UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-K
(MARK ONE)

[X]     ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE
        SECURITIES EXCHANGE ACT OF 1934

                  For the fiscal year ended December 31, 2009

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE
        SECURITIES EXCHANGE ACT OF 1934

             For the transition period from               to

                        Commission File Number 001-32574

                            GOLDEN GATE HOMES, INC.
             (Exact name of registrant as specified in its charter)

             Delaware                              87-0745202
    (State or other jurisdiction      (I.R.S. Employer Identification No.)
  of incorporation or organization)

   855 Bordeaux Way Suite 200, Napa, California        94558
     (Address of principal executive offices)       (Zip Code)

                   Issuer's Telephone Number:  (707) 254-8880

      Securities registered under Section 12(b) of the Exchange Act: None

         Securities registered under Section 12(g) of the Exchange Act:

          Units of Common Stock and Warrants to Purchase Common Stock
          -----------------------------------------------------------

                    Common Stock, par value $.0001 per share
                    ----------------------------------------

                  Warrants to purchase shares of Common Stock
                  -------------------------------------------
                                (Title of Class)

     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 Section 15(d) of the Exchange Act.
Yes [ ] No [X]
<PAGE>
     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the  preceding  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 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. [ ]

     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  the  definitions  of  "large  accelerated  filer,"  "accelerated filer" and
"smaller  reporting  company"  in  Rule  12b-2  of  the  Exchange  Act.

Large accelerated filer   [ ]            Accelerated filer          [ ]

Non-accelerated filer     [ ]            Smaller reporting company  [X]
(Do  not  check  if  smaller  reporting  company)

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

State the aggregate market value of the voting and non-voting common equity held
by  non-affiliates computed by reference to the price at which the common equity
was  last  sold, or the average bid and asked price of such common equity, as of
the  last business day of the registrant's most recently completed second fiscal
quarter:  $14,700.

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  the latest practicable date:  3,647,687 shares of common stock,
par  value  $0.0001  per share, 26,927,018 warrants and 31,609 units as of March
26,  2010.

                      DOCUMENTS INCORPORATED BY REFERENCE

None.
<PAGE>
                                PART  I.

ITEM  1.  BUSINESS

OVERVIEW.

EARLY  COMPANY  HISTORY

     The  Company has historically been a blank check company.  It was formed in
2005  under the name "JK Acquisition Company" (which was subsequently changed to
"JK  Acquisition  Corp."),  to serve as a vehicle for the acquisition, through a
merger,  capital  stock  exchange,  asset  acquisition or other similar business
combination with a then unidentified operating business.  On April 11, 2006, the
Company  completed its initial public offering (the "IPO") of equity securities,
raising  net  proceeds  of  $76,632,404.  On  September  6,  2006,  the Company,
Multi-Shot,  LLC  ("Multi-Shot")  and  various  other  parties  entered into the
Agreement  and Plan of Merger ("Merger Agreement") and related agreements.  Over
the  course  of  this  transaction,  the  parties twice amended the terms of the
Merger  Agreement  and twice extended the transaction.  On January 31, 2008, the
Company  announced  that  the special meeting of its stockholders to vote on the
proposed  merger with Multi-Shot had been cancelled.  The Company determined and
informed  Multi-Shot that the proposed merger would not receive the votes of its
stockholders required for approval.  The Merger Agreement expired on January 31,
2008,  and  the  proposed merger with Multi-Shot was abandoned. As a result, the
Company's Board of Directors determined it would be in the best interests of the
stockholders to distribute to stockholders holding shares of Common Stock issued
in  the  IPO  all  amounts  held  in  a  trust  fund  (net  of applicable taxes)
established  by  the Company at the consummation of the IPO into which a certain
amount  of  the  net  proceeds  from  the  IPO  had  been  deposited.

     Because  the  Company did not consummate a qualifying business combination,
the  Company's Board of Directors contemplated alternatives for preserving value
for  stockholders.  Ultimately,  the  Board  of  Director  proposed to amend the
Company's  certificate of incorporation to permit the continuance of the Company
as  a  corporation  beyond  the  time  currently  specified  in  the  Company's
certificate  of  incorporation.  The  Company's  stockholders  approved  this
amendment  to  the Company's certificate of incorporation.  After such approval,
the  Board  of  Director  began  seeking a company or companies that the Company
could  acquire  or  with  which  it  could  merge.

RECENT  CHANGE  IN  CONTROL

     Before  any  acquisition  or  merger of the type described in the preceding
paragraph  occurred, a change in control of the Company occurred on December 31,
2009  when  GGH,  Inc.  (formerly  Golden  Gate  Homes,  Inc.), a privately held
Delaware  corporation  ("GGH"),  acquired  from  James  P.  Wilson  and Keith D.
Spickelmier  1,935,382  and  1,584,923  shares  of  the  Company's common stock,
respectively,  theretofore  owned  by  them  separately,  for  an  aggregate  of
3,520,305  shares  of  common  stock,  representing  approximately  96.5% of the
outstanding shares of the Company's common stock and the controlling interest in
the  Company.  The  purchase  prices  paid for these shares were $171,875 to Mr.
Wilson  and  $140,625  to  Mr. Spickelmier.  Steven Gidumal and Brandon Birtcher
each  own  one-third of GGH, and two trusts of which Tim Wilkens is the trustee,
The  Wilkens  2000  Trust and The Wilkens 2003 Trust (the "Wilkens Trusts"), own
the remaining one-third of GGH.  Biographical information about Messrs. Gidumal,
Wilkens and Birtcher is set forth in "ITEM 10. DIRECTORS, OFFICERS AND CORPORATE
GOVERNANCE"  below.  The  funds  for  the purchase of the shares came personally
from  Messrs. Gidumal and Birtcher, and from the accounts of the Wilkens Trusts.
GGH  purchased  the shares to pursue a business opportunity through the Company.
For  more  information  about  this business opportunity, see "The Company's New
Business"  below.
                                        -1-
<PAGE>
     In  connection  with  the transaction described in the preceding paragraph,
James  P.  Wilson resigned from the Company's Board of Directors on December 31,
2009,  and  Steven  Gidumal  was  elected to the Board to fill the newly created
vacancy,  to serve along with Keith D. Spickelmier, who subsequently resigned as
a director on March 17, 2010, and was replaced by Tim Wilkens.  In addition, all
of  the  Company's then serving officers resigned, and the Company elected a new
slate  of  officers.  For  information about the new directors and officers, see
"ITEM  10.  DIRECTORS,  EXECUTIVE  OFFICERS  AND  CORPORATE  GOVERNANCE"  below.
Furthermore, the Company changed its corporate name to "Golden Gate Homes, Inc."
and  effected  a 1-for 35 reverse split of the Company's common stock to improve
the  Company's  capital  structure.  See  "ITEM  7.  MANAGEMENT'S DISCUSSION AND
ANALYSIS  OF  FINANCIAL CONDITION AND RESULTS OF OPERATIONS-CHANGES IN FINANCIAL
CONDITION-Liquidity  and  Capital  Resources".


THE  COMPANY'S  NEW  BUSINESS

GENERAL

     As  a  result  of  the  change  in  control  of the Company, the Company is
adopting  a  significant  change  in  its  corporate direction.  The Company has
decided  to focus its initial efforts on a plan of operation that would focus on
marketing  high-quality,  distressed  residential  properties  in  exclusive  US
markets (with an initial focus on California) to international buyers (primarily
from  China  and  other  parts  of Asia) through exclusive selling agreements or
consignment  arrangements.  In  the  event  that  the  Company  is successful in
completing a major capital raising transaction, it will also consider purchasing
similar  assets  for  resale  to  the  same  target  market.


INDUSTRY  BACKGROUND

     The  Company's  management believes that the recession in the United States
economy that began in December 2007 has created opportunities in the real estate
market.  CNNMoney.com  has  reported  that  this  recession, which is frequently
referred  to  as  "the  Great  Recession,"  is  generally regarded as "the worst
economic  downturn  since  the  Great  Depression." Huliq News has reported that
total  residential  foreclosures in the United States for the two years and nine
months  ending  with  the  third  quarter  of  2009 numbered 7,827,219, with the
possibility  of  the total number of foreclosures reaching 25 million before the
housing crisis ends. These adverse developments in the United States residential
market  have  had a devastating effect on housing prices. On September 29, 2009,
SEATTLEPI.COM  reported  that the S&P/Case-Schiller Home Price Index released on
that  date  indicated  that  home  prices in 20 metropolitan areas in the United
States  were  down  about  33%  from  a  mid-2006  peak.

     Due  to  the  current  economic  decline  and  the more restrictive lending
conditions  in  the  country,  the  demand for real estate is, and therefore the
prices real estate command are, currently low relative to recent levels. This is
reflective  in  the  higher  capitalization rates (indicating lower prices) that
real  estate buyers are asking and real estate sellers are willing to accept for
the  sale  of  their  properties.  The  lower  prices,  in  conjunction with the
continuing  low interest rates available in the market, makes this an attractive
period  to  market  U.S. real estate to foreign buyers, either through exclusive
sales  agreements  or  consignment  transactions,  or  if  financing can also be
obtained,  through  acquisition  and  resale  of  properties.
                                          -2-
<PAGE>
     With  the  gradual  resurgence  of  the United States economy and easing of
capital  restraints,  the  Company believes that properties acquired during this
period  should  experience  a  natural appreciation in value as demand improves.
The  Company  feels  that  the  forward looking U.S. stock market and the recent
upward  movement  of  the  S&P/Case-Schiller Home Prices Index indicate the real
estate market may have bottomed and a gradual climb into a stronger market cycle
may  be  expected, although there can be no assurance of this.  Tim Wilkens, the
Company's  Chief  Executive  Officer,  is  a  veteran of the Houston real estate
market  that  went  sour  in  the  mid 1980's as oil prices crashed.  During the
1980's,  Mr. Wilkens led the acquisition of over 600 properties in Houston.  Mr.
Wilkens  believes  that  an  opportune  time has arisen in many U.S. real estate
markets  akin  to the real estate market that emerged in Houston during the late
1980's.

     The  Company's  management believes that real estate developers, as well as
banks  and  lending institutions, are now reluctant owners and forced sellers of
properties.  Banks  are  facing  situations where state and local approvals have
expired,  documentation  for projects are lost or non-existent, and permits have
expired  or  need  to be secured.  The inventory of foreclosed REO ("real estate
owned"  by  banks)  town  homes  and  condominiums  in California (the Company's
primary  target  areas)  numbers  approximately  37,000  properties  that  need
resolution.

STRATEGY

     The  Company's  strategy is to distinguish itself and create a unique value
proposition.  Key  components  of  the  Company's  strategy  include:

     *     Use  the extensive background of the Company's new management in real
           estate  and  distressed  situations  to grow the Company's new
           business rapidly.
     *     Take  advantage  of  the  significant downturn in the residential
           property markets  in  selected areas  of the United States to capture
           large discounts on properties  to  provide  a  strong value
           proposition to its overseas buyers.  In situations  where the Company
           seeks to control or acquire properties for resale, it  will  strive
           to  do  so  at significant discounts to appraised value. Where
           projects  or  specific  properties have stalled or become unsellable
           for various reasons  related  to  the  lack or expiration of
           governmental approvals, lack of adequate  documentation,  the
           bankruptcy  of  the  developer  or cross-collateralization  problems,
           or  other  similar issues, the Company's new management has ample
           background to resolve such complex situations and add value for  the
           benefit  of  all  parties  involved.
     *     Use  a  rigid  selection  and,  where  applicable,  acquisition
           criteria regarding  properties  to  be  marketed.
     *     Leverage a proprietary property database that the Company is
           developing to facilitate finding properties to market, which includes
           many properties that are not  up  for  public  sale.
     *     Establish  a  growing  list  of  sellers  who want to access the
           Company's unique  overseas  distribution  network,  to  facilitate
           their  domestic  sales process.

                                        -3-
<PAGE>
     *     Use  a  unique,  exclusive sales and marketing distribution network
           within China  for  properties  to  be marketed and sold through the
           Company's marketing agreement with Premier Capital, Ltd. ("Premier
           Capital") a real estate brokerage firm  based  in  Hong  Kong  that
           is one of the largest sellers of international properties  in  China.
           The Company believes that this approach will attract new buyers
           (particularly land-ownership desirous Chinese citizens) for United
           States properties  to compensate in part for the lack of buyers
           currently in the market for  these  properties.
     *     Provide  property  management  expertise to support an expanding
           number of units  sold  or  owned  over  time.
     *     Provide  one-stop acquisition and management services to Chinese and
           other international buyers, including facilitating their access to US
           -Chinese lenders.
     *     Rapidly  turn  over  inventories  of  properties to Chinese and other
           international  buyers.  The  Company  will strive to sell entire
           projects within two  to  six months of their initial consignment or
           acquisition, as the case may be.  Rapid  turnover  of  properties
           should lead to an efficient use of capital.



                               Property Selection
                               ------------------

     The  Company's  management  will  make  all  decisions  in  identifying and
selecting  prospective  target  properties.  The  Company  will  use  a rigorous
selection  process  to  bring  value to its buyer-clients.  In searching for and
evaluating  prospective  target  properties,  the  Company  intends  to  use the
following  practices:

     *     A focus on residential properties, which in many instances may be
           suitable to  being  rented  by  their  overseas  owners  to  third-
           parties;
     *     Identification  of  foreclosed and REO properties by working directly
           with banks  and  leading  brokers;
     *     Focus  on  well-built,  new  construction  near  major  cities;
     *     Monitoring of market forecasts to determine which real estate markets
           will recover/appreciate  sooner  while  still  appealing  to  the
           Company's overseas clients;
     *     Evaluation  of  macro  factors  such  as  comparable sales, rental
           demand, interest  rates,  location,  occupancy,  county  and regional
           population and job growth  factors;
      *    Pre-approval  of  properties  (where  possible)  by  property
           lenders  so approvals  of  financing  for  buyers  move  more
           quickly;
     *     Confirmation  of  projects'  marketability  with  Premier  Capital;
           and
     *     Use of the Company's ability to close quickly, when appropriate, to
           secure the  lowest  consignment  or  acquisition  price,  as  the
           case  may  be.

                                          -4-
<PAGE>
     The Company has established general attributes and criteria for prospective
target  properties.  In  evaluating a prospective target property, the Company's
management  will  consider,  among  other  factors,  the  following:

     *     The  location,  quality  and perceived desirability and price/value
           of the project;
     *     Management's  understanding  of  re-sale  and  other  conditions  of
           the particular  location  and  market;
     *     Management's  assessment of the attractiveness of the timing of  the
           consignment  or  acquisition;
     *     Management's assessment of the financial attractiveness of a
           particular  target  relative  to  other available targets, and its
           potential for upside  appreciation  and  return  on  investment;
     *     For  potential acquisition targets, capital requirements and
           management's  assessment  of  the  ability  to  finance  a particular
           target;
     *     Macro-economic  trends;
     *     Environmental  risks;
     *     Physical  condition  of  the  target;
     *     Management's assessment of the ability to manage a particular
           target and, for potential acquisitions, its ability to redevelop and
           improve the target;  and
     *     The  overall  profit  expectation and the return on capital
           expectation of the  project  or  target.

When  considering  commercial properties in the future, the Company's management
will  also  consider  the  following:

     *     Occupancy  in  the  target  vs.  surrounding  market;
     *     Building  design  obsolescence;
     *     Job  growth  forecasts;
     *     Tenant  profile;  and
     *     Lease  rollover  and  potential  for  rent  appreciation.

     These  criteria  are not intended to be exhaustive. Any evaluation relating
to the merits of a particular property will be based, to the extent relevant, on
the  above  factors  as  well  as  other considerations believed relevant by the
Company's  management  in  effecting  a  consignment  transaction or acquisition
consistent  with  the  Company's business objective. In evaluating a prospective
target,  the  Company  will  conduct an extensive due diligence review that will
encompass,  among other things, physical inspection of the property or assets, a
review of environmental, zoning, permitted use and title issues, and a review of
all  relevant  financial  and  other  information  that is made available to the
Company.  This  due  diligence  review will be conducted either by the Company's
management  or  by  unaffiliated  third  parties  the  Company  may  engage.

                                          -5-
<PAGE>
     The time and costs required to select and evaluate a target property and to
structure  and  complete  the  consignment  or  acquisition  cannot presently be
ascertained with any degree of certainty. Any costs incurred with respect to the
identification  and  evaluation  of  a prospective target that is not ultimately
completed  will result in a loss to the Company and reduce the amount of capital
available  to  otherwise  complete  other  transactions.

     To  the  extent the Company acquires financially poor assets or properties,
the  Company  may  be  affected  by  numerous risks inherent in the business and
operations of such properties or assets.  Although the Company's management will
endeavor  to  evaluate  the risks inherent in a particular property acquisition,
the Company can make no assurances that it will properly ascertain or assess all
significant  risk  factors.


MARKETING

     As a communist (i.e., "communal") country, all land in China is property of
the  State.  Home  residents lease their homes under land leases, but no Chinese
citizen  ''owns''  the  land  under  his or her home.  Among the expanding upper
middle  class  to  wealthy  class in China, home ownership had been unattainable
under  prior  Chinese  law,  but that has changed in recent years.  However, the
government is now allowing its citizens to invest overseas, including purchasing
overseas  residential  properties.  Executives  of more than 100,000 state-owned
enterprises  are  being  encouraged  to  travel  internationally to invest their
capital.  Previously,  travel  visas  were unattainable.  Despite the changes in
Chinese  law  to  encourage  overseas  investment,  to  the best of management's
knowledge,  no  supplier  of  U.S. residential properties has stepped in to fill
this  need.  The Company plans on introducing Chinese buyers to U.S. residential
properties  where they currently have no access.  The Company plans on providing
"one-stop"  shopping  to  the  "retail"  buyer  that  wants  to  own one or more
California  properties.  The  Company  expects that it will, as an assistance to
its  overseas  buyers:  (i)  perform  the property due diligence, (ii) assist in
arranging  the  bank financing, (iii) manage the buyer's property (find tenants,
collect rents, pay bills from owner account, etc.) through a separate affiliated
property  management  firm,  and  (iv) send quarterly statements to the property
buyer/owner.

     The Company will focus on marketing properties to residents of five leading
Asian cities: Hong Kong, Shanghai, Beijing, Guangzhou and Shenzhen, which have a
total  population  of  almost 60 million people.  The table below sets forth the
respective  populations  of  these  five  cities.

                                          -6-
<PAGE>
                POPULATIONS OF THE FIVE LEADING CITIES OF CHINA


                              City       POPULATION
                              ----       ----------
                            Shanghai     18,900,000
                            --------     ----------
                             Beijing     17,400,000
                             -------     ----------
                             Shenzhen     8,600,000
                             --------     ---------
                            Guangzhou     7,700,000
                            ---------     ---------
                            Hong Kong     7,000,000
                            ---------     ---------

          The  table  set  forth  after  this  paragraph reflects the comparable
affordability of a California home to a Chinese citizen.  The column "Yuan Index
to Buy Home" compares the purchase price that a Chinese national would have been
required  to  pay in 2005, the base year, for the average California home (based
on  the  then average price of such home and the then dollar/yuan exchange rate)
compared  to what the Chinese citizen would have been required to pay in each of
the  years  listed in the table on a 100-point scale.  The table reveals that by
2009,  Chinese  citizens  would  have been required to pay only 39% of the price
they  would  have  been required to spend in order to buy the average California
home  in  2005.  Management believes that this development greatly increases the
attractiveness  of  California  properties  to  Chinese  citizens.


               AFFORDABILITY OF CALIFORNIA HOME IN CHINESE YUAN

                Avg. CA          Yuan /     Avg. CA           Yuan Index to
       Year     Home Price($)(3) 1US$(2)  Home Price(Yuan)     Buy Home(1)
       ----     -------------     ----     ----------------     --------

       2009*    $248,000*          6.83     1,693,840             39.1

       2008     $346,400           6.85     2,372,840             54.8

       2007     $560,300           7.62     4,269,486             98.6

       2006     $556,400           7.99     4,445,636            102.7

       2005     $522,700           8.28     4,327,956            100.0

       2004     $450,800           8.28     3,732,624             86.2


*     Forecast from the California Realtors website

(1)   Index uses 2005 as the base year = 100. Note 2005 was the last year before
      the Yuan began to float.
(2)   Exchange rate as of June of each year, per Bloomberg.
(3)   Avg. CA Home Price from "California Realtors"' website

                                      -7-
<PAGE>


STRATEGIC  PARTNER  AND  EXCLUSIVE  MARKETING  AGREEMENT

     The  Company has entered into an exclusive marketing agreement with Premier
Capital,  which  management  believes  is  critical  to  the  Company's success.
Management  believes  that  Premier  Capital  is  one  of  the  most  reputable
international  real  estate  consulting  firms  in Asia and China, and is highly
regarded  for  selling international properties throughout China and other parts
of  Asia.  Premier  Capital  was  founded in Hong Kong in 1988 and expanded into
China  in  1997.  It  has  Chinese  offices  in  Hong  Kong,  Beijing, Shanghai,
Guangzhou  and  Shenzhen,  the  five  Asian  cities  on  which  the Company will
initially  focus.  Premier  Capital also has offices in Australia, Singapore and
New  Zealand.

     Under  the exclusive marketing agreement, the Company has appointed Premier
Capital  as  the  Company's exclusive agent for purposes of marketing properties
purchased by the Company and approved by Premier Capital ("Approved Properties")
in Hong Kong and mainland China.  Premier Capital has agreed not to list, market
or  sell any properties in California, Nevada, Arizona or Washington without the
Company's  approval.  The  Company  will pay the bulk of the expenses arising in
connection  with  the  marketing  of Approved Properties in Hong Kong and China,
although  Premier  Capital  will  bear  some of these expenses as well.  For its
services,  Premier  Capital  will be paid a customary brokerage fee for Approved
Properties  sold  in Hong Kong and China.  The agreement is for a four-year term
ending  in  the  middle  of  October 2014 and will renew for additional one-year
terms  so long as the Company provides at least 100 Approved Properties per year
pursuant  to  the  agreement.  The  agreement is the result of an almost 20-year
personal  relationship  between  Tim  Wilkens,  the  Company's  Chief  Executive
Officer,  and  Philip  Leung, the owner of Premier Capital.  Management believes
that,  so  long  as the Company performs satisfactorily under the agreement, the
agreement  will be renewed.  However, if the agreement were to terminate for any
reason, the Company would be forced to find an alternative third party to market
the  Company's  properties in China and other parts of Asia.  The Company has no
assurance  that  it  would  be  able to find such an alternative third party, in
which case the Company's business, prospects, financial condition and results of
operations  would  most  likely  be  materially  and  adversely  affected.


PLAN  OF  OPERATION

GENERAL
-------

     The  Company  intends  to  engage  primarily  in  marketing  high-quality,
distressed residential properties in exclusive US markets (with an initial focus
on  California) to international buyers (primarily from China and other parts of
Asia)  through  exclusive selling agreements or consignment arrangements. In the
event  that  the  Company  is  successful  in  completing  a  capital  raising
transaction,  it  will also consider purchasing similar assets for resale to the
same  target  market.

                                          -8-
<PAGE>



PROPOSED  INITIAL  ACTIVITIES
-----------------------------

     Thus  far,  the Company has been engaged in preliminary activities relating
to  the  launch  of  the  Company's  plan  of  operation. The Company expects to
commence  its  plan of operation in earnest by the spring of 2010.  However, the
commencement  of  this  plan  of operation depends in part on the procurement of
consignment  properties  and  necessary  capital,  as  discussed  in  "ITEM  7.
MANAGEMENTS'  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION AND RESULTS OF
OPERATIONS-CHANGES  IN  FINANCIAL  CONDITION-Liquidity  and  Capital Resources".

     The  Company's  initial  business  objectives are to establish a meaningful
number  of  sales  of  residential properties to international buyers (primarily
from  China  and  other  parts  of  Asia)  by obtaining exclusive rights to sell
specific  U.S.  properties (with an initial focus on California).  These selling
rights  may  come  in  the  form  of  exclusive  selling agreements, consignment
agreements  or  outright  ownership  of  certain properties.  The use of each of
these  various  selling  strategies will depend on the willingness of sellers to
engage  with  the  Company  on  the  exclusive sale of properties, the Company's
ability  to  complete such sales to its international buyer client base, and the
access  and availability of capital to the Company.  Management believes that an
adequate  number  of properties are available to be marketed overseas, such that
this  will not be a limiting factor.  The Company believes it will have adequate
capital  to  achieve  its  initial  business  objectives,  particularly upon the
completion  of the raising of its "seed" capital from its management and persons
working  with  the  Company as described in "ITEM 7. MANAGEMENTS' DISCUSSION AND
ANALYSIS  OF  FINANCIAL CONDITION AND RESULTS OF OPERATIONS-CHANGES IN FINANCIAL
CONDITION-Liquidity  and  Capital Resources".  To the extent that the Company is
able  to complete larger capital raising transactions, it will be able to pursue
a  more  expansive  plan  of  operation.


EMPLOYEES.

     The  Company currently has 6 employees, of which 2 are full-time employees.


ITEM  1A.  RISK  FACTORS.

             Statements  in this Annual Report under the captions "BUSINESS" and
"MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL CONDITION AND RESULTS OF
OPERATIONS",  as  well  as  oral  statements  that  may  be made by us or by our
officers,  directors  or  employees  acting  on  our  behalf,  that  are  not
historical  fact  constitute "forward-looking  statements"  within  the  meaning
of  the  Private  Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown  risks,  uncertainties  and  other  factors
that  could  cause  our actual results  to  be  materially  different  from  the
historical  results  or  from  any  results  expressed  or  implied  by  such
forward-looking  statements.  Such  factors include, but are not limited to, the
risk factors set forth below. We do not intend  to  update  any  forward-looking
statements  to  reflect  events  or  circumstances  after  the  date  of  such
statements  or  to  reflect  the  occurrence  of  anticipated  or  unanticipated
events.

                                    -9-
<PAGE>
OUR EXTREMELY LIMITED HISTORY MAKES AN EVALUATION OF US AND OUR FUTURE EXTREMELY
DIFFICULT,  AND  PROFITS  ARE  NOT  ASSURED.

     The  Company has historically been a blank check company.  It was formed in
2005  to serve as a vehicle for the acquisition, through a merger, capital stock
exchange,  asset  acquisition  or other similar business combination with a then
unidentified operating business.   As described in "ITEM 1. BUSINESS--OVERVIEW--
Early  Company  History",  on  September  6,  2006,  the Company, Multi-Shot and
various  other parties entered into the Merger Agreement and related agreements.
Over  the course of this transaction, the parties twice amended the terms of the
Merger  Agreement  and twice extended the transaction.  On January 31, 2008, the
Company  announced  that  the special meeting of its stockholders to vote on the
proposed  merger  with  Multi-Shot  had  been  cancelled  because  the  Company
determined  that  the  proposed  merger  would  not  receive  the  votes  of its
stockholders required for approval.  The Merger Agreement expired on January 31,
2008,  and  the  proposed  merger  with  Multi-Shot  was  abandoned.

     Because  the  Company did not consummate a qualifying business combination,
the  Company's Board of Directors contemplated alternatives for preserving value
for  stockholders.  Before any such action was taken, a change of control of the
Company  occurred  on December 31, 2009 when GGH acquired from the Company's two
largest  stockholders  shares  of  the  Company's  common  stock  representing
approximately  96.5%  of  the  outstanding  shares  of  the  common  stock.  GGH
purchased  the  shares  to  pursue  a  business opportunity through the Company,
pursuant  to  which the Company will seek to sell residential real estate in the
United  States  (initially primarily in California) to international home buyers
(residing  initially in China).   See "ITEM 1. BUSINESS--OVERVIEW--Recent Change
in  Control".  Currently,  we  have  entered  into several letters of intent for
option  agreements  to  acquire  residential  properties  for  sale  through our
distribution  partner  in China.  However, to date, we have established no track
record  of  selling  United  States  properties internationally.  In view of our
extremely  limited  operating  history, you may have difficulty in evaluating us
and our business and prospects.  You must consider our business and prospects in
light  of  the  risks,  expenses  and  difficulties  frequently  encountered  by
companies  in  their  early  stage  of  development.


     WE  HAVE  CERTAIN  CAPITAL  NEEDS, AND THE PROCUREMENT OF FINANCING TO MEET
THESE  NEEDS  IS  UNCERTAIN.

     We  currently  have  no  revenues.  Our  future  liquidity will depend upon
numerous  factors,  including  the  success  of  our  residential property sales
efforts and our capital raising activities.  We believe we have sufficient funds
to  run  our  business  for  at  least  the next 12 months but for our long-term
stability  we  will  need funds to finance our day-to-day needs, if sales do not
materialize  within  that  timeframe.  We plan to finance our operations for the
next  12  months through cash flow from consignment sales, private placements of
debt  and  equity,  possible  bank  borrowings  and  possible  joint  venture
arrangements.  In  addition,  we  are  currently  looking  for  a source of bank
financing  to  provide  financing for our international clients to allow them to
complete  their  residential  property  acquisitions.  However,  there can be no
assurance that we will find such a mortgage lending source.  Moreover, there can
be  no  assurance  that  we  will  realize  the  unit  sales  that  we  are  now
anticipating.  If  our  revenues  do not materialize for whatever reason, we may
have  limited  ability  to expend the capital necessary to undertake or complete
consignment  or  acquisition  programs.

     WE  DEPEND  ON  CERTAIN  KEY  PERSONNEL.

     We  substantially  depend  upon the efforts and skills of Steven Gidumal, a
director  and the Chairman of the Company, Tim Wilkens, a director and the Chief
Executive  Officer  of  the  Company  and Brandon Birtcher, the President of the
Company.  The loss of Mr. Gidumal's, Mr. Wilkens' or Mr. Birtcher's services, or
their  inability  to  devote  sufficient  attention  to  our  operations,  could
materially  and  adversely  affect our operations.  We currently do not maintain
key  man  life  insurance  on  Mr.  Gidumal,  Mr.  Wilkens  or  Mr.  Birtcher.

                                    -10-
<PAGE>
     OUR  CURRENT MANAGEMENT RESOURCES MAY NOT BE SUFFICIENT FOR THE FUTURE, AND
WE  HAVE  NO  ASSURANCE  THAT  WE  CAN  ATTRACT  ADDITIONAL QUALIFIED PERSONNEL.

     There  can  be  no  assurance  that  the  current  level  of  management is
sufficient  to  perform  all  responsibilities  necessary  or  beneficial  for
management to perform.  Our success in attracting additional qualified personnel
will  depend  on  many  factors,  including  our  ability  to  provide them with
competitive  compensation arrangements, equity participation and other benefits.
There  is  no assurance that (if we need to) we will be successful in attracting
highly  qualified  individuals  in  key  management  positions.

     LIMITATIONS  ON  CLAIMS  AGAINST  OUR  OFFICERS  AND  DIRECTORS,  AND  OUR
OBLIGATION  TO  INDEMNIFY  THEM, COULD PREVENT OUR RECOVERY FOR LOSSES CAUSED BY
THEM.

     The  corporation law of Delaware allows a Delaware corporation to limit the
liability  of its directors to the corporation and its stockholders to a certain
extent,  and  our  Third  Amended  and Restated Certificate of Incorporation has
eliminated  our  directors'  liability  to  the  maximum extent permitted by the
corporation  law  of  Delaware.  Moreover,  our  Bylaws  provide  that  we  must
indemnify  each  director,  officer, agent and/or employee to the maximum extent
provided  for  by the corporation law of Delaware.  Further, we may purchase and
maintain  insurance  on  behalf  of  any such persons whether or not we have the
power  to  indemnify  such  person  against  the  liability  insured  against.
Consequently, because of the actions or omissions of officers, directors, agents
and  employees,  we  could  incur  substantial  losses  and  be  prevented  from
recovering  such  losses  from  such persons.  Further, the Commission maintains
that indemnification for liabilities arising under the Securities Act is against
the  public  policy  expressed  in  the  Securities  Act,  and  is  therefore
unenforceable.

        MANAGEMENT  OWNS  A CONTROLLING PERCENTAGE OF OUR OUTSTANDING STOCK, AND
CUMULATIVE  VOTING  IS  NOT  AVAILABLE  TO  STOCKHOLDERS.

     Our  current  management,  Steven  Gidumal, Tim Wilkens (through two family
trusts he controls) and Brandon Birtcher, currently own (directly or indirectly)
approximately  96.5% of our outstanding common stock (considered on an undiluted
basis)  through  their  ownership  of  all of the shares of common stock of GGH.
Although  Section  214  of  the  Delaware  General  Corporation  Law  allows for
cumulative  voting  if a corporation's certificate of incorporation specifically
provides  for  it,  the  Company's  Third  Amended  and  Restated Certificate of
Incorporation  has  no provision for cumulative voting.  Accordingly, the holder
or holders of a majority of our outstanding shares of common stock may elect all
of  our  directors.  Management's  large percentage ownership of our outstanding
common  stock  helps  enable  them  to maintain their positions as such and thus
control  of  our  business  and  affairs.

     WE  MAY  EXPERIENCE  RAPID  GROWTH, AND IN SUCH CASE WE WILL NEED TO MANAGE
THIS  GROWTH  EFFECTIVELY.

     We  believe that, given the right business conditions and opportunities, we
may  expand  our  operations rapidly and significantly.  If rapid growth were to
occur,  it  could  place a significant strain on our management, operational and
financial  resources.  To  manage  any  significant growth of our operations, we
will  be  required  to  undertake  the  following  successfully:

                                      -11-
<PAGE>
     *     Manage  relationships with various strategic partners and other third
           parties;
     *     Hire  and retain skilled personnel necessary to support our business;
     *     Train  and  manage  a  growing  employee  base;  and
     *     Continually develop our financial and information management systems.

If  we  fail to make adequate allowances for the costs and risks associated with
this  expansion  or  if  our systems, procedures or controls are not adequate to
support  our  operations, our business could be harmed.  Our inability to manage
growth  effectively  could  materially adversely affect our business, results of
operations  and  financial  condition.



     REAL ESTATE PRICES CAN BE VOLATILE, WHICH MAY AFFECT OUR ABILITY TO ATTRACT
BUYERS  AT  THE  PRICES  WE  NEED  TO  MAKE  A  PROFIT.

     Our revenues, profitability and future growth and the carrying value of our
properties  will  depend  substantially on the prices we realize for the sale of
our  consigned and owned units.  Our realized prices will also affect the amount
of cash flow available for subsequent acquisitions and our ability to borrow and
raise additional capital.  Residential homes are currently in surplus supply and
their  prices  are  subject  to fluctuation in response to changes in supply and
demand.  Historically,  the  markets for California residential real estate have
shown  consistent  growth  although  the  State  went  through a period of price
deflation  in  the 1993 - 1995 timeframe, and the California market is likely to
continue  to be volatile during the current recession.  Despite the historically
low  current  prices  for  California  residential  properties,  there can be no
assurance  that  even  lower  prices  will  not  be  experienced  in the future.
Residential  real  estate price movements cannot be predicted with certainty.  A
substantial  or  extended  decline  in  California  residential  home prices may
materially  and  adversely  affect  our  future  business,  financial condition,
results  of  operations, liquidity and ability to finance property acquisitions.

     THE  SUCCESS  OF  OUR BUSINESS DEPENDS ON OUR ABILITY TO SELECT RESIDENTIAL
PROJECTS  THAT  ULTIMATELY  PROVE  SUCCESSFUL  ECONOMICALLY.

     The  economic  success  of  any project will depend on a number of factors,
including  our  ability  to  discern  and  estimate  the quantity of residential
projects  we  can  sell  at  a price sufficient to make a profit after corporate
overhead  and any financing carrying costs.  All of these factors affect whether
or  not  a  project  will ultimately generate cash flows sufficient to provide a
suitable return on investment.  Our assessments and estimations of these factors
(which  are inherently inexact and uncertain) may prove inaccurate.  Although we
have  criterion  for  selecting  the residential projects that we will decide to
pursue,  we  might  stray  from  it.  Accordingly,  we  will  have  significant
flexibility  in selecting such projects.  There can be no assurance that we will
be able to identify economically successful residential projects or that we will
be  able  to pursue these projects successfully even if identified.  Our failure
to  select  economically  successful  residential  projects  will materially and
adversely  affect  our  business, results of operations and financial condition.
We  will  be  constantly  challenged  to  add  new  projects  through  further
consignments  or  further  acquisitions  of  new  properties.  There  can  be no
assurance  that  our  acquisition  efforts  will  be  successful  in  adding new
profitable  projects.  If we fail to identify new projects, our future revenues,
profitability  and  cash  flows  will  be  adversely  impacted.

                                        -12-
<PAGE>
     WE  ARE CURRENTLY FOCUSING OUR PROPERTY CONSIGNMENT AND ACQUISITION EFFORTS
IN  ONLY  ONE GEOGRAPHICAL AREA, AND OUR CURRENT LACK OF GREATER DIVERSIFICATION
ENTAILS  RISK.

     Currently,  all  of our potential consignment and acquisition contracts are
in  the State of California, although we may in the future explore properties in
Nevada,  Washington, Arizona and Florida.  To our foreign clients, California is
generally  considered  a  desirable,  travel-accessible  destination.  At  the
present,  our  success  depends  entirely  upon our ability to locate and secure
properties  on a profitable basis in California.  There can be no assurance that
we  will be able to do this, and that we will not encounter one or more problems
arising from the particular legal, economic, environmental and market conditions
of  California.  Our  current lack of diversification beyond California may make
our results of operations more volatile than they would be if we were seeking to
sell  residential  properties  in  more  than  one  area.


     OUR INABILITY TO PROCURE ADEQUATE INSURANCE COVERAGE FOR CERTAIN OCCURANCES
COULD  ADVERSELY  AFFECT  OUR  BUSINESS.

     Presently, as we close on projects under contract, we intend to broaden our
insurance  coverage.  However,  we  may  choose not to obtain insurance for some
risks if we believe the cost of available insurance is excessive relative to the
risks  presented.  In  addition, some risks may either not be fully insurable or
not  insurable at all.  Even if we broaden our insurance coverage, our insurance
would probably not cover all potential claims or may not adequately indemnify us
for  all  liability to which we will be exposed.  Any liability or legal defense
expenses  not  covered  by  insurance  or exceeding our insurance coverage could
materially  and  adversely  affect our business, operating results and financial
condition.  Moreover, we do not currently carry business interruption insurance.

     WE  WILL RELY ON A NUMBER OF THIRD PARTIES, AND SUCH RELIANCE EXPOSES US TO
A  NUMBER  OF  RISKS.

     Our  operations  will  depend  on  a number of third parties.  We will have
limited  control  over these third parties.  We will rely on Premier Capital, an
international  seller  of  real  estate  properties that was founded in 1988 and
expanded  into  China  in  1997.  We  believe that Premier Capital is one of the
leading  sellers  of  international  properties to Chinese citizens.  We will be
reliant  upon  Premier  Capital's  ability  to  bring  potential  buyers  to
presentations  of  the Company's real estate in the five leading cities of China
and  to follow up on all leads with prospective Chinese buyers.  The Company has
an  exclusive  four-year  agreement  with  Premier Capital, which limits Premier
Capital  to  sell  exclusively  the  Company's properties located in California,
Nevada,  Arizona  and  Washington  within China, and the agreement automatically
renews  for  one-year  terms  upon  the satisfaction of certain conditions.  See
"ITEM  1.  BUSINESS  - OVERVIEW-- The Company's New Business - Strategic Partner
and  Exclusive  Marketing  Agreement".  We  will  also rely upon the services of
California  based  banks  to  provide  mortgage  financing  to our international
buyers.  The  Company  currently  is  in  discussion  with  a  number  of  banks
interested  in making mortgage loans to Chinese citizens, and while the level of
interest in partnering with the Company appears high, there is no guarantee that
such  a  relationship  can  be  achieved.  In  addition,  we  will rely upon our
acquisition  team  to  identify  promising  consignment, auction and acquisition
properties  suitable for our international clientele.  Overall, our inability to
maintain  satisfactory  relationships  with  the  requisite  third  parties  on
acceptable  commercial  terms,  or the failure of such third parties to maintain
the  quality  of  services  they  provide  at  a  satisfactory  standard,  could
materially  adversely  affect  our business, results of operations and financial
condition.

                                      -13-
<PAGE>

     THE  UNAVAILABILITY OR HIGH COST OF CONSIGNMENT PROPERTIES COULD MATERIALLY
ADVERSELY  AFFECT  US.

     Either  shortages  or increases in the cost of consignment properties could
delay  or  adversely  affect  our  operations,  which could materially adversely
affect our business, financial condition and results of operations.  These costs
may  increase further, and necessary consignment properties may not be available
to  us  at  economical  prices.

     WE  ARE  SUBJECT  TO  COMPLEX LAWS AND REGULATIONS, INCLUDING ENVIRONMENTAL
REGULATIONS, WHICH CAN ADVERSELY AFFECT THE COST, MANNER OR FEASIBILITY OF DOING
BUSINESS.

          Acquiring,  completing,  renovating and selling residential properties
are  subject to extensive laws and regulations, including environmental laws and
regulations.  We  may  be  required  to  make  large expenditures to comply with
environmental  and  other  governmental  regulations.  Under  these  laws  and
regulations,  we  could  be  liable  for  personal  injuries,  property  damage,
remediation  and  clean-up  costs  and  other environmental damages.  Failure to
comply  with  these  laws  and  regulations also may result in the suspension or
termination  of  our  operations  and  subject  us  to administrative, civil and
criminal  penalties.  Moreover,  these laws and regulations could change in ways
that  substantially  increase our costs.  Accordingly, any of these liabilities,
penalties,  suspensions,  terminations  or  regulatory  changes could materially
adversely  affect  our  financial  condition  and  results  of  operations.


     CHANGES  IN  FOREGN  CURRENCY  EXCHANGE  RATES  AND  INTEREST  RATES  COULD
ADVERSELY  AFFECT  OUR  BUSINESS.

     As a company that will focus on marketing real estate located in the United
States  to  foreign  buyers,  we  will  be  exposed  to  certain  market  risks,
specifically  with  regard  to foreign currency exchange risks (and initially in
particular  the  dollar/yuan  exchange  rate) and interest rates.  While we will
monitor these exposures, we currently have no plan to manage these risks through
hedging  or other derivatives transactions.  As a result, unfavorable changes in
foreign  currency  exchange  rates  and  interest  rates  could  affect  the
affordability  of our properties to prospective foreign buyers, which could have
a  substantial  adverse  effect  on  our  financial  condition  and  results  of
operations.

     OUR  COMPETITORS MAY HAVE GREATER RESOURCES, WHICH COULD ENABLE THEM TO PAY
A  HIGHER  PRICE  FOR  PROPERTIES  AND TO BETTER WITHSTAND PERIODS OF LOW MARKET
PRICES  FOR  RESIDENTIAL  PROPERTIES.

     The  residential  real  estate  industry  is  intensely competitive, and we
compete with other companies that have substantially larger financial resources,
operations,  staffs  and  facilities.  Many of these companies not only develop,
purchase  and  sell  residential  properties  but  also  carry  on  construction
operations and market properties on a regional or national basis. Such companies
may be able to pay more for residential properties or develop, evaluate, bid for
and  purchase a greater number of properties and prospects than our financial or
human  resources  permit. In addition, such companies may have a greater ability
to continue acquisition activities during periods of low home market prices. Our
ability  to  acquire additional properties and to sell them profitability in the
future  will  be  dependent  upon  our  ability  to evaluate and select suitable
properties  and  to consummate transactions in a highly competitive environment.

                                    -14-
<PAGE>
     OUR  AUTHORIZED  PREFERRED  STOCK  EXPOSES  HOLDERS  OF OUR COMMON STOCK TO
CERTAIN  RISKS.

     Our  Third Amended and Restated Certificate of Incorporation authorizes the
issuance  of  up  to  1,000,000 shares of preferred stock, par value $0.0001 per
share.  The authorized but unissued preferred stock constitutes what is commonly
referred  to as "blank check" preferred stock.  This type of preferred stock may
be  issued  by  the  Board  of  Directors  from  time  to  time on any number of
occasions,  without  stockholder  approval,  as  one  or more separate series of
shares  comprised  of  any  number  of  the  authorized  but  unissued shares of
preferred  stock, designated by resolution of the Board of Directors stating the
name  and  number of shares of each series and setting forth separately for such
series  the  relative  rights, privileges and preferences thereof, including, if
any,  the:  (i)  rate  of  dividends  payable  thereon;  (ii)  price,  terms and
conditions  of  redemption;  (iii)  voluntary  and  involuntary  liquidation
preferences; (iv) provisions of a sinking fund for redemption or repurchase; (v)
terms of conversion to common stock, including conversion price, and (vi) voting
rights.  Such  preferred stock may provide our Board of Directors the ability to
hinder or discourage any attempt to gain control of us by a merger, tender offer
at  a  control  premium  price,  proxy  contest or otherwise.  Consequently, the
preferred  stock  could  entrench  our  management.  Currently,  no  shares  of
preferred  stock  had been issued, nor is there any intention to issue preferred
shares  at  this  time.


     OUR  COMMON  STOCK  HAS  EXPERIENCED  ONLY  LIMITED  TRADING.

     Our  Common  Stock  is  quoted  and traded in limited quantities on the OTC
Electronic  Bulletin  Board  in  the  United  States  under the symbol "GNGT.OB"
Until  shares  of  our common stock become more broadly held and orderly markets
develop  and  even  thereafter,  the  prices  of  our common stock may fluctuate
significantly.

ITEM  1B.  UNRESOLVED  STAFF  COMMENTS.

     We  have  received  no  written  comments regarding our periodic or current
reports  from  the staff of the Securities Exchanged Commission that were issued
180  days  or  more  preceding  the  end of our 2007 fiscal year and that remain
unresolved.

ITEM  2.  PROPERTIES.

     We  maintain  our  executive  offices at 855 Bordeaux Way, Suite 200, Napa,
California 94558. Our mailing address is Golden Gate Homes, Inc., P.O. Box 2490,
Napa,  California  94510.

ITEM  3.  LEGAL  PROCEEDINGS.

     To  the  knowledge  of management, there is no litigation or administrative
proceeding  currently  pending or contemplated against us or any of our officers
or  directors  in  their  capacity  as  such.

                                        -15-
<PAGE>
     PART  II.

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

     The shares of the Company's common stock, warrants, and units are currently
quoted  on  the  Over  the  Counter  Bulletin  Board  under the symbols GNGT.OB,
GNGTW.OB  and  GNGTU.OB,  respectively. Each unit of the Company consists of one
share of Company common stock and two redeemable common stock purchase warrants.
The  Company  warrants became separable from the Company common stock on May 11,
2006. The warrants entitle holders to purchase from the Company shares of common
stock at a full share equivalent price of $525 per share (after giving effect to
the  1-for-35  reverse stock split), commencing the later of the completion of a
business  combination  or  April  11,  2007. The Company warrants will expire by
their terms at 5:00 p.m., New York City time, on April 10, 2010, or earlier upon
redemption.  However,  because  April  10,  2010  is a Saturday, the Company has
determined  that  it will allow holders of the warrants to exercise the warrants
until  5:00 p.m., New York City time, on Monday, April 12, 2010, although due to
the  high  exercise  price,  management  does  not  expect  any warrants will be
exercised.  Prior  to  April  11,  2006, there was no established public trading
market  for  our  common  stock.

     The  Company  does  not currently have any authorized or outstanding equity
compensation  plans.

     The  following  table  sets  forth, for the calendar quarter indicated, the
quarterly  high  and low sales prices of our common stock, warrants and units as
reported on the Over the Counter Bulletin Board for the years ended December 31,
2009  and  2008,  and  does not give effect to the 1-for-35 reverse stock split.

                           Common  Sock        Warrants             Units
Quarter  Ended            High    Low      High       Low      High       Low
------------------------------------------------------------------------------

March  31,  2009        $0.03   $0.0021   $0.0001   $0.0001   $0.011    $0.011

June  30,  2009         $0.0033 $0.0025      n/a      n/a     $0.011    $0.011

September  30, 2009     $0.049  $0.004    $0.0001   $0.0001   $0.011    $0.011

December  31,  2009     $0.041  $0.0055   $0.0001   $0.0001   $0.013    $0.013

     Source:  Bloomberg  historical  pricing.  Does  not give effect to 1-for-35
reverse  stock  split.

                         Common  Sock         Warrants             Units
Quarter  Ended           High     Low      High      Low        High      Low

March  31,  2008       $6.50    $5.54     $0.2001  $0.0002   $6.25     $5.75

June  30,  2008        $6.34    $0.02     $0.0100  $0.0001   $6.15     $5.80

September  30,  2008   $0.05    $0.01     $0.0070  $0.0001   $0.03     $0.03

December  31,  2008    $0.02    $0.01     $0.0050  $0.0001   $0.03     $0.02

                                        -16-
<PAGE>
HOLDERS

     As of December 31, 2009, there were approximately five holders of record of
our  common  stock,  three  holders of record of our warrants, and one holder of
record  of  our units. It is likely that the actual number of beneficial holders
exceeds  these  amounts.

DIVIDENDS

     We  have not paid any dividends on our common stock to date. The payment of
dividends  in  the  future  will be contingent upon our revenue and earnings, if
any,  capital  requirements  and general financial condition. The payment of any
dividends  will  be  within  the discretion of our then Board. It is the present
intention  of  our Board to retain all earnings, if any, for use in our business
operations  and,  accordingly,  our  Board  does  not  anticipate  declaring any
dividends  in  the  foreseeable  future.

RECENT  SALES  OF  UNREGISTERED  SECURITIES

     During  the  past three years, we sold the following shares of common stock
without  registration  under  the  Securities  Act:

     On  December  21,  2009,  the  Company  issued James P. Wilson and Keith D.
Spickelmier,  former  officers  and  directors  of  the  Company,  1,920,165 and
1,571,044  shares  of  common  stock,  respectively,  pursuant  to conversion of
convertible  promissory  notes (the "Promissory Notes") in the principal amounts
of  $510,500.10  with  respect to Mr. Wilson and $417,681.90 with respect to Mr.
Spickelmier.  The  conversion  price  was  $0.008  per  share  of  common stock.

     Such  shares  are exempt from registration under regulations promulgated by
the SEC under Section 4(2) of the Securities Act. The exemption was available on
the  basis  that  there  was  no  general  solicitation  in  connection with the
placement  and  sales  were  only  made  to  accredited  investors.

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

     The  Company  has historically been a blank check company. It was formed in
2005  to serve as a vehicle for the acquisition, through a merger, capital stock
exchange,  asset  acquisition  or other similar business combination with a then
unidentified  operating  business.  On April 11, 2006, the Company completed its
IPO  of  equity securities, raising net proceeds of $76,632,404. On September 6,
2006,  the Company, Multi-Shot and various other parties entered into the Merger
Agreement  and  related agreements. See "ITEM 1. BUSINESS-OVERVIEW-Early Company
History".  Over  the  course  of this transaction, the parties twice amended the
terms of the Merger Agreement and twice extended the transaction. On January 31,
2008, the Company announced that the special meeting of its stockholders to vote
on  the  proposed  merger  with  Multi-Shot  had  been  cancelled.  The  Company
determined  and  informed  Multi-Shot that the proposed merger would not receive
the  votes  of  its  stockholders  required  for  approval. The Merger Agreement
expired  on  January  31,  2008,  and  the  proposed  merger with Multi-Shot was
abandoned.  As a result, the Company's Board of Directors determined it would be
in  the best interests of the stockholders to distribute to stockholders holding
shares  of  common stock issued in the IPO all amounts held in a trust fund (net
of  applicable  taxes) established by the Company at the consummation of the IPO
into which a certain amount of the net proceeds from the IPO had been deposited.

                                    -17-
<PAGE>

     Because  the  Company did not consummate a qualifying business combination,
the  Company's Board of Directors contemplated alternatives for preserving value
for  stockholders.  Before any such action was taken, a change of control of the
Company  occurred  on December 31, 2009 when GGH acquired from the Company's two
largest  stockholders  shares  of  the  Company's  common  stock  representing
approximately 96.5% of the outstanding shares of the common stock. GGH purchased
the  shares  to  pursue  a business opportunity through the Company, pursuant to
which the Company will seek to sell residential real estate in the United States
(initially  primarily  in  California)  to  international  home buyers (residing
initially  in  China).  See  "ITEM  1.  BUSINESS--OVERVIEW--  Recent  Change  in
Control".  Currently,  we have entered into several letters of intent for option
agreements  to  acquire residential properties for sale through our distribution
partner  in  China.  For  a  more  complete  description  of  the  Company's new
direction,  see  "ITEM  1.  BUSINESS-OVERVIEW-The  Company's  New  Business". In
connection  with the change of control that occurred on December 31, 2009, James
P.  Wilson  and Keith D. Spickelmier released the Company from interest that had
accrued  on  the  Promissory  Notes in the amounts of $42,611.18 and $34,863.70,
respectively.  See  "ITEM  5.  MARKET  FOR  REGISTRANT'S  COMMON EQUITY, RELATED
STOCKHOLDER  MATTERS,  AND ISSUER PURCHASES OF EQUITY SECURITIES-RECENT SALES OF
UNREGISTERED  SECURITIES."

RESULTS  OF  OPERATIONS

     Comparison  of  Fiscal  Year  Ended  December 31, 2009 to Fiscal Year Ended
December  31,  2008

     For  the fiscal year ended December 31, 2009, we had a net loss of $82,240.
For  the fiscal year ended December 31, 2008, we had net income of $423,316. For
the  fiscal  year  ended  December  31,  2009,  we incurred $40,456 of operating
expenses,  had  a gain on settlement of debt of $6,937, and had interest expense
of  $48,721,  as  compared to the year ended December 31, 2008, when we incurred
$169,011  of  operating  expenses,  had  interest  income  on  the  trust  fund
investments  of  $886,540,  a  gain  on  settlement of debt of $662,719, loss on
extinguishment  of  debt  of  $928,182,  and  interest  expense  of  $28,750.


CHANGES  IN  FINANCIAL  CONDITION

Liquidity  and  Capital  Resources

     The Company's cash position as of December 31, 2009 is $10. The Company had
outstanding  payables as of $10,000 as of December 31, 2009. The former officers
and  directors  of  the  Company,  James  P. Wilson and Keith D. Spickelmier, in
connection  with  the change of control of the Company that occurred on December
31,  2009,  have  agreed to directly pay off or to indemnify the Company for the
full  amount  of  the  outstanding  payables.

     On  May 22, 2008 and May 30, 2008 the Company borrowed from James P. Wilson
and  Keith  D.  Spickelmier  an  aggregate  amount  of  $103,182  to pay certain
outstanding  Company  payables.  Messrs.  Wilson  and Spickelmier had previously
advanced  to  the  Company an aggregate of $825,000 pursuant to separate advance
agreements.  The  additional  $103,182  advance  was made pursuant to a Novation
Agreement,  which,  among  other  things,  replaced  all of the previous advance
agreements.  The  Novation  Agreement  provided that (a) the aggregate amount of
Company  indebtedness  to Messrs. Wilson and Spickelmier was $928,182, after the
additional  $103,182  advance,  (b)  all amounts owing by the Company to Messrs.
Wilson  and  Spickelmier  would bear interest at the rate of five percent (5.0%)
per  annum,  (c)  all  amounts  owing  by  the  Company  to  Messrs.  Wilson and
Spickelmier  would  be due and payable in full on demand, and (d) Messrs. Wilson
and Spickelmier have the right, at their election, to have the indebtedness owed
to  them  represented by a promissory note. The Novation Agreement also provided
for  the release of certain agreements between the Company, on the one hand, and
Messrs.  Wilson  and  Spickelmier, on the other hand, entered into in connection

                                      -18-
<PAGE>
with  the  Company's  initial  public  offering.  These agreements were released
because  they  no longer had any relevance in view of the proposed amendments to
the  Company's Certificate of Incorporation that were to be considered (and that
were subsequently approved) at the special meeting of stockholders scheduled for
May  27,  2008.

     In  July  2008, the Company revised the terms of the above stated debt with
its  stockholders,  by  issuing  the  Promissory  Notes.  Under the terms of the
Promissory  Notes,  the  principal  and any accrued but unpaid interest could be
converted  at  any  time  into  common  stock at a conversion rate of $.008.  As
described in "ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES--RECENT SALES OF UNREGISTERED
SECURITIES,  Messrs.  Wilson and Spickelmier converted the Promissory Notes into
1,920,165 and 1,571,044 shares of common stock, respectively, in connection with
the  change  in  control  of  the  Company.

     The  Company  expects  to  raise  "seed"  capital in the near future in the
aggregate  amount  of approximately $687,500 from its management and persons who
have  a  relationship  with management; these amounts will be in addition to the
$312,500 used to purchase the controlling ownership interest of the Company.  As
of  March  31, 2010, $212,500 of the additional amount has been raised and there
are commitments to invest the bulk of the additional funds before the end of the
second  quarter.  The  Company  intends  to use the proceeds of this capital for
working  capital and general corporate purposes.   On March 8, 2010, the Company
completed  a  1-for-35 reverse split of the Company's common stock.  The Company
expects that the providers of this "seed" capital will be issued an aggregate of
approximately 1,926,000 post-split shares of Common Stock.  Because these shares
will not be registered under the Securities Act, such shares will be "restricted
securities"  (as  defined  in Rule 144 promulgated under the Securities Act) and
accordingly,  may  not  be sold or transferred unless such shares are registered
under  the  Securities  Act  or are sold or transferred pursuant to an exemption
therefrom.

     The  Company  is  also  seeking  to  raise additional funds to enable it to
expand  its  operations  beyond  exclusive  selling  agreements  and consignment
arrangements  to outright purchases of properties for resale.  The scope of this
aspect  of  the  Company's plan depends completely upon the Company's ability to
secure  additional  financing  beyond  the  "seed" capital described above.  The
Company  currently  does  not  have  any  binding  commitments  for,  or readily
available  sources  of,  additional  financing,  although  the Company's largest
stockholder  has  entered  into  a  "best  efforts"  placement  agreement with a
broker/dealer  to  raise up to an additional $20 million through a future equity
offering.  This  agreement  may  be  assigned to the Company, or the Company may
enter into a similar agreement with the same broker/dealer. However, no terms or
conditions  of  any  placement  have  been set, and the Company has no letter of
intent  or agreement in principal in effect (much less any definitive agreement)
regarding any financing by any investor. If the Company is successful in raising
$20  million,  the  Company  expects  that it would use most of this capital for
property  acquisitions, and the rest of the funding for working capital, general
corporate  purposes,  reserves  and  the  various  fees and expenses incurred in
connection  with the raise.  If the capital raising transaction raises less than
$20  million,  management  will simply scale back in the near-term the amount or
size  of  properties  acquired  for  resale, but expects that its plan to market
properties  through  exclusive  selling  agreements and consignment arrangements
will  be  unaffected.

     As  an alternative to the larger raise described above, the Company is also
considering  undertaking  a  smaller  capital  raising  transaction (without the
assistance  of  a  broker/dealer)  focusing  on  investors  with whom management
already  has  a  pre-existing  relationship.  The Company can make no assurances
that  any  additional  financing  will  be  available  to  it when needed or, if
available,  that  it  can  be  obtained  on  commercially  reasonable  terms.

                                    -19-
<PAGE>
     Management  believes that, if the Company's operations progress as planned,
the  Company  will  have  positive  cash flow to partially finance its business.
Moreover,  management believes that, if sales of properties result in sufficient
positive cash flow, conventional bank financing will be available. Nevertheless,
the  Company  can  make  no  assurances  as  to  future  cash flow or the future
availability  of  bank  financing.

     To  conserve  on  the Company's capital requirements, the Company may issue
shares  of  its  common  stock  to  pay  certain  expenses.

Off-Balance  Sheet  Arrangements

     Other  than  contractual  obligations  incurred  in  the  normal  course of
business,  we  do  not  have  any  off-balance  sheet  financing arrangements or
liabilities,  guarantee  contracts,  retained  or  contingent  interests  in
transferred assets or any obligation arising out of a material variable interest
in  an  unconsolidated  entity.  We do not have any majority-owned subsidiaries.

ITEM  8.  FINANCIAL  STATEMENTS  AND  SUPPLEMENTARY  DATA

     Reference is made to our financial statements beginning on page F-1 of this
report.

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

     Not  applicable.

ITEM  9A.  CONTROLS  AND  PROCEDURES.

Evaluation  of  Disclosure  Controls  and  Procedures

     Our  management,  with the participation of our principal executive officer
and  principal  financial  officer,  has  evaluated  the  effectiveness  of  our
disclosure  controls  and  procedures  (as  defined  in  Rule  13a-15(e)  of the
Securities  Exchange  Act  of  1934)  as  of  December  31,  2009. Based on such
evaluation, our principal executive officer and principal financial officer have
concluded  that  such  disclosure  controls  and  procedures  were  operating
effectively  as  of  December  31,  2009.

Management's  Report  on  Internal  Control  over  Financial  Reporting

     Management  is  responsible  for  establishing  and  maintaining  adequate
internal  control  over  financial reporting as that term is defined in Exchange
Act  Rule13a-15(f).  Our  internal control over financial reporting is a process
designed  to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of our financial statements for external reporting
purposes  in  accordance with generally accepted accounting principles ("GAAP").
Our  internal  control  over  financial  reporting  includes  those policies and
procedures  that:  (i) pertain to the maintenance of records that, in reasonable
detail,  accurately  and fairly reflect our transactions and dispositions of our
assets;  (ii)  provide  reasonable  assurance  that transactions are recorded as
necessary  to  permit preparation of our financial statements in accordance with
GAAP,  and  that our receipts and expenditures are being made only in accordance
with  authorizations  of  our  management  and  directors;  and  (iii)  provide
reasonable  assurance  regarding  prevention or timely detection of unauthorized
acquisition,  use or disposition of our assets that could have a material effect
on  our  financial  statements.

                                    -20-
<PAGE>
     Internal control over financial reporting cannot provide absolute assurance
of achieving financial reporting objectives because of its inherent limitations.
Internal  control  over  financial  reporting  is  a process that involves human
diligence  and  compliance  and  is subject to lapses in judgment and breakdowns
resulting  from  human  failures. Internal control over financial reporting also
can  be  circumvented  by  collusion or improper management override. Because of
such  limitations,  there  is  a  risk  that  material  misstatements may not be
prevented  or  detected  on  a  timely  basis by internal control over financial
reporting.  However,  these  inherent  limitations  are  known  features  of the
financial  reporting  process.  Therefore,  it  is  possible  to design into the
process  safeguards  to  reduce,  though  not eliminate, this risk. In addition,
projections  of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in conditions or
that  the  degree of compliance with the policies or procedures may deteriorate.

     To  evaluate  the  effectiveness  of  our  internal  control over financial
reporting  as  of  December  31,  2009,  as  required  by  Section  404  of  the
Sarbanes-Oxley  Act  of  2002,  management  conducted  an  assessment, including
testing,  based  on  the  criteria  set  forth  in  Internal  Control-Integrated
Framework  issued  by  the Committee of Sponsoring Organizations of the Treadway
Commission  (the  "COSO  Framework").  Based  on this evaluation, management has
concluded  that  due  to  certain  adjustments required by our registered public
accounting  firm  to  our  financial  statements,  as  of December 31, 2009, our
internal control over financial reporting was not effective.  This annual report
does  not  include  an  attestation  report  of  the Company's registered public
accounting  firm  regarding  internal  control  over  financial  reporting.
Management's  report  was not subject to attestation by the Company's registered
public  accounting  firm  pursuant to temporary rules of the Securities Exchange
Commission  that  permit the Company to provide only management's report in this
annual  report.

Changes  in  Internal  Control  over  Financial  Reporting

     No  change  in our internal control over financial reporting (as defined in
Rule13a-15(f)  under  the  Securities  Exchange Act of 1934) occurred during the
fourth  quarter  of  fiscal  2009 that has materially affected, or is reasonably
likely  to  materially  affect,  our  internal control over financial reporting.

ITEM  9B.  OTHER  INFORMATION.

     Not  applicable.


                    PART  III.

ITEM  10.  DIRECTORS,  EXECUTIVE  OFFICERS  AND  CORPORATE  GOVERNANCE.

     Our  current  directors  and  executive  officers  are  as  follows:

     Effective  December  31,  2009,  all of the Company's then serving officers
resigned  from  their  respective Company positions.  None of their resignations
was  a  result  of  any  disagreement  with  the Company.  Moreover, the Company
elected  a  new  slate  of  officers  as  indicated  in  the  following  table:

                                      -21-
<PAGE>
NAME                AGE             POSITIONS

Steven Gidumal       52        Chairman  of  the  Board  &
                               Chief Financial Officer

Tim  Wilkens         49        Chief  Executive  Officer

Brandon  Birtcher    56        President

Basil  N.  Argerson  50        Senior  Vice  President,  Treasurer  &  Secretary

     The  following  is the background of Messrs. Gidumal, Wilkens, Birtcher and
Argerson:

     Steven  Gidumal.  Since  2004,  Mr.  Gidumal  has  served  as  the founder,
President  and  Portfolio  Manager  for Virtus Capital, a firm based in Orlando,
Florida  that  invests  in  the  securities  of  companies  in  distressed  and
restructuring  situations,  including  a  variety  of  real estate and financial
institutions.  From  August  2006  to  August  2008,  Mr. Gidumal also served as
Co-Portfolio  Manager of Resurgence Asset Management, a distressed fund based in
New  York  City  for which he co-ran a portfolio in excess of $400 million.  Mr.
Gidumal earned a Bachelor of Science, Economics cum laude from the University of
Pennsylvania  (Wharton  Undergraduate  program)  and  a  Master  of  Business
Administration from Harvard Business School as a Baker Scholar (highest honors).

     Tim Wilkens.  For the past 11 years, Mr. Wilkens has served as President of
Great  Western  Holdings.  Great  Western  Holdings  is  a  business that is the
western United States development partner for Wyndham Worldwide, and in the past
has  partnered  or been approved as a partner for Fairmont Hotels, Marcus Hotels
and  Shell  Vacations.  Mr.  Wilkens  has  been  involved  in  residential  and
commercial  property  development  since  the  early  1980s.  He  has  developed
projects  in  the Lake Tahoe area, Napa County and Sonoma County.   His projects
have  included  class  A  office  developments, residential housing, multifamily
housing,  hotels,  resorts  and  fractional  housing.  Mr.  Wilkens  led several
successful  ventures that purchased distressed real estate in Texas from 1987 to
1990.  Mr.  Wilkens  has a University Teaching Credential issued by the State of
California  and  has  studied  at  San  Jose  State  University  and also at the
University  of  California  at  Berkeley.

     Brandon Birtcher.  Since 2004, Mr. Birtcher has been the President and sole
owner  of  Birtcher  Development & Investments, a leading West Coast development
company  founded  by his great-grandfather in 1939.  Mr. Birtcher began his real
estate career as property manager for the family firm in 1976.  Mr. Birtcher was
the  recipient  of  the  Southern  California  Property  Owner's  Association's
"Developer  of  the  Year"  award  in  1987,  and  the  company was the National
Association  of Industrial and Office Properties' (NAIOP) "Real Estate Developer
of  the  Year"  for  America  in  1989.  The  firm  was also named Orange County
Business  Journal's "Family Business of the Year" in 2000.  Mr. Birtcher holds a
Bachelor's  Degree  in  Business/Economics  from  Claremont  Men's  College.

     Basil N. Argerson. From February 2006 to December 2009, Mr. Argerson served
as  a  management  consultant  in  his  own  firm, where he focused on providing
merger and acquisition advice, performing business valuations and evaluating new
market  opportunities, primarily for clients in the medical services/devices and
real  estate industries.  From 2004 to February 2006, Mr. Argerson was a partner
in NB Partners, a family owned commercial real estate partnership.  Mr. Argerson
received  a Bachelor of Arts in Economics, with distinction, from the University
of  Virginia,  a  Juris Doctorate from the University of Virginia School of Law,
and  a  Master  of  Business Administration from the University of Chicago Booth
School  of  Business.

     Our  Board  of  Directors  has two directors.  On December 31, 2009, Steven
Gidumal was elected as a director of the Company, replacing James P. Wilson, and
on  March  17,  2010,  Tim Wilkens was elected as a director, replacing Keith D.
Spickelmier.  Messrs.  Gidumal  and  Wilkens  will  serve  until the next annual
meeting  of  stockholders  and until their successors are elected and qualified.

                                    -22-
<PAGE>
     Messrs.  Gidumal  and  Wilkens  serve  on  the  Company's  Nominating  and
Governance  Committee.  The Company's Board of Directors has not established any
standing  Compensation  Committee.  The  Board  of  Directors  as  a  whole will
undertake the functions of this committee at the appropriate time.  The Board of
Directors may establish a Compensation Committee whenever it believes that doing
so  would  benefit  the  Company.

SECTION  16(A)  BENEFICIAL  OWNERSHIP  REPORTING  COMPLIANCE

     Section  16(a) of the Securities Exchange Act of 1934, as amended, requires
our  directors  and  executive officers  and  persons who own more than 10% of a
registered class of our  equity  securities,  to  file  with  the Securities and
Exchange  Commission  initial  reports  of  ownership  and reports of changes in
beneficial  ownership  of  common  stock and other equity securities. Directors,
officers  and  greater  than  10% stockholders are required by SEC regulation to
furnish  us  with  all  Section  16(a) forms they file.  To our knowledge, based
solely upon our review of  the  copies  of  such  reports  furnished  to  us, we
believe  that  all  of  our  directors,  officers  and  greater  than  10%
stockholders  have  complied  with  the  applicable  Section  16(a)  reporting
requirements.

AUDIT  COMMITTEE

     No  member  currently  serves  on  our  audit  committee.

     The  audit committee will review the professional services and independence
of  our  independent  registered  public  accounting  firm  and  our  accounts,
procedures  and  internal  controls. The audit committee will also recommend the
firm  selected  to  be our independent registered public accounting firm, review
and  approve  the  scope  of  the  annual  audit,  review  and evaluate with the
independent  public  accounting  firm  our  annual audit and annual consolidated
financial  statements, review  with management the status of internal accounting
controls,  evaluate problem areas having a potential financial impact on us that
may  be  brought  to  the  committee's  attention by management, the independent
registered public accounting firm or the board of directors, and evaluate all of
our  public  financial  reporting  documents.

CODE  OF  ETHICS

     We  have  adopted a code of conduct and ethics applicable to our directors,
officers and employees in accordance with applicable federal securities laws and
the  rules  of the American Stock Exchange. A copy of the Company Code of Ethics
and  any  amendments  thereto  is  available  at  www.goldengatehomes.net.
                                                  -----------------------

                                    -23-
<PAGE>
ITEM  11.  EXECUTIVE  COMPENSATION

     No  executive  officer  or  director has received any cash compensation for
services  rendered.   The  Company  has  not  established  standard compensation
arrangements  for  its  directors, and the compensation, if any, payable to each
individual for his or her service on the Company's Board will be determined (for
the  foreseeable  future) from time to time by the Board of Directors based upon
the  amount  of  time expended by each of the directors on the Company's behalf.
Commencing  January  1, 2010, we will pay Great Western Holdings, a wholly-owned
entity  of  Tim Wilkens, a fee of $4,500 per month for providing us with certain
limited  administrative, technology and secretarial services, as well as the use
of certain limited office space, in Napa, California.  However, this arrangement
is  solely  for  our  benefit  and  is  not  intended  to  provide  Tim  Wilkens
compensation  in  lieu of a salary. No other executive officer or director has a
relationship  with  or  interest  in  Great  Western  Holdings.

     Other  than this $4,500 per-month fee, the Company has not decided upon the
remuneration  that  it  will pay to its newly elected officers as of the date of
this  Report.  The  Company  does not expect to pay any such remuneration (other
than  expense  reimbursements)  until  such  time  as  it  is  able  to generate
sufficient revenues or complete a significant capital raising event to permit it
to  do so.  In either such event, management expects that the Company will start
to pay management salaries at market levels, consistent with any restrictions on
salaries  imposed  by investors providing additional funds. However, our initial
stockholders  that  also  serve  as  officers  will  be  reimbursed  for  any
out-of-pocket  expenses  incurred  in  connection with activities on our behalf.
There is  no  limit on the amount of these out-of-pocket expenses and there will
be  no  review  of  the  reasonableness of the expenses by anyone other than our
Board of Directors,  which  includes  persons  who  may seek reimbursement, or a
court  of  competent  jurisdiction  if  such  reimbursement  is  challenged.  If
none  of our directors are deemed "independent," we will not have the benefit of
independent directors examining the propriety of expenses incurred on our behalf
and  subject  to  reimbursement.

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

     The  table  set  forth  below  contains certain information as of March 31,
 2010 concerning  the beneficial  ownership of the Company's common stock (i) by
each person who  is  known  by  the  Company to own beneficially more than 5% of
the outstanding  common stock; (ii) by each director; and (iii) by all directors
and officers  as  a  group.  The  address for all persons listed in the table is
855 Bordeaux  Way,  Suite  200,  Napa,  California  94558.

     Except  as  otherwise  indicated,  all  persons  listed below have (i) sole
voting  power  and  investment power with respect to their shares, except to the
extent that authority is shared by spouses under applicable law, and (ii) record
and  beneficial  ownership with respect to their shares.  Shares not outstanding
but  deemed beneficially owned by virtue of the right of a person or member of a
group  to  acquire  them  within  60  days  of  March  31,  2010  are treated as
outstanding only for determination of the number and percent owned by such group
or  person.

                                        -24-
<PAGE>
                                    Amount and Nature of Beneficial Ownership
                                    -----------------------------------------
Name of Beneficial Owner                 Number       Percent
--------------------------------------------------------------------------------

GGH, Inc.                             3,520,305(1)     96.5%

Steven  Gidumal                       3,520,305(1)     96.5%

Tim Wilkens                           3,520,305(1)     96.5%

Brandon Birtcher                      3,520,305(1)     96.5%

All directors and officers as a
   group (four persons)               3,520,305(1)     96.5%

     (1)     All of these shares are held by GGH, Inc., an entity owned directly
or  indirectly  by  Steven Gidumal and Brandon Birtcher, and two trusts of which
Tim  Wilkens is the trustee.  Accordingly, Messrs. Gidumal, Birtcher and Wilkens
have  shared  voting power and shared investment power over these shares.  These
shares  are  also  included  in  the table in the figures of shares beneficially
owned  by GGH, Inc. and Messrs. Gidumal, Birtcher and Wilkens. The stock numbers
reflect  the  1-for-35  reverse  stock  split  effected  on  March  8,  2010.

     Our  officers  and  directors, collectively, beneficially own approximately
96.5%  of the issued and outstanding shares of our common stock. Because of this
ownership  block, these initial stockholders may be able to effectively exercise
control  over  all matters requiring approval by our stockholders, including the
election  of  directors and approval of significant corporate transactions other
than  approval  of  a  business  combination.

ITEM  13.  CERTAIN  RELATIONSHIPS  AND RELATED  TRANSACTIONS,  AND  DIRECTOR
INDEPENDENCE.

     On  May 22, 2008 and May 30, 2008 the Company borrowed from James P. Wilson
and  Keith  D.  Spickelmier,  former  directors  and  executive  officers of the
Company,  an  aggregate  amount  of  $103,182 to pay certain outstanding Company
payables.  Messrs. Wilson and Spickelmier had previously advanced to the Company
an aggregate of $825,000 pursuant to separate advance agreements. The additional
$103,182  advance  was made pursuant to a Novation Agreement, which, among other
things,  replaced all of the previous advance agreements. The Novation Agreement
provided that (a) the aggregate amount of Company indebtedness to Messrs. Wilson
and  Spickelmier  was  $928,182,  after the additional $103,182 advance, (b) all
amounts  owing  by  the  Company  to  Messrs.  Wilson and Spickelmier would bear
interest  at the rate of five percent (5.0%) per annum, (c) all amounts owing by
the Company to Messrs. Wilson and Spickelmier would be due in payable in full on
demand,  and  (d)  Messrs.  Wilson  and  Spickelmier  have  the  right, at their
election,  to  have  the  indebtedness  owed to them represented by a promissory
note. The Novation Agreement also provided for the release of certain agreements
between the Company, on the one hand, and Messrs. Wilson and Spickelmier, on the
other  hand,  entered  into  in  connection  with  the  Company's initial public
offering.  These  agreements  were  released  because  they  no  longer  had any
relevance  in  view  of  the proposed amendments to the Company's Certificate of
Incorporation  that  were to be considered (and that were subsequently approved)
at  the  special  meeting  of  stockholders  scheduled  for  May  27,  2008.

                                        -25-
<PAGE>

     In  July  2008, the Company revised the terms of the above stated debt with
its  stockholders,  by  issuing  the  Promissory  Notes.  Under the terms of the
Promissory  Notes,  the  principal  and any accrued but unpaid interest could be
converted  at  any  time  into  common  stock at a conversion rate of $.008.  As
described in "ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES--RECENT SALES OF UNREGISTERED
SECURITIES",  on December 21, 2009, Messrs. Wilson and Spickelmier converted the
Promissory  Notes  into  67,205,779  and  54,986,547  shares  of  common  stock,
respectively  (1,920,165 and 1,571,044 shares, respectively, after giving effect
to  the  1-for-35 reverse split) in connection with the change in control of the
Company.

     All  ongoing  and  future  transactions  between us and any of our officers
and directors  or  their  respective affiliates, including loans by our officers
and directors,  will  be  on  terms  believed by us to be no less favorable than
are  available  from unaffiliated third  parties and such transactions or loans,
including any forgiveness of loans, will require prior approval in each instance
by  a  majority  of our uninterested ''independent'' directors (to the extent we
have  any)  or  the  members  of  our  Board  who do not have an interest in the
transaction,  in either case who had access, at our expense, to our attorneys or
independent  legal  counsel.  In  addition,  our  management will gather pricing
information, estimates or fairness opinions from unaffiliated third parties with
respect  to  similar  transactions  undertaken  by  us.

DIRECTOR  INDEPENDENCE

     Our  common  stock  is  listed  for  trading on the NASDAQ Over the Counter
Bulletin  Board  (OTC.BB).  Accordingly, we use the standards established by the
OTC.BB for determining whether or not each of our directors is "independent." We
have  determined  that  currently  Steven  Gidumal  and  Tim  Wilkens  are  not
independent. The OTC.BB rules generally require that a listed company's Board of
Directors  be composed of a majority of independent directors. As a consequence,
we  do  not  presently  comply  with  the  OTC.BB  rules  in  this  regard.

     Moreover,  the  OTC.BB  rules  generally  require  that  a listed company's
Audit  Committee  be  composed  of  at  least  three  members,  each  of  whom
must  be  independent.  We do not presently comply with the OTC.BB rules in this
regard  either.

ITEM  14.  PRINCIPAL  ACCOUNTING  FEES  AND  SERVICES

Audit  Fees

For 2009 and 2008, we incurred fees from our principal accountant of $11,500 and
$24,900,  respectively,  for  the services they performed including the year-end
audit,  the  quarters  and  consents  on  other  SEC  filings.

Audit-Related  Fees

During  2009,  our  principal  accountant  did  not render assurance and related
services  reasonably  related  to  the  performance  of  the  audit or review of
financial  statements.

Tax  Fees

For  2009  and  2008,  we  paid  our  principal  accountant  $1,500  and $1,450,
respectively.

All  Other  Fees

During  2009,  there were no fees incurred for products and services provided by
the  principal  accountant  other  than  those  set  forth  above.

                                  -26-
<PAGE>
POLICY  ON  AUDIT  COMMITTEE  PRE-APPROVAL  OF  AUDIT  AND PERMISSIBLE NON-AUDIT
SERVICES  OF  INDEPENDENT  AUDITORS

     Consistent  with  SEC  policies  regarding  auditor independence, the Audit
Committee has responsibility for appointing, setting compensation and overseeing
the work of the independent auditor.  In recognition of this responsibility, the
Audit  Committee  has  established  a  policy  to  pre-approve  all  audit  and
permissible  non-audit  services  provided  by  the  independent  auditor.

     Prior  to  engagement of the independent auditor for the next year's audit,
management  will  submit an aggregate of services expected to be rendered during
that  year  for  each  of four categories of services to the Audit Committee for
approval.

1.  AUDIT  services include audit work performed in the preparation of financial
statements,  as  well  as  work  that generally only the independent auditor can
reasonably  be expected to provide, including comfort letters, statutory audits,
and  attest  services  and  consultation  regarding  financial accounting and/or
reporting  standards.

2.  AUDIT-RELATED  services  are  for  assurance  and  related services that are
traditionally  performed  by  the  independent  auditor, including due diligence
related  to  mergers and acquisitions, employee benefit plan audits, and special
procedures  required  to  meet  certain  regulatory  requirements.

3.  TAX services include all services performed by the independent auditor's tax
personnel  except  those  services  specifically  related  to  the  audit of the
financial  statements,  and  includes  fees  in the areas of tax compliance, tax
planning,  and  tax  advice.

4.  OTHER  FEES  are  those  associated  with services not captured in the other
categories.  We  generally  do  not  request  such services from the independent
auditor.

     Prior  to  engagement,  the  Audit Committee pre-approves these services by
category  of  service.  The  fees  are  budgeted  and  the  Audit  Committee
requires  the independent  auditor  and  management to report actual fees versus
the budget periodically  throughout the year by category of  service. During the
year,  circumstances  may  arise  when  it  may  become  necessary to engage the
independent  auditor  for  additional  services not contemplated in the original
pre-approval.  .In  those  instances,  the  Audit  Committee  requires  specific
pre-approval  before  engaging  the  independent  auditor.

     The  Audit  Committee may delegate pre-approval authority to one or more of
its members.  The  member  to  whom  such  authority  is  delegated must report,
for  informational  purposes  only,  any  pre-approval  decisions  to  the Audit
Committee  at  its  next  scheduled  meeting.

                                        -27-
<PAGE>
                                 PART  IV.

ITEM  15.  EXHIBITS  AND  FINANCIAL  STATEMENT  SCHEDULES.

(a)  The  following  documents  are  filed  as  a  part  of  this  Report:

1.  FINANCIAL  STATEMENTS:

Index  to  Financial  Statements  and  Schedules
Report  of  Independent  Registered  Public  Accounting  Firm
Balance  Sheets  as  of  December  31,  2009  and  December  31,  2008
Statement  of  Operations - Year ended December 31, 2009, December 31, 2008, and
Period  from  May  11,  2005  (Inception)  to  December  31,  2009
Statement  of  Stockholders'  Equity  (Deficit)  -Year  ended December 31, 2009,
December  31, 2008 and Period from May 11, 2005 (Inception) to December 31, 2009
Statement  of  Cash  Flows  -Year ended December 31, 2009, December 31, 2008 and
Period  from  May  11,  2005  (Inception)  to  December  31,  2009
Notes  to  Financial  Statements

2.  FINANCIAL  STATEMENT  SCHEDULES:

All schedules are omitted for the reason that the information is included in the
financial  statements  or the notes thereto or that they are not required or are
not  applicable.


3.  EXHIBITS:

EXHIBIT
  NO.        DESCRIPTION

1.1          Form  of  Underwriting  Agreement.*

1.2          Form  of  Selected  Dealers  Agreement.*

3.1          Third  Amended  and  Restated  Certificate  of
             Incorporation.**

3.2          Amended  and  Restated  Bylaws.*

3.3          Amendment  to  the Amended and Restated Certificate of
             Incorporation.*

3.4          Amendment  to  the Amended and Restated Certificate of
             Incorporation.*

4.1          Specimen  Unit  Certificate.*

4.2          Specimen  Common  Stock  Certificate.***

4.3          Specimen  Warrant  Certificate.*

4.4          Form  of  Warrant Agreement between Continental Stock
             Transfer  &  Trust Company  and  the  Registrant.*

4.5          Form  of  Unit  Purchase  Option.*

10.1         Form of Letter Agreement among the Registrant, Ferris,
             Baker  Watts, Incorporated,  and  James  P.  Wilson.*

                                    -28-
<PAGE>
10.2         Form of Letter Agreement among the Registrant, Ferris,
             Baker  Watts, Incorporated  and  Keith  D.  Spickelmier.*

10.3         Form of Letter Agreement among the Registrant, Ferris,
             Baker  Watts, Incorporated  and  Michael  H.  McConnell.*

10.4         Form of Letter Agreement among the Registrant, Ferris,
             Baker  Watts, Incorporated  and  Herbert  C.  Williamson.*

10.5         Form  of Investment Management Trust Agreement between
             Continental  Stock Transfer  &  Trust  Company  and  the
             Registrant.*

10.6         Form of Stock Escrow Agreement between the Registrant,
             Continental Stock  Transfer  &  Trust  Company  and the Initial
             Stockholders.*

10.7         Form  of Letter Agreement between 4350 Management, LLC and  the
             Registrant  regarding  administrative  support.*

10.8         Advance  Agreement between the Registrant and James P. Wilson,
             dated  May 18,  2005.*

10.9         Advance  Agreement between the Registrant and Keith D. Spickelmier,
             dated  May  18,  2005.*

10.10        Form  of  Registration  Rights  Agreement  among  the Registrant
             and  the  Initial Stockholders.*

10.11        Form of Unit Placement Agreement among each of James P. Wilson  and
             Keith D.  Spickelmier  and  Ferris,  Baker  Watts, Incorporated.*

10.12        Advance  Agreement  between the Registrant and James P. Wilson,
             dated December  20,  2005.*

10.13        Advance  Agreement between the Registrant and Keith D. Spickelmier,
             dated  December  20,  2005.*

10.14        Amended Marketing and Sales Partnership Agreement dated March 10,
             2010 by and between the Company and Premier Capital, Ltd.**

31.1         Sarbanes  Oxley  Section  302  Certifications***

32.1         Sarbanes  Oxley  Section  906  Certifications***

24           Power  of  Attorney.*

99.1         Audit  Committee  Charter*

99.2         Code  of  Ethics*

 *  Incorporated  herein by reference to the Company's Registration Statement on
Form  S-1,  as  amended,  (File  No.  333-125211)

**  Incorporated herein by reference to the Company's Current Report on Form 8-K
dated  March  12,  2010

***  Filed  herewith

                                      -29-
<PAGE>

SIGNATURES

Pursuant  to  the requirements of Section 13 or 15(d) of the Securities Exchange
Act  of  1934,  the  registrant  has duly caused this report to be signed on its
behalf  by  the undersigned, thereunto duly authorized, on the 31st day of March
2010.

GOLDEN  GATE  HOMES,  INC.

By:  /s/  Steven  Gidumal
    ---------------------
     Steven Gidumal
     Chairman  of  the  Board  and
     Chief  Financial  Officer

Pursuant to the requirements of the Securities Act of 1934, this report has been
signed  by  the  following persons in the capacities and on the dates indicated.

         NAME                         POSITION                       DATE

By:  /s/  Steven  Gidumal         Chief  Executive  Officer,      March 31,2010
     STEVEN  GIDUMAL              and  Chairman  of  the
                                  Board  of  Directors
                                  (Principal  Financial
                                  and  Accounting  Officer)


By:  /s/  Tim  Wilkens            Chief  Executive  Officer       March 31, 2010
    TIM  WILKENS                  and  Director
                                  (Principal  Executive  Officer)

                                  -30-
<PAGE>




INDEX  TO  FINANCIAL  STATEMENTS  AND  SCHEDULES

REPORT  OF  INDEPENDENT  REGISTERED  PUBLIC  ACCOUNTING  FIRM              F-2
BALANCE  SHEETS                                                            F-3
STATEMENTS  OF  OPERATIONS                                                 F-4
STATEMENTS  OF  CHANGES  IN STOCKHOLDERS' EQUITY (DEFICIT)                 F-5
STATEMENTS  OF  CASH  FLOWS                                                F-7
NOTES  TO  FINANCIAL  STATEMENTS                                           F-9






                              F-1
<PAGE>
REPORT  OF  INDEPENDENT  REGISTERED  PUBLIC  ACCOUNTING  FIRM

To  the  Board  of  Directors
Golden  Gate  Homes,  Inc.
(A  Development  Stage  Company)
Napa,  California

We  have  audited  the  accompanying  consolidated balance sheets of Golden Gate
Homes,  Inc.  (formerly  JK  Acquisition  Corporation),  ("the  Company")  as of
December 31, 2009 and 2008, and the related consolidated statements of expenses,
shareholders' deficit, and cash flows for the years then ended December 31, 2009
and 2008 and inception through December 31, 2009. These financial statements are
the  responsibility  of Golden Gate Homes, Inc.'s management. Our responsibility
is  to  express  an  opinion  on these financial statements based on our audits.

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 an 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 Golden Gate Homes, Inc. as of
December  31, 2009 and 2008 and the results of operations and cash flows for the
two  years  then  ended December 31, 2009 and 2008 and inception to December 31,
2009,  in conformity with accounting principles generally accepted in the United
States  of  America.

The  accompanying  financial  statements have been prepared assuming that Golden
Gate Homes, Inc. will continue as a going concern. As discussed in Note 2 to the
financial  statements,  Golden Gate Homes, Inc. has historically suffered losses
from  operations which raises substantial doubt about its ability to continue as
a  going  concern. Management's plans regarding those matters also are described
in  Note  2.  The financial statements do not include any adjustments that might
result  from  the  outcome  of  this  uncertainty.


MaloneBailey, LLP
www.malonebailey.com
Houston, Texas
March 30, 2010

                                      F-2


<PAGE>


                         GOLDEN  GATE  HOMES,  INC.
                      (FORMERLY  JK  ACQUISITION  CORP.)
                       (A  DEVELOPMENT  STAGE  COMPANY)

                                 BALANCE SHEETS
                        AS OF DECEMBER 31, 2009 AND 2008

                            ASSETS
                                                          2009         2008

Current  assets:

Cash                                                   $      10   $      171
                                                       -----------------------
Total  current  assets                                        10          171
                                                       -----------------------
           Total  Assets                               $      10   $      171
                                                       ======================


                 LIABILITIES  AND  STOCKHOLDERS'  EQUITY

Current  liabilities:

Accounts  payable  and  accrued  expenses              $  10,000  $    26,038
Due  to  related  parties                                      -       51,254
Short  term  debt-due  to  shareholders                        -      941,282
                                                        ---------------------
         Total  Liabilities                            $  10,000  $ 1,018,574

Stockholders'  equity  (deficit):

Preferred  stock,  $0.0001  par  value,
  1,000,000  shares  authorized,  none  issued
  and  outstanding                                             -            -
Common  stock,  $0.0001  par  value,  600,000,000
  shares  authorized,  3,648,511  and  157,301
  shares  issued  and  outstanding  at  December  31,
  2009  and  2008,  respectively                             364           16
Paid-in  capital                                       2,019,022      928,717
Earnings  (Deficit)  accumulated  during  the
  development  stage                                  (2,029,376)  (1,947,136)
                                                       ----------------------
  Total  Stockholders'  Deficit                           (9,990)  (1,018,403)
                                                       ----------------------
Total  Liabilities  and  Stockholders'
   Deficit                                            $       10  $       171
                                                      =======================

See  notes  to  financial  statements.
                                         F-3

<PAGE>

                           GOLDEN  GATE  HOMES,  INC.
                      (FORMERLY  JK  ACQUISITION  CORP.)
                       (A  DEVELOPMENT  STAGE  COMPANY)

                          STATEMENTS  OF  OPERATIONS
          YEAR  ENDED  DECEMBER  31,  2009,  DECEMBER  31,  2008,  AND
          PERIOD  FROM  MAY  11,  2005  (INCEPTION)  TO  DECEMBER 31, 2009

                                            Year         Year     Period  from
                                            Ended        Ended    Inception  to
                                       December  31, December  31, December  31
                                            2009         2008          2009

Operating  expenses:
   General  &  administrative             $40,456     $  152,913    $953,589
Impairment  of  deferred
  transaction  costs                            -         16,098   1,844,724
                                          ----------------------------------
Operating  loss                           (40,456)      (169,011) (2,798,313)

Other  income  (expense):
  Interest  income                              -        886,540   5,663,530
  Interest  expense                       (48,721)       (28,750)    (77,471)
  Loss  on  extinguishment  of  debt            -       (928,182)   (928,182)
  Gain  on  settlement  of  debt            6,937        662,719     669,656
  Gain  (loss)  on  derivative  liabilities     -              -     203,596
                                           ---------------------------------
Total  other income  (expenses)           (41,784)       592,327   5,531,129
                                           ---------------------------------
Net income (loss)                         (82,240)       423,316   2,732,816

Income  tax  expense                            -              -       5,692
                                           ---------------------------------
Net  income  (loss)                      $(82,240)    $  423,316  $2,727,124
                                         ===================================

Earnings  (loss)  per  common  share:
BASIC & DILUTED                            ($0.02)         $0.00         N/A

Weighted  average  number  of
common  shares  outstanding:
BASIC&  DILUTED                         3,648,511        157,302         N/A

See  notes  to  financial  statements
                                        F-4



<PAGE>


                            GOLDEN GATE HOMES, INC.
                        (FORMERLY JK ACQUISITION CORP.)
                         (A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (DEFICIT) YEAR ENDED DECEMBER 31,
2009 AND 2008 AND THE PERIOD FROM MAY 11, 2005 (INCEPTION) TO DECEMBER 31, 2009

                                                            Earnings
                                                           (Deficit)
                                                           Accumulated
                                            Additional     During the
                     Common Stock           Paid-In       Development
                    Shares     Amount        Capital         Stage        Total
                 --------------------------------------------------------------

Stock  issued
  for  cash           28,175     $  3     $  31,247                  $   31,250
Net  loss                                                 $(4,995)       (4,995)
                      ---------------------------------------------------------

Balance at December
  31,    2005         28,175        3        31,247        (4,995)       26,255
Stock  issued  for
  cash,  net  of
  offering  costs    129,127       13    76,606,881                  76,606,894
Derivative  Liability                   (14,371,830)                (14,371,830)
Proceeds  subject  to
  redemption                            (15,299,099)                (15,299,099)
Sale  of  underwriter
  option                                        100                         100
Increase  in  value  of
 common  stock  subject
 to  redemption                            (218,588)                   (218,588)
Net  income                                               423,436       423,436
                    -----------------------------------------------------------
Balance  at  December
  31,  2006          157,302       16    46,748,711       418,441    47,167,168

Change  in  value  of
 derivative  liability                   14,168,234                  14,168,234
Increase  in  value  of
 common  stock  subject
 to  redemption                            (411,018)                   (411,018)
Net  income                                             1,967,606     1,967,606
                    -----------------------------------------------------------
Balance  at  December
  31,  2007          157,302       16    60,505,927     2,386,047    62,891,990
                    ===========================================================

Special  dividend  payment              (81,190,596)                (81,190,596)
Common  stock  subject
 to  redemption                          15,928,705                  15,928,705

                                        F-5
<PAGE>
Loss  on  extinguish-
  ment  of  debt                            928,182                     928,182

Distribution  of  Trust
 Fund  earnings                           4,756,499    (4,756,499)

Net  income                                               423,316       423,316
                    -----------------------------------------------------------
Balance  at  December
  31, 2008           157,302       16       928,717    (1,947,136)   (1,018,403)
                    ===========================================================

Stock  issued  upon
 Conversion  of
  Promissory
  Notes           3,491,209       348       977,190                     977,538
Contributed
  Capital                                   113,115                     113,115
Net  income                                               (82,240)      (82,240)
                   ------------------------------------------------------------

Balance  at  December
  31,   2009      3,648,511      $364    $2,019,022   $(2,029,376       $(9,990)
                  ============================================================


See  notes  to  financial  statements.

                                          F-6
<PAGE>




                            GOLDEN GATE HOMES, INC.
                        (FORMERLY JK ACQUISITION CORP.)
                       (A  DEVELOPMENT  STAGE  COMPANY)

                            STATEMENTS OF CASH FLOWS
       YEAR  ENDED  DECEMBER  31,  2009  AND  DECEMBER  31,  2008   AND
        PERIOD  FROM  MAY  11,  2005(INCEPTION)  TO  DECEMBER  31,  2009


                                 Year             Year              Period  from
                                 Ended           Ended            Inception  to
                             December  31,    December  31,        December  31,
                                 2009              2008                2009

Net income (loss)            $  (82,240)      $   423,316        $  2,727,124
Adjustments  to  reconcile
 net  income  (loss)  to  net
 cash  used  in  operating
 activities:

  Investment  income                  -          (886,540)         (5,663,530)
  Loss  (Gain)  on
    derivative  liabilities           -                 -            (203,596)
Gain  on  settlement  of
  Interest  expenses            (48,722)                             (711,441)
Gain on settlement of debt       (6,937)         (662,719)             (6,937)
Impairment  of  deferred
  transaction  costs                  -                             1,828,626
Loss  on  extinguishment  of
  debt                                -           928,182             928,182
Change  in:
  Accounts  Payable             (11,634)         (177,629)            677,122
  Due  to  related  party                          51,254              51,254
                           --------------------------------------------------

Net  Cash  used  in
  operating  activities        (149,533)        (324,138)            (373,196)

CASH  FLOWS  FROM  INVESTING  ACTIVITIES
Deferred  transaction  costs                           -           (1,828,626)
Payment  to  trust  account           -                -          (76,532,404)
Disbursements  from  trust
  account                             -       81,288,706           82,195,934
                           --------------------------------------------------
Net  cash  provided  by
  (used  in)  investing
  activities                          0       81,288,706            3,834,904

                                     F-7
<PAGE>
CASH  FLOWS  FROM  FINANCING  ACTIVITIES

Gross  proceed  from  public
  offering                            -                -           79,350,000
Gross  proceeds  from  private
  placement      -                    -                -            2,000,004
Proceeds  from  sale  of  stock       -                -               31,250
Proceeds  from  sale  of
  underwriter  option                 -                -                  100
Proceeds  from  advances  from
  stockholders                        -          116,282            1,270,282
Payments  on  advances  from
  stockholders                        -                -             (329,000)
Cash  paid  for  offering  costs      -                -           (4,743,110)
Special  dividend  payment            -      (81,190,596)         (81,190,596)
Contributed  Capital            113,115                               113,115
Proceeds  from  convertible
  debt                                            36,257               36,257
                         ----------------------------------------------------
Net  cash  provided  by
  financing  activities         149,372      (81,074,314)          (3,461,698)
                        -----------------------------------------------------
Net  change  in  cash              (161)        (109,746)                  10
Cash  at  beginning  of
  period                            171          109,917                    0
                        -----------------------------------------------------
Cash  at  end  of  period     $      10     $        171           $       10
                       ======================================================

Supplemental  disclosures:
Cash  paid  for  interest     $       -     $          -           $        -
Cash  paid  for income taxes  $       -     $          -           $        -

Non-cash  transactions:
Common  stock  subject  to
  redemption                  $       -    $(15,299,099)           $        -
Increase  (Decrease)  in  value
  of  common   stock  subject
  to  redemption              $       -    $   (629,606)           $        -

Conversion  of  Shareholder
  Advances  to   Notes        $       -    $    928,182            $        -

Conversion  of  Notes  to
  common  stock               $ 977,539    $          -               977,539



See  notes  to  financial  statements.
                                      F-8
<PAGE>


                            GOLDEN GATE HOMES, INC.
                        (FORMERLY JK ACQUISITION CORP.)
                         (A DEVELOPMENT STAGE COMPANY)
                         NOTES TO FINANCIAL STATEMENTS

NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

NATURE  OF  BUSINESS

Golden Gate Homes, Inc.  (formerly JK Acquisition Corp. and hereinafter referred
to  as  the  "Company")  was  incorporated  in  Delaware on May 11, 2005 for the
purpose  of  acquiring  or  merging  with  an  operating  business.  Before  any
acquisition  or  merger occurred, a change in control of the Company occurred on
December 31, 2009 when GGH, Inc. (formerly Golden Gate Homes, Inc.), a privately
held  Delaware  corporation  ("GGH"), acquired from James P. Wilson and Keith D.
Spickelmier  shares  of  the  Company's  common stock representing approximately
96.5% of the outstanding shares and the controlling interest in the Company. The
Company  has  now  decided  to  focus  on  marketing  high-quality,  distressed
residential  properties  in  exclusive  US  markets (initially in California) to
international  buyers  (primarily  from  China  and other parts of Asia) through
exclusive  selling  agreements  or  consignment  arrangements. If the Company is
successful  in  completing  a  major  capital  raising transaction, it will also
consider  purchasing  similar  assets  for  resale  to  the  same target market.

DEVELOPMENT  STAGE  COMPANY

As of December 31, 2009, the Company had no operations since inception and was a
development  stage  company.

USE  OF  ESTIMATES

In  preparing  financial  statements, management makes estimates and assumptions
that  affect the reported amounts of assets and liabilities in the balance sheet
and  revenue  and expenses in the income statement.  Actual results could differ
from  those  estimates.

CASH  AND  EQUIVALENTS

The Company considers all highly liquid investments with an original maturity of
three  months  or  less  at  the  time  of  purchase  to  be  cash  equivalents.

INCOME  TAXES

The  Company recognizes deferred tax assets and liabilities based on differences
between  the  financial  reporting and tax bases of assets and liabilities using
the  enacted  tax  rates  and  laws  that  are expected to be in effect when the
differences  are  expected  to  be  recovered.  The Company provides a valuation
allowance  for deferred tax assets for which it does not consider realization of
such  assets  to  be more likely than not.  As of December 31, 2009, the Company
had  a net operating loss carryforward of approximately $1,176,000 which expires
beginning  2027.  The  majority of the unused net operating loss carryforward is
limited  due  to  the  change  in  control  on  December  31,  2009.

Deferred tax assets as of December 31, 2009 and 2008 consisted of the following:


                                        F-9
<PAGE>
                                                 2009          2008

Net Operating Loss Carryforward                $400,000   $   372,000
Less:  Valuation  Allowance                    (400,000)     (372,000)
                                               ----------------------
Total  Deferred Tax Assets                     $      -   $         -

BASIC  AND  DILUTED  NET  INCOME  PER  SHARE

The  basic net income per common share is computed by dividing the net income by
the weighted average number of common shares outstanding. The diluted net income
per  common share reflects the potential dilution that could occur if securities
or  other  contracts  to  issue  common  shares were exercised or converted into
common  shares  or  resulted in the issuance of common share that then shared in
the  earnings.

REVERSE  STOCK  SPLITS

On June 17, 2008, the Company implemented a 1-for-3 reverse stock split. The par
value  of  the  common  stock  was  not affected by the reverse stock split. The
effect of the stock split was to change the issued and outstanding shares of our
common  stock to 5,505,556 as of June 17, 2008. All shares and per share amounts
have  been  restated  in  the financial statements and in the notes to financial
statements for all such periods presented, to reflect the reverse stock split as
if it occurred on the first day of the first period presented. On March 8, 2010,
the  Company  effected  a  1-for-35  reverse split, which did not change the par
value  of  the  common  stock  .  The reverse stock split changed the issued and
outstanding  shares  of  our common stock to 3,648,511. All references to common
stock  and  per  share  data  have  been  retroactively  restated to account for
1-for-35  reverse  stock  split  as if it occurred on the first day of the first
period  presented.

RECENTLY  ISSUED  ACCOUNTING  PRONOUNCEMENTS

Effective this year, the Company implemented SFAS No. 165, Subsequent Events
("SFAS 165"). This standard establishes general standards of accounting for and
disclosure of events that occur after the balance sheet date but before
financial statements are issued. The adoption of SFAS 165 did not impact the
Company's financial position or results of operations. The Company evaluated all
events or transactions that occurred after January 31, 2009 up through March 30,
2010, the date the Company issued these financial statements.  The subsequent
events which have occurred through this date are as disclosed in Footnote 7.

In  June  2009,  the  FASB  issued  guidance now codified as ASC 105, "Generally
Accepted Accounting Principles" as the single source of authoritative accounting
principles  recognized  by the FASB to be applied by nongovernmental entities in
the preparation of financial statements in conformity with U.S. GAAP, aside from
those  issued  by  the  SEC.  ASC  105 does not change current U.S. GAAP, but is
intended to simplify user access to all authoritative U.S. GAAP by providing all
authoritative  literature  related  to  a  particular  topic  in one place.  The
adoption  of  ASC  105 did not have a material impact on the Company's financial
statements,  but  did  eliminate  all  references to pre-codification standards.



The  Company  does  not  expect  the  adoption  of  recently  issued  accounting
pronouncements  to  have  a  significant  impact  on  the  Company's  results of
operations,  financial  position  or  cash  flow.

                                        F-10
<PAGE>

NOTE  2  -  GOING  CONCERN  AND  LIQUIDATION  OF  TRUST  ACCOUNT

 As  shown  in  the  accompanying  financial  statements,  the  company  has  an
accumulated  deficit  and working capital deficit as of December 31, 2009. These
conditions  raise  substantial  doubt  as  to its ability to continue as a going
concern.

The  Company expects to raise "seed" capital in the near future in the aggregate
amount  of  approximately  $687,500  from  its management and persons who have a
relationship  with management; these amounts will be in addition to the $312,500
used to purchase the controlling ownership interest of the Company.  As of March
31,  2010,  $212,500  of  the  additional  amount  has been raised and there are
commitments  to  invest  the  bulk of the additional funds before the end of the
second  quarter.  The  Company  intends  to use the proceeds of this capital for
working  capital  and general corporate purposes.   The Company expects that the
providers  of  this  "seed" capital will be issued an aggregate of approximately
1,926,000  post-split  shares  of  Common  Stock.

The  Company  currently  does  not  have  any  other binding commitments for, or
readily  available  sources  of,  additional  financing,  although the Company's
largest stockholder has entered into a "best efforts" placement agreement with a
broker/dealer  to  raise up to an additional $20 million through a future equity
offering.  This  agreement  may  be  assigned to the Company, or the Company may
enter into a similar agreement with the same broker/dealer. However, no terms or
conditions  of  any  placement  have  been set, and the Company has no letter of
intent  or agreement in principal in effect (much less any definitive agreement)
regarding  any  financing  by  any  investor.

As  an  alternative  to  the  larger  raise described above, the Company is also
considering  undertaking  a  smaller  capital  raising  transaction (without the
assistance  of  a  broker/dealer)  focusing  on  investors  with whom management
already  has  a  pre-existing  relationship.

Management  believes  that, if the Company's operations progress as planned, the
Company  will  have  positive  cash  flow  to  partially  finance  its business.
Moreover,  management believes that, if sales of properties result in sufficient
positive  cash  flow,  conventional  bank  financing  will  be  available.

To  conserve on the Company's capital requirements, the Company may issue shares
of  its  common  stock  to  pay  certain  expenses.

The  Company  liquidated  the  Trust  Fund  established  by  the  Company at the
consummation of its initial public offering (the "IPO") and into which a certain
amount  of  the  net  proceeds of the IPO were deposited (the "Trust Fund"). The
payment  date  for  distributions  from  the Trust Fund was June 2, 2008. The ex
dividend  date was set at June 3, 2008. Public stockholders holding shares as of
the  end  of  the  day  preceding  the  "ex  dividend" date set by the Financial
Industry  Regulatory  Authority  (FINRA)  were  entitled  to  receive  the
distributions.  Public  stockholders  who  sold  their  shares  before  the  "ex
dividend"  date also sold the right to the distribution by virtue of a due bill.
Due  bills  were redeemable on June 5, 2008. At the date of liquidation, June 2,
2008,  the  Trust Fund had a balance of $81,190,595 (net of $98,110 withheld for
taxes).  The  liquidation  of the Trust Fund resulted in a distribution of $6.14
per  share  to  eligible  shareholders.

                                          F-11
<PAGE>


NOTE  3  -  ADVANCES FROM SHAREHOLDERS, NOVATION AGREEMENT AND CONVERTIBLE NOTES

In May 2008, the Company borrowed from James P. Wilson and Keith  D. Spickelmier
an  aggregate  amount  of  $103,182 to pay certain outstanding Company payables.
Each of Messrs. Wilson and Spickelmier was then an officer and a director of the
Company.  Messrs.  Wilson and Spickelmier had previously advanced to the Company
an  aggregate  of $825,000 pursuant to separate advance agreements, as described
above.  The  additional  $103,182  advance  was  made  pursuant  to  a  Novation
Agreement,  which,  among  other  things,  replaced  all of the previous advance
agreements.  The  Novation  Agreement  provided that (a) the aggregate amount of
Company  indebtedness  to Messrs. Wilson and Spickelmier was $928,182, after the
additional  $103,182  advance,  (b) all amounts owing by the Company to  Messrs.
Wilson  and  Spickelmier  would bear interest at the rate of five percent (5.0%)
per  annum,  (c)  all  amounts  owing  by  the  Company  to  Messrs.  Wilson and
Spickelmier  would  be  due in payable in full on demand, and (d) Messrs. Wilson
and Spickelmier have the right, at their election, to have the indebtedness owed
to  them  represented  by  a promissory note. During the fourth quarter of 2008,
Messrs. Wilson and Spickelmier advanced an additional $13,100 bringing the total
under  the Novation Agreement to $941,282 with accrued interest of $28,754 as of
December  31,  2008.  The  Novation  Agreement  also provided for the release of
certain agreements between the Company, on the one hand, and Messrs.  Wilson and
Spickelmier,  on  the  other hand, entered into in connection with the Company's
initial  public  offering. These agreements were released because they no longer
had  any  relevance  in  view  of  the  proposed  amendments  to  the  Company's
Certificate  of  Incorporation  that  were  to  be  considered  (and  that  were
subsequently  approved)  at  the special meeting of stockholders  scheduled  for
May  27,  2008.

In  July  2008,  the Company revised the terms of the above stated debt with its
stockholders, by issuing new promissory notes. Under the terms of the new notes,
the  principal  and any accrued but unpaid interest may be converted at any time
into  common  stock  at a conversion rate of $.008.  The other terms of the note
are  substantially  the same as those described in the preceding paragraph.  The
modification  of the note agreements to include a conversion feature resulted in
a  substantial  modification  of  debt  in accordance with EITF 96-19, "Debtor's
Accounting  for  a  Modification or Exchange of Debt Instruments."  As a result,
the Company recognized a loss on extinguishment of debt of $928,182 during 2008.
On  December  21,  2009, Messrs. Wilson and Spickelmier converted the promissory
notes  into 67,205,779 and 54,986,547 common shares, respectively (1,920,165 and
1,571,044  shares,  respectively,  after  giving  effect to the 1-for-35 reverse
split),  in  connection  with  the  change  in  control  of  the  Company.

NOTE  4-  EQUITY

Prior  to the 1-for-35 reverse stock split, the Company had outstanding warrants
to  purchase  an aggregate of 9,038,889 common shares at $15 per share.  Some of
these warrants were attached to shares of the Company's common stock in the form
of  units.  As  a result of the 1-for-35 reverse stock split, these warrants now
entitle  the  holders thereof to purchase an aggregate of 258,254 shares at $525
per  share.  As  of  December 31, 2009 and 2008, all warrants remain outstanding
and are currently exercisable, although at the current exercise price management
believes  it  is  unlikely  that  holders  will  convert.  All  of  the warrants
(including  those  comprising Units) will expire on April 10, 2010.  In December
2009,  James  P. Wilson and Keith D. Spickelmier waived an aggregate of $113,115
that  they  had previously advanced the Company to pay certain expenses. Because
Messrs.  Wilson and Spickelmier were affiliated parties, this settlement of debt
resulted  in  a  contribution  to  capital  in  the  amount  of  $113,115.

                                    F-12
<PAGE>

Warrant  summary  as  of December 31, 2009 (gives effect to the 1-for-35 reverse
stock  split):

                                               Number of               Weighted
                                                Warrants               Average
                                               Outstanding             Exercise
                                                                       Price

Warrants  outstanding, inception (May 11, 2005)          -                 -
Warrants  issued                                         -                 -
Warrants  expired/forfeited                              -                 -
                                               -----------------------------
Warrants  outstanding,  December  31,  2006              -                 -

Warrants  issued                                   258,254           $525.00
Warrants  expired/forfeited                              -                 -
                                               -----------------------------
Warrants  outstanding,  December  31,  2007        258,254           $525.00
Warrants expired / forfeited                             -                 -
                                              ------------------------------
Warrants  outstanding,  December  31,  2008        258,254           $525.00
Warrants  expired/  forfeited                            -                 -
                                              ------------------------------
Warrants  outstanding, December 31, 2009           258,254           $525.00
                                             ===============================


                    Exercise     Number  of        Weighted      Aggregate
                      Price        Warrants         Average      Intrinsic
                                                  Contractual      Value
                                                   Life  (in
                                                    years)

 Warrants               $525.00     258,254           0.25         $0.00

NOTE  5-  RELATED  PARTY  TRANSACTION

During 2008, the Company  agreed  to  pay  4350 Management, LLC, a related party
and  privately-held  company  owned  by  the  Company's  then  chief  executive
officer,  an  administrative  fee  of  $7,500  per  month  for  office space and
administrative,  technology  and  secretarial  services  from  the  effective
date  of  the  initial  public offering through the acquisition date of a target
business.  This  agreement was terminated March 31, 2008.  For 2008, $22,500 has
been  expensed  for the administrative fee of which the entire amount was unpaid
as of December 31, 2008. During 2009, $90,615 was advanced to the Company by the
related  party.  Payment of the entire amount outstanding, as well as $22,500 in
rent, was waived by the related party in December 2009 and has been reflected in
contributed  capital.

NOTE  6-GAIN  ON  SETTLEMENT  OF  DEBT

The  Company reached settlement with a certain service provider for $6,937 which
was  recorded  as  a  gain  on  settlement  of  debt  during  2009.

                                      F-13
<PAGE>
NOTE  7-  SUBSEQUENT  EVENTS

On  March  8, 2010, the Company effected a 1-for-35 reverse split, which did not
change  the  par value of the common stock.  The reverse stock split changed the
issued  and outstanding shares of our common stock to 3,647,687.  All references
to  common  stock and per share data have been retroactively restated to account
for 1-for-35 reverse stock split as if it occurred on the first day of the first
period  presented.

The  Company solicited consents of its stockholders for a proposal to change the
name  of  the  Company  from "JK Acquisition Corp." to "Golden Gate Homes, Inc."
The  stockholders  approved  the  proposal,  and  on  March 8, 2010, the Company
effected  the  name  change  by  filing the Company's Third Amended and Restated
Certificate  of  Incorporation  with  the  Delaware  Secretary  of  State.

                                     F-14