----

**U.S.      SECURITIES AND EXCHANGE COMMISSION **

**FORM      10-QSB**

**x      **
**QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934      **

**o      **
**TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934      **

*Commission      file number 001-10196 *

**STUDIO      ONE MEDIA, INC. **

|                  DELAWARE                                                       |                  23-2517953                              |
|--------------------------------------------------------------------------------------|---------------------------------------------------------------|
|                  (State or other jurisdiction of incorporation or organization) |                  (IRS Employer  Identification No.) |

----

|                          | **STUDIO                ONE MEDIA, INC.**                                                                                                                                                   |                             |
|-------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------|
|                          |                                                                                                                                                                                        |                             |
|                          |                  **INDEX**                                                                                                                                                             |  PAGE                NUMBER |
|                          |                  **PART                1 - FINANCIALS**                                                                                                                                |                             |
|                          |                                                                                                                                                                                        |                             |
|                  Item 1. |  Financial                Statements (Unaudited)                                                                                                                                       |  3                          |
|                          |                                                                                                                                                                                        |                             |
|                          |  Balance                Sheet - March 31, 2007 and June 30, 2006                                                                                                                       |  3                          |
|                          |                                                                                                                                                                                        |                             |
|                          | Statement                of Operations - For the three and nine months ended March 31, 2007                and                2006, and cumulative from July 1, 2002 through March 31, 2007 |  4                          |
|                          |                                                                                                                                                                                        |                             |
|                          |  Statement              of              Operations - For the three and nine months ended March 31, 2007 and              2006                                                          |  5                          |
|                          |                                                                                                                                                                                        |                             |
|                          | Statements                of Stockholders’ Deficiency - For the year ended June 30, 2002, 2003,                2004, 2005 and 2006 and the nine months ended March 31, 2007           |  6                          |
|                          |                                                                                                                                                                                        |                             |
|                          | Statement                of Cash Flows - For the nine months ended March 31, 2007 and 2006,                and                cumulative from July 1, 2002 through March 31, 2007           |  7                          |
|                          |                                                                                                                                                                                        |                             |
|                          | Notes                to Financial Statements                                                                                                                                                |  8                          |
|                          |                                                                                                                                                                                        |                             |
|  Item                2.  | Management’s                Discussion and Analysis of Financial Condition and Results of Operations                                                                                  |  16                         |
|                          |                                                                                                                                                                                        |                             |
|  Item                3.  | Controls                and Procedures                                                                                                                                                      |  17                         |
|                          |                                                                                                                                                                                        |                             |
|                          | **PART                II - OTHER INFORMATION**                                                                                                                                              |                             |
|                          |                                                                                                                                                                                        |                             |
|                  Item 1. | Legal                Proceedings                                                                                                                                                            |  18                         |
|                          |                                                                                                                                                                                        |                             |
|  Item                2.  | Changes                in Securities                                                                                                                                                        |  18                         |
|                          |                                                                                                                                                                                        |                             |
|  Item                3.  | Defaults                Upon Senior Securities                                                                                                                                              |  18                         |
|                          |                                                                                                                                                                                        |                             |
|  Item                4.  | Submission                of Matters to a Vote of Security Holders                                                                                                                          |  18                         |
|                          |                                                                                                                                                                                        |                             |
|  Item                5.  | Other                Information                                                                                                                                                            |  19                         |
|                          |                                                                                                                                                                                        |                             |
|                  Item 6. | Exhibits                                                                                                                                                                                    |  19                         |
|                          |                                                                                                                                                                                        |                             |
|                          | SIGNATURES                                                                                                                                                                                  |   19                   |
|                          |                                                                                                                                                                                        |                             |

----

**PART      I - FINANCIAL INFORMATION **

**ITEM      1. FINANCIAL STATEMENTS**

|  STUDIO                  ONE MEDIA, INC.               |
|------------------------------------------------------------------------------------------------|
|  (A                  development Stage Company)        |
|                                                                                      |   |   |   |   |   |   |
|  BALANCE                  SHEET                                                           |
|                                                                                           |   |   |   |   |   |   |   |
|                                                                                           |   |   | March                  31,  |   |   | June                  30, |   |
|                                                                                           |   |   | 2007 |   |   | 2006 |   |
|                                                                                           |   |   | (Unaudited)  |   |   | (Audited) |   |
|                                                                                           |   |   |   |   |   |   |   |
| ASSETS                                                                                         |   |   |   |   |   |   |   |
|                                                                                           |   |   |   |   |   |   |   |
| Current                  Assets                                                                |   |   |   |   |   |   |   |
| Cash                                                                                           |   | $ | 59,406 |   | $ | 207 |   |
| Accrued                  Interest Receivable                                                   |   |   | 87,323 |   |   | 57,295 |   |
| Other                  Receivables                                                             |   |   | 7,788 |   |   | - |   |
| Notes                  Receivable-Current                                                      |   |   | 436,404 |   |   | 430,404 |   |
| Investments                  - Securities                                                      |   |   | 227,750 |   |   | 94,000 |   |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Current Assets                                                          |   |   | 818,671 |   |   | 581,906 |   |
|                                                                                           |   |   |   |   |   |   |   |
| Property                  and Equipment, Net                                                   |   |   | 93,862 |   |   | - |   |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Property and Equipment                                                  |   |   | 93,862 |   |   | - |   |
|                                                                                           |   |   |   |   |   |   |   |
| Other                  Assets                                                                  |   |   |   |   |   |   |   |
| Deposits                                                                                       |   |   | 6,400 |   |   | 6,400 |   |
| Other                  Assets                                                                  |   |   | 104,139 |   |   | - |   |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Other Assets                                                            |   |   | 110,539 |   |   | 6,400 |   |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Assets                                                                  |   | $ | 1,023,072 |   | $ | 588,306 |   |
|                                                                                           |   |   |   |   |   |   |   |
|                                                                                           |   |   |   |   |   |   |   |
| LIABILITIES                  AND STOCKHOLDERS' EQUITY (DEFICIT)                                |   |   |   |   |   |   |   |
|                                                                                           |   |   |   |   |   |   |   |
| Current                  Liabilities                                                           |   |   |   |   |   |   |   |
| Accounts                  Payable and Accrued Expenses                                         |   | $ | 77,645 |   | $ | 352,058 |   |
| Notes                  Payable - Current                                                       |   |   | 127,348 |   |   | 726,468 |   |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Current Liabilities                                                     |   |   | 204,993 |   |   | 1,078,526 |   |
|                                                                                           |   |   |   |   |   |   |   |
| Long-Term                  Liabilities                                                         |   |   | - |   |   | - |   |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Liabilities                                                             |   |   | 204,993 |   |   | 1,078,526 |   |
|                                                                                           |   |   |   |   |   |   |   |
| Stockholders'                  Equity (Deficit)                                                |   |   |   |   |   |   |   |
| Preferred                  Stock, authorized 10,000,000 shares, par value $0.001;              |   |   |   |   |   |   |   |
| issued                  and oustanding are 524,044 shares at March 31, 2007                    |   |   |   |   |   |   |   |
| and                  June 30, 2006, respectively                                               |   |   | 524 |   |   | 524 |   |
| Common                  Stock, authorized 100,000,000 shares, par value $0.001;                |   |   |   |   |   |   |   |
| issued                  and outstanding are 3,642,370 and 2,791,324 shares at                  |   |   |   |   |   |   |   |
| March                  31, 2007 and June 30, 2006, respectively                                |   |   | 3,642 |   |   | 2,779 |   |
| Additional                  Paid in Capital                                                    |   |   | 26,975,183 |   |   | 24,351,850 |   |
| Accumulated                  Deficit - Pre Development Stage                                   |   |   | (24,404,453 | ) |   | (24,404,302 | ) |
| Accumulated                  Deficit - Development Stage                                       |   |   | (1,756,817 | ) |   | (441,071 | ) |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Stockholders' Equity (Deficit)                                          |   |   | 818,079 |   |   | (490,220 | ) |
|                                                                                           |   |   |   |   |   |   |   |
| Total                  Liabilities and Stockholders' Equity (Deficit)                          |   | $ | 1,023,072 |   | $ | 588,306 |   |
|                                                                                           |   |   |   |   |   |   |   |

----

|        |
|--------------------------------------|
|                                 |

|  STUDIO                  ONE MEDIA, INC.                      |
|------------------------------------------------------------------------------|
|   (A                  development Stage Company)    |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
|  STATEMENT                  OF OPERATIONS                               |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
|                                                                         |   |   |   |   |   |   |   |   | Cumulative  |   |
|                                                                         |   |   |   |   |   |   |   |   | July                  1, 2002  |   |
|                                                                         |   |   | Nine                  Months Ended  |   |   | through |   |
|                                                                         |   |   | March                  31  |   |   | March                  31 |   |
|                                                                         |   |   | 2007 |   |   | 2006 |   |   | 2007 |   |
|                                                                         |   |   | (Unaudited)  |   |   | (Unaudited) |   |   | (Unaudited) |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Revenues                                                                     |   |   |   |   |   |   |   |   |   |   |
| Sales                                                                        |   | $ | - |   | $ | - |   | $ | - |   |
| Cost                  of Sales                                               |   |   | - |   |   | - |   |   | - |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Gross                  Profit                                                |   |   | - |   |   | - |   |   | - |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Operating                  Expenses                                          |   |   |   |   |   |   |   |   |   |   |
| General                  and Administrative Expenses                         |   |   | 1,044,648 |   |   | 136,153 |   |   | 1,583,731 |   |
| Research                  and Development                                    |   |   | 287,422 |   |   | 0 |   |   | 287,422 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Total                  Operating Expenses                                    |   |   | 1,332,070 |   |   | 136,153 |   |   | 2,168,527 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Loss                  from Operations                                        |   |   | 1,332,070 |   |   | 136,153 |   |   | 2,168,527 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Other                  Income (Expense)                                      |   |   |   |   |   |   |   |   |   |   |
| Interest                  Expense                                            |   |   | (21,971 | ) |   | (50,969 | ) |   | (297,374 | ) |
| Interest                  Income                                             |   |   | 30,027 |   |   | - |   |   | 30,027 |   |
| Gain                  on Extinguishment of Indebtedness                      |   |   | 8,267 |   |   | - |   |   | 381,683 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Total                  Other Income (Expense)                                |   |   | 16,323 |   |   | (50,969 | ) |   | 114,336 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                                    |   | $ | (1,315,747 | ) | $ | (136,153 | ) | $ | (1,756,817 | ) |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
| Basic                  Loss Per Share of Common Stock                        |   | $ | (0.43 | ) | $ | (0.07 | ) |   |   |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |
|  Weighted                Average Number of Shares                       |   |   | 3,065,563  |   |   | 1,113,177  |   |   |   |   |

----

|   |
|--------|
|   |

|   STUDIO                  ONE MEDIA, INC.                      |
|------------------------------------------------------------------------------------|
|    (A                  development Stage Company)    |
|                                                                               |   |   |   |   |   |   |   |
|  STATEMENT                  OF OPERATIONS                                     |
|                                                                               |   |   |   |   |   |   |   |
|                                                                               |   |   |   |   |   |   |   |
|                                                                               |   |   | Three                  Months Ended  |   |
|                                                                               |   |   | March                  31  |   |
|                                                                               |   |   | 2007 |   |   | 2006 |   |
|                                                                               |   |   | (Unaudited)  |   |   | (Unaudited) |   |
|                                                                               |   |   |   |   |   |   |   |
| Revenues                                                                           |   |   |   |   |   |   |   |
| Sales                                                                              |   | $ | - |   | $ | - |   |
| Cost                  of Sales                                                     |   |   | - |   |   | - |   |
|                                                                               |   |   |   |   |   |   |   |
| Gross                  Profit                                                      |   |   | - |   |   | - |   |
|                                                                               |   |   |   |   |   |   |   |
| Operating                  Expenses                                                |   |   |   |   |   |   |   |
| General                  and Administrative Expenses                               |   |   | 330,854 |   |   | 124,903 |   |
| Research                  and Development                                          |   |   | 115,170 |   |   | - |   |
|                                                                               |   |   |   |   |   |   |   |
| Total                  Expenses                                                    |   |   | 446,024 |   |   | 124,903 |   |
|                                                                               |   |   |   |   |   |   |   |
| Loss                  from Operations                                              |   |   | 446,024 |   |   | 124,903 |   |
|                                                                               |   |   |   |   |   |   |   |
| Other                  Income (Expense)                                            |   |   |   |   |   |   |   |
| Interest                  Expense                                                  |   |   | (1,304 | ) |   | (16,989 | ) |
| Interest                  Income                                                   |   |   | 9,863 |   |   | - |   |
|                                                                               |   |   |   |   |   |   |   |
| Total                  Other Income (Expense)                                      |   |   | 8,559 |   |   | (16,989 | ) |
|                                                                               |   |   |   |   |   |   |   |
| Net                  Loss                                                          |   | $ | (437,464 | ) | $ | (124,903 | ) |
|                                                                               |   |   |   |   |   |   |   |
| Basic                  Loss Per Share of Common Stock                              |   | $ | (0.13 | ) | $ | (0.11 | ) |
|                                                                               |   |   |   |   |   |   |   |
| Weighted                  Average Number of Shares                                 |   |   | 3,400,674 |   |   | 1,113,177 |   |

----

| **STUDIO                  ONE MEDIA, INC.**                                                                                                                                         |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **(A                  DevelpmentStage Company)**                                                                                                                                    |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **STATEMENTS                  OF STOCKHOLDERS' EQUITY**                                                                                                                             |
| **Nine                  Months Ended March 31, 2007 and Years Ended June 30, 2006, 2005,                  2004 and                  2003**                                          |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Accumulated  |   |   | Accumulated |   |   |   |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Deficit  |   |   | Deficit |   |   |   |   |
|                                                                                                                                                                                |   |   | Preferred                  Stock  |   |   | Common                  Stock |   |   | Paid                  In |   |   | Pre-Development |   |   | Development |   |   | Total |   |
|                                                                                                                                                                                |   |   | Shares  |   |   | Amount |   |   | Shares |   |   | Amount |   |   | Capital |   |   | Stage |   |   | Stage |   |   | Equity |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2002                                                                                                                                             |   |   | 524,044 |   |   | 524 |   |   | 1,065,984 |   |   | 1,066 |   |   | 23,343,180 |   |   | (24,404,302 | ) |   | 0 |   |   | (1,059,532 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares surrendered                                                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and                  cancelled                                                                                                                                                      |   |   |   |   |   |   |   |   | (36,458 | ) |   | (36 | ) |   | 36 |   |   |   |   |   |   |   |   | 0 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0 |   |   | (118,808 | ) |   | (118,808 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2003                                                                                                                                             |   |   | 524,044 |   |   | 524 |   |   | 1,029,526 |   |   | 1,030 |   |   | 23,343,216 |   |   | (24,404,302 | ) |   | (118,808 | ) |   | (1,178,340 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for                  services                                                                                                                                                       |   |   |   |   |   |   |   |   | 29,000 |   |   | 29 |   |   | 21,721 |   |   |   |   |   |   |   |   | 21,750 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0 |   |   | (107,613 | ) |   | (107,613 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2004                                                                                                                                             |   |   | 524,044 |   |   | 524 |   |   | 1,058,526 |   |   | 1,059 |   |   | 23,364,937 |   |   | (24,404,302 | ) |   | (226,421 | ) |   | (1,264,203 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for                  services                                                                                                                                                       |   |   |   |   |   |   |   |   | 65,000 |   |   | 65 |   |   | 48,685 |   |   |   |   |   |   |   |   | 48,750 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 0 |   |   | (106,677 | ) |   | (106,677 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2005                                                                                                                                             |   |   | 524,044 |   |   | 524 |   |   | 1,123,526 |   |   | 1,124 |   |   | 23,413,622 |   |   | (24,404,302 | ) |   | (333,098 | ) |   | (1,322,130 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for                  services                                                                                                                                                       |   |   |   |   |   |   |   |   | 300,000 |   |   | 300 |   |   | 332,200 |   |   |   |   |   |   |   |   | 332,500 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued in                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| purchase                  of promissory notes                                                                                                                                       |   |   |   |   |   |   |   |   | 839,227 |   |   | 839 |   |   | 313,274 |   |   |   |   |   |   |   |   | 314,113 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued in                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| purchase                  of securities                                                                                                                                             |   |   |   |   |   |   |   |   | 50,000 |   |   | 50 |   |   | 93,950 |   |   |   |   |   |   |   |   | 94,000 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued for cash                                                                                                                                      |   |   |   |   |   |   |   |   | 478,571 |   |   | 479 |   |   | 198,521 |   |   |   |   |   |   |   |   | 199,000 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (107,973 | ) |   | (107,973 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  June 30, 2006                                                                                                                                             |   |   | 524,044 |   |   | 524 |   |   | 2,791,324 |   |   | 2,792 |   |   | 24,351,567 |   |   | (24,404,302 | ) |   | (441,071 | ) |   | (490,490 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for                  services                                                                                                                                                       |   |   |   |   |   |   |   |   | 208,552 |   |   | 209 |   |   | 730,298 |   |   |   |   |   |   |   |   | 730,507 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued for cash                                                                                                                                      |   |   |   |   |   |   |   |   | 454,666 |   |   | 454 |   |   | 834,045 |   |   |   |   |   |   |   |   | 834,499 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares for assets                                                                                                                                           |   |   |   |   |   |   |   |   | 25,000 |   |   | 25 |   |   | 133,725 |   |   |   |   |   |   |   |   | 133,750 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  Shares issued in                                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Satisfaction                  of Debt                                                                                                                                               |   |   |   |   |   |   |   |   | 162,828 |   |   | 162 |   |   | 925,548 |   |   |   |   |   |   |   |   | 925,710 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                                                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (1,315,747 | ) |   | (1,315,747 | ) |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  March 31, 2007                                                                                                                                            |   |   | 524,044 |   |   | 524 |   |   | 3,642,370 |   |   | 3,642 |   |   | 26,975,183 |   |   | (24,404,302 | ) |   | (1,756,818 | ) |   | 818,229 |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| On                  May 6, 2004 the company executed a 60:1 reverse stock split of                  its common                  shares.  The effect of this split has          |   |   |   |   |   |   |   |   |   |
|      been                  retroactively applied to this statement along with a 6,608 share                  adjustment for transfer agent rounding error. |   |   |   |   |   |   |   |
|                                                                                                                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The                  accompanying notes are an integral part of these financial                  statements.                                                                        |

----

| **STUDIO                  ONE MEDIA, INC.**                     |
|-----------------------------------------------------------------|
| **(A                  Development Stage Company)**              |
|                                                            |   |   |   |   |   |   |   |   |   |
| **STATEMENTS                  OF CASH FLOWS**                   |
|                                                            |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |   |   | **Cumulative**  |   |
|                                                            |   |   | **Nine                  Months Ended**  |   |   | **Nine                  Months Ended** |   |   | **July                  1, 2002 through** |   |
|                                                            |   |   | **March                  31, 2007**  |   |   | **March                  31, 2006** |   |   | **March                  31, 2007** |   |
|                                                            |   |   | **(Unaudited)**  |   |   | **(Unaudted)** |   |   | **(Unaudited)** |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| *Cash                  Flows From Operating Activities*         |   |   |   |   |   |   |   |   |   |   |
| Net                  Loss                                       |   | $ | (1,315,747 | ) | $ | (187,122 | ) | $ | (1,756,817 | ) |
| Adjustments                  to reconcile to cash from          |   |   |   |   |   |   |   |   |   |   |
| operating                  activities:                          |   |   |   |   |   |   |   |   |   |   |
| Depreciation/Amortization                                       |   |   | 4,177 |   |   | - |   |   | 4,177 |   |
| Changes                  in Operating Assets & Liabilities: |   |   |   |   |   |   |   |   |   |   |
| Accrued                  Interest Receivable                    |   |   | (30,027 | ) |   | - |   |   | (87,323 | ) |
| Notes                  Receivable                               |   |   | (6,000 | ) |   | - |   |   | (436,404 | ) |
| Other                  Receivables                              |   |   | (7,788 | ) |   | - |   |   | (7,788 | ) |
| Investments                  - Securities                       |   |   | (133,750 | ) |   | - |   |   | (227,750 | ) |
| Deposits                                                        |   |   | - |   |   | - |   |   | (6,400 | ) |
| Accounts                  Payable                               |   |   | 25,362 |   |   | 136,153 |   |   | (308,991 | ) |
| Accrued                  Interest Payable                       |   |   | (304,486 | ) |   | 50,969 |   |   | (29,083 | ) |
| Other                  Payables                                 |   |   | 4,561 |   |   | - |   |   | (11,511 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| Net                  Cash Used in Operating Activities          |   |   | (1,763,698 | ) |   | - |   |   | (2,867,890 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| *Cash                  Flows from Investing Activities*         |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |  |   |   |  |   |   |  |   |
| Purchase                  of Other Assets                       |   |   | (202,178 | ) |   | - |   |   | (202,178 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| Net                  Cash Used in Investing Activities          |   |   | (202,178 | ) |   | - |   |   | (202,178 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| *Cash                  Flows from Financing Activities*         |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |  |   |   |  |   |   |  |   |
| Issuance                  of Common Stock                       |   |   | 2,624,196 |   |   | - |   |   | 3,634,646 |   |
| Repayment                  of Notes Payable                     |   |   | (599,120 | ) |   | - |   |   | (505,172 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| Net                  Cash from Financing Activities             |   |   | 2,025,076 |   |   | - |   |   | 3,129,474 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| Net                  Increase (Decrease) in Cash                |   |   | 59,200 |   |   | - |   |   | 59,406 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| Cash,                  Beginning of Period                      |   |   | 206 |   |   | - |   |   | - |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |
| Cash,                  End of Period                            |   | $ | 59,406 |   | $ | - |   | $ | 59,406 |   |

----

**STUDIO            ONE MEDIA, INC. **

**NOTES            TO FINANCIAL STATEMENTS**

**NINE            MONTHS ENDED MARCH 31, 2007 AND 2006**

         

**Note      1: Summary of Significant Accounting Policies **

**DESCRIPTION      OF BUSINESS, FINANCING AND BASIS OF FINANCIAL STATEMENT PRESENTATION**

**LIQUIDITY      AND CAPITAL RESOURCES **

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note      1: Summary of Significant Accounting Policies - continued**

**INCOME      TAXES **

**LOSS      PER SHARE **

**USE      OF ESTIMATES **

**STOCK-BASED      COMPENSATION **

**Note      2: Accounts Payable, Accrued Expenses **

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note      2: Accounts Payable, Accrued Expenses -  continued**

|                                                  |   |   | 3-31-07 |   |   | 3-31-06 |   |
|-------------------------------------------------------|--------|--------|---------|--------|--------|---------|--------|
|                  Accounts                Payable |   | $      | 75,326  |   | $      | 45,617  |   |
|                  Accrued                Interest |   |   | 2,319   |   |   | 290,369 |   |
|                  Salaries                        |   |   | 0       |   |   | 16,072  |   |
|                  Total                           |   | $      | 77,645  |   | $      | 352,058 |   |

**Note      3: Short-Term Borrowings **

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note      3: Short-Term Borrowings - continued**

|                                                        |   |   | Rates                  |   |    | 3-31-07 |   |          | 3-31-06 |   |
|-------------------------------------------------------------|--------|--------|-----------------------------|--------|---------|---------|--------|---------------|---------|--------|
|                  Investor                Group         |   |   | 10                %    |   |  $ | 0       |   |  $  | 493,201 |   |
|                  Convertible                Debentures |   |   | 14                %    |   |    | 25,000  |   |          | 45,000  |   |
|                  Secured                Note           |   |   | 12                %    |   |    | 0       |   |          | 180,000 |   |
|                  Individual                            |   |   |                        |   |    | 102,348 |   |          | 8,267   |   |
|                  Total                                 |   |   |                        |   | $       | 127,348 |   | $             | 726,468 |   |

**Note      4: Commitments and Contingencies **

**Note      5: Common Stock **

       

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note      6: Preferred Stock**

|                                 |   |   | Allocated  |   |   | Outstanding |
|--------------------------------------|--------|--------|-----------------|--------|--------|-------------|
| Series                A Preferred    |   |   | 100,000         |   |   | 15,500      |
| Series                B Preferred    |   |   | 200,000         |   |   | 3,500       |
| Series                C Preferred    |   |   | 1,000,000       |   |   | 13,404      |
| Series                D Preferred    |   |   | 375,000         |   |   | 130,000     |
| Series                E Preferred    |   |   | 375,000         |   |   | 275,000     |
| Series                P Preferred    |   |   | 600,000         |   |   | 86,640      |
| Total                Preferred Stock |   |   | 2,650,000       |   |   | 524,044     |

**Note      7: Stock Option Plan and Equity Incentive Plan **

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note      7: Stock Option Plan and Equity Incentive Plan  -      continued**

The      Plan      has now expired. 

**Note      8: Income Taxes**

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note      8: Income Taxes**
**continued**

|                  Deferred tax assets:                                        |   |   |       |   |
|-----------------------------------------------------------------------------------|--------|--------|------------|--------|
|                        Goodwill                          |   | $      | 173,000    |   |
|                        Net operating loss carry forwards |   |   | 26,161,270 |   |
|                                                                              |   |   | 26,334,270 |   |
|                                                                              |   |   |       |   |
|                  Net deferred tax asset                                      |   |   | 9,329,445  |   |
|                  Valuation allowance                                         |   |   | (9,329,445 | )      |
|                                                                              |   |   |       |   |
| Net                deferred tax asset reported                                    |   | $      | --         |   |

**Note       9.  The Effect of Recent Account Standards **

**Statement      No. 150 Accounting for Certain Financial Instruments with Characteristics of      both Liabilities and Equity (Issued 5/03) **

**Statement      No. 151 Inventory Costs-an amendment of ARB No. 43, Chapter 4 (Issued 11/04)      **

*Inventory      Pricing *

**Statement      No. 153 Exchanges of Non-monetary Assets (an amendment of APB Opinion No. 29)      **

*Accounting      for Non-monetary Transactions *

----

**STUDIO        ONE MEDIA, INC. **

**NOTES        TO FINANCIAL STATEMENTS**

**NINE        MONTHS ENDED MARCH 31, 2007 AND 2006**

**Note       9.  The Effect of Recent Account Standards -      continued**

|   | **•** | increased                competitive pressures from existing competitors and new entrants; |
|--------|-------------|--------------------------------------------------------------------------------------------|

|   | **•** | increases                in interest rates or our cost of borrowing or a default under any                material                debt agreements; |
|--------|-------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **•** | deterioration                in general or regional economic conditions; |
|--------|-------------|--------------------------------------------------------------------------|

|   | **•** | adverse                state or federal legislation or regulation that increases the costs                of                compliance, or adverse findings by a regulator with respect to existing                operations; |
|--------|-------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **•** | inability                to achieve future sales levels or other operating results; |
|--------|-------------|-------------------------------------------------------------------------------------|

|   | **•** | Unavailability                of funds for capital expenditures and/or general working capital;                and |
|--------|-------------|--------------------------------------------------------------------------------------------------------------------|

|   | **•** | operational                inefficiencies in distribution or other systems. |
|--------|-------------|-----------------------------------------------------------------------------|

----

**ITEM      2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS      OF      OPERATIONS **

**NINE      MONTHS ENDED MARCH 31, 2007 AND 2006 **

**OVERVIEW      **

**RESULTS      OF OPERATIONS **

----

**ITEM      2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS      OF      OPERATIONS  - continued**

**LIQUIDITY      AND CAPITAL RESOURCES **

In      addition, we received approximately $102,000 in short term loans from a      shareholder to enable us to continue to investigate the business plan of and      to      pursue the acquisition of Studio One Entertainment, Inc. 

**ITEM      3. CONTROLS AND PROCEDURES**

----

**PART      II - OTHER INFORMATION **

**ITEM      1. LEGAL PROCEEDINGS**

**ITEM      2. CHANGES IN SECURITIES AND USE OF PROCEEDS**

**ITEM      3. DEFAULTS UPON SENIOR SECURITIES**

**ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**

|  | (a) | On                May 6, 2004, the Registrant (f/k/a Dimensional Visions Incorporated)                filed                a Certificate of Amendment of Certificate of Incorporation with the                Secretary of State for the State of Delaware. The number of shares                common                stock of the Registrant outstanding and entitled to vote on an amendment                to the Articles of Incorporation was 61,771,510. The May 6, 2004                amendment                was consented to and approved by a majority vote of the stockholders                holding a majority of the stock entitled to vote thereon. The amendment                authorized the Registrant to reverse its issued and outstanding shares,                giving one (1) new share for each sixty (60) existing shares issued                and                outstanding. The Registrant now has 3,642,370 post-reverse shares                outstanding.   |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | On                April 17, 2007, the Company announced that it had finalized the purchase                of Studio One Entertainment, Inc., through an all-stock transaction.                The                purchase is pursuant to an agreement entered into by the companies                dated                March 29, 2006. The purchase includes the exchange of 7,000,000 restricted                common shares of Studio One Media, Inc. for 100% of the issued and                outstanding shares of Studio One Entertainment, Inc. The purchase                includes                all right, title and interest to Studio One Entertainment's proprietary                interactive recording studios, business plan and intellectual property,                including pending patents, foreign patent rights and federal trademark                applications. Studio One Entertainment, Inc. will operate as a wholly                owned subsidiary of Studio One Media, Inc. The transaction was approved                by                consent of a majority of the shareholders of Studio One Media, Inc.                and                Studio One Entertainment, Inc. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**ITEM      5. OTHER INFORMATION**

**Change      of Name **

**Subsequent      Events **

**ITEM      6. EXHIBITS**

**NO.      **
**TITLE      **

| 31.1 | Certification                of Chief Executive Officer and of Chief Financial officer pursuant                to the                Securities Exchange Act of 1934, Rules 13a-14 and 15d-14, as adopted                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification                of Chief Executive Officer and of Chief Financial officer pursuant                to 18                U.S.C. Section 1350, as adopted pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002 |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

       

**SIGNATURES**

|                                                     |                                                                           |                                                      |
|----------------------------------------------------------|--------------------------------------------------------------------------------|-----------------------------------------------------------|
|                                                     | **STUDIO                ONE MEDIA, INC.**                                      |
|                                                |                                                                      |                                                 |
| Date:                 *May                15, 2007* | By:                                                                  | /s/                 *Preston                J. Shea* |
|                                                     | *Preston                J. Shea*                                               |
|                                                     | *Financial                officer (Principal Executive and Financial Officer)* |

----