GLOBAL ACQUISITIONS CORP Files Quarterly Report on Form 10-Q for Period Ended March 31, 2024

TL;DR

<b>GLOBAL ACQUISITIONS CORP has filed its quarterly report for Q1 2024, detailing financial information and corporate history.</b>

AI Summary

GLOBAL ACQUISITIONS Corp (AASP) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. GLOBAL ACQUISITIONS CORP filed a Form 10-Q for the quarterly period ended March 31, 2024. The company was formerly known as ALL AMERICAN SPORTPARK INC and SAINT ANDREWS GOLF CORP. Its principal executive offices are located at 6730 South Las Vegas Boulevard, Las Vegas, NV 89119. The company is incorporated in Nevada and has an IRS Employer Identification No. of 88-0203976. The filing is for the period beginning January 1, 2024, and ending March 31, 2024.

Why It Matters

For investors and stakeholders tracking GLOBAL ACQUISITIONS Corp, this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the first quarter of 2024. Understanding the historical name changes and current corporate structure is crucial for assessing the company's evolution and potential strategic direction.

Risk Assessment

Risk Level: low — GLOBAL ACQUISITIONS Corp shows low risk based on this filing. The filing is a standard 10-Q, indicating routine reporting rather than significant events, and lacks specific financial performance data in the provided text.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and any new risk factors or business developments.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Quarterly report for the period ended March 31, 2024)
• 2024-01-01 — Reporting Period Start Date (Quarterly report for the period ended March 31, 2024)
• 000-24970 — Commission File Number (SEC file number for GLOBAL ACQUISITIONS CORPORATION)
• 88-0203976 — IRS Number (IRS Employer Identification No.)

Key Players & Entities

• GLOBAL ACQUISITIONS CORP (company) — Registrant name
• March 31, 2024 (date) — Quarterly period ended
• ALL AMERICAN SPORTPARK INC (company) — Former company name
• SAINT ANDREWS GOLF CORP (company) — Former company name
• 6730 South Las Vegas Boulevard (address) — Principal executive offices street
• Las Vegas, NV 89119 (address) — Principal executive offices city, state, zip
• 88-0203976 (identifier) — IRS Employer Identification No.
• Nevada (jurisdiction) — State of incorporation

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 quarterly reports from public companies.

What Investors Should Do

1. Analyze the financial statements within the full 10-Q for revenue, expenses, and profitability.
2. Review the Management's Discussion and Analysis section for insights into business operations and outlook.
3. Check for any updates on legal proceedings, risk factors, or significant business events.

Year-Over-Year Comparison

This is the initial filing provided for analysis; comparison to a prior filing is not possible with the given data.

Key Financial Figures

• $0.001 — The number of shares of Common Stock, $0.001 par value, outstanding on May 2, 2024 w
• $1,286,702 — ies controlled by the Boretas cancelled $1,286,702 owed to them by the Company. In additio
• $12,911 — three months ended March 31, 2024 were $12,911, a decrease of $8,772 or 40.46%, from $
• $8,772 — ch 31, 2024 were $12,911, a decrease of $8,772 or 40.46%, from $21,683 for the three m
• $21,683 — 1, a decrease of $8,772 or 40.46%, from $21,683 for the three months ended March 31, 20
• $150 — / (Decrease) $ % Current Assets $150 $38 $112 294.74% Current Liabilitie
• $38 — crease) $ % Current Assets $150 $38 $112 294.74% Current Liabilities 62
• $112 — e) $ % Current Assets $150 $38 $112 294.74% Current Liabilities 623,310
• $623,160 — 13,023 2.13% Working Capital Deficit $623,160 $610,249 Going Concern The accompan
• $610,249 — 13% Working Capital Deficit $623,160 $610,249 Going Concern The accompanying unaud
• $29,357,730 — 2024, we had an accumulated deficit of $29,357,730 and a stockholders' deficit of $623,160

Filing Documents

• ixform10q.htm (10-Q) — 227KB
• exhibit31-1.htm (EX-31.1) — 9KB
• exhibit32-1.htm (EX-32.1) — 3KB
• 0001472375-24-000037.txt (&nbsp;) — 1313KB
• global930245-20240331.xsd (EX-101.SCH) — 13KB
• global930245-20240331_cal.xml (EX-101.CAL) — 20KB
• global930245-20240331_def.xml (EX-101.DEF) — 23KB
• global930245-20240331_lab.xml (EX-101.LAB) — 102KB
• global930245-20240331_pre.xml (EX-101.PRE) — 82KB
• ixform10q_htm.xml (XML) — 79KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15 PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17

SIGNATURES

SIGNATURES PART 1 – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1 FINANCIAL STATEMENTS GLOBAL ACQUISITIONS CORPORATION CONDENSED BALANCE SHEETS March 31, 2024 (unaudited) December 31, 2023 Assets Current assets: Prepaid expenses and other current assets $ 150 $ 38 Total current assets 150 38 Total Assets $ 150 $ 38 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable and accrued expenses $ 29,640 $ 22,680 Due to related parties 593,670 587,607 Total current liabilities 623,310 610,287 Commitment and Contingencies - - Stockholders' Deficit: Preferred stock, $ 0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding as of March 31, 2024 and December 31, 2023. - - Common stock, $ 0.001 par value, 500,000,000 shares authorized, 5,658,123 and 5,658,123 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 5,658 5,658 Additional paid-in capital 28,728,912 28,728,912 Accumulated deficit ( 29,357,730 ) ( 29,344,819 ) Total stockholder's deficit ( 623,160 ) ( 610,249 ) Total Liabilities and Stockholders' Deficit $ 150 $ 38 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 G LOBAL A CQUISITIONS C ORPORATION CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the 3 Months Ended March 31, 2024 2023 Operating Expenses: General & administrative $ 12,911 $ 21,683 Total operating expenses 12,911 21,683 Loss from operations ( 12,911 ) ( 21,683 ) Total expense ( 12,911 ) ( 21,683 ) Net loss before provision for income tax ( 12,911 ) ( 21,683 ) Net Loss $ ( 12,911 ) $ ( 21,683 ) Weighted average number of common shares outstanding-basic and fully diluted 5,658,123 5,658,123 Net loss per share – basic and fully diluted $ ( 0.00 ) $ ( 0.00 ) The accompanying notes are an integral part of these unaudited condensed financial statements 2 GLOBAL ACQUISITIONS CORPORATION CONDENSED

financial statements. Under this method, deferred tax assets and liabilities

financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. A valuation allowance is established against deferred tax assets that do not meet the criteria for recognition. In the event the Company were to determine that it would be able to realize deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the valuation allowance which would reduce the provision for income taxes. The Company follows the accounting guidance which provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized initially and in subsequent periods. Also included is guidance on measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. 7 c. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company adopted the ASC-820 "Fair Value Measurement" related to fair value measurement at inception. The standard defines

financial statements have been prepared on a going concern basis, which

financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2024, we had an accumulated deficit of $ 29,357,730 and a stockholders' deficit of $ 623,160 . The Company's management believes that its operations may not be sufficient to fund operating cash needs over at least the next 12 months. The Company has no significant assets and continues to depend on affiliates to provide funds to pay its ongoing expenses. There can be no assurance however that the Company will be able to raise additional capital when needed, or at terms deemed acceptable, if at all. These factors raise substantial doubt about the company's ability to continue as a going concern within one year after the date that the unaudited condensed financial statements are issued. The unaudited condensed financial classification of asset carrying amounts or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern. NOTE 4- RELATED PARTY TRANSACTIONS Due to related parties AAGC has advanced funds to pay certain expenses of the Company. The Company formerly owned a 51% interest in AAGC. At March 31, 2024 and December 31, 2023, the total amounts owed to AAGC were $ 593,670 and $ 587,607 , respectively. 9 NOTE 5- COMMITMENTS The Company has no commitments. NOTE 6 – CAPITAL STOCK, STOCK OPTIONS, AND INCENTIVES PREFERRED STOCK Preferred stock, $ 0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding as of March 31, 2024 and December 31, 2023. The Company's Board of Directors shall determine the rights, preferences, privileges and restrictions of the preferred stock, including dividends rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms an

MANAGEMENT'S DISCUSSION AND

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Forward-Looking This document contains "forward-looking "forward-looking statements" for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

Forward-looking statements may

Forward-looking statements may include the words "may," "could," "estimate," "intend," "continue," "believe," "expect" or "anticipate" or other similar words. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on

forward-looking statements, which speak only as of the dates on which they are

forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures we make in future filings of our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change inherent risks and uncertainties. The factors affecting these risks and uncertainties include, but are not limited to: the ability of management to effectively implement our strategies and business plan; the willingness of management to pay for our ongoing expenses; and the other risks and uncertainties detailed in this report. 11 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 specifi

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View this 10-Q filing on SEC EDGAR