1 - ORGANIZATION
Media, Inc. (the Company) was incorporated in the state of Utah in April, 2005. On or about September 24, 2010,
the Company acquired Charta Systems, Inc. (Charta) for five million two hundred fifty thousand (5,250,000) shares
of the Companys common stock. Following the acquisition of the shares, Charta became a wholly owned subsidiary of the Company.
The acquisition was accounted for as a reverse merger and Charta is considered to be the accounting acquirer due to the following
factors: (1) Chartas stockholders received the larger share of the voting rights in the merger; (2) Charta received the
majority of the members of the Board of Directors; and (3) Chartas senior management prior to the merger dominated the
senior management of the combined company. Therefore, the historical financial information included in the financial statements
is that of Charta. While Chartas ownership became the majority ownership of the Company, the Company will continue under
the name City Media, Inc. Further, the Company approved an amendment to the Companys Articles of Incorporation. In addition
to other items set forth in the restated and amended Articles, the Company increased the authorized shares to one hundred million
(100,000,000) shares, par value $0.001 per share, with ninety million (90,000,000) shares designated as common stock and ten million
(10,000,000) shares designated as preferred stock. There are no preferred shares issued or outstanding and 8,968,000 shares of
common stock are outstanding as of the balance sheet date.
owns, maintains and places automated teller machines (ATMs) at high traffic consumer locations in Salt Lake City,
Utah and surrounding cities.
2010, the Companys fiscal year end was changed from December 31 to September 30.