----

----

| Nevada                          | 26-0657736          |
|---------------------------------|---------------------|
| (State or other jurisdiction of | (I.R.S. Employer    |
| incorporation of organization)  | Identification No.) |

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

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|                            |                                                                                                                                                                                      | Page No.  |
|---------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|
| PART I. - FINANCIAL INFORMATION |
| Item 1.                         | Consolidated condensed Financial Statements                                                                                                                                               |      |
|                            | Consolidated Condensed Balance Sheets as of March 31, 2011 (Unaudited) and December 31, 2010                                                                                              | F-2       |
|                            | Consolidated Condensed Statements of Operations for the Three Months Ended March 31, 2011 (Unaudited) and for the Period from February 10, 2010 (Inception) to March 31, 2010 (Unaudited) |  F-3 |
|                            | Consolidated Condensed Statements of Cash Flows for the Three Months Ended March 31, 2011 (Unaudited) and for the Period from February 10, 2010 (Inception) to March 31, 2010 (Unaudited) |  F-4 |
|                            | Notes to Unaudited Consolidated Condensed Financial Statements                                                                                                                            | F-5       |
| Item 2.                         | Management's Discussion and Analysis of Financial Condition and Results of Operations.                                                                                                    | 18        |
| Item 3.                         | Quantitative and Qualitative Disclosures About Market Risk.                                                                                                                               | 26        |
| Item 4.                         | Controls and Procedures.                                                                                                                                                                  | 26        |
|                            |
| PART II - OTHER INFORMATION     |
| Item 1.                         | Legal Proceedings.                                                                                                                                                                        | 26        |
| Item 1A.                        | Risk Factors.                                                                                                                                                                             | 27        |
| Item 2.                         | Unregistered Sales of Equity Securities and Use of Proceeds.                                                                                                                              | 27        |
| Item 3.                         | Default upon Senior Securities.                                                                                                                                                           | 27        |
| Item 4.                         | (Removed and Reserved)                                                                                                                                                                    | 27        |
| Item 5.                         | Other Information.                                                                                                                                                                        | 27        |
| Item 6.                         | Exhibits.                                                                                                                                                                                 | 27        |

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|                                                                                                                     |   | March 31,   |                                                                                                                                                                            |   | December 31, |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|-------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|
|                                                                                                                     |   | 2011        |                                                                                                                                                                            |   | 2010         |   |
|                                                                                                                     |   | (Unaudited) |                                                                                                                                                                            |   | ( Note 1)    |   |
| ASSETS                                                                                                                   |
| CURRENT ASSETS:                                                                                                          |   |        |                                                                                                                                                                            |   |         |   |   |   |
|     Cash and cash equivalents                                                                        |   | $           |                     261,509                                                 |   |         | $      |                509,550 |   |
|     Restricted cash - current portion                                                                |   |        |                   3,695,568                                                           |   |         |   |                560,000 |   |
|     Accounts receivable, net                                                                         |   |        |                       15,000                                      |   |         |   |                293,990 |   |
|     Notes and loans receivable                                                                       |   |        |                   2,276,172                                                           |   |         |   |                123,544 |   |
|     Advances, participation guarantees, and other receivables, net                                   |   |        |                     399,943                                                 |   |         |   |                526,296 |   |
|     Prepaid expenses                                                                                 |   |        |                     384,364                                                 |   |         |   |                143,106 |   |
|     Deferred financing costs                                                                         |   |        |                     811,233                                                 |   |         |   |                        - |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|       Total Current Assets                                                                 |   |        |                   7,843,789                                                           |   |         |   |             2,156,486 |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
| OTHER ASSETS:                                                                                                            |   |        |                                                                                                                                                                            |   |         |   |   |   |
|     Restricted cash - long-term portion                                                              |   |        |                     500,000                                                 |   |         |   |                500,000 |   |
|     Property and equipment, net                                                                      |   |        |                       35,536                                      |   |         |   |                  33,524 |   |
|     Advances - net of current portion                                                                |   |        |                              - |   |         |   |                  49,153 |   |
|     Deposits                                                                                         |   |        |                         8,509                           |   |         |   |                  38,509 |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|       Total Other Assets - Net                                                             |   |        |                     544,045                                                 |   |         |   |                621,186 |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|      Total Assets                                                                               |   | $           |                   8,387,834                                                           |   |         | $      |             2,777,672 |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                     |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
| CURRENT LIABILITIES:                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|     Accounts payable and accrued expenses                                                            |   | $           |                     156,593                                                 |   |         | $      |                101,329 |   |
|     Note payable, net of debt discount                                                               |   |        |                   1,438,767                                                           |   |         |   |                        - |   |
|     Note payable - related party, net of debt discount                                               |   |        |                   1,438,767                                                           |   |         |   |                        - |   |
|     Convertible promissory notes, net of debt discount                                               |   |        |                     103,288                                                 |   |         |   |                        - |   |
|     Convertible promissory note - related party, net of debt discount                                |   |        |                       15,890                                      |   |         |   |                        - |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|         Total Liabilities                                                        |   |        |                   3,153,305                                                           |   |         |   |                101,329 |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
| Commitments and Contingencies                                                                                            |   |        |                                                                                                                                                                            |   |         |   |   |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
| STOCKHOLDERS' EQUITY :                                                                                                   |   |        |                                                                                                                                                                            |   |         |   |   |   |
|     Preferred stock ($.0001 Par Value; 50,000,000 Shares Authorized;                                 |   |        |                                                                                                                                                                            |   |         |   |   |
|         Series A, 2,250,000 and none issued and outstanding as of                |   |        |                                                                                                                                                                            |   |         |   |   |   |
|         March 31, 2011 and December 31, 2010, respectively)                      |   |        |                            225           |   |         |   |                        - |   |
|     Common stock ($.0001 Par Value; 500,000,000 Shares Authorized;                                   |   |        |                                                                                                                                                                            |   |         |   |   |
|         22,185,805  and 22,135,805 shares issued and outstanding as of |   |        |                                                                                                                                                                            |   |         |   |   |   |
|         March 31, 2011 and December 31, 2010, respectively)                      |   |        |                         2,218                           |   |         |   |                   2,213 |   |
|     Additional paid-in capital                                                                       |   |        |                   8,655,608                                                           |   |         |   |             4,749,678 |   |
|     Accumulated deficit                                                                              |   |        |                 (3,423,522)                                                                     |   |         |   |            (2,075,548) |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|      Total Stockholders' Equity                                                                 |   |        |                   5,234,529                                                           |   |         |   |             2,676,343 |   |
|                                                                                                                     |   |        |                                                                                                                                                                            |   |         |   |   |   |
|      Total Liabilities and Stockholders' Equity                                                 |   | $           |                   8,387,834                                                           |   |         | $      |             2,777,672 |   |

----

|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   | For the Period from                                                                                                                                                                                                                                                                                                                                     |    |
|--------------------------------------------------------------------------------|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|
|                                                                           |   |   | Three Months Ended                                                                                                                                                                                                                                                                        |    |   |  February 10, 2010 (Inception)                                                                                                                                                                                                                                                                                                                     |
|                                                                           |   |   | March 31, 2011                                                                                                                                                                                                                                                                            |    |   |  to March 31, 2010                                                                                                                                                                                                                                                                                                                                 |    |
|                                                                           |   |   | (Unaudited)                                                                                                                                                                                                                                                                               |    |   | (Unaudited)                                                                                                                                                                                                                                                                                                                                             |    |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| Net revenues                                                                   |   | $      |  291,200                                                                                                                                                                                                                                                                             |    | $      |   -                                                                                                                                                                                                                                                                                                                                           |    |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| Operating expenses:                                                            |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
|    Cost of revenues                                             |   |   |                                            189,916                 |    |   |                                                          - |    |
|    Sales and marketing expenses                                 |   |   |                                               9,914 |    |   |                                                   6,525                                       |    |
|    Live events expenses                                         |   |   |                                             90,181            |    |   |                                                  70,947                                            |    |
|    Compensation and related taxes                               |   |   |                                            352,711                 |    |   |                                                  45,000                                            |    |
|    Consulting fees                                              |   |   |                                            187,860                 |    |   |                                                   4,000                                       |    |
|    General and administrative expenses                          |   |   |                                            347,554                 |    |   |                                                  45,310                                            |    |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
|          Total operating expenses |   |   |                                         1,178,136                                 |    |   |                                                171,782                                                       |    |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| Loss from operations                                                           |   |   |                                          (886,936                            | )  |   |                                              (171,782                                                                  | )  |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| Interest expense and other finance costs,                                      |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
|   net of interest income of $23,659                                  |   |   |                                          (401,426                            | )  |   |                                                          - |    |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| Net loss available to common stockholders                                      |   | $      |  (1,288,362                                                                                                                                                                                                                                                                          | )  | $      | (171,782                                                                                                                                                                                                                                                                                                                                                | )  |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| NET LOSS PER COMMON SHARE:                                                     |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
|   Basic and Diluted                                                  |   | $      | (0.06                                                                                                                                                                                                                                                                                     | )  | $      |  (0.01                                                                                                                                                                                                                                                                                                                                             | )  |
|                                                                           |   |   |                                                                                                                                                                                                                                                                                      |    |   |                                                                                                                                                                                                                                                                                                                                                    |    |
| WEIGHTED AVERAGE COMMON SHARES                                                 |   |   |                                                                                                                                                                                                                                                                                      |    |
|     OUTSTANDING - Basic and Diluted                        |   |   |                                       22,718,027                                            |    |   |                                           12,090,000                                                                                  |    |

----

|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              | For the Period from                 |    |
|-------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|---------|
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        | Three Months Ended                                                                                                                                                                                                                                                                                                                                |     |                                                                                                                                                                                                                                                                                                                                              |  February 10, 2010 (Inception) |    |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        | March 31, 2011                                                                                                                                                                                                                                                                                                                                    |     |                                                                                                                                                                                                                                                                                                                                              |  to March 31, 2010             |    |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                   |                                                                                                                                                                                                                                                                       | (Unaudited)                                                                                                                                                                                                                                                                           |                                                                           |                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                                                                                                                                                                                                                                                                                                                                       |     |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
|                                                                    | Net loss                                                                                                                                                                                                                                                                   | $                                                                                                                                                                                                                                                                                     |  (1,288,362                                                               | )                                                                                                                                                                                                                                                                                                                                      | $                                                                                                                                                                                                                                                                                                                                                 | (171,782 | )                                                                                                                                                                                                                                                                                                                                            |
|                                                                    | Adjustments to reconcile net loss to net cash provided by                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       | (used in) operating activities:                                                                                                                                                                                                                                                       |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Depreciation                                                                                                                                                                                                                                                                          |                                                                           |                                                 1,960                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                      46                  |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Bad debts                                                                                                                                                                                                                                                                             |                                                                           |                                                60,794                                            |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Amortization of promotional advances                                                                                                                                                                                                                                                  |                                                                           |                                                 8,643                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                  5,346                                       |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Amortization of debt discounts and deferred financing cost                                                                                                                                                                                                                            |                                                                           |                                              385,479                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Amortization of prepaid expense in connection                                                                                                                                                                                                                                         |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | with the issuance of common stock issued for prepaid services                  |                                                46,666                                            |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Contributed officer services                                                                                                                                                                                                                                                          |                                                                           |                                                        - |                                                                                                                                                                                                                                                                                                                                              |     |                                                45,000                                                  |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Stock-based compensation                                                                                                                                                                                                                                                              |                                                                           |                                              176,250                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    | Changes in operating assets and liabilities:                                                                                                                                                                                                                               |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       | Restricted cash - current portion                                                                                                                                                                                                                                                     |                                                                           |                                          (3,135,568                                                                            | )                                                                                                                                                                                                                                                                                                                                            |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Accounts receivable                                                                                                                                                                                                                                                                   |                                                                           |                                              218,196                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Advances, participation guarantees, and other receivables, net                                                                                                                                                                                                                        |                                                                           |                                              107,161                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                             (156,601                                                                  | )                              |
|                                                                    |                                                                                                                                                                                                                                                                       | Prepaid expenses                                                                                                                                                                                                                                                                      |                                                                           |                                                (7,924                                            | )                                                                                                                                                                                                                                                                                                                                            |     |                                              (11,042                                                             | )                              |
|                                                                    |                                                                                                                                                                                                                                                                       | Deposits                                                                                                                                                                                                                                                                              |                                                                           |                                                30,000                                            |                                                                                                                                                                                                                                                                                                                                              |     |                                              (37,817                                                             | )                              |
|                                                                    |                                                                                                                                                                                                                                                                       | Accounts payable and accrued expenses                                                                                                                                                                                                                                                 |                                                                           |                                                55,264                                            |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| NET CASH USED IN  OPERATING ACTIVITIES                        |                                                                                                                                                                                                                                                                       |                                          (3,341,441                      | )                                                                         |                                                                                                                                                                                                                                                                                                                                        |                                             (326,850                                                                  | )   |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                   |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |
|                                                                    |                                                                                                                                                                                                                                                                       | Advances on notes and loans receivable                                                                                                                                                                                                                                                |                                                                           |                                          (2,177,628                                                                            | )                                                                                                                                                                                                                                                                                                                                            |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Collection on note receivable                                                                                                                                                                                                                                                         |                                                                           |                                                25,000                                            |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Purchase of property and equipment                                                                                                                                                                                                                                                    |                                                                           |                                                (3,972                                            | )                                                                                                                                                                                                                                                                                                                                            |     |                                              (15,479                                                             | )                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| NET CASH USED IN INVESTING ACTIVITIES                                   |                                                                                                                                                                                                                                                                       |                                          (2,156,600                      | )                                                                         |                                                                                                                                                                                                                                                                                                                                        |                                              (15,479                                                             | )   |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                   |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |
|                                                                    |                                                                                                                                                                                                                                                                       | Proceeds from loan payable - related party                                                                                                                                                                                                                                            |                                                                           |                                                        - |                                                                                                                                                                                                                                                                                                                                              |     |                                              319,000                                                             |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Proceeds from note payable - related party                                                                                                                                                                                                                                            |                                                                           |                                           2,250,000                                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Proceeds from note payable                                                                                                                                                                                                                                                            |                                                                           |                                           2,250,000                                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Proceeds from convertible promissory note - related party                                                                                                                                                                                                                             |                                                                           |                                              100,000                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Proceeds from convertible promissory notes                                                                                                                                                                                                                                            |                                                                           |                                              650,000                                                       |                                                                                                                                                                                                                                                                                                                                              |     |                                                         - |                                |
|                                                                    |                                                                                                                                                                                                                                                                       | Payments on related party advances                                                                                                                                                                                                                                                    |                                                                           |                                                        - |                                                                                                                                                                                                                                                                                                                                              |     |                                              (14,141                                                             | )                              |
|                                                                    |                                                                                                                                                                                                                                                                       | Proceeds from related party advances                                                                                                                                                                                                                                                  |                                                                           |                                                        - |                                                                                                                                                                                                                                                                                                                                              |     |                                                61,885                                                  |                                |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                               |                                                                                                                                                                                                                                                                       |                                           5,250,000                 |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                              366,744                                                             |     |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                    |                                            (248,041 | )                                                                                                                                                                                                                                                                                |                                                                           |                                                24,415                                            |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| CASH AND CASH EQUIVALENTS- beginning of period                          |                                                                                                                                                                                                                                                                       |                                              509,550 |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                         - |     |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| CASH AND CASH EQUIVALENTS- end of period                                | $                                                                                                                                                                                                                                                                          |  261,509                                                                                                                                                                                                                                                                         |                                                                           | $                                                                                                                                                                                                                                                                                                                                           | 24,415                                                                                                                                                                                                                                                                                                                                            |     |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW  INFORMATION:            |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |
|                                                                    | Cash paid for:                                                                                                                                                                                                                                                             |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Interest                                                                       | $                                                                                                                                                                                                                                                                                                                                           | 4,771                                                                                                                                                                                                                                                                                                                                             |     | $                                                                                                                                                                                                                                                                                                                                                 |  -                             |    |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Income taxes                                                                   | $                                                                                                                                                                                                                                                                                                                                           |   -                                                                                                                                                                                                                                                                                                                                     |     | $                                                                                                                                                                                                                                                                                                                                                 |   -                       |    |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |                                                                                                                                                                                                                                                                       |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |                                                                           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |                                |    |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Carrying value of assumed assets, liabilities and certain promotion            |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |   rights agreement contributed from Golden Empire, LLC               | $                                                                                                                                                                                                                                                                                                                                           |   -                                                                                                                                                                                                                                                                                                                                     |     | $                                                                                                                                                                                                                                                                                                                                                 |  (30,551                       | )  |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Common stock issued for prepaid services                                       | $                                                                                                                                                                                                                                                                                                                                           |  280,000                                                                                                                                                                                                                                                                                                                                     |     | $                                                                                                                                                                                                                                                                                                                                                 |  (30,551                       | )  |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Beneficial conversion feature and debt discount in connection with the         |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |   issuance of convertible promissory notes                           | $                                                                                                                                                                                                                                                                                                                                           |  750,000                                                                                                                                                                                                                                                                                                                                     |     | $                                                                                                                                                                                                                                                                                                                                                 |   -                       |    |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Debt discount in connection with the issuance of the credit facility           |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |    agreement and notes payable                                  | $                                                                                                                                                                                                                                                                                                                                           | 1,800,000                                                                                                                                                                                                                                                                                                                                         |     | $                                                                                                                                                                                                                                                                                                                                                 |    -                 |    |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  | Deferred financing cost in connection with the issuance of the credit facility |                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                              |
|                                                                    |                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                  |    agreement and notes payable                                  | $                                                                                                                                                                                                                                                                                                                                           |  900,000                                                                                                                                                                                                                                                                                                                                     |     | $                                                                                                                                                                                                                                                                                                                                                 |  -                             |    |

----

----

|                                                    |    | March 31,2011                                                                                                                                                                                                             |   | December 31,2010 |      |
|---------------------------------------------------------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|-----------|
| Letter of credit arrangements – current portion   | $  |  560,000                                                                                                                                                                                                             |   | $                | 560,000   |   |
| Letter of credit arrangements – long-term portion |    |                                    500,000 |   |             | 500,000   |   |
| Cash held in escrow                                     |    | 592,205                                                                                                                                                                                                                   |   |             | -         |   |
| Funds to be used for a particular event                 |    | 2,543,363                                                                                                                                                                                                                 |   |             | -         |   |
|                                                    | $  |  4,195,568                                                                                                                                                                                                           |   | $                | 1,060,000 |   |

----

----

| · | Revenue from ticket sales is recognized when the event occurs. Advance ticket sales and event-related revenues for future events are deferred until earned, which is generally once the events are conducted. The recognition of event-related expenses is matched with the recognition of event-related revenues. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Revenue from participation guarantee fee, sponsorship, advertising, television/cable distribution agreements, promoter and advisory service agreements is recognized in accordance with the contract terms, which are generally at the time events occur. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Revenue from the sale of products is recognized at the point of sale at the live event concession stands.  |
|--------|-----------------------------------------------------------------------------------------------------------------|

|                                                     |   | $      |    |   | % of Total |   |
|---------------------------------------------------------------|--------|--------|---------|--------|----------------------|--------|
| Live events – promoter’s fee and related revenues |   | $      | 286,200 |   |                 |   | 98 | % |
|                                                          |   |   |    |   |                 |   |   |   |
| Advertising – sponsorships                              |   |   | 5,000   |   |                 |   | 2 | % |
|                                                          |   |   |    |   |                 |   |   |   |
| Total                                                         |   | $      | 291,200 |   |                 |   | 100 | % |

----

|                                           |    | March 31,2011                                                                                                                                                                                                       |   | December 31,2010 |    |
|------------------------------------------------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|---------|
| Advances receivable                            | $  | 19,380                                                                                                                                                                                                              |   | $                | 13,250  |   |
| Promotional advances – current portion   |    |                                    - |   |             | 34,572  |   |
| Promotional advances – long-term portion |    |                                    - |   |             | 49,153  |   |
| Refundable advance                             |    | -                                                                                                                                                                                                                   |   |             | 205,000 |   |
| Participation guarantees, net of allowance     |    | 352,500                                                                                                                                                                                                             |   |             | 255,000 |   |
| Other receivables                              |    | 28,063                                                                                                                                                                                                              |   |             | 18,474  |   |
|                                           | $       | 399,943                                                                                                                                                                                                             |   | $                | 575,449 |   |

|                                                        |   | Three month period endedMarch 31, 2011                                                                   |   | For the Period fromFebruary 10, 2010 toMarch 31, 2010                            |   |   |   |
|-------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------|--------|--------|--------|
| Numerator:                                                  |   |                                                                                                          |   |                                                                             |   |   |   |
| Net loss                                                    |   | $            (1,288,362)                          |   | $         (171,782)                 |   |   |   |
|                                                        |   |                                                                                                          |   |                                                                             |   |   |   |
| Denominator:                                                |   |                                                                                                          |   |                                                                             |   |   |   |
| Denominator for basic loss per share                        |   |                                                                                                          |   |                                                                             |   |   |   |
| (weighted-average shares)                                   |   | 22,718,027                                                                                                    |   | 12,090,000                                                                       |   |   |   |
|                                                        |   |                                                                                                          |   |                                                                             |   |   |   |
| Denominator for dilutive loss per share                     |   |                                                                                                          |   |                                                                             |   |   |   |
| (adjusted weighted-average)                                 |   | 22,718,027                                                                                                    |   | 12,090,000                                                                       |   |   |   |
|                                                        |   |                                                                                                          |   |                                                                             |   |   |   |
| Basic and diluted loss per share from continuing operations |   |  $                (0.06) |   | $            ( 0.01) |   |   |   |

----

----

|                 | Estimated Life |   |   | March 31, 2011  |   |   | December 31, 2010 |   |
|--------------------------------|----------------|--------|--------|----------------------|--------|--------|-------------------|--------|
| Furniture and fixtures         | 5 years        |   | $      | 14,057               |   | $      | 14,057            |   |
| Office and computer equipments | 5 years        |   |   | 25,117               |   |   | 21,145            |   |
| Leasehold improvements         | 5 years        |   |   | 7,250                |   |   | 7,250             |   |
|                           |           |   |   | 46,424               |   |   | 42,452            |   |
| Less: accumulated depreciation |           |   |   | (10,888)             |   |   | (8,928)           |   |
|                           |           |   |   |                 |   |   |              |   |
|                           |           |   | $      | 35,536               |   | $      | 33,524            |   |

----

----

----

----

|                                                             |                           |   |
|------------------------------------------------------------------|--------------------------------|--------|
|                                                             | Number of Options and Warrants |   |   | Weighted Average Exercise Price |   | Weighted Average Remaining Contractual Life (Years) |   |
| Balance at beginning of year                                     | 2,850,000                      |   | $ | 0.60 |   | 9.45 |   |
| Granted                                                          | 350,000                        |   |   | 1.01 |   | 10.0 |   |
| Exercised                                                        | -                              |   |   | - |   | - |   |
| Forfeited                                                        | (600,000)                      |   |   | 0.60 |   | 9.20 |   |
| Cancelled                                                        | -                              |   |   | - |   | - |   |
| Balance outstanding at the end of period                         | 2,600,000                      |   | $ | 0.66 |   | 9.32 |   |
|                                                             |                           |   |   |   |   |   |   |
| Options exercisable at end of period                             | -                              |   | $ | - |   |   |   |
| Options expected to vest                                         | 2,600,000                      |   |   |   |   |   |   |
| Weighted average fair value of options granted during the period |                           |   | $ | 1.01 |   |   |   |

| Period ending March 31: |   |    |
|-------------------------|--------|---------|
| 2011                    |   | 47,520  |   |
| 2012                    |   | 64,764  |   |
| 2013                    |   | 66,663  |   |
| 2014                    |   | 68,634  |   |
| 2015 and thereafter     |   | 17,283  |   |
|                    | $      | 264,864 |   |

----

----

----

----

|   | · | Revenue from ticket sales is recognized when the event occurs. Advance ticket sales and event-related revenues for future events are deferred until earned, which is generally once the events are conducted. The recognition of event-related expenses is matched with the recognition of event-related revenues. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Revenue from participation guarantee fees, sponsorship, advertising, television/cable distribution agreements, promoter and advisory service agreements is recognized in accordance with the contract terms, which are generally at the time events occur. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Revenue from the sale of products is recognized at the point of sale at the live event concession stands. |
|--------|--------|-----------------------------------------------------------------------------------------------------------|

----

----

|                                                     |   | $      |    |   | % of Total |   |
|---------------------------------------------------------------|--------|--------|---------|--------|----------------------|--------|
| Live events – promoter’s fee and related revenues |   | $      | 286,200 |   |                 |   | 98 | % |
|                                                          |   |   |    |   |                 |   |   |   |
| Advertising – sponsorships                              |   |   | 5,000   |   |                 |   | 2 | % |
|                                                          |   |   |    |   |                 |   |   |   |
| Total                                                         |   | $      | 291,200 |   |                 |   | 100 | % |

|                                   |    | Three months endedMarch 31, 2011 |   |    | Period from February 10, 2010 (inception) to March 31, 2010 |
|----------------------------------------|---------|----------------------------------|--------|---------|------------------------------------------------------------------|
| Cost of revenues                       | $  | 189,916                          |   | $  |  -                                                          |
| Sales and marketing                    |    | 9,914                            |   |    | 6,525                                                            |
| Live events expenses                   |    | 90,181                           |   |    | 70,947                                                           |
| Compensation expense and related taxes |    | 352,711                          |   |    | 45,000                                                           |
| Consulting fees                        |    | 187,860                          |   |    | 4,000                                                            |
| General and administrative             |    | 347,554                          |   |    | 45,310                                                           |
|  Total                            | $  | 1,178,136                        |   | $  | 171,782                                                          |

----

|   | · | Cost of revenues:  Cost of revenues for live event production was $189,916 for three month periods ended March 31, 2011 as compared to $0 for the period from February 10, 2010 (inception) to March 31, 2010.   Live event production costs consist principally of fighters’ purses, production cost of live events, venue rental and related live events expenses. The increase of $189,916 or 100% in cost of revenues reflects the effects of increase net revenues during the three months ended March 31, 2011. We expect cost of revenues for live events to increase for the remainder of our current fiscal year as we promote more music and sporting events. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | · | Sales and marketing:  For the three month periods ended March 31, 2011, sales and marketing expense was $9,914 as compared to $6,525 for the period from February 10, 2010 (inception) to March 31, 2010. The increase of $3,389 or 52% was primarily due to the increase in operations. Sales and marketing expenses primarily consist of marketing, advertising and promotion expenses directly and indirectly related to live events. Indirect expenses consist of internet and print advertising.                                                                                                                                                                                        |

|   | · | Live events expenses: For the three month periods ended March 31, 2011, live events expenses was $90,181 as compared to $70,947 for the period from February 10, 2010 (inception) to March 31, 2010.   Live events operations expenses consist primarily of wages and consultants’ fees related to day-to-day administration of the Company’s live events, fighter recruiting and signing bonuses. The increase of $19,234 or 27% was primarily attributable to the live events that occurred during the three months ended March 31, 2011 as compared to none during the period from February 10, 2010 (inception) to March 31, 2010. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Compensation expense and related taxes: Compensation expense includes salaries and stock-based compensation to our employees. For the three months ended March 31, 2011, and for the period from February 10, 2010 (inception) to March 31, 2010, compensation expense and related taxes were $352,711 and $45,000. The increase of $307,711 or 684% were primarily attributable to the hiring of our executive employees and additional support staff in June 2010 and the recognition of stock-based compensation expense of $105,000 which is attributable to stock options granted to our chief executive officer, executive vice president and two directors. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    | · | Consulting fees: For three month period ended March 31, 2011, we incurred consulting fees of $187,860 as compared to $4,000 for the period from February 10, 2010 (inception) to March 31, 2010, which were primarily attributable to the issuance of our common stock for services rendered to a consultant for investor relations and advisory services of $46,666 and payment of $60,000 in connection with a investor relation and consulting agreement.  This increase is also primarily attributable to stock-based compensation expense of $71,250 which is attributable to stock options granted to two consultants. |
|--------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | General and administrative expenses: For the three month  period ended March 31, 2011 and for the period from February 10, 2010 (inception) to March 31, 2010, general and administrative expenses were $347,554 and $45,310 and consisted of the following: |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                             |    | Three months endedMarch 31, 2011 |   |    | Period from February 10, 2010 (inception) to March 31, 2010 |
|----------------------------------|---------|----------------------------------|--------|---------|------------------------------------------------------------------|
| Rent                             | $  | 17,304                           |   | $       | 3,240                                                            |
| Professional fees                |    | 152,749                          |   |    | -                                                                |
| Telephone                        |    | 10,065                           |   |    | 2,195                                                            |
| Travel/Entertainment             |    | 42,294                           |   |    | 35,576                                                           |
| Depreciation                     |    | 1,960                            |   |    | 46                                                               |
| Bad debts                        |    | 60,794                           |   |    | -                                                                |
| Insurance expense                |    | 23,469                           |   |    | -                                                                |
| Other general and administrative |    | 38,919                           |   |    | 4,253                                                            |
|  Total                      | $  | 347,554                          |   | $  | 45,310                                                           |

----

|  •                | $23,659 of interest income for the three months ended March 31, 2011 attributable to our certificates of deposit and interest receivable from loans receivable.                                                                                                                                                            |
|----------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  •           | $425,085 in interest expense for the three months ended March 31, 2011. Such increase is primarily attributable to the amortization of debt discounts and deferred financing cost on promissory notes of $385,479 and interest on notes payable and convertible promissory notes issued during 1st quarter of fiscal 2011. |

----

----

|                                            |   | Payments Due By Period |      |
|-------------------------------------------------|--------|------------------------|-----------|
|                                            |   | Total                  |      |   | Less than 1year |   |   | 1-3 Years |   |   | 4-5Years |   |   | 5 Years+ |   |
| Contractual Obligations:                        |   |                   |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Note payable                                    |   | $                      | 2,250,000 |   |   | $ | 2,250,000 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Note payable – related party              |   |                   | 2,250,000 |   |   |   | 2,250,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Convertible promissory notes                    |   |                   | 650,000   |   |   |   | 650,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Convertible promissory note- related party |   |                   | 100,000   |   |   |   | 100,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Operating lease                                 |   |                   | 264,864   |   |   |   | 47,520 |   |   |   | 200,061 |   |   |   | 17,283 |   |   |   | - |   |
|                                            |   |                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Contractual Obligations                   |   | $                      | 5,514,864 |   |   | $ | 5,297,520 |   |   | $ | 200,061 |   |   | $ | 17,283 |   |   | $ | - |   |

----

----

| 2.1    | Share Exchange Agreement dated as of September 29, 2010, by and among The Empire Sports & Entertainment Holdings Co., The Empire Sports & Entertainment, Co. and the shareholders of The Empire Sports & Entertainment Co. (Incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 5, 2010) |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1    | Amended and Restated Articles of Incorporation (Incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 4, 2010)                                                                                                                                                                          |
| 3.2    | Amended and Restated Bylaws (Incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed with the SEC on October 4, 2010)                                                                                                                                                                                             |
| 10.1** | The Empire Sports & Entertainment Holdings Co. 2010 Equity Incentive Plan (Incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 5, 2010)                                                                                                                                                          |
| 10.2** | Form of 2010 Incentive Stock Option Agreement(Incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 5, 2010)                                                                                                                                                                                           |

----

| 10.3** | Form of 2010 Non-Qualified Stock Option Agreement (Incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 5, 2010)                                                                                               |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.4** | Employment Agreement Shelly Finkel (Incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 5, 2010)                                                                                                              |
| 10.5   | Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (Incorporated by reference to Exhibit 10.1  (Incorporated by reference to the Company’s Current Report on Form 8-K filed with the SEC on October 12, 2010) |
| 10.6   | Form of Stock Purchase Agreement, dated as of October 8, 2010 (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on October 12, 2010)                                                                  |
| 21.1   | List of Subsidiaries*                                                                                                                                                                                                                                               |
| 31.1   | Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*                                                                                                                                                             |
| 31.2   | Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*                                                                                                                                                             |
| 32.1   | Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*                                                                                                                                                                 |
| 32.2   | Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*                                                                                                                                                                 |

|               | THE EMPIRE SPORTS & ENTERTAINMENT HOLDINGS CO. |                                                                             |
|--------------------|----------------------------------------------------|----------------------------------------------------------------------------------|
|               |                                               |                                                                             |   |
| Date: May 13, 2011 | By:                                                | /s/ Shelly Finkel                                                           |   |
|               |                                               | Shelly Finkel                                                                    |   |
|               |                                               | Chief Executive Officer (Principal Executive Officer)                  |   |
| Date: May 13, 2011 | By:                                                | /s/ Adam Wasserman                                                          |   |
|               |                                               | Adam Wasserman                                                                   |   |
|               |                                               | Chief Financial Officer (Principal Financial and Accounting Officer)   |   |

----