GLOBAL ACQUISITIONS Corp Files Q2 2024 10-Q

TL;DR

GLOBAL ACQUISITIONS Corp dropped its Q2 10-Q, check financials for 2024 vs 2023.

AI Summary

GLOBAL ACQUISITIONS Corp filed its 10-Q report for the period ended June 30, 2024. The company, formerly known as ALL AMERICAN SPORTPARK INC and SAINT ANDREWS GOLF CORP, is incorporated in Nevada and operates in miscellaneous retail. The filing covers financial data for the second quarter of 2024 and the first six months of the year, comparing it to the same periods in 2023.

Why It Matters

This filing provides investors with the latest financial performance and position of GLOBAL ACQUISITIONS Corp, crucial for understanding its current operational health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not contain immediate red flags or significant new risks.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• 20240630 — Fiscal Year End (The company's fiscal year concludes on December 31st.)

Key Players & Entities

• GLOBAL ACQUISITIONS Corp (company) — Filer of the 10-Q report
• ALL AMERICAN SPORTPARK INC (company) — Former name of GLOBAL ACQUISITIONS Corp
• SAINT ANDREWS GOLF CORP (company) — Former name of GLOBAL ACQUISITIONS Corp
• 20240630 (date) — End of the reporting period
• 20240813 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — The number of shares of Common Stock, $0.001 par value, outstanding on August 13, 20
• $1,286,702 — ies controlled by the Boretas cancelled $1,286,702 owed to them by the Company. In additio
• $27,615 — any. In addition, the Company cancelled $27,615 of amounts due from entities controlled

Filing Documents

• ixform10q.htm (10-Q) — 282KB
• exhibit31-1.htm (EX-31.1) — 9KB
• exhibit32-1.htm (EX-32.1) — 4KB
• 0001472375-24-000080.txt ( ) — 1484KB
• global930245-20240630.xsd (EX-101.SCH) — 14KB
• global930245-20240630_cal.xml (EX-101.CAL) — 21KB
• global930245-20240630_def.xml (EX-101.DEF) — 33KB
• global930245-20240630_lab.xml (EX-101.LAB) — 110KB
• global930245-20240630_pre.xml (EX-101.PRE) — 91KB
• ixform10q_htm.xml (XML) — 104KB

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 16 PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 17 Item 1A.

Risk Factors

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

SIGNATURES

SIGNATURES 18 PART 1 – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1 FINANCIAL STATEMENTS GLOBAL ACQUISITIONS CORPORATION CONDENSED BALANCE SHEETS June 30, 2024 (unaudited) December 31, 2023 Assets Current assets: Prepaid expenses and other current assets $ 113 $ 38 Total current assets 113 38 Total Assets $ 113 $ 38 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable and accrued expenses $ 23,703 $ 22,680 Due to related parties 619,782 587,607 Total current liabilities 643,485 610,287 Commitment and Contingencies - - Stockholders' Deficit: Preferred stock, $ 0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. - - Common stock, $ 0.001 par value, 500,000,000 shares authorized, 5,658,123 and 5,658,123 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 5,658 5,658 Additional paid-in capital 28,728,912 28,728,912 Accumulated deficit ( 29,377,942 ) ( 29,344,820 ) Total stockholder's deficit ( 643,372 ) ( 610,250 ) Total Liabilities and Stockholders' Deficit $ 113 $ 38 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 GLOBAL ACQUISITIONS CORPORATION CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ending June 30, For the Six Months Ending June 30, 2024 2023 2024 2023 Operating Expenses: General and administrative expenses $ 20,212 $ 14,755 $ 33,122 $ 36,438 Total operating expenses 20,212 14,755 33,122 36,438 Loss from operation ( 20,212 ) ( 14,755 ) ( 33,122 ) ( 34,438 ) Total Expense ( 20,212 ) ( 14,755 ) ( 33,122 ) ( 36,438 ) Net Loss before provision for income tax ( 20,212 ) ( 14,755 ) ( 33,122 ) ( 36,438 ) Net Loss $ ( 20,212 ) $ ( 14,755 ) $ ( 33,122 ) $ ( 36,438 ) Weighted average number of common shares outstanding - basic and fully diluted 5,658,123 5,658

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 June 30, 2024, we had an accumulated deficit of $ 29,377,942 and a stockholders' deficit of $ 643,372 . 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 June 30, 2024 and December 31, 2023, the total amounts owed to AAGC were $ 619,782 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 June 30, 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 and

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Forward-Looking This document contains "forward-looking statements." All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and 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 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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