GLOBAL ACQUISITIONS CORP. Files Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>GLOBAL ACQUISITIONS CORPORATION filed its 2023 annual report on Form 10-K, detailing its corporate information and history.</b>

AI Summary

GLOBAL ACQUISITIONS Corp (AASP) filed a Annual Report (10-K) with the SEC on March 29, 2024. GLOBAL ACQUISITIONS CORPORATION filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as ALL AMERICAN SPORTPARK INC and SAINT ANDREWS GOLF CORP. GLOBAL ACQUISITIONS CORPORATION is incorporated in Nevada and has an IRS Employer Identification No. of 88-0203976. The principal executive offices are located at 6730 South Las Vegas Boulevard, Las Vegas, NV 89119. The company's telephone number is (702) 317-7302.

Why It Matters

For investors and stakeholders tracking GLOBAL ACQUISITIONS Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of GLOBAL ACQUISITIONS CORPORATION's financial performance and operational status for the fiscal year 2023. Understanding the company's former names and incorporation details is crucial for historical context and potential due diligence.

Risk Assessment

Risk Level: low — GLOBAL ACQUISITIONS Corp shows low risk based on this filing. The filing is a standard 10-K report with no immediate red flags, but detailed financial analysis is required to assess the company's true health.

Analyst Insight

Review the full 10-K filing to analyze the financial statements and management discussion for a deeper understanding of GLOBAL ACQUISITIONS CORPORATION's performance and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end date)
• 000-24970 — Commission File Number (SEC Commission file number)
• 88-0203976 — IRS Number (IRS Employer Identification No.)
• 1999-01-21 — Date of Name Change (Date of name change from ALL AMERICAN SPORTPARK INC)
• 1994-09-16 — Date of Name Change (Date of name change from SAINT ANDREWS GOLF CORP)

Key Players & Entities

• GLOBAL ACQUISITIONS CORPORATION (company) — Registrant name
• ALL AMERICAN SPORTPARK INC (company) — Former company name
• SAINT ANDREWS GOLF CORP (company) — Former company name
• Nevada (jurisdiction) — State of incorporation
• 88-0203976 (identifier) — IRS Employer Identification No.
• 6730 South Las Vegas Boulevard, Las Vegas, NV 89119 (address) — Principal executive offices
• (702) 317-7302 (phone) — Registrant's telephone number
• 2023-12-31 (date) — Fiscal year end

FAQ

Industry Context

The company operates in the retail sector, specifically miscellaneous retail.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring annual reports from public companies.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and disclosures.
2. Investigate the company's business operations and any segment information provided.
3. Analyze management's discussion and analysis (MD&A) for insights into performance drivers and risks.

Key Dates

• 2024-03-29: Filing Date — Annual report (10-K) for fiscal year ended December 31, 2023
• 2023-12-31: Fiscal Year End — Period covered by the annual report

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ended December 31, 2023, following the company's reporting requirements.

Key Financial Figures

• $0.20 — the OTC Markets Group Inc. Pink Tier of $0.20 per share. The number of shares of Com
• $0.001 — The number of shares of Common Stock, $0.001 par value, outstanding on March 29, 202
• $3,684,000 — this public offering were approximately $3,684,000. The Class A Warrants expired unexercis
• $600,000 — s") in exchange for the cancellation of $600,000 of debt owed by the Company to Saint An
• $8,864,255 — d the interest accrued thereon totaling $8,864,255. 1 In connection with the closing of
• $340,000 — ay Ronald Boreta for deferred salary of $340,000. In addition, AAGC cancelled $4,267,802
• $4,267,802 — f $340,000. In addition, AAGC cancelled $4,267,802 in advances previously made by it to th
• $1,286,702 — ies controlled by the Boretas cancelled $1,286,702 owed to them by the Company. The Compan
• $27,615 — m by the Company. The Company cancelled $27,615 owed to the Company by entities control

Filing Documents

• ixform10k.htm (10-K) — 351KB
• exhibit31.htm (EX-31) — 10KB
• exhibit32.htm (EX-32) — 3KB
• 0001472375-24-000016.txt (&nbsp;) — 1742KB
• global930245-20231231.xsd (EX-101.SCH) — 15KB
• global930245-20231231_cal.xml (EX-101.CAL) — 23KB
• global930245-20231231_def.xml (EX-101.DEF) — 26KB
• global930245-20231231_lab.xml (EX-101.LAB) — 121KB
• global930245-20231231_pre.xml (EX-101.PRE) — 98KB
• ixform10k_htm.xml (XML) — 136KB

BUSINESS

BUSINESS 1 ITEM 1A.

RISK FACTORS

RISK FACTORS 4 ITEM 1B. UNRESOLVED STAFF COMMENTS 4 ITEM 1C. CYBER SECURITY 4 ITEM 2.

PROPERTIES

PROPERTIES 5 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 6 ITEM 4. MINE SAFETY DISCLOSURES 6 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 6 ITEM 6. [RESERVED] 7 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 7 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 11 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 11 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 11 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 12 ITEM 9B. OTHER INFORMATION 13 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 13 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 14 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 16 iii ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 18 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 19 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 20 PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 21 ITEM 16. FORM 10–K SUMMARY. 23 Report of Independent Registered Public Accounting Firm (PCAOB ID: 587 ) F-1 Balance Sheets F-2 F-3 F-4 F-5

Notes to Financial Statements

Notes to Financial Statements F-6

SIGNATURES

SIGNATURES iv PART I

BUSINESS

ITEM 1. BUSINESS On October 18, 2016, the Company completed the closing of the Transfer Agreement for the sale and transfer of the Company's 51% interest in All American Golf Center, Inc. ("AAGC"), which constituted substantially all of the Company's assets. As a result of the closing of the Transfer Agreement, the Company now has no or nominal operations and no or nominal assets and is therefore considered to be a "Shell Company" as that term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). At this time, our purpose is to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to us by persons or firms who or which desire to seek the perceived advantages of a corporation whose securities are registered pursuant to the Exchange Act. HISTORICAL DEVELOPMENT The Company was incorporated in Nevada on March 6, 1984, under the name "Sporting Life, Inc." The Company's name was changed to "St. Andrews Golf Corporation" on December 27, 1988, to "Saint Andrews Golf Corporation" on August 12, 1994, and to "All-American SportPark, Inc." on December 14, 1998. Effective February 15, 2021 the name of the Company was changed to "Global Acquisitions Corporation." In December 1994, the Company completed an initial public offering of 1,000,000 Units, each Unit consisting of one share of Common Stock and one Class A Warrant. The net proceeds to the Company from this public offering were approximately $3,684,000. The Class A Warrants expired unexercised on March 15, 1999. On July 12, 1996, the Company entered into a lease agreement of land in Las Vegas, Nevada, on which the Company developed a Golf Center and All-American SportPark, ("SportPark") properties. The discontinued SportPark that opened for business in October 1998 was disposed of in May 2001. On June 15, 2011, the Company entered into a Stock Transfer Agreement with Saint Andrews pursuant to which the Company trans

RISK FACTORS

RISK FACTORS Not required.

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS None.

CYBERSECURITY

ITEM 1C. CYBERSECURITY Since the closing of the Transfer Agreement, we have been a shell company with nominal operations and assets and our sole business activity has been to seek, investigate, and, if warranted, acquire an interest in a business opportunity. Therefore, we do not believe that we face significant cybersecurity risk. We have not adopted any cybersecurity risk management program or formal processes for assessing cybersecurity risk. However, because we depend on the digital technologies of third-party IT service providers, we and third parties may be our reliance on the technologies of third parties, we also depend upon the personnel and the processes of third parties to protect against cybersecurity threats, and we have no personnel or processes of our own for this purpose. Our management is generally responsible for assessing and managing any cybersecurity threats. If and when any reportable cybersecurity incident arises, our management shall promptly report such matters to our Board of Directors for further actions, including regarding the appropriate disclosure, mitigation, or other response or actions that the Board of Directors deems appropriate to take. 4 We have not encountered any cybersecurity incidents since the closing of the Transfer Agreement." ITEM 2.

PROPERTIES

PROPERTIES The Company has no properties. The Company's corporate offices are located at 6730 Las Vegas Boulevard South, Las Vegas, Nevada 89119 in space shared with AAGC. 5

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS The Company is not presently a party to any legal proceedings, except for routine litigation that is incidental to the Company's business.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES. This item is not applicable to the Company. PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS,

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES MARKET INFORMATION. The Company's common stock is currently traded in the over-the-counter market and is quoted on the OTC Markets Group Inc. Pink Tier under the symbol "AASP." The following table sets forth the high and low sales prices of the common stock for the periods indicated. HIGH LOW Year Ended December 31, 2023 First Quarter $ 0.49 $ 0.13 Second Quarter $ 0.30 $ 0.13 Third Quarter $ 0.24 $ 0.14 Fourth Quarter $ 0.63 $ 0.11 Year Ended December 31, 2022: First Quarter $ 0.71 $ 0.33 Second Quarter $ 0.64 $ 0.28 Third Quarter $ 0.45 $ 0.27 Fourth Quarter $ 0.40 $ 0.28 6 HOLDERS The number of holders of record of the Company's $0.001 par value common stock as of March __ , 2024 was approximately 750 This does not include approximately 400 shareholders who hold stock in their accounts at broker/dealers. DIVIDENDS Holders of common stock are entitled to receive such dividends as may be declared by the Company's Board of Directors. No dividends have been paid with respect to the Company's common stock and no dividends are expected to be paid in the foreseeable future. It is the present policy of the Board of Directors to retain all earnings to provide for the growth of the Company. Payment of cash dividends in the future will depend, among other things, upon the Company's future earnings, requirements for capital improvements and financial condition. SALES OF UNREGISTERED SECURITIES. During the quarter ended December 31, 2023, the Company had no sales of unregistered securities. ISSUER PURCHASES OF EQUITY SECURITIES None.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following information should be read in conjunction with the Company's

Financial Statements and the Notes thereto included in this report

Financial Statements and the Notes thereto included in this report. CRITICAL ACCOUNTING POLICIES AND ESTIMATES Our financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). In connection with the preparation of the financial statements, we are required to make assumptions and estimates about future events that affect the reported amounts of assets, liabilities, revenue, expenses and the related disclosures. We base our assumption and estimate on historical experience and other factors that management believes are relevant at the time our financial statements are prepared. On a periodic basis, management reviews the accounting policies, assumptions and estimates to ensure that our financial statements are presented fairly and in accordance with GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from the estimates and assumptions, and such differences could be material. Our significant accounting policies are discussed in Note 2, Summary of Significant Accounting Policies in the Notes to the Financial Statements. The following accounting policies are most critical in fully understanding and evaluating our reported financial results. 7 Use of Estimates The preparation of financial United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Significant estimates and assumptions made by management include, but are not limited to, the determination of the provision for income taxes. The Company bases the estimates on historical experience and on various other assumptions that are believed to be reasonable. Actual res

financial statements

financial statements. OVERVIEW OF CURRENT OPERATIONS On October 18, 2016, the Company completed the closing of the Transfer Agreement for the sale and transfer of the Company's 51% interest in All American Golf Center, Inc. ("AAGC"), which constituted substantially all of the Company's assets. As a result of the closing of the Transfer Agreement, the Company now has no or nominal operations and no or nominal assets and is therefore considered to be a "Shell Company" as that term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). At this time, our purpose is to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to us by persons or firms who or which desire to seek the perceived advantages of a corporation whose securities are registered pursuant to the Exchange Act. We will not restrict our search to any specific business or geographical location. This discussion of our proposed business is purposefully general and is not meant to be restrictive of our discretion to search for and enter into potential business opportunities. Management anticipates that we may be able to participate in only one potential business venture because we have nominal assets and limited financial resources. This lack of diversification should be considered a substantial risk to our shareholders because it will not permit us to offset potential losses from one venture against gains from another. We may seek a business opportunity with entities that have recently commenced operations, or that wish to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly-owned subsidiaries in various businesses or acquire existing businesses as subsidiaries. The Company has not entered into any definitive or binding agreements

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