UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~July~~January 31, ~~2024~~2025

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

For the transition period from_________to_________

Commission File No. 000-56557

GLOBAL LEADERS CORP.

(Exact name of registrant as specified in its charter)

Nevada

65-0386288

(State or other jurisdiction

of incorporation or organization)

(I.R.S. Employer

Identification No.)

Units 2613-18, 26/F., Shui On Centre

6-8 Harbour Road, Wanchai

Hong Kong

(Address of principal executive offices, zip code)

Tel: (852) 8102 3633

(Registrant’s telephone number, including area code)

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

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

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

Indicate by check mark whether the registrant has submitted electronically 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 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 ☒ Smaller reporting company ☒ Emerging growth company ☒

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

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

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by an of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12,13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☒.☐ No ☐

APPLICABLE ONLY TO CORPORATE ISSUERS

AsThere ofis ~~September~~no 5,public ~~2024,~~trading ~~there~~market ~~were~~for ~~154,394,750~~the shares of Common Stock, $0of Global Leaders Corp.~~0001~~ ~~par~~As a result, the aggregate market value ~~per~~of ~~share,~~the ~~outstanding~~common units held by non-affiliates of Global Leaders Corp. cannot be determined.

As of March 10, 2025, there were 154,394,750 shares of Common Stock, $0.0001 par value per share, outstanding.

GLOBAL LEADERS CORP.

QUARTERLY

REPORT ON FORM 10-Q FOR THE PERIOD

ENDED ~~JULY~~JANUARY 31, ~~2024~~2025

INDEX

			Page
Part I. Financial Information			4
	Item 1.	Financial Statements	4
		Condensed Consolidated Balance Sheets as of July 31, 2024 (Unaudited) and October 31, 2023	4
		Condensed Consolidated Balance Sheets as of January 31, 2025 (Unaudited) and October 31, 2024	4
		Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - Three and nine months ended July 31, 2024 and 2023	5
		Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - Three months ended January 31, 2025 and 2024	5
		Condensed Consolidated Statements of Stockholders’ Equity (Deficit) (Unaudited) - Three and nine months ended July 31, 2024 and 2023	6
		Condensed Consolidated Statements of Stockholders’ Deficit (Unaudited) - Three months ended January 31, 2025 and 2024	6
		Condensed Consolidated Statements of Cash Flows (Unaudited) - Nine months ended July 31, 2024 and 2023	7
		Condensed Consolidated Statements of Cash Flows (Unaudited) - Three months ended January 31, 2025 and 2024	7
		Notes to Condensed Consolidated Financial Statements (Unaudited) - Three and nine months ended July 31, 2024 and 2023	8
		Notes to Condensed Consolidated Financial Statements (Unaudited) - Three months ended January 31, 2025 and 2024	8
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1312
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	1514
	Item 4.	Controls and Procedures	1514
Part II. Other Information			1615
	Item 1.	Legal Proceedings	1615
	Item 1A.	Risk Factors	1615
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	1615
	Item 3.	Defaults Upon Senior Securities	1615
	Item 4.	Mine Safety Disclosures	1615
	Item 5.	Other Information	1615
	Item 6.	Exhibits	1716
Signatures			1817

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q of Global Leaders Corp., a Nevada corporation (the “Company”), contains “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and ~~expenditures~~expenditure as we pursue our business plan, and the adequacy of our available cash resources. 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. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results.

Our management has included projections and estimates in this Form 10-Q, which are based primarily on management’s experience in the industry, assessments of our results of operations, discussions, and negotiations with third parties and a review of information filed by our competitors with the SEC or otherwise publicly available. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward - looking statements to to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

GLOBAL LEADERS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF ~~JULY~~JANUARY 31, ~~2024~~2025 AND OCTOBER 31, ~~2023~~2024

(Expressed in U.S. Dollars)

	July 31,2024			October 31,2023
	January 31, 2025			October 31, 2024
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	4,379		$	1,874
Cash	$	2,280		$	570
Prepaid expenses		41,~~800~~980			2,~~871~~970
Prepaid expense to related party		1,920			1,915
Total currents assets		4,260			3,540
Prepaid expense		1,920			1,915
TOTAL ASSETS	$	4,260		$	3,540
Total currents assets		11,099			6,660
TOTAL ASSETS	$	11,099		$	6,660
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accrued liabilities	$	-		$	10,000
Due to officer/principal shareholder	$	127,944		$	94,556
Due to officer/principal shareholder		90,695			25,563
Total current liabilities		127,944			94,556
Total current liabilities		90,695			35,563
Commitments and Contingencies		-			-
STOCKHOLDERS’ DEFICIT
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding at July 31, 2024 and October 31, 2023
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding on January 31, 2025 and October 31, 2024		-			-
Common Stock, $0.0001 par value, 600,000,000 shares authorized; 154,394,750 shares outstanding at July 31, 2024 and October 31, 2023		15,439			15,439
Common Stock, $0.0001 par value, 600,000,000 shares authorized; 154,394,750 shares issued and outstanding on January 31, 2025 and October 31, 2024		15,439			15,439
Additional paid in capital		1,424,320			1,424,320
Accumulated other comprehensive income		3,332			3,332
Accumulated deficit		(1,~~522~~566,~~687~~775	)		(1,~~471~~534,~~994~~107	)
Total stockholders’ deficit		(79123,~~596~~684	)		(2891,~~903~~016	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	114,~~099~~260		$	63,~~660~~540

See accompanying notes to the condensed consolidated financial statements.

GLOBAL LEADERS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JULY~~JANUARY 31, ~~2024~~2025 AND ~~2023~~2024

(Expressed in U.S. Dollars)

(Unaudited)

	2024			2023			2024			2023
	2025			2024
	Three months ended July 31,						Nine months ended July 31,
	Three months ended January 31,
	2024			2023			2024			2023
	2025			2024
Revenues:
Revenues	$	2,567		$	7,678
Service revenues	$	26,340		$	3,828		$	39,130		$	3,828
Operating expenses:
Total revenue		26,340			3,828			39,130			3,828
General and administrative expenses-related party		5,790			8,755
Operating costs and expenses:
General and administrative expenses		29,445			21,143
Cost of service revenues		16,706			-			16,706			-
General and administrative		29,445			21,143
General and administrative-related parties		9,553			110,957			24,062			364,857
Total operating expenses		35,235			29,898
General and administrative-other		20,784			25,714			49,055			102,519
Net loss and comprehensive loss	$	(32,668	)	$	(22,220	)
Total operating costs and expenses		47,043			136,671			89,823			467,376
Net loss per common share - basic and diluted	$	(0.00	)	$	(0.00	)
Loss from operations		(20,703	)		(132,843	)		(50,693	)		(463,548	)
Weighted average common shares outstanding - basic and diluted		154,394,750			154,394,750
Other income (expense)		-			-			-			-
Net loss		(20,703	)		(132,843	)		(50,693	)		(463,548	)
Other comprehensive income:
-Foreign currency translation income		-			-			-			-
Comprehensive loss	$	(20,703	)	$	(132,843	)	$	(50,693	)	$	(463,548	)
Basic and diluted net loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average number of shares outstanding		154,394,750			154,394,750			154,394,750			154,355,393

See accompanying notes to the condensed consolidated financial statements.

GLOBAL LEADERS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ ~~EQUITY (~~DEFICIT)

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JULY~~JANUARY 31, ~~2024~~2025 AND ~~2023~~2024

(Expressed in U.S. Dollars)

Three months ended ~~July~~January 31, ~~2024~~2025 (Unaudited)

	Number		Amount		Capital		Income		Deficit			Deficit
	Common Stock				Additional Paid-in		Accumulated Other Comprehensive		Accumulated			Total Stockholders’
	Number		Amount		Capital		Income		Deficit			Deficit
Balance, April 30, 2024 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,501,984	)	$	(58,893	)
Balance, October 31, 2024		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,534,107	)	$	(91,016	)
Net loss		-		-		-		-		(2032,~~703~~668	)		(2032,~~703~~668	)
Balance, July 31, 2024 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,522,687	)	$	(79,596	)
Balance, January 31, 2025 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,566,775	)	$	(123,684	)

~~Nine~~Three months ended ~~July~~January 31, 2024 (Unaudited)

	Common Stock				Additional Paid-in		Accumulated Other Comprehensive		Accumulated			Total Stockholders’
	Number		Amount		Capital		Income		Deficit			Deficit
Balance, October 31, 2023		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,471,994	)	$	(28,903	)
Net loss		-		-		-		-		(50,693	)		(50,693	)
Balance		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,471,994	)	$	(28,903	)
Balance, July 31, 2024 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,522,687	)	$	(79,596	)
Net loss		-		-		-		-		(22,220	)		(22,220	)
Balance, January 31, 2024 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,494,214	)	$	(51,123	)
Balance		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,494,214	)	$	(51,123	)

Three months ended July 31, 2023 (Unaudited)

	Common Stock				Additional Paid-in		Accumulated Other Comprehensive		Accumulated			Total Stockholders’
	Number		Amount		Capital		Income		Deficit			Equity
Balance, April 30, 2023 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,302,255	)	$	140,836
Net loss		-		-		-		-		(132,843	)		(132,843	)
Balance, July 31, 2023 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,435,098	)	$	7,993

Nine months ended July 31, 2023 (Unaudited)

	Common Stock				Additional Paid-in		Accumulated Other Comprehensive		Accumulated			Total Stockholders’ Equity
	Number		Amount		Capital		Income		Deficit			(Deficit)
Balance, October 31, 2022		153,726,000	$	15,372	$	889,387	$	3,332	$	(971,550	)	$	(63,459	)
Common Stock issued for cash in private placements		668,750		67		534,933		-		-			535,000
Net loss		-		-		-		-		(463,548	)		(463,548	)
Balance, July 31, 2023 (Unaudited)		154,394,750	$	15,439	$	1,424,320	$	3,332	$	(1,435,098	)	$	7,993

See accompanying notes to the condensed consolidated financial statements.

GLOBAL LEADERS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE ~~NINE~~THREE MONTHS ENDED ~~JULY~~JANUARY 31, ~~2024~~2025 AND ~~2023~~2024

(Expressed in U.S. Dollars)

(Unaudited)

	2024			2023
	2025			2024
	Nine months ended July 31,
	Three months ended January 31,
	2024			2023
	2025			2024
Cash Flows From Operating Activities
Net loss	$	(5032,~~693~~668	)	$	(~~463~~22,~~548~~220	)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in operating assets and liabilities:
Accounts receivable		-			(3,828	)
Prepaid expenses		990			(1,736	)
Prepaid expenses		(1,929	)		(958	)
Prepaid expense to related party		-			(6	)
Prepaid expense to related party		(5	)		(1,914	)
Prepaid expense		-			(6	)
Accrued liabilities		~~(10,000~~-	)		(10,000	)
Net cash used in operating activities		(6231,~~627~~678	)		(~~480~~33,~~248~~962	)
Cash Flows From Financing Activities
Advances from (repayment to) officer/principal shareholder		65,132			(49,968	)
Advances from officer/principal shareholder		33,388			33,275
Proceeds from shares issued for cash in private placements		-			535,000
Net cash provided by financing activities		33,388			33,275
Net cash provided by financing activities		65,132			485,032
Net increase (decrease) in cash		1,710			(687	)
Effect of exchange rate changes in cash and cash equivalents		-			-
Cash at the beginning of period		570			1,874
Net change in cash and cash equivalents		2,505			4,784
Cash at the end of period	$	2,280		$	1,187
Cash and cash equivalents, beginning of period		1,874			797
Cash and cash equivalents, ending of period	$	4,379		$	5,581
Supplementary Cash Flow Information
Cash paid for:
Interest	$	-		$	-
Income taxes	$	-		$	-

See accompanying notes to the condensed consolidated financial statements.

GLOBAL LEADERS CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JULY~~JANUARY 31, ~~2024~~2025 AND ~~2023~~2024

(Expressed in U.S. Dollars)

(Unaudited)

NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of business

Global Leaders Corporation, a Nevada corporation (the “Company”), is principally engaged in provision of consultancy services to management executives of small and medium enterprises (SMEs) and startup companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The Company has initiated a comprehensive range of environmental, social, and governance (ESG) and sustainability programs and solutions tailored in response to the growing importance of sustainability. The Company was incorporated in the State of Nevada on July 20, 2020.

~~Mr.~~The ~~Yip~~Company ~~Hoi~~is ~~Hing~~principally ~~Peter~~engaged ~~(“Mr.~~in ~~Peter~~providing ~~Yip”),~~consultancy ~~founder~~and oftraining ~~the~~services ~~Company,~~to ~~currently~~management ~~holds~~executives ~~the positions~~ of ~~Chief~~small ~~Executive~~and ~~Officer,~~medium ~~Chief~~enterprises ~~Financial~~(SMEs) ~~Officer, President, Secretary, Treasurer~~ and ~~Director~~startup ofcompanies in the ~~Company,~~Asia-Pacific ~~respectively~~Region.

Inflation and other global risks

As a result of the COVID-19 pandemic and actions taken to slow its spread, the ongoing military conflict between Russia and Ukraine, the armed conflict in Sudan, and other geopolitical and macroeconomic factors beyond our control, the global credit and financial markets have experienced extreme volatility, including diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, increases in unemployment rates and uncertainty about economic stability.

Higher inflation, the actions by the Federal Reserve Bank to address inflation, most notably continuing increases in interest rates, and rising food and energy prices in combination with higher labor costs create uncertainty about the future economic environment. The implications of higher government deficits and debt, tighter monetary policy, and higher long-term interest rates may drive a higher cost of capital for the business and an increase in the Company’s operating expenses. It is possible that deterioration in credit and financial markets and confidence in economic conditions will occur. If equity and credit markets deteriorate, it may affect our ability to raise equity capital, borrow on our existing facilities, access our existing cash, or make any additional necessary debt or equity financing more difficult to obtain, more costly and/or more dilutive.

Going concern

The accompanying ~~consolidated~~ financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. AsIn ~~reflected~~accordance inwith ~~the~~Accounting ~~accompanying~~Standards ~~condensed~~Codification ~~consolidated~~(“ASC”) ~~financial statements~~205-40, ~~for~~Going ~~the nine months ended July 31~~Concern, ~~2024,~~ the Company’s ~~incurred~~management ahas ~~net~~evaluated ~~loss~~whether ofthere ~~$50,693~~are conditions and ~~used~~events, ~~cash~~considered in ~~operating~~the ~~activities of $62~~aggregate,~~627~~ ~~and~~that ~~at July 31, 2024, the Company had a stockholders’ deficit of $79,596. These factors, among others,~~ raise substantial doubt about the Company’s ability to continue as a going concern within one year ofafter the date the ~~that~~accompanying ~~these~~ financial statements ~~are~~ were issued. InFor ~~addition~~the three months ended January 31, 2025, the Company’s ~~independent~~recorded ~~registered~~a ~~public~~net ~~accounting~~loss ~~firm~~of $32,668 and inused ~~its~~cash ~~report~~in onoperations ~~the~~of ~~Company’s October~~ $31,678. These ~~2023~~factors, ~~financial~~among ~~statements~~others, ~~raised~~raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that these financial statements are issued. ~~These~~The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. ~~These financial~~In ~~statements~~addition, doour ~~not~~independent ~~include~~registered ~~any~~public ~~adjustments~~accounting firm ~~that~~has ~~might~~included bean ~~necessary~~explanatory ~~should~~paragraph ~~the~~in ~~Company~~their bereport ~~unable~~with respect to ~~continue~~this uncertainty that accompanies our audited consolidated financial statements as aof ~~going~~and ~~concern~~for the year ended October 31, 2024.

As of ~~July~~January 31, ~~2024~~2025, the Company’s cash balance was $42,~~379~~280. Management estimates that the current funds on hand will be sufficient to continue operations through the next three months. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to implement its business plans and continue receiving financial support from its officers and shareholders. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company can obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

Basis of presentation ~~and consolidation~~

The accompanying ~~unaudited condensed~~ consolidated financial statements as of ~~and for~~ the ~~three~~Company ~~and nine months ended July 31, 2024 and 2023,~~ have been prepared in accordance with accounting principles generally accepted in the United States of America (“~~U.S.~~US GAAP”) ~~and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting~~. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The consolidated balance sheet as of October 31, 2023, included herein was derived from the audited consolidated financial statements as of that date, included in the Company’s Annual Report on Form 10-K filed with the SEC. These financial statements should be read in conjunction with that report.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods have been included. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for the full fiscal year ending October 31, 2024.

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Global Leaders Corporation, a company incorporated in Anguilla (“GLC Anguilla”). Intercompany accounts and transactions have been eliminated in consolidation.

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, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting year. Actual results could differ from those estimates. Significant estimates include estimates for the accrual of potential liabilities.

Revenue recognition

The Company recognizes revenue following the five-step model prescribed by Accounting Standards Codification (ASC) 606, “Revenue from Contracts”, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

The Company’s revenue consists of revenue from ~~providing~~delivering ~~educational~~consultancy ~~services~~and ~~(“service~~training ~~revenue”)~~services. Revenue is recognized in the period in which the services are delivered, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against service revenue. ~~Additionally, to date, the Company has not incurred incremental costs in obtaining a client contract.~~

~~Cash~~The ~~and~~Company’s ~~cash~~cost ~~equivalents~~of revenue consists of rental of instructional facilities directly attributable to training courses rendered.

Cash consists of funds on hand and held in bank accounts. Cash equivalents include demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities of three months or less, including money market funds. The Company had no cash equivalents as at July 31, 2024 and October 31, 2023.

SCHEDULE OF CASH AND CASH EQUIVALENTS

	As of July 31, 2024		As of October 31, 2023
	As of January 31, 2025		As of October 31, 2024
	(Unaudited)
Cash
Denominated in United States Dollars	$	~~980~~59	$	~~707~~195
Denominated in Hong Kong Dollars		32,~~399~~221		~~1,167~~375
Cash and cash equivalents	$	4,379	$	1,874
Cash	$	2,280	$	570

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of ~~July~~January 31, ~~2024~~2025, substantially all the Company’s cash was held by a major financial institution located in Hong Kong, which management believes is of high credit quality. At January 31, 2025, none of the Company’s cash accounts are insured by the U.S. Federal Deposit Insurance Corporation (the “FDIC”).

Fair value measurements

The Company follows the guidance of ASC 820-10, “Fair Value Measurements and Disclosures”, with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the ~~inputs~~input used in measuring fair value as follows:

Level 1 : Observable inputs such as quoted prices in active markets;

Level 2 : Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions

The Company believes the carrying amount reported in the balance sheet for cash ~~and cash equivalents~~, prepaid expenses and ~~other current assets, accrued liabilities,~~ due to an officer/principal shareholder, ~~and due from or due to a related party,~~ approximate their fair values because of the short-term nature of these financial instruments.

~~Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the period:~~9

Foreign currency translation

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company’s operating subsidiary maintains its books and records in its functional currency, Hong Kong Dollars (“HK$”).

In general, for consolidation purposes, assets and liabilities of the Company’s subsidiaries whose functional currency is not US$, are translated into US$ using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the year. The gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive income or loss within stockholders’ equity or deficit.

Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods:

	As of and for the nine months ended July 31,
	As of and for the three months ended January 31,
	2024		2023
	2025		2024
Period-end HK$ : US$1 exchange rate		7.8179		7.8082
Period-average HK$ : US$1 exchange rate		7.8278		7.8381

10Net income or loss per share

~~Net~~The Company calculates net income or loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net income or loss per share is computed by dividing the net income or loss by the weighted-average number of common shares outstanding during the period. Diluted net income or loss per share is computed like basic net income or loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of January 31, 2025, the Company has no potentially dilutive securities, such as options or warrants, outstanding.

~~The Company~~Segment calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed like basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of July 31, 2024, the Company has no potentially dilutive securities, such as options or warrants, outstanding.Information

The Company’s Chief Executive Officer and President (“CEO”) is our chief operating decision maker (“CODM”) and evaluates performance and makes operating decisions about allocating resources based on financial data presented on a consolidated basis. Because our CODM evaluates financial performance on a consolidated basis, the Company has determined that it operates as a single reportable segment composed of the consolidated financial results of Global Leaders Corp. (see Note 4).

Concentrations

~~Three~~For ~~and~~the ~~Nine~~three ~~Months~~months ~~Ended~~ended ~~July~~January 31, 2025, one customer accounted for 100% of the Company’s revenue. For the three months ended January 31, 2024, two customers accounted for 100% (50% each) of the Company’s revenue.

For the three months ended ~~July~~January 31, 2025, and 2024, notwo ~~customer~~vendors accounted for 1092% of(75% ~~the~~and ~~Company’s~~17%) ~~revenue,~~and ~~while~~three ~~for~~vendors ~~the nine months ended July 31, 2024, two customers~~ accounted for 3294% (1634%, 31% and 1629%) of the Company’s ~~revenue~~operating expenses, respectively.

For the three months ended July 31, 2024, three vendors accounted for 88% (36%, 32%, and one related party vendor accounted for 20%) of the Company’s total operating costs and expenses.

For the nine months ended July 31, 2024, four vendors accounted for 89% (32%, 19%, 11%, and one related party vendor accounted for 27%), of the Company’s total operating costs and expenses.

Three and Nine Months Ended July 31, 2023

For the three and nine months ended July 31, 2023, one customer accounted for 100% of the Company’s revenue, and at July 31, 2023, 100% of its accounts receivable. The customer is also an unrelated vendor to the Company and accounted for 8% and 4% of the Company’s total operating costs and expenses for the three and nine months ended July 31, 2023, respectively.

For the three and nine months ended July 31, 2023, one related party vendor accounted for 74% and 72% of the Company’s total operating costs and expenses, respectively.

Recent Accounting Pronouncements

In ~~August~~November ~~2020~~2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ~~2020~~2024-~~06,~~03 Income ~~Debt~~Statement – ~~Debt~~Reporting ~~with~~Comprehensive ~~Conversion~~Income ~~and~~– ~~Other~~Expense ~~Options~~Disaggregation Disclosures (Subtopic ~~470~~220-2040) ~~and~~Disaggregation ~~Derivatives and~~of ~~Hedging~~Income –Statement ~~Contracts~~Expenses. The guidance in ~~Entity’s~~ASU ~~Own~~2024-03 ~~Equity~~requires ~~(Subtopic~~public ~~815-40)~~business ~~(“ASU~~entities ~~2020-06”).~~to ~~This~~disclose ~~ASU~~in ~~reduces~~the notes to the ~~number~~financial ofstatements, ~~accounting~~among ~~models~~other ~~for~~things, ~~convertible~~specific ~~debt~~information ~~instruments~~about certain costs and ~~convertible~~expenses ~~preferred~~including ~~stock~~purchases of inventory; employee compensation; and depreciation, ~~amends~~amortization ~~the~~and ~~guidance~~depletion expenses for each caption on the ~~derivatives~~income ~~scope~~statement where such expenses are included. ASU 2024-03 ~~exception~~is effective for ~~contracts~~annual inreporting anperiods ~~entity’s~~beginning ~~own~~after ~~equity~~December to15, ~~reduce~~2026, ~~form-over-substance-based~~and ~~accounting~~interim ~~conclusions.~~reporting Inperiods ~~addition~~beginning after December 15, ~~this~~2027. ~~ASU~~Early ~~improves~~adoption ~~and~~is ~~amends~~permitted, and the ~~related~~amendments ~~earnings~~may ~~per~~be ~~share~~applied ~~guidance.~~prospectively ~~The~~to ~~Company adopted~~reporting ~~this~~periods ~~guidance~~after the effective ~~November~~date 1,or ~~2023,~~retrospectively to ~~and~~all periods presented in the ~~adoption~~financial ofstatements. ~~this~~The ~~standard~~Company ~~did~~is ~~not~~currently ~~have~~evaluating athe ~~material~~provisions of this guidance and assessing the potential impact on ~~its consolidated~~the Company’s financial ~~statements~~statement disclosures.

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure.” The amendments expand a public entity’s segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker, requiring other new disclosures, and requiring enhanced interim disclosures. ASU 2023-07 requires public entities with a single reportable segment to provide all the disclosures required by this standard and all existing segment disclosures in Topic 280 on an interim and annual basis. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024, applied retrospectively with early adoption permitted. As of January 31, 2025, the Company has adopted ASU 2023-07. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements but has resulted in additional disclosures within the footnotes to our consolidated financial statements (See Note 4).

In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock and amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related earnings per share guidance. The Company adopted the guidance effective November 1, 2023, and the adoption of this standard did not have a material impact on its consolidated financial statements.

Other recent accounting guidance issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

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NOTE 2 – STOCKHOLDERS’ DEFICIT

During the three ~~and nine~~ months ended ~~July~~January 31, 2025, and 2024, the Company did not issue any shares of its Common Stock.

In November 2022, the Company sold 668,750 shares of Common Stock to eighteen individuals in a private placement at a price of $0.80 per share, for total proceeds of $535,000. The proceeds were used to fund expansion of the Company’s operations.

NOTE 3 - RELATED PARTY TRANSACTIONS

Mr. Yip Hoi Hing Peter ~~(“Mr. Peter Yip”)~~, our Chief Executive Officer, Chief Financial Officer, and Director, and his spouse, control 68.23% ~~and~~of the Company’s restricted Common Stock, including 38.86% collectively owned by two companies owned by Mr. ~~Peter~~ Yip, CS Global Consultancy Limited (“CS Global”) and CSG Group Holdings Limited~~, control 105,350,000, or 68~~.~~23%, of the Company’s restricted Common Stock.~~

As of ~~July~~October 31, 2024, ~~and~~the ~~October~~balance ~~31,~~due ~~2023,~~to Mr. Yip for advances to the Company ~~owed~~for Mrsupporting its operations was $94,556. During ~~Peter~~the three months ended January 31, 2025, Mr. Yip further advanced $9033,~~695~~388 to the Company, and ~~$25~~as of January 31,~~563,~~ ~~respectively~~2025, ~~for~~the ~~advances~~balance ~~made~~due to ~~the~~Mr. ~~Company for~~Yip ~~operations.~~was $127,944. The advances are due on demand, are unsecured, and are non-interest bearing.

~~For~~Greenpro ~~the~~Capital ~~three~~Corp., ~~and~~through ~~nine~~its ~~months~~wholly ~~ended~~owned ~~July~~subsidiaries ~~31,~~(collectively ~~2024~~“Greenpro”), is currently a 5.83% shareholder of the Company. ~~did~~In ~~not~~addition, ~~incur~~three ~~any~~executives ~~fees~~of toGreenpro Mrare currently 10.36% shareholders ~~Peter~~of ~~Yip’s~~the ~~companies~~Company.

For the three months ended ~~July~~January 31, ~~2023~~2025, ~~fees paid to CS Global totaled $101,435 consisting of management fees of $29,834~~ and ~~office usage and manpower support of $71~~2024,~~601.~~ ~~For~~ the ~~nine~~Company ~~months~~incurred ~~ended~~accounting ~~July 31, 2023,~~ fees ~~paid~~ to CSGreenpro ~~Global totaled $336,828 consisting~~ of ~~management fees of~~ $895,~~621,~~790 ~~other office usage~~ and ~~manpower support~~ $~~167~~8,~~207~~755, ~~and the one-time fee of $80,000~~respectively.

~~Greenpro~~NOTE ~~Capital~~4 ~~Corp.,~~- ~~through~~SEGMENT its wholly owned subsidiaries (collectively “Greenpro”), holds 9,000,000 shares of the Company’s Common Stock, and is currently a 5.83% shareholder of the Company. In addition, three executives of Greenpro who collectively hold 16,000,000 shares of the Company’s Common Stock, are currently 10.36% shareholders of the Company.INFORMATION

AsThe ofCompany ~~July~~operates ~~31,~~and ~~2024~~manages its business as one reportable and ~~October~~operating ~~31,~~segment ~~2023,~~dedicated to the ~~Company~~delivering ~~prepaid~~consultancy ~~accounting~~and ~~fees~~training services toof ~~Greenpro~~Global Leaders Corp. The measure of ~~$1,920~~segment ~~and~~assets $1is reported on the balance sheet as total consolidated assets. In addition,~~915,~~ the ~~respectively~~Company manages the business activities on a consolidated basis.

~~For~~The ~~the three months ended July 31, 2024, the~~ Company’s ~~incurred~~CODM ~~total~~reviews ~~fees~~financial toinformation ~~Greenpro~~presented ofon ~~$9,553,~~a ~~consisting~~consolidated ofbasis ~~accounting fees of $5,757~~ and ~~company~~decides ~~secretarial~~how ~~fees~~to ofallocate ~~$3,796,~~resources ~~respectively.~~based ~~For~~on ~~the nine months ended July 31, 2024, the Company incurred total fees to Greenpro~~net ofincome ~~$24,062,~~(loss). ~~consisting~~Consolidated ofnet ~~accounting~~income ~~fees~~(loss) ofis ~~$20,266~~used ~~and~~for ~~company~~evaluating ~~secretarial~~financial ~~fees of $3,796, respectively~~performance.

~~For~~Significant ~~the~~segment ~~three~~expenses ~~months~~include ~~ended~~accounting-related ~~July 31~~party, ~~2023,~~filing ~~the Company incurred total~~ fees ~~to Greenpro of $9~~,~~522,~~ ~~consisting of accounting fees of $5,737~~ and ~~company~~external ~~secretarial~~professional fees. ofOperating ~~$3,785,~~expenses ~~respectively.~~include ~~For~~all the ~~nine~~remaining costs ~~months~~necessary ~~ended~~to ~~July~~operate ~~31,~~our ~~2023~~business, ~~the~~which ~~Company~~primarily ~~incurred~~include ~~total~~external ~~fees~~professional toservices ~~Greenpro of~~and ~~$28,029,~~other ~~including~~administrative ~~accounting~~expenses. ~~fees~~The following oftable ~~$22,549,~~presents ~~administration~~the ~~fees~~significant ofsegment ~~$640,~~expenses ~~advisory~~and ~~fees~~other ofsegment ~~$800~~items ~~and~~regularly ~~company~~reviewed ~~secretarial~~by ~~fees~~our ~~of $4,040, respectively.~~CODM:

12SCHEDULE OF SEGMENT EXPENSES

	2025			2024
	Three months ended January 31,
	2025			2024
Revenue	$	2,567		$	7,678

Less:
Accounting-related party		5,790			8,755
Professional fees		27,655			19,585
Operating expenses		1,790			1,558
Net loss	$	(32,668	)	$	(22,220	)

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following information should be read in conjunction with (i) the financial statements of Global Leaders Corp., a Nevada corporation, and the notes thereto appearing elsewhere in this Form 10-Q together with (ii) the more detailed business information and the October 31, ~~2023~~2024 audited financial statements and related notes included in the Company’s most recent Annual Report on Form 10-K for the year ended October 31, ~~2023~~2024 filed with the SEC on January 2624, ~~2024~~2025. Statements in this section and elsewhere in this Form 10-Q that are not statements of historical or current fact constitute “forward-looking” statements.

OVERVIEW

Global Leaders Corp. (the “Company” or “we”) was incorporated in the State of Nevada on July 20, 2020 and has a fiscal year end of October 31.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

USE OF ESTIMATES

REVENUE RECOGNITION

The Company recognizes revenues when its customer obtains control of promised services, in an amount that reflects the consideration the Company expects to receive in exchange for those services. The Company recognizes revenue following the five-step model prescribed by Accounting Standards Codification (ASC) 606, “Revenue from Contracts”, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

RECENT ACCOUNTING PRONOUNCEMENTS

Refer to Note 1 in the accompanying condensed consolidated financial statements.

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PLAN OF OPERATION

WeOur ~~commenced~~planned ~~our~~operations business in 2020 and have a limited operating history. We intend to continue to expand the scope and geographic reach of our services by extending our coverage to service more clients in different regions. Such plans are based on current intentions and assumptions. Our expansion plan may be hindered by factors beyond our control, such as general market conditions, our ability to attract qualified employees, government policies relevant to our industry, our ability to maintain our existing competitive advantages and new market entrants. For example, there may be ownership restrictions in new jurisdictions where we intend to expand. For us to operate as a management consultancy services provider in these jurisdictions, we may be required to identify suitable local partners to enter such new markets. If we are unable to successfully implement our growth strategy, our business, financial condition, results of operations and prospects may be materially and adversely affected.

Our anticipated future growth will likely place significant demand on our management and operational efficiency. Our success in managing our growth will depend, to a significant degree, on our ability to attract ~~more~~ new clients and retain existing clients and launch new ~~services,~~ ~~and successfully monetize them,~~ services to increase our revenue. In addition, we will ~~have to successfully~~ adapt our existing services to changing industry and user conditions, and expand, train , and manage our employees. The market in which we operate is highly dynamic and may not develop as expected. ~~Our clients may not fully understand the value of our services and potential clients and candidates may have difficulty distinguishing our services from those of our competitors.~~ If we are unable to manage our operations properly and prudently as we continue to grow in this ~~dynamic and~~ evolving market, or if the quality of our services deteriorates due to mismanagement, our brand name and reputation could be severely harmed, which would materially and adversely affect our business, financial condition, and results of operations.

Results of Operations

Three Months Ended ~~July~~January 31, ~~2024~~2025, and ~~2023~~2024

~~For~~We recorded $2,567 and $7,678 of revenues for the three months ended ~~July~~January 31, ~~2024~~2025, ~~revenue was $26,340~~ and ~~cost of revenue was $16~~2024,~~706~~ respectively.

WeFor ~~recorded~~the ~~$3,828~~three ofmonths ~~service~~ended ~~revenues~~January 31, 2025 and $02024, ofno cost- of~~-service~~ revenues ~~for~~was ~~the three months ended July 31, 2023~~incurred.

For the three months ended ~~July~~January 31, ~~2024~~2025, and ~~2023~~2024, general and administrative expenses were $3035,~~337~~235 and $~~136~~29,~~671~~898 and included $95,~~553~~790 and $~~110~~8,~~957~~755 of general and administrative expenses to a related ~~parties~~party for the three months ended ~~July~~January 31, ~~2024~~2025, and ~~2023~~2024, respectively.

Nine Months Ended July 31, 2024 and 2023

For the nine months ended July 31, 2024, revenue was $39,130 and cost of revenues was $16,706.

We recorded $3,828 of service revenues and $0 of cost-of-service revenues for the nine months ended July 31, 2023.

For the nine months ended July 31, 2024 and 2023, general and administrative expenses were $73,117 and $467,376 and included $24,062 and $364,857 of general and administrative expenses to related parties for the nine months ended July 31, 2024 and 2023, respectively.

Liquidity and Capital Resources

GOING CONCERN

For the ~~nine~~three months ended ~~July~~January 31, ~~2024~~2025, the Company incurred a net loss of $5032,~~693~~668 and used cash in operating activities of $6231,~~627 and~~678 and at ~~July~~January 31, ~~2024~~2025, the Company had a stockholders’ deficit of $79123,~~596~~684. These factors, among others, raise substantial doubt ~~about~~ about the Company’s ability to continue as a going concern within one year of the date that these financial statements are issued. In In addition, the Company’s independent registered public accounting firm, in its report on the Company’s October 31, ~~2023 financial~~2024 financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. These financial statements do do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

At ~~July~~January 31, ~~2024~~2025, our cash balance was $42,~~379~~280. Management estimates that the current funds on hand will be sufficient to continue operations through the next three months. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to implement its business plans and continue receiving financial support from its officers and shareholders. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company can obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 3.

ITEM 4. CONTROLS AND PROCEDURES.

DISCLOSURE CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures:

We conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of ~~July~~January 31, ~~2024~~2025. This evaluation was carried out by Mr. Yip Hoi Hing Peter ~~(“Mr. Peter Yip”)~~, our Chief Executive Officer and Chief Financial Officer, who also serves as our principal executive officer and principal financial and accounting officer, respectively. Based upon that evaluation, Mr. ~~Peter~~ Yip concluded that, as of ~~July~~January 31, ~~2024~~2025, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Management has identified the following material weaknesses which have caused management to conclude that, as of ~~July~~January 31, ~~2024~~2025, our disclosure ~~controls~~ controls and procedures were not effective: Inadequate segregation of duties consistent with control objectives.

Changes in Internal Control over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ended ~~July~~January 31, ~~2024~~2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

The Company is not currently subject to any legal proceedings. From time to time, the Company may become subject to litigation or proceedings in connection with its business, as either a plaintiff or defendant. There are no such pending legal proceedings to which the Company is a party that, in the opinion of management, is likely to have a material adverse effect on the Company’s business, financial condition or results of operations.

ITEM 1A. RISK FACTORS.

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

None.

ITEM 5. OTHER INFORMATION.

None.

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ITEM 6. EXHIBITS.

(a) Exhibits required by Item 601 of Regulation SK.

Number		Description
3.1		Articles of Incorporation (1)

3.2		Bylaws (1)

17.1		Departure of Director and Appointment of Officer dated June 4, 2021 (2)

17.2		Departure of Director and Appointment of Officer dated June 22, 2021 (3)

17.3		Departure of Director and Appointment of Officer dated September 23, 2021 (4)

31.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*

101.INS**		Inline XBRL Instance Document

101.SCH**		Inline XBRL Taxonomy Extension Schema Document

101.CAL**		Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF**		Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB**		Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE**		Inline XBRL Taxonomy Extension Presentation Linkbase Document

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Filed herewith.

(1)	Previously filed and incorporated by reference to the Company’s Registration Statement on Form S-1, as amended (File No. 333-251324), as filed with the Securities and Exchange Commission on December 14, 2020.

(2)	Previously filed as an exhibit to the Company’s Current Report on Form 8-K filed with SEC on June 4, 2021.

(3)	Previously filed as an exhibit to the Company’s Current Report on Form 8-K filed with SEC on June 23, 2021.

(4)	Previously filed as an exhibit to the Company’s Current Report on Form 8-K filed with SEC on September 24, 2021.

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

1716

SIGNATURES

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

	GLOBAL LEADERS CORP.
	(Name of Registrant)
Date: September 5, 2024	By:	/s/ Yip Hoi Hing Peter
Date: March 10, 2025	By:	/s/ Yip Hoi Hing Peter
	Name:	Yip Hoi Hing Peter
	Title:	Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)

1817

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