UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): January 24, 2007

CHINA DIGITAL MEDIA CORPORATION

(Exact Name of Registrant as Specified in Charter)

Nevada

(State or Other Jurisdiction of Incorporation)

000-30212

(Commission File Number)

13-3422912

(I.R.S. Employer Identification No.)

2505-06, 25/F, Stelux House, 698 Prince Edward Road East,

Kowloon, Hong Kong

(Address of Principal Executive Offices) (Zip Code)

(011) 852-2390-8600

(Registrant's Telephone Number, Including Area Code)

This Current Report on Form 8-K is filed by China Digital Media Corporation f/k/a Hairmax International, Inc., a Nevada corporation (the “Registrant”), in connection with the item set forth below.

ITEM 2.01 - Completion of Acquisition or Disposition of Assets

On June 15, 2005, the Registrant entered into a Strategic Alliance Agreement (the “Agreement”) with Guangdong Pukonyi Culture Development Limited, a limited liability company organized and existing under the laws of the Peoples’ Republic of China (“Pukonyi”) and Pukonyi has changed its name to Guangdong Huaguang Culture Development Limited, and Messrs. Chen and Chow, residents of the Peoples’ Republic of China and the sole shareholders of Pukonyi. The Registrant reported that Pukonyi is a company that is engaged in the businesses of creating television programming for sale and selling commercial advertising for customers located throughout mainland China. It had registered capital of approximately US$61,000.

The Agreement provided that the Registrant acted as an exclusive service provider to Pukonyi, and also had a significant influence in Pukonyi’s business development and operations. For example, the Registrant had the right to appoint a majority of Pukonyi’s Board of Directors and received approximately 90% of Pukonyi’s gross profits under its services contract. In return, the Registrant issued approximately US$183,000 worth of its restricted common stock to the sole shareholders of Pukonyi.

On January 24, 2007, the Registrant has exercised its option to request the sole shareholders to transfer all of their equity interest in Pukonyi to the Registrant for approximately US$10, subject to the approval of all related laws of the Peoples’ Republic of China.

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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.

	CHINA DIGITAL MEDIA CORPORATION
Date: January 24, 2007	By:	/s/ Ng Chi Shing
		Ng Chi Shing President

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