UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, ~~D.C.~~DC ~~20509~~20549

FORM 8-K

CURRENT REPORT PURSUANT

~~Pursuant~~TO toSECTION ~~Section~~ 13 orOR 15(dD) ofOF ~~the Securities Exchange Act of 1934~~THE

~~September~~SECURITIES ~~22,~~EXCHANGE ~~2009~~ACT OF 1934

Date of ~~Report~~report (Date of earliest event reported): August 13, 2010

(Date of Earliest Event Reported)

GLOBAL WATER ASSET CORPORATION

(Exact Name of Registrant as Specified in ~~its~~Its Charter)

UTAH	20-0919460
(State or Other Jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Utah

P.(State O.or ~~Box~~Other ~~304~~Jurisdiction of Incorporation)

Pointe Claire, Quebec


000-51075	20-0919460
(Commission File Number)	(IRS Employer Identification No.)

1170, Place du Frere-Andre, 2 e etage Montreal, Quebec, H3B 3C6 Canada
(Address of Principal Executive Offices)

~~Canada H9R 4P3~~514-518-0614

(~~Address~~Registrant’s ofTelephone ~~Principal~~Number, ~~Executive~~Including ~~Offices~~Area Code)

~~(514)~~P.O. ~~518-0164~~Box 3011, Point Claire, Quebec, Canada H9R 4P3

~~Registrant's~~(Former ~~Telephone~~Name ~~Number~~or Former Address, if Changed Since Last Report)

~~Waterbank~~Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of ~~America~~the registrant under any of the following provisions (~~USA),~~see ~~Inc~~General Instruction A.2. below):

Espirito Santo Plaza

1395 Brickell Avenue, Suite 1020

Miami, Florida 33131

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~<PAGE>~~Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

~~Item~~Effective 3August 12, 2010, the sole director of the registrant appointed Andre Rochette and Shelley Goff as directors of the registrant.~~02 Unregistered~~ As ~~Sales~~a result, the current Board of ~~Equity~~Directors ~~Securities~~of the registrant is comprised of Michel Pelletier, Andre Rochette and Shelley Goff.

InThe ~~accordance~~current ~~with~~officers ~~the matters discussed in Item 5.03 below and the Revised Definitive Information Statement filed with the Securities and Exchange Commission (the “Commission”) on July 30, 2009, Waterbank~~ of ~~America (USA) Inc., a Utah corporation (~~the “Company~~”),~~ ~~issued a total of 377,780 post-split shares of its common stock to the following three stockholders (the “Holders”), in the amounts indicated opposite each recipient’s name~~are:

~~Holder~~Michel Pelletier- Chief Executive Officer/President

~~No.~~Andre ofRochette ~~Shares~~– Secretary/Treasurer and Chief Financial Officer.

~~Forstar~~Item ~~Capital~~8.01 ~~Advisers,~~Other ~~Inc~~Events.,

~~109~~Effective August 13,~~180~~ 2010, the Board of Directors of Registrant adopted resolutions approving an increase in the number of shares of its common stock authorized from 70,000,000 to 300,000,000 and an increase from 5,000,000 to 10,000,000 in the number of shares of preferred stock authorized. On August 13, 2010, the Board of Directors also adopted resolutions approving the change the registrant’s domicile from the State of Utah to the State of Delaware. Shareholder approval is required for both of such actions. The Board of Directors elected to obtain shareholder approval by written consent of shareholders in lieu of a meeting of shareholders. The written consent process was believed to be a less costly and more efficient method of obtaining shareholder approval for the proposals. If the change of domicile is completed, the increase capital proposal will be effected through the change of the registrant’s domicile. The change of domicile will be effected through a reincorporation merger with a wholly-owned subsidiary of the registrant.

~~Bare~~If ~~Trustee~~the change of domicile to Delaware is not completed, the increased capital proposal will be effected by amending the registrant’s Articles of Incorporation in the State of Utah.

~~Vicis~~The ~~Capital~~registrant ~~Master~~will, ~~Fund~~prior to effecting the increased capital proposal and the change of domicile proposal, file an Information Statement with the Securities and Exchange Commission and distribute it to all of its shareholders.

243,060

Cipher 06 LLC

25,540

Total

377,780

These shares were issued in consideration of each Holder’s agreement to extend to May 31, 2009, the maturity date of certain promissory notes held by the Holders, pursuant to an Extension Agreement made as of December 31, 2008. See the Company’s Revised Definitive Information Statement filed with the Commission on July 30, 2009.

The issuance of these shares represents approximately 28% of the post-issuance outstanding shares of the Company. The Company believes that these issuances were exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D promulgated thereunder.

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On September 22, 2009, the Company filed with the Utah Division of Corporations Articles of Amendment to its Articles of Incorporation (the “Amendment”) by which it:

(i) effected a reverse split of its common stock on the basis of one for 45, while retaining the current authorized shares and the par value of one mill ($0.001) per share, with appropriate adjustments being made in the additional paid in capital and stated capital accounts of the Company, and with all fractional shares to be rounded up to the nearest whole share; and

(ii) changed the Company’s name to “Global Water Asset Corporation.”

The reverse split and the name change were effective on September 23, 2009, in accordance with the provisions of the Amendment, and will be effective in the current trading market for shares of common stock of the Company on the Pink OTC Markets, Inc. (the “Pink Sheets”) when effectuated by the Financial Industry Regulatory Authority, Inc. (“FINRA”), which usually takes approximately 10 days. The Company’s common stockholders do not need to take any action in connection with either of these matters.

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements of businesses acquired.

None; not applicable.

(b) Pro forma financial information.

None; not applicable.

(d) Exhibits.

Exhibit No.

Description

Articles of Amendment to Articles of Incorporation

SIGNATURES

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

GLOBAL WATER ASSET


Dated: August 17, 2010	GLOBAL WATER ASSET CORPORATION

	By: /s/ Michel Pelletier
	Chief Executive Officer and Director

~~CORPORATION,~~f:\aoh\global ~~a Utah corporation~~water\fm8k-0810\fm8k-0810.rtf

~~Dated: 9/24/2009~~2

By /s/ Michel Pelletier

Michel Pelletier, President

Filing Compare · Global Water Asset Corp