-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UBlpmO2p/geep0QqqXRPHChgw9cPuGTawrxd9H3c3gqcVD6ZXq4EBwdV98okXvMp osWPHaWaIq0JTJHsrQNLew== 0001062993-08-001421.txt : 20080401 0001062993-08-001421.hdr.sgml : 20080401 20080401171926 ACCESSION NUMBER: 0001062993-08-001421 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20061231 FILED AS OF DATE: 20080401 DATE AS OF CHANGE: 20080401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOBETECH VENTURES CORP CENTRAL INDEX KEY: 0000947994 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26414 FILM NUMBER: 08730371 BUSINESS ADDRESS: STREET 1: SUITE 1020 STREET 2: 400 BURRARD STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 3A6 BUSINESS PHONE: 604-684-1207 MAIL ADDRESS: STREET 1: SUITE 1020 STREET 2: 400 BURRARD STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 3A6 FORMER COMPANY: FORMER CONFORMED NAME: COLOSSAL RESOURCES CORP DATE OF NAME CHANGE: 19950713 6-K 1 form6k.htm REPORT OF FOREIGN PRIVATE ISSUER Filed by Automated Filing Services Inc. (604) 609-0244 - Globetech Ventures Corp. - Form 6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December, 2006

Commission File Number: 000-26414

GLOBETECH VENTURES CORP.
(Translation of registrant's name into English)

Suite 1130 - 789 West Pender Street
Vancouver, BC Canada V6C 3G2

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

[  x  ] Form 20-F   [     ] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [           ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [           ]

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes [           ] No [ x ]

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _________


 

SUBMITTED HEREWITH

Exhibits

99.1 Interim Consolidated Financial Statements December 31, 2006
     
99.2 Management Discussion and Analysis
     
  99.3 Form 52-109F2 - Certification of Interim Filings - CEO
     
  99.4 Form 52-109F2 - Certification of Interim Filings - CFO

 


SIGNATURES

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

  Globetech Ventures Corp.
  (Registrant)
     
Date: March 31, 2008 By: /s/ Casey Forward
    Casey Forward
     
  Title: President

 


EX-99 2 exhibit99-1.txt INTERIM CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2006 Globetech Ventures Corp. (An exploration stage company) Consolidated Balance Sheets (Unaudited - Canadian Dollars) December 31, 2006 September 30,2006 - ------------------------------------------------------------------------------- ASSETS Current Assets Cash and cash equivalents $245 $283 GST refundable 4,378 3,968 - ------------------------------------------------------------------------------- 4,623 4,251 Equipment (Note 2) 1,394 1,500 MINERAL PROPERTIES (Note 3) 77,731 77,731 - ------------------------------------------------------------------------------- $83,748 $83,482 LIABILITIES Current Liabilities Accounts payable and accrued liabilities (Note 4) $377,852 $307,119 Loans payable (Note 5) 351,675 343,096 - ------------------------------------------------------------------------------- 729,527 650,217 SHAREHOLDERS' EQUITY Capital stock Authorized unlimited common shares of no par value Issued and outstanding (Note 6) 33,824,961 33,824,961 Contributed surplus 3,008,754 3,008,754 Deficit accumulated during exploration stage (37,479,494) (37,400,450) - ------------------------------------------------------------------------------- (645,779) (566,735) - ------------------------------------------------------------------------------- $83,748 $83,482 - ------------------------------------------------------------------------------- Globetech Ventures Corp. (An exploration stage company) Consolidated Statements of Operation and Deficit (Unaudited - Canadian Dollars) For the three months ended December 31 2006 2005 - ------------------------------------------------------------------------------- Administrative expenses Accounting and lega $ 5,715 $ 2,180 Amortization 106 149 Consulting fees 34,962 36,000 Interest and bank charges 8,615 6,422 Management fees 15,000 7,500 Office and miscellaneous 6,000 6,000 Reuglatory and transfer agent 184 1,037 Telephone 250 240 Travel 8,212 - - ------------------------------------------------------------------------------- Net loss for the period (79,044) (59,528) Deficit, beginning of period (37,400,450) (36,893,024) Deficit, end of period $(37,479,494) $(36,952,552) - ------------------------------------------------------------------------------- loss per share $(0.01) $(0.00) Weighted average number of shares Basic and diluted 15,640,751 14,471,939 - ------------------------------------------------------------------------------- Globetech Ventures Corp. (An exploration stage company) Consolidated Statement of Shareholders' Equity (Deficiency) (Unaudited - Canadian Dollars) Number of Common Shares Contributed Deficit Total shares issued and surplus accumulated fully paid and equity during the portion of exploration convertible stage debentures - ------------------------------------------------------------------------------- Balance, December 1991 - $- $- $- $- Issuance of shares for cash Private placement 1,280,001 159,500 - - 159,500 Loss for the period (32,080) (32,080) - ------------------------------------------------------------------------------- Balance, September30, 1992 1,280,001 159,500 - (32,080) 127,420 - ------------------------------------------------------------------------------- Issuance of shares for cash By way of prospectus 600,000 360,000 - - 360,000 Exercise of options 112,000 67,200 - - 67,200 Exercise of warrants 100,000 60,000 - - 60,000 Issuance of shares for property 150,000 90,000 - - 90,000 Share issue costs - (83,205) - - (83,205) Loss for the year - - - (105,902) (105,902) - ------------------------------------------------------------------------------- Balance, September 30, 1993 2,242,001 653,495 - (137,982) 515,513 - ------------------------------------------------------------------------------- Issuance of shares for cash Private placement 400,000 576,000 - - 576,000 Share issue costs - (60,622) - - (60,622) Loss for the year - - - (403,571) (403,571) - ------------------------------------------------------------------------------- Balance, September 30, 1994 2,642,001 1,168,873 - (541,553) 627,320 - ------------------------------------------------------------------------------- Issuance of shares for cash Private placement 418,000 1,121,400 - - 1,121,400 Exercise of options 204,000 347,440 - - 347,440 Issuance of shares for finders fees 35,069 99,570 - - 99,570 Share issue costs - (108,570) - - (108,570) Loss for the year - - - (343,044) (343,044) - ------------------------------------------------------------------------------- Balance, September 30,1995 3,299,070 2,628,713 - (884,597) 1,744,116 - ------------------------------------------------------------------------------- Issuance of shares for cash Private placement 1,488,000 6,178,000 - - 6,178,000 Exercise of options 1,128,584 4,161,930 - - 4,161,930 Issuance of shares for finders fees 75,624 197,379 - - 197,379 Share issue costs - (365,874) - - (365,874) Loss for the year - - - (1,533,474) (1,533,474) - ------------------------------------------------------------------------------- Balance, September 30,1996 5,991,278 12,800,148 - (2,418,071) 10,382,077 - ------------------------------------------------------------------------------- Issuance of shares for cash Exercise of options 243,000 693,730 - - 693,730 Exercise of warrants 845,447 3,696,723 - - 3,696,723 Issuance on conversion of debt 2,464,950 4,821,079 - - 4,821,079 Issuance of common shares for acqusition of subsidiary 171,282 1,124,745 - - 1,124,745 Issuance of shares for finders fee 65,298 457,086 - - 457,086 Share issue costs - (472,562) - - (472,562) Equity portion of convertible debentures - - 169,760 - 169,760 Loss for the year - - - (2,822,786) (2,822,786) - ------------------------------------------------------------------------------- Balance, September 30,1997 9,781,255 23,066,949 169,760 (5,240,857) 17,995,852 - ------------------------------------------------------------------------------- Contingent consideration on acquisition of subsidiary - (1,086,901) - - (1,086,901) Issued on conversion of debt 277,776 261,679 (59,219) - 202,460 - ------------------------------------------------------------------------------- 10,059,031 22,241,727 110,541 (5,240,857) 17,111,411 Captial stock consolidation (7:5:1) (8,717,827) - - - - Issued on conversion of debt 221,234 519,691 (110,541) - 409,150 Issued on settlement of debt 550,000 111,152 - - 111,152 Loss for year - - - (20,236,904) (20,236,904) - ------------------------------------------------------------------------------- Balance, September 30,1998 2,112,438 22,872,570 (110,154)(25,477,761) (2,605,191) - ------------------------------------------------------------------------------- Issued on settlement of debt 1,433,364 1,604,029 - - 1,604,029 Loss for the year - - - (706,147) (706,147) - ------------------------------------------------------------------------------- Balance, September 30,1999 3,545,802 24,476,599 - (26,183,908) (1,707,309) - ------------------------------------------------------------------------------- Issuance of shares for cash Exercise of options 24,100 56,321 - - 56,321 Exercise of warrants 227,273 370,612 - - 370,612 Issued on conversion of debt 1,830,073 1,078,550 - - 1,078,550 Issued on settlement of debt 220,748 489,660 - - 489,660 Subscriptions received in advance 369,875 - - 369,875 Share issue costs - (74,141) - - (74,141) Loss for the year - - - (438,663) (438,663) - ------------------------------------------------------------------------------- Balance, September 30,2000 5,847,996 26,767,476 - (26,622,571) 144,905 - ------------------------------------------------------------------------------- Issuance of shares for cash Private placement 2,000,000 456,840 - - 456,840 Issued for subscription received in advance 227,273 369,875 - - 369,875 Subscription received in advance - (369,875) - - (369,875) Issued on acqusition of equity investment 500,000 192,075 - - 192,075 Issued on settlement of debt 914,670 502,784 - - 502,784 Share issue costs - (45,492) - - (45,492) Loss for the year - - - (1,822,692) (1,822,692) - ------------------------------------------------------------------------------- Balance, September 30,2001 9,489,939 27,873,683 - (28,445,263) (571,580) - ------------------------------------------------------------------------------- Loss for the year - - - (319,713) (319,713) - ------------------------------------------------------------------------------- Balance, September 30,2002 9,489,939 27,873,683 - (28,764,976) (891,293) - ------------------------------------------------------------------------------- Loss for the year - - - (47,171) (47,171) - ------------------------------------------------------------------------------- Balance, September 30,2003 9,489,939 27,873,683 - (28,812,147) (938,464) - ------------------------------------------------------------------------------- Issuance of shares for cash Private placement 1,797,674 1,299,990 - - 1,299,990 Issued on conversion of debt 652,000 432,000 - - 432,000 Acquisition of Brazil Gold Ltda. 2,000,000 4,050,000 - - 4,050,000 Share issue costs - (135,690) - - (135,690) Contributed surplus - - 2,429,100 - 2,429,100 Loss for the year - - - (7,302,024) (7,302,024) - ------------------------------------------------------------------------------ Balance, September 30,2004 13,939,613 33,519,983 2,429,100 (36,114,171) (165,088) - ------------------------------------------------------------------------------- Issuance of shares for cash Private placement August 4, 2004- shares issued due to repricing 302,326 - - - - Acquisition of Gladys Lake option 50,000 18,504 - - 18,504 Issued on conversion of debt 180,000 76,704 - - 76,704 Contributed surplus - - 579,654 - 579,654 Loss for the year - - - (778,853) (778,853) - ------------------------------------------------------------------------------ Balance, September 30,2005 14,471,939 33,615,191 3,008,754 (36,893,024) (269,079) - ------------------------------------------------------------------------------- warrant shares issued 257,812 - - - - Acquisition of Gladys Lake option 50,000 10,500 - - 10,500 Issued on conversion of debt 861,000 199,270 - - 199,270 Loss for the year - - - (507,426) (507,426) - ------------------------------------------------------------------------------ Balance, September 30,2006 15,640,751 33,824,961 3,008,754 (37,400,450) (566,735) - ------------------------------------------------------------------------------- Loss for the yesr - - - (79,044) (79,044) - ------------------------------------------------------------------------------ Balance, December 31,2006 15,640,751$33,824,961$3,008,754 $(37,479,494) $(645,779) - ------------------------------------------------------------------------------- Globetech Ventures Corp. (An exploration stage company) Consolidated Statements of Cash Flows (Unaudited - Canadian Dollars) For the three months ended December 31 2006 2005 - ------------------------------------------------------------------------------- OPERATING ACTIVITIES Net loss for the period $(79,044) $(59,528) Items not involving cash: Amortization 106 149 Change in non-cash working capital GST refundable and other receivables (410) 17,989 Prepaid and deposits - 1,503 Accounts payable and accrued liabilities 70,733 12,528 - ------------------------------------------------------------------------------- Net cash used in operating activities (8,615) (27,359) - ------------------------------------------------------------------------------- FINANCING ACTIVITIES Loans payable 8,577 6,408 - ------------------------------------------------------------------------------- Net cash provided from (used in) financing activities 8,577 6,408 - ------------------------------------------------------------------------------- INVESTING ACTIVITIES Expenditures on mineral properties - (38) - ------------------------------------------------------------------------------- Net cash used in investing activities - (38) - ------------------------------------------------------------------------------- Change in cash and cash equivalents (38) (20,989) Cash and cash equivalents at beginning of period 283 51,085 - ------------------------------------------------------------------------------- Cash and cash equivalents at end of period $245 $30,096 - ------------------------------------------------------------------------------- Globetech Ventures Corp. Notes to Consolidated Financial Statements December 31, 2006 (in Canadian dollars) (unaudited) 1. Nature of Operations and Significant Accounting Policies The Company is incorporated under the laws of British Columbia, Canada, and its principal business activities included the acquiring and developing of mineral properties and the processing of related mineral resources. During the year ended September 30, 1998, the Company determined that it was not feasible to continue its mineral property operations. The Company is currently pursuing and evaluating potential business ventures in the mineral field. These interim consolidated financial statements should be read in conjunction with the audited September 30, 2006 annual financial statements. These interim financial statements follow the same accounting policies and methods of their application as in the September 30, 2006 annual financial statements. These interim consolidated financial statements do not conform in all respects to the requirements of Canadian generally accepted accounting principles for annual financial statements in that they do not include all note disclosures. The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions which affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and expenses for the periods reported. Actual results could differ from those estimates. 2. Equipment For the three months ended December 31, 2006 September 30, 2006 - ------------------------------------------------------------------------------- Cost Accumulated Net book Net book amortization value value - ----------------------------------------------------------------------------- Office equipment $5,222 $4,976 $246 $259 Computer equipment 26,313 25,165 1,148 1,241 - ----------------------------------------------------------------------------- $31,535 $30,141 $1,394 $1,500 - ----------------------------------------------------------------------------- 3. Mineral Properties and Deferred Resource Property Expenditures On February 28, 2005, Globetech announced that it entered into an option agreement whereby the Company can earn a 100% interest in the Gladys Lake porphyry molybdenum property from Mr. John Peter Ross of Whitehorse, Yukon. The Gladys Lake property is situated in northwestern British Columbia approximately 50 km northeast of Atlin and 15 km north of the Adanac molybdenum deposit presently undergoing final engineering studies and permitting. In order to earn a 100% interest, the Company is required to pay a total of $95,000, in ascending payments over a period of four years. The agreement also calls for the issuing of 400,000 shares of Globetech over this same period. The Company has issued a total of 100,000 shares to the vendor. After the four-year period, the Company agrees to pay an annual advance royalty of $25,000 commencing February 28, 2010. On completion of a bankable feasibility, the Company will issue to the vendor a further 400,000 shares of Globetech. The vendor will retain a 3% Net Smelter Return Royalty, 2% of which can be purchased by the Company on a pro-rata basis for the sum of $2,000,000 at any time within five years of commencement of commercial production. An initial down payment of $10,000 was also paid. During 2006, the Company paid $15,000 and issued an additional 50,000 shares. This agreement was in arrears with regard to it's March 21, 2007 payment due, the Company having had 60 days to remedy the default, which it intends to do. The balance of payments and schedule of share issuances is as follows: Date Amount Shares - -------------------------------------------------------------------- March 21, 2007 $15,000 50,000 March 21, 2008 20,000 50,000 March 21, 2009 25,000 100,000 The Company has incurred the following costs on the Gladys Lake property: December 31, 2006 September 30, 2006 - ------------------------------------------------------------------------ Acquisition costs $54,004 $54,004 Exploration costs Report 13,199 13,199 Assessment work 1,789 1,789 Geologist 4,000 4,000 Transportation 4,739 4,739 - ------------------------------------------------------------------------ Total $77,731 $77,731 - ------------------------------------------------------------------------ 4. Related Parties The Company has entered into the following transactions with related parties: For the three months ended For the three months ended December 31, 2006 December 31, 2005 - ----------------------------------------------------------------------------- Management fees to officers of the Company $15,000 $7,500 - ----------------------------------------------------------------------------- Included in accounts payable is $161,920 due to a director. 5. Loans payable December 31, 2006 September 30, 2006 - ----------------------------------------------------------------------------- Loans payable which are unsecured, due on demand and bear interest at 10% per annum $351,675 $343,098 - ------------------------------------------------------------------------------ On January 31, 2007 the Company entered into debt settlement agreements to retire all of the above debt indebtedness plus additional interest of $31,678 for a total of $374,776 by the issuance of 1,873,880 shares at a price of$0.20 per shaer. The fair value of the Company's shares at January 31, 2007 was US$0.26 per share. 6. Share Capital a) Common Shares The authorized share capital of the Company is unlimited without par value. The Company has issued 15,640,751 common shares of which 25,000 shares are held in escrow as at December 31, 2006. b) Stock Options The Company has adopted an incentive stock option plan (the "Plan"). The essential elements of the Plan provide that the aggregate number of shares of the Company's capital stock issuable pursuant to options granted under the Plan may not exceed 5,800,630 shares. Options granted under the Plan may have a maximum term of five (5) years. The exercise price of the options granted under the Plan will not be less than the fair market value of the common stock at the date of grant. The Plan Administrator shall specify the vesting schedule for each stock option granted. The Company is authorized to grant options to directors, employees and consultants. Stock option transactions and the number of stock options outstanding are summarized as follows: Options Outstanding Options Exercisable ------------------------------------------------------------------------- Weighted Weighted Weighted Number average average Number average Range of Outstanding remaining exercise exercisable exercise exercise December 31, contractual price December 31, price prices (USD$) 2006 life (years) (USD$) 2006 (USD$) -------------------------------------------------------------------------- $0.30 - $1.75 600,000 1.1 $0.54 600,000 $0.54 -------------------------------------------------------------------------- c) Warrants At December 31, 2006, the Company had 600,000 (2005 - 2,100,000) common share purchase warrants outstanding to purchase 600,000 common share of the Company. Issue date Warrants outstanding Purchase price Expiry date ---------------------------------------------------------------------- June 30, 2004 300,000 USD$1.00 June 30, 2007 April 23, 2004 300,000 USD$1.00 April 23, 2007 7. Contingencies The Company has made a demand for the return of 2,000,000 shares issued in connection with the Amapa property due to breach of the contract. The Company is of the opinion that the breaches incurred by the defendants occurred before any non-performance of the contract on its part and that it should able to exercise its rights under the contract to repurchase the 2,000,000 shares issued for $100.00. The outcome is not determinable. EX-99 3 exhibit99-2.txt MANAGEMENT DISCUSSION AND ANALYSIS - ------------------------------------------------------------------------------ GLOBETECH VENTURES CORP. Management Discussion and Analysis For the three Months Ended December 31, 2006 - ------------------------------------------------------------------------------ April 17, 2007 The Company Globetech Ventures Corp. ('Globetech' or the 'Company'), a public company listed on the OTC Bulletin Board under the symbol GTVCF, was incorporated under the laws of the Province of British Columbia on November 20, 1991 under the name Universal Enterprises Corp. The Company then changed its name to Colossal Resources Corp. on August 17, 1992 and became a reporting issuer with its shares listed for trading on the Vancouver Stock Exchange under the symbol CLP. On February 24, 1997 the Company voluntarily de-listed its shares from the Vancouver Stock Exchange and its shares were listed for trading on the NASDAQ Small Cap Exchange under the symbol CLPZF on April 3, 1996. On July 28, 1998 the Company's shares were de-listed from the NASDAQ Small Cap Exchange for failing to maintain a bid price of not less than US$1.00 per share. The Company subsequently listed its shares for trading on the OTC Bulletin Board under the symbol CLPZF. On September 20, 2000 the Company changed its name to Globetech Ventures Corp. with a new trading symbol of GTVCF. The Company's head office and principal place of business is located at Suite 901 - 938 Howe Street, Vancouver, BC, V6Z 1N9. Business of the Company Globetech's principal business activities include the acquiring and exploration of mineral properties and the processing of related mineral resources. On February 28, 2005, Globetech entered into an option agreement whereby the Company can earn a 100% interest in the Gladys Lake porphyry molybdenum property from Mr. John Peter Ross of Whitehorse, Yukon. The Gladys Lake property is situated in northwestern British Columbia approximately 50 km northeast of Atlin and 15 km north of the Adanac molybdenum deposit presently undergoing final engineering studies and permitting. In order to earn a 100% interest, the Company is required to pay a total of $95,000, in ascending payments over a period of four years. The agreement also calls for the issuing of 400,000 shares of Globetech over this same period. After the four-year period, the Company agrees to pay an annual advance royalty of $25,000 commencing February 28, 2010. On completion of a bankable feasibility, the Company will issue to the vendor a further 400,000 shares of Globetech. The vendor will retain a 3% Net Smelter Return Royalty, 2% of which can be purchased by the Company on a pro-rata basis for the sum of $2,000,000 at any time within five years of commencement of commercial production. The qualified person as defined by NI 43-101 for this news release is John Kowalchuk, P.Geo. Exploration Manager. The Gladys Lake molybdenite deposit lies about 2 to 3 kilometres south of the west end of Gladys Lake approximately 50 kilometres northeast of the town of Atlin, British Columbia. The deposit received extensive work by Amax Explorations Ltd. in 1970 and 1971 when geological and geochemical surveys, trenching and 726 metres of diamond drilling were completed. The drill results were not documented for assessment work. In 1978, Quest Explorations Ltd. recovered the drill core, logged and assayed the core. The results are shown in the table below. The property is underlain by a sequence of sediments of the Late Paleozoic Cache Creek Group. These rocks are intruded by small bodies of Late Mesozoic alaskite. The alaskite consists of a ring-dyke complex exposed at higher elevations and a probable large stock-like body at depth. Roughly centered about the alaskite is a quartz vein stockwork zone lying within a larger zone of weakly to intensely altered rocks. The alaskite complex has an outer diameter ranging from 500 m (1600 feet) to 700 m (2300 feet). The hornfelsed and altered zones are both roughly centered about the alaskite outcrop. The hornfels measures approximately 3500 m (11,500 feet) and 2000 m (6,600 feet) respectively. The wallrock alteration zone lies within the hornfelsed zone and has an elliptical shape with the long axis being approximately 2500 m (8200 feet) and the short axis being 1500 m (5000 feet). The wallrock alteration zone is characterized by pervasive weak to intense degrees of bleaching and silicification with attendant development of sericite occurring along fractures and disseminated along margins of quartz veins. Quartz veining occurs widespread throughout the alteration zone with sedimentary rocks and alaskite. Veins commonly range from 1/8 in to 3/4 in wide and are relatively continuous and sharp walled. The quartz vein stockwork zone is roughly centered about the alaskite ring dyke complex. Sulphide minerals recognized on the property include pyrite, molybdenite, chalcopyrite and pyrrhotite. Very minor amounts of scheelite and wolframite have been observed Molybdenite occurs as medium grained flakes, books and rosettes along margins of quartz veins within the stockwork zone and in most of the stringer zones. Also fine-grained molybdenite occurs along dry fractures within the stockwork zone. The geochemistry survey completed by AMAX in 1970 produced an anomalous target 1200 m (4000 feet) by 800 m (2700 feet). This soil geochemical anomaly outlines the trace of the main molybdenum mineralization in the quartz stockwork zone. Surface rock sampling from outcrop and trenching gave range from 0.02% to 0.05% MoS2. Core sampling, supervised by R.H. Seraphim, Ph.D., P.Eng. in 1978, gave the following values: Hole 1 220 to 401 181 0.110% MoS2 Hole 2 200 to 586 386 0.089% MoS2 Hole 3 72 to 175 103 0.051% MoS2 332 to 490 158 0.022% MoS2 Hole 4 not sampled Hole 5 520 to 556 36 0.087% MoS2 These drill hole assays are historical data and have not been verified by the Company's qualified person and are not 43-101 compliant. They were obtained from the assessment records held by the Government of British Columbia and the reputation of the Geologist R. H. Seraphim would suggest that it is reliable, however because it was not completed under the rigors of NI 43-101 it must only be viewed as historical data. The Company will be contracting an independent Qualified Person to visit the property and prepare a NI 43-101 report on the project. The Gladys Lake property hosts a molybdenum deposit similar in tenor and size to the Adanac Deposit to the south. The property has an excellent anomalous soil footprint and weakly mineralized surface showings of molybdenite. Limited diamond drilling suggests that the grade of the mineralization is similar to that at Adanac with grades ranging from 0.05 to 0.1% MoS2. Molybdenum is a metallic element which is most frequently used as an alloying addition in stainless steels. It enhances the strength, hardenability, weldability, toughness and corrosion resistance. After more than 20 years of low molybdenum prices, molybdenum has finally come into its own with present prices moving from US$4.00 per pound Mo in 2003 to US$20 per pound Mo to US$30 per pound Mo in early 2005. Much of this price rise is related to increases in markets and shortage of supply. China, which has a huge shortage of supply, has been the major cause of this meteoric rise in price. Regardless of the recent very high prices; low metal stockpiles and extensive international pipeline construction projects are likely to keep long term prices for molybdenum above US$10 per pound Mo. During 2006, the Company paid $15,000 and issued an additional 50,000 shares. This agreement is in arrears with regard to it's March 21, 2007 payments due. The Company had 60 days to remedy the default, which it intends to do. Selected Annual Information The following information is derived from the consolidated financial statements of the Company for each of the three years ended September 30, 2006, 2005 and 2004. Year Ended Year Ended Year Ended September 30,2006 September 30,2005 September 30, 2004 - -------------------------------------------------------------------------- Total Revenues $NIL $NIL $NIL Net income (loss) per share, basic and fully diluted (0.03) (0.05) (0.60) Total Assets 83,482 133,628 309,598 Long Term Liabilities NIL NIL NIL Cash dividends declared NIL NIL NIL Number of securities outstanding 15,640,751 14,471,939 13,939,613 - -------------------------------------------------------------------------- Results of Operations For the quarter ended December 31, 2006, the Company had a net loss of $79,044 compared to a net loss of $59,528 for the previous period ended December 31, 2005. The Company had been more active in looking at projects in the current period. With the increased interest on molybdenum, the Company has decided to focus more attention on the Gladys Lake property and pay less attention to other potential projects at this time. Summary of Quarterly Results Results for the eight most recently completed quarters are summarized as follows: Total Income (loss) Net Income Net income (loss) revenues before other (loss) for per share items the period (basic and diluted) - ------------------------------------------------------------------------------ December 31, 2006 $NIL $(79,044) $(79,044) $(0.01) September 30, 2006 NIL 52,504 51,534 0.01 June 30, 2006 NIL (68,794) (68,794) (0.01) March 31, 2006 NIL (430,638) (430,638) (0.03) December 31, 2005 NIL (59,528) (59,528) (0.00) September 30, 2005 NIL 70,768 68,084 0.01 June 30, 2005 NIL (37,046) (44,531) (0.00) March 31, 2005 NIL (702,610) (702,610) (0.06) Liquidity and Capital Resources At December 31, 2006, the Company had a working capital deficiency of $724,904 as compared to the September 30, 2006 year end deficiency of $645,966. The Company has entered into debt settlement agreements dated January 31, 2007 to issue shares at a price of $0.20 each to retire loans payable. At December 31, 2006 loans payable were estimated to be $351,675. The final settlement at January 31, 2007 was to issue 1,878,883 shares for a total of $374,776. The Company needs to raise additional cash for working capital or other expenses to properly continue operations. We may encounter lower than anticipated opportunities to raise equity funding, higher than anticipated expenses, or opportunities for acquisitions of other business initiatives that require significant cash commitments, or other unanticipated problems or expenses that could result in a requirement for additional capital before that time. If we need to raise additional cash, financing may not be available to us on favorable terms, or at all. We have several share purchase warrants outstanding and we will endeavor to have some of these exercised. Sales and Marketing There are no specific sales and marketing plans currently undertaken. The Company may undertake some public relations campaigns. The Company is currently developing a marketing strategy. Subsequent Events Nil Off-Balance Sheet Arrangements The Company has not entered any off-balance sheet arrangements. Critical Accounting Estimates The preparation of financial statements in conformity with Canadian GAAP requires the Company to select from possible alternative accounting principles, and to make estimates and assumptions that determine the reported amounts of assets and liabilities at the balance sheet date, and reported costs and expenditures during the reporting period. Estimates and assumptions may be revised as new information is obtained, and are subject to change. The Company's accounting policies and estimates used in the preparation of the financial statements are considered appropriate in the circumstances, but are subject to judgments and uncertainties inherent in the financial reporting process. The Company follows accounting guidelines in determining the fair value of stock-based compensation. This calculated amount is not based on historical cost, but is derived based on subjective assumptions input into an option- pricing mode. The model requires that management make several assumptions as to future events: 1) estimate the average future hold period of issued stock options before exercise, expiry or cancellation; 2) future volatility of the Company's share price in the expected hold period (using historical volatility as a reference); 3) and the appropriate risk-free rate of interest. The resulting value calculated is not necessarily the value which the holder of the option could receive in an arm's length transaction, given that there is no market for the options and they are not transferable. It is management's view that the value derived is highly subjective and dependent entirely upon the input assumptions made. Changes in Accounting Policies including Initial Adoption Nil Financial Instruments and Other Instruments The fair values of cash, GST refundable, accounts payable and accrued liabilities and loans payable approximate their carrying values due to the short term or demand nature of these instruments. It is management's opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Multilateral Instrument 52-109 disclosure: Evaluation of disclosure controls and procedures Public companies are required to perform an evaluation of disclosure controls and procedures annually and to disclose management's conclusions about the effectiveness of these disclosure controls and procedures in its annual MD&A. The Company has established, and is maintaining, disclosure controls and procedures to provide reasonable assurance that material information relating to the Company and its consolidated subsidiaries is disclosed in annual filings, interim filings or other reports is recorded, processed, summarized and reported within the time periods specified as required by securities regulations. The Company has designed and implemented internal controls over financial reporting to provide reasonable assurance of the reliability of its financial reporting. Management has evaluated the effectiveness of the Company's disclosure controls and procedures, and internal control over financial reporting, and believes that they are sufficient to provide reasonable assurance that the Company's disclosures are compliant with securities regulations. There have been no changes in internal control over financial reporting that have any material effect in the most recent quarter. Directors and Officers Casey Forward - CEO and director Ping Shen - CFO Dr. Kanwal Sachdeva - Director Dr. Arnold Abramson - Director Ian Bartholomew - Director EX-99 4 exhibit99-3.htm FORM 52-109F2 - CERTIFICATION OF INTERIM FILING Filed by Automated Filing Services Inc. (604) 609-0244 - Globetech Ventures Corp. - Exhibit 99.3

Form 52-109F2
Certification of Interim Filings

I, Casey Forward, acting in the capacity of Chief Executive Officer of Globetech Ventures Corp., certify that:

1.

I have reviewed the interim filings (as this term is defined in Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings) of Globetech Ventures Corp. (the issuer) for the interim period ending December 31, 2006;

   
2.

Based on my knowledge, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings;

   
3.

Based on my knowledge, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the financial condition, results of operations and cash flows of the issuer, as of the date and for the periods presented by the interim filings;

   
4.

The issuer’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures and internal control over financial reporting for the issuer, and we have:


  (a)

designed such disclosure controls and procedures, or caused them to be designed under our supervision, to provide reasonable assurance that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which the interim filings are being prepared;

     
  (b)

designed such internal control over financial reporting, or caused it 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 the issuer’s GAAP; and


5.

I have caused the issuer to disclose in the interim MD&A any change in the issuer’s internal control over financial reporting that occurred during the issuer’s most recent interim period that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting.


Date: April 18, 2007  
   
   
“Casey Forward”  
Casey Forward  
Acting in the capacity of Chief Executive Officer  


EX-99 5 exhibit99-4.htm FORM 52-109F2 - CERTIFICATION OF INTERIM FILING Filed by Automated Filing Services Inc. (604) 609-0244 - Globetech Ventures Corp. - Exhibit 99.4

Form 52-109F2
Certification of Interim Filings

I, Ping Shen, acting in the capacity of Chief Financial Officer of Globetech Ventures Corp., certify that:

1.

I have reviewed the interim filings (as this term is defined in Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings) of Globetech Ventures Corp. (the issuer) for the interim period ending December 31, 2006;

   
2.

Based on my knowledge, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings;

   
3.

Based on my knowledge, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the financial condition, results of operations and cash flows of the issuer, as of the date and for the periods presented by the interim filings;

   
4.

The issuer’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures and internal control over financial reporting for the issuer, and we have:


  (a)

designed such disclosure controls and procedures, or caused them to be designed under our supervision, to provide reasonable assurance that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which the interim filings are being prepared;

     
  (b)

designed such internal control over financial reporting, or caused it 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 the issuer’s GAAP; and


5.

I have caused the issuer to disclose in the interim MD&A any change in the issuer’s internal control over financial reporting that occurred during the issuer’s most recent interim period that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting.


Date: April 18, 2007  
   
   
“Ping Shen”  
Ping Shen  
Acting in the capacity of Chief Financial Officer  


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