UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM
10-QSB



[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the
quarterly period ended  March 31, 2008

[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
EXCHANGE ACT

For the transition period from _________
to __________

Commission file number  000-52492



|                                              
|----------------------------------------------
|INDIEMV MEDIA GROUP, INC.                     
|(Name of small business issuer in its
charter)



|                                                               |  |                                     
|-------------------------------------------------------------- |  | ------------------------------------
|Nevada                                                         |  | 98-0461476                          
|(State or other jurisdiction of incorporation or
organization) |  | (I.R.S. Employer Identification No.)



|                                         |  |           
|---------------------------------------- |  | ----------
|220-425 Carrall Street, Vancouver, BC    |  | V6B 6E3   
|(Address of principal executive offices) |  | (Zip Code)

Issuers telephone number  (778) 737-8228

Securities
registered pursuant to Section 12(b) of the Act:

|                       |  |                                             
|---------------------- |  | --------------------------------------------
|Title of each classNil |  | Name of each exchange on which
registeredNil

Securities
registered pursuant to Section 12(g) of the Act:

|                
|----------------
|N/A             
|(Title of class)

Check whether the issuer: (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or
for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
     Yes [X]     No [
  ]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act).
     Yes [   ]     No [X]

State the number of shares outstanding of each of the issuers
classes of common equity, as of the latest practicable date: 50,005,654
outstanding common shares issued and outstanding as at May 14, 2008.

Transitional Small Business Disclosure Format (Check one):
     Yes [
 ]     No [X]





1



---

PART 1  FINANCIAL INFORMATION



Item
1. Financial Statements.



Our unaudited interim consolidated financial statements for the
nine month period ended March 31, 2008 form part of this quarterly report.
 They are stated in United States Dollars (US$) and are prepared in
accordance with United States generally accepted accounting principles.































INDIEMV MEDIA GROUP, INC.

(formerly Jakes Trucking International, Inc.)

(A Development Stage Company)

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2008

(Unaudited)

(Stated in US Dollars)





2



---

INDIEMV MEDIA GROUP, INC.

(formerly Jakes Trucking International, Inc.)

(A
Development Stage Company)

INTERIM
CONSOLIDATED BALANCE SHEETS

March
31, 2008 and June 30, 2007

(Unaudited)

(Stated in US Dollars)





|                                                  |                                                                                 |           |        
|------------------------------------------------- | ------------------------------------------------------------------------------- | --------- | -------
|                                                  | March 31,                                                                       | June 30, 
|ASSETS                                            | 2008                                                                            | 2007     
|                                                  |                                                                                 |          
|Current                                           |                                                                                 |          
|Cash                                              | $
13,583                                                                        | $
4,881  
|GST
receivable                                    | 27,967                                                                          | 9,871    
|Deposits
and prepaid expenses                     | 3,885                                                                           | 1,464    
|                                                  |                                                                                 |          
|                                                  | 45,435                                                                          | 16,216   
|Web-site
development                              | 460,957                                                                         | 119,535  
|Equipment                                         | 11,489                                                                          | 2,233    
|                                                  |                                                                                 |          
|                                                  | $
517,881                                                                       | $
137,984
|                                                  |                                                                                 |          
|LIABILITIES                                      
|                                                  |                                                                                 |          
|Current                                           |                                                                                 |          
|Accounts
payable and accrued liabilities  Note 6 | $
173,849                                                                       | $
73,768 
|Loans
payables  Notes 5 and 8                    | 248,591                                                                         | 99,953   
|                                                  |                                                                                 |          
|                                                  | 422,440                                                                         | 173,721  
|                                                  |                                                                                 |          
|STOCKHOLDERS
EQUITY (DEFICIENCY)                
|                                                  |                                                                                 |          
|Common stock                                      |                                                                                 |          
|Authorized:                                       |                                                                                 |          
|75,000,000                                        | common shares at $0.001 par value (June 30, 2007 
unlimited with no par value) |           |        
|Issued and outstanding:                           |                                                                                 |          
|50,005,654                                        | common shares
(June 30, 2007  25,220,000)                                      | 50,006    | 336,643
|Additional
paid-in capital                        | 6,402,366                                                                       | -        
|Deficit
accumulated during the development stage  | (6,334,549)                                                                     | (348,390)
|Accumulated
other comprehensive income (loss)     | (22,382)                                                                        | (23,990) 
|                                                  |                                                                                 |          
|                                                  | 95,441                                                                          | (35,737) 
|                                                  |                                                                                 |          
|                                                  | $
517,881                                                                       | $
137,984
|                                                  |                                                                                 |          







SEE
ACCOMPANYING NOTES

3



---

INDIEMV MEDIA GROUP, INC.

(formerly Jakes Trucking International, Inc.)

(A
Development Stage Company)

INTERIM
CONSOLIDATED STATEMENTS OF OPERATIONS

for the
three and nine months ended March 31, 2008 and 2007 and

for the
period August 2, 2006 (Date of Inception of the Development Stage)

to March
31, 2008

(Unaudited)

(Stated in US Dollars)



|                                              |                    |            |                       |                           |               | 
|--------------------------------------------- | ------------------ | ---------- | --------------------- | ------------------------- | ------------- | 
|                                              |                    |            |                       | August 2, 2006           
|                                              |                    |            | Nine months           | (Date of Inception of the
|                                              | Three months ended | Ended      | Development Stage) to
|                                              | March 31,          | March 31,  | March 31,            
|                                              | 2008               | 2007       | 2008                  | 2007                      | 2008         
|Operating
expenses                            |                    |            |                       |                           |              
|Accounting and audit fees                     | $
23,853           | $
649      | $
65,732              | $
649                     | $
69,319     
|Bank charges and interest                     | 707                | 585        | 1,901                 | 686                       | 2,893        
|Consulting fees                               | -                  | 7,956      | 23,297                | 12,086                    | 137,170      
|Depreciation                                  | 1,305              | -          | 3,480                 | -                         | 3,874        
|Insurance                                     | -                  | -          | 1,926                 | -                         | 2,376        
|Interest on loans payable                     | 6,895              | -          | 37,721                | -                         | 38,834       
|Legal fees                                    | 3,526              | 4,991      | 30,465                | 6,761                     | 39,660       
|Management fees  Note 6                      | 99,461             | 16,149     | 263,156               | 33,402                    | 330,389      
|Marketing fees -  Note 6                      | 19,025             | 4,170      | 211,083               | 6,876                     | 244,595      
|Office and administration                     | 18,744             | 259        | 34,605                | 779                       | 36,892       
|Rent                                          | 8,135              | -          | 20,579                | -                         | 22,813       
|Salaries and wages  Note 6                   | 142,298            | -          | 296,206               | -                         | 296,206      
|Telephone                                     | 860                | 1,088      | 1,824                 | 1,587                     | 8,453        
|Travel and entertainment                      | 40,077             | 14,661     | 102,898               | 18,559                    | 143,724      
|Web-site costs                                | 27,250             | 11,032     | 27,777                | 16,659                    | 93,842       
|                                              |                    |            |                       |                           |              
|Net loss before
other items                   | (392,136)          | (61,540)   | (1,122,650)           | (98,044)                  | (1,471,040)  
|                                              |                    |            |                       |                           |              
|Other
items:                                  |                    |            |                       |                           |              
|Loss
on debt settlement  Note 5              | (4,863,509)        | -          | (4,863,509)           | -                         | (4,863,509)  
|                                              |                    |            |                       |                           |              
|Net loss for
the period                       | (5,255,645)        | (61,540)   | (5,986,159)           | (98,044)                  | (6,334,549)  
|                                              |                    |            |                       |                           |              
|Other
comprehensive income (loss)             |                    |            |                       |                           |              
|Foreign
currency translation
adjustment       | 13,783             | (1,963)    | 1,608                 | (864)                     | (22,382)     
|                                              |                    |            |                       |                           |              
|Comprehensive
loss for the period             | $
(5,241,862)      | $
(63,503) | $
(5,984,551)         | $
(98,908)                | $
(6,356,931)
|                                              |                    |            |                       |                           |              
|Basic and diluted loss per share              | $
(0.09)           | $
0.00     | $
(0.16)              | $
0.00                    |              
|                                              |                    |            |                       |                           |              
|Weighted average number of
shares outstanding | 56,360,642         | 20,851,272 | 37,036,212            | 20,229,703                |              







SEE
ACCOMPANYING NOTES

4



---

INDIEMV MEDIA GROUP, INC.

(formerly Jakes Trucking International, Inc.)

(A
Development Stage Company)

INTERIM
CONSOLIDATED STATEMENTS OF CASH FLOWS

for the
nine months ended March 31, 2008 and 2007 and

for the
period August 2, 2006 (Date of Inception of the Development Stage)

to March
31, 2008

(Unaudited)

(Stated in US Dollars)



|                                                                   |               |                           |              
|------------------------------------------------------------------ | ------------- | ------------------------- | -------------
|                                                                   |               | August 2, 2006           
|                                                                   | Nine months   | (Date of Inception of the
|                                                                   | Ended         | Development Stage) to    
|                                                                   | March 31,     | March 31,                
|                                                                   | 2008          | 2007                      | 2008         
|Operating
Activities                                               |               |                           |              
|Net
loss for the period                                            | $
(5,986,159) | $
(98,044)                | $
(6,334,549)
|Add
items not involving cash:                                      |               |                           |              
|Depreciation                                                       | 3,480         | -                         | 3,874        
|Issuance
of common shares for services                             | -             | -                         | 104,817      
|Interest
expense                                                   | 37,721        | -                         | 37,721       
|Loss
on settlement of debt                                         | 4,863,509     | -                         | 4,863,509    
|Changes
in non-cash working capital balances
related
to operations |               |                           |              
|GST
receivable                                                     | (18,096)      | (2,647)                   | (27,331)     
|Deposits
and prepaid expenses                                      | (2,421)       | -                         | (3,790)      
|Accounts
payable and accrued liabilities                           | 100,081       | 60,037                    | 169,091      
|                                                                   |               |                           |              
|Cash used in
operating activities                                  | (1,001,885)   | (40,654)                  | (1,186,658)  
|                                                                   |               |                           |              
|Investing
Activities                                               |               |                           |              
|Cash
acquired on acquisition of Jakes  Note 4                    | 38,911        | -                         | 38,911       
|Purchase
of equipment                                              | (12,736)      | (2,413)                   | (15,363)     
|Web-site
development costs                                         | (341,422)     | (100,814)                 | (460,957)    
|                                                                   |               |                           |              
|Cash used in
investing activities                                  | (315,247)     | (103,227)                 | (437,409)    
|                                                                   |               |                           |              
|Financing
Activities                                               |               |                           |              
|Common
stock issued for cash                                       | -             | 146,307                   | 231,826      
|Loans
payable                                                      | 1,363,137     | 8,674                     | 1,463,090    
|                                                                   |               |                           |              
|Cash provided
by financing activities                              | 1,363,137     | 154,981                   | 1,694,916    
|                                                                   |               |                           |              
|Effect of
foreign currency translation on cash                     | 1,608         | (864)                     | (18,355)     
|                                                                   |               |                           |              
|Increase in
cash during the period                                 | 47,613        | 10,236                    | 52,494       
|                                                                   |               |                           |              
|Cash at the
beginning of the period                                | 4,881         | -                         | -            
|                                                                   |               |                           |              
|Less: cash,
discontinued operations  Note 4                       | (38,911)      | -                         | (38,911)     
|                                                                   |               |                           |              
|Cash at the end
of the period                                      | $
13,583      | $
10,236                  | $
13,583     



Non-cash Transactions
 Note 7



SEE
ACCOMPANYING NOTES

5



---







INDIEMV MEDIA GROUP, INC.

(formerly Jakes Trucking International, Inc.)

(A
Development Stage Company)

INTERIM
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY)

for the
period August 2, 2006 (Date of Inception) to March 31, 2008

(Unaudited)

(Stated in US Dollars)



|                                                                                                          |              |            |             |               |               |            
|--------------------------------------------------------------------------------------------------------- | ------------ | ---------- | ----------- | ------------- | ------------- | -----------
|                                                                                                          |              |            |             | Deficit       |               |            
|                                                                                                          |              |            |             | Accumulated   | Accumulated   |            
|                                                                                                          | Common Stock | Additional | During the  | Other         |              
|                                                                                                          | Issued       |            | Paid-in     | Development   | Comprehensive |            
|                                                                                                          | Shares       | Amount     | Capital     | Stage         | Loss          | Total      
|Common stock
issued for cash                                                                              |              |            |             |               |               |            
|-
Pursuant to subscription agreements
-
at $0.0001                                                        | 20,000,000   | $
2,000    | $
-         | $
-           | $
-           | $
2,000    
|-
at $0.0944                                                                                              | 2,060,000    | 194,526    | -           | -             | -             | 194,526    
|-
at $0.1412                                                                                              | 250,000      | 35,300     | -           | -             | -             | 35,300     
|Common stock
issued for services                                                                          |              |            |             |               |               |            
|-
Pursuant to subscription agreements
-
at $0.0944                                                        | 910,000      | 85,931     | -           | -             | -             | 85,931     
|-
at $0.0094                                                                                              | 2,000,000    | 18,886     | -           | -             | -             | 18,886     
|Net loss for
the period                                                                                   | -            | -          | -           | (348,390)     | -             | (348,390)  
|Foreign
currency translation adjustment                                                                   | -            | -          | -           | -             | (23,990)      | (23,990)   
|                                                                                                          |              |            |             |               |               |            
|Balance, June
30, 2007                                                                                    | 25,220,000   | 336,643    | -           | (348,390)     | (23,990)      | (35,737)   
|Adjustment to
the number of shres outstanding as a result
of the
acquisition of IndieMV Media Group, Inc. |              |            |             |               |               |            
|IndieMVMedia
Group, Inc.                                                                                  | (25,220,000) | (336,643)  | -           | 348,390       | 23,990        | 35,737     
|Jakes
Trucking International, Inc.                                                                       | 75,000,000   | 75,000     | 261,643     | (348,390)     | (23,990)      | (35,737)   
|Jakes
Trucking International, Inc. common shares
rescinded
and cancelled                                 | (48,600,000) | (48,600)   | (102,940)   | -             | -             | (151,540)  
|Common shares
issued in connection with the acquisition of
IndieMVMedia
Group, Inc.  Note 4              | 17,600,000   | 17,600     | 133,940     | -             | -             | 151,540    
|Common
share issued to extinguish debt
-
at $1.01                                                         | 6,005,654    | 6,006      | 6,059,705   | -             | -             | 6,065,711  
|Shareholder
contributions  Note 5                                                                        | -            | -          | 50,018      | -             | -             | 50,018     
|Net loss for
the period                                                                                   | -            | -          | -           | (5,986,159)   | -             | (5,986,159)
|Foreign
currency translation adjustment                                                                   | -            | -          | -           | -             | 1,608         | 1,608      
|                                                                                                          |              |            |             |               |               |            
|Balance, March
31, 2008                                                                                   | 50,005,654   | $
50,006   | $
6,402,366 | $
(6,334,549) | $
(22,382)    | $
95,441   





SEE
ACCOMPANYING NOTES

6



---







INDIEMV MEDIA GROUP, INC.

(formerly Jakes Trucking International, Inc.)

(A
Development Stage Company)

NOTES TO
THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

March
31, 2008

(Unaudited)

(Stated in US Dollars)





Note
1

Interim
Consolidated Financial Statement



While the information presented in the accompanying March 31, 2008
interim consolidated financial staements is unaudited, it includes all
adjustments which are, in the opinion of management, necessary to present fairly
the financial position, results of operations and cash flows for the interim
period presented in accordance with the accounting principles generally accepted
in the United States of America.  In the opinion of management, all
adjustments considered necessary for a fair presentation of the results of
operations and financial position have been included and all such adjustments
are of a normal recurring nature.  Operating results for the nine
 months ended March 31, 2008 are not necssarily indicative of the results
that can be expected for the year ending June 30, 2008.



On September 1, 2007, the Company (IndieMV Media Group, Inc.,
formerly Jakes Trucking International, Inc.)entered into an Agreement and Plan of Merger (the Merger Agreement)
with IndieMV Media Group, Inc. (IndieMV).  Upon closing of the
transaction, on December 24, 2007, the former shareholders of IndieMV held
approximately 40% of the issued and outstanding common shares of the Company and
in accordance with SFAS No. 141 the acquiring entity has been identified as
IndieMV.  As such, the acquisition of IndieMV was recorded as a reverse
acquisition for accounting purposes.  IndieMV, the acquired entity, is
regarded as the predecessor entity as of December 24, 2007 and the Company
adopted the year end of IndieMV, being June 30. In accordance with the
provisions governing the accounting for reverse acquisitions (Note 4), the
figures presented as at June 30, 2007 are those of IndieMV.  These
consolidated financial statements should be read in conjunction with the audited
financial statements of IndieMV which were included in the Form 8K filed with
the Securities and Exchange Commission (SEC) on January 2, 2008.



Note 2

Nature of Operations and Ability to Continue as a Going
Concern



The Company (IndieMV Media Group, Inc., formerly Jakes Trucking
International, Inc.) was incorporated in the State of Nevada on May 27, 2005.
 The Company changed its name from Jakes Trucking International, Inc. to
IndieMV Media Group, Inc. effective February 19, 2008.



The Companys principal business is the preparation of a web site
and music download service for independent and small record label artists that
are not serviced by the major download sites.  The Company owned 100% of
the common shares of Jakes Trucking International B.C. Ltd. (Jakes), a
British Columbia, Canada  company, whose primary business is the rental of
dump trucks.  During the nine months ended March 31, 2008,  Jakes was
disposed of for a net loss of $151,540 (Note 4).



7



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 2



Note 2

Nature of Operations and Ability to Continue as a Going
Concern  (contd)



On December 24, 2007, the Company acquired 100% of the common
shares of IndieMV Media Group, Inc. (IndieMV).  IndieMVs business has
become the Companys principle business, as noted above.  This transaction
is deemed to be a reverse acquisition of IndieMV and these consolidated
statements are a continuation of the operations of IndieMV (Note 4).  The
Company is a development stage company.



IndieMV was incorporated on August 2, 2006 under the laws of
British Columbia, Canada.  At March 31, 2008, substantially all of the
Companys assets and operations are located in Canada.



These consolidated financial statements have been prepared in
accordance with generally accepted accounting principles applicable to a going
concern, which assumes that the Company will be able to meet its obligations and
continue its operations for its next twelve months.  Realization values may
be substantially different from carrying values as shown and these consolidated
financial statements do not give effect to adjustments that would be necessary
to the carrying values and classification of assets and liabilities should the
Company be unable to continue as a going concern.  At March 31,  2008,
the Company had not yet achieved profitable operations, has accumulated losses
of $6,334,549 since its inception, has a working capital deficiency of $377,005
and expects to incur further losses in the development of its business, all of
which casts substantial doubt about the Companys ability to continue as a going
concern.  The Companys ability to continue as a going concern is dependent
upon its ability to generate future profitable operations and/or to obtain the
necessary financing to meet its obligations and repay its liabilities arising
from normal business operations when they come due.  Management has no
formal plan in place to address this concern but considers that the Company will
be able to obtain additional funds by equity financing and/or related party
advances, however there is no assurance of additional funding being
available.



Note
3

Summary
of Significant Accounting Policies



The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in the United States of
America.  Because a precise determination of many assets and liabilities is
dependent upon future events, the preparation of financial statements for a
period necesssarily involves the use of estimates, which have been made using
careful judgment.  Actual results may vary from these estimates.



The following significant accounting policies, for the purposes of
these interim financial statements, are only those policies that do not
duplicate the disclosures contained in the Companys annual June 30, 2007
financial statements included in the Form 8K filed with the SEC on January 2,
2008.



8



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 3



Note
3

Summary
of Significant Accounting Policies  (contd)



a)

Principles of Consolidation



The consolidated financials statements include the accounts of the
Company and its wholly owned subsidiary, IndieMV.  The consolidation of
IndieMV has been recorded on a reverse acquisition basis (Note 4).  All
intercompany transactions have been eliminated.



b)

Development Stage



The Company is a development stage company as defined in the
Financial Accounting Standards Board (FASB) Statement of Financial Accounting
Standards (SFAS) No. 7 as it is devoting substantially all of its efforts to
establish a new business and planned principal operations have not commenced.
 All losses accumulated since inception have been considered as part of the
Companys development stage activities.



c)

Foreign
Currency Translation



The Companys functional currency is in Canadian dollars as
substantially all of the Companys operations are in Canada.  The Company
used the United States dollar as its reporting currency for consistency with
registrants of the Securities and Exchange Commission (SEC) and in accordance
with the SFAS No. 52, Foreign Currency Translation statement.



Assets and liabilities that are denominated in a foreign currency
are translated at the exchange rate in effect at the period-end and capital
accounts are translated at historical rates.  The statement of operations
accounts are translated at the average rates of exchange prevailing during the
period.  Translation adjustments from the use of different exchange rates
from period to period are included in the Comprehensive Income account in
Stockholders Equity, if applicable.



Transactions undertaken in currencies other than the functional
currency of the entity are translated using the exchange rate in effect as of
the transaction date.  Any exchange gains and losses are included in
operating expenses on the Statement of Operations.



d)

Cash
and Cash Equivalents



The Company considers all cash on hand and in banks, certificates
of deposit and other highly-liquid investments with maturities of three months
or less, when purchased, to be cash equivalents.



9



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 4



Note
3

Summary
of Significant Accounting Policies  (contd)



e)

Web
Site Costs



The Company accounts for web site costs maintenance with Statement
of Position (SOP) No. 98-1, Accounting for Costs of Computer Software
Developed or Obtained for Internal Use, SFAS No. 86, Accounting for the Costs
of Computer Software to be Sold, Leased, or Otherwise Marketed and EITF 00-2,
Accounting for Web Site Development Costs.  Accordingly web site
development costs that are incurred during the application and web site
infrastructure stage and the graphic and content development stages are
capitalized.



The Companys management has also determined that it is probable
the project will be completed and the software will be used as intended.
 The capitalized costs of web site development will be amortized over three
years on a straight-line basis upon completion of its development and
commencement of its use.



Web site costs incurred during the planning stage and
pre-operating stage are expensed as incurred.



f)

Financial Instruments



The carrying value of the Companys financial instruments,
consisting of cash, accounts payable and accrued liabilities and loans payable
approximate their fair value due to the short maturity of such instruments.
 Unless otherwise noted, it is managements opinion that the Company is not
exposed to significant interest or credit risks arising from these financial
instruments.



The Company is subject to foreign exchange price risk as it has
certain financial instruments which are denominated in foreign currencies.
 Included in cash is funds denominated in US dollars totalling US$16,334.
 The Company does not use derivative instruments to reduce its exposure to
fluctuations in exchange rates.



Note 4

Acquisition



On September 1, 2007, the Company entered into an Agreement and
Plan of Merger (the Merger Agreement) with IndieMV.  On December 24,
2007, the closing date, and the deemed date of the acquisition of IndieMV, the
Company acquired 100% of the issued and outstanding stock of IndieMV in
consideration for the issuance of 17,600,000 common shares of the Company.
 The acquisition was closed pursuant to the Merger Agreement, as changed
and amended by the Closing Certificate, also dated December 24, 2007.



10



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 5



Note 4

Acquisition  (contd)



In addition, the Company has agreed to issue a share bonus (the
Share Bonus) to the stockholders of IndieMV existing immediately prior to the
Merger, with the Share Bonus being triggered when the Company achieves a
milestone of 250,000 unique users and the Share Bonus shall be equal to that
number of shares which will increase the shareholdings of the stockholders of
IndieMV existing immediately prior to the Merger to 60% of the Companys
outstanding common stock as at the date the 250,000 unique user milestone is
achieved.  This is considered contingent consideration and no value has
been recorded for this portion of the acquisition.



This transaction has been accounted for using the purchase method
of accounting, as a reverse acquisition because the former stockholders of
IndieMV controlled 40% of the issued and outstanding shares of the Company.
 In accordance with SFAS No. 141, the acquiring entity has been identified
as IndieMV.  The Company is the legal parent and is deemed to be a
continuation of the business of the legal subsidiary, IndieMV.  The
post-acquisition entity is accounted for as a recapitalization of IndieMV.
 The value assigned to the common shares was based on the fair value of the
net assets of Jakes at the recapitalization date which approximated the
carrying value of $151,540.  The operations of the Company are not included
in the consolidated statement of operations from the effective date of the
acquisition, December 24, 2007, as there were no operations undertaken by the
Company after that date to the date of disposal of Jakes on January 14,
2008.



On January 14, 2008, the former president of the Company sold
48,600,000 common shares of the Company owned by him to a designee of the
Company in exchange for a $60,000 promissory note.  Also on January 14,
2008, the Company disposed of 100% of the issued and outstanding shares of
Jakes to the former president of the Company by means of an assignment of this
$60,000 promissory note to the Company.  The disposal of Jakes, a related
party transaction, has been recorded as a disposal at the carrying value of
Jakes, $151,540, and consequently, there is no effect on the statements of
operations.



Finally, the promissory note was paid by the return to the Company
of the 48,600,000 common shares, which were then rescinded and cancelled by the
Company.



The Merger Agreement also provided for the Company to have a 10
for 1 forward split in its shares, which was effective on September 28, 2007.
 Consequently, the number of common shares presented throughout these
consolidated financial statements has been retroactively restated to reflect
this forward split.



11



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 6



Note 4

Acquisition  (contd)



The fair value of the net assets acquired of the Company at
December 24, 2007 are as follows:



|                          |          
|------------------------- | ---------
|Total assets              | $
610,715
|Total liabilities assumed | (459,175)
|                          |          
|Net assets acquired       | $
151,540



For the purposes of this acquisition, the fair value of the net
assets of the Company are ascribed to the value of the shares issued to acquire
IndieMV.  The net assets ascribed are also the net assets held for
disposal.



Under reverse acquisition accounting, the comparative figures
would be those of IndieMV.  The consolidated statement of operations
figures are presented for the three and nine months ended March 31, 2008 and
2007, as the Company changed its year end from September 30 to June 30, the year
end of IndieMV.



The consolidated statements of operations and cash flows for the
period ended March 31, 2008 do not include the results of operation or cash
flows of the legal parent, the Company, for the period from October 1, 2007 to
December 24, 2007, the date of the reverse acquisition. Operations and cash
flows of the Company for October 1, 2007 to December 24, 2007 are as
follows:



Statement of operations:



|            |          
|----------- | ---------
|Net revenue | $
160,587
|Expenses    | (119,760)
|            |          
|Net income  | $
40,827 



Statement
of cash flows:



|                                   |         
|---------------------------------- | --------
|Operating activities               | $
83,813
|Financing activities               | (46,337)
|Foreign currency adjustment        | (5,205) 
|                                   |         
|Increase in cash during the period | 32,271  
|Cash, October 1, 2007              | 6,640   
|                                   |         
|Cash, at December 24, 2007         | $
38,911



12



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 7



Note
5

Loans
Payable  Note 8



|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | --------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | March 31, | June 30,
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2008      | 2007    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         
|Promissory
note repayable in Canadian dollars (CDN$50,000), unsecured, bears no
specific terms of interest or repayment, due to a company controlled by a
significant shareholder of the Company.  This loan was paid during
the period ending March 31, 2008.                                                                                                                                                                                                                                                                       | $
-       | $
47,215
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         
|Promissory
note repayable in Canadian dollars (CDN$20,000), unsecured, bears interest
at 1% per month or part thereof and was due December 31, 2007.  The
lender has the option for the principal and/or interest to be paid in cash
or common shares of the Company at $0.55 per share.  The loan and
related interest was repaid by a shareholder of the company during the
nine months ended March 31, 2008.  The Company has recorded this
repayment as shareholder contributions as the shareholder will not request
repayment. | -         | 18,886  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         
|Promissory
note repayable in Canadian dollars (CDN$25,000), unsecured, bears interest
at 1% per month or part thereof and was due December 31, 2007. The loan
and related interest was repaid by a shareholder of the company during the
nine months ended March 31, 2008.  The Company has recorded this
repayment as shareholder contributions as the shareholder will not request
repayment.                                                                                                                                      | -         | 23,607  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         
|Promissory
note repayable in Canadian dollars (CDN$10,000), unsecured, bears interest
at 10% per annum and is due on June 30, 2008.                                                                                                                                                                                                                                                                                                                                                                                                  | 9,742     | 9,443   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         
|Advances
from a significant shareholder, unsecured and bears no specific terms of
interest or repayment.                                                                                                                                                                                                                                                                                                                                                                                                                             | -         | 802     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |           |         

/contd



13



---







IndieMV Media Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 8



Note
5

Loans
Payable  (contd)  Note 8



|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |         
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | --------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | March 31, | June 30,
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2008      | 2007    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |         
|The
Company entered in to an agreement whereby it would periodically receive
cash advances, to be repaid in Canadian dollars (at December 31, 2007:
CDN$1,016,212) within 12 months of such an advance at 10% interest,
unsecured. During the during the nine months ended March 31, 2008, these
advances, along with additional advances totalled $1,171,562 (CDN
$1,196,081).  This balance and the accrued interest of $30,640 (CDN
$31,281), totaling $1,202,202 (CDN $1,227,362) were paid by the issuance
of 6,005,654 common shares of the Company at $0.20 (CDN $0.20) per share.
 The Company recorded a loss on debt settlement of $4,863,509
representing the difference between the fair value of the shares issued of
$6,065,711 and the actual amount of the debt $1,202,202 (CDN
$1,227,362). | -         | -       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |         
|Promissory
note repayable in Canadian dollars (CDN $241,344) within 12 months of the
advance of funds, bears interest at 10% per annum, and is unsecured.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 235,122   | -       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 244,864   | 99,953  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |         
|Interest
accrued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 3,727     | -       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |           |         
|Total loans payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $
248,591 | $
99,953





14



---







IndieMVMedia Group,
Inc.

(formerly Jakes
Trucking International, Inc.)

(A Development Stage
Company)

Notes to the Interim
Consolidated Financial Statements

March 31, 2008

(Unaudited)

(Stated in US
Dollars)  Page 9



Note
6

Related
Party Transactions  Note 4



The Company incurred the following charges with directors and
significant shareholders of the Company and companies with common directors and
shareholders during the nine months ended March 31, 2008 and 2007:



|                   |           |         
|------------------ | --------- | --------
|                   | March 31,
|                   | 2008      | 2007    
|                   |           |         
|Management
fees    | $
210,067 | $
34,228
|Marketing fees     | 75,983    | 8,834   
|Salaries and
wages | 97,044    | -       
|                   |           |         
|                   | $
383,094 | $
43,062



As at March 31, 2008, included in accounts payable is $33,715
(June 30, 2007: $21,309) owing to a director and officers of the Company with
respect to unpaid expenses.



Note
7

Non-Cash
Transactions



Investing and financing activities that do not have a direct
impact on the current cash flow are excluded from the statement of cash flows.
 During the period ended June 30, 2007, the Company issued 2,910,000 common
shares for a total of $104,817 in exchange for management and marketing fees.
 These shares and related fees were valued based on the fair value of the
shares at the time of issuance.  During the nine month period ended March
31, 2008, the Company completed the acquisition of IndieMV and issued 17,600,000
common shares recorded as the fair value of the assets of the Company at the
recapitalization date which approximated the carrying value of $151,540.
 On January 14, 2008 the Company disposed of Jakes in effect for the
cancellation of 48,600,000 common shares, recorded at the carrying value of
Jakes, $151,540. During the nine month period ended March 31, 2008, the Company
repaid loans with principle balances of $1,171,562 (CDN$1,196,081) together with
accrued interest of $30,640 (CDN$31,281) by issuing 6,005,654 common shares to
the lenders.



These
transactions are excluded from the statements of cash flows.



Note
8

Subsequent
Events



Subsequent to March 31, 2008, the Company received advances with
respect to a promissory note of $81,511 (CDN$82,500) and $149,970, both
repayable within 12 months of such an advance at 10% interest per annum.
 These promissory notes are unsecured.







15



---







Item 2.  Management's
Discussion and Analysis or Plan of Operations

Forward-Looking
Statements

This quarterly report contains
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995.  These statements relate to future events or
our future financial performance.  In some cases, you can identify
forward-looking statements by terminology such as "may", "should", "expects",
"plans", "anticipates", "believes", "estimates", "predicts", "potential" or
"continue" or the negative of these terms or other comparable terminology. 
These statements are only predictions and involve known and unknown risks,
uncertainties and other factors, including the risks in the section entitled
"Risk Factors" that may cause our or our industry's actual results, levels of
activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by
these forward-looking statements.

Although we believe that the
expectations reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements.  Except as required by applicable law, including the
securities laws of the United States, we do not intend to update any of the
forward-looking statements to conform these statements to actual results.

Our unaudited interim
consolidated financial statements are stated in United States dollars and are
prepared in accordance with United States generally accepted accounting
principles.  The following discussion should be read in conjunction with
our company's audited consolidated financial statements and 10KSB for the year
ended September 30, 2007 and unaudited interim consolidated financial statements
and the related notes that appear elsewhere in this quarterly report

In this quarterly report, unless
otherwise specified, all references to "common shares" refer to common shares in
the capital of our company and the terms "we", "us" and "our" mean IndieMV Media
Group, Inc. and our subsidiary.

Overview

We are a Nevada corporation
incorporated on May 27, 2005 under the name "Jake's Trucking International,
Inc."  We were initially in the truck rental and trucking service business
transporting gravel to construction sites throughout the lower mainland in
British Columbia.

Effective February 19, 2008, we
changed our name from Jake's Trucking International, Inc. to IndieMV Media
Group, Inc. to better reflect the direction of our business.

In September, 2007, we
contracted with IndieMV Media Group, Inc., a British Columbia corporation
("Indie BC"), to acquire 100% of their company in exchange for 17,600,000 of our
common shares.  We effected a 10 for 1 forward split in our stock and
closed the acquisition of Indie BC on December 24, 2007.   Pursuant to
the terms of this transaction, we were contractually bound to sell our BC
Trucking Subsidiary, Jake's Trucking International, Inc., a British Columbia
corporation to former CEO Michael Quesnel in consideration for the rescission of
his 48,600,000 common shares in the Company.  We sold Mr. Quesnel our
trucking subsidiary on January 31, 2008 and the rescission of Mr. Quesnel's
shares was completed at that time.

Subsequent to the acquisition of
Indie BC, we became primarily engaged in the business of developing our on-line
social networking community centered around independent music.   We
currently have four employees.  We consider our employee relations to be
good and to date we have experienced no work stoppages, strikes, or labor
disputes.  None of our employees are covered by a collective bargaining
agreement. There are no employee agreements directly with our company, although
Ricardo Khayatte, Jr., Ricardo Khayatte, Sr. and Tim Flanagan all have
employment contracts with our wholly owned subsidiary, Indie BC.  Our
social networking community related to independent music is now the sole
business of our company.??

Cash Requirements

We are anticipating the launch
of our full social networking community and commerce/content delivery engine by



16



---







June 2008.  We intend to
reach a milestone of 250,000 unique users by September 2008.   We
anticipate our first revenues from music purchases on our website and from
advertising by September 2008, though such revenues will likely be
minimal.   We anticipate having these operations more developed and
having substantially more revenues by the end of our fiscal year ending June 30,
2009. Over the next 12 months we intend to:

Expand our web
operations by:

·

Signing additional artists and music
labels to be added to the IndieMV on-line catalog;

·

Developing our mobile offering,
including concluding agreements with wireless carriers and/or mobile
partners;

·

Acquiring complimentary websites
which can substantially grow the IndieMV community in viewership and
revenue;

Continue Site developments and
enhancements.



·

Complete on acquisitions that make
sense to the continued company development and growth that would grow the
www.IndieMV.com viewership, userbase and revenue.



·

Focus on improving
efficiency and utilizing creative and aggressive marketing initiatives.



·

We will continue our
marketing activities through such innovative partnerships as the one with UNICEF
and the Unite Against AIDS concert in addition to maintaining a presence at
events such as the South by Southwest Music Festival that was held in Austin,
Texas last quarter.

During the next twelve
months, we intend to continue to make efforts to increase our unique users to
more than 1,000,000.  Over the next twelve months we expect that our number
of employees will increase.  We will especially require employees in the
areas of technology and web development, marketing and business development.
 We cannot predict with certainty what revenues we can expect during the
next twelve months, though we do anticipate having revenues but we believe that
we will not have enough revenue to pay our operating and development expenses
for the next twelve months and will need to raise additional funds.  There
are no assurances that we will be able to obtain further funds required for our
continued operations.  There can be no assurance that additional financing
will be available to us when needed or, if available, that it can be obtained on
commercially reasonable terms.  If we are not able to obtain the additional
financing on a timely basis, we will be unable to conduct our operations as
planned, and we will not be able to meet our other obligations as they become
due.  In such event, we will be forced to scale down or perhaps even cease
our operations.

Results of Operations for the
three months ending March 31, 2008 compared to the three months ended March 31,
2007.

We did not earn any revenues
during the three month period ending March 31, 2008. During the three month
period ended March 31, 2008, we incurred operating expenses in the amount of
$392,136, compared to operating expenses of $61,540 incurred during the
same period in 2007. These operating expenses were comprised of accounting and
audit fees of $23,853 (2007: $649), management fees of $99,461 (2007: $16,149),
legal fees of $3,526 (2007: $4,991), bank charges and interest of $707 (2007:
$585), interest on loan payable of $6,895 (2007: $Nil), marketing fees of
$19,025 (2007: $4,170), office and administration of $18,744 (2007: $259), rent
of $8,135 (2007: $Nil), salaries and wages of $142,298 (2007: $Nil), telephone
of $860 (2007: $1,088), travel and entertainment of $40,077 (2007: $14,661) and
website costs of $27,250 (2007: $11,032).

In addition to the operating
losses, we have incurred a loss of $22,382 due to foreign currency translation
and losses from extraordinary items including loss on debt settlement of
$4,863,509.

In this past quarter the company has been
able to achieve several milestones. The continued website development of the
companys web property www.indieMV.com has resulted in a more stable web
experience and multiple new social networking features including IP (internet
Protocol) sensitive user content.   This means IndieMV.com can now
instantly populate its Homepage with regional Marketplace and Events listings to
match the visitors locale. Also in this latest version, Events and Marketplace
listings are being enriched with additional data being imported to



17



---







the site from Craigslist, a centralized
network of online communities featuring free classified advertisements, and
Eventful, a web-based events and venues database to which anyone may add
information about events, venues, and performers. Additional development and
enhancements also include:



·

An enhancement of the
relevance of its advertising messaging by evolving to the use of Google-driven
banner advertising which is also automatically regionalized to the users
geographic location.



·

New MP3 Uploading Features for
Artists and Player Options for Consumers



·

The ability for artists
and record labels can create albums, upload album art, and upload tracks for
each album automatically in addition to the ability to let artists tag their
tracks so that fans can find them more easily.



·

A new player that
features include music and video tabbing capabilities, the ability to create a
video and music playlist, and an enhanced function enabling user to scroll
through their music playlist and their videos using a three-dimensional
graphical user interface much like the Cover Flow UI made familiar by iTunes,
the Macintosh Finder, and other Apple Inc. products for visually examining
through files and digital media libraries via cover artwork.



·

Featuring an overall
new look and feel, the IndieMV.com Home Page now features drop-down menus giving
visitors the option of checking the music scene in other countries and cities
around the world. The Events and Marketplace Views, now on the Home Page as
well, automatically repopulate to reflect the scene chosen by the visitor.
New, prominently positioned, and easily navigable UploadVideo and Upload Track
buttons have been incorporated as well. From the Music Page, members can browse
tracks and add tracks to their playlist.



·

A more streamlined
Registration process has also been innovated on IndieMV in this latest version.
With the new process the artist/label/member selection process and options are
more intuitive; important features and images are highlighted on the
registration page and new text and images appear on the profile pages after the
registration process is complete.



Other milestones and achievements this quarter
include:



The announcement of an Industry first revenue model (100%
net Proceeds to artist or label in addition to an Ad Revenue Component)



Content distribution agreement with Red Eye Distribution
-this agreement adds 20,000 tracks from over 200 labels, including
Redeye Distributions own in-house labels such as Yep Roc Records, Eleven
Thirty, and Bonfire Redeye Distribution was built with the goal of providing the
best possible service to its customers and its distributed labels (GSL, eenie
meenie, Flameshovel, Friendly Fire, Luaka Bop, Daptone & Warp) and artists
(Public Enemy, Over the Rhine, The Donnas, Greg Brown, Lisa Loeb) offering a
diverse but selective catalog of quality music and a knowledgeable staff
passionate about getting music into the marketplace.



Content distribution agreement with Triple Vision



The targeting of several acquisition targets  that if
completed will grow the IndieMV community in viewership and revenue



A showcased launch of the www.IndieMV.com website and new
features at the South by Southwest Music and Media Conference in Austin,
Texas.



Purchase of Significant
Equipment

We do not intend to purchase any
significant equipment over the twelve months ending March 31, 2009.



18



---







Employees

We currently have four (4)
employees.  We do expect to increase the number of employees on the website
development and marketing side of the business over the next twelve
months.

Off-Balance Sheet
Arrangements

We have no off-balance sheet
arrangements as of March 31, 2008.

Liquidity and Capital
Resources

As at March 31, 2008, our
company had $45,435 in current assets, including $13,583 in cash,
$27,967 in GST receivable and $3,885 in deposits and prepaid
expenses.  As at March 31, 2008 we had working capital deficiency of
$377,005.

We have not generated any
revenue since inception and are dependent upon obtaining financing to pursue our
business activities. For these reasons, our auditors believe that there is
substantial doubt that we will be able to continue as a going concern.

Going Concern

We have suffered recurring
losses from operations.  The continuation of our company as a going concern
is dependent upon our company attaining and maintaining profitable operations
and raising additional capital.  The  financial statements do not
include any adjustment relating to the recovery and classification of recorded
asset amounts or the amount and classification of liabilities that might be
necessary should our company discontinue operations.  Due to the
uncertainty of our ability to meet our current operating expenses and the
capital expenses noted above, in their report on the annual consolidated
financial statements for the period ended June 30, 2007, our independent
auditors included an explanatory paragraph regarding concerns about our ability
to continue as a going concern.  Our financial statements contain
additional note disclosures describing the circumstances that lead to this
disclosure by our independent auditors.

The continuation of our business
is dependent upon us raising additional financial support.  The issuance of
additional equity securities by us could result in a significant dilution in the
equity interests of our current stockholders.  Obtaining commercial loans,
assuming those loans would be available, will increase our liabilities and
future cash commitments.

There are no assurances that we
will be able to secure further funds required for our continued
operations.  As noted herein, we are pursuing various financing
alternatives to meet our immediate and long-term financial requirements. 
There can be no assurance that additional financing will be available to us when
needed or, if available, that it can be obtained on commercially reasonable
terms.  If we are not able to obtain the additional financing on a timely
basis, we will be unable to conduct our operations as planned, and we will not
be able to meet our other obligations as they become due.  In such event,
we will be forced to scale down or perhaps even cease our operations.

Application of Critical
Accounting Policies

The financial statements of the
Company have been prepared in accordance with generally accepted accounting
principles in the United States of America.  Because a precise
determination of many assets and liabilities is dependent upon future events,
the preparation of financial statements for a period necessarily involves the
use of estimates, which have been made using careful judgment.  Actual
results may vary from these estimates.

The following
significant accounting policies, for the purposes of these interim financial
statements, are only those policies that do not duplicate the disclosures
contained in the Companys annual June 30, 2007 financial statements included in
the Form 8K filed with the SEC on January 2, 2008.



19



---







The Company is a
development stage company as defined in the Financial Accounting Standards Board
(FASB) Statement of Financial Accounting Standards (SFAS) No. 7 as it is
devoting substantially all of its efforts to establish a new business and
planned principal operations have not commenced.  All losses accumulated
since inception have been considered as part of the Companys development stage
activities.

The Companys
functional currency is in Canadian dollars as substantially all of the Companys
operations are in Canada.  The Company used the United States dollar as its
reporting currency for consistency with registrants of the Securities and
Exchange Commission (SEC) and in accordance with the SFAS No. 52, Foreign
Currency Translation statement.

Assets and
liabilities that are denominated in a foreign currency are translated at the
exchange rate in effect at the period-end and capital accounts are translated at
historical rates.  The statement of operations accounts are translated at
the average rates of exchange prevailing during the period.  Translation
adjustments from the use of different exchange rates from period to period are
included in the Comprehensive Income account in Stockholders Equity, if
applicable.

Transactions
undertaken in currencies other than the functional currency of the entity are
translated using the exchange rate in effect as of the transaction date.
 Any exchange gains and losses are included in operating expenses on the
Statement of Operations.

The Company
considers all cash on hand and in banks, certificates of deposit and other
highly-liquid investments with maturities of three months or less, when
purchased, to be cash equivalents.

The Company
accounts for web site costs maintenance with Statement of Position (SOP) No.
98-1, Accounting for Costs of Computer Software Developed or Obtained for
Internal Use, SFAS No. 86, Accounting for the Costs of Computer Software to be
Sold, Leased, or Otherwise Marketed and EITF 00-2, Accounting for Web Site
Development Costs.  Accordingly web site development costs that are
incurred during the application and web site infrastructure stage and the
graphic and content development stages are capitalized.

The Companys
management has also determined that it is probable the project will be completed
and the software will be used as intended.  The capitalized costs of web
site development will be amortized over three years on a straight-line basis
upon completion of its development and commencement of its use.

Web site costs
incurred during the planning stage and pre-operating stage are expensed as
incurred.

The carrying value
of the Companys financial instruments, consisting of cash, accounts payable and
accrued liabilities and loans payable approximate their fair value due to the
short maturity of such instruments.  Unless otherwise noted, it is
managements opinion that the Company is not exposed to significant interest or
credit risks arising from these financial instruments.

The Company is
subject to foreign exchange price risk as it has certain financial instruments
which are denominated in foreign currencies.  Included in cash is funds
denominated in US dollars totaling US$16,334.  The Company does not use
derivative instruments to reduce its exposure to fluctuations in exchange
rates.



RISK FACTORS

Much of the information included
in this quarterly report includes or is based upon estimates, projections or
other "forward-looking statements".  Such forward-looking statements
include any projections or estimates made by us and our management in connection
with our business operations.  While these forward-looking statements, and
any assumptions upon which they are based, are made in good faith and reflect
our current judgment regarding the direction of our business, actual results
will almost always vary, sometimes materially, from any estimates, predictions,
projections, assumptions, or other future performance suggested herein.  We
undertake no obligation to update forward-looking statements to reflect events
or circumstances occurring after the date of such statements.

Such estimates, projections or
other "forward-looking statements" involve various risks and uncertainties as
outlined



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below.  We caution readers
of this quarterly report that important factors in some cases have affected and,
in the future, could materially affect actual results and cause actual results
to differ materially from the results expressed in any such estimates,
projections or other "forward-looking statements".  In evaluating us, our
business and any investment in our business, readers should carefully consider
the following factors.

Risks Related To Our Business
and Industry

We have a limited operating
history, have experienced net losses to date and may not be able to become
profitable or generate positive cash flow in the future.

You should consider our business
and prospects in light of the risks, expenses and difficulties encountered by
companies in their early stage of development in a rapidly evolving industry.
 We have no revenue producing operations. We have experienced net losses of
approximately $1,471,040from inception through March 31, 2008, and
we have not yet been able to generate revenue or positive cash flow from
operations. In addition to the operating losses, we have incurred a loss of
$22,382 due to foreign currency translation and losses from extraordinary items
including loss on debt settlement of $4,863,509. We cannot be certain that we
will be able to generate net income and positive cash flow from operations in
the future.

As a result of our limited
operating history, we may fail to meet our forecasts or the expectations of
securities analysts or investors, which could cause our stock price to
decline.

Our limited operating history
and the rapidly evolving nature of our industry make forecasting quarterly and
annual operating results difficult. We may not be able to quickly reduce
spending if our revenue is lower than we project. Any significant increase in
our expenses or shortfall in our revenue would be detrimental to our business,
operating results and financial condition and could cause our results of
operation to fall below the expectations of public market analysts and
investors. As a result, you should not rely on our historical results as an
indicator of our future performance.

We have limited operating
history in the processing, streaming and distribution of digital video content
and we may not be able to successfully process, stream and market our video
content.

The approach we have taken to
date in acquiring, processing and marketing music content may not be successful.
We may not be able to secure a sufficient volume of content or attract a
sufficient market to our video content to create meaningful revenue.
  We may not be able to process and stream music videos at scale and
may not be able to cure this problem within our available resources.

If the music content we
provide to digital entertainment services does not appeal to consumers' tastes
and preferences, we will fail.

Our success depends on our
ability to acquire and offer to consumers, music content that appeals to
consumers' tastes and preferences. Consumers' tastes are subject to frequent,
significant and sometimes unpredictable changes. We cannot accurately assess or
control consumer demand for our music content.   The content on
IndieMV.com may not appeal to consumers.  If consumers do not view our
content in large numbers, we will fail.

We face competition from
companies seeking to acquire the digital rights to music and video content,
which could negatively impact our ability to acquire additional digital
rights.

The market for acquiring digital
rights from content owners is competitive, especially for the distribution of
music catalogs owned by independent labels. The number of commercialized music
and video recordings available for acquisition is large, but limited, and many
of the more desirable music recordings are already subject to digital
distribution agreements or have been directly placed with digital entertainment
services. We face competition in our pursuit to acquire content, which may
reduce the amount of music and video content that we are able to acquire or
license, even amongst independent musicians.    Our competitors
may from time to time offer better terms of acquisition to content owners.
Several of our competitors have longer operating histories, larger customer
bases, greater brand recognition and greater financial, marketing and other
resources than we do. Some of our competitors



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have adopted, and may continue
to adopt, aggressive pricing policies and devote substantially more resources to
acquiring digital rights to music and video recordings. In addition, our
competitors may form strategic alliances with record labels and digital
entertainment services that could result in increased competition for the
acquisition of music recordings, service offerings or favorable terms with the
digital entertainment services.

Piracy is likely to continue
to negatively impact our potential revenue.

Our revenue will come from
advertising, but a significant portion will come from the sale of digital
content over the Internet and wireless, cable and mobile networks, which are
subject to unauthorized consumer copying and widespread dissemination without an
economic return to us. Global piracy is a significant threat to the
entertainment industry generally and to us. Unauthorized copies and piracy have
contributed to the decrease in the volume of legitimate sales of music and video
content and have put pressure on the price of legitimate sales.

If the Internet and portable
digital music and video players and mobile phones cease to be the medium
accepted by the mass market for digital music and video content, our business
could be affected adversely.

Our success depends to a
substantial extent on the willingness of consumers to increase their use of
digital entertainment services as a method of purchasing music and video content
or viewing ad-supported content. The use of the Internet and wireless, cable and
mobile networks to select and download purchased music and video content is
growing rapidly but is still evolving, and offering ad-supported video content
is in its infancy. It is uncertain whether these markets will achieve and
sustain high levels of demand and market acceptance. If the use of the Internet
and wireless, cable and mobile networks to select and purchase music and video
content or view ad-supported content does not gain in popularity, our business
could be affected adversely.

We Are Exposed To
Fluctuations In The Exchange Rate Between The U.S. Dollar And The Canadian
Dollar.

Substantially all our cash is
denominated in U.S. Dollars while a substantial amount of our costs of
operations on an ongoing basis are paid in Canadian Dollars.  Over the past
three years, the U.S. Dollar has depreciated against the Canadian Dollar by
approximately one-third.  Whether this trend will continue cannot be
predicted.  Our financial statements and the pro forma financial statements
included herein are presented in U.S. dollars.  We expect that once
revenues begin to accrue, we will receive a substantial portion of our revenue
in U.S. Dollars, although a substantial amount of our operating costs will be
denominated in Canadian dollars.  Continued fluctuations in exchange rates
between the U.S. and Canadian dollar may give rise to foreign currency exposure,
either favorable or unfavorable, creating another element of uncertainty.

Risks Related To Our
Financial Condition

We Have A History Of Losses,
An Accumulated Deficit, And Expect To Continue To Incur Losses.

We have experienced net losses
of approximately $1,471,040 from inception through March 31, 2008, and we
have not yet been able to generate revenue or positive cash flow from
operations.  In addition to the operating losses, we have incurred a loss
of $22,382 due to foreign currency translation and losses from extraordinary
items including loss on debt settlement of $4,863,509. There can be no assurance
that we will ever be able to generate significant revenues.

Risks Related To Our Common
Stock

There Is No Established
Trading Market For Our Common Stock Which May Impair Your Ability To Sell Your
Shares.

Our common stock is currently
quoted on the Over-the-Counter Bulletin Board under the symbol "IDMV."
 There has been a limited established trading market for our common stock
since June of 2007.  The lack of an active market may make it difficult to
obtain accurate quotations of the price of our common stock. and impair your
ability to sell your shares at the time you wish to sell them or at a price that
you consider reasonable.  The lack of an active market may also reduce the
fair market value of your shares. An inactive market may also impair our ability
to raise



22



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capital by selling shares of
capital stock and may impair our ability to acquire other companies or
technologies by using common stock as consideration.

Penny stock rules will limit
the ability of our stockholders to sell their stock.

The Securities and Exchange
Commission has adopted regulations which generally define "penny stock" to be
any equity security that has a market price (as defined) less than $5.00 per
share or an exercise price of less than $5.00 per share, subject to certain
exceptions. Our securities are covered by the penny stock rules, which impose
additional sales practice requirements on broker-dealers who sell to persons
other than established customers and "accredited investors". The term
"accredited investor" refers generally to institutions with assets in excess of
$5,000,000 or individuals with a net worth in excess of $1,000,000 or annual
income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock
rules require a broker-dealer, prior to a transaction in a penny stock not
otherwise exempt from the rules, to deliver a standardized risk disclosure
document in a form prepared by the Securities and Exchange Commission which
provides information about penny stocks and the nature and level of risks in the
penny stock market. The broker-dealer also must provide the customer with
current bid and offer quotations for the penny stock, the compensation of the
broker-dealer and its salesperson in the transaction and monthly account
statements showing the market value of each penny stock held in the customer's
account. The bid and offer quotations, and the broker-dealer and salesperson
compensation information, must be given to the customer orally or in writing
prior to effecting the transaction and must be given to the customer in writing
before or with the customer's confirmation. In addition, the penny stock rules
require that prior to a transaction in a penny stock not otherwise exempt from
these 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 level of trading activity in the secondary
market for the stock that is subject to these penny stock rules. Consequently,
these penny stock rules may affect the ability of broker-dealers to trade our
securities. We believe that the penny stock rules discourage investor interest
in and limit the marketability of our common stock.

The Financial Industry
Regulatory Authority, or FINRA, has adopted sales practice requirements which
may also limit a shareholder's ability to buy and sell our stock.

In addition to the "penny stock" rules described above,
FINRA has adopted rules that require that in recommending an investment to a
customer, a broker-dealer must have reasonable grounds for believing that the
investment is suitable for that customer. Prior to recommending speculative low
priced securities to their non-institutional customers, broker-dealers must make
reasonable efforts to obtain information about the customer's financial status,
tax status, investment objectives and other information. Under interpretations
of these rules, FINRA believes that there is a high probability that speculative
low priced securities will not be suitable for at least some customers. FINRA
requirements make it more difficult for broker-dealers to recommend that their
customers buy our common stock, which may limit your ability to buy and sell our
stock and have an adverse effect on the market.



Item 3 - Controls and
Procedures

Managements Report on
Disclosure Controls and Procedures

We maintain disclosure controls
and procedures that are designed to ensure that information required to be
disclosed in our reports filed under the Securities Exchange Act of 1934,
as amended, is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission's rules and forms,
and that such information is accumulated and communicated to our management,
including our president (also our principal executive officer, principal
financial officer and principal accounting officer) to allow for timely
decisions regarding required disclosure.

As of March 31, 2008, the end of
our quarter covered by this report, we carried out an evaluation, under the
supervision and with the participation of our president (also our principal
executive officer) and our secretary, treasurer and chief financial officer
(also our principal financial and accounting officer), of the effectiveness of
the design and operation of our disclosure controls and procedures. Based on the
foregoing, our president (also our principal executive officer) and our
secretary, treasurer and chief financial officer (also our principal financial
and



23



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accounting officer) concluded
that our disclosure controls and procedures were effective as of the end of the
period covered by this quarterly report.

Managements Report on
Internal Control over Financial Reporting

Our management is responsible
for establishing and maintaining adequate internal control over financial
reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act, as
amended). In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
control procedures. The objectives of internal control include providing
management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition, and that
transactions are executed in accordance with managements authorization and
recorded properly to permit the preparation of consolidated financial statements
in conformity with accounting principles generally accepted in the United
States. Our management assessed the effectiveness of our internal control over
financial reporting as of March 31, 2008. In making this assessment, our
management used the criteria set forth by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) in Internal
Control-Integrated Framework. Our management has concluded that, as of March
31, 2008, our internal control over financial reporting is effective in
providing reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with US generally accepted accounting principles. Our management reviewed the
results of their assessment with the Audit Committee of our Board of
Directors.

Inherent limitations on
effectiveness of controls

Internal control over financial
reporting has inherent limitations which include but is not limited to the use
of independent professionals for advice and guidance, interpretation of existing
and/or changing rules and principles, segregation of management duties, scale of
organization, and personnel factors. Internal control over financial reporting
is a process which involves human diligence and compliance and is subject to
lapses in judgment and breakdowns resulting from human failures. Internal
control over financial reporting also can be circumvented by collusion or
improper management override. Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements on a
timely basis, however these inherent limitations are known features of the
financial reporting process and it is possible to design into the process
safeguards to reduce, though not eliminate, this risk. 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.

Changes in Internal
Control over Financial Reporting

There have been no significant
changes in our internal controls over financial reporting that occurred during
the quarter ended March 31, 2008 that have materially or are reasonably likely
to materially affect, our internal controls over financial reporting.





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PART II - OTHER INFORMATION

Item
1.

Legal
Proceedings

We know of no material, existing
or pending legal proceedings against our company, nor are we involved as a
plaintiff in any material proceeding or pending litigation. There are no
proceedings in which any of our directors, executive officers or affiliates, or
any registered or beneficial stockholder, is an adverse party or has a material
interest adverse to our interest.

Item
2.

Unregistered
Sales of Equity Securities and Use of Proceeds

On December 24, 2007, IndieMV
Media Group Inc., a British Columbia corporation (Indie), became a wholly
owned subsidiary of our company.  Prior to that time, on May 31, 2007,
Indie had entered into a promissory note with Asia International Capital
Management, Inc., a British Columbia Corporation (Asia), whereby Asia would
periodically advance cash to Indie which would be repaid within 12 months of
such an advance at 10% interest.  As of January 25, 2008, a total of
$1,202,202.  On January 29, 2008, we agreed to assume the note and to make
the note convertible on demand of the holder or its assignees into shares of our
common stock at a price of $0.20 per share, in the form of a Promissory Note
Amendment.  On January 29, 2008, Asia elected to convert the entire
principal and interest balance due under the note into shares of our common
stock, totaling 6,005,654 shares of common stock which were issued to Asia and
its assignees on January 31, 2008.  We believe that this issuance was
exempt from registration under the Securities Act pursuant to Section 4(2)
and/or Regulation D thereof. We made this determination based on the
representations of Asia and its assignees, which included, in pertinent part,
that such shareholders were "accredited investors" within the meaning of Rule
501 of Regulation D promulgated under the Securities Act and that such
shareholders were acquiring our common stock, for investment purposes for their
own respective accounts and not as nominees or agents, and not with a view to
the resale or distribution thereof, and that each member understood that the
shares of our common stock may not be sold or otherwise disposed of without
registration under the Securities Act or an applicable exemption therefrom.

Item
3.

Defaults Upon
Senior Securities

None.

Item
4.

Submission of
Matters to a Vote of Securities Holders

On January
22, 2008, we filed a Definitive 14C Information Statement disclosing that on
November 8, 2007, a majority of our shareholders voted to approve an amendment
to our articles of incorporation to change our name to IndieMV Media Group,
Inc.

Item
5.

Other
Information

On February 15, 2008, our board
of directors voted to change our fiscal year end from September 30 to June 30.
 This change will be effective upon circulation of proper notice to our
shareholders.

Item 6.

Exhibits

|                  |                                                                                       
|----------------- | --------------------------------------------------------------------------------------
|ExhibitNumber     | Description                                                                           
|(31)              | Rule 13a-14(a)/15d-14(a)
Certifications                                               
|31.1*             | Section 302 Certification under Sarbanes-Oxley Act
of 2002 of Ricardo E. Khayatte,
Jr.
|31.2*             | Section 302 Certification under Sarbanes-Oxley Act
of 2002 of Tim Flanagan            
|(32)              | Section 1350 Certifications                                                           
|32.1*             | Section 906 Certification under Sarbanes-Oxley Act
of 2002, Ricardo e. Khayatte, Jr.  
|32.2*             | Section 906 Certification under Sarbanes-Oxley Act
of 2002, Tim Flanagan              
|* Filed herewith. |                                                                                       



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SIGNATURES



In accordance with the requirements of the Exchange Act,
the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.



INDIEMV MEDIA GROUP, INC.



/s/ Ricardo E. Khayatte,
Jr.By: Ricardo E. Khayatte, Jr., President, Chief Executive Officer,and
Director (Principal Executive Officer)

Dated:  May 16, 2008



/s/ Tim FlanaganBy: Tim
Flanagan, Chief Financial Officer(Principal Financial Officer)
Dated: May 16, 2008







26