CHINA DIGITAL MEDIA CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION We are hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward looking statements made in this quarterly report on Form 10-Q. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "likely will result", "are expected to", "will continue", "is anticipated", "estimated", "intends", "plans" and "projection") are not historical facts and may be forward-looking statements and involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein, as well as the factors described generally in our Form 10-K for the year ended December 31, 2008, and specifically the factors described in such Form 10-K in the section entitled "Item 1. Business - Risk Factors"-, could cause actual results to differ materially from those expressed in any forward-looking statements and that the investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events or circumstances. Consequently, no forward-looking statement can be guaranteed. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of fa...
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CHINA DIGITAL MEDIA CORP Financials

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CHINA DIGITAL MEDIA CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION We are hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward looking statements made in this quarterly report on Form 10-Q. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "likely will result", "are expected to", "will continue", "is anticipated", "estimated", "intends", "plans" and "projection") are not historical facts and may be forward-looking statements and involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein, as well as the factors described generally in our Form 10-K for the year ended December 31, 2008, and specifically the factors described in such Form 10-K in the section entitled "Item 1. Business - Risk Factors"-, could cause actual results to differ materially from those expressed in any forward-looking statements and that the investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events or circumstances. Consequently, no forward-looking statement can be guaranteed. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of fa...
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CHINA DIGITAL MEDIA CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION We are hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward looking statements made in this quarterly report on Form 10-Q. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "likely will result", "are expected to", "will continue", "is anticipated", "estimated", "intends", "plans" and "projection") are not historical facts and may be forward-looking statements and involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein, as well as the factors described generally in our Form 10-K for the year ended December 31, 2008, and specifically the factors described in such Form 10-K in the section entitled "Item 1. Business - Risk Factors"-, could cause actual results to differ materially from those expressed in any forward-looking statements and that the investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events or circumstances. Consequently, no forward-looking statement can be guaranteed. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of fa...
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CHINA DIGITAL MEDIA CORP Files SEC form 10-K/A, Annual Report

ITEM 7. Management's Discussion and Analysis This discussion and analysis should be read in conjunction with the Company's Consolidated Financial Statements and related notes thereto included in Part II, Item 7 of this Report. All amounts are expressed in U.S. dollars. Please also refer to our forward-looking statement. Overview During 2008, the Company reported a revenue of $7,290,344 (2007: $7,480,453), a decrease of 3% as compared with last year, and a net loss of $13,375,575 (2007 loss: $4,094,935). The Company's business plan is to complete the DTV migration program in Nanhai. The Company will focus its resources toward developing VAS to facilitate the future growth of the subscription income. Critical Accounting Policies The following discussion and analysis is based upon the Company's consolidated financial statements, which have been prepared in conformity with accounting principles generally accepted in the United States of America. The Company's significant accounting policies are more fully described in the Notes to the Consolidated Financial Statements. However, certain accounting policies and estimates are particularly important to the understanding of the Company's financial position and results of operations and require the application of significant judgment by the Company's management or can be materially affected by changes from period to period in economic factors or conditions that are outside of the control of management. As a result they are subject to an inherent degree of uncertainty. In applying these policies, the Company's management uses their judgment to determine the appropriate assumptions to be used in the determination of certain estimates. Those estimates are based on the Company's historical operations, its future business plans and projected financial results, the terms of existing contracts, the Company's observance of trends in the industry, information provided by customers and information available from other o...
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CHINA DIGITAL MEDIA CORP Files SEC form 10-K, Annual Report

ITEM 7. Management's Discussion and Analysis This discussion and analysis should be read in conjunction with the Company's Consolidated Financial Statements and related notes thereto included in Part II, Item 7 of this Report. All amounts are expressed in U.S. dollars. Please also refer to our forward-looking statement. Overview During 2008, the Company reported a revenue of $7,290,344 (2007: $7,480,453), a decrease of 3% as compared with last year, and a net loss of $13,375,575 (2007 loss: $4,094,935). The Company's business plan is to complete the DTV migration program in Nanhai. The Company will focus its resources toward developing VAS to facilitate the future growth of the subscription income. Critical Accounting Policies The following discussion and analysis is based upon the Company's consolidated financial statements, which have been prepared in conformity with accounting principles generally accepted in the United States of America. The Company's significant accounting policies are more fully described in the Notes to the Consolidated Financial Statements. However, certain accounting policies and estimates are particularly important to the understanding of the Company's financial position and results of operations and require the application of significant judgment by the Company's management or can be materially affected by changes from period to period in economic factors or conditions that are outside of the control of management. As a result they are subject to an inherent degree of uncertainty. In applying these policies, the Company's management uses their judgment to determine the appropriate assumptions to be used in the determination of certain estimates. Those estimates are based on the Company's historical operations, its future business plans and projected financial results, the terms of existing contracts, the Company's observance of trends in the industry, information provided by customers and information available from other o...
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CHINA DIGITAL MEDIA CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exh

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On December 08, 2008, the Company's Board of Directors entered into an extension agreement (the "Extension Agreement") with Vision Opportunity Master Fund Ltd. ("Vision") in connection with the convertible debenture discussed below. On November 17, 2006, the Company issued to Vision, and Vision purchased from the Company, a convertible debenture in the amount of Two Million One Hundred Fifty Thousand Dollars ($2,150,000), which carries interest thereon at a rate of four percent (4%) per annum and is convertible at $0.45 per share (the "Debenture"). The Debenture carries penalty interest, payable in cash and monthly, at a simple rate of 1.5% per month until the principal and interest has been paid in full. To date, Vision has converted $135,000 of the Debenture principal into shares of Company common stock. In connection with the Debenture, the Company issued Vision three (3) warrants consisting of (i) a Class A Warrant to purchase 4,777,773 common shares at an exercise price of $0.80 per share, (ii) a Class B Warrant to purchase 4,777,773 common shares at an exercise price of $1.20 per share, and (iii) a Class C Warrant to purchase 2,388,887 common shares at an exercise price of $2.25 (collectively, the "Warrants"). The maturity date of the Debenture was May 17, 2008. The Company has not repaid the outstanding amounts on the Debenture, and the Company is in default on the Debenture, which has a balance of principal in the amount of $2,015,000.00 (the "Principal") and accrued interest on the Debenture in the amount of $30,672.81, such principal and interest totaling $2,045,672.80 (the "Outstanding Balance"). The Extension Agreement is provided as follows: 1) Extension Repayment Table and Interest Calculation. The Company and Vision agreed that Company shall pay interest on the Principal pursuant to the structured extension table below. Interest shall be calc...
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CHINA DIGITAL MEDIA CORP Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION We are hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward looking statements made in this quarterly report on Form 10-Q. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "likely will result", "are expected to", "will continue", "is anticipated", "estimated", "intends", "plans" and "projection") are not historical facts and may be forward-looking statements and involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein, as well as the factors described generally in our Form 10-KSB for the year ended December 31, 2007, and specifically the factors described in such Form 10-KSB in the section entitled "Item 1. Business - Risk Factors"-, could cause actual results to differ materially from those expressed in any forward-looking statements and that the investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events or circumstances. Consequently, no forward-looking statement can be guaranteed. There have not been any material changes in the risk factors previously disclosed in our Form 10-KSB for the year ended December 31, 2007 filed with the SEC on April 16, 2008. New factors emerge from time to time, and it is not p...
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