Light Media : Q2-2022

Light Media Holdings, Inc.

Balance Sheet

as of June 30, 2022

UNAUDITED

ASSETS
Current Assets
Cash	109,126
Prepaid Expense		5,836
Total Current Assets	114,962
Fixed Assets
Equipment	15,095
Accumulated Depreciation	(5,606)
Land-WGFS		50,000
Total Fixed Assets	59,489
Other Assets
Media Investment	74,121
Media and Entertainment Portfolio	57,975
Total Other Assets		132,096
TOTAL ASSETS		306,546
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable	-
Total Current Liabilities	-
Long Term Liabilities	-
Total Long Term Liabilities		-
Total Liabilities	-
Equity
Opening Bal Equity	5,161
Stockholder's Equity	5,647
Additional Paid in Capital	2,269,057
Shares Outstanding	55,600,200
Investment in Invaluable Media	33,000
Retained Earnings	(1,934,982)
Net Income	(71,337)
Total Equity		306,546
TOTAL LIABILITIES & EQUITY		306,546

Light Media Holdings, Inc.

Income Statement

as of June 30, 2022

UNAUDITED

Sales	35,449
Cost of Goods Sold	4,988
Gross Profit	30,461
Communications/IT	5,503
Office Expense	937
Professional Fees	750
Depreciation	490
Media Expense	16,583
Radio Expense	46,527
Selling Expense	5,000
Research & Development	7,200
Cost of Capital	4,700
Travel
Taxes & Licenses
Operating Expenses	87,691
Income (Loss) before income taxes	(57,230)
Income Taxes
Net Ordinary Income	(57,230)
Other Income
Interest Income	3
Net Income
(57,227)

Light Media Holdings, Inc.

Statement of Cash Flows

as of June 30, 2022

UNAUDITED

Operating Activities
Net Income	(57,227)

Adjustments to reconcile Net Income to net cash provided by operations:

Inventory	-
Prepaid Expense	(5,836)
Accounts Payable	-
Net cash provided by Operating Activities	(5,836)
Investing Activities
Equipment	-
Accumulated Depreciation	490
Net cash provided by Investing Activities	490
Financing Activities
Short Term Liabilities	-
Long Term Liabilities	-
Common Stock Issued	-
Additional Paid In Capital	-
Net cash provided by Financing Activities	-
Net Cash Increase (Decrease) for Period	(62,573)
Cash at beginning of period	171,698
Cash at end of period	109,126

Light Media Holdings, Inc.

Statement of Changes in Shareholders Equity

as of June 30, 2022

UNAUDITED

							Investment	Current Year		Opening
					Additional Paid In		Invaluable		Net		Balance		Retained	Total Stockholders
		Common Stock		Capital		Media	Income/Loss		Equity		Earnings		Equity
		Number of Shares	Amount
Balance March 31, 2022
	55,600,200	5,647		2,269,056	33,000	$	(243,280)	$	5,161	$	(1,934,982)		363,773
Common Stock Issued
Common Stock Acquired
Dividends Declared on Common Stock
Investment In Invaluable Media
Comprehensive Income:
Net Income/(Loss)							$	(57,227)					$	(57,227)
Balance June 30, 2022
	55,600,200	5,647		2,269,055	33,000	$	(300,507)	$	5,161	$	(1,934,982)		306,546

Exhibit A

Notes to Financial Statements For The Quarterly-period Ending June 30, 2022

This summary of significant accounting principles of Light Media Holdings, Inc. is presented to assist in understanding the Company's financial statements. These accounting policies consistently conform to generally accepted accounting principles.

1. Accounting Basis: These financial statements have been prepared in accordance with generally accepted accounting principles.
2. Dividends: The Company has not adopted a policy regarding the payment of dividends. In lieu of dividends, the Company has repurchased over 400,000 common shares, and has reaffirmed its stock buy-back plan for 2021-2022.
3. Cash and Cash Equivalents: All highly liquid investments with original maturities of three months or less at the date of acquisition are considered cash equivalents. These investments primarily consist of money market funds and commercial paper. The Company continues to seek opportunities to minimize costs and maximize revenues through sales initiatives so as to improve its cash position. Company is also seeking to raise additional capital for operations and acquisitions.
4. Revenue: The Company's revenues are derived from media sales through distributors. The company recognizes income on the cash receipts when earned. Prior to Covid-19, the Company experienced rapid sales growth, but this was limited post-Covid-19 and the Company is anticipating that Revenue will grow in 2022, depending on the Omnicron-variant containment of Cov-19, as well as pressing inflationary pressures on consumers, potentially impacting purchasing power and advertising revenues. The company however was selected by a Fortune 100 vehicle manufacturer as a strategic local marketing resource..
5. Accounts Receivable: The Company records revenues when earned. Due to the nature of the business distributors retain a reserve of funds to offset distribution expense. The net of these funds are returned to the company. The reserves are retained to offset expense is recorded as expense to the company in the period incurred.
6. Credit Risk: Financial Instruments that potentially subject the company to concentrations of credit risk consist principally of cash accounts in financial institutions, which may from time to time exceeds the Federal depository insurance coverage limit. The company has no credit risk.
7. Property and Equipment: Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization computed using straight-line method over the estimated useful lives of the assets. When the assets are retired or otherwise disposed of, the cost and related depreciation are removed and any gain or loss is reflected in the results of operations. Maintenance and repair expenditures are charged to operations as incurred.
8. Stockholder's Equity: In accordance with SFAS 123, the issuance of stock as payment for services was recorded as an increase in equity and a current year expense.
9. General and Administrative Expenses: General and administrative expenses consist of primarily occupancy expense, professional fees, office expense, travel, and advertising. Following this offering, we will incur additional general and administrative expenses related to operating as a public company, such as increased legal and accounting fees, personnel and benefit expenses, and investor relation costs. The Company continues to prudently manage its overhead expenses, and will continue to maintain cost-discipline through and beyond Covid-19 recovery period. Higher expenses are centered on Cov-19 adverse impact on operations, as well as inflationary pressures impacting all businesses and consumers worldwide.
10. Income Taxes: Under the Tax Reformed Act of 1986, the benefits from net operating losses carried forward may be impaired or limited in certain circumstances. The company makes no provisions for such benefits and reports only the actual income tax expense in the income statement.
11. Advertising Costs: Advertising cost is expensed as incurred.