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 fiscal year ended ~~June~~December 3031, 2019

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

For the transition period from ________to __________

Commission file number: 000-55199

GLOBAL SEED CORPORATION

(Exact name of registrant as specified in its charter)

Texas		27-3028235
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
3906- 3907, Vanke ITC Center, Chang’an, Dongguan, China		523845
3905, Vanke ITC Center, Chang’an, Dongguan, China		523845
(Address of principal executive offices)		(Zip Code)

Issuer’s telephone number, including area code: (852) 65533834

Securities Registered Under Section 12(b) of the Exchange Act: None

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Securities Registered Under Section 12(g) of the Exchange Act: Common Stock, $0.0001 par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒

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

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of ~~Regulation~~Regulations S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated filer ☐

Non-accelerated filer ☒	Smaller reporting company ☒

	Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☒☐ No ☐☒

The aggregate market value of voting common stock held by non-affiliates of the registrant as of ~~December~~June 3128, ~~2018~~2019, the last business day of the registrant’s second ~~fiscal~~ fiscal quarter, was approximately $1137,~~143~~335,~~000~~934.

The number of shares of common stock outstanding as of October 108, ~~2019~~2020 was 5257,~~000~~874,~~000~~025.

DOCUMENTS INCORPORATED BY REFERENCE:

None.

GLOBAL SEED CORPORATION

TABLE OF CONTENTS

FORM 10-K

INDEX

PART I
Item 1.	Business	~~Business~~1	1
Item 1A.	Risk Factors	~~Risk Factors~~10	2
Item 1B.	Unresolved Staff Comments	~~Unresolved Staff Comments~~10	2
Item 2.	Properties	~~Properties~~10	2
Item 3.	Legal Proceedings	~~Legal Proceedings~~10	2
Item 4.	Mine Safety Disclosures	~~Mine Safety Disclosures~~10	2
PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	~~Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities~~11	3
Item 6.	Selected Financial Data	~~Selected Financial Data~~12	3
Item 7.	Management’s Discussion and Analysis or Plan of Operation	~~Management’s Discussion and Analysis or Plan of Operation~~13	4
Item 7A.	Quantitative and Qualitative Disclosures about Market Risk	~~Quantitative and Qualitative Disclosures about Market Risk~~18	6
Item 8.	Financial Statements and Supplementary Data	~~Financial Statements and Supplementary Data~~18	6
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	~~Changes in and Disagreements with Accountants on Accounting and Financial Disclosure~~18	6
Item 9A.	Controls and Procedures	~~Controls and Procedures~~19	6
Item 9B.	Other Information	~~Other Information~~20	7
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	~~Directors, Executive Officers and Corporate Governance~~21	8
Item 11.	Executive Compensation	~~Executive Compensation~~25	10
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	~~Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters~~27	10
Item 13.	Certain Relationships and Related Transactions, and Director Independence	~~Certain Relationships and Related Transactions, and Director Independence~~28	10
Item 14.	Principal Accountant Fees and Services	~~Principal Accountant Fees and Services~~28	11
Item 15.	Exhibits, Financial Statement Schedules	~~Exhibits, Financial Statement Schedules~~29	12

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report contains certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such forward-looking statements, including but not limited to statements regarding our projected growth, trends and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond our control. Forward-looking statements typically are identified by the use of terms such as “look,” “may,” “will,” “should,” “might,” “believe,” “plan,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently. The accuracy of such statements may be impacted by a number of business risks and uncertainties we face that could cause our actual results to differ materially from those projected or anticipated, including but not limited to the following:

● Our ability to timely and properly deliver our products and services among others; ● Our dependence on a limited number of major customers and related parties; ● Political and economic factors in China and its relationship with U.S.; ● Our ability to expand and grow our lines of business; ● Unanticipated changes in general market conditions or other factors which may result in cancellations or reductions in the need for our products and services; ● The effect of terrorist acts, or the threat thereof, on consumer confidence and spending or the production and distribution of product and raw materials which could, as a result, adversely affect our services, operations and financial performance; ● The acceptance in the marketplace of our new lines of services; ● The foreign currency exchange rate fluctuations; ● Hurricanes or other natural disasters; ● The current outbreak of the novel coronavirus (COVID-19) pandemic; ● Our ability to identify and successfully execute cost control initiatives; and ● Our ability to attract, retain and motivate skilled personnel;

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update this forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this report. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.

PART I

ITEM 1.

BUSINESS.

Business Overview

Global Seed Corporation ~~(the “Company”)~~ was incorporated in the State of Texas on July 13, 2010. WeOn ~~had~~October ~~been~~30, ~~engaged~~2019, ~~principally~~we inclosed ~~the~~certain ~~distribution~~share exchange agreement dated October 1, 2019 (the “Share Exchange Agreement”) and acquired all of the issued and outstanding shares of Well Benefit International Limited, a ~~monthly~~British ~~journal~~Virgin ~~prior~~Islands tocompany ~~our~~(“Well ~~change~~Benefit”), in ~~control~~exchange ~~consummated~~for onthe ~~June~~issuance 2to the shareholders of Well Benefit (the “Shareholders”) an aggregate of 252,874,025 ~~2018~~restricted shares of the Company’s common stock (the transaction, the “Reverse Merger”).

OnDongguan ~~May~~Zhenghao 21Industrial Investment Company Limited (“Zhenghao”), a ~~2018~~company formed under the laws of the People’s Republic of China (“PRC”), ~~Leung~~is a wholly-owned subsidiary of Well ~~Kwok~~Benenfit. ~~Hei~~Zhenghao provides healthy coffee and beverage products to customers in China. As a result of the Reverse Merger, ~~Chi~~Zhenghao became ~~Siu~~our Onwholly-owned subsidiary, ~~Leung~~and ~~Siu~~we ~~Hung~~transitioned our business focus to providing healthy coffee and ~~Chan~~beverage ~~Hiu~~products ~~(collectively,~~to customers ~~the~~in China through Zhenghao under its established brand, “~~Purchasers~~Ka Su Le”. Our business used to comprise of three segments: (i) wholesale business, including wholesaling coffee and ~~various~~healthy ~~shareholders~~drinks capsules, coffee brewing machines and health supplements and skin care products; (~~the~~ii) ~~“Sellers”~~retail selling coffee products and (iii) retail selling of ~~the~~coffee ~~Company~~brewing ~~entered~~machines. ~~into~~Starting from aFebruary ~~share~~1, ~~purchase~~2020, ~~agreement~~in an effort to control our cost and maximize our interest, ~~pursuant~~we ~~which~~have ~~the~~shifted ~~Sellers~~our ~~transferred~~business focus to the ~~Purchasers~~wholesale business anonly. ~~aggregate~~As ~~of 4~~a result,~~492,000~~ ~~shares~~we ofare ~~common~~no ~~stock~~longer (involved in the ~~“Common~~retailing ~~Stock”)~~business of ~~the~~selling ~~Company~~coffee ~~(such~~products ~~transaction,~~and ~~the~~coffee ~~“Share~~brew ~~Purchase”)~~machines. ~~The~~We ~~Share~~have ~~Purchase~~also ~~was~~stopped ~~closed~~selling onhealth ~~June~~supplements 1,and ~~2018~~skin care products.

AtCorporate the closing of the Share Purchase, there was a change in our board and executive officers. Ms. Jia Tian, the sole director, President, Treasurer and Secretary of the Company appointed Leung Kwok Hei to serve as a director and Chief Executive Officer and Chan Hiu as a director and Chief Financial Officer of the Company, with such appointment effective on June 1, 2018. Ms. Jia Tian resigned from all her positions with the Company effective on June 1, 2018.History

~~Prior~~Since tothe ~~our~~Company ~~change~~was incorporated in ~~control~~2010, ~~our~~we ~~product~~had ~~was~~been ~~the~~engaged ~~Global~~principally ~~Seed~~in ~~Journal.~~the Itdistribution isof a monthly journal ~~published~~prior into ~~Chinese~~our ~~for~~change ~~its~~in ~~presentation~~control ~~of Asian~~consummated ~~community~~on ~~news,~~June ~~advertising content~~2, ~~and articles written by contributors~~2018.

On ~~October~~May 121, ~~2019~~2018, Leung ~~the~~Kwok ~~Company~~Hei, ~~entered~~Chi ~~into~~Siu aOn, ~~share~~Leung ~~exchange~~Siu ~~agreement~~Hung ~~(the~~and ~~“Share~~Chan ~~Exchange~~Hiu ~~Agreement”)~~(collectively, ~~with~~the ~~Well Benefit International Limited (~~“~~Well Benefit~~Purchasers”), ~~a British Virgin Islands company,~~ and ~~all~~various ~~of the~~ shareholders ~~of Well Benefit~~ (the “~~Shareholders~~Sellers”) ~~to acquire all~~ of the ~~issued~~Company ~~and~~entered ~~outstanding~~into ~~capital~~a ~~stock~~share ofpurchase ~~Well~~agreement, ~~Benefit~~pursuant inwhich ~~exchange for~~ the ~~issuance~~Sellers transferred to the ~~Shareholders~~Purchasers an aggregate of ~~252~~ 4,~~874~~492,~~025~~000 shares of ~~Common~~common ~~Stock~~stock (the “~~Reverse~~Common ~~Merger~~Stock”). ~~The~~of ~~Reverse~~the ~~Merger~~Company is(such ~~expected~~transaction, tothe be“Share ~~closed~~Purchase”). byThe ~~the~~Share ~~end~~Purchase ofwas ~~October~~closed ~~2019~~on June 1, 2018.

~~Dongguan~~At ~~Zhenghao~~the ~~Industrial Investment~~closing ~~Company~~of ~~Limited~~the Share ~~(“Zhenghao”)~~Purchase, there was a ~~company~~change ~~formed~~in ~~under~~our board and executive officers. Ms. Jia Tian, the ~~laws~~sole director, President, Treasurer and Secretary of the ~~People’s~~Company ~~Republic~~appointed ofLeung ~~China,~~Kwok is Hei to serve as a ~~wholly-owned~~director ~~subsidiary~~and ofChief ~~Well~~Executive ~~Benefit.~~Officer ~~Upon~~and ~~closing~~Chan Hiu as a director and Chief Financial Officer of the ~~Reverse Merger~~Company, wewith ~~plan~~such toappointment ~~provide~~effective ~~healthy~~on ~~coffee~~June ~~and~~1, ~~beverage~~2018. ~~products to~~Ms. ~~customers~~Jia inTian ~~China~~resigned ~~through~~from ~~Zhenghao~~all ~~under~~her positions ~~its~~with ~~established~~the ~~brand,~~Company ~~“Ka~~effective Suon ~~Le”~~June 1, 2018.

1Prior to our change in control, our product was the Global Seed Journal. It is a monthly journal published in Chinese for its presentation of Asian community news, advertising content, and articles written by contributors.

~~Corporate~~On ~~Structure~~October 30, 2019, we acquired all of the issued and outstanding shares of Well Benefit pursuant to the Share Exchange Agreement in exchange for 252,874,025 of our restricted shares of common stock. As a result of the Reverse Merger, Well Benefit and Zhenghao became our wholly-owned subsidiary, and we transitioned our business focus to providing healthy coffee and beverage products to customers in China.

~~The Company currently does not have any subsidiary. Upon closing of the Reverse Merger, Well Benefit will become our wholly-owned subsidiary and we expect our new corporate structure to be as follows.~~1

~~Sales~~Corporate ~~and Marketing~~Structure

~~Given~~The ~~our~~following ~~current~~diagram ~~stage of~~illustrates ~~development,~~our ~~we have not yet established commercial organization or distribution capabilities. We plan to build up a national~~current ~~network~~corporate ~~after we close the Reverse Merger.~~structure:

~~Competition~~Industry Overview

~~The~~China’s ~~coffee~~rising urbanization and ~~health beverage~~disposable ~~industry~~income wehave ~~plan~~been and are expected to continue to be inthe ismain ~~highly~~growth ~~competitive~~engines of its coffee industry, and ~~subject~~more and more people in China have begun to ~~rapid~~consume ~~change.~~more ~~Key~~coffee ~~competitive~~in ~~factors~~their ~~affecting~~daily lives. However, compared to the ~~commercial~~developed countries, ~~success~~including ofother ~~our~~East ~~products~~Asian ~~are~~countries ~~likely~~and toregions, beChina’s ~~store~~coffee ~~network,~~market ~~product~~is ~~quality~~still highly underdeveloped. The average coffee consumption has been relatively low and ~~safety~~mostly dominated by non-freshly brewed coffee. Despite the increased demand from Chinese consumers, ~~product~~inconsistent ~~pricing~~qualities, ~~brand~~high ~~recognition~~prices and ~~reputation~~inconvenience are the key pain points that hamper the growth of China’s ~~and~~coffee ~~customer~~consumption. ~~experience~~With these pain points being gradually addressed, we expect coffee consumption to accelerate in China.

~~Employees~~2

AsThe capsule beverage market in China, including the capsule coffee market, is far from being saturated and offers tremendous business opportunity due in part to the growth potential of coffee machine sales and the ~~date~~evolving tastes of ~~this~~Chinese customers towards more regular and sophisticated ~~report~~coffee consumption. According to the Statista Report, weChina doranked ~~not~~number ~~have~~ten ~~any~~with ~~employees~~19.8 billion US dollars, ~~other~~where ~~than~~the Mrtop three countries, which is the United States, Brazil and Japan, that has 125.1 ~~Leung~~billion, ~~Kwok~~84.1 ~~Hei~~billion and Mr80.6 ~~Chan~~billion ~~Hiu~~US dollars. According to the United Nations Population Division, in 2015 China had 14 billion people where the population of the United States is 0.3 billion. We would love to see people enjoying coffee in this tremendous market.

~~ITEM~~Although 1Aa giant brand of instant coffee is dominating the market in China, based on the report of the Euromonitor International, Hot Drinks, 2016 Research Edition, the market size of instant coffee in China has shown declination. ~~RISK~~According ~~FACTORS~~to International Coffee Organization (ICO), although the instant coffee market in China is still taking the lead, the rate of coffee bean import to China was constantly rising at an annual rate of 15% from 2004-2014. An article written by Jesse W. Mattingly from University of Kentucky concludes that coffee market in China is new, however Chinese are getting more knowledgeable in coffee. Producers and retailers should focus on quality in order to bring the traditional culture of coffee to a developing market.

WeOur ~~are~~Products ~~a smaller reporting company as defined by Rule 12b-2 of the Exchange Act~~ and ~~are not required to provide the information under this item.~~Services

~~ITEM~~We 1Bprovide a variety of coffee products and healthy beverages. We ~~UNSOLVED~~use ~~STAFF~~capsules ~~COMMENTS~~to keep the freshness and tastiness and to standardize the quality of our products. Healthiness, convenience, high quality and affordability are the core values of our product. Our goal is to allow our customers to make coffee or other healthy beverages at home through several simple brewing steps. Our business used to comprises of three segments: (i) wholesale business, including wholesaling coffee and healthy drinks capsules, coffee brewing machines and health supplements and skin care products; (ii) retail selling coffee products and (iii) retail selling of coffee brewing machines. Starting from February 1, 2020, in an effort to control our cost and maximize our interest, we have shifted our business focus to the wholesale business only. As a result, we are no longer involved in the retailing business of selling coffee products and coffee brew machines. We have also stopped selling health supplements and skin care products.

~~None~~a. Wholesale of Coffee and Healthy Drinks Capsules

~~ITEM~~Coffee 2and healthy drinks capsules are our major products. ~~PROPERTIES~~We offer a wide variety of high-quality coffee and beverage items, mainly capsules of coffee and non-coffee drinks, that have strong demand and can be produced in bulk with standardized process and consistent quality. Although coffee products have a big market in China, China remains predominantly a tea-consuming nation and the coffee market is significantly unsaturated. With a deep understanding of the Chinese drinking culture that has a history of thousands of years, we give particular attention to selecting the premium raw materials to ensure the high quality of our products.

WeFrom ~~maintained~~the ~~our~~initial ~~principal~~research ~~office~~and atdevelopment ~~3906-~~of ~~3907~~products, ~~Vanke~~selecting ~~ITC~~and ~~Center~~purchasing raw materials, ~~Changan~~testing products and delivering the final products to our customers, ~~Dongguan~~our management team strictly monitor each of these procedures. For our coffee products, ~~China~~we ~~523845~~are in cooperation with KUBE Development Ltd. We(KUBE), ~~believe~~our ~~that~~sole ~~the~~coffee ~~condition~~beans supplier. For our health drink products, we endeavor to procure genuine and healthy raw materials in capsules, such as non-GMO (non-genetically modified organism) soy milk, Italian cocoa, golden flower dark tea, momordica grosvenori and dendrobium among others. All of our ~~principal~~suppliers ~~office~~have relevant certificates from the governments, such as isbusiness ~~satisfactory~~license and food selling permissions, ~~suitable~~to show their respective manufacturing capability. Afterwards, the materials will be put into a capsule as a final product which will be tested again by Société Générale de Surveillance (SGS), a world’s leading company of inspection, verification, testing and ~~adequate~~certification ~~for~~to ~~current~~ensure ~~needs~~that the quality of the final product meets our standards.

~~ITEM~~ 3~~. LEGAL PROCEEDINGS.~~

AsPrior to the COVID-19 pandemic, we sold our capsules through our brand stores (each a “Brand Store”, collectively the “Brand Stores”). To join us as a Brand Store, we will charge a one-time brand authorization fee. After becoming our Brand Store, we will grant it the rights to use our brand, Ka Su Le, and provided it with all of the ~~date~~materials (including different kinds of ~~this~~capsules) and equipment ~~report~~that are necessary to make our coffee and other healthy beverages (collectively, the ~~Company~~“Initiation isPackage”). ~~not~~In aaddition, we ~~party~~provide our Brand Stores with staff training and help them with the designing and decoration of their stores, setting up the equipment and other matters such as developing and shipping products. After paying the brand authorization fee, our Brand Stores will receive certain amount of coffee and healthy drinks capsules, included in their Initiation Package, enabling them to ~~any~~start their ~~legal~~business. ~~proceeding~~After that, ~~could~~if ~~reasonably~~the beBrand ~~expected~~Stores need more supplies of capsules, they will need to ~~have~~purchase ~~material~~them ~~impact~~from onour ~~its~~retail stores ~~operations~~or online store. Each of our Brand Stores is independent from us. Other than providing the Initiation Package and supplying our capsule products, we do not share interests with or ~~finances~~take responsibility for the loss of our Brand Stores.

~~ITEM~~In 4addition, in an effort to better promote our products and enhance our brand recognition, we used to work with and place our coffee machines free of charge in our cooperation stores before the pandemic (each a “Cooperation Store”, collectively the “Cooperation Stores”), including grocery stores, bakeries, super markets, shopping malls and other places with significant customer volume and high demand of coffee. ~~MINE~~The ~~SAFETY~~Cooperation ~~DISCLOSURES~~Stores can use our coffee machines free of charge with proper care and a commitment of selling a certain amount of brewed coffee and healthy drinks each month. Similar to our Brand Stores, the Cooperation Stores can purchase our capsules products from our retail stores or online store if they need additional supplies.

~~Not~~The global ~~applicable~~pandemic has posted significant challenges to us. Due to the lockdown policy and the economic downturn in China, many smaller businesses have ceased their operations, including those stores that used to work with us. As of the date of this report, all of our Brand Stores and approximately two thirds of our Cooperation Stores are closed. We are now shifting our business focus to wholesale business only and continue to provide our products to our clients that remain in operations. The management will continue to adjust our operating strategies to better fit the current economy situations and we believe our current priority is to seek new development opportunities while maintaining a low cost of operations.

2Our customers can purchase our capsules products from our online store through WeChat, one of the most popular messaging, social media and mobile payment apps in China. We are currently in the process of designing a Wechat Mini Program and we plan to launch it at the beginning of 2021. This program is designed to function to serve the purpose of E-mall and customer services. We also plan to develop our own app, hoping to provide with our customers with more options and convenience of online shopping. See below “Our Mobile Apps”.

~~PART~~b. IIWholesale of Coffee Brewing Machines

We ~~ITEM~~provide 5two types of coffee brewing machines with our customers – one for domestic use and the other is for commercial use. ~~MARKET~~We ~~FOR~~procure ~~REGISTRANT~~our brewing machines directly from Cino Technology (Shenzhen) Ltd. (“Cino”). Furthermore, we have agreed to use Cino’Ss fully ~~COMMON~~automatic ~~EQUITY~~capsule vending machine (under development) to expand our business distributions to areas with high demand for coffee, ~~RELATED~~such ~~STOCKHOLDER~~as ~~MATTERS~~office ~~AND~~buildings, ~~ISSUER~~commercial ~~PURCHASES~~areas OFand ~~EQUITY~~school ~~SECURITIES~~campuses. Cino provides one to two years of warranties of its brewing machines depending on the type of machine. It also provides training of installation and maintenance to our customer service division.

~~Market~~The ~~Information~~commercial brewing machine can be installed at our Brand Stores, restaurants and offices. This machine is designed to be user-friendly, enabling users to learn how to operate the machine in a few hours, and then make a drink in our standardized recipe.

Our common stock is currently quoted on the OTC Pink tier of the OTC Markets Group, an inter-dealer quotation and trading system under the symbol “GLBD”. These quotations reflect inter-dealer prices without retail mark-up, mark-down or commissions and may not reflect actual transactions.4

~~Holders~~Our ofbrewing ~~Our~~machines are ~~Common~~included ~~Stock~~in the Initiation Package for our Brand Stores and we are also providing them to our Cooperation Stores free of charge.

~~As of October 10, 2019, we had 16 holders of record of our common stock~~c. ~~There~~Health ~~were~~Supplements ~~5,000,000~~and ~~shares~~Skin ~~issued~~Care ~~and outstanding.~~Products

~~Outstanding~~Prior ~~Options,~~to ~~Conversions~~the pandemic, we offered several health supplements and skin care products made from Chinese ~~Planned~~traditional ~~Issuance~~herbs on our online store. We offer our online customers opportunities to join us as a “health product agent” if they purchase an aggregate of ~~Common~~RMB358 ~~Stock~~(approximately $51) worth of health products from our online store. Each of our health product agent will sign an agent agreement with us and then they will receive their own unique ID codes. Our health product agents have special discounts when they purchase our health products. In addition, each time they develop a new health product agent with their ID codes, they will receive awards points from us which can be then used to purchase health products in our online store. As of the date of this report, we no longer sell health supplements and skin care products.

AsOur ofStrategies ~~October 10, 2019, there were no warrants or options outstanding to acquire any shares of our common stock.~~

~~Dividends~~The ~~and~~key ~~Related~~elements ~~Policy~~of our strategy to grow our business include:

● Enhance our ability to attract, incentivize and retain talented professionals. We ~~have~~believe ~~not~~our ~~paid~~success ~~any cash~~greatly ~~dividends~~depends on our ~~common~~ability ~~stock~~to attract, incentivize and ~~have~~retain notalented ~~present~~professionals. ~~intention~~With ofa ~~paying~~view ~~any~~to ~~dividends~~maintaining onand improving our competitive advantage in the ~~shares~~market, ofwe ~~our~~plan ~~common~~to ~~stock.~~implement ~~Our future~~a ~~dividend~~series ~~policy~~of ~~will~~initiatives beto ~~determined~~attract ~~from~~additional ~~time~~and retain mid- to ~~time~~high-level bypersonnel, ~~our~~including ~~board~~formulating ofa ~~director~~market-oriented employee compensation structure and implementing a standardized multi-level performance review mechanism.

~~Transfer~~● ~~Agent~~Lower our operating expenses while pursuing new development opportunities. The global pandemic has posted significant challenges to us. Due to the lockdown policy and ~~Registrar~~the economic downturn in China, many smaller businesses have ceased their operations. Starting from February 1, 2020, in an effort to control our cost and maximize our interest, we have shifted our business focus to the wholesale business only. As a result, we are no longer involved in the retailing business of selling coffee products and coffee brew machines. We have also stopped selling health supplements and skin care products. The management will continue to adjust our operating strategies to better fit the current economy situations and we believe our current priority is to seek new development opportunities while maintaining a low cost of operations.

Our ~~transfer~~Mobile ~~agent is OTR, Inc., located at 1050 SW 6th Ave, Ste. 1230, Portland, OR 97204. Their telephone number is (503)2250375.~~Apps

~~Recent~~We ~~Sales~~are currently in the process of ~~Unregistered~~designing ~~Securities~~a Wechat Mini Program and we plan to launch it at the beginning of 2021. This program is designed to function to serve the purpose of E-mall and customer services. In particular, this program will be designed to cover the entire customer purchase process with user-friendly interfaces. Through this program, our customers can easily view various choice of beverage capsules, health product and accessories, place orders, make payment, check the shipping status and receive notifications of our promotions. We plan to create our own mobile apps with English, simplified Chinese and traditional Chinese versions in 2021.

We did not sell any equity securities which were not registered under the Securities Act during the year ended June 30, 2019. As disclosed above, on October 1, 2019, the Company entered into a Share Exchange Agreement with Well Benefit and the Shareholders of Well Benefit to acquire all of the issued and outstanding capital stock of Well Benefit in exchange for the issuance to the Shareholders an aggregate of 252,874,025 shares of Common Stock. The Reverse Merger is expected to be closed by the end of October 2019.5

Upon issuing these securities to the Shareholders, we will claim an exemption from the registration requirements of the Securities Act of 1933, as amended for the offering of the shares of our common stock to them pursuant to Regulation S promulgated thereunderProcurement

~~Purchases~~We source a variety of high-quality ~~Equity~~raw ~~Securities~~materials, byincluding ~~the~~coffee beans and coffee condiments, as well as beverage items, from selected suppliers. We ~~Issuer~~also purchase different machines, such as coffee machines and ~~Affiliated~~ice ~~Purchasers~~machines, packaging materials and other consumables in bulk from our suppliers. Due to our significant scale, we are able to procure high-quality products from our suppliers at favorable prices. We maintain good relationships with our suppliers.

~~None~~We have a dedicated procurement team responsible for the procurement of raw materials, machines and equipment, packaging materials and consumables based on inventory availability, number of stores and marketing events. Our senior management has designed stringent quality control standards and enforced comprehensive quality control measures covering supplier selection, quality inspection and testing.

~~Item~~Coffee ~~6. Selected Financial Data.~~ Beans

~~Not~~As ~~applicable.~~discussed above, we source premium coffee beans from renowned plantations in Colombia, Ethiopia and Indonesia through our supplier, KUBE

3We set detailed specifications for the raw coffee beans procured by our roasted coffee bean supplier, including size, taste and moisture based on their origin and grades. Together with KUBE, we screen for defected beans in each batch of raw coffee beans through sampling to ensure that they meet our specifications before admitting them to roasting.

~~ITEM~~We set the quality control 7standards for the testing process of roasted coffee beans. ~~MANAGEMENT’S~~We ~~DISCUSSION~~work ~~AND~~with ~~ANALYSIS~~KUBE OFand ~~FINANCIAL~~a ~~CONDITION~~third ~~AND~~party ~~RESULTS~~inspection OFagency ~~OPERATIONS~~(SGS) in testing the roasted coffee beans. KUBE conducts the first round of physical and chemical properties testing on the roasted coffee beans, and delivers the batches that passed the test to us. Upon receipt, we will conduct another round of similar testing together with a third-party inspection agency, and return any batch with high defect rate.

~~The following~~With isthe ~~management’s~~support ~~discussion and analysis~~ of ~~certain~~KUBE, we ~~significant factors which~~ have ~~affected~~developed our ~~financial~~own ~~position~~ and ~~operating~~unique ~~results~~coffee ~~during~~recipe ~~the~~and ~~periods~~we ~~included~~believe in the ~~accompanying~~taste ~~financial statements, as well as information relating to the plans~~ of our ~~current~~products ~~management~~is ~~and~~favored ~~should~~by bemost ~~read~~coffee ~~in conjunction with the accompanying financial statements and their related~~consumers ~~notes included~~ in ~~this report~~China. ~~References in this section to “we,” “us,” “our,” or the “Company” are to Global Seed Corporation.~~

~~The management’s~~Health ~~discussion~~Products and analysis contains forward-looking statements. Generally, the words “believes,” “anticipates,” “may,” “will,” “should,” “expects,” “intends,” “estimates,” “continues,” “project,” “goal,” “seek,” “strategy,” “future,” “likely,” and similar expressions or the negative thereof or comparable terminology are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including the matters set forth in this report or other reports or documents we file with the SEC from time to time, which could cause actual results or outcomes to differ materially from those projected. Undue reliance should not be placed on these forward-looking statements which speak only as of the date hereof. We undertake no obligation to update these forward-looking statements unless required by the applicable rules and regulations.Ingredients

~~BUSINESS~~We also procure many ~~OVERVIEW~~health products ingredients, such as, non-GMO soy milk, Italian cocoa, golden flower dark tea, momordica grosvenori and dendrobium, from reputable suppliers throughout China. We mix these ingredients following our special formula after repeated testing and created our own recipe of drinks. Our health products have been popular among our customers, especially among those who are from western countries.

Global Seed Corporation was incorporated in the State of Texas on July 13, 2010. We had been engaged principally in the distribution of a monthly journal prior to our change in control consummated on June 2, 2018. As discussed above, on October 1, 2019, we entered into a Share Exchange Agreement with a British Virgin Islands company and its shareholders to acquire all of its issued and outstanding shares. Upon closing of the Reverse Merger, we plan to engage in the business of selling coffee and other healthy beverage products.6

~~Given our~~Coffee current stage of development, we have not yet established commercial organization or distribution capabilities. We plan to build up a national network for selling coffee and other healthy beverage products after we close the Reverse Merger. Condiments

~~CRITICAL~~Coffee condiments, mainly ~~ACCOUNTING~~dairy ~~POLICIES~~products and syrup, ~~ESTIMATES~~are ~~AND~~crucial ~~ASSUMPTIONS~~to the overall quality of our coffee. We source our dairy products, mainly milk and cream, from leading suppliers to ensure their freshness and syrup mainly from distributors of imported syrup. Similar to coffee beans, we have in place stringent quality control measures regarding coffee condiments. For example, we work with our dairy suppliers to have the dairy products tested by SGS.

~~The discussion~~Packaging ~~and~~Materials ~~analysis of our financial condition~~ and ~~results of operations are based upon our financial statements, which have~~Other been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of our financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Actual results could differ materially from those estimates.Consumables

~~Our~~In addition to coffee ~~audited~~and ~~financial~~beverage ~~statements~~items, we procure a broad range of paper and ~~the~~plastic ~~notes~~products, ~~thereto~~such ~~contain~~as ~~more~~cups, ~~details~~straws and cutlery, from a number of suppliers. ~~critical~~We ~~accounting~~inspect ~~policies~~the categories, specifications and qualities of our packaging materials and other ~~disclosures~~consumables supplies against ~~required~~our bystandards ~~U.S.~~set ~~GAAP~~out in the respective supply agreements and quality guarantee agreement.

~~RESULTS~~The manufacturer of our OFcapsule ~~OPERATIONS~~products followed he standard in the process of making the capsules. The final products will be tested again by SGS to ensure that their quality meets our standards.

~~Revenue~~Our Store Network

NoAs discussed above, before ~~revenue~~the ~~was~~pandemic, ~~generated~~we typically locate our stores in areas with high demand for coffee, such as office buildings, bakeries, shopping malls and residential areas. As of December 31, 2020, we have seven stores located in Guangdong Province, Jilin Province and Chongqing City, including two of our own retail stores and five Brand Stores. We also have worked with and placed our coffee machines into over 400 Cooperation Stores Guangdong, Jilin and Chongqing. However, due to the ~~years~~global ~~ended~~pandemic, ~~June~~as 30of the date of this report, all ~~2019~~of our Brand Stores and ~~2018~~approximately two thirds of our Cooperation Stores are closed due to COVID-19.

~~General and~~Our ~~Administrative Expenses~~Customers

~~General and~~The ~~administrative~~customers ~~expenses~~of ~~for~~our coffee ~~the~~and ~~years~~healthy ~~ended~~drinks ~~June~~products ~~30,~~comprise ~~2019~~mainly of companies and ~~2018~~beverage ~~amounted~~stores tolocated ~~$47,662~~in ~~and~~Guangdong ~~$10~~Province,~~611,~~ ~~respectively.~~Jilin ~~The general~~Province and ~~administrative~~Chongqing ~~expenses~~City ~~for~~in ~~the two periods primarily represent professional fees incurred for SEC filings~~China.

~~Net~~The following table sets ~~Loss~~forth information as to each customer that accounted for 10% or more of the Company’s revenues for the years ended December 31, 2019 and 2018.

For the years ended June 30, 2019 and 2018, net losses were $47,756 and $12,932 respectively. The Company continues to carefully control its expenses and overall costs as it moves its business development plan forward.

Customers	2019				2018
	Amount		%		Amount		%
Dong Guan Humen Kasule Food and Drink Company	$	11,274		5.75		3,879		23.52
Dongguan Kasule Food and Drink Limited Company	$	3,048		1.56		5,099		30.92
Dong Guan Sun Sun Trading Investment Limited Company	$	72,444		36.98		-		-

~~PLAN OF~~Intellectual ~~OPERATION~~Property

We develop and protect our intellectual property portfolio by registering our trademarks, copyrights and domain names. As of the date of this report, we have one registered trademark with the Trademark Office of ~~June~~the 30PRC State Administration for Industry & Commerce (the “Trademark Office”) with an effective period from May 28, 2019 to May 27, we2029 ~~had~~and atwo ~~stockholders’~~domain ~~deficiency~~names (www.agilityholding.com and www.capsulemall.cn) with Ministry of ~~$47~~Industry and Information Technology with effective periods from August 4,~~530~~ 2018 to August 4, 2020 and from September 17, 2018 to September 17, 2020, respectively. In addition, we have 13 registered trademarks and 3 pending trademark applications pending with the Trademark Office.

~~We have~~In ~~not~~addition, ~~generated~~we ~~any~~entered into ~~revenues~~standard ~~and~~employee ~~have~~confidentiality ~~relied~~agreement onwith ~~shareholder advances to finance~~ our ~~operating~~technology ~~and~~development ~~capital~~employees, ~~expenses.~~which Weprovides ~~have incurred~~that ~~operating~~the ~~losses~~employees ~~since inception. The working capital requirements of any new business activities may be substantial~~own ~~and~~confidentiality ~~may~~obligations ~~depend~~in onrelation ~~the~~to ~~terms of~~ our ~~potential~~trade ~~acquisitions,~~and ~~whether~~technology ~~for stock, debt or cash, or a combination, as appropriate~~secrets.

As discussed above, we are expecting to close the Reverse Merger by the end of October 2019, upon which we plan to engage in the business of selling coffee and other healthy beverage products. However, there can be no assurance that the closing will happen as planned, or at all.Seasonality

~~LIQUIDITY~~We experience seasonality ~~AND~~in ~~CAPITAL~~our ~~RESOURCES~~business, reflecting seasonal fluctuations in food productions and storages. For example, we generally experience lower transaction volumes during national holidays in China, particularly during the Chinese New Year holiday season in the first quarter of each year.

~~As of June 30, 2019, we had no assets. We do not have any third-party banking or financing agreements in place to provide us with a source of liquidity.~~Employees

~~GOING~~As of December 31, 2019, we had 45 full-~~CONCERN~~time employees and no part-time employees. The departments cover, sales and marketing, administration, customer ~~CONSIDERATION~~service, logistics, storage, rear service, procurement, accounting, design, public relationship, intellectual technology, research and development and human resources. We are required under PRC law to make contributions to employee benefit plans for our PRC-based full-time employees at specified percentages of the salaries, bonuses and certain allowances of such employees, up to a maximum amount specified by the local governments in China and we also are required to make contributions to the work-related injury insurance for the part-time employees. We maintain a good working relationship with our employees, and as of the date of this report, we have not experienced any material labor disputes in the past. None of our employees are represented by labor unions.

~~Our independent~~Competitive ~~auditors~~Strength included an explanatory paragraph in their report on the accompanying financial statements regarding concerns about our ability to continue as a going concern. Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

~~The~~We ~~Company’s financial statements~~ are ~~prepared~~dedicated ~~using U.S. GAAP~~ to aserving ~~going~~our ~~concern, which contemplates the realization of assets and liquidation as of liabilities in the normal course of business~~customers. ~~The Company has accumulated losses of $128,125 as of June 30, 2019. The Company had~~ noWe ~~cash~~believe at June 30, 2019. Management’s plans to continue as a going concern include raising additional capital through sales of Common Stock and to consummate the Reverse Merger. However, management cannot provide any assurances that the ~~Company~~following ~~will~~strengths ~~be successful~~contribute ~~in accomplishing any of its plans. The ability of the Company~~ to ~~continue~~our assuccess aand ~~going~~are ~~concern is dependent upon its ability to successfully accomplish~~ the ~~plans~~differentiating ~~described~~factors ~~above and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments~~ that ~~might~~set beus ~~necessary~~apart iffrom ~~the Company is unable to continue~~our ~~as a going concern~~peers.

~~OFF-BALANCE SHEET~~● ~~ARRANGEMENTS~~Leading and fastest growing player focusing on capsule coffee in China: we believe that we are a pioneer that develops a taste for coffee in a society with brisk reverence for tea by offering our customers with convenient capsule coffee, enabling them to make tasty coffee easily.

~~The Company~~● ~~has~~superior nocustomer ~~material~~propositions: ~~transactions,~~Our ~~arrangements,~~commitment ~~obligations~~to orquality ~~other~~is ~~relationships~~uncompromising. ~~with~~We ~~entities~~source orpremium ~~other~~coffee ~~persons~~beans ~~that~~from ~~have or~~a ~~are~~prominent ~~reasonably~~supplier ~~likely~~and work with an experienced team to ~~have~~design aour ~~material~~coffee ~~current~~recipes. orWe ~~future~~also ~~impact~~implement onstringent ~~its~~quality ~~financial~~control ~~condition,~~procedures ~~changes~~and inprocesses ~~financial~~across ~~condition, results~~our ofsupply ~~operations~~chain, ~~liquidity,~~from ~~capital~~procurement ~~expenditures,~~to ~~capital~~inventory ~~resources~~and logistics, oras ~~significant~~well ~~components~~as ofin ~~revenues~~our orday-to-day ~~expenses,~~ operations. We are able to offer affordable coffee capsule and other ~~than~~high-quality ~~those~~products ~~disclosed~~because ~~above~~we have achieved sustainable cost advantages.

~~Item~~Competition ~~7A. QUANTITATIVE AND QUALITATIVE DISCLOURES ABOUT MARKET RISK.~~

~~Not~~We ~~applicable~~integrated many components to create our unique business model which enables us to quickly spread out our coffee and healthy drinks to the market. For those that choose to join us as our Brand Stores, we offer them not only the authorization to use our brand, but also support them with all materials, equipment and even staff training and store decoration guidance to start their business. At the same time, our customers can transfer their roles and become part of our team through various channels, including becoming a health product agent after purchasing certain amount of health products on our online store. In addition, we are creatively expanding our store network by providing coffee machines free of charge to other established stores. Although we are not aware of many famous brands in this field with similar business model, we still face intense competition in China’s coffee industry. Our current or potential competitors are mainly coffee shop operators.

~~ITEM~~We 8.believe ~~FINANCIAL~~that ~~STATEMENTS~~the ~~AND~~principal competitive ~~SUPPLEMENTARY~~factors ~~DATA~~in China coffee industry include the following:

~~The~~● ~~Company’s~~Product ~~financial~~quality ~~statements~~ and ~~the related notes, together with the report of WWC, P.C., are set forth following the signature pages of this report.~~safety;

~~ITEM~~● 9.Product ~~CHANGE IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES~~pricing;

~~None.~~● Supply chain management and operating efficiency;

~~ITEM~~● ~~9A.~~Quality ~~CONTROLS~~of ~~AND~~customer ~~PROCEDURES~~services;

We● ~~maintain~~Brand ~~disclosure controls~~recognition and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. This information is accumulated to allow our management to make timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and our management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.reputation;

~~Our~~● ~~management,~~Effectiveness including our principal executive officer and principal accounting officer, does not expect that our disclosure controls or our internal controls over financial reporting will prevent all error and fraud. A control system, no matter how well conceived and operated, can provide only reasonable, but not absolute, assurance that the objectives of asales ~~control system are met. Further, any control system reflects limitations on resources~~ and the benefits of a control system must be considered relative to its costs. These limitations also include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of a control. The design of a control system is also based upon certain assumptions about potential future conditionsmarketing; over time controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and ~~may not be detected.~~

As● ofCustomer June 30, 2019, the year covered by this report, we carried out an evaluation, under the supervision and participation of our management, including our principal executive officer and our principal financial officer, to determine the effectiveness of the design and operation of our disclosure controls and proceduresexperience. ~~Based on the foregoing, our Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of the end of the year covered by this report.~~

~~Management’s~~Our ~~Report~~competitors onmay ~~Internal Control~~have ~~over~~longer ~~Financial~~operating ~~Reporting~~history, greater brand recognition, more capital, better supplier relationships and larger customer base.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (“ICFR”) as defined in Rule 13a-15(f) under the Exchange Act. Our management assessed the effectiveness of our ICFR as of June 30, 2019. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control-Integrated Framework in 2013 (the “2013 COSO Framework”). A material weakness is a deficiency or a combination of deficiencies, in ICFR, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. We have identified the following material weaknesses.9

6Compliance, Licenses and Permits

1.For Ascompliance ofrequirements related ~~June~~to ~~30,~~our ~~2019~~business, weincluding ~~did~~applicable ~~not~~licenses ~~maintain effective controls over the control environment. Specifically, we have not developed a framework for accounting policies~~ and ~~procedures given we have only one officer~~permits, ~~Further,~~see ~~the Board of Directors does not currently have any independent members and no director qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of~~ “Regulation ~~S-K~~. ~~Since these entity level programs have a pervasive effect across the organization, management has determined that these circumstances constitute a material weakness.~~”

2.Environmental AsLaw of June 30, 2019, we did not maintain effective controls over financial statement disclosure. Specifically, controls were not designed and in place to ensure that all disclosures required were originally addressed in our financial statements. Accordingly, management has determined that this control deficiency constitutes a material weakness.Compliance

~~Because~~We ofbelieve ~~these~~that ~~material~~our manufacturing ~~weaknesses,~~facilities ~~our~~are ~~Chief~~currently ~~Financial~~operating ~~Officer~~under ~~has~~compliance ~~concluded~~with ~~that~~local, ~~the~~state, ~~Company~~and ~~did~~federal ~~not~~environmental ~~maintain~~laws. ~~effective~~We ~~internal~~plan ~~control~~to ~~over~~continue ~~financial~~acquiring ~~reporting~~environmental-oriented asequipment ofand ~~June~~incurring ~~30,~~the ~~2019,~~expenditures ~~based~~we ondeem ~~the~~necessary ~~criteria~~for ~~established~~compliance inwith ~~2013~~applicable ~~COSO Framework~~laws. ~~Due~~Expenditures relating to ~~the~~compliance ~~size~~for ~~and~~operating ~~operations~~facilities ofincurred in the ~~Company,~~ wepast ~~are~~have ~~unable~~not tosignificantly ~~remediate~~affected ~~these~~our ~~deficiencies~~capital ~~until~~expenditures, earnings ~~we acquire~~ or ~~merge~~competitive ~~with another company~~position.

~~The~~Legal Company believes that the financial statements fairly present, in all material respects, the Company’s balance sheets as of June 30, 2019 and 2018 and the related statements of operations and comprehensive loss, stockholders’ deficiency, and cash flows for the years ended June 30, 2019 and 2018 in conformity with U.S. GAAP, notwithstanding the material weaknesses we identified.Proceedings

~~This~~From ~~annual~~time ~~report~~to time, we onare ~~Form~~subject ~~10-K~~to ~~does~~legal ~~not~~proceedings ~~include~~and anclaims ~~attestation~~arising ~~report~~in the ordinary course of ~~the~~our ~~Company’s~~business. ~~registered~~As ~~public~~of ~~accounting~~the ~~firm~~date ~~regarding~~of ~~ICFR.~~this ~~Management’s~~ report, ~~was~~we were not ~~subject~~involved toin ~~attestation~~any bylitigation, ~~the~~arbitration ~~Company’s~~or ~~registered~~administrative ~~public~~proceedings ~~accounting~~pending ~~firm~~or, ~~pursuant~~ to ~~Section~~our ~~989G~~knowledge, ofthreatened ~~the~~against ~~Dodd-Frank~~us that ~~Wall~~could ~~Street~~have ~~Reform~~a material and ~~Consumer~~adverse ~~Protection~~effect ~~Act~~on ~~that~~our ~~permit~~business, ~~the~~financial ~~Company~~condition toor ~~provide~~results ~~only~~of ~~management’s report in this report~~operations.

~~Changes in Internal Control Over Financial Reporting~~Insurance

~~There~~We ~~had~~provide ~~been~~social ~~no changes~~security ininsurance ~~the~~including ~~Company’s~~medical ~~ICFR~~insurance, ~~identified~~maternity ininsurance, ~~connection~~workplace ~~with~~injury ~~the~~insurance, ~~above~~unemployment ~~evaluation~~insurance ~~that~~and ~~occurred~~pension ~~during~~benefits for ~~the~~our ~~last~~employees. ~~fiscal~~Consistent ~~quarter~~with ~~that~~customary ~~has materially~~industry ~~affected~~practice in China, orwe isdo ~~reasonably~~not ~~likely~~maintain tobusiness ~~materially~~interruption ~~affect~~insurance, ~~the~~nor do ~~Company’s~~we ~~ICFR~~maintain product liability insurance or key-man life insurance.

ITEM 9B1A. ~~OTHER~~RISK ~~INFORMATION~~FACTORS.

~~None~~We are a smaller reporting company and therefore this item is not applicable to us.

7ITEM 1B. UNSOLVED STAFF COMMENTS.

~~PART~~Not ~~III~~applicable.

ITEM 102. ~~DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERANCE~~PROPERTIES.

~~Information~~We ~~about~~maintained our principal ~~directors~~office ~~and~~at ~~executive~~3905, ~~officers~~Vanke asITC ofCenter, Changan, Dongguan, China 523845. We believe that the ~~date~~condition of ~~this~~our ~~report~~principal office is ~~set~~satisfactory, suitable ~~forth~~and asadequate ~~follows~~for current needs.

Name	Position Held with our Company	Age	Date First Elected or Appointed
Leung Kwok Hei	Director & CEO	33	June 1, 2018
Chan Hiu	Director & CFO	46	June 1, 2018

ITEM 3.

LEGAL PROCEEDINGS.

~~Leung~~As ~~Kwok~~of ~~Hei,~~the date of this ~~director~~report, ~~and~~the ~~CEO~~ Company is not a party to any legal proceeding that could reasonably be expected to have material impact on its operations or finances.

~~Mr.~~ITEM ~~Leung, age 33, has been serving as Chief Operating Officer of Zheng Gong Trading Ltd Co in DongGuan, China since 2016~~4. ~~Prior~~MINE toSAFETY ~~that, He was a sales manager of Amadio Wines China at Dongguan, China from 2013 to 2016 and an assistant manager of Vancouver Chinatown Merchants Association from 2006 to 2011~~DISCLOSURES. ~~Mr. Leung studied Criminology in Simon Fraser University at Vancouver, BC.~~

~~Chan~~Not ~~Hiu, director and CFO~~ applicable.

Mr. Chan, age 46, has been serving as Financial Controller of Zheng Gong Trading Ltd Co in DongGuan, China since 2016. Mr. Chan was a financial advisor of Shenzhen Long Fu Capital based in Shenzhen, China from 2009 to 2016, and he consulted with clients for financial needs and helped them develop marginal investment plans. Prior to that, He was an owner and financial controller of Motoring Concept Distribution in Orlando, Florida from 2001 and 2008. Mr. Chan received his Bachelor of Business Accounting degree from University of Central Florida in Orlando, Florida in 2000. 10

~~Meetings~~PART ~~of Our Board of Directors~~II

~~Our~~ITEM ~~board of~~5. ~~directors~~MARKET ~~(the~~FOR ~~“Board”)~~REGISTRANT’S ~~took~~COMMON ~~all~~EQUITY, ~~actions~~RELATED bySTOCKHOLDER ~~written~~MATTERS ~~consent~~AND ~~during~~ISSUER ~~the~~PURCHASES ~~years~~OF ~~ended~~EQUITY ~~June 30, 2019~~SECURITIES.

~~Significant~~Market ~~Employees~~Information

~~Other~~Our ~~than~~common ~~the~~stock ~~director~~is ~~and~~currently ~~officer~~quoted ~~described~~on ~~above~~the OTC Pink tier of the OTC Markets Group, wean dointer-dealer ~~not~~quotation ~~expect~~and ~~any~~trading ~~other~~system ~~individuals~~under tothe ~~make~~symbol a“GLBD”. These ~~significant~~quotations ~~contribution~~reflect tointer-dealer ~~our~~prices ~~business~~without retail mark-up, mark-down or commissions and may not reflect actual transactions.

~~Involvement~~Holders inof ~~Legal~~Our ~~Proceedings~~Common Stock

~~None~~As of ~~our~~October ~~directors~~8, ~~persons~~ ~~nominated to become a director~~2020, we ~~executive~~had ~~officers~~29 orholders ~~control~~of ~~persons~~record ~~have~~of ~~been~~our ~~involved~~common instock. ~~any~~There ofwere ~~the~~257,874,025 ~~following~~shares ~~events during~~issued ~~the~~and ~~past 10 years:~~outstanding.

●Outstanding ~~Any~~Options, ~~bankruptcy~~Conversions, ~~petition~~and Planned ~~filed~~Issuance ~~by or against any business~~ of ~~which~~Common ~~such person was a general partner or executive officer either at the time of bankruptcy or within two years prior to that time; or~~Stock.

●As ~~Any~~of ~~conviction~~October in8, a2020, there ~~criminal~~were ~~proceeding~~no warrants or ~~being~~options ~~subject~~outstanding to aacquire ~~pending~~any ~~criminal~~shares ~~proceeding~~of ~~(excluding~~our ~~traffic~~common ~~violations and other minor offences); or~~stock.

●Dividends ~~Being~~and ~~subject~~Related to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; orPolicy

●We ~~Being~~have ~~found~~not bypaid aany cash ~~court~~dividends ofon ~~competent~~our ~~jurisdiction~~common ~~(in~~stock aand ~~civil~~have ~~violation),~~no ~~the~~present ~~SEC~~intention orof ~~the~~paying ~~Commodity~~any ~~Future~~dividends ~~Trading~~on ~~Commission~~the toshares ~~have~~of ~~violated~~our acommon ~~federal~~stock. orOur future ~~state~~dividend ~~securities~~policy orwill ~~commodity~~be ~~law,~~determined ~~and~~from ~~the~~time ~~judgment~~to ~~has~~time ~~not~~by ~~been~~our ~~reversed,~~board ~~suspended,~~of ~~or vacated; or~~director.

● Being the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of: any Federal or State securities or commodities law or regulation; or any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity. This violation does not apply to any settlement of a civil proceeding among private litigants; or11

●Transfer ~~Being~~Agent ~~the~~and subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.Registrar

8Our transfer agent is OTR, Inc., located at 1050 SW 6th Ave, Ste. 1230, Portland, OR 97204. Their telephone number is 503.225.0375.

~~Section~~Recent ~~16(a)~~Sales ~~Beneficial~~of ~~Ownership~~Unregistered ~~Reporting Compliance~~Securities

~~Section~~As ~~16(a)~~disclosed ~~of the~~above, ~~Exchange~~on ~~Act~~October ~~requires~~1, ~~that our executive officers and directors~~2019, ~~and~~the ~~persons~~Company ~~who~~entered ~~own~~into ~~more than ten percent of~~ a ~~registered~~Share ~~class of~~Exchange ~~our~~Agreement ~~equity~~with ~~securities,~~Well ~~file~~Benefit ~~reports of ownership and changes in ownership with~~ the ~~SEC.~~Shareholders ~~Executive~~of ~~officers,~~Well ~~directors~~Benefit ~~and greater-than-ten~~acquire ~~percent stockholders are required by SEC regulations to furnish us with~~ all ~~Section 16(a) forms they file. Based solely on our review~~ of the ~~copies~~issued ~~of the forms received by us~~ and ~~written~~outstanding ~~representations~~capital ~~from~~stock ~~certain~~of ~~reporting~~Well ~~persons~~Benefit ~~that~~in ~~they~~exchange ~~have~~for ~~complied with~~ the ~~relevant~~issuance ~~filing~~to ~~requirements, we believe that, during~~ the ~~year~~Shareholders ~~ended~~an ~~June~~aggregate 30of 252, ~~2019~~874,025 ~~Mr.~~shares ~~Leung~~of ~~Kwok~~Common ~~Hei, Mr~~Stock. ~~Chan~~The ~~Hiu, Mr.~~Reverse ~~Leung~~Merger ~~Siu~~is ~~Hung~~expected ~~and~~to ~~Ms.~~be ~~Chi~~closed ~~Siu~~by ~~On filed their respective Form 3 on July 12, 2018, subsequent to~~ the ~~triggering~~end ~~date~~ of ~~June 1,~~October ~~2018~~2019.

~~Code~~In December 2019, the Company closed private placements for the sales of ~~Ethics~~certain convertible notes. The Company has received in total $280,000 net proceeds from six convertible note holders pursuant to six notes. In addition, from January 2020 to March 2020, the Company closed private placements for the sales of four additional convertible notes for total proceeds of $430,000. Each of these notes bears 15% annual interest and payable at maturity, which is thirty (30) months from the issuance dates. Each note holder has the right, at the holder’s option, to convert all or any portion of the outstanding principal of the note to the Company’s common stock. The applicable conversion price is the average stock price, based on a 30-trading-date period prior to the conversion, with 20% discount.

WeThe ~~currently~~Company domay not ~~have~~redeem athese ~~Code~~notes ofat ~~Ethics~~its ~~because~~option weat ~~presently~~any ~~only~~time ~~have~~before ~~limited~~the ~~size~~first ofyear ~~the~~anniversary ~~Board~~from ~~and~~the ~~management~~issuance date. WeAfterward, ~~plan~~the toCompany ~~adopt~~may elect ato ~~Code~~redeem ofall ~~Ethics when~~or ~~the~~any ~~size~~portion of the ~~Board~~notes ~~and~~with ~~management~~purchase ~~increases~~price including premium determined by the redemption schedule.

~~Board~~Upon ~~Committees~~issuing these securities discussed above, we claimed an exemption from the registration requirements of the Securities Act of 1933, as amended for the offering these securities pursuant to Regulation S promulgated thereunder.

~~The~~Purchases ~~Company does not have an audit committee or an audit committee financial expert (as defined in Item 407~~ of ~~Regulation~~Equity ~~S-K)~~Securities ~~serving~~by ~~on its Board.~~the ~~The~~Issuer ~~Company~~and ~~has~~Affiliated ~~not yet employed an audit committee financial expert on its Board due to the inability to attract such a person~~Purchasers.

~~The Company intends to establish an audit committee of the Board, which will consist of independent directors~~None. The audit committee’s duties will be to recommend to the Company’s Board the engagement of an independent registered public accounting firm to audit the Company’s financial statements and to review the Company’s accounting and auditing principles. The audit committee will review the scope, timing and fees for the annual audit and the results of audit examinations performed by the internal auditors and independent registered public accounting firm, including their recommendations to improve the system of accounting and internal controls. The audit committee will at all times be composed exclusively of directors who are, in the opinion of the Company’s Board, free from any relationship which would interfere with the exercise of independent judgment as a committee member and who possess an understanding of financial statements and generally accepted accounting principles.

9Securities Authorized for Issuance under Equity Compensation Plans

~~ITEM 11~~None. ~~EXECUTIVE COMPENSATION~~

~~Summary~~Item ~~Compensation~~6. ~~Table~~Selected Financial Data.

~~The~~Not Summary Compensation Table shows certain compensation information for services rendered in all capacities for the fiscal year ended June 30, 2019 and 2018. No executive officer’s salary and bonus exceeded $100,000 in any of the applicable ~~years~~. ~~The following information includes the dollar value of base salaries, bonus awards, the number of stock options granted and certain other compensation, if any, whether paid or deferred.~~

Name and Principal Position	Year	Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non-Equity Incentive Plan Compensation ($)		Nonqualified Deferred Compensation ($)		All Other Compensation ($)		Total ($)
Leung Kwok Hei, CEO	2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
	2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
Chan Hiu, CFO	2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
	2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-

~~Director~~ITEM ~~Compensation~~7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS.

~~Directors~~The ~~are~~following ~~permitted~~discussion ~~to receive fixed fees~~ and ~~other~~analysis ~~compensation~~should ~~for~~be ~~their~~read ~~services as directors. The Board has the authority to fix the compensation of directors. No amounts have been paid to, or accrued to, directors~~ in ~~such~~conjunction ~~capacity~~with asour offinancial ~~the~~statements ~~date~~and ofrelated ~~this~~notes ~~report~~thereto.

~~ITEM~~CAUTIONARY ~~12.~~STATEMENT ~~SECURITY~~REGARDING ~~OWNERSHIP~~FORWARD-LOOKING ~~OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.~~STATEMENTS

~~The~~This ~~following~~report ~~table~~contains ~~sets~~certain ~~forth~~statements ~~certain~~that ~~information~~may ~~regarding~~be ~~beneficial~~deemed ~~ownership~~“forward-looking statements” within the meaning of ~~shares~~United States of ~~our~~America ~~common~~securities laws. ~~stock~~All asstatements, other than statements of ~~October~~historical 10fact, ~~2019~~that address activities, byevents ~~(i)~~or ~~each person~~developments ~~known~~that towe ~~beneficially~~intend, expect, ~~own~~project, ~~more~~believe ~~than~~or 5%anticipate ofand ~~our~~similar ~~outstanding~~expressions ~~common~~or ~~stock,~~future ~~(ii)~~conditional ~~each~~verbs ofsuch ~~our~~as ~~directors~~will, ~~(iii)~~should, ~~each~~would, ofcould ~~our named~~or ~~executive~~may ~~officers,~~occur ~~and~~in ~~(iv)~~the ~~all~~future ofare ~~our~~forward-looking ~~directors~~statements. ~~and~~Such ~~executive~~statements ~~officers~~are asbased aupon ~~group.~~certain ~~Except~~assumptions asand ~~otherwise~~assessments ~~indicated,~~made by ~~the~~our ~~persons named~~management in ~~the~~light ~~table~~of ~~below~~their ~~have~~experience ~~sole~~and ~~voting~~their ~~and~~perception ~~investment~~of ~~power~~historical ~~with~~trends, ~~respect~~current toconditions, ~~all~~expected ~~shares~~future ~~beneficially~~developments and ~~owned,~~other ~~subject~~factors tothey ~~community property~~believe ~~laws,~~to ~~where~~be ~~applicable~~appropriate.

Title of Class	Beneficiary Owner (1)	Number of Shares		% of Ownership (1)
Executive Officers and Directors
Common Stock	Leung Kwok Hei		789,000		15.8	%
Common Stock	Chan Hiu		789,000		15.8	%
All Officers and Directors (2 persons)			1,578,000		31.6	%
Owner of more than 5% of Class
Common Stock	Leung Siu Hung		789,000		15.8	%
Common Stock	Chi Siu On		2,125,000		42.5	%

These statements include, without limitation, statements about our anticipated expenditures, including those related to general and administrative expenses; the potential size of the market for our services, future development and/or expansion of our services in our markets, our ability to generate revenues, our ability to obtain regulatory clearance and expectations as to our future financial performance. Our actual results will likely differ, perhaps materially, from those anticipated in these forward-looking statements as a result of various factors, including: our need and ability to raise additional cash. The forward-looking statements included in this report are subject to a number of additional material risks and uncertainties, including but not limited to the risks described in our filings with the Securities and Exchange Commission.

~~(1)~~You ~~Each~~should ~~beneficial~~review ~~owner~~this section ~~has~~with ~~sole~~our ~~power~~financial statements and the related notes to ~~vote~~those ~~and~~statements ~~dispose~~included ofin ~~its~~this ~~shares~~filing. ~~and~~In ~~the~~addition ~~address~~to ofhistorical financial ~~each~~information, ~~beneficial~~this ~~owner~~discussion ismay ~~3906~~contain forward-looking ~~3907,~~statements ~~Vanke~~reflecting ~~ITC~~our ~~Center~~current plans, ~~Chang’an~~estimates, ~~Dongguan~~beliefs and expectations that involve risks and uncertainties. As a result of many important factors, ~~China~~our ~~523845~~actual results and the timing of events may differ materially from those anticipated in these forward-looking statements.

~~ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE~~Overview

~~There~~Global ~~were~~Seed noCorporation (the ~~related~~“Company”) was incorporated in the State of Texas on July 13, 2010. We had been engaged principally in the distribution ~~transactions~~of ~~with~~a monthly journal prior to our ~~director~~change in control consummated on June 2, ~~executive~~2018. ~~officer~~On October 1, or2019, ~~stockholder~~the ~~holding~~Company atentered ~~least~~into 5%a share ofexchange agreement (the “Share Exchange Agreement”) by and among Well Benefit International Limited (“Well Benefit”) and its shareholders (the “Shareholders”), whereby the Company newly issued 252,874,025 shares of ~~our~~ its common stock, orto ~~any~~the ~~family member~~Shareholders ~~thereof~~in ~~during~~exchange for all the ~~years~~outstanding ~~ended~~ordinary ~~June~~shares of Well Benefit. On October 30, 2019, the reverse merger transactions contemplated under the Share Exchange Agreement closed and ~~2018~~we ~~that~~acquired ~~exceeds~~all ~~$120~~of the issued and outstanding shares of Well Benefit (the transaction,~~000~~ the “Reverse Merger”). Dongguan Zhenghao Industrial Investment Company Limited (“Zhenghao”), a company formed under the laws of the People’s Republic of China (“PRC”), is a wholly-owned subsidiary of Well Benefit. Zhenghao provides healthy coffee and beverage products to customers in China.

As disclosed above, on October 1, 2019, the Company entered into a Share Exchange Agreement with Well Benefit and the Shareholders of Well Benefit to acquire all of the issued and outstanding capital stock of Well Benefit in exchange for the issuance to the Shareholders an aggregate of 252,874,025 shares of Common Stock. Mr. Leung Kwok Hei and Mr. Chan Hiu are among the Shareholders and will respectively receive 10,880,000 shares and 10,090,000 shares of Common Stock of the Company upon closing of the Reverse Merger in accordance with the Share Exchange Agreement.13

10As a result of the Reverse Merger, Zhenghao became our wholly-owned subsidiary, and we transitioned our business focus to providing healthy coffee and beverage products to customers in China through Zhenghao under its established brand, “Ka Su Le”. Our business comprises of three segments: (i) wholesale business, including wholesaling coffee and healthy drinks capsules, coffee brewing machines and health supplements and skin care products; (ii) retail selling coffee products and (iii) retail selling of coffee brewing machines. Starting from February 1, 2020, in an effort to control our cost and maximize our interest, we have shifted our business focus to the wholesale business only. As a result, we are no longer involved in the retailing business of selling coffee products and coffee brew machines. We have also stopped selling health supplements and skin care products.

~~ITEM~~The 14global pandemic has posted significant challenges to us. ~~PRINCIPAL~~Due ~~ACCOUNTING~~to ~~FEES~~the ~~AND~~lockdown ~~SERVICES~~policy and the economic downturn in China, many smaller businesses have ceased their operations, including those stores that used to work with us. As of the date of this report, all of our Brand Stores and approximately two thirds of our Cooperation Stores are closed. We are now shifting our business focus to wholesale business only and continue to provide our products to our clients that remain in operations. The management will continue to adjust our operating strategies to better fit the current economy situations and we believe our current priority is to seek new development opportunities while maintaining a low cost of operations.

OnEconomic ~~August 12, 2019, we dismissed M&K CPAS, PLLC (“M&K”) as our independent registered public accounting firm~~ and onPolitical ~~the same date, we engaged WWC, P.C. (“WWC”) as our new independent registered public accounting firm.~~Risks

The ~~following~~outbreak ~~table~~of the ~~shows~~novel coronavirus, commonly referred to as “COVID-19”, first found in mainland China, then in Asia and eventually throughout the ~~fees~~world, ~~that~~has wesignificantly ~~paid~~affected ~~for~~business ~~audit~~and manufacturing activities within China, including travel restrictions, widespread mandatory quarantines, and ~~other~~suspension ~~services~~of ~~provided~~business byactivities ~~M&K~~within China. These government mandates may cause severe business disruptions to our customers and suppliers, and may also lead to postponement of payment from these parties. Our business operation was suspended until early March of 2020. Further, our ~~former~~manufacturing ~~independent~~and ~~registered~~branding ~~public~~business ~~accounting~~activities depend on reliable sources ~~firm~~of raw materials such as bulk packaged Fenjiu liquor from Shanxi Province and bulk packaged imported wines from foreign countries. We have experienced substantive diminutions in raw material supplies due to the COVID-19 outbreak and ensuing lockdowns, which have negatively impacted our business. Accordingly, our business, results of operations and financial condition were adversely affected. In light of the current situation, our revenues and net income for the first three fiscal ~~years~~quarters ~~2019~~in ~~and~~2020 ~~2018~~decreased due to the COVID-19 outbreak.

	Fiscal 2019		Fiscal 2018
Audit Fees	$	2,000	$	4,000
Audit-Related Fees	$	2,500	$	3,750
Tax Fees		—		—
All Other Fees		—		—
Total	$	4,500	$	7,750

As of the date of this report, China has shown signs of COVID-19 slowdown and Chinese industries have partially resumed businesses as government officials started to ease the restrictive measures. We believe that the impact of the COVID-19 outbreak on our business is both temporary and limited.

~~The~~Critical ~~following~~Accounting ~~table shows~~Policies ~~the fees that we paid for audit~~ and ~~other services provided by WWC for fiscal years 2019 and 2018.~~Estimates

	Fiscal 2019		Fiscal 2018
Audit Fees	$	8,277	$	—
Audit-Related Fees		—		—
Tax Fees		—		—
All Other Fees		—		—
Total	$	8,277	$	—

Management’s discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with US GAAP. Our financial statements reflect the selection and application of accounting policies that require management to make significant estimates and judgments. The discussion of our critical accounting policies contained in Note 2 to our consolidated financial statements, “Summary of Significant Accounting Policies”, is incorporated herein by reference.

~~The~~Results ~~Company~~of does not currently have a separate audit committee. Rather, the Board serves as the audit committee. Our Board has reviewed and approved the above fees and believes such fees are compatible with the independent registered public accountants’ independence.Operations

11The following table sets forth a breakdown of revenue for the periods indicated, both in absolute amount and as a percentage of total revenues. The information should be read together with our consolidated financial statements and related notes included elsewhere in this report.

~~PART IV~~14

~~ITEM~~Comparison ~~15.~~of ~~EXHIBITS~~the Years Ended December 31, 2019 and 2018

(a)(1) Financial Statements

	Years Ended December 31,						Variance
	2019			2018			Amount			%
Revenue	$	195,917			16,493			179,424			1,088	%
Cost of sales		125,572			11,807			113,765			964	%
Gross profit		70,345			4,686			65,659			1,401	%

Operating expenses
Selling and marketing expenses		69,732			12,575			57,157			455	%
General and administrative expenses		1,116,473			410,170			706,303			172	%
Total operating expenses		1,186,205			422,745			763,460			181	%

Operating loss		(1,115,860	)		(418,059	)		(697,801	)		167	%

Other income (expenses)
Interest income		44			11			33			300	%
Interest Expense		(1,190	)		(9	)		(1,181	)		13,122	%
Other Income		339			321			18			6	%
Other expenses		(678	)		-			(678	)		N/A
Total other income and (expenses)		(1,485	)		323			(1,808	)		360	%

Loss before taxes from operations		(1,117,345	)		(417,736	)		(699,609	)		167	%

Provision for income taxes		27			123			(96	)		(78	)%

Net loss		(1,117,372	)		(417,859	)		(699,513	)		167	%

Non-controlling interest		(3,204	)		-			(3,204	)		N/A

Net loss attributable to stockholder		(1,114,168	)		(417,859	)		(696,309	)		167	%
Other comprehensive income:

Foreign currency translation income		10,989			10,393			596			6	%
Comprehensive loss	$	(1,103,179	)	$	(407,466	)	$	(695,713	)	$	171	%

~~See “Index to Financial Statements” set forth following the signature paged of this report.~~15

(a)~~(2)~~ ~~Financial Statement Schedules~~Revenue

~~None.~~As ~~The~~of ~~financial~~December ~~statement~~31, ~~schedules~~2019, ~~are~~our ~~omitted~~main ~~because~~revenue stream was derived ~~they~~from wholesale business, retail outlets, coffee capsules and coffee brewing machines. Our business commenced in 2017. Starting from February 1, 2020, we are ~~inapplicable~~no orlonger involved in the ~~requested~~retailing ~~information~~business isof ~~shown~~selling incoffee ~~our~~products ~~financial~~and ~~statements~~coffee orbrew ~~related~~machines. We ~~notes~~have ~~thereto~~also stopped selling health supplements and skin care products.

~~Exhibits~~For the year ended December 31, 2019 and 2018, our revenue was $195,917 and $16,493, respectively, which represented an increase of $179,424. The increase of revenue was mainly due to the increased sales volume of our products.

~~The~~(b) ~~following~~Cost ~~exhibits~~ of ~~the Company are included herein.~~Sales

Exhibit Number		Description
3.1		Articles of Incorporation (incorporated by reference to our Registration Statement on Form S-1 filed on October 4, 2011)
3.2		Bylaws (incorporated by reference to our Registration Statement on Form S-1 filed on October 4, 2011)
10.1		Share Exchange Agreement dated October 1, 2019 among Global Seed Corporation, Well Benefit International Limited, and the shareholders of Well Benefit International Limited (incorporated by reference to our Current Report on Form 8-K filed on October 2, 2019)
31.1*		Certificate of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*		Certificate of Principal Accounting Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*		Certification of Principal Executive Officer and Principal Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101*		Interactive Data File
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

For the year ended December 31, 2019 and 2018, cost of sales from our coffee wholesale business were $125,572 and $11,807, respectively. The increase of cost of sales was mainly due to the increased sales volume of our coffee capsules.

*(c) ~~Filed~~Gross ~~herewith.~~Profit

12Gross profit from our coffee wholesale business increased by $65,659 for the year ended December 31, 2019 from the gross profit of $4,686 for the year ended December 31, 2018. The increase of gross profit was due to the Company’s adoption of a strategy to sell products with stable profit margins.

~~SIGNATURES~~(d) Selling and Marketing Expenses

~~Pursuant~~For to the ~~requirements~~year ofended December ~~the~~31, ~~Securities Exchange~~2019, ~~Act~~our selling and marketing expenses were $69,732, representing an increase of ~~1934~~$57,157, as compared to $12,575 for the ~~registrant~~year ~~caused~~ended ~~this~~December ~~report~~31, to2018. beThe ~~signed~~increase onwas ~~its~~primarily ~~behalf~~due byto the ~~undersigned,~~increased ~~thereunto~~advertising ~~duly~~and ~~authorized~~marketing expenses during the year.

~~GLOBAL~~(e) ~~SEED~~General ~~CORPORATION~~and Administrative Expenses

~~Date:~~For ~~October~~the 15year ended December 31, 2019, our administrative expenses were $1,116,473, representing an increase of $706,303 from those in the year 2018. The increase was primarily due to the increase in salaries and wages from $154,985 to $481,880 and professional service fees from $28,311 to $312,449 in 2019.

~~BY: /s/ Leung Kwok Hei Leung Kwok Hei Chief Executive Officer (Principal Executive Officer)~~16

~~Pursuant~~(f) toOther ~~the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.~~Income

BY:	/s/ Leung Kwok Hei	Director and Chief Executive Officer	Date: October 15, 2019
	Leung Kwok Hei	(Principal Executive Officer)
BY:	/s/ Chan Hiu	Chief Financial Officer	Date: October 15, 2019
	Chan Hiu	(Principal Executive Officer and Principal Financial Officer)

For the year ended December 31, 2019, our other income was $339, representing an increase of $18 as compared to $321 for the same year-ended date of 2018. The increase in other income was primarily due to increased interest income from bank deposits.

13(g) Interest and Other Financial Charges

~~REPORT~~For OFthe ~~INDEPENDENT~~year ~~REGISTERED~~ended December ~~PUBLIC~~31, ~~ACCOUNTING~~2019, our interest and other financial charges were $1,190 as compared to $9 for the same year-ended date of 2018. ~~FIRM~~The increase in interest and other financial charges was primarily due to the bank fees and convertible notes.

~~To:~~(h) ~~The~~Income ~~Board of Directors and Stockholders of~~Taxes

~~GLOBAL~~The ~~SEED~~Company’s income ~~CORPORATION~~taxes decreased by $96 for the year ended December 31, 2019 from $123 for the same year-ended date of 2018. The decrease in the Company’s income taxes was primarily due to decreased taxable income of the Company for the period indicated.

~~Opinion~~(i) onNet ~~the Financial Statements~~Loss

WeFor ~~have audited~~ the ~~accompanying~~year ~~balance sheets~~ended ofDecember ~~GLOBAL SEED CORPORATION (the “Company”) as of June 30~~31, 2019, ~~and~~our ~~the~~net ~~related~~loss ~~statements~~was ~~of operations~~$1, ~~stockholders’ equity~~117,372, ~~and~~representing ~~cash~~an ~~flows~~increase ~~for~~of ~~the year ended June 30~~$699, ~~2019~~513, ~~and~~as ~~the~~compared ~~related notes (collectively referred~~ to as$417,859 for the ~~financial~~same ~~statements).~~year-ended Indate ~~our~~of ~~opinion,~~2018. ~~the~~Our ~~financial~~comprehensive ~~statements~~loss ~~present~~was ~~fairly~~$1, ~~in all material respects~~103,179, ~~the~~representing ~~financial~~an ~~position~~increase of ~~the~~$695,713, ~~Company~~ as ~~of June~~compared ~~30,~~to ~~2019~~$407,466 ~~and the results of its operations and its cash flows~~ for the same year -ended ~~June~~date ~~30, 2019, in conformity with accounting principles generally accepted in the United States~~ of ~~America~~2018.

~~The~~Liquidity accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company had incurred substantial losses and ~~has~~Capital a working capital deficit, which raises substantial doubt about its ability to continue as a going concern. Management’s plan in regards to these matters are also described in Note 9 These financial statements do not include any adjustments that might result from the outcome of this uncertainty.Resources

~~Basis~~For ~~for~~the ~~Opinion~~year ended December 31, 2019, the Company had a net cash outflow from its operating activities $1,046,604 which represented salaries and wages $481,880 and professional service fees $312,449 and increased in inventory $201,671. The Company had a net cash outflow $191,359 from investing activities mainly used in purchase coffee brewing machines and other equipment. The net cash inflows from financing activities is primarily related to $280,000 in net proceeds from the issuance of our convertible notes and $1,262,738 financial support from directors.

~~These~~For ~~financial~~the ~~statements~~year ~~are~~ended ~~the~~December ~~responsibility of~~31, ~~the~~2018, the Company’s ~~management.~~had ~~Our~~a ~~responsibility~~net iscash tooutflow ~~express~~from anits ~~opinion~~operating onactivities ~~the~~$356,222 ~~Company’s~~which ~~financial~~represented ~~statements~~salaries ~~based on~~and ~~our~~wages ~~audits.~~$154,985, Weprofessional service ~~are~~fees a$28,311 ~~public~~and ~~accounting~~increased ~~firm~~in ~~registered~~inventory ~~with~~$25,775. ~~the~~The ~~Public~~ Company ~~Accounting~~had ~~Oversight~~a ~~Board~~net ~~(United~~cash ~~States)~~outflow ~~(PCAOB) and~~$26,151 ~~are~~from ~~required~~investing toactivities ~~be independent with respect to the Company~~ used in ~~accordance~~purchase ~~with~~ the Uequipment.S. ~~federal~~The ~~securities~~net ~~laws~~cash ~~and~~inflows ~~the~~from ~~applicable rules~~financing ~~and~~activities ~~regulations~~is ofrelated ~~the~~to ~~Securities~~$391,166 ~~and~~financial ~~Exchange~~support ~~Commission~~from ~~and the PCAOB~~directors.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.17

~~Our~~Management ~~audits included performing procedures to~~believes ~~assess~~that ~~the~~our ~~risks~~current ~~of material misstatement of the financial statements~~cash, ~~whether~~cash ~~due~~flows tofrom ~~error~~current orand ~~fraud~~future operations, and ~~performing~~access ~~procedures that respond~~ to ~~those~~loans ~~risks.~~may ~~Such~~or ~~procedures~~may ~~included~~not ~~examining,~~be onsufficient ato ~~test basis, evidence regarding the amounts and disclosures~~meet inour ~~the~~working ~~financial~~capital ~~statements.~~needs ~~Our~~for ~~audits~~at ~~also~~least ~~included evaluating~~ the ~~accounting~~next ~~principles~~12 ~~used~~months. ~~and~~We ~~significant~~intend ~~estimates~~to ~~made by~~continue ~~management,~~to ascarefully ~~well~~execute ~~as evaluating the overall presentation of the financial statements. We believe that~~ our ~~audits~~growth ~~provide~~plans aand manage ~~reasonable~~market ~~basis for our opinion~~risk.

~~/s/~~Going ~~WWC, P.C.~~Concern

~~WWC~~We currently had recurring losses since the Company’s inception and had a negative working capital of $1,349,774 Pas of December 31, 2019.C Accordingly, there is substantial doubt the Company will continue as a going concern. The Company’s management intends to raise working capital through the sale of stock via private placements.

~~Certified~~Off-balance ~~Public~~Sheet ~~Accountants~~Arrangements

WeThe Company has no material transactions, arrangements, obligations or other relationships with entities or other persons that have ~~served~~or asare ~~the~~reasonably likely ~~Company’s~~to ~~auditor~~have material current or future impacts on its financial condition, changes in financial condition, results of operations, ~~since~~liquidity, ~~August~~capital 12expenditures, ~~2019~~capital resources, or significant components of revenues or expenses, other than those disclosed above.

~~San~~Item ~~Mateo,~~7A. ~~California~~QUANTITATIVE AND QUALITATIVE DISCLOURES ABOUT MARKET RISK.

~~October~~Not ~~15, 2019~~applicable.

~~F-1~~ ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

~~REPORT~~The OFCompany’s ~~INDEPENDENT~~financial statements ~~REGISTERED~~and ~~PUBLIC ACCOUNTING~~the ~~FIRM~~related notes, together with the report of WWC, P.C., are set forth following the signature pages of this report.

ToITEM ~~the~~9. ~~Board~~CHANGE ofIN ~~Directors~~AND ~~and Stockholders~~DISAGREEMENTS ofWITH ~~Global~~ACCOUNTANTS ~~Seed,~~ON ~~Inc.~~ACCOUNTING AND FINANCIAL DISCLOSURES

~~Opinion on the Financial Statements~~None.

We have audited the accompanying balance sheet of Global Seed Corporation (the Company) as of June 30, 2018 and the related statements of operations, stockholders’ equity (deficit), and cash flows for the period ended June 30, 2018 and the related notes and schedules (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2018 and the results of its operations and its cash flows for the year ended June 30, 2018, in conformity with accounting principles generally accepted in the United States of America.18

~~Basis~~ITEM ~~for~~9A. ~~Opinion~~CONTROLS AND PROCEDURES

~~These~~We ~~financial~~maintain ~~statements~~disclosure controls ~~are~~and ~~the~~procedures ~~responsibility of~~(as ~~the~~defined ~~Company’s~~in ~~management.~~Rules ~~Our~~13a-15(e) ~~responsibility~~and is15d-15(e) tounder ~~express~~the anExchange ~~opinion~~Act) onthat ~~the~~are ~~Company’s~~designed ~~financial~~to ~~statements~~ensure ~~based~~that information onrequired ~~our~~to ~~audit.~~be Wedisclosed ~~are~~in aour ~~public~~reports ~~accounting~~filed ~~firm~~under ~~registered~~the ~~with~~Exchange ~~the~~Act ~~Public~~is ~~Company~~recorded, ~~Accounting~~processed, ~~Oversight~~summarized ~~Board~~and ~~(United~~reported ~~States)~~within ~~(PCAOB)~~the time periods specified in the rules and ~~are~~forms ~~required~~of tothe beSEC. ~~independent~~This ~~with~~information ~~respect~~is accumulated to ~~the~~allow ~~Company~~our inmanagement ~~accordance~~to ~~with~~make ~~the~~timely decisions Uregarding required disclosure.S. ~~federal~~In ~~securities~~designing ~~laws~~and evaluating our disclosure controls and ~~the~~procedures, ~~applicable~~our management recognizes ~~rules~~that any controls and ~~regulations~~procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the ~~Securities~~desired control objectives, and ~~Exchange~~our ~~Commission~~management ~~and~~is required to apply its judgment in evaluating the ~~PCAOB~~cost-benefit relationship of possible controls and procedures.

WeOur ~~conducted~~management, including our ~~audit~~principal inexecutive ~~accordance~~officer ~~with~~and ~~the~~principal accounting officer, does not expect that our disclosure controls or our internal ~~standards~~controls ofover ~~the~~financial ~~PCAOB~~reporting will prevent all error and fraud. ~~Those~~A ~~standards~~control ~~require~~system, ~~that~~no wematter ~~plan~~how ~~and~~well ~~perform~~conceived ~~the~~and ~~audits~~operated, can toprovide ~~obtain~~only reasonable, but not absolute, assurance ~~about~~that ~~whether~~ the ~~financial~~objectives ~~statements~~of ~~are~~a ~~free~~control ofsystem ~~material~~are ~~misstatement~~met. Further, ~~whether~~any ~~due~~control system toreflects ~~error~~limitations oron ~~fraud.~~resources ~~The~~and ~~Company~~the isbenefits ~~not~~of ~~required~~a control system must be considered relative to ~~have,~~its costs. These limitations ~~nor~~also ~~were~~include wethe ~~engaged~~realities tothat ~~perform,~~judgments anin ~~audit~~decision-making ofcan ~~its~~be ~~internal~~faulty ~~control~~and ~~over~~that ~~financial~~breakdowns ~~reporting~~can occur because of simple error or mistake. AsAdditionally, ~~part~~controls can be circumvented by the individual acts of ~~our~~some ~~audit~~persons, weby ~~are~~collusion ~~required~~of two or more people toor ~~obtain~~by anmanagement ~~understanding~~override of ~~internal~~a control. ~~over~~The ~~financial~~design ~~reporting,~~of ~~but~~a ~~not~~control ~~for~~system ~~the~~is ~~purpose~~also based upon certain assumptions about potential future conditions; over time controls may become inadequate because of ~~expressing~~changes anin ~~opinion~~conditions, onor the degree of compliance with the policies ~~effectiveness~~or procedures may deteriorate. Because of the ~~Company’s~~inherent ~~internal~~limitations ~~control~~in ~~over~~a ~~financial~~cost-effective ~~reporting.~~control ~~Accordingly~~system, wemisstatements ~~express~~due noto ~~such~~error or ~~opinion~~fraud may occur and may not be detected.

~~Our~~As ~~audit~~of ~~included~~December ~~performing procedures to~~31, ~~assess~~2019, the ~~risks~~year ofcovered ~~material~~by ~~misstatement~~this ofreport, ~~the~~we ~~financial~~carried ~~statements,~~out ~~whether~~an ~~due~~evaluation, tounder ~~error~~the orsupervision ~~fraud,~~ and ~~performing~~participation ~~procedures~~of our management, ~~that~~including ~~respond~~our toprincipal ~~those~~executive ~~risks.~~officer ~~Such~~and ~~procedures~~our ~~included~~principal ~~examining~~financial officer, onto adetermine ~~test~~the ~~basis,~~effectiveness ~~evidence~~of ~~regarding~~ the ~~amounts~~design and ~~disclosures~~ inoperation ~~the~~of ~~financial~~our ~~statements.~~disclosure ~~Our~~controls ~~audit~~and ~~also~~procedures. ~~included~~Based ~~evaluating~~on the ~~accounting~~foregoing, ~~principles~~our ~~used~~Chief ~~and~~Executive ~~significant~~Officer ~~estimates~~and ~~made~~Chief byFinancial Officer ~~management,~~concluded asthat ~~well~~our asdisclosure ~~evaluating~~controls ~~the~~and ~~overall~~procedures ~~presentation~~were ofnot ~~the~~effective ~~financial~~as ~~statements.~~of Wethe ~~believe~~end ~~that~~of ~~our~~the ~~audit~~year ~~provides~~covered aby ~~reasonable basis~~this ~~for our opinion~~report.

~~The~~Management’s ~~accompanying~~Report ~~financial~~on ~~statements~~Internal ~~have~~Control ~~been~~over ~~prepared~~Financial ~~assuming~~Reporting the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company suffered losses from operations which raise substantial doubt about its ability to continue as a going concern. Managements plans regarding those matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

~~/s/~~Our ~~M&K~~management ~~CPAS~~is responsible for establishing and maintaining adequate internal control over financial reporting (“ICFR”) as defined in Rule 13a-15(f) under the Exchange Act. Our management assessed the effectiveness of our ICFR as of December 31, ~~PLLC~~2019. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control-Integrated Framework in 2013 (the “2013 COSO Framework”). A material weakness is a deficiency or a combination of deficiencies, in ICFR, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. We have identified the following material weaknesses.

We1. As of December 31, 2019, we did not maintain effective controls over the control environment. Specifically, we have ~~served~~not developed a framework for accounting policies and procedures given we have only one officer, Further, the Board of Directors does not currently have any independent members and no director qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-K. Since these entity level programs have a pervasive effect across the ~~Company’s~~organization, ~~auditor~~management ~~since~~has ~~2017~~determined that these circumstances constitute a material weakness.

~~Houston~~2. As of December 31, TX2019, we did not maintain effective controls over financial statement disclosure. Specifically, controls were not designed and in place to ensure that all disclosures required were originally addressed in our financial statements. Accordingly, management has determined that this control deficiency constitutes a material weakness.

~~October 12, 2018~~19

~~F-2~~ Because of these material weaknesses, our management has concluded that the Company did not maintain effective internal control over financial reporting as of December 31, 2019, based on the criteria established in 2013 COSO Framework. Due to the size and operations of the Company, we are unable to remediate these deficiencies until we develop further.

~~GLOBAL~~The Company believes ~~SEED~~that ~~CORPORATION~~the financial statements fairly present, in all material respects, the Company’s balance sheets as of December 31, 2019 and 2018 and the related statements of operations and comprehensive loss, stockholders’ deficiency, and cash flows for the years ended December 31, 2019 and 2018 in conformity with U.S. GAAP, notwithstanding the material weaknesses we identified.

~~Balance~~This annual report ~~Sheets~~on Form 10-K does not include an attestation report of the Company’s registered public accounting firm regarding ICFR. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to Section 989G of the Dodd-Frank Wall Street Reform and Consumer Protection Act that permit the Company to provide only management’s report in this report.

~~(Audited)~~Changes in Internal Control Over Financial Reporting

	June 30, 2019			June 30, 2018
ASSETS
Current Assets:
Cash and Cash Equivalent	$	-		$	132
Prepaid expenses	$	10,094		$	-
TOTAL ASSETS	$	10,940		$	132
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current Liabilities:
Accrual		15,500			-
Due to related party	$	42,124		$	-
TOTAL LIABILITIES		57,624			-
STOCKHOLDERS’ DEFICIT
Preferred Stock 9,989,886,988, par Value $0.0001; -0- issued and outstanding
Common Stock 8,999,886,999 shares authorized: $0.0001 par value; 5,000,000 shares issued and Outstanding as of June 30, 2019 and 2018		500			500
Additional Paid-in Capital		80,095			80,001
Accumulated Deficit		(128,125	)		(80,369	)
Total stockholders’ Equity		(47,530	)		132
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	10,940		$	132

There had been no changes in the Company’s ICFR identified in connection with the above evaluation that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s ICFR.

~~The accompanying~~ITEM ~~notes~~9B. ~~are~~OTHER ~~an integral part of these financial statements~~INFORMATION

~~F-3~~ None.

~~GLOBAL SEED CORPORATION~~20

~~Statements of~~PART ~~Operations~~III

~~(Audited)~~ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERANCE

	Year Ended June 30, 2019			Year Ended June 30, 2018
OPERATING EXPENSES:
General and Administrative Expenses	$	47,662		$	10,611
Total Operating Expenses		47,662			10,611
Loss from Operations		(47,662	)		(10,611	)
Imputed Interest		94			2,321
Net Loss	$	(47,756	)	$	(12,932	)
Loss per Common Shares -Basic and Diluted	$	(0.00	)	$	(0.00	)
Weight Average Number of Shares outstanding-Basic and Diluted		5,000,000			5,000,000

Our members of the Board of Directors and executive officers were listed below as of December 31, 2019.

The accompanying notes are an integral part of these financial statements

Name	Position Held with our Company	Age	Date First Elected or Appointed
Lam Heung Yeung Horace	Director & CEO	55	October 30, 2019
Chan Hiu	Director & CFO	47	June 1, 2018
Yeung Pik Wah*	Director & COO	51	October 30, 2019
Chiang Venant*	VP for Corporate Finance & Development	42	October 30, 2019

~~F-4~~ * On July 10, 2020, Ms. Yeung Pik Wah tendered her resignation from her positions as director and Chief Operating Officer of the Company, effective immediately. On the same day, Mr. Chiang Venant tendered his resignation from Vice President for Corporate Finance & Development of the Company.

~~GLOBAL~~Lam Heung Yeung ~~SEED~~Horace, ~~CORPORATION~~director and CEO

~~Statements~~Mr. Lam, age 54, has been serving as Convenor of ~~Cash~~Board ~~Flows~~of Directors of Agility International Holding Ltd. since 2016 and Managing Director of Logos Surveyors and Construction Co. since 2012. Mr. Lam received his bachelor degree of Science in Building Serveying with honor from Heriot-Watt University in 1993.

~~(Audited)~~Chan Hiu, director and CFO

	Year Ended June 30, 2019			Year Ended June 30, 2018
OPERATING ACTIVITIES:
Net Loss	$	(47,756	)	$	(12,932	)
Adjustments to reconcile net loss to net cash used by operating activities:
Imputed Interest		94			2,321
Change in operating assets and liabilities:
Prepaid expenses		(10,094	)		-
Accrual		15,500			-
Forgiveness of Due to Related Party		-			26,700
Due to Related Party		42,124			(16,200	)
Cash used in operating activities		(132	)		(111	)
Net decrease in cash		(132	)		(111	)
Cash at Beginning of Year:		132			243
Cash at End of Year:	$	-		$	132
Supplemental Cash Flow Disclosure:
Interest Paid	$	-		$	-
Taxes paid	$	-		$	-

Mr. Chan, age 46, has been serving as Financial Controller of Zheng Gong Trading Ltd Co in Dongguan, China since 2016. Mr. Chan was a financial advisor of Shenzhen Long Fu Capital based in Shenzhen, China from 2009 to 2016, and he consulted with clients for financial needs and helped them develop marginal investment plans. Prior to that, He was an owner and financial controller of Motoring Concept Distribution in Orlando, Florida from 2001 and 2008. Mr. Chan received his Bachelor of Business Accounting degree from University of Central Florida in Orlando, Florida in 2000.

~~The accompanying notes are an integral part of these financial statements~~21

~~F-5~~ Yeung Pik Wah, former director and COO

~~GLOBAL~~Ms. Yeung, age 50, ~~SEED~~previously ~~CORPORATION~~served as Regional Sr. Director at Pfizer Corporation Hong Kong Ltd., where she had been working since 2000 in various positions, such as Finance Director and General Manager. She is also the founder of LoveYoyo Amusement Company Limited and has been working there since 2010. Ms. Yeung also has been serving as the chairwoman at Elderly Care Nursing Home in Hong Kong since 2014. In addition, Ms. Yeung founded Zenecom Internation in 2017 and Zenecom and JMM enterprise, and JMM and Ximu Education Institute in 2018. Ms. Yeung founded LaChou Puff & MilkTea Mini-Shop in 2009 and successfully opened three chain stores within six months. Ms. Yeung received her bachelor degree of Arts in Business Economic from University of California at Los Angeles in 1997.

~~Statements~~Chiang Venant, offormer ~~Stockholders’~~VP ~~Equity~~for Corporate Finance & Development

~~Years~~Mr. Chiang, age 42, ~~ended~~is ~~June~~a 30seasoned financial professional with about twenty years of experience in the global financial market and was a senior management for various renowned investment banks such as HSBC, ~~2019~~Deutsche Bank, Bank of China International and ~~2018~~Jefferies. He currently serves as an executive member of Kami Intelligence Limited, Vice Chairman of the investment committee at the Smart City Consortium and Vice President of the Hong Kong Spirit Charity Sports Association. Mr. Chiang Served as a portfolio manager at Cardinalasia Consulting Limited from July 2016 to May 2017. He was the head of Hong Kong and China Property Research at Jefferies Hong Kong from May 2012 to June 2016. Mr. Chiang graduated Cum Laude from University of California at Los Angeles with a bachelor degree of Arts in Business Economics in 2001.

~~(Audited)~~Meetings of Our Board of Directors

	Common shares		Common Stock		Additional Paid-in Capital		Accumulated Deficit			Total
Balance on June 30, 2017		5,000,000	$	500	$	50,980	$	(67,437	)	$	(15,957	)
Forgiveness of debt Due to Related Party		-		-		26,700		-			26,700
Imputed Interest		-		-		2,321		-			2,321
Net Loss		-		-		-		(12,932	)		(12,932	)
Balance on June 30, 2018		5,000,000		500		80,001		(80,369	)		132
Imputed Interest		-		-		94		-			94
Net Loss		-		-		-		(47,756	)		(47,756	)
Balance on June 30, 2019		5,000,000	$	500	$	80,095	$	(128,125	)	$	(47,530	)

Our board of directors (the “Board”) took all actions by written consent during the years ended December 31, 2019.

~~The accompanying~~Significant ~~notes are an integral part of these financial statements~~Employees

~~F-6~~ Other than the director and officer described above, we do not expect any other individuals to make a significant contribution to our business.

~~NOTE 1~~Involvement –in ~~BUSINESS~~Legal ~~AND~~Proceedings ~~CONTINUED OPERATIONS~~

~~ORGANIZATION~~None of our directors, persons nominated to become a director, executive officers or control persons have been involved in any of the following events during the past 10 years:

~~Global Seed~~● ~~Corporation~~Any ~~(the~~bankruptcy ~~“Company”)~~petition ~~was~~filed ~~incorporated~~by onor ~~July~~against ~~13,~~any ~~2010 in the State of Texas. The initial operations of the Company included organization and incorporation, target market identification, new~~ business ~~development, marketing plans, fund raising, and capital formation. A substantial portion~~ of ~~the~~which ~~Company’s~~such ~~activities~~person ~~had involved developing a business plan and establishing contacts and visibility in the Asian communities in Houston, Texas. Prior to the change in control on June 2, 2018, the Company~~ was a ~~publishing~~general ~~company~~partner ~~that~~or ~~publishes~~executive aofficer ~~monthly~~either ~~journal~~at ~~called~~ the ~~Global~~ ~~Seed Journal.~~time ~~On October 1, 2019, the Company entered into a share exchange agreement with a British Virgin Islands company and its shareholders to acquire all~~ of ~~its~~bankruptcy ~~issued~~or ~~and~~within ~~outstanding~~two ~~shares.~~years ~~Upon~~prior ~~closing of the share exchange agreement, the Company plans~~ to ~~engage~~that intime; ~~the business of selling coffee and other healthy beverage products.~~or

~~The fiscal~~● ~~year~~Any ~~end~~conviction ofin ~~the~~a ~~Company~~criminal isproceeding ~~June~~or ~~30.~~being subject to a pending criminal proceeding (excluding traffic violations and other minor offences); or

~~NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES~~22

~~BASIS OF~~● ~~PRESENTATION~~Being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or

~~The accompanying~~● ~~financial~~Being ~~statements~~found ~~for~~by ~~Global~~a ~~Seed~~court ~~Corporation~~of ~~have~~competent ~~been~~jurisdiction ~~prepared~~ (in ~~accordance~~a ~~with~~civil ~~accounting~~violation), ~~principles~~the ~~generally accepted~~SEC inor the ~~United~~Commodity ~~States~~Future ofTrading ~~America~~Commission ~~and~~to inhave ~~accordance~~violated ~~with~~a ~~Regulation~~federal ~~S-X~~or ~~promulgated~~state bysecurities ~~the~~or ~~Securities~~commodity law, and ~~Exchange~~the ~~Commission.~~judgment has not been reversed, suspended, or vacated; or

~~USE OF~~● ~~ESTIMATES~~Being the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of: any Federal or State securities or commodities law or regulation; or any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity. This violation does not apply to any settlement of a civil proceeding among private litigants; or

~~The preparation~~● ofBeing the ~~Company’s~~subject ~~financial~~of, ~~statements~~or ina ~~conformity~~party ~~with~~to, ~~accounting~~any ~~principles~~sanction ~~generally~~or ~~accepted~~order, innot ~~the~~subsequently ~~United States~~reversed, ~~requires~~suspended ~~management~~or tovacated, ~~make~~of ~~estimates~~any ~~and~~self-regulatory ~~assumptions~~organization ~~that~~(as ~~affect~~defined ~~the~~in ~~reported~~Section ~~amounts~~3(a)(26) of ~~assets~~the ~~and~~Exchange ~~liabilities~~Act ~~and~~(15 ~~disclosure of~~U.S.C. ~~contingent~~78c(a)(26))), ~~assets~~any ~~and~~registered ~~liabilities~~entity at(as ~~the~~defined ~~date~~in Section 1(a)(29) of the ~~financial~~Commodity ~~statements~~Exchange ~~and~~Act ~~the~~(7 ~~reported~~U.S.C. ~~amount~~1(a)(29))), ofor ~~revenues~~any ~~and~~equivalent ~~expenses during~~exchange, ~~the~~association, ~~reporting~~entity ~~period. Actual~~or ~~results~~organization ~~could~~that ~~differ~~has ~~from~~disciplinary ~~those~~authority ~~estimates~~over its members or persons associated with a member.

~~CASH AND~~Section ~~CASH~~16(a) ~~EQUIVALENTS~~Beneficial Ownership Reporting Compliance

~~The~~Section 16(a) of the ~~Company~~Exchange ~~considers~~Act requires that our executive officers and directors, and persons who own more than ten percent of a registered class of our equity securities, file reports of ownership and changes in ownership with the SEC. Executive officers, directors and greater-than-ten percent stockholders are required by SEC regulations to furnish us with all ~~highly~~Section ~~liquid~~16(a) ~~investments~~forms ~~purchased~~they file. Based solely on our review of the copies of the forms received by us and written representations from certain reporting persons that they have complied with the relevant filing requirements, we believe that, during the year ended December 31, 2019, all filing requirements applicable to its executive officers, directors, and greater than ten percent (10%) beneficial owners were met, except for the following: Mr. Hiu Chan did not timely file his Form 4 after acquiring 10,090,000 shares of the Company’s common stock on October 30, 2019. However, the Form 4 corresponding to this transaction was subsequently filed on November 12, 2019. Mr. Venant Chiang did not timely file his Form 3 after acquiring 1,050,000 shares of the Company’s common stock and being appointed as an ~~original~~officer of ~~maturity~~the Company on October 30, 2019. However, the Form 3 corresponding to this transaction and appointment was subsequently filed on November 13, 2019. Ms. Pik Wah Yeung did not timely file her Form 3 after being appointed as an officer and director of ~~three~~the Company ~~months~~on orOctober ~~less~~30, 2019. However, the Form 3 corresponding to beher ~~cash~~appointment ~~equivalents~~was subsequently filed on November 13, 2019. Mr. Chun Ngan Chan (10% shareholder) did not timely file his Form 3 after acquiring 91,239,300 shares of the Company’s common stock on October 30, 2019. However, the Form 3 corresponding to this transaction was subsequently filed on November 15, 2019. As of the date of this report, all of the filings mentioned above have been made.

~~F-7~~ 23

~~FAIR VALUE~~Code ~~MEASUREMENTS~~of Ethics

~~The Company~~We ~~adopted~~currently ~~the~~do ~~provisions~~not have ofa ~~ASC~~Code ~~Topic~~of ~~820,~~Ethics ~~“Fair~~because ~~Value~~we ~~Measurements~~presently ~~and~~only ~~Disclosures”,~~have ~~which~~limited ~~defines~~size ~~fair~~of ~~value as~~the ~~used~~Board inand ~~numerous~~management. ~~accounting~~We ~~pronouncements,~~plan ~~establishes~~to adopt a ~~framework~~Code ~~for~~of ~~measuring~~Ethics when ~~fair~~the ~~value~~size ~~and~~of ~~expands~~the ~~disclosure~~Board ofand ~~fair value~~management ~~measurements~~increases.

~~The estimated~~Board fair value of certain financial instruments, including cash and cash equivalents, deposits, prepaid expenses, notes payable, and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The Company has no other financial instruments.Committees

~~ASC 820~~The ~~defines~~Company ~~fair~~does ~~value~~not have asan ~~the~~audit ~~exchange~~committee ~~price~~or ~~that would be received for~~ an ~~asset~~audit orcommittee ~~paid~~financial toexpert ~~transfer a liability~~ (anas ~~exit~~defined ~~price)~~ in ~~the~~Item ~~principal~~407 orof ~~most~~Regulation ~~advantageous~~S-K) ~~market~~serving ~~for the asset or liability in an orderly transaction between market participants~~ on ~~the~~its ~~measurement date~~Board. The ~~ASC~~Company ~~820~~has ~~also~~not ~~establishes~~yet aemployed ~~fair value hierarchy, which requires~~ an ~~entity~~audit tocommittee ~~maximize~~financial ~~the~~expert ~~use~~on ofits ~~observable inputs~~Board ~~and~~due ~~minimize~~to the ~~use~~inability ofto ~~unobservable~~attract ~~inputs~~such ~~when~~a ~~measuring fair value~~person. ~~ASC 820 describes three levels of inputs that may be used to measure fair value:~~

*The Company intends ~~level~~to lestablish -an ~~quoted~~audit ~~prices~~committee inof ~~active~~the ~~markets~~Board, which will consist of independent directors. The audit committee’s duties will be to recommend to the Company’s Board the engagement of an independent registered public accounting firm to audit the Company’s financial statements and to review the Company’s accounting and auditing principles. The audit committee will review the scope, timing and fees for ~~identical~~the ~~assets~~annual oraudit ~~liabilities~~and the results of audit examinations performed by the internal auditors and independent registered public accounting firm, including their recommendations to improve the system of accounting and internal controls. The audit committee will at all times be composed exclusively of directors who are, in the opinion of the Company’s Board, free from any relationship which would interfere with the exercise of independent judgment as a committee member and who possess an understanding of financial statements and generally accepted accounting principles.

* level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable24

* levelITEM 311. -EXECUTIVE ~~inputs that are unobservable (for example cash flow modeling inputs based on assumptions)~~COMPENSATION

~~INCOME TAXES~~Summary Compensation Table

The ~~Company~~ ~~utilizes~~Summary ~~FASB~~Compensation ~~ASC~~Table ~~740,~~shows ~~“Income~~certain compensation ~~Taxes,”~~information ~~which~~for ~~requires~~services ~~the~~rendered ~~recognition~~in ofall ~~deferred~~capacities ~~tax assets and liabilities~~ for the ~~expected~~fiscal ~~future~~year ~~tax~~ended ~~consequences~~December of31, ~~events~~2019 ~~that~~and ~~have been included in the financial statements or tax returns~~2018. ~~Under~~No ~~this~~executive ~~method,~~officer’s ~~deferred~~salary ~~tax assets~~ and ~~liabilities~~bonus ~~are~~exceeded ~~determined~~$100,000 ~~based~~in onany ~~the~~of ~~difference between~~ the ~~tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates~~ applicable toyears. ~~the~~The ~~periods~~following ininformation ~~which~~includes the dollar ~~differences~~value ~~are~~of ~~expected~~base tosalaries, ~~affect~~bonus ~~taxable~~awards, ~~income.~~the Anumber ~~valuation~~of ~~allowance~~stock isoptions ~~recorded~~granted ~~when~~and incertain ~~the~~other ~~opinion~~compensation, ofif ~~management~~any, itwhether ispaid ~~“more~~or ~~likely-than-not” that a~~ deferred ~~tax asset will not be realized~~.

F-8

Name and Principal Position	Year		Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non-Equity Incentive Plan Compensation ($)		Nonqualified Deferred Compensation ($)		All Other Compensation ($)		Total ($)

Lam Heung Yeung Horace		2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
		2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-

Chan Hiu		2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
		2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-

Yeung Pik Wah (1)		2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
		2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-

Chiang Venant (2)		2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
		2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-

Leung Kwok Hei (3)		2019		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-
		2018		-0-		-0-		-0-		-0-		-0-		-0-		-0-		-0-

~~BASIC~~(1) Ms. Yeung Pik Wah our former director and Chief Operating ~~AND~~Officer ~~DILUTED~~resigned ~~NET~~on ~~LOSS~~July ~~PER~~10, ~~SHARE~~2020.

~~Net loss~~(2) ~~per~~Mr. ~~share~~Chiang ~~is calculated in accordance with ASC 260~~Venant, ~~Earnings~~our ~~Per~~former ~~Share,~~Vice President for ~~the period presented. Basic net loss per share~~Corporate isFinance ~~based~~& ~~upon~~Development ~~the~~resigned ~~weighted average number of common shares outstanding. Diluted net loss per share is based~~ on ~~the~~July ~~assumption that all dilative convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method~~10, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period2020.

~~As of~~(3) ~~June~~Mr. 30Leung, ~~2019~~our ~~and~~former ~~2018~~Chief Executive Officer, resigned from the Company ~~had~~on noOctober ~~potentially~~30, ~~dilutive securities~~2019.

~~NOTE 3 – GOING CONCERN~~25

~~The~~Employment Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation as of liabilities in the normal course of business. The Company has accumulated deficit of $128,125 as of June 30, 2019. Management’s plans to continue as a going concern include raising additional capital through sales of common stock and consummate the Reverse Merger as defined under Note 9 herein. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described above and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.Agreements

~~F-9~~ Currently, we do not have an employment agreement in place with our officers and directors.

~~NOTE 4~~Option ~~– RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS~~Grants

InWe ~~May,~~had ~~2016,~~no ~~the~~outstanding ~~Financial~~equity ~~Accounting Standards~~awards ~~Board~~as ~~(the~~of ~~“FASB”) issued ASU No.2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients. The amendments in this Update affect~~ the ~~guidance~~end inof ~~Accounting Standards Update 2014-09, Revenue from~~fiscal ~~Contracts~~years ~~with~~ended ~~Customers~~December ~~(Topic 606)~~31, ~~which~~2019 ~~is not yet effective. The effective date~~ and ~~transition requirements for the amendments in this Update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09)~~2018. ~~Accounting Standards Update 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year.~~

~~August~~Option ~~2014,~~Exercises ~~the~~and ~~FASB~~Fiscal ~~issued ASU 2014~~Year-~~15, “Presentation~~End ofOption ~~Financial~~Value Statements – Going Concern (Topic 205-40)”, which requires management to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern for each annual and interim reporting period. If substantial doubt exists, additional disclosure is required. This new standard is effective for the Company for annual and interim periods beginning after December 15, 2016.Table

~~NOTE~~There were no stock options exercised during fiscal years ended 5December –31, ~~DEFERED~~2019 ~~INCOME~~and ~~TAX~~2018 by the executive officers.

~~The~~Outstanding ~~Company~~Equity ~~maintains~~Awards deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The deferred tax assets at ~~June~~Fiscal ~~30,~~Year-End 2019 and 2018 consist of net operating loss carryforwards. The net deferred tax asset has been fully offset by a valuation allowance because of the uncertainty of the attainment of future taxable income. The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the year ended June 30, 2019 and 2018 were as follows:Table

	Year Ended June 30, 2019		Year Ended June 30 2018
Income tax benefit at statutory rate	$	26,399	$	16,390
Total Provision for income tax	$	26,399	$	16,390

We had no outstanding equity awards as of the end of fiscal years ended December 31, 2019 and 2018.

FLong-10 Term Incentive Plans and Awards

~~The Company’s~~There ~~approximate~~were ~~net~~no ~~deferred~~awards ~~tax~~made ~~asset~~to asa ofnamed ~~June~~executive ~~30,~~officer in fiscal 2019 and 2018 ~~was~~under asany ~~follows:~~long-term incentive plan.

	June 30, 2019			June 30, 2018
Deferred Tax Asset:
Net Operating Loss Carryforward	$	125,710		$	78,048
Valuation Allowance		(125,710	)		(78,048	)
Net deferred tax asset	$	-		$	-

Director Compensation

~~The~~Directors ~~net~~are ~~operating loss carryforward was $125,710~~permitted ~~at June 30, 2019. The Company provided a valuation allowance equal~~ to ~~the~~receive ~~deferred~~fixed ~~income~~fees ~~tax asset for the years ended June 30, 2019~~ and ~~2018~~other ~~because~~compensation itfor ~~was~~their ~~not~~services ~~known~~as ~~whether~~directors. ~~future~~The ~~taxable~~Board ~~income~~has ~~will~~the beauthority ~~sufficient~~ to ~~utilize~~fix the ~~loss carryforward. The allowance~~compensation ~~was~~of ~~$125,710 at June 30, 2019~~directors. ~~The potential tax benefit arising from the loss carryforward will expire in 2037.~~

~~Additionally,~~Our ~~the~~directors ~~future~~did ~~utilization of the~~not ~~net~~receive ~~operating~~any ~~loss~~compensation ~~carryforward~~for totheir ~~offset~~services ~~future taxable income may be subject to an annual limitation~~ as adirectors ~~result~~for ~~of ownership changes that could occur in~~ the ~~future.~~years Ifended ~~necessary,~~December ~~the deferred tax assets will be reduced by any carryforward that expires prior to utilization as a result of such limitations~~31, ~~with~~2019 aand ~~corresponding reduction of the valuation allowance~~2018.

~~The Company does not have any uncertain tax positions or events leading to uncertainty in a tax position.~~ 26

~~The~~ITEM Company’s income tax rate computed at the statutory federal rate of 21%, applied to our net operating loss carryforward of $125,710 provided a deferred tax asset of $26,399 which will begin to expire in 2037 unless utilized first12. AnSECURITY ~~allowance~~OWNERSHIP ofOF ~~$26,399~~CERTAIN ~~has~~BENEFICIAL ~~been~~OWNERS ~~established,~~AND ~~since~~MANAGEMENT itAND ~~is more~~RELATED ~~likely~~STOCKHOLDER ~~than not that some or all of the deferred tax credit will not be realized~~MATTERS.

~~NOTE~~The 6following –table ~~COMMITMENTS~~sets ~~AND~~forth ~~CONTINGENCIES~~certain information regarding beneficial ownership of shares of our common stock as of October 8, 2020, by (i) each person known to beneficially own more than 5% of our outstanding common stock, (ii) each of our directors, (iii) each of our named executive officers, and (iv) all of our directors and executive officers as a group. Except as otherwise indicated, the persons named in the table below have sole voting and investment power with respect to all shares beneficially owned, subject to community property laws, where applicable.

The Company does not have any commitments nor contingencies.

Name and Address	Title of Class	Number of Shares Beneficially Owned (1)		Percentage Ownership of Shares of Common Stock
Executive Officers and Directors
Lam Heung Yeung Horace	Common Stock		37,170,000		14.41	%

Chan Hiu	Common Stock		10,879,000		4.22	%

All Officers and Directors (2 persons)	Common Stock		48,310,000		18.73	%

Owner of more than 5% of Class
Chan, Chun Ngan	Common Stock		91,239,300		35.38	%
Leung, Yuen Dick	Common Stock		16,000,000		6.20	%
Team Fu International Co., Limited (2)	Common Stock		17,400,000		6.75	%
Leung, Siu Hung	Common Stock		16,689,000		6.47	%

~~NOTE~~* 7Represents –less ~~RELATED~~than ~~PARTY TRANSACTIONS~~1%.

~~There~~(1) ~~was $42,124~~In indetermining ~~due~~beneficial toownership ~~related~~of ~~party liability~~our atcommon ~~June~~stock 30as of a given date, ~~2019~~the number of shares shown includes shares of common stock which may be acquired on exercise of warrants or options or conversion of convertible securities within 60 days of that date. ~~The~~In ~~Company~~determining ~~imputed~~the ~~interest~~percent of ~~$94~~common ~~and~~stock $2owned by a person or entity on the date of this report,~~321~~ ~~respectfully~~(a) ~~for~~the numerator is the ~~years~~number ~~ended~~of ~~June~~shares 30of the class beneficially owned by such person or entity, ~~2019~~including shares which may be acquired within 60 days on exercise of warrants or options and ~~2018. During~~conversion of convertible securities, and (b) the ~~year~~denominator ~~ended~~is ~~June~~the ~~30,~~sum ~~2018~~of (i) the total shares of common stock outstanding on October 8, ~~$26~~2020 (257,~~700~~874,025) ~~was~~and ~~forgiven~~(ii) ~~resulting~~the intotal annumber ~~increase~~of inshares ~~additional~~that ~~paid~~the inbeneficial ~~capital~~owner may acquire upon conversion of the preferred stock and ~~decrease~~on ~~due~~ exercise of the warrants and options, if any, subject to ~~related~~limitations ~~parties~~on ofconversion ~~$26~~and exercise. Unless otherwise stated,~~700~~ each beneficial owner has sole power to vote and dispose of its shares.

~~NOTE 8~~(2) –Tong ~~LITIGATION~~Siu Kei Tony is the director of Team Fu International Co., Limited, which has a registered address at 18C MG Towner, 133 HOI BUN Rd., Hong Kong.

There were no legal proceedings against the Company with respect to matters arising in the ordinary course of business. Neither the Company nor any of its officers or directors is involved in any other litigation either as plaintiffs or defendants, and have no knowledge of any threatened or pending litigation against them or any of the officers or directors.27

~~NOTE 9~~ITEM –13. ~~SUBSEQUENT~~CERTAIN ~~EVENTS~~RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

~~On October~~There 1,were ~~2019,~~no ~~the~~related transactions ~~Company entered into a share exchange agreement~~ with ~~Well~~our ~~Benefit~~director, ~~International~~executive ~~Limited (“Well Benefit”)~~officer, a ~~British~~or ~~Virgin~~stockholder ~~Islands~~holding ~~company,~~at ~~and~~least ~~all~~5% of ~~the~~shares ~~shareholders~~ of ~~Well~~our ~~Benefit~~common ~~(the~~stock, ~~“Shareholders”)~~or toany ~~acquire all~~family ofmember ~~the~~thereof ~~issued~~during ~~and outstanding capital stock of Well Benefit in exchange for~~ the ~~issuance~~years toended ~~the~~December ~~Shareholders an aggregate of 252~~31,~~874,025 shares~~ of2019 ~~common~~and ~~stock~~2018 ofthat ~~the~~exceeds ~~Company (the “Reverse Merger”)~~$120,000. ~~The Reverse Merger is expected to be closed by the end of October 2019.~~

~~F-11~~ As disclosed above, on October 1, 2019, the Company entered into a Share Exchange Agreement with Well Benefit the Shareholders of Well Benefit acquire all of the issued and outstanding capital stock of Well Benefit in exchange for the issuance to the Shareholders an aggregate of 252,874,025 shares of Common Stock. Mr. Leung Kwok Hei (our former Chief Executive Officer) and Mr. Chan Hiu are among the Shareholders and will respectively receive 10,880,000 shares and 10,090,000 shares of Common Stock of the Company upon closing of the Reverse Merger in accordance with the Share Exchange Agreement.

ITEM 14.

PRINCIPAL ACCOUNTING FEES AND SERVICES

On August 12, 2019, we dismissed M&K CPAS, PLLC (“M&K”) as our independent registered public accounting firm and on the same date, we engaged WWC, P.C. (“WWC”) as our new independent registered public accounting firm.

The following table shows the fees that we paid for audit and other services provided by M&K, our former independent registered public accounting firm, for fiscal years 2019 and 2018.

	Fiscal 2019		Fiscal 2018

Audit Fees	$	—	$	4,000
Audit-Related Fees	$	—	$	3,750
Tax Fees		—		—
All Other Fees		9,000		—

Total	$	9,000	$	7,750

The following table shows the fees that we paid for audit and other services provided by WWC for fiscal years 2019 and 2018.

	Fiscal 2019		Fiscal 2018

Audit Fees	$	25,000	$	—
Audit-Related Fees		18,277		—
Tax Fees		—		—
All Other Fees		—		—

Total	$	43,277	$	—

The Company does not currently have a separate audit committee. Rather, the Board serves as the audit committee. Our Board has reviewed and approved the above fees and believes such fees are compatible with the independent registered public accountants’ independence.

PART IV

ITEM 15.

EXHIBITS

(a)(1) Financial Statements

See “Index to Financial Statements” set forth following the signature paged of this report.

(a)(2) Financial Statement Schedules

None. The financial statement schedules are omitted because they are inapplicable or the requested information is shown in our financial statements or related notes thereto.

Exhibits

The following exhibits of the Company are included herein.

2.1	Share Exchange Agreement dated October 1, 2019 among Global Seed Corporation, Well Benefit International Limited, and the shareholders of Well Benefit International Limited (incorporated by reference to Exhibit 10.1 of our Current Report on Form 8-K filed on October 2, 2019)

3.1	Certificate of Filing (incorporated by reference to Exhibit 3.1 of our Registration Statement on Form S-1 filed on October 4, 2011)

3.2	Bylaws (incorporated by reference to Exhibit 3.2 of our Registration Statement on Form S-1 filed on October 4, 2011)

4.1	Form of the Convertible Note*

10.1	English Translation of the Form of the Ka Su Le Cooperation Contract (incorporated by reference to Exhibit 10.1 of our Current Report on Form 8-K filed on October 31, 2019)

10.2	English Translation of the Form of “A Cup of Coffee Please” Authorized Cooperation Contract (incorporated by reference to Exhibit 10.2 of our Current Report on Form 8-K filed on October 31, 2019)

10.3	General Sales Agreement by and between Dongguan Zhenghao Industrial Investment Company Limited and KUBE Development Ltd. dated January 1, 2020 *

10.4	English Translation of the Cooperation Agreement by and between Dongguan Zhenghao Industrial Investment Company Limited and KUBE Development Ltd. dated January 1, 2020*

10.5	English Translation of the Lease Agreement by and between Dongguan Zhenghao Industrial Investment Company Limited Wang Liping dated November 8, 2017 (incorporated by reference to Exhibit 10.5 of our Current Report on Form 8-K filed on October 31, 2019)

10.6	English Translation of the Lease Agreement by and between Dongguan Zhenghao Industrial Investment Company Limited and Li Decheng dated November 08, 2017 (incorporated by reference to Exhibit 10.6 of our Current Report on Form 8-K filed on October 31, 2019)

10.7	Form of the Convertible Note Purchase Agreement*

10.8	General Sales Agreement by and between the GAIS Hong Kong Company Ltd. and Bright Sun Coffee Co. Ltd. dated March 1, 2018 (incorporated by reference to Exhibit 10.3 of our Current Report on Form 8-K filed on October 31, 2019)

10.9	English Translation of the Coffee Formula Cooperation Agreement by and between Dongguan Zhenghao Industrial Investment Company Limited and Bright Sun Coffee Co. Ltd. dated March 1, 2018 (incorporated by reference to Exhibit 10.4 of our Current Report on Form 8-K filed on October 31, 2019)

21.1	List of Subsidiaries of Registrant (incorporated by reference to Exhibit 21.1 of our Current Report on Form 8-K filed on October 31, 2019)

31.1	Section 302 Certification by the Corporation’s Chief Executive Officer *

31.2	Section 302 Certification by the Corporation’s Chief Financial Officer *

32.1	Section 906 Certification by the Corporation’s Chief Executive Officer and Chief Financial Officer **


101.INS*	XBRL Instance Document

101.SCH*	XBRL Taxonomy Extension Schema Document

101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*	XBRL Taxonomy Extension Label Linkbase Document

101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

Filed herewith.

Furnished herewith

SIGNATURES

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

	GLOBAL SEED CORPORATION

Date: October 9, 2020

	By:	/s/ Lam Heung Yeung Horace
		Lam Heung Yeung Horace
		Chief Executive Officer

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

BY:	/s/ Lam Heung Yeung Horace	Director and Chief Executive	Date: October 9, 2020
	Lam Heung Yeung Horace	Officer (Principal Executive Officer)

BY:	/s/ Chan Hiu	Director Chief Financial Officer	Date: October 9, 2020
	Chan Hiu	(Principal Executive Officer and Principal Financial Officer)

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

GLOBAL SEED CORPORATION

Financial Statements

Contents		Page

Report of Independent Registered Public Accounting Firm		F-0

Consolidated Balance Sheets		F-1

Consolidated Statements of Operations and Comprehensive Loss		F-2

Consolidated Statements of Changes in Stockholders’ Equity		F-3

Consolidated Statements of Cash Flows		F-4

Notes to Consolidated Financial Statements		F-5 to F-15

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To:

The Board of Directors and Stockholders of

GLOBAL SEED CORPORATION

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of GLOBAL SEED CORPORATION (the “Company”) as of December 31, 2019 and 2018, and the related consolidated statements of operations and comprehensive loss, consolidated statements of changes in stockholders’ deficit, and consolidated statements of cash flows for the two years ended December 31, 2019, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for the two years ended December 31, 2019, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 13 to the financial statements, the Company had incurred substantial losses and has a working capital deficit, which raises substantial doubt about its ability to continue as a going concern. Management’s plan in regards to these matters are also described in Note 13. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ WWC, P.C.
WWC, P.C.

Certified Public Accountants

We have served as the Company’s auditor since August 12, 2019

San Mateo, California

October 9, 2020

F-0

GLOBAL SEED CORPORATION

CONSOLIDATED BALANCE SHEETS

(AUDITED)

	December 31,
	2019			2018

Assets
Current Assets:
Cash and cash equivalents	$	313,450		$	8,717
Accounts receivable, net		30,839			12,801
Inventories		224,418			24,794
Prepayments		82,930			-
Prepaid taxes		-			12,763
Due from related parties		25,406			16,742
Total Current Assets		677,043			75,817

Property and equipment, net		189,493			22,185
Right-of-use assets, net		172,807			-
Intangible assets, net		-			4,828
Total Assets	$	1,039,343		$	102,830

Liabilities and Stockholders’ (Deficit) Equity
Current Liabilities:
Lease obligations, current		58,560			-
Accounts and taxes payables and accruals		124,617			30,606
Advances from customers		315,394			81,410
Due to related parties		1,528,246			270,021
Total Current Liabilities		2,026,817			382,037

Long term liabilities:

Lease obligations, long term		117,699			-
Convertible notes, net		210,417			-
Total Liabilities		2,354,933			382,037

Stockholders’ Equity:

Common stock (8,999,886,999 shares authorized, 257,874,025 issued and outstanding at December 31, 2019 and 2018, respectively)		25,787			25,787
Paid in capital		161,863			91,863
Accumulated deficit		(1,520,157	)		(405,989	)
Accumulated other comprehensive loss		21,615			10,626
Stockholders’ deficit		(1,310,892	)		(277,713	)
Non-controlling interest		(4,698	)		(1,494	)
Total Deficit		(1,315,590	)		(279,207	)
Total Liabilities and Stockholders’ Deficit	$	1,039,343		$	102,830

See accompanying notes to consolidated financial statements

F-1

GLOBAL SEED CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(AUDITED)

	Year ended December 31, 2019			Year ended December 31, 2018
Net revenues	$	195,917		$	16,493
Cost of revenues		125,572			11,807
Gross profit		70,345			4,686

Operating expenses:
Selling and marketing expenses		69,732			12,575
General and administrative expenses		1,116,473			410,170
Total operating expenses		1,186,205			422,745

Operating loss		(1,115,860	)		(418,059	)

Other income (expenses):
Interest income		44			11
Interest expenses		(1,190	)		(9	)
Other income		339			321
Other expenses		(678	)		-
Total other income and (expenses)		(1,485	)		323
Loss before tax		(1,117,345	)		(417,736	)
Income tax		27			123

Net loss		(1,117,372	)		(417,859	)

Non-controlling interest		(3,204	)		-
Net loss attributable to GLBD stockholders		(1,114,168	)		(417,859	)
Other comprehensive income:
Foreign currency translation income		10,989			10,393
Comprehensive loss	$	(1,103,179	)	$	(407,466	)

Loss per share: basic and diluted	$	0.00		$	0.00
Basic weighted average shares outstanding		257,874,025			257,874,025
Diluted weighted average shares outstanding		257,883,614			257,874,025

See accompanying notes to consolidated financial statements

F-2

GLOBAL SEED CORPORATION

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

(AUDITED)

	No.		Common		Paid-in		Accumulated			Accumulated Other Comprehensive		Non-Controlling
	Shares		Stock		Capital		Deficit			Loss		Interest			Total
Balance, January 1, 2018		5,000,000	$	500	$	51,758	$	(92,549	)	$	-		-		$	(40,291	)
Recapitalization		252,874,025		25,287		40,105		104,419			-		-			169,811
Net loss attributable to GLBD stockholders				-		-		(417,859	)		-		-			(417,859	)
Non-controlling interests arising on business combinations				-		-		-			-		(1,494	)		(1,494	)
Foreign currency translation adjustment				-		-		-			10,626		-			10,626

Balance, December 31, 2018		252,874,025	$	25,787	$	91,863	$	(405,989	)	$	10,626	$	(1,494	)	$	(279,207	)

Balance, January 1, 2019		252,874,025	$	25,787	$	91,863	$	(405,989	)	$	10,626	$	(1,494	)	$	(279,207	)
Net loss attributable to GLBD stockholders				-		-		(1,114,168	)		-		(3,204	)		(1,117,372	)
Recognition of beneficial conversion feature from issuance of convertible notes				-		70,000		-			-		-			70,000
Foreign currency translation adjustment				-		-		-			10,989		-			10,989

Balance, December 31, 2019		252,874,025	$	25,787	$	161,863	$	(1,520,157	)	$	21,615	$	(4,698	)	$	(1,315,590	)

See accompanying notes to consolidated financial statements

F-3

GLOBAL SEED CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(AUDITED)

	For the year ended
	December 31,
	2019			2018

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(1,117,372	)	$	(417,859	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		22,317			3,088
Interest expenses		1,190			-
Non-cash lease expense		3,481			-
Changes in operating assets and liabilities:
Accounts and other receivables		(14,018	)		(13,308	)
Inventories		(201,671	)		(25,775	)
Prepayment and deposits		(70,476	)		(18,288	)
Accounts payable and accrued payables		329,945			115,920
Net cash used in operating activities		(1,046,604	)		(356,222	)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment		(191,359	)		(26,151	)
Net cash used in investing activities		(191,359	)		(26,151	)

CASH FLOWS FROM FINANCING ACTIVITIES
Changes in related party balances, net		1,262,738			391,166
Proceeds from issuance of convertible notes		280,000			-
Net cash provided by financing activities		1,542,738			391,166

EFFECT OF EXCHANGE RATE ON CASH		(42	)		(346	)

NET INCREASE (DECREASE) IN CASH		304,733			8,447
CASH, BEGINNING OF YEAR		8,717			270
CASH, END OF YEAR	$	313,450		$	8,717

SUPPLEMENTAL DISCLOSURES:
Cash paid during the period for:
Interest paid, net of capitalized interest	$	-		$	9
Interest received		44			11
Income taxes (refunded) paid		(1,448	)		123

See accompanying notes to consolidated financial statements

F-4

GLOBAL SEED CORPORATION

NOTES OF CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2019

NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS

Global Seed Corporation (the “Company” or “GLBD”) was incorporated on July 13, 2010 in the State of Texas. A substantial portion of the Company’s initial business activities had involved developing a business plan and establishing contacts and visibility in the Asian communities in Houston, Texas. The Company had a change in control on June 2, 2018.

On October 1, 2019, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Well Benefit International Limited (“Well Benefit”) and all of its shareholders (the “Shareholders”), whereby the Company agreed to newly issue 252,874,025 shares of its common stock to the Shareholders in exchange for all of the outstanding ordinary shares of Well Benefit (such transaction, the “Reverse Merger”). On October 30, 2019, the Reverse Merger contemplated under the Share Exchange Agreement was closed. This transaction has been accounted for a reverse takeover transaction and a recapitalization of the Company whereby the Company, the legal acquirer, is the accounting acquiree, and Well Benefit, the legal acquiree, is the accounting acquirer. As a result, the Company elects to consolidate the financial statements of Well Benefit, including those of Dongguan Zhenghao Industrial Investment Company Limited (“Zhenghao”), the wholly-owned PRC subsidiary of Well Benefit, into the Company as if the Reverse Merger were consummated from the beginning of the periods covered by this report.

Well Benefit is a company formed in the British Virgin Islands on September 3, 2018. Well Benefit is a holding company. Its primary business activities are conducted through its wholly owned subsidiaries in Guangdong province in the People’s Republic of China (“PRC”). Well Benefit primarily sells coffee capsules, capsules for healthy drinks and coffee brewing machines through wholesale and retail.

Agility International Holding Limited (“Agility”) was incorporated on July 8, 2018 in Hong Kong with limited liability. It is a wholly owned subsidiary of Well Benefit.

On September 25, 2018 Shangshang (Guangzhou) Industrial Investment Company Limited (“Shangshang”) was incorporated as wholly owned foreign entity in the PRC. It is a wholly owned subsidiary of Agility.

Dongguan Zhenghao Industrial Investment Company Limited was incorporated on January 26, 2017. Zhenghao was acquired by Shangshang on or about December 27, 2018; accordingly, Zhenghao is wholly-owned subsidiary of Shangshang.

On September 7, 2018, Zhenghao registered Dongguan Kasule Food and Drink Company Limited (“Dongguan Kasule”) with the local industrial and commercial bureau as its wholly owned subsidiary. On February 19, 2019, Zhenghao acquired Shenzhen Kasule Food and Drink Company Limited (“Shenzhen Kasule”).

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“US GAAP”). The basis of accounting differs from that used in the statutory accounts of the Company, which are prepared in accordance with the accounting principles of the PRC (“PRC GAAP”). The differences between US GAAP and PRC GAAP have been adjusted in these financial statements. The Company’s functional currency is the Chinese Renminbi (“RMB”); however, the accompanying consolidated financial statements have been translated and presented in United States Dollars (“USD”).

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These financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company balances, fees, and expenses have been eliminated in consolidation.

Use of Estimates

The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of three months or less, and unencumbered bank deposits to be cash equivalents.

Accounts Receivable

Receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off against allowances.

Inventories

Inventories consist of finished goods that are stated at the lower of cost or market value. The Company applies the weighted average cost method to its inventory.

Prepayments

The Company makes advance payment to suppliers and vendors for the procurement of goods. Upon physical receipt and inspection of the goods from suppliers the applicable amount is reclassified from prepayments to inventory.

Property and Equipment

Plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. The Company’s typically applies a salvage value of 0% to 10%. The estimated useful lives of the plant and equipment are as follows:

Machinery and equipment

5-10 years

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts, and any gain or loss are included in the Company’s results of operations. The costs of maintenance and repairs are recognized to expenses as incurred; significant renewals and betterments are capitalized.

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are recognized as its own right-of-use (“ROU”) asset category in the Company’s property and equipment, and the corresponding lease obligations are recognized to current and non-current liabilities. Finance leases are also included as equipment in property and equipment and the corresponding lease obligations are also recognized in current and non-current liabilities in the Company’s statement of financial condition.

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ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

When we have lease agreements with lease and non-lease components, they are generally accounted for separately. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities.

Accounting for Long-lived Assets

The Company annually reviews its long-lived assets for impairment or whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Impairment may be the result of becoming obsolete from a change in the industry, introduction of new technologies, or if the Company has inadequate working capital to utilize the long-lived assets to generate the adequate profits. Impairment is present if the carrying amount of an asset is less than its expected future undiscounted cash flows.

If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed are reported at the lower of the carrying amount or fair value less costs to sell.

Advances from Customers

Advances from customers consist of prepayments from customers for merchandise that had not yet been shipped. The Company will recognize the deposits as revenue as customers take delivery of the goods and title to the assets is transferred to customers in accordance with the Company’s revenue recognition policy.

Financial Instruments

The Company’s financial instruments, including cash and equivalents, accounts and other receivables, accounts and other payables, accrued liabilities and short-term debt, have carrying amounts that approximate their fair values due to their short maturities. ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

	●	Level 1 - inputs to the valuation methodology used quoted prices for identical assets or liabilities in active markets.

	●	Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

	●	Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.

The convertible notes issued by the Company are financial instruments that are carried at amortized cost.

F-7

Commitments and Contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

Beneficial Conversion Valuation

The Company records a beneficial conversion feature (“BCF”) related to the issuance of convertible debt instruments that have conversion features at fixed rates that are in-the-money when issued. The BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds to equity, based on their relative fair value, and as a reduction to the carrying amount of the convertible instrument equal to the intrinsic value of the conversion feature. The discounts recorded in connection with the BCF are recognized to the results operations as an interest expense over the term of the debt, using the effective interest method.

Statutory Reserves

Statutory reserves are referring to the amount appropriated from the net income in accordance with laws or regulations, which can be used to recover losses and increase capital, as approved, and are to be used to expand production or operations. PRC laws prescribe that an enterprise operating at a profit must appropriate and reserve, on an annual basis, an amount equal to 10% of its profit. Such an appropriation is necessary until the reserve reaches a maximum that is equal to 50% of the enterprise’s PRC registered capital.

Foreign Currency Translation

The accompanying consolidated financial statements are presented in United States dollars. The functional currencies of the Company are in Renminbi (RMB) and Hong Kong Dollar (HKD). The Company’s assets and liabilities are translated into United States dollars from RMB and HKD at year-end exchange rates, and its revenues and expenses are translated at the average exchange rate during the year. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

	2019		2018
Year-end RMB: US$ exchange rate		6.9668		6.8764
Annual average RMB: US$ exchange rate		6.9072		6.6146
Year-end HKD: US$ exchange rate		7.7872		7.8312
Annual average HKD: US$ exchange rate		7.8345		7.8370

The RMB and HKD are not freely convertible into foreign currencies and all foreign exchange transactions must be conducted through authorized financial institutions.

Related Parties

Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions.

Revenue Recognition

The Company adopted ASC 606 “Revenue Recognition”, and recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration that the Company expects to be entitled to in exchange for those goods or services.

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The Company derives its revenues from the sale of coffee ad coffee related products. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfils its obligations under each of its agreements:

	●	identify the contract with a customer;

	●	identify the performance obligations in the contract;

	●	determine the transaction price;

	●	allocate the transaction price to performance obligations in the contract; and

	●	recognize revenue as the performance obligation is satisfied.

Income Taxes

The Company accounts for income tax using an asset and liability approach and allows for recognition of deferred tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future realization is uncertain.

Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) comprised of net income (loss) and all changes to the statements of stockholders’ equity, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. The Company’s comprehensive income (loss) consists of net income (loss) and unrealized gains from foreign currency translation adjustments.

Recent Accounting Pronouncements

In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this Update affect any entity that is required to apply the provisions of Topic 220, Income Statement – Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this Update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements.

Advertising

All advertising costs are expensed as incurred.

Shipping and Handling

All outbound shipping and handling costs are expensed as incurred.

Research and Development

All research and development costs are expensed as incurred.

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Retirement Benefits

Retirement benefits in the form of mandatory government sponsored defined contribution plans are charged to the either expenses as incurred or allocated to inventory as part of overhead.

Comprehensive Income

The Company uses FASB ASC Topic 220, “Reporting Comprehensive Income”. Comprehensive income is comprised of net income and all changes to the statements of stockholders’ equity, except the changes in paid-in capital and distributions to stockholders due to investments by stockholders.

Earnings per Share

The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis from the potential conversion of convertible securities or the exercise of options and or warrants; the dilutive effects of potentially convertible securities are calculated using the as-if method; the potentially dilutive effect of options or warrants are calculated using the treasury stock method. Securities that are potentially an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

NOTE 3 – ACCOUNTS RECEIVABLE

The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances.

NOTE 4 – PREPAYMENTS

The prepayment balance of $82,930 as of December 31, 2019 mainly represents the advanced payment to the suppliers for the production of coffee capsules and coffee machines.

NOTE 5 – INVENTORY

The Company’s inventory was comprised of finished goods. No impairment was recorded.

NOTE 6 – PLANT AND EQUIPMENT

	2019			2018
At Cost:
Machinery and equipment	$	214,551		$	25,155

Less: Accumulated depreciation		(25,058	)		(2,970	)

	$	189,493		$	22,185

Depreciation expense was $22,317 and $3,088 for the years ended December 2019 and 2018, respectively.

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NOTE 7 – LEASE ASSETS

The Company’s leased assets include office space and warehouse. The Company’s current lease portfolio has remaining terms from less than one-year up to three years. Renewal options are excluded from the Company’s calculation of lease liabilities unless it is reasonably assured the renewal option will be exercised. The Company’s lease agreements do not contain residual value guarantees or material restrictive covenants.

Operating leases are reflected on our balance sheet within property and equipment and right-of-use assets and the related current and non-current operating lease liabilities. ROU assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from lease agreement. Operating lease ROU assets and liabilities are recognized based upon the present value of the lease payments over the respective lease term. Lease expense is recognized on a straight-line basis over the lease term, subject to any changes in the lease or expectation regarding the terms. Variable lease costs such as common area maintenance, property taxes and insurance are expensed as incurred.

Operating Leases	12/31/2019

Operating leases ROU assets, net	$	172,807

Operating leases liabilities (current)	$	58,560
Operating leases liabilities (noncurrent)		117,699
	$	176,258

Average remaining terms			26 months
Average discount rate			3	%

For year ended December 31, 2019, the lease expense was as follows:

Lease Expense

Operating lease expense	$	66,763
Short-term lease expense		13,603
Total lease expense	$	80,366

Future minimum lease payments under leases that had initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2019, based on the former accounting guidance for leases, are as follows:

Year	Amount

2020	$	322,783
2021		58,405
2022		63,077
2023		-
2024		-
Thereafter		-
	$	444,265

NOTE 8 – RELATED PARTY TRANSACTIONS

At December 31, 2019 and 2018, the Company was owed by the following related parties for the advanced fund, which were unsecured, non-interest bearing, and due on demand:

Entity		2019				2018				Relationship
Dong Guan Humen Kasule Food and Drink Company		$	25,406			$	16,472			Authorized Brand Store

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As of December 31, 2019 and 2018, the Company had outstanding balance owed to the related parties listed below for funds advanced to the Company for general working capital purposes. These funds were unsecured, non-interest bearing, and due on demand:

Entity	2019		2018		Relationship
Chan Hiu	$	65,077	$	-	Director of Global Seed Corporation
Leung Kwok Hei		-		11,746	Director of Global Seed Corporation
Mo Qingtao		6,836		285	Director of Well Benefit
Liang Guoxi		93,719		255,954	Director of Agility
Chen Yuexiang		1,343,705		-	Authorized Representative of Zhenghao
Liang Guoxi		4,579		2,036	Authorized Representative of Shangshang
Chen Yuexiang		14,330		-	Director of Dongguan Kasule
	$	1,528,246	$	270,021

NOTE 9 – CONVERTIBLE NOTES

In December 2019, the Company closed private placements for the sales of convertible notes. The Company has received in total $280,000 net proceeds from six convertible note holders pursuant to six notes. Each note bears 15% annual interest and payable at maturity, which is thirty (30) months from the issuance dates. Each note holder has the right, at the holder’s option, to convert all or any portion of the outstanding principal of the note to the Company’s common stock. The applicable conversion price is the average stock price, based on a 30-trading-date period prior to the conversion, with 20% discount.

The Company may not redeem the note at its option at any time before the first year anniversary from the issuance date. Afterward, the Company may elect to redeem all or any portion of the note with purchase price including premium determined by the redemption schedule.

The beneficial conversion feature (“BCF”) of these notes are recognized and measured by allocating a portion of the proceeds to equity, based on their relative fair value, and as a reduction to the carrying amount of the convertible notes equal to the intrinsic value of the conversion feature. The value of BCF related to these notes are recognized periodically as interest expense over the term of the debt, using the effective interest method.

The aggregate principal of $280,000 and the related BCF valued at $70,000 were recorded as a liability and discount to the liability, respectively. The value of BCF was also recognized as additional paid-in capital.

For the year ended December 31, 2019, the total interest for the notes was $1,190, of which $773 was interest accrued based on coupon rate and $417 was amortization of the BCF discount. As of December 31, 2019, the net BCF value was $69,583.

As of December 31, 2019, the potential total conversion shares for the outstanding convertible notes were 205,882 additional shares of common stock of the Company, based on the applicable conversion price of $1.36 per share.

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NOTE 10 – GENERAL AND ADMINISTRATIVE EXPENSES

For years ended December 31, 2019 and 2018, total general and administrative expenses were $1,116,473 and $410,170, respectively, and the details were as follows:

	2019			2018
Accounting	$	8,551		$	3,500
Audit Fees		47,910			-
Bank Service		1,666			272
Business License & Tax		5,815			4,348
Consulting Fees		122,981			-
Depreciation		22,317			3,088
Exchange Gain or Loss		(609	)		-
Facility Costs		26,035			28,242
Insurance		1,534			-
Legal Services		141,558			28,311
Office Expense		49,554			74,133
Office Rent		80,366			37,847
Other		35,691			6,986
R&D		43,471			4,505
Salary and Benefits		481,880			154,985
Shipping		7,123			6,308
Travel Expense		40,630			57,645
	$	1,116,473		$	410,170

NOTE 11 – INCOME TAXES

We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which thse temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. We have no material uncertain tax positions for any of the reporting periods presented.

Our effective tax rate for fiscal year 2019 is 21%, which we expect to be fairly consistent in the near term. Our tax rate may also be affected by discrete items that may occur in any given year, but are not consistent from year to year. Income taxes are calculated and accrued for U.S. taxes only.

The Company’s subsidiary formed in the British Virgin Islands is not subject to tax on its income or capital gains. In addition, upon payments of dividends by the Company to its shareholders, no withholding tax is imposed.

The Company’s subsidiary formed in Hong Kong is subject to the profits tax rate at 16.5% for income generated and operation in the special administrative region.

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The Company’s subsidiaries incorporated in the PRC are subject to profits tax rate at 25% for income generated and operation in the country.

The full realization of the tax benefit associated with the carry forward depends predominantly upon the Company’s ability to generate taxable income during the carry forward period.

The Company’s subsidiaries incorporated in the PRC has unused net operating losses (“NOLs”) available for carry forward to future years for PRC income tax reporting purposes up to five years. The Company did not recognize a deferred tax asset at December 31, 2019, because management could not reasonably estimate when the Company would generate profits to utilize such a deferred tax asset.

In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

The following table reconciles the statutory rates to the Company’s effective tax rate:

	12/31/2019			12/31/2018
Statutory rates in the State of Texas		-			-
Statutory rates in the British Virgin Islands		-			-
Statutory rates in Hong Kong		16.50	%		16.50	%
Statutory rates in PRC		25.00	%		25.00	%
Non-deductible items in the PRC		-0.03	%		-0.03	%
Foreign earned income not subject to taxes in the British Virgin Islands		(41.50	)%		(41.50	)%
Effective income tax rate		-0.03	%		-0.03	%

Loss before taxes:
State of Texas		(185,889	)		(11,630	)
British Virgin Islands		-			-
Hong Kong		(9,898	)		(287	)
PRC		(921,558	)		(405,819	)
	$	(1,117,345	)		(417,736	)

NOTE 12 – RISKS

Credit Risk

The Company’s deposits are made with banks located in the PRC. They do not carry U.S. federal deposit insurance and may be subject to loss if the banks become insolvent.

Since the Company’s inception, the age of account receivables has been less than one year indicating that the Company is subject to minimal risk borne from credit extended to customers.

Interest Risk

The Company is subject to interest rate risk when short term loans become due and require refinancing.

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Economic and Political Risks

The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by changes in the political, economic, and legal environments in the PRC.

The Company’s operations in the PRC are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation, among other things.

The outbreak of the novel coronavirus, commonly referred to as “COVID-19”, first found in mainland China, then in Asia and eventually throughout the world, has significantly affected business and manufacturing activities within China, including travel restrictions, widespread mandatory quarantines, and suspension of business activities within China. The Company’s sales and operations were materially adversely affected by this global pandemic. These government mandates may cause severe business disruptions to our customers and suppliers, and may also lead to postponement of payment from these parties. Our business operation was suspended until early March of 2020. Further, our manufacturing and branding business activities depend on reliable sources of raw materials such as bulk packaged Fenjiu liquor from Shanxi Province and bulk packaged imported wines from foreign countries. We have experienced substantive diminutions in raw material supplies due to the COVID-19 outbreak and ensuing lockdowns, which has negatively impacted our business. Accordingly, our business, results of operations and financial condition were adversely affected. In light of the current situation, we estimate that our revenues and net income for the fiscal quarter ended on March 31, 2020 would decrease due to the COVID-19 outbreak.

Inflation Risk

Management monitors changes in prices levels. Historically inflation has not materially impacted the Company’s financial statements; however, significant increases in the price of raw materials and labor that cannot be passed to the Company’s customers could adversely impact the Company’s results of operations.

NOTE 13 – GOING CONCERN

The Company’s ability to continue as a going concern is dependent upon the Company’s profitability and working capital. If the Company is unable to meet the financial obligations with its current assets, it may become insolvent and cease to continue as a going concern.

For the years ended December 31, 2019 and 2018, the Company reported net loss of $1,117,372 and $417,859, and net loss from operation of $1,115,860 and $418,059, respectively. As of December 31, 2019 and 2018, the Company had working capital deficit of approximately $1,349,774 and $306,220, respectively.

The Company had net cash outflow of $1,046,604 and $356,222 from its operating activities during the year ended December 31, 2019 and 2018. The net cash inflows in 2019 is primarily related to $280,000 in net proceeds from the issuance of our convertible notes.

The Company management has taken various measures to reduce operating costs to minimize the economic impact of the current pandemic. The Company has raised additional working capital by sale of debt securities through private placements.

NOTE 14 - SUBSEQUENT EVENTS

The Company evaluates subsequent events that has occurred after the balance sheet date but before the financial statements are issued. There are two types of subsequent events: (1) recognized, or those that provide additional evidence with respect to conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements, and (2) non-recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date.

The Company experienced a decline in sales after December 31, 2019 as it was not able to conduct business during the first quarter of 2020 as result of the global COVID-19 pandemic.

No other significant subsequent events have been identified that would require adjustment of or disclosure in the accompanying consolidated financial statements.

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