Global MobileTech, Inc.

 (Exact name of registrant as specified in its charter)

1312 North Monroe, Suite 750

Spokane, Washington 99201

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number: (509) 723-1312

Securities registered pursuant to Section 12(b) of the Act: NONE

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $0.001 par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes [   ]   No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes [  ]   No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES [X]   NO [   ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  YES [X ]  NO [  ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definition of “accelerated filer,” “larger accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

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

The aggregate market value of the common stock of the registrant held by non-affiliates of the registrant on October 11, 2011, based upon the closing sale price of such shares on the Over-the-Counter Bulletin Board on October 11, 2011, was $2,149,258. Shares of common stock held by each officer and director and by each person who is known by the registrant to own 5% or more of the outstanding common stock, if any, have been excluded in that such persons may be deemed to be affiliates of the registrant. The determination of affiliate status is not necessarily a conclusive determination for any other purpose. The shares of our company are currently “listed” on the NASDAQ OTC Bulletin Board Exchange, symbol “GLMB.”

As of October 12, 2011, there were 4,706,251 shares of our common stock, $0.001 par value, issued and outstanding.

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TABLE OF CONTENTS

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CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

This Annual Report on Form 10-K and the documents incorporated by reference include “forward-looking statements.” To the extent that the information presented in this Annual Report on Form 10-K discusses financial projections, information or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These include, among others, the cautionary statements in the “Risk Factors” and “Management’s Discussion and Analysis and Results of Operations” sections of this Annual Report on Form 10-K.  These cautionary statements identify important factors that could cause actual results to differ materially from those described in the forward-looking statements. When considering forward-looking statements in this Annual Report, you should keep in mind the cautionary statements in the “Risk Factors” and “Management’s Discussion and Analysis and Results of Operations” sections below, and other sections of this Annual Report on Form 10-K.

The statements contained in this Annual Report on Form 10-K that are not purely historical are forward-looking statements, including, without limitation, statements regarding our expectations, objectives, anticipations, plans, hopes, beliefs, intentions or strategies regarding the future. All forward-looking statements included in this document are based on information available to us on the date hereof, and we assume no obligation to update any such forward-looking statements. It is important to note that our actual results could differ materially from those included in such forward-looking statements. There are many factors that could cause actual results to differ materially from the forward-looking statements. For a detailed explanation of such risks, please see the section entitled “Risk Factors” beginning on page 25 of this Annual Report on Form 10-K. Such risks, as well as such other risks and uncertainties as are detailed in our SEC reports and filings for a discussion of the factors that could cause actual results to differ materially from the forward- looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements.

The following discussion should be read in conjunction with the audited consolidated financial statements and the related notes to consolidated financial statements included elsewhere herein, and the section entitled “Management’s Discussion and Analysis and Results of Operations.”

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ITEM 1.   BUSINESS

History and Background

Global MobileTech, Inc., (formerly Trevenex Resources, Inc.) or GMT, our or we, was organized under the laws of the State of Nevada on December 10, 2007. GMT has focused on the provision of mobile Voice over Internet Protocol or VoIP communications and mobile advertising solutions and services since April 2010.  In July 2010, we expanded into the renewable energy business to include (i) the provision of consultancy services for the design and integration of solar photovoltaic (PV)-wind hybrid power generation applications (ii) the production of synthetic gas (“syngas”), bio-oil and biochar using biomass such as wood residues, and oil palm stems and fronds as feedstock; and (iii) the establishment and operation of syngas-to-electricity generation plants. Our entry into the renewable energy business was intended to develop additional recurring revenue streams to complement our mobile VoIP communications and mobile advertising business segment.

On March 15, 2010, we entered into a five-year exclusive Marketing, Distribution, and License Agreement (the “License Agreement I”) with VyseTECH Asia Sdn Bhd or VTA, a Malaysian corporation. The License Agreement I relates to our acquisition of the exclusive marketing rights for products developed by VTA and related Voice over Internet Protocol (VoIP) services for the express purpose of selling products and related VoIP services in North America. On March 14, 2011, GMT and VTA mutually agreed to cancel the License Agreement I for the express purpose of allowing GMT to sell the products and mobile VoIP calls and mobile advertising services in North America.  Following the cancellation of the License Agreement I, GMT decided not to pursue the mobile VoIP communications and mobile advertising business in North America. GMT will direct its efforts to the renewable energy business in the United States instead.  

On April 7, 2010, we formed a wholly owned Malaysia subsidiary, Info-Accent Sdn Bhd (“Info-Accent”) under the laws of Malaysia. Info-Accent was established to capitalize on business opportunities and the fast growing economies in China and countries in South East Asia such as Singapore, Vietnam, Thailand, Indonesia and Malaysia and to manage our business activities in Asia.

On April 8, 2010, Info-Accent entered into a five-year Exclusive Marketing, Distribution and License Agreement (the “License Agreement II”) with VTA pursuant to which VTA agreed to grant Info-Accent exclusive marketing, distribution and licensing rights for mobile VoIP communications and mobile advertising products and services developed by VTA in the countries of Malaysia, China, Hong Kong, India, Indonesia, Thailand, Vietnam, Cambodia, Philippines, Korea and Japan

VTA has developed and commercialized, primarily in Malaysia, patented proprietary technology for a number of applications that include mobile VoIP communications, mobile advertising and mobile multimedia sharing services. The acquisition of VTA’s license by Info-Accent on April 8, 2010, together with ongoing mobile VoIP communications and mobile advertising related contracts from VTA allowed Info-Accent to enter into the mobile VoIP communications and mobile advertising business to generate revenue immediately, without being exposed to any downside risks. On June 27, 2011, Sunway Technology Development Limited (“Sunway”), the holding company of VTA agreed with VTA to rescind the Assignment Agreement dated August 28, 2009 whereby Sunway had previously assigned all its rights, title and interest in and to the patent rights under patent # 8,005,057 to VTA.  Following the rescission, Sunway became the legal owner of the patent rights.

On June 27, 2011, Info-Accent Sdn Bhd entered into a Patent Purchase Agreement with Sunway to purchase the entire rights, title and interest in and to the patent rights under patent # 8,005,057 for a total consideration of $3.5 million. The acquisition of the patent enables us to commercialize the proprietary technology, further enhance the technology and develop new mobile applications that will allow us to license to third parties globally; and provide us with the security and the independence that we need to grow the company without being subjected to any form of control by a third party. Concurrent with the execution of the Patent Purchase Agreement, Info-Accent terminated the License Agreement II with VTA on June 27, 2011.

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The corporate structure of our company is summarized below.

Our Business

GMT, through its wholly owned subsidiary Info-Accent Sdn Bhd, engages in the development and commercialization of mobile VoIP communications and mobile advertising solutions, and since July 2010 GMT has been involved in the production and commercialization of biomass-to-biofuel-to-electricity based on our proprietary pyrolysis and gasification technologies. We have two operating segments:

1.

The first segment handles the development and commercialization of mobile Voice over Internet Protocol or VoIP communications and mobile advertising solutions.

2.

The second segment is involved in

(a)

the design, integration, marketing and sale of solar photovoltaic or PV-wind hybrid power generation applications; and

(b)

establishing and operating syngas/bio-oil/biochar production plants; and syngas-fired power plants.

Our Mobile VoIP Communications and Mobile Advertising Business

Following the grant of an exclusive Marketing, Distribution, and License Agreement (the “License Agreement II”) on April 8, 2010 by VTA and the acquisition of ongoing mobile VoIP communications and mobile advertising related contracts from VTA for Asia, our subsidiary, Info-Accent Sdn Bhd, began to generate revenues from its mobile VoIP communications and mobile advertising business in Malaysia beginning in April 2010.

We provide a proprietary platform which enables our customers to sell advertisement banners on the mobile phones of persons who have registered with them. Mobile phone users are incentivized to consent to receiving advertisement banners by a rewards program that allows mobile phone users to earn rewards points to make long distance and international calls and to send multimedia messages from their mobile phones. Our customers, whom we call channel partners and private label partners, are marketers/advertisers who we have select and train and to whom we grant an exclusive territory in which they will operate. Our customers pay us a fee to utilize our proprietary platform within their exclusive territory. We provide our customers with access to mobile advertising content via our proprietary platform, as well as multimedia content production services which our customers utilize to sell services to advertisers and advertising agencies and to disseminate to registered mobile phone users via the rewards program. We utilize some of that fee revenue to purchase VoIP call capacity from VTA, which we provide to our customers (the private label partners) to make available to registered mobile phone users.  

Our mobile VoIP communications and mobile advertising solutions are powered by our Ad Server which comprises the proprietary software driven Mobile VoIP Gateway (“MVG”) and the Mobile Multimedia Sharing Gateway (“MMSG”) that we have acquired from VTA.

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MVG

Our Mobile VoIP Gateway manages VoIP call traffic and transactions while the MMSG combines the disparate sources of content, new media and location services with the MVG to offer MobiREWARDS (described below), our free mobile VoIP calls and multimedia messaging program to members of MobiCAST (described below), a network of registered mobile phone users that we operate with our private label partner customers.

Our MVG enables mobile communication devices to communicate with each other using the internet protocol. The communication is made possible by linking a network of cell servers to the internet which are adapted for transmitting digital data (voice, text, graphics and video) over the internet. Multiple cell servers supporting a designated zone are linked by landline or wirelessly to the internet by channeling the digital data through a router switch and firewall. A zone is defined as a physical area within a city or state which one or multiple cells support registered users of our mobile VoIP calls solution.

For security reasons, we install multiple firewalls to protect our data from virus attacks and intrusion by hackers. The integrity of data we transmit is further enhanced by using the IMEI (International Mobile Equipment Identity) number of the mobile phone. If the IMEI number does not match the phone number that was previously registered, the message will not be transmitted. The IMEI is a unique 17 or 15 digit code assigned by manufacturers to identify each mobile phone they produce. The router switch is provided in the communication system to serve as a gateway of the data transmitted or traffic to and from the internet.  

MMSG

Our Mobile Multimedia Sharing Gateway is a carrier and mobile handset neutral solution designed to provide advertisers, advertisement agencies and content developers with seamless access to our mobile advertising ecosystem. Our MMSG has the ability to:

(i)

match content (voice, text, graphics and video), user comments and ads according to the tastes and context of mobile phone users.

(ii)

provide a navigation interface that allows users to share comments and ratings with friends.

(iii)

insure media compatibility across different makes of mobile phones and optimizes mobile media consumption through intelligent transcoding and caching algorithms.

(iv)

provide a comprehensive usage analytics reporting support monetization service with partners and continuous refinement of the service based upon usage patterns; and

(v)

insure seamless integration with the MobiREWARDS program that dispenses free mobile VoIP calls and microblogging credits to members of MobiCAST for viewing advertisements while microblogging on their mobile phone.

Private Label Partners/Customers

Info-Accent essentially derives revenue from its private label partners/customers for access and use of the Ad Servers and the MVG and MMSG software systems and the customers utilize that system to sell mobile advertising content and multimedia content production services to the advertisers (brand and enterprise owners) and to the advertising agencies who service the advertisers. The private label partners/customers also utilize the Ad Servers to incentivize their registered mobile users with free VoIP calls and multimedia content and in turn provide the advertisers with access to the registered mobile phone users for their advertisement banners and to attach advertising to multimedia content. Info-Accent provides a pool of contractors who produce continuous and flexible production and delivery of multimedia content to our private label partners.

We have ten customers or private label partners of which five were provided to Info- Accent by VTA under the license agreement. Except for one customer who is based in Hong Kong, all our customers are located in Malaysia.

Our private label partners (who are currently all Tier 1 channel partners) in Asia are an extension of our team, playing a key role in the go-to-market strategy and our future overall success. Our lead sharing, early product information and technical/sales training are among the many benefits of our program, designed to give our channel

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partners a distinct sales advantage.  

The channel partner program developed by VTA is open to any individual or company currently doing or wanting to do business with VTA under ongoing contracts we acquired from VTA. We offer three levels of partnership, described below, which are designed to recognize and reward our partners in the sale of our mobile advertising services.

We select potential partners who are already involved in the advertising industry and understand the concept of creating a social network to generate traffic or “eyeballs” for advertisement banners that would appear on a mobile phone screen together with messages they send or receive. Potential partners must also prove their credit worthiness and employ staffs who have been involved in organizing trivia, quizzes, contests and sales campaigns besides having a fully functional office. Once they have been selected, we will agree with them on a territory that they will cover on an exclusive basis if they meet our revenue and user base targets, and provide them with sales, marketing and technical support; and training for their staff.  Training as mentioned earlier has been undertaken by VTA.   

MobiCAST

MobiCAST is a free access location based mobile-Web social network and microblogging service, powered by our MVG and MMSG.  

No membership fee is levied on mobile phone users to join MobiCAST. MobiCAST is packaged with our MobiREWARDS program. Our MobiREWARDS program is explained below. To register as a member of MobiCAST, the user will be required to provide personal information that includes his/her name, address, mobile phone number, make and model of mobile phone, age group, areas of interest e.g. sports, cooking, gardening, etc., interest in joining a microblogging group and their unconditional permission to receive mobile advertisements from us or our channel/private label partners on their mobile phone.  

A new member will receive a starter pack that include a certain number of reward points, instructions on how they can earn additional points from our MobiREWARDS program and information on how to microblog with other community members. The number of reward points a member could earn will depend on his/her participation in marketing campaigns that we undertake with our channel/private label partners.  

Illustrated below is an example on how our MobiREWARDS program used by registered mobile phone users fits into our business model for mobile advertising.

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Our private label partners generate revenue from the two advertisement banners that appear on the screen of the sender and receiver’s mobile phones. They return part of the revenue generated to their registered mobile phone users in exchange for viewing advertisements on their mobile phones by awarding reward points. The reward points may be redeemed to make free long distance or international calls or send multimedia messages from their mobile phones.

The mobile phone users who are part of the MobiCAST and MobiREWARDS system enroll with our private label partners. The ten private label partners have collectively registered more than 450,000 users as of June 30, 2011.  We monitor registered mobile phone user traffic and the number of advertisements placed from our Ad Server.  

June 30, 2011

Number of advertisement banners placed per month

  5,308,168

Number of active registered mobile phone users who

send more than 300 messages per month

>   450,000

MobiREWARDS

Our MobiREWARDS program provides advertisers with an effective means to reach a large mobile audience with a targeted sales and marketing campaign. Our program is implemented in collaboration with advertisers, and private label partners that gives immediate and direct access to targeted MobiCAST members who are registered mobile phone users who have given their prior permission for our advertisements to be disseminated to their mobile phones.

We have built a business model that is mutually beneficial to all stakeholders including MobiCAST members who can exchange reward points to make long distance or international calls or send multimedia messages to their friends or other community members from their mobile phones.  In collaboration with our private label partners, we create activities for participation with reward points being used as an incentive to drive traffic to MobiCAST, increase the number of MobiCAST members and a motivation for our private label partners to promote specific campaigns, auctions, contests etc. to advertisers.  Apart from viewing advertisements MobiCAST members are also encouraged to earn additional reward points by participating in:

(i)

product/service surveys

(ii)

MobiCAST membership referral; and

(iii)

trivia, quizzes, contests and auctions.

The following discussion of our business model relates to the business undertaken by our Malaysian subsidiary, Info-Accent, since its acquisition of ongoing mobile VoIP communications and mobile advertising related contracts from VTA for the Asian market.

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A. Mobile VoIP Calls

Our private label partners give away free mobile VoIP calls to users who participate in the MobiREWARDS program. The cost of VoIP calls is defrayed against revenue received from private label partners who will distribute the calls to their customers participating in the MobiREWARDS program. We purchase the VoIP call capacity from VTA for the use of our private label partner customers.

Our solution does not require the receiver of the phone call to be a registered user of our platform. A contact list is stored for each registered user. When a communication request is received from a user to chat with one of the listed contacts using the reward points that he/she has previously earned from MobiREWARDS, the MVG will remotely verify the user’s mobile phone number, IMEI number, user identifier (ID) and password before connecting the call to the receiving party.

Our mobile VoIP solution has given us two advantages over our competitors, namely:

i)

it does not require our users to download any software onto their mobile phone to make VoIP calls; and

ii)

VoIP calls can be made from any basic mobile phone.

B.  Mobile Advertising/ Multimedia Content Production Services

Mobile advertising has replaced mass communications with direct brand-to-consumers relationship. Our proprietary mobile advertising solution unites brands, content providers, and mobile phone users generated by the MMSG in our Ad Server to create a marketplace for mainstream mobile media consumption.

In tandem with our mobile advertising solution, we also provide multimedia content production services to advertisers (brand and enterprise owners) who contract with our private label partner customers. We have developed a functioning supply chain that optimizes the process of multimedia content production with suppliers and contractors. Production takes place in collaboration with contractors who specialize in production of multimedia content. We hire a pool of multimedia content production contractors to insure continuous and flexible production and delivery of multimedia content for the use of our private label partner customers. Based on contracts we have secured, we define the scope of work for our contractors. Production takes place in accordance with a well-structured process that is supplemented with quality control through our online testing program.

We have built our business model for mobile advertising based on our belief in sharing our success with our stakeholders comprising of:

(a)  Advertisers

(b)  Mobile phone users (Consumers)

(c)  Mobile multimedia content publishers and developers

(d)  Advertising agencies; and

(e)  Channel partners and private label partners

Our business model is underpinned by the unique ability of our MMSG to send mobile advertisements to registered mobile phone users at the right place and the right time. Our mobile advertising application is targeted at advertisers in a broad spectrum that includes small retailers to supermarkets and brand owners seeking to promote their products and services to mobile phone users registered with MobiCAST.

a) Advertisers

We help advertisers who need our registered mobile phone users (consumers) to grow their business. We help the advertisers who are brand and enterprise owners to control their costs and build their brand or enterprise through our services that promote mobility, flexibility and provide information via the mobile phone.

We tap into mobile advertising by deploying offerings that create long-term loyalty among consumers and mobile community members and microbloggers by distributing timely personalized and localized marketing contents and messages in multimedia format.

We enable advertisers to target our registered mobile phone users and mobile in a very effective way.  Advertisers can achieve relevant targeting with a wide reach regardless of whether it is a basic mobile or smart phone. The Ad Server enables multimedia content to be exchanged between mobile phone users giving us the

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opportunity to reach registered mobile phone subscribers with relevant content at the right time and in the right location.

We help global and local brands engage with a new audience in a fresh way that is mutually beneficial to all our stakeholders – brand and enterprise owners, consumers, mobile multimedia content publishers and developers, advertising agencies; and channel partners and private label partners.

b) Mobile Phone Users (Consumers)

We pitch the products and services of advertisers in the form of mobile advertisements to mobile phone users who have registered with MobiCAST (consumers) and have given their permission to receive mobile advertisements from us or our channel partners or private label partners on their mobile phones. We target mobile phone user consumers in the 15 – 35 years age group who are primarily students and young working adults.

Registered mobile phone user consumers will have an opportunity to:

·

Earn reward points based on degree of participation in marketing campaigns organized by brand and enterprise owners

·

Exchange reward points for free mobile VoIP calls or free multimedia messaging; and

·

Have access to the right information at the right time to take advantage of supermarket or department store promotions or product launches.

c) Mobile Multimedia Content Publishers and Agencies

We help content providers who need channel partners and private label partners (marketers) to monetize their content. We offer a new way for advertising agencies and content publishers and developers to monetize their unsold content inventory. Content publishers will benefit from increased opportunities for monetization as well as the opportunity to promote their content through MobiCAST.

Our Ad Server seamlessly connects content publishers and developers to our private label partner customers, advertisers, and registered mobile phone users. Content publishers and developers will be able to optimize their advertising revenue with our Ad Server platform by adding new revenue streams through the sale of space or content and creating new advertisement spaces.  

Utilizing the VTA developed system, we enhance our private label partners’ coverage by supplementing their in-house sales team. We will attach advertisements to their multimedia content for dissemination to the profiled list of community members and microbloggers to be acquired from VTA. We replace technical hurdles and operational bottlenecks with a streamlined scalable process to monetize our private label partners’ multimedia content and open a path to greater profitability.

d) Advertising Agencies

We help advertising agencies who need us as the ad enabler to ensure that the ecosystem is well secured and operating efficiently. We provide the transparency and control to meet the unique demands of the mobile advertising business by providing advertising agencies:

·

Source and manage advertisements from in-house and third party sources in many major screen sizes using our Ad Server, within a single seamless environment.

·

Control their experience by defining fine-grained ad plans for ad placements, formats and frequencies to balance their revenue and view retention goals; and

·

Improve their business performance using powerful reporting tools that collate traffic data to analyze current and historical data as well as manage their relationships in the lucrative mobile advertising marketplace.

We enable planners and buyers to plan, build, buy and execute a mobile campaign within minutes as well

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as follow up campaign performance in real time.

Our Renewable Energy Business

During July 2010, we expanded our operations into the renewable energy business to include (i) the provision of consultancy services for the design and integration of solar PV-wind hybrid power generation applications (ii) the production of syngas, bio-oil and biochar using biomass such as wood residues, oil palm stems and fronds as feedstock; and (iii) the establishment and operation of syngas-to-electricity generation plants. Our entry into the renewable energy business was intended to develop additional recurring revenue streams to complement our mobile VoIP communications and mobile advertising business segment.

Solar Photovoltaic-Wind Hybrid Power Generation Applications

We help our customers to conceptualize, design and integrate solar photovoltaic (“PV”)-wind systems. The solar PV-wind systems that we design and build are based on the methodology for the optimal sizing of a solar PV-wind hybrid power generation system developed by our Chairman, Mohd. Aris Bernawi. The services we render include site assessment, site verification, power system modeling and analysis, engineering design, project management, progress inspection, installation and integration of the power generation system with solar PV to operate as a hybrid power generation system.

We derive revenues by helping our clients to:

·

identify projects and conducts feasibility studies on the proposed projects

·

conduct site assessment, site verification and progress inspection

·

design and integrate solar PV-wind hybrid power generation system to adapt and customize our solar PV-wind hybrid power generation system to local climatic and geographical conditions

·

project management services that include cost planning, tendering, negotiating and awarding of tenders, procurement, site superintendence and contract administration

·

integrate their control system to a central data collection system that can remotely monitor the operation of the plant and provide maintenance warnings; and

·

maintain their plant by providing computer aided maintenance management systems

On September 1, 2010, Info-Accent Sdn Bhd and our Chairman executed an Assignment Agreement whereby the Chairman assigned to Info Accent, exclusively throughout the world, all rights, title and interest in the methodology for the optimal sizing of a solar PV-wind hybrid power generation system. The methodology relates to finding the optimum configuration, among a set of system components, which meets the desired system reliability requirements with the lowest value of levelized cost of energy (“LCE”). The LCE is a procedure for determining and comparing the cost of producing energy using different solar panel and wind turbine technologies. The procedure takes into account the installed system price and associated costs such as financing, land, insurance, transmission, operation and maintenance, depreciation, carbon emission and efficiency of the solar panel and wind turbine used.

Two steps are involved in the optimal sizing procedure. The first step is to design a solar PV-wind hybrid model based on available local solar and wind data.  The second step is to optimize the sizing of a system according to the loss of power supply probability (“LPSP”) and the LCE concepts. The configuration: (i) which can meet the desired system reliability is obtained by changing the type and size of components that make up the system; and (ii) with the lowest LCE gives the optimal choice that places an important role in cost reduction as well as energy production.

We have utilized the optimal sizing procedure in the design and integration of our solar PV-wind hybrid power generation applications for:

1. Rural and remote island electrification

2. Powering remote radio base stations

3. Potable water production; and

4. Potable water production and organic vegetable cultivation

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We do not manufacture any of the components used for the power generation systems. The components are sourced from various suppliers. We typically solicit competitive proposals from various component manufacturers, evaluate the proposals and recommend to our customers’ components that meet with their system performance specifications.

Biomass-to-Biofuel-to-Electricity Production

Overview

Biomass is an organic material that includes plant matter from trees, grasses and agricultural crops. Biomass is environment friendly and can replace fossil fuels for thermal and electricity applications. Modern industrial bioenergy systems involve pyrolysis and gasification, the heating of biomass feedstock under controlled conditions to produce synthetic gas (syngas) and bio-oil that can be burnt to produce heat, power, or combined heat and power.

When biomass such as palm stems and fronds are gasified at 650^oC, it produces condensable and non-condensable gases. The non-condensable gas also known as syngas consists of carbon dioxide, carbon monoxide, hydrogen and hydrocarbons. When quenched or cooled, the condensable gas consisting of water, methanol, tar, phenol derivatives, furfural, acetic acid and other acids will form bio-oil. If the gas is not quenched, it can be combusted along with the non-condensable gas to drive gas turbines to generate electricity. Biochar, the third combustible product, is the solid charred and carbon-rich residue that can also be used as a biofuel or as a soil amendment to enhance crop growth and yield. Pyrolysis-gasification plant operating conditions can be adjusted to produce different levels of competing outputs (i.e. syngas, bio-oil or biochar).

Biomass pyrolysis and gasification are well-established technologies for the production of syngas, bio-oil and biochar. Gasification is primarily a thermo-chemical conversion of organic materials at an elevated temperature with partial oxidation. Biomass gasification, due to its high electrical efficiency compared to other biomass-based electricity generation systems, is emerging as a commercially viable technology.  

Our integrated pyrolysis-gasification system consists of a bubbling fluidized bed gasifier, a combined gas cleaner (including an inertial separator, a cyclone separator, Venturi tubes and water scrubbers), a power generation subsystem and a waste water treatment system. We appoint contractors who will purchase the components on our behalf from third parties and fabricate the equipment in accordance with our designs and engineering specifications.

Availability of Biomass Feedstock

There is an abundant supply of biomass as feedstock for conversion to electricity in countries within the South East Asian region that include Malaysia, Indonesia, Thailand, Vietnam and Philippines. Such biomass includes oil palm stems and fronds, rice husks, sugar cane bagasse, coconut husks and cassava. Malaysia, together with Indonesia, account for more than 85% of the global palm oil production. Thailand ranks second in the world production of cassava, fourth in the production of sugar cane and palm oil, and sixth in the production of rice and coconuts. (Source: Food and Agriculture Organization, 2009).

The palm oil industry generates almost 94% of the biomass feedstock in Malaysia, while agricultural and forestry by-products such as wood residues, rice and sugarcane contribute the remaining 6%. Oil palm trees are typically felled after the age of 25 years, either due to their decreasing yield or because they have grown too tall which makes harvesting very difficult. They are normally left to rot or are burnt in the field. Leaving the stems and fronds in the field without further processing will physically hinder the process of planting new crops as the stems and fronds can take about five years to decompose completely. The practice of disposing both the stems and fronds by burning is unacceptable as it creates air pollution and affects the environment. Large volumes of oil palm stems and fronds in Malaysia, Indonesia and Thailand are available annually due to replanting, the task of find ways to utilize this enormous amount of lignocellulosic material is great. The high moisture and silica content have hitherto prevented palm stems and fronds from being converted to biofuels.

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Appended below is a breakdown of oil palm biomass generated by the Malaysian palm oil industry in 2009.

                                                                                       (Source: Malaysian Palm Oil Board, 2009)

Current Status and Market for Renewable Energy in South East Asia

Over the last 50 years, while consumption of fossil fuels grew substantially, the world undertook a transition in its usage of fossil fuels, from solids (coal), to liquids (oil) to gases (natural gas). Increased fossil fuel prices and their possible depletion in the near future as well as the deterioration of our environment due to increased use of the same are major concerns of our time. Increased crude oil prices have compounded the problems of developing nations which are forced to subsidize gasoline prices to maintain retail gasoline prices at an affordable level. As a consequence, energy potential of renewable fuels and the technologies to harness them have become crucial for energy security.

Governments of the Association of South East Asian (“ASEAN”) countries comprising of Malaysia, Singapore, Indonesia, Thailand, Philippines, Myanmar, Brunei, Cambodia, Laos and Vietnam have taken cognizance of the dire consequences if the energy security issue is not addressed. On January 1, 1999, the ASEAN Center for Energy or ACE was established as an intergovernmental organization to act as a catalyst for the development of renewable energy. Core funding for ACE is provided by an Energy Endowment Fund established from equal contributions of the 10 member countries and managed by a private fund manager.

ASEAN Energy Outlook (2005 – 2030)

The final energy consumption by sector for the period 2005 to 2030 is summarized below.  

-

Final energy consumption is projected to grow from 2005 to 2030 with an average annual growth rate 3.9 percent (base case) and 4.9 percent (high case).  

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The transport sector consumption will grow the fastest during the period with annual growth projected at 5.1 percent driven by the increasing per capital income followed by the industrial sector consumption in the second place with annual growth projected at 4.6 percent.

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Other sectors which include residential, commercial and agricultural sectors will have an average annual growth of 2.4 percent and non-energy consumption will growth at an average rate of 2.9 percent per annum.

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Final Energy Consumption by Sector in the ASEAN member countries in

Million Tons of Oil Equivalent (“MTOE”)

                                                                                                                                                    (Source: ASEAN Center for Energy)

The final energy consumption by fuel type in the ASEAN member countries is summarized below.

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Electricity will grow the fastest at 6.1 percent per annum in view of the projected growth in industrial Gross Domestic Product (“GDP”). As a consequence, electricity share will increase 11.0 percent in 2005 to 18.2 percent by 2030.

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Coal will have the second highest growth rate of 5.9 percent per annum followed by natural gas at 5.0 percent per annum.

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Oil will have the fourth highest growth rate of 4.5 percent per annum and will remain as the most used fuel.  Its share to the total consumption mix will also increase from 44.4 percent in 2005 to 50.4 percent in 2030 driven by the rapid growth in consumption of the transport sector which is largely fuelled by oil products.

Final Energy Consumption by Fuel in the ASEAN member countries in MTOE

                                                                                                                                             (Source: ASEAN Center for Energy)

The implications of higher energy consumption are as follows:

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Primary energy consumption will increase significantly from 2.6 times in the Reference scenario to 3.3 times in the High scenario which will have a negative impact on the energy security and the environment.

-

Oil consumption in the region is also expected to increase from 194 MTOE in 2005 to 520 MTOE by 2030 in the Reference scenario and possibly to 639 MTOE in the High scenario. Being a net importer of oil, the region will be vulnerable to various supply disruptions in the oil market.

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-

Although the region is still a net exporter of natural gas, its fuel consumption is expected to increase from 91 MTOE in 2005 to 240 MTOE by 2030 in the Reference scenario and possibly to 307 MTOE in the High scenario. If current production levels in the region do not increase, the region will have to source out the additional demand from outside the region.

-

Coal consumption will also significantly increase from 56 MTOE in 2005 to 297 MTOE by 2030 in the Reference scenario and possibly to 405 MTOE in the High scenario. The higher coal consumption will have a corresponding increase in carbon dioxide emission which contributes to global warming.

The projected energy investment needs by sector in the ASEAN member countries for the period 2006 to 2020 are set forth below.

Energy Investment Needs by Sector 2006 – 2020 (Billion US$)

                                                                                                                              (Source:  ASEAN Center for Energy)

The installed renewable energy capacity in the ASEAN member countries as of 2008 is as follows:

                                                                                                                                                 (Source:  ASEAN Center for Energy)

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Set forth below is the status of the technical and theoretical potential renewable energy than can be generated by the top three leading ASEAN member countries.

                                                                                                                                                     (Source:  ASEAN Center for Energy)

Governmental Policies and Incentives for the Production of Renewable Energy in Malaysia

The Malaysian government has introduced various policies and programs to increase the generation of electricity from renewable resources.  The following are some of the policies and programs that have been established by the Malaysian government.

·

National Energy Policy under the 8th Malaysia Plan focuses on sustainable development of energy resources, greater utilization and adequate generating capacity of gas and renewable energy and supporting industries that produce energy related products and services

·

9th Malaysia Plan (2006 – 2010) sets intensification of efforts towards providing a more conducive environment to support renewable energy projects and by 2010, the target for electricity generation from renewable energy resources set at 300MW in Peninsular Malaysia and 50MW in Sabah, Malaysia

·

Renewable Energy as the Fifth Fuel Policy. Renewable energy is being targeted to be a significant contributor to the country's total electricity supply. With this objective in mind, greater efforts are being undertaken to encourage the utilization of renewable resources, such as biomass, biogas, solar and mini-hydro, for energy generation

·

Greenhouse Gas Mitigation Policy

·

Code of Practice on Energy Efficiency and Use of renewable energy for Non-Residential Buildings

·

Small Renewable Energy Power Program

Various incentives have been introduced to renewable energy producers that include a 10-year tax exemption, duty exemptions as well as rebates-payment, low-interest loans and loan guarantees and reduction of subsidies.

Companies undertaking generation of energy using biomass, hydropower (not exceeding 10 megawatts) and solar power that are renewable, sustainable and environmentally friendly are eligible for the following incentives:

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Renewable energy companies must implement their projects within one year from the date of approval by the Malaysian Industrial Development Authority (“MIDA”). With effect from September 8, 2007, other companies in the same group are eligible for the same incentives as above even though one company in the same group has been granted the incentive. Applications received by 31 December 2015 are eligible for this incentive. For the purpose of this incentive, 'biomass sources' refer to palm oil mill/estate waste, rice mill waste, sugar cane mill waste, timber/sawmill waste, paper recycling mill waste, municipal waste and biogas (from landfill, palm oil mill effluent (POME), animal waste and others), while energy forms refer to electricity, steam, chilled water, and heat.

In 2010, the government of Malaysia set aside RM1.5 billion (US$500 million) to establish the Green Technology Financing Scheme (“GTFS”) to improve the supply and utilization of green technology. Only new renewable energy projects are eligible for this scheme. These projects must be located in Malaysia, utilizing local and imported technology. The maximum financing for renewable energy power producers is RM50 million (US$16.6 million) with repayment over 15 years.

Our Competitive Advantages

We have the following competitive advantages:

(i)    Mobile VoIP Communications and Mobile Advertising

•

Unique combination of its core competency in integrating and monetizing its proprietary Mobile VoIP Gateway to build a global advertising and voice network for mobile phones.

•

Ability to sustain its competitive advantage by continuously developing existing and creating new low cost and robust resources in response to rapidly changing market conditions.

•

Ability to implement a complete turnkey platform that will not burden community members, brand owners, enterprise owners and channel partners with operational issues.

•

Ability to create a competitive and integrated service by rolling out a business model that combines our rewards program with the distribution of mobile advertisements. We have the unique capability of giving users the option of making “free but paid for” VoIP calls from their basic mobile or their smart phone.

(ii)   Renewable Energy

•

Possess proprietary technology in eliminating the incidence of oil palm stem chips clumping together due to the inherently high starch, sugar and moisture content

•

Possess proprietary technology in accelerating the drying process from more than 60% to less than 10% and reduction of the palm stem chips too less than 10mm diameter in a single pass

•

Possess proprietary technology in reducing ash-related problems that cause deposition, corrosion and erosion to equipment exposed to syngas and reducing ash-related problems that cause deposition, corrosion and erosion of equipment exposed to syngas

•

Possess proprietary technology in enhancing heating value of pure bio-oil from 22 MJ/kg to 24 MJ/kg.

•

Possess proprietary gasification technology of palm stems and fronds without volatilizing silica present in palm stems that causes glazing, a major problem that occurs when palm stems are subjected to high heat treatment.

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Competition in Our Mobile VoIP Communications and Mobile Advertising Business

We believe that the mobile communications industry which includes VoIP calls, advertising and mobile social microblogging services is constantly evolving. Digital in general encompasses more and more aspects like mobile phones, personal digital assistants or PDAs and other wireless communication devices. Internet and digital channels are the fastest growing media around the world.  Broadband is now readily available at a fairly inexpensive rate and the regulatory environment in China and Asia have also changed.

Our objective is to focus on providing integrated mobile VoIP communication and mobile advertising services within the new media advertising space. We believe that changes in technology and the growth in digital media present us with opportunities to compete against media agencies. These opportunities include pursuing new media possibilities that incorporate with relevant digital know-how. We believe that these changes represent a growth opportunity for companies that are able to acquire these new media skills.

There are currently a number of companies which provide various mobile advertising services but very few offer an integrated service similar to our mobile advertising in combination with mobile microblogging and free mobile VoIP calls. Microblogging is a form of multimedia blogging that allows users to send and receive brief text updates (limited to 140 characters per message) or micromedia such as photos, audio or video clips (up to five seconds of audio or video clips). A single entry could consist of a single sentence or fragment or an image or a brief five-second video. Its purpose is, however, similar to a traditional blog. Users microblog about particular topics that can range from the simple, such as “what one is doing at a given moment,” to the thematic such as sports, cars to business topics.

We believe that in the future, we may compete directly with mobile operators if they decide to focus in developing solutions similar to our MVG and MMSG and possibly face competition from major online businesses seeking to expand into the mobile advertising segment.

Mobile advertising is closely related to online or Internet advertising. Mobile advertising, however has a far greater reach than online advertising as there are 5.282 billion registered mobile phone users compared to 2.084 billion internet users worldwide (Source: International Telecommunication Union 2010). Our current and potential competitors include:

Our competitors may have product offerings or other business advantages that our customers may find compelling. Some of our competitors’ and our potential competitors’ advantages over us, either globally or in particular geographic locations, include the following:

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By taking this approach, we believe that the most effective barrier to entry against competition is to build efficient, stable, secure and user friendly solutions that assist our customers to significantly enhance their businesses.

Competition in Our Renewable Energy Business

We face competition from other biofuels-to-electricity and fossil fuel-to-electricity producers. Some of our current and potential competitors include:

Many of our competitors have substantially larger financial, research and development, personnel and marketing resources than we do. As a result, our competitors may be able to compete more aggressively than we could and sustain competition over a longer period of time.

According to data from Economics of Generation Technologies (Lockwood Green Consulting), coal has a production cost of 3.9 cents/kWh, natural gas 6.78 cents/kWh, oil 10.26 cents/kWh and biomass 5.0cents/kWh. However, natural gas, oil and coal prices are subject to market price swings and have increased recently due to surging demand from China.

We face market acceptance barriers that do not affect already established technologies. To date, our technology has gained limited market acceptance.

Government Regulations Related to Our Mobile VoIP Communications and Mobile Advertising Business

Laws and regulations that apply to Internet communications, commerce, and advertising are becoming more prevalent. These regulations could affect the costs of communicating on the websites and could adversely affect the demand for our advertising solutions or otherwise harm our business, results of operations and financial condition.

Malaysia

Malaysian Communications and Multimedia Commission Act (1998)

Our mobile advertising business in Malaysia is governed by Section 211 of the Malaysia Communications and Multimedia Act 1988 that provides: “No content applications service provider, or other person using a content applications services, shall provide content which is indecent, obscene, false, menacing, or offensive in character with intent to annoy, abuse, threaten or harass any person”.

The Malaysian Communications and Multimedia Commission (“MCMC”) was created pursuant to the Malaysian Communications and Multimedia Commission Act (1998) as a new regulator for the communications and multimedia industry in Malaysia. At the same time, the Communications and Multimedia Act (1998) (“CMA”) was passed, to fulfill the need to regulate an increasingly convergent communications and multimedia industry.

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The Act also provides a regulatory framework to accommodate the convergence of the telecommunications, broadcasting, and computing industries in Malaysia. The basic principles underlying the CMA are transparency, technology neutrality, flexibility, and transparency.

The powers and functions of MCMC are:

·

to advise the Malaysian Ministry of Information, Communication and Culture on all matters concerning the national policy objectives for communications and multimedia activities,

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to implement and enforce the provisions of the communications and multimedia laws,

·

to regulate all matters relating to communications and multimedia activities not provided for in the communications and multimedia laws,

·

to consider and recommend reforms to the communications and multimedia laws,

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to supervise and monitor communications and multimedia activities,

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to encourage and promote the development of the communications and multimedia industry,

·

to encourage and promote self-regulation in the communications and multimedia industry,

·

to promote and maintain the integrity of all persons licensed or otherwise authorized under the communications and multimedia industry,

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to render assistance in any form to, and to promote co-operation and co-ordination amongst, persons engaged in communications and multimedia activities; and

·

to carry out any function under any written law as may be prescribed by the Minister Information, Communication and Culture of with notification published in the Malaysian Government Gazette.

Advertising Standards Authority

The Advertising Standards Authority (ASA) was established in 1977 to provide independent scrutiny of the then newly created self-regulatory system set up by the industry. Its chief tasks are to promote and enforce high ethical standards in advertisements, to investigate complaints, to identify and resolve problems, to ensure that the system operates in the public interest and to act as a channel for communications with those who have an interest in advertising standards.

Malaysian Code of Advertising Practice

All practitioners of advertising are required to abide by the Malaysian Code of Advertising Practice. The Code contains principles describing the essence of good advertising.

·

All advertisements should be legal, decent, honest and truthful,

·

Advertisements must project the Malaysian culture and identity, reflect the multi-racial character of the population and advocate the philosophy of the National Principles of Malaysia.

·

Advertisements must not identify or typecast each particular racial group or sex with vocations, traditional values and backgrounds.

·

Advertisements must comply in every respect with the Law, common or statute.

·

All advertisements should be prepared with a sense of responsibility to consumers and to society.

·

All advertisements should conform to the principles of fair competition as generally accepted in business.

·

No advertisements shall bring advertising into disrepute or reduce confidence in advertising as a service to the industry and to the public.

·

Advertisements must be clearly distinguishable as such.

The Code contains general guidelines relevant to all advertisements as well as rules for specific sectors such as medicinal and related products and advertisements containing health claims, children and young people. The Code and the self-regulatory procedure that exists to administer it are designed to work within to complement existing regulations.

Hong Kong

On 6 January 2006, the Telecommunications Authority finalized the regulatory regime for VoIP services and created a new Services-Based Operator (“SBO”) License. With the introduction of the SBO License, services-

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based operators can now enter the Hong Kong market to offer local voice telephony services employing Internet Protocol (“IP”)-based technologies or other technologies.

The new SBO licensing regime encompasses the provision of public internal or external telecommunications services (whether or not the services are similar to conventional telephone services). This regime has the following main features:

-

All service providers of IP telephony services who use telecommunication equipment located within Hong Kong are required to obtain an SBO license. This licensing regime would not affect overseas IP telephony service providers who do not establish or maintain any telecommunication facilities in Hong Kong.

-

Amongst the SBO licensees, providers of IP telephony services which are very different from the conventional voice telephone services would be subject to a relatively lighter level of regulation (namely, General Conditions 1 to 15 and Special Conditions 1 to 13 of the SBO license). One example of such services is "Instant Messaging" for which Internet Protocol addresses are used to make and receive calls. Traditional telephone numbers are not assigned to customers for such services.

-

Providers of IP telephony services which are similar to conventional voice telephone services would be subject to a relatively higher level of regulation (i.e. additional Special Conditions 14 to 21 may apply depending on whether it is a Class 1 or Class 2 license - explained further below). Hong Kong telephone numbers are assigned to customers of such licensees. Customers can make and receive calls to and from customers of local traditional public switched telephone network (PSTN). These types of services are subject to either Class 1 or Class 2 SBO licenses, both of which require compliance with additional requirements contained in the specified conditions for the SBO services, including number portability, emergency call services and backup power supply etc.

The scope of services of the SBO License is essentially similar to the scope of service of fixed telecommunications network services (“FTNS”) or fixed carrier (“FC”) licenses; the only difference is that an SBO licensee does not have any facilities-based rights. Consequently, a SBO licensee may provide local IP telephony services as well as external telecommunication services (ETS) and international value-added network services (IVANS). Current holders of FTNS or FC license can provide VoIP licenses without the need to apply for an SBO license.

The applicant for an SBO license should be a company incorporated in Hong Kong. There are no foreign ownership restrictions. If the applicant is a company incorporated overseas, it may still apply provided that it has registered in Hong Kong as an overseas company.

People’s Republic of China

Although we are not subject to People’s Republic of China (“PRC”) laws at this time, it will apply to us when we implement our mobile VoIP and mobile advertising services in the PRC.

The provision of VoIP calls are regulated by the Ministry of Information Industry (“MII”). The PRC government considers VoIP calls and services to be a serious threat to the state owned telecommunication carriers, China Telecom and China Unicom and have put in place a stringent regulatory regime to limit the ability of any individuals or entities to provide VoIP calls and services. Article 7 of the Regulation on Telecommunications of the PRC (the “Telecom Regulations”) provides that no one can provide telecommunication services without first obtaining a license from a local telecommunications administration or the information industry authority of the State Council or MII. The Administrative Measures for Telecommunications Business Operating Licenses further provide that there are two types of telecommunications operating licenses for telecommunication service providers in PRC (including foreign-invested telecommunications enterprises), namely, licenses for infrastructure telecommunication services and licenses for value-added telecommunication services.

Consumer Protection and Privacy Rights

We do not facilitate the delivery of spam messages to mobile phone subscribers. Prior to the delivery of a multimedia message we ensure that there is an existing relationship between us, the private label partner and the registered mobile phone user to whom the message is being delivered, in which the registered mobile phone user has agreed to receive advertising messages. We believe that a mobile phone is a personal communications device and that it should not be abused.

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We collect personally identifiable information from registered mobile phone users with their permission. The registered mobile phone user provides this permission by opting into one of our programs. We store personally identifiable information securely and do not use the data without the explicit, knowing permission of the registered mobile phone user which is gained at the time we collect the data.

Our future private label partners retain the right to use data they have obtained through explicit permission from a registered mobile phone user; for example, if a registered mobile phone user provides an email address to receive information and updates. We rely on our registered mobile phone users’ consumer privacy policies and practices, as well as the consumer privacy policies and practices of the publisher websites included in each advertising campaign. If our future private label partners provide databases of their registered mobile phone users, we will use this data on behalf of those registered mobile phone users, again pursuant to their consumer privacy policies. We rely on our private label partners to collect and maintain such data with the appropriate precaution and responsibility as stated in their privacy policies. The premise is that both the Company and our private label partners (1) have an opt-in relationship with the registered mobile phone users, (2) have an opportunity to share their consumer privacy policies with their registered mobile phone users, and (3) provide an opportunity to opt-out.

We collect certain technical data (such as type of browser, operating system, domain type, date and time of viewer’s response) when serving Internet advertisements. This type of information is defined by the Network Advertising Initiative as non-personally identifiable information. In addition, we use non-personally identifiable information that we receive from websites, pursuant to their consumer privacy policies, about their visitors’ general demographics and interests in order to target appropriate advertising to the websites.

We use “cookies,” among other techniques, to measure and report non-personally identifiable information to advertisers, such as the number of people who see their advertisements or emails and the number of times people see the advertisement. A cookie is a small file that is stored in a web user’s hard drive. Cookies cannot read information from the web user’s hard drive; rather they allow websites and advertisers to track advertising effectiveness and to ensure that viewers do not receive the same advertisements repeatedly. Cookies, by themselves, cannot be used to identify any user if the user does not provide any personally identifiable information. They can be used, however, to record user preferences in order to allow personalization features such as stock portfolio tracking and targeted news stories.

Government Regulations Related to Our Renewable Energy Business in Malaysia

We are subject to extensive federal, state and local environmental, health and safety laws, regulations and permit conditions. A violation of these laws, regulations or permit conditions can result in substantial fines and penalties, suspension or revocation of necessary permits and licenses limiting our current or future operations.    

Renewable Energy Act 2010

In April 2011, the Malaysian cabinet had passed the Renewable Energy Act 2010 which is aimed at increasing the generation of electricity from renewable sources of energy from less than 1% of total output in 2009 to 5.5% in 2015. Under the bill, the Government would offer competitive rates to buy power generated by individuals and companies in efforts to encourage them to invest in renewable energy projects. Renewable sources of energy eligible for the tariff system are solar photovoltaic, biogas, biomass, mini hydro, and solid waste. Basically the system will allow producers and users alike to sell excess power to the national power grid. In other words it is a mechanism which will allow electricity produced from local renewable energy resources to be sold to power utilities at a fixed premium price for a specific duration.

The Feed-in Tariff (“FiT”) program which forms part of the Renewable Energy Act 2010, is managed by the Sustainable Energy Development Authority (“SEDA”). The FiT program is expected to come into force in the fourth quarter of 2011. Electricity produced from indigenous renewable energy resources will be sold to power utility companies at a fixed premium price for a duration of 16 years.

Environmental Regulations (Clean Air Act) 1978

Industries are required to comply with both air emission and effluent discharge standards which are regarded as acceptable conditions allowed in Malaysia as stipulated in the Environmental Regulations (Clean Air Act) 1978 and the Environmental Quality (Sewage and Industrial Effluents) Regulations 1979. Open burning is banned under the Environmental Quality Act of Malaysia 1974.

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National Forestry (Amendment) Act 2010

National Forestry (Amendment) Act 2010 emphasize on transferring the burden of producing evidence from the prosecutors to those in possession of illegal logs. This Act will ensure that the forestry sector can progress in line with challenges and issues covering illegal logging and that forest conservation and preservation activities will be more effective. The penalty for illegal logging is RM1mil and the jail term is between five and 20 years under this Act.

The overall goal of this policy is to ensure that Malaysia protect its natural resources, soil erosion due to over-logging and the deterioration of water quality as one of the leading exporter of sawn logs and timbers in the world.

Plant Quarantine Act 1976 and the Plant Quarantine Regulation 1981

The Crop Protection and Plant Quarantine Division of the Department of Agriculture (DOA), Malaysia has enforced the Plant Quarantine Act 1976 and the Plant Quarantine Regulation 1981. The Plant Quarantine Regulation 1981 has stipulated the requirements for the importation of plants, plant products, growing media or rooting compost, beneficial organisms, plant pests and carrier of plant pests. The import of plants and plant products under the Plant Quarantine Act 1976 include wood (wood mulch, back chip, fuel wood, rubberwood and logs).

Compliance with Environmental Laws

Our first commercial biofuel and power generation project in Malaysia is designed to generate 10MW. The proposed project does not require us to conduct an Environmental Impact Assessment (“EIA”) as the generating capacity is below the 15MW threshold that would require an EIA to be conducted. Although our pyrolysis-gasification process does not emit or discharge any toxic gases, liquid effluent or solid wastes, the project must comply with prevailing environmental regulations of the country.

Intellectual Property

We protect our intellectual property such as trademarks, patents, product designs and manufacturing processes through patent and trademark registrations and the maintenance of trade secrets. We maintain stringent procedures to main the secrecy of our confidential business information. These procedures include the establishment of “need to know” criteria for the dissemination of certain proprietary information and the execution of Trade Secret Agreements with our employees, and written confidentiality agreements in cases where the sharing of proprietary information with third parties is necessary.

As of June 30, 2011, we own an U.S. patent # 8,005,057 entitled “DATA COMMUNICATIONS BETWEEN SHORT-RANGE ENABLED WIRELESS DEVICES OVER NETWORKS AND PROXIMITY MARKETING TO SUCH DEVICES” which we purchased from Sunway Technology Development Limited. The patent will expire on June 30, 2028. We consider the patent to be an important aspect of our mobile VoIP communications and mobile advertising business.  

Research and Development

We are constantly researching and developing innovative ways to improve our productivity, increase efficiency and our revenues. During our fiscal year ended June 30, 2011 and 2010, we had expended $874,676 and $153,832, respectively on our research and development activities. Our development activities for solar PV-wind system are generally conducted in connection with specific contracts and we are compensated for its development efforts. We have used our experience in developing best practices and differentiating know-how in the production of biofuels and syngas-to-electricity generation. For example, we have developed proprietary methods to eliminate the incidence of oil palm chips clumping together, accelerate the drying process from more than 60% to less than 10% moisture, reduce ash related problems that causes deposition, corrosion and erosion to equipment exposed to syngas, enhance heating value of bio-oil from 22MJ/kg to 24MJ/kg; and preventing the volatilization of silica present in palm stems that causes glazing to a boiler’s combustion chamber when palm stems are subjected to high heat treatment.

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Employees and Employment Agreements

At present, we have do not have any employees in the U.S. Our wholly owned Malaysian subsidiary, Info-Accent, has three employees, including our Chief Executive Officer, Aik Fun Chong, our Treasurer and Chief Financial Officer, Hon Kit Wong; and our Assistant Finance Manager, Siew Hong Lua. Mr. Chong and Mr. Wong have similar officer positions at Global MobileTech. Our CEO and CFO are paid by Info-Accent under the terms of employee contracts pursuant to which they also render services to our company, Global MobileTech. None of our officers or directors has an employment agreement with us. An additional seven workers at Info-Accent are paid on a contract basis. Our policy to keep key personnel on payroll while technical, marketing and administrative personnel are outsourced to third parties.

ITEM 1A.  RISK FACTORS

Our operations and securities are subject to a number of risks. We have identified and discussed the material risks that we are likely to face.  Should any of the following risks occur, they will adversely affect our operations, business, financial condition and/or operating results as well as the future trading price and/or the value of our securities.

RISKS RELATED TO OUR COMPANY AND OUR BUSINESS

We will need additional financing for the operation of our renewable business in Asia and failure to raise the capital may delay implementation of renewable energy projects.

The additional financing is required in addition to our internally generated funds. We will continuously evaluate our financing requirements and may decide to consider alternative modes of financing that may include raising additional funds from equity or debt financing. Our future capital uses and requirements depend on numerous forward-looking factors. These factors include but are not limited to the following:

No assurances can be given that we will be able to raise such equity or debt capital in the future on terms favorable to us, or at all.  The lack of availability of additional capital could cause us to curtail our operations and/or delay or prevent the launch and marketing of our biofuel production and syngas-to-electricity generation business.

We do not have extensive experience in raising equity or debt capital and therefore it may be difficult for us to raise the funds that we need especially in the current global economic situation.

As of June 30, 2011, we have raised an aggregate of approximately $441,251 in equity capital, and $18,000 in debt capital since our inception in December 2007. While our shares of common stock have been quoted on the OTC Bulletin Board since April 2009, our common stock  has not been actively traded. In addition, given the global economic crisis and given the uncertainty as to whether there will be a significant economic recovery, it is currently very difficult to raise equity or debt capital for a company, which does not have extensive experience in raising capital and does not have any public trading in its shares of common stock.

Instability in the credit market could have a material adverse effect on our results of operations and financial condition.

If we require debt financing, and such debt financing is not available, or is not available on terms and conditions acceptable to us, we may not be able to borrow money to finance our operations. Recently, domestic and international financial markets have experienced unusual volatility and uncertainty. If we require such debt financing and this volatility and uncertainty persists, our ability to borrow money to finance such operations may be materially and adversely impacted, and the cost of such borrowing will be higher. In addition, we may find it difficult, costly or impossible to refinance any indebtedness that may be maturing. If interest rates are higher when

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any debt we may have is refinanced, we may not be able to continue to finance our operations and our income could be reduced. In addition, if we pay fees to lock-in a favorable interest rate, falling interest rates or other factors could require us to forfeit these fees. All of these events would have a material adverse effect on our results of operations and financial condition.

We need to manage growth in operations to maximize our potential growth and achieve our expected revenues and our failure to manage growth will cause disruption of our operating resulting in the failure to generate revenue.

In order to maximize potential growth in our current and potential markets, we believe that we must expand our sales and marketing operations in the mobile VoIP and mobile advertising; and renewable energy industries in Asia. Our expansion will place a significant strain on our management and our operational, accounting, and information systems. We expect that we will need to continue to improve our financial controls, operating procedures, and management information systems. We will also need to effectively recruit, train, motivate, and manage our employees. Our failure to manage our growth could disrupt our operations and ultimately prevent us from generating the revenues we expect.

Our operating results may fluctuate significantly as a result of a variety of factors, many of which are outside of our control.

We are subject to the following factors, among others, that may negatively affect our operating results:

As a result of our limited operating history and the uncertain nature of the markets in which we compete, it is difficult for us to forecast our revenues or earnings accurately. We have based our current and future expense levels largely on our plans and estimates of future events, although certain of our expense levels are, to a large extent, fixed. We may be unable to adjust spending in a timely manner to compensate for any unexpected revenue shortfall.  Accordingly, any significant shortfall in revenues relative to our planned expenditures would have an immediate adverse effect on our business, results of operations and financial condition. Further, as a strategic response to changes in the competitive environment, we may from time to time make certain pricing, service or marketing decisions that could have a material and adverse effect on our business, results of operations and financial condition.  Due to the foregoing factors, our revenues and operating results are difficult to forecast.

Our renewable energy business requires numerous permits and other governmental approvals from various federal, state, local and foreign governmental agencies; any failure to obtain or maintain required permits or approvals could cause our sales to decline and/or our costs to increase.

All of our planned development projects in Asia require numerous permits, approvals and certificates from federal, state, local and foreign governmental agencies. Once received, approvals may be subject to litigation, and projects may be delayed or approvals reversed in litigation. If there is a delay in obtaining any required regulatory approvals or if we fail to obtain or maintain any required approvals or to comply with any applicable laws or regulations, we may not be able to operate our facilities, or the Company may be forced to incur additional costs.  

Our renewable energy business has significant environmental compliance costs, and future environmental compliance costs could adversely affect our profitability.

We are subject to extensive federal, state, local and foreign statutes, rules and regulations relating to environmental protection. We are required to obtain numerous governmental permits, licenses and other approvals to construct and operate our business. Additionally, to comply with these legal requirements, we must spend

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significant sums on environmental monitoring, pollution control equipment, mitigation costs and emissions fees. In addition, we are generally responsible for all on-site liabilities associated with the environmental condition of our energy projects, regardless of when the liabilities arose and whether they are known or unknown. If we fail to comply with applicable environmental laws, we may be subject to penalties, fines and/or curtailments of our operations.

Our inability to obtain adequate supplies of feedstock at an acceptable price and quality could affect our business and future operating results.

We rely on the supply of biomass resources which will seriously impact our business and operations if we experience a price increase, poor quality and shortage of such raw material. Should these resources be affected by weather, governmental restraints, and other conditions, we might experience a shortage of raw material which would hinder our business.

Construction activities may cost more and take longer than we estimate.

The design and construction of new projects or expansion requires us to contract for services from engineering and construction firms, and make substantial purchases of equipment such as pyrolysers and gasifiers;  and other components that require large quantities of steel to fabricate. Worldwide demand for new infrastructure spending, including energy generating plants continues to increase, and prices for building materials such as steel may also rise sharply. In addition, this increased demand affects not only the cost of obtaining the services necessary to design and construct these plants, but also the availability of quality firms to perform the services. These conditions may adversely affect our ability to successfully compete for new projects, or construct and complete such projects on time and within budget.

The nature of our projects exposes us to potential professional liability, product liability, warranty and other claims, which may reduce our profits.

We perform services in power plants where accidents or system failures can have significant consequences. Any such accident or failure at a site could result in significant professional liability, product liability, warranty and other claims against us. Further, the engineering and construction projects we perform will expose us to additional risks including, but not limited to, equipment failures, personal injuries, property damage, unforeseen engineering, architectural, environmental problems, each of which could significantly impact our performance and materially impact our financial statements.

Law enforcement of environment and energy policy regulations may adversely affect demand for renewable alternative energy sources such as those provided by the conversion of woody biomass.

Our success will depend in part on effective enforcement of existing environmental and energy policy regulations. Many of our potential customers are unlikely to switch from the use of conventional fossil fuels unless compliance with applicable regulatory requirements leads, directly or indirectly, to the use of environmentally friendly alternatives. Both additional regulations and enforcement of such regulatory provisions are likely to be vigorously opposed by the entities affected by such requirements. If existing emissions-reducing standards are weakened, or if governments are not active and effective in enforcing such standards, our business and results of operations could be adversely affected. Even if the current trend toward more stringent emission standards continues, we will depend on the ability of biomass alternative energy to satisfy these emissions standards more efficiently than other alternative technologies. Certain standards imposed by regulatory programs may limit or preclude the use of our products to comply with environmental or energy requirements. Any decrease in the emission standards or the failure to enforce existing emission standards and other regulations could result in a reduced demand for our products. A significant decrease in the demand will reduce the price of our products, adversely affect our profitability and decrease the value of your stock.

We may not be able to deliver our renewable energy projects timely which could cause us to lose sales and could harm our reputation.

We may not be able to deliver our renewable energy projects timely. Project delays and interruptions can occur for many reasons, including, but not limited to:

·

the failure of a supplier to deliver needed components on a timely basis or of acceptable quality;

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·

equipment failures;

·

shortage of skilled labor; or

·

transportation disruptions.

If we fail to deliver our renewable energy projects timely, our reputation may be harmed, we may jeopardize existing orders and lose potential future sales.

We are dependent on third parties for supplying key components in our renewable energy project and delays by third parties may cause delays and increased costs to us.

We rely upon third parties for supplying key components in our renewable energy project.   There are limited sources of supply for some key components for our renewable energy projects. Business disruptions, financial difficulties of the suppliers of these components, or raw material shortages could increase our costs, reduce the availability of these components or delay our delivery of renewable energy projects. If we are unable to obtain a sufficient supply of required components, we could experience significant delays in our project, which could result in the loss of orders and customers. If the cost of components increase, we may not be able to pass on price increases to our customers if we are to remain competitively priced. This would reduce profit.

Failure to hire or retain qualified engineers and professional personnel could hurt our business.

Our future success and performance are dependent on our ability to identify, hire, train and retain qualified and experienced engineers and other professional personnel. We face significant competition for employees with the skills required for our business. There can be no assurance that we will succeed in attracting and retaining the services of qualified and experienced technical and marketing personnel.  Any inability in attracting and retaining such personnel could have materially adverse effects on our results of operations and financial condition.

Our success substantially depends on the performance of our management team, project development team and technology group. The loss of key individuals within these groups would disrupt our business operations.

The successful implementation of our business plan is substantially dependent upon the contributions of our management team, project development team and technology group. Our ability to design, finance, construct, startup and operate plants is highly reliant on the knowledge and skills of these key personnel. Moreover, we rely on these personnel to conduct research and development of our processes, products, markets and costs, and the loss of such personnel would harm our ability to successfully compete. As a result, unexpected loss of the services of key employees could have a material adverse effect on our business, operating results, financial condition, cash flows and prospects.

We depend on strategic relationships with feedstock suppliers, construction contractors, site owners and engineering companies. If we are not successful in entering into and achieving the benefits of these relationships, this could negatively impact our business.

Our ability to identify and enter into commercial arrangements with feedstock suppliers, construction contractors, engineering service companies, site owners, engineering companies will depend on developing and maintaining close working relationships with industry participants. Our success in this area will also depend on our ability to select and evaluate suitable partners, as well as to consummate transactions in a highly competitive environment. These relationships may take the form of joint ventures with other private parties or local government bodies, contractual arrangements with other companies, including those that supply feedstock that we will use in our business, or minority investments from third parties. There can be no assurances that we will be able to establish these strategic relationships, or, if established, that the relationships will be maintained. In addition, the dynamics of our relationships with strategic participants may require us to incur expenses or undertake activities we would not otherwise be inclined to incur or undertake in order to fulfill our obligations to these partners or maintain these relationships. If we do not successfully establish or maintain strategic relationships, our business may be negatively affected.

The international nature of our operations exposes us to special risks.

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We currently intend to continue to operate within Asia. There are special risks related to doing business in Asia and other non-U.S. markets many of which are beyond the company's control, including, but not limited to:

·

unanticipated changes in tariffs, customs, duties and other trade barriers;

·

political and economic risks;

·

translation and transaction exposure from fluctuations in exchange rates of other currencies; and

·

potentially adverse tax and cash flow consequences resulting from operating in multiple countries with different laws and regulations.

We cannot assure you that our organic growth strategy will be successful which may result in a negative impact on our growth, financial condition, and results of operations and cash flow.

One of our strategies is to focus on mobile advertisements targeted at middle and lower income earners; and students. However, many obstacles to entering such new markets exist, including, but not limited to, development costs, costs associated with marketing efforts and maintaining attractive foreign exchange ratios. We cannot, therefore, assure you that we will be able to successfully overcome such obstacles and establish our products in any additional markets. Our inability to implement this organic growth strategy successfully may have a negative impact on our growth, future financial condition, and results of operations or cash flows.

If we are unable to successfully implement our business plan, our financial condition would be impaired.

If we are unable to successfully implement our business plan, our financial condition and performance would be impaired. Our business plan and strategy include numerous elements that may be difficult or costly to execute, and we may not be successful in implementing these elements and can provide no assurance that it will do so. We seek to exploit technology that often does not have well-established markets and in which there is great competition. Our ability to develop the new businesses, including our mobile VoIP communication and mobile advertising services in Asia is unproven. Even if we successfully implement our business plans, there may be insufficient demand for our products and services, in which event we will not generate sufficient revenues to offset our planned expenditures, thereby having an adverse effect on our business operations and financial condition.

We may incur significant costs to ensure compliance with the corporate governance and accounting requirements of the United States of America.

We may incur significant costs associated with our public company reporting requirements, costs associated with newly applicable corporate governance requirements, including requirements under the Sarbanes-Oxley Act of 2002 and other rules implemented by the Securities and Exchange Commission. We expect all of these applicable rules and regulations to significantly increase our legal and financial compliance costs and to make some activities more time consuming and costly. We also expect that these applicable rules and regulations may make it more difficult and more expensive for us to obtain director and officer liability insurance and we may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. As a result, it may be more difficult for us to attract and retain qualified individuals to serve on our Board of Directors or as executive officers. We are currently evaluating and monitoring developments with respect to these newly applicable rules and we cannot predict or estimate the amount of additional costs we may incur or the timing of such costs.

We may never pay any dividends to shareholders.

We have not declared any cash dividends to our common stock and the Board of Directors does not expect to declare or distribute dividends for the foreseeable future. The declaration, payment and amount of any future dividends will be made at the discretion of the Board of Directors, and will depend upon, among other things, the result of our operations, cash flows and financial condition, operating and capital requirement, and other factors as the Board of Directors considers relevant. We intend to retain earnings, if any, as necessary to finance the operation and expansion of our business. There is no assurance that future dividends will be paid, and, if dividends are paid, there is no assurance with respect to the amount of any such dividend.

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RISKS RELATED TO OUR COMMON STOCK

Currently, there is no active trading market for our securities on the OTC Bulletin Board, and there can be no assurances that any public market will ever develop and, even if quoted, it is subject to significant price fluctuations.

We have a trading symbol for our common stock, GLMB, which permits our shares to be quoted on the Over-the-Counter Bulletin Board (“OTC Bulletin Board”). However, our stock has yet to be actively traded since approval of our quotation on the over-the-counter bulletin board by Financial Industry Regulatory Authority (“FINRA”) on April 15, 2009. Consequently, there can be no assurances as to whether:

In addition, our common stock is unlikely to be followed by any market analysts, and there may be few institutions acting as market makers for our common stock. Either of these factors could adversely affect the liquidity and trading price of our common stock. Until our common stock is fully distributed and an orderly market develops in our common stock, if ever, the price at which it trades is likely to fluctuate significantly. Prices for our common stock will be determined in the marketplace and may be influenced by many factors, including the depth and liquidity of the market for shares of our common stock, developments affecting our business, including the impact of the factors referred to elsewhere in these risk factors, investor perception of us and general economic and market conditions.  No assurances can be given that an orderly or liquid market will ever develop for the shares of our common stock.

If we complete a financing through the sale of additional shares of our common stock in the future, then our shareholders will experience dilution.

The most likely source of future financing presently available to us is through the sale of shares of our common stock. Any sale of common stock will result in dilution of equity ownership to existing shareholders. This means that if we sell shares of our common stock, more shares will be outstanding and each existing shareholder will own a smaller percentage of the shares then outstanding. To raise additional capital we may have to issue additional shares, which may substantially dilute the interests of existing shareholders. Alternatively, we may have to borrow large sums, and assume debt obligations that require us to make substantial interest and capital payments.

Volatility in the market for our common stock may affect the ability of shareholders to sell their shares

Volatility in the market for our common stock may affect the ability of shareholders to sell their shares in the event the shares are registered or become saleable under Rule 144. The market for our stock is limited and our stock price may be volatile. In the event the shares are registered with the Securities and Exchange Commission pursuant to the 1933 Act, or they becomes saleable under Rule 144 of the 1933 Act, such volatility in the market price and tradability of our stock may cause our stockholders difficulty in selling their shares in the marketplace.

Your ownership could be diluted by future issuance of our stock, options, warrants or other securities.

Your ownership in Global MobileTech may be diluted by future issuance of capital stock or the exercise of outstanding or to be issued options, warrants or convertible notes to purchase capital stock.  In particular, we may sell securities in the future in order to finance operations, expansions or particular projects or expenditures.

The application of the “penny stock” rules could adversely affect the market price of our common stock and increase your transaction costs to sell those shares.

When the trading price of a security is below $5.00 per share as is the case with our common stock, the open-market trading of the security is subject to the “penny stock” rules. The “penny stock” rules impose additional sales practice requirements on broker-dealers who sell securities to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000 or annual income exceeding $200,000

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or $300,000 together with their spouse). For transactions covered by these rules, the broker-dealer must make a special suitability determination for the purchase of securities and have received the purchaser’s written consent to the transaction before the purchase. Additionally, for any transaction involving a penny stock, unless exempt, the broker-dealer must deliver, before the transaction, a disclosure schedule prescribed by the SEC relating to the penny stock market. The broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered representative and current quotations for the securities. Finally, monthly statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks. Consequently, the "penny stock" rules may restrict the ability of broker-dealers to sell our common stock and may affect the ability of investors to sell their common stock in the secondary market.

The market for “Penny Stock” has experienced numerous fraud and abuses, which could adversely impact investors in our stock.

We believe that the market for penny stocks has suffered from patterns of fraud and abuse. Such patterns include:

We believe that many of these abuses have occurred with respect to the promotion of low price stock companies that lacked experienced management, adequate financial resources, an adequate business plan and/or marketable and successful business or product.

We have authorized, but unissued, shares of preferred stock available for issuance, which could negatively affect the value of our common stock.

Our Articles of Incorporation had authorized 10,000,000 preferred stock at par value of $0.001 per share, of which none have been designated or issued. Our Board of Directors has the power to issue any or all of these undesignated additional shares without shareholder approval; and such shares can be issued with such rights, preferences, and limitations as may be determined by our Board of Directors. The rights of the holders of common stock will be subject to, and may be adversely affected by, the rights of any holders of preferred stock that may be issued in the future. Authorized and unissued preferred stock could delay, discourage, hinder or preclude an unsolicited acquisition of us, could make it less likely that shareholders receive a premium for their shares as a result of any such attempt, and could adversely affect the market prices of, and the voting and other rights, of the holders of outstanding shares of common stock.

If an active trading market for our stock is developed, future sales of shares under Rule 144 could negatively affect the market price of our common stock.

Certain of the outstanding shares of our common stock are “restricted securities” under Rule 144 of the Securities Act, and (except for shares purchased by our “affiliates” as such term is defined in Rule 144) would be eligible for sale as the applicable holding periods expire. Rule 144 provides, in essence, that a person holding restricted securities for six months from the date the securities were purchased from the issuer, or an affiliate of the issuer, and fully paid, may sell limited quantities of the securities to the public without registration, provided there shall be certain public information with respect to the issuer. Pursuant to Rule 144, securities held by non-affiliates for more than one year may generally be sold without reference to the current public information or broker transaction requirements, or the volume limitations. The sale of some or all of the currently restricted shares of common stock could have a material negative impact upon the market price of the shares if a market for the share should develop in the future.

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ITEM 1B.  UNRESOLVED STAFF COMMENTS

None

ITEM 2.   PROPERTIES

Our principal executive offices are located at A-1-5 Block A Jaya One, 72A Jalan Universiti, 46200 Petaling Jaya, Selangor, Malaysia. This office space is leased from an unaffiliated party at $3,241 per month. This lease expires on July 31, 2014.

We maintain our corporate office at 1312 North Monroe, Suite 750, Spokane WA 99201. This office space is leased from an unaffiliated party at $50 per month on a month-to-month lease.

We believe that our existing facilities are adequate for our current requirements and that suitable additional space will be available as needed to accommodate future expansion of our operations.

ITEM 3.   LEGAL PROCEEDINGS

We are not a party to any pending or, to our knowledge, threatened legal proceedings.

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PART II

ITEM 5.  MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

Our common stock is quoted on the OTC Bulletin Board under the symbol “GLMB.” Since its quotation on OTC Bulletin Board on April 15, 2009, there has been limited and sporadic trading of our common stock and consequently there are no historical share prices to report.  Any future quotations on the OTC Bulletin Board would reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual transactions

Our transfer agent is Nevada Agency and Trust Company, 50 West Liberty Street, Suite 880, Reno, Nevada 89501.

As of October 11, 2011, 4,706,251 shares of our common stock were issued and outstanding. There were 70 holders of record of our common stock. On October 11, 2011, the closing trade price for our common stock was $0.51 per share.  

Dividends

We have never declared any cash dividends with respect to our common stock. Future payment of dividends is within the discretion of our Board of Directors and will depend on our earnings, capital requirements, financial condition, and other relevant factors. Although there are no material restrictions limiting, or that are likely to limit, our ability to pay dividends on our common stock, we presently intend to retain future earnings, if any, for use in our business and have no present intention to pay cash dividends on our common stock.

Equity Compensation Plan Information

The following table sets forth certain information about the common stock available for issuance under our compensation plan of June 30, 2011.

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Recent Sales of Unregistered Securities; Use of Proceeds from Unregistered Securities

All securities that we have sold or issued during the past three years, but were not registered under the Securities Act of 1933, as amended, have been reported in our previously filed quarterly reports on Form 10-Q and previously filed current reports on Form 8-K.  The following is a summary of the sales and issuances of unregistered securities by GMT during the fourth fiscal quarter of 2011.

On April 20, 2011, Info-Accent and Powernique Technology Sdn Bhd, a Malaysian corporation, entered into a Purchase Agreement to purchase two units of Multimode Pyrolysis Reactor c/w Gasifier for a total consideration of approximately $662,000. On April 20, 2011, GMT issued 165,000 unregistered shares of common stock at $1.00 per share as part payment of the purchase consideration.

ITEM 6.  SELECTED FINANCIAL DATA

Not Applicable.

ITEM 7.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes to those statements included elsewhere in this Annual Report. In addition to the historical consolidated financial information, the following discussion and analysis contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth under "Risk Factors" and elsewhere in this Annual Report.

Our company, Global MobileTech, was organized under the laws of the State of Nevada on December 10, 2007, under our former name, Trevenex Resources, Inc.

We commenced our mobile VoIP communications and mobile advertising business in April 2010 when we entered into an exclusive Marketing, Distribution and License Agreement with VyseTech Asia Sdn Bhd (“VTA”) and acquisition of ongoing mobile VoIP and mobile advertising related contracts by our Malaysian subsidiary, Info-Accent Sdn Bhd.  In July 2010, we expanded our operations into the renewable energy business. Our business is currently organized under two operating segments as described below.

(i)  Mobile VoIP Communications and Mobile Advertising

We provide a proprietary platform which enables our customers to sell advertisement banners on the mobile phones of persons who have registered with them. Mobile phone users are incentivized to consent to receiving advertisement banners by a rewards program that allows mobile phone users to earn rewards points to make long distance and international calls and to send multimedia messages from their mobile phones. Our customers, which we call channel partners and private label partners, are marketers/advertisers who we have select and train and to whom we grant an exclusive territory in which they will operate. Our customers pay us a fee to utilize our proprietary platform within their exclusive territory. We provide our customers with access to mobile advertising content via our proprietary platform, as well as multimedia content production services which our customers utilize to sell services to advertisers and advertising agencies and to disseminate to registered mobile phone users via the rewards program. We utilize some of that fee revenue to purchase VoIP call capacity from VTA, which we provide to our customers (the private label partners) to make available to registered mobile phone users.  

Our mobile VoIP communications and mobile advertising solutions are powered by our Ad Server which comprises the proprietary software driven Mobile VoIP Gateway (MVG) and the Mobile Multimedia Sharing Gateway (MMSG) that we have acquired from VTA.

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We intend to leverage on the exponential growth of mobile phone ownership and usage; and the proliferation of mobile social networks in Asia to further enhance our mobile VoIP communications and mobile advertising business in the region.

(ii)  Renewable Energy

During July 2010, we expanded our operations into the renewable energy business to include (i) the provision of consultancy services for the design and integration of solar PV-wind hybrid power generation applications (ii) the production of syngas, bio-oil and biochar using biomass such as wood residues, and oil palm stems and fronds as feedstock; and (iii) the establishment and operation of a syngas-to-electricity generation plants. Our entry into the renewable energy business was intended to develop additional recurring revenue streams to complement our mobile VoIP communications and mobile advertising business segment.

We help our customers to conceptualize, design and integrate solar PV-wind systems to obtain structure design efficiency, energy efficiency, indoor environment quality enhancement, operation and maintenance optimization and the most important is waste reduction. The solar PV-wind systems that we design and build are based on the methodology for the optimal sizing of a solar PV-wind hybrid power generation system developed by our Chairman, Mohd. Aris Bernawi. The services we render include site assessment, site verification, power system modeling and analysis, engineering design, project management, progress inspection, installation and integration of the power generation system with solar PV to operate as a hybrid power generation system.

Applications that we have developed for the solar PV-wind hybrid power generation system include

·

Rural and remote island electrification

·

Powering remote radio base stations

  ·

Potable water production; and

·

Potable water production and organic vegetable cultivation

We do not manufacture any of the components used for the power generation systems. The components are source from various suppliers. We typically solicit competitive proposals from various component manufacturers, evaluate the proposals and recommend to our customers’ components that meet with their system performance specifications.

We derive revenues by helping our clients to:

·

identify projects and conducts feasibility studies on the proposed projects

·

conduct site assessment, site verification and progress inspection

·

design and integrate solar PV-wind hybrid power generation system to adapt and customize our solar PV-wind hybrid power generation system to local climatic and geographical conditions

·

project management services that include cost planning, tendering, negotiating and awarding of tenders, procurement, site superintendence and contract administration

·

integrate their control system to a central data collection system that can remotely monitor the operation of the plant and provide maintenance warnings; and

·

maintain their plant by providing computer aided maintenance management systems

Significant Developments and Plan of Operation

In March 2011, we purchased two units of Multimode Pyrolysis Reactor c/w Gasifier. These self-contained units are being used to demonstrate to our potential customers in South East Asia the conversion of biomass into syngas, bio-oil and biochar.

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On June 27, 2011, Info-Accent Sdn Bhd, a wholly owned subsidiary of GMT, entered into a Patent Purchase Agreement with Sunway Technology Development Limited to purchase the entire right, title and interest in and to the patent rights under U.S. patent # 8,005,057 entitled “Data communications between short-range enabled wireless devices over networks and proximity marketing to such devices” for a total consideration of $3.5 million.  Pursuant to the Patent Purchase Agreement, Sunway received net payment of Three Million United States Dollars (US$3,000,000) after setting off a sum of Five Hundred Thousand United States Dollars (US$500,000) previously paid by Info-Accent to VTA as a one-time license fee.  The purchase consideration of $3,000,000 was a combination of $2.0 million cash and issuance of 1,000,000 unregistered shares of our common stock at $1.00 per share.

We are at an advance discussion stage with oil palm plantation owners for the long-term supply of oil palm stems and fronds; and government owned power utility companies for the purchase of electricity that we produce.  Under the Feed-in Tariff Act enacted by the government of Malaysia on June 2, 2011, electricity is sold to power utility companies at a fixed price of RM0.31 (US$0.103) per kWh for a contracted period of 16 years.

We have completed the design and basic engineering work for the construction of our syngas/bio-oil/biochar production plant; and syngas-to-electricity generation plant.  

We need to expend approximately $15 million over the next year in costs related to the implementation of a 200 tons/day biofuel (syngas, bio-oil and biochar) production plant integrated with a 10MW syngas-to-electricity generation plant. Production of the biofuels; and generation of electricity is expected to commence during the third quarter of fiscal year 2012. We believe that our plant will be the first of its kind in South East Asia in the conversion of oil palm stems and fronds into electricity. The biofuel production and power generation plant will lay the foundation for expansion beyond 2012 by showcasing our capabilities; and attracting potential investors and joint venture partners into establishing further plants in Malaysia, Indonesia and Thailand. These three countries have an abundant supply of biomass feedstock and governments providing investment incentives to implement renewable energy projects.  

We intend to finance our expansion into the biomass-to-energy business through a combination of internally generated funds, private placement of our common stock and securing a loan under the Malaysian Green Technology Financing Scheme or GTFS. Under the GTFS scheme, the government of Malaysia will bear 2% of the total interest. In addition, the Government will provide a guarantee of 60% on the financing amount via Credit Guarantee Corporation Malaysia Berhad (CGC), with the remaining 40% financing risk to be borne by participating financial institutions/banks.  

We intend to secure the $9.0 million loan by using the power purchase contracts we have obtained from power utility companies as collateral to finance the loan. Under the Feed-in Tariff Act enacted by the government of Malaysia on June 2, 2011, electricity is sold to power utility companies at a fixed price of RM0.31 (US$0.103) per kWh for a contracted period of 16 years on an annual degression scale of 0.50%.

Concurrent with our fund raising, we are also working with a Clean Development Mechanism (“CDM”) Consultant to register our biomass renewable energy projects under the Kyoto Protocol’s CDM and to sell the resulting Emission Reductions (“ERs”) issued by the United Nations Framework Convention on Climate Change or UNFCCC. Such ERs can be traded in the European Climate Exchange (“ECX”). The ERs will help to further enhance our profitability, internal rate of return and payback period for the project.

Near-Term Goals and Strategic Objectives

Our goal is to establish Global MobileTech and our subsidiary Info-Accent as a leader in the mobile VoIP communications, mobile advertising and the renewable energy business in Asia.

Our strategic objectives are to:

i)

establish further offices in Asia as well as enter into partnerships with parties synergistic to our business

ii)

create a competitive and integrated service by rolling out a business model that combines our user rewards program with the distribution of mobile advertisements. We have the unique capability of giving our community members the option of making “free but paid for” VoIP calls from their basic mobile or their smart phones

iii)

market our solar PV-wind hybrid power generation services in Asia

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iv)

produce and market our bio-oil, biochar and syngas in Asia; and

v)

produce and sell electricity generated from syngas to power utility companies in Asia.

Results of Operations

The following tables set forth our results of operations on a consolidated basis for the periods presented.  The period-to-period comparison of financial results is not necessarily indicative of future results.

Comparison of Year Ended June 30, 2011 to Year Ended June 30, 2010

Revenues

For the years ended June 30, 2010 and 2011, our revenues were $4,323,601 and $30,674,747, respectively. The revenues were generated from our operations by our Malaysian subsidiary, Info-Accent. For the year ended June 30, 2011, we recorded revenues of $30,674,747 comprised of $21,463,897 from mobile VoIP and mobile advertising services and $9,210,850 from renewable energy applications. Our mobile VoIP and mobile advertising segment accounted for 70% of the total revenue with 30% generated by our renewable energy segment. Our earnings were $0.43 per share and net income before tax was $2,067,877 with $1,209,960 or 58% from mobile VoIP and mobile advertising and $860,917 or 42% from renewable energy.

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The following table sets forth the revenue from our two business segments for the years ended June 30, 2011 and 2010:

For the year ended June 30, 2011, our total revenue was $30,674,747 of which $21,463,897 or 70% of our revenue was derived from our mobile VoIP communications and mobile advertising business segment and $9,210,850 or 30% was derived from our renewable energy business segment. For the year ended June 30, 2010, our total revenue of $4,323,601 was solely derived from our mobile VoIP communications and mobile advertising business segment.

*Revenues are attributed to geographical location of our customers.                                                                                   

For the year ended June 30, 2011, the total revenue of $30,674,747 comprising of $30,036,297 or 98% was derived from services rendered to our customers in Malaysia, while $638,450 or 2% was derived from services rendered to our private label partner customer in Hong Kong. For the year ended June 30, 2010, the total revenue of $4,323,601 comprised of $2,468,388 or 57% derived from the services rendered to our private label partner customers in Malaysia with $1,855,213 or 43% derived from services rendered to our customer in Hong Kong.

For the year ended June 30, 2011, out of the $30,036,297 of our revenue generated from our customers in Malaysia, $20,825,447 or 68% was derived from mobile VoIP communications and mobile advertising business segment and $9,210,850 or 30% was derived from our renewable energy business segment. For the year ended June 30, 2010, the entire revenue of $2,468,388 generated from our customers in Malaysia was derived from our mobile VoIP communications and mobile advertising business segment.

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Customer Concentration

Customer concentration based on revenue contribution for the years ended June 30, 2011 and 2010 were as follows:

For the year ended June 30, 2011, six customers from Malaysia accounted for 80% of the revenue from our mobile VoIP communications and mobile advertising business segment; and four customers from Malaysia accounted 100% of the revenue from our renewable energy business segment. For the year ended June 30, 2010, a customer from Hong Kong accounted for 43% of the total revenue and remaining 57% of the total revenue is attributed to our five customers from Malaysia at 13%, 13%, 12%, 11% and 8% each. If we are unable to retain our customers in Malaysia, it will have a material effect on our results of operations and financial condition. To preempt the possible loss of our customers, we have increased our marketing efforts to appoint additional channel partners and private label partners to reduce the concentration of each customer to below 10%.

Cost of Goods Sold

For the year ended June 30, 2011, total cost of goods sold was $25,897,718 comprising of $18,528,325 for the mobile VoIP communications and mobile advertising business segment and $7,369,393 for our renewable energy business segment. For the year ended June 30, 2010, cost of goods sold solely from the mobile VoIP communications and mobile advertising business segment was $3,644,894. The increase in cost of goods sold is attributable to revenue generated from the sale of our mobile VoIP communications and mobile advertising solutions and our renewable energy contracts.

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Vendor Concentration

For the year ended June 30, 2011, five vendors accounted for 92% of the cost of sales from our mobile VoIP communications and mobile advertising business segment; and two vendors accounted for 100% of the cost of sales from our renewable energy business segment. Five vendors accounted for 91% of cost of sales from our mobile VoIP communications and mobile advertising business segment for the year ended June 30, 2010. If we are unable to retain at least two of the other vendors, it will impinge on our ability to deliver a smooth and efficient service to our customers. It will also damage our reputation and have an adverse effect on the quality of services we render. To reduce our dependency on a single vendor to provide the services that we require, we have taken proactive steps to engage the services of new vendors who meet our quality of service and pricing criteria.  

We outsource our mobile advertising work to our five vendors to: (i) accelerate the commercial rollout of our business in a scalable manner, (ii) minimize our up-front investment and financial risks, (iii) enable us to offer products and services to our customers that we believe are best-in-class; and (iv) allow us to focus on our core competency in the development of mobile VoIP communications and mobile advertising applications. We have adopted a similar model in rolling out our solar PV-wind hybrid power generation business. All our vendors are located in Malaysia.

Gross Profit

For the year ended June 30, 2011, our total gross profit was $4,777,029 and our gross margin as a percentage of revenue was 16%. Out of the total gross profit of $4,777,029, $2,935,572 or 61% was from our mobile VoIP communications and mobile advertising business segment and $1,841,457 or 39% from our renewable energy business segment.

For the year ended June 30, 2010, our gross profit from our mobile VoIP communications and mobile advertising solutions was $678,707. Our gross margin as a percentage of revenue was 16%.

Operating expenses

Our total operating expenses for the year ended June 30, 2011 were $2,698,681 compared to $572,283 for the year ended June 30, 2010. The increase of $2,126,398 was attributable primarily to increase in general and administration expenses of $1,488,761, sales and marketing expenses of $624,387 and professional fees of $15,650.

For the year ended June 30, 2011, general and administrative expenses were $1,509,413 compared to $241,622 for the year ended June 30, 2010. The increase was primarily attributable to development cost of $874,676, stock-based compensation of $275,367 and administration and clerical costs of $116,671.

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Professional fees for June 30, 2011 were $106,283 compared to $90,633 for June 30, 2010. The increase of $15,650 was primarily attributable to an increase in professional fees.

For the year ended June 30, 2011, we incurred sales and marketing expenses of $812,435 compared to $188,048 for the year ended June 30, 2010, an increased of $624,387. We incurred sales and marketing expenses relating to the promotion and marketing of Info-Accent's mobile VoIP communications and mobile advertising services; and the renewable energy services in Asia.

Provision for Income Taxes

For the year ended June 30, 2011, we recorded a deferred income tax provision of $576,736 and a provision of income tax of $3,426. For the year ended June 30, 2010, we recorded a deferred income tax provision of $48,919. In 2011 and 2010, we did not record any tax benefit for the losses incurred in the U.S. by effecting a 100% valuation allowance on the potential benefit as per ASC topic 740. We will record the tax benefits of U.S. losses once our U.S. operations have realized consistent profitability.

Net Income

For the year ended June 30, 2011, net income was $1,487,715 compared to a net income of $56,636 for the year ended June 30, 2010.

Assets

Our total assets for the year ended June 30, 2011 were $8,498,975 compared to $4,521,694 for the year ended June 30, 2010. The increase of $3,977,281 was primarily attributed to our purchases of an U.S. patent # 8,005,057 of $3.5 million, and property, plant and equipment of $2,425,200.

Liabilities

Our total liabilities for the year ended June 30, 2011 were $5,343,820 compared to $4,333,218 for the year ended June 30, 2010, an increase of $1,010,602. This increase was mainly attributed to an increase in accounts payable of $459,872 and amount of $1,082,861 due and payable to Sunway Technology Development Limited for the purchase of patent # 8,005,057 entitled “Data communications between short-range enabled wireless devices over networks and proximity marketing to such devices.”

Liquidity and Capital Resources

For the year ended June 30, 2011, our principal sources of liquidity included cash and cash equivalents of $17,681 compared to $18,416 at June 30, 2010. In addition, as of at June 30, 2011 and 2010, accounts receivable, net of allowances were $963,557 and $3,066,296, respectively. As of June 30, 2011 and 2010, we had a working capital deficit of $2,368,680 and $1,199,615, respectively. The change in working capital was primarily the result of our acquisition of the U.S. patent totaling $3.5million, and purchase property, plant and equipment totaling $2,425,200. The acquisition of these assets offset the increase in cash and accounts receivable.

For the year ended June 30, 2011, we generated $3,449,193 of cash from operations which was derived from a net profit of $1,487,715, increased by adjustments for depreciation, amortization and other adjustments of $1,132,537 and increased by changes in operating assets and liabilities of $828,941.

Investment activities consumed cash in the amount of $3,755,832 consisting of capital expenditures for purchase of patent, property plant and equipment. For the year ended June 30, 2010, investment activities consumed cash in the amount of $453,553 consisting of capital expenditures for property, plant and equipment. 

Financing activities provided net cash in the amount of $203,938. During the year ended June 30, 2011, we repaid the promissory notes of $500 and $17,500, that we issued to Marycliff Investment Corp. and Peter Swan Investment-Management Ltd., respectively. In addition, $203,224 was raised from a private placement of our common stock and $18,714 represents amount owing to Mohd. Aris Bernawi and Valerie Looi.

We need to expend approximately $15 million over the next year in costs related to the implementation of a 200 tons/day biofuel (syngas, bio-oil and biochar) production plant integrated with a 10MW syngas-to-electricity

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generation plant. Production of the syngas, bio-oil and biochar; and generation of electricity is expected to commence during the third quarter of fiscal 2012. The biofuel production and power generation plant will lay the foundation for expansion beyond 2012 by showcasing our capabilities; and attracting potential investors and joint venture partners into establishing further plants in Malaysia, Indonesia and Thailand. These three countries have an abundant supply of biomass feedstock and governments providing investment incentives to implement renewable energy projects.  

We intend to finance our expansion through a combination of:

1)  internally generated funds

$  1,500,000

2)  private placement of our common stock

    4,500,000

3)  securing a loan under the Green Technology Financing

Scheme (“GTFS”) promoted by the government of Malaysia

    9,000,000

----------------

$15,000,000

==========

Under the GTFS scheme, the government of Malaysia will bear 2% of the total interest. In addition, the Malaysian government will provide a guarantee of 60% on the financing amount via Credit Guarantee Corporation Malaysia Berhad (“CGC”), with the remaining 40% financing risk to be borne by participating financial institutions/banks. We intend to secure the $9.0 million loan by using the power purchase contracts with power utility companies that we have secured at a preferred rate of RM0.31 (approximately $0.103) per kWh for a contracted period of 16 years as collateral to finance the loan. There is, however, no assurance that any financing will be available or if available, on terms that will be acceptable to us.

The $15.0 million will be utilized as follows:

1)   Purchase of capital equipment

$ 12,500,000

2)   Site preparation and construction  of a 200 tons/day

       plant for production of syngas, bio-oil and biochar

     1,000,000

3)   Working capital

     1,500,000

-----------------

$ 15,000,000

===========

If we are unable to raise $13.5 million comprising of $4.5 million from the sale of our common stock and a green technology loan of $9.0 million from the government of Malaysia, we will (i) construct a scaled down integrated syngas/bio-oil/biochar and syngas-to-electricity power plant; or  (ii) delay our expansion into the production of syngas, bio-oil and biochar; and generation of electricity; or (iii) seek joint venture partners and continue with our efforts to raise funds from investors through debt and equity financing. Any delay in expanding our renewable energy business will not have any material effect on our financial results for fiscal 2012.

Critical Accounting Policies and Estimates

This discussion and analysis of our financial condition and results of operations are based on our financial statements that have been prepared under accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could materially differ from those estimates. We have disclosed all significant accounting policies in Note 1 to the financial statements included in this Form 10-K. Our critical accounting policies are:

Currency Conversion

The business of our mobile VoIP communications and mobile advertising and renewable energy business is

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generally conducted in Malaysia. The financial statements of the Company are translated from Ringgit Malaysia into U.S. Dollars in accordance with Accounting Standards Codification topic 830-30, “Foreign Currency Matters – Translation of Financial Statements”. Accordingly, all assets and liabilities are translated at the exchange rates prevailing at the balance sheet dates and all income and expenditure items are translated at the average rates for each of the periods presented.

Revenue Recognition

The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company and its subsidiaries apply the revenue recognition principles set forth under SEC Staff Accounting Bulletin 104 (“SAB 104”) and the Company and its subsidiaries considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.

Use of estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Accounting for Share-Based Compensation

We use various forms of equity compensation, including stock options and nonvested stock awards, as a major part of our compensation programs to retain and provide incentives to our top management team members and other employees. In the past, we have also issued cash-settled SARs to employees. We account for equity compensation in accordance with FASB ASC Topic 718, “Compensation-Stock Compensation.” Revisions to any of our estimates or methodologies could have a material impact on our financial statements.

ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not Applicable.

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ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and

Stockholders of Global Mobile Tech, Inc.

We have audited the accompanying balance sheets of Global Mobile Tech, Inc. as of June 30, 2011 and June 30, 2010, and the related statements of operations, stockholders’ equity and cash flows for the years ended June 30, 2011 and June 30, 2010. These financial statements are the responsibility of the company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Global Mobile Tech, Inc. as of June 30, 2011 and June 30, 2010, and the results of its operations and its cash flows for each of the years in the two-year period ended June 30, 2011 and June 30, 2010 in conformity with accounting principles generally accepted in the United States of America.

/s/Lake & Associates CPA’s LLC

Lake & Associates CPA’s LLC

Schaumburg, IL