UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
  
 AMENDMENT
NO. 1 TO
  FORM
10-KSB
 
 
 xANNUAL REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934For the fiscal year ended December 31,
2007.
 
 oTRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from to
  Commission
File Number: 000-52512
 
 BLS
Media, Inc.
 (Exact
name of registrant 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)
              (Zip
      Code)
  (702)
      450-2163(Registrant's
      Telephone Number, Including Area
Code)
  Securities
      registered under Section 12(b) of the Act:Title
      of each class registered:
              Name
      of each exchange on which registered:None
              None
  Securities
      registered under Section 12(g) of the Act:Common
      Stock, Par Value $.001
                (Title
      of Class)
  Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. [X ]Yes [  ] No
  Check if
there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [X]
  Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes [X] No [ ]
  State
issuer's revenues for its most recent fiscal year. $403.
  State the
aggregate market value of the voting and non-voting common equity held by
non-affiliates computed by reference to the price at which the common equity was
sold, or the average bid and asked price of such common equity, as of a
specified date within the past 60 days. (See definition of affiliate in Rule
12b-2 of the Exchange Act.) As of March 21, 2008, approximately
$128,875.
 
 State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of the latest practicable date. As of March 21, 2007, there were 4,515,500
shares of the issuer's $.001 par value common stock issued and
outstanding.
 
 Documents
incorporated by reference. There are no annual reports to security holders,
proxy information statements, or any prospectus filed pursuant to Rule 424 of
the Securities Act of 1933 incorporated herein by reference.
 
 Transitional
Small Business Disclosure format (check one):  [  ]
Yes        [ x
]  No
  1
  FORWARD-LOOKING
STATEMENTS
  In
addition to historical information, this report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. The forward-looking
statements are not historical facts but rather are based on current
expectations, estimates and projections about our business and industry, and our
beliefs and assumptions. Words such as “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “plan,” “will” and variations of these words and similar
expressions identify forward-looking statements. These statements are not
guarantees of future performance and are subject to risks, uncertainties and
other factors, many of which are beyond our control, are difficult to predict
and could cause actual results to differ materially from those expressed or
forecasted in the forward-looking statements. These risks and uncertainties
include, but are not limited to, those described in Item 1 “Risk Factors”
and elsewhere in this report. Forward-looking statements that were believed to
be true at the time made may ultimately prove to be incorrect or false. We
undertake no obligation to revise or publicly release the results of any
revision to these forward-looking statements. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements.
 
 PART
I
 
 Item 1. Description of
Business.
 
 Description of
Business
 
 Our Background. We were
incorporated in Nevada on October 31, 2006, as BLS Media, Inc.
 
 Our Business. 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.
  Video
Production Services.We offer full video
production services from concept to finished program.We consult with the
client to define the client’s goals and objectives, plan an approach, and
produce video segments that fit the client’s audience needs.We combine
marketing strategy with visual creativity to produce high quality film or video
productions. We
offer video production services including:
  ·
              Corporate
      Video Services.For
      corporate marketing, we specialize in designing video for internal
      corporate communications. Our unique approach of creating at
      maximizingthe
      ease, use, and impact of the video for the busy
    professional.
 ·
              Performance
      Arts Video Services.For
      artists, we specialize in creating mini-documentaries for broadcast as
      well as use for promotional, funding, and booking uses. The
      mini-documentary format gives artists a chance to tell their story in an
      exciting new way.
 
 We offer
the following pre-production, production, and post-production services to meet
the clients’ specific needs:
 
 ·
              Pre-production.
      During this stage, we become well acquainted with the clients’ specific
      goals before the
      taping begins.  We will walk through the concept creation,
      writing, casting, researching, and any other preparation items the client
      will need for the actual production
stage.
 ·
              Production.  During
      the actual production, we will provide professional filming or videotaping
      services in order to prepare for the last
stage.
 ·
              Post-production.  During
      this stage, we will include graphics, animations, audio mixing, and
      editing to bring the clients’ project to
  perfection.
  2
  Since
producing is not a “one size fits all” process, we will provide an experienced
producer to supervise your project through all three steps.  We also
maintain a diverse pool of professionals from which to draw when needs for
writers, actors, editors, directors, producers, talent consultants, and others,
arise.
 
 Public Relations Services. We
intend to provide our public relations services under the trade name “Positively
PR”. We believe positive public relations can have a major impact on a client’s
business or organization.  We will help our clients to build name
recognition, and, in doing so, create a precise, first-rate image of your
company. Our public relations services offer media/client services
including:
 
 ·
              create
      specific and strategic media plans according to client needs and adhering
      to a strict and detailed timeline;
 ·
              identify
      and focus on client’s target
market;
 ·
              identify
      media outlets integral to obtaining positive public
    relations
 ·
              develop
      media kits;
 ·
              create
      a newsletter if desired;
 ·
              create
      and disseminate of press releases to the appropriate media
      outlets;
 ·
              coordinate
      media interviews;
 ·
              prepare
      key individuals in client’s company for press
  interviews;
 ·
              create
      and organize special events;
 ·
              research
      and pitch editorial opportunities and guest
  columns;
 ·
              create
      sponsorship opportunities if desired;
and
 ·
              coordinate
      community involvement.
 
 We
believe the key to public relations is to obtain the right kind of publicity in
order to enhance your other marketing and advertising efforts.  When a
favorable story emerges via print or visual media, the client’s audience will
see that the client’s company is reliable, trustworthy, and
worthwhile.  Furthermore, utilizing copies of the positive media can
serve as very influential marketing tools.  Including this positive
publicity in all of the client’s materials will immensely boost the client’s
credibility and give the client’s business or organization a positive public
perception.
 
 Copy Editing and Proofreading
Services. We intend to provide our copy editing and proofreading services
under the trade name “Get it Write!”. We offer our copy editing and proofreading
services to fine-tune our clients’ written materials. Our copy editing and
proofreading services include:
 
 ·
              basic
      proofreading and copy-editing;
 ·
              proofreading
      and copy-editing with needed rewrites;
and
 ·
              extensive
      rewriting.
  Our
experienced staff treats each individual piece of writing with care and
attention to detail. We provide our clients with useful feedback in a timely
manner.
  Our Target Markets and Marketing
Strategy.  We believe that our primary target market will
consist of small and medium sized businesses that wish to outsource their video
production services, public relations services and copy editing services to
third parties. In addition to small and medium sized businesses, we believe
another potential target market will be providing our services to large
companies that participate in Las Vegas conventions. We intend promote our
services by means of relationship-building with potential clients, trade
magazine articles and advertisements, reputation and word of mouth. We also
intend to attend industry events to build relationships with potential clients
for our services. Our marketing initiatives will include:
 
 ·
              research
      small to medium size businesses that are located near our current accounts
      in California;
 ·
              develop
      and print sales and marketing materials including brochures and cards;
      and
 ·
              initiate
      direct contact with those potential
customers.
 
 3
  Growth Strategy.Our objective
is to become one of the dominant providers of video production and media
relations services in the Las Vegas area.  Our strategy is to provide
clients with exceptional personal service and high quality production services.
Key elements of our strategy include:
 
 ·
              increase
      our relationships with businesses;
 ·
              increase
      our relationships with third party providers of digital products and
      services;
 ·
              continue
      and expand our website;
 ·
              provide
      additional services for businesses and
  consumers;
 ·
              pursue
      relationships with joint venture candidates. We will attempt to establish
      joint ventures with companies that will support our business development;
      and
 ·
              expand
      operations into California.
 
 Our Website.Our website is
located at www.blsmedia.com. Our
current website displays contact information and provides a general description
of the services that we provide as well as our production
capabilities.  We anticipate that our website will be developed to
allow potential customers to acquaint themselves with our portfolio of prior
productions.
 
 Our Competition. The video
production and media relations industry in the United States is highly
competitive. We compete with a substantial number of advertising agencies,
general production companies, and public relations firms. We also have
competition from small fragmented video production and public relations firms
that operate in the same geographic areas as we do. The major competitive
factors in our business are the quality of customer service, the quality of
finished products and price. Our ability to compete effectively in providing
customer service and quality finished products is primarily dependent on the
level of sophistication and creativity of our products, the availability of
equipment and the ability to perform the services with speed and accuracy. We
believe we will be able to compete effectively in all of these
areas.
 
 Many of
our competitors have greater financial resources than we have, enabling them to
finance acquisition and development opportunities, to pay higher prices for the
same opportunities or to develop and support their own operations. In addition,
many of these companies can offer bundled, value-added or additional services
not provided by us, and may have greater name recognition.  These
companies might be willing to sacrifice profitability to capture a greater
portion of the market for similar products and services, or pay higher prices
than we would for the same expansion and development
opportunities.  Consequently, we may encounter significant competition
in our efforts to achieve our internal growth objectives. We cannot guaranty
that we will be able to compete effectively in this industry.
  Our Intellectual
Property.   We do not presently own any copyrights,
patents, trademarks, licenses, concessions or royalties. We intend to protect
various words, names, symbols, and devices that are used with goods produced by
us through the use of trademarks, and our services through the use of service
marks. We may file trademark applications for “Positively PR” and “Get It
Write!” with the US Patent and Trademark Office to protect those service marks.
In the event that we file those applications, we cannot guaranty we will receive
such trade or service mark protection.
  We own
the Internet domain name www.blsmedia.com. Under current domain name
registration practices, no one else can obtain an identical domain name, but
someone might obtain a similar name, or the identical name with a different
suffix, such as “.org”, or with a country designation. The regulation of domain
names in the United States and in foreign countries is subject to change, and we
could be unable to prevent third parties from acquiring domain names that
infringe or otherwise decrease the value of our domain names.
 
 Our
success may depend in part upon our ability to preserve our trade secrets,
obtain and maintain patent protection for our technologies, products and
processes, and operate without infringing the proprietary rights of other
parties. However, we may rely on certain proprietary technologies, trade
secrets, and know-how that are not patentable. Although we may take action to
protect our unpatented trade secrets and our proprietary information, in part,
by the use of confidentiality agreements with our employees, consultants and
certain of our contractors, we cannot guaranty that:
 
 ·
              these
      agreements will not be breached;
  4
  ·
              we
      would have adequate remedies for any breach;
or
 ·
              our
      proprietary trade secrets and know-how will not otherwise become known or
      be independently developed or discovered by
  competitors.
 
 We cannot
guaranty that our actions will be sufficient to prevent imitation or duplication
of either our services or business methods by others or prevent others from
claiming violations of their intellectual property rights.
 
 Government Regulation. We are
subject to federal, state and local laws and regulations generally applied to
businesses, such as payroll taxes on the state and federal levels. We believe
that we are in conformity with all applicable laws in all relevant
jurisdictions. We do not believe that we have not been affected by any of the
rules and regulations specified in this section.
 
 Research and
Development.We are not currently conducting any research and
development activities. We do not anticipate conducting such activities in the
near future.
 
 Employees.As of
March 21, 2008, we have no employees other than our officers. We anticipate that
we will not hire any employees in the next six months, unless we generate
significant revenues. From time-to-time, we anticipate that we will use the
services of independent contractors and consultants for the various services
that we provide, if our existing staffing levels are not adequate to furnish
such services.  We will determine when and whether to add to our staff
or supplement it by means of independent contractors in the event that we obtain
additional contracts for services.  We anticipate that we would engage
independent contractors on a flat fee basis.
 
 Facilities.Our executive,
administrative and operating offices are located at 1683 Duarte Drive,
Henderson, Nevada, 89014. Brittany Prager, our president, secretary and one of
our directors, provides approximately 200 square feet of office space to us at
no charge. Our financial statements reflect, as occupancy costs, the fair market
value of that space, which is approximately $200 per month. That amount has been
included in the financial statements as additional capital contribution by Ms.
Prager. We do not have a written lease or sublease agreement with Ms. Prager. We
believe that our facilities are adequate for our needs and that additional
suitable space will be available on acceptable terms as required. We do not own
any real estate.
 
 Risk
Factors.
 
 Investing
in our common stock involves a high degree of risk. Any potential investor
should carefully consider the risks and uncertainties described below before
purchasing any shares of our common stock. The risks described below are those
we currently believe may materially affect us.
 
 Risks Related to our
Business:
 
 We
have a limited operating history upon which an evaluation of our prospects can
be made.
 
 We were
incorporated in October 2006. Our lack of operating history makes an evaluation
of our business and prospects very difficult. Our prospects must be considered
speculative, considering the risks, expenses, and difficulties frequently
encountered in the establishment of a new business. We cannot be certain that
our business will be successful or that we will generate significant
revenues.
 
 We need to raise additional capital to market our products
and services. Our failure to raise additional capital will significantly affect
our ability to fund our proposed marketing activities.
 
 We are
currently not engaged in any sophisticated marketing program to market our
services because we lack sufficient capital and revenues to justify the
expenditure. We need to raise additional capital to spend more funds on
marketing and promotion. We do not know if we will be able to acquire additional
financing at commercially reasonable rates. Our failure to obtain additional
funds would significantly limit or eliminate our ability to fund our sales and
marketing activities.
  5
 We have incurred a net loss since
inception and expect to incur net losses for the foreseeable
future.
 
 As of
December 31, 2007, our net loss since inception was $80,040. We expect to incur
significant operating and capital expenditures and, as a result, we expect
significant net losses in the future. We will need to generate significant
revenues to achieve and maintain profitability. We may not be able to generate
sufficient revenues to achieve profitable operations.
 
 Because
we are a development stage company, we have limited revenues to sustain our
operations.
 
 We are a
development stage company that is currently developing our business. To date, we
have only generated very limited revenues. The success of our business
operations will depend upon our ability to obtain clients and provides quality
services to those clients. We are not able to predict whether we will be able to
develop our business and generate significant revenues. If we are not able to
complete the successful development of our business plan, generate significant
revenues and attain sustainable operations, then our business will
fail.
 
 We
may not be able to compete effectively with other providers that have more
resources and experience than we have.
 
 Our
industry is significantly competitive. We have competitors that provide some or
all of the services we provide and who are larger and have more resources than
we do. Many of our competitors have significantly greater financial, human and
marketing resources than we have. As a result, such competitors may be able to
respond more quickly to new trends and changes in customer demands. Such
competitors may also be able to devote greater resources to the development,
promotion, sale, and support of their services than we do. If we do not compete
effectively with current and future competitors, we may be unable to secure new
and renewed client contracts, or we may be required to reduce our rates in order
to complete effectively. This could result in a reduction in our revenues,
resulting in lower earnings or operating losses.
 
 Our
officers and directors are engaged in other activities that could conflict with
our interests. Therefore, our officers and directors may not devote sufficient
time to our affairs, which may affect our ability to conduct marketing
activities and generate revenues.
 
 The
individuals serving as our officers and directors have existing responsibilities
and may have additional responsibilities to provide management and services to
other entities. As a result, conflicts of interest between us and the other
activities of those entities may occur from time to time, in that our officers
and directors shall have conflicts of interest in allocating time, services, and
functions between the other business ventures in which he may be or become
involved and our affairs.
 
 As a service oriented business, we
depend on the efforts and abilities of our management to continue
operations.
 
 Our
management is our only employees with experience relevant to business. Outside
demands on our management’s time may prevent them from devoting sufficient time
to our operations. In addition, the demands on their time will increase because
of our status as a public company.   The interruption of the
services of our management could significantly hinder our operations, profits
and future development, if suitable replacements are not promptly
obtained.  We do not currently have any executive compensation
agreements.  We cannot guaranty that our management will remain with
us.
 
 Our auditors have expressed
substantial doubt regarding our ability to continue operations as a “going
concern.” Investors may lose all of their investment if we are unable to
continue operations and generate revenues, or if we do not raise sufficient
funds in this offering.
 
 We have
recently generated minimal revenues from our operations.  In the
absence of significant sales and profits, we will seek to raise additional funds
to meet our working capital needs principally through the additional sales of
our securities.  However, we cannot guaranty that we will be able to
obtain sufficient additional funds when needed, such as the funds we are
attempting to raise in this offering, or that such funds, if available, will be
obtainable on terms satisfactory to us.  If we do not raise sufficient
funds in this offering, we may not be able to continue in
business.  As a result, our auditors believe that substantial doubt
exists about our ability to continue operations.
  6
 
 The
costs to meet our reporting requirements as a public company subject to the
Exchange Act of ’34 will be substantial and may result in us having insufficient
funds to operate our business.
 
 We will
incur ongoing expenses associated with professional fees for accounting and
legal expenses associated with being a public company. We estimate that these
costs will range up to $50,000 per year for the next few years. Those fees will
be higher if our business volume and activity increases.  Those
obligations will reduce and possibly eliminate our ability and resources to fund
our operations and may prevent us from meeting our normal business
obligations.
  Risks Related to Owning Our
Common Stock
  Our
officers, directors and principal shareholders own approximately 88% of our
outstanding shares of common stock, allowing these shareholders control matters
requiring approval of our shareholders.
 
 Our
officers, directors and principal shareholders beneficially own, in the
aggregate, approximately 88% of our outstanding shares of common
stock.  Such concentrated control of the company may adversely affect
the price of our common stock.  Our officers, directors and principal
shareholders can control matters requiring approval by our security holders,
including the election of directors.
  We
lack a public market for shares of our common stock, which may make it difficult
for investors to sell their shares.
  There is
no public market for shares of our common stock. We cannot guaranty that an
active public market will develop or be sustained. Therefore, investors may not
be able to find purchasers for their shares of our common stock. Should there
develop a significant market for our shares, the market price for those shares
may be significantly affected by such factors as our financial results and
introduction of new products and services.
  Our
common stock may be subject to penny stock regulations which may make it
difficult for investors to sell their stock.
 
 The
Securities and Exchange Commission has adopted rules that regulate broker-dealer
practices in connection with transactions in “penny stocks”.  Penny
stocks generally are equity securities with a price of less than $5.00 (other
than securities registered on certain national securities exchanges or quoted on
the NASDAQ system, provided that current price and volume information with
respect to transactions in such securities is provided by the exchange or
system).  The penny stock rules require a broker-dealer, prior to a
transaction in a penny stock not otherwise exempt from those rules, deliver a
standardized risk disclosure document prepared by the Commission, which
specifies information about penny stocks and the nature and significance of
risks of the penny stock market.  The broker-dealer also must provide
the customer with bid and offer quotations for the penny stock, the compensation
of the broker-dealer and salesperson in the transaction, and monthly account
statements indicating the market value of each penny stock held in the
customer's account.  In addition, the penny stock rules require that,
prior to a transaction in a penny stock not otherwise exempt from those rules,
the broker-dealer must make a special written determination that the penny stock
is a suitable investment for the purchaser and receive the purchaser's written
agreement to the transaction.  These disclosure requirements may have
the effect of reducing the trading activity in the secondary market for a stock
that becomes subject to the penny stock rules.  If our common stock
becomes subject to the penny stock rules, holders of our shares may have
difficulty selling those shares.
 
 Item 2. Description of
Property.
 
 Property held by us.As of
December 31, 2007 and 2006, we held no real property and do not presently own
any interests in real estate.
  7
  Our Facilities. Our executive,
administrative and operating offices are located at 1683 Duarte Drive,
Henderson, Nevada, 89014. Brittany Prager, our president, secretary and one of
our directors, provides approximately 200 square feet of office space to us at
no charge. Our financial statements reflect, as occupancy costs, the fair market
value of that space, which is approximately $200 per month. That amount has been
included in the financial statements as additional capital contribution by Ms.
Prager. We do not have a written lease or sublease agreement with Ms. Prager.
Ms. Prager does not expect to be paid or reimbursed for providing office
facilities.  We believe that our facilities are adequate for our needs
and that additional suitable space will be available on acceptable terms as
required. We do not own any real estate.
 
 Item 3. Legal
Proceedings.
 
 There are
no legal actions pending against us nor are any legal actions contemplated by us
at this time.
 
 Item 4. Submission of
Matters to Vote of Security Holders.
 
 Not
applicable.
  PART
II
 
 Item 5. Market Price for
Common Equity and Related Stockholder Matters.
 
 Market Information.  In
September 2007, our common stock became eligible for quotation on the
Over-the-Counter Bulletin Board under the symbol “BLSM”. As of March 21, 2008,
no shares of our common stock have traded.
 
 Reports to Security Holders.We are a
reporting company with the Securities and Exchange Commission, or
SEC.The public may read and copy any materials filed with the
Securities and Exchange Commission at the Security and Exchange Commission’s
Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. The
public may also obtain information on the operation of the Public Reference Room
by calling the Securities and Exchange Commission at
1-800-SEC-0330.  The Securities and Exchange Commission maintains an
Internet site that contains reports, proxy and information statements, and other
information regarding issuers that file electronically with the Securities and
Exchange Commission. The address of that site is
http://www.sec.gov.
 
 As of
March 21, 2008, there were 39 record holders of our common stock.
 
 There are
40,000 outstanding shares of our common stock which can be sold pursuant to Rule
144. There are no outstanding options or warrants to purchase, or securities
convertible into, shares of our common stock. We have not agreed to register for
sale any shares of common stock held any of our shareholders.
 
 There
have been no cash dividends declared on our common stock.  Dividends
are declared at the sole discretion of our Board of Directors.
 
 No Equity Compensation Plan.We do not have any securities authorized for issuance under any equity
compensation plan.  We also do not have an equity compensation plan
and do not plan to implement such a plan.
 
 Recent Sales of Unregistered
Securities.There have been no sales of unregistered securities within
the last three (3) years which would be required to be disclosed pursuant to
Item 701 of Regulation S-B, except for the following:
 
 In
November 2006, we issued 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 our officers and directors at inception.  These shares were issued
in exchange for cash of $4,000, or $.001 per share. The shares were issued in a
transaction which we believe satisfies the requirements of that certain
exemption from the registration and prospectus delivery requirements of the
Securities Act of 1933, as amended, which exemption is specified by the
provisions of Section 4(2) of that act. We believe that our founders had such
knowledge and experience in financial and business matters that they were
capable of evaluating the merits and risks of the prospective investment. In
addition, our founders had sufficient access to material information about us
because they also served as our officers and directors.
  8
  Use of Proceeds of Registered
Securities.There were no sales or proceeds during the calendar year
ended December 31, 2007, for the sale of registered securities, except for the
following:
 
 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 are
using those proceeds for working capital.
 
 Penny Stock
Regulation.  Trading of our securities will be in the
over-the-counter markets which are commonly referred to as the “pink sheets” or
on the OTC Bulletin Board. As a result, an investor may find it more difficult
to dispose of, or to obtain accurate quotations as to the price of the
securities offered.
 
 Shares of
our common stock will probably be subject to rules adopted the Securities and
Exchange Commission that regulate broker-dealer practices in connection with
transactions in “penny stocks”.  Penny stocks are generally equity
securities with a price of less than $5.00 (other than securities registered on
certain national securities exchanges or quoted on the NASDAQ system, provided
that current price and volume information with respect to transactions in those
securities is provided by the exchange or system).  The penny stock
rules require a broker-dealer, prior to a transaction in a penny stock not
otherwise exempt from those rules, deliver a standardized risk disclosure
document prepared by the Securities and Exchange Commission, which contains the
following:
 
 ·
              a
      description of the nature and level of risk in the market for penny stocks
      in both public offerings and secondary
trading;
 ·
              a
      description of the broker’s or dealer’s duties to the customer and of the
      rights and remedies available to the customer with respect to violation to
      such duties or other requirements of securities’
  laws;
 ·
              a
      brief, clear, narrative description of a dealer market, including "bid"
      and "ask” prices for penny stocks and the significance of the spread
      between the "bid" and "ask" price;
 ·
              a
      toll-free telephone number for inquiries on disciplinary
      actions;
 ·
              definitions
      of significant terms in the disclosure document or in the conduct
      of  trading in penny stocks;
and
 ·
              such
      other information and is in such form (including language, type, size and
      format), as the Securities and Exchange Commission shall require by rule
      or regulation.
 
 Prior to
effecting any transaction in penny stock, the broker-dealer also must provide
the customer the following:
 
 ·
              the
      bid and offer quotations for the penny
stock;
 ·
              the
      compensation of the broker-dealer and its salesperson in the
      transaction;
 ·
              the
      number of shares to which such bid and ask prices apply, or other
      comparable information relating to the depth and liquidity of the market
      for such stock; and
 ·
              monthly
      account statements showing the market value of each penny stock held in
      the customer’s account.
 
 In
addition, the penny stock rules require that prior to a transaction in a penny
stock not otherwise exempt from those rules, the broker-dealer must make a
special written determination that the penny stock is a suitable investment for
the purchaser and receive the purchaser’s written acknowledgment of the receipt
of a risk disclosure statement, a written agreement to transactions involving
penny stocks, and a signed and dated copy of a written suitably
statement.  These disclosure requirements may have the effect of
reducing the trading activity in the secondary market for a stock that becomes
subject to the penny stock rules.  Holders of shares of our common
stock may have difficulty selling those shares because our common stock will
probably be subject to the penny stock rules.
  Purchases of Equity Securities.None during the period covered by this report.
 9
 
 Item 6. Management’s
Discussion and Analysis of Financial Condition or Plan of
Operation.
 
 Critical Accounting Policies 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.
 
 For the year ended December
31, 2007 compared to the period from October 31, 2006 (inception) to December
31, 2006.
 
 Revenues. We had revenues of
$403 for the year ended December 31, 2007, as compared to no revenues for the
period from October 31, 2006 (inception) to December 31, 2006.  We
hope to generate revenues as continue operations and implement our business
plan.
 
 Operating Expenses.For the
year ended December 31, 2007, our total operating expenses was $67,669, as
compared to total operating expenses of $10,995 for the period from October 31,
2006 (inception) to December 31, 2006. Our total operating expenses is
attributed to professional fees of $63,361, which is attributed to the increased
legal expenses and accounting expenses related to becoming a public company, and
general and administrative expenses of $4,308. We expect that we will continue
to incur significant legal and accounting expenses related to being a public
company.
 
 Net Loss.For
the year ended December 31, 2007, our net operating loss was $67,266 and our net
loss was $69,026 after our interest expense of $1,760 and a provision for income
taxes of $0. This is in comparison to our operating net loss of $10,995 and our
net loss of $11,014 after our interest expense of $19 and a provision for
income taxes of $0. We expect to continue to incur net losses for the
foreseeable future and until we generate significant revenues.
 
 Liquidity and Capital Resources.We had cash of $38,253 and prepaid expenses of $5,417 as of December 31,
2007, which equals our total current assets of $43,670 as of that date. Our
total assets of $45,444 as of December 31, 2007, included our current assets of
$43,670, and property and equipment of $1,774, net of $334 accumulated
depreciation.
 
 Our
current liabilities were $67,134 as of December 31, 2007, which was represented
by accounts payable of $45,134 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 December 31, 2007.
 
 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.
 10
 
 During
2008, we expect that the legal and accounting costs of becoming 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 becoming a reporting company, we are
not aware of any other known trends, events or uncertainties, which may affect
our future liquidity.
  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 six months of
2007, our ability to market our services has been significantly hindered due to
the pregnancy of Brittany Prager, our president, secretary and a director. 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 of $38,253 as of December 31, 2007. 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.
 
 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.
 
 Off-Balance Sheet Arrangements.We have no off-balance sheet arrangements.
  11
 
 Item 7. Financial
Statements
   BLS
MEDIA, INC.
 (A
Development Stage Company)
  REPORT
AND FINANCIAL STATEMENTS
  FOR
THE YEAR ENDED DECEMBER 31, 2007
 AND
FOR THE PERIODS FROM INCEPTION (OCTOBER 31, 2006)
 THROUGH
DECEMBER
31, 2006 AND 2007
  The
financial statements required by Item 7 are presented in the following
order:
  TABLE
OF CONTENTS
 
 Report
      of Independent Registered Public Accounting Firm
                F-1Balance
      Sheets
                F-2Statements
      of Operations
                F-3Statements
      of Changes in Stockholders’ Deficit
                F-4Statements
      of Cash Flows
                F-5Notes
      to Financial Statements
                F-6
 
 
 12
  REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
 
 To the
Board of Directors and Stockholders
 BLS
Media, Inc.
 Henderson,
Nevada
 
 
 We have
audited the accompanying balance sheets of BLS Media, Inc. (a development stage
company) as of December 31, 2007 and 2006, and the related statements of
operations, stockholders’ deficit, and cash flows for the year ended December
31, 2007 and for the periods from inception (October 31, 2006) through December
31, 2006 and 2007. These financial statements are the responsibility of the
Company’s management.  Our responsibility is to express an opinion on
these financial statements based on our audits.
 
 We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States).  Those standards require
that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement.  The
Company is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting.  Our audits included
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Company’s
internal control over financial reporting.  Accordingly, we express no
such opinion.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation.  We believe
that our audits provide a reasonable basis for our opinion.
 
 In our
opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of BLS Media, Inc. as of December 31,
2007 and 2006, and the results of its operations and its cash flows for the year
ended December 31, 2007 and for the periods from inception (October 31, 2006)
through December 31, 2006 and 2007, in conformity with accounting principles
generally accepted in the United States of America.
 
 The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern.  As more fully described in Note 2,
the Company has incurred recurring operating losses and has an accumulated
deficit.  These conditions raise substantial doubt about the Company’s
ability to continue as a going concern.  Management’s plans in regard
to these matters are also described in Note 2.  The financial
statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or the amounts and
classification of liabilities that may result from the outcome of this
uncertainty.
 
 /s/
      Mendoza Berger & Company LLPMendoza
      Berger & Company LLP
                      Irvine,
      California
                      February
      1, 2008
  F-1
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 BALANCE
SHEETS
 DECEMBER
31, 2007 AND 2006
 ASSETS
 2007
                
                
                2006Current
      assetsCash
                
                $
                38,253
                
                
                $
                26,000Prepaid
      expenses
                
                
                5,417
                
                
                
                -Total
      current assets
                
                
                43,670
                
                
                
                26,000Property
      and equipment, net of $334 accumulateddepreciation
                
                
                1,774
                
                
                
                -Total
      assets
                
                $
                45,444
                
                
                $
                26,000LIABILITIES AND STOCKHOLDERS’
      DEFICIT
 Current
      liabilitiesAccounts
      payable and accrued expenses
                
                $
                45,134
                
                
                $
                10,614Loan
      from stockholder
                
                
                22,000
                
                
                
                22,000Total
      current liabilities
                
                
                67,134
                
                
                
                32,614Stockholders’
      deficitCommon
      stock, $.001 par value; 100,000,000 shares authorized,
      4,515,500and
      4,000,000 shares issued and outstanding, respectively
                
                
                4,516
                
                
                
                4,000Additional
      paid-in capital
                
                
                53,834
                
                
                
                400Deficit
      accumulated during the development stage
                
                
                (80,040
                )
                
                
                (11,014
                )Total
      stockholders’ deficit
                
                
                (21,690
                )
                
                
                (6,614
                )Total
      liabilities and stockholders’deficit
                
                $
                45,444
                
                
                $
                26,000
   See
accompanying notes to financial statements
 F-2
 
 BLS
MEDIA, INC.
 (A
Development Stage Company)
 STATEMENTS
OF OPERATIONS
 
 For
      the
                  Year
      Ended
                  December
      31,
                  2007
                
                
                For
      the Period from Inception
                  (October
      31, 2006) through
                  December
      31, 2006
                
                
                For
      the Period from Inception
                  (October
      31, 2006) through
                  December
      31, 2007Net
      revenue
                
                $
                403
                
                
                $
                -
                
                
                $
                403Operating
      expensesLegal
      and professional
                
                
                63,361
                
                
                
                10,595
                
                
                
                73,956General
      and Administrative
                
                
                4,308
                
                
                
                400
                
                
                
                4,708Total
      operating expenses
                
                
                67,669
                
                
                
                10,995
                
                
                
                78,664Net
      operating loss
                
                
                (67,266
                )
                
                
                (10,995
                )
                
                
                (78,261
                )Interest
      expense
                
                
                (1,760
                )
                
                
                (19
                )
                
                
                (1,779
                )Loss
      before income taxes
                
                
                (69,026
                )
                
                
                (11,014
                )
                
                
                (80,040
                )Provision
      for income taxes
                
                
                -
                
                
                
                -
                
                
                
                -Net
      loss
                
                $
                (69,026
                )
                
                $
                (11,014
                )
                
                $
                (80,040
                )Net
      loss per common share – basic and diluted
                
                $
                (0.02
                )
                
                $
                -
                
                
                $
                (0.02
                )Weighted
      average of commonshares
      – basic and diluted
                
                $
                4,298,212
                
                
                $
                4,000,000
                
                
                $
                4,212,358
   See
accompanying notes to financial statements
  F-3
 BLS
MEDIA, INC.
 (A
Development Stage Company)
 STATEMENTS
OF CHANGES IN STOCKHOLDERS’ DEFICIT
 FOR
THE PERIODS FROM INCEPTION (OCTOBER 31, 2006)
 THROUGH
DECEMBER 31, 2006 AND 2007
 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
                
                
                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 forfacilities
      provided by related party
                
                
                -
                
                
                
                -
                
                
                
                2,400
                
                
                
                -
                
                
                
                2,400Net
      loss
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (69,026
                )
                
                
                (69,026
                )Balance,
      December 31, 2007
                
                
                4,515,500
                
                
                $
                4,516
                
                
                $
                53,834
                
                
                $
                (80,040
                )
                
                $
                (21,690
                )
  See
accompanying notes to financial statements
  F-4
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 STATEMENTS
OF CASH FLOWS
 For
      the Year Ended
                  December
      31, 2007
                
                
                For
      the Period from Inception (October 31, 2006) through
                  December
      31, 2006
                
                
                For
      the Period from Inception
                  (October
      31, 2006) through
                  December
      31, 2007Cash
      flows from operating activitiesNet
      loss
                
                $
                (69,026
                )
                
                $
                (11,014
                )
                
                $
                (80,040
                )Adjustments
      to reconcile net loss to net cash used in operating
    activitiesAdditional
      paid-in capital in exchange for facilities provided by related
      party
                
                
                2,400
                
                
                
                400
                
                
                
                2,800Depreciation
                
                
                334
                
                
                
                -
                
                
                
                334Changes
      in operating assets and liabilities(Increase)
      in prepaid expenses
                
                
                (5,417
                )
                
                
                -
                
                
                
                (5,417
                )Increase
      in accounts payable and accruedexpenses
                
                
                34,520
                
                
                
                10,614
                
                
                
                45,134Net
      cash used in operating activities
                
                
                (37,189
                )
                
                
                -
                
                
                
                (37,189
                )Cash
      flows from investing activitiesPurchase
      of property and equipment
                
                
                (2,108
                )
                
                
                -
                
                
                
                (2,108
                )Net
      cash used by investing activities
                
                
                (2,108
                )
                
                
                -
                
                
                
                (2,108
                )Cash
      flows from financing activitiesProceeds
      from issuance of stockholder loan
                
                
                -
                
                
                
                22,000
                
                
                
                22,000Proceeds
      from issuance of common stock
                
                
                51,550
                
                
                
                4,000
                
                
                
                55,550Net
      cash provided by financing activities
                
                
                51,550
                
                
                
                26,000
                
                
                
                77,550Net
      increase in cash
                
                
                12,253
                
                
                
                26,000
                
                
                
                38,253Cash,
      beginning of period
                
                
                26,000
                
                
                
                -
                
                
                
                -Cash,
      end of period
                
                $
                38,253
                
                
                $
                26,000
                
                
                $
                38,253Supplemental
      disclosure of cash flowinformationIncome
      taxes paid
                
                $
                -
                
                
                $
                -
                
                
                $
                -Interest
      paid
                
                $
                -
                
                
                $
                -
                
                
                $
                -
   See
accompanying notes to financial statements
 F-5
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 DECEMBER
31, 2007 AND 2006
 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 “Accounting and Reporting by Development Stage
Enterprises”,andwas 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
Equivalents
 
 For
purposes of the balance sheet and statement of cash flows, the Company considers
all highly liquid 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.
  F-6
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 DECEMBER
31, 2007 AND 2006
 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.
 
 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. The components
of the deferred tax assets and liabilities are classified as current and
non-current based on their characteristics.  The components of the deferred
tax assets and liabilities are classified as current and non-current based on
their characteristics. 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 December 31, 2007, the Company had no other components of
comprehensive loss other than net loss as reported on the statement of
operations.
  F-7
 BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 DECEMBER
31, 2007 AND 2006
 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 December 31, 2007, 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 EITF of the FASB reached a consensus on Issue
No. 07-1, Accounting for
Collaborative Arrangements(EITF 07-1). The EITF concluded on the
definition of a collaborative arrangement and that revenues and costs incurred
with third parties in connection with collaborative arrangements would be
presented gross or net based on the criteria in EITF 99-19 and other accounting
literature. Based on the nature of the arrangement, payments to or from
collaborators would be evaluated and its terms, the nature of the entity’s
business, and whether those payments are within the scope of other accounting
literature would be presented. Companies are also required to disclose the
nature and purpose of collaborative arrangements along with the accounting
policies and the classification and amounts of significant financial-statement
amounts related to the arrangements. Activities in the arrangement conducted in
a separate legal entity should be accounted for under other accounting
literature; however required disclosure under EITF 07-1 applies to the entire
collaborative agreement. This Issue is effective for financial statements issued
for fiscal years beginning after December 15, 2008, and interim periods
within those fiscal years, and is to be applied retrospectively to all periods
presented for all collaborative arrangements existing as of the effective date.
We do not expect this will have a significant impact on our financial
statements.
 
 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.
  F-8
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 DECEMBER
31, 2007 AND 2006
 
 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.
 
 In
June 2007, the EITF of the FASB reached a consensus on Issue No. 07-3,
Accounting for Nonrefundable Advance Payments for Goods or Services Received for
Use in Future Research and Development Activities (EITF 07-3). EITF 07-3
requires that non-refundable advance payments for goods or services that will be
used or rendered for future research and development activities should be
deferred and capitalized. As the related goods are delivered or the services are
performed, or when the goods or services are no longer expected to be provided,
the deferred amounts would be recognized as an expense. This Issue is effective
for financial statements issued for fiscal years beginning after
December 15, 2007 and earlier application is not permitted. This consensus
is to be applied prospectively for new contracts entered into on or after the
effective date. The pronouncement is not expected to have a material effect on
our financial statements.
 
 In
February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial
Assets and Financial Liabilities—Including an amendment of FASB Statement
No. 115(SFAS No. 159), which is effective for fiscal years
beginning after November 15, 2007. SFAS No. 159 permits the Company to
choose to measure many financial instruments and certain other items at fair
value. The objective is to improve financial reporting by providing entities
with the opportunity to mitigate volatility in reported earnings caused by
measuring related assets and liabilities differently without having to apply
complex hedge accounting provisions. SFAS No. 159 is expected to expand the
use of fair value measurement, which is consistent with the FASB’s long-term
measurement objectives for accounting for financial instruments. SFAS
No. 159 is effective for fiscal year 2008 but early adoption is permitted.
We are currently evaluating the impact, if any, that the adoption of SFAS
No. 159 will have on our financial statements.
 
 In
September 2006, the FASB issued SFAS No. 157, Fair Value Measurements(SFAS
No. 157). SFAS No. 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 is
effective as of the beginning of the Company’s 2008 fiscal year. We do not
expect this will have a significant impact on our financial
statements.
  F-9
  BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 DECEMBER
31, 2007 AND 2006
  2.
                    GOING
      CONCERN
  As shown
in the accompanying financial statements, the Company has incurred a net
operating loss of ($80,040) from inception (October 31, 2006) through December
31, 2007. 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 December 31, 2007.
 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.
  F-10
 BLS
MEDIA, INC.
 (A
Development Stage Company)
 NOTES
TO FINANCIAL STATEMENTS
 DECEMBER
31, 2007 AND 2006
 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
December 31, 2007, the Company had federal and state net operating loss
carryforwards of approximately ($80,000), which can be used to offset future
federal income tax.  The federal and state net operating loss
carryforwards expire at various dates through 2027.  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.
  Following is a summary of
the provision for income taxes as of December 31:
  2007
                
                
                2006Federal net
      operating  loss (18.75% and 15% respectively)
                
                $
                15,000
                
                
                $
                1,650Less: Valuation
      allowance
                
                
                (15,000
                )
                
                
                (1,650
                )$
                -
                
                
                $
                -
 F-11
 
 Item 8. Changes in and
Disagreements with Accountants on Accounting and Financial
Disclosure.
 
 There
have been no changes in or disagreements with our accountants since our
formation required to be disclosed pursuant to Item 304 of Regulation
S-B.
  Item
8A. 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 December 31,
2007, the date of this report, our chief executive officer and the principal
financial officer concluded that our disclosure controls and procedures were not
effective. as
described below under management's report on internal control over financial
reporting.
  Item
8A( T ). Controls and Procedures.
  (a)
Management's annual report on internal control over financial
reporting.
  Our Chief
Executive Officer and our Chief Financial Officer are responsible for
establishing and maintaining adequate internal control over financial reporting.
 Internal control over financial reporting is defined in Rule 13a-15(f) and
15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process
designed by, or under the supervision of, our principal executive and principal
financial officers and effected by our board of directors, management and other
personnel, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles and
includes those policies and procedures that:
 
 ·
                pertain
      to the maintenance of records that in reasonable detail accurately and
      fairly reflect the transactions and dispositions of our
      assets;
 
 ·
                provide
      reasonable assurance that transactions are recorded as necessary to permit
      preparation of financial statements in accordance with generally accepted
      accounting principles, and that our receipts and expenditures are being
      made only in accordance with authorizations of management and our
      directors; and
 
 ·
                provide
      reasonable assurance regarding prevention or timely detection of
      unauthorized acquisition, use or disposition of our assets that could have
      a material effect on the financial
statements.
 
 Because
of its inherent limitations, our internal control over financial reporting may
not prevent or detect misstatements.  Therefore, even those systems
determined to be effective can provide only reasonable assurance with respect to
financial statement preparation and presentation.  Projections of any
evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
 
 Our Chief
Executive Officer and our Chief Financial Officer assessed the effectiveness of
our internal control over financial reporting as of December 31, 2007.   In
making this assessment, management used the criteria set forth by the Committee
of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control—Integrated
Framework.
 
 Based on
our assessment, our Chief Executive Officer and our Chief Financial Officer
believe that, as of December 31, 2007, our internal control over financial
reporting is not effective based on those criteria, due to the
following:
 ·
                  lack
      of proper segregation of functions, duties and responsibilities with
      respect to our Cash and Control over the disbursements related thereto due
      to our very limited staff, including our accounting
    personnel.
 In light
of this conclusion and as part of the preparation of this report, we have
applied compensating procedures and processes as necessary to ensure the
reliability of our financial reporting.  Accordingly, management
believes, based on its knowledge, that (1) this report does not contain any
untrue statement of a material fact or omit to state a material face necessary
to make the statements made not misleading with respect to the period covered by
this report, and (2) the financial statements, and other financial information
included in this report, fairly present in all material respects our financial
condition, results of operations and cash flows for the years and periods then
ended.
 This
report does not include an attestation report of our registered public
accounting firm regarding internal control over financial reporting.
 Management's report was not subject to attestation by our registered
public accounting firm pursuant to temporary rules of the Securities and
Exchange Commission that permit us to provide only management’s report in this
report.
  (b)
Changes in internal control over financial reporting.
 There
were no significant changes in our internal control over financial reporting
during the fourth quarter of the 2007 that have materially affected, or are
reasonably likely to materially affect, our internal control over financial
reporting.
  Item
8B. Other Information.
  None.
  13
  PART
III
 
 Item 9. Directors, Executive
Officers, Promoters and Control Persons and Corporate Governance; Compliance
with Section 16(a) of the Exchange Act.
 
 Executive Officers and
Directors. Each of our officers is elected by the board of directors for
a term of one year and serves until his or her successor is duly elected and
qualified, or until he or she is removed from office. Our directors and
principal executive officers are as specified on the following
table:
 
 Name
              Age
              PositionBrittany
      Prager
              31
              president,
      secretary and a directorGary
      Prager
              35
              chief
      financial officer and a director
 
 Brittany Prager. Ms. Prager is
our president, secretary and one of our directors since our
inception.  From 2005 to the present, Ms. Prager has been the
Assistant Program Manager for Clark County READS, the literacy initiative of The
Public Education Foundation, where she is responsible for overseeing the Reading
Is Fundamental Program, serving more than 24,000 at-risk students in the Clark
County School District.  She also recruits and trains adult reading
volunteers for the Reading Partner Program, coordinates special events, and
writes grants to fund many of Clark County READS' literacy programs. From 2003
to 2005, Ms. Prager taught Interpersonal Communication, Television Production,
and Public Speaking at the University of Nevada, Las Vegas while obtaining her
Master of Arts degree in Communication Studies.  She graduated Magna
Cum Laude in 2005. Ms. Prager worked as Account Executive for MassMedia/Vanguard
Public Relations, Marketing, and Advertising from 2002 to 2003, where she
oversaw media and client relations for 13 organizations, including Colonial Bank
of Nevada, Goodwill Industries of Southern Nevada, and the National Association
for Industrial and Office Properties. Ms. Prager also has a background in
television news.  From 1999 to 2002, she was a Television News
Producer for the local Las Vegas FOX affiliate, KVVU FOX5 News.  She
produced the evening and early morning newscasts and created promotional
materials for the news station. Ms. Prager graduated from the University of
Nevada, Las Vegas in 1999 with a Bachelor of Arts degree in Communication
Studies.   Ms. Prager has not been a director of any other
reporting company
 
 Gary Prager. Mr. Prager has
been our chief financial officer and one of our directors since our
inception.  Mr. Prager has been an integral part of the local Las
Vegas FOX affiliate, KVVU FOX5 News, since 1998, when he was originally hired as
a Director to conceive their news programming.  He was promoted to
Production Manager in 2002.   As Production Manager, he is
currently responsible for supervising and maintaining the budget and payroll for
a 20-member production crew, as well as directing three hours of daily, live,
local news and entertainment programming.  He also oversees the
production of client commercials, promotional materials, and various community
affairs programs and special events.   From to 1995 to 1998, Mr.
Prager worked as a Director for the local Las Vegas ABC affiliate, KTNV Channel
13, where he worked as a director/production supervisor. He also produced and
directed commercials for Las Vegas advertisers. Mr. Prager graduated from the
University of Nevada, Las Vegas in 1995 with Bachelor of Arts degree in
Communication Studies. Mr. Prager is not an officer or director of any other
reporting company.
  Brittany
Prager is the spouse of Gary Prager. There are no orders, judgments, or decrees
of any governmental agency or administrator, or of any court of competent
jurisdiction, revoking or suspending for cause any license, permit or other
authority to engage in the securities business or in the sale of a particular
security or temporarily or permanently restraining any of our officers or
directors from engaging in or continuing any conduct, practice or employment in
connection with the purchase or sale of securities, or convicting such person of
any felony or misdemeanor involving a security, or any aspect of the securities
business or of theft or of any felony. Nor are any of the officers or directors
of any corporation or entity affiliated with us so enjoined.
  14
 
 Section 16(a) Beneficial Ownership
Reporting Compliance. We believe that our officers, directors, and
principal shareholders have filed all reports required to be filed on,
respectively, a Form 3 (Initial Statement of
Beneficial Ownership of Securities), a Form 4 (Statement of Changes of
Beneficial Ownership of Securities), or a Form 5 (Annual Statement of
Beneficial Ownership of Securities).
 
 CodeofEthics.We do not currently have aCodeofEthics that applies
to all employees, including our principal executive officer, principal financial
officer, principal accounting officer or controller, or persons performing
similar functions. We plan to adopt a Code of Ethics.
 
 Nominating
Committee.The board of directors has no compensation
committee. We have not adopted any procedures by which security holders may
recommend nominees to our Board of Directors.
  The Board
will consider qualified candidates suggested by stockholders for director
nominations. Stockholders can suggest qualified candidates for director
nominations by writing to our Corporate Secretary, at 1683 Duarte Drive,Henderson, Nevada 89014. Submissions that are received that meet the
criteria described above will be forwarded to the Board for further review and
consideration. The Board will not evaluate candidates proposed by stockholders
any differently than other candidates
 Audit Committee.Presently,
the board of directors acts as the audit committee. The board of directors does
not have an audit committee financial expert. The board of directors has not yet
recruited an audit committee financial expert to join the board of directors
because we have only recently commenced a significant level of financial
operations.
 
 Item 10. Executive
Compensation
 
 Any
compensation received by our officers, directors, and management personnel will
be determined from time to time by our Board of Directors.  Our
officers, directors, and management personnel will be reimbursed for any
out-of-pocket expenses incurred on our behalf.
 
 Summary Compensation
Table.  The table set forth below summarizes the annual and
long-term compensation for services in all capacities to us payable to our
principal executive officer and our only other executive officer during the
years ending December 31, 2007 and 2006.
  Name
      and Principal Position
              Year
      Ended
              Salary
                $
              Bonus
                $
              Stock
      Awards
                $
              Option
      Awards
                $
              Non-Equity
      Incentive Plan Compensation
                $
              Nonqualified
      Deferred Compensation Earnings $
              All
      Other Compensation
                $
              Total
                $Brittany
      Prager president, secretary
              2007
              None
              None
              None
              None
              None
              None
              None
              None2006
              None
              None
              None
              None
              None
              None
              None
              NoneGary
      Prager, chief financial officer
              2007
              None
              None
              None
              None
              None
              None
              None
              None2006
              None
              None
              None
              None
              None
              None
              None
              None
 
 Stock Options/SAR Grants. No
grants of stock options or stock appreciation rights were made since our date of
incorporation on October 31, 2006.
  Long-Term Incentive Plans.
There are no arrangements or plans in which we provide pension, retirement or
similar benefits for directors or executive officers. We do not have any
material bonus or profit sharing plans pursuant to which cash or non-cash
compensation is or may be paid to our directors or executive
officers.
 15
 
 Employment Contracts and Termination
of Employment.We do not anticipate that we will enter into any
employment contracts with any of our employees. We have no plans or arrangements
in respect of remuneration received or that may be received by our executive
officers to compensate such officers in the event of termination of employment
(as a result of resignation or retirement).
 
 Outstanding Equity Awards at Fiscal
Year-end.As of the year ended December 31, 2007, the following named
executive officer had the following unexercised options, stock that has not
vested, and equity incentive plan awards:
 
 Option  Awards
              Stock
      AwardsName
              Number
      of Securities Underlying Unexercised Options
                #
      Exercisable
              #
      Un-
                exercisable
              Equity
                Incentive
                Plan
      Awards: Number of Securities Underlying Unexercised
Options
              Option
      Exercise Price
              Option
      Expiration
                Date
              Number
      of
                Shares
      or
                Units
      of
                Stock
      Not
                Vested
              Market
                Value
      of
                Shares
      or
                Units
      Not
                Vested
              Equity
                Incentive
      Plan Awards:
                Number
      of Unearned
                Shares,
      Units
                or
      Other
                Rights
      Not
                Nested
              Value
      of Unearned Shares,
                Units
      or
                Other
                Rights
      Not
                VestedBrittany
      Prager president, secretary
              0
              0
              0
              0
              0
              0
              0
              0
              0Gray
      Prager, chief financial officer
              0
              0
              0
              0
              0
              0
              0
              0
              0
  Director Compensation.Our
directors received the following compensation for their service as directors
during the fiscal year ended December 31, 2007:
 
 Name
              Fees
      Earned
                or
      Paid in
                Cash
              Stock
                Awards
                $
              Option
                Awards
                $
              Non-Equity
                Incentive
      Plan Compensation
                $
              Non-Qualified
                Deferred
                Compensation
                Earnings
                $
              All
      Other Compensation
                $
              Total
                $Brittany
      Prager
              0
              0
              0
              0
              0
              0
              0Gary
      Prager
              0
              0
              0
              0
              0
              0
              0
  16
  Item 11. Security Ownership
of Certain Beneficial Owners and Management and Related Stockholder
Matters.
 
 The
following table sets forth certain information regarding the beneficial
ownership of our common stock as of March 21, 2008, by each person or entity
known by us to be the beneficial owner of more than 5% of the outstanding shares
of common stock, each of our directors and named executive officers, and all of
our directors and executive officers as a group.
 
 Title
      of Class
              Name
      and Address of
                Beneficial
      Owner
              Amount
      and Nature of
                Beneficial
      Owner
              Percent
      of ClassCommon
      Stock
              Brittany
      Prager
                1683
      Duarte Drive
                Henderson,
      NV 89014
              2,000,000
      shares (1)
                president,
      secretary,
                director
              44%Common
      Stock
              Gary
      Prager
                1683
      Duarte Drive
                Henderson,
      NV 89014
              2,000,000
      shares (1)
                chief
      financial officer,
                director
              44%Common
      Stock
              All
      directors and named
                executiveofficers
      as a
                group
              4,000,000
      shares
              88%
 (1)
Brittany Prager, our president, secretary and director, who owns 2,000,000
shares, is married to Gary Prager, our chief financial officer and director, who
owns 2,000,000 shares. Therefore, each beneficially owns 4,000,000 shares of
common stock, which equals approximately 88% of our issued and outstanding
common stock.
 Beneficial
ownership is determined in accordance with the rules of the Securities and
Exchange Commission and generally includes voting or investment power with
respect to securities.  In accordance with Securities and Exchange
Commission rules, shares of our common stock which may be acquired upon exercise
of stock options or warrants which are currently exercisable or which become
exercisable within 60 days of the date of the table are deemed beneficially
owned by the optionees. Subject to community property laws, where applicable,
the persons or entities named in the table above have sole voting and investment
power with respect to all shares of our common stock indicated as beneficially
owned by them.
 
 Changes in
Control.Ourmanagement is not aware
of any arrangements which may result in “changes in control” as that term is
defined by the provisions of Item 403(c) of Regulation S-B.
 
 No Equity Compensation Plan.We do not have any securities authorized for issuance under any equity
compensation plan.  We also do not have an equity compensation plan
and do not plan to implement such a plan.
 17
 Item 12. Certain
Relationships and Related Transactions, and Director
Independence.
 
 Related Party Transactions. In
November 2006, we issued 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, or $0.001 per share.
 
 From our
inception through December 2006, Brittany Prager, our president, secretary and
one of our directors, provides approximately 200 square feet of office space to
us at no charge. Our financial statements reflect, as occupancy costs, the fair
market value of that space, which is approximately $200 per month. Total rent
expense incurred to this related party amounted to $2,400 for the year ended
December 31, 2007.
 
 On
December 28, 2006, we executed an unsecured promissory note in exchange for
$22,000 from Gary Prager, our chief financial officer.  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.
 
 There are
no written agreements for the transactions disclosed in this
section.
 
 We
believe that each report transaction and relationship is on terms that are at
least as fair to us as would be expected if those transactions were negotiated
with third parties.
 
 There
have been no other related party transactions, or any other transactions or
relationships required to be disclosed pursuant to Item 404 of Regulation
S-B.
 
 With
regard to any future related party transaction, we plan to fully disclose any
and all related party transactions, including, but not limited to, the
following:
 
 ·
              disclose
      such transactions in prospectuses where
  required;
 ·
              disclose
      in any and all filings with the Securities and Exchange Commission, where
      required;
 ·
              obtain
      disinterested directors consent;
and
 ·
              obtain
      shareholder consent where required.
 
 DirectorIndependence.Members of our
Board of Directors are not independent as that term is defined by defined in
Rule 4200(a)(15) of the Nasdaq Marketplace Rules.
  18
 
 Item 13.
Exhibits
 
 Exhibit
      #
                Description3.1
                Articles
      of Incorporation*3.2
                Bylaws*31
                Section
      302 Certifications of Chief Executive Officer and Chief Financial
      Officer.32
                Section
      906 Certifications by Chief Executive Officer and Chief Financial
      Officer.
 *Included
in Registration Statement on Form SB-2 filed on March 8, 2007.
 
 Item 14. Principal
Accountant Fees and Services.
  Audit Fees.The aggregate fees
billed in the year ended December 31, 2007, for professional services rendered
by the principal accountant for the audit of our annual financial statements and
quarterly review of the financial statements included in our Form 10-KSB and
Form SB-2 or services that are normally provided by the accountant in connection
with statutory and regulatory filings or engagements for the fiscal year
was $21,994. No such fees were billed in the year ended December 31,
2006.
 
 Audit-Related Fees. For the
year ended December 31, 2007, there were fees billed for services reasonably
related to the performance of the audit or review of the financial statements
outside of those fees disclosed above under “Audit Fees.” For the year ended
December 31, 2007, we were billed a total of $1,688 by a separate accountant for
consulting services in preparation for the annual audit and quarterly reviews of
the financial statements. No such fees were billed in the fiscal year ended
December 31, 2006.
 
 Tax Fees.For the years ended
December 31, 2007 and December 31, 2006, another separate accountant rendered
services for tax compliance, tax advice, and tax planning work for which we paid
$400 and $450, respectively.
  Pre-Approval Policies and Procedures.Prior to engaging our accountants to perform a particular service, our
board of directors obtains an estimate for the service to be performed. All of
the services described above were approved by the board of directors in
accordance with its procedures.
 19
  SIGNATURES
  Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned in the
City of Henderson, Nevada, on May 5 ,
2008.
  BLS
      Media, Inc.
                  a
      Nevada corporation/s/
      Brittany PragerBrittany
      PragerPrincipal
      executive officer
  /s/
      Gary PragerGary
      PragerChief
      financial officerTreasurer
      and a director
 
 In
accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
  /s/
      Brittany Prager
              
              
              May
      5, 2008Brittany
      PragerDirector




/s/ Gary
      Prager
              
              
              May
      5, 2008Gary
      PragerDirector








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