UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

———————

FORM 10-K

~~———————~~ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE ANNUAL PERIOD ENDED December 31st, 2011

~~(Mark~~TransGlobal ~~One)~~Assets Inc.

þ	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the period ended December 31, 2010
or
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from: _____________ to _____________

CUSIP NUMBER

~~Commission File number: 333-148697~~89366P105

~~———————~~State of Nevada Incorporation No. 333-148697 I.R.S. Federal Identification Number 88-0476779

~~TimeShare~~Corporate ~~Holdings, Inc.~~Office

~~(Exact~~2137 ~~name~~NW ofHighway ~~small~~101, ~~business~~Lincoln ~~issuer as specified in its charter)~~City, OR 97367

~~———————~~Tel: 541-994-1192

Nevada		88-0476779
(State or other jurisdiction of Incorporation or organization)		(IRS Employee Identification No.)

Fax: 541-994-1193

~~2137B~~Indicate NWby ~~Hwy~~check ~~101~~mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ¨ No x

~~Lincoln~~Indicate ~~City~~by check mark whether the registrant has submitted electronically and posted on its corporate Website, ORif ~~97367~~any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No x

~~(Address~~Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of ~~principal~~“large ~~executive~~accelerated filer,” ~~offices~~“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

~~(Former~~Large ~~name,~~accelerated ~~former~~filer ¨ Accelerated ~~address~~filer ~~and~~¨ ~~former~~Non-accelerated ~~fiscal~~filer ~~year,~~¨ Smaller ifreporting ~~changed~~company ~~since last report)~~x

~~———————~~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~~As ~~by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d)~~ of ~~the~~December ~~Securities~~31, ~~Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports)~~2011, ~~and~~there ~~(2)~~were ~~has been subject to such filing requirements for the past 90 days. Yes þ No o Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site~~102, ~~if any~~587,000 ~~every~~shares ~~Interactive Data File required to be submitted and posted pursuant to Rule 405~~ of ~~Regulation~~common stock ~~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)~~outstanding. Yes o No þ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

~~Large accelerated filer o Accelerated Filer o Non-accelerated filer o (Do not check if a smaller reporting company) Smaller reporting company þ~~OUR VISION

~~APPLICABLE~~To ~~ONLY~~be TOa ~~CORPORATE~~premier, ~~ISSUERS~~multi-sector holding company whose strategic worldwide assets enhance long-term shareholder value, global progress and the planet’s sustainability.

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
Class	Shares outstanding	Date
Common, $.001 par value	82,517,000	2/4/2011

- 2 -

TIMESHARE HOLDINGS, INC.
TABLE OF CONTENTS
	PAGE
CONSOLIDATED BALANCE SHEET	2
	3
CONSOLDIATED STATEMENTS OF OPERATIONS
	4-5
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
	6
CONSOLIDATED STATEMENTS OF CASH FLOWS
	7-13
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

TRANSGLOBAL ASSETS INC.

TIMESHARE HOLDINGS, INC

10K INDEX
	Pages
Part I
Item1. Business.	4 - 5
Item 1A. Risk Factors.	6
Item 1B. Unresolved Staff Comments.	6
Item 2. Properties.	6
Item 3. Legal Proceedings.	6
Item 4. Removed and Reserved.	6

Part II

Item 5. Market for Registrant’s Common Equity. Related Stockholder matters and Issuer Purchases of Equity Securities.	7
Item 6. Selected Financial Data.	8
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.	8
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.	8
Item 8. Financial Statements and Supplementary Data.	8 - 12
Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure	13
Item 9A. Controls and Procedures.	13
Item 9B. Other Information.	13

Part III
Item 10. Directors, Executive Officers and Corporate Governance.	13
Item 11. Executive Compensation.	14
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.	15
Item 13. Certain Relationships and Related Transactions and Director Independence.	15
Item 14. Principal Accounting Fees and Services.	15
Signatures	16

~~Consolidated~~- ~~Balance~~3 ~~Sheet (Unaudited)~~-

ASSETS	December 31,
	2010			2009
CURRENT ASSETS
Cash	$	13,820		$	-
Total Current Assets	$	13,820		$	-
PROPERTY AND EQUIPMENT	$	13,525		$	8,710
TOTAL ASSETS	$	27,345		$	8,710
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts Payable	$	135,000		$	229,921
Accrued Expenses	$	15,000		$	361,293
Short Term Notes Due to Affiliates	$	727,526		$	339,522
Short Term Notes Due to Others	$	387,561		$	10,000
Stock Deposits	$	-		$	56,000
Total Current Liabilities	$	1,265,087		$	996,736
Total Liabilities	$	1,265,087		$	996,736
STOCKHOLDERS' DEFICIT
Common Stock, $.001 par value, 175,000,000 shares authorized: 82,517,000 issued and outstanding
	$	82,517		$	30,167
Additional paid-in capital	$	6,230,096		$	6,210,096
Subscription Receivable	$	-		$	(142,857	)
Deficit accumulated during the development
stage	$	(7,550,355	)	$	(7,085,432	)
Total Stockholders' Deficit	$	(1,237,742	)	$	(988,026	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	27,345		$	8,710

TRANSGLOBAL ASSETS INC.

~~TIMESHARE~~Forward-Looking ~~HOLDINGS, INC.~~Statements

~~Consolidated~~ Statements in this 10K that are not historical facts are forward-looking statements based on current expectations of ~~Operations~~future ~~(Unaudited)~~events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition, we, through our management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We therefore caution against placing substantial reliance on the forward-looking statements contained in this 10K. All forward-looking statements included in this 10K are made only as of the date of this filing and we assume no obligation to update any written or oral forward-looking statements made by us or on our behalf as a result of new information, future events, or other factors.

	For the Years Ended December 31,
	2010		2009
Revenue	$	20,000	$	-
Total Revenue	$	20,000	$	-
Expenses
Insurance	$	1,049	$	-
Legal	$	279	$	-
Licenses	$	1,700	$	-
Postage	$	46	$	-
Professional Fees	$	950	$	761
Rent	$	1,000	$	-
Salaries	$	-	$	286
Salary Expense	$	574	$	-
Supplies	$	63	$	-
Telephone	$	519	$	-
Other Expenses	$	-	$	7,591.00
Total Expenses	$	6,180	$	8,638
Net Profit or Loss	$	13,820	$	(8,638	)
Loss Per Share - Basic and Diluted	$	-	$	-
Weighted Shares Outstanding		82,517,000		30,517,000

Part I

~~TIMESHARE~~Item ~~HOLDINGS,~~1. ~~INC~~Business.

~~CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT~~Overview

~~FOR~~The ~~THE~~Company ~~PERIOD~~was ~~JULY~~incorporated 12in Nevada as TimeShare Holdings Inc. on January 30, ~~2005~~2007. ~~(INCEPTION)~~The ~~THROUGH~~Company’s ~~DECEMBER~~business 31operation was focused on providing loans to individuals purchasing Time Share properties exclusively in the secondary market. This business operation continued until December 2, 2010 when the majority of the Common Shares were purchased resulting in a change of business focus. On February 28, 2011 the Shareholders approved the name change to TransGlobal Assets Inc. The business focus changed to Our Vision: “To be a premier, multi-sector holding company whose strategic worldwide assets enhance long-term shareholder value, global progress and the planet’s sustainability.” We are continuing to work towards that vision with our Company and its subsidiaries Native American Consulting and Renewable Energy R&D.

					Additional								Total
	Common Stock				Paid-In			Subscription		Accumulated			Stockholders'
	Shares		Amount		Capital			Receivable		Deficit			Deficit
Balance July 12, 2005		-	$	-	$	-		$	-	$	-		$	-
Shares issued for Founders @ $0.01 per share		21,563,483	$	21,564	$	(13,064	)	$	-	$	-		$	8,500
Shares issue for cash @ $0.17 per share		253,688	$	254	$	199,746		$	-	$	-		$	200,000
Net loss for the period ended December 31, 2005		-	$	-	$	-		$	-	$	(182,947	)	$	(182,947	)
Balance December 31, 2005	$	21,817,171	$	21,818	$	186,682		$	-	$	(182,947	)	$	25,553
Shares issued for cash @ $0.79 per share		88,791	$	88	$	69,912		$	-	$	-		$	70,000
Shares issued for services @ $0.71 per share		7,805,981	$	7,806	$	5,534,441		$	-	$	-		$	5,542,247
Net loss for the year ended December 31, 2006		-	$	-	$	-		$	-	$	(5,979,396	)	$	(5,979,396	)
Balance December 31, 2006		29,711,943		29,712		5,791,035			-		(6,162,343	)		(341,596	)
Shares issued for cash @ $0.79 per share		152,213	$	152	$	119,848		$	-	$	-		$	120,000
Shares issued for services @ $0.71 per share		126,844	$	127	$	89,932		$	-	$	-		$	90,059
Shares issued pursuant to a Private Placement for					$	7,524		$	-	$	-		$	7,600
cash @ $0.10 per share		76,000	$	76
Contributed capital		-	$	-	$	10,000		$	-	$	-		$	10,000
Shares issued for cash @ $0.50 per share		100,000	$	100	$	49,900		$	-	$	-		$	50,000
Net loss for the year ended December 31, 2007		-	$	-	$	-		$	-	$	(402,509	)	$	(402,509	)
Balance December 31, 2007		30,167,000		30,167		6,068,239			-		(6,564,852	)		(466,446	)

Employees

~~TIMESHARE~~The ~~HOLDINGS~~Company employees are currently limited to its executive management. We use private consultants to assist us in financing, ~~INC~~acquisitions, and research development strategy. As the Company expands its operations, it will be required to hire sales, administrative and support personnel on a full time basis.

~~CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT~~Acquisitions

~~FOR~~Native ~~THE~~American ~~PERIOD~~Consulting ~~JULY~~continues 12to work on acquisitions of companies and projects within the United States of America, ~~2005~~Sovereign ~~(INCEPTION)~~Native ~~THROUGH~~American ~~DECEMBER~~Tribes, 31Europe, ~~2010~~and Asia. The Company is committed to address each acquisition and/or project and ensure their viability through extensive Due Diligence. Letters of Intent, Memorandums of Understanding, Initial Contracts, and other documents agreed upon by the Company will not be announced until finalized legally.

							Additional									Total
	Common Stock						Paid-In			Subscription			Accumulated			Stockholders'
	Shares			Amount			Capital			Receivable			Deficit			Deficit
Balance December 31, 2007		30,167,000			30,167			6,068,239			-			(6,564,852	)		(466,446	)
Shares issued in association with common
stock subscriptions @ $0.14		750,000		$	750		$	106,393		$	(107,143	)	$	-		$	-
Shares cancelled		(750,000	)	$	(750	)	$	(106,393	)	$	107,143		$	-		$	-
Net loss for the year ending December 31, 2008		-		$	-		$	-		$	-		$	(471,215	)	$	(471,215	)
Balance December 31, 2008		30,167,000			30,167			6,068,239			-			(7,036,067	)		(937,661	)
Shares issued in association with common
stock subscriptions @ $0.14		1,000,000		$	1,000		$	141,857		$	(142,857	)	$	-		$	-
Net loss for the year ended December 31, 2009		-		$	-		$	-		$	-		$	(49,365	)	$	(49,365	)
Balance December 31, 2009		31,167,000			31,167			6,210,096			(142,857	)		(7,085,432	)		(987,026	)
Shares issued in association with common
stock subscriptions @ $0.00038		52,000,000		$	20,000		$	20,000		$	-		$	-		$	20,000
Shares cancelled		(650,000	)	$	(650.00	)	$	-		$	-		$	-		$	-
Net loss for year ended December 31, 2010		-		$	-		$	-		$	-		$	(464,923	)	$	(458,543	)
Balance December 31, 2010		82,517,000			50,517			6,230,096			(142,857	)		(7,550,355	)		1,237,742

Renewable Energy R&D continues working with private consultants on various acquisitions and projects involving, but not limited to, waste disposal and wind and solar power. The results of these efforts will be announced upon completion.

~~TIMESHARE~~- ~~HOLDINGS,~~4 ~~INC.~~-

~~Consolidated~~TRANSGLOBAL ~~Statements~~ASSETS ~~of Cash Flows – Unaudited~~INC.

For the Years Ended December 31,
	2010			2009
Cash Flows from Operating Activities
Net Income (Loss)	$	13,820		$	(8,638	)
Depreciation	$	3,600		$	3,600
Changes in Operating Assets and Liabilities:
Changes in Assets	$	-		$	-
Changes in Liabilities:
Accounts Payable	$	(94,921	)	$	(5,409	)
Accrued Interest	$	-		$	39,645
Accrued Expenses	$	15,000		$	-
Net Cash Used in Operating Activities	$	(62,501	)	$	29,198
Cash Flow from Financing Activities
Proceeds from Issuance of Common Stock	$	20,000		$	-
Proceeds from Notes Payable	$	-		$	1,310
Net Cash Provided from Financing Activities	$	20,000		$	1,310
Net Increase (Decrease) in Cash	$	20,000		$	(1,092	)
Cash Beginning of Year	$	-		$	2,191
Cash End of Year	$	13,820		$	-

Item 1. Business (continued)

~~TIMESHARE~~Joint ~~HOLDINGS, INC.~~Ventures

~~NOTE~~The 1Company –has ~~ORGANIZATION~~signed a Joint Venture with Helios, ~~STOCK~~a ~~ACQUISITION~~Company ~~AND~~in India, ~~BASIS~~to OFmarket ~~ACCOUNTING~~Municipal Solid Waste to Energy systems throughout the Goble. We are currently, through private consultants as well as our own efforts, working diligently to obtain financing to manufacture a MSW system to be installed in Romania. We have a Power Purchase Agreement with a municipality located in Romania for the first system.

~~Organization~~Manufacturing

The ~~consolidated financial statements presented are those of Timeshare Holdings, Inc.~~ ~~during~~Company ~~the~~does ~~year~~not ~~2010~~have ~~with~~any ~~the~~manufacturing ~~primary~~facilities ~~results~~at ~~occurring~~this ~~in November and December~~time. On We ~~November~~are ~~12,~~prepared ~~2010~~to ~~the~~establish ~~Company signed~~ a ~~Stock~~manufacturing ~~Acquisition~~facility ~~Agreement~~in ~~with Global Renewable Energy Systems Inc., a privately held Oregon Corporation for~~ the ~~purchase~~United ofStates ~~Fifty~~upon ~~Two~~receiving ~~Million~~financing ~~(52,000,000) shares of TimeShare Holdings, Inc. stock. The purchase price was~~ for ~~Twenty~~our ~~Thousand~~Joint ~~(20,000)~~Venture ~~Dollars~~with Helios. Additional provisions included the resignations of two (2) members of the Board of Directors and the appointment of two (2) new directors. The agreement included that the new Board of Directors would agree that the company would assume One Hundred Thirty Five Thousand (135,000) Dollars of accrued payables and Five Hundred Forty Seven Thousand Three Twenty Four (547,324) Dollars of accrued short term notes.

OnMarketing ~~November 30, 2010 two (2) of the Board of Directors acknowledged that Director Frederick H. Conte had resigned on January 8, 2009~~ and that Lynn Denton resigned effective December 1, 2010. At the same Board meeting Kent A. Strickler and Douglas R. Johnson were appointed to the Board joining the remaining member, Paul K. Thompson. Subsequently, Kent A. Strickler was elected Chairman of the Board and President of the Company, Paul K. Thompson remained a Director and was appointed Vice President, Investor Relations, and Douglas R. Johnson was elected Secretary/Treasurer of the Board and Chief Operating Officer and Chief Financial Officer of the Company.Sales

The Company is ~~incorporated~~poised to establish a Marketing and Sales Organization for sales of our future products in the ~~State~~United ofStates ~~Nevada~~upon receiving financing for our Joint Venture with Helios. The new Marketing and ~~maintains~~Sales ~~its~~Organization ~~principal~~will ~~office~~be inmanaged ~~Oregon~~by ~~at:~~Paul K. Thompson, Vice President and member of the Board of Directors.

~~2137B NW Highway 101~~Organization

Lincoln City, OR 97367

Our current Board of Directors is:
	Kent A. Strickler, Chairman
	Paul K. Thompson, Director
	Douglas R. Johnson, Secretary/Treasurer

Our current Officers are:
	Kent A. Strickler, President
	Paul K. Thompson, Vice President
	Douglas R. Johnson, COO/CFO

Investor Relations Contact:	investorrelations@transglobalassets.com

The Corporate Office is located at:
	2137B NW Highway 101, Suite B
	Lincoln City, OR 97367
	Tel: (541) 994-1192
	Fax: (541) 994 1193

~~Tel~~Note: ~~541-994-1192 Fax:~~The ~~541-994-1193~~Corporate Office will be moving in February, 2012. The Company will file an 8K with the new information as it becomes available.

~~NOTE~~- 25 ~~– SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES~~-

~~Basis~~TRANSGLOBAL ofASSETS ~~Presentation~~INC.

~~The~~Item ~~comparative consolidated financial statements include all of the accounts of TimeShare Holdings, Inc~~1A. ~~These consolidated financial statements have been prepared on the accrual basis of~~ ~~accounting in accordance~~Risk ~~with accounting principles generally accepted in United States~~Factors. ~~All intercompany accounts and transactions have been eliminated in the consolidated financial statements.~~

~~Use~~ We will need to raise additional funds through public or private debt or sale of ~~Estimates~~ equity to achieve our current business strategy. Such financing may not be available when needed. Even if such financing is available, it may be on terms that are materially adverse to your interests with respect to dilution of book value or other terms. Our capital requirements to implement our business strategy will be significant. We may not be able to obtain financing if and when it is needed on terms we deem acceptable. Our inability to obtain financing would have a material negative effect on our ability to implement our business strategy, and as a result, could require us to diminish or suspend our strategy. If we are unable to obtain financing on reasonable terms, we could be forced to delay, scale back or eliminate certain product and service development programs. In addition, such inability to obtain financing on reasonable terms could have a material negative effect on our business, operating results, or financial condition to such extent that we are forced to restructure, file for bankruptcy, or cease operations, any of which could put investment dollars at significant risk.

~~Management~~Item ~~uses estimates and assumptions in preparing these financial statements in accordance with U~~1B.S. ~~generally~~Unresolved ~~accepted~~Staff ~~accounting principles~~Comments. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were used.

~~NOTE~~There 2are –no ~~SUMMARY~~unresolved OFstaff ~~SIGNIFICANT ACCOUNTING POLICIES (Continued)~~comments.

~~Cash~~Item ~~and~~2. ~~Cash Equivalents~~Properties

The Company ~~considers~~office ~~all~~space ~~short-term~~is ~~debt~~currently ~~securities~~leased ~~purchased~~for ~~with~~$ a1,000.00 ~~maturity~~per month. ofThe ~~three~~lease ~~months~~expires oron ~~less~~February to14, be2012 ~~cash~~and ~~equivalents~~will not be renewed.

~~Revenue~~Item ~~Recognition~~3. Legal Proceedings

~~The~~As ~~Company applies the provisions~~ of ~~SEC~~December ~~Staff Accounting Bulletin No. 104~~31,~~"Revenue~~ ~~Recognition~~2011 inthere ~~Financials~~are ~~Statements"~~no ~~(SAB~~legal ~~104),~~proceedings ~~which~~against ~~provides guidance on~~ the Company. ~~recognition,~~We ~~presentation~~do ~~and~~not ~~disclosure~~anticipate ofany ~~revenue~~legal inproceeding ~~financial statements filed with the SEC. SAB 104 outlines the basic criteria~~ that ~~must~~will behave ~~met~~a tomaterial ~~recognize~~adverse ~~revenue~~effect ~~and~~on ~~provides guidance for disclosure related to revenue recognition policies. In general,~~ the Company’s ~~recognizes~~financial ~~revenue~~or operational ~~related to its subsidiaries projected to produce beginning in the first quarter~~ positions.

~~The~~Item ~~Company's revenues will be generated from subsidiaries operating in the renewable energy and hotel industries~~4. ~~The~~ ~~renewable~~Removed ~~energy industry produces revenue ranging from tipping fees to electricity produced~~ and ~~green house gases emissions reduction Carbon Credits~~Reserved. ~~The hotel revenues are generated from lodging, restaurant, and gaming activities.~~

~~Property~~ (Removed and ~~Equipment~~ Reserved)

~~Property and equipment are carried at cost less accumulated depreciation. Depreciation is recorded on a straight~~-~~line~~ ~~basis~~6 ~~over the estimated useful lives of the respective assets.~~-

~~Expenditures~~TRANSGLOBAL ~~for~~ASSETS ~~major renewals and betterments are capitalized, while minor replacements, maintenance and repairs, which do not extend the asset lives, are charged to operations as incurred~~INC. ~~Upon sale or disposition, the cost and related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in operations.~~

~~Offering Costs~~Part II

~~Income Taxes~~Current Share Structure as of December 31, 2011

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

The current Stock structure is:	Authorized Shares	175,000,000
	Outstanding Shares	102,587,000
	Restricted Shares	60,351,334
	Non-Restricted	42,235,666
	Shareholders	171

~~NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)~~The Stock structure information is public and available by email request to: investorrelations@transglobalassets.com

~~The~~Share ~~Company~~Increase records net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the valuation allowance which would reduce the provision for income taxes.Information

~~In June 2006, FASB issued FASB ASC 740-10 (Prior authoritative literature: FASB~~The ~~Interpretation~~Outstanding ~~No.~~Shares 48increased ~~“Accounting for Uncertainty~~ in ~~Income~~2011 ~~Taxes—an~~by interpretation of FASB Statement No. 109”). This Interpretation clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with FASB No. 10920, “Accounting for Income Taxes”. FASB ASC 740-10 provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination070,000 as including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized upon the adoption of FIN 48 and in subsequent periods. FASB ASC 740-10 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. FASB ASC 740-10 is effective for fiscal years beginning after December 15, 2006.follows:

~~The Company adopted the provisions of FASB ASC 740-10 on January 1~~3,000,000 ~~2007.~~Shares ~~The~~were ~~adoption~~issued offor ~~FASB~~Capital ~~ASC~~Financing ~~740-10 had no effect on the Company’s reported deficit~~17,070,000 ~~its~~Shares ~~net~~were ~~income~~issued ~~(loss)~~for ~~or on its reported deferred net tax assets from net operating loss carry forwards or the related valuation allowance (Note 8).~~Services

~~The~~Board ~~Company will recognize interest and penalties related to unrecognized tax benefits within the income tax expense (benefit) line in its consolidated statement~~ of ~~operations.~~Directors AsCompensation of- ~~December 31, 2010, the Company had not recognized liabilities for penalty and interest as the Company does not have liability for unrecognized tax benefits.~~Stock

~~Advertising~~Effective January 1, 2011 the compensation for the Board of Directors compensation was either a cash payment of $2,500.00 dollars per month or issuance of Preferred Series A Stock @ $0.001 per share.

~~Costs~~Notes ofPayable ~~advertising~~– ~~are charged to expense as incurred. Advertising expense was $ -0- and for the year ended December 31, 2010.~~Stock

Concentrations of Credit Risk

The Company has Notes Payable as follows:
	Short Term Notes to Affiliates:	$542,159.71
	Short Term Notes to Others:	$560,802.29

~~The~~These ~~Company~~notes ~~maintains~~are ~~its~~delinquent ~~cash~~and ~~accounts~~secured inby ~~commercial~~a ~~banks.~~pledge ~~At December 31, 2010, cash on deposit was not in excess~~ of ~~the federally insured limit of $250,000.~~stock

~~Income (Loss) per~~- ~~Common Share~~7 -

~~The~~TRANSGLOBAL ~~Company~~ASSETS ~~calculates net income (loss) per share in accordance with SFAS No~~INC. 128, Earnings Per Share (“SFAS No. 128”). Under the provisions of SFAS No. 128, basic net earnings per share is computed by dividing the net income/ (loss) for the period by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common stock and dilutive common stock equivalents then outstanding. Through December 31, 2010 the Company did not have any common stock equivalents.

~~NOTE~~Item 36. –Selected ~~RECENTLY~~Financial ~~ISSUED ACCOUNTING PRONOUNCEMENTS~~Data.

InNot January 2010, the FASB issued Accounting Standards Update 2010-02, Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary. This amendment to Topic 810 clarifies, but does not change, the scope of current US GAAP. It clarifies the decrease in ownership provisions of Subtopic 810-10 and removes the potential conflict between guidance in that Subtopic and asset de-recognition and gain or loss recognition guidance that may exist in other US GAAP. An entity will be required to follow the amended guidance beginning in the period that it first adopts FAS 160 (now included in Subtopic 810-10). For those entities that have already adopted FAS 160, the amendments are effective at the beginning of the first interim or annual reporting period ending on or after December 15, 2009. The amendments should be applied retrospectively to the first period that an entity adopted FAS 160. The Company does not expect the provisions of ASU 2010-02 to have a material effect on the financial position, results of operations or cash flows of the Company.Applicable

InItem ~~January~~7. ~~2010,~~Management’s ~~the~~Discussion ~~FASB issued Accounting Standards Update 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock~~ and ~~Cash~~Analysis ~~(A Consensus~~ of ~~the~~Financial ~~FASB~~Condition Emerging Issues Task Force). This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and ~~260. Effective~~Results ~~for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis. The Company does not expect the provisions~~ of ~~ASU 2010-01 to have a material effect on the financial position, results of operations or cash flows of the Company~~Operations.

InRefer ~~December 2009, the FASB issued Accounting Standards Update 2009-17, Consolidations (Topic 810): Improvements~~ to ~~Financial~~Item ~~Reporting~~1and byItem ~~Enterprises Involved with Variable Interest Entities~~1A. ~~This Accounting Standards Update amends the FASB Accounting Standards Codification for Statement 167. (See FAS 167 effective date below.)~~

InItem ~~December~~7A. ~~2009,~~Quantitative ~~the FASB issued Accounting Standards Update 2009-16, Transfers~~ and ~~Servicing~~Qualitative ~~(Topic~~Disclosures ~~860):~~About ~~Accounting~~Market ~~for Transfers of Financial Assets~~Risk. ~~This Accounting Standards Update amends the FASB Accounting Standards Codification for Statement 166. (See FAS 166 effective date below)~~

InNot October 2009, the FASB issued Accounting Standards Update 2009-15, Accounting for Own- Share Lending Arrangements in Contemplation of Convertible Debt Issuance or Other Financing. This Accounting Standards Update amends the FASB Accounting Standard Codification for EITF 09-1. (See EITF 09-1 effective date below.)Applicable

InItem ~~October 2009, the FASB issued Accounting Standards Update 2009-14, Software (Topic 985): Certain Revenue Arrangements That Include Software Elements~~8. ~~This~~ ~~update~~Financial ~~changed~~Statements ~~the accounting model for revenue arrangements that include both tangible products~~ and ~~software~~Supplementary ~~elements~~Data. Effective prospectively for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect the provisions of ASU 2009-14 to have a material effect on the financial position, results of operations or cash flows of the Company.

In October 2009, the FASB issued Accounting Standards Update 2009-13, Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements. This update addressed the accounting for multiple-deliverable arrangements to enable vendors to account for products or services (deliverables) separately rather than a combined unit and will be separated in more circumstances that under existing US GAAP. This amendment has eliminated that residual method of allocation. Effective prospectively for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The ~~Company~~following ~~does~~Financial ~~not~~Statements ~~expect~~are ~~the~~as ~~provisions of ASU 2009-13 to have a material effect on the financial position, results of operations or cash flows of the Company.~~follows:

In September 2009, the FASB issued Accounting Standards Update 2009-12, Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). This update provides amendments to Topic 820 for the fair value measurement of investments in certain entities that calculate net asset value per share (or its equivalent). It is effective for interim and annual periods ending after December 15, 2009. Early application is permitted in financial statements for earlier interim and annual periods that have not been issued. The Company does not expect the provisions of ASU 2009-12 to have a material effect on the financial position, results of operations or cash flows of the Company.

1.	Consolidated Balance Sheet	Page 10

2.	Consolidated Statement of Operations	Page 11

3.	Statement of Stockholders’ Equity	Page 12

4.	Consolidated Statement of Cash Flow	Page 13

~~In June 2009, FASB issued ASC 105~~-10 ~~(Prior~~8 ~~authoritative literature: SFAS No. 168, "The FASB Accounting Standards Codification TM and the Hierarchy of Generally Accepted Accounting Principles~~ - a replacement of FASB Statement No. 162").FASB ASC 105-10 establishes the FASB Accounting Standards Codification TM (Codification) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. FASB ASC 105-10 is effective for financial statements issued for fiscal years and interim periods ending after September 15, 2009. As such, the Company is required to adopt these provisions at the beginning of the fiscal year ending December 31, 2009. Adoption of FASB ASC 105-10 did not have a material effect on the Company’s financial statements.

InTRANSGLOBAL ~~July~~ASSETS ~~2009, the FASB ratified the consensus reached by EITF (Emerging Issues Task Force) issued EITF No~~INC. 09-1, (ASC Topic 470) "Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance" ("EITF 09-1"). The provisions of EITF 09-1, clarifies the accounting treatment and disclosure of share-lending arrangements that are classified as equity in the financial statements of the share lender. An example of a share-lending arrangement is an agreement between the Company (share lender) and an investment bank (share borrower) which allows the investment bank to use the loaned shares to enter into equity derivative contracts with investors. EITF 09-1 is effective for fiscal years that beginning on or after December 15,2009 and requires retrospective application for all arrangements outstanding as of the beginning of fiscal years beginning on or after December 15,2009. Share-lending arrangements that have been terminated as a result of counterparty default prior to December 15, 2009, but for which the entity has not reached a final settlement as of December 15, 2009 are within the scope. Effective for share-lending arrangements entered into on or after the beginning of the first reporting period that begins on or after June 15, 2009. The Company does not expect the provisions of EITF 09-1 to have a material effect on the financial position, results of operations or cash flows of the Company.

InCONSOLIDATED ~~June 2009, the FASB~~BALANCE ASC 860-10 (Prior authoritative literature: issued SFAS No. 166, “Accounting for Transfers of Financial Assets, an Amendment of FASB Statement No. 140”), which eliminates the concept of a qualifying special-purpose entity (“QSPE”), clarifies and amends the de-recognition criteria for a transfer to be accounted for as a sale, amends and clarifies the unit of account eligible for sale accounting and requires that a transferor initially measure at fair value and recognize all assets obtained and liabilities incurred as a result of a transfer of an entire financial asset or group of financial assets accounted for as a sale. This standard is effective for fiscal years beginning after November 15, 2009. Adoption of FASB ASC 860-10 did not have a material impact on the Company’s financial statements.SHEET

InDecember ~~May 2009~~31, FASB issued FASB ASC 855-10 (Prior authoritative literature: SFAS No. 165, "Subsequent Events"). FASB ASC 855-10 establishes principles and requirements for the reporting of events or transactions that occur after the balance sheet date, but before financial statements are issued or are available to be issued. FASB ASC 855-10 is effective for financial statements issued for fiscal years and interim periods ending after June 15, 2009. As such, the Company adopted these provisions at the beginning of the interim period ended June 30, 2009.2011

~~In April 2009, the FASB issued FASB ASC 810-10-65~~ (~~Prior authoritative literature: SFAS No. 164, “Not-for-Profit Entities: Mergers and Acquisitions”~~unaudited) which governs the information that a not-for-profit entity should provide in its financial reports about a combination with one or more other not-for-profit entities, businesses or nonprofit activities and sets out the principles and requirements for how a not-for-profit entity should determine whether a combination is in fact a merger or an acquisition. This standard is effective for mergers occurring on or after Dec. 15, 2009 and for acquisitions where the acquisition date is on or after the beginning of the first annual reporting period, beginning on or after Dec. 15, 2009. This standard does not apply to the Company since the Company is considered a for-profit entity.

NOTE 4 – RELATED PARTY TRANSACTIONS

	December 31, 2011			December 31, 2010
ASSETS
Cash	$	351.00		$	0
Prepaid Expenses	$	1,500.00		$	0
Equipment	$	13,525.00		$	13,525.00
TOTAL ASSETS	$	15,376.00		$	13.525.00

LIABILITIES
Accounts Payable	$	130,000.00		$	135,000.00
Accrued Expenses	$	0		$	15,000.00
Short Term Notes Due to Affiliates	$	542,159.71		$	542,159.71
Short Term Notes Due to Others	$	560,802.29		$	560,802.29
Short Term Loans from Stockholders	$	122,604.00		$	0
Accrued Salaries to Board of Directors, Officers, Others	$	540,000.00		$	0
TOTAL LIABILITIES	$	1,895,566.00		$	1,252,962.00

STOCKHOLDERS’ EQUITY
Common Stock, $.001 par value 175,000,000 shares authorized, 82,517,000 outstanding in 2010, 102,587,000 outstanding in 2011	$	102,587.00		$	82,517.00

Additional Paid-In Capital	$	6,245,096.00		$	6,230,096.00

Deficit Accumulated during the Development Stage	$	(8,227,873.00	)	$	(7,552,050.00	)

TOTAL STOCKHOLDERS’ EQUITY	$	(1,880,190.00	)	$	(1,239,437.00	)

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	15,376.00		$	13,525.00

~~The~~- ~~Company~~9 has issued Promissory Notes to corporate officers, directors and investors that are also shareholders of Timeshare Holdings, Inc. The Notes bear interest at rates of 0% and are due on November 12, 2011 with a one year roll over upon payment of 10% of the balance due. The notes are secured with stock shares of the Company that would be issued in case of default. The combined amount of the notes equals $727,526.-

~~NOTE~~TRANSGLOBAL 5ASSETS ~~– SHARE STRUCTURE~~INC.

~~The~~CONSOLIDATED ~~current~~STATEMENT ~~Share~~OF ~~Structure of the Company is as follows:~~OPERATIONS

Authorized Shares			175,000,000
Outstanding Shares			82,517,000
Restricted Shares			71,658,626
Free Trading Shares			10,858,374

December 31, 2011

~~NOTE 6 – ON GOING CONCERN~~(unaudited)

As reported in the financial statements, the Company has incurred losses of $7,550,355 from inception of the Company through December 31, 2010. The Company’s stockholders’ deficit at December 31, 2010 was $1,237,742. To date, there have been no revenues from operations. These factors combined raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is Management's plan to generate additional working capital from an offer to investors, and then begin investing in renewable energy projects and hotel acquisitions. Given the current economic and fiscal crisis affecting the United States, as well as the tightening of credit and the scarcity of investment capital, this strategy may no longer be viable. Therefore, the Company is exploring other strategic alternatives while simultaneously exploring other sources of Venture Capital.

	December 31, 2011			December 31, 2010

INCOME
Sales	$	0		$	0
Capital Stock Financing	$	15,000.00		$	0
Loans from Stockholders	$	107,604.00		$	6,180.00
TOTAL INCOME	$	122,604.00		$	6,180.00

EXPENSE
Bank Services Charges	$	183.00		$	0
Contributions	$	136.34		$	0
Filing Fees	$	14,414.00		$	4,552.00
Insurance	$	2,224.00		$	0
Legal Fees	$	13,779.00		$	0
Licenses & Permits	$	150.00		$	0
Office Supplies	$	898.25		$	63.00
Postage & Delivery	$	493.34		$	46.00
Press Releases	$	6,537.00		$	0
Professional Fees	$	40,888.00		$	0
Rent	$	13,500.00		$	1,000.00
Salary Expense	$	540,000.00		$	0
Shareholder Meetings	$	1,921.00		$	0
Stock Transaction Fees	$	9,609.51		$	0
Telephone	$	3,557.15		$	519.00
Travel & Entertainment	$	6,429.10		$	0
Utilities	$	605.16		$	0
Website & Internet	$	6,927.84		$	0
TOTAL EXPENSE	$	662,252.69		$	6,180.00

NET INCOME OR (LOSS)	$	(539,648.69	)	$	0

~~SIGNATURE~~- 10 -

~~Pursuant~~TRANSGLOBAL toASSETS the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicatedINC.

	TimeShare Holdings, Inc.
Date: February 4, 2011	By:	/s/ Kent A. Strickler
		Kent A. Strickler
		President
		/s/ Douglas R. Johnson
		Douglas R. Johnson
		Chief Operating Officer & Chief Financial Officer

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

FOR THE PERIOD OF DECEMBER 31, 2010 THROUGH DECEMBER 31, 2011

					Additional
	Common Stock				Paid-In		Accumulated			Stockholders’
	Shares		Amount		Capital		Deficit			Deficit

Balance December 31, 2010		82,517,000	$	50,517	$	6,230,096	$	(7,552,050	)	$	(1,433,644	)

Shares Issued in Association with Capital Financing		3,000,000			$	15,000	$	15,000		$	15,000

Shares Issued for Services		17,070,000								$	0

Contributed Capital					$	107,604				$	107,604

Net loss for Year Ended December 31, 2011							$	(549,649	)	$	(549,649	)

Balance December 31, 2011		102,587,000	$	65,517	$	6,352,700	$	(8,086,699	)	$	(1,969,293	)

- 11 -

TRANSGLOBAL ASSETS INC.

CONSOLIDATED STATEMENT OF CASH FLOW

December 31, 2011

	December 31, 2011		December 31, 2010

CASH FLOW FROM OPERATIONS

Revenue	$	0	$	0

Total Revenue	$	0	$	0

CASH FLOW FROM FINANCING ACTIVITIES	$	0	$	0

Proceeds from Financing	$	15,000.00	$	0
Proceeds from Stockholder Loans	$	107,604.00	$	6,180.00

Total Financing	$	122,604.00	$	6,180.00

CASH FLOW USED FOR OPERATIONAL ACTIVITIES

Accounts Payable	$	5,000.00	$	0
Other Expenses	$	117,252.69	$	6,180.00

Total Expenditures	$	122,252.69	$	0

CASH BEGINNING OF YEAR	$	0	$	0

CASH END OF YEAR	$	351.31	$	0

- 12 -

TRANSGLOBAL ASSETS INC.

Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure

Refer to Item 14.

Item 9A. Controls and Procedures.

The Company management, with the participation of our President and Chief Operating Officer/Chief Financial Officer, conducted an evaluation of the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15e under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The review included reports from inception through December 31, 2011 to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is accumulated and communicated to our management and shareholders accurately and reflects the Company’s financial condition. Based on that evaluation, our President and Chief Operating Officer/Chief Financial Officer have concluded that, as of December 31, 2011, our disclosure controls and procedures were not effective at the reasonable assurance level. We are unable to certify that our filings to date accurately reflect the Company’s financial condition. We have effective with this annual report revised our internal controls and are issuing financial and operational results that in our opinion accurately reflect the Company’s financial and operational condition.

Item 9B. Other Information.

The 2011 Annual Stockholders’ Meeting was held in Portland, Oregon on February 28, 2011. At the meeting the Stockholders approved the name change from TimeShare Holdings Inc. to the current name of TransGlobal Assets Inc. The Company recently deleted content from its website in order to rebuild and revise it. It is still under construction at this time.

Item III

Item 10. Directors, Executive Officers and Corporate Governance.

The Company’s Board of Directors and Executive Officers are:

	Kent A. Strickler	Chairman of the Board and President
	Paul K. Thompson	Director and Vice President
	Douglas R. Johnson	Secretary/Treasurer and COO/CFO

The Officers of the Subsidiaries are:
	Kent A. Strickler	President, Native American Consulting
	Douglas R. Johnson	President, Renewable Energy R&D

- 13 -

TRANSGLOBAL ASSETS INC.

Item 11. Executive Compensation.

Board of Directors

			Annual
	Name	Position	Compensation

	Kent A. Strickler	Chairman of the Board	3,000,000 Shares – Preferred Series A

	Paul K. Thompson	Director	3,000,000 Shares – Preferred Series A

	Douglas R. Johnson	Secretary/Treasurer	3,000,000 Shares – Preferred Series A

Executive Officers

			Annual
Name	Position		Compensation

Kent A. Strickler	President	$	180,000

Paul K. Thompson	Vice President	$	180,000

Douglas R. Johnson	Chief Operating Officer	$	180,000
	Chief Financial Officer

Subsidiary Officers

- 14 -

TRANSGLOBAL ASSETS INC.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

Stock Holdings of Board of Directors, Executive Officers and Others over 5% or More

Name	Shares of Common Stock		Percent of Class

Kent A. Strickler		13,060,000		12.7

Paul K. Thompson		10,311,000		10.1

Douglas R. Johnson		7,500,000		7.3
Douglas R. Johnson & Patricia A. Johnson		3,520,000		3.4
Total		11,020,000		10.7

Frederick H. Conte and Bernadette R Conte Family Trust		7,500,000		7.3

On January 1, 2011 the Company acquired Native American Consulting from Kent A. Strickler and Renewable Energy R&D from Global Renewable Energy Systems Inc., a private Oregon Company whose principal was Douglas R. Johnson, Chief Executive Officer. The acquisitions were completed without cost and are wholly-owned Subsidiaries of TransGlobal Assets Inc.

Item 14. Principal Accounting Fees and Services.

In July 2011 the Company engaged SEC Solutions LLC of New York to review our accounting records prior to audit. The review was still in process when we terminated the relationship and we are once again unaudited. The total amount paid SEC Solutions LLC in 2011 is $10,718 with an additional $16,076 billed and unpaid. The billing was from July 2011 to November 2011 for a total of $26,794. No audit has been done at this date.

- 15 -

TRANSGLOBAL ASSETS INC.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated.

	TransGlobal Assets Inc.

Date: January 20, 2012	By:	/s/ Kent A. Strickler
		Kent A. Strickler
		President

		/s/ Douglas R. Johnson
		Douglas R. Johnson
		Chief Operating Officer & Chief Financial Officer

Legal Notice Regarding Forward Looking Statements

No statement herein should be considered as an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although TimeShare Holdings, Inc. (the “Company” or “TMSH”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's acquisitions, technical problems with the Company's research and development products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that TimeShare Holdings, Inc. will be able to finalize all projects or acquisitions due to unknown variables. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov . The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

- 16 -

Compensation

Kent A. Strickler

Douglas R. Johnson

Filing Compare · TRANSGLOBAL ASSETS, INC.