   | 37,889 |   |
|     Advertising                                                    |   |                       | 113,061                                                                                     |   |   |   | -- |   |
|     Rent                                                           |   |                       | 49,290                                                                                      |   |   |   | 54,927 |   |
|     Other general and administrative                               |   |                       | 465,236                                                                                     |   |   |   | 264,771 |   |
|                                                                              |   |                       |                                                                                        |   |   |   |   |   |
|     Total operating expenses                                       |   |                       | 1,008,389                                                                                   |   |   |   | 760,488 |   |
|                                                                              |   |                       |                                                                                        |   |   |   |   |   |
| Loss from continuing operations                                                        |   |                       | (871,445                                                                                    | )  |   |   |       (744,129 | )  |
| Other income (expense):                                                                |   |                       |                                                                                        |   |   |   |   |   |
|   Settlement gain                                                            |   |                       | -                                                                                           |   |   |   | 96,553 |   |
|   Interest expense                                                           |   |                       |               (10,559 | )  |   |   |            (1,827 | )  |
| Total other income (expense), net                                                 |   |                       |               (10,559 | ) |   |   |            94,726 |   |
| Loss from continuing operations                                                        |   |                       | (882,004                                                                                    | ) |   |   | (649,403 | ) |
|                                                                                   |   |                       |                                                                                        |   |   |   |   |   |
| Discontinued operations:                                                               |   |                       |                                                                                        |   |   |   |   |   |
|                                                                                   |   |                       |                                                                                        |   |   |   |   |   |
| Income (Loss) from discontinued operations, net of income tax benefit of  $0 |   |                       | (79,894                                                                                     | )  |   |   | 66,510 |   |
|                                                                                   |   |                       |                                                                                        |   |   |   |   |   |
| Gain on sale of assets of discontinued operations, net of income tax benefit of $0     |   |                       | 116,218                                                                                     |   |   |   | -- |   |
| Income from discontinued operations, net                                               |   |                       | 36,324                                                                                      |   |   |   | 66,510 |   |
| Net loss                                                                               |   | $                          |   (845,680                                                                        | ) |   | $ |       (582,893 | ) |
|                                                                              |   |                       |                                                                                        |   |   |   |   |   |
| Net Loss Per Share Basic and Diluted - continuing operations                           |   | $                          | (0.00                                                                                       | ) |   | $ |                (0.00 | )  |
| Net Income Per Share Basic and Diluted - discontinued operations                       |   | $                          | 0.00                                                                                        |   |   | $ | 0.00 |   |
| Total Net Income (loss) per share Basic and Diluted                                    |   | $                          | (0.00                                                                                       | ) |   | $ | (0.00 | ) |
| Weighted Average Shares Outstanding - Basic                                            |   |                       | 424,183,247                                                                                 |   |   |   | 195,056,910 |   |
| Weighted Average Shares Outstanding - Diluted                                          |   |                       | 426,000,991                                                                                 |   |   |   | 199,709,056 |   |

----

|                                                               |   | For the Three Months Ended March 31, |     |
|--------------------------------------------------------------------|--------|--------------------------------------|----------|
|                                                               |   | 2011                                 |     |   | 2010 |   |
|                                                               |   |                                 |     |   |   |   |
| Operating Activities:                                              |   |                                 |     |   |   |   |
| Net Income (Loss)                                                  |   | $                                    | (845,680 | )  |   | $ | (582,893 | )  |
| Adjustments to reconcile net income (loss) to net cash provided by |   |                                 |     |   |   |   |   |   |
| (used in) operating activities:                                    |   |                                 |     |   |   |   |   |   |
| Stock Granted For Services To Non-Employees                        |   |                                 | 40,000   |   |   |   | 7,000 |   |
| Stock Granted For Services To Employees                            |   |                                 | 5,178    |   |   |   | 15,775 |   |
| Stock Options Granted For Services                                 |   |                                 | 40,154   |   |   |   | 156,582 |   |
| Stock Options Granted For Settlement of Debt                       |   |                                 | -        |   |   |   | 29,200 |   |
| Stock Granted For Settlement of Debt                               |   |                                 | -        |   |   |   | 197,638 |   |
| Amortization Of Software                                           |   |                                 | 135,588  |   |   |   | - |   |
| Amortization Of Stock Issued for Prepaid Expenses                  |   |                                 | -        |   |   |   | (47,579 | ) |
| Depreciation                                                       |   |                                 | 10,179   |   |   |   | 40,594 |   |
| Amortization of Debt Discount                                      |   |                                 | 10,848   |   |   |   | - |   |
| Amortization Of Intangibles                                        |   |                                 | -        |   |   |   | 7,380 |   |
| Bad Debt                                                           |   |                                 | 36,589   |   |   |   | 5,700 |   |
| Changes in operating assets and liabilities:                       |   |                                 |     |   |   |   |   |   |
|   Accounts Receivable                                         |   |                                 | 257,365  |   |   |   | (174,447 | ) |
|   Prepaids                                                    |   |                                 | 35,177   |   |   |   | 22,992 |   |
|   Other Current Assets                                        |   |                                 | (10,444  | ) |   |   | (6,858 | ) |
|   Accounts Payable                                            |   |                                 | 26,583   |   |   |   | (268,376 | ) |
|   Accrued Expenses                                            |   |                                 | (15,726  | ) |   |   | (231,518 | ) |
|   Deferred Revenues                                           |   |                                 | 23,973   |   |   |   | 42,499 |   |
|   Due To Related Parties                                 |   |                                 | 37,907   |   |   |   | (16,175 | ) |
|  Other Current Liabilities                                    |   |                                 | (8,988   | ) |   |   | (27,544 | ) |
| Net Cash Used In Continuing Operating Activities                   |   |                                 | (221,296 | ) |   |   | (830,030 | ) |
| Net Cash Provided by (used in) Discontinued Operating Activities   |   |                                 | (108,108 | )  |   |   | 62,090 |   |
|                                                               |   |                                 |     |   |   |   |   |   |
| Investing Activities                                               |   |                                 |     |   |   |   |   |   |
| Purchase Of Property And Equipment                                 |   |                                 | -        |   |   |   | -- |   |
| Net Cash Used In Continuing Investing Activities                   |   |                                 | -        |   |   |   | -- |   |
| Net Cash Used in Discontinued Investing Activities                 |   |                                 | -        |   |   |   | (5,000 | ) |
|                                                               |   |                                 |     |   |   |   |   |   |
| Financing Activities                                               |   |                                 |     |   |   |   |   |   |
| Bank Overdraft                                                     |   |                                 | 1,063    |   |   |   | (27,721 | ) |
| Proceeds from Warrants Exercises                                   |   |                                 | -        |   |   |   | 12,465 |   |
| Repayments of Loans                                                |   |                                 | -        |   |   |   | (237,100 | ) |
| Proceeds From Sale of Series B Preferred Stock                     |   |                                 | -        |   |   |   | 568,480 |   |
| Financing Cost                                                     |   |                                 | (10,000  | ) |   |   | (150,000 | ) |
| Proceeds From Loans                                                |   |                                 | 145,500  |   |   |   | - |   |
| Proceeds from sale of intangible asset                             |   |                                 | 175,000  |   |   |   | - |   |
| Principal Payments on Capital Lease Obligations                    |   |                                 | -        |   |   |   | (963 | ) |
| Net Cash Provided by Financing Activities                          |   |                                 | 311,563  |   |   |   | 165,161 |   |
|                                                               |   |                                 |     |   |   |   |   |   |
| Net Decrease in Cash                                               |   |                                 | (17,841  | ) |   |   | (607,779 | ) |
| Cash Beginning of Period                                           |   |                                 | 35,756   |   |   |   | 1,316,067 |   |
| Cash End of Period                                                 |   | $                                    | 17,915   |   |   | $ | 708,288 |   |

| Supplemental Disclosure of Cash Flow Information:                                       |   |   |   |   |   |   |
|-----------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                    |   |   |   |   |   |   |
| Cash Paid For Interest                                                                  |   | $      | -      |   |   | $      | 1,827 |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Cash Paid For Taxes                                                                     |   | $      | -      |   |   | $      | - |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Supplemental Disclosure Of Non-Cash Investing                                           |   |   |   |   |   |   |   |   |
|     and Financing Activities:                                       |   |   |   |   |   |   |   |   |
|                                                                                    |   |   |   |   |   |   |   |   |
|     Prepaid common stock issued for services                        |   | $      | --     |   |   | $      | 70,158 |   |
|     Common stock issued for asset acquisition                       |   | $      | --     |   |   | $      | 10,500 |   |
|     Common stock issued for conversion of convertible debt          |   | $      | --     |   |   | $      | 109,900 |   |
|     Embedded conversion option liability                            |   | $      | 40,671 |   |   | $      | -- |   |
|     Settlement of accounts payable in exchange for intangible asset |   | $      | 14,000 |   |   | $      | -- |   |

----

----

| Level 1:  | Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.                                                                                                                                                                |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|           |                                                                                                                                                                                                                                                                            |
| Level 2:  | Inputs other than quoted prices that are observable, either directly or indirectly.  These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. |
|           |                                                                                                                                                                                                                                                                            |
| Level 3:       | Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.                                                                                     |

----

|                       | Balance at |   | Quoted Prices in   |   |   | Significant other |   | Significant  |   |
|----------------------------|------------|--------|--------------------|--------|--------|-------------------|--------|--------------|--------|
|                       | March 31,  |   | Active Markets for |   |   | Observable        |   | Unobservable |   |
|                       | 2011       |   | Identical Assets   |   |   | Inputs            |   | Inputs       |   |
|                       |       |   | (Level 1)          |   |   | (Level 2)         |   | (Level 3)    |   |
| Assets:                    |       |   |               |   |   |              |   |         |   |
| Goodwill                   |       | $      | --                 |   |   | $                 | --     |         |   |   | $ | -- |   | $  | -- |   |
| Intangible assets          |       |   | 20,000             |   |   |              |   |         |   |   |   |   |   |   |   | 20,000 |
| Total non-financial assets |       | $      | 20,000             |   |   |              |   |         |   |   |   |   |   |   |   |   |   |

----

| Beginning balance as of January 1, 2011 |   | $      | --       |   |
|-----------------------------------------|--------|--------|----------|--------|
| Note Financing                          |   |   | 150,000  |   |
| Debt Discount                           |   |   | (55,171) |   |
| Amortization of Debt Discount           |   |   | 10,848   |   |
| Balance as of March 31, 2011            |   | $      | 105,677  |   |

|                                   |   | Quantity |           |   | Weighted Average Exercise Price |   |           | Weighted Average Remaining Contractual Term(Years) |   |
|----------------------------------------|--------|----------|----------------|--------|---------------------------------|--------|----------------|----------------------------------------------------|--------|
| Balance Outstanding at January 1, 2011 |   |     | 28,625,217     |   |                            | $      | 0.067          |                                               |   |   | 3.97 |   |
| Granted                                |   |     | 16,000,000     |   |                            | $      | 0.01           |                                               |   |   | 4.85 |   |
| Exercised                              |   |     | –– |   |                            | $      | –– |                                               |   |   | –– |   |
| Fortified                              |   |     | (4,833,406     | )      |                            | $      | 0.05           |                                               |   |   | –– |   |
| Expired                                |   |     | –– |   |                            | $      | –– |                                               |   |   | –– |   |
| Cancelled                              |   |     | –– |   |                            | $      | –– |                                               |   |   | –– |   |
| Balance Outstanding at March 31, 2011  |   |     | 39,791,811     |   |                            | $      | 0.045          |                                               |   |   | 4.18 |   |
| Exercisable March 31, 2011             |   |     | 11,476,811     |   |                            | $      | 0.11           |                                               |   |   | 3.57 |   |

----

|                               |   | March 31, 2011 |   |   |
|------------------------------------|--------|----------------|--------|--------|
| Unvested shares at January 1, 2011 |   |           | 71,400 |   |
| Shares granted                     |   |           | --     |   |
| Shares vested                      |   |           | --     |   |
| Unvested shares canceled           |   |           | --     |   |
| Unvested shares at March 31, 2011  |   |           | 71,400 |   |

|                                 |   | No. of Shares |           |   | Weighted Average Exercise Price |   |           | Weighted Average Remaining Contractual Term (Years) |   |
|--------------------------------------|--------|---------------|----------------|--------|---------------------------------|--------|----------------|-----------------------------------------------------|--------|
| Balanced Outstanding January 1, 2011 |   |          | 6,495,665      |   |                            | $      | 0.038          |                                                |   |   | 2.12 |   |
| Issued                               |   |          | –– |   |                            |   | –– |                                                |   |   | –– |   |
| Granted                              |   |          | 6,000,000      |   |                            |   | 0.01           |                                                |   |   | –– |   |
| Exercised                            |   |          | –– |   |                            |   | –– |                                                |   |   | –– |   |
| Expired                              |   |          | –– |   |                            |   | –– |                                                |   |   | –– |   |
| Cancelled                            |   |          | –– |   |                            |   | –– |                                                |   |   | –– |   |
| Balance Outstanding March 31, 2011   |   |          | 12,495,665     |   |                            | $      | 0.20           |                                                |   |   | 0.97 |   |

----

| Three Months Ended March 31, 2011                                   |   | Direct Marketing |     |   | PhoneGuard |   |      | Segment Totals |   |   | Corporate  |   |   | Consolidated Totals |     |
|---------------------------------------------------------------------|--------|------------------|----------|--------|------------|--------|-----------|---------------------|--------|--------|------------|--------|--------|---------------------|----------|
| Revenue from external customers                                     |   | $                | 317,029  |   |       | $      | 7,731     |                |   | $      | 324,760    |   |   | $                   | —  |   |   | $ | 324,760 |   |
| Interest expense                                                    |   | $                | —  |   |       | $      | —   |                |   | $      | —    |   |   | $                   | (10,559  | ) |   | $ | (10,559 | ) |
| Depreciation and amortization                                       |   | $                | (10,179  | )      |       | $      | (135,588  | )                   |   | $      | (145,767   | )      |   | $                   | —  |   |   | $ | (145,767 | ) |
| Income tax expense                                                  |   | $                | —  |   |       | $      | —   |                |   | $      | —    |   |   | $                   | —  |   |   | $ | — |   |
| Net income (loss)                                                   |   | $                | (145,845 | )      |       | $      | (440,856  | )                   |   | $      | (586,701   | )      |   | $                   | (295,303 | ) |   | $ | (882,004 | ) |
|                                                                |   |             |     |   |       |   |      |                |   |   |       |   |   |                |     |   |   |   |   |   |
| Segment fixed assets & intangibles                              |   | $                | 69,172   |   |       | $      | 2,155,477 |                |   | $      | 2,224, 649 |   |   | $                   | —  |   |   | $ | 2,224,649 |   |
| Fixed asset, intangibles & goodwill additions (disposals) (net) |   | $                | —  |   |       | $      | —   |                |   | $      | —    |   |   | $                   | —  |   |   | $ | — |   |
| Total assets                                                        |   | $                | 382,463  |   |       | $      | 2,155,477 |                |   | $      | 2,537,940  |   |   | $                   | 28,061   |   |   | $ | 2,566,001 |   |

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|                              |   | Three Months Ended March 31, |    |
|-----------------------------------|--------|------------------------------|---------|
|                              |   |  2011                   |    |   |  2010 |   |
| Revenue                           |   | $                            | 157,191 |   |   | $ | 1,091,702 |   |
| Income (loss) before income taxes |   | $                            | (79,894 | ) |   | $ | 66,510 |   |

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| · | Three year terms with Justin Bieber having the right to terminate after one year in which case the other two agreements terminate;                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| · | Covers North America, Central America and South America;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| · | Warrants to purchase 121,160,749 shares of common stock at $0.01 per share or a total of 16.4% of the Company on a fully diluted basis, exercisable over three years with full anti-dilution protection for sales below the exercise price;                                                                                                                                                                                                                                                                                                                                                          |
| · | Pre-emptive rights for sales of equity and common stock equivalents above $0.01 per share so the Bieber Group may maintain their 16.4% ownership right; and Sales royalties based on all sales of DriveSafe during the term. The fair value of the 121,160,179 warrants is $848,125 based on a Black-Scholes pricing model using a stock price of $0.0085 (based on the grant date quoted trading price of the company's common stock), volatility of 159% (based on historical volatility), expected term of three-years based on the contracted term, and a risk free interest rate of 1.59%. |

| · | Term of one year to be extended as long as  the Bieber Group  agreements remain in effect;                                                                                                                                                                           |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| · | Covers North America, Central America and South America;                                                                                                                                                                                                                                 |
| · | Issued 18,000,000 shares of common stock;                                                                                                                                                                                                                                                |
| · | 37,000,000 one-year warrants exercisable at $0.01 per share;                                                                                                                                                                                                                             |
| · | 25,000,000 one-year warrants exercisable at $0.02 per share;                                                                                                                                                                                                                             |
| · | Similar pre-emptive rights as the Bieber Group although not keyed to a percentage and the same anti-dilution protection;                                                                                                                                                                 |
| · | A consulting fee of $20,000 per month which accrues until we raise $500,000 or enter into a factoring agreement in which case we pay $10,000 per month with the balance accruing until we raise $5,000,000. The consulting fees will be deducted from the royalties due described below; |
| · | Sales royalties based upon  a percent of adjusted gross profit after deducting activation and software costs and royalties payable to the Bieber Group; and                                                                                                                    |
| · | an option to take up to 50% of sales royalties due and receive shares of common stock at $0.01 per share, with a maximum of 25,000,000 shares issuable.                                                                                                                                  |

----

----

| ·   | Geo-Fencing – The administrator may set perimeters and receive alerts if the cell phone leaves the designated perimeter. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|

| ·   | Locator – The administrator can track a phone in real time giving speed and location. |
|--------------------|---------------------------------------------------------------------------------------------|

| ·   | Panic Button – The user can send an e-mail and text message with their location to the administrator in the event of an emergency. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Speed Control – The administrator gets a text message alert showing the location and speed of the user’s cell phone if they are speeding. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Scheduled Timeout – The administrator can govern the time of day the keyboard functions maybe used. |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| ·   | Phone Lock Down – If the phone is lost or stolen, the administrator can remotely lock down the phone. |
|--------------------|-------------------------------------------------------------------------------------------------------------|

| ·   | Data Wipe – The administrator can wipe the phones clean of all personal information if the phone is stolen or lost. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------|

| ·   | Data Back Up – Stores all of the data from the user’s phone so it can be exported to a new phone. |
|--------------------|---------------------------------------------------------------------------------------------------------------|

| ·   | Custom Auto Response – The administrator can create an outgoing text message which will be sent to individuals who text the recipient. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Significant changes in performance relative to expected operating results            |
|--------|---------|--------------------------------------------------------------------------------------|
|   | ● | Significant changes in the use of the assets or the strategy of our overall business |
|   | ● | Significant industry or economic trends                                              |

----

----

----

----

| Name or Class of Investor | Date of Sale       | No. of Securities                                                                                                                               | Reason for Issuance                                        |
|---------------------------|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|
| Series D Holders (1)      | 1/6/11 and 1/31/11 | 16,757,600 shares of common stock                                                                                                                    | Conversion of 712,198 shares of Series D preferred stock   |
| Lender (2)                | 2/25/11            | $150,000 six month secured promissory note, at 12% per annum interest and 6,000,000 warrants exercisable for two and a half years at $0.01 per share | Loan which is secured by all of the Company’s assets |
| Consultant (2)            | 3/7/11             | 4,000,000 shares of common stock                                                                                                                     | Consulting services                                        |

----

|     |               |                                                                                            |   | Incorporated by Reference |   |     |
|----------|--------------------|-------------------------------------------------------------------------------------------------|--------|---------------------------|--------|----------|
| Exhibit# |               | Exhibit Description                                                                             |   | Form                      |   | Date     |   | Number |   | Filed or Furnished Herewith |
|     |               |                                                                                            |   |                      |   |     |   |   |   |   |
| 3.1      |     | Amended and Restated Articles of Incorporation                                                  |   | 8-K                       |   | 6/25/08  |   | 3.1 |    |   |
| 3.2      |               | Certificate of Amendment – Name Change                                                    |   | 8-K                       |   | 6/25/08  |   | 3.2 |   |   |
| 3.3      |               | Certificate of Change                                                                           |   | 8-K                       |   | 6/25/08  |   | 3.3 |   |   |
| 3.4      |               | Certificate of Designation - Series A & Series B                                            |   | 10-K                      |   | 3/31/10  |   | 3.4 |   |   |
| 3.5      |               | Amendment to Certificate of Designation - Series B                                              |   | 10-K                      |   | 3/31/10  |   | 3.5 |   |   |
| 3.6      |               | Certificate of Amendment - Increased Capital                                                    |   | 10-K                      |   | 3/31/10  |   | 3.6 |   |   |
| 3.7      |               | Certificate of Amendment - Increased Capital                                                    |   | 10-Q                      |   | 8/13/10  |   | 3.4 |   |   |
| 3.8      |               | Certificate of Designation - Series C & Series D                                            |   | 10-Q                      |   | 8/13/10  |   | 3.7 |   |   |
| 3.9      |               | Certificate of Correction - Series D                                                            |   | 10-Q                      |   | 8/13/10  |   | 3.8 |   |   |
| 3.10     |               | Amendment to Certificate of Designation – Series D                                        |   | 10-Q                      |   | 8/13/10  |   | 3.9 |   |   |
| 3.11     |               | Amendment to Certificate of Designation – Series A                                        |   | 10-Q                      |   | 11/15/10 |   | 3.10 |   |   |
| 3.12     |               | Amendment to Certificate of Designation – Series C                                        |   | 10-Q                      |   | 11/15/10 |   | 3.11 |   |   |
| 3.13     |               | Certificate of Designation – Series E                                                     |   | 10-Q                      |   | 11/15/10 |   | 3.12 |   |   |
| 3.14     |               | Certificate of Designation – Series F                                                     |   |                      |   |     |   |   |   |  Filed |
| 3.15     |               | Certificate of Designation – Series G                                                     |   |                      |   |     |   |   |   | Filed |
| 3.16     |               | Bylaws                                                                                          |   | Sb-2                      |   | 11/08/07 |   | 3.2 |   |   |
| 3.17     |               | First Amendment to Bylaws                                                                       |   | 8-K                       |   | 9/25/08  |   | 3.1 |   |   |
| 3.18     |               | Second Amendment to Bylaws                                                                      |   | 10-K                      |   | 3/31/10  |   | 3.9 |   |   |
| 10.1     |               | Summary of Russell Strunk Employment Agreement*                                                 |   | 10-K                      |   | 5/16/11  |   | 10.3 |   |   |
| 10.2     |               | Asset Purchase Agreement dated April 16, 2010                                                   |   | 10-K                      |   | 5/16/11  |   | 10.4 |   |   |
| 10.3     |               | Anthony Sasso Employment Agreement*                                                             |   | **                        |   | **       |   | ** |   |   |
| 10.4     |               | Daniel Lansman Promissory Note                                                                  |   | 10-K/A                    |   | 10/16/09 |   | 10.17 |   |   |
| 10.5     |               | Scott Frohman Series C Agreement*                                                               |   | 10-K                      |   | 5/16/11  |   | 10.12 |   |   |
| 10.6     |               | Amendment to Scott Frohman Series C Agreement*                                                  |   | 10-K                      |   | 5/16/11  |   | 10.13 |   |   |
| 10.7     |               | Anthony Sasso Series C Agreement*                                                               |   | 10-K                      |   | 5/16/11  |   | 10.18 |   |   |
| 10.8     |               | Amendment to Anthony Sasso Series C Agreement*                                                  |   | 10-K                      |   | 5/16/11  |   | 10.19 |   |   |
| 10.9     |               | RVH Security Agreement dated February 25, 2011                                                  |   | 10-K                      |   | 5/16/11  |   | 10.22 |   |   |
| 10.10    |               | Database Purchase Agreement                                                                     |   | 10-K                      |   | 5/16/11  |   | 10.23 |   |   |
| 10.11    |               | RVH Secured Promissory Note dated February 25, 2011                                             |   | 10-K                      |   | 5/16/11  |   | 10.24 |   |   |
| 31.1     |               | Certification of Principal Executive Officer (Section 302)                                 |   |                      |   |     |   |   |   | Filed |
| 31.2     |               | Certification of Principal Financial Officer (Section 302)                                 |   |                      |   |     |   |   |   | Filed |
| 32.1     |               | Certification of Principal Executive Officer and Principal Financial Officer (Section 906) |   |                      |   |     |   |   |   | Furnished |

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|         |   | OPTIONS MEDIA GROUP HOLDINGS, INC.                   |   |
|--------------|--------|------------------------------------------------------|--------|
| May 23, 2011 |   |                                                 |   |
|         | By:    | /s/ Scott Frohman                               |   |
|         |   | Scott Frohman                                        |   |
|         |   | Chief Executive Officer(Principal Executive Officer) |   |
|         |   |                                                 |   |
|         |   |                                                 |   |
| May 23, 2011 | By:    | /s/ Steve Stowell                               |   |
|         |   | Steve Stowell                                        |   |
|         |   | Chief Financial Officer(Principal Financial Officer) |   |