10-K Filing

GLOBAL AI, INC. CIK: 1473490 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0000943440-11-000958`
Period End Date	20110930
Filing Date	20111223
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	mycg-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 18

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$2.60K	USD	Point-in-time
Cash	`Cash`	$1.62K	USD	Point-in-time
Cash	`Cash`	$19.82K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.51M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	12.38M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.15K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.51M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	12.38M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$37.50K	USD	Point-in-time
Common stock issuable	`CommonStockSharesSubscribedButUnissued`	128,500.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$48.28K	USD	Point-in-time
Common stock issuable	`CommonStockSharesSubscribedButUnissued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$21.82K	USD	Point-in-time
Total Assets	`Assets`	$21.82K	USD	Point-in-time
Total Assets	`Assets`	$48.28K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.81K	USD	Point-in-time
Accrued expenses - related parties	`DueToRelatedPartiesCurrent`	$60.41K	USD	Point-in-time
Accrued expenses - related parties	`DueToRelatedPartiesCurrent`	$39.74K	USD	Point-in-time
Accrued salary promissory notes	`AccruedSalariesCurrent`	$104.75K	USD	Point-in-time
Accrued salary promissory notes	`AccruedSalariesCurrent`	$136.00K	USD	Point-in-time
Notes Payable - related parties	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$158.19K	USD	Point-in-time
Notes Payable - related parties	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Convertible promissory notes - related parties	`ConvertibleNotesPayable`	-	USD	Point-in-time
Convertible promissory notes - related parties	`ConvertibleNotesPayable`	$203.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$371.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$337.74K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized; 13,512,800 and 12,375,000 issued and outstanding at September 30, 2011 and September 30, 2010, respectively.	`CommonStockValue`	$13.51K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized; 13,512,800 and 12,375,000 issued and outstanding at September 30, 2011 and September 30, 2010, respectively.	`CommonStockValue`	$12.38K	USD	Point-in-time
Common stock issuable, $0.001 par value; zero and 128,500 issuable at September 30, 2011 and September 30, 2010, respectively.	`CommonStockSharesSubscriptions`	$129.00	USD	Point-in-time
Common stock issuable, $0.001 par value; zero and 128,500 issuable at September 30, 2011 and September 30, 2010, respectively.	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$571.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$137.70K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-908.83K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-466.12K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-315.92K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-323.33K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-166.78K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$21.82K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$48.28K	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Affiliate Commissions	`FeesAndCommissions`	$285.00	USD	Annual
Affiliate Commissions	`FeesAndCommissions`	$316.00	USD	Annual
Website Development services	`TechnologyServicesRevenue`	$40.66K	USD	Annual
Website Development services	`TechnologyServicesRevenue`	$26.65K	USD	Annual
Total Revenues	`Revenues`	$40.95K	USD	Annual
Total Revenues	`Revenues`	$26.97K	USD	Annual
Internet & hosting services	`ProfessionalAndContractServicesExpense`	$16.17K	USD	Annual
Internet & hosting services	`ProfessionalAndContractServicesExpense`	$1.81K	USD	Annual
Programming & development	`TechnologyServicesCosts`	$71.31K	USD	Annual
Programming & development	`TechnologyServicesCosts`	$21.84K	USD	Annual
Advertising & marketing	`MarketingAndAdvertisingExpense`	$494.00	USD	Annual
Advertising & marketing	`MarketingAndAdvertisingExpense`	$18.67K	USD	Annual
Domain names and website development costs	`FiniteLivedIntangibleAssetsCostIncurredToRenewOrExtend`	$5.02K	USD	Annual
Domain names and website development costs	`FiniteLivedIntangibleAssetsCostIncurredToRenewOrExtend`	-	USD	Annual
Office and administrative	`GeneralAndAdministrativeExpense`	$13.37K	USD	Annual
Office and administrative	`GeneralAndAdministrativeExpense`	$8.67K	USD	Annual
Travel & entertainment	`TravelAndEntertainmentExpense`	$3.50K	USD	Annual
Travel & entertainment	`TravelAndEntertainmentExpense`	$14.63K	USD	Annual
Professional fees	`ProfessionalFees`	$19.24K	USD	Annual
Professional fees	`ProfessionalFees`	$67.56K	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$73.00	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	-	USD	Annual
Impairment of domain names	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$24.07K	USD	Annual
Impairment of domain names	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	Annual
Salaries	`SalariesWagesAndOfficersCompensation`	$120.00K	USD	Annual
Salaries	`SalariesWagesAndOfficersCompensation`	$120.00K	USD	Annual
Rent - related party	`OperatingLeasesRentExpenseNet`	$6.00K	USD	Annual
Rent - related party	`OperatingLeasesRentExpenseNet`	$9.00K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$290.70K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$250.72K	USD	Annual
Loss From Operations	`IncomeLossFromContinuingOperations`	$-223.75K	USD	Annual
Loss From Operations	`IncomeLossFromContinuingOperations`	$-249.75K	USD	Annual
Interest expense	`InterestExpense`	$17.59K	USD	Annual
Interest expense	`InterestExpense`	$218.97K	USD	Annual
Total Other Expense	`OtherExpenses`	$218.97K	USD	Annual
Total Other Expense	`OtherExpenses`	$17.59K	USD	Annual
Net loss	`NetIncomeLoss`	$-267.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-442.71K	USD	Annual
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Weighted average number of common shares - Basic and Diluted	`WeightedAverageNumberSharesOutstandingBasicAndDiluted`	13.09M	shares	Annual
Weighted average number of common shares - Basic and Diluted	`WeightedAverageNumberSharesOutstandingBasicAndDiluted`	12.34M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-267.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-442.71K	USD	Annual
Embedded conversion based effective interest	`EmbeddedConversionBasedEffectiveInterest`	-	USD	Annual
Embedded conversion based effective interest	`EmbeddedConversionBasedEffectiveInterest`	$-203.44K	USD	Annual
Amortization of prepaid shares issued for services	`AdjustmentForAmortization`	$12.50K	USD	Annual
Amortization of prepaid shares issued for services	`AdjustmentForAmortization`	-	USD	Annual
Amortization of domain names	`AmortizationOfIntangibleAssets`	$73.00	USD	Annual
Amortization of domain names	`AmortizationOfIntangibleAssets`	-	USD	Annual
Impairment of domain names	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$24.07K	USD	Annual
Impairment of domain names	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	-	USD	Annual
Impairment of website development costs	`AssetImpairmentCharges`	$56.13K	USD	Annual
Impairment of website development costs	`AssetImpairmentCharges`	$2.61K	USD	Annual
Write-off of employee receivable	`ProvisionForDoubtfulAccounts`	$700.00	USD	Annual
Write-off of employee receivable	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Contributed capital	`ProceedsFromContributedCapital`	$30.00K	USD	Annual
Contributed capital	`ProceedsFromContributedCapital`	$60.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.15K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.00K	USD	Annual
Increase in accrued salary promissory notes	`IncreaseDecreaseInAccruedSalaries`	-	USD	Annual
Increase in accrued salary promissory notes	`IncreaseDecreaseInAccruedSalaries`	$73.50K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-808.00	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.81K	USD	Annual
Increase in accrued expenses - related party	`IncreaseDecreaseInDueToRelatedParties`	$94.48K	USD	Annual
Increase in accrued expenses - related party	`IncreaseDecreaseInDueToRelatedParties`	$20.68K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.07K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-107.94K	USD	Annual
Website development costs	`EmbeddedServiceCosts`	$-2.61K	USD	Annual
Website development costs	`EmbeddedServiceCosts`	$-56.13K	USD	Annual
Purchase of domain names	`PaymentsForPurchaseOfOtherAssets`	-	USD	Annual
Purchase of domain names	`PaymentsForPurchaseOfOtherAssets`	$4.97K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-61.10K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.61K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$43.20K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$151.86K	USD	Annual
Proceeds from stock subscription receivable	`ProceedsFromCollectionOfOtherReceivables`	-	USD	Annual
Proceeds from stock subscription receivable	`ProceedsFromCollectionOfOtherReceivables`	$10.00K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfNotesPayable`	$59.50K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfNotesPayable`	$16.00K	USD	Annual
Proceeds from notes payable - related parties	`ProceedsFromNotesPayable`	$71.19K	USD	Annual
Proceeds from notes payable - related parties	`ProceedsFromNotesPayable`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$108.39K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$92.36K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$-18.19K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$17.21K	USD	Annual
Cash, beginning of the period	`Cash`	$2.60K	USD	Point-in-time
Cash, beginning of the period	`Cash`	$1.62K	USD	Point-in-time
Cash, beginning of the period	`Cash`	$19.82K	USD	Point-in-time
Cash, end of the period	`Cash`	$2.60K	USD	Point-in-time
Cash, end of the period	`Cash`	$1.62K	USD	Point-in-time
Cash, end of the period	`Cash`	$19.82K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Reclassification of promissory notes in convertible notes payable	`DebtConversionOriginalDebtAmount1`	-	USD	Annual
Reclassification of promissory notes in convertible notes payable	`DebtConversionOriginalDebtAmount1`	$98.69K	USD	Annual
Reclassification of Accrued Salaries into convertible notes payable	`InducedConversionOfConvertibleDebtExpense`	-	USD	Annual
Reclassification of Accrued Salaries into convertible notes payable	`InducedConversionOfConvertibleDebtExpense`	$104.75K	USD	Annual
Conversion of convertible note payable into common stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Conversion of convertible note payable into common stock	`DebtConversionConvertedInstrumentAmount1`	$5.00K	USD	Annual
Prepaid common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$50.00K	USD	Annual
Prepaid common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-315.92K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-323.33K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-166.78K	USD	Point-in-time
Payment for stock subscription receivable	`PaymentsOfStockIssuanceCosts`	$10.00K	USD	Annual
Issuance of previously issuable shares, value	`IssuanceOfPreviouslyIssuableSharesValue`	-	USD	Annual
Common stock issued for cash, amount	`StockIssuedDuringPeriodValueNewIssues`	$151.86K	USD	Annual
Common stock issued for cash, amount	`StockIssuedDuringPeriodValueNewIssues`	$43.20K	USD	Annual
Common stock issued for conversion of convertible note payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$5.00K	USD	Annual
Contributed capital	`ProceedsFromContributedCapital`	$30.00K	USD	Annual
Contributed capital	`ProceedsFromContributedCapital`	$60.00K	USD	Annual
Common stock issued for services, amount	`StockIssuedDuringPeriodValueOther`	$50.00K	USD	Annual
Embedded conversion based effective interest	`EmbeddedConversionBasedEffectiveInterest`	-	USD	Annual
Embedded conversion based effective interest	`EmbeddedConversionBasedEffectiveInterest`	$-203.44K	USD	Annual
Net loss	`NetIncomeLoss`	$-267.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-442.71K	USD	Annual
Balance, amount	`StockholdersEquity`	$-315.92K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-323.33K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-166.78K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.