Global Earth Energy Inc. (fka GLER)

[nodummy]

Another deadline missed here - no big surprise. Unfulfilled promises, missed deadline, and terminated agreements define GLER

That and consulting shares and borderline fraudulent press releases and 8K filings.

Just a quick run down on the missed deadlines associated with the Samuel Coal agreement:

Deadline #1 - August 11, 2011

http://ih.advfn.com/p.php?pid=nmona&article=48081036

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000341/ex101.htm

The agreement requires GLER to pay Samuel Coal $7,500,000 that they do not have.

August 11, 2011 came and went without the deal closing.


Deadline #2 - September 6, 2011

http://ih.advfn.com/p.php?pid=nmona&article=48831556

Global Earth Energy, Inc. (OTCBB: GLER) (PINKSHEETS: GLER) (OTCQB: GLER) announced, along with its joint venture partner Modern Coal, LLC, a Texas major contract mining company, that they will complete the acquisition of Samuel Coal, Inc. by September 6, 2011 or sooner.

September 6, 2011 came and went without the deal closing.


Deadline #3 - mid September

http://ih.advfn.com/p.php?pid=nmona&article=49010670

Global Earth Energy, Inc. (OTCQB: GLER) (OTCBB: GLER) (PINKSHEETS: GLER) announced today that its partially owned Canadian company, Global Earth Natural Resources Inc., which trades on the Frankfurt Stock Exchange under the symbol 2GN, 2GN:GR on the Bloomberg quote system, a co-owner along with Modern Coal, LLC of Global Earth Natural Resources LLC., a Texas limited liability company, has set a closing date of mid September for its acquisition of the Samuel Coal properties in Knott County, Kentucky.

Mid-September came and went without the deal closing.


Deadline #4 - during the week of September 26, 2011

http://ih.advfn.com/p.php?pid=nmona&article=49171966

Global Earth Energy, Inc. (OTCQB: GLER) (OTCBB: GLER) announced today that its partially owned Canadian company, Global Earth Natural Resources Inc., which trades on the Frankfurt Stock Exchange under the symbol 2GN, 2GN:GR on the Bloomberg quote system, a co-owner along with Modern Coal, LLC of Global Earth Natural Resources, L.L.C., a Texas limited liability company, has set a closing date during the week of September 26, 2011, for its acquisition of the Samuel Coal properties in Knott County, Kentucky, which had been previously announced.


The week of September 26, 2011 ended today without the deal closing.


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The Samuel Coal deal is nothing new it just follows a long line of broken promises and terminated agreements:

#1) Aqua Solar Limited from May of 2010 - terminated in December of 2010

#2) Dutchess Opportunity Fund $10 million financing agreement from May of 2010 - terminated in October of 2010

#3) AGS Capital $10 million financing agreement from October of 2010 - terminated in January of 2011

#4) LifeCycle / Reflora do Brasil joint venture agreement from November of 2010 - promised to bring millions of dollars in revenues in 2011 - result has been not 1 penny in revenues

Andrew Madenberg made money though - he was paid 62,642,973 super discounted GLER shares and $120,000 cash which will end up becoming a debt Note then super discounted shares some day

Andrew Madenberg also received a 12 month consulting agreement in January of 2011 that will pay him 6,000,000 shares/month

Andrew Madenberg recently reported receiving another 30,000,000 shares on 8/31/11 valued at $87,000

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8135189

George Sinnis made money - he was paid 2,000,000 super discounted shares and in January of 2011 he signed a 12 month consulting agreement that will pay him 6,000,000 shares/month

#5) LB Tim Ltd. Co $100 million financing agreement from January of 2011 - agreement has missed 4 deadlines so far - the new deadline is December 31, 2011

#6) GFC 2005 LLC agreement from February of 2011 - terminated

#7) Wins International Co Ltd agreement from February of 2011 for the purchase of coal - terminated

#8) Innovated Concepts of Ethanol Corp agreement from February of 2011 - terminated

#9) Biosynergies Lubbock, LLC agreement from March of 2011 - terminated

#10) Modern Coal agreement from April of 2011 - required $25 million payment to close / promises to bring over a ridiculous total of over $525 million in revenues - result still to be determined

#11) CSX Railroad agreement from May of 2011 - no SEC filing was ever made for this agreement and it just mysteriously disappeared from the press releases

#12) Advent Enterprises coal purchase agreement from May of 2011 - result still to be determined


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It looks like investors have taken notice of GLER's history and have maybe noticed the fast growing outstanding share count that has coincided with all the failed promises and terminated agreements:

Outstanding share count on August 30, 2010 = 121,624,800
Outstanding share count on November 30, 2010 = 223,737,773
Outstanding share count on February 28, 2011 = 397,958,664
Outstanding share count on May 31, 2011 = 548,971,465
Outstanding share count on July 20, 2011 = 645,813,413

Or the extremely alarming financial situation:

The last 10Q showed an increase in all debts, deficits, and liabilities during that last reporting quarter

GLER has never had a penny in revenues ever in its history

Notes Payable to related parties have gone up from $159,085 to $195,500

Convertible Notes Payable have gone up from $0 to $20,010

Accrued Expenses have gone up from $239,227 to $265,392

Accrued Interest has gone up from $338,864 to $365,637

Accrued Compensation owed to Directors has gone up from $2,546,761 to $2,705,886

The net loss for the period ending May 31, 2011 was $2,363,470 compared to a net loss of $1,246,288 from the previous period.

GLER's accumulated deficit has grown to $15,387,217 compared to $14,270,035 at the end of the previous period.

The next financial report will surly be much worse again.


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With all the recent new share issuing being approved by GLER I think the most important filing for people to look for will happen at the Nevada Secretary of State.

GLER recently approved another 40,000,000 shares to be issued to consultants:

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000551/gler09262011s8.htm

That follows an S-8 to approve 100,000,000 shares to be issued to consultants in May of 2011:

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000297/gler052011s8.htm

At least somebody is making money while the share price continues to hit new 52 week lows on an almost daily basis:




The executives/directors of GLER have nice compensation agreements as well:





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GLER has to be getting awfully close to maxing out the 800,000,000 authorized common shares.

Watch for an increased in the authorized common shares in the coming days:

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=ed5JjHenyp%252fZUVOOR3L16Q%253d%253d&nt7=0