X0202 4 2005-03-31 0 0000810932 GLOBALNET CORP GLBTE.OB 0001264159 GROWTH ENTERPRISE FUND SA SEA ORCHARD ELMS AVE POOLE DORSETT-XO UK X0 BH14 8EE UNITED KINGDOM 0 0 1 0 Common Stock 2005-03-31 4 J 0 33750000 0 D 2341187517 D Common Stock 2005-03-31 4 J 0 33250000 0 D 2307937517 D Common Stock 2005-03-31 4 J 0 4000000 0 D 2303937517 D Common Stock 2005-04-30 4 S 0 1379875000 0 D 924062517 D Common Stock 2005-04-30 4 S 0 84750000 0 D 839312517 D Effective 3/31/2005 Reporting Person (GEF) caused the transfer by GlobalNet Partners LLC of shares previously reported as owned by GEF to certain persons as a distribution of their ownership interests in such shares as members of Partners. On 4/30/2005 GEF entered into an Agreement with Issuer and Ocean Advisors, LLC (Ocean) under which Ocean sold 1,397,875,000 shares of Issuer's common stock owned by it, and caused Partners to sell 84,750,000 such shares owned by it to Ocean for $35,000. The purchase price was paid by delivery of a Promissory Note in such aggregate amount, due and payable on September 30, 2005. David Phipps 2005-06-17