U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 10-QSB
Quarterly Report Under
the Securities Exchange Act of 1934
For Quarter Ended: September 30, 2004
Commission File Number: 0-29987
GLOBAL LINKS CORP.
(Exact name of small business issuer as specified in its charter)
Nevada 88-0106514
------ ----------
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
3571 E. Sunset
Las Vegas, Nevada
(Address of principal executive offices)
89120
(Zip Code)
(702) 436-7007
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(Issuer's Telephone Number)
--------------------------------------------------
(Former name, former address and former fiscal year,
if changed since last report)
Check whether the issuer (1) filed all reports required to be filed by
Section13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days:
Yes [X] No [ ].
--- ---
The number of shares of the registrant's issued and outstanding stock as of
November 1, 2004 was 22,856,687 shares of common (adjusted for the 1 for 350
reverse split effected on October 7, 2004)and, 15,000,000 shares of series B
preferred stock.
1
PART I
ITEM 1. FINANCIAL STATEMENTS.
The unaudited financial statements for the three and nine month periods
ended September 30, 2004, are attached hereto.
2
GLOBAL LINKS CORP.
(A Development Stage Enterprise)
CONSOLIDATED BALANCE SHEET
ASSETS
------
September 30, 2004 Dec. 31, 2003
(Unaudited)
------------------ ----------------
CURRENT ASSETS
Cash. . . . . . . . . . . . . . . . . . . . . . . $ 44,710 1,703
Deposits. . . . . . . . . . . . . . . . . . . . . 2,102 102
Other receivables . . . . . . . . . . . . . . . . 24,212 -
------------ ----------
Total Current Assets . . . . . . . . . . . . . . . . 71,024 1,805
------------ ----------
PROPERTY AND EQUIPMENT
Land. . . . . . . . . . . . . . . . . . . . . . . 502,767 -
Building. . . . . . . . . . . . . . . . . . . . . 1,496,140 -
Furniture fixtures & computers (net of
Depreciation of $3,522 and $2,424. . . . . . . 36,692 5,984
------------ ----------
Total Property and Equipment . . . . . . . . . 2,035 599 5,984
------------ ----------
OTHER ASSETS . . . . . . . . . . . . . . . . . . . . - -
Land held for development (see Note 2). . . . . . 1,800,000 1,800,000
Real estate information software. . . . . . . . . 125,000 -
------------ ----------
Total other assets 1,925,000 1,800,000
------------ ----------
Total Assets . . . . . . . . . . . . . . . . . $ 4,031,623 $1,807,789
============ ==========
Liabilities and Shareholder Equity
CURRENT LIABILITIES
Accounts payable. . . . . . . . . . . . . . . . . $ 89,086 $ 39,313
Payable to officers . . . . . . . . . . . . . . . 248,637 226,241
Loan from officer . . . . . . . . . . . . . . . . 21,150 47,523
Other payables.(see note 2) . . . . . . . . . . . 850,000 850,000
Current portion of notes payable. . . . . . . . . 272,098 -
Income taxes payable. . . . . . . . . . . . . . . - -
------------ ----------
Total Current Liabilities. . . . . . . . . . . . . . 1,480,971 1,163,077
------------ ----------
Notes Payable (Long term)
Note payable Sunset Building (see note 3) . . . . 1,154,432 -
------------ ----------
Total Notes payable (Long term) 1,157,902 -
------------ ----------
OTHER LIABILITIES. . . . . . . . . . . . . . . . . . - -
------------ ----------
- -
------------ ----------
STOCKHOLDERS' EQUITY
Common Stock Par value $0.001 (1,900,000,000 shares
authorized, 287,787,799,and 37,972,799 issued
and outstanding).(see note 4) . . . . . . . . . 287,788 37,973
Preferred Stock, Series B (15,000,000 shares
Authorized, 15,000,000 and 3,335,000
Outstanding) (see note 5) . . . . . . . . . . . 15,000 3,335
Additional Paid-in Capital. . . . . . . . . . . . 4,716,229 2,913,676
Retained Deficit - accumulated during
Development Stage. . . . . . . . . . . . . . . (3,622,796) (2,310,272)
------------ ----------
Total Stockholders' Equity. . . . . . . . . . . . 1,396,220 644,712
------------ ----------
Total Liabilities and
Stockholders' Equity . . . . . . . . . $ 4,031,623 $1,807,789
============ ==========
See accompanying notes to financial statements
3
GLOBAL LINKS CORP.
(A Development Stage Enterprise)
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Inception
Nine months Nine Months December 31, 1992
Ended Ended Thru
September 30, 2004 September 30, 2003 Sept. 30, 2004
(Restated see Note 1)
------------------ ------------------ ------------------
REVENUES
Consulting fees. . . . . . . . . . . . . . . $ 100,000 $ 130,000 $ 774,894
Sales. . . . . . . . . . . . . . . . . . . . - - 770,000
Card sales and transaction fees. . . . . . . 124 33 204
Commissions. . . . . . . . . . . . . . . . . - - 1,750
RE-Info fees . . . . . . . . . . . . . . . . 50,408 50,408
Interest Income. . . . . . . . . . . . . . . 104 - 3,868
--------------- --------------- ---------------
Total Revenues. . . . . . . . . . . . . . 150,635 131,783 1,601,123
Cost of goods sold
Cost of RE-Info information. . . . . . . . . 25,000 - 25,000
--------------- --------------- ---------------
Net profit on sales . . . . . . . . . . . . . . 125,635 131,783 1,576,123
EXPENSES
General and Administrative . . . . . . . . . 335,340 109,036 1,187,378
Officer Compensation . . . . . . . . . . . . 126,667 55,225 361,391
Consulting fees. . . . . . . . . . . . . . . 975,055 619,050 2,192,097
Allowance for Uncollectable Debt . . . . . . - - 160,937
Loss from write-down of software . . . . . . - - 538,492
Loss from write-down of notes receivable . . - - 406,067
Depreciation and Amortization. . . . . . . . 1,098 1,068 168,030
Loss from activities of NetBet . . . . . . . - - 184,528
--------------- --------------- ---------------
Total Expenses. . . . . . . . . . . . . . 1,438,159 784,379 5,198,919
--------------- --------------- ---------------
Net Pre-Tax Income (Loss) . . . . . . . . . . . $ (1,312,524) $ (652,596) $ (3,597,796)
Income Taxes . . . . . . . . . . . . . . . . - - -
--------------- --------------- ---------------
Net Income (Loss) After Taxes . . . . . . . . . $ (1,312,524) $ (652,596) $ (3,597,796)
=============== =============== ===============
Net Income (loss) per
Common Share, basic and diluted . . . . . . $ ( 0.009) $ (0.020) $ ( 0.088)
=============== =============== ===============
Weighted Average number of Common
Shares outstanding, basic and diluted
adjusted for previous splits and adjusted
for the acquisition of Capitol Group
Holding Corp. . . . . . . . . . . . . . . . . 147,018,821 30,640,171 41,106,903
=============== =============== ===============
See accompanying notes to financial statements
4
UNITED TRADING.COM
(A Development Stage Enterprise)
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Three months Three Months
Ended Ended
September 30, 2004 September 30, 2003
(Restated see
note 1)
---------------- -----------------
REVENUES
Consulting fees. . . . . . . . . . . . . . . $ 100,000 $ 130,000
Sales. . . . . . . . . . . . . . . . . . . . - -
Card sales and transactions fees . . . . . . 31 33
Commissions. . . . . . . . . . . . . . . . . - 1,750
RE-Info fees . . . . . . . . . . . . . . . . 50,408 -
Interest income. . . . . . . . . . . . . . . 8 -
--------------- ---------------
Total Revenues. . . . . . . . . . . . . . 150,446 131,783
Cost of goods sold
Cost of RE-Info information. . . . . . . . . 25,000 -
--------------- ---------------
Net profit on sales . . . . . . . . . . . . . . 125,635 131,783
EXPENSES
General and Administrative . . . . . . . . . 185,794 8,582
Officer Compensation . . . . . . . . . . . . 27,925 -
Consulting fees. . . . . . . . . . . . . . . 186,890 21,000
Depreciation and Amortization. . . . . . . . 386 356
--------------- --------------
Total Expenses. . . . . . . . . . . . . . 400,994 29,938
--------------- ---------------
Net Pre-Tax Income (Loss) . . . . . . . . . . . $ (275,548) $ 101,845
Income Taxes (Note 4). . . . . . . . . . . . - -
--------------- ---------------
Net Income (Loss) After Taxes . . . . . . . . . $ (275,548) $ 101,845
=============== ===============
Net Income (loss) per
Common Share, basic and diluted . . . . . . $ ( 0.001) $ 0.003
=============== ===============
Weighted Average number of Common
Shares outstanding, basic and diluted
adjusted for previous splits and adjusted
for the acquisition of Capitol Group
Holding Corp . . . . . . . . . . . . . . . . 263,912,038 37,472,799
=============== ===============
See accompanying notes to financial statements
5
GLOBAL LINKS CORP.
(A Development Stage Enterprise)
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
Inception
Nine Months Nine Months Dec 31, 1992
Ended Ended Thru
September 30, 2004 September 30, 2003 Sept. 30, 2004
(Restated see Note 1)
------------------ ----------------- ------------------
OPERATING ACTIVITIES
- ----------------------------------
Net Income (Loss). . . . . . . . . . . . . . . . $ (1,312,524) $ (652,596) $ (3,622,796)
Adjustments to reconcile Net Loss to Cash
provided (used) by operating activities:
Depreciation and Amortization . . . . . . . . 1,098 1,068 144,484
Loss on disposal of office Furniture & Equip. - - 15,972
Loss on write-off of software for license . . - - 538,492
loss on cancellation of notes receivable. . . - - 406,067
Common stock issued for services. . . . . . . 397,215 595,450 1,200,503
Preferred stock issued for services . . . . . 7,665 - 7,665
Preferred stock issued for conv. of debt. . . 4,000 - 4,000
Changes in operating assets and liabilities:
Increase (decrease) in Accounts Payable . . . 49,773 18,808 89,085
Increase (decrease) in Payable to officers. . 22,396 4,771 248,637
(Increase) decrease in Receivable from
Software License Sales . . . . . . . . . . - - (406,067)
(Increase) decrease in Other Receivables. . . (24,212) - (24,212)
(Increase) decrease in Deposits . . . . . . . (2,000) 25 (2,102)
Increase (decrease) in Deferred Taxes . . . . - - -
--------------- --------------- ---------------
Net cash provided by Operating Activities. . . . (856,589) (32,474) (1,400,272)
--------------- --------------- ---------------
INVESTMENT ACTIVAITIES
- --------------------------------------
Decrease (increase) in Property and
Equipment. . . . . . . . . . . . . . . . . (31,806) - (76,532)
Decrease (increase) in land held for Devel. . - (1,800,000)
Decrease (increase) in Software for
License. . . . . . . . . . . . . . . . . . (125,000) - (786,618)
Decrease (increase) in land . . . . . . . . . (502,767) - (502,767)
Decrease (increase) in building . . . . . . . (1,496,140) - (1,496,140)
Decrease (increase) in Organization Costs . . - - (1,190)
--------------- --------------- ---------------
Net cash (used) by Investment activities . . . . (2,155,713) - (4,663,247)
--------------- --------------- ---------------
FINANCING ACTIVITIES
- ---------------------------------
Disposal of Office Furniture & Equip. . . . . - - 3,700
Payable assumed for land purchase . . . . . . - 850,000
Increase (decrease) in Notes payable. . . . . 1,426,530 - 1,426,530
Increase (decrease) in Preferred stock. . . . - 325
Increase (decrease) in Common stock . . . . . 1,655,152 - 3,787,536
Increase in Cash loans from officers. . . . . (26,373) 30,537 40,138
--------------- --------------- ---------------
Net cash provided by Financing Activities. . . . 3,055,309 30,537 6,108,229
--------------- --------------- ---------------
Increase (decrease) in Cash. . . . . . . . . . . 43,007 (1,937) 44,710
Cash at Beginning of Period. . . . . . . . . . . 1,703 4,142 -
--------------- --------------- ---------------
Cash at End of Period. . . . . . . . . . . . . . $ 44,710 $ 2,205 $ 44,710
=============== =============== ===============
See accompanying notes to financial statements
6
GLOBAL LINKS CORP.
(A Development Stage Enterprise)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2004
NOTE 1 - Basis of Presentation
------------------------
The accompanying consolidated balance sheet of Global Links Corp. (A Development
Stage Company) at September 30, 2004, and the consolidated statements of
operations for the three and nine month periods ended September 30, 2004 and
2003 and the cumulative period during the development stage from December 31,
1992 through September 30, 2004 and the statement of cash flows for nine month
periods ended September 30, 2004 and 2003 and the cumulative period during the
development stage through September 30, 2004, have been prepared by the
Company's management and they do not include all information of the financial
position, results of operations, and cash flows in conformity with generally
accepted accounting principles. In the opinion of management, all adjustments
considered necessary for a fair presentation of the results of operations and
financial position have been included and all such adjustments are of a normal
recurring nature. The unaudited financial statements should be read in
conjunction with the financial statements and footnotes thereto included in the
Company's Form 10-KSB for the year ended December 31, 2003. Comparative numbers
for the three and nine month periods ended September 30, 2003, and the Inception
to date data have been restated to include Capitol Group Holdings financial
results as though the acquisition/merger had taken place in the beginning of the
year 2002.
Operating results for the three and nine month periods ended September 30, 2004,
are Not necessarily indicative of the results that can be expected for the year
Ending December 31, 2004.
Note 2 - Land Held for Development
Capitol Group Holdings Corp., a wholly owned subsidiary of the Company acquired
1,000 lots in Mojave County Arizona. The lots are part of a development named
Valle Vista Ranch, an affordable, energy efficient senior development. The
entire project is made up of a total of 1,624 lots. The additional 624 lots not
currently owned by the Company are expected to be acquired by the Company at a
later date. As a part of the acquisition of these lots in Arizona, the Company
assumed a liability to Mojave County, AZ for $650,000 related to unpaid property
taxes on the lots, and assumed a mortgage to the seller in the amount of
$200,000. The Company is currently negotiating a private placement stock
transaction to pay off all debt and begin development of the project.
Note 3 - Notes Payable
As part of the acquisition of a partially completed building with land in
Las Vegas, Nevada (the Sunset Building) the company executed a note to the
seller in the amount of $1,280,000. The note, bearing interest at 8% per annum,
calls for monthly payments in the amount of $9,392.19, beginning June 30, 2004.
At the option of the seller of the property, any outstanding unpaid purchase
payments to the Seller shall be convertible into shares of Common Stock of the
Company.
NOTE 4 - Common Stock
On March 25,2003, the Company filed a registration statement on form S-8
registering shares to be used to compensate various consultants to the Company
for services, advise and assistance in the operation and business of the
Company. By September 30, 2004 the company had issued all of these shares to
various consultants, for their services. In this same registration statement,
the Company registered 5,000,000 shares to be purchased by employees of the
Company, all of which had been issued by March 31, 2004. On or about January 28,
2004, the Company filed a registration statement on form S-8 registering
additional shares to be used to compensate various consultants to the Company
for services, advise and assistance in the operation and business of the
Company. As of September 30, 2004, none of these shares had been issued. In
addition, in this same registration, the Company registered shares underlying
options for employees of the Company to purchase common shares of the Company.
At June 30, 2004 all of these shares had been purchased by employees of the
Company. On or about April 21, 2004, the Company filed a registration statement
on form S-8 registering shares to be used to compensate various consultants to
the Company for services, advise and assistance in the operation and business of
the Company. By September 30, 2004, all of these shares had been issued. In the
same registration statement, the Company registered 90,000,000 shares to be
purchased by employees of the Company, of which all had been issued at September
30, 2004. On or about July 28, 2004, the Company filed another registration
statement on form S-8 registering shares to be used to compensate various
consultants to the Company for services, advise and assistance in the operation
and business of the Company. By September 30, 2004, none of these shares had
been issued. In the same registration statement, the Company registered
174,000,000 shares to be purchased by employees of the Company, of which
12,000,000 had been issued at September 30, 2004.
7
Note 5 - Preferred Stock
As of September 30, 2004, 15,000,000 shares of Series B Preferred Stock of the
Company Had been issued and are outstanding. Amongst other rights, Each holder
of Series B Preferred Stock is be entitled to twenty (20) votes for each share
of Series B Stock held at the record date for the determination of stockholders
entitled to vote on any matter at any meeting of the Company's stock holders.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR
PLAN OF OPERATIONS
The following discussion should be read in conjunction with the Financial
Statements and notes thereto included herein.
THIS QUARTERLY REPORT ON FORM 10-QSB CONTAINS STATEMENTS WHICH CONSTITUTE
FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 21E OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED. DISCUSSION CONTAINING SUCH FORWARD-LOOKING
STATEMENTS MAY BE FOUND IN THE MATERIAL SET FORTH BELOW AND UNDER "BUSINESS," AS
WELL AS WITHIN THE ANNUAL REPORT GENERALLY. IN ADDITION, WHEN USED IN THIS
ANNUAL REPORT, THE WORDS "BELIEVES," "ANTICIPATES," "EXPECTS," "PLANS,"
"INTENDS" AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING
STATEMENTS. FORWARD-LOOKING STATEMENTS AND STATEMENTS OF EXPECTATIONS, PLANS AND
INTENT ARE SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES. ACTUAL RESULTS IN THE
FUTURE COULD DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS, AS A RESULT, AMONG OTHER THINGS, OF CHANGES IN TECHNOLOGY, CUSTOMER
REQUIREMENTS AND NEEDS. WE UNDERTAKE NO OBLIGATION TO RELEASE PUBLICLY THE
RESULTS OF ANY REVISIONS TO THESE FORWARD-LOOKING STATEMENTS THAT MAY BE MADE TO
REFLECT ANY FUTURE EVENTS OR CIRCUMSTANCES.
Because the Company lacks capital, an investment in it involves a very high
degree of risk.
For the three month period ended September 30, 2004, the Company recorded $31 in
card sales, transaction fees and commissions from issued stored value cards,
$100,000 in Consulting fees, $50,408 in fees for access to and use of the
RE-Info web site, compared to $1,783 in card sales, transaction fees and
commissions from issued stored value cards, $130,000 in consulting fees, and no
receipts for the RE Info web site in the same period of 2003. For the nine month
period ended September 30, 2004 the Company recorded $124 in Card Sales,
transaction fees and commissions, from issued stored value cards, $100,000 in
consulting fees, and $50,408 in fees for access to and use of the RE-Info web
site, compared to $1,783 in card sales, transaction fees and commissions from
issued stored value cards, $130,000 in consulting fees, and no receipts for the
RE Info web site in the same period of 2003. The Company also received $8 in the
three months and $104 in nine month periods of 2004, in interest income,
compared to nothing in the same periods of 2003.
In April, 2003, the Company entered into a triangular merger, effective June 30,
2003 to acquire Capitol Group Holdings Corporation, whose main asset is a real
estate holding in Kingman, Arizona of 1,000 residential lots which have been
designated for an energy-efficient, affordable senior housing project (the
"Acquisition"). The Company intends to use the assets acquired in the
Acquisition to expand its core business and product offerings.
In June 2004, the Company acquired a partially completed office building located
in Las Vegas, Nevada. During the quarter ended September 30, 2004, the Company
proceeded in the process of completing the interior of the Building. The
completion of the interior was accomplished in October. The Company plans on
utilizing a portion of the completed offices and has leased the balance of the
building to an outside lessee. The Company has also entered into an option to
acquire undeveloped land adjacent to its existing building. Exercise of the
option and the construction of two additional buildings is pending completion of
financing for the project.
In June, 2004, the Company announced the launch of a beta site for its
subscription Web site (www.r-einfo.net) The site was fully launched on August 1,
2004 listing information on foreclosure recordings, auction listings, property
profile information and REO properties. As a subscription service, users will
pay a monthly fee to access the available information. In November, 2004, the
Company determined that there were certain problems being encountered by users.
The Company also has entered into an agreement with a third party company to
make additional information available on the site and has decided to temporarily
close the Internet site for approximately six weeks to address the access
problem and to add access to the expanded data on the site.
The Company does not have any off-balance sheet arrangements or contractual
obligations that are likely to have or are reasonably likely to have a material
current or future effect on the Company's financial condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that have not been disclosed in the
Company's financial statements.
Forward Looking Statements
In connection with, and because it desires to take advantage of, the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995, the
Company cautions readers regarding certain forward looking statements in the
following discussion and elsewhere in this report and in any other statement
made by, or on the behalf of the Company, whether or not in future filings with
the Securities and Exchange Commission. Forward looking statements are
statements not based on historical information and which relate to future
operations, strategies, financial results or other developments. Forward looking
statements are necessarily based upon estimates and assumptions that are
inherently subject to significant business, economic and competitive
uncertainties and contingencies, many of which are beyond the Company's control
and many of which, with respect to future business decisions, are subject to
change. These uncertainties and contingencies can affect actual results and
could cause actual results to differ materially from those expressed in any
forward looking statements made by, or on behalf of, the Company. The Company
disclaims any obligation to update forward looking statements.
8
ITEM 3. CONTROLS AND PROCEDURES
Evaluation of disclosure controls and procedures.
Our chief executive officer and chief financial officer has reviewed and
evaluated the effectiveness of our disclosure controls and procedures (as
defined in Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934
(the "Exchange Act"), as of a date within ninety days before the filing of this
quarterly report. Based on that evaluation, the chief executive officer and
chief financial officer have concluded that our current disclosure controls and
procedures are effective to ensure that information required to be disclosed by
us in reports that we file or submit under the Exchange Act is recorded,
processed, summarized, and reported within the time periods specified in the
Commission's rules and forms.
Changes in internal controls.
There have not been any significant changes in our internal controls or in other
factors that could significantly affect these controls subsequent to the date of
their evaluation. There were no significant deficiencies or material weakness in
the internal controls, and therefore no corrective actions were taken.
9
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS - NONE
ITEM 2. CHANGES IN SECURITIES
a) None
b) NONE
c) During the quarter ended September 30, 2004 there were no unregistered
shares of the Company's common stock issued. During the quarter ended September
30, 2004, 3,000,000 shares of the Company's Series B preferred stock were issued
to individuals as compensation for services. Due to an oversight in the timely
filing of a document with the Nevada Secretary of State, 3,165,000 shares of the
Company's series B preferred stock issued and reported in the quarter ended June
30, 2003, and 4,000,000 shares issued and reported in December, 2003 were
cancelled and reissued in the quarter ended September, 2004 There being no
market for the preferred stock, the stock was valued at its par value of $0.001
per share. The Series B preferred stock is convertible at any time to common
stock of the Company at ten shares of common stock for each 1 share of preferred
stock. The shares are exempt from registration under Section 4(2) of the
Securities Act of 1933.
d) None
e) None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES: - NONE
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS: - none
ITEM 5. OTHER INFORMATION - NONE
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K -
(a) Exhibits None
(b) Reports on Form 8-K: On September 10, 2004 an 8K (amended on form 8KA
on September 22,2004) was filed announcing the sale of unregistered securities.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GLOBAL LINKS CORP.
Date: August 13, 2004 By: /Frank Dobrucki
---------------------------
Frank Dobrucki,
President, and CEO,
10
CERTIFICATION PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
CERTIFICATIONS
I, Frank Dobrucki, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Global Links Corp.;
2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;
4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
a) designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this quarterly report is being prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and
c) presented in this quarterly report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of the
Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):
d) all significant deficiencies in the design or operation of internal controls
which could adversely affect the registrant's ability to record, process,
summarize and report financial data and have identified for the registrant's
auditors any material weaknesses in internal controls; and
e) any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls; and
6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.
Date: November 5, 2004
/s/Frank Dobrucki
------------------
Frank Dobrucki
President
and Chief Executive Officer
(Principal Executive Officer)
11
CERTIFICATION PURSUANT TO
18 U.S.C.SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
I, Frank Dobrucki, Chief Executive Officer for Global Links Corp. certify that:
1. I have reviewed the quarterly report on Form 10-QSB of Global Links Corp.;
2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.
Dated November 5, 2004
/s/Frank Dobrucki
------------------
Frank Dobrucki
President
and Chief Executive Officer
(Principal Executive Officer)
12