The Punch Television Network Agreement and the employment agreements have been rescinded, and the entire transaction has been canceled.  All shares of the Company issued as a result of the previous contract are canceled as a result of the Rescission (totaling 285 million shares of common stock). As a result of the rescission of the Punch Television Network Agreement, IC Punch Media, Inc. will change its name to VU Media Corporation which change requires us to file Amended Articles of Incorporation with the Delaware Secretary of State's office after a Section 14 filing with the Securities and Exchange Commission.