2H      5 Arial5! Arial5" Arial5# Arial5$ Arial5% Arial Unicode MS5&  Arial5' Arial5( Arial !!""            !!!"!#!$!%%&%' (&)&*'+','-'.(/' 0' 1( 2(  @ @  @ @  @ @  @ @  @ @  @ @  @@ @ @@ @ @ @ @ @  @@ @  @@ @  @ @  @@ @  @ @  @@ @  @@ @  @@ @  @@ @  @@ @  @@ @ @  " @  # @  $ @  % @ & @@  @ ' @  ( @  * @@  , @  . @@  / @@  0 @@  2 @@  4 @  6 @@  7 @@  9 @@  ; @ = @@  @ ? @ A @@   C @  E @  F @  G @  H @  I @  K @@  L @@  M @@  N @@  O @@  P @@  Q @@  R @@  S @@  T @@  U @@  V @@  W @@  X @@  Y @@  Z @@  [ @@  \ @@  ^ @  ` @  a @  b @  c @ e @@  @ f @  g @  i @  j @  l @@  m @  n @  p @@  q @@  r @@  s @@  u @@  w @  y @@  z @  { @  } @@  ~ @@   @@  @@  @@  @@  @@ @  @@ @  @@ @  @@ @  @@ @  @@ @  @@ @ q@' q@' q@'q0*'GLOBAL ACQUISITIONS, INC.'BALANCE SHEET'December 31, 2001 'ASSETS'CURRENT ASSETS 'Cash"$ 3,493 'Total Current Assets "$ 3,493* 'LIABILITIES AND STOCKHOLDERS' EQUITY 'CURRENT LIABILITIES'Accounts payable "3,218'Total Current Liabilities "3,218'STOCKHOLDERS' EQUITYa'Preferred stock 10,000,000 shares authorized at $0.10 par value; non issued and outstanding"-f'Common stock 100,000,000 shares authorized at $.001 par value; 78,580,060 issued and outstanding "78,580$'Capital in excess of par value"5,739,725+'Stock subscriptions received - Note 5 "75,000"'Accumulated deficit - Note 1"(5,893,030)$'Total Stockholders' Deficiency "275 "3493P 'The accompanying notes are an integral part of these financial statements."'GLOBAL ACQUISITIONS, INC.#'STATEMENTS OF OPERATIONSC$'For the Years Ended December 31, 2001 and 2000 and the PeriodS%'January 1, 1996 (date of inception of development stage) to December 31, 2001 &^Period '^Dec 31,'^Dec 31, '^Jan 1, 1996 (^2001(^2000 (^ to Dec 31, 2001*'REVENUES*"$ -*"$ -*"$ -,'EXPENSES.'Research and development ."97,500."- ."97,500/'Administrative /"19,261 /"115,130 /"134,3910'Interest expense0"- 0"26,123 0"340,15902'NET LOSS - before other income and expense2"(116,761)2"(141,253)2"(572,050)4'OTHER INCOME AND EXPENSE6'Loss of assets6"-6"-6"(4,608,767)7'Settlement of debt7"-7"1,615,0827"1,615,0829'NET PROFIT (LOSS)9"$ (116,761)9"$ 1,473,8299"$(3,565,735)(;'NET PROFIT (LOSS) PER COMMON SHARE ='Basic ="$ - ="$ .02 ?'AVERAGE OUTSTANDING SHARESA'Basic (stated in 1,000's) A"77,005 A"77,330PC'The accompanying notes are an integral part of these financial statements.E'GLOBAL ACQUISITIONS, INC.3F'STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITYZG'Period January 1, 1996 (date of inception of development stage) to December 31, 2001H^Preferred StockH^Preferred StockH^Common StockH^Common StockH^Excess ofH^Accumulated I^Shares I^Amount I^Shares I^AmountI^Par Value I^DeficitK'Balance January 1, 1996 K"331,950K"$ 33,195K"4,050,840 K"$4,051K"$5,419,020K"$(2,319,595)8L'Issuance of common stock for services at $.07-1996L"-L"- L"298,980 L"299 L"20,634L"-=M'Net operating loss for the year ended December 31, 1996M"-M"-M"-M"-M"-M"(4,748,837)=N'Net operating loss for the year ended December 31, 1997N"-N"-N"-N"-N"-N"(111,272)=O'Net operating loss for the year ended December 31, 1998O"-O"-O"-O"-O"-O"(31,347)=P'Net operating loss for the year ended December 31, 1999P"-P"-P"-P"-P"-P"(31,347)5Q'Issuance of common stock for services at $.0032Q"-Q"-Q"9,900,000 Q"9,900 Q"21,570Q"-5R'Issuance of common stock for expenses at $.0035R"-R"-R"6,787,300 R"6,787 R"16,943R"-?S'Issuance of common stock for settlement of debt at $.0018S"-S"-S"94,815,920 S"94,816 S"79,674S"-@T'Issuance of common stock for retirement of preferred stockT"(331,950)T"(33,195) T"777,020 T"777 T"32,418T"-)U'Contributions to capital - expensesU"-U"-U"-U"- U"15,000U"-?V'Net operating profit for the year ended December 31, 2000V"-V"-V"-V"-V"-V"1,473,829W'Balance December 31, 2000W"- W"$ -W"116,630,060W"$116,630W"$5,605,259W"$(5,768,569)-X'Return and cancellation of common stockX"-X"-X"(40,000,000)X"(40,000) X"40,000X"-;Y'Issuance of common stock for payment of debt at $.032Y"-Y"-Y"1,750,000 Y"1,750 Y"46,966Y"-/Z'Issuance of common stock for cash at $.20Z"-Z"- Z"200,000 Z"200 Z"39,800Z"-=['Net operating loss for the year ended December 31, 2001["-["-["-["-["-["(116,761)\'Balance December 31, 2001\"-\"-\"78,580,060\"$ 78,580\"$5,732,025\"$(5,885,330)P^'The accompanying notes are an integral part of these financial statements. `'GLOBAL ACQUISITIONS, INC.a'STATEMENTS OF CASH FLOWSDb'For the Years Ended December 31, 2001 and 2000 and the periodSc'January 1, 1996 (date of inception of development stage) to December 31, 2001 e^Period f^Dec 31, f^Dec 31,f^Jan 1, 1996 g^2001 g^2000g^to Dec 31, 2001i'CASH FLOWS FROMj'OPERATING ACTIVITIESl'Net profit (loss)l"$ (116,761)l"$ 1,473,829l"(3,565,735)Tn'Adjustments to reconcile net loss to net cash provided by operating activities p'Change in accounts payablep"(43,462) p"71,053 p"320,694Tq'Issuance of common stock for expenses and contribution to capital for expensesq"- q"70,200 q"91,133r'Loss of assetsr"-r"-r"4,608,767 s'Gain on settlement of debts"-s"(1,615,082s") (1,615,082)(u'Net Cash From (Used) in Operationsu"(160,223)u"-u"(160,223)*w'CASH FLOWS FROM INVESTING ACTIVITIES8y'Payment of debt by issuance of Stock-related party y"48,716y"- y"48,716*{'CASH FLOWS FROM FINANCING ACTIVITIES"}'Stock subscriptions received }"75,000}"- }"75,000 ~'Proceeds from stock issued ~"40,000~"- ~"40,000 "115,000"- "115,000%'Net Increase (Decrease) in Cash "3,493"- "3,493!'Cash at Beginning of Period"-"-"-'Cash at End of Period"$ 3,493 "$ -"$ 3,493.'NON CASH FLOWS FROM OPERATING ACTIVITIESB'Issuance of 298,980 shares common stock for services - 1996"$ 20,933R'Issuance of 16,687,300 shares common stock for services and expenses - 2000 "55,200N'Issuance of 94,815,920 shares common stock for settlement of debt- -2000 "174,490('Contribution to capital - expenses "15,000J'Issuance of 1,750,000 shares common stock for payment of debt - 2001" 48,716P'The accompanying notes are an integral part of these financial statements. 6Sheet1 6Sheet2 6Sheet3d_ ArialArial    O4!*d"""dFM3FM3 PropertyWK3WK3 Property  . -. .-. .CMHdr.