FORWARD-LOOKING STATEMENTS

This Report on Form 10-Q contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Reference is made in particular to the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking statements included in this report. Such statements may be identified by the use of forward-looking terminology such as "may," "will," "expect," "believe," "estimate," "anticipate," "intend," "continue," or similar terms, variations of such terms or the negative of such terms. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Such statements address future events and conditions concerning, among others, capital expenditures, earnings, litigation, regulatory matters, liquidity and capital resources, and accounting matters. Actual results in each case could differ materially from those anticipated in such statements by reason of factors such as future economic conditions, changes in consumer demand, legislative, regulatory and competitive developments in markets in which we operate, results of litigation, and other circumstances affecting anticipated revenues and costs, and the risk factors set forth in the financial statements and related notes included on the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed on April 15, 2021.

As used in this Form 10-Q, "we," "us," and "our" refer to Crank Media Inc., which is also sometimes referred to as the "Company."





General Overview

We were incorporated in Nevada on February 26, 2013, and on April 4, 2016, amended the Articles of Incorporation to change the name of the Company to Team 360 Sports Inc, on April 4, 2016, and then to Crank Media Inc, on December 22, 2020.

The Company has its Nevada registered office at 711 S. Carson Street, Suite 4, Carson City, Nevada 89701. The Company's main phone number is 604-558-2515. Its principal operations are conducted from its office at 1720 - 650 West Georgia Street, Vancouver, British Columbia, Canada V6B 4N8. The Company's website on the Internet at www.crankmedia.ca.

The Company's primary business activities are related to (i) the planning and development for the production and distribution of music recordings, with four different music recording artists currently under contract, (ii) the planning and development of the production and distribution of movies, with two films currently in pre-production and two other film scripts currently being completed, and (iii) the planning and development of the production and distribution of television shows, with two shows currently in pre-production, one show in the phase of having the rights to certain of its episodes being marketed, and a fourth show in a very preliminary stage of development. The Company also is attempting to develop and build its virtual studio, and also intends to further develop its easy to use platform digital administration management systems for amateur sport s clubs, leagues and teams.

At March 31, 2021, the Company has had minimal revenues as the activities described above are primarily in planning and development stages. The Company's fiscal-year end is December 31.





COVID-19

A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. The primary adverse impact of COVID-19 on the Company's results of operations and financial position as of March 31, 2021 has been a slowdown in the Company's film and television production activities. The full extent of the future impacts of COVID-19 on the Company's plan of operations is uncertain. A prolonged outbreak could have a material adverse impact on the Company's ability to pursue its business plan in the manner and timing anticipated.






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Results of Operations

The following discussion and analysis should be read in conjunction with the Company's unaudited financial statements for the three months ended March 31, 2021, and 2020, and accompanying notes appended thereto that are included in this quarterly report.

For the Three Months Ended March 31, 2021 and 2020





Our operating results for the three months ended March 31, 2021 and 2020, are as
follows:



                               Three Months Ended
                                    March 31,
                               2021          2020         Changes ($)
Revenues                     $     639     $     639     $           -
Operating expenses           $ 328,145     $ 136,874     $     191,271
Interest expense             $   8,790     $   6,384     $       2,406

Loss on settlement of debt $ 142,150 $ - $ 142,150 Net loss

$ 478,446     $ 142,619     $     193,677

Revenues are related to the Licensing Agreement dated November 1, 2016. The onetime nonrefundable fee and the set up and training fees are being recognized over the life of the agreement, which terminates on December 1, 2021.





Operating Expenses

For the three months ended March 31, 2021, operating expenses were $274,000 for related party compensation expenses and $54,145 for general and administration expenses.

For the three months ended March 31, 2020, operating expenses were $125,000 for related party compensation expenses and $11,874 for general and administration expenses.





Other Expenses

For the three months ended March 31, 2021, and 2020, other expenses were $240 and $5,689 for interest on loans, respectively and $8,550 for finance cost of note payable and $695 for amortization discount on convertible note, respectively.

For three months ended March 31, 2021 and 2020, other expenses were $142,150 and $0 for loss on settlement of debt, respectively.

Liquidity and Capital Resources

The following table provides selected financial data about the Company as of March 31, 2021 and December 31, 2020, respectively:





Working Capital



                               March 31,       December 31,
                                  2021             2020
Cash                           $        -     $          358

Current Assets                 $   24,928     $          358
Current Liabilities            $  257,849     $      492,597
Working Capital (Deficiency)   $ (257,849 )   $     (492,239 )




Cash Flows



                                                Three Months Ended
                                                     March 31,
                                                2021          2020         Changes ($)

Cash Flows used in Operating Activities $ (358 ) $ (13,774 ) $ 13,416 Cash Flows provided by Financing Activities $ - $ 13,774 $ (13,774 ) Net Change in Cash During Period

$   (358 )    $       -     $        (358 )





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As of March 31, 2021, and December 31, 2020, our current assets were $24,928 and $358, respectively, from solely cash.

As of March 31, 2021, our current liabilities and working capital deficiency decreased as compared to December 31, 2020, primarily from settlement of domain names liabilities.

As of March 31, 2021, current liabilities consisted primarily of $164,478 to promissory note payable, $12,450 due to related party, $79,215 to accounts payable and accrued liabilities and $1,706 to deferred revenue.

As of December 31, 2020, our current liabilities consisted primarily of $350,000 to liabilities to be settled in stock, $90,240 to convertible notes, $21,849 to loan payable, $12,450 due to related party, $14,713 to accounts payable and





Operating Activities

During the three months ended March 31, 2021, net cash used in operating activities was $358, compared to $13,774 for the three months ended March 31,2020.

The net cash used in operating activities for the three months ended March 31, 2021, was attributed to a net loss of $478,446, decreased by an accrued related party compensation of $24,000 for officers' salary, loss of settlement of debts of $142,150, stock issued for debt to related party of $250,000, of $7,928 and decreased by a change in accounts payable and accrued liabilities of $54,027 and increased by a change in deferred revenue of $639.

The net cash used in operating activities for the three months ended March 31,2020, was attributed to a net loss of $142,619, decreased by an accrued related party compensation of $125,000, amortization of discount on convertible note of $695, decreased by a change in accounts payable and accrued liabilities of $3,789 and increased by a deferred revenue of $639.





Investing Activities

The Company did not use any funds for investing activities during the three months ended March 31, 2021, and 2020.





Financing Activities

During the three months ended March 31, 2021, net cash provided by financing activities was $0, compared to $13,774 for the three months ended March 31, 2020, from loans.

Off-Balance Sheet Arrangements

As of March 31, 2021, the Company had no material off-balance sheet arrangements

Critical Accounting Policies and Estimates

The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles and the Company's discussion and analysis of its financial condition and operating results require the Company's management to make judgments, assumptions and estimates that affect the amounts reported. Management bases its estimates on historical experience and on various other assumptions it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates, and such differences may be material.

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