0001161697-12-000511.txt : 20120625 0001161697-12-000511.hdr.sgml : 20120625 20120625170920 ACCESSION NUMBER: 0001161697-12-000511 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20120531 FILED AS OF DATE: 20120625 DATE AS OF CHANGE: 20120625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL GROUP ENTERPRISES CORP. CENTRAL INDEX KEY: 0001537917 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-BEER, WINE & DISTILLED ALCOHOLIC BEVERAGES [5180] IRS NUMBER: 453864597 STATE OF INCORPORATION: FL FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-179311 FILM NUMBER: 12925107 BUSINESS ADDRESS: STREET 1: 221 BEACH RD. CITY: SIESTA KEY STATE: FL ZIP: 34242 BUSINESS PHONE: 941-284-5053 MAIL ADDRESS: STREET 1: 221 BEACH RD. CITY: SIESTA KEY STATE: FL ZIP: 34242 10-Q 1 form_10-q.htm FORM 10-Q FOR 05-31-2012

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q

(Mark One)


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


For the quarterly period ended May 31, 2012


or


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


For the transition period from __________________ to __________________


Commission File Number   333-179311


GLOBAL GROUP ENTERPRISES CORP.

(Exact name of registrant as specified in its charter)


Florida

 

45-3864597

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)


Andrew Keck

221 Beach Road, Siesta Key, Fl 34242

                         941-284-5053                         

(Registrant’s telephone number, including area code)


Not Applicable

(Former name, former address and former fiscal year, if changed since last report)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 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.  Yes [X]  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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes [X]  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

[   ]

Smaller reporting company

[X]

 

(Do not check if smaller reporting company)

 

 


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)  Yes [X]  No [   ]


Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 12,000,000 shares of common stock are issued and outstanding as of May 31, 2012.




TABLE OF CONTENTS


 

 

Page
No.

PART I – FINANCIAL INFORMATION

 

 

 

Item 1.

Financial Statements

 

 

 

 

 

Balance Sheets

4

 

 

 

 

Statements of Operations

5

 

 

 

 

Statements of Stockholders’ Equity (Deficiency)

6

 

 

 

 

Statements of Cash Flows

7

 

 

 

 

Notes to Financial Statements (unaudited)

8

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

11

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk.

11

 

 

 

Item 4.

Controls and Procedures.

11

 

 

 

PART II – OTHER INFORMATION

 

 

 

Item 1.

Legal Proceedings.

13

 

 

 

Item 1A.

Risk Factors.

13

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds.

13

 

 

 

Item 3.

Defaults Upon Senior Securities.

13

 

 

 

Item 4.

Mine Safety Disclosures.

13

 

 

 

Item 5.

Other Information.

13

 

 

 

Item 6.

Exhibits.

13


- 2 -



CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION


Certain statements in this report contain or may contain forward-looking statements. These statements, identified by words such as “plan”, “anticipate”, “believe”, “estimate”, “should”, “expect” and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward - looking statements. These forward-looking statements were based on various factors and were derived utilizing numerous assumptions and other factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, but are not limited to, our ability to secure suitable financing to continue with our existing business or change our business and conclude a merger, acquisition or combination with a business prospect, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors. Most of these factors are difficult to predict accurately and are generally beyond our control. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Readers should carefully review this report in its entirety, including but not limited to our financial statements and the notes thereto and the risks described in our Annual Report on Form 10-K for the fiscal year ended November 30, 2011. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”), particularly our quarterly reports on Form 10-Q and our current reports on Form 8-K. Except for our ongoing obligations to disclose material information under the Federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.


OTHER PERTINENT INFORMATION


When used in this report, the terms, “we,” the “Company,” “our,” and “us” refers to Global Group Enterprises Corp. a Florida corporation.


- 3 -



PART I – FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS


Global Group Enterprises Corp.

(A Development Stage Company)


Balance Sheets


 

 

As of

 

 

 

May 31, 2012

 

November 30, 2011

 

 

 

(unaudited)

 

(audited)

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

30,513

 

$

8,900

 

Total current assets

 

 

30,513

 

 

8,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

30,513

 

$

8,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

Accounts payable & Accrued liabilities

 

$

600

 

$

2,000

 

Total liabilities

 

 

600

 

 

2,000

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

Capital Stock (Note 4)

 

 

 

 

 

 

 

Authorized:

 

 

 

 

 

 

 

250,000,000 common shares, $0.0001 par value.

 

 

 

 

 

 

 

Issued and outstanding:

 

 

 

 

 

 

 

12,000 000 and 9,000,000 common shares at May 31, 2012 and November 30, 2011, respectively.

 

$

1,200

 

$

900

 

Additional paid-in capital

 

 

42,300

 

 

8,100

 

Deficit accumulated during the development stage

 

 

(13,587

)

 

(2,100

)

Total Stockholders’ Equity

 

 

29,913

 

 

6,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

 

$

30,513

 

$

8,900

 


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


- 4 -



Global Group Enterprises Corp.

(A Development Stage Company)


Statements of Operations


 

 

 

 

 

 

 

 

For the Period

 

 

 

 

 

 

 

 

 

from Inception

 

 

 

Three Months

 

Six Months

 

November 22, 2011

 

 

 

Ended

 

Ended

 

to

 

 

 

May 31, 2012

 

May 31, 2012

 

May 31, 2012

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

 

 

General & Administrative

 

 

9,937

 

 

10,127

 

 

10,227

 

Professional Fees

 

 

860

 

 

1,360

 

 

3,360

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss Before Income Taxes

 

$

(10,797

)

$

(11,487

)

$

(13,587

)

 

 

 

 

 

 

 

 

 

 

 

Provision for Income Taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$

(10,797

)

$

(11,487

)

$

(13,587

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PER SHARE DATA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted loss per common share

 

$

(0.00

)

$

(0.00

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted weighted average common shares outstanding

 

 

11,065,039

 

 

9,983,607

 

 

 

 


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


- 5 -



Global Group Enterprises Corp.

(A Development Stage Company)


Statement of Stockholders’ Equity (Deficiency)

 

 

 

 

 

 

 

 

 

 

Deficit

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

Additional

 

During the

 

 

 

 

 

Common Stock

 

Paid-in

 

Development

 

 

 

 

 

Shares

 

 

Amount

 

Capital

 

Stage

 

Total

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Inception - November 22, 2011

 

 

 

 

$

 

$

 

$

 

$

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares issued to Founder for cash
at $0.001 per share (par value $0.0001) on
November 22, 2011

 

 

9,000,000

 

 

 

900

 

 

8,100

 

 

 

 

9,000

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss for the period from inception on
November 22, 2011 to November 30, 2011

 

 

 

 

 

 

 

 

 

(2,100

)

 

(2,100

)

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance - November 30, 2011

 

 

9,000,000

 

 

 

900

 

 

8,100

 

 

(2,100

)

 

6,900

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss for the period ended February 29, 2012

 

 

 

 

 

 

 

 

 

(690

)

 

(690

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance - February 29, 2012

 

 

9,000,000

 

 

 

900

 

 

8,100

 

 

(2,790

)

 

6,210

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares issued for cash
at $0.0115 per share on April 2, 2012

 

 

3,000,000

 

 

 

300

 

 

34,200

 

 

 

 

34,500

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss for the period ended May 31, 2012

 

 

 

 

 

 

 

 

 

(10,797

)

 

(10,797

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance - May 31, 2012

 

 

12,000,000

 

 

 

1,200

 

 

42,300

 

 

(13,587

)

 

29,913

 


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


- 6 -



Global Group Enterprises Corp.

(A Development Stage Company)


Statements of Cash Flow


 

 

 

 

 

For the Period

 

 

 

 

 

 

from Inception

 

 

 

Six Months

 

November 22, 2011

 

 

 

Ended

 

to

 

 

 

May 31, 2012

 

May 31, 2012

 

 

 

(unaudited)

 

(unaudited)

 

 

 

 

 

 

 

 

 

OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$

(11,487

)

$

(13,587

)

 

 

 

 

 

 

 

 

Changes in Operating Assets and Liabilities:

 

 

 

 

 

 

 

Increase (decrease) in accounts payable and accrued liabilities

 

 

(1,400

)

 

600

 

Net cash used in operating activities

 

 

(12,887

)

 

(12,987

)

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

 

 

 

Capital Stock issued for cash

 

 

34,500

 

 

43,500

 

Net cash provided by financing activities

 

 

34,500

 

 

43,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCREASE IN CASH AND CASH EQUIVALENTS

 

 

21,613

 

 

30,513

 

 

 

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

 

 

8,900

 

 

 

 

 

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS AT END OF PERIOD

 

$

30,513

 

$

30,513

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Disclosures:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for:

 

 

 

 

 

 

 

Interest expense

 

$

 

$

 

Income taxes

 

$

 

$

 


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


- 7 -



Global Group Enterprises Corp.

(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


NOTE 1. NATURE OF BUSINESS


Global Group Enterprises Corp. (the “Company”), a Florida corporation, was formed to produce, market and sell Ultra Premium Vodka product to retailers. The Company was incorporated on November 22, 2011 (Date of Inception) with its corporate headquarters located in Siesta Key, Florida and its year-end is November 30, 2012.


NOTE 2. GOING CONCERN


The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  The Company has not yet emerged from its development stage, as not established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan.  The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.  If the Company is unable to obtain adequate capital, it could be forced to cease operations.  These factors raise substantial doubt about its ability to continue as a going concern.


In order to continue as a going concern, the Company will need, among other things, additional capital resources.  Management’s plan to obtain such resources for the Company include, obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses.  However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.


There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company.  In addition, profitability will ultimately depend upon the level of revenues received from business operations.  However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.


NOTE 3. SIGNIFICANT ACCOUNTING POLICIES


The significant accounting policies followed are:


USE OF ESTIMATES


The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.


Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.


BASIS OF PRESENTATION


The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for the interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-Q and Article 8 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented.  Unaudited interim results are not necessarily indicative of the results for the full fiscal year.  These financial statements should be read in conjunction with the financial statements of the Company for the period from November 22, 2011 (inception) through November 30, 2011 and notes thereto contained in the information filed as part of the Company’s Registration Statement on Form S-1,


- 8 -



Global Group Enterprises Corp.

(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


FINANCIAL INSTRUMENTS


The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.


CASH AND CASH EQUIVALENTS


All cash, other than held in escrow, is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Temporary cash investments with an original maturity of three months or less are considered to be cash equivalents.


DEFERRED INCOME TAXES AND VALUATION ALLOWANCE


The Company accounts for income taxes under FASB ASC 740 “Income Taxes.”  Under the asset and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs.  A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.


NET INCOME (LOSS) PER COMMON SHARE


Net income (loss) per share is calculated in accordance with FASB ASC 260, “Earnings Per Share.”  The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share.  Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding.  Dilutive potential common shares are additional common shares assumed to be exercised.


Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at May 31, 2012.  As of May 31, 2012, the Company had no dilutive potential common shares.


REVENUE AND COST RECOGNITION


The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost.


ADVERTISING


Advertising costs are expensed as incurred.  No advertising costs have been incurred as of May 31, 2012.


RECENTLY ACCOUNTING PRONOUNCEMENTS


Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company.  Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company’s present or future financial statements.


- 9 -



Global Group Enterprises Corp.

(A Development Stage Company)


NOTES TO FINANCIAL STATEMENTS


NOTE 4. INCOME TAXES


The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods.  The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses and other temporary differences, the realization of which could not be considered more likely than not.  In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.  For the period November 22, 2011 (date of inception) through May 31, 2012, the Company incurred losses, resulting from operating activities, which result in deferred tax assets at the effective statutory rates.  The deferred tax asset has been off-set by an equal valuation allowance.


NOTE 5. SHAREHOLDER’S EQUITY


COMMON STOCK


The authorized common stock of the Company consists of 250,000,000 shares with a par value of $0.0001.  The Company issued 9,000,000 shares of our $.0001 par value common stock to Andrew Keck , our CEO and sole Director, on  November 22, 2011 for cash in the amount of $9,000 (per share price of $.001).


The Company sold 3,000,000 shares of our $.0001 par value common stock to a group of Investors on  March 14, 2012 for cash in the amount of $34,500 (per share price of $.0115).


There are no warrants or options outstanding to acquire any additional shares of common stock of the Company.


NOTE 6. RELATED PARTY TRANSACTIONS


On November 22, 2011, the Company sold 9,000,000 shares of common stock to its founder for $0.001 per share.


The officer and director of the Company is or may be involved in other business activities and may, in the future, become involved in other business opportunities that become available. He may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.


The Company does not own or lease property. The Company uses temporary office space which is leased from an un-related party.


The above is not necessarily indicative of the amounts that would have been incurred had a comparable transaction been entered into with independent parties.


NOTE 7. COMMITMENTS AND CONTINGENCY


From time to time the Company may be a party to litigation matters involving claims against the Company.  Management believes that there are no current matters that would have a material effect on the Company’s financial position or results of operations.


NOTE 8. SUBSEQUENT EVENTS


Management has evaluated events subsequent through June 8, 2012, which is the date these financial statements were available to be issued, to determine whether they should be disclosed to keep the financial statements from being misleading. Management found no such subsequent events to disclose.


- 10 -



ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION


Overview


Global Group Enterprises Corp. (the “Company”), a Florida corporation, was formed to produce, market and sell Ultra Premium Vodka product to retailers. The Company was incorporated on November 22, 2011 (Date of Inception) with its corporate headquarters located in Siesta Key, Florida and its year-end is November 30, 2012. We have no operations and in accordance with SFAS #7 is considered to be in the development stage.


Results of Operations


The following discussion should be read in conjunction with the condensed financial statements and segment data and in conjunction with the Company’s S-1 and amended S-1/A’s. Results or interim periods may not be indicative of results for the full year.


During the six months of the fiscal year 2012, the Company was focused on preparing the documentation required to be filed with the Securities and Exchange Commission (SEC) and with the Financial Industry Regulatory Authority (FINRA). On February 2, 2012 the Company filed a Registration Form S-1 and also filed an S-1/A Amendments on March 6, 2012 with the SEC.


Results of Operations


The Company did not generate any revenue during the three or six months ended May 31, 2012.


Total expenses the three (3) and six (6) months ending May 31, 2012 were $10,797 and $11,487 resulting in an operating loss for the period of $3,390. Basic net loss per share amounting to $.00 for the three (3) and six months ending May 31, 2012.


General and Administrative expenses consisted primarily of filing and professional fees for the three (3) and six months ending May 31, 2012 .


Liquidity and Capital Resources


At May 31, 2012 we had working capital of $29,913 consisting of cash on hand of $30,513 as compared to working capital of $6,900 at November 30, 2011 and cash of $8,900.


Net cash used in operating activities for the six months ended May 31, 2012 was $12,887 as compared to $12,987 for the period from inception on November 22, 2011 through May 31, 2012.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.


Not applicable to a smaller reporting company.


ITEM 4. CONTROLS AND PROCEDURES


Management’s Report On Internal Control Over Financial Reporting


Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, the company’s principal executive and principal financial officers and effected by the company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:


 

·

Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company;


- 11 -



 

·

Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

 

 

 

 

·

Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.


Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.


As of May 31, 2012 management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control--Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and SEC guidance on conducting such assessments. Based on that evaluation, they concluded that, during the period covered by this report, such internal controls and procedures were not effective to detect the inappropriate application of US GAAP rules as more fully described below. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.


The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (2) inadequate segregation of duties consistent with control objectives; and (3) ineffective controls over period end financial disclosure and reporting processes. The aforementioned material weaknesses were identified by our Chief Executive Officer in connection with the review of our financial statements as of May 31, 2012.


Management believes that the material weaknesses set forth in items (2) and (3) 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.


Management’s Remediation Initiatives


In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:


We will create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us. And, we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us.


Management believes that the appointment of one or more outside directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of outside directors on our Board.


We anticipate that these initiatives will be at least partially, if not fully, implemented by May 31, 2013. Additionally, we plan to test our updated controls and remediate our deficiencies by August 30, 2013.


Changes in internal controls over financial reporting


There was no change in our internal controls over financial reporting that occurred during the period covered by this report, which has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.


- 12 -



PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS.


None.


ITEM 1A. RISK FACTORS.


Not applicable to a smaller reporting company.


ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.


None.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES.


None.


ITEM 4.  MINE SAFETY DISCLOSURES.


Not applicable.


ITEM 5.  OTHER INFORMATION.


None.


ITEM 6.  EXHIBITS.


31.1

Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer

 

 

31.2

Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial and accounting officer

 

 

32.1

Section 1350 Certification of principal executive officer and principal financial and accounting officer

 

 

101*

XBRL data files of Financial Statements and Notes contained in this Quarterly Report on Form 10-Q.


* In accordance with Regulation S-T, the Interactive Data Files in Exhibit 101 to the Quarterly Report on Form 10-Q shall be deemed “furnished” and not “filed.”


SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


 

Global Group Enterprises Corp.

 

 

 

 

Date: June 25, 2012

By: /s/ Andrew Keck

 

Andrew Keck

 

President, Secretary, Treasurer,

 

Principal Executive Officer,

 

Principal Financial and Accounting Officer and Sole Director


- 13 -


EX-31 2 ex_31-1.htm RULE 13(A)-14(A)/15(D)-14(A) CERTIFICATION

Exhibit 31.1


RULE 13A-14(A)/15D-14(A) CERTIFICATION


I, Andrew Keck, certify that:


1. I have reviewed this quarterly report on Form 10-Q for the period ended May 31, 2012 of Global Group Enterprises Corp.;


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. The registrant’s other certifying officer(s) and I are 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 15-d-15(f)) for the registrant and have:


a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us 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 our 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 our 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 the 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 an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and


5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the 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.


June 25, 2012

/s/ Andrew Keck

 

Andrew Keck, President

 

Principal Executive Officer



EX-31 3 ex_31-2.htm RULE 13(A)-14(A)/15(D)-14(A) CERTIFICATION

Exhibit 31.2


RULE 13A-14(A)/15D-14(A) CERTIFICATION


I, Andrew Keck, certify that:


1. I have reviewed this quarterly report on Form 10-Q for the period ended May 31, 2012 of Global Group Enterprises Corp.;


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. The registrant’s other certifying officer(s) and I are 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 15-d-15(f)) for the registrant and have:


a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us 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 our 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 our 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 the 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 an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and


5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the 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.


June 25, 2012

/s/ Andrew Keck

 

Andrew Keck, President

 

Principal Financial and Accounting Officer



EX-32 4 ex_32-1.htm SECTION 1350 CERTIFICATION

Exhibit 32.1


SECTION 1350 CERTIFICATION


In connection with the quarterly report of Global Group Enterprises Corp. (the “Company”) on Form 10-Q for the period ended May 31, 2012 as filed with the Securities and Exchange Commission (the “Report”), I, Andrew Keck, President of the Company, certify, pursuant to 18 U.S.C. SS. 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 result of operations of the Company.


June 25, 2012

/s/ Andrew Keck

 

Andrew Keck, President

 

Principal Executive Officer,

 

Principal Financial and Accounting Officer


A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.



EX-101.INS 5 cik1537917-20120531.xml XBRL INSTANCE FILE 11065039 9983607 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 2. GOING CONCERN</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company&#39;s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet emerged from its development stage, as not established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about its ability to continue as a going concern.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management&#39;s plan to obtain such resources for the Company include, obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p> <!--EndFragment--></div> </div> false --11-30 Q2 2012 2012-05-31 10-Q 0001537917 12000000 Smaller Reporting Company GLOBAL GROUP ENTERPRISES CORP. 600 2000 42300 8100 30513 8900 30513 8900 30513 8900 21613 30513 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 7. COMMITMENTS AND CONTINGENCY</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">From time to time the Company may be a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company&#39;s financial position or results of operations.</p> <!--EndFragment--></div> </div> 0.0001 0.0001 250000000 250000000 12000000 9000000 12000000 9000000 12000000 9000000 9000000 1200 900 0.0 0.0 0.001 9937 10127 10227 -10797 -11487 -13587 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 4. INCOME TAXES</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. For the period November 22, 2011 (date of inception) through May 31, 2012, the Company incurred losses, resulting from operating activities, which result in deferred tax assets at the effective statutory rates. The deferred tax asset has been off-set by an equal valuation allowance.</p> <!--EndFragment--></div> </div> -1400 600 600 2000 30513 8900 34500 43500 -12887 -12987 -10797 -11487 -13587 -2100 -690 -10797 -2100 -690 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 1. NATURE OF BUSINESS</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Global Group Enterprises Corp. (the "Company"), a Florida corporation, was formed to produce, market and sell Ultra Premium Vodka product to retailers. The Company was incorporated on November 22, 2011 (Date of Inception) with its corporate headquarters located in Siesta Key, Florida and its year-end is November 30, 2012.</p> <!--EndFragment--></div> </div> 34500 43500 860 1360 3360 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 6. RELATED PARTY TRANSACTIONS</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">On November 22, 2011, the Company sold 9,000,000 shares of common stock to its founder for $0.001 per share.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The officer and director of the Company is or may be involved in other business activities and may, in the future, become involved in other business opportunities that become available. He may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company does not own or lease property. The Company uses temporary office space which is leased from an un-related party.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The above is not necessarily indicative of the amounts that would have been incurred had a comparable transaction been entered into with independent parties.</p> <!--EndFragment--></div> </div> -13587 -2100 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 3. SIGNIFICANT ACCOUNTING POLICIES</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The significant accounting policies followed are:</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">USE OF ESTIMATES</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>BASIS OF PRESENTATION</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for the interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission ("SEC") to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the financial statements of the Company for the period from November 22, 2011 (inception) through November 30, 2011 and notes thereto contained in the information filed as part of the Company&#39;s Registration Statement on Form S-1,</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>FINANCIAL INSTRUMENTS</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company&#39;s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>CASH AND CASH EQUIVALENTS</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">All cash, other than held in escrow, is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Temporary cash investments with an original maturity of three months or less are considered to be cash equivalents.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>DEFERRED INCOME TAXES AND VALUATION ALLOWANCE</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company accounts for income taxes under FASB ASC 740 "Income Taxes." Under the asset and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>NET INCOME (LOSS) PER COMMON SHARE</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Net income (loss) per share is calculated in accordance with FASB ASC 260, "Earnings Per Share." The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at May 31, 2012. As of May 31, 2012, the Company had no dilutive potential common shares.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>REVENUE AND COST RECOGNITION</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>ADVERTISING</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Advertising costs are expensed as incurred. No advertising costs have been incurred as of May 31, 2012.</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>RECENTLY ACCOUNTING PRONOUNCEMENTS</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification&trade; ("ASC") is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company. Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company&#39;s present or future financial statements.</p> <!--EndFragment--></div> </div> 29913 6900 1200 900 900 42300 8100 8100 -13587 -2100 -2790 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 5. SHAREHOLDER&#39;S EQUITY</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px"><em>COMMON STOCK</em></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The authorized common stock of the Company consists of 250,000,000 shares with a par value of $0.0001. The Company issued 9,000,000 shares of our $.0001 par value common stock to Andrew Keck , our CEO and sole Director, on November 22, 2011 for cash in the amount of $9,000 (per share price of $.001)</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">The Company sold 3,000,000 shares of our $.0001 par value common stock to a group of Investors on March 14, 2012 for cash in the amount of $34,500 (per share price of $.0115).</p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">There are no warrants or options outstanding to acquire any additional shares of common stock of the Company.</p> <!--EndFragment--></div> </div> 3000000 9000000 34200 8100 300 900 34500 9000 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 8. SUBSEQUENT EVENTS</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px">Management has evaluated events subsequent through June 8, 2012, which is the date these financial statements were available to be issued, to determine whether they should be disclosed to keep the financial statements from being misleading. Management found no such subsequent events to disclose.</p> <!--EndFragment--></div> </div> xbrli:shares ISO4217:USD ISO4217:USD xbrli:shares 0001537917 us-gaap:RetainedEarningsMember 2012-03-01 2012-05-31 0001537917 us-gaap:AdditionalPaidInCapitalMember 2012-03-01 2012-05-31 0001537917 us-gaap:CommonStockMember 2012-03-01 2012-05-31 0001537917 2012-03-01 2012-05-31 0001537917 2011-12-01 2012-05-31 0001537917 us-gaap:RetainedEarningsMember 2011-12-01 2012-02-29 0001537917 2011-12-01 2012-02-29 0001537917 2011-11-22 2012-05-31 0001537917 us-gaap:RetainedEarningsMember 2011-11-22 2011-11-30 0001537917 us-gaap:AdditionalPaidInCapitalMember 2011-11-22 2011-11-30 0001537917 us-gaap:CommonStockMember 2011-11-22 2011-11-30 0001537917 2011-11-22 2011-11-30 0001537917 us-gaap:RetainedEarningsMember 2012-05-31 0001537917 us-gaap:AdditionalPaidInCapitalMember 2012-05-31 0001537917 us-gaap:CommonStockMember 2012-05-31 0001537917 2012-05-31 0001537917 us-gaap:RetainedEarningsMember 2012-02-29 0001537917 us-gaap:AdditionalPaidInCapitalMember 2012-02-29 0001537917 us-gaap:CommonStockMember 2012-02-29 0001537917 us-gaap:RetainedEarningsMember 2011-11-30 0001537917 us-gaap:AdditionalPaidInCapitalMember 2011-11-30 0001537917 us-gaap:CommonStockMember 2011-11-30 0001537917 2011-11-30 0001537917 us-gaap:RetainedEarningsMember 2011-11-21 0001537917 us-gaap:AdditionalPaidInCapitalMember 2011-11-21 0001537917 us-gaap:CommonStockMember 2011-11-21 0001537917 2011-11-21 EX-101.SCH 6 cik1537917-20120531.xsd XBRL SCHEMA FILE 002 - Statement - Balance Sheets link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 003 - Statement - Balance Sheets (Parenthetical) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 005 - Statement - Statement of Stockholders' Equity (Deficiency) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 107 - Disclosure - COMMITMENTS AND CONTINGENCY link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 001 - Document - Document and Entity Information link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 101 - Disclosure - NATURE OF BUSINESS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 102 - Disclosure - GOING CONCERN link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 104 - Disclosure - INCOME TAXES link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 106 - Disclosure - RELATED PARTY TRANSACTIONS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 105 - Disclosure - SHAREHOLDER'S EQUITY link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 007 - Statement - Statements of Cash Flow link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 004 - Statement - Statements of Operations link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 006 - Statement - Statement of Stockholders' Equity (Deficiency) (Parenthetical) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 108 - Disclosure - SUBSEQUENT EVENTS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 103 - Disclosure - SIGNIFICANT ACCOUNTING POLICIES link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink EX-101.CAL 7 cik1537917-20120531_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 cik1537917-20120531_def.xml XBRL DEFINITION FILE EX-101.LAB 9 cik1537917-20120531_lab.xml XBRL LABEL FILE Amendment Flag Current Fiscal Year End Date Document And Entity Information [Abstract] Document Fiscal Period Focus Document Fiscal Year Focus Document Period End Date Document Type Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Filer Category Entity Registrant Name Accounts Payable and Accrued Liabilities, Current Accounts payable & Accrued liabilities Additional Paid in Capital, Common Stock Additional paid-in capital Assets TOTAL ASSETS Assets [Abstract] ASSETS Assets, Current Total current assets Assets, Current [Abstract] CURRENT ASSETS Cash and Cash Equivalents, at Carrying Value Cash and cash equivalents Common Stock, Value, Issued Capital Stock (Note 4) Authorized: 250,000,000 common shares, $0.0001 par value. Issued and outstanding: 12,000 000 and 9,000,000 common shares at May 31, 2012 and November 30, 2011, respectively. Equity [Abstract] STOCKHOLDERS' EQUITY Liabilities Total liabilities Liabilities and Equity TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities and Equity [Abstract] LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities, Current [Abstract] CURRENT LIABILITIES Retained Earnings (Accumulated Deficit) Deficit accumulated during the development stage Balance Sheets [Abstract] Stockholders' Equity Attributable to Parent Total Stockholders' Equity Common Stock, Par or Stated Value Per Share Common Stock, par value per share Common Stock, Shares Authorized Common Stock, shares authorized Common Stock, Shares, Issued Common Stock, shares issued Common Stock, Shares, Outstanding Common Stock, shares outstanding Basic and diluted weighted average common shares outstanding The average number of shares or units issued and outstanding that are used in calculating basic and diluted EPS. Basic And Diluted Weighted Average Common Shares Outstanding Duration Earnings Per Share [Abstract] PER SHARE DATA: Earnings Per Share, Basic and Diluted Basic and diluted loss per common share General and Administrative Expense General & Administrative Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest Loss Before Income Taxes Statements of Operations [Abstract] Income Tax Expense (Benefit) Provision for Income Taxes Net Loss Operating Expenses [Abstract] EXPENSES Professional Fees Professional Fees Revenues REVENUES CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS AT END OF PERIOD Cash and Cash Equivalents, Period Increase (Decrease) INCREASE IN CASH AND CASH EQUIVALENTS Income Taxes Paid Cash paid for income taxes Increase (Decrease) in Accounts Payable and Accrued Liabilities Increase (decrease) in accounts payable and accrued liabilities Increase (Decrease) in Operating Capital [Abstract] Changes in Operating Assets and Liabilities: Interest Paid Cash paid for interest expense Net Cash Provided by (Used in) Financing Activities Net cash provided by financing activities Net Cash Provided by (Used in) Financing Activities [Abstract] FINANCING ACTIVITIES Net Cash Provided by (Used in) Operating Activities Net cash used in operating activities Net Cash Provided by (Used in) Operating Activities [Abstract] OPERATING ACTIVITIES Proceeds from Issuance of Common Stock Capital Stock issued for cash Statements of Cash Flow [Abstract] Supplemental Cash Flow Information [Abstract] Supplemental Cash Flow Disclosures: NATURE OF BUSINESS [Abstract] Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] NATURE OF BUSINESS SIGNIFICANT ACCOUNTING POLICIES [Abstract] Significant Accounting Policies [Text Block] SIGNIFICANT ACCOUNTING POLICIES INCOME TAXES [Abstract] Income Tax Disclosure [Text Block] INCOME TAXES SHAREHOLDER'S EQUITY [Abstract] Stockholders' Equity Note Disclosure [Text Block] SHAREHOLDER'S EQUITY RELATED PARTY TRANSACTIONS [Abstract] Related Party Transactions Disclosure [Text Block] RELATED PARTY TRANSACTIONS SUBSEQUENT EVENTS [Abstract] Subsequent Events [Text Block] SUBSEQUENT EVENTS Additional Paid-in Capital [Member] Common Stock [Member] Balance, shares Balance, shares Equity Component [Domain] Net Income (Loss) Attributable to Parent Net Loss Retained Earnings [Member] Deficit Accumulated During the Development Stage [Member] Statement, Equity Components [Axis] Statement [Line Items] Statement of Stockholders' Equity (Deficiency) [Abstract] Statement [Table] Balance Balance Stock Issued During Period, Shares, New Issues Common shares issued during period, shares Stock Issued During Period, Value, New Issues Common shares issued during period COMMITMENTS AND CONTINGENCY [Abstract] Commitments and Contingencies Disclosure [Text Block] COMMITMENTS AND CONTINGENCY Going Concern [Abstract] GOING CONCERN The entire disclosure relating to going concern related issues. GOING CONCERN [Abstract] Going Concern Text Block Common stock issued to founder for cash, par value per share at date of issuance Equity Issuance, Amount Per Share Common stock issued to founder for cash, price per share EX-101.PRE 10 cik1537917-20120531_pre.xml XBRL PRESENTATION FILE XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
GOING CONCERN
6 Months Ended
May 31, 2012
GOING CONCERN [Abstract]  
GOING CONCERN

NOTE 2. GOING CONCERN


The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet emerged from its development stage, as not established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about its ability to continue as a going concern.


In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan to obtain such resources for the Company include, obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.


There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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NATURE OF BUSINESS
6 Months Ended
May 31, 2012
NATURE OF BUSINESS [Abstract]  
NATURE OF BUSINESS

NOTE 1. NATURE OF BUSINESS


Global Group Enterprises Corp. (the "Company"), a Florida corporation, was formed to produce, market and sell Ultra Premium Vodka product to retailers. The Company was incorporated on November 22, 2011 (Date of Inception) with its corporate headquarters located in Siesta Key, Florida and its year-end is November 30, 2012.

XML 15 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets (USD $)
May 31, 2012
Nov. 30, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 30,513 $ 8,900
Total current assets 30,513 8,900
TOTAL ASSETS 30,513 8,900
CURRENT LIABILITIES    
Accounts payable & Accrued liabilities 600 2,000
Total liabilities 600 2,000
STOCKHOLDERS' EQUITY    
Capital Stock (Note 4) Authorized: 250,000,000 common shares, $0.0001 par value. Issued and outstanding: 12,000 000 and 9,000,000 common shares at May 31, 2012 and November 30, 2011, respectively. 1,200 900
Additional paid-in capital 42,300 8,100
Deficit accumulated during the development stage (13,587) (2,100)
Total Stockholders' Equity 29,913 6,900
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 30,513 $ 8,900
XML 16 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statement of Stockholders' Equity (Deficiency) (Parenthetical) (USD $)
Nov. 30, 2011
Statement of Stockholders' Equity (Deficiency) [Abstract]  
Common stock issued to founder for cash, price per share $ 0.001
Common stock issued to founder for cash, par value per share at date of issuance $ 0.0001
XML 17 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

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XML 18 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flow (USD $)
6 Months Ended
May 31, 2012
May 31, 2012
OPERATING ACTIVITIES    
Net Loss $ (11,487) $ (13,587)
Changes in Operating Assets and Liabilities:    
Increase (decrease) in accounts payable and accrued liabilities (1,400) 600
Net cash used in operating activities (12,887) (12,987)
FINANCING ACTIVITIES    
Capital Stock issued for cash 34,500 43,500
Net cash provided by financing activities 34,500 43,500
INCREASE IN CASH AND CASH EQUIVALENTS 21,613 30,513
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 8,900   
CASH AND CASH EQUIVALENTS AT END OF PERIOD 30,513 30,513
Supplemental Cash Flow Disclosures:    
Cash paid for interest expense      
Cash paid for income taxes      
XML 19 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets (Parenthetical) (USD $)
May 31, 2012
Nov. 30, 2011
Balance Sheets [Abstract]    
Common Stock, shares authorized 250,000,000 250,000,000
Common Stock, par value per share $ 0.0001 $ 0.0001
Common Stock, shares issued 12,000,000 9,000,000
Common Stock, shares outstanding 12,000,000 9,000,000
XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
6 Months Ended
May 31, 2012
Document And Entity Information [Abstract]  
Document Type 10-Q
Amendment Flag false
Document Period End Date May 31, 2012
Entity Registrant Name GLOBAL GROUP ENTERPRISES CORP.
Entity Central Index Key 0001537917
Current Fiscal Year End Date --11-30
Document Fiscal Period Focus Q2
Document Fiscal Year Focus 2012
Entity Filer Category Smaller Reporting Company
Entity Common Stock, Shares Outstanding 12,000,000
XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Operations (USD $)
3 Months Ended 6 Months Ended
May 31, 2012
May 31, 2012
May 31, 2012
Statements of Operations [Abstract]      
REVENUES         
EXPENSES      
General & Administrative 9,937 10,127 10,227
Professional Fees 860 1,360 3,360
Loss Before Income Taxes (10,797) (11,487) (13,587)
Provision for Income Taxes         
Net Loss $ (10,797) $ (11,487) $ (13,587)
PER SHARE DATA:      
Basic and diluted loss per common share $ 0.0 $ 0.0  
Basic and diluted weighted average common shares outstanding 11,065,039 9,983,607  
XML 22 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
SHAREHOLDER'S EQUITY
6 Months Ended
May 31, 2012
SHAREHOLDER'S EQUITY [Abstract]  
SHAREHOLDER'S EQUITY

NOTE 5. SHAREHOLDER'S EQUITY


COMMON STOCK


The authorized common stock of the Company consists of 250,000,000 shares with a par value of $0.0001. The Company issued 9,000,000 shares of our $.0001 par value common stock to Andrew Keck , our CEO and sole Director, on November 22, 2011 for cash in the amount of $9,000 (per share price of $.001)


The Company sold 3,000,000 shares of our $.0001 par value common stock to a group of Investors on March 14, 2012 for cash in the amount of $34,500 (per share price of $.0115).


There are no warrants or options outstanding to acquire any additional shares of common stock of the Company.

XML 23 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
INCOME TAXES
6 Months Ended
May 31, 2012
INCOME TAXES [Abstract]  
INCOME TAXES

NOTE 4. INCOME TAXES


The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. For the period November 22, 2011 (date of inception) through May 31, 2012, the Company incurred losses, resulting from operating activities, which result in deferred tax assets at the effective statutory rates. The deferred tax asset has been off-set by an equal valuation allowance.

XML 24 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUBSEQUENT EVENTS
6 Months Ended
May 31, 2012
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

NOTE 8. SUBSEQUENT EVENTS


Management has evaluated events subsequent through June 8, 2012, which is the date these financial statements were available to be issued, to determine whether they should be disclosed to keep the financial statements from being misleading. Management found no such subsequent events to disclose.

XML 25 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
RELATED PARTY TRANSACTIONS
6 Months Ended
May 31, 2012
RELATED PARTY TRANSACTIONS [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6. RELATED PARTY TRANSACTIONS


On November 22, 2011, the Company sold 9,000,000 shares of common stock to its founder for $0.001 per share.


The officer and director of the Company is or may be involved in other business activities and may, in the future, become involved in other business opportunities that become available. He may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.


The Company does not own or lease property. The Company uses temporary office space which is leased from an un-related party.


The above is not necessarily indicative of the amounts that would have been incurred had a comparable transaction been entered into with independent parties.

XML 26 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
COMMITMENTS AND CONTINGENCY
6 Months Ended
May 31, 2012
COMMITMENTS AND CONTINGENCY [Abstract]  
COMMITMENTS AND CONTINGENCY

NOTE 7. COMMITMENTS AND CONTINGENCY


From time to time the Company may be a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company's financial position or results of operations.

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Statement of Stockholders' Equity (Deficiency) (USD $)
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Deficit Accumulated During the Development Stage [Member]
Balance at Nov. 21, 2011            
Balance, shares at Nov. 21, 2011         
Common shares issued during period 9,000 900 8,100  
Common shares issued during period, shares   9,000,000    
Net Loss (2,100)     (2,100)
Balance at Nov. 30, 2011 6,900 900 8,100 (2,100)
Balance, shares at Nov. 30, 2011 9,000,000 9,000,000    
Net Loss (690)     (690)
Balance at Feb. 29, 2012   900 8,100 (2,790)
Balance, shares at Feb. 29, 2012   9,000,000    
Common shares issued during period 34,500 300 34,200   
Common shares issued during period, shares   3,000,000    
Net Loss (10,797)     (10,797)
Balance at May. 31, 2012 $ 29,913 $ 1,200 $ 42,300 $ (13,587)
Balance, shares at May. 31, 2012 12,000,000 12,000,000    
XML 29 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
May 31, 2012
SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES

NOTE 3. SIGNIFICANT ACCOUNTING POLICIES


The significant accounting policies followed are:


USE OF ESTIMATES


The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.


Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.


BASIS OF PRESENTATION


The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for the interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission ("SEC") to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the financial statements of the Company for the period from November 22, 2011 (inception) through November 30, 2011 and notes thereto contained in the information filed as part of the Company's Registration Statement on Form S-1,


FINANCIAL INSTRUMENTS


The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.


CASH AND CASH EQUIVALENTS


All cash, other than held in escrow, is maintained with a major financial institution in the United States. Deposits with this bank may exceed the amount of insurance provided on such deposits. Temporary cash investments with an original maturity of three months or less are considered to be cash equivalents.


DEFERRED INCOME TAXES AND VALUATION ALLOWANCE


The Company accounts for income taxes under FASB ASC 740 "Income Taxes." Under the asset and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.


NET INCOME (LOSS) PER COMMON SHARE


Net income (loss) per share is calculated in accordance with FASB ASC 260, "Earnings Per Share." The weighted-average number of common shares outstanding during each period is used to compute basic earning or loss per share. Diluted earnings or loss per share is computed using the weighted average number of shares and diluted potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised.


Basic net income (loss) per common share is based on the weighted average number of shares of common stock outstanding at May 31, 2012. As of May 31, 2012, the Company had no dilutive potential common shares.


REVENUE AND COST RECOGNITION


The Company has no current source of revenue; therefore the Company has not yet adopted any policy regarding the recognition of revenue or cost.


ADVERTISING


Advertising costs are expensed as incurred. No advertising costs have been incurred as of May 31, 2012.


RECENTLY ACCOUNTING PRONOUNCEMENTS


Except for rules and interpretive releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ ("ASC") is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company. Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company's present or future financial statements.

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