UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, ~~2009~~2010

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE

ACT OF 1934

For the transition period from ______ to ______

Commission file number: 333-146883

GLOBAL INDUSTRIES CORP.

(Name of small business issuer in its charter)

Nevada	8071	68-0659686
(State or jurisdiction of incorporation or organization)	(Primary Standard Industrial Classification Code Number)	(IRS Employer Identification No.)

~~357 South~~5405 ~~Fairfax~~Wilshire ~~Avenue~~Blvd., Suite 265

~~Suite 422~~ Los Angeles, CA 90036

(Address of principal executive offices)

(323) ~~580~~ 330-~~9255~~9565

(Registrant's telephone number)

SECURITIES REGISTERED PURSUANT TO SECTION 12(B)

OF THE EXCHANGE ACT:

None

SECURITIES REGISTERED PURSUANT TO SECTION 12(G)

OF THE EXCHANGE ACT:

None

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

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

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ].

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X]

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

Large accelerated filer ¨[ ] Accelerated filer ¨[ ] Non-accelerated filer “[ ] (Do not check if a smaller reporting company) Smaller reporting company [X]

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this form, and no disclosure will be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-K [ ].

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

The issuer had no revenues for the fiscal year ended December 31, ~~2009~~2010.

The aggregate market value of the issuer's voting and non-voting common equity held by non-affiliates computed by reference to the average bid and ask price of such common equity as of ~~March~~June 30, ~~2009~~2010, was $0, as the issuer’s common stock had no bid or ask price on the ~~Over-The-Counter~~Pink ~~Bulletin~~Sheets ~~Board~~ on that date.

At ~~April 12~~March 8, ~~2010~~2011, there were 10,800,000 shares of the issuer's common stock outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X].

TABLE OF CONTENTS

	Page
PART I
Item 1. Business	4
Item 1A. Risk Factors	5
Item 1B. Unresolved Staff Comments	10
Item 2. Properties	10
Item 3. Legal Proceedings	10
Item 4. (Removed and Reserved)	10

PART II
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	11
Item 6 Selected Financial Data	11
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations	11
Item 7A. Quantitative and Qualitative Disclosure About Market Risk	13
Item 8. Financial Statements and Supplementary Data	13
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	13
Item 9A(T). Controls and Procedures	13
Item 9B. Other Information	15

PART III
Item 10. Directors, Executive Officers and Corporate Governance	16
Item 11. Executive Compensation	17
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	20
Item 13. Certain Relationships and Related Transactions, and Director Independence	21
Item 14. Principal Accounting Fees and Services	21

PART IV
Item 15. Exhibits and Financial Statement Schedules	22

PART I

ITEM 1.	DESCRIPTION OF BUSINESS	3
ITEM 2.	DESCRIPTION OF PROPERTY	9
ITEM 3.	LEGAL PROCEEDINGS	9
ITEM 4.	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS	9

PART II

ITEM 5.	MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS	10
ITEM 6.	SELECTED FINANCIAL DATA	11
ITEM 7.	MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION	11
ITEM 8.	FINANCIAL STATEMENTS	F-1
ITEM 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE	13
ITEM 9A.	CONTROLS AND PROCEDURES	13
ITEM 9B.	OTHER INFORMATION	13

PART III

ITEM 10.	DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT	14
ITEM 11.	EXECUTIVE COMPENSATION	15
ITEM 12.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS	17
ITEM 13.	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS	18
ITEM 14.	EXHIBITS	18
ITEM 15.	PRINCIPAL ACCOUNTANT FEES AND SERVICES	19
SIGNATURES		20

PART I

FORWARD-LOOKING STATEMENTS

ALL STATEMENTS IN THIS DISCUSSION THAT ARE NOT HISTORICAL ARE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS PRECEDED BY, FOLLOWED BY OR THAT OTHERWISE INCLUDE THE WORDS "BELIEVES", "EXPECTS", "ANTICIPATES", "INTENDS", "PROJECTS", "ESTIMATES", "PLANS", "MAY INCREASE", "MAY FLUCTUATE" AND SIMILAR EXPRESSIONS OR FUTURE OR CONDITIONAL VERBS SUCH AS "SHOULD", "WOULD", "MAY" AND "COULD" ARE GENERALLY FORWARD-LOOKING IN NATURE AND NOT HISTORICAL FACTS. THESE FORWARD-LOOKING STATEMENTS WERE BASED ON VARIOUS FACTORS AND WERE DERIVED UTILIZING NUMEROUS IMPORTANT ASSUMPTIONS AND OTHER IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS INCLUDE THE INFORMATION CONCERNING OUR FUTURE FINANCIAL PERFORMANCE, BUSINESS STRATEGY, PROJECTED PLANS AND OBJECTIVES. THESE FACTORS INCLUDE, AMONG OTHERS, THE FACTORS SET FORTH BELOW UNDER THE HEADING "RISK FACTORS." ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN THE FORWARD-LOOKING STATEMENTS ARE REASONABLE, WE CANNOT GUARANTEE FUTURE RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS. MOST OF THESE FACTORS ARE DIFFICULT TO PREDICT ACCURATELY AND ARE GENERALLY BEYOND OUR CONTROL. WE ARE UNDER NO OBLIGATION TO PUBLICLY UPDATE ANY OF THE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS. READERS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS. REFERENCES IN THIS FORM 10-~~KSB~~K, UNLESS ANOTHER DATE IS STATED, ARE TO DECEMBER 31, ~~2007~~ 2010. AS USED HEREIN, THE “COMPANY,” “GLOBAL,” “WE,” “US,” “OUR” AND WORDS OF SIMILAR MEANING REFER TO GLOBAL INDUSTRIES CORP., UNLESS OTHERWISE STATED.

ITEM 1. ~~DESCRIPTION OF~~ BUSINESS.

HISTORY

We were incorporated as Global Industries Corp. in Nevada on April 18, 2002 and extra provincially registered in British Columbia Canada in September 2005, under the name “Privatekits.com Inc.” We operate the websites www.privatekits.com, www.privatekits.net, and www.RevealHiv.com, which include information that we do not desire to be incorporated by reference into this annual report, and which are currently experiencing technical difficulties, and are not operational as of the date of this report, which technical difficulties the Company hopes to resolve subsequent to the date of this filing.

We operate as a web based company which plans to resell confidential, Food and Drug Administration (“FDA”) approved home testing products including pregnancy tests, ovulation tests, Human Immunodeficiency Virus (“HIV”), Hepatitis C tests and breathalyzer alcohol tests. We ~~Tests~~plan ~~purchased~~to byresell ~~our~~such ~~clients~~products ~~over~~to ~~our~~individual ~~website~~customers ~~are mailed~~through ~~directly~~our towebsite. We ~~our~~have ~~customers~~not inmade ~~plain~~any ~~unmarked~~sales ~~packaging,~~to ~~ensuring~~date. We ~~the protection~~do ofnot ~~privacy~~currently atmaintain ~~every~~an ~~level~~inventory of the ~~process. We~~products ~~have~~we ~~not~~plan ~~made any sales~~ to ~~date,~~resell and do not manufacture or test any of the products ~~we sell on our website~~. All of the testing, approval and manufacturing of the products wethat ~~sell~~will ~~are~~be ~~done~~sold will be performed by third parties. We To ~~plan~~ensure tothe ~~resell~~protection ~~such~~ of privacy, testing products tosold ~~individual~~over ~~customers~~the internet through our website~~. We~~ dowill ~~not currently~~be ~~maintain~~mailed andirectly ~~inventory~~to ofcustomers ~~the~~in ~~products~~plain weunmarked ~~plan to resell~~packaging.

We plan to offer an affiliate program as part of our promotional efforts. Through this affiliate program, we plan to pay commissions to other websites who generate test kit sales through banners on their websites. Affiliate websites need only to provide a link to privatekits.com, which in turn operates the order processing, shipping, and customer service. We do not currently have an affiliate program in place as of the date of this filing. Privatekits.com is currently experiencing technical difficulties, and is not operational as of the date of this report, which technical difficulties the Company hopes to resolve subsequent to the date of this filing.

-34-

EMPLOYEES

We do not currently have any employees other than our ~~sole~~President ~~officer~~ and Director, Tristin White, who spends approximately 10 hours per week on Company matters. Mr. White is not paid nor accrues a salary from the Company in consideration for his services.

COMPETITION

We will compete with various other websites which already sell the products we plan to sell to customers, which may already have an established brand name and/or name recognition and may be able to undercut the prices we plan to charge for our products. Furthermore, we will compete against local and chain drugstores which may offer the products we sell, and may be able to offer such products at lower prices than we charge due to the fact that such competitors will not need to factor in shipping costs to and from Canada.

DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS

We have not sold any products to date and therefore have no customers. Moving forward, we hope to build awareness of our website and products on the internet and begin making sales through our website. In the event that we are able to sell our products through the internet, we do not anticipate relying on a small number of customers for our sales, but hope to encourage sales from numerous individual customers in both Canada and the United States.

PATENTS, TRADEMARKS AND LICENSES

We do not currently have any patents, trademarks or licenses and do not have any immediate plans to apply for any such intellectual property.

NEED FOR GOVERNMENT APPROVAL

As we only plan to act as a reseller of testing kits, and not actually manufacture or receive approval for any kits, any required government approvals will be taken care of by the manufacturers of the testing kits themselves and we will not need to receive any government approval to resell our products.

~~BLANK CHECK~~ITEM ~~COMPANY~~1A. ~~ISSUES~~RISK FACTORS.

Rule 419 of the Securities Act of 1933, as amended (the “Act”) governs offerings by “blank check companies.” Rule 419 defines a “blank check company” as a development stage company that has no specific business plan or purpose or has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies, or other entity or person; and issuing “penny stock,” as defined in Rule 3a51-1 under the Securities Exchange Act of 1934.

Our management believes that the Company does not meet the definition of a “blank check company,” because, while we are in the development stage, we do have a specific business plan and purpose as described above, and our current purpose is not to engage in a merger or acquisition, and as such, we should not therefore be characterized as a “blank check company.”

ITEM 1A-RISK FACTORS

RISK FACTORS

An investment in our common stock is highly speculative, and should only be made by persons who can afford to lose their entire investment in us. You should carefully consider the following risk factors and other information in this annual report before deciding to become a holder of our common stock. If any of the following risks actually occur, our business and financial results could be negatively affected to a significant extent.

-4-

WE MAY NOT BE ABLE TO CONTINUE OUR BUSINESS PLAN AND BUSINESS ACTIVITIES WITHOUT ADDITIONAL FINANCING.

We ~~depend to~~will anot ~~great~~be ~~degree~~able onto ~~the~~continue ~~ability~~our tobusiness ~~attract~~operations ~~external~~for ~~financing~~the innext ~~order~~six ~~to conduct~~(6) ~~future~~months ~~business~~with ~~activities.~~the Wecurrent ~~are~~cash ~~currently~~we ~~funded~~have ~~solely~~on ~~by our shareholders~~hand. We anticipate the need for approximately $100,000 ~~of additional~~in ~~funding~~the next twelve (12) months to continue our business operations ~~for~~and begin the ~~next~~marketing ~~twelve~~of ~~(12) months~~our products throughout the internet. We have not made any sales of our products to date, and can make no assurances that material sales will develop in the future, if at all. Moving forward, we hope to build awareness of our website, www.privatekits.com and in turn create demand for our products and sales, of which there can be no assurance. We have not generated any revenues to date through sales of products through our website, and can make no assurances that any sales will develop in the future and/or that such sales will be sufficient to support our working capital needs. If we are unable to raise the additional funds required for our business activities in the future, we may be forced to abandon our current business plan. If you invest in us and we are unable to raise the required funds, your investment could become worthless.

~~SHAREHOLDERS WHO HOLD UNREGISTERED SHARES OF OUR COMMON STOCK ARE SUBJECT TO RESALE RESTRICTIONS PURSUANT TO RULE 144, DUE TO OUR STATUS AS A “SHELL COMPANY.”~~-5-

Pursuant to Rule 144 of the Securities Act of 1933, as amended (“Rule 144”), a “shell company” is defined as a company that has no or nominal operations; and, either no or nominal assets; assets consisting solely of cash and cash equivalents; or assets consisting of any amount of cash and cash equivalents and nominal other assets. As such, we are a “shell company” pursuant to Rule 144, and as such, sales of our securities pursuant to Rule 144 are not able to be made until 1) we have ceased to be a “shell company; 2) we are subject to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, and have filed all of our required periodic reports for a period of one year; and a period of at least twelve months has elapsed from the date “Form 10 information” has been filed with the Commission reflecting the Company’s status as a non-“shell company.” Because none of our securities can be sold pursuant to Rule 144, until at least a year after we cease to be a “shell company” (as described in greater detail above), any securities we issue to consultants, employees, in consideration for services rendered or for any other purpose will have no liquidity until and unless such securities are registered with the Commission and/or until a year after we cease to be a “shell company” and have complied with the other requirements of Rule 144, as described above. As a result, it may be harder for us to fund our operations and pay our consultants with our securities instead of cash. Furthermore, it will be harder or us to raise funding through the sale of debt or equity securities unless we agree to register such securities with the Commission, which could cause us to expend additional resources in the future. Our status as a “shell company” could prevent us from raising additional funds, engaging consultants using our securities to pay for any acquisitions (although none are currently planned), which could cause the value of our securities, if any, to decline in value or become worthless. Furthermore, as we may not ever cease to be a “shell company,” investors who purchase our restricted securities and/or non-free trading shares of our securities may be forced to hold such securities indefinitely.

OUR AUDITORS HAVE EXPRESSED SUBSTANTIAL DOUBT AS TO WHETHER OUR COMPANY CAN CONTINUE AS A GOING CONCERN.

We are in our developmental stage. We have not generated ~~sufficient~~any revenues to support our operations to date and have incurred substantial losses. The Company has ~~incurred~~ ~~net~~an ~~losses~~accumulated deficit of $13121,~~976~~859 and ~~$48,450~~a ~~for~~working ~~each~~capital deficit of ~~the~~$49,359 ~~years ended~~at December 31, ~~2009~~2010. ~~and~~In ~~2008,~~connection ~~and~~with ~~has~~our ~~an accumulated deficit of $101,389 at~~ December 31, ~~2009.~~2010 Asaudit ~~such,~~ our auditor has expressed substantial doubt about the Company's ability to continue as a going concern.

SHAREHOLDERS WHO HOLD UNREGISTERED SHARES OF OUR COMMON STOCK ARE SUBJECT TO RESALE RESTRICTIONS PURSUANT TO RULE 144, DUE TO OUR STATUS AS A “SHELL COMPANY.”

Pursuant to Rule 144 of the Securities Act of 1933, as amended (“Rule 144”), a “shell company” is defined as a company that has no or nominal operations; and, either no or nominal assets; assets consisting solely of cash and cash equivalents; or assets consisting of any amount of cash and cash equivalents and nominal other assets. As such, we are a “shell company” pursuant to Rule 144, and as such, sales of our securities pursuant to Rule 144 are not able to be made until 1) we have ceased to be a “shell company”; 2) we are subject to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, and have filed all of our required periodic reports for a period of one year; and a period of at least twelve months has elapsed from the date “Form 10 information” has been filed with the Commission reflecting the Company’s status as a non-“shell company.” Because none of our securities can be sold pursuant to Rule 144, until at least a year after we cease to be a “shell company” (as described in greater detail above), any securities we issue to consultants, employees, in consideration for services rendered or for any other purpose will have no liquidity until and unless such securities are registered with the Commission and/or until a year after we cease to be a “shell company” and have complied with the other requirements of Rule 144, as described above. As a result, it may be harder for us to fund our operations and pay our consultants with our securities instead of cash. Furthermore, it will be harder for us to raise funding through the sale of debt or equity securities unless we agree to register such securities with the Commission, which could cause us to expend additional resources in the future. Our status as a “shell company” could prevent us from raising additional funds, engaging consultants using our securities to pay for any acquisitions (although none are currently planned), which could cause the value of our securities, if any, to decline in value or become worthless. Furthermore, as we may not ever cease to be a “shell company,” investors who purchase our restricted securities and/or non-free trading shares of our securities may be forced to hold such securities indefinitely.

WE LACK AN OPERATING HISTORY WHICH YOU CAN USE TO EVALUATE US, MAKING ANY INVESTMENT IN OUR COMPANY RISKY.

We lack an operating history which investors can use to evaluate our previous earnings, as we were only incorporated in April 2002. Therefore, an investment in us is risky because we have no business history and it is hard to predict what the outcome of our business operations will be in the future.

-5-

WE HAVE A POOR FINANCIAL POSITION AND IF WE DO NOT GENERATE REVENUES, WE MAY BE FORCED TO ABANDON OUR BUSINESS PLAN.

We currently have a poor financial position. We have not generated any revenues to date. There is a risk that we will not generate revenues moving forward, and that your investment in us will not appreciate. If we do not generate revenues in the future, we may be forced to abandon our business plan and your securities may become worthless.

WE RELY UPON KEY PERSONNEL AND IF THEY LEAVE US, OUR BUSINESS PLAN AND RESULTS OF OPERATIONS COULD BE ADVERSELY AFFECTED.

We rely heavily on our Chief Executive Officer, ~~Chief~~Principal Financial Officer, Secretary, and Treasurer, Tristin White for our success. His experience and input create the foundation for our business and he is responsible for the directorship and control over our exploration activities. We do not currently have an employment agreement or "key man" insurance policy on Mr. White. Moving forward, should we lose the services of Mr. White for any reason, we will incur costs associated with recruiting a replacement and delays in our operations. If we are unable to replace him with another suitably trained individual or individuals, we may be forced to scale back or curtail our business plan and exploration activities. As a result of this, your investment in us could become devalued or worthless.

OUR OFFICERS AND DIRECTORS AND INSIDERS CAN VOTE AN AGGREGATE OF 46.5% OF OUR COMMON STOCK AND WILL EXERCISE SIGNIFICANT CONTROL OVER CORPORATE DECISIONS INCLUDING THE APPOINTMENT OF NEW DIRECTORS.

Shane Whittle, a shareholder of the Company and Tristin White, one of our officers and Directors can vote an aggregate of 5,000,000 shares or 46.5% of our outstanding common stock. Accordingly, as our largest shareholders, Mr. Whittle and Mr. White will exercise significant control in determining the outcome of corporate transactions or other matters, including the election of directors, mergers, consolidations, the sale of all or substantially all of our assets, and also the power to prevent or cause a change in control. Any investors who purchase shares will be minority shareholders and as such will have little to no say in the direction of the Company and the election of Directors. Additionally, it will be difficult if not impossible for investors to remove Mr. White as Directors of the Company, which will mean that they will remain in control of who serves as officers of the Company as well as whether any changes are made in the Board of Directors. As a potential investor in the Company, you should keep in mind that even if you own shares of the Company's common stock and wish to vote them at annual or special shareholder meetings, your shares will likely have little effect on the outcome of corporate decisions.

OUR VULNERABILITY TO SECURITY BREACHES, GLITCHES AND OTHER COMPUTER FAILURES COULD HARM OUR FUTURE CUSTOMER RELATIONSHIPS AND OUR ABILITY TO ESTABLISH OUR FUTURE CUSTOMER BASE.

-6-

WE FACE A RISK OF A CHANGE IN CONTROL DUE TO THE FACT THAT OUR CURRENT SOLE OFFICER AND DIRECTOR DOES NOT OWN A MAJORITY OF OUR OUTSTANDING VOTING STOCK.

Our current sole officer and Director, Tristin White, does not hold voting control over the Company. As a result, our shareholders who are not officers and Directors of us may be able to obtain a sufficient number of votes to choose who serves as our Directors. Because of this, the current composition of our Board of Directors may change in the future, which could in turn have an effect on those individuals who currently serve in management positions with us. If that were to happen, our new management could affect a change in our business focus and/or curtail or abandon our business operations, which in turn could cause the value of our securities, if any, to decline or become worthless.

OUR VULNERABILITY TO SECURITY BREACHES, GLITCHES AND OTHER COMPUTER FAILURES COULD HARM OUR FUTURE CUSTOMER RELATIONSHIPS AND OUR ABILITY TO ESTABLISH OUR FUTURE CUSTOMER BASE.

Because we offer the majority of our services through our Internet websites (www.privatekits.com, www.privatekits.net, and www.RevealHiv.com), the secure transmission of confidential information over public networks is a critical element of our operations. A party who is able to circumvent security measures could misappropriate proprietary information or cause interruptions in our operations. If we are unable to prevent unauthorized access to our users' information and transactions, our customer relationships will be harmed. Although we currently implement security measures, these measures may not prevent future security breaches. Additionally, heavy stress placed on our systems could cause our systems to fail or cause our systems to operate at speeds unacceptable to our users. If this were to happen, we could lose customers and if severe enough, we could be forced to curtail or abandon our business plan, which would decrease the value of any investment you have in us. Furthermore, our ability to keep our websites operational is important to our ability to market to future clients and potentially generate revenues through future sales. If our websites are not operational, potential clients have no way of learning about our services and/or purchasing products through our website. As of the filing of this report, our websites are currently experiencing technical difficulties, and are not operational, which technical difficulties the Company hopes to resolve subsequent to the date of this filing. If we are unable to bring our websites back online, we could lose potential customers, never generate revenues and we could be forced to curtail or abandon our business plan, which could cause any investment in the Company to be lost.

WE RELY ON THE INTERNET INFRASTRUCTURE, AND ITS CONTINUED COMMERCIAL VIABILITY, OVER WHICH WE HAVE NO CONTROL AND THE FAILURE OF WHICH COULD SUBSTANTIALLY UNDERMINE OUR BUSINESS STRATEGY.

Our success depends, in large part, on other companies maintaining the Internet system infrastructure, including maintaining a reliable network backbone that provides adequate speed, data capacity and security. If the Internet continues to experience significant growth in the number of users, frequency of use and amount of data transmitted, as well as the number of malicious viruses and worms introduced onto the Internet, the infrastructure of the Internet may be unable to support the demands placed on it, and as a result, the Internet's performance or reliability may suffer. Because we rely heavily on the Internet, this would make our business less profitable and would lead to a decrease in the value of our common stock.

FUTURE GOVERNMENT REGULATION OF THE INTERNET MAY ADVERSELY IMPACT OUR BUSINESS OPERATIONS.

We are dependent upon the Internet in connection with our business operations. The United States Federal Communications Commission (the "FCC") does not currently regulate companies that provide services over the Internet, as it does common carriers or tele-communications service providers. Notwithstanding the current state of the FCC's rules and regulations, the FCC's potential jurisdiction over the Internet is broad because the Internet relies on wire and radio communications facilities and services over which the FCC has long-standing authority. Compliance with future government regulation of the Internet could result in increased costs which would have a material adverse effect on our business, operating results and financial condition, and which would lower the value of any of our securities which are held by you as an investor.

-7-

OUR OPERATIONS, IF ANY, WILL BE SUBJECT TO CURRENCY FLUCTUATIONS.

While we currently only have limited operations and have not generated any revenues to date, we believe that our products, if any, will be sold in world markets in United States dollars. As a result, currency fluctuations may affect the cash flow we realize from our future sales, if any. Foreign exchange fluctuations may materially adversely affect our financial performance and results of operations.

IF THE SELLING SHAREHOLDERS OF OUR ~~RECENTLY~~ EFFECTIVE REGISTRATION STATEMENT SELL A LARGE NUMBER OF SHARES ALL AT ONCE OR IN BLOCKS, THE VALUE OF OUR SHARES WOULD MOST LIKELY DECLINE.

Our SB-2 Registration Statement became effective on January 8, 2008. Through this registration statement, the Company registered 5,570,000 shares of common stock for resale by certain of the Company’s shareholders as described therein. As described above, as we are a “shell company,” none of the Company’s non-registered shares will be eligible for sale pursuant to Rule 144, and as a result, it is likely that the registered shares will be the only shares which are eligible to be resold in the market until such time as we cease to be a “shell company” and otherwise comply with Rule 144, if ever. Shares sold at a price below the market price at which the common stock is trading will cause that market price to decline. Moreover, the offer or sale of large numbers of shares at any price may cause the market price to fall. The amount of common stock owned by the selling shareholders in our SB-2 Registration Statement represents approximately 53.5% of the common stock currently outstanding.

~~ALTHOUGH~~ WE HAVE ~~BEEN~~NEVER ~~APPROVED~~ISSUED TOCASH ~~QUOTE~~DIVIDENDS ~~OUR~~IN ~~SECURITIES~~CONNECTION ONWITH ~~THE OVER-THE-COUNTER BULLETIN BOARD, THERE IS NOT CURRENTLY A PUBLIC MARKET FOR~~ OUR ~~SECURITIES.~~COMMON IFSTOCK ~~THERE~~AND ISHAVE ~~A MARKET~~NO ~~FOR~~PLANS ~~OUR~~TO ~~SECURITIES~~ISSUE DIVIDENDS IN THE FUTURE~~, OUR STOCK PRICE MAY BE VOLATILE AND ILLIQUID~~.

~~While~~We ~~our securities~~ have ~~been~~paid ~~approved~~no ~~for~~cash ~~quotation~~dividends on ~~the Over-The-Counter Bulletin Board (“OTCBB”) under the symbol “GBLS”, none of~~ our ~~shares of~~ common stock ~~have traded~~ to date, and ~~there~~it is ~~currently~~not noanticipated ~~market~~that ~~for~~any ~~our~~cash ~~common~~dividends ~~stock.~~will Ifbe ~~there is~~paid ato ~~market~~holders ~~for~~of our common stock in the foreseeable future,. While weour ~~anticipate~~dividend ~~that~~policy ~~such~~will ~~market would~~ be ~~illiquid~~based on the operating results and ~~would~~capital beneeds ~~subject~~of toour ~~wide~~business, ~~fluctuations~~it inis ~~response~~anticipated ~~to several~~that ~~factors,~~any ~~including,~~future ~~but~~earnings ~~not~~will ~~limited~~be retained to: finance our future expansion.

SHAREHOLDERS MAY BE DILUTED SIGNIFICANTLY THROUGH OUR EFFORTS TO OBTAIN FINANCING AND SATISFY OBLIGATIONS THROUGH THE ISSUANCE OF ADDITIONAL SHARES OF OUR COMMON STOCK.

We have no committed source of financing. Wherever possible, our Board of Directors will attempt to use non-cash consideration to satisfy obligations. In many instances, we believe that the non-cash consideration will consist of restricted shares of our common stock. Our Board of Directors has authority, without action or vote of the shareholders, to issue all or part of the authorized but unissued shares of common stock. In addition, if a trading market develops for our common stock, we may attempt to raise capital by selling shares of our common stock, possibly at a discount to market. These actions will result in dilution of the ownership interests of existing shareholders, may further dilute common stock book value, and that dilution may be material. Such issuances may also serve to enhance existing management’s ability to maintain control of the Company because the shares may be issued to parties or entities committed to supporting existing management.

STATE SECURITIES LAWS MAY LIMIT SECONDARY TRADING, WHICH MAY RESTRICT THE STATES IN WHICH AND CONDITIONS UNDER WHICH YOU CAN SELL SHARES.

Secondary trading in our common stock may not be possible in any state until the common stock is qualified for sale under the applicable securities laws of the state or there is confirmation that an exemption, such as listing in certain recognized securities manuals, is available for secondary trading in the state. If we fail to register or qualify, or to obtain or verify an exemption for the secondary trading of, the common stock in any particular state, the common stock cannot be offered or sold to, or purchased by, a resident of that state. In the event that a significant number of states refuse to permit secondary trading in our common stock, the liquidity for the common stock could be significantly impacted.

-8-

OUR COMMON STOCK CURRENTLY TRADES ON THE PINK SHEETS TRADING MARKET; HOWEVER, THERE IS NOT CURRENTLY A PUBLIC MARKET FOR OUR SECURITIES. IF THERE IS A MARKET FOR OUR SECURITIES IN THE FUTURE, OUR STOCK PRICE MAY BE VOLATILE AND ILLIQUID.

Our common stock was approved for quotation on the Over-The-Counter Bulletin Board (“OTCBB”) in or around March 2008, however, we were delisted from the OTCBB in March 2010 automatically as a result of FINRA rules and regulations, due to the failure of any market maker to quote our stock on the OTCBB for a period of four consecutive days, and relisted on the OTCBB in March 2011. Our common stock trades on the OTCBB under the symbol “GBLS”; however, none of our shares of common stock have traded to date, and there is currently no market for our common stock. If there is a market for our common stock in the future, we anticipate that such market would be illiquid and would be subject to wide fluctuations in response to several factors, including, but not limited to:

(1)	actual or anticipated variations in our results of operations;
(2)	our ability or inability to generate new revenues;
(3)	increased competition; and
(4)	conditions and trends in the market for medical testing products.

-7-

Furthermore, our stock price may be impacted by factors that are unrelated or disproportionate to our operating performance. These market fluctuations, as well as general economic, political and market conditions, such as recessions, interest rates or international currency fluctuations may adversely affect the market price and liquidity of our common stock.

IF WE ~~ARE~~INCUR ~~LATE~~SIGNIFICANT INCOSTS ~~FILING~~AS ~~OUR~~A ~~QUARTERLY~~RESULT OROF ~~ANNUAL~~OPERATING ~~REPORTS~~AS ~~WITH~~A ~~THE~~FULLY ~~SEC,~~REPORTING ~~WE MAY BE DE-LISTED FROM THE OVER-THE-COUNTER BULLETIN BOARD~~COMPANY.

~~Pursuant to~~We ~~Over-~~incur significant legal, accounting and other expenses in connection with our status as a fully reporting public company. The Sarbanes-~~Counter~~Oxley ~~Bulletin~~Act ~~Board~~of 2002 (the "~~OTCBB~~Sarbanes-Oxley Act") and new rules ~~relating~~subsequently toimplemented by the ~~timely~~SEC ~~filing of~~have ~~periodic~~imposed ~~reports~~various ~~with~~new ~~the~~requirements ~~SEC~~on public companies, ~~any~~including ~~OTCBB~~requiring ~~issuer~~changes ~~which~~in ~~fails~~corporate governance practices. As such, our management and other personnel will need to ~~file~~devote a ~~periodic~~ ~~report~~substantial ~~(Form~~amount ~~10-Q's~~of ortime 10to these and other compliance initiatives. Moreover, these rules and regulations increase our legal and financial compliance costs and make some activities more time-~~K's)~~consuming byand costly. In addition, the ~~due~~Sarbanes-Oxley ~~date~~Act requires, among other things, that we maintain effective internal controls for financial reporting and disclosure of ~~such~~controls ~~report~~and ~~(not withstanding~~procedures. ~~any~~In ~~extension~~particular, ~~granted~~we must perform system and process evaluation and testing of our internal controls over financial reporting to ~~the~~allow ~~issuer~~management byto report on the ~~filing~~effectiveness of aour ~~Form 12b-25)~~internal controls over financial reporting, ~~three~~as ~~(3)~~required ~~times~~by ~~during~~Section ~~any~~404 ~~twenty~~of the Sarbanes-~~four~~Oxley ~~(24)~~Act. ~~month~~Our ~~period~~testing ~~is automatically~~may ~~de-listed~~reveal ~~from~~deficiencies ~~the~~in ~~OTCBB.~~our ~~Such~~internal ~~removed~~controls ~~issuer~~over ~~would~~financial ~~not~~reporting ~~be re-eligible~~that are deemed to be ~~listed~~material onweaknesses. ~~the~~Our ~~OTCBB~~compliance ~~for~~with aSection ~~period~~404 ofwill ~~one-year~~require that we incur substantial accounting expenses and expend significant management efforts. We currently do not have an internal audit group, ~~during~~and ~~which time~~we ~~any~~may ~~subsequent~~need ~~late~~to ~~filing~~hire ~~would~~additional ~~reset~~accounting ~~the~~and ~~one-year~~financial ~~period~~staff ofwith ~~de-listing~~appropriate public company experience and technical accounting knowledge. If Moreover, if we are ~~late~~not able to comply with the requirements of Section 404 in ~~our~~a ~~filings~~timely ~~three~~manner, ~~times~~or if we identify deficiencies in ~~any~~our ~~twenty-four~~internal ~~(24)~~controls ~~month~~over ~~period and~~financial reporting that are ~~de-listed~~deemed ~~from~~to ~~the~~be ~~OTCBB~~material weaknesses, ~~our~~the ~~securities~~market ~~may~~price ~~become~~of ~~worthless~~our stock could decline, and we ~~may~~ could be ~~forced~~subject to ~~curtail~~sanctions or ~~abandon~~investigations ~~our~~by ~~business~~the ~~plan~~SEC or other regulatory authorities, which would require additional financial and management resources.

IN THE FUTURE, WE WILL INCUR SIGNIFICANT INCREASED COSTS AS A RESULT OF OPERATING AS A FULLY REPORTING COMPANY IN CONNECTION WITH SECTION 404 OF THE SARBANES OXLEY ACT, AND OUR MANAGEMENT WILL BE REQUIRED TO DEVOTE SUBSTANTIAL TIME TO NEW COMPLIANCE INITIATIVES.

Moving forward, we anticipate incurring significant legal, accounting and other expenses in connection with our status as a fully reporting public company. The Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act") and new rules subsequently implemented by the SEC have imposed various new requirements on public companies, including requiring changes in corporate governance practices. As such, our management and other personnel will need to devote a substantial amount of time to these new compliance initiatives. Moreover, these rules and regulations will increase our legal and financial compliance costs and will make some activities more time-consuming and costly. In addition, the Sarbanes-Oxley Act requires, among other things, that we maintain effective internal controls for financial reporting and disclosure of controls and procedures. In particular, commencing in calendar 2008 (one year after we began publicly reporting), we must perform system and process evaluation and testing of our internal controls over financial reporting to allow management to report on the effectiveness of our internal controls over financial reporting, and in fiscal 2009, to allow our independent registered public accounting firm to report on the effectiveness of our internal controls over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act. Our testing, or the subsequent testing by our independent registered public accounting firm, may reveal deficiencies in our internal controls over financial reporting that are deemed to be material weaknesses. Our compliance with Section 404 will require that we incur substantial accounting expense and expend significant management efforts. We currently do not have an internal audit group, and we will need to hire additional accounting and financial staff with appropriate public company experience and technical accounting knowledge. Moreover, if we are not able to comply with the requirements of Section 404 in a timely manner, or if we or our independent registered public accounting firm identifies deficiencies in our internal controls over financial reporting that are deemed to be material weaknesses, the market price of our stock could decline, and we could be subject to sanctions or investigations by the SEC or other regulatory authorities, which would require additional financial and management resources.

INVESTORS MAY FACE SIGNIFICANT RESTRICTIONS ON THE RESALE OF OUR COMMON STOCK DUE TO FEDERAL REGULATIONS OF PENNY STOCKS.

Once our common stock is ~~listed on the OTC Bulletin Board, it will be~~ subject to the requirements of Rule 15(g)9, promulgated under the Securities Exchange Act as long as the price of our common stock is below $5.00 per share. Under such rule, broker-dealers who recommend low-priced securities to persons other than established customers and accredited investors must satisfy special sales practice requirements, including a requirement that they make an individualized written suitability determination for the purchaser and receive the purchaser's consent prior to the transaction. The Securities Enforcement Remedies and Penny Stock Reform Act of 1990, also requires additional disclosure in connection with any trades involving a stock defined as a penny stock. Generally, the Commission defines a penny stock as any equity security not traded on an exchange or quoted on NASDAQ that has a market price of less than $5.00 per share. The required penny stock disclosures include the delivery, prior to any transaction, of a disclosure schedule explaining the penny stock market and the risks associated with it. Such requirements could severely limit the market liquidity of the securities and the ability of purchasers to sell their securities in the secondary market.

-8-

ITEM 2. DESCRIPTION OF PROPERTY

Our Chief Executive Officer, Tristin White provides us office space at his home. We do not pay any rental fees to Mr. White in connection with the use of the office space, and neither we ,nor Mr.White have any immediate plans to seek additional office space and Mr. White has no plans to charge us rental fees in connection with the use of the office space.

ITEM 3. LEGAL PROCEEDINGS

From time to time, we may become a party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business. We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None during the period of this report.

-9-

~~PART~~ITEM II1B. UNRESOLVED STAFF COMMENTS.

~~ITEM 5~~None. ~~MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS~~

~~Our common~~ITEM ~~stock has been approved for quotation on the Over-The-Counter Bulletin Board (“OTCBB”) under the symbol “GBLS~~2.~~” However,~~ ~~no shares of our common stock have traded as of the date of this report, and there is no “bid” or “ask” price for our common stock on the OTCBB as of the date of this report~~PROPERTIES. We have no shares of common stock subject to outstanding options or warrants to purchase, or securities convertible into, our common stock. We have no outstanding shares of preferred stock. As of March 19, 2010, there were 10,800,000 shares of common stock outstanding, held by approximately 30 shareholders of record.

Our Chief Executive Officer, Tristin White provides us office space at his home. ~~Sales~~We Ofdo ~~Unregistered Securities~~not pay any rental fees to Mr. White in connection with the use of the office space, and neither we, nor Mr. White have any immediate plans to seek additional or alternative office space and Mr. White has no plans to charge us rental fees in connection with the use of the office space.

OnITEM or around February 28, 2006, we sold to Shane Whittle, our former Chief Executive Officer and Director, two million five hundred thousand (2,500,000) shares of common stock and Jason Freeman, our Chief Technical Officer and Director, two million five hundred thousand (2,500,000) shares of restricted common stock in consideration for $5,000 or $03.~~001~~ ~~per~~LEGAL ~~share~~PROCEEDINGS. We claim an exemption from registration afforded by Regulation S of the Securities Act of 1933, as amended (“Regulation S”), for the above issuances, since the issuances were made to non-U.S. persons (as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to an offshore transaction, and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing.

From ~~May 2006~~time to ~~April 2007~~time, we ~~sold~~may anbecome ~~aggregate~~a ofparty ~~5,750,000 shares of common stock~~ to ~~twenty-eight~~ ~~(28)~~litigation ~~offshore shareholders for an aggregate of $57,500~~ or ~~$0.01~~other ~~per share. We~~legal ~~claim~~proceedings anthat ~~exemption~~we ~~from~~consider ~~registration~~to ~~afforded~~be bya ~~Regulation S,~~part ~~for~~of the ~~above~~ordinary ~~issuances,~~course ~~since~~of ~~the~~our ~~issuances~~business. ~~were~~We ~~made~~are tonot ~~non-U.S.~~currently ~~persons (as~~involved ~~defined~~in ~~under~~legal ~~Rule~~proceedings ~~902~~that ~~section~~could ~~(k)(2)(i)~~reasonably ofbe ~~Regulation~~expected ~~S), pursuant~~ to ~~offshore~~ ~~transactions,~~have ~~and~~a nomaterial ~~directed~~adverse ~~selling~~effect ~~efforts~~on ~~were~~our ~~made~~business, ~~in the United States by the issuer~~prospects, afinancial ~~distributor,~~condition ~~any~~or results of ~~their~~operations. ~~respective~~We ~~affiliates,~~may orbecome ~~any person~~involved ~~acting~~in onmaterial ~~behalf~~legal ofproceedings ~~any~~in of the ~~foregoing~~future.

OnITEM ~~May 8, 2008 the Company issued 50,000 shares at $0~~4.20 ~~per~~(REMOVED ~~share~~AND ~~for total proceeds of $10,000~~RESERVED.

-10-

~~ITEM~~PART ~~6. SELECTED FINANCIAL DATA~~II

~~Not applicable~~ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

~~ITEM~~Our 7common stock was approved for quotation on the Over-The-Counter Bulletin Board (“OTCBB”) in or around March 2008, however, we were delisted from the OTCBB in March 2010 automatically as a result of FINRA rules and regulations, due to the failure of any market maker to quote our stock on the OTCBB for a period of four consecutive days and relisted in March 2011. Our ~~MANAGEMENT'S DISCUSSION~~common ~~AND~~stock ~~ANALYSIS~~trades ORon ~~PLAN~~the OFOTCBB ~~OPERATION~~under the symbol “GBLS”; however, none of our shares of common stock have traded to date, and there is currently no market for our common stock. Additionally, there is no “bid” or “ask” price for our common stock on the OTCBB as of the date of this report. We have no shares of common stock subject to outstanding options or warrants to purchase, or securities convertible into, our common stock. We have no outstanding shares of preferred stock. As of March 8, 2011, there were 10,800,000 shares of common stock outstanding, held by approximately 12 shareholders of record, not including those shareholders who hold their shares in brokerage accounts.

~~PLAN~~ DESCRIPTION OF ~~OPERATIONS~~CAPITAL STOCK

We have authorized capital stock consisting of 25,000,000 shares of common stock, $0.001 par value per share.

COMMON STOCK

The holders of outstanding shares of common stock are entitled to receive dividends out of assets or funds legally available for the payment of dividends of such times and in such amounts as the Board of Directors from time to time may determine. Holders of common stock are entitled to one vote for each share held on all matters submitted to a vote of shareholders. There is no cumulative voting of the election of directors then standing for election. The common stock is not entitled to pre-emptive rights and is not subject to conversion or redemption. Upon liquidation, dissolution or winding up of our company, the assets legally available for distribution to stockholders are distributable ratably among the holders of the common stock after payment of liquidation preferences, if any, on any outstanding payment of other claims of creditors.

Options, Warrants and Convertible Securities

We have no options, warrants or other convertible securities outstanding.

Recent Sales Of Unregistered Securities

None.

ITEM 6. SELECTED FINANCIAL DATA.

Not required pursuant to Item 301 of Regulation S-K.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following discussion should be read in conjunction with our financial statements.

PLAN OF OPERATION FOR THE NEXT TWELVE MONTHS

We will not be able to continue our business operations for the next six (6) months with the current cash we have on hand. We anticipate the need for approximately $100,000 in the next twelve (12) months to continue our business operations and begin the marketing of our products throughout the internet. We have not made any sales of our products to date, and can make no assurances that material sales will develop in the future, if at all. Moving forward, we hope to build awareness of our website, www.privatekits.com (which is currently non-operational, as described in greater detail above) and in turn create demand for our products and sales, of which there can be no assurance.

~~COMPARISON OF OPERATING RESULTS~~-11-

~~For the~~Comparison ~~year~~of ~~ended~~Years Ended December 31, ~~2009,~~2010 ~~compared~~and ~~to the year ended December 31, 2008~~2009

We have not generated any sales revenue to date.

We had general and administrative expenses of $1320,~~976~~470 for the year ended December 31, ~~2009~~ 2010, compared to $4813,~~450~~976 for the year ended December 31, ~~2008~~2009, aan ~~decrease~~increase in expenses of $346,~~474~~494 from the prior period. The main ~~reasons~~reason for the ~~decrease~~ increase in expenses ~~were~~was due to ~~decreased~~increased ~~general~~professional ~~and administrative expenses~~fees.

We had a net loss of $1320,~~976~~470 for the year ended December 31, ~~2009~~2010, compared to $4813,~~450~~ 976 for the year ended December 31, ~~2008~~2009. The main ~~reasons~~reason for the ~~decrease~~increase in net loss ~~were~~was due to ~~decreased~~increased general and administrative expenses.

From inception the December 31, ~~2009~~2010 we had general and administrative costs of $~~101~~121,~~389~~859 and incurred a net loss of $~~101~~121,~~389~~859.

LIQUIDITY AND CAPITAL RESOURCES

We had total assets, consisting solely of ~~current~~prepaid ~~assets~~expenses of ~~cash of~~ $~~592~~456 as of December 31, ~~2009~~2010 and $~~760~~592 of current assets, consisting solely of cash as of December 31, ~~2008~~2009.

We had total liabilities consisting solely of current liabilities of $2949,~~481~~815 as of December 31, ~~2009~~2010 and $1529,~~673~~481 as of December 31, ~~2008~~2009. Current liabilities as of December 31, ~~2009~~ 2010 included $~~9,373~~474 of accounts payable and ~~accrued liabilities and~~ $2049,~~108~~341 of advances from shareholder in connection with amounts advanced to us by ~~Shane Whittle,~~ our former Chief Executive Officer.

We had a negative working capital deficit of $2849,~~889~~359 and a total accumulated deficit of $~~101~~121,~~389~~859 as of December 31, ~~2009~~2010.

~~-11-~~We had net cash flows used in operating activities of $29,825 for the year ended December 31, 2010, which consisted of $20,470 of net loss, $456 of increase in prepaid expenses and $8,899 of decrease in accounts payable.

We had ~~net~~ cash flows ~~used~~ ~~in operating activities~~ of $529,~~653~~233 provided by financing activities for the year ended December 31, ~~2009~~2010, ~~which~~consisting ~~consisted~~solely of ~~$13,976~~shareholder ofadvances ~~net~~from ~~loss~~our ~~and~~former ~~$8,323 change~~Chief ~~in accounts~~Executive ~~payable~~Officer.

We had cash flows $5,485 provided by financing activities for the year ended December 31, 2009.

We have no current commitment from our officers and Directors or any of our shareholders to supplement our operations or provide us with financing in the future. If we are unable to raise additional capital from conventional sources and/or additional sales of stock in the future, we may be forced to curtail or cease our operations. Even if we are able to continue our operations, the failure to obtain financing could have a substantial adverse effect on our business and financial results.

In the future, we may be required to seek additional capital by selling debt or equity securities, selling assets, or otherwise be required to bring cash flows in balance when we approach a condition of cash insufficiency. The sale of additional equity or debt securities, if accomplished, may result in dilution to our then shareholders. We provide no assurance that financing will be available in amounts or on terms acceptable to us, or at all.

Off Balance Sheet Arrangements:

None.

-12-

~~ITEM~~Critical 8.Accounting ~~FINANCIAL STATEMENTS~~Policies:

~~Report~~ Development ofStage ~~Independent Registered~~Company. ~~Public~~The ~~Accounting~~Company ~~Firm~~is considered to be in the development stage and has had no commercial revenues to date.

ToBasis of Presentation. The Company’s financial statements have been prepared on a going concern basis in accordance with accounting principles generally accepted in the ~~Board~~ United States of ~~Directors~~America (“GAAP”). This contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business.

~~Global Industries~~Reclassifications. ~~Corp~~Certain prior year amounts have been reclassified to conform with the current year presentation for comparative purposes.

~~(A Development~~Use ~~Stage~~of ~~Company)~~Estimates in Financial Statement Preparation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as certain financial statement disclosures. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from these estimates.

~~Los Angeles~~Income Taxes. Income tax expense is based on reported earnings before income taxes. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes, ~~California~~and are measured by applying enacted tax rates in effect in years in which the differences are expected to reverse.

WeEarnings ~~have audited~~or ~~the~~Loss ~~accompanying~~Per ~~balance~~Common ~~sheets~~Share. Basic ofearnings ~~Global~~per ~~Industries~~common ~~Corp.~~share (equals net earnings or loss divided by the ~~“Company”)~~ asweighted ofaverage ~~December~~shares ~~31,~~outstanding ~~2009~~during ~~and~~the ~~2008,~~year. Diluted ~~and~~earnings per share include the ~~related~~impact ~~statements~~on ~~of operations,~~dilution ~~stockholders'~~from ~~equity~~all ~~(deficit)~~contingently issuable shares, including options, warrants and ~~cash~~convertible ~~flows~~securities. The ~~for~~common ~~each~~stock ofequivalents ~~the~~from ~~years then~~contingent ~~ended~~shares ~~and~~are ~~for~~determined by the ~~period~~treasury ~~from~~stock ~~April~~method. The ~~18,~~Company ~~2002~~incurred ~~(inception)~~a ~~through~~net loss for the year ended December 31, ~~2009.~~2010, ~~These~~and ~~financial~~therefore, ~~statements~~basic ~~are~~and ~~the~~diluted ~~responsibility~~earnings ofper ~~the~~share ~~Company's management.~~for ~~Our~~those ~~responsibility~~periods isare tothe ~~express~~same anas ~~opinion~~all onpotential ~~these~~common ~~financial statements~~equivalent ~~based~~shares onwould ~~our~~be ~~audits~~anti-dilutive.

~~We conducted~~Recently ~~our~~Issued ~~audits in accordance with the standards of the Public Company~~ Accounting ~~Oversight Board (United States)~~Pronouncements. ~~Those~~ ~~standards~~There ~~require that~~were wevarious ~~plan~~accounting standards and ~~perform~~interpretations ~~the~~issued ~~audit~~during to2010, ~~obtain~~none ~~reasonable~~of ~~assurance~~which ~~about whether the financial statements~~ are ~~free~~expected ~~of material misstatement. The Company is not required~~ to have, ~~nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as~~ a ~~basis~~material ~~for designing~~impact ~~audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion~~ on the ~~effectiveness of the~~ Company’s ~~internal~~ ~~control over~~ financial ~~reporting. Accordingly~~position, weoperations ~~express~~or ~~no such~~cash ~~opinion. An~~flows ~~audit~~upon also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentationadoption. ~~We believe that our audits provide a reasonable basis for our opinion.~~

InITEM ~~our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Global Industries Corp~~7A. asQUANTITATIVE ~~of December~~AND ~~31,~~QUALITATIVE ~~2009~~DISCLOSURE ~~and~~ABOUT ~~2008,~~MARKET and the results of its operations and its cash flows for each of the years then ended and for the period from April 18, 2002 (inception) through December 31, 2009 in conformity with accounting principles generally accepted in the United States of AmericaRISK.

~~As discussed~~Not in Note 2 to the financial statements, the Company's absence of significant revenues, recurring losses from operations, and its need for additional financing in order to fund its projected loss in 2010 raise substantial doubt about its ability to continue as a going concernapplicable. ~~The 2009 financial statements do not include any adjustments that might result from the outcome of this uncertainty.~~

~~LBB~~ITEM ~~& Associates Ltd~~8., ~~LLP~~FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

~~Houston, Texas~~The Financial Statements and supplementary data required by this Item are presented beginning on page F-1 of this annual report on Form 10-K.

April 8, 2010

F-1

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS

	December 31, 2009			December 31, 2008
ASSETS
Current assets
Cash	$	592		$	760
Total current assets		592			760
Total assets	$	592		$	760
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable	$	9,373		$	1,050
Shareholder advance		20,108			14,623
Total current liabilities		29,481			15,673
Total liabilities		29,481			15,673
STOCKHOLDERS' DEFICIT
Common stock, $.001 par value, 25,000,000 shares authorized, 10,800,000 shares issued and outstanding		10,800			10,800
Additional paid-in-capital		61,700			61,700
Deficit accumulated during the development stage		(101,389	)		(87,413	)
Total stockholders' deficit		(28,889	)		(14,913	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	592		$	760

See accompanying notes to financial statements

F-2

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS

Years ended December 31, 2009 and 2008

and Period from April 18, 2002 (Inception) through December 31, 2009

	Year Ended			Year Ended			Inception through
	December 31, 2009			December 31, 2008			December 31, 2009
Expenses:
General and administrative	$	13,976		$	48,450		$	101,389
Net loss	$	(13,976	)	$	(48,450	)	$	(101,389	)
Net loss per share:
Basic and diluted	$	(0.00	)	$	(0.00	)
Weighted average shares outstanding:
Basic and diluted		10,800,000			10,782,377

See accompanying notes to financial statements

F-3

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

Period from April 18, 2002 (Inception) through December 31, 2009

	Common stock
	Shares		Amount		Additional paid in capital		Subscription receivable			Deficit accumulated during the development stage			Total
Balance, April 18, 2002		-	$	-	$	-	$	-		$	-		$	-
Net loss for the year ended D December 31, 2005		-		-		-		-			(128	)		(128	)
Balance, December 31, 2005		-		-		-		-			(128	)		(128	)
Issuance of common shares to founders		5,000,000		5,000		-		(4,000	)		-			1,000
Issuance of common stock for cash		5,200,000		5,200		46,800		-			-			52,000
Net loss		-		-		-		-			(2,476	)		(2,476	)
Balance, December 31, 2006		10,200,000		10,200		46,800		(4,000	)		(2,604	)		50,396
Subscriptions received		-		-		-		4,000			-			4,000
Issuance of common stock for cash		550,000		550		4,950		-			-			5,500
Net loss		-		-		-		-			(36,359	)		(36,359	)
Balance, December 31, 2007		10,750,000		10,750		51,750		-			(38,963	)		23,537
Issuance of common stock for cash		50,000		50		9,950		-			-			10,000
Net loss		-		-		-		-			(48,450	)		(48,450	)
Balance, December 31, 2008		10,800,000		10,800	$	61,700		-			(87,413	)		(14,913	)
Net loss		-		-		-		-			(13,976	)		(13,976	)
Balance, December 31, 2009		10,800,000	$	10,800	$	61,700	$	-		$	(101,389	)	$	(28,889	)

See accompanying accounting policies and notes to financial statement

F-4

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS

Years Ended December 31, 2009 and 2008

and Period from April 18, 2002 (Inception) through December 31, 2009

	Year Ended			Year Ended			Inception through
	December 31, 2009			December 31, 2008			December 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(13,976	)	$	(48,450	)	$	(101,389	)
Adjustments to reconcile net loss to cash used by operating activities:
Accounts payable		8,323			(1,200	)		9,373
CASH FLOWS USED IN OPERATING ACTIVITIES		(5,653	)		(49,650	)		(92,016	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shareholder advance		5,485			14,033			21,108
Proceeds from sale of common shares		-			10,000			71,500
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		5,485			24,033			92,608
NET INCREASE (DECREASE) IN CASH		(168	)		(25,617	)		592
Cash, beginning of period		760			26,377			-
Cash, end of period	$	592		$	760		$	592
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	$	-		$	-		$	-
Income taxes paid	$	-		$	-		$	-
Non-cash transactions:
Conversion of shareholder advance to common shares	$	-		$	-		$	1,000

See accompanying notes to financial statements

F-5

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF ACCOUNTING POLICIES

Nature of Business

Global Industries Corp. (the “Company”) was incorporated in Nevada in April 18, 2002 and extra provincially registered in British Columbia Canada under Privatekits.com Inc.

Privatekits.com Inc. is a web based firm that offers confidential, FDA 510 (k) approved home testing products for detection of Hepatitis C, pregnancy, and HIV. Privatekits.com offers Home Access brand HIV-1 test kits, which is the only home test approved by the FDA 510 (k) for home distribution in the United States.

Cash and Cash Equivalents

Cash and cash equivalents include cash and all highly liquid financial instruments with original purchased maturities of three months or less.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

The Company plans to recognize revenue when persuasive evidence of an arrangement exists, goods have been delivered, the sales price is fixed or determinable and collection is probable.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Basic Loss per Share

Basic loss per share has been calculated based on the weighted average number of shares of common stock outstanding during the period.

Recent Accounting Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its results of operations, financial position or cash flow.

Foreign Currency Translation

The financial statements are presented in United States dollars. In accordance with Accounting Standards Certification 830, “Foreign Currency Translation”, foreign denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non monetary assets and liabilities are translated at the exchange rates prevailing at the transaction date. Revenue and expenses are translated at average rates of exchange during the year. Gains or losses resulting from foreign currency transactions are included in results of operations.

F-6

Subsequent Events

Subsequent events have been evaluated through the date of issuance.

NOTE 2 - GOING CONCERN

The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred net losses of $13,976 and $48,450 for the years ended December 31, 2009 and 2008 respectively, and has an accumulated deficit of $101,389 at December 31, 2009. This condition raises substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties.　

There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support the Company's working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available the Company may be required to curtail its operations.

NOTE 3 - SHAREHOLDER ADVANCES

During the year ending December 31, 2005 a shareholder of the company advanced the company $1,099. $1,000 of this advance was applied to the payment of his purchase of common stock.

In the year ended December 31, 2007, the same shareholder advanced the Company another $491. At December 31, 2007 the Company owed this shareholder $590 for expenses he paid on behalf of the Company.

During the year ended December 31, 2008, the same shareholder advanced the Company another $14,033 for payments made on behalf of the Company.

During the year ended December 31, 2009, the same shareholder advanced the Company $5,485 for payments made on behalf of the Company.

As of December 31, 2009 the Company owed this shareholder $20,108.

The advances from the shareholder are non-interest bearing, unsecured and repayable upon demand.

NOTE 4 - COMMON STOCK

In February, 2006, the Company sold 5,000,000 shares of common stocks to its two directors with 2,500,000 each at the par value of $0.001 for total proceeds of $5,000. One of the directors applied $1,000 of his advance to the Company to the purchase of the common stock upon the issuance of the common stock. The Company received the remaining payment of $4,000 in May, 2007.

F-7

Between February and November 2006, the Company raised $52,000 by selling subscriptions for 5,200,000 shares of its common stock at $0.01 per share.

In May, 2007 the Company issued another 550,000 shares of its common stock at $0.01 per share for total proceeds of $5,500.

On May 8, 2008 the Company issued 50,000 shares at $0.20 per share for total proceeds of $10,000.

As of December 31, 2009 and 2008 the Company had 25,000,000 common shares authorized, and 10,800,000 shares issued and outstanding.

The Company received its Notice of Effectiveness for its Form SB-2 Registration Statement in January, 2008 and its trading symbol on the Over-The-Counter Bulletin Board in March 2008.

NOTE 5 - INCOME TAXES

The Company follows Statement of Financial, Accounting Standards Certification 740 (ASC 740) for Income Taxes." Deferred income taxes reflect the net effect of (a) temporary difference between carrying amounts of assets and liabilities for financial purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carryforwards. No net provision for refundable Federal income tax has been made in the accompanying statement of loss because no recoverable taxes were paid previously. Similarly, no deferred tax asset attributable to the net operating loss carryforward has been recognized, as it is not deemed likely to be realized.

The provision for refundable Federal income tax consists of the following:

	December 31,			December 31,
	2009			2008
Refundable Federal income tax attributable to:
Current operations	$	4,800		$	16,400
Less, change in valuation allowance		(4,800	)		(16,400	)
Net refundable amount	$	-		$	-

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

	December 31, 2009
Deferred tax asset attributable to:
Net operating loss carryover	$	34,500
Less, valuation allowance		(34,500	)
Net deferred tax asset	$	-

At December 31, 2009, the Company had an unused net operating loss carryover of approximating $101,400 that is available to offset future taxable income; it expires beginning in 2025.

F-8

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file with the SEC under the Securities Exchange Act of 1934, as amended is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including our principal executive and financial officers, as appropriate, to allow for timely decisions regarding required disclosure. As required by SEC Rule 15d-15(b), we carried out an evaluation, under the supervision and with the participation of our management, including our principal executive and principal financial ~~officers~~officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in the Securities Exchange Act of 1934, as amended (“Exchange Act”) Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this report. Based on the foregoing, our principal executive and principal financial ~~officers~~officer concluded that our disclosure controls and procedures are effective to ensure the information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed and reported within the time periods specified in the SEC’s rules and forms.

-13-

Management’s Annual Report on Internal Control over Financial Reporting

~~Internal~~ The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting, ~~refers~~as tosuch ~~the~~term ~~process~~is ~~designed~~defined ~~by,~~in orRule 13a-15(f) under the ~~supervision~~ ~~of,~~Exchange ~~our~~Act. ~~Chief~~The ~~Executive~~Company's ~~Officer~~internal ~~and~~control ~~Chief~~over ~~Financial~~financial ~~Officer,~~reporting ~~and effected~~is bya ~~our~~process ~~board~~designed under the supervision of ~~directors,~~the ~~management~~Company's Chief Executive Officer and ~~other~~Principal ~~personnel,~~Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company's financial statements for external purposes in accordance with accounting principles generally accepted ~~accounting~~in ~~principles,~~the United States of America (US GAAP) and includes those policies and procedures that:

~~(1) Pertain~~- pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

~~(2) Provide~~- provide reasonable assurance that the transactions are recorded as necessary to permit the preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with ~~authorization~~authorizations of our management and directors; ~~and~~

~~(3) Provide~~- provide reasonable assurance regarding prevention or timely detection of unauthorized ~~acquisitions~~acquisition, use, or disposition of our assets that could have a material effect on the financial statements.;

pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;

provide reasonable assurance that the transactions are recorded as necessary to permit the preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and

provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the financial statements.

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.

Management has used the framework set forth in the report entitled Internal Control-Integrated Framework published by the Committee of Sponsoring Organizations of the Treadway Commission, known as COSO, to evaluate the effectiveness of our internal control over financial reporting. Based on this assessment, management has concluded that our internal control over financial reporting was effective as of December 31, ~~2009~~2010.

-14-

This Annual Report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting. Our internal control over financial reporting was not subject to attestation by our independent registered public accounting firm pursuant to temporary rules of the SEC that permit us to provide only management’s report in this Annual Report.

There has been no change in our internal controls over financial reporting during our most recent fiscal year that has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.

ITEM 9B. OTHER INFORMATION.

None.

-1315-

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, ~~PROMOTERS~~ AND ~~CONTROL~~CORPORATE ~~PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT~~GOVERNANCE.

The following table sets forth the name, age and position of ~~each~~our ofsole ~~our~~officer ~~directors~~ and ~~executive officers~~Director. ~~There are no other persons who can be classified as a promoter or controlling person of us.~~ Our officers and directors are as follows:

Name	Age	Position
Tristin White	3435	Chief Executive Officer, President, Principal Financial Officer, Secretary and Director
		Principal Financial Officer,
		Secretary and Director
Joey Granath	32	Former Chief Executive Officer, President, Principal Financial Officer Secretary and Director
Shane Whittle	33	Insider

Tristin White

Chief Executive Officer, President, Principal Financial Officer, Secretary and Director

~~Joey Granath~~Mr. White was appointed as the Chief Executive Officer, President, Principal Financial Officer, Secretary and Director of the Company in February 2009. Mr. White served as President of TW Investment Holdings, a private consulting company focusing on eBusiness strategy and development (“TW”) from January 2004 to December 2009. During his tenure with TW, Mr. White consulted to several companies within the Internet space to provide services such as investment consulting, search engine optimization and business finance website design. Mr. White received a degree in Business Economics in 2003 from Trondeim Business School, Sør-Trøndelag University College, in Trondheim, Norway.

~~Former Chief Executive Officer, President, Principal Financial Officer, Secretary and Director~~Qualifications:

Mr. ~~Granath~~ White has ~~served~~significant asknowledge ~~the sole officer and Director~~ of the Company’s ~~since September~~history, ~~2008. Prior to this~~strategies, ~~Mr.~~technologies ~~Granath worked as a Director~~ and ~~Producer~~ ~~for KushTV.com~~culture, ~~based~~having inled ~~Los~~the ~~Angles,~~Company ~~California,~~as ~~from~~Chief ~~January~~Executive ~~2005~~Officer ~~to September 2008. KushTv.com is an online media provider for Music, Special Events~~ and ~~Online~~a ~~HighDef~~director TVsince ~~Webisodes. From~~ February ~~1999 to May 2005~~1, Mr2009. ~~Granath~~His ~~served~~leadership asof ~~President~~diverse ofbusiness Gunits ~~Productions~~and ~~Inc.,~~functions abefore ~~California based~~becoming ~~company~~Chief ~~that~~Executive ~~focused~~Officer ongives ~~special~~Mr. ~~event~~White ~~productions~~profound ininsight ~~West~~into ~~Hollywood~~the ~~and Beverly~~product ~~Hills~~development, ~~California. Mr.~~marketing, ~~Granath~~finance, ~~spends~~and ~~approximately~~operation 10aspects ~~hours per~~of ~~week~~the on Company ~~matters~~.

~~Shane Whittle~~Our Director(s) are elected annually and hold office until our next annual meeting of the shareholders and until their successor(s) are elected and qualified. Officers will hold their positions at the pleasure of the Board of Directors, ~~Shareholder~~absent any employment agreement. Our officers and Directors may receive compensation as determined by us from time to time by vote of the Board of Directors. Such compensation might be in the form of stock options. Directors may be reimbursed by the Company for expenses incurred in attending meetings of the Board of Directors. Vacancies in the Board are filled by majority vote of the remaining directors.

~~Shane Whittle served~~Involvement ~~as our Chief Executive Officer, President, Principal Financial Officer, Secretary and Director since our incorporation~~ in ~~April~~Certain ~~2002 until~~Legal September 1, 2008. Mr. Whittle served as President, Director and Secretary of Einscribe Inc., a company in the business of online document editing services for students and businesses from January 2000 until June 2005. From January 2003 to October 2004, Mr. Whittle performed investor relations services for and served as a Marketing Manager and Operations Leader for Universco BroadBand Network. From June 1994 to September 2004, Mr. Whittle served as an event planning consultant with Velvet Groove Entertainment. From February 1997 to September 1999, Mr. Whittle served as the Manager of the Cactus Club Restaurant chain.Proceedings

Our sole officer and Director, Mr. ~~Whittle~~ ~~received~~White, ahas ~~Business~~not ~~Administration~~been ~~degree~~involved ~~from~~in ~~Capilano~~any ~~College~~of inthe ~~North Vancouver,~~following ~~British~~events ~~Columbia~~during inthe ~~2001.~~past ten years:

~~Our Directors are elected annually and hold office until our next annual meeting of the shareholders and until their successors are elected and qualified~~1. ~~Officers will hold their positions at the pleasure of the Board of Directors, absent~~ any ~~employment~~ ~~agreement.~~bankruptcy ~~Our~~petition ~~officers~~filed ~~and Directors may receive compensation as determined~~ by usor ~~from~~against ~~time~~any tobusiness ~~time by vote~~ of ~~the~~which ~~Board~~such ofperson ~~Directors.~~was ~~Such compensation~~a ~~might~~general bepartner inor ~~the~~executive ~~form~~officer ofeither ~~stock~~at ~~options. Directors may be reimbursed by~~ the ~~Company~~time ~~for expenses incurred in attending meetings~~ of the ~~Board~~bankruptcy ~~of Directors.~~or ~~Vacancies~~within intwo ~~the~~years ~~Board~~prior ~~are~~to ~~filled~~that ~~by majority vote of the remaining directors.~~time;

~~-14-~~2. any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses’);

3.	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

4.	being found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.

-16-

Committees of the Board

Our Company currently does not have nominating, compensation or audit committees or committees performing similar functions nor does our Company have a written nominating, compensation or audit committee charter. Our sole Director believes that it is not necessary to have such committees, at this time, because the functions of such committees can be adequately performed by the sole Director.

Our Company does not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors. The Board of Directors believes that, given the stage of our development, a specific nominating policy would be premature and of little assistance until our business operations develop to a more advanced level. Our Company does not currently have any specific or minimum criteria for the election of nominees to the Board of Directors and we do not have any specific process or procedure for evaluating such nominees. The Board of Directors, will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.

A shareholder who wishes to communicate with our Board of Directors may do so by directing a written request addressed to our President and Director, at the address appearing on the first page of this filing.

Code of Ethics

We have not adopted a formal Code of Ethics. The Board of Directors, evaluated the business of the Company and the number of employees and determined that since the business is operated by only one person our President, Chief Executive Officer, Secretary, Treasurer and Director, Tristin White, general rules of fiduciary duty and federal and state criminal, business conduct and securities laws are adequate ethical guidelines. In the event our operations, employees and/or Directors expand in the future, we may take actions to adopt a formal Code of Ethics.

CORPORATE GOVERNANCE

The Company promotes accountability for adherence to honest and ethical conduct; endeavors to provide full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with the Securities and Exchange Commission (the “SEC”) and in other public communications made by the Company; and strives to be compliant with applicable governmental laws, rules and regulations. The Company has not formally adopted a written code of business conduct and ethics that governs the Company’s employees, officers and Directors as the Company is not required to do so.

In lieu of an Audit Committee, the Company’s Board of Directors is responsible for reviewing and making recommendations concerning the selection of outside auditors, reviewing the scope, results and effectiveness of the annual audit of the Company's financial statements and other services provided by the Company’s independent public accountants. The Board of Directors reviews the Company's internal accounting controls, practices and policies.

ITEM 11. EXECUTIVE COMPENSATION.

Summary Compensation Table

The Summary Compensation Table below reflects those amounts received as compensation by the executive officers of the Company during the fiscal years ended December 31, ~~2009~~2010, ~~2008,~~ and ~~2007~~2009. The Company presently has no pension, health, annuity, insurance, or similar benefit plans.

-17-

EXECUTIVE COMPENSATION

Name & Principal Position	Year	Salary ($)	All Other~~(1)~~ ~~Annual~~ Compensation	~~Restricted~~Total ~~Stock~~Compensation ~~Awards~~1	~~Total Compensation (1)~~
Tristin White CEO, President, Principal Accounting Officer, Secretary and Director	2009	$0	$0	$0	$0
Tristin White2 CEO, President, Principal Financial Officer, Secretary and Director	2010 2009	$0 $0	$0 $0	$0 $0
Joey Granath	2009	$0	$0	$0	$0
Joey Granath2	2009	$0	$0	$0
Former CEO, President,	~~2008~~	$0	$0	$0	$0
Principal Accounting Officer, Secretary and Director	2007	$0	$0	$0	$0
Principal Financial Officer, Secretary and Director

* Does not include perquisites and other personal benefits in amounts less than 10% of the total annual salary and other compensation. Other than the individual listed above, we had no executive employees or Directors during the years listed above.

(1) No Executive Officer received any bonus, ~~restricted~~ stock awards, options awards, non-equity incentive plan compensation, or nonqualified deferred compensation earnings during the last ~~three~~two fiscal years, and no salaries are being accrued.

~~Neither~~ (2) Mr. ~~White~~Granath ~~nor~~was ~~Mr.~~appointed ~~Granath~~as ~~has~~the ~~ever drawn~~Chief ~~any~~Executive ~~salary~~Officer, ~~from~~President, Principal Financial Officer, Secretary and Director of the Company in September 2008, ~~nor do~~and ~~they~~Mr. ~~have~~White ~~any~~was ~~employment~~appointed oras ~~consulting~~the ~~agreements~~Chief ~~with~~Executive Officer, President, Principal Financial Officer, Secretary and Director of the Company, following Mr. Granath’s resignation in February 2009.

~~-15-~~Stock Option Grants

We have not granted any stock options since our incorporation.

Employment Agreements

We do not have an employment or consulting agreement with Mr. White our CEO, President, Principal Financial Officer, Secretary and Director.

COMPENSATION DISCUSSION AND ANALYSIS

Director Compensation

No member of our Board of Directors has ever received any compensation; however, the Board of Directors reserves the right in the future to award the members of the Board of Directors cash or stock based consideration for their services to the Company, which awards, if granted shall be in the sole determination of the Board of Directors.

-18-

Executive Compensation Philosophy

Our Board of Directors, consisting solely of Tristin White, determines the compensation given to our executive officers in its sole determination. As our executive officer currently draws no compensation from us, we do not currently have any executive compensation program in place. Although we have not to date, our Board of Directors also reserves the right to pay our executives a salary, and/or issue them shares of common stock in consideration for services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer’s performance. This package may also include long-term stock based compensation to certain executives which is intended to align the performance of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination believes such grants would be in the best interests of the Company.

Incentive Bonus

The Board of Directors may grant incentive bonuses to our executive officers in its sole discretion, if the Board of Directors believes such bonuses are in the Company’s best interest, after analyzing our current business objectives and growth, if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

As of the date of this filing, no executive officers or Director holds any outstanding options to purchase shares of common stock in the Company, nor were there any outstanding options to purchase shares in the common stock of the Company as of the filing of this report.

Long-term, Stock Based Compensation

In order to attract, retain and motivate executive talent necessary to support the Company’s long-term business strategy we may award certain executives with long-term, stock-based compensation in the future, in the sole discretion of our Board of Directors, which we do not currently have any immediate plans to award.

Criteria for Compensation Levels

The Company seeks to attract and retain qualified executives and employees ~~able~~ to positively contribute to the success of the Company for the benefit of its various stakeholders, the most important of which is its shareholders, but also including its officers, employees, and the communities in which the Company operates.

The Board of Directors (in establishing compensation levels for the Company’s Chief Executive Officer, if any) and the Company (in establishing compensation levels for other executives, if any) may consider many factors, including, but not limited to, the individual’s abilities and performance that results in: the advancement of corporate goals of the Company, execution of the Company’s business strategies, contributions to positive financial results, and contributions to the development of the management team and other employees. In determining compensation levels, the Board of Directors may also consider the experience level of each particular individual and/or the compensation level of executives in similarly situated companies in our industry.

-16-

Compensation levels for executive officers are generally reviewed annually, but may be reviewed more often as deemed appropriate.

Compensation Philosophy and Strategy

In addition to the “Criteria for Compensation Levels” set forth above, the Company has a “Compensation Philosophy” for all employees of the Company (set forth below).

-19-

Compensation Philosophy

The Company’s compensation philosophy is as follows:

•

The Company believes that compensation is an integral component of its overall business and human resource strategies. The Company’s compensation plans will strive to promote the hiring and retention of personnel necessary to execute the Company’s business strategies and achieve its business objectives.

•

The Company’s compensation plans will be strategy-focused, competitive, and recognize and reward individual and group contributions and results. The Company’s compensation plans will strive to promote an alignment of the interests of employees with the interests of the shareholders by having a portion of compensation based on financial results and actions that will generate future shareholder value.

•

In order to reward financial performance over time, the Company’s compensation programs generally will consist of base compensation, and may also consist of short-term variable incentives and long-term variable incentives, as appropriate.

•

The Company’s compensation plans will be administered consistently and fairly to promote equal opportunities for the Company’s employees.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table provides the names and addresses of each person known to own directly or beneficially more than a 5% of the outstanding common stock (as determined in accordance with Rule 13d-3 under the Exchange Act) as of March 198, ~~2009~~ 2011, and by the officers and directors, individually and as a group. Except as otherwise indicated, all shares are owned directly.

Shareholder Name	Shares Held	Percentage (1)
Shane Whittle Stockholder	2,500,000	23.3%
Tristin White CEO, President, Treasurer, Secretary and Director 5405 Wilshire Blvd., Suite 265 Los Angeles, CA 90036	- 0 -	0%
Tristin White President, Treasurer, Secretary and Director (ADDRESS)	2,500,000	23.3%
Shane Whittle 1917 West 4th Ave, Vancouver British Columbia Canada	2,500,000	23.2%
Jack and Helen Whittle 2840 Mount Seymour Parkway, North Vancouver, British Columbia V7H 1E9	1,190,000	11.1%
Joey Granath 6220 W. 3rd Street Suite 420 Los Angeles, California 90036	2,500,000	23.2%
David and Natasha Lietzmann 121 W. 21st Street, North Vancouver, British Columbia, Canada V7M 1Z1	700,000	6.5%
Jack and Helen Whittle 2840 Mount Seymour Parkway, North Vancouver, British Columbia V7H 1E9	1,190,000	11.0%
Total of all officers and Directors a Group	2,500,000	23.3%
Total of all officers and Directors a Group (1 Person)	- 0 -	0%

(1) Based on 10,800,000 shares outstanding as of ~~April~~March 128, ~~2010~~2011.

The number of shares of common stock owned are those "beneficially owned" as determined in accordance with Rule 13d-~~17-~~3 of the Exchange Act of 1934, as amended, including any shares of common stock as to which a person has sole or shared voting or investment power and any shares of common stock which the person has the right to acquire within sixty (60) days through the exercise of any option, warrant or right.

~~ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS~~-20-

OnITEM ~~or around~~13. ~~February~~CERTAIN ~~28,~~RELATIONSHIPS ~~2006,~~AND weRELATED ~~sold Shane Whittle~~TRANSACTIONS, ~~our~~AND ~~former~~DIRECTOR Chief Executive Officer and Director two million five hundred thousand (2,500,000) shares of common stock and Jason Freeman, our Chief Technical Officer and Director two million five hundred thousand (2,500,000) shares of restricted common stock in consideration for an aggregate of $5,000 or $0INDEPENDENCE.~~001 per share.~~

~~During the~~Certain ~~year~~Relationships ~~ending~~and ~~December~~Related ~~31, 2005 a shareholder of the company advanced the company $1,099. $1,000 of this advance was applied to the payment of his purchase of common stock.~~Transactions

In ~~the year~~February ~~ended~~2009, ~~December~~Joseph 31Granath resigned as Chief Executive Officer, ~~2007~~President, ~~the~~Principal ~~same~~Financial ~~shareholder~~Officer, ~~advanced~~Secretary and Director of the Company ~~another $491.~~and AtTristin ~~December~~White ~~31,~~was ~~2007~~appointed as the ~~Company~~Chief ~~owed~~Executive ~~this~~Officer, ~~shareholder~~President, ~~$590~~Principal ~~for~~Financial ~~expenses he~~Officer, ~~paid~~Secretary onand ~~behalf~~Director of the Company.

During the year ended December 31, ~~2008~~2010, ~~the~~a ~~same~~ shareholder of the Company advanced the Company ~~another~~ $1429,~~033~~233 for payments made on behalf of the Company.

~~During the~~As ~~year~~of ~~ended~~ December 31, ~~2009,~~2010 the ~~same~~Company ~~shareholder~~owed ~~advanced~~this ~~the~~shareholder ~~Company~~ $549,~~485 for payments made on behalf of the Company~~341.

As of December 31, 2009 the Company owed this shareholder $20,108.

The advances from the shareholder are non-interest bearing, unsecured and repayable upon demand.

Independence of Directors

We are not required to have independent members of our Board of Directors, and do not anticipate having independent Directors until such time as we are required to do so.

Review, Approval and Ratification of Related Party Transactions

Given our small size and limited financial resources, we have not adopted formal policies and procedures for the review, approval or ratification of transactions, such as those described above, with our executive officers, Directors and significant stockholders. However, all of the transactions described above were approved and ratified by our sole Director, Mr. White. In connection with the approval of the transactions described above, Mr. White, our sole Director, took into account several factors, including his fiduciary duty to the Company; the relationships of the related parties described above to the Company; the material facts underlying each transaction; the anticipated benefits to the Company and related costs associated with such benefits; whether comparable products or services were available; and the terms the Company could receive from an unrelated third party.

We intend to establish formal policies and procedures in the future, once we have sufficient resources and have appointed additional Directors, so that such transactions will be subject to the review, approval or ratification of our Board of Directors, or an appropriate committee thereof. On a moving forward basis, our sole Director will continue to approve any related party transaction based on the criteria set forth above.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

AUDIT FEES

During the fiscal year ended December 31, 2010, the Company incurred approximately $10,500 in fees to its principal independent accountant for professional services rendered in connection with the preparation and audit of the Company's financial statements for fiscal year ended December 31, 2010 and for the review of the Company's unaudited quarterly financial statements as filed in the Company’s reports on Form 10-Q for the year ended December 31, 2010.During the fiscal year ended December 31, 2009, the Company incurred approximately $10,800 in fees to its principal independent accountant for professional services rendered in connection with preparation and audit of the Company's financial statements for fiscal year ended December 31, 2009 and for the review of the Company's unaudited quarterly financial statements as filed in the Company’s reports on Form 10-Q for the year ended December 31, 2009.

~~During the~~The ~~fiscal~~Company ~~year~~did ~~ended~~not ~~December~~incur ~~31,~~any ~~2008,~~audit ~~the~~related ~~Company incurred approximately $10~~fees,~~835~~ intax fees, toor ~~its~~other ~~principal~~fees ~~independent accountants~~ for ~~professional services rendered in connection with preparation and audit of~~ the ~~Company's financial statements for~~ fiscal ~~year~~years ended December 31, ~~2008~~2010 and ~~for the review of the Company's unaudited quarterly financial statements for the year ended December 31, 2008~~2009.

~~AUDIT RELATED FEES~~-21-

~~None.~~PART IV

~~TAX FEES~~ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

~~None~~(a) 1. Financial Statements

~~ALL OTHER~~INDEX ~~FEES~~TO FINANCIAL STATEMENTS

During the fiscal year ended December 31, 2009, the Company incurred approximately $0 in fees to its principal independent auditors for professional services rendered in connection with review and consent to various SEC filings. The Company incurred $0 in fees during the fiscal year ended December 31, 2008.

Audited Financial Statements for years ended December 31, 2010 and 2009

Report of Independent Registered Public Accounting Firm	F-1
Balance Sheets as of December 31, 2010 and 2009	F-2
Statements of Operations for the Years Ended December 31, 2010 and 2009 and the Period From Inception to December 31, 2010	F-3
Statements of Changes in Stockholders’ Equity (Deficit) For the Years Ended December 31, 2010 and 2009 and the Period From Inception to December 31, 2010	F-4
Statements of Cash Flows for the Years ended December 31, 2010 and 2009 and the Period from Inception to December 31, 2010	F-5
Notes to Financial Statements	F-6

-18-

ITEM 15. EXHIBITS

Exhibit Number

Description of Exhibit

3.1(1)

Articles of Incorporation

3.2(1)

Bylaws

31*	Certificate of the Chief Executive Officer and ~~Chief~~Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32*	Certificate of the Chief Executive Officer and ~~Chief~~Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

* Filed herein._______________

* Filed herewith

(1) Filed as Exhibits to our Form SB-2 Registration Statement, filed with the Commission on November 8, 2007, and incorporated by reference herein.

B) REPORTS ON FORM 8-K

Form 8-K dated August 19, 2008 filed with the Commission and incorporated by reference herein.

Form 8-K dated September 8, 2008 filed with the Commission and incorporated by reference herein.

-19-

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GLOBAL INDUSTRIES CORP.
DATED: April 13, 2010	By: /s/ Tristin White
DATED: March 9, 2011	By: /s/ Tristin White
	Tristin White
	Chief Executive Officer (Principal Executive Officer)
	and Chief Financial Officer (Principal Accounting Officer)
	and Principal Financial Officer (Principal Accounting Officer)

-2022-

Report of Independent Registered Public Accounting Firm

To the Board of Directors of

Global Industries Corp.

(A Development Stage Company)

Los Angeles, CA

We have audited the accompanying balance sheets of Global Industries Corp. (the “Company”) as of December 31, 2010 and 2009, and the related statements of operations, stockholders' equity (deficit) and cash flows for each of the years then ended and for the period from April 18, 2002 (inception) through December 31, 2010. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, 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. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Global Industries Corp. as of December 31, 2010 and 2009, and the results of its operations and its cash flows for each of the years then ended and for the period from April 18, 2002 (inception) through December 31, 2010 in conformity with accounting principles generally accepted in the United States of America.

As discussed in Note 2 to the financial statements, the Company's absence of significant revenues, recurring losses from operations, and its need for additional financing in order to fund its projected loss in 2011 raise substantial doubt about its ability to continue as a going concern. The 2010 financial statements do not include any adjustments that might result from the outcome of this uncertainty.

LBB & Associates Ltd., LLP

Houston, Texas

March 4, 2011

F-1

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS

	December 31,			December 31,
	2010			2009
Assets

Current Assets:
Cash	$	-		$	592
Prepaid expenses		456			-
Total Current Assets		456			592
Total Assets	$	456		$	592

Liabilities and Stockholders' Deficit

Current Liabilities:
Accounts payable	$	474		$	9,373
Shareholder advance		49,341			20,108
Total Current Liabilities		49,815			29,481

Total Liabilities		49,815			29,481

Stockholders' Deficit:
Common stock, $.001 par value, 25,000,000 shares authorized;
10,800,000 shares issued and outstanding		10,800			10,800
Additional paid-in-capital		61,700			61,700
Deficit accumulated during the development stage		(121,859	)		(101,389	)
Total Stockholders' Deficit		(49,359	)		(28,889	)

Total Liabilities and Stockholders' Deficit	$	456		$	592

See accompanying notes to financial statements

F-2

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS

Years Ended December 31, 2010 and 2009

And Period from April 18, 2002 (Inception) Through December 31, 2010

							Inception
							through
							December 31,
	2010			2009			2010
Expenses:
General and administrative	$	20,470		$	13,976		$	(121,859	)
Net Loss	$	(20,470	)	$	(13,976	)	$	(121,859	)


Net loss per share:
Basic and diluted loss	$	(0.00	)	$	(0.00	)

Weighted average common
shares outstanding:
Basic and diluted		10,800,000			10,800,000

See accompanying notes to financial statements

F-3

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

	Common Stock				Paid-In		Subscription			Accumulated
	Shares		Amount		Capital		Receivable			Deficit			Totals
Balance, April 18, 2002	-		$	-	$	-	$	-		$	-		$	-

Net loss		-		-		-		-			(128	)		(128	)
Balance, December 31, 2005				-		-		-			(128	)		(128	)

Issuance of common stock to founders		5,000,000		5,000		-		(4,000	)		-			1,000
Issuance of common stock for cash		5,200,000		5,200		46,800		-			-			52,000
Net loss		-		-		-		-			(2,476	)		(2,476	)
Balance, December 31, 2006		10,200,000		10,200		46,800		(4,000	)		(2,604	)		50,396

Subscriptions received		-		-		-		4,000			-			4,000
Issuance of common stock for cash		550,000		550		4,950								5,500
Net loss		-		-		-					(36,359	)		(36,359	)
Balance, December 31, 2007		10,750,000		10,750		51,750		-			(38,963	)		23,537

Issuance of common stock for cash		50,000		50		9,950		-			-			10,000
Net loss		-		-		-		-			(48,450	)		(48,450	)
Balance, December 31, 2008		10,800,000		10,800		61,700		-			(87,413	)		(14,913

Net loss		-		-		-		-			(13,976	)		(13,976	)
Balance, December 31, 2009		10,800,000		10,800		61,700		-			(101,389	)		(28,889	)

Net loss		-		-		-		-			(20,470	)		(20,470	)
Balance, December 31, 2010		10,800,000	$	10,800		61,700		-		$	(121,859	)	$	(49,359	)

See accompanying notes to financial statements

F-4

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS

Years Ended December 31, 2010 and 2009

And Period from April 18, 2002 (Inception) Through December 31, 2010

							Inception
							through
							December 31,
	2010			2009			2010
Cash Flows From Operating Activities:
Net loss	$	(20,470	)	$	(13,976	)	$	(121,859	)
Adjustments to reconcile net loss to net
cash used in operating activities:
Changes in:
Prepaid expenses		(456	)		-			(456	)
Accounts payable		(8,899	)		8,323			474
Net cash used in operating activities		(29,825	)		(5,653	)		(121,841	)

Cash Flows From Financing Activities:
Proceeds from shareholder advances		29,233			5,485			50,341
Proceeds from sale of common shares		-			-			71,500
Net cash provided by financing activities		29,233			5,485			121,841

Net increase (decrease) in cash		(592	)		(168	)		-
Cash at beginning of period		592			760			-
Cash at end of period	$	-		$	592		$	-

Supplemental Cash Flow Information:
Cash paid for interest	$	-		$	-		$	-
Cash paid for income taxes	$	-		$	-		$	-

Non-Cash Transactions:
Conversion of shareholder advance to common shares	$	-		$	-		$	1,000

See accompanying notes to financial statements

F-5

GLOBAL INDUSTRIES CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

NOTE 1—BUSINESS OVERVIEW AND SUMMARY OF ACCOUNTING POLICIES

Global Industries Corp. (the “Company” and “Global”), was incorporated on April 18, 2002 in Nevada. We operate as a web based company which plans to resell confidential Food and Drug Administration (“FDA”) approved home testing products including pregnancy tests, ovulation tests, Human Immunodeficiency Virus (“HIV”), Hepatitis C tests and breathalyzer alcohol tests. We plan to resell such products to individual customers through our website. We have not made any sales to date. We do not currently maintain an inventory of the products we plan to resell and do not manufacture or test any of the products. All of the testing, approval and manufacturing of the products that will be sold will be performed by third parties. To ensure the protection of privacy, testing products sold over the internet through our website will be mailed directly to customers in plain unmarked packaging. We operate the websites www.privatekits.com, www.privatekits.net, and www.RevealHiv.com, which include information that we do not desire to be incorporated by reference into this annual report and which are currently experiencing technical difficulties, and are not operational as of the date of this report, which technical difficulties the Company hopes to resolve subsequent to the date of this filing.

Development Stage Company. Global is considered to be in the development stage and has had no commercial revenues to date.

Basis of Presentation. Global’s financial statements have been prepared on a going concern basis in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business.

Reclassifications. Certain prior year amounts have been reclassified to conform with the current year presentation for comparative purposes.

Use of Estimates in Financial Statement Preparation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as certain financial statement disclosures. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from these estimates.

Income Taxes. Income tax expense is based on reported earnings before income taxes. Deferred income taxes reflect the impact of temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes, and are measured by applying enacted tax rates in effect in years in which the differences are expected to reverse.

Earnings or Loss Per Common Share. Basic earnings per common share equals net earnings or loss divided by the weighted average shares outstanding during the year. Diluted earnings per share include the impact on dilution from all contingently issuable shares, including options, warrants and convertible securities. The common stock equivalents from contingent shares are determined by the treasury stock method. Global incurred a net loss for the year ended December 31, 2010, and therefore, basic and diluted earnings per share for those periods are the same as all potential common equivalent shares would be anti-dilutive.

Recently Issued Accounting Pronouncements. There were various accounting standards and interpretations issued during 2010, none of which are expected to have a material impact on Global’ s financial position, operations or cash flows upon adoption.

Subsequent Events. In accordance with applicable accounting standards for the disclosure of events that occur after the balance sheet date but before the financial statements are issued, we have evaluated all events or transactions that occurred after December 31, 2010.

F-6

NOTE 2 – GOING CONCERN

The Company has incurred net losses of $20,470 and $13,976 for the years ended December 31, 2010 and 2009, respectively and has an accumulated deficit of $121,859 at December 31, 2010. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management is trying to grow the existing business, but may need to raise additional capital through sales of common stock or convertible instruments as well as obtain financing from third parties. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available the Company may be required to curtail its operations.

NOTE 3 – SHAREHOLDER ADVANCES

During the year ended December 31, 2010, a shareholder advanced the Company $29,233 for payments made on behalf of the Company. As of December 31, 2010, the Company owed this shareholder $49,341. The advances from the shareholder are non-interest bearing, unsecured and repayable upon demand.

NOTE 4 - COMMON STOCK

In February, 2006, the Company sold 5,000,000 shares of common stock to its two directors with 2,500,000 shares each at the par value of $0.001 for total proceeds of $5,000. One of the directors applied $1,000 of his advance to the Company to the purchase of the common stock upon the issuance of the common stock. The Company received the remaining payment of $4,000 in May, 2007.

Between February and November 2006, the Company raised $52,000 by selling subscriptions for 5,200,000 shares of its common stock at $0.01 per share.

In May, 2007, the Company issued another 550,000 shares of its common stock at $0.01 per share for total proceeds of $5,500.

On May 8, 2008, the Company issued 50,000 shares at $0.20 per share for total proceeds of $10,000.

The Company received its Notice of Effectiveness for its Form SB-2 Registration Statement in January, 2008 and its trading symbol on the Over-The-Counter Bulletin Board in March 2008. In March 2010, the Company was automatically delisted from the Over The Counter Bulletin Board, and was relisted in March 2011.

As of December 31, 2010 and 2009, the Company had 25,000,000 common shares authorized, and 10,800,000 shares issued and outstanding, respectively.

NOTE 5 - INCOME TAXES

F-7

The provision for refundable Federal income tax consists of the following:

	December 31,			December 31.
	2010			2009
Refundable Federal income tax
attributable to current operations	$	6,960		$	4,800
Less change in valuation allowance		(6,960	)		(4,800	)
Net refundable amount	$	-		$	-

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

	December 31,			December 31.
	2010			2009
Deffered tax assets attributable to:
Net operating loss carryover	$	41,460		$	34,500
Less, valuation allowance		(41,460	)		(34,500	)
Net deferred tax asset	$	-		$	-

At December 31, 2010, the Company had an unused net operating loss carryover of approximately $122,000 that is available to offset future taxable income which expires beginning in 2025.

F-8

Filing Compare · Global Industries Corp.