Globe Staff Consulting Corp (fka GSFC)

[chapter54]

10qsb

Our cash balance as of September 30, 2006 was zero. Since the change in control of the Company on March 16, 2006 the employees of the Company have not received any payroll and the majority of our vendors have not received payments of amounts due. It is the Company's intention to seek strategic partnerships that result in an infusion of cash into the Company. As our products and services gain market acceptance we would expect to increase our employee headcount.

Based upon our business plan for the next fiscal year we do not expect that significant expenditures for the purchase of plant and equipment or research and development as our products are not labor intensive and have been developed to a stage where significant modifications are not expected.

Based upon the current operating plan, we expect that our existing cash balances and cash flows from operations will be not be sufficient to finance our working capital and capital expenditure requirements through Fiscal 2007. We intend to seek capital via the sale of shares in the equity markets or from cash generated from product licensing transactions. However, if events occur or circumstances change such that we fail to meet our operating plan as expected, we may require additional funds to support our working capital requirements or for other purposes and may seek to raise additional funds through public or private equity or debt financing or from other sources. If additional financing is needed, we cannot be assured that such financing will be available on commercially reasonable terms or at all.

http://biz.yahoo.com/e/061113/tpdi.ob10qsb.html

holding.....

~ ric