OTC Bulletin Board

S & P Company Insight for STUDIO ONE MEDIA INC
 
 Profile

 
Business Summary: Studio One Media, Inc. engages in the development and manufacture of an interactive audio/video recording and conferencing studio designed for installation in shopping malls and other pedestrian high traffic public areas in the United States.
 
Address
  7650 E. Evans Rd.
  Suite C
  Scottsdale , AZ 85260-6966
  Phone: 480-556-9303
  Fax: 480-556-9442
  Website: http://www.mystudiomedia.com
Auditor
  Moore & Associates
Transfer Agent
  American Stock Transfer & Trust Co.
Employees:  21
ShareHolders:  425
Founded:  1988
Domicile:  Delaware
 
  
 
 Background

 
Studio One Media, Inc. engages in the development and manufacture of an interactive audio/video recording and conferencing studio designed for installation in shopping malls and other pedestrian high traffic public areas in the United States. The company primarily offers MyStudio video recording studio, which enables the public, for a fee, to step into a sound proof recording studio and record a three minute video in a private, and enter their performances in music, modeling, and other talent related contests. Its MyStudio is also used to record video resumes, dating profiles, and personal messages. Studio One Media is based in Scottsdale, Arizona.
History:  INCORPORATED in Delaware May 12, 1988 as Dimensional Visions Group, Ltd.; name changed to Dimensional Visions Inc. Jan. 15, 1998, to Elevation Media, Inc. Feb. 8, 2006, and to Studio One Media, Inc. Mar. 28, 2006. April 17, 2007, completed the acquisition of Studio One Entertainment, Inc. through the exchange of 7,000,000 Common shares of the company for 100% of the issued and outstanding shares of Studio One Entertainment.
 
Subsidiaries:
Studio One Entertainment, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2008  398
  2007  166
  2006  0
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2008  1,065
  2007  458
  2006  0
 
  
 
 Management

 

Management
OfficersPosition
 Barry M. Goldwater, Jr.Chairman
 Preston J. SheaPresident, Secretary & Chief Executive Officer
 Kenneth R. PinckardTreasurer, Chief Financial Officer & Chief Accounting Officer

Directors
 Barry M. Goldwater, Jr.
 Kenneth R. Pinckard
 Preston J. Shea
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  200820072008
Revenues
Sales$-$-$-
Cost of Sales---
Gross Profit---
Operating Expenses
General and Administrative Expenses7,561,25713,258,6815,158,340
Research and Development1,065,1681,522,838457,670
Total Operating Expenses8,626,42514,781,5195,616,010
Loss from Operations(8,626,425)(14,781,519)(5,616,010)
Other Income (Expense)
Interest Expense(14,553)(312,800)(22,844)
Other Income24,00524,005-
Gain on Extinguishment of Indebtedness-381,6838,267
Total Other Income (Expense)9,45292,888(14,577)
Loss before Income Taxes(8,616,973)(14,688,631)(5,630,587)
Income Tax Expense---
Net Loss$(8,616,973)$(14,688,631)$(5,630,587)
Basic Loss Per Share of Common Stock$(0.71) $(0.80)
Weighted Average Number of Shares Outstanding12,179,418 7,077,032
The accompanying notes are an integral part of these financial statements.
 
Balance Sheet
  20082007
ASSETS
Current Assets
Cash$391,109$417,236
Accrued Interest Receivable55,70132,535
Prepaid Expenses48,153124,184
Notes Receivable-Current178,752194,663
Total Current Assets673,715768,618
Property and Equipment, Net548,070156,956
Other Assets
Deposits29,6306,400
Intangible Assets, net857,923827,033
Total Other Assets887,553833,433
Total Assets$2,109,338$1,759,007
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable and Accrued Expenses$358,359$235,090
Notes Payable - Related Party108,319104,502
Notes Payable - Current49,38545,885
Total Current Liabilities516,063385,477
Long-Term Liabilities--
Total Liabilities516,063385,477
Stockholders' Equity
Preferred Stock, authorized 10,000,000 shares, par value $0.001;
issued and oustanding are 524,044 shares at June 30, 2008
and June 30, 2007, respectively524524
Common Stock, authorized 100,000,000 shares, par value $0.001;
issued and outstanding are 13,212,398 and 11,362,739 shares at
June 30, 2008 and June 30, 2007, respectively13,21211,363
Additional Paid in Capital40,672,47231,837,603
Accumulated Deficit - Pre Development Stage(24,404,302)(24,404,302)
Accumulated Deficit - Development Stage(14,688,631)(6,071,658)
Total Stockholders' Equity1,593,2751,373,530
Total Liabilities and Stockholders' Equity$2,109,338$1,759,007
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   240,000
  2009   360,000
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   Full Year Nil
  2007   1Nil
  2007   3Nil
  2007   Full Year Nil
  2006   1Nil
  2006   2Nil
  2006   3Nil
  2006   Full Year Nil
  2005   1Nil
  2005   2Nil
  2005   3Nil
  2005   Full Year Nil
  2004   1Nil
  2004   2Nil
  2004   3Nil
  2004   Full Year Nil
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2009   1(3,270,000)
  2009   2(2,310,000)
  2009   3(1,110,000)
  2008   1(1,340,000)
  2008   2(2,620,000)
  2008   3(2,050,000)
  2008   4(2,610,000)
  2008   Full Year (8,620,000)
  2007   1(460,000)
  2007   3(440,000)
  2007   Full Year (5,630,000)
  2006   1(30,000)
  2006   220,000
  2006   3(30,000)
  2006   Full Year (108,000)
  2005   1(20,000)
  2005   2(80,000)
  2005   3(20,000)
  2005   Full Year (106,700)
  2004   1(30,000)
  2004   2(20,000)
  2004   3(10,000)
  2004   Full Year (107,600)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2009   1(.24)
  2009   2(.16)
  2009   3(.07)
  2008   1(.12)
  2008   2(.22)
  2008   3(.16)
  2008   4(.21)
  2008   Full Year (.71)
  2007   1(.16)
  2007   2(.13)
  2007   3(.13)
  2007   4(.23)
  2007   Full Year (.80)
  2006   1(.02)
  2006   2(.02)
  2006   3(.03)
  2006   4.04
  2006   Full Year (.08)
  2005   1(.02)
  2005   2(.07)
  2005   3(.02)
  2005   Full Year (.10)
  2004   1Nil
  2004   2Nil
  2004   3(.02)
  2004   Full Year (.22)
 
  
 
 Stock Data

 
 
Capitalization as of 06/30/2008:
 
 Authorized SharesOutstanding Shares
Preferred $0.001 par10,000,000524,044so1
Common $0.001 par100,000,00013,212,398
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  06/30/2008, 425.
PRINCIPAL STOCKHOLDERS: June 30, 2008, Lawrence G. Ryckman owned or controlled 38.5% of the Common, Perry D. Logan 10.8% and Andrea Dworshak 5.3%.
 
Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): SOMD
 
ExchangeYearHighLow
OTC Bulletin Board20086.50000.5600
OTC Bulletin Board20076.95003.7000
OTC Bulletin Board20066.90000.3000
OTC Bulletin Board20057.25001.4500
OTC Bulletin Board20047.00000.2999
OTC Bulletin Board20031.31970.0059
OTC Bulletin Board20022.09950.0059
OTC Bulletin Board20010.37000.0200
OTC Bulletin Board20000.56000.1300
 
DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-60, May 18, 2004.
 
 
  so1Closely held. Consists of: Series A, 15,500 shares; Series B, 3,500 shares; Series C, 13,404 shares; Series D, 130,000 shares; Series E, 275,000; and Series P, 86,640 shares. Each share is convertible into Common as follows: Series A, 0.027 Common share; Series B, 0.067 Common share; Series C, 0.007 Common share; Series D, 0.034 Common share; Series E, 0.034 Common share; and Series P, 0.007 Common share.