The accompanying notes are an integral part of these statements

15

GLOBALINK, LTD. And Subsidiary

Consolidated Statements of Changes in Shareholders' Equity

(Expressed in U.S. Dollars)

The accompanying notes are an integral part of these statements

16

GLOBALINK, LTD.

Consolidated Statements of Cash Flows

For the year ended December 31, 2013 and 2012

(Expressed in U.S. Dollars)

The accompanying notes are an integral part of these statements

17

GLOBALINK LTD. And Subsidiary

Notes to the Consolidated Financial Statements

December 31, 2013

(Expressed in U.S. Dollars)

1.

NATURE OF OPERATIONS

Globalink, Ltd. (the “Company”) was incorporated in the State of Nevada on February 3, 2006. The Company has focused its efforts on internet hotel booking services. The Company has developed a proprietary online hotel booking program for connecting users with available rooms in hotels across the world. In order to gain access to hotels, the Company acquired OneWorld Hotel Destination Service Inc. (“OneWorld” or the “Subsidiary”) in Vancouver, British Columbia, Canada on October 31, 2008. OneWorld is a hotel booking company which has established relationships with major hotel chains. Since the acquisition, OneWorld became a wholly-owned subsidiary of the Company.

2.

SIGNIFICANT ACCOUNTING POLICIES

Statement of presentation and consolidation

These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“US GAAP”). The consolidated financial statements include the financial statements of the Company and its subsidiary. All inter-company transactions and balances between the Company and its subsidiary have been eliminated upon consolidation.

The Subsidiary is consolidated from the date on which control is transferred to the Company and will cease to be consolidated from the date on which control is transferred out of the Company.

Certain comparative figures have been reclassified to conform to the current year’s presentation.

Continuance of operation

These consolidated financial statements prepared in conformity with US GAAP contemplate continuation of the Company as a going concern. As of December 31, 2013, the Company has an accumulated deficit of $174,824 since inception and a working capital deficiency of $55,173. Its ability to continue as a going concern depends upon whether it develops profitable operations and continues to raise adequate financing.  However, management believes that the Company has sufficient working capital to meet its projected minimum financial obligations for the next fiscal year. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

18

Use of estimates

The preparation of consolidated financial statements in conformity with US GAAP requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities and provisions, income and expenses and the disclosure of contingent assets and liabilities at the date of these financial statements.  Estimates are used for, but not limited to, the selection of the useful lives of fixed assets, provision necessary for contingent liabilities, allowance for doubtful debt associated with accounts receivable, fair values, revenue recognitions, and taxes. Management believes that the estimates utilized in preparing its consolidated financial statements are reasonable and prudent. Actual results may differ from these estimates.  

Foreign currency translation

The Company’s financial information is presented in United States dollars (“US dollars”). The functional currency of the Company is the US dollar. The functional currency of the Company’s subsidiary is the Canadian dollars (“CAD”). Transactions by the Company’s subsidiary which are denominated in currencies other than CAD are remeasured into CAD at the exchange rate prevailing at the date of the transactions. Exchange gains and losses resulting from transactions denominated in a currency other than CAD are included in the consolidated statements of operations as exchange gain or loss. The financial statements of the Subsidiary are translated into US dollars in accordance with ASC830, “Foreign Currency Matters”. The financial information is first presented in CAD and then is translated into US dollars at year-end exchange rates as to assets and liabilities and average exchange rates as to revenue and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

Cash and cash equivalents

Cash and cash equivalents include cash and guaranteed investment certificates (GICs) with a term of 1 year or less.  These investments are redeemable at any time at the option of the Company.

Accounts receivable

Trade receivables are carried at original invoice amount. Accounts receivable are written off to bad debt expense using the direct write-off method. Receivables past due for more than 120 days are considered delinquent. Management determines uncollectible accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions and by using historical experience applied to an aging of accounts. Recoveries of trade receivables previously written off are recorded when received.

19

Fixed assets

Furniture, fixtures and equipment are recorded at cost less accumulated amortization. Amortization is computed using the declining balance method, other than leasehold improvements which is computed using the straight line method over the lease term. Estimated rates of amortization are as follows:

Computer equipment

30%, declining balance

Computer equipment

45% declining balance

Furniture and equipment

20%, declining balance

Leasehold improvements

5 years, straight-line

Fair Value

The Company measures the fair values in accordance with accounting guidance that defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance also discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

-

Level 1: Observable inputs such as quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

-

Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

-

Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

The inputs used in the fair value measurement should be from the highest level available. In instances where the measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level input that is significant to the fair value measurement in its entirety.

As at December 31, 2013, the Company’s financial instruments comprised cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, other current liabilities, advances from shareholders and share subscription received in advance. With the exception of cash and cash equivalents, all financial instruments held by the Company are measured at amortized cost.  The fair values of these financial instruments approximate their carrying value due to their short-term maturities.  Cash is measured using level 1 input of the fair value hierarchy.

20

Goodwill

The Company recognizes goodwill in accordance with ASC 805 “Business Combination”.  Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed, if any. The goodwill impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, goodwill of the reporting unit would be considered impaired. To measure the amount of the impairment loss, the implied fair value of a reporting unit's goodwill is compared to the carrying amount of that goodwill. If the carrying amount of a reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is indicated. The Company concluded that there were no indicators of impairment with respect to the Company's goodwill as of December 31, 2012 and 2013.

Impairment Reviews for Long-Lived Assets

Long-lived assets such as property and equipment are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset.  When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets.  We did not recognize any impairment losses for any periods presented.

Revenue Recognition

The Company recognizes revenue once the service is rendered and all the significant risks and rewards of the service have been transferred to the customer. As a result, revenue from hotel booking services are recognized when customers check in the hotels. Amounts received from customers for services not yet rendered are included in current liabilities as unearned revenue.

In accordance with the ASC 605 “Revenue Recognition”, the Company reports its revenue as an agent, on the net amount retained, which is the amount billed to a customer less the amount paid to a hotel.

Income Taxes

The Company accounts for income taxes following the deferral method in accordance with the ASC 740 “Income Taxes.” Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company applies the accounting guidance issued to address the accounting for uncertain tax

21

positions. This guidance clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements as well as provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years that the asset is expected to be recovered or the liability settled.

Earnings (Loss) per Common Share

Basic earnings (loss) per share is determined by dividing earnings (loss) by the weighted average shares of common stock outstanding during the year. Diluted earnings (loss) per share is determined by dividing earnings (loss) by the diluted weighted average shares outstanding. Diluted weighted average shares reflects the dilutive effect, if any, of potentially dilutive common shares, such as stock options and warrants calculated using the treasury stock method. In periods with reported net operating losses, all common stock options and warrants are deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal.

Recently Adopted Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-02 which requires additional disclosures regarding the reporting of reclassifications out of accumulated other comprehensive income.  ASU 2013-02 requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period.  This guidance is effective for reporting periods beginning after December 15, 2012. The Company adopted this guidance effective January 1, 2013.  The Company’s adoption of this standard did not have a material impact on its consolidated financial statements.

In March 2013, the FASB issued ASU 2013-05, which permits an entity to release cumulative translation adjustments into net income when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity.  Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or, if a controlling financial interest is no longer held. The revised standard is effective for fiscal years beginning after December 15, 2013; however, early adoption is permitted. The Company does not expect adoption of this ASU to materially impact its consolidated financial statements.  

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3.

OTHER CURRENT ASSETS

The items comprising the Company’s other current assets are summarized below:

	December 31, 2013	December 31, 2012
	$	$
Deposits to hotels	24,476	26,259
Other deposits to suppliers	4,038	7,983
Credit card receivable	4,782	2,871
Total other current assets	33,296	37,113

4.

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities mainly consist of trade payables to hotels and travel service suppliers.

5.

OTHER CURRENT LIABILITIES

The items comprising the Company’s other current liabilities are summarized below:

	December 31, 2013	December 31, 2012
	$	$
Unearned revenue Corporate taxes payable	9,687 9,852	13,175 -
Sales tax refundable	2,010	1,204
Total other current liabilities	21,549	14,379

6.

ADVANCES FROM SHAREHOLDERS

Advances from shareholders of $62,297 (2012 - $50,126) consist of cash contributed by three principal shareholders or expenses paid by them on behalf of the Company. The advances have no fixed term of repayment and bear no interest.

7.

SHAREHOLDERS’ EQUITY

Share capital

Authorized

- 500,000,000 of common voting shares with $0.0002 par value.

23

Issued and outstanding

As of December 31, 2012 and 2013, the Company has 24,785,000 shares issued and outstanding. There were no share issuances during the years ended December 31, 2012 and 2013.

During the year ended December 31, 2012, the Company received $10,000 for share subscriptions. As of December 31, 2012 and 2013, the shares are not issued, and the $10,000 was recorded as share subscription received in advance.

The Company has no options or warrants outstanding as of December 31, 2012 and 2013. There were no option or warrant transactions during the years ended December 31, 2012 and 2013.

8.

REVENUE

The Company reports its revenue as an agent on a net basis. The following table shows the gross amount the Company received from customers and the booking costs during the years ended December 31, 2012 and 2013:

For the year ended	December 31, 2013	December 31, 2012
	$	$
Gross amount received	3,411,951	3,211,108
Costs	(3,119,619)	(2,789,318)
Revenue	292,332	421,790

9.

SEGMENTED INFORMATION

The Company currently operates in one business segment, which is the internet hotel booking service. Accordingly, the Company does not have separately reportable segments.

10.

INCOME TAXES

A reconciliation of income taxes at statutory rates with the reported taxes is as follows:

For the years ended December 31,	2013	2012
	$	$
Income (loss) before income taxes	(69,748)	79,028
Expected income tax  expenses (recovery) Adjustment of prior year income tax expense Application of current year loss to prior periods Change in statutory, foreign exchange rates and other	(17,960) 20,568 16,131 5,864	20,350 - - -
Change in unrecognized deductible temporary differences	(3,239)	(7,475)
Total income tax expense	21,364	12,875

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The significant components of the Company’s unrecorded deferred tax assets and liabilities are as follows:

	December 31, 2013	December 31, 2012
	$	$
Non-capital losses available for future periods	31,000	34,000
Deferred tax assets	31,000	34,000
Valuation allowance	(31,000)	(34,000)
Deferred tax assets	-	-

10.

INCOME TAXES (Continued)

The significant components of the Company’s temporary differences and unused tax losses are as follows:

Tax attributes are subject to review, and potential adjustment, by tax authorities.

 

11.    SUBSEQUENT EVENTS

On February 1, 2014, the Company elected Hin Kwok Sheung and Jia Charles Yao to the board of directors.  In addition, Hin Kwok Sheung was elected to the position of chairman of the board.  Each director extended a demand loan to the Company for $200,000 with an annual interest rate of 2%.  

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ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None

ITEM 9A.  CONTROLS AND PROCEDURES

Controls and Procedures.

Evaluation of Disclosure Controls and Procedures:

We maintain disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act that are designed to insure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, or the persons performing similar functions, to allow timely decisions regarding required disclosure.

Under the supervision and with the participation of our CEO and CFO, or the persons performing similar functions, our management has evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this annual report.  Based on that evaluation, our CEO and CFO, or the persons performing similar functions, concluded that our disclosure controls and procedures were not effective as of December 31, 2013.

Management’s Annual Report on Internal Control over Financial Reporting:

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act, for the Company. Our internal control over financial reporting is the process designed by and under the supervision of our CEO and CFO, or the persons performing similar functions, to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of our financial statements for external reporting in accordance with accounting principles generally accepted in the United States of America.  

Management has determined that our disclosure controls and procedures were not effective as of December 31, 2013.

Management recognizes that there are inherent limitations in the effectiveness of any system of internal control, and accordingly, even effective internal control can provide only reasonable assurance with respect to financial statement preparation and may not prevent or detect material misstatements. In addition, effective internal control at a point in time may become ineffective in future periods because of changes in conditions or due to deterioration in the degree of compliance with our established policies and procedures.

26

Management has evaluated the effectiveness of our internal control over financial reporting using the criteria established in Internal Control – Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).  

The matters involving internal control over financial reporting that our management considered to be material weaknesses were:

-

Lack of segregation of duties as we have an inadequate number of personnel to properly implement control procedures.

The aforementioned material weaknesses were identified by our chief executive officer and chief financial officer in connection with the review of our consolidated financial statements as of December 31, 2013.

Management believes that the material weaknesses set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee, the inadequate accounting personnel results in ineffective oversight in the monitoring of required internal controls over financial reporting, which weaknesses could result in a material misstatement in our financial statements in future periods.

Management’s Remediation Initiatives

In an effort to remediate the identified material weaknesses and enhance our internal controls over financial reporting, the Company plans to make the necessary improvements to remediate these deficiencies.  

This annual report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting.  We were not required to have, nor have we, engaged our independent registered public accounting firm to perform an audit of internal control over financial reporting pursuant to the rules of the Commission that permit us to provide only management’s report in this annual report.

Evaluation of Changes in Internal Control over Financial Reporting:

Under the supervision and with the participation of our CEO and CFO, or those persons performing similar functions, our management has evaluated changes in our internal controls over financial reporting that occurred during the year ended December 31, 2013.  Based on that evaluation, our CEO and CFO, or those persons performing similar functions, did not identify any change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B.  OTHER INFORMATION

None

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PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

Our bylaws provide that the number of directors who shall constitute the whole board shall be such number as the board of directors shall at the time have designated.  Each director shall be selected for a term of one year and until his successor is elected and qualified. Vacancies are filled by a majority vote of the remaining directors then in office with the successor elected for the unexpired term and until the successor is elected and qualified.

The directors and executive officers are as follows:

NAME                                AGE      POSITIONS HELD          SINCE

Hin Kwok Sheung                62      CEO, Director                 February 1, 2014

 To Present

Robin Young                        70      President/Director           Inception to

                                                                    

    Present

Ben Choi                              58      Treasurer/Director           Inception to

                                                                    

    Present

Daniel Lo                              47      Secretary/Director           Inception to

                                                                    

    Present

Jia Charles Yao                     67      Director                            February 1, 2014

  To Present

Business Experience of Officers and Directors

Hin Kwok Sheung, Chief Executive Officer, Director, and Chairman of the Board, was appointed to his positions with the company on February 1, 2014.  He was a director of the Xin Tong Tai Storage and Logistics Company from 1995 through 2011.  In 2009, Mr. Sheung worked with the city of Chengdu, China as a commercial property developer.  In 2012, Mr. Sheung was the director and CEO of Wanxing Property Developments Company and of the Golden Imperial Gardens Development Company.  Mr. Sheung graduated from the University of Heilongliang with a B.A. in linguistics with a focus in Russian.

Robin Young, President and Director, has been the principal of Young Engineering Corporation, an engineering consulting firm for the building industry since 1975.  He has also been the president of Landtek Properties Ltd., a development company since 1994 and Coreng Construction Corporation, a company providing project and construction management as well as general contracting from 1976 to 1990.  Mr. Young was listed in the “Who’s Who in British Columbia” and “International Who’s Who

28

of Professionals”.  Mr. Young received a bachelor of applied science degree in civil engineering from the University of British Columbia in 1963.  He conducted his post-graduate studies both at McGill University and at Concordia University and received his master’s degree in civil and structural engineering in 1970 from Concordia University.

Ben Choi, Treasurer and Director, is a software development consultant.  From 2001 to present, Mr. Choi has been project manager of NewViews Health Care Consultants Ltd., a company which develops health care software programs. He has also been the project leader of developing Pharmacy Claims Adjudicate Software, a Health Canada, Non-Insurance Health Benefit Pilot project & Medical Transportation Software for Alberta Regional Health Department.  Mr. Choi has extensive consulting experience in the technology fields including network services, hardware and software sales and implementation. Mr. Choi received a Bachelor of Science degree from the University of Winnipeg in 1976.  In 1988, he took courses in computer programming and data processing at the University of Alberta.

Daniel Lo, Secretary and Director, has been the president of LCF Advanced Technology Ltd. which is a leading computer hardware solution company in Western Canada since 1996.  LCF is an Intel Premier Partner and Microsoft Certified partner. In 1998, Mr. Lo led LCF to become an ISO 2002 company and upgraded the company into the new ISO 2001:2000 standard in 2003.  The ISO 2001:2000 standard is an international quality management system which ensures consistency and improvement of working practices.  In 1986, Mr. Lo received his business administration degree in finance from Simon Fraser University, BC.

Jia Charles Yao, Director, was the general manager of TangShan Xintungtai Storage and Transportation Company Ltd. in China from 2001 through 2012.  TangShan is engaged with the storage, transportation, and logistics of materials.  From 2003 through 2006, Mr. Yao was a research student in the MBA program in the Faculty of Economic Management at the Capital University of Economics and International Trades.

Section 16(a) Beneficial Ownership Reporting Compliance

Under Section 16(a) of the Securities Exchange Act of 1934, as amended, an officer, director, or greater-than-10% shareholder of the registrant must file a Form 4 reporting the acquisition or disposition of registrant's equity securities with the Securities and Exchange Commission no later than the end of the second business day after the day the transaction occurred unless certain exceptions apply.  Transactions not reported on Form 4 must be reported on Form 5 within 45 days after the end of the registrant's fiscal year.  Such persons must also file initial reports of ownership on Form 3 upon becoming an officer, director, or greater-than-10% shareholder.  To our knowledge, based solely on a review of the copies of these reports furnished to it, the officers, directors, and greater than 10% beneficial owners have complied with all applicable Section 16(a) filing requirements during 2013.

Code of Ethics Policy

The registrant has prepared but has not yet adopted a code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions.

29

Corporate Governance

There have been no changes in any state law or other procedures by which security holders may recommend nominees to our board of directors.  In addition to having no nominating committee for this purpose, we currently have no specific audit committee and no audit committee financial expert.  Based on the fact that our current business affairs are simple, any such committees are excessive and beyond the scope of our business and needs.

ITEM 11.  EXECUTIVE COMPENSATION

Since inception in February 2006, we have issued 375,000 shares of the company’s securities to each of the president, secretary and treasurer as compensation for their services performed to and on behalf of the Company.  No executive compensation in cash has been made.  We may elect to award a cash bonus to key employees, directors, officers and consultants based on meeting individual and corporate planned objectives.  

Directors Compensation.  

We do not have any standard arrangements by which directors are compensated for any services provided as a director.  No cash has been paid to the directors in their capacity as such.

On January 2, 2008 the Board of Directors approved a motion to extend to three Directors options to purchase 100,000 shares of common stock (pre 5:1 split) at $.10 per share to expire on January 2, 2010.  On December 23, 2009 the Directors extended the options to January 2, 2012.  No expense has been added as a result of the issuance of these options because the stock was trading and still is trading below the option price.

On March 30, 2010 the Board of Directors authorized an additional 400,000 shares of common stock each to three directors.  The options expired on March 31, 2012 and had a strike of $0.01 per share.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDERS MATTERS

The following table sets forth, as of March 31, 2014, the number and percentage of outstanding shares of the registrant’s common stock owned by (i) each person known to us to beneficially own more than 5% of its outstanding common stock, (ii) each director, (iii) each named executive officer, and (iv) all officers and directors as a group.

30

Name of Beneficial Owners      

Common Stock

                               

       Beneficially Owned    

Percentage (1)

Robin Young (2)                    

    3,502,150                   14.13%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Ben Choi                        

    3,750,000                   15.13%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Daniel Lo                       

    3,750,000                   15.13%

333 - 13988 Cambie Road

Richmond, B.C. Canada V6V 2K4

Hin Kwok Sheung

                 0

     0.00%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Jia CharlesYao

                 0

     0.00%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Directors and Officers,

as a group(5 persons)          

  11,002,150                   44.39%

Barry Phillips

              

    3,750,000                   15.13%

7903 - 93a Ave.

Edmonton, Alberta T6C 1V2

Petula Wong                     

    3,750,000                   15.13%

Rm C 12/F 55 Tong Mi Road

Kowloon, Hong Kong

Vincent Au                      

     2,000,000,                  7.686%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

 (1) Based upon 24,785,000 issued and outstanding as of March 31, 2014.

 (2) Owned by Fidelity Clearing Canada ULC, controlled by Robin Young.  Fidelity Clearing Canada ULC is located at 483 Bay Street, Suite 200, South Tower, Toronto, ON M5G 2N7.

31

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

Shareholder Advances

Advances from shareholders are for the reimbursement of expenses incurred on behalf of the company by the three principal shareholders and they bear no interest.  These notes are short term advances which are paid generally within one year.  The balance at December 31, 2013 is $62,297 and $55,694 at December 31, 2012.

Director Independence

The registrant’s board of directors consists of Robin Young, Ben Choi and Daniel Lo.  None of them is independent as such term is defined by a national securities exchange or an inter-dealer quotation system.  During the fiscal year ended December 31, 2013, there were no transactions with related persons other than as described in the section above entitled “Item 11.  Executive Compensation”.

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Audit Fees

We incurred aggregate fees and expenses of $15,000 from Thomas J. Harris, CPA, for the 2012 fiscal year.  We have not incurred fees and expenses from Davidson & Company LLP, Chartered Accountants for the 2013 fiscal year.  Fees included work completed for our annual audit and for the review of our financial statements included in our Forms 10-K and 10-Q.

Tax Fees

We did not incur any aggregate tax fees and expenses from Thomas J. Harris, CPA for the 2012 fiscal year. We have not incurred tax fees and expenses from Davidson & Company LLP, Chartered Accountants for the 2013 fiscal year for professional services rendered for tax compliance, tax advice, and tax planning.

All Other Fees

We did not incur any audit related fees from Thomas J. Harris, CPA during the 2012 fiscal year and from Davidson & Company LLP, Chartered Accountants during the 2013 fiscal year.  The Board of Directors, acting as the Audit Committee considered whether, and determined that, the auditor's provision of non-audit services was compatible with maintaining the auditor's independence.  All of the services described above for fiscal years 2013 and 2012 were approved by the Board of Directors pursuant to its policies and procedures.  We intend to continue using Davidson & Company LLP, Chartered Accountants solely for audit and audit-related services, tax consultation and tax compliance services, and, as needed, for due diligence in acquisitions.

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a)(1)  List of Financial statements included in Part II hereof

Report of Independent Registered Public Accounting Firm

Balance Sheet:

  December 31, 2013 and 2012

Statements of Operations:

  For the years ended December 31, 2013 and 2012

Statements of Changes in Shareholders’ Equity (Deficit)

  For the years ended December 31, 2013 and 2012

Statements of Cash Flows:

  For the years ended December 31, 2013 and 2012

Notes to Financial Statements

  For the years ended December 31, 2013 and 2012

 (a)(2) List of Financial Statement schedules included in Part IV hereof:  None

 (a)(3) Exhibits

 The following exhibits are included herewith:

Exhibit No.	Description
31	Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32	Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

*XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections. (Incorporated by reference to the 10-K filed March 31, 2014)

Following are a list of exhibits which we previously filed in other reports which we filed with the SEC, including the Exhibit No., description of the exhibit and the identity of the Report where the exhibit was filed.

33

NO.	DESCRIPTION	FILED WITH	DATE FILED
3.1	Articles of Incorporation	Form SB-2	May 10, 2006
3.2	Bylaws	Form SB-2	May 10, 2006
4	Specimen Stock Certificate	Form SB-2	May 10, 2006
10	Share Exchange Agreement	Form 8-K	March 6, 2009

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Report to be signed on its behalf by the undersigned duly authorized person.

Dated: December 2 , 2014

/s/ Hin Kwok Sheung

By: Hin Kwok Sheung , CEO

In accordance with the requirements of the Securities Exchange Act of 1934, as amendment, this report has been signed by the following persons in the capacities and on the dates stated.

Globalink, Inc.

(Registrant)

By: /s/ Ben Choi                          Dated: December 2 , 2014

           Ben Choi

           Chief Financial Officer, Controller and Director

Director, Chief Executive Officer

(As a duly authorized officer on behalf of the registrant and as Principal Executive Officer)

By: /s/ Hin Kwok Sheung           Dated: December 2, 2014

          Hin Kwok Sheung

          Chief Executive Officer

By: /s/Ben Choi                           Dated: December 2 , 2014

          Ben Choi

          Chief Financial Officer, Controller and Director

By: /s/Daniel Lo                          Dated: December 2 , 2014

          Daniel Lo

          Director

By: /s/ Robin Young                     Dated: December 2, 2014

          Robin Young

          Director, President

By: /s/Jia Charles Yao                Dated: December 2, 2014

           Jia Charles Yao

          Director

35