Glenbriar Technologies (fka GBRT)

[RichieBoy]

Report on Business (FROM CNQ PDF)

1. General Overview and Discussion Glenbriar Technologies Inc. (CNQ:GBRT) is an information technology (IT) services company headquartered in Calgary, with locations in Alberta, British Columbia and Ontario. Glenbriar designs, implements and supports business workflow improvement solutions for small and medium enterprises, including IT outsourcing and consulting services, Internet telephony and VOIP call centre solutions. Glenbriar’s subsidiary, Peartree Software Inc. in Kitchener-Waterloo, develops, markets and supports a proprietary business software solutions. Peartree’s products include recreational vehicle dealer management software and enterprise resource planning (ERP) software modules used by manufacturers and distributors, such as Magna Canada, Dana Canada and Delta Faucet.

2. Activities of Management Management was approached by a group based in Sao Paulo, Brazil in May 2005 to examine the potential for creating business software applications directed at specific market verticals in Brazil. Subsequent discussions and due diligence have been ongoing in this area.

3. New Products or Services Developed or Offered Peartree has been working on extending the functionality of its recreational dealer management software and on expanding its application to include the “power toys” segment, such as motorcycle, marine and all terrain vehicle dealerships.

4. Discontinued Products or Services Glenbriar did not discontinue any operations in May 2005.

5. New Business Relationships There were no new significant business relationships entered into in April 2005.

6. Expiry or Termination of Contracts or Financing Arrangements There was no material change in contracts or financing arrangements in May 2005.

7. Acquisitions or Dispositions of Assets Glenbriar did not acquire or dispose of any significant assets in May 2005. 8. Acquisition or Loss of Customers There were no material changes to Glenbriar’s customer base in May 2005.

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9. New Developments or Effects on Intangible Products or Intellectual Property See item 3 above.

10. Employee Hirings and Terminations There were no hirings or terminations of permanent employees in May 2005.

11. Labour Disputes and Resolutions This item is not applicable.

12. Legal Proceedings Glenbriar is not currently party to any material legal proceedings.

13. Indebtedness Incurred or Repaid Long term liabilities were fully repaid effective March 31, 2005.

14. Securities Issued and Options or Warrants Granted No securities, options or warrants were issued or granted in April 2005.

15. Loans to or by Related Persons There are currently no loans to or by related persons.

16. Changes in Officers, Directors or Committee Members There were no changes in officers, directors or committee members in May 2005.

17. Market, Political and Regulatory Trends Affecting Glenbriar

For a general discussion of the risk factors inherent in the market and regulatory fields affecting Glenbriar, see item 17 in the Listing Statement. There was no material change in market or political factors during April 2005.

The Accounting Standards Board has put forth recommendations that accounting standards in Canada should shift from Canadian generally accepted accounting principles (GAAP) to International Financial Reporting Standards (IFRS) over the next 5 years. This change has already been implemented in Australia, New Zealand and the European Union. The US Securities and Exchange Commission reached an agreement with the EU in April 2005 which establishes that at some point between 2007 and 2009, foreign issuers will be entitled to use IFRS in their filings without having to reconcile their financial statements to US GAAP. In addition, the 30% restriction on foreign content in pension funds and RSPs was eliminated in the recent federal budget. While there will be no immediate impact on Glenbriar’s financial statements as a result of these changes, there may be significant changes resulting when IFRS is adopted. All of these changes are expected to result in harmonization of Canadian and international markets for securities, which is also expected to have a long term effect on the valuation of Canadian equities.

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Page 3 of 3 Certificate Of Compliance The undersigned hereby certifies that:

1. The undersigned is a director and/or senior officer of the Issuer and has been duly authorized by a resolution of the board of directors of the Issuer to sign this Certificate of Compliance.

2. As of the date hereof there were is no material information concerning the Issuer which has not been publicly disclosed.

3. The undersigned hereby certifies to CNQ that the Issuer is in compliance with the requirements of applicable securities legislation (as such term is defined in National Instrument 14-101) and all CNQ Requirements (as defined in CNQ Policy 1).

4. All of the information in this Form 7 Monthly Progress Report is true.

NAME OF ISSUER Glenbriar Technologies Inc. FOR MONTH END May 2005 DATE OF REPORT YY/MM/DD 2005/06/03 ISSUER ADDRESS 301, 401 – 9 Ave SW CITY/PROVINCE/POSTAL CODE Calgary, AB T2P 3C5 ISSUER FAX NO. [phone] ISSUER TELEPHONE NO. [phone] CONTACT NAME Robert Matheson CONTACT POSITION President CONTACT TELEPHONE NO. [phone] x117 CONTACT EMAIL ADDRESS [e-mail] WEB SITE ADDRESS www.glenbriar.com DIRECTOR OR SENIOR OFFICER Robert Matheson SIGNATURE “Robert Matheson” CAPACITY President

END of MAY Monthly Report
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Best....Rich