10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934.

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2017

OR  

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

 FLAGSHIP GLOBAL CORPORATION
(Exact name of registrant as specified in its charter)

Nevada	333-165538	26-4033740
(State or other jurisdiction of	(Commission File Number)	(IRS Employer
incorporation)		Identification No.)

50 Hill Crescent,

Worcester Park, Surrey, England KT4 8NA

(Address of principal executive offices)

Registrant’s telephone number, including area code 020 8949 2259

N/A 

(Former name or former address, if changed since last report.)

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 3 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 3 months (or for such shorter period that the registrant was required to submit and post such files). [X] Yes [ ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. 

Large accelerated filer  ☐	Accelerated filer  ☐	Non-accelerated filer  ☐ (Do not check if a smaller reporting company)
Smaller reporting company  ☒	Emerging growth company  ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

[ ] Yes [X] No

State the number of shares outstanding of each of the issuer’s classes of common equity, as of August 14, 2017: 43,611,250 shares of common stock.

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Table of Contents

TABLE OF CONTENTS

FLAGSHIP GLOBAL CORPORATION

 INDEX

 PART I - FINANCIAL INFORMATION

ITEM 1	FINANCIAL STATEMENTS	F1
Balance Sheets at June 30, 2017 (unaudited) and December 31, 2016		F1
Statements of Operations for the Three and Six Months ended June 30, 2017 and the Three and Six Months ended June 30, 2016 (unaudited).		F2
Statements of Cash Flows for the Six Months ended June 30, 2017 and the Six Months ended June 30, 2016 (unaudited)		F3
Notes to Unaudited Financial Statements		F4
ITEM 2	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	3
ITEM 3	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	4
ITEM 4	CONTROLS AND PROCEDURES	4
PART II-OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	4
ITEM 1A	RISK FACTORS	4
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	4
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	4
ITEM 4	MINE SAFETY DISCLOSURES	5
ITEM 5	OTHER INFORMATION	5
ITEM 6	EXHIBITS	5
SIGNATURES		5

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ITEM 1 FINANCIAL STATEMENTS

Flagship Global Corporation
Balance Sheets
				June 30,		December 31,
				2017		2016
				(Unaudited)
ASSETS
	Total Assets		$	-	$	-
LIABILITIES AND STOCKHOLDERS’ DEFICIT
	CURRENT LIABILITIES:
		Accounts Payable	$	18,684	$	18,684
		Accrued Expenses		5,720		8,305
		Due to Related Party		3,500		-
		Short-term Borrowings		20,683		3,865
	Total Liabilities			48,587		30,854
	STOCKHOLDERS' DEFICIT:
		Preferred Stock ($.0001 par value, 10,000,000 shares authorized; none issued and outstanding as of June 30, 2017 and December 31, 2016)		-		-
		Common Stock ($.0001 par value, 500,000,000 shares authorized, 43,611,250 shares issued and outstanding as of June 30, 2017 and December 31, 2016)		4,361		4,361
		Additional Paid in Capital		63,371		63,371
		Accumulated Deficit		(116,319)		(98,586)
	Total Stockholders' Deficit			(48,587)		(30,854)
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT			$	-	$	-

The accompanying notes are an integral part of these unaudited financial statements.

-F1-

FLAGSHIP GLOBAL CORPORATION

STATEMENTS OF OPERATIONS

(Unaudited) 

		Three Months Ended June 30, 2017		Three Months Ended June 30, 2016		Six Months Ended June 30, 2017		Six Months Ended June 30, 2016
Operating Expenses
General & Administrative Expenses	$	9,268	$	2,868	$	17,733	$	5,781
Total Operating Expenses		9,268		2,868		17,733		5,781
Net Loss	$	(9,268)	$	(2,868)	$	(17,733)	$	(5,781)
Basic and Diluted Net Loss Per Common Share	$	(0.00)	$	(0.00)	$	(0.00)	$	(0.00)
Weighted Average Number of Common Shares Outstanding, Basic and Diluted (*)		43,611,250		43,611,250		43,611,250		43,611,250

(*) On May 31, 2016, the Company approved the reverse stock split, whereby every eight (8) shares of the common stock was automatically reclassified and changed into one (1) share (the "1-for-8 Reverse Stock Split"), which is effective June 17, 2016. The authorized number of shares and par value per share were not affected by the 1-for-8 Reverse Stock Split. The Company's capital accounts have been retroactively restated to reflect the 1-for-8 Reverse Stock Split.

The accompanying notes are an integral part of these unaudited financial statements.

-F2-

 flagship global CORPORATION

STATEMENTS OF CASH FLOWS 

(Unaudited) 

	For the Six Months			For the Six Months
	ended June 30, 2017			ended June 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(17,733	)	$	(5,781	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Capital contribution for expenses paid by former majority shareholder		-			5,363
Changes in current assets and liabilities:
Due to related party		3,500			-
Accrued expenses		14,233			418
Net cash provided by (used in) operating activities		-			-
Net Change in Cash		-			-
Cash at beginning of period:		-			-
Cash at end of period:	$	-		$	-
NON-CASH TRANSACTIONS:
Operating expenses paid by others	$	16,818		$	-
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

The accompanying notes are an integral part of these unaudited financial statements.

-F3-

 flagship global CORPORATION

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2017

(UNAUDITED)  

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Flagship Global Corporation was incorporated in the State of Nevada, United States of America, on October 17, 2007 under the name Nevada Legacy Enterprises Corporation. Our fiscal year end is December 31. On February 4, 2010, we changed our name to NL One Corporation. On June 27, 2016, we changed our name to Flagship Global Corporation.

The accompanying unaudited interim financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation SX. In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the financial position as of June 30, 2017, and the results of operations and cash flows for the three and six month periods ended June 30, 2017 and 2016. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year ending December 31, 2017. When used in these notes, the terms "Company", "we", "us" or "our" mean the Company. Certain information and note disclosure normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America has been omitted from these interim financial statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive interim financial statements and should be read in conjunction with our audited financial statements for the year ended December 31, 2016.

NOTE 2 - GOING CONCERN

The Company's interim unaudited financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not established any source of revenue to cover its operating costs. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders.

The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 3 - SHORT TERM BORROWING

For the six months ended June 30, 2017, $16,818 in expenses were paid on behalf of the Company by four individuals. For the year ended December 31, 2016, $3,865 in expenses were paid on behalf of the Company by an individual. The total amount due to these individuals is $20,683 and $3,865 as of June 30, 2017 and December 31, 2016, respectively, and these loans are noninterest bearing, unsecured, and due on demand.

NOTE 4 - RELATED PARTY TRANSACTIONS

For the six months ended June 30, 2017, Frontier Limited, LLC, a company owned by our former shareholder, Thomas DeNunzio, provided consulting services in the amount of $10,548. As of June 30, 2017, the total amount due to Frontier Limited, LLC is $3,500.

-F4-

ITEM 2 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

For the six months ended June 30, 2017 we had a net loss of $17,733 which is $11,952 more when compared to our net loss of $5,781 for the six months ended June 30, 2016. We attribute this increase to an increase in operating expenses of which are comprised mostly of professional fees.

PLAN OF OPERATION 

We have the technologies that may be used to develop fiber optic and electronic technologies to monitor a health care patient’s blood glucose levels, and for monitoring intravenous injection sites for infiltration of medication into tissue surrounding an intravenous injection site. As of the date of this Form 10-Q, development of our technologies into viable working products has not begun.

Flagship aims to become a substantial diversified holding company that provides financial backing to and makes investments in the equity and debt securities of target companies through a variety of investment strategies including leveraged buyout, venture capital, and growth capital. Flagship will acquire a controlling or substantial minority position in a company and then look to maximize the value of that investment. Typically, Flagship will provide working capital to a target company to nurture expansion, product development, or restructuring of the Company’s operations, management or ownership. Flagship will consider making long term investments in target industry sectors and specific investment areas where we have or can supplement our expertise through our partner and advisory relationships. Flagship may occasionally take on operational roles in order to manage risks and achieve growth ambitions. See our Form 8-K filed with the SEC on July 12, 2017.

Our cash balance is $0 as of June 30, 2017.  We believe our cash balance is not sufficient to fund our limited levels of operations for any period of time. We may utilize funds from our President and CEO as well as our majority shareholder, who has informally agreed to contribute funds to allow us to pay for filing fees, and professional fees for no further consideration. The President, CEO and sole Director, however, have no formal commitment, arrangement or legal obligation to advance or loan funds to the Company. The Company has no debt payable to our CEO as of June 30, 2017.

In order to achieve our business plan goals, we will need to obtain additional funding. We are a growth stage company and have generated no revenue to date. At the present time, we have not made any arrangements to raise additional funds.

If we need additional cash and cannot raise it, we will either have to suspend operations until we do raise the cash, or cease operations entirely.

LIQUIDITY

We have no known demands or commitments and are not aware of any events or uncertainties as of June 30, 2017 that will result in or that are reasonably likely to materially increase or decrease our current liquidity.

CAPITAL RESOURCES

We had no material commitments for capital expenditures as of June 30, 2017 and December 31, 2016.

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OFF-BALANCE SHEET ARRANGEMENTS

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

CRITICAL ACCOUNTING POLICIES

We prepare our unaudited interim financial statements in conformity with GAAP, which requires management to make certain estimates and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the interim financial statements are prepared. Due to the need to make estimates about the effect of matters that are inherently uncertain, materially different amounts could be reported under different conditions or using different assumptions. On a regular basis, we review our critical accounting policies and how they are applied in the preparation of our interim financial statements.

While we believe that the historical experience, current trends and other factors considered support the preparation of our financial statements in conformity with GAAP, actual results could differ from our estimates and such differences could be material. 

ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide the information required by this Item.  

ITEM 4  CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our Principal Executive Officer and Principal Financial Officer evaluated the effectiveness of our disclosure controls and procedures as of June 30, 2017. Based on that evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures as of the end of the period covered by this report were ineffective such that the information required to be disclosed by us in reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to the Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding disclosure.

Material weaknesses noted were: lack of a functioning audit committee; lack of a majority of outside directors on board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; inadequate segregation of duties consistent with control objectives affecting authorization, recordkeeping, custody of assets, and reconciliations; and, management is dominated by a single individual/small group without adequate compensating controls; and lack of well established procedures to identify, approve, and report related party transactions.

Management believes that the material weaknesses set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods. 

Changes in Internal Controls over Financial Reporting

There have been no significant changes to the Company’s internal controls over financial reporting that occurred during our last fiscal quarter ended June 30, 2017 that materially affected, or were reasonably likely to materially affect, our internal controls over financial reporting. 

PART II-OTHER INFORMATION

ITEM 1 LEGAL PROCEEDINGS

There are no legal proceedings against the Company and the Company is unaware of such proceedings contemplated against it.

ITEM 1A RISK FACTORS

As a “smaller reporting company” defined by Item 10 of Regulation S-K, the Company is not required to provide the information required by this Item.

ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the period between our previous fiscal year-end of December 31, 2016 through the date of this filing there have been no unregistered sales of securities.

ITEM 3DEFAULTS UPON SENIOR SECURITIES

None.

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ITEM 4 MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5 OTHER INFORMATION

None.

ITEM 6 EXHIBITS

(a) Exhibits required by Item 601 of Regulation S-K.

Exhibit No.	Description
3.1	Certificate of Incorporation (1)
3.2	By-laws. (1)
31.1	Certification of the Company’s Principal Executive and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s report on Form 10-Q for the quarter ended June 30, 2017. (2)
32.1	Certification of the Company’s Principal Executive and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (2)
101.INS	XBRL Instance Document (3)
101.SCH	XBRL Taxonomy Extension Schema (3)
101.CAL	XBRL Taxonomy Extension Calculation Linkbase (3)
101.DEF	XBRL Taxonomy Extension Definition Linkbase (3)
101.LAB	XBRL Taxonomy Extension Label Linkbase (3)
101.PRE	XBRL Taxonomy Extension Presentation Linkbase (3)

 ____________________

(1)	Filed as an exhibit to the Company's Registration Statement on Form S-1, as filed with the SEC on April 29, 2015, and incorporated herein by this reference.
(2)	Filed herewith.
(3)	Users of this data are advised that, pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or Section 18 of the Exchange Act of 1934 and otherwise are not subject to liability.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, there unto duly authorized.

Flagship Global Corporation

(Registrant)

By: /s/ Gary R. Brown

Principal Executive Officer

Dated: August 14, 2017

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EX-31.1

EXHIBIT 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL

OFFICER PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 AND

SECURITIES AND EXCHANGE COMMISSION RELEASE 34-46427

I, Gary Richard Brown, certify that:

1. I have reviewed this report on Form 10-Q of Flagship Global Corporation.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. As the registrant’s Principal Executive officer and Principal Financial Officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and I have:

a) designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By: /s/ Gary R. Brown

Gary R. Brown,

Chief Executive Officer,

Chief Financial Officer

Dated: August 14, 2017

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL

OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Report of Flagship Global Corporation (the “Company”) on Form 10-Q for the period ended June 30, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gary Richard Brown, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By: /s/ Gary R. Brown

Gary R. Brown,

Chief Executive Officer,

Chief Financial Officer

Dated: August 14, 2017

XML

Document and Entity Information - USD ($)	6 Months Ended
	Jun. 30, 2017	Aug. 14, 2017
Document And Entity Information
Entity Registrant Name	Flagship Global Corporation
Entity Central Index Key	0001486640
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float Shares		$ 606
Entity Common Stock, Shares Outstanding		43,611,250
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2017

XML

Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Total assets	$ 0	$ 0
Current liabilities
Accounts payable	18,684	18,864
Accrued Expenses	5,720	8,305
Due to Related Party	3,500
Short-term Borrowings	20,683	3,865
Total liabilities	48,587	30,854
Stockholders' deficit:
Common Stock	4,361	4,361
Additional paid-in capital	63,371	63,371
Accumulated deficit	(116,319)	(98,586)
Total stockholders' deficit	(48,587)	(30,854)
Total liabilities and stockholders' deficit	$ 0	$ 0

XML

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued and outstanding	43,611,250	43,611,250
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, issued and outstanding	0	0

XML

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating expenses:
General & administrative expenses	$ 9,268	$ 2,868	$ 17,733	$ 5,781
Total operating epenses	9,268	2,868	17,733	5,781
Net Loss	$ 9,268	$ (2,868)	$ (17,733)	$ (5,781)
Net loss per common share- Basic and diluted	$ 0	$ (0.00)	$ (0.00)	$ (0.00)
Basic weighted average common shares outstanding	43,611,250	43,611,250	43,611,250	43,611,250

XML

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Net Loss	$ 9,268	$ (17,733)	$ (5,781)
Adjustments to reconcile net loss to net cash used in operating activities:
Contribution of capital for expenses paid by former majority shareholder		0	5,363
Due to related party		3,500	0
Accrued Expenses		14,233	418
Net cash provided by (used in) operating activities		0	0
Non Change in Cash
Cash, beginning of period		0	0
Cash, end of period	$ 0	0
Operating expenses paid by others		16,818	0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest		0	0
Cash paid for taxes		$ 0	$ 0

XML

NOTE 1 ORGANIZATION AND DESCRIPTION OF BUSINESS

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE 1 ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Flagship Global Corporation was incorporated in the State of Nevada, United States of America, on October 17, 2007 under the name Nevada Legacy Enterprises Corporation. Our fiscal year end is December 31. On February 4, 2010, we changed our name to NL One Corporation. On June 27, 2016, we changed our name to Flagship Global Corporation.

The accompanying unaudited interim financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation SX. In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the financial position as of June 30, 2017, and the results of operations and cash flows for the three and six month periods ended June 30, 2017 and 2016. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year ending December 31, 2017. When used in these notes, the terms "Company", "we", "us" or "our" mean the Company. Certain information and note disclosure normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America has been omitted from these interim financial statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive interim financial statements and should be read in conjunction with our audited financial statements for the year ended December 31, 2016.

XML

NOTE 2 GOING CONCERN

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE 2 GOING CONCERN

NOTE 2 - GOING CONCERN

The Company's interim unaudited financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not established any source of revenue to cover its operating costs. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders.

The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

XML

NOTE 3 SHORT TERM BORROWING

6 Months Ended

Jun. 30, 2017

Note 3 Short Term Borrowing

SHORT TERM BORROWING

NOTE 3 - SHORT TERM BORROWING

For the six months ended June 30, 2017, $16,818 in expenses were paid on behalf of the Company by four individuals. For the year ended December 31, 2016, $3,865 in expenses were paid on behalf of the Company by an individual. The total amount due to these individuals is $20,683 and $3,865 as of June 30, 2017 and December 31, 2016, respectively, and these loans are noninterest bearing, unsecured, and due on demand.

XML

NOTE 4 RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

NOTE 4 RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

For the six months ended June 30, 2017, Frontier Limited, LLC, a company owned by our former shareholder, Thomas DeNunzio, provided consulting services in the amount of $10,548. As of June 30, 2017, the total amount due to Frontier Limited, LLC is $3,500.