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EXCEL - IDEA: XBRL DOCUMENT - City Media, Inc.Financial_Report.xls
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EX-31 - CITY MEDIA, INC. - 10K 9-30-12 - EXHIBIT 31 - City Media, Inc.citymedia10k93012ex31.htm
EX-32 - CITY MEDIA, INC. - 10K 9-30-12 - EXHIBIT 32 - City Media, Inc.citymedia10k93012ex32.htm
10-K - CITY MEDIA, INC. - 10K 9-30-12 - City Media, Inc.citymedia10k93012.htm
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v2.4.0.6
Organization
12 Months Ended
Sep. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization

NOTE 1 - ORGANIZATION

 

City 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 Company’s 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) Charta’s 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) Charta’s 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 Charta’s 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 Company’s 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.

 

The Company owns, maintains and places automated teller machines (“ATMs”) at high traffic consumer locations in Salt Lake City, Utah and surrounding cities.

 

During 2010, the Company’s fiscal year end was changed from December 31 to September 30.