10-Q

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANTTO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2014

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

For the Transition Period From_______ to _______

333-179669

Commission file number

NEW GLOBAL ENERGY, INC.

(Exact name of small business issuer as specified in its charter)

Wyoming	45-4349842
(State of incorporation)	(IRS Employer Identification Number)

109 East 17th Street

Suite 4217

Cheyenne, WY 82001

(Address of principal executive office)

(307) 633-9192

(Issuer's telephone number)

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 the filing requirement for at least 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    ¨ No

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x
(Do not check if a 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 ¨ No x

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Common Stock, par value $.0001 per share 13,520,145 outstanding shares as of March 31, 2015.

NEW GLOBAL ENERGY, INC.

Part I - FINANCIAL INFORMATION
Item 1.	Financial Statements-unaudited	3
	Consolidated Balance Sheets as of September 30, 2014 and December 31, 2013	3
	Consolidated Statements of Operations for the Three Months  Ended September 30, 2014, the Three Months ended September 30, 2013, Nine Months Ended September 30, 2014 and Nine Months ended September 30, 2013.	4
	Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2014 and for the Nine Months Ended September 30, 2013.	5
	Notes to Interim Unaudited Financial Statements	6
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	17
Item 4.	Controls and Procedures	17
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings.	18
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	18
Item 3.	Defaults Upon Senior Securities	19
Item 4.	Not Required
Item 5.	Other Information	19
Item 6.	Exhibits	19
Signatures		20

2

ITEM 1. FINANCIAL STATEMENTS

New Global Energy, Inc.

Balance Sheets

	September 30, 2014			December 31, 2013
	(unaudited)
Assets
Current assets
Cash	$	9,757		$	19,076
Interest receivable on short-term notes		27,025			4,060
Total current assets		36,782			23,136
Other assets:
Net Revenue interest		19,560,308			0
Crop lease		33,956,098			0
Equity method investment		964,000			1,156,206
Notes receivable		654,500			214,500
Total Assets	$	55,171,688		$	1,393,842
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable-trade	$	1,000		$	2,000
Accrued expenses		17,415			8,907
Due to related parties		199			199
Derivative liability		738,619			11,886,379
Total current liabilities		757,233			11,897,485
Convertible note payable, net of discount		0			40,911
Total liabilities		757,233			11,938,396
Stockholders' Equity:
Preferred stock		0			0
Common stock-100,000,000 authorized $0.0001 par value 12,608,198 issued & outstanding (2,487,876 in December)		1,261			249
Additional paid-in capital		75,035,257			4,358,486
Accumulated deficit		(20,622,062	)		(14,903,289	)
Total New Global stockholders' equity		54,414,455			(10,544,554	)
Total Liabilities & Stockholders' Equity	$	55,171,688		$	1,393,842

See notes to unaudited interim financial statements.

3

New Global Energy, Inc.

Statements of Operations

(unaudited)

	Three Months Ended Sept. 30, 2014			Three Months Ended Sept. 30, 2013			Nine Months Ended Sept. 30, 2014			Nine Months Ended Sept. 30, 2013
Revenue	$	0		$	0		$	0		$	0
Costs & Expenses:
General & administrative		199,107			43,176			385,444			74,570
Total Operating Costs & Expenses		199,107			43,176			385,444			74,570
Other (Gain) Expense:
Derivative valuation (gain) charge		(370,361	)		1,248,758			1,634,273			5,933,229
Interest expense & amortization of debt discount		315			23,770			4,485,988			121,818
Interest income		(10,185	)		0			(22,965	)		0
Gain on conversion of debt		(199,207	)		0			(956,173	)		0
Net loss attributable to equity method investment		98,580			27,686			192,206			46,592
Total Other Expense		(480,858	)		1,300,214			5,333,329			6,101,639
Income (Loss) from continuing operations before income taxes		281,751			(1,343,390	)		(5,718,773	)		(6,176,209	)
Provision for income taxes		0			0			0			0
Net Income (loss)		281,751			(1,343,390	)		(5,718,773	)		(6,176,209	)
Basic and diluted per share amounts:
Continuing operations	$	0.04		$	(0.54	)	$	(1.23	)	$	(2.86	)
Basic and diluted net loss	$	0.04		$	(0.54	)	$	(1.23	)	$	(2.86	)
Weighted average shares outstanding (basic & diluted)		7,862,817			2,487,876			4,643,290			2,161,400

See notes to unaudited interim financial statements.

4

New Global Energy, Inc.

Statement of Cash Flows

(unaudited)

	Nine Months Ended Sept. 30, 2014			Nine Months Ended Sept. 30, 2013
Cash flows from operating activities:
Net Loss	$	(5,718,773	)	$	(6,176,209	)
Adjustments required to reconcile net loss to cash used in operating activities:
Net loss attributable to equity method investment		192,206			46,592
Derivative valuation charge (gain)		1,634,274			5,933,229
Gain realized upon conversion of debt		(956,173	)		0
Amortization of debt discount		459,089			108,096
Stock issued for services		120,000			0
Derivative based interest charge		4,018,076			0
Changes in operating assets and liabilities:
(Increase) decrease in interest receivable		(22,965	)		(1,223	)
Increase (decrease) in accrued expenses		8,597			(56	)
Cash used by operating activities:		(266,669	)		(89,571	)
Cash flows from investing activities:
Investment in and advance to equity method investee		(440,000	)		(104,500	)
Cash used in investing activities		(440,000	)		(104,500	)
Cash flows from financing activities:
Proceeds from issuance of common stock		547,350			0
Proceeds of convertible note advances		150,000			208,000
Cash generated by financing activities		697,350			208,000
Change in cash		(9,319	)		13,929
Cash-beginning of period		19,076			6,961
Cash-end of period	$	9,757		$	20,890
Cash paid during the period for:
Interest	$	0		$	0
Income taxes	$	0		$	0
Supplemental Cash Flow Disclosure of non-cash activity:
Fair value of common stock issued upon conversion of debt	$	14,046,443		$	2,400,000
Derivative liability eliminated upon debt conversion	$	14,057,284		$	2,381,790
Note principal converted to common stock	$	500,000		$	100,000
Debt discount recorded at issuance of convertible debt and warrants	$	150,000		$	73,000
Fair value of common stock issued upon exercise of warrants	$	2,994,935		$	0
Derivative liability eliminated upon exercise of warrants	$	2,892,825		$	0
Fair value of common stock issued to acquire net revenue interest	$	19,560,308		$	0
Fair value of common stock issued to acquire crop lease	$	33,956,098		$	0

See notes to unaudited interim financial statements.

5

New Global Energy, Inc.

Statement of Stockholders' Equity

(unaudited)

	Common Stock
	Shares		Common Stock		Additional paid-in capital		Accumulated Deficit			Total Equity (Deficit)
Balance at December 31, 2012		1,855,700		186	$	565,493	$	(3,516,397	)	$	(2,950,718	)
Stock issued to acquire non-controlling interest in AFT		232,176		23		1,393,033					1,393,056
Note converted to common stock		400,000		40		2,399,960					2,400,000
Net Loss								(11,386,891	)		(11,386,891	)
Balance at December 31, 2013		2,487,876	$	249	$	4,358,486	$	(14,903,288	)	$	(10,544,554	)
Stock issued upon exercise of warrants		449,117		45		2,994,890					2,994,935
Note converted to common stock		2,000,000		200		14,046,243					14,046,443
Stock issued to acquire net revenue interest in AFT		2,779,455		278		19,560,030					19,560,308
Stock issued to acquire farm lease		4,871,750		487		33,955,610					33,956,098
Stock issued for services		20,000		2		119,998					120,000
Net Loss								(5,718,773	)		(5,718,773	)
Balance at September 30, 2014		12,608,198	$	1,261	$	75,035,257	$	(20,622,061	)	$	54,414,455

See notes to unaudited interim financial statements.

6

NEW GLOBAL ENERGY, INC.

NOTES TO UNAUDITED INTERIM FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

Note 1. Basis of Presentation:

Background

New Global Energy, Inc. (“NGE” or the “Company”) was organized on January 24, 2012. NGE’s executive offices are located in Brevard County, Florida. The Company is focused on the development of its Global Energy Plantation (“GEP”) Platform which combines alternative energy production, sustainable agriculture and aquaculture. It anticipates the use of non-centralized power plants, primarily concentrated solar power (CSP), Jatropha based biofuels and aquaculture operations to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish and shrimp as food products. Management has begun to execute this plan through the purchase of a noncontrolling interest in Aqua Farming Tech (AFT).. The Company is in the process of raising additional equity capital to support the completion of its acquisition and development activities. The Company’s activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has earned no revenue earned since inception, and lacks any operational history. These matters, among others, raise substantial doubt about our ability to continue as a going concern.

While the Company is attempting to commence operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.

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

Basis of Presentation

The Financial Statements presented herein have been prepared by us in accordance with the accounting policies described in our December 31, 2013 audited financial statements included in Form 10-K and should be read in conjunction with the Notes to Financial Statements which appear in that report.

The preparation of these financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on going basis, we evaluate our estimates, including those related intangible assets, income taxes, insurance obligations and contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other resources. Actual results may differ from these estimates under different assumptions or conditions.

In the opinion of management, the information furnished in these interim financial statements reflect all adjustments necessary for a fair statement of the financial position and results of operations and cash flows as of and for the three and nine-month periods ended September 30, 2014 and 2013. All such adjustments are of a normal recurring nature. The financial statements do not include some information and notes necessary to conform with annual reporting requirements.

7

Development Stage

On June 10, 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, which eliminates development stage reporting requirements under FASB ASC 915, as well as amends provisions of existing variable interest entity guidance under ASC 810. Additionally, the ASU indicates that the lack of commencement of principal operations represents a risk and uncertainty and, accordingly, is subject to the disclosure requirements of FASB ASC 275. As a result of the changes, existing development stage entity presentation and disclosure requirements are eliminated. The presentation and disclosure changes to FASB ASC 915 are effective for public entities for annual periods beginning after December 15, 2014, and the revisions to the consolidation standards are effective for annual periods beginning after December 15, 2015. The Company has adopted these provisions and enhanced disclosure of risks and uncertainties as required.

Equity Investment:

The company accounts for its investment in Aqua Farming Tech, Inc. (AFT) using the equity method of accounting. The company initially records an investment in the stock of an investee at cost, and adjusts the carrying amount of the investment to recognize its share of the earnings or losses of the investee after the date of acquisition. The carrying value of New Global’s equity investment in AFT at September 30, 2014 is as follows:

Investment carrying value at December 31, 2013	$	1,156,206
New Global's share of 2014 operating losses		(192,206	)
Total carrying value at September 30, 2014	$	964,000

Recent Accounting Pronouncements

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." The amendments in this ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization's operations and financial results and include disposals of a major geographic area, a major line of business, or a major equity method investment. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. Additionally, the new guidance requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted.

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013002, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

- Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and

- Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension related amounts) instead of directly to income or expense.

The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013002 is not expected to have a material impact on our financial position or results of operations.

The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

8

Note 2. Stockholders' Equity:

Common Stock

We are currently authorized to issue up to 100,000,000 shares of $ 0.0001 par value common stock. All issued shares of common stock are entitled to vote on a 1 share/1 vote basis.

Recent Issuances

Shares issued upon conversion of debt: On February 17, 2014 we issued 417,060 shares upon the conversion of $104,265 in principal due on a portion of a convertible note. On June 19, 2014 the balance of the note was converted into 1,582,940 additional shares. The conversion occurred within the terms of the promissory note. In accordance with accounting guidance over debt extinguishment, the Company followed the general extinguishment model and recorded a gain on extinguishment of debt and the derivative liability in the amount of $510,841 by the elimination of the derivative liability of $14,057,284, elimination of $500,000 in principal offset by the value of the 2,000,000 shares of common stock issued at their fair value at the date of conversion, estimated at $14,046,443 (based upon the weighted average estimated fair market price of $7.02 per share).

Shares issued upon exercise of warrants: On February 25, 2014 we issued 72,000 shares upon the exercise of 72,000 warrants at $1.00 per share resulting proceeds of $72,000. On May 15, 2014 we issued 262,000 shares upon the exercise 262,000 warrants at $1.00 per share resulting in proceeds of $262,000. In July and September, 2014 we issued an additional 115,117 shares upon the exercise 115,117 warrants at $1.00 per share resulting in proceeds of $213,350. In accordance with accounting guidance over debt extinguishment, the Company followed the general extinguishment model and recorded a gain on extinguishment of debt and the derivative liability in the amount of $445,332 by the elimination of the derivative liability of $2,892,824, receipt of $547,350 in proceeds offset by the value of the 449,117 shares of common stock issued at their fair value at the date of conversion, estimated at $2,994,935 (based upon the weighted average estimated fair market price of $6.69 per share).

Shares issued to acquire Net Revenue Interest and Crop Leases: On July 15, 2014 the Company for and in consideration of One Million Two Hundred and Fifty Thousand Forty Three (1,250,043) shares of New Global Energy Inc. common stock, Aquaculture Joint Venture, a Nevada General Partnership, an unrelated third party, assigned a 43.66% Net Revenue Interest in and to the net revenues from the operations of Aqua Farming Tech, Inc. aquaculture operations in Southern California over a period of time Cash allocable to the Net Revenue Interest is calculated and distributed on a quarterly basis within forty five (45) days after the end of each calendar quarter.

On September 5, 2014, For and in consideration of One Million Five Hundred and Twenty-nine Thousand Four Hundred Twelve (1,529,412) shares of New Global Energy Inc. common stock, BioFuel Development Joint Venture, a Nevada General Partnership, and unrelated third party, assigned a Twenty-seven and Thirty-five One Hundredths percent (27.35%) Net Revenue Interest in aquaculture operations of Aqua Farming Tech, Inc., a California corporation as defined in Farm Development Agreement between Aqua Farming Tech, Inc. and XL BioFuels, Inc. dated July 7, 2009, and a Seven and Six Tenths percent (7.6%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California.

On September 9, 2014, For and in consideration of Four Million Eight Hundred and Seventy-one Thousand Seven Hundred Fifty (4,871,750) shares of New Global Energy Inc. common stock, Global Energy Technology Group, Inc., a Nevada corporation, and unrelated third party, assigned a Ninety-one and fifty-six one hundredths percent (91.56%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California.

All shares issued to acquire the Net Revenue Interest and Crop Lease were valued at the market price of the shares on the date of the agreement or $19,560,308 and $33,956,098, respectively.

9

Note 3. Convertible Long-Term Debt:

On July 19, 2013 we issued an unsecured convertible promissory note for $500,000. The note bears interest at 6% and was convertible at $0.25 per share. As of September 30, 2014 the entire principal of $500,000 had been converted to 2,000,000 shares of common stock.

Upon of issuance of the convertible note, the Company bifurcated the embedded conversion feature and recorded an initial derivative liability of $4,168,076 (the estimated fair market value at the date of grant based on the Black-Scholes option pricing model) on the $150,000 of additional principal draws in 2014. $150,000 of the fair value was allocated as debt discount up to the original note principal, and the remainder, $4,018,076 was charged as interest expense at the date of issuance. Upon conversion the entire balance carried as discount, $344,963, was written off to interest expense and resulted in $459,089 in amortization expense for the nine-month period ended September 30, 2014.

For the period ended September 30, 2014 the Company has recognized $8,508 in accrued unpaid interest expense related to the convertible note and has amortized $459,089 of the discount arising from the beneficial conversion feature which has also been recorded as interest expense.

The current and previous convertible debt was issued with an aggregate of 600,000 detachable warrants to purchase the Company’s common stock. Each warrant entitles the holder to purchase one share at prices ranging from $1.00 to $3.00 and they expire at various dates in 2016.The exercise price of these warrants and the conversion rate of the debt is to be adjusted in the event that the Company issues or sells any shares of common stock, options, warrants or any convertible instruments (other than exempted issuances) at an effective price per share which is less than the exercise price of these warrants. Accordingly, in accordance with FASB ASC 815, the Company has accounted for these warrants and embedded conversion feature as derivative liabilities. The aggregate fair value of the derivative liability arising from the warrants and the conversion feature was determined to be $738,619 and $0, respectively, at September 30, 2014.

The Company values its warrant derivatives and simple conversion option derivatives using the Black-Scholes option-pricing model. Assumptions used include:

· risk-free interest rate- 0.15%-0.36%

· warrant life is the remaining contractual life of the warrants,

· expected volatility- 319% to 329%,

· expected dividends-none

· exercise prices as set forth in the agreements,

· common stock price of the underlying share on the valuation date, and

· number of shares to be issued if the instrument is converted

The following table summarizes the derivative liabilities included in the balance sheet:

	Totals			Warrants			Conversion Feature
Fair value at December 31, 2013	$	11,886,379		$	3,542,006		$	8,344,373
Fair value of warrants issued or conversion feature		4,168,076			0			4,168,076
Warrants exercised or embedded conversion feature converted		(16,950,109	)		(2,892,824	)		(14,057,285	)
Adjustment to fair value at September 30th, 2014		1,634,273			89,437			1,544,836
Fair value at September 30, 2014	$	738,619		$	738,619		$	0

10

Note 4. Summarized Financial Data of Aqua Farming Tech, Inc.:

The following table provides the summarized financial data of AFT for the period ended September 30, 2014:

Summarized Statement of Operations of AFT Jan 1, 2014 to September 30, 2014
Sales	$	35,431
Costs related to sales		(228,204	)
Operating & other expenses		(331,107	)
Net loss before taxes	$	(523,879	)
Income taxes		0
Net Loss	$	(523,879	)
New Global share of post-acquisition of loss	$	(192,206	)

The Company also advanced $654,500 to AFT in the form of a series of promissory notes. The notes bear interest at 7% and are due one year from the date of issuance.

Note 5. Fair Value Measurements:

The following table summarizes assets and liabilities measured at fair value on a recurring basis as of September 30, 2014:

	September 30, 2014
Description of assets:	Level 1		Level 2		Level 3		Total
None	$	-	$	-	$	-	$	-
Description of liabilities:
Derivatives	$	-	$	-	$	738,619	$	738,619

Note 6. Subsequent Events:

There were no material subsequent events following the period ended June 30, 2014 and throughout the date of the filing of Form 10-Q/A in addition to those described in the Company’s Form 10-K Amendment No. 3.

11

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

The following discussion and analysis is intended as a review of significant factors affecting our financial condition and results of operations for the periods indicated. The discussion should be read in conjunction with our consolidated financial statements and the notes presented herein. In addition to historical information, the following Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Our actual results could differ significantly from those anticipated in these forward-looking statements as a result of certain factors discussed in this Form 10-Q. 

Overview and Financial Condition

New Global Energy, Inc. (“NGE” or the “Company”) is a sustainable agriculture and aquaculture company organized as a Wyoming corporation on January 24, 2012 with executive offices located in Brevard County, Florida. The Company focuses on the use of advanced technology and farming techniques with the goal of increasing production and decreasing costs. The Company is focused on internal growth and growth through the acquisition of high-growth firms, assets and properties in the Green market space; industry segments include sustainable agriculture, aquaculture, solar, biofuels and carbon credits. Management is targeting growth stage assets, operations and companies that possess proprietary market edge and demonstrate solid opportunity to scale their business. We expect to pursue special opportunities that are anticipated to accelerate shareholder value by consolidating certain tiers of the $5 Trillion per year fragmented Green and Renewable Energy industry.

The first portion of the Company’s development included the development of its Global Energy Plantation (“GEP”) using its Global Cell concept which combines alternative energy (source of usable energy intended to replace fuel sources without the undesired consequences of the replaced fuels) production, sustainable agriculture (practice of farming using principles of ecology, the study of relationships between organisms and their environment) and aquaculture (the farming of aquatic organisms such as fish, crustaceans, molluscs and aquatic plants). It uses non centralized power plants, primarily solar power and aquaculture operations to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish and shrimp as food products.

The Company is focused on internal growth and growth through the acquisition of high-growth firms, assets and properties in the Green market space; industry segments include sustainable agriculture, aquaculture, solar, biofuels and carbon credits. Management is targeting growth stage assets, operations and companies that possess proprietary market edge and demonstrate solid opportunity to scale its business. The Company expects to scale its business through the development of the acquisition of existing farms and through the acquisition of additional farms. The Company believes that it can lower the costs of operations in anticipated acquisition through the construction of the solar generating systems and algae based feeding programs. The Company anticipates that if it is able to improve the metrics associated with the cost of production it will be able to attain a competitive advantage other farms in that market space.

As of May 20, 2013, the Company had completed incremental acquisitions totaling 30.74% of Aqua Farming Tech, Inc. (“AFT”) from unrelated parties. AFT is a California corporation with aquaculture and agriculture operations in the Coachella Valley in Southern California company that operates a large aquaculture operation on two parcels of land totaling 118.9 acres. It includes a large working fish farm/hatchery , 90 masonry tanks, 5 wells, 12 earthen ponds, a newly constructed 221 kW-DC Photovoltaic electric generating system estimated to produce 381,267 kWh annually, a second newly constructed 176.25 kW-DC Photovoltaic System, which is estimated to produce 286,996 kWh annually, a fish processing facility, shop facilities, out buildings, generators and various additional equipment and parts inventory. By the end of the year, the Company had completed additional incremental acquisitions from unrelated parties bringing its total ownership to 36.69%. In July of 2013 the Company, with the issuance of an additional 382,099 shares of New Global common agreed to acquire 764,199 more shares of AFT common, giving us a total of 90.5% of Aqua Farming Tech, Inc. (AFT). The increase in ownership to 90% would have required AFT to be included as a consolidated subsidiary as of that date. However, this acquisition was based upon the ability of AFT to timely deliver audited financial statements. When it became apparent that such statements would not be forthcoming, the Company rescinded the acquisition of the controlling interest in AFT based upon the failure of AFT to produce audited statements by December 31, 3013, leaving the Company with a 36.69% minority interest in AFT at year end. Subsequently, in 2014 we have maintained discussions with an unrelated party that holds approximately 62% of AFT’s shares as we remain interested in completing this purchase, subject to the terms previously negotiated, and subject to the completion of AFT’s audit.

12

Our investment in AFT is treated as an interest in a non-consolidated subsidiary. We have not and do not hold any seats on the Board of Directors of AFT, nor is there any actual management or control of AFT by the Company.

On July 15, 2014 the Company for and in consideration of One Million Two Hundred and Fifty Thousand Forty Three (1,250,043) shares of New Global Energy Inc. common stock, Aquaculture Joint Venture, a Nevada General Partnership, an unrelated third party, assigned a 43.66% Net Revenue Interest in and to the net revenues from the operations of Aqua Farming Tech, Inc. aquaculture operations in Southern California over a period of time Cash allocable to the Net Revenue Interest is calculated and distributed on a quarterly basis within forty five (45) days after the end of each calendar quarter. The value of this transaction was $1,000,034.

On September 5, 2014, For and in consideration of One Million Five Hundred and Twenty-nine Thousand Four Hundred Twelve (1,529,412) shares of New Global Energy Inc. common stock, BioFuel Development Joint Venture, a Nevada General Partnership, and unrelated third party, assigned a Twenty-seven and Thirty-five One Hundredths percent (27.35%) Net Revenue Interest in aquaculture operations of Aqua Farming Tech, Inc., a California corporation as defined in Farm Development Agreement between Aqua Farming Tech, Inc. and XL BioFuels, Inc. dated July 7, 2009, and a Seven and Six Tenths percent (7.6%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California. The value of this transaction was $1,300,002.

On September 9, 2014, For and in consideration of Four Million Eight Hundred and Seventy-one Thousand Seven Hundred Fifty (4,871,750) shares of New Global Energy Inc. common stock, Global Energy Technology Group, Inc, a Nevada corporation, and unrelated third party, assigned a Ninety-one and fifty-six one hundredths percent (91.56%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California. The value of this transaction was $7,307,625.

To address an issue in aquafarming operations, water quality, the Company entered into a Sales and Licensing Agent Representation Agreement and a Master Cooperation Agreement with OriginOil, Inc., a Nevada corporation with offices in Los Angeles, California, covering the use and sale of OriginOil equipment by the Company. The Company has not undertaken any significant activities pursuant to this agreement as of the date of this report nor has the Company obligated itself to any financial expenditures related to this agreement.

Forward-looking statements such as this are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by a forward-looking statement. These risks and uncertainties include, without limitation: (1) the potential acquisitions or mergers may not be consummated in a timely manner, if at all; (2) any merger agreement may be terminated in circumstances that require the Company to pay a termination fee or reimburse certain expenses; (3) the diversion of management's attention from the Company's ongoing business operations; (4) the ability of the Company to retain and hire key personnel; (5) the effect of the announcement of any acquisition or Merger on the Company's business relationships, operating results and business generally; (6) competitive responses to any proposed Merger; and (7) the failure to obtain any requisite approvals to any Merger, such as stockholder approval. The Company expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Results of Operations for the Three Months ended September 30, 2013 compared to September 30, 2014

The Company had revenues for the three month period ended September 30, 2014 of $0.00 equal to revenues of $0.00 for the same period the prior year. Selling, general and administrative expenses for the same three months ended September 30, 2014 were $199,107, up from $43,176 for the same period the prior year. The increases were significantly associated with the Company’s efforts to acquire Aqua Farming Tech, Inc. and other interests.

13

Results of Operations for the Nine Month Periods ended September 30, 2013 and September 30, 2014

The Company had revenues for the nine month period ended September 30, 2014 of $0.00 equal to revenues of $0.00 for the same period the prior year. Selling, general and administrative expenses for the same nine months ended September 30, 2014 were $385,444, up from $74,570 for the same period the prior year. The increases were significantly associated with the Company’s efforts to acquire Aqua Farming Tech, Inc. and other interests.

The Company recognizes interest expense and amortization of debt discount associated with loan transactions which included conversion rights and warrants as described below (see “Financing Activities”) and the derivative liability associated therewith. The Company entered into two loan transactions totaling $200,000 in the year ended December 31, 2012 and a third loan transaction in the original principal amount of $500,000 during the year ended December 31, 2013. All three included conversion rights and warrants. These notes and their provisions resulted in an Interest expense of $3,480,876 for the year ended December 31, 2012 and of $10,914,205 for the year ended December 31, 2013, the increase being attributable to the third note added in the year ended December 31, 2013.

We charge the initial valuation of the conversion feature and warrants by offsetting the carrying value of the note up to the principal. Initial derivative values in excess of note principal are immediately charged to interest expense. Derivative valuation charged to interest expense was $10,909,438 in 2013 and $3,479,235 in 2012. Adding interest accrued during the year, the interest expense for the year ended December 31, 2012 was $3,480,876 and $10,914,205 for the year ended December 31, 2013. The total fair value of derivatives as of September 30, 2014 was $738,619.

On December 31, 2013 we conducted an impairment analysis of the carrying value of equity method investment in AFT. At the time of the analysis the total investment in AFT carried on the balance sheet consisted of the fair value of cash and common stock issued to acquire the 36.69% interest in AFT in the combined amount of $1,463,055 and advances of $214,500 in the form of notes to AFT. The total investment was reduced by the allocable portion of AFT’s 2013 loss of $306,849, bringing the net carrying value of AFT to $1,156,206.

In 2014 and 2015, we issued additional loans to AFT, primarily for working capital. From January 1, 2014 – December 31, 2014, we loaned AFT $589,500 in incremental amounts throughout the year. Similarly, from January 1, 2015 through the date of filing, we have loaned AFT $80,000. The total of all notes issued to AFT, including those issued in 2013, is $884,000 as of the date of this filing. The terms of the additional loans is the same as notes previously issued, 7% interest rate and one year maturity. As payments have become due for the notes issued in 2013 and early 2014, we have extended their maturity by one year.

The derivative and warrant liability at December 31, 2013 was $11,886,370, compared to $3,004,637 at December 31, 2012. The increase by $8,881,742 was due to the issuance of convertible notes and warrants in 2013.

Upon conversion of a note for $100,000 in 2012, the Company eliminated the derivative liability of $580,824 related to the underlying conversion feature and recognized a gain on the conversion of debt and derivative liability of $80,824. Upon conversion of a second note in the amount of $100,000 in 2013, the Company eliminated the derivative liability of $2,381,763 related to that underlying conversion feature and recognized a gain on the conversion of debt and derivative liability of $81,763 as measure by the fair value of the common stock at the date of conversion.

The initial derivative treatment of the convertible notes resulted in values in excess of the note. Therefore the notes were initially fully discounted. In 2013 we recognized $423,000 in initial discount and in 2012 we recognized $127,000 in initial discount. We amortize this discount to interest expense over the term of the notes. Amortization expense for 2013 and 2012 was $139,210 and $101,701, respectively.

Emerging Growth Company:

We qualify as an “emerging growth company” under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period.

The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

14

Liquidity and Capital Resources

	Cash Flows Nine Months Ended
	September 30, 2013			September 30, 2014
Net Cash Used by Operating Activities		(89,571	)	$	(266,669	)
Net Cash Used by Investing Activities		(104,500	)		(440,000	)
Net Cash Generated by financing Activities		208,000			697,350
Cash Ending Balance		9,757			20,890

Net Cash Used by Operating Activities for the Nine Months ended September 30, 2014 was $266,669, up from $89,571 for the same period the prior year, while Net Cash generated by financing activities for the Nine Months ended September 30, 2014 was $697,350, up from $208,000 the same period the prior year.

While the Company is attempting to commence operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.

Off Balance Sheet Arrangements

The Company has no Off Balance Sheet Arrangements.

Financing Activities

The Company is currently pursuing the planning stage of its business plan with limited of cash outlays for operating expenses. Non cash contributions are being made by management and it would expect to continue at this rate of operation for more than 12 months without raising any additional capital. These non cash contributions include administrative services, office space, telephone, computer use and other ordinary and necessary business services involved in company operations. There are no written agreements in place to continue these contributions and the Company believes that it could continue its rate of operations for six months with or without further management contributions. The Company expects to accrue expenses related to these advances during 2014 until such time that they can be repaid.

In June 2012, the Company registered 200,000 Units and the shares and warrants included and underlying them with the US Securities and Exchange Commission, which offering is effective as of the date of this report. Each Unit consists of one share of common stock, one Class A warrant which includes the right to purchase one share of common stock for $5.50 for the period ending one year from date of issue and one Class B warrant with the right to purchase one share of common stock for $5.50 during the period ending three years from date of issue, of New Global Energy, Inc. Both warrants may be redeemed by the Company at $0.10 per warrant if the average mean bid and asked prices per share have been at least $7.50 on each of the 20 consecutive trading days ending on the third day before notice. The offering was a self-underwritten offering, which means that it does not involve the participation of an underwriter or broker. The Company as of this date has sold 5,700 of the units for total proceeds of $28,500.00. Because of the level of interest, the Company elected not to sell further units under this offering.

On January 20, 2012, the Company entered into a loan agreement with Bio-Global Resources, Inc. for the amount of $100,000 due January 20, 2014 with interest at the rate of 2.95% per annum. On September 20, 2012 and November 5, 2012, the full principal of the note was converted into an aggregate of 100,000 common shares. In addition the Lender is received 200,000 warrants to purchase common shares at a price of $1.00 per share until November 12, 2014. Subsequent to the end of the reported period the Lender exercised all of its warrants received under this note.

15

On November 15, 2012, the Company entered into a Second Loan Agreement with Bio-Global Resources, Inc., a private unrelated company in the amount of $100,000 due November 15, 2014 with interest at the rate of 2.50% per annum. During that fiscal year, the Company had drawn down $27,000 of the Loan. Bio-Global Resources, Inc. was entitled to convert any amounts outstanding on the loan after 90 days from November 15, 2012 into the Company’s common stock at the rate of $.25 per share. In addition, to the extent funds are drawn against this Loan Agreement, Bio-Global Resources, Inc. is entitled to 200,000 warrants to purchase common shares at a price of $1.00 per share until November 15, 2014. Subsequent to the reported period the Company drew down the balance of the note and later the Lender converted all of the balance on the note to common shares and exercised the warrants included. In 2012, the Company issued 100,000 shares upon the conversion of the $100,000 note.

In order to provide for additional operations and for the expansion of existing operations, the Company during the reported period, entered into a Loan Agreement with Bio-Global Resources, Inc., a private unrelated company in the amount of $500,000 due July 19, 2015 with interest at the rate of 6.00% per annum. As of 12-31-13, the Company had drawn down $350,000 of the face amount of the Loan. Bio-Global Resources, Inc. is entitled to convert any amounts outstanding on the loan into the Company’s common stock at the rate of $0.25 per share. In addition, to the extent funds are drawn against this Loan Agreement, Bio-Global Resources, Inc. is entitled to 200,000 warrants to purchase common shares at a price of $3.00 per share until July 19, 2018. Subsequent to the reported period, the company drew down the balance of the loan and the lender later converted all of the balance to common shares. In addition the Lender has exercised warrants to purchase 75,000 shares. In 2013, the Company issued 400,000 shares upon the conversion of a note payable of $100,000. At the end of 2013, the net carrying value of the note was $40,911. The net carrying value equals the note balance of $350,000 at the end of 2013 minus the unamortized discount of $309,089. Subsequent to the reporting period, in 2014, the outstanding balance was converted to 2,000,000 shares of common stock.

During the Company’s fiscal quarter ending December 31, 2014 and the fiscal quarter ending March 31, 2015, the Company borrowed an additional $285,500 from Bio-Global Resources, a private unrelated company, for operating capital under three $100,000 Promissory Notes (NP#4, NP#5 and NP#6), which carried interest at the rate of 4% and were due and payable one year from the date of the notes (October 1, 2015, October 15, 2015 and December 1, 2015, respectively). These notes carried no conversion or warrant provisions.

In February 2015, the Company offered to settle $208,000 outstanding under Notes NP#4, NP#5 and NP#6, for 4,160 shares of the Company’s Series A Redeemable Convertible Preferred stock. As of the filing date, this offer remains outstanding.

Contractual Obligations

As of 12-31-13 the Company was obligated on a single convertible promissory note with a face amount of $500,000 and interest at the rate of 6% per annum, for $350,000 drawn as of that date. In 2014 the Company drew down the remaining $150,000 of the face amount of the note and later in 2014 the entire note was converted to common stock.

During the Company’s fiscal quarter ending December 31, 2014 and the fiscal quarter ending March 31, 2015, the Company borrowed an additional $285,500 from Bio-Global Resources, a private unrelated company, for operating capital under three $100,000 Promissory Notes (NP#4, NP#5 and NP#6), which carried interest at the rate of 4% and were due and payable one year from the date of the notes (October 1, 2015, October 15, 2015 and December 1, 2015, respectively). These notes carried no conversion or warrant provisions.

In February 2015, the Company and Bio-Global Resources agreed to settle $208,000 of the outstanding notes under Notes NP#4, NP#5 and NP#6, in exchange for issuing 4,160 shares of the Company’s Series A Redeemable Convertible Preferred stock to Bio-Global Resources.

The Company has been reviewing various real property to utilize in its business plan and has been exploring the use of project finance structures to fund such acquisition and development of business activities. The Company expects to enter into such transaction or transactions during the next 12 months. There are currently no transactions under contract and there is no assurance that the company will be able to complete such transactions.

16

Investing Activities

During the year ended 12-31-13 the Company made several loans, evidenced by promissory notes in the total amount $214,500 to Aqua Farming Tech, Inc. in which it has a 36.69% interest. These notes carried interest payable to the Company at the rate of 7% per annum and were payable one year from the date of the note. These notes have been renewed on a year to year basis.

Subsequently, in 2014 and 2015, we have issued to AFT additional loans primarily for working capital. From January 1, 2014 – December 31, 2014, we loaned AFT $589,500 in incremental amounts throughout the year. Similarly, from January 1, 2015 through the date of filing, we have loaned AFT $80,000. The total of all notes issued to AFT, including those issued in 2013, is $884,000 as of the date of this filing. The terms of the additional loans is the same as notes previously issued, 7% interest rate and one year maturity. As payments have become due for the notes, we have extended their maturity by one year.

Commitments and Capital Expenditures 

The Company had no material commitments for capital expenditures as of June 30, 2014.

Off-Balance Sheet Arrangements

The Company does not have any relationships with entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities, which would have been established for the purpose of facilitating off-balance sheet financial arrangements.

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk

Not required for smaller reporting companies.

ITEM 4. Controls and Procedures

We maintain "disclosure controls and procedures," as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. We conducted an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this Evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our Disclosure Controls were not effective as of the end of the period covered by this report.

The limited size of the company including a limited staff makes it extremely difficult to segregate duties in a way that will allow disclosure controls and procedures to be implemented in an effective way. To the extent that the Company is able to add other executives and professional staff with increased business, it will continue its efforts to create an effective system of disclosure controls and procedures.

a)	The Company lacks the financial infrastructure to account for complex transactions which may result in a greater than normal risk that material errors may occur in the financial statements and not be detected timely.
b)	The Company currently relies upon independent financial reporting consultants for review of critical accounting areas and disclosures and material non-standard transactions.
c)	Lack of sufficient segregation of duties. Specifically, this material weakness is such that management must rely primarily on detective controls and controls could be strengthened by adding preventative controls to properly safeguard company assets.

Changes in Internal Controls

We have also evaluated our internal control for financial reporting and there have been no significant changes in our internal controls or in other factors that could significantly affect those controls subsequent to the date of their last evaluation.

17

PART II - OTHER INFORMATION

ITEM 1. Legal Proceedings

There are no pending legal proceedings. The Company may subject to other legal proceedings that arise in the ordinary course of its business and from prior management activities. Other than as previously disclosed, in the opinion of present management, the aggregate liability, if any, with respect to these other actions will not materially adversely affect our financial position, results of operations or cash flows.

ITEM 1A. Risk Factors

Not required for smaller reporting companies.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

At inception and in connection the organization of the Company issued 1,000,000 shares of restricted common stock to Perry West for $1,000.00 and 750,000 shares of restricted common stock to John Potter $750.00. In November of 2012 the Company issued 100,000 shares of its restricted common stock to Bio-Global Resources, Inc. an unrelated third party company in full satisfaction of amounts under a promissory note dated September 20, 2012.

As of June 9, 2014, holders of the Promissory Note payable by the Company to Bio-Global Resources, Inc. dated June 19, 2013 elected to exercise their conversion rights under the promissory notes for issuance of 2,000,000 common shares.

On July 15, 2014 the Company for and in consideration of One Million Two Hundred and Fifty Thousand Forty Three (1,250,043) shares of New Global Energy Inc. common stock, Aquaculture Joint Venture, a Nevada General Partnership, an unrelated third party, assigned a 43.66% Net Revenue Interest in and to the net revenues from the operations of Aqua Farming Tech, Inc. aquaculture operations in Southern California over a period of time.

On September 5, 2014, For and in consideration of One Million Five Hundred and Twenty-nine Thousand Four Hundred Twelve (1,529,412) shares of New Global Energy Inc. common stock, BioFuel Development Joint Venture, a Nevada General Partnership, and unrelated third party, assigned a Twenty-seven and Thirty-five One Hundredths percent (27.35%) Net Revenue Interest in aquaculture operations of Aqua Farming Tech, Inc., a California corporation as defined in Farm Development Agreement between Aqua Farming Tech, Inc. and XL BioFuels, Inc. dated July 7, 2009, and a Seven and Six Tenths percent (7.6%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California.

On September 9, 2014, For and in consideration of Four Million Eight Hundred and Seventy-one Thousand Seven Hundred Fifty (4,871,750) shares of New Global Energy Inc. common stock, Global Energy Technology Group, Inc, a Nevada corporation, and unrelated third party, assigned a Ninety-one and fifty-six one hundredths percent (91.56%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California.

18

On October 29, 2014 the Company issued and delivered 400,000 shares of restricted common stock to Bio-Global Resources, Inc. in consideration for $400,000 paid in cash, $200,000 for the exercise of 200,000 warrants dated January 25, 2011 and $200,000 for the exercise of 200,000 warrants dated November 15, 2012. These warrants were issued as part of loan transactions on those dates.

In addition, On October 29, 2014, the Company issued 75,000 shares of its restricted common stock to Bio-Global Resources, Inc. in consideration for $225,000 paid in cash for the exercise of warrants dated July 19, 2013. These warrants were issued as part of a loan transaction dated July 19, 2013.

On October 29, 2014, the Company settled payments for public relations and investor relations work including web site design, development and maintenance, production and filming of company videos; review, analysis and production of corporate identity programs and material and public relations assistance, with the issuance of 450,000 or it restricted common shares to Diversified Equities, Inc.

Also during a prior reported period, for the purchase of the 30.74% interest in Aqua Farming Tech, Inc. (“AFT”) from 19 shareholders for a total price of $1,173,060 the Company issued 195,510 shares of common stock of the Company at a value of $6.00 per share. An additional 36,666 shares were issue for the purchase of shares directly from AFT.

ITEM 3. Defaults Upon Senior Securities

None

ITEM 5. Other Information

None

ITEM 6. Exhibits

a) Exhibits

31.1	Section 302 Certification By Chief Executive Officer and Principal Financial Officer
32.1	Section 906 Certification of Principal Executive Officer and Principal Financial Officer

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

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SIGNATURES

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

	NEW GLOBAL ENERGY, INC.
Date: April 7, 2015	By:	/s/ Perry West
		Perry West
		CEO and Director

20

EX-31.1

EXHIBIT 31.1

NEW GLOBAL ENERGY, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

I, Perry West, the Chief Executive Officer and Chief Financial Officer of New Global Energy, Inc. certify that:

1.	I have reviewed this Form 10-Q of New Global Energy, Inc.;
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 small business issuer as of, and for, the periods presented in this report;
4.	The small business issuer'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 15d-15(f)) for the small business issuer 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 small business issuer, 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 small business issuer'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 small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

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

Dated: April 7, 2015	By:	/s/ Perry West
		Perry West
		Chief Executive Officer and Chief Financial Officer

EX-32.1

EXHIBIT 32.1

NEW GLOBAL ENERGY, INC.

CERTIFICATION 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 Quarterly Report of New Global Energy, Inc. (the Company) on Form 10-Q for the period ended September 30, 2014 as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Perry West, Chief Executive Officer and Chief Financial Officer 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 results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to New Global Energy, Inc. and will be retained by New Global Energy, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Dated: April 7, 2015	By:	/s/ Perry West
		Perry West
		Chief Executive Officer and Chief Financial Officer

XML

Convertible Long-term Debt

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 3. Convertible Long-Term Debt:

On July 19, 2013 we issued an unsecured convertible promissory note for $500,000. The note bears interest at 6% and was convertible at $0.25 per share. As of September 30, 2014 the entire principal of $500,000 had been converted to 2,000,000 shares of common stock.

Upon of issuance of the convertible note, the Company bifurcated the embedded conversion feature and recorded an initial derivative liability of $4,168,076 (the estimated fair market value at the date of grant based on the Black-Scholes option pricing model) on the $150,000 of additional principal draws in 2014. $150,000 of the fair value was allocated as debt discount up to the original note principal, and the remainder, $4,018,076 was charged as interest expense at the date of issuance. Upon conversion the entire balance carried as discount, $344,963, was written off to interest expense and resulted in $459,089 in amortization expense for the nine-month period ended September 30, 2014.

For the period ended September 30, 2014 the Company has recognized $8,508 in accrued unpaid interest expense related to the convertible note and has amortized $459,089 of the discount arising from the beneficial conversion feature which has also been recorded as interest expense.

The current and previous convertible debt was issued with an aggregate of 600,000 detachable warrants to purchase the Company’s common stock. Each warrant entitles the holder to purchase one share at prices ranging from $1.00 to $3.00 and they expire at various dates in 2016.The exercise price of these warrants and the conversion rate of the debt is to be adjusted in the event that the Company issues or sells any shares of common stock, options, warrants or any convertible instruments (other than exempted issuances) at an effective price per share which is less than the exercise price of these warrants. Accordingly, in accordance with FASB ASC 815, the Company has accounted for these warrants and embedded conversion feature as derivative liabilities. The aggregate fair value of the derivative liability arising from the warrants and the conversion feature was determined to be $738,619 and $0, respectively, at September 30, 2014.

The Company values its warrant derivatives and simple conversion option derivatives using the Black-Scholes option-pricing model. Assumptions used include:

· risk-free interest rate- 0.15%-.0.36%

· warrant life is the remaining contractual life of the warrants,

· expected volatility-319% to 329%,

· expected dividends-none

· exercise prices as set forth in the agreements,

· common stock price of the underlying share on the valuation date, and

· number of shares to be issued if the instrument is converted

The following table summarizes the derivative liabilities included in the balance sheet:

	Totals			Warrants			Conversion Feature
Fair value at December 31, 2013	$	11,886,379		$	3,542,006		$	8,344,373
Fair value of warrants issued or conversion feature		4,168,076			0			4,168,076
Warrants exercised or embedded conversion feature converted		(16,950,109	)		(2,892,824	)		(14,057,285	)
Adjustment to fair value at September 30th, 2014		1,634,273			89,437			1,544,836
Fair value at September 30, 2014	$	738,619		$	738,619		$	0

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Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 2. Stockholders' Equity

Common Stock

We are currently authorized to issue up to 100,000,000 shares of $ 0.0001 par value common stock. All issued shares of common stock are entitled to vote on a 1 share/1 vote basis.

Recent Issuances

Shares issued upon conversion of debt: On February 17, 2014 we issued 417,060 shares upon the conversion of $104,265 in principal due on a portion of a convertible note. On June 19, 2014 the balance of the note was converted into 1,582,940 additional shares. The conversion occurred within the terms of the promissory note. In accordance with accounting guidance over debt extinguishment, the Company followed the general extinguishment model and recorded a gain on extinguishment of debt and the derivative liability in the amount of $510,841 by the elimination of the derivative liability of $14,057,284, elimination of $500,000 in principal offset by the value of the 2,000,000 shares of common stock issued at their fair value at the date of conversion, estimated at $14,046,443 (based upon the weighted average estimated fair market price of $7.02 per share).

Shares issued upon exercise of warrants: On February 25, 2014 we issued 72,000 shares upon the exercise of 72,000 warrants at $1.00 per share resulting proceeds of $72,000. On May 15, 2014 we issued 262,000 shares upon the exercise 262,000 warrants at $1.00 per share resulting in proceeds of $262,000. In July and September, 2014 we issued an additional 115,117 shares upon the exercise 115,117 warrants at $1.00 per share resulting in proceeds of $213,350. In accordance with accounting guidance over debt extinguishment, the Company followed the general extinguishment model and recorded a gain on extinguishment of debt and the derivative liability in the amount of $445,332 by the elimination of the derivative liability of $2,892,824, receipt of $547,350 in proceeds offset by the value of the 449,117 shares of common stock issued at their fair value at the date of conversion, estimated at $2,994,935 (based upon the weighted average estimated fair market price of $6.69 per share).

Shares issued to acquire Net Revenue Interest and Crop Leases: On July 15, 2014 the Company for and in consideration of One Million Two Hundred and Fifty Thousand Forty Three (1,250,043) shares of New Global Energy Inc. common stock, Aquaculture Joint Venture, a Nevada General Partnership, an unrelated third party, assigned a 43.66% Net Revenue Interest in and to the net revenues from the operations of Aqua Farming Tech, Inc. aquaculture operations in Southern California over a period of time Cash allocable to the Net Revenue Interest is calculated and distributed on a quarterly basis within forty five (45) days after the end of each calendar quarter.

On September 5, 2014, For and in consideration of One Million Five Hundred and Twenty-nine Thousand Four Hundred Twelve (1,529,412) shares of New Global Energy Inc. common stock, BioFuel Development Joint Venture, a Nevada General Partnership, and unrelated third party, assigned a Twenty-seven and Thirty-five One Hundredths percent (27.35%) Net Revenue Interest in aquaculture operations of Aqua Farming Tech, Inc., a California corporation as defined in Farm Development Agreement between Aqua Farming Tech, Inc. and XL BioFuels, Inc. dated July 7, 2009, and a Seven and Six Tenths percent (7.6%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California.

On September 9, 2014, For and in consideration of Four Million Eight Hundred and Seventy-one Thousand Seven Hundred Fifty (4,871,750) shares of New Global Energy Inc. common stock, Global Energy Technology Group, Inc., a Nevada corporation, and unrelated third party, assigned a Ninety-one and fifty-six one hundredths percent (91.56%) interest in and to a Farm and Crop Lease covering to parcels of land (6.1 and 15.92 acres) in the Coachella Valley in Southern California.

All shares issued to acquire the Net Revenue Interest and Crop Lease were valued at the market price of the shares on the date of the agreement or $19,560,308 and $33,956,098, respectively.

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Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash	$ 9,757	$ 19,076
Interest receivable on short-term notes	27,025	4,060
Total current assets	36,782	23,136
Other assets:
Net Revenue interest	19,560,308	0
Crop lease	33,956,098	0
Equity method investment	964,000	1,156,206
Notes receivable	654,500	214,500
Total Assets	55,171,688	1,393,842
Current liabilities:
Accounts payable-trade	1,000	2,000
Accrued expenses	17,415	8,907
Due to related parties	199	199
Derivative liability	738,619	11,886,379
Total current liabilities	757,233	11,897,485
Convertible note payable, net of discount	0	40,911
Total liabilities	757,233	11,938,396
Stockholders' Equity:
Preferred stock	0	0
Common stock-100,000,000 authorized $0.0001 par value 12,608,198 issued & outstanding (2,487,876 in December)	1,261	249
Additional paid-in capital	75,035,257	4,358,486
Accumulated deficit	(20,622,062)	(14,903,289)
Total New Global stockholders' equity	54,414,455	(10,544,554)
Total Liabilities & Stockholders' Equity	$ 55,171,688	$ 1,393,842

XML

Statement of Stockholders' Equity (Unaudited) (USD $)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Amount at Dec. 31, 2012	$ 186	$ 565,493	$ (3,516,397)	$ (2,950,718)
Beginning Balance, Shares at Dec. 31, 2012	1,855,700
Stock issued to acquire non-controlling interest in AFT, Shares	232,176
Stock issued to acquire non-controlling interest in AFT, Amount	23	1,393,033		1,393,056
Note converted to common stock, Shares	400,000
Note converted to common stock, Amount	40	2,399,960		2,400,000
Net Loss			(11,386,891)	(11,386,891)
Ending Balance, Amount at Dec. 31, 2013	249	4,358,486	(14,903,288)	(10,544,554)
Ending Balance, Shares at Dec. 31, 2013	2,487,876
Note converted to common stock, Shares	2,000,000
Note converted to common stock, Amount	200	14,046,243		14,046,443
Stock issued upon exercise of warrants, Shares	449,117
Stock issued upon exercise of warrants, Amount	45	2,994,890		2,994,935
Stock issued to acquire net revenue interest in AFT, Shares	2,779,455
Stock issued to acquire net revenue interest in AFT, Amount	278	19,560,030		19,560,308
Stock issued to acquire farm lease, Shares	4,871,750
Stock issued to acquire farm lease, Amount	487	33,955,610		33,956,098
Stock issued for services, Shares	20,000
Stock issued for services, Amount	2	119,998		120,000
Net Loss			(5,718,773)	(5,718,773)
Ending Balance, Amount at Sep. 30, 2014	$ 1,261	$ 75,035,257	$ (20,622,061)	$ 54,414,455
Ending Balance, Shares at Sep. 30, 2014	12,608,198

XML

Summarized Financial Data of Aqua Farming Tech, Inc. (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Summarized Financial Data Of Aqua Farming Tech Inc. Details
Sales	$ 35,431
Costs related to sales	(228,204)
Operating & other expenses	(331,107)
Net loss before taxes	(523,879)
Income taxes	0	0
Net Loss	(523,879)
New Global share of post-acquisition of loss	$ (192,206)

XML

Basis of Presentation

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 1. Basis of Presentation:

Background

New Global Energy, Inc. (“NGE” or the “Company”) was organized on January 24, 2012. NGE’s executive offices are located in Brevard County, Florida. The Company is focused on the development of its Global Energy Plantation (“GEP”) Platform which combines alternative energy production, sustainable agriculture and aquaculture. It anticipates the use of non-centralized power plants, primarily concentrated solar power (CSP), Jatropha based biofuels and aquaculture operations to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish and shrimp as food products. Management has begun to execute this plan through the purchase of a noncontrolling interest in Aqua Farming Tech (AFT).. The Company is in the process of raising additional equity capital to support the completion of its acquisition and development activities. The Company’s activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has earned no revenue earned since inception, and lacks any operational history. These matters, among others, raise substantial doubt about our ability to continue as a going concern.

While the Company is attempting to commence operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.

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

Basis of Presentation

The Financial Statements presented herein have been prepared by us in accordance with the accounting policies described in our December 31, 2013 audited financial statements included in Form 10-K and should be read in conjunction with the Notes to Financial Statements which appear in that report.

The preparation of these financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on going basis, we evaluate our estimates, including those related intangible assets, income taxes, insurance obligations and contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other resources. Actual results may differ from these estimates under different assumptions or conditions.

In the opinion of management, the information furnished in these interim financial statements reflect all adjustments necessary for a fair statement of the financial position and results of operations and cash flows as of and for the three and nine-month periods ended September 30, 2014 and 2013. All such adjustments are of a normal recurring nature. The financial statements do not include some information and notes necessary to conform with annual reporting requirements.

Development Stage

On June 10, 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, which eliminates development stage reporting requirements under FASB ASC 915, as well as amends provisions of existing variable interest entity guidance under ASC 810. Additionally, the ASU indicates that the lack of commencement of principal operations represents a risk and uncertainty and, accordingly, is subject to the disclosure requirements of FASB ASC 275. As a result of the changes, existing development stage entity presentation and disclosure requirements are eliminated. The presentation and disclosure changes to FASB ASC 915 are effective for public entities for annual periods beginning after December 15, 2014, and the revisions to the consolidation standards are effective for annual periods beginning after December 15, 2015. The Company has adopted these provisions and enhanced disclosure of risks and uncertainties as required.

Equity Investment:

The company accounts for its investment in Aqua Farming Tech, Inc. (AFT) using the equity method of accounting. The company initially records an investment in the stock of an investee at cost, and adjusts the carrying amount of the investment to recognize its share of the earnings or losses of the investee after the date of acquisition. The carrying value of New Global’s equity investment in AFT at September 30, 2014 is as follows:

Investment carrying value at December 31, 2013	$	1,156,206
New Global's share of 2014 operating losses		(192,206	)
Total carrying value at September 30, 2014	$	964,000

Recent Accounting Pronouncements

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." The amendments in this ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization's operations and financial results and include disposals of a major geographic area, a major line of business, or a major equity method investment. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. Additionally, the new guidance requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted.

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013002, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

- Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and

- Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension0related amounts) instead of directly to income or expense.

The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013002 is not expected to have a material impact on our financial position or results of operations.

The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Stockholders' Equity:
CommonStock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	12,608,198	2,487,876
Common Stock, Shares Outstanding	12,608,198	2,487,876

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements Tables

Summarizes assets and liabilities measured at fair value

The following table summarizes assets and liabilities measured at fair value on a recurring basis as of September 30, 2014:

	September 30, 2014
Description of assets:	Level 1		Level 2		Level 3		Total
None	$	-	$	-	$	-	$	-
Description of liabilities:
Derivatives	$	-	$	-	$	738,619	$	738,619

XML

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Mar. 31, 2015
Document And Entity Information
Entity Registrant Name	NEW GLOBAL ENERGY, INC.
Entity Central Index Key	0001543083
Document Type	10-Q
Document Period End Date	Sep. 30, 2014
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 Common Stock, Shares Outstanding		13,520,145
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2014

XML

Basis of Presentation (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Basis Of Presentation Details
Investment carrying value at December 31, 2013	$ 1,156,206
New Global's share of 2014 operating losses	(192,206)
Total carrying value at September 30, 2014	$ 964,000

XML

Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statements Of Operations
Revenue	$ 0	$ 0	$ 0	$ 0
Costs & Expenses:
General & administrative	199,107	43,176	385,444	74,570
Total Operating Costs & Expenses	199,107	43,176	385,444	74,570
Other (Gain) Expense:
Derivative valuation (gain) charge	(370,361)	1,248,758	1,634,274	5,933,229
Interest expense & amortization of debt discount	315	23,770	4,485,988	121,818
Interest income	(10,185)	0	(22,965)	0
Gain on conversion of debt	(199,207)	0	(956,173)	0
Net loss attributable to equity method investment	98,580	27,686	192,206	46,592
Total Other Expense	(480,858)	1,300,214	5,333,329	6,101,639
Income (Loss) from continuing operations before income taxes	281,751	(1,343,390)	(5,718,773)	(6,176,209)
Provision for income taxes	0	0	0	0
Net Income (loss)	$ 281,751	$ (1,343,390)	$ (5,718,773)	$ (6,176,209)
Basic and diluted per share amounts:
Continuing operations	$ 0.04	$ (0.54)	$ (1.23)	$ (2.86)
Basic and diluted net loss	$ 0.04	$ (0.54)	$ (1.23)	$ (2.86)
Weighted average shares outstanding (basic & diluted)	7,862,817	2,487,876	4,643,290	2,161,400

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Subsequent Events

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 6. Subsequent Events:

There were no material subsequent events following the period ended June 30, 2014 and throughout the date of the filing of Form 10-Q/A in addition to those described in the Company’s Form 10-K Amendment No. 3.

XML

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 5. Fair Value Measurements

The following table summarizes assets and liabilities measured at fair value on a recurring basis as of September 30, 2014:

	September 30, 2014
Description of assets:	Level 1		Level 2		Level 3		Total
None	$	-	$	-	$	-	$	-
Description of liabilities:
Derivatives	$	-	$	-	$	738,619	$	738,619

XML

Fair Value Measurements (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Fair value of derivative assets
Fair value of derivative liability	738,619	11,886,379
Level 1 [Member]
Fair value of derivative assets
Fair value of derivative liability
Level 2 [Member]
Fair value of derivative assets
Fair value of derivative liability
Level 3 [Member]
Fair value of derivative assets
Fair value of derivative liability	$ 738,619

XML

Stockholders' Equity (Details Narrative) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Stockholders Equity Details Narrative
CommonStock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000

XML

Convertible Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2014

Convertible Long-Term Debt Tables

Summarizes the derivative liabilities

The following table summarizes the derivative liabilities included in the balance sheet:

	Totals			Warrants			Conversion Feature
Fair value at December 31, 2013	$	11,886,379		$	3,542,006		$	8,344,373
Fair value of warrants issued or conversion feature		4,168,076			0			4,168,076
Warrants exercised or embedded conversion feature converted		(16,950,109	)		(2,892,824	)		(14,057,285	)
Adjustment to fair value at September 30th, 2014		1,634,273			89,437			1,544,836
Fair value at September 30, 2014	$	738,619		$	738,619		$	0

XML

Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2014

Basis Of Presentation Policies

Background

New Global Energy, Inc. (“NGE” or the “Company”) was organized on January 24, 2012. NGE’s executive offices are located in Brevard County, Florida. The Company is focused on the development of its Global Energy Plantation (“GEP”) Platform which combines alternative energy production, sustainable agriculture and aquaculture. It anticipates the use of non-centralized power plants, primarily concentrated solar power (CSP), Jatropha based biofuels and aquaculture operations to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish and shrimp as food products. Management has begun to execute this plan through the purchase of a noncontrolling interest in Aqua Farming Tech (AFT).. The Company is in the process of raising additional equity capital to support the completion of its acquisition and development activities. The Company’s activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has earned no revenue earned since inception, and lacks any operational history. These matters, among others, raise substantial doubt about our ability to continue as a going concern.

While the Company is attempting to commence operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues.

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

Basis of Presentation

The Financial Statements presented herein have been prepared by us in accordance with the accounting policies described in our December 31, 2013 audited financial statements included in Form 10-K and should be read in conjunction with the Notes to Financial Statements which appear in that report.

The preparation of these financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on going basis, we evaluate our estimates, including those related intangible assets, income taxes, insurance obligations and contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other resources. Actual results may differ from these estimates under different assumptions or conditions.

In the opinion of management, the information furnished in these interim financial statements reflect all adjustments necessary for a fair statement of the financial position and results of operations and cash flows as of and for the three and nine-month periods ended September 30, 2014 and 2013. All such adjustments are of a normal recurring nature. The financial statements do not include some information and notes necessary to conform with annual reporting requirements.

Development Stage

On June 10, 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, which eliminates development stage reporting requirements under FASB ASC 915, as well as amends provisions of existing variable interest entity guidance under ASC 810. Additionally, the ASU indicates that the lack of commencement of principal operations represents a risk and uncertainty and, accordingly, is subject to the disclosure requirements of FASB ASC 275. As a result of the changes, existing development stage entity presentation and disclosure requirements are eliminated. The presentation and disclosure changes to FASB ASC 915 are effective for public entities for annual periods beginning after December 15, 2014, and the revisions to the consolidation standards are effective for annual periods beginning after December 15, 2015. The Company has adopted these provisions and enhanced disclosure of risks and uncertainties as required.

Equity Investment

The company accounts for its investment in Aqua Farming Tech, Inc. (AFT) using the equity method of accounting. The company initially records an investment in the stock of an investee at cost, and adjusts the carrying amount of the investment to recognize its share of the earnings or losses of the investee after the date of acquisition. The carrying value of New Global’s equity investment in AFT at September 30, 2014 is as follows:

Investment carrying value at December 31, 2013	$	1,156,206
New Global's share of 2014 operating losses		(192,206	)
Total carrying value at September 30, 2014	$	964,000

Recent Accounting Pronouncements

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." The amendments in this ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization's operations and financial results and include disposals of a major geographic area, a major line of business, or a major equity method investment. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. Additionally, the new guidance requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted.

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013002, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

- Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and

- Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension0related amounts) instead of directly to income or expense.

The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013002 is not expected to have a material impact on our financial position or results of operations.

The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2014

Basis Of Presentation Tables

Equity investment

The carrying value of New Global’s equity investment in AFT at September 30, 2014 is as follows:

Investment carrying value at December 31, 2013	$	1,156,206
New Global's share of 2014 operating losses		(192,206	)
Total carrying value at September 30, 2014	$	964,000

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Summarized Financial Data of Aqua Farming Tech, Inc. (Tables)

9 Months Ended

Sep. 30, 2014

Summarized Financial Data Of Aqua Farming Tech Inc. Tables

Summary Financial Data for Aqua Farming Tech, Inc. (AFT)

The following table provides the summarized financial data of AFT for the period ended September 30, 2014:

Summarized Statement of Operations of AFT Jan 1, 2014 to September 30, 2014
Sales	$	35,431
Costs related to sales		(228,204	)
Operating & other expenses		(331,107	)
Net loss before taxes	$	(523,879	)
Income taxes		0
Net Loss	$	(523,879	)
New Global share of post-acquisition of loss	$	(192,206	)

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Convertible Long-Term Debt (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2014
Convertible promissory note	$ 500,000
Convertible promissory note of common stock	2,000,000
Convertible notes payable	150,000
Written off to interest expense	344,963
Accrued unpaid interest expense related to the convertible notes	8,508
Amortization interest expense	459,089
Warrants [Member]
Derivative liability	738,619
Conversion Feature [Member]
Derivative liability	$ 0

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Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net Loss	$ (5,718,773)	$ (6,176,209)
Adjustments required to reconcile net loss to cash used in operating activities:
Net loss attributable to equity method investment	192,206	46,592
Derivative valuation charge (gain)	1,634,274	5,933,229
Gain realized upon conversion of debt	(956,173)	0
Amortization of debt discount	459,089	108,096
Stock issued for services	120,000	0
Derivative based interest charge	4,018,076	0
Changes in operating assets and liabilities:
(Increase) decrease in interest receivable	(22,965)	(1,223)
Increase (decrease) in accrued expenses	8,597	(56)
Cash used by operating activities:	(266,669)	(89,571)
Cash flows from investing activities:
Investment in and advance to equity method investee	(440,000)	(104,500)
Cash used in investing activities	(440,000)	(104,500)
Cash flows from financing activities:
Proceeds from issuance of common stock	547,350	0
Proceeds of convertible note advances	150,000	208,000
Cash generated by financing activities	697,350	208,000
Change in cash	(9,319)	13,929
Cash-beginning of period	19,076	6,961
Cash-end of period	9,757	20,890
Cash paid during the period for:
Interest	0	0
Income taxes	0	0
Supplemental Cash Flow Disclosure of non-cash activity:
Fair value of common stock issued upon conversion of debt	14,046,443	2,400,000
Derivative liability eliminated upon debt conversion	14,057,284	2,381,790
Note principal converted to common stock	500,000	100,000
Debt discount recorded at issuance of convertible debt and warrants	150,000	73,000
Fair value of common stock issued upon exercise of warrants	2,994,935	0
Derivative liability eliminated upon exercise of warrants	2,892,825	0
Fair value of common stock issued to acquire net revenue interest	19,560,308	0
Fair value of common stock issued to acquire crop lease	$ 33,956,098	$ 0

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Summarized Financial Data of Aqua Farming Tech, Inc.

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Note 4. Summarized Financial Data of Aqua Farming Tech, Inc.

The following table provides the summarized financial data of AFT for the period ended September 30, 2014:

Summarized Statement of Operations of AFT Jan 1, 2014 to September 30, 2014
Sales	$	35,431
Costs related to sales		(228,204	)
Operating & other expenses		(331,107	)
Net loss before taxes	$	(523,879	)
Income taxes		0
Net Loss	$	(523,879	)
New Global share of post-acquisition of loss	$	(192,206	)

The Company also advanced $654,500 to AFT in the form of a series of promissory notes. The notes bear interest at 7% and are due one year from the date of issuance.

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Convertible Long-Term Debt (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Beginning Fair value of warrants issued or conversion feature	$ 11,886,379
Fair value of warrants issued or conversion feature	4,168,076
Warrants exercised or embedded conversion feature converted	(16,950,109)
Adjustment to fair value at September 30th, 2014	1,634,273
Ending Fair value of warrants issued or conversion feature	738,619
Warrants [Member]
Beginning Fair value of warrants issued or conversion feature	3,542,006
Fair value of warrants issued or conversion feature	0
Warrants exercised or embedded conversion feature converted	(2,892,824)
Adjustment to fair value at September 30th, 2014	89,437
Ending Fair value of warrants issued or conversion feature	738,619
Conversion Feature [Member]
Beginning Fair value of warrants issued or conversion feature	8,344,373
Fair value of warrants issued or conversion feature	4,168,076
Warrants exercised or embedded conversion feature converted	(14,057,285)
Adjustment to fair value at September 30th, 2014	1,544,836
Ending Fair value of warrants issued or conversion feature	$ 0