FORWARD-LOOKING STATEMENTS

There are statements in this quarterly report on Form 10-Q that are not historical facts. These "forward-looking statements" can be identified by use of terminology such as "believe", "hope", "may", "anticipate", "should", "intend", "plan", "will", "expect", "estimate", "project", "positioned", "strategy", and similar expressions. Although management believes that the assumptions underlying the forward-looking statements included in this quarterly Report are reasonable, they do not guarantee our future performance, and are subject to certain risks, uncertainties and assumptions that are difficult to predict; therefore, actual results and outcomes may differ materially from what is expressed or forecasted in any such forward-looking statements.





OVERVIEW

Wall Street Media Co, Inc. (the "Company") was organized in the state of Nevada on January 6, 2009. Since its inception, the Company had various names until August 2013 when the name was changed to Wall Street Media Co., Inc from Bright Mountain Holdings, Inc.

The Company provides consulting and management services to entities looking to merge with or acquire or otherwise consult with third party entities. These services are currently provided to Landmark-Pegasus, Inc., a related party ("Landmark-Pegasus") or its clients. Landmark-Pegasus is wholly owned by John Moroney, the Company's majority shareholder. Mr. Moroney also acts as Landmark-Pegasus' President.





Impact of COVID-19

In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The Company is monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and business is uncertain. Accordingly, while the Company does not anticipate an impact to the operations, we cannot estimate the duration of the pandemic and potential impact on the business. In addition, a severe or prolonged economic downturn could result in a variety of risks to the business, including a possible delay in implementing the Company's business plan. At this time, the Company is unable to estimate the ultimate impact of this event on its current or future operations.





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CRITICAL ACCOUNTING POLICIES

In response to the Securities and Exchange Commission's (the "SEC") financial reporting release, FR-60, Cautionary Advice Regarding Disclosure About Critical Accounting Policies, the Company has selected its more subjective accounting estimation processes for purposes of explaining the methodology used in calculating the estimate, in addition to the inherent uncertainties pertaining to the estimate and the possible effects on the Company's financial condition. These accounting estimates are discussed below. These estimates involve certain assumptions that if incorrect could create a material adverse impact on the Company's results of operations and financial condition.





Revenue Recognition

The Company recognized revenue using the five-step revenue recognition model as prescribed by ASC 606, "Revenue from Contracts with Customers". The underlying principle of new standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects to receive in exchange for the goods or services. The Company adopted the standard using the modified retrospective method and the adoption did not have a material impact on its financial statements.

The Company provides consulting services currently to an entity wholly owned by the Company's majority stockholder or the related entity's clients which represents the Company's only revenue source. The Company recognizes revenue when the performance obligation (i.e. consulting services) with the customer is satisfied and when the service is provided. Revenue is measured as the amount of consideration the Company expects to receive in exchange for providing the service.





RESULTS OF OPERATIONS

FOR THE THREE MONTHS ENDED DECEMBER 31, 2021 COMPARED TO THE THREE MONTHS ENDED DECEMBER 31, 2020

Revenue: The Company's revenues decreased approximately 25% to $15,000 during the three months ended December 31, 2021 as compared to $20,000 for the three months ended December 31, 2020 due to a decrease in consulting services provided.

Operating Expenses: The Company's operating expenses decreased by approximately 54% to $7,596 during the three months ended December 31, 2021 as compared to $16,654 for the three months ended December 31, 2020 primarily due to the recovery of bad debt from a related party.

Income from operations: The Company's income from operations increased approximately 121% to $7,404 during the three months ended December 31, 2021 from a net income from operations of $3,346 for the three months ended December 31, 2020. The primary reason for this was due to the recovery of bad debt from a related party.

LIQUIDITY AND CAPITAL RESOURCES

Net cash provided by operating activities was $10,129 for the three months ended December 31, 2021 as compared to $1,246 for the three months ended December 31, 2020. The increase was primarily due to the collection of accounts receivable - related party.

As of December 31, 2021, the Company had $11,285 in cash. The Company has sustained losses from operations, and such losses are expected to continue. The Company's auditors have included a "Going Concern Qualification" in their report for the year ended September 30, 2021. In addition, the Company has a working capital deficit and accumulated deficit at December 31, 2020 of $81,027 and $1,405,427, respectively, with minimal revenues. The foregoing raises substantial doubt about the Company's ability to continue as a going concern. The Company is actively seeking to combine or merge with another operating company. There can be no assurance that the level of funding needed will be acquired or that the Company will generate sufficient revenues to sustain operations for the next twelve months. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.





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RELATED PERSON TRANSACTIONS

100% of the Company's revenues for the quarters ended December 31, 2021 and 2020 were generated by an entity wholly owned by the Company's majority shareholder or the entity's clients.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company's consolidated financial statements.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources, that is material to investors.

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