posted

---

quote:

---

Originally posted by lilhen2005:
This is funny here, I think it states 2,000,000,000 authorized.
Global Resource CORP: 10QSB, Sub-Doc 1, Page 2



PART 1: FINANCIAL INFORMATION

ITEM 1 - CONDENSED FINANCIAL STATEMENTS


F-1


GLOBAL RESOURCE CORPORATION
(A Development Stage Company)
Balance Sheets

ASSETS

December 31, March 31,
2005 2005
----------- -----------
(Unaudited)
CURRENT ASSETS

Cash $ 131 $ 175
----------- -----------
Total Current Assets 131 175
----------- -----------
OTHER ASSETS

Investments (Note 4) 0 57,073
----------- -----------
Total Other Assets 0 57,073
----------- -----------
TOTAL ASSETS $ 131 $ 57,248
=========== ===========

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES

Accounts payable $ 46,763 $ 5,438
Accounts payable - related party 54,004 52,795
Accrued expenses - related party 1,000 --
Wages payable 190,000 150,000
Accrued interest 12,888 4,716
Convertible debentures 102,345 137,900
----------- -----------
Total Current Liabilities 407,000 350,849
----------- -----------
STOCKHOLDERS' DEFICIT

Preferred stock: 50,000,000 shares authorized
of $0.001 par value, no shares issued and
outstanding -- --
Common stock: 2,000,000,000 shares authorized,
of $0.001 par value, 7,215,000 shares
issued and outstanding 7,215 7,215
Additional paid-in capital 7,065,520 7,060,020
Accumulated deficit (7,479,604) (7,360,836)
----------- -----------
Total Stockholders' Deficit (406,869) (293,601)
----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS'
DEFICIT $ 131 $ 57,248
=========== ===========

The accompanying notes are an integral part of these financial statements.


F-2

---