UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
  
 FORM
10-Q
 
 
 x
              QUARTERLY REPORT UNDER SECTION
      13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY
      PERIOD ENDED JUNE 30, 2008
  o
                TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934 For the transition
      period from
______to______
 Commission
File Number: 000-52512
  BLS
Media, Inc.
 (Exact
name of small business issuer as specified in its charter)
 
 Nevada
              20-5874196(State
      or other jurisdiction of
                incorporation
      or organization)
              (I.R.S.
      Employer
                Identification
      No.)
 
 1683
      Duarte Drive, Henderson, Nevada 89014(Address
      of principal executive offices)
 
 (949)
      292-0820(Issuer’s
      Telephone Number)
 
 Indicate
by check mark whether the issuer (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days. xYes oNo
  Indicate
by check mark whether the registrant is a large accelerated file, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the
definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.
  Large
      accelerated filer
              o
              
              Accelerated
      filer
              oNon-accelerated
      filer
              o
              (Do
      not check if a smaller reporting company)
              Smaller
      reporting company
              x
  Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). xYes
oNo
   APPLICABLE
ONLY TO CORPORATE ISSUERS
  State the
number of shares outstanding of each of the issuer's classes of common equity,
as of the latest practical date.  As of August 14, 2008, there were
4,515,500 shares of the issuer's $.001 par value common stock issued and
outstanding.
  
  PART
I - FINANCIAL INFORMATION
 
 Item 1.  Financial
Statements
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 BALANCE
SHEETS
   ASSETS
  June
      30, 2008
                      (Unaudited)
                    
                    
                    December
      31, 2007Current
      assetsCash
                    
                    $
                    20,172
                    
                    
                    $
                    38,253Prepaid
      expenses
                    
                    
                    417
                    
                    
                    
                    5,417Total
      current assets
                    
                    
                    20,589
                    
                    
                    
                    43,670Property
      and equipment, net of $584 and $334accumulated depreciation, respectively
                    
                    
                    2,472
                    
                    
                    
                    1,774Total
      assets
                    
                    $
                    23,061
                    
                    
                    $
                    45,444
  LIABILITIES
AND STOCKHOLDERS’ DEFICIT
  Current
      liabilitiesAccounts
      payable and accrued expenses
                    
                    $
                    50,624
                    
                    
                    $
                    45,134Loan
      from stockholder
                    
                    
                    22,000
                    
                    
                    
                    22,000Total
      current liabilities
                    
                    
                    72,624
                    
                    
                    
                    67,134Stockholders’
      deficitCommon
      stock, $.001 par value; 100,000,000 shares authorized,4,515,500
      shares issued and outstanding
                    
                    
                    4,516
                    
                    
                    
                    4,516Additional
      paid-in capital
                    
                    
                    55,034
                    
                    
                    
                    53,834Deficit
      accumulated during the development stage
                    
                    
                    (109,113
                    )
                    
                    
                    (80,040
                    )Total
      stockholders’ deficit
                    
                    
                    (49,563
                    )
                    
                    
                    (21,690
                    )Total
      liabilities and stockholders’deficit
                    
                    $
                    23,061
                    
                    
                    $
                    45,444
   See
accompanying notes to financial statements
 1
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 STATEMENTS
OF OPERATIONS
 (UNAUDITED)
 
 For
      the Three
                      Months
      Ended
                      June
      30, 2008
                    
                    
                    For
      the Three Months Ended June 30, 2007
                    
                    
                    For
      the Six Months ended June 30, 2008
                    
                    
                    For
      the Six
                      Months
      Ended
                      June
      30, 2007
                    
                    
                    For
      the Period from Inception
                      (October
      31, 2006) through
                      June
      30, 2008Net
      revenue
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    403
                    
                    
                    $
                    403Operating
      expensesLegal
      and professional
                    
                    
                    10,512
                    
                    
                    
                    14,602
                    
                    
                    
                    26,123
                    
                    
                    
                    26,176
                    
                    
                    
                    100,079General
      and administrative
                    
                    
                    883
                    
                    
                    
                    1,896
                    
                    
                    
                    2,070
                    
                    
                    
                    2,496
                    
                    
                    
                    6,778Total
      operating expenses
                    
                    
                    11,395
                    
                    
                    
                    15,660
                    
                    
                    
                    28,193
                    
                    
                    
                    28,672
                    
                    
                    
                    106,857Net
      operating loss
                    
                    
                    (11,395
                    )
                    
                    
                    (15,660
                    )
                    
                    
                    (28,193
                    )
                    
                    
                    (28,269
                    )
                    
                    
                    (106,454
                    )Interest
      expense
                    
                    
                    (440
                    )
                    
                    
                    (440
                    )
                    
                    
                    (880
                    )
                    
                    
                    (880
                    )
                    
                    
                    (2,659
                    )Loss
      before income taxes
                    
                    
                    (11,835
                    )
                    
                    
                    (16,100
                    )
                    
                    
                    (29,073
                    )
                    
                    
                    (29,149
                    )
                    
                    
                    (109,113
                    )Provision
      for income taxes
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    -Net
      loss
                    
                    $
                    (11,835
                    )
                    
                    $
                    (16,100
                    )
                    
                    $
                    (29,073
                    )
                    
                    $
                    (29,149
                    )
                    
                    $
                    (109,113
                    )Net
      loss per common share – basic and diluted
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    (0.01
                    )
                    
                    $
                    (0.01
                    )
                    
                    $
                    (0.03
                    )Weighted
      average of commonshares – basic and diluted
                    
                    
                    4,515,500
                    
                    
                    
                    4,000,000
                    
                    
                    
                    4,515,500
                    
                    
                    
                    4,000,000
                    
                    
                    
                    4,303,250
   See
accompanying notes to financial statements
 2
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 STATEMENTS
OF CHANGES IN STOCKHOLDERS’ DEFICIT
 FOR
THE PERIOD FROM INCEPTION (OCTOBER 31, 2006)
 THROUGH
JUNE 30, 2008
 
 DeficitAccumulated
                    
                    TotalCommon
      Stock
                    
                    
                    Additional
                    
                    
                    During
                    
                    Stockholders’Number
      of Shares
                    
                    
                    Amount
                    
                    
                    Paid-In
                      Capital
                    
                    
                    Development
                      Stage
                    
                    Equity
                      (Deficit)Balance,
      October 31, 2006
                    
                    
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -Issuance
      of common stock, November 1, 2006
                    
                    
                    4,000,000
                    
                    
                    
                    4,000
                    
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    4,000Additional
      paid-in capital in exchange for facilitiesprovided
      by related party
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    400
                    
                    
                    
                    -
                    
                    
                    
                    400Net
      loss
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    (11,014
                    )
                    
                    
                    (11,014
                    )Balance,
      December 31, 2006 (Audited)
                    
                    
                    4,000,000
                    
                    
                    
                    4,000
                    
                    
                    
                    400
                    
                    
                    
                    (11,014
                    )
                    
                    
                    (6,614
                    )Issuance
      of common stock for cash,June
      30, 2007
                    
                    
                    315,500
                    
                    
                    
                    316
                    
                    
                    
                    31,234
                    
                    
                    
                    -
                    
                    
                    
                    31,550Issuance
      of common stock for cash,July  23,
      2007
                    
                    
                    200,000
                    
                    
                    
                    200
                    
                    
                    
                    19,800
                    
                    
                    
                    -
                    
                    
                    
                    20,000Additional
      paid-in capital in exchange for facilitiesprovided
      by related party
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    2,400
                    
                    
                    
                    -
                    
                    
                    
                    2,400Net
      loss
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    (69,026
                    )
                    
                    
                    (69,026
                    )Balance,
      December 31, 2007 (Audited)
                    
                    
                    4,515,500
                    
                    
                    
                    4,516
                    
                    
                    
                    53,834
                    
                    
                    
                    (80,040
                    )
                    
                    
                    (21,690
                    )Additional
      paid-in capital in exchange for facilitiesprovided
      by related party
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    1,200
                    
                    
                    
                    -
                    
                    
                    
                    1,200Net
      loss
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    (29,073
                    )
                    
                    
                    (29,073
                    )Balance,
      June 30, 2008 (Unaudited)
                    
                    
                    4,515,500
                    
                    
                    $
                    4,516
                    
                    
                    $
                    55,034
                    
                    
                    $
                    (109,113
                    )
                    
                    $
                    (49,563
                    )
   See
accompanying notes to financial statements
  3
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 STATEMENTS
OF CASH FLOWS
 (UNAUDITED)
   For
      the Six Months Ended June 30, 2008
                    
                    
                    For
      the Six Months Ended June 30, 2007
                    
                    
                    For
      the Period from Inception
                      (October
      31, 2006) through
                      June
      30, 2008Cash
      flows from operating activitiesNet
      loss
                    
                    $
                    (29,073
                    )
                    
                    $
                    (29,149
                    )
                    
                    $
                    (109,113
                    )Adjustments
      to reconcile net loss to net cash used in operating
    activitiesAdditional
      paid-in capital in exchange for facilities provided by related
      party
                    
                    
                    1,200
                    
                    
                    
                    1,200
                    
                    
                    
                    4,000Depreciation
                    
                    
                    250
                    
                    
                    
                    123
                    
                    
                    
                    584Changes
      in operating assets and liabilitiesDecrease
      (Increase) in prepaid expenses
                    
                    
                    5,000
                    
                    
                    
                    -
                    
                    
                    
                    (417
                    )Increase
      in accounts payable and accruedexpenses
                    
                    
                    5,491
                    
                    
                    
                    14,509
                    
                    
                    
                    50,624Net
      cash used in operating activities
                    
                    
                    (17,132
                    )
                    
                    
                    (13,317
                    )
                    
                    
                    (54,322
                    )Cash
      flows from investing activitiesPurchase
      of property and equipment
                    
                    
                    (949
                    )
                    
                    
                    (2,107
                    )
                    
                    
                    (3,056
                    )Net
      cash used by investing activities
                    
                    
                    (949
                    )
                    
                    
                    (2,107
                    )
                    
                    
                    (3,056
                    )Cash
      flows from financing activitiesProceeds
      from issuance of stockholder loan
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    22,000Proceeds
      from issuance of common stock
                    
                    
                    -
                    
                    
                    
                    31,550
                    
                    
                    
                    55,550Net
      cash provided by financing activities
                    
                    
                    -
                    
                    
                    
                    31,550
                    
                    
                    
                    77,550Net
      increase (decrease) in cash
                    
                    
                    (18,081
                    )
                    
                    
                    16,126
                    
                    
                    
                    20,172Cash,
      beginning of period
                    
                    
                    38,253
                    
                    
                    
                    26,000
                    
                    
                    
                    -Cash,
      end of period
                    
                    $
                    20,172
                    
                    
                    $
                    42,126
                    
                    
                    $
                    20,172Supplemental
      disclosure of cash flowinformationIncome
      taxes paid
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -Interest
      paid
                    
                    $
                    -
                    
                    
                    $
                    -
                    
                    
                    $
                    -
 See
accompanying notes to financial statements
  4
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
   1.
                    NATURE OF OPERATIONS
      AND SUMMARY OF SIGNIFICANT ACCOUNTING
  POLICIES
 
 Nature of
Operations
 
 BLS
Media, Inc. (the Company) is currently a development stage company under the
provisions of Statement of Financial Accounting Standards (SFAS) No. 7 and was
incorporated under the laws of the State of Nevada on October 31,
2006.  Since inception, the Company has produced minimal revenues and
will continue to report as a development stage company until significant
revenues are produced.
 
 The
Company is a full service video production and media relations company that
specializes in providing customized video production services, public relations
services and copy editing services to businesses.
 
 Use of
Estimates
 
 The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements, and the reported amounts of revenues and expenses
during the reported periods.  Actual results could materially differ
from those estimates.
 
 Cash and Cash
Equivalents
 
 For
purposes of the balance sheet and statement of cash flows, the Company considers
all highly liquid debt instruments purchased with maturity of three months or
less to be cash equivalents.
 
 Fair Value of Financial
Instruments
 
 Pursuant
to SFAS No. 107, “Disclosures
About Fair Value of Financial Instruments”, the Company is required to
estimate the fair value of all financial instruments included on its balance
sheet.  The carrying value of cash, accounts payable and accrued
expenses approximate their fair value due to the short period to maturity of
these instruments.
  5
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
 1.
                    NATURE
      OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
      (Continued)
 
 Property and
Equipment
 
 Property
and equipment, if any, are stated at cost.  Depreciation of property
and equipment is provided using the straight-line method over the estimated
useful lives of the assets.  Expenditures for major renewals and
betterments that extend the useful lives of property and equipment are
capitalized.  Expenditures for maintenance and repairs are changed to
expense as incurred.
 
 Revenue
Recognition
 
 Revenue
is to be recognized from sales of its services when (a) persuasive evidence of a
sale with a customer exists, (b) services are rendered, (c) fee is fixed or
determinable, and (d) collection of the fee is reasonably assured.
 
 Provision for Income
Taxes
 
 The
Company accounts for income taxes under SFAS 109, “Accounting for Income
Taxes”.  Under the asset and liability method of SFAS 109,
deferred tax assets and liabilities are recognized for the future tax
consequences attributable to differences between the financial statements
carrying amounts of existing assets and liabilities and their respective tax
bases.  Deferred tax assets and liabilities are measured using enacted
tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled.  Under
SFAS 109, the effect on deferred tax assets and liabilities of a change in tax
rates is recognized in income in the period the enactment occurs.  A
valuation allowance is provided for certain deferred tax assets if it is more
likely than not that the Company will not realize tax assets through future
operations.
 
 Comprehensive
Income
 
 The
Company applies Statement of Financial Accounting Standards No. 130, “Reporting Comprehensive
Income” (SFAS 130).  SFAS 130 establishes standards for the
reporting and display of comprehensive income or loss, requiring its components
to be reported in a financial statement that is displayed with the same
prominence as other financial statements.  From inception (October 31,
2006) through June 30, 2008, the Company had no other components of
comprehensive loss other than net loss as reported on the statement of
operations.
  6
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
 1.
                    NATURE
      OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
      (Continued)
  Basic
and Diluted Income (Loss) Per Share
  In
accordance with SFAS No. 128, “Earnings
Per Share”, basic income (loss) per common share is computed by dividing
net income (loss) available to common stockholders by the weighted average
number of common shares outstanding.  Diluted income (loss) per common
share is computed similar to basic income per common share except that the
denominator is increased to include the number of additional common shares that
would have been outstanding if the potential common shares had been issued and
if the additional common shares were dilutive.  As of June 30, 2008,
the Company did not have any equity or debt instruments outstanding that could
be converted into common stock.
  Recent
Accounting Pronouncements
  In
December 2007, the FASB issued SFAS No. 141(R), Business
Combinations(SFAS No. 141(R)), which replaces SFAS No. 141, Business
Combinations, requires an acquirer to recognize the assets acquired, the
liabilities assumed, and any non-controlling interest in the acquiree at the
acquisition date, measured at their fair values as of that date, with limited
exceptions. This Statement also requires the acquirer in a business combination
achieved in stages to recognize the identifiable assets and liabilities, as well
as the non-controlling interest in the acquiree, at the full amounts of their
fair values.
  SFAS
No. 141(R) makes various other amendments to authoritative literature
intended to provide additional guidance or to confirm the guidance in that
literature to that provided in this Statement. This Statement applies
prospectively to business combinations for which the acquisition date is on or
after the beginning of the first annual reporting period beginning on or after
December 15, 2008. We do not expect this will have a significant impact on
our financial statements.
  In December 2007,
FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated
Financial Statements (SFAS No. 160), which amends Accounting Research
Bulletin No. 51, Consolidated Financial Statements, to improve the
relevance, comparability, and transparency of the financial information that a
reporting entity provides in its consolidated financial statements. SFAS
No. 160 establishes accounting and reporting standards that require the
ownership interests in subsidiaries not held by the parent to be clearly
identified, labeled and presented in the consolidated statement of financial
position within equity, but separate from the parent’s equity. This statement
also requires the amount of consolidated net income attributable to the parent
and to the non-controlling interest to be clearly identified and presented on
the face of the consolidated statement of income. Changes in a parent’s
ownership interest while the parent retains its controlling financial interest
must be accounted for consistently, and when a subsidiary is deconsolidated, any
retained non-controlling equity investment in the former subsidiary must be
initially measured at fair value. The gain or loss on the deconsolidation of the
subsidiary is measured using the fair value of any non-controlling equity
investment. The Statement also requires entities to provide sufficient
disclosures that clearly identify and distinguish between the interests of the
parent and the interests of the non-controlling owners. This Statement applies
prospectively to all entities that prepare consolidated financial statements and
applies prospectively for fiscal years, and interim periods within those fiscal
years, beginning on or after December 15, 2008. We do not expect this will
have a significant impact on our financial statements.
  7
 BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
 1.
                          NATURE
      OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
      (Continued)
 In
March 2008, the FASB issued Statement No. 161, “Disclosures
about Derivative Instruments and Hedging Activities-an amendment of FASB
Statement No. 133.” This Statement changes the disclosure requirements
for derivative instruments and hedging activities. Entities are required to
provide enhanced disclosures about (a) how and why an entity uses derivative
instruments, (b) how derivative instruments and related hedged items are
accounted for under Statement 133 and its related interpretations, and (c) how
derivative instruments and related hedged items affect an entity’s financial
position, financial performance, and cash flows.  This disclosure
better conveys the purpose of derivative use in terms of the risks that the
entity is intending to manage. Disclosing the fair values of derivative
instruments and their gains and losses in a tabular format should provide a more
complete picture of the location in an entity’s financial statements of both the
derivative positions existing at period end and the effect of using derivatives
during the reporting period. Disclosing information about credit-risk-related
contingent features should provide information on the potential effect on an
entity’s liquidity from using derivatives.  The provisions of SFAS 161
are effective for fiscal years beginning after November 15,
2008.  SFAS 161 will be effective for the Company on January 1,
2009.  The Company is currently evaluating the impact of the adoption
of SFAS 161 may have on its consolidated financial statement
disclosures.
  In May
2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted
Accounting Principles (“SFAS No. 162”). SFAS 162 identifies a consistent
framework, or hierarchy, for selecting accounting principles to be used in
preparing financial statements that are presented in conformity with U.S.
generally accepted accounting principles for nongovernmental entities (the
“Hierarchy”). The Hierarchy within SFAS 162 is consistent with that previously
defined in the AICPA Statement on Auditing Standards No. 69, “The Meaning
of Present Fairly in Conformity With Generally Accepted Accounting
Principles”
(“SAS 69”). SFAS 162 is effective 60 days following the United States Securities
and Exchange Commission’s (the “SEC”) approval of the Public Company Accounting
Oversight Board amendments to AU Section 411, “The Meaning of Present
Fairly in Conformity With Generally Accepted Accounting Principles”. The
adoption of SFAS 162 will not have a material effect on the financial statements
because the Company has utilized the guidance within SAS 69.
  In May
2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee
Insurance Contracts—an interpretation of FASB Statement No. 60 (“SFAS No.
163”). SFAS 163 requires recognition of an insurance claim liability prior to an
event of default when there is evidence that credit deterioration has occurred
in an insured financial obligation. SFAS 163 is effective for financial
statements issued for fiscal years beginning after December 15, 2008, and
all interim periods within those fiscal years. Early application is not
permitted. The Company’s adoption of SFAS 163 will not have a material effect on
the financial statements.
  In
September 2006, the FASB issued SFAS No. 157, Fair
Value Measurements(SFAS 157). SFAS 157 defines fair value, establishes a
framework for measuring fair value and enhances disclosures about fair value
measures required under other accounting pronouncements, but does not change
existing guidance as to whether or not an instrument is carried at fair value.
SFAS No. 157 was effective as of the beginning of the Company’s 2008 year.
The provisions of SFAS 157 were adopted January 1, 2008. In February 2008,
the FASB staff issued Staff Position No. 157-2 “Effective
Date of FASB Statement No. 157” (FSP FAS 157-2). FSP FAS 157-2
delayed the effective date of SFAS 157 for nonfinancial assets and nonfinancial
liabilities, except for items that are recognized or disclosed at fair value in
the financial statements on a recurring basis (at least annually). The
provisions of FSP FAS 157-2 are effective for the Company’s fiscal year
beginning January 1, 2009.
  8
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
 1.
                    NATURE
      OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
      (Continued)
  SFAS 157
establishes a fair value hierarchy that prioritizes the inputs to valuation
techniques used to measure fair value. The hierarchy gives the highest priority
to unadjusted quoted prices in active markets for identical assets or
liabilities (Level 1 measurements) and the lowest priority to unobservable
inputs (Level 3 measurements). The three levels of the fair value hierarchy
under SFAS 157 are described below:
  Level 1
                      Unadjusted
      quoted prices in active markets that are accessible at the measurement
      date for identical, unrestricted assets or
  liabilities;
  Level 2
                      Quoted
      prices in markets that are not active, or inputs that are observable,
      either directly or indirectly, for substantially the full term of the
      asset or liability;
  Level 3
                      Prices
      or valuation techniques that require inputs that are both significant to
      the fair value measurement and unobservable (supported by little or no
      market activity).
  The
Company had no financial assets and liabilities measured at fair value by level
within the fair value hierarchy as of June 30, 2008.
 
 SFAS No. 158 – In
September 2006, the FASB issued Statement No. 158 “Employers’ Accounting for Defined
Benefit Pension and Other Postretirement Plans - an amendment of FASB Statements
No. 87, 88, 106, and 132(R)”.  This Statement improves
financial reporting by requiring an employer to recognize the overfunded or
underfunded status of a defined benefit postretirement plan (other than a
multiemployer plan) as an asset or liability in its statement of financial
position and to recognize changes in that funded status in the year in which the
changes occur through comprehensive income of a business entity or changes in
unrestricted net assets of a not-for-profit organization.  This
Statement also improves financial reporting by requiring an employer to measure
the funded status of a plan as of the date of its year-end statement of
financial position, with limited exceptions.  An employer with
publicly traded equity securities is required to initially recognize the funded
status of a defined benefit postretirement plan and to provide the required
disclosures as of the end of the fiscal year ending after December 15,
2006.  An employer without publicly traded equity securities is
required to recognize the funded status of a defined benefit postretirement plan
and to provide the required disclosures as of the end of the fiscal year ending
after June 15, 2007.  The Company believes that the adoptions of this
standard will not a have a material impact on its financial
statements.
 
 SFAS No. 159 – In
February 2007, the FASB issued FAS No. 159, “The Fair Value Option for Financial
Assets and Financial Liabilities – Including an amendment of FASB Statement No.
115”, (“FAS 159”) which permits entities to choose to measure many
financial instruments and certain other items at fair value at specified
election dates. A business entity is required to report unrealized gains and
losses on items for which the fair value option has been elected in earnings at
each subsequent reporting date. This statement is expected to expand the use of
fair value measurement. FAS 159 is effective for financial statements issued for
fiscal years beginning after November 15, 2007, and interim periods within those
fiscal years.
 
 9
 BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
   2.            
GOING
CONCERN
 
 As shown
in the accompanying financial statements, the Company has incurred a net
operating loss of ($109,113) from inception (October 31, 2006) through June 30,
2008. The Company is subject to those risks associated with development stage
companies.  The Company has sustained losses since inception and
additional debt and equity financing will be required by the Company to fund its
development activities and to support operations.  However, there is
no assurance that the Company will be able to obtain additional
financing.  Furthermore, there is no assurance that rapid
technological changes, changing customer needs and evolving industry standards
will enable the Company to introduce new products on a continual and timely
basis so that profitable operations can be attained.
 
 3.            
ACCRUED
EXPENSES
 
 Accrued Wages and
Compensated Absences
 
 The
Company currently does not have any employees.  The majority of
development costs and services have been provided to the Company by the founders
and outside, third-party vendors.  As such, there is no accrual for
wages or compensated absences as of June 30, 2008.
 
 4.            
LOAN FROM
STOCKHOLDER
 
 The
Company has an outstanding note payable with a stockholder in the amount of
$22,000.  Per the terms of the note, this loan was due in one lump-sum
payment on December 28, 2007, together with interest that accrues at the rate of
8% per annum.  The loan funds are to be used for working capital
purposes.  The loan agreement was amended to extend the due date of
the loan to December 28, 2008.
 
 5.            
COMMON
STOCK
 
 On
November 1, 2006, the Company issued 4,000,000 shares of its common stock to its
officers for cash of $4,000 which was considered a reasonable estimate of fair
value.
 
 On June
30, 2007, the Company issued 315,500 shares of its common stock to unrelated
investors for cash of $31,550 pursuant to the Company’s Registration Statement
on Form SB-2.
  10
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 JUNE
30, 2008
 (UNAUDITED)
 5.            
COMMON
STOCK (Continued)
 
 On July
23, 2007, the Company issued 200,000 shares of its common stock to unrelated
investors for cash of $20,000 pursuant to the Company’s Registration Statement
on Form SB-2.
 
 6.            
PROVISION FOR INCOME
TAXES
 
 Deferred
income taxes are reported using the liability method.  Deferred tax
assets are recognized for deductible temporary differences and deferred tax
liabilities are recognized for taxable temporary
differences.  Temporary differences are the differences between the
reported amounts of assets and liabilities and their tax
bases.  Deferred tax assets are reduced by a valuation allowance when,
in the opinion of management, it is more likely than not that some portion or
all of the deferred tax assets will not be realized.  Deferred tax
assets and liabilities are adjusted for the effects of changes in tax laws and
rates on the date of enactment.
 
 As of June 30, 2008, the
Company had federal net operating loss carryforwards of approximately
($103,000), which can be used to offset future federal income
tax.  The federal net operating loss carryforwards expire at various
dates through 2028.  Deferred tax assets
resulting from the net operating losses are reduced by a valuation allowance,
when, in the opinion of management, utilization is not reasonably assured. A
summary of deferred tax assets at June 30, 2008 is as
follows:
  AmountFederal net operatin
      loss (@22.5%)
                    
                    $
                    23,175Less: Valuation
      allowance
                    
                    
                    (23,175
                    )Net deferred tax
      asset
                    
                    
                    -
  During the six months
ended June 30, 2008, the valuation allowance increased approximately
$6,500.
 11
 
 Item 2.  Plan of
Operation
 
 This
following information specifies certain forward-looking statements of management
of the company. Forward-looking statements are statements that estimate the
happening of future events and are not based on historical fact. Forward-looking
statements may be identified by the use of forward-looking terminology, such as
“may”, “shall”, “could”, “expect”, “estimate”, “anticipate”, “predict”,
“probable”, “possible”, “should”, “continue”, or similar terms, variations of
those terms or the negative of those terms. The forward-looking statements
specified in the following information have been compiled by our management on
the basis of assumptions made by management and considered by management to be
reasonable. Our future operating results, however, are impossible to predict and
no representation, guaranty, or warranty is to be inferred from those
forward-looking statements.
 
 The
assumptions used for purposes of the forward-looking statements specified in the
following information represent estimates of future events and are subject to
uncertainty as to possible changes in economic, legislative, industry, and other
circumstances. As a result, the identification and interpretation of data and
other information and their use in developing and selecting assumptions from and
among reasonable alternatives require the exercise of judgment. To the extent
that the assumed events do not occur, the outcome may vary substantially from
anticipated or projected results, and, accordingly, no opinion is expressed on
the achievability of those forward-looking statements. We cannot guaranty that
any of the assumptions relating to the forward-looking statements specified in
the following information are accurate, and we assume no obligation to update
any such forward-looking statements.
 
 Critical Accounting Policy and
Estimates.Our Management’s Discussion and Analysis of Financial
Condition and Results of Operations section discusses our financial statements,
which have been prepared in accordance with accounting principles generally
accepted in the United States of America. The preparation of these financial
statements requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. On an on-going basis, management evaluates its estimates and
judgments, including those related to revenue recognition, accrued expenses,
financing operations, and contingencies and litigation. Management bases its
estimates and judgments on historical experience and on various other factors
that are believed to be reasonable under the circumstances, the results of which
form the basis for making judgments about the carrying value of assets and
liabilities that are not readily apparent from other sources. Actual results may
differ from these estimates under different assumptions or conditions. The most
significant accounting estimates inherent in the preparation of our financial
statements include estimates as to the appropriate carrying value of certain
assets and liabilities which are not readily apparent from other
sources.
 
 The
following discussion of our financial condition and results of operations should
be read in conjunction with our audited financial statements for the period from
October 31, 2006 (inception) to December 31, 2007, together with notes thereto
as previously filed with our Annual Report on Form 10-KSB.  In
addition, these accounting policies are described at relevant sections in this
discussion and analysis and in the notes to the financial statements included in
our Quarterly Report on Form 10-Q for the period ended June 30,
2008.
 
 We are a
full service video production and media relations company that specializes in
providing customized video production services, public relations services and
copy editing services to businesses.  We believe that, based on our
management’s experience, that we will be able to understand our clients’ needs
and tailor video production services, public relations services and copy editing
services to satisfy our clients’ business requirements. We intend to market our
services in the Las Vegas area by means of personal contacts of our management
as well as targeting businesses that visit Las Vegas for various industry
conventions. As Las Vegas hosts several large conventions throughout the year,
we believe those conventions provide a large population of potential clients who
need that services that we offer.
  12
 
 Liquidity and Capital
Resources.We had cash of $20,172 and prepaid expenses of $417 as
of June 30, 2008, which equals our total current assets of $20,589 as of that
date. Our total assets of $23,061 as of June 30, 2008, included our current
assets of $20,589, and property and equipment of $2,472 net of $584 accumulated
depreciation.
 
 Our
current liabilities were $72,624 as of June 30, 2008, which was represented by
accounts payable of $50,624 and a loan of $22,000 from Gary Prager, our officer,
principal shareholder and one of our directors.  The note bears
interest at 8% and is due upon demand, no later than December 28,
2007.  The loan agreement was amended to extend the due date of the
loan to December 28, 2008.  Mr. Prager advanced those funds to us for
working capital.  We had no other liabilities and no long term
commitments or contingencies as of June 30, 2008.
 
 In
November 2006, we sold 2,000,000 shares of our common stock to Brittany Prager
and 2,000,000 shares of our common stock to Gary Prager, who were our founders
and were our officers and directors at inception. These shares were issued in
exchange for cash of $4,000.
 
 We filed
a Registration Statement on Form SB-2 to sell 4,000,000 shares of our common
stock at a purchase price of $0.10 per share in a direct public offering. The
Registration Statement on Form SB-2 became effective in March 2007. On June 30,
2007, we issued 315,500 shares of our common stock to unrelated investors for
cash of $31,550 pursuant to our Registration Statement on Form SB-2. On July 23,
2007, we issued 200,000 shares of our common stock to unrelated investors for
cash of $20,000 pursuant to our Registration Statement on Form SB-2. We have
begun to use those proceeds for working capital.
  During
2008, we expect that the legal and accounting costs of being a public company
will continue to impact our liquidity and we may need to obtain funds to pay
those expenses. Other than the anticipated increases in legal and accounting
costs due to the reporting requirements of being a reporting company, we are not
aware of any other known trends, events or uncertainties, which may affect our
future liquidity.
 
 For the three months ended
June 30, 2008 as compared to the three months ended on June 30,
2007.
 
 Results
of Operations.
 
 Revenues. We had no revenues
for the three months ended June 30, 2008, as compared to no revenues generated
during the three months ended June 30, 2007.  We hope to generate
greater revenues as continue operations and implement our business
plan.
  Operating Expenses.For the
three months ended June 30, 2008, our total operating expenses were $11,395, as
compared to $15,660 total operating expenses for the three months ended on June
30, 2007. The decrease
in total operating expenses is primarily due to the decrease in professional
fees. For the three months ended June 30, 2008, we had legal and professional
expenses of $10,512, and other general and administrative expenses of $883. In
comparison, for the three months ended on June 30, 2007, we had legal and
professional expenses of $14,602 and general and administrative expenses of
$1,896.  The greater amount of legal and profession expenses for the
three months ended on June 30, 2007, were due to fees incurred from preparing
our Registration Statement on Form SB-2 which was filed in March
2007.
 
 Net Income or
Loss.For the three months ended June 30, 2008, our net
operating loss was $11,835 after interest expense of $440.  This is in
comparison to the three months ended on June 30, 2007, where our net operating
loss was $16,100 after interest expense of $440.  The decrease in our
net loss between the two periods was due to the lower professional fees incurred
for the three months ended on June 30, 2008, as discussed above.
 
 For the six months ended
June 30, 2008 as compared to the six months ended on June 30,
2007.
 
 Results
of Operations.
 
 Revenues. We had no revenues
for the six months ended June 30, 2008, as compared to $403 in revenues
generated during the six months ended June 30, 2007.  We hope to
generate greater revenues as continue operations and implement our business
plan.
  13
 
 Operating Expenses.For the
six months ended June 30, 2008, our total operating expenses were $28,193, as
compared to $28,672 total operating expenses for the six months ended on June
30, 2007. A significant portion of our total operating expenses is primarily due
to the professional fees, which is attributed to the increased legal expenses
and accounting expenses related to being a public company. We expect that we
will continue to incur such expenses. For the six months ended June 30, 2008, we
had legal and professional expenses of $26,123, and other general and
administrative expenses of $2,070. In comparison, for the six months ended on
June 30, 2007, we had legal and professional expenses of $26,176 and general and
administrative expenses of $2,496.
 
 Net Income or
Loss.For the six months ended June 30, 2008, our net
operating loss was $29,073 after interest expense of $880.  This is in
comparison to the six months ended on June 30, 2007, where our net operating
loss was $29,149 after interest expense of $880.
 
 Our Plan of Operation for the Next
Twelve Months.   During 2007, we raised $51,550 pursuant
to our Registration Statement on Form SB-2. We have used some of those proceeds
for working capital. We had hoped to use some of the proceeds to begin marketing
and promoting our services as well as conducting market research but we have
been unable to conduct marketing activities.  Over the last twelve
months, our ability to market our services has been significantly hindered due
to the pregnancy of Brittany Prager, our president, secretary and a director,
and subsequent birth of her child. We may need to hire a sales and marketing
representative and, therefore, we may need to spend more funds on marketing and
promotion than we have initially estimated. Our failure to market and promote
our services will hinder our ability to increase the size of our operations and
generate revenues. If we are not able to generate revenues that cover our
estimated operating costs, our business may ultimately fail.
 
 During
the next three to six months, our primary objective is to begin obtaining
clients so that we generate revenues to support our operations. During the next
six to twelve months, we hope to expand our operations and service several
accounts. We will need to raise additional capital to fund all of our proposed
business activities and fully implement our business plan.
 
 To
effectuate our business plan during the next twelve months, we intend to pursue
accounts by researching and contacting small to medium size companies that
participate in the Las Vegas conventions. We are developing sales and marketing
materials including brochures describing the services that we provide so that we
can provide a professional appearance to potential clients.
 
 We have
cash and cash equivalents of $20,172 as of June 30, 2008.  In the
opinion of management, available funds will not satisfy our working capital
requirements to operate at our current level of activity for the next twelve
months. Our forecast for the period for which our financial resources will be
adequate to support our operations involves risks and uncertainties and actual
results could fail as a result of a number of factors. In order to implement our
business plan in the manner we envision, we will need to raise additional
capital in addition to the funds that we recently raised.  We cannot
guaranty that we will be able to raise additional funds. Moreover, in the event
that we can raise additional funds, we cannot guaranty that additional funding
will be available on favorable terms. In the event that we experience a
shortfall in our capital, we hope that our officers, directors and principal
shareholders will contribute funds to pay for our expenses to achieve our
objectives over the next twelve months.
 
 To date,
we have experienced significant difficulties in generating revenues and raising
additional capital.  We believe our inability to raise significant
additional capital through debt or equity financings is due to various factors,
including, but not limited to, a tightening in the equity and credit markets. We
had hoped to expand our operations during the last six months. However, our
ability to commence and expand operations has been negatively affected by our
inability to raise significant capital and our inability to generate significant
revenues. As a result of those difficulties, we intend to explore acquiring
smaller companies with complementary businesses. Accordingly, over the next six
months, we intend to research potential opportunities for us to acquire smaller
companies with complementary businesses to our business and other companies that
may be interested in being acquired by us or entering into a joint venture
agreement with us. As of the date of this report, we have not identified any
potential acquisition or joint venture candidates. We cannot guaranty that we
will acquire or enter into any joint venture with any third party, or that in
the event that we acquire another entity, this acquisition will increase the
value of our common stock. We hope to use our common stock as payment for any
potential acquisitions.
  We are
not currently conducting any research and development activities.  We
do not anticipate conducting such activities in the near future. In the event
that we expand our customer base, then we may need to hire additional employees
or independent contractors as well as purchase or lease additional equipment.
Our management believes that we do not require the services of independent
contractors to operate at our current level of activity.  However, if
our level of operations increases beyond the level that our current staff can
provide, then we may need to supplement our staff in this manner.
 
 Because
we have limited operations and assets, we may be considered a shell company as
defined in Rule 12b-2 of the Securities Exchange Act of 1934. Accordingly, we
have checked the box on the cover page of this report that specifies we are a
shell company.
  14
 
 Off-Balance Sheet Arrangements.We have no off-balance sheet arrangements.
 
 Item 3. Quantitative and
Qualitative Disclosures about Market Risk
  Not
applicable.
  Item 4. Controls and
Procedures
 
 Evaluation of disclosure controls and
procedures. We maintain controls and procedures designed to ensure that
information required to be disclosed in the reports that we file or submit under
the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported within the time periods specified in the rules and forms of the
Securities and Exchange Commission. Based upon their evaluation of those
controls and procedures performed as of June 30, 2008, the date of this report,
our chief executive officer and the principal financial officer concluded that
our disclosure controls and procedures were effective.
 
 Item 4(T). Controls and
Procedures.
 
 Changes in internal controls.There were no changes in our internal control over financial reporting
that occurred during the fiscal quarter covered by this report that have
materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.
 
 
 PART
II — OTHER INFORMATION
 
 Item 1. Legal
Proceedings.
 
 None.
 
 Item 1A. Risk
Factors.
 
 Not
applicable.
 
 Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds.
 
 None.
 
 Item 3.  Defaults
Upon Senior Securities
 
 None.
 
 Item
4.  Submission of Matters to Vote of Security
Holders
 
 None.
  Item 5.  Other
Information
 
 None.
 
 Item
6.  Exhibits
  31. Rule 13a-14(a)/15d-14(a) Certifications.
 32.
Section 1350 Certifications.
  15
  SIGNATURES
 
 In
accordance with the requirements of the Securities Exchange Act of 1934, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
  BLS
      Media, Inc.,
                      a
      Nevada corporationAugust
      14, 2008
                    By:
                    /s/ Brittany
      PragerBrittany
      Prager
                      Principal Executive Officer,
                      President and a Director
  August
      14, 2008
                      By:
                      /s/
      Gary PragerGary
      Prager
                        Principal Accounting Officer,
                        Chief
      Financial Officer