Global Leaders Corp Files 2024 10-K

TL;DR

GLCP filed its 2024 10-K. All good.

AI Summary

Global Leaders Corp filed its 10-K for the fiscal year ending October 31, 2024, reporting on its management consulting services. The filing details financial data and operational aspects for the period, including comparative figures from the previous fiscal year. The company is incorporated in Nevada and operates from Wanchai, Hong Kong.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of Global Leaders Corp's financial health and business operations for the fiscal year 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance details or forward-looking statements that would indicate high risk.

Key Numbers

• 2024-10-31 — Fiscal Year End (Reporting period for the 10-K)
• 2025-01-24 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• GLOBAL LEADERS CORP (company) — Filer
• 0001830696 (company) — Central Index Key
• 8742 (industry_code) — Standard Industrial Classification
• NV (state) — State of Incorporation
• WANCHAI (location) — Business Address City
• 20241031 (date) — Fiscal Year End
• 20250124 (date) — Filing Date

FAQ

Key Financial Figures

• $0.0001 — of 600,000,000 shares of Common Stock, $0.0001 par value per share ("Common Stock") an
• $0.80 — ls in a private placement at a price of $0.80 per share, for total proceeds of $535,0
• $535,000 — $0.80 per share, for total proceeds of $535,000: Name of Shareholder Number of Share
• $5.00 — ty that has a market price of less than $5.00 per share. Our Common Stock, when and i
• $1,000,000 — (generally those with assets more than $1,000,000, or annual incomes exceeding $200,000 i
• $200,000 — $1,000,000, or annual incomes exceeding $200,000 individually, or $300,000, together wit
• $300,000 — mes exceeding $200,000 individually, or $300,000, together with their spouse). For tra
• $62,113 — 024, the Company incurred a net loss of $62,113 and used cash in operations of $70,297,
• $70,297 — $62,113 and used cash in operations of $70,297, and on October 31, 2024, the Company h
• $91,016 — Company had a stockholders' deficit of $91,016. These factors, among others, raise sub
• $570 — 1, 2024, the Company's cash balance was $570. Management estimates that the current
• $39,130 — r 31, 2024, and 2023: Our revenue was $39,130 and $14,061 for the years ended October
• $14,061 — and 2023: Our revenue was $39,130 and $14,061 for the years ended October 31, 2024, a
• $16,706 — vely. We incurred cost of revenues of $16,706 for the year ended October 31, 2024, wh
• $84,537 — and administrative (G&A) expenses were $84,537 and $514,505, respectively, and include

Filing Documents

• form10-k.htm (10-K) — 523KB
• ex31-1.htm (EX-31.1) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-25-003478.txt ( ) — 2683KB
• glcp-20241031.xsd (EX-101.SCH) — 21KB
• glcp-20241031_cal.xml (EX-101.CAL) — 23KB
• glcp-20241031_def.xml (EX-101.DEF) — 96KB
• glcp-20241031_lab.xml (EX-101.LAB) — 219KB
• glcp-20241031_pre.xml (EX-101.PRE) — 169KB
• form10-k_htm.xml (XML) — 267KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 3 Item 1B. Unresolved Staff Comments 3 Item 1C. Cybersecurity 3 Item 2.

Properties

Properties 3 Item 3.

Legal Proceedings

Legal Proceedings 3 Item 4. Mine Safety Disclosure 3 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 4 Item 6.

Selected Financial Data

Selected Financial Data 6 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 6 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 7 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 7 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 8 Item 9A.

Controls and Procedures

Controls and Procedures 8 Item 9B. Other Information 8 PART III Item 10. Directors, Executive Officers and Corporate Governance 9 Item 11.

Executive Compensation

Executive Compensation 10 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 11 Item 13. Certain Relationships and Related Transactions, and Director Independence 12 Item 14. Principal Accounting Fees and Services 12 PART IV Item 15. Exhibits, Financial Statement Schedules 13

SIGNATURES

SIGNATURES 14 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K of Global Leaders Corp., a Nevada corporation (the "Company"), contains "forward-looking

forward-looking statements by terminology such as "may", "will", "should", "could", "expects",

forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Our management has included projections and estimates in this Form 10-K, which are based primarily on management's experience in the industry, assessments of our results of operations, discussions, and negotiations with third parties and a review of information filed by our competitors with the SEC or otherwise publicly available. We caution readers not to place undue reliance on any such forward-looking to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. 1 PART I ITEM 1. BUSINESS CORPORATE HISTORY We are a company with a focus on start-up advisory and corporate consulting services, targeting start-up companies and young entrepreneurs in the Asia-Pacific Region. Global Leaders Corporation, a Nevada corporation (the "Company"), was incorporated in the State of Nevada on July 20, 2020. On August 25, 2020, the Company acquired 100% of the equity interests of Glo

financial statements required by this item are in PART IV of this Annual Report

financial statements required by this item are in PART IV of this Annual Report. 7 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE None. ITEM 9A. CONTROLS AND PROCEDURES DISCLOSURE

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES Under the supervision and with the participation of our management, including our principal executive and financial officer, we are responsible for conducting an evaluation of the effectiveness of the design and operation of our internal controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as of the end of the fiscal year covered by this report. Disclosure controls and procedures means that the material information required to be included in our Securities and Exchange Commission ("SEC") reports is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms relating to our company, including any consolidating subsidiaries, and was made known to us by others within those entities, particularly during the period when this report was being prepared. Based on this evaluation, our principal executive and financial officer concluded as of the evaluation date that our disclosure controls and procedures were not effective as of October 31, 2024, due to material weaknesses in our internal control over financial reporting as described below. MANAGEMENT'S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15. Internal control over financial reporting is defined in Rule 13a-15(f) and 15(d)-15(f) under the Exchange Act as a process designed to provide reasonable assurance to the Company's management and Board of Directors regarding the preparation and fair presentation of published financial statements. Management assessed the Company's internal control over financial reporting as of October 31, 2024, based on the framework and criteria established by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework (2013) (COSO). Based on the assessment

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View this 10-K filing on SEC EDGAR