UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2012

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to ______________

Commission File Number 000-54210

CONVENIENCE TV INC.
(Exact name of registrant as specified in its charter)

Nevada	30-0518293
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

248 Main Street, Venice, CA	90291
(Address of principal executive offices)	(Zip Code)

(877) 331-8777
(Registrant’s telephone number, including area code)

N/A
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
[X] YES [ ] NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
[X] YES [ ] NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (Do not check if a smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act [ ] YES [X] NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.
[ ] YES [ ] NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
427,210,047 common shares issued and outstanding as of November 19, 2012.

CONVENIENCE TV INC.

FORM 10-Q

September 30, 2012

INDEX

PART I – FINANCIAL INFORMATION			3
	Item 1.	Financial Statements	3
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	4
	Item 3.	Quantitative and Qualitative Disclosure about Market Risk	8
	Item 4.	Controls and Procedures	8
PART II – OTHER INFORMATION			8
	Item 1.	Legal Proceedings	8
	Item 1A.	Risk Factors	8
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	8
	Item 3.	Defaults Upon Senior Securities	9
	Item 4.	Mining Safety Disclosures	9
	Item 5.	Other Information	9
	Item 6.	Exhibits	9
SIGNATURES			11

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Our unaudited consolidated interim financial statements for the three and six month periods ended September 30, 2012 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States generally accepted accounting principles.

CONVENIENCE TV INC.
(A Development Stage Company)
September 30, 2012
(Expressed in US dollars)
(unaudited)

	Index
Consolidated Balance Sheets	F–1
Consolidated Statements of Operations	F–2
Consolidated Statements of Cash Flows	F–3
Notes to the Consolidated Financial Statements	F–4

CONVENIENCE TV INC.
(A Development Stage Company)
Consolidated Balance Sheets
(Expressed in US Dollars)

	September 30,		March 31,
	2012		2012
	$		$
	(unaudited)

ASSETS
Current Assets
Cash	313		391
Due from related party (Note 6)	19,161		19,161
Total Current Assets	19,474		19,552
Property and equipment (Note 3)	–		305
Deferred financing costs (Note 4(f))	1,259		1,236
Total Assets	20,733		21,093

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable	36,359		38,718
Accrued liabilities	11,156		7,382
Convertible debt, less unamortized discount of $31,946 (March 31, 2012 - $40,691) (Note 4)	82,554		71,809
Derivative liabilities (Note 5)	207,906		250,558
Due to related parties (Note 6)	1,579		2,500
Total Liabilities	339,554		370,967

Going Concern (Note 1)
Commitment (Note 9)
Subsequent Event (Note 10)

Stockholders’ Deficit
Preferred Stock
Authorized: 100,000,000 preferred shares, $0.00001 par value Issued and outstanding: no shares	–		–
Common Stock
Authorized: 600,000,000 common shares, $0.00001 par value Issued and outstanding: 328,043,268 shares (March 31, 2012 – 121,064,350)	3,280		1,211
Additional paid-in capital	1,259,272		1,079,120
Deficit accumulated during the development stage	(1,581,373	)	(1,430,205	)
Total Stockholders' Deficit	(318,821	)	(349,874	)
Total Liabilities and Stockholders' Deficit	20,733		21,093

(The accompanying notes are an integral part of these consolidated financial statements)

F-1

CONVENIENCE TV INC.
(A Development Stage Company)
Consolidated Statements of Operations
(Expressed in US Dollars)
(unaudited)

									Accumulated
									from March 31,
	Three Months		Three Months		Six Months		Six Months		2008 (date of
	Ended		Ended		Ended		Ended		inception) to
	September 30,		September 30,		September 30,		September 30,		September 30,
	2012		2011		2012		2011		2012
	$		$		$		$		$
Revenue	–		–		–		6,628		20,954
Operating Expenses
Amortization of property and equipment	–		10,693		305		22,296		155,816
Consulting fees	–		6,000		6,000		6,000		41,298
Content services	–		–		–		–		6,470
Foreign exchange loss (gain)	345		(75	)	282		(75	)	17,844
Investor relations	–		–		135		–		112,975
Management fees (Note 6)	–		9,000		454		30,000		277,259
Network management	–		15,868		918		30,038		183,660
Office and general	313		1,004		1,345		2,636		19,270
Professional fees	11,386		12,263		28,634		30,409		125,328
Transfer agent and filing fees	7,112		7,074		8,514		9,994		34,369
Travel and promotion	157		10		238		180		24,569
Total Operating Expenses	19,313		61,837		46,825		131,478		998,858
Loss from Operations	(19,313	)	(61,837	)	(46,825	)	(124,850	)	(977,904	)
Other Expenses
Accretion of discounts on convertible debt	(4,337	)	(54,176	)	(41,245	)	(83,626	)	(170,682	)
Amortization of deferred financing costs	(1,060	)	(2,133	)	(2,977	)	(3,901	)	(12,241	)
Interest expense	(3,013	)	(2,188	)	(7,952	)	(4,080	)	(17,877	)
Loss on change in fair value of derivative liabilities	(86,412	)	(493,202	)	(52,169	)	(528,254	)	(367,798	)
Loss on extinguishment of debt	–		–		–		–		(34,871	)
Total Other Expenses	(94,822	)	(551,699	)	(104,343	)	(619,861	)	(603,469	)
Net Loss for the Period	(114,135	)	(613,536	)	(151,168	)	(744,711	)	(1,581,373	)
Net Loss Per Share, Basic and Diluted	–		(0.01	)	–		(0.01	)
Weighted Average Shares Outstanding	271,075,000		60,885,000		333,092,000		58,675,000

(The accompanying notes are an integral part of these consolidated financial statements)

F-2

CONVENIENCE TV INC.
(A Development Stage Company)
Consolidated Statements of Cash Flows
(Expressed in US Dollars)
(unaudited)

					Accumulated from
	Six Months		Six Months		March 31, 2008
	Ended		Ended		(date of inception) to
	September 30,		September 30,		September 30,
	2012		2011		2012
	$		$		$
Operating Activities
Net loss	(151,168	)	(744,711	)	(1,581,373	)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discounts on convertible debt	41,245		83,626		170,682
Amortization of property and equipment	305		22,296		155,816
Amortization of deferred financing costs	2,977		3,901		12,241
Loss on change in fair value of derivative liabilities	52,169		528,254		367,798
Loss on extinguishment of debt	–		–		34,871
Stock-based compensation	–		–		99,598
Changes in operating assets and liabilities:
Due from/to related parties	(921	)	–		(17,582	)
Accounts payable	(2,359	)	20,693		33,405
Accrued liabilities	7,174		4,080		16,756
Net Cash Used In Operating Activities	(50,578	)	(81,861	)	(707,788	)
Investing Activities
Acquisition of property and equipment	–		–		(155,816	)
Net cash acquired on acquisition of subsidiary	–		–		6,755
Net Cash Used In Investing Activities	–		–		(149,061	)
Financing Activities
Advances from related party	–		–		348,482
Proceeds from issuance of convertible debt	53,500		35,000		221,000
Deferred financing costs	(3,000	)	–		(13,500	)
Proceeds from issuance of common stock	–		–		278,701
Net Cash Provided By Financing Activities	50,500		35,000		834,683
Effect of Exchange Rate Changes on Cash	–		–		22,479
Change in Cash	(78	)	(46,861	)	313
Cash, Beginning of Period	391		51,518		–
Cash, End of Period	313		4,657		313
Non-cash Investing and Financing Activities:
Share issued upon conversion of debt	54,900		–		109,900
Fair value of beneficial conversion options upon conversion of debt recorded as additional paid-in capital	159,821		–		354,468
Fair value of beneficial conversion options of convertible debt	32,500		–		100,125
Supplemental Disclosures:
Interest paid	–		–		–
Income taxes paid	–		–		–

(The accompanying notes are an integral part of these consolidated financial statements)

F-3

Convenience TV Inc. 10-Q