Subsequent to March 31, 2013, on May 15, 2013, the Company rescinded the Punch Television Network Agreement and all associated employment agreements and the entire transaction has been cancelled by mutual agreement of both parties. All shares 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 ). Joseph Collins resigned as President and director as result of the rescission of the Punch Television Network Agreement.