10-Q Filing

GLOBAL AI, INC. CIK: 1473490 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0000943440-12-000528`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	mycg-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 72 Cash Flow Statement 42

Balance Sheet 40 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`	$4.23K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash	`Cash`	$32.85K	USD	Point-in-time
Cash	`Cash`	$19.82K	USD	Point-in-time
Cash	`Cash`	$1.62K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.51M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.15K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.71M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.71M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.51M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$12.50K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$37.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.73K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.28K	USD	Point-in-time
Total Assets	`Assets`	$16.73K	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`	$5.76K	USD	Point-in-time
Accrued expenses - related parties	`DueToRelatedPartiesCurrent`	$60.41K	USD	Point-in-time
Accrued expenses - related parties	`DueToRelatedPartiesCurrent`	$69.20K	USD	Point-in-time
Accrued salary- promissory notes	`AccruedSalariesCurrent`	$104.75K	USD	Point-in-time
Accrued salary- promissory notes	`AccruedSalariesCurrent`	$163.75K	USD	Point-in-time
Convertible promissory notes - related parties	`ConvertibleNotesPayable`	$203.44K	USD	Point-in-time
Convertible promissory notes - related parties	`ConvertibleNotesPayable`	$203.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$442.16K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$371.61K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized; 13,712,800 and 13,512,800 issued, issuable and outstanding at March 31, 2012 and September 30, 2011, respectively.	`CommonStockValue`	$13.51K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized; 13,712,800 and 13,512,800 issued, issuable and outstanding at March 31, 2012 and September 30, 2011, respectively.	`CommonStockValue`	$13.71K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$571.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$581.79K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-908.83K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-1.02M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-323.33K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-425.43K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$48.28K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$16.73K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Affiliate Commissions	`FeesAndCommissions`	$186.00	USD	2 Qtrs
Affiliate Commissions	`FeesAndCommissions`	$141.00	USD	2 Qtrs
Affiliate Commissions	`FeesAndCommissions`	$11.00	USD	1 Quarter
Affiliate Commissions	`FeesAndCommissions`	$150.00	USD	1 Quarter
Website Development services	`TechnologyServicesRevenue`	$15.14K	USD	1 Quarter
Website Development services	`TechnologyServicesRevenue`	$26.83K	USD	2 Qtrs
Website Development services	`TechnologyServicesRevenue`	$8.49K	USD	2 Qtrs
Website Development services	`TechnologyServicesRevenue`	$6.99K	USD	1 Quarter
Total Revenues	`Revenues`	$27.02K	USD	2 Qtrs
Total Revenues	`Revenues`	$15.29K	USD	1 Quarter
Total Revenues	`Revenues`	$7.00K	USD	1 Quarter
Total Revenues	`Revenues`	$8.63K	USD	2 Qtrs
Internet & hosting services	`ProfessionalAndContractServicesExpense`	$484.00	USD	1 Quarter
Internet & hosting services	`ProfessionalAndContractServicesExpense`	$161.00	USD	1 Quarter
Internet & hosting services	`ProfessionalAndContractServicesExpense`	$967.00	USD	2 Qtrs
Internet & hosting services	`ProfessionalAndContractServicesExpense`	$341.00	USD	2 Qtrs
Programming & development	`TechnologyServicesCosts`	$11.98K	USD	2 Qtrs
Programming & development	`TechnologyServicesCosts`	$10.04K	USD	1 Quarter
Programming & development	`TechnologyServicesCosts`	$12.65K	USD	2 Qtrs
Programming & development	`TechnologyServicesCosts`	$8.74K	USD	1 Quarter
Advertising & marketing	`MarketingAndAdvertisingExpense`	$400.00	USD	2 Qtrs
Advertising & marketing	`MarketingAndAdvertisingExpense`	$117.00	USD	2 Qtrs
Advertising & marketing	`MarketingAndAdvertisingExpense`	$117.00	USD	1 Quarter
Advertising & marketing	`MarketingAndAdvertisingExpense`	$400.00	USD	1 Quarter
Domain names	`LicenseCosts`	$3.25K	USD	2 Qtrs
Domain names	`LicenseCosts`	$2.43K	USD	2 Qtrs
Domain names	`LicenseCosts`	$1.51K	USD	1 Quarter
Domain names	`LicenseCosts`	$2.08K	USD	1 Quarter
Office and administrative	`GeneralAndAdministrativeExpense`	$9.67K	USD	1 Quarter
Office and administrative	`GeneralAndAdministrativeExpense`	$14.42K	USD	2 Qtrs
Office and administrative	`GeneralAndAdministrativeExpense`	$6.20K	USD	1 Quarter
Office and administrative	`GeneralAndAdministrativeExpense`	$8.26K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$20.70K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$40.00K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$39.92K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$17.66K	USD	1 Quarter
Salaries	`SalariesWagesAndOfficersCompensation`	$30.00K	USD	1 Quarter
Salaries	`SalariesWagesAndOfficersCompensation`	$60.00K	USD	2 Qtrs
Salaries	`SalariesWagesAndOfficersCompensation`	$30.00K	USD	1 Quarter
Salaries	`SalariesWagesAndOfficersCompensation`	$60.00K	USD	2 Qtrs
Rent - related party	`OperatingLeasesRentExpenseNet`	$1.50K	USD	1 Quarter
Rent - related party	`OperatingLeasesRentExpenseNet`	$3.00K	USD	2 Qtrs
Rent - related party	`OperatingLeasesRentExpenseNet`	$3.75K	USD	2 Qtrs
Rent - related party	`OperatingLeasesRentExpenseNet`	$2.25K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$74.30K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$134.60K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$67.20K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$126.88K	USD	2 Qtrs
Loss From Operations	`IncomeLossFromContinuingOperations`	$-67.30K	USD	1 Quarter
Loss From Operations	`IncomeLossFromContinuingOperations`	$-125.97K	USD	2 Qtrs
Loss From Operations	`IncomeLossFromContinuingOperations`	$-99.86K	USD	2 Qtrs
Loss From Operations	`IncomeLossFromContinuingOperations`	$-51.91K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.28K	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.27K	USD	1 Quarter
Interest expense	`InterestExpense`	$12.24K	USD	2 Qtrs
Interest expense	`InterestExpense`	$6.09K	USD	1 Quarter
Total Other Expense	`OtherExpenses`	$3.27K	USD	1 Quarter
Total Other Expense	`OtherExpenses`	$6.09K	USD	1 Quarter
Total Other Expense	`OtherExpenses`	$12.24K	USD	2 Qtrs
Total Other Expense	`OtherExpenses`	$7.28K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-112.10K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-133.25K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-57.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-70.56K	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average number of common shares - Basic and Diluted	`WeightedAverageNumberSharesOutstandingBasicAndDiluted`	13.16M	shares	1 Quarter
Weighted average number of common shares - Basic and Diluted	`WeightedAverageNumberSharesOutstandingBasicAndDiluted`	12.91M	shares	2 Qtrs
Weighted average number of common shares - Basic and Diluted	`WeightedAverageNumberSharesOutstandingBasicAndDiluted`	13.57M	shares	1 Quarter
Weighted average number of common shares - Basic and Diluted	`WeightedAverageNumberSharesOutstandingBasicAndDiluted`	13.54M	shares	2 Qtrs

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-112.10K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-133.25K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-57.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-70.56K	USD	1 Quarter
Impairment of website development costs	`AssetImpairmentCharges`	$2.61K	USD	2 Qtrs
Impairment of website development costs	`AssetImpairmentCharges`	-	USD	2 Qtrs
Contributed capital	`ProceedsFromContributedCapital`	$30.00K	USD	2 Qtrs
Contributed capital	`ProceedsFromContributedCapital`	-	USD	2 Qtrs
Amortization of prepaid stock for services	`AmortizationOfPrepaidSharesIssuedForServices`	-	USD	2 Qtrs
Amortization of prepaid stock for services	`AmortizationOfPrepaidSharesIssuedForServices`	$25.00K	USD	2 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.00K	USD	2 Qtrs
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.15K	USD	2 Qtrs
Increase in accrued salary promissory notes	`IncreaseDecreaseInAccruedSalaries`	$30.00K	USD	2 Qtrs
Increase in accrued salary promissory notes	`IncreaseDecreaseInAccruedSalaries`	$59.00K	USD	2 Qtrs
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.55K	USD	2 Qtrs
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$8.92K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.39K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.72K	USD	2 Qtrs
Website development costs	`EmbeddedServiceCosts`	-	USD	2 Qtrs
Website development costs	`EmbeddedServiceCosts`	$-2.61K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.61K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$10.00K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$131.86K	USD	2 Qtrs
Payments on notes payable - related parties	`RepaymentsOfNotesPayable`	$56.50K	USD	2 Qtrs
Payments on notes payable - related parties	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$75.36K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.00K	USD	2 Qtrs
Increase in cash during the period	`CashPeriodIncreaseDecrease`	$13.03K	USD	2 Qtrs
Increase in cash during the period	`CashPeriodIncreaseDecrease`	$2.60K	USD	2 Qtrs
Cash, beginning of the period	`Cash`	$4.23K	USD	Point-in-time
Cash, beginning of the period	`Cash`	$32.85K	USD	Point-in-time
Cash, beginning of the period	`Cash`	$19.82K	USD	Point-in-time
Cash, beginning of the period	`Cash`	$1.62K	USD	Point-in-time
Cash, end of the period	`Cash`	$4.23K	USD	Point-in-time
Cash, end of the period	`Cash`	$32.85K	USD	Point-in-time
Cash, end of the period	`Cash`	$19.82K	USD	Point-in-time
Cash, end of the period	`Cash`	$1.62K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs

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