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Article by DailyStocks_admin    (12-19-13 11:12 PM)

Description

SCOOP MEDIA, INC. 10% Owner FAI CHAN bought 2,000,000 shares on 12-10-2013 at $ 12,820

BUSINESS OVERVIEW

Business Overview

We were incorporated in the state of Nevada on March 18, 2011 and our principal business address is 24/F, Wyndham Place, 40-44 Wyndham Street, Central, Hong Kong. Our telephone number is 852-2258-6888. Our United States and registered statutory office is located at 2360 Corporate Circle, Suite 400, Henderson, NV 89074-7722, telephone number (702) 866-2500. We have established a fiscal year end of August 31. The objective of this corporation is to develop an Internet dating website review and information site.

We had planned to enter into the market with an information rich website that will allow users to review the features, benefits and costs of a large number of Internet dating websites. The Company has reserved the URL www.thedatescoop.com, but we have not yet begun developing the website located at this URL. Initial plans for the website included search feature allowing users to view lists of dating websites sorted by any various categories including, but not limited to, geographic focus of the dating website, emphasis on users of a specific age range, religion, race, lifestyle, sexual orientation etc. We had planned to provide customized reviews of these dating websites summarizing, if the information is available, the membership makeup of the website, the costs associated with using the website, any promotions or specials the website is offering, the search features available to users of the website and whether or not the site offers a mobile application.

We also intended to offer discussion forums where users of our website could exchange feedback, tips, dating advice and ideas of how to get the most out of their online dating experience. In order to be able to participate in our discussion forums, we intended to require users to register with us and provide, at a minimum, their age, gender postal or zip code and e-mail address.

We intended to generate revenue primarily through advertising and referral agreements. Many dating websites offer referral commissions whereby if another website sends a user to the dating site and that user subsequently purchases a membership, a commission is paid to the referring website.

Initially we intend to generate our advertising revenue through Google’s AdSense program. Google AdSense is an ad serving network run by Google Inc. Website owners can enroll in this program to enable text, image, and video advertisements on their websites. The Google Adsense network is an end to end advertising solution completely managed by Google. Advertisements are procured including associated payments, administered, maintained and technically delivered all by Google. The advertisements can generate revenue on either a per-click or per-impression basis. The Google Adsense program is free to use and the revenue split is 68% meaning the website operator is paid 68% of revenues generated by the advertisement. To be eligible to participate in the Google Adsense program websites must meet several criteria which management believes we currently meet. Google reserves the right to change these criteria at any time so we may not meet the criteria in the future. As usage of our website increases, we may seek targeted advertisements from other sources such as online or traditional advertising agencies.

During its fiscal year ended August 31, 2013, we continued our planning activities discussed above but did not engage in any operational activities.

On September 30, 2013, Xpress Group, Ltd., a Hong Kong company now known as Heng Fai Enterprises, Ltd. (“Heng Fai”) purchased 5,500,000 shares of the Common Stock of our company representing approximately 68.7% of its issued and outstanding common stock. Since that time the Company has been reconsidering its business plan and intended operations. The Company has not made any determinations regarding its business plan as of the date of the filing of this Form 10-K.

Market Opportunity

As the market continues to grow, navigating the increasing number of potential dating websites to join will present an increasingly daunting task to would-be daters. This means a growing opportunity for Scoop Media to consolidate and present useful information in a user-friendly, easily navigable format.

Management believes that as the online dating market becomes increasingly competitive, online dating website operators will make use of more targeted advertising strategies, which could likely include advertising on websites like ours. We might also develop a regular newsletter which we will send to users who register with our site informing them of the latest news from the online dating scene and any specials or discounts being offered by sites which we review.

As our user base, expertise and knowledge of the industry grows, we may chose to expand our services by creating our own dating website. While no formal plans, timeline or budget for such a project currently exist, management expects that such an endeavor would require additional financing.

Marketing

Our ability to generate advertising and referral revenue will be due in large part to our ability to get traffic to our website. A key aspect of generating traffic is a website’s ranking in the major search engines, particularly Google. Our initial marketing efforts will focus on getting our website ranked as highly as possible in the major search engines. This will include various search engine optimization (SEO) techniques such as the use of meta tags throughout our website, internal linking to optimize the ability of search engines to ‘spider’ our website and soliciting back links, whereby other websites link to ours. We will be dependent on an SEO company, or independent contractors, to perform such SEO techniques.

We may also engage the services of an SEO company to help build our ranking in the search engines. Many such companies exist and offer various services to help a websites’ search engine ranking. Specific allocation of marketing funds will occur based on the success of this offering.

Some search engines determine ranking in part by the amount of relevant content a website has in relation to the associated search term. We intend to launch our site with reviews and information on a large number of Internet dating websites. We intend to continue to increase the content on our site, both my information we input and by user reviews, feedback and related discussions in the forums we plan to offer.

Content

A key way by which we intend to distinguish our website is the breadth and depth of our content and information about the online dating world and the various services offered by different websites. After we create the back end database infrastructure for our website at www.thedatescoop.com, we intend to retain both data entry and editorial staff to populate our website with information and reviews about a large number of Internet dating websites. If we sell 50% or less of the planned offering we will likely continue to outsource content development, website development and marketing. If we sell 75% of the proposed offering we will likely hire a part time content manager. If we sell the complete offering we will likely hire a full time content manager. Again, while we cannot precisely estimate how many dating websites will be reviewed in the first version of our website, we expect the amount of shares sold to directly affect how many dating websites are reviewed in the first version of our site.

We plan to retain data entry staff to enter the basic information about a large number of Internet dating sites, including, but not limited to, the URL of the website, any information available on the number of members, pricing / membership packages, any specific focus of the website such as geographic, lifestyle etc., whether the site offers a mobile application and a list of features offered by the site and whether payment is required to use any of the features. Most of this information is generally available for free and easily discernible on most dating websites. We expect to be able to use comparatively less sophisticated and less expense data entry type staff for this.

We also intend to retain editorial staff to provide reviews and more in depth analysis of many of the sites, beginning with the larger and more popular ones. We expect this information to include comparisons and discussions of the various strengths and weaknesses of various sites in terms of their user friendliness, strength in certain geographic regions etc. We expect these content writers to be more expensive to retain than the data entry staff previously mentioned. Depending on the success of this offering, we may choose to focus first on the data entry portion of the project in order to get basic information on a large number of website to provide the greatest breadth possible to our service and then focus on the more in depth analysis as funds permit.

We may also augment our dating related content to include other dating services such as traditional match-making services, voice personals and local singles events.

Intellectual Property

We intend, in due course, subject to legal advice, to apply for trademark protection and/or copyright protection in the United States and other jurisdictions. In that regard, any summaries or reviews we write ourselves will be available for copyright protection. In addition, if we develop a logo, we may seek trademark protection for it.

We intend to aggressively assert our rights trademark and copyright laws to protect our intellectual property, including product technology, product research and concepts and recognized trademarks. These rights are protected through the acquisition of trademark registrations, the maintenance of copyrights, and, where appropriate, litigation against those who are, in our opinion, infringing these rights.

While there can be no assurance that registered trademarks and copyrights will protect our proprietary information, we intend to assert our intellectual property rights against any infringer. Although any assertion of our rights can result in a substantial cost to, and diversion of effort by, our Company, management believes that the protection of our intellectual property rights is a key component of our operating strategy.

Regulatory Matters

We are unaware of and do not anticipate having to expend significant resources to comply with any governmental regulations. We are subject to the laws and regulations of those jurisdictions in which we plan to sell advertising, which are generally applicable to business operations, such as business licensing requirements, income taxes and payroll taxes. In general, the development and operation of our business is not subject to special regulatory and/or supervisory requirements.

Employees

As of November 29, 2013, we had no employees other than our Chief Executive Officer, Conn Flanigan.

MANAGEMENT DISCUSSION FROM LATEST 10K

We were incorporated in the state of Nevada on March 18, 2011. The objective of this corporation is to develop an Internet dating website review and information site as more fully discussed in Item 1 - Business. Since our inception, we have only engaged in planning activities discussed above and did not engage in any operational activities.

On September 30, 2013, Xpress Group, Ltd., a Hong Kong company now known as Heng Fai Enterprises, Ltd. (“Heng Fai”) purchased 5,500,000 shares of the Common Stock of our company representing approximately 68.7% of its issued and outstanding common stock. On September 30, 2013 the Company’s board of directors appointed Conn Flanigan as its Chief Executive Officer, Chief Financial Officer and a director to hold office until the next annual meeting of shareholders and until his successor is duly elected and qualified or until his resignation or removal.

We are currently on a fiscal year ending August 31. We have defined various periods that are covered in this report as follows:



“fiscal 2013” – September 1, 2012 through August 31, 2013


“fiscal 2012” — March 18, 2011 (inception) through August 31, 2012.

Results of Operations

We had no revenue during the fiscal 2013 or fiscal 2012. Total operating expenses during fiscal 2013 decreased by $4,770 compared to fiscal 2012 as a result of lower general and administrative expenses. Our net loss in fiscal 2013 was $45,338, a decrease of $4,770 compared to fiscal 2012 as a result of the increases in our operating expenses and lack of revenue as discussed above.

Capital Resources and Liquidity

Liquidity is the ability of an enterprise to generate adequate amounts of cash to meet its needs for cash requirements. As of August 31, 2013 our working capital deficit amounted to $15,905, for a decrease of $20,338 as compared to a working capital surplus of $4,433 as of August 31, 2012. We rely upon cash generated from loans from related parties to fund our operations. We expect to continue to borrow working capital from related parties over the next twelve months. There are no limitations in our certificate of incorporation to borrow funds or raise funds through the issuance of capital stock.

Net cash used in operating activities during fiscal 2013 was $33,794 as compared to net cash used in operating activities of $35,108 for fiscal 2012. The decrease of $1,314 was primarily due to a decrease in our net loss partially offset by a reduction in prepaid expenses. Net cash provided by financing activities during fiscal 2013 increased by $25,000 compared to fiscal 2012 as a result of proceeds from issuance of our common stock.

Our auditors have issued a “going concern” opinion, meaning that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital. We do not anticipate deriving even nominal revenues until we have implemented our plan of operations. We must raise cash to implement our strategy and stay in business.

Management may decide, based on market conditions, to such future private placements if management believes such private placements are in the best interests of the Company. However, additional equity financing may not be available to us on acceptable terms or at all, and thus we could fail to satisfy our future cash requirements.

Offering

On February 22, 2012, the SEC declared our Registration Statement to register a total of 10,000,000 shares of our common stock, effective (the “Offering”). On September 25, 2012, the Company sold 2,500,000 shares of common stock to 32 investors at $0.01 per share pursuant to the Offering, for aggregate proceeds to the Company of $25,000. The Offering expired on August 29, 2012. Since we raised less than the maximum amount we intended in the Offering, we have curtailed the launch of our business until we are able to raise additional capital. There can be no assurance that additional capital will be available to us.

As of the date of this Report, the current funds available to the Company will not be sufficient to continue maintaining a reporting status past 12 months. We currently have no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Since we have no other such arrangements or plans currently in effect, our inability to raise funds to implement our proposed business will have a severe negative impact on our ability to remain a viable company.

We do not currently have any plans to conduct any research and development or to purchase or sell any significant equipment. If we are unable to obtain the working capital we require to operate our business, we will not hire any employees during the next 12 months.

Management believes if the Company cannot maintain its reporting status with the SEC it will have to cease all efforts directed towards the Company. As such, any investment previously made would be lost in its entirety.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the Company’s financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term “off-balance sheet arrangement” generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is a party, under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.

Critical Accounting Policies

The discussion and analysis of our results of operations and liquidity and capital resources are based on our consolidated financial statements, which have been prepared in accordance with GAAP. In connection with the preparation of our consolidated financial statements, the Company is required to make assumptions and estimates about future events, and apply judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and the related disclosures. The assumptions, estimates and judgments included within these estimates are based on historical experience, current trends and other factors we believe to be relevant at the time the condensed consolidated financial statements were prepared. On a regular basis, the accounting policies, assumptions, estimates and judgments are reviewed to ensure that the consolidated financial statements are presented fairly and in accordance with GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from the assumptions and estimates, and such differences could be material.

We discussed accounting policies and assumptions that involve a higher degree of judgment and complexity within Note 2 to the consolidated financial statements included in this annual report. Management believes that the application of these policies on a consistent basis enables us to provide useful and reliable financial information about our Company’s operating results and financial condition.

MANAGEMENT DISCUSSION FOR LATEST QUARTER

Overview

We were incorporated in the state of Nevada on March 18, 2011 and our principal business address is 2187 Preville St., Lasalle, QC, Canada H8N 1N4. Our telephone number is (514) 312-7576 and our fax number is (514) 312-7573. Our United States and registered statutory office is located at 2360 Corporate Circle, Suite 400, Henderson, NV 89074-7722, telephone number (702) 866-2500. We have established a fiscal year end of August 31. The objective of this corporation is to develop an Internet dating website review and information site.

We plan to enter into the market with an information rich website that will allow users to review the features, benefits and costs of a large number of internet dating websites. The Company has reserved the URL www.thedatescoop.com. Plans for the website include a search feature allowing users to view lists of dating websites sorted by any various categories including, but not limited to, geographic focus of the dating website, emphasis on users of a specific age range, religion, race, lifestyle, sexual orientation, etc. We plan to provide customized reviews of these dating websites summarizing, if the information is available, the membership makeup of the website, the costs associated with using the website, any promotions or specials the website is offering, the search features available to users of the website and whether or not the site offers a mobile application.

We also intend to offer discussion forums where users of our website can exchange feedback, tips, dating advice and ideas of how to get the most out of their online dating experience. In order to be able to participate in our discussion forums, we intend to require users to register with us and provide, at a minimum, their age, gender postal or zip code and e-mail address. We may also offer incentives, such as prizes in the form of short term memberships at various dating sites, to encourage users to provide us with more detailed personal information like their income range, dating history, computer and mobile usage habits and preferences for various features of dating websites. We may offer users the option to opt into promotional e-mails which we would then be able to send on a targeted basis on behalf of advertisers in order to increase our revenue opportunities. We could make these available to a wide range of potential advertisers, beyond the online dating market.

We intend to generate revenue primarily through advertising and referral agreements. Many dating websites offer referral commissions whereby if another website sends a user to the dating site and that user subsequently purchases a membership, a commission is paid to the referring website. Simultaneous with the development of our website, we intend to contact numerous dating websites, starting with the largest and most popular, and set up referral agreements where possible along with the associated coding required on our end to facilitate tracking of any referred traffic.

Initially we intend to generate our advertising revenue through Google’s AdSense program. Google AdSense is an ad serving network run by Google Inc. Website owners can enroll in this program to enable text, image, and video advertisements on their websites. The Google Adsense network is an end to end advertising solution completely managed by Google. Advertisements are procured including associated payments, administered, maintained and technically delivered all by Google. The advertisements can generate revenue on either a per-click or per-impression basis. The Google Adsense program is free to use and the revenue split is 68%, meaning the website operator is paid 68% of revenues generated by the advertisement. To be eligible to participate in the Google Adsense program websites must meet several criteria, which management believes we currently meet. Google reserves the right to change these criteria at any time so we may not meet the criteria in the future. As usage of our website increases, we may seek targeted advertisements from other sources such as online or traditional advertising agencies.

Management expects to have to invest in ongoing development, maintenance and expansion of the Company’s website in order to remain competitive. The scope of the ongoing development of the website will be determined by the revenue generated and potentially by future financing opportunities. The Company has not yet implemented its business model and to date has generated no revenues.

Scoop Media has no plans to change its business activities or to combine with another business and is not aware of any circumstances or events that might cause this plan to change.

Results of Operations

We had no revenue from March 18, 2011 (inception) through February 28, 2013 and expenses from inception through February 28, 2013 were $81,759, resulting in a net loss of $81,759.

For the three and six months ended February 28, 2013 and 2012

Revenues

We had no revenue for the three and six months ended February 28, 2013 and February 29, 2012.

Operating expenses

We incurred $3,572 in operating expenses, including professional fees and general administrative costs, during the three months ended February 28, 2013. We incurred $97 in operating expenses during the three months ended February 29, 2012.

We incurred $31,192 in operating expenses, including professional fees and general administrative costs, during the six months ended February 28, 2013. We incurred $7,732 in operating expenses during the six months ended February 29, 2012.

Net Loss

Our operating results have recognized a loss in the amount of $3,572 and $97 for the three months ended February 28, 2013 and February 29, 2012, respectively. Our operating results have recognized a loss in the amount of $31,192 and $7,732 for the six months ended February 28, 2013 and February 29, 2012, respectively.

Liquidity and Capital Resources

As of February 28, 2013, we had $9,121 in cash. Our auditors have issued a “going concern” opinion, meaning that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital. We do not anticipate deriving even nominal revenues until we have completed the financing from this offering and implemented our plan of operations. We must raise cash to implement our strategy and stay in business. Due to the fact that we do not currently have any salaried employees, we believe that 25% of the amount of the offering will likely allow us to operate our business for at least one year by implementing a working website and commencing an advertising program.

Management may decide, based on market conditions, to such future private placements if management believes such private placements are in the best interests of the Company. However, additional equity financing may not be available to us on acceptable terms or at all, and thus we could fail to satisfy our future cash requirements. We believe we will be able to generate sales revenue within sixty (60) days of the launch of our website that will consist entirely of Google AdSense based payments.

Offering

On February 22, 2012, the SEC declared our Registration Statement to register a total of 10,000,000 shares of our common stock, effective. Pursuant to that Registration Statement, we will sell the registered shares at a fixed price of $0.01 per share (the “Offering”). There is no minimum number of shares that must be sold by us for the Offering to close, and therefore we may receive no proceeds or very minimal proceeds from the offering. To date we have not sold any shares in the Offering.

We are highly dependent upon the success of the Offering. Therefore, the failure thereof would result in need to seek capital from other resources such as debt financing, which may not even be available to the Company. However, if such financing were available, because we are a development stage Company with no operations to date, it would likely have to pay additional costs associated with high risk loans and be subject to an above market interest rate. At such time these funds are required, management would evaluate the terms of such debt financing. If the Company cannot raise additional proceeds via a private placement of its common stock or secure debt financing, it would be required to cease business operations. As a result, investors would lose all of their investment.

We do not anticipate researching any further products or services nor the purchase or sale of any significant equipment. We also do not expect any significant additions to the number of employees.

As of the date of this Quarterly Report, the current funds available to the Company will not be sufficient to continue maintaining a reporting status past twelve months. The Company’s officers and directors, Mr. Awais Khan and Mr. Richard Lee have indicated that they may be willing to provide funds required to maintain the reporting status in the form of a non-secured loan for the next twelve months as the expenses are incurred if no other proceeds are obtained by the Company. However, there is no contract in place or written agreement securing this agreement. Management believes if the Company cannot maintain its reporting status with the SEC it will have to cease all efforts directed towards the Company. As such, any investment previously made would be lost in its entirety.

Recent Accounting Pronouncements

There are no recent accounting pronouncements that are expected to have an effect on the Company’s financial statements.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the Company’s financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term “off-balance sheet arrangement” generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is a party, under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.

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