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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      DC 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT PURSUANT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>TO
      SECTION 13 OR 15(D) OF THE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      EXCHANGE ACT OF 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      report (Date of earliest event reported):</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>
      August 14, 2006</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Tube
      Media Corp.
</font>
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Registrant as Specified in Its Charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delaware
</font>
      <div>
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      </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
      or
      Other Jurisdiction of Incorporation)</font></div>
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    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="19%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">005-79752</font></div>
            </td>
            <td valign="top" width="19%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">84-1557072</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                File Number)</font></div>
            </td>
            <td valign="top" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                Employer Identification No.)</font></div>
            </td>
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      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="19%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1451
                West Cypress Creek Road, Fort Lauderdale, Florida</font></div>
            </td>
            <td valign="top" width="19%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">33309</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                of Principal Executive Offices)</font></div>
            </td>
            <td valign="top" width="19%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                Code)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(954)
      714-8100
</font>
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      </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
      Telephone Number, Including Area Code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">N/A
</font>
      <div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      Name or Former Address, if Changed Since Last Report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
      Instruction A.2. below):</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
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      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Forward-Looking
      Statements</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      document may include a number of &#8220;forward-looking statements&#8221; as that term is
      defined in Section 27A of the Securities Act of 1933, as amended, and Section
      21E of the Securities Exchange Act of 1934, as amended. These statements reflect
      management&#8217;s current views with respect to future events and financial
      performance and include statements regarding management&#8217;s intent, belief or
      current expectations, which are based upon assumptions about future conditions
      that may prove to be inaccurate. Prospective investors are cautioned that any
      such forward-looking statements are not guarantees of future performance,
      involve risk and uncertainties, and that as a result, actual results may differ
      materially from those contemplated by such forward-looking statements. Such
      risks include, among other things, the volatile and competitive markets in
      which
      we operate, our limited operating history, our limited financial resources,
      our
      ability to manage our growth and the lack of an established trading market
      for
      our securities. When considering forward-looking statements, readers are urged
      to carefully review and consider the various disclosures, including risk factors
      and their cautionary statements, made by us in this document and in our reports
      filed with the Securities and Exchange Commission.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
      into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      August
      14, 2006, The Tube Media Corp. (the &#8220;Company&#8221;) entered into a subscription
      agreement (&#8220;Subscription Agreement&#8221;) with accredited investors (&#8220;Investors&#8221;) to
      complete a private placement (the &#8220;Private Placement&#8221;) of $990,000 in aggregate
      principal amount of securities. Pursuant to the terms of the Subscription
      Agreement, the Company sold convertible notes in the aggregate principal amount
      of $990,000 (the &#8220;Notes&#8221;) and issued common stock purchase warrants to purchase
      an aggregate of 385,714 shares of the Company&#8217;s common stock, par value $0.0001
      per share (the &#8220;Common Stock&#8221;), at an exercise price of $2.25 per share (the
&#8220;Warrants&#8221;) to the Investors. The Company received cash proceeds from the
      issuance of the Notes of $900,000 of which $500,000 was deposited on August
      14,
      2006 and the remaining $400,000 was deposited on August 17, 2006. The Notes
      and
      Warrants were issued on August 17, 2006. Palladium Capital Advisors LLC acted
      as
      placement agent on this transaction.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the terms of the Notes, the Company is required to make a single payment
      of
      principal on December 17, 2006. Any outstanding and unpaid principal and
      interest due under the Notes is convertible into shares of Common Stock at
      a
      conversion price of the lesser of (i) $2.25 per share, or (ii) fifty percent
      of
      the average of the closing bid prices of the Common Stock for the five trading
      days preceding but not including each conversion date, from and after the
      occurrence of an event of default (as described below) until the Notes are
      paid
      in full. The conversion price is subject to adjustments for stock splits, stock
      dividends, mergers, reorganizations and asset sales. In addition, if the Company
      issues or sells any shares of Common Stock for a price per share that is less
      than the applicable conversion price of the Notes, the conversion price of
      the
      Notes will be reduced to such price. The conversion price of the Notes will
      also
      be adjusted if the Company issues, sells or grants any stock or other securities
      convertible into or exchangeable for Common Stock in an issuance that is not
      specifically exempt by the terms of the Notes. The number of shares that may
      be
      acquired by a holder of the Notes upon conversion of the principal or interest
      due under the Notes is limited such that the total number of shares of Common
      Stock beneficially owned by such holder does not exceed 4.99% (or 9.99% upon
      written notice to the Company by such holder) of the total number of issued
      and
      outstanding shares of Common Stock.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon
      the
      occurrence of an event of default, the Notes will bear interest at the rate
      of
      15% per annum, and a holder thereof shall have the right to convert the
      principal and any interest due under a Note into shares of Common Stock at
      the
      conversion price, subject to adjustment as described in the immediately
      preceding paragraph.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
      event
      of default under the Notes occurs upon (i) the Company&#8217;s failure to pay any
      installment of principal, interest or other sum due under the Notes within
      ten
      days after the due date; (ii) the Company breaching any material covenant or
      other material term or condition of the Subscription Agreement or the Note
      after
      a 10 day cure period, (iii) any material representation or warranty of the
      Company becoming false or misleading in any material respect which results
      in a
      material adverse effect on the Company; (iv) the making of any assignment for
      the benefit of the Company&#8217;s creditors, the appointment of a receiver or trustee
      for the Company or for a substantial part of its property or business or the
      application for, or consent to, such an appointment by the Company; (v) the
      entering or filing of any money judgment, writ or similar final process against
      the Company or any of its property or other assets for more than $1,000,000,
      if
      such final process remains unvacated, unbonded or unstayed for a period of
      45
      days; (vi) the institution by or against the Company of any bankruptcy,
      insolvency, reorganization or other liquidation proceedings under any law,
      or
      the issuance of any notice in relation to such event for the relief of debtors
      and the failure of such proceeding to be dismissed within 45 days in the case
      of
      proceedings instituted against the Company; (vii) the delisting of the Common
      Stock from the principal trading exchange or market for the Common Stock, the
      failure of the Company to comply with the requirements for continued listing
      on
      such market for a period of 7 consecutive trading days or the Company&#8217;s receipt
      of notification from such market that it is not in compliance with the
      conditions for continued listing on such market; (viii) the Company&#8217;s default
      under any one or more obligations in an aggregate monetary amount in excess
      of
      $100,000 for more than 20 days after the due date unless the Company is
      contesting the validity of such obligation in good faith; (ix) the issuance
      by
      the Securities and Exchange Commission (the &#8220;SEC&#8221;) or a court of a stop trade
      order with respect to the Common Stock or the suspension of the Common Stock
      from trading on its principal trading or exchange market for 5 or more
      consecutive trading days; (x) the Company&#8217;s failure to timely deliver Common
      Stock or a replacement Note to a holder of Notes; (xi) the Company&#8217;s failure to
      timely effect, file or have declared effective the registration of the Common
      Stock in connection with an event of default; (xii) the Company&#8217;s failure to
      reserve sufficient Common Stock for issuance upon conversion of the principal
      and interest due under the Notes; and (xiii) the Company&#8217;s default of a material
      term, covenant, warranty or undertaking of any other agreement to which the
      Company and the Investors are parties, or the occurrence of a material event
      of
      default under any such other agreement which is not cured after any required
      notice and/or cure period is given.</font></div>
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      Warrants may be exercised for Common Stock on or before August 17, 2011. The
      Warrants are exercisable for shares of Common Stock at an exercise price of
      $2.25 per share, subject to adjustments for reorganization, consolidation,
      merger, asset sales, stock splits and stock dividends, or through a &#8220;cashless
      exercise&#8221; provision contained in the Warrants. In addition, if the Company
      issues or sells any shares of Common Stock for a price per share that is less
      than the applicable exercise price of the Warrants, the exercise price of the
      Warrants will be reduced to such lower price. The exercise price of the Warrants
      will also be adjusted if the Company issues, sells or grants any stock or other
      securities convertible into or exchangeable for Common Stock in an issuance
      that
      is not specifically exempt by the terms of the Warrants. Upon an event of
      default under the Notes, the exercise price of the Warrants will be reduced
      and
      the number of shares of Common Stock which may be purchased by a holder thereof
      will be increased.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Subscription Agreement provides that,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      for a
      period commencing 121 days after the occurrence of an event of default, but
      not
      later than 2 years after the closing of the Private Placement, upon a written
      request from any record holder or holders of more than 50% of the Common Stock
      issued and issuable upon conversion of any outstanding and unpaid principal
      and
      interest due under the Notes and outstanding Common Stock issued upon conversion
      of the Warrants, the Company is obligated to file a registration statement
      with
      the SEC registering </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">200%
      of
      the shares of Common Stock issuable upon the conversion of any of the
      outstanding and unpaid principal and interest due under the Notes and 133%
      of
      the shares of Common Stock issuable upon the exercise of the Warrants (such
      securities referred to as the registrable securities). This demand registration
      right may be exercised only once. In addition, if at any time the Company
      proposes to register any of its securities for sale to the public, the Company
      is obligated to include any of the registrable securities, not previously
      registered, in the securities to be covered by the Company&#8217;s registration
      statement. The Company must also file with the SEC a Form SB-2 registration
      statement within 45 calendar days after the occurrence of an event of default
      and cause the registration statement to be declared effective within 150
      calendar days after such event. Pursuant to the Subscription Agreement, subject
      to customary exceptions, if the Company proposes to register any of its
      securities, the Company, upon request by the holders of registrable securities,
      will cause such registrable securities to be included by the proposed
      registration statement.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      (A)
      the registration statement is not filed on or before 45 calendar days after
      an
      event of default (referred to as the filing date), (B) the registration
      statement is not declared effective on or before 150 calendar days after the
      occurrence of an event of default (referred to as the effective date), (C)
      the
      registration statement is not declared effective due to the action or inaction
      of the Company within three (3) business days after receipt by the Company
      or
      its attorneys of a communication from the SEC that the registration statement
      will not be reviewed or that the SEC has no further comments, (D) the
      registration statement in connection with a default registration or a public
      sale is not filed within 60 days, or is not declared effective within 120 days,
      in each case, after written request for registration of the registrable
      securities has been made, or (E) any registration statement is filed and
      declared effective but thereafter ceases to be effective without being succeeded
      within 15 business days by an effective replacement or an amended registration
      statement or for a period of time which exceeds 30 days in the aggregate per
      year, then the Company must deliver to any holder of registrable securities
      covered or intended to be covered by such registration statement an amount
      equal
      to two percent (2%) of the aggregate unconverted subscription amount paid by
      such holder for each 30 days or part thereof that such holder&#8217;s shares of Common
      Stock remain unregistered.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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      </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Subscription Agreement also provides for the mandatory redemption of the Notes
      at an Investor&#8217;s election upon certain circumstances. In particular, in the
      event (i) the Company is prohibited from issuing Common Stock upon conversion
      of
      any outstanding and unpaid principal and interest due under the Notes, (ii)
      the
      Company fails to timely deliver shares of Common Stock, or (iii) any other
      event
      of default, a change in control, or the liquidation, dissolution or winding
      up
      of the Company occurs and, in each case of (i) - (iii) above, such event
      continues for more than 20 days, then at the Investor&#8217;s election, the Company
      must pay to the Investors a sum of money determined by multiplying the
      outstanding principal amount of the Note designated by the Investor by 120%,
      together with accrued but unpaid interest thereon. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      addition, pursuant to a &#8220;buy-in&#8221; provision, if the Company fails to deliver to
      an Investor on the delivery date the shares of Common Stock issuable upon the
      conversion of outstanding and unpaid principal and interest due under a Note
      held by such Investor and, if after, 7 business days from the delivery date,
      the
      Investor purchases shares of Common Stock in connection with a sale by such
      Investor of the Common Stock which the Investor was entitled to receive upon
      conversion of the outstanding and unpaid principal and interest due under the
      Note, then the Company must pay the Investor in cash the amount by which (A)
      the
      Investor&#8217;s total purchase price for the shares of Common Stock so purchased
      exceeds (B) the aggregate principal and/or interest amount of the Note for
      which
      such conversion was not timely honored</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      together with interest thereon at a rate of 15% per annum, accruing until such
      amount and any accrued interest thereon is paid in full.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Subscription Agreement prohibits the Company from issuing, entering into an
      agreement to issue, or modifying any existing agreement with respect to the
      issuance of, equity, convertible debt or other securities convertible into
      Common Stock or equity of the Company without the prior written consent of
      the
      Investors except in the case of certain excepted issuances. The Subscription
      Agreement further provides that upon an event of default, the Company will
      not
      and will not permit its subsidiaries to (i) incur additional indebtedness unless
      otherwise permitted under the Subscription Agreement; (ii) amend its
      organizational documents in a manner that would adversely affect any rights
      of
      the Investors; (iii) repay, repurchase or offer to repay, repurchase or
      otherwise acquire or make any dividend or distribution in respect of any of
      its
      Common Stock, preferred stock or other equity securities other than to the
      extent permitted or required under the Subscription Agreement, the Notes, the
      Warrants or an escrow agreement; (iv) prepay any financing related or other
      outstanding debt obligations; or (v) engage in any transactions with any
      officer, director, employee or any affiliate of the Company in excess of $10,000
      other than (X) for payment of salary or consulting fees for services rendered,
      (Y) reimbursement for expenses incurred on behalf of the Company and (Z) for
      other employee benefits.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Subscription Agreement provides that if, at any time while the Notes or Warrants
      are outstanding, the Company shall offer, issue or agree to issue any Common
      Stock or securities convertible into or exercisable for shares of Common Stock,
      other than those specifically exempt by the terms of the Subscription Agreement,
      at a price per share less than the conversion or exercise price, then the
      Company must issue additional shares to each Investor so that the average per
      share purchase price of the shares of Common Stock issued to the Investors
      is
      equal to such other lower price per share and the conversion and exercise price
      shall be automatically adjusted as provided in the Notes and
      Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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      <div id="HDR">
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      foregoing brief summary of the Notes, Warrants and Subscription Agreement is
      not
      intended to be complete and is qualified in its entirety by reference to the
      forms of the agreements and documents, which are attached hereto as Exhibits
      4.1, 4.2 and 10.1. The Company expects to use a portion of the proceeds to
      repay
      recent advances made on behalf of the Company. The remainder of the proceeds
      will be used for payroll, taxes, interest payments, accounts payable, expenses
      and other working capital needs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      previously disclosed, the Company issued 5,000 shares to Greg Cantinelli, a
      director, for services.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
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      of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
      Arrangement of a Registrant.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See
      the
      disclosure above under Item 1.01 which is incorporated herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      August
      14, 2006, the Company entered into a subscription agreement for the sale of
      convertible notes in the aggregate principal amount of $990,000 and the issuance
      of common stock purchase warrants to purchase 385,714 shares of Common Stock.
      The Notes and Warrants were issued by the Company to the Investors on August
      17,
      2006. The terms of the Notes and Warrants are described above in Item 1.01
      which
      are incorporated herein. The Company granted registration rights for 200% of
      the
      shares of Common Stock issuable upon the conversion of any of the outstanding
      and unpaid principal and interest due under the Notes and 133% of the shares
      of
      Common Stock issuable upon the exercise of the Warrants. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company maintains that the issuance of these securities is exempt under the
      Securities Act of 1933, as amended, in reliance upon the provisions of Section
      4(2), Section 4(6) and/or Regulation D promulgated thereunder as a transaction
      by an issuer not involving a public offering. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
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                of Convertible Notes, dated August 17, 2006, issued by The Tube Media
                Corp.</font></div>
            </td>
          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                of Common Stock Purchase Warrants, dated August 17, 2006, issued
                by The
                Tube Media Corp.</font></div>
            </td>
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                Agreement, dated as of August 14, 2006, by and between The Tube Media
                Corp. and the investors listed on the signature pages
                thereto.</font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Signatures</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -108pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
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      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
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          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Dated:<font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt" size="3">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">August
              18, 2006</font></font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">THE
              TUBE MEDIA
              CORP.</font></td>
          </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits</strong></font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                of Convertible Notes, dated August 17, 2006, issued by The Tube Media
                Corp.</font></div>
            </td>
          </tr>
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                of Common Stock Purchase Warrants, dated August 17, 2006, issued
                by The
                Tube Media Corp.</font></div>
            </td>
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                Agreement, dated as of August 14, 2006, by and between The Tube Media
                Corp. and the investors listed on the signature pages
                thereto.</font></div>
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{"company-data": {"conformed-name": "Tube Media Corp.", "cik": "0001168932", "assigned-sic": "4841", "irs-number": "841557072", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52067", "film-number": "061043588"}, "business-address": {"street1": "11077 BISCAYNE BLVD", "street2": "SUITE 100", "city": "MIAMI", "state": "FL", "zip": "33161", "phone": "305-899-6100"}, "mail-address": {"street1": "11077 BISCAYNE BLVD", "street2": "SUITE 100", "city": "MIAMI", "state": "FL", "zip": "33161"}, "former-company": [{"former-conformed-name": "AGU Entertainment Corp.", "date-changed": "20040524"}, {"former-conformed-name": "LEXINGTON BARRON TECHNOLOGIES INC", "date-changed": "20020312"}]}
Unassociated Document
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      DC 20549
FORM
      8-K
CURRENT
      REPORT PURSUANT
TO
      SECTION 13 OR 15(D) OF THE
SECURITIES
      EXCHANGE ACT OF 1934
Date
      of
      report (Date of earliest event reported):
August 14, 2006
The
      Tube
      Media Corp.
(Exact
      Name of Registrant as Specified in Its Charter)
Delaware
(State
      or
      Other Jurisdiction of Incorporation)
005-79752
84-1557072
(Commission
                File Number)
(IRS
                Employer Identification No.)
1451
                West Cypress Creek Road, Fort Lauderdale, Florida
33309
(Address
                of Principal Executive Offices)
(Zip
                Code)
(954)
      714-8100
(
Registrant's
      Telephone Number, Including Area Code)
N/A
(Former
      Name or Former Address, if Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (
see
General
      Instruction A.2. below):
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Forward-Looking
      Statements
This
      document may include a number of "forward-looking statements" as that term is
      defined in Section 27A of the Securities Act of 1933, as amended, and Section
      21E of the Securities Exchange Act of 1934, as amended. These statements reflect
      management's current views with respect to future events and financial
      performance and include statements regarding management's intent, belief or
      current expectations, which are based upon assumptions about future conditions
      that may prove to be inaccurate. Prospective investors are cautioned that any
      such forward-looking statements are not guarantees of future performance,
      involve risk and uncertainties, and that as a result, actual results may differ
      materially from those contemplated by such forward-looking statements. Such
      risks include, among other things, the volatile and competitive markets in
      which
      we operate, our limited operating history, our limited financial resources,
      our
      ability to manage our growth and the lack of an established trading market
      for
      our securities. When considering forward-looking statements, readers are urged
      to carefully review and consider the various disclosures, including risk factors
      and their cautionary statements, made by us in this document and in our reports
      filed with the Securities and Exchange Commission.
Item
      1.01
Entry
      into a Material Definitive Agreement.
On
      August
      14, 2006, The Tube Media Corp. (the "Company") entered into a subscription
      agreement ("Subscription Agreement") with accredited investors ("Investors") to
      complete a private placement (the "Private Placement") of $990,000 in aggregate
      principal amount of securities. Pursuant to the terms of the Subscription
      Agreement, the Company sold convertible notes in the aggregate principal amount
      of $990,000 (the "Notes") and issued common stock purchase warrants to purchase
      an aggregate of 385,714 shares of the Company's common stock, par value $0.0001
      per share (the "Common Stock"), at an exercise price of $2.25 per share (the
"Warrants") to the Investors. The Company received cash proceeds from the
      issuance of the Notes of $900,000 of which $500,000 was deposited on August
      14,
      2006 and the remaining $400,000 was deposited on August 17, 2006. The Notes
      and
      Warrants were issued on August 17, 2006. Palladium Capital Advisors LLC acted
      as
      placement agent on this transaction.
Pursuant
      to the terms of the Notes, the Company is required to make a single payment
      of
      principal on December 17, 2006. Any outstanding and unpaid principal and
      interest due under the Notes is convertible into shares of Common Stock at
      a
      conversion price of the lesser of (i) $2.25 per share, or (ii) fifty percent
      of
      the average of the closing bid prices of the Common Stock for the five trading
      days preceding but not including each conversion date, from and after the
      occurrence of an event of default (as described below) until the Notes are
      paid
      in full. The conversion price is subject to adjustments for stock splits, stock
      dividends, mergers, reorganizations and asset sales. In addition, if the Company
      issues or sells any shares of Common Stock for a price per share that is less
      than the applicable conversion price of the Notes, the conversion price of
      the
      Notes will be reduced to such price. The conversion price of the Notes will
      also
      be adjusted if the Company issues, sells or grants any stock or other securities
      convertible into or exchangeable for Common Stock in an issuance that is not
      specifically exempt by the terms of the Notes. The number of shares that may
      be
      acquired by a holder of the Notes upon conversion of the principal or interest
      due under the Notes is limited such that the total number of shares of Common
      Stock beneficially owned by such holder does not exceed 4.99% (or 9.99% upon
      written notice to the Company by such holder) of the total number of issued
      and
      outstanding shares of Common Stock.
Upon
      the
      occurrence of an event of default, the Notes will bear interest at the rate
      of
      15% per annum, and a holder thereof shall have the right to convert the
      principal and any interest due under a Note into shares of Common Stock at
      the
      conversion price, subject to adjustment as described in the immediately
      preceding paragraph.
An
      event
      of default under the Notes occurs upon (i) the Company's failure to pay any
      installment of principal, interest or other sum due under the Notes within
      ten
      days after the due date; (ii) the Company breaching any material covenant or
      other material term or condition of the Subscription Agreement or the Note
      after
      a 10 day cure period, (iii) any material representation or warranty of the
      Company becoming false or misleading in any material respect which results
      in a
      material adverse effect on the Company; (iv) the making of any assignment for
      the benefit of the Company's creditors, the appointment of a receiver or trustee
      for the Company or for a substantial part of its property or business or the
      application for, or consent to, such an appointment by the Company; (v) the
      entering or filing of any money judgment, writ or similar final process against
      the Company or any of its property or other assets for more than $1,000,000,
      if
      such final process remains unvacated, unbonded or unstayed for a period of
      45
      days; (vi) the institution by or against the Company of any bankruptcy,
      insolvency, reorganization or other liquidation proceedings under any law,
      or
      the issuance of any notice in relation to such event for the relief of debtors
      and the failure of such proceeding to be dismissed within 45 days in the case
      of
      proceedings instituted against the Company; (vii) the delisting of the Common
      Stock from the principal trading exchange or market for the Common Stock, the
      failure of the Company to comply with the requirements for continued listing
      on
      such market for a period of 7 consecutive trading days or the Company's receipt
      of notification from such market that it is not in compliance with the
      conditions for continued listing on such market; (viii) the Company's default
      under any one or more obligations in an aggregate monetary amount in excess
      of
      $100,000 for more than 20 days after the due date unless the Company is
      contesting the validity of such obligation in good faith; (ix) the issuance
      by
      the Securities and Exchange Commission (the "SEC") or a court of a stop trade
      order with respect to the Common Stock or the suspension of the Common Stock
      from trading on its principal trading or exchange market for 5 or more
      consecutive trading days; (x) the Company's failure to timely deliver Common
      Stock or a replacement Note to a holder of Notes; (xi) the Company's failure to
      timely effect, file or have declared effective the registration of the Common
      Stock in connection with an event of default; (xii) the Company's failure to
      reserve sufficient Common Stock for issuance upon conversion of the principal
      and interest due under the Notes; and (xiii) the Company's default of a material
      term, covenant, warranty or undertaking of any other agreement to which the
      Company and the Investors are parties, or the occurrence of a material event
      of
      default under any such other agreement which is not cured after any required
      notice and/or cure period is given.
The
      Warrants may be exercised for Common Stock on or before August 17, 2011. The
      Warrants are exercisable for shares of Common Stock at an exercise price of
      $2.25 per share, subject to adjustments for reorganization, consolidation,
      merger, asset sales, stock splits and stock dividends, or through a "cashless
      exercise" provision contained in the Warrants. In addition, if the Company
      issues or sells any shares of Common Stock for a price per share that is less
      than the applicable exercise price of the Warrants, the exercise price of the
      Warrants will be reduced to such lower price. The exercise price of the Warrants
      will also be adjusted if the Company issues, sells or grants any stock or other
      securities convertible into or exchangeable for Common Stock in an issuance
      that
      is not specifically exempt by the terms of the Warrants. Upon an event of
      default under the Notes, the exercise price of the Warrants will be reduced
      and
      the number of shares of Common Stock which may be purchased by a holder thereof
      will be increased.
2
The
      Subscription Agreement provides that,
for a
      period commencing 121 days after the occurrence of an event of default, but
      not
      later than 2 years after the closing of the Private Placement, upon a written
      request from any record holder or holders of more than 50% of the Common Stock
      issued and issuable upon conversion of any outstanding and unpaid principal
      and
      interest due under the Notes and outstanding Common Stock issued upon conversion
      of the Warrants, the Company is obligated to file a registration statement
      with
      the SEC registering
200%
      of
      the shares of Common Stock issuable upon the conversion of any of the
      outstanding and unpaid principal and interest due under the Notes and 133%
      of
      the shares of Common Stock issuable upon the exercise of the Warrants (such
      securities referred to as the registrable securities). This demand registration
      right may be exercised only once. In addition, if at any time the Company
      proposes to register any of its securities for sale to the public, the Company
      is obligated to include any of the registrable securities, not previously
      registered, in the securities to be covered by the Company's registration
      statement. The Company must also file with the SEC a Form SB-2 registration
      statement within 45 calendar days after the occurrence of an event of default
      and cause the registration statement to be declared effective within 150
      calendar days after such event. Pursuant to the Subscription Agreement, subject
      to customary exceptions, if the Company proposes to register any of its
      securities, the Company, upon request by the holders of registrable securities,
      will cause such registrable securities to be included by the proposed
      registration statement.
If
      (A)
      the registration statement is not filed on or before 45 calendar days after
      an
      event of default (referred to as the filing date), (B) the registration
      statement is not declared effective on or before 150 calendar days after the
      occurrence of an event of default (referred to as the effective date), (C)
      the
      registration statement is not declared effective due to the action or inaction
      of the Company within three (3) business days after receipt by the Company
      or
      its attorneys of a communication from the SEC that the registration statement
      will not be reviewed or that the SEC has no further comments, (D) the
      registration statement in connection with a default registration or a public
      sale is not filed within 60 days, or is not declared effective within 120 days,
      in each case, after written request for registration of the registrable
      securities has been made, or (E) any registration statement is filed and
      declared effective but thereafter ceases to be effective without being succeeded
      within 15 business days by an effective replacement or an amended registration
      statement or for a period of time which exceeds 30 days in the aggregate per
      year, then the Company must deliver to any holder of registrable securities
      covered or intended to be covered by such registration statement an amount
      equal
      to two percent (2%) of the aggregate unconverted subscription amount paid by
      such holder for each 30 days or part thereof that such holder's shares of Common
      Stock remain unregistered.
3
The
      Subscription Agreement also provides for the mandatory redemption of the Notes
      at an Investor's election upon certain circumstances. In particular, in the
      event (i) the Company is prohibited from issuing Common Stock upon conversion
      of
      any outstanding and unpaid principal and interest due under the Notes, (ii)
      the
      Company fails to timely deliver shares of Common Stock, or (iii) any other
      event
      of default, a change in control, or the liquidation, dissolution or winding
      up
      of the Company occurs and, in each case of (i) - (iii) above, such event
      continues for more than 20 days, then at the Investor's election, the Company
      must pay to the Investors a sum of money determined by multiplying the
      outstanding principal amount of the Note designated by the Investor by 120%,
      together with accrued but unpaid interest thereon.
In
      addition, pursuant to a "buy-in" provision, if the Company fails to deliver to
      an Investor on the delivery date the shares of Common Stock issuable upon the
      conversion of outstanding and unpaid principal and interest due under a Note
      held by such Investor and, if after, 7 business days from the delivery date,
      the
      Investor purchases shares of Common Stock in connection with a sale by such
      Investor of the Common Stock which the Investor was entitled to receive upon
      conversion of the outstanding and unpaid principal and interest due under the
      Note, then the Company must pay the Investor in cash the amount by which (A)
      the
      Investor's total purchase price for the shares of Common Stock so purchased
      exceeds (B) the aggregate principal and/or interest amount of the Note for
      which
      such conversion was not timely honored
,
      together with interest thereon at a rate of 15% per annum, accruing until such
      amount and any accrued interest thereon is paid in full.
The
      Subscription Agreement prohibits the Company from issuing, entering into an
      agreement to issue, or modifying any existing agreement with respect to the
      issuance of, equity, convertible debt or other securities convertible into
      Common Stock or equity of the Company without the prior written consent of
      the
      Investors except in the case of certain excepted issuances. The Subscription
      Agreement further provides that upon an event of default, the Company will
      not
      and will not permit its subsidiaries to (i) incur additional indebtedness unless
      otherwise permitted under the Subscription Agreement; (ii) amend its
      organizational documents in a manner that would adversely affect any rights
      of
      the Investors; (iii) repay, repurchase or offer to repay, repurchase or
      otherwise acquire or make any dividend or distribution in respect of any of
      its
      Common Stock, preferred stock or other equity securities other than to the
      extent permitted or required under the Subscription Agreement, the Notes, the
      Warrants or an escrow agreement; (iv) prepay any financing related or other
      outstanding debt obligations; or (v) engage in any transactions with any
      officer, director, employee or any affiliate of the Company in excess of $10,000
      other than (X) for payment of salary or consulting fees for services rendered,
      (Y) reimbursement for expenses incurred on behalf of the Company and (Z) for
      other employee benefits.
The
      Subscription Agreement provides that if, at any time while the Notes or Warrants
      are outstanding, the Company shall offer, issue or agree to issue any Common
      Stock or securities convertible into or exercisable for shares of Common Stock,
      other than those specifically exempt by the terms of the Subscription Agreement,
      at a price per share less than the conversion or exercise price, then the
      Company must issue additional shares to each Investor so that the average per
      share purchase price of the shares of Common Stock issued to the Investors
      is
      equal to such other lower price per share and the conversion and exercise price
      shall be automatically adjusted as provided in the Notes and
      Warrants.
4
The
      foregoing brief summary of the Notes, Warrants and Subscription Agreement is
      not
      intended to be complete and is qualified in its entirety by reference to the
      forms of the agreements and documents, which are attached hereto as Exhibits
      4.1, 4.2 and 10.1. The Company expects to use a portion of the proceeds to
      repay
      recent advances made on behalf of the Company. The remainder of the proceeds
      will be used for payroll, taxes, interest payments, accounts payable, expenses
      and other working capital needs.
As
      previously disclosed, the Company issued 5,000 shares to Greg Cantinelli, a
      director, for services.
Item
      2.03
Creation
      of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
      Arrangement of a Registrant.
See
      the
      disclosure above under Item 1.01 which is incorporated herein.
Item
      3.02
Unregistered
      Sales of Equity Securities.
On
      August
      14, 2006, the Company entered into a subscription agreement for the sale of
      convertible notes in the aggregate principal amount of $990,000 and the issuance
      of common stock purchase warrants to purchase 385,714 shares of Common Stock.
      The Notes and Warrants were issued by the Company to the Investors on August
      17,
      2006. The terms of the Notes and Warrants are described above in Item 1.01
      which
      are incorporated herein. The Company granted registration rights for 200% of
      the
      shares of Common Stock issuable upon the conversion of any of the outstanding
      and unpaid principal and interest due under the Notes and 133% of the shares
      of
      Common Stock issuable upon the exercise of the Warrants.
The
      Company maintains that the issuance of these securities is exempt under the
      Securities Act of 1933, as amended, in reliance upon the provisions of Section
      4(2), Section 4(6) and/or Regulation D promulgated thereunder as a transaction
      by an issuer not involving a public offering.
Item
      9.01
Financial
      Statements and Exhibits.
(c)
Exhibits.
4.1
Form
                of Convertible Notes, dated August 17, 2006, issued by The Tube Media
                Corp.
4.2
Form
                of Common Stock Purchase Warrants, dated August 17, 2006, issued
                by The
                Tube Media Corp.
10.1
Subscription
                Agreement, dated as of August 14, 2006, by and between The Tube Media
                Corp. and the investors listed on the signature pages
                thereto.
5
Signatures
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
Dated:
August
              18, 2006
THE
              TUBE MEDIA
              CORP.
By:
/s/ Celestine
              F. Spoden
Name:
              Celestine F. Spoden
Title:
              Chief Financial Officer
6
Exhibits
4.1
Form
                of Convertible Notes, dated August 17, 2006, issued by The Tube Media
                Corp.
4.2
Form
                of Common Stock Purchase Warrants, dated August 17, 2006, issued
                by The
                Tube Media Corp.
10.1
Subscription
                Agreement, dated as of August 14, 2006, by and between The Tube Media
                Corp. and the investors listed on the signature pages
                thereto.
7