Global Earth Energy Inc. (fka GLER)

[tikasun]

I dont know why but I was thinking that something might not have worked in this deal. I found

The life insurance portfolios to be contributed to the joint venture currently are collateral for a loan in the amount of approximately $3
million owed by LifeCycle to First Chicago Bank & Trust. The registrant agreed with LifeCycle that it would attempt to raise the necessary
funds to pay of the loan to First Chicago Bank & Trust. Once the loan was paid in full, LifeCycle was to contribute the life insurance portfolios
to the joint venture, whereupon the registrant would own a 40 percent interest in the life insurance portfolios and all other assets of the joint
venture and would share in 40 percent of the net income of the joint venture.
Due to various market conditions, no funds were raised or spent in connection with the Joint Venture Agreement, and no activity was
conducted by either the registrant or LifeCycle Investments, L.L.C. in connection with the Joint Venture Agreement. No fees were due for
sales of or death benefits to policies completed prior to the termination date.

Seems to me at this point in time that there's no damage done. Merely a deal cancellation that didnt work out in favor of Life Cycle who's stuck with a loan that GLER couldnt help them with.

10Q For the quarterly period ended May 31, 2011

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12(b)-2 of the Exchange Act). Yes [ ] No [X]

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. At July 20, 2011, the registrant had outstanding 645,813,413 shares of common stock.

This number of shares if not as such that it would induce an RS.
I dont see anything negatively serious going on right now. Next PR will tell all.