N I S Holdings, Corp


FORM 10-Q
(Quarterly Report)


Filed 03/16/10 for the Period Ending 09/30/09



	Address		6100 Neil Road, Suite 500
			Reno, NV 89511, USA

	Telephone	1-888-777-8777

	CIK		0001366404

	Symbol		ASMH

	SIC Code	4812 - Radiotelephone Communications

	Fiscal Year	12/31









UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended
September 30, 2009.

OR

( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 For the transition
period from __________ to ___________

Commission File Number : 333-139640

N I S HOLDINGS CORP
(formerly Associated Media Holdings Inc)
(Exact name of registrant as specified in its charter)

	NEVADA					  201507967
(State or other jurisdiction			(IRS Employer
of incorporation or organization)	     Identification No.)

6100 Neil Road, Suite 500, Reno, NV 89511
(Address of principal executive offices,
including zip code)

1-888-777-8777
(Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes (  )  No ( X )





Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if
any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T ( 232.405
of this chapter ) during the preceding 12 months (or for
such shorter period that the registrant was required
to submit and post such files).  Yes (   )   No (   )

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a not-accelerated
filer, or a smaller reporting company. See the definitions
of "large accelerated filer," "accelerated filer" and
"smaller reporting company" in Rule 12b-2 of the Exchange
Act.

Large accelerated filer  (  ) 	Accelerated filer (  )

Non-accelerated filer (  )	Smaller reporting company (X)

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

At March 11, 2010, the Company had outstanding of
439,610 shares of Common Stock, $0.00025 par value per
share.





















N I S Holdings, Corp

FORM 10-Q
For the Period Ended September 30, 2009
TABLE OF CONTENTS

PART I	FINANCIAL INFORMATION 					Pages

Item 1.	Financial Statements...					1 - 16

Item 2.	Management's Discussion and Analysis of
        Financial Condition and Results of Operations...	17-19

Item 3.	Quantitative and Qualitative Disclosures
        About Market Risk... 					19

Item 4T.Controls and Procedures...			 	19

PART II

Item 1.	Legal Proceedings...					20

Item 1A.Risk Factors...					 	20

Item 2.	Unregistered Sales of Equity Securities
        and Use of Proceeds...					20

Item 3.	Defaults Upon Senior Securities........			20

Item 4.	Submission of Matters to a Vote of Security Holders...	20

Item 5.	Other Information...					20

Item 6.	Exhibits and Certifications...				21












Part 1. Item 1.  Financial Statements


N I S Holdings, Corp

								Page No.

Balance Sheets...					   	1

Statements of Operations...					2

Statements of Cash Flows...					3

Notes to Financial Statements...				4 - 16

















N I S Holdings, Corp

(Formerly Associated Media Holdings Inc)

(A Development Stage Company)

FINANCIAL STATEMENTS

September 30, 2009

(Expressed in US Dollars)

(Unaudited)




















N I S Holdings, Corp
(Formerly Associated Media Holdings Inc)
(A Development Stage Company)
Balance Sheets
(Expressed in US Dollars)
Unaudited

						   As at 	 As at
						 Sept. 30,	Dec 31,
 						   2009          2008

Assets

Current Assets
   Cash					      $     4,222    $    5,259
						  _____________________
 Total current assets                               4,222         5,259

Property & Equipment,
 net of accumulated depreciation of $59,185        10,096        16,990

Other Assets
 Intangible assets,
  net of accumulated amortization of $168,708     254,292       261,237
						  _____________________
Total assets                                  $   268,610    $  283,486
						  _____________________

Liabilities And Stockholders' Equity (Deficiency)

 Current Liabilities
  Accounts payable and accrued liabilities    $   924,246    $  930,746
						  _____________________
 Total current liabilities                        924,246       930,746

 Long Term Liabilities
  Notes payable                                   537,000       537,000
						_______________________
Total current liabilities and
total liabilities                               1,461,246     1,467,746
						_______________________


Stockholders' Equity (Deficiency)

 Common stock, $0.00025 par value
  Authorized 100,000,000 shares
  Issued and outstanding 439,610 shares               110           110
 Additional paid-in capital                     3,499,116     3,499,116
 Accumulated deficit                           (4,691,862)   (4,683,486)
						_______________________
Total stockholders' equity (deficiency)        (1,192,636)   (1,184,260)
						_______________________
Total liabilities and stockholders'
equity (deficiency)                           $   268,610   $   283,486
						_______________________



The accompanying notes are an integral part of these financial statements




			1




N I S Holdings, Corp
(Formerly Associated Media Holdings Inc)
(A Development Stage Company)
Statements of Operations
(Expressed in US Dollars)
Unaudited

								Cumulative
								during the
								development
				    3 months	  9 months	  stage
				     ended         ended      (June 21, 2004
				    Sept. 30,     Sept. 30,    to Sept. 30,
 				      2009          2009            2009)

Revenue                         $     3,690    $    12,554    $     125,197

Operating Expenses
  Amortization and depreciation       3,798         13,839          234,529
  Consulting expense                  2,000          3,000        2,068,859
  General and administrative            675          6,041          662,140
  Marketing                              -              -           172,741
  Professional fees                      -              -           465,342
  Compensation expense                   -              -         1,129,755
  Website development                    -              -           206,112
				     ______________________________________
Total operating expenses              6,473         22,880        4,939,478

Operating loss                       (2,783)       (10,326)      (4,814,281)

Other income                             -           1,950          122,419
				     ______________________________________
Net loss                        $    (2,783)   $    (8,376)   $  (4,691,862)
				     ______________________________________


Net loss per common share
 - Basic and diluted            $     (0.00)   $     (0.00)

Weighted average number of
common shares outstanding              439,610     439,610




The accompanying notes are an integral part of these financial statements






			2





N I S Holdings, Corp
(Formerly Associated Media Holdings Inc)
(A Development Stage Company)
Statements of Cash Flows
(Expressed in US Dollars)
Unaudited

							    Cumulative
							    during the
							    development
					   9 months	      stage
					    ended         (June 21, 2004
					   Sept. 30,        to Sept. 30,
 					     2009	       2009)

Cash Flows (Used In) Provided By:

Operating Activities
  Net loss                             $    (8,376)    $    (4,691,862)
Changes in non-cash working
capital items related to operations:
  Amortization and depreciation             13,839             234,539
  Common stock issued for service               -            1,550,000
Changes in operating assets
and liabilities
  Accounts receivable                           -                   -
  Prepaid expenses                              -                   -
  Increase in deposit                           -                   -
  Accounts payable and
  accrued liabilities                       (6,500)            926,826
  Accrued compensation payable                  -                   -
					   ___________________________
Net cash used in operating activities       (1,037)         (1,980,497)
Investing Activities
  Acquisition of Icelounge.com,
  Inc. intangible assets                        -             (423,000)
  Purchase of property and equipment            -              (69,281)
					   ___________________________
Net cash used in investing activities           -             (492,281)
Financing Activities
  Proceeds from issuance of note payable        -              762,000
  Repayment of note payable                     -             (225,000)
  Proceeds from issuance of common stock        -            1,940,000
					   ___________________________
Net cash provided by
financing activities                  $         -     $      2,477,000
					   ___________________________
Increase/(Decrease) in Cash                 (1,037)              4,222
Cash, beginning                              5,259                  -
Cash, ending                          $      4,222    $          4,222

Supplemental disclosure of cash flow information:

  Interest paid                       $         -     $             -
  Income tax paid                     $         -     $             -





The accompanying notes are an integral part of these financial statements




			3




N I S Holdings, Corp
(Formerly : Associated Media Holdings Inc)
(A Development Stage Company)
Notes to Financial Statements
September 30, 2009
(Expressed in US Dollars)
Unaudited

Note 1. General Organization and Business

N I S Holdings, Corp (formerly Associated Media Holdings
Inc) (hereinafter, the "Company") was incorporated under
the laws of the state of Nevada on June 21, 2004.

On October 21, 2005, the Company changed its name to
Associated Media Holdings Inc and on March 16, 2010 the
name was changed to N I S Holdings, Corp to further develop
and promote the Ignition Website and Trademarks (hereinafter,
the "Intangibles") which focus on multi content for mobile
and portable cellular devices. On this same day, the board
of directors approved an increase in the authorized number
of common shares of the Company from 25,000,000 to
100,000,000 and changed its par value from $0.001 to
$0.00025. This change is reflected in these financial
statements.

The Company has yet to fully develop any material income
from its stated primary objective and it is classified as a
development stage company. All income, expenses, cash flows
and stock transactions are reported since the beginning of
development stage.

These 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 fiscal year. Realization values may be
substantially different from carrying values as shown and
these 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
September 30, 2009, the Company had not yet achieved
profitable operations, has accumulated losses of $4,691,862



			4


since inception and expects to incur further losses in the
development of its business, of which cast 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 future profitable operations and/or the
necessary financing to meet its obligations and repay its
liabilities arising from normal business operations when
they come due. Management has obtained additional funds by
related party's advances; however, there is no assurance
that this additional funding is adequate and further
funding may be necessary.

Note 2.  Significant Accounting Policies

These financial statements have been prepared in accordance
with generally accepted accounting principles in the United
States of America and are stated in US dollars. 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 differ from these estimates.

The financial statements have, in management's opinion,
been properly prepared within the framework of the
significant accounting policies summarized below:

(a)	Development Stage Company

The Company is a development stage company. The Company is
devoting substantially all of its present efforts to
establish a new business and none of its planned principal
operations have commenced. All losses accumulated since
inception has been considered as part of the Company's
development stage activities.

(b)	Financial Instruments

The carrying values of cash, accounts receivable, accounts
payable, promissory notes payable and due to related
parties approximate fair value because of the short-term
nature of these instruments. Management is of the opinion
that the Company is not exposed to significant interest,



			5




currency or credit risks arising from these financial
instruments.

(c)	Stock Issued in Exchange for Services

The valuation of common stock issued in exchange for
services is valued at an estimated fair market value as
determined by officers and directors of the Company based
upon other sales and issuances of the Company's common
stock within the same general time period.

(d)	Stock-based Compensation

FASB ASC (Accounting Standards Codification) 718 "Stock
Compensation" requires public companies to recognize the
cost of employee services received in exchange for equity
instruments, based on the grant-date fair value of those
instruments, with limited exceptions. FASB ASC 718 "Stock
Compensation" also affects the pattern in which
compensation cost is recognized, the accounting for
employee share purchase plans, and the accounting for
income tax effects of share-based payment transactions. For
small business filers, FASB ASC 718 "Stock Compensation" is
effective for interim or annual periods beginning after
December 15, 2005. The Company adopted the guidance in FASB
ASC 718 "Stock Compensation" on October 1, 2007.

(e)	Foreign Currency Translation

The Company translates foreign currency transactions and
balances to its reporting currency, United States Dollars,
in accordance with ASC 830, "Foreign Currency Matters".
Monetary assets and liabilities are translated into the
functional currency at the exchange rate in effect at the
end of the relevant reporting period. Non-monetary assets
and liabilities are translated at the exchange rate
prevailing when the assets were acquired or the liabilities
assumed. Revenue and expenses are translated at the rate
approximating the rate of exchange on the transaction date.
All exchange gains and losses are included in the
determination of net income (loss) for the year.




			6



(f)	Basic and Diluted Loss Per Share

The Company presents of both basic and diluted earnings per
share ("EPS") on the face of the income statement. Basic
loss per share is computed by dividing the net loss
available to common shareholders by the weighted average
number of common shares outstanding during the year.
Diluted EPS gives effect to all dilative potential common
shares outstanding during the year including stock options,
using the treasury stock method, and convertible preferred
stock, using the if-converted method. In computing diluted
EPS, the average stock price for the year is used in
determining the number of shares assumed to be purchased
from the exercise of stock options or warrants. Diluted EPS
excludes all dilative potential common shares if their
effect is anti dilative.

(g)	Income Taxes

The Company uses the assets and liability method of
accounting for income taxes pursuant to SFAS No. 109
"Accounting of Income Taxes". Under the asset and
liability method of SFAS 109, deferred tax assets and
liabilities are recognized for the future tax consequences
attributable to temporary differences between the
financial statements carrying amounts of existing assets
and liabilities and their respective tax basis. Deferred
tax assets and liabilities are measured using enacted tax
rates expected to apply to taxable income in the years in
which those temporary differences are expected to be
recovered or settled.

(h)	Recently Issued Accounting Pronouncements

In February 2010, the FASB (Financial Accounting Standards
Board) issued Accounting Standards Update 2010-08 (ASU
2010-08), Technical Corrections to Various Topics.  This
amendment eliminated inconsistencies and outdated
provisions and provided the needed clarifications to
various topics within Topic 815.  The amendments are
effective for the first reporting period (including
interim periods) beginning after issuance (February 2,
2010), except for certain amendments.  The amendments to
the guidance on accounting for income taxes in
reorganization (Subtopic 852-740) should be applied to



			7



reorganizations for which the date of the reorganization
is on or after the beginning of the first annual reporting
period beginning on or after December 15, 2008.  For those
reorganizations reflected in interim financial statements
issued before the amendments in this Update are effective,
retrospective application is required.  The clarifications
of the guidance on the embedded derivates and hedging
(Subtopic 815-15) are effective for fiscal years beginning
after December 15, 2009, and should be applied to existing
contracts (hybrid instruments) containing embedded
derivative features at the date of adoption.  The Company
does not expect the provisions of ASU 2010-08 to have a
material effect on the financial position, results of
operations or cash flows of the Company.

In January 2010, the FASB (Financial Accounting Standards
Board) issued Accounting Standards Update 2010-07 (ASU
2010-07), Not-for-Profit Entities (Topic 958): Not-for-
Profit Entities: Mergers and Acquisitions.  This amendment
to Topic 958 has occurred as a result of the issuance of
FAS 164.  The Company does not expect the provisions of
ASU 2010-07 to have a material effect on the financial
position, results of operations or cash flows of the
Company.

In January 2010, the FASB (Financial Accounting Standards
Board) issued Accounting Standards Update 2010-06 (ASU
2010-06), Fair Value Measurements and Disclosures (Topic
820): Improving Disclosures about Fair Value Measurements.
This amendment to Topic 820 has improved disclosures about
fair value measurements on the basis of input received
from the users of financial statements.  This is effective
for interim and annual reporting periods beginning after
December 15, 2009, except for the disclosures about
purchases, sales, issuances, and settlements in the roll
forward of activity in Level 3 fair value measurements.
Those disclosures are effective for fiscal years beginning
after December 15, 2010, and for interim periods within
those fiscal years.  Early adoption is permitted.  The
Company does not expect the provisions of ASU 2010-06 to
have a material effect on the financial position, results
of operations or cash flows of the Company.




			8




In January 2010, the FASB (Financial Accounting Standards
Board) issued Accounting Standards Update 2010-05 (ASU
2010-05), Compensation - Stock Compensation (Topic 718).
This standard codifies EITF Topic D-110 Escrowed Share
Arrangements and the Presumption of Compensation.

In January 2010, the FASB (Financial Accounting Standards
Board) issued Accounting Standards Update 2010-04 (ASU
2010-04), Accounting for Various Topics-Technical
Corrections to SEC Paragraphs.

In January 2010, the FASB (Financial Accounting Standards
Board) issued Accounting Standards Update 2010-03 (ASU
2010-03), Extractive Activities-Oil and Gas (Topic 932):
Oil and Gas Reserve Estimation and Disclosures.  This
amendment to Topic 932 has improved the reserve estimation
and disclosure requirements by (1) updating the reserve
estimation requirements for changes in practice and
technology that have occurred over the last several
decades and (2) expanding the disclosure requirements for
equity method investments.  This is effective for annual
reporting periods ending on or after December 31, 2009.
However, an entity that becomes subject to the disclosures
because of the change to the definition oil- and gas-
producing activities may elect to provide those
disclosures in annual periods beginning after December 31,
2009.  Early adoption is not permitted.  The Company does
not expect the provisions of ASU 2010-03 to have a
material effect on the financial position, results of
operations or cash flows of the Company.

In January 2010, the FASB issued Accounting Standards
Update 2010-02, Consolidation (Topic 810): Accounting and
Reporting for Decreases in Ownership of a Subsidiary.
This amendment to Topic 810 clarifies, but does not
change, the scope of current US GAAP.  It clarifies the
decrease in ownership provisions of Subtopic 810-10 and
removes the potential conflict between guidance in that
Subtopic and asset derecognition and gain or loss
recognition guidance that may exist in other US GAAP.  An
entity will be required to follow the amended guidance
beginning in the period that it first adopts FAS 160 (now
included in Subtopic 810-10).  For those entities that
have already adopted FAS 160, the amendments are effective
at the beginning of the first interim or annual reporting




			9




period ending on or after December 15, 2009. The
amendments should be applied retrospectively to the first
period that an entity adopted FAS 160.  The Company does
not expect the provisions of ASU 2010-02 to have a
material effect on the financial position, results of
operations or cash flows of the Company.

In January 2010, the FASB issued Accounting Standards
Update 2010-01, Equity (Topic 505): Accounting for
Distributions to Shareholders with Components of Stock and
Cash (A Consensus of the FASB Emerging Issues Task Force).
This amendment to Topic 505 clarifies the stock portion of
a distribution to shareholders that allows them to elect
to receive cash or stock with a limit on the amount of
cash that will be distributed is not a stock dividend for
purposes of applying Topics 505 and 260. Effective for
interim and annual periods ending on or after December 15,
2009, and would be applied on a retrospective basis.  The
Company does not expect the provisions of ASU 2010-01 to
have a material effect on the financial position, results
of operations or cash flows of the Company.

In December 2009, the FASB issued Accounting Standards
Update 2009-17, Consolidations (Topic 810): Improvements
to Financial Reporting by Enterprises Involved with
Variable Interest Entities.  This Accounting Standards
Update amends the FASB Accounting Standards Codification
for Statement 167. (See FAS 167 effective date below)

In December 2009, the FASB issued Accounting Standards
Update 2009-16, Transfers and Servicing (Topic 860):
Accounting for Transfers of Financial Assets.  This
Accounting Standards Update amends the FASB Accounting
Standards Codification for Statement 166. (See FAS 166
effective date below)

In October 2009, the FASB issued Accounting Standards
Update 2009-15, Accounting for Own-Share Lending
Arrangements in Contemplation of Convertible Debt Issuance
or Other Financing.  This Accounting Standards Update
amends the FASB Accounting Standard Codification for EITF
09-1.  (See EITF 09-1 effective date below)
In October 2009, the FASB issued Accounting Standards
Update 2009-14, Software (Topic 985): Certain Revenue
Arrangements That Include Software Elements.  This update




			10





changed the accounting model for revenue arrangements that
include both tangible products and software elements.
Effective prospectively for revenue arrangements entered
into or materially modified in fiscal years beginning on
or after June 15, 2010.  Early adoption is permitted.  The
Company does not expect the provisions of ASU 2009-14 to
have a material effect on the financial position, results
of operations or cash flows of the Company.

In October 2009, the FASB issued Accounting Standards
Update 2009-13, Revenue Recognition (Topic 605): Multiple-
Deliverable Revenue Arrangements.  This update addressed
the accounting for multiple-deliverable arrangements to
enable vendors to account for products or services
(deliverables) separately rather than a combined unit and
will be separated in more circumstances that under
existing US GAAP.  This amendment has eliminated that
residual method of allocation.  Effective prospectively
for revenue arrangements entered into or materially
modified in fiscal years beginning on or after June 15,
2010.  Early adoption is permitted. The Company does not
expect the provisions of ASU 2009-13 to have a material
effect on the financial position, results of operations or
cash flows of the Company.

In September 2009, the FASB issued Accounting Standards
Update 2009-12, Fair Value Measurements and Disclosures
(Topic 820): Investments in Certain Entities That
Calculate Net Asset Value per Share (or Its Equivalent).
This update provides amendments to Topic 820 for the fair
value measurement of investments in certain entities that
calculate net asset value per share (or its equivalent).
It is effective for interim and annual periods ending
after December 15, 2009.  Early application is permitted
in financial statements for earlier interim and annual
periods that have not been issued. The Company does not
expect the provisions of ASU 2009-12 to have a material
effect on the financial position, results of operations or
cash flows of the Company.

In July 2009, the FASB ratified the consensus reached by
EITF (Emerging Issues Task Force) issued EITF No. 09-1,
(ASC Topic 470) "Accounting for Own-Share Lending
Arrangements in Contemplation of Convertible Debt
Issuance" ("EITF 09-1").  The provisions of EITF 09-1,




			11





clarifies the accounting treatment and disclosure of
share-lending arrangements that are classified as equity
in the financial statements of the share lender.  An
example of a share-lending arrangement is an agreement
between the Company (share lender) and an investment bank
(share borrower) which allows the investment bank to use
the loaned shares to enter into equity derivative
contracts with investors.  EITF 09-1 is effective for
fiscal years that beginning on or after December 15, 2009
and requires retrospective application for all
arrangements outstanding as of the beginning of fiscal
years beginning on or after December 15, 2009.   Share-
lending arrangements that have been terminated as a result
of counterparty default prior to December 15, 2009, but
for which the entity has not reached a final settlement as
of December 15, 2009 are within the scope.  Effective for
share-lending arrangements entered into on or after the
beginning of the first reporting period that begins on or
after June 15, 2009.  The Company does not expect the
provisions of EITF 09-1 to have a material effect on the
financial position, results of operations or cash flows of
the Company.

In June 2009, the FASB issued SFAS No. 168 (ASC Topic
105), "The FASB Accounting Standards Codification and the
Hierarchy of Generally Accepted Accounting Principles - a
replacement of FASB Statement No. 162" ("SFAS No. 168").
Under SFAS No. 168 the "FASB Accounting Standards
Codification" ("Codification") will become the source of
authoritative US GAAP to be applied by nongovernmental
entities.  Rules and interpretive releases of the
Securities and Exchange Commission ("SEC") under authority
of federal securities laws are also sources of
authoritative GAAP for SEC registrants. SFAS No. 168 is
effective for financial statements issued for interim and
annual periods ending after September 15, 2009.  On the
effective date, the Codification will supersede all then-
existing non-SEC accounting and reporting standards. All
other non-grandfathered non-SEC accounting literature not
included in the Codification will become non-
authoritative. SFAS No. 168 is effective for the Company's
interim quarterly period beginning July 1, 2009. The
Company does not expect the adoption of SFAS No. 168 to
have an impact on the financial statements.




			12





 In June 2009, the FASB issued SFAS No. 167 (ASC Topic
810), "Amendments to FASB Interpretation No. 46(R) ("SFAS
167").   SFAS 167 amends the consolidation guidance
applicable to variable interest entities. The provisions
of SFAS 167 significantly affect the overall consolidation
analysis under FASB Interpretation No. 46(R).  SFAS 167 is
effective as of the beginning of the first fiscal year
that begins after November 15, 2009. SFAS 167 will be
effective for the Company beginning in 2010. The Company
does not expect the provisions of SFAS 167 to have a
material effect on the financial position, results of
operations or cash flows of the Company.

In June 2009, the FASB issued SFAS No. 166, (ASC Topic
860) "Accounting for Transfers of Financial Assets-an
amendment of FASB Statement No. 140" ("SFAS 166"). The
provisions of SFAS 166, in part, amend the derecognition
guidance in FASB Statement No. 140, eliminate the
exemption from consolidation for qualifying special-
purpose entities and require additional disclosures. SFAS
166 is effective for financial asset transfers occurring
after the beginning of an entity's first fiscal year that
begins after November 15, 2009. The Company does not
expect the provisions of SFAS 166 to have a material
effect on the financial position, results of operations or
cash flows of the Company.

Note 3. Share Capital

Amend the Company's authorized share capital.

On October 21, 2005, the authorized shares capital was
increased as follows:

Authorized common stock consists of 100,000,000 shares
having a par value of $0.00025 per share.

Effective March 16, 2010, the Company effectuated a 1 for
100 reverse stock splits, thereby reducing the issued and
outstanding shares of Common Stock from 43,961,000 prior to
the reverse split to 439,610 following the reverse split.
The financial statements have been retroactively adjusted
to reflect this reverse stock split.




			13




Note 4. Income Taxes

The Company uses the assets and liability method of
accounting for income taxes pursuant to SFAS No. 109
"Accounting of Income Taxes". Under the asset and
liability method of SFAS 109, deferred tax assets and
liabilities are recognized for the future tax consequences
attributable to temporary differences between the
financial statements carrying amounts of existing assets
and liabilities and their respective tax basis. Deferred
tax assets and liabilities are measured using enacted tax
rates expected to apply to taxable income in the years in
which those temporary differences are expected to be
recovered or settled.

Note 5. Property and Equipment

Property and equipment as of September 30, 2009 consists
of the following and are recorded at cost:

Audio visual equipment			$	23,073
Computer equipment				26,790
Furniture and fixtures				19,418
					   ___________
Total Fixed Assets			$	69,281
Accumulated Depreciation		       (59,185)
					   ___________
Net Fixed Assets			$	10,096
					   ___________

Provision for depreciation of equipment is computed on the
straight-line method for financial reporting purposes and
is based upon the following estimated useful lives:

Audio visual equipment			3 years
Computer equipment			3 years
Furniture and fixtures			7 years

Maintenance, repairs, and renewals which neither
materially add to the value of the equipment nor
appreciably prolong its life are charged to expense as
incurred. Depreciation charged to operations was $6,894
for the nine months period ended September 30, 2009.




			14




Note 6. Intangible Assets

Intangible assets consist of patent and trademark costs.
Patent costs are costs incurred to develop and file patent
application. Trademark costs are costs incurred to develop
and file trademark applications. If the patents or
trademarks are approved, the costs are amortized using the
straight-line method over the estimated lives of 7 years
for patents and 5 and 10 years for trademarks.

Amortization expense for the nine months period ended
September 30, 2009 was $6,945. Unsuccessful patent and
trademark application costs are expense at the time the
application is denied.

Through the issuance of 40,000,000 restricted common
shares valued at $10,000, the Company acquired exclusive
license rights to the Intangibles which consist of a
website and the Ignition trademarks. Through the issuance
of 700,000 restricted common shares valued at $350,000 and
$63,000 cash, the Company acquired the Intangibles of
icelounge.com, Inc. which consist of a website, databases
and proprietary software. In accordance with SFAS No. 142,
"Goodwill and Other Intangible Assets," purchased
intangibles with finite lives are amortized and reviewed
for impairment on an annual basis, which is completed
during the third quarters of 2009 and 2008 and no
impairment was recognized. The useful lives of the
Intangibles have been determined by management based upon
the expected use of the asset by the Company which is
determined to be 5 and 10 years. The Company recognizes
amortization of the Intangibles on a monthly basis.
Management assesses the carrying values of long-lived
assets for impairment when circumstances warrant such a
review. In performing this assessment, management
considers current market analysis and appraisal of the
technology, along with estimates of future cash flows. The
Company recognizes impairment losses when undiscounted
cash flows estimated to be generated from long-lived
assets are less than the amount of unamortized assets.
There were no unsuccessful and abandoned patents and
trademarks expensed in 2009.





			15





Note 7. Accrued Compensation

The Company has several employment agreements with its
officers and directors. Until the Company has sufficient
funds to satisfy the outstanding debt, the Company will
continue to accrue unpaid compensation on a quarter basis.
As of September 30, 2009, the accrued compensation balance
was $439,493.












			16





PART I

   This Interim Report on Form 10-Q contains forward-looking
statements that have been made pursuant to the provisions
of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934, and the Private
Securities Litigation Reform Act of 1995 and concern
matters that involve risks and uncertainties that could
cause actual results to differ materially from historical
results or from those projected in the forward-looking
statements. Discussions containing forward-looking
statements may be found in the material set forth under
"Business," "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and in other
sections of this Form 10-Q. Words such as "may," "will,"
"should," "could," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential," "continue"
or similar words are intended to identify forward-looking
statements, although not all forward-looking statements
contain these words. Although we believe that our opinions
and expectations reflected in the forward-looking
statements are reasonable as of the date of this Report, we
cannot guarantee future results, levels of activity,
performance or achievements, and our actual results may
differ substantially from the views and expectations set
forth in this Interim Report on Form 10-Q. We expressly
disclaim any intent or obligation to update any forward-
looking statements after the date hereof to conform such
statements to actual results or to changes in our opinions
or expectations.

   Readers should carefully review and consider the various
disclosures made by us in this Report, set forth in detail
in Part I, under the heading "Risk Factors," as well as
those additional risks described in other documents we file
from time to time with the Securities and Exchange
Commission, which attempt to advise interested parties of
the risks, uncertainties, and other factors that affect our
business. We undertake no obligation to publicly release
the results of any revisions to any forward-looking
statements to reflect anticipated or unanticipated events
or circumstances occurring after the date of such
statements.



			17




Item 2.  Management's Discussion and Analysis of Financial
Condition and Results of Operations.

The following discussion of our financial condition and
results of operations should be read in conjunction with
the financial statements and notes thereto and the other
financial information included elsewhere in this report.
Certain statements contained in this report, including,
without limitation, statements containing the words
"believes," "anticipates," "expects" and words of similar
import, constitute "forward looking statements" within the
meaning of the Private Securities Litigation Reform Act of
1995.  Such forward-looking statements involve known and
unknown risks and uncertainties.  Our actual results may
differ materially from those anticipated in these forward-
looking statements as a result of certain factors,
including our ability to create, sustain, manage or
forecast our growth; our ability to attract and retain key
personnel; changes in our business strategy or development
plans; competition; business disruptions; adverse
publicity; and international, national and local general
economic and market conditions.

Overview

The Company does not currently engage in any business
activities that provide significant cash flow. The
Company is currently in the development stage.

Results of Operations for the nine months period ended
September 30, 2009.

Revenue. There was $12,554 revenue for the nine months
period ended September 30, 2009.

Operating Expenses. For the nine months period ended
September 30, 2009, the company has total operating
expenses of $22,880.

Net Loss. The net loss for the nine months period ended
September 30, 2009 was $8,376.



			18




Liquidity and Financial Resources

The Company remains in the development stage under the new
management. Operations were financed through proceeds from
sales and the issuance of equity and loans from directors.

The Company's financial statements are presented on a
going concern basis, which contemplates the realization of
assets and the satisfaction of liabilities in the normal
course of business.  At September 30, 2009, we have been
unsuccessful in our efforts to raise additional capital to
meet our plan of operation. At the present time, and over
the next twelve months, our primary focus will be to
explore various methods for raising additional funds and
seeking profitable ventures.

Item 3. Quantitative and Qualitative Disclosures About
Market Risk.

The Company does not hold any derivatives or investments
that are subject to market risks. The carrying values of
any financial instruments, approximate fair value as of
those dates because of relatively short-term maturity of
these instruments which eliminates any potential market
risk associated with such instruments.
Item 4. Controls and Procedures.

The Company's Chief Executive Officer and its Chief
Financial Officer are primarily responsible for the
accuracy of the financial information that is presented in
this quarterly Report.  These officers have as of the close
of the period covered by this Quarterly Report, evaluated
the Company's disclosure controls and procedures (as
defined in Rules 13a-4c and 15d-14c promulgated under the
Securities Exchange Act of 1934 and determined that such
controls and procedures were effective in ensuring that
material information relating to the Company was made known
to them during the period covered by this Quarterly Report.
There have been no changes in our internal control over
financial reporting (as defined in Rules 13a-15(f) and 15d-
15(f) under the Exchange Act) during the third quarter of
our 2009 fiscal year that have materially affected, or are
reasonably likely to materially affect, our internal
control over financial reporting.



			19



PART II

Item 1.  Legal Proceedings.

Not available.

Item 1A. Risk Factors

As the Company has no recent operating history and little
revenue under the new management, there is a risk that we
will be unable to continue as a going concern and
consummate a business combination. We will, in all
likelihood, sustain operating expenses without
corresponding revenues, at least until the consummation
of a business combination. This may result in our
incurring a net operating loss that will increase
continuously until we can consummate a business
combination with a profitable business opportunity. We
cannot assure you that we can identify a suitable
business opportunity and consummate a business
combination.

FUTURE SUCCESS IS HIGHLY DEPENDENT ON THE ABILITY OF
MANAGEMENT TO LOCATE AND ATTRACT A SUITABLE ACQUISITION.

Item 2. Unregistered Sales of Equity Securities and Use of
Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

Not Applicable.

Item 4. Submission of Matters to a Vote of Security
Holders.

Not Applicable.

Item 5. Other Information.

None



			20





Item 6.  Exhibits

31.1  Certification of the Chief Executive Officer pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002, filed
herewith.

31.2  Certification of the Chief Financial Officer pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002, filed
herewith.

32.1 Certification of the Chief Executive Officer pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, filed
herewith.

32.1 Certification of the Chief Financial Officer pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, filed
herewith.


SIGNATURES

In accordance with the Securities Exchange Act of 1934,
this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on
the dates indicated.


Dated:  March 16, 2010

N I S Holdings, Corp

By: /S/ Brian Stewart
     Brian Stewart
 Chief Executive Officer
      & Director

By: /S/ Samantha Roberts
     Samantha Roberts
 Chief Financial Officer




			20