Global Earth Energy 10Q 2014 Q3 Quarterly report

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_____________________________________

FORM 10-Q

[X] Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934

for the uarterly period ended May 31, 2014

[ ] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File No. 000-31343

_____________________________________

GLOBAL EARTH ENERGY, INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of

incorporation or organization)

36-4567500

(I.R.S. Employer Identification Number)

324 Olde Point Loop

Hampstead, NC 28443

(Address of principal executive offices)

28443

(Zip Code)

(910) 270-7749

(registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement 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 [X] 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 [X]

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

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. At July 1, 2014 the registrant had 1,999,784,754 shares of common stock issued and outstanding.

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Consolidated Balance Sheets at May 31, 2014 (Unaudited) and August 31, 2013

Unaudited Consolidated Statements of Operations for the Three and Nine Months Ended

May 31, 2014 and 2013

Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended

May 31, 2014 and 2013

Notes to Unaudited Consolidated Financial Statements

7-29

Item 2. Management's Discussion and Analysis of Financial Condition and Results

of Operations

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Item 4. Controls and Procedures

Item 4(T). Controls and Procedures

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

Item 1A. Risk Factors

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 3. Defaults Upon Senior Securities

Item 4. Submission of Matters to a Vote of Security Holders

Item 5. Other Information

Item 6. Exhibits

Signatures

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

FINANCIAL REPORTS

MAY 31, 2014

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

CONSOLIDATED BALANCE SHEETS



	(Unaudited)
	May 31,	August 31,
	2014	2013
ASSETS
Cash and Cash Equivalents	$ 935	$ —
Total Assets	$ 935	$ —
LIABILITIES AND STOCKHOLDERS' DEFICIT
Liabilities
Notes Payable	$ 34,500	$ 34,500
Convertible Note Payable - Related Party	—	3,090
Convertible Notes Payable, Net of Unamortized Discount of $18,491 and $6,588, respectively	87,737	258,162
Accrued Expenses	930,963	871,002
Due to Joint Venture	101,250	101,250
Derivative Liabilities	192,754	925,112
Accrued Interest ($1,253,628 and $975,940 owed to related parties)	1,253,628	976,177
Accrued Compensation - Directors	4,512,677	4,035,302
Due to Directors	5,000	19,649
Total Liabilities	7,118,509	7,224,244
Stockholders' Deficit
Common Stock - $.00001 Par; 2,000,000,000 Shares Authorized, 1,999,784,754 and 1,036,003,087 Shares Issued and 1,999,784,734
and 1,036,003,067 Outstanding, Respectively	19,998	10,360
Stock Held in Escrow: 74,572,239 and 152,533,332 Held in Escrow, Respectively	(101,987)	(105,259)
Common Stock, Class B: $.001 Par; 5,171,013 and 50,000,000 Shares Authorized, -0- Issued and
Outstanding, Respectively	—	—
Preferred Stock, Class A: $.001 Par; 10,000 Shares Authorized, -0- Issued and Outstanding	—	—
Preferred Stock, Class B: $.001 Par; 15,000,000 Shares Authorized, 3,000,000 Issued and Outstanding	3,000	3,000
Preferred Stock, Class C: $.001 Par; 5,000,000 Shares Authorized, -0- Issued and Outstanding	—	—
Preferred Stock, Class D: $.001 Par; 13,000,000 Shares Authorized, -0- Issued and Outstanding	—	—
Additional Paid-In-Capital	41,463,780	39,361,624
Accumulated Deficit	(48,499,365)	(46,490,969)
Treasury Stock - 20 Shares at Cost	(3,000)	(3,000)
Total Stockholders' Deficit	(7,117,574)	(7,224,244)
Total Liabilities and Stockholders' Deficit	$ 935	$ —

GLOBAL EARTH ENERGY, INC
Wilmington, North Carolina
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS


	For the Three Months Ended May 31,		For the Nine Months Ended May 31,
	2014	2013	2014	2013
Sales	$ —	$ —	$ —	$ —

Cost of Sales	—	—	—	—
Gross Profit	—	—	—	—

Expenses
Compensation Expense	—	—	—	200,000
Consulting Fees	147,504	147,500	1,072,214	442,500
General and Administrative	128,875	146,677	336,327	619,706
Interest Expense	158,693	111,356	373,796	326,088
Loss on Debt Modifications	—	—	25,281	82,181
(Gain) Loss on Derivative	(147,446)	—	200,778	909,750
Total Expenses	287,626	405,533	2,008,396	2,580,225

Loss from Operations Before
Provision for Taxes	(287,626)	(405,533)	(2,008,396)	(2,580,225)

Provision for Taxes	—	—	—	—
Net Loss for the Period	$ (287,626)	$ (405,533)	$(2,008,396)	$ (2,580,225)

Weighted Average Number of Common Shares Outstanding
Basic and Diluted	1,999,784,754	542,940,467	1,762,536,036	410,997,412
Net Loss Per Common Share -
Basic and Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.01)

GLOBAL EARTH ENERGY, INC.
Wilmington, North Carolina
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS


For the Nine Months Ended May 31,	2014	2013
Cash Flows from Operating Activities
Net Loss for the Period	$(2,008,396)	$(2,580,225)
Non-Cash Adjustments:
Bad Debt	(8,726)	—
Imputed Interest on Related Party Note Payable	2,956	—
Preferred Stock Issued in Exchange for Services Rendered	—	18,621
Common Stock Issued in Exchange for Services Rendered	649,576	205,400
Common Stock Issued in Exchange for Compensation to Officer	143,000	—
Compensation Expense - Stock Option Awards	—	107,863
Amortization of Debt Discount	89,599	64,466
Loss on Debt Modifications	25,281	909,750
(Gain) Loss on Derivative	200,778	82,181
Changes in Assets and Liabilities:
Accrued Expenses	141,190	427,574
Accrued Interest	263	2,757
Accrued Interest - Related Parties	277,688	242,635
Accrued Compensation - Directors	477,375	444,583
Net Cash Flows Used In Operating Activities	(9,416)	(74,395)
Cash Flows from Financing Activities
Bank Overdraft	—	21
Cash Proceeds from Convertible Debt	25,000	63,500
Cash Proceeds from Issuance of Debt	—	2,000
Cash Proceeds from Issuance of Related Party Debt	—	6,818
Repayment of Related Party Debt	—	—
Advances from (Repayment to) Directors - Net	(14,649)	2,056
Net Cash Flows Used In Financing Activities	10,351	74,395
Net Change in Cash and Cash Equivalents	935	—
Cash and Cash Equivalents - Beginning of Period	—	—
Cash and Cash Equivalents - End of Period	$935	$ —
Supplemental Non-Cash Investing and Financing Activities:
Common stock Issued In Payment of Convertible Related Party Debt	$ —	$ 51,000
Common stock Issued to Relieve Accrued Expenses	$ —	$ 39,400
Discounts on Debt due to Derivative Liability	$ 101,502	$ 32,500
Shares Cancelled by Shareholder	$ —	$ 426
Shares Cancelled from Escrow	$ 37,711	$ —
Discounts on Debt due to Beneficial Conversion Features	$ ;—	$ 31,000
Common Stock Issued to Escrow	$ 613,420	$ 2,288,261
Conversion of Accruals into Convertible Notes	$ 81,228	$ —
Derivative Liability Settled to Additional Paid-in-Capital	$ 1,034,638	$ 0,594

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE A – Basis of Presentation

The condensed consolidated financial statements of Global Earth Energy, Inc. (the “Company”) included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in conjunction with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the annual audited financial statements and the notes thereto included in the Company’s Form 10-K, and other reports filed with the SEC.

The accompanying unaudited interim financial statements reflect all adjustments of a normal and recurring nature which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year taken as a whole. Certain information that is not required for interim financial reporting purposes has been omitted.

The Company has changed its primary business objective from advisory services to the Renewable and Recoverable Energy Markets. Consequently, the Company changed their name on February 5, 2008 to Global Earth Energy, Inc.

Principles of Consolidation

The consolidated financial statements include the accounts of Global Earth Energy, Inc., and its wholly-owned subsidiary: Knightsbridge Corp. (the “Company”). All significant inter-company balances have been eliminated in consolidation.

NOTE B – Summary of Significant Accounting Policies

All significant accounting policies can be viewed on the Company’s annual report filed with the Securities and Exchange Commission.

NOTE C – Recently Issued Accounting Standards

In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The new guidance requires that unrecognized tax benefits be presented on a net basis with the deferred tax assets for such carryforwards. This new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2013. We do not expect the adoption of the new provisions to have a material impact on our financial condition or results of operations.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE C – Recently Issued Accounting Standards – continued

In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

- Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income

- But only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and

- Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense.

The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations.

In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE C – Recently Issued Accounting Standards – continued

Like ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations.

In October 2012, the FASB issued ASU 2012-04, “Technical Corrections and Improvements” in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations.

NOTE D – Going Concern

The Company’s consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has reported recurring losses from operations. As a result, there is an accumulated deficit of $48,499,363 at May 31, 2014.

The Company’s continued existence is dependent upon its ability to raise capital or acquire a marketable company. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

NOTE E – Share Activity

Stock Awards

On December 27, 2012, the Company’s attorney was granted as compensation for services options to buy 20,000,000 shares of the Company’s common stock at the last quoted common stock offering price as of that day. A total of 20,000,000 options were granted at an exercise price of $0.001. These options vested immediately, have a five year contractual life and were valued utilizing the Black Scholes modal in the amount of $107,863. The following assumptions were utilized in the Black Scholes calculation; a 0.00% dividend yield, 264.49% expected volatility and a 0.72% discount rate.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE E – Share Activity – continued

The following table provides the range of assumptions used by the Company, at the time stock options were issued.

Stock Awards


Common Stock	Shares Under Option	Weighted Average Exercise Price	Exercisable

2013
Balance - September 1, 2012	28,000	$40.50 - $114	28,000
Options Granted	20,000,000	$0.001	20,000,000
Options Exercised	––	––	––
Options Forfeited	––	––	––
Balance – May 31, 2013	20,028,000		20,028,000


2014
Balance - September 1, 2013	20,028,000	$0.001, & $40.50 - $114	20,028,000
Options Granted	––	––	––
Options Exercised	––	––	––
Options Forfeited	––	––	––
Balance – May 31, 2014	20,028,000		20,028,000
Stock Options - PreferredStock	Shares Under Option	Weighted Average Exercise Price		Exercisable

2014
Balance - September 1, 2013	365,000	$8.60 - $15.20		365,000
Options Granted	––	––		––
Options Exercised	––	––		––
Options Forfeited	––	––		––
Balance – May 31, 2014	365,000			365,000

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE E – Share Activity - continued

Common Stock

On September 12, 2012 Norman Reynolds cancelled 423,618 shares of common stock he was given by the Company. These shares were deducted from common stock issued for the par value of the shares $426 with the cancellation.

On September 21, 2012, 120,000,000 shares of common stock were placed into escrow pursuant to the convertible note agreement made with Asher Enterprises, Inc. These shares were recorded in Stock Held in Escrow account at a value of $1,680,000 based on the grant date fair value of the shares.

On September 12, 2012 Norman Reynolds cancelled 2,000 shares of common stock he was given by the Company in lieu of payment by the Company for legal services he provided as the Company’s attorney. These shares were deducted from common stock issued for the par value of the shares $2 with cancellation.

On November 12, 2012 Sydney Harland was granted 100,000,000 shares of common stock for services rendered to the company. These shares were valued at $200,000 based on the closing price on the date of the grant.

On December 4, 2012, 104,411,290 shares of common stock were placed into escrow pursuant to the convertible note agreement made with Asher Enterprises, Inc. These shares were recorded in Stock Held in Escrow account at a value of $479,500 based on the grant date fair value of the shares.

On April 15, 2013 the Company resolved to adopt the Non-Employee Consultants Retainer Stock Plan for the Year 2013. The purpose of this Plan is to enable the Company, to promote the interests of the Company and its stockholders by attracting and retaining non-employee consultants capable of furthering the future success of the Company and by aligning their economic interests more closely with those of the Company’s stockholders, by paying their retainer or fees in the form of shares of the Company’s common stock. 250,000,000 shares of common stock are registered to this plan at an offering price of $0.0008. The Plan shall expire on April 15, 2023.

On April 15, 2013 Norman Reynolds was granted 15,000,000 shares of common stock in lieu of payment by the Company for legal services he provided as the Company’s attorney. These shares were valued at $13,500 based on the closing price on the date of the grant.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE E – Share Activity - continued

Common Stock

On April 15, 2013 Carolyn Merrill was granted 18,400,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s accountant. These shares were valued at $16,560 based on the closing price on the date of the grant.

On April 15, 2013 Rich Kaiser was granted 6,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $5,400 based on the closing price on the date of the grant.

On April 22, 2013, 183,944,906 shares of common stock were placed into escrow pursuant to the convertible note agreement made with Asher Enterprises, Inc. These shares were recorded in Stock Held in Escrow account at a value of $128,761 based on the grant date fair value of the shares.

On June 5, 2013 Sydney Harland cancelled 50,200,001 shares of common stock he previously held. These shares were deducted from common stock issued for the par value of the shares $502 with the cancellation.

During the three months ended August 31, 2013, Norman Reynolds was granted 132,000,000 shares of common stock in lieu of payment by the Company for legal services he provided as the Company’s attorney. These shares were valued at $44,700 based on the closing price on the dates of the grants.

During the three months ended August 31, 2013, Carolyn Merrill was granted 58,900,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s accountant. These shares were valued at $14,670 based on the closing price on the dates of the grants.

During the three months ended August 31, 2013, Rich Kaiser was granted 25,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $8,800 based on the closing price on the dates of the grants.

During June, 2013, Robert Levitt received a total of 36,000,000 shares common stock in conversion of $3,600 of convertible debt. The value of the shares issued was $3,600. The conversion was in accordance with the modified note agreement therefore no gain or loss was recorded with the conversion.

On July 15, 2013, Phil Sands was granted 25,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $7,500 based on the closing price on the date of the grant.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE E – Share Activity - continued

Common Stock

On August 20, 2013, the Company resolved to adopt the Non-Employee Consultants Retainer Stock Plan No. 2, for the Year 2013. The purpose of this Plan is to enable the Company, to promote the interests of the Company and its stockholders by attracting and retaining non-employee consultants capable of furthering the future success of the Company and by aligning their economic interests more closely with those of the Company’s stockholders, by paying their retainer or fees in the form of shares of the Company’s common stock. 250,000,000 shares of common stock are registered to this plan at an offering price of $0.0001. The Plan shall expire on August 20, 2023.

On August 21, 2013, Spiros Sinnis was granted 25,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $2,500 based on the closing price on the date of the grant.

On August 21, 2013, Michael Harland was granted 25,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $2,500 based on the closing price on the date of the grant.

On September 9, 2013, Carolyn Merrill was granted 20,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s accountant. These shares were valued at $12,000 based on the closing price on the dates of the grant.

On November 8, 2013, Robert Dixon was granted 2,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $5,000 based on the closing price on the date of the grant.

On November 11, 2013, Adam Tracy was granted 2,500,000 shares of common stock in lieu of payment by the Company for legal services he provided as the Company’s attorney. These shares were valued at $4,750 based on the closing price on the date of the grant.

On November 11, 2013, 56,033,333 shares common stock that were placed into escrow pursuant to the convertible note agreement made with Asher Enterprises, Inc. were cancelled due to Asher’s final debt being paid.

On November 12, 2013 Sydney Harland was granted 30,000,000 shares of common stock for services rendered to the company. These shares were valued at $78,000 based on the closing price on the date of the grant.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE E – Share Activity - continued

Common Stock

On November 12, 2013, Betty Ann Harland was granted 25,000,000 shares of common stock for services rendered to the company. These shares were valued at $65,000 based on the closing price on the date of the grant.

During the three months ended November 30, 2013, 509,600,000 shares of common stock were placed into escrow pursuant to the convertible note agreement made with Beaufort Ventures PLC. These shares were recorded in Stock Held in Escrow account at a value of $613,420 based on the grant date fair value of the shares.

During the three months ended November 30, 2013, Rich Kaiser was granted 43,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $77,500 based on the closing price on the dates of the grants.

During the three months ended November 30, 2013, Spiros Sinnis was granted 99,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $173,600 based on the closing price on the date of the grant.

During the three months ended November 30, 2013, Michael Harland was granted 75,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $120,000 based on the closing price on the date of the grant.

During the three months ended November 30, 2013, Jones & Haley, PC was granted 9,000,000 shares of common stock in lieu of payment by the Company for legal services provided as the Company’s attorney. These shares were valued at $15,900 based on the closing price on the dates of the grants.

During the three months ended November 30, 2013, Marie Fay was granted 10,715,000 shares of common stock in lieu of payment by the Company as for services provided to the Company. These shares were valued at $28,931 based on the closing price on the date of the grant.

During the three months ended February 28, 2014, Jones & Haley, PC was granted 69,000,000 shares of common stock in lieu of payment by the Company for legal services provided as the Company’s attorney. These shares were valued at $51,800 based on the closing price on the dates of the grants.

During the three months ended February 28, 2014, Michael Harland was granted 25,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $30,000 based on the closing price on the date of the grant.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE E – Share Activity - continued

Common Stock

During the three months ended February 28, 2014, Spiros Sinnis was granted 65,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $35,500 based on the closing price on the dates of the grants.

During the three months ended February 28, 2014, Robert Dixon was granted 2,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $5,000 based on the closing price on the date of the grant.

During the three months ended February 28, 2014, Phil Sands was granted 25,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $80,000 based on the closing price on the date of the grant.

During the three months ended February 28, 2014, Rich Kaiser was granted 8,000,000 shares of common stock in lieu of payment by the Company for compensation as the Company’s consultant. These shares were valued at $9,600 based on the closing price on the dates of the grant.

See debt Note H for shares issued for conversions of debt.

NOTE F – Related Party Transactions

Certain disbursements of the Company have been paid by two directors of the Company therefore; a Due to Directors account has been established. The balance at May 31, 2014 and August 31, 2013 was $5,000 and $19,649, respectively.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE F – Related Party Transactions - continued

For the quarter ended February 28, 2013 Robert Levitt received 29,000,000 shares common stock for conversion of $29,000 of convertible debt. The conversion was in accordance with the modified note agreement therefore no gain or loss was recorded with the conversion.

For the quarter ended May 31, 2013 Robert Levitt received 15,000,000 shares and was owed an additional 7,000,000 shares of common stock for conversion of $22,000 of convertible debt. The conversion was in accordance with the modified note agreement therefore no gain or loss was recorded with the conversion.

On June 3, 2013 an agreement was signed with Robert Levitt concerning a portion of his debt equal to $6,690. The agreement modified the debt to make it convertible into common stock of the Company at $0.0001 per share. The Company compared the value of the debt modified of $6,690 before and after modification to calculate the loss on modification of $94,633. This value was calculated by comparing the value of the shares if the note was converted on the modification date to the face value of the note. The value of the shares was $101,323 which after deducting the face value of the note of $6,690 resulted in the loss on modification of $94,633. The value of the shares the note was convertible into was calculated by using the closing price of the stock on the modification date. The note payable is convertible into common stock at the discretion of Mr. Levitt. Mr. Levitt will be entitled to a maximum of 66,900,000 shares but at no time will Mr. Levitt be able to own more than 4.99% of the outstanding shares of the Company’s common stock. Furthermore, at any time, the Company may pay the balance of the unconverted note payable in cash.

For the quarter ended August 31, 2013 Robert Levitt received 36,000,000 shares common stock for conversion of $3,600 of this convertible note. The conversion was in accordance with the modified note agreement therefore no gain or loss was recorded with the conversion.

On August 26, 2013, Robert Levitt sold $252,250 of his convertible debt signed into on December 22, 2012 to a party unrelated to the Company. – See Note H.

On September 6, 2013, Robert Levitt sold $3,090 of his convertible debt signed into on March 6, 2013 to a party unrelated to the Company. – See Note H.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE F – Related Party Transactions - continued

On November 12, 2013 Betty Ann Harland was granted 25,000,000 shares of common stock for services rendered to the company. These shares were valued at $65,000 based on the closing price on the date of the grant.

Convertible Note Payable – Related Party balance was $-0- and $3,090 at May 31, 2014 and August 31, 2013, respectively. Amounts due to Robert Levitt are for monies loaned to the Company.

Imputed interest in the amounts of $2,956 and $12,889 were recorded for the nine month periods ended May 31, 2014 and 2013, respectively, due to the notes being non-interest bearing.

Interest expense charged to operations was $373,796 and $214,732 for the nine months ended May 31, 2014 and 2013 respectively. Related parties interest expense was $280,911 and $168,372 for the nine months ended May 31, 2014 and 2013, respectively.

NOTE G – Joint Ventures

Hawk Manufacturing, Inc.

On August 28, 2013, the Company acquired a 20% equity ownership in Hawk Manufacturing Inc., a Florida corporation. Per the agreement, the Company is required to transfer 214,027,096 shares of common stock to Hawk and Hawk is to transfer 250 shares of its common stock to the Company. The Company recorded the value of the shares owed based on the closing stock price on the agreement date, which resulted in a value of $21,403. Hawk had no material revenues or book value at the time of acquisition therefore the entire investment of $21,403 was impaired as of August 31, 2013. Hawk had no material activity from the agreement date through the balance sheet date. The shares owed were recorded to stock payable and re-classed to the derivative liability. On April 4,2014, the agreement was terminated.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE H – Convertible Debentures and Notes Payable

The Company had convertible debentures outstanding as follows:


May 31, 2014		Outstanding Balance of Convertible Debenture		Unamortized Discount		Net of Principal and Unamortized Discount
Convertible Debentures
December 1, 2013 – Debenture		$ 25,000		—		$ 25,000
February 21, 2014 – Debenture		31,891		—		31,891
March 5, 2014 – Debenture		25,115		(1,365)		23,750
May 22, 2014 – Debenture		24,222		(17,126)		7,096
Total Convertible Debentures		$ 106,228		(18,491)		$ 87,737
Convertible Debentures – Related Party
June 3, 2013		$ —		$ —		$ —
August 31, 2013	Outstanding Balance of Convertible Debenture		Unamortized Discount		Net of Principal and Unamortized Discount
Convertible Debentures
April 22, 2013 – Debenture	$ 12,500		$ 6,588		$ 5,912
August 26,2012 – Debenture	252,250		—		252,250
Total Convertible Debentures	$ 264,750		$ 6,588		$ 258,162
Convertible Debentures – Related Party
June 3, 2013	$ 3,090		$ —		$ 3,090

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE H – Convertible Debentures and Notes Payable - continued

On June 26, 2012, the Company entered into a securities purchase agreement with Asher Enterprises Inc. for the sale of a $27,500 in a convertible debenture bearing interest at 8% per annum, payable on or before March 28, 2013. $27,500 was disbursed to the Company on June 29, 2012.

Pursuant to the convertible debenture the investor may convert the debenture into common stock of the Company at a conversion price of 51% of the average price for the lowest three trading prices for the common stock for ten trading days ending one trading day prior to the date of conversion notice sent by the holder to the Company.

On October 17, 2012, Asher Enterprises elected to convert $5,600 of their note payable and $1,100 of accrued interest into 2,161,290 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital. The related derivative liability was also marked to market and relieved to additional paid in capital for $8,529.

On December 1, 2012 Asher and the Company agreed to modify all convertible debt agreements outstanding. The modification entailed a floor conversion price of $0.00005 and also removed ratchet provisions on the conversion price which previously provided anti-dilutive protection against future dilutive equity or debt issuances. The modification effectively alleviated the embedded derivative liabilities resulting from the previously floating conversion price and ratchet provision on the conversion price. It also relieved the derivative liability related to all tainted equity items previously outstanding as a result of the embedded derivative liability on this convertible note. The related derivative liabilities were marked to market on the settlement date using the Black-Scholes model and relieved to additional paid in capital for $162,065.

On December 4, 2012, the Company entered into a securities purchase agreement with Asher Enterprises Inc. for the sale of a $2,500 in a convertible debenture bearing interest at 8% per annum, payable on or before September 6, 2013. $2,500 was disbursed to the Company on December 4, 2012.

Pursuant to the convertible debenture the investor may convert the debenture into common stock of the Company at a conversion price of 50% of the lowest trading price for the common stock for forty-five trading days ending one trading day prior to the date of conversion notice sent by the holder to the Company. The conversion price has a floor of $0.00005 per share. The difference between the market price on the date the note was executed and the conversion price was recorded as a beneficial conversion feature at $2,500. This amount is discounted against the debt balance and is being amortized over the term of the note using the effective interest method.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE H – Convertible Debentures and Notes Payable - continued

On December 5, 2012, the Company entered into a securities purchase agreement with Asher Enterprises Inc. for the sale of a $16,000 in a convertible debenture bearing interest at 8% per annum, payable on or before September 7, 2013. $16,000 was disbursed to the Company on December 5, 2012.

Pursuant to the convertible debenture the investor may convert the debenture into common stock of the Company at a conversion price of 50% of the lowest trading price for the common stock for forty-five trading days ending one trading day prior to the date of conversion notice sent by the holder to the Company. The conversion price has a floor of $0.00005 per share. The difference between the market price on the date the note was executed and the conversion price was recorded as a beneficial conversion feature at $16,000. This amount is discounted against the debt balance and is being amortized over the term of the note using the effective interest method.

On April 22, 2013, the Company entered into a securities purchase agreement with Asher Enterprises Inc. for the sale of a $12,500 in a convertible debenture bearing interest at 8% per annum, payable on or before January 29, 2014. $12,500 was disbursed to the Company on April 22, 2013.

Pursuant to the convertible debenture the investor may convert the debenture into common stock of the Company at a conversion price of 50% of the lowest trading price for the common stock for forty-five trading days ending one trading day prior to the date of conversion notice sent by the holder to the Company. The conversion price has a floor of $0.00005 per share. The difference between the market price on the date the note was executed and the conversion price was recorded as a beneficial conversion feature at $12,500. This amount is discounted against the debt balance and is being amortized over the term of the note using the effective interest method.

On August 26, 2013, the Company entered into a securities purchase agreement with Beaufort Ventures PLC for the transfer of a $252,250 convertible debenture from Robert Levitt to Beaufort that is due on demand and non interest bearing.

Pursuant to the assigned convertible debenture, the investor may convert the debenture into common stock of the Company at a conversion price of 55% of the average lowest three trading prices for the common stock for twenty trading days prior to the date of conversion notice sent by the holder to the Company. The conversion price with this note had an embedded derivative liability due to the variability based on future market prices. As a result the conversion feature was bifurcated and re-valued at market at issuance and at August 31, 2013.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE H – Convertible Debentures and Notes Payable - continued

On September 6, 2013, Robert Levitt sold $3,090 of his convertible debt signed into on March 6, 2013 to Beaufort Ventures PLC. Per the agreement, 30,900,000 shares held in escrow to Robert Levitt, were transferred to Beaufort Ventures PLC. The agreement modified the debt to make it convertible into more shares of the Company’s common stock than before at 55 percent times the lowest trading price of the twenty trading days preceding the conversion date. The Company compared the value of the debt modified of $3,090 before and $28,371 after modification to calculate the loss on modification of $25,281. This value was calculated by comparing the value of the shares if the note was converted on the modification date to the face value of the note. The note payable is convertible into common stock. Furthermore, at any time, the Company may pay the balance of the unconverted note payable in cash.

Amortization expense for debt discounts was $67,124 and $64,466 for the nine months ended May 31, 2014 and 2013, respectively. The net discount on all convertible debt outstanding was $18,491and $6,588 at May 31, 2014 and August 31, 2013, respectively.

Accrued interest was $-0- and $237 at May 31, 2014 and August 31, 2013, respectively.

On December 31, 2012, Asher Enterprises elected to convert $10,000 of their note payable into 7,142,857 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $10,000.

On February 14, 2013, Asher Enterprises elected to convert $11,500 of their note payable into 9,583,333 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $11,500.

On February 20, 2013, Asher Enterprises elected to convert $5,500 of their note payable into 8,333,333 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $5,500.

During the three months ended May 31, 2013, Asher Enterprises elected to convert $33,000 of their note payable and $2,400 accrued interest into 97,491,041 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $35,400.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE H – Convertible Debentures and Notes Payable – continued

During the three months ended August 31, 2013, Asher Enterprises elected to convert $18,500 of their note payable and $740 accrued interest into 186,966,667 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $19,240.

During the three months ended November 30, 2013, Asher Enterprises elected to convert $12,500 of their note payable and $500 accrued interest into 96,500,000 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $13,000.

During the three months ended November 30, 2013, Beaufort Ventures PLC elected to convert $130,079 of their note payable into 215,776,246 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $130,079.

During the three months ended February 28, 2014, Beaufort Ventures PLC elected to convert $116,535 of their note payable into 214,251,515 common shares of the Company. The conversion was in accordance with the convertible note agreement therefore no gain or loss was recorded on the conversion and the converted amount was relieved to common stock and additional paid in capital for $116,535. The remaining principal amount of $8,726 was forgiven by Beaufort to the Company; therefore, the balance as of February 28, 2014 of this loan was $0.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE H – Convertible Debentures and Notes Payable – continued

For the quarter ended August 31, 2013 Robert Levitt received 36,000,000 shares common stock for conversion of $3,600 of his convertible note. The conversion was in accordance with the modified note agreement therefore no gain or loss was recorded with the conversion.

On December 1, 2013, the Company entered into a securities purchase agreement with Beaufort Ventures PLC for a $25,000 convertible debenture that is due on March 10, 2014 and non-interest bearing.

Pursuant to the convertible debenture, the investor may convert the debenture into common stock of the Company at a conversion price of 55% of the average lowest three trading prices for the common stock for twenty trading days prior to the date of conversion notice sent by the holder to the Company. The conversion price with this note had an embedded derivative liability due to the variability based on future market prices. As a result the derivative, the derivative was bifurcated and re-valued at market at issuance and at May 31, 2014. The derivative was valued at $41,500 at issuance, with $25,000 increasing the debt discount and the remaining $16,500 increasing the loss on derivatives. The $25,000 debt discount was amortized by $25,000 during the period from December 1 through May 31, 2014;

On February 21, 2014, the Company entered into a securities purchase agreement with Jones & Haley, PC for a $31,891 convertible debenture bearing interest at 6% that is due on May 21, 2014. The conversion price with this note had an embedded derivative liability due to the variability based on future market prices. As a result the derivative, the derivative was bifurcated and re-valued at market at issuance and at May 31, 2014. The derivative was valued at $31,891 at issuance and completely amortized at May 31, 2014,

On March 5, 2014, the Company entered into a securities purchase agreement with Jones & Haley, PC for a $25,115 convertible debenture bearing interest at 6% that is due on June 5, 2014. The conversion price with this note had an embedded derivative liability due to the variability based on future market prices. As a result the derivative, the derivative was bifurcated and re-valued at market at issuance and at May 31, 2014. The derivative was valued at $25,115 at issuance, during the period ended May 31, 2014 the derivative was amortized in the amount of $23,750 leaving a remaining debt discount of $1,365 at May 31, 2014,

On May 22, 2014, the Company entered into a securities purchase agreement with Jones & Haley, PC for a $24222 convertible debenture bearing interest at 6% that is due on August 22, 2014. The conversion price with this note had an embedded derivative liability due to the variability based on future market prices. As a result the derivative, the derivative was bifurcated and re-valued at market at issuance and at May 31, 2014. The derivative was valued at $19,496 at issuance, during the period ended May 31, 2014 the derivative was amortized in the amount of $2,370 leaving a remaining debt discount of $17,126 at May 31, 2014, convertible note payable – related party at May 31, 2014 and August 31, 2013 consisted of $-0- and $3,090 due and payable to Robert Levitt.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

OTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE I – Derivative Liability

Notes payable at May 31, 2014 and August 31, 2013 consisted of $32,500 due and payable to Marie Fay upon demand and $2,000 due and payable to Warwick Tranter upon demand. Imputed interest expense for the nine months ended May 31, 2014 and 2013 was $2,956 and $12,889, respectively.

The Company evaluated their convertible note agreements pursuant to ASC 815 and due to there being no minimum or fixed conversion price resulting in an indeterminate number of shares to be issued in the future, the Company determined an embedded derivative existed and ASC 815 applied for their convertible notes with a cumulative balance of $22,475 and $261,252 as of February 28, 2014 and August 31, 2013, respectively.

The embedded derivative liabilities were initially settled on November 30, 2012 with amendments that were signed to remove the embedded derivative liabilities. On August 28, 2013 the Company entered into a new convertible note payable which also had embedded derivatives. This caused the derivative liabilities to re-emerge prior to the August 31, 2013 year-end.

The Company valued the embedded derivative within the convertible note using the Black-Scholes valuation model. The result of the valuation is a derivative liability in the amount of $55,683 as of August 31, 2012. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 0.25 to 0.75 years; (2) a computed volatility rate of 345.29% (3) a discount rate of 0.01% and (4) zero dividends. The valuation of this embedded derivative was recorded with an offsetting gain/loss on derivative liability.

As previously mentioned, $20,500 of the previous convertible debt owed of $27,500 was converted during the year ended August 31, 2012. The embedded derivative related to this portion of the convertible debt was re-valued on the settlement dates using the Black Scholes model to be $44,184. The related portion of the derivative liability was marked to market and re-classed to additional paid in capital with the settlements. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 0.25 years; (2) a computed volatility rate of 345.29% (3) a discount rate of 0.01% and (4) zero dividends.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE I – Derivative Liability –continued

The Company evaluated all convertible debt and outstanding warrants to determine whether these instruments may be tainted from the aforementioned derivative. All warrants outstanding were considered tainted as a result of the tainted equity environment and potential inability of the Company to share settle the instruments. The Company valued these warrants using the Black-Scholes valuation model. The result of the valuation is a derivative liability in the amount of $5 as of August 31, 2012. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 2.2 years; (2) a computed volatility rate of 345.29% (3) a discount rate of 0.41% and (4) zero dividends. The valuation of these warrants was recorded with an offsetting gain/loss on the derivative liability.

In August 2012, the 32,667 shares that were issued to Robert Levitt were marked to market for $3,593 and relieved to additional paid in capital with the settlement.

On October 17, 2012 the remaining balance of $5,600 on the Asher note issued on April 27, 2011 for $27,500 and accrued interest of $1,100 was converted for 2,161,290 shares of common stock. The embedded derivative liability within this note was settled with this conversion. The derivative was marked to market on the settlement date and the value of the derivative of $8,529 was re-classed to additional paid in capital with the derivative settlement.

On November 30, 2012 Asher and the Company agreed to modify all convertible debt agreements outstanding. The modification entailed a floor conversion price and also removed ratchet provisions on the conversion price which previously provided anti-dilutive protection against future dilutive equity or debt issuances. The modification related to the previous debt outstanding relieved the embedded derivative liability associated with this note as well as the derivative liabilities associated with all tainted equity instruments.

All outstanding debt and tainted equity were marked to market at November 30, 2012 and relieved to additional paid in capital for $161,987 based on the modification.

The Company valued the embedded derivative within the convertible note settled on November 30, 2012 using the Black-Scholes valuation model. The result of the valuation is a derivative liability in the amount of $161,987 as of November 30, 2012. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 0.50 to 0.58 years; (2) a computed volatility rate of 458% (3) a discount rate of 0.13% and (4) zero dividends. The valuation of this embedded derivative was recorded with an offsetting gain/loss on derivative liability.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE I – Derivative Liability –continued

The Company evaluated all convertible debt and outstanding warrants to determine whether these instruments may be tainted from the aforementioned derivative. All warrants outstanding were considered tainted as a result of the tainted equity environment and potential inability of the Company to share settle the instruments. The Company valued these warrants using the Black-Scholes valuation model. The result of the valuation is a derivative liability in the amount of $2 as of November 30, 2012. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 1.9 years; (2) a computed volatility rate of 644.69% (3) a discount rate of 0.25% and (4) zero dividends. This balance was relieved to additional paid in capital with settlement.

We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 2.2 years; (2) a computed volatility rate of 345.29% (3) a discount rate of 0.41% and (4) zero dividends. The valuation of these warrants was recorded with an offsetting loss on the derivative liability.

For the periods ended November 30, 2012 and August 31, 2012 the Company had 22,429 shares owed that were recorded as a part of the derivative liability due to the tainted equity environment. The related portion of the derivative liability was marked to market according to the value of the shares owed on the balance sheet date, November 30, 2012 and August 31, 2012 was $76 and $225, respectively. The $76 was relieved to additional paid in capital with the November 30, 2012 settlement of the derivative liability.

On August 28, 2013 the Company entered into a new convertible note payable which also had embedded derivatives. This caused the derivative liabilities to re-emerge prior to the August 31, 2013 yearend. The Company valued the embedded derivative within this convertible note using the Black-Scholes valuation model. The result of the valuation is a derivative liability in the amount of $875,303 as of August 31, 2013. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 0.25 years; (2) a computed volatility rate of 494% (3) a discount rate of 0.01% and (4) zero dividends. This value was recorded as a loss on derivative with the offsetting credit to derivative liability as the note is due on demand.

On December 1, 2013 the Company entered into a new convertible note payable which also had embedded derivatives. The Company valued the embedded derivative within this convertible note using the Black-Scholes valuation model. The result of the valuation is a derivative liability in the amount of $38,648 as of February 28, 2014. We estimated the fair value of the derivative using the Black-Scholes valuation method with assumptions including: (1) term of 0.25 years; (2) a computed volatility rate of 510% (3) a discount rate of 0.07% and (4) zero dividends. This value was recorded as a loss on derivative with the offsetting credit to derivative liability as the note is due on demand.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE I – Derivative Liability -continued

At May 31, 2014 and August 31, 2013 the Company had 225,049,525 and 221,049,525 shares owed that were recorded as a part of the derivative liability due to the tainted equity environment.

The related portion of the derivative liability was marked to market according to the value of the shares owed on the balance sheet date, May 31, 2014 and August 31, 2013 was $192,754 and $49,809, respectively.


	Derivative Liability at August 31, 2013	Re-class from equity to derivative liability	Discount on debt with initial valuation	(Gain) Loss on Derivative for the Nine Months Ended May 31, 2014	Settled to Additional Paid in Capital	Derivative Balances At May 31, 2014
Debentures	$ 875,303	$ ––	$ 101,502	$ 175,578	$ (1,004,638)	$ 147,745
Tainted Equity – Stock Payable	49,809	––	––	25,200	(30,000)	45,009
Tainted Equity – Warrants Outstanding	––	––	––	––	––	––
Total	$ 925,112	$ ––	$ 101,502	$ 200,778	$(1,034,638)	$ 192,754

NOTE J – Commitments and Contingencies

The Company is aware of one lawsuit filed against its wholly owned subsidiary Knightsbridge Corp. The case is pending in the Superior Court of the State of California. It was filed on October 4, 2012. It is probable that the Company will have to repay the fees given it for unperformed services in the amounts of $52,800 and has therefore accrued these amounts as liabilities at May 31, 2014 and August 31, 2013, respectively.

The Company is aware of one lawsuit filed against it. The case is pending in the District Court of the State of Texas. It was filed on September 16, 2013. The Company has the following amounts of $567,639 and $573,538 accrued as a liability at May 31, 2014 and August 31, 2013, respectively. The Company is disputing these fees however and plans to vigorously defend itself.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE K – Fair Value

The Company has categorized its assets and liabilities recorded at fair value based upon the fair value hierarchy specified by GAAP. All assets and liabilities are recorded at historical cost which approximates fair value, and therefore, no items were valued according to these inputs.

The levels of fair value hierarchy are as follows:

●

Level 1 inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access;

●

Level 2 inputs utilize other-than-quoted prices that are observable, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs such as interest rates and yield curves that are observable at commonly quoted intervals; and

●

Level 3 inputs are unobservable and are typically based on our own assumptions, including situations where there is little, if any, market activity.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the Company categorizes such financial asset or liability based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Both observable and unobservable inputs may be used to determine the fair value of positions that are classified within the Level 3 category. All assets and liabilities are at cost which approximates fair value and there are not items that were required to be valued on a non-recurring basis.

GLOBAL EARTH ENERGY, INC.

Wilmington, North Carolina

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE K – Fair Value - continued

The following liabilities were valued at fair value as of May 31, 2014 and August 31, 2013. No other items were valued at fair value on a recurring or non-recurring basis as of May 31, 2014 and August 31, 2013.


May 31, 2014		Fair Value Measurements Using
	Carrying
	Value	Level 1	Level 2	Level 3	Total
Derivative Liabilities	$ ––	$ ––	$ ––	$ 192,754	$ 192,754
Convertible Debt - TP	––	––	––	87,737	87,737

Total		$ ––	$ ––	$ 280,491	$ 280,491


August 31, 2013		Fair Value Measurements Using
	Carrying
	Value	Level 1	Level 2	Level 3	Total
Derivative Liabilities	$ ––	$ ––	$ ––	$ 925,112	$ 925,112
Convertible Debt - TP	––	––	––	258,162	258,162
Convertible Debt - RP	––	––	––	3,090	3,090

Total		$ ––	$ ––	$ 1,186,364	$ 1,186,364

Item 2

Management's Discussion and Analysis of Financial Condition and Results ofOperations.

The following discussion reflects our plan of operation. This discussion should be read in conjunction with the financial statements which are attached to this report. This discussion contains forward-looking statements, including statements regarding our expected financial position, business and financing plans. These statements involve risks and uncertainties. Our actual results could differ materially from the results described in or implied by these forward-looking statements as a result of various factors, including those discussed below and elsewhere in this report.

You can generally identify forward-looking statements through words and phrases such as “seek,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “budget,” “project,” “may be,” “may continue,” “may likely result,” and similar expressions. When reading any forward-looking statement you should remain mindful that all forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of Global Earth Energy, and that actual results or developments may vary substantially from those expected as expressed in or implied by that statement for a number of reasons or factors, including those relating to:

Whether or not markets for our proposed products develop and, if they do develop, the pace at which they develop;

Our ability to attract and retain qualified personnel to implement our growth strategies;

Our ability to fund our financing needs;

Competitive factors;

General economic conditions; and

Changes in our business plan and corporate strategies.

Each forward-looking statement should be read in context with, and with an understanding of, the various other disclosures concerning Global Earth Energy and our business made elsewhere in this report. You should not place undue reliance on any forward-looking statement as a prediction of actual results or developments. We are not obligated to update or revise any forward-looking statement contained in this report to reflect new events or circumstances unless and to the extent required by applicable law.

Results of Operations

Three Months Ended May 31, 2014 Compared With Three Months Ended May 31, 2013

Net Revenue for each of the three months ended May 31, 2014, and 2013, was $-0-. Net loss for the three months ended May 31, 2014, was $287,626 compared to net loss of $405,533 for the three months ended May 31, 2013.

Expenses have decreased by $117,907 for the first three months of our current fiscal year from $405,533 for the three months ended May 31, 2013, to $287,626 for the three months ended May 31, 2014. The decrease can be attributed to a decrease in general and administrative expenses of $17,802 from $146,677 to $128,875 and an increase in interest expense of $47,337 from $111,356 to $158,693. The registrant also had an increase in gain on derivative of $147,446 from $-0- gain on derivative to $147,446 gain on derivative.

Nine Months Ended May 31, 2014 Compared With Nine Months Ended May 31, 2013.

Net Revenue for each of the nine months ended May 31, 2014 and 2013, was $-0-. Net loss for the nine months ended May 31, 2014, was $2,008,396 compared to net loss of $2,580,225 for the nine months ended May 31, 2013.

Expenses have decreased by $571,829 for the first nine months of our current fiscal year from $2,580,225 for the nine months ended May 31, 2013, to $2,008,396 for the nine months ended May 31, 2014. The decrease can be attributed to a decrease in compensation expense of $200,000 from $200,000 to $-0-, an increase in consulting fees of $629,714 from $442,500 to $1,072,214 and a decrease in general and administrative expenses of $283,379 from $619,706 to $336,327. The registrant also had an increase in interest expense of $47,708 from $326,088 to $373,796, a decrease in loss on derivative of $708,972 from $909,750 to $200,778 and a decrease in loss on debt modification of $56,900 from $82,181 to $25,281.

Liquidity and Capital Resources

Our operations used approximately $9,416 in cash for the nine months ended May 31, 2014. Cash required during the nine months ended May 31, 2014, came principally from cash proceeds from debt of $25,000 for the nine months ended May 31, 2014.

Our operations used approximately $74,395 in cash for the nine months ended May 31, 2013. Cash required during the nine months ended May 31, 2013 came principally from cash proceeds from issuance of debt of $72,318 and advances from directors of $2,056 for the nine months ended May 31, 2013.

Item 3.

Quantitative and Qualitative Disclosures about Market Risk.

Not Applicable.

Item 4.

Controls and Procedures.

See Item 4(T) below.

Item 4(T).

Controls and Procedures.

The term disclosure controls and procedures means controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act (15 U.S.C. 78a,et seq.) is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

The term internal control over financial reporting is defined as a process designed by, or under the supervision of, the issuer’s principal executive and principal financial officers, or persons performing similar functions, and effected by the issuer’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

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

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

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

Our management, including our chief executive officer and chief financial officer, does not expect that our disclosure controls and procedures or our internal controls over financial reporting will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of inherent limitations in all control systems, internal control over financial reporting may not prevent or detect misstatements, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the registrant have been detected. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Evaluation of Disclosure and Controls and Procedures. Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Exchange Act. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States. We carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. The evaluation was undertaken in consultation with our accounting personnel. Based on that evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are currently ineffective. Each of the factors identified in the 10K/A filed with the Securities and Exchange Commission on February 13, 2013 remain unresolved and have been considered to be material weaknesses in our controls.

Changes in Internal Controls over Financial Reporting. There were no changes in the internal controls over our financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. The matters that management identified in the 10K/A filed with the Securities and Exchange Commission on February 13, 2013, continue to be unresolved and still are considered material weaknesses in our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1.

Legal Proceedings.

On September 9, 2013, the law firm of Norman T. Reynolds filed a lawsuit against Global Earth Energy, Inc. in the District Court for Harris County, Texas. Norman T. Reynolds Law Firm vs. Global Earth Energy, Inc., 151 Judicial District, Harris County, Texas, Cause No. 2013-54117 (September, 2013). The lawsuit alleges that the Company owes the Plaintiff $657,178.25 for legal fees. The Company has filed an Answer, denying the amount of the debt and it intends to vigorously defend itself in this suit.

On September 24, 2012, a lawsuit styledThe Pelas Group, Inc. vs. Sydney Harland, Knightsbridge Corporation, and Global Earth Energy, Inc. was filed in the Superior Court of California in San Diego County, California, under Case No. 37-2012-00104417-CU-BC-CTL. The Plaintiff claims damages in excess of $40,000.00 as a result of an alleged breach of contract between the Plaintiff and Knightsbridge Corporation, a wholly-owned subsidiary of the Company. In addition, to Knightsbridge, the Plaintiff sued the Company and Mr. Harland, the president and chief executive office of the Company, even though neither the Company nor Mr. Harland was a party to the alleged contract. A default judgment was entered in that suit against all the Defendants, including the Company, on November 28, 2012. The Company has accrued $52,800 related to this lawsuit as of May 31, 2013

Item 1A.

Risk Factors.

Not applicable as a smaller reporting company.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds.

None that have not already been reported.

Item 3.

Defaults Upon Senior Securities.

Not applicable.

Item 4.

Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 5.

Other Information.

Not applicable.

Item 6.

Exhibits.



Exhibit No.	Identification of Exhibit
3.1**	Articles of Incorporation filed on April 11, 2000, filed as Exhibit 1 to the registrant’s Current Report on Form 10SB12G on August 15, 2000, Commission File Number 000-31343.
3.2**	Bylaws approved January 31, 1997, filed as Exhibit 2 to the registrant’s Current Report on Form 10SB12G on August 15, 2000, Commission File Number 000-31343.
3.3**	Certificate of Amendment to the Articles of Incorporation filed with the Secretary of State of Nevada on February 5, 2008, filed as Exhibit 3.1 to the registrant’s Current Report on Form 8-K on April 4, 2008, Commission File Number 000-31343.
4.0**	Global Earth Energy, Inc. Amended and Restated Certificate of Designation for the Series A Preferred Stock filed with the Secretary of State of Nevada on January 31, 2011, filed as Exhibit 4.0 to the registrant’s Current Report on Form 8-K on January 31, 2011, Commission File Number 000-31343.
10.1**	Rescission of Plan and Agreement of Triangular Merger Between Global Earth Energy, Inc. and RCI Solar, Inc., executed on December 2, 2010, between Global Earth Energy, Inc., RCI Solar, Inc., and Melvin K. Dick, filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on December 3, 2010, Commission File Number 000-31343.
10.2**	Joint Venture Agreement dated January 10, 2011 between LifeCycle Investments, L.L.C. and Global Earth Energy, Inc., filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on January 12, 2011, Commission File Number 000-31343.



10.3**	Asher Enterprises Inc. Securities Purchase Agreement, executed on December 6, 2010, between Global Earth Energy, Inc. and Asher Enterprises, Inc., filed as Exhibit 10.21 to the registrant’s Annual Report on Form 10-K/A on January 18, 2011, Commission File Number 000-31343.
10.4**	Asher Enterprises Inc. Convertible Promissory Note, executed on December 6, 2010, between Global Earth Energy, Inc. and Asher Enterprises, Inc., filed as Exhibit 10.22 to the registrant’s Annual Report on Form 10-K/A on January 18, 2011, Commission File Number 000-31343.
10.5**	Memorandum of Understanding dated January 26, 2011, between Global Earth Energy, Inc. and LB Tim Co., Ltd., a South Korean corporation, filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on January 31, 2011, Commission File Number 000-31343.
10.6**	Consulting Agreement dated as of January 26, 2011 between Global Earth Energy, Inc. and Spiros Sinnis, filed as Exhibit 10.2 to the registrant’s Current Report on Form 8-K on January 31, 2011, Commission File Number 000-31343.
10.7**	Consulting Agreement dated as of January 26, 2011, between Global Earth Energy, Inc. and Andrew L. Madenberg, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on January 31, 2011, Commission File Number 000-31343.
10.8**	Joint Venture Agreement dated February 9, 2011, between Global Earth Energy, Inc. and GFC 2005, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on February 10, 2011, Commission File Number 000-31343.
10.9**	Memorandum of Understanding dated February 22, 2011, between Global Earth Energy, Inc. and Wins International Co., Ltd., filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on February 22, 2011, Commission File Number 000-31343.
10.10**	Joint Venture Agreement dated February 22, 2011, between Global Earth Energy, Inc. and Innovated Concepts of Ethanol Corp., filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on February 22, 2011, Commission File Number 000-31343.
10.11**	Agreement for the Sale and Purchase of Coal dated February 22, 2011, between Global Earth Energy, Inc. and Wins International Co., Ltd., filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on February 23, 2011, Commission File Number 000-31343.
10.12**	Joint Venture Agreement dated February 24, 2011, between Global Earth Energy, Inc. and Biosynergies Lubbock, LLC, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on February 25, 2011, Commission File Number 000-31343.
10.13**	Amended Rescission of Plan and Agreement of Triangular Merger Between Global Earth Energy, Inc. and RCI Solar, Inc., executed on March 18, 2011, between Global Earth Energy, Inc., RCI Solar, Inc., and Melvin K. Dick, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on March 22, 2011, Commission File Number 000-31343.
10.14**	Regulations of Global Earth Natural Resources, L.L.C., dated May 23, 2011, filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on May 24, 2011, Commission File Number 000-31343.
10.15**	Firm Corporate Offer for International Coal Sales dated April 4, 2011 between Modern Coal, LLC, a Texas limited liability company, and Advent Enterprises Inc., filed as Exhibit 10.2 to the registrant’s Current Report on Form 8-K on May 24, 2011, Commission File Number 000-31343.


10.16**	Certificate of Formation of Global Earth Natural Resources, L.L.C., a Texas limited liability company, dated May 23, 2011, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on May 24, 2011, Commission File Number 000-31343.
10.17**	Amended Rescission of Plan and Agreement of Triangular Merger Between Global Earth Energy, Inc. and RCI Solar, Inc., executed on March 18, 2011, between Global Earth Energy, Inc., RCI Solar, Inc., and Melvin K. Dick, filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on March 22, 2011, Commission File Number 000-31343.
10.18**	Amendment to Memorandum of Understanding between Global Earth Energy, Inc. and L. B. Tim Co., Ltd., dated March 23, 2011, filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on April 8, 2011, Commission File Number 000-31343.
10.19**	Termination notice with respect to the Bio Lubbock Joint Venture Agreement, received on March 29, 2011, filed as Exhibit 10.2 to the registrant’s Current Report on Form 8-K on April 8, 2011, Commission File Number 000-31343.
10.20**	Joint Venture Agreement dated April 7, 2011, between Global Earth Energy, Inc. and Modern Coal, LLC, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on April 8, 2011, Commission File Number 000-31343.

10.21**	Management Agreement dated October 1, 2004, between the registrant and Betty Harland, filed as Exhibit 10.4 to the registrant’s Annual Report on Form 10-KSB on January 30, 2006, Commission File Number 000-31343.
10.22**	Employment Agreement dated August 25, 2007, between the registrant and Sydney A. Harland, filed as Exhibit 10.22 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.23**	Employment Agreement dated August 25, 2007, between the registrant and Edmund J. Gorman, filed as Exhibit 10.23 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.24**	Amended Management Agreement effective October 1, 2009, between the registrant and Betty Harland, filed as Exhibit 10.24 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.25**	Amended Employment Agreement effective August 25, 2009, between the registrant and Edmund J. Gorman, filed as Exhibit 10.25 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.26**	Amended Charter of the Audit Committee of Global Earth Energy, Inc., filed as Exhibit 10.26 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.27**	Amended Code of Business Conduct of Global Earth Energy, Inc., filed as Exhibit 10.27 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.28**	Amended Code of Ethics for Senior Executive Officers and Senior Financial Officers of Global Earth Energy, Inc., filed as Exhibit 10.28 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.


10.29**	Amended Charter of the Compensation Committee of Global Earth Energy, Inc., filed as Exhibit 10.29 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.30**	Amended Corporate Governance Principles of the Board of Directors of Global Earth Energy, Inc., filed as Exhibit 10.30 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.31**	Amended Charter of the Executive Committee of the Board of Directors of Global Earth Energy, Inc. , filed as Exhibit 10.31 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.32**	Amended Charter of the Governance and Nominating Committee of Global Earth Energy, Inc., filed as Exhibit 10.32 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.33**	Amended Charter of the Governance and Nominating Committee of Global Earth Energy, Inc., filed as Exhibit 10.32 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.34**	Amended Charter of the Finance Committee of Global Earth Energy, Inc., filed as Exhibit 10.33 to the registrant’s Annual Report on Form 10-K/A, Amendment No. 2, on March 25, 2011, Commission File Number 000-31343.
10.35**	Termination of Joint Venture Agreement dated November 8, 2011, between LifeCycle Investments, L.L.C. and Global Earth Energy, Inc., filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on November 8, 2011, Commission File Number 000-31343.
10.36**	Joint Venture Agreement between Global Earth Energy, Inc. and Western Energy Group agreed to June 14, 2012, filed as Exhibit 10.1 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.37**	Joint Operating Agreement between Global Earth Energy, Inc. and Western Energy Group agreed to June 14, 2012, filed as Exhibit 10.2 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.38**	Global Earth Energy, Inc. 2012 Options, Restricted Stock and Performance-Based Awards Stock Plan, adopted June 14, 2012, filed as Exhibit 10.3 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.

10.39**	Restricted Stock Award Agreement for Sydney A. Harland, executed June 14, 2012, filed as Exhibit 10.4 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.40**	Restricted Stock Award Agreement for Betty A. Harland, executed June 14, 2012, filed as Exhibit 10.5 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.41**	Restricted Stock Award Agreement for Edmund Gorman, executed June 14, 2012, filed as Exhibit 10.6 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.42**	Restricted Stock Award Agreement for Robert Glassen, executed June 14, 2012, filed as Exhibit 10.7 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.43**	Restricted Stock Award Agreement for Arthur N. Kelly, executed June 14, 2012, filed as Exhibit 10.8 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.
10.44**	Restricted Stock Award Agreement for Richard Proulx, executed June 14, 2012, filed as Exhibit 10.9 to the registrant’s Current Report on Form 8-K on June 15, 2012, Commission File Number 000-31343.


10.45*	Warrant issued to Norman T. Reynolds, Esq. for 20,000,000 shares of the common stock of the registrant, dated December 27, 2012.
16.0**	Letter From Predecessor Independent Registered Public Accounting Firm, dated March 4, 2011, filed as Exhibit 16.0 to the registrant’s Current Report on Form 8-K/A on March 10, 2011, Commission File Number 000-31343.
31.1*	Amended Certification of Sydney A. Harland, Chief Executive Officer of Global Earth Energy, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
31.2*	Amended Certification of Edmund J. Gorman, Chief Financial Officer and Principal Accounting Officer of Global Earth Energy, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
32.1*	Amended Certification of Sydney A. Harland, Chief Executive Officer of Global Earth Energy, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
32.2*	Amended Certification of Edmund J. Gorman, Chief Financial Officer and Principal Accounting Officer of Global Earth Energy, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
99.1**	Press release issued on February 10, 2011, with respect to the Joint Venture Agreement between Global Earth Energy, Inc. and GFC 2005, dated February 9, 2011, filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on February 10, 2011, Commission File Number 000-31343.
99.2**	Press release issued on February 22, 2011, with respect to the Memorandum of Understanding dated February 22, 2011, between Global Earth Energy, Inc. and Wins International Co., Ltd., filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on February 22, 2011, Commission File Number 000-31343.
99.3**	Press release issued on February 23, 2011, with respect to the Joint Venture Agreement between Global Earth Energy, Inc. and Innovated Concepts of Ethanol Corp., dated February 22, 2011, filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on February 23, 2011, Commission File Number 000-31343.
99.4**	Press release issued on February 24, 2011, with respect to the Joint Venture Agreement between Global Earth Energy, Inc. and Biosynergies Lubbock, LLC., dated February 24, 2011, filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on February 25, 2011, Commission File Number 000-31343.
99.5**	Press release issued on March 21, 2011, with respect to the Amended Rescission of Plan and Agreement of Triangular Merger Between Global Earth Energy, Inc. and RCI Solar, Inc., executed on March 18, 2011, between Global Earth Energy, Inc., RCI Solar, Inc., and Melvin K. Dick, filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on March 22, 2011, Commission File Number 000-31343.
99.6**	Press release issued on May 20, 2011, with respect to Firm Corporate Offer for International Coal Sales dated April 4, 2011 between Modern Coal, LLC, a Texas limited liability company, and Advent Enterprises Inc., filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on May 24, 2011, Commission File Number 000-31343.
99.7**	Press release issued on March 21, 2011, with respect to the Amended Rescission of Plan and Agreement of Triangular Merger Between Global Earth Energy, Inc. and RCI Solar, Inc., executed on March 18, 2011, between Global Earth Energy, Inc., RCI Solar, Inc., and Melvin K. Dick, filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on March 22, 2011, Commission File Number 000-31343.
99.8**	Press release issued on April 7, 2011, with respect to the Joint Venture Agreement between Global Earth Energy, Inc. and Modern Coal, LLC, dated April 7, 2011, filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K on April 8, 2011, Commission File Number 000-31343.
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Document
101.CAL*	XBRLTaxonomy Extension Calculation Linkbase
101.DEF*	XBRLTaxonomy Extension Definition Linkbase
101.LAB*	XBRLTaxonomy Extension Lable Linkbase
101.PRE*	XBRLTaxonomy Extension Presentation Linkbase.

____________

*Filed herewith.

**Previously filed.

SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this amended report to be signed on its behalf by the undersigned, thereunto duly authorized.

GLOBAL EARTH ENERGY, INC.

Date: July 21, 2014

By/s/ Sydney A. Harland

Sydney A. Harland, Chief Executive Officer

By/s/ Edmund J. Gorman

Edmund J. Gorman, Chief Financial Officer and Principal Accounting Officer

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

Signature

Title

Date

/s/ Sydney A. Harland

Chief Executive Officer and Director

July 21, 2014

/s/ Edmund J. Gorman

Chief Financial Officer, Principal

July 21, 2014

Accounting Officer, and Director

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	7th grade Avg

Global Earth Energy (GEEG) Inactive 10-Q2014 Q3 Quarterly report

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