SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-KSB


                Annual Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

For the fiscal year ended:  December 31, 2004

Commission File number:  000-30145

                           JOINTLAND DEVELOPMENT, INC.
                         -------------------------------
             (Exact name of registrant as specified in its charter)


                         GLOBAL ASSETS & SERVICES, INC.
                       ----------------------------------
                                 (Former Name)


Florida                                        59-3723328
--------                                       ----------
State or Other Jurisdiction                    (I.R.S. Employer Identification
of incorporation or organization)              Number)

         Rooms 103-8, 12th Floor, Hang Seng Bldg., No. 77 Des Voeux Road
                           Central, Hong Kong, China
          ------------------------------------------------------------
               (Address of principal Executive Offices Zip Code)

Registrant's telephone number, including area code: 011 852 2824 0008

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

Securities registered pursuant to Section 12(g) of the Act:  None


         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 ( )


Check if disclosure of delinquent filers pursuant to Item 405 of Regulation S-B
is not contained in this form, and no disclosure will 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-KSB or any amendment to
this Form 10-KSB.  [X]


State issuer's revenues for its most recent fiscal year. $0



<PAGE>



 Small Business Disclosure Format:

                           __X____ Yes       _______ No

     As of December 31, 2004,  1,979,965 shares of common stock and no shares of
preferred  stock were  outstanding.  The  aggregate  market value of the 629,955
shares of Stock held by non-affiliates of Registrant was $2,519,820 based upon a
closing price of $4.00 on December 30, 2004.

     Documents  incorporated  by  reference:   (1)  The  Company's  Registration
Statement on Form S-18 (33-41063-A).


<PAGE>
                                TABLE OF CONTENTS

                                     PART I                                 PAGE

     Item 1.   Description of Business                                         1
     Item 2.   Description of Property                                         6
     Item 3.   Legal Proceedings                                               6
     Item 4.   Submission of Matters to a Vote of Security Holders             6


                                    PART II

     Item 5.   Market for Common Equity and Related Stockholder Matters        6
     Item 6.   Management's Discussion and Analysis or Plan of Operation       7
     Item 7.   Financial Statements                                           10
     Item 8.   Changes in and Disagreements With Accountants on Accounting    10
               and Financial Disclosure
     Item 8A.  Controls and Procedures                                        10
     Item 8B.  Other Information                                              10

                                    PART III

     Item 9.   Directors, Executive Officers, Promoters and Control Persons;
               Compliance with Section 16(a) of the Exchange Act              11
     Item 10.  Executive Compensation                                         12
     Item 11.  Security Ownership of Certain Beneficial Owners and Management 14
     Item 12.  Certain Relationships and Related Transactions                 15
     Item 13.  Exhibits and Reports on Form 8-K                               16
     Item 14.  Principal Accountant Fees & Services                           18

SIGNATURES                                                                    19

<PAGE>


                                     Part I

Item 1. Description of Business

General Description of Company
------------------------------
History
--------

Jointland Development, Inc., ("the Company" or "AM&E") a Florida corporation
was organized in May 25, 1988 as Cornerstone Capital, Inc. and the name was
changed on September 22, 1990 to Chatham International, Inc. It completed an
initial public offering which commenced on November 14, 1991, comprised of
16,268 shares of Common Stock and One Zero Coupon U.S. Treasury-Backed
Obligation ("USTBO") with a maturity value of $1,000 at a price of $1,000. The
Registrant offered a maximum of 3,000 units and a minimum of 75 units on a best
efforts basis. The underwriter for the offering was Boe and Company formerly
known as SBV Securities, Inc. A total of 98 units was sold and net proceeds were
$67,770. The Company closed its offering May 14, 1992.

The Company intended upon completion of the public offering, to commence
operations as an export management company and provide a range of business
services and assistance to manufacturers desiring to do business in foreign
markets. The Company was unsuccessful in its efforts. The Company is presently
in the developmental stage.

In April 1996, Art Music and Entertainment, Inc. merged with Chatham
International, Inc. The Company changed its name to Art Music and Entertainment,
Inc. on April 5, 1996.

The Company utilized most of 1996 to further develop its business plan and
acquire the following companies, and develop business plans of each. All
subsidiaries were acquired under a stock exchange agreement which utilized a
$10.00 per share value for its stock.

         a.  International Jazz Hall of Fame Production Company, Inc. - 3/1/96
         b.  Marin Movies, Inc. - 3/5/96
         c.  Classical Music Collection, Inc. - 3/5/96
         d.  Octopus Entertainment, Inc. - 3/5/96
         e.  Spellbinder Productions, Inc. - 3/5/96

On March 5, 1996, the Old AME entered into an Agreement and Plan of
Reorganization with the International Art Group, Inc., ("Art Group") under the
terms of which the Old AME acquired all of the outstanding capital stock of Art
Group in exchange for 486,754 shares of Class H Convertible Preferred Stock of
the Old AME. Art Group is not conducting operations and is reportedly the owner
of an exclusive license from the government of the United States to publish and
distribute the only official artwork to commemorate the Quincentennial (500th
anniversary) of the discovery of America. In December 1996, the Company and the
former shareholder of International Art Group, Inc., rescinded and canceled the
merger, and 486,754 shares of the Company's Class H Preferred Stock issued to
effect the merger were returned to the Company. Revenues of $140,400 from sales
of certain of the artwork during 1996 remain with the Company.

                                       1


<PAGE>



Old AME executed an Agreement and Plan of Reorganization on March 1, 1996 with
the International Jazz Hall of Fame Production Co. Inc. ("Jazz"). The terms of
the agreement provided for the Old AME to acquire all of the outstanding common
shares of Jazz in exchange for 44,666.68 common shares and 22,807 Class I Voting
Convertible Preferred Shares of the Old AME. Jazz was conducting operations and
is the owner of lithographs of certain jazz artists. During 1996, the Company
realized $184,748 from sales of the jazz lithographs, and $29,247 from its
production of a Jazz Hall of Fame induction ceremony. In January 1997, the
Company and the Class I Convertible Preferred Shareholders agreed to exchange
such convertible preferred stock for 230,000 shares of the restricted common
shares of the Company, which shares were issued in October 1997.

On March 5, 1996, the Old AME signed an Agreement and Plan of Reorganization
with Marin Movies, Inc. ("Marin"). The provisions of the agreement provide for
Old AME to acquire all of the outstanding common stock of Marin in exchange for
2,800 shares of Class G Convertible Preferred Stock of the Old AME. Marin is not
conducting operations and is the owner of master videos of 300 public domain
movies. In January 1997, the Company and the Class G Convertible Preferred
Shareholders agreed to exchange such convertible preferred stock for 28,000
shares of the restricted common shares of the Company, which shares were issued
in October 1997.

An Agreement and Plan of Reorganization with Classical Music Collection, Inc.
("Classical") was executed by the Old AME on March 5, 1996. Under the terms of
the agreement the Old AME acquired all of the outstanding common stock of
Classical in exchange for 11,333.34 of the Old AME's common shares and 1,760 of
the Old AME's Class F Voting convertible Preferred shares. Classical is not
conducting operations and is the owner of certain master music recordings. In
January 1997, the Company and the Class F Convertible Preferred Shareholders
agreed to exchange such convertible preferred stock for 7,967 shares of the
restricted common shares of the Company, which shares were issued in October
1997.

All of the outstanding common stock of Octopus Entertainment, Inc., ("Octopus")
was acquired by the Old AME on March 5, 1996 under an Agreement and Plan of
Reorganization of same date. The outstanding common stock of Octopus was
acquired for 1,000 Class E Voting Convertible Preferred Stock of the Old AME.
Octopus is not conducting operations and its sole assets are the ownership of
two trade names and certain "big-band" sheet music. In January 1997, the Company
and the Class E Convertible Preferred Shareholders agreed to exchange such
convertible preferred stock for 10,000 shares of the restricted common shares of
the Company, which shares were issued in October 1997. The transaction was
cancelled and rescinded in 1998.

Also on March 5, 1996, the Old AME executed an Agreement and Plan of
Reorganization with Spellbinder Productions, Inc. ("Spellbinder"), under which
the Old AME acquired all of the outstanding common stock of Spellbinder in
exchange for 9,533.34 common shares and 100,600 Class C Voting Convertible
Preferred shares of the Old AME. Spellbinder is not conducting operations, and

                                       2

<PAGE>

its sole asset is the music and related hardware for a music and illusionary
show copyrighted in 1990. In January 1997, the Company and the Class C
Convertible Preferred Shareholders agreed to exchange such preferred stock for
100,000 shares of the restricted common shares of the Company, which shares were
issued in October 1997. This subsidiary acquisition was rescinded in 1998 after
no activity or capital was produced.

The Company renegotiated in January 1997 with the former owners of the various
assets acquired by the respective classes of convertible preferred stock,
culminating  in October  1997 with the  exchange of all of the classes of issued
preferred stock for restricted  common shares of the Company.  The number of the
restricted  common  shares  issued  for each  class of  preferred  shares  is as
follows:

         Retired Class G Preferred for 28,000 shares of common
         Retired Class I Preferred for 230,000 shares of common
         Retired Class F Preferred for 7,967 shares of common
         Retired Class E Preferred for 10,000 shares of common
         Retired Class C Preferred for 100,000 shares of common
         Retired Class A Preferred for 380,000 shares of common


The Parent Company, AM&E had an affiliation with American Independent Network,
Inc. for television program broadcast time through the utilization of 30 second
commercial spots on the American Independent Network ("AIN"). Due to numerous
difficulties no advertising air time was ever used and the contract was
cancelled. The Company had planned on utilizing a portion of this air time to
sell its own products from its subsidiaries.

By the summer of 1997 AIN planned to be broadcasting its programming on
approximately 200 stations to close to 40 million households. AM&E intended to
create revenue by selling its commercial spots and its time slots for
programming. It did not achieve this goal, and ceased its operations in this
area in 1998.

The  Company  is a  successor  registrant  pursuant  to  Section  12(g) 3 of the
Securities  Exchange Act of 1934, by virtue of a statutory merger of the Parent,
Global  Assets &  Services,  Inc. a Florida  corporation,  and its wholly  owned
subsidiary,  S.D.E. Holdings 3 Inc., a Nevada corporation,  with Global Assets &
Services,  Inc.  being the  survivor.  There was no  change  to the  issued  and
outstanding  shares of Global  Assets & Services,  Inc. and all shares of S.D.E.
Holdings 3 Inc.  were  retired by virtue of the merger.

On December 20, 2001, Global Assets & Services,  Inc. completed a Share Purchase
Agreement with  shareholders of S.D.E.  Holdings 3 Inc. in which Global Assets &
Services,  Inc., a Florida corporation,  acquired all 500,000 shares outstanding
of the Registrant for the purposes of accomplishing a Merger of S.D.E.  Holdings
3 Inc. and Global Assets & Services,  Inc. The Merger was subsequently completed
on December 20, 2001.

                                       3
<PAGE>

Global Assets & Services, Inc. (the "Company"),  in December 21, 2001 executed a
letter  of  intent  to enter  into a  Software  License  Agreement  with  M-Cube
Corporation.  Focus systems,  Inc.,  publicly listed in the Tokyo OTC Market, is
the parent company of M-Cube Corporation, owning 50% of M-Cube Corporation. This
License was to market a new chaos theory  encryption  software  package suitable
for internet  communications and data security.  A definitive Agreement for this
Software License was executed.

On May 16, 2002 Global Assets & Services  executed a Software License  Agreement
with M-Cube  Corporation  of Japan,  a subsidiary of Focus Systems  Corporation.
Focus  Systems is a publicly  listed  company on the Tokyo  JASDAQ  Market  with
symbol  code  4662.  The  licensing  agreement  applies  to a new  chaos  theory
encryption  software  package  suitable for data security and  wireless/internet
communications.


Epond Technologies

On August 25, 2003, Global Assets & Services entered into a License Agreement
with Koki Nagashima and Epond Inc., whereby Global Assets & Services issued
750,000 shares of restricted stock to Koki Nagashima and Koki Nagashima was to
receive 57.1% of the license fees of the licensed patent in exchange for
exclusive rights for the licened patent and its pertained rights to produce and
sell product using the invention in all known nations and territories of the
world.  The Technology licensed is described as follows:  The technology is a
next-generation information distribution system, which uses a PCMCIA card as its
core component.


Teaming Agreement

On July 23,  2001  Global  Assets &  Services  signed a teaming  agreement  with
Geosystems Inc. to evaluate and market encryption  software based on the C4S and
C4K technology to the government and commercial market.

On October 25, 2002, Global Assets & Services entered into a Contract  Agreement
with  GeoSystems,   Inc.,  whereby  GEO  would  provide  to  Global  application
development, sale and distribution services, on a 5 year exclusive basis, for C4
encryption products under Global's license, for Federal Goverment and commercial
sectors. Global will provide either $500,000 or 400,000 shares of its restricted
common stock to capitalize the effort.

On February 3, 2003, the Contract  Agreement with Geosystems was assigned to the
Cybrix  Group,  Inc. The Cybrix  Group,  Inc. and  shareholders  are the same as
Geosystems, Inc. No revenues were ever generated from this arrangement.



                                       4
<PAGE>

The Company  signed a License for the North  American  Marketing  rights for the
following  patented products from Japan Junon System and Tomigel.  Tomigel is an
inorganic  soil-hardening  agent that has been  developed in order to harden any
kind of soil from volcanic ash and sea sand to industrial waste. Junon System is
a   polystyrene(styrofoam)   dissolving   agent  that   quickly,   safely,   and
non-toxically  dissolves  polystyrene materials and turns them into a gel, while
maintaining  the basic  chemical  composition  of the  polystyrene  so it can be
recycled. None of these licenses ever generated contracts or revenues.

In August  2004,  the  Company  formed a wholly  owned  subsidiary,  Global Tech
Assets,  Inc. in the State of Florida.  The Company  transferred all of its non-
operating  licenses to the subsidiary and distributed all of the stock of Global
Tech Assets,  Inc. as a dividend to the Company's  shareholders  of record as of
September 30, 2004.

The Company has no business operations, and the Company is seeking a business
acquisition which is able to utilize a public company.

         The Company held an Annual Meeting of Shareholders on December 15,
2004. At this meeting, the shareholders holding a majority of shares approved
the following proposals.

         1. To elect two directors to hold office until the next annual meeting
of shareholders and qualification of their respective successors.

         2.  To ratify the appointment of Michael Johnson & Co. as Independent
Accountants for the annual period ending December 31, 2004.

         3.  To change the Company's name to Jointland Development, Inc.

         4.  To authorize a reverse split of the Company's common stock on a
basis of up to one for fifty.  Fractional shares were rounded up to the next
whole share.


Subsidiaries
------------

None.

Services
--------

None.

Competition
-----------

The Company will be in competition with many companies of much greater
experience, financial resources and long established businesses. There is no
assurance that the Company will have any success in competition with other
businesses.


                                       5
<PAGE>

Employees and Consultants
-------------------------

The Company presently has no salaried employees, and its Chairman of the
Board/President, Kexi Ku, and Secretary, Yi Tung Alice Anastasia Chan serve on
an as needed basis. These officers intend to devote only such time as necessary
to the business affairs of the Company.

Presently,  none of the  officers  receive  salaries;  however,  they  are  paid
consulting fees in stock, and they are reimbursed for their expenses incurred in
their services as officers.  There is no provision for any additional bonuses or
benefits.  The  Company  anticipates  that in the near  future it may enter into
employment  agreements  with its  officers.  Although  Directors  do not receive
compensation for their services they may be reimbursed for expenses  incurred in
attending Board meetings.


Item 2. Description of Property

The Company maintains its corporate records at Rooms 1203-8, 12th Floor, Hang
Seng Building, No. 77 Des Voeux Road, Central, Hong Kong, China.


Item 3. Legal Proceedings

The Company is not a party to any pending legal proceedings, as of date of this
report.


Item 4. Submission of Matters to a Vote of Security Holders

         The Company held an Annual Meeting of Shareholders on December 15,
2004. At this meeting, the shareholders holding a majority of shares approved
the following proposals.

         1. To elect two directors to hold office until the next annual meeting
of shareholders and qualification of their respective successors.

         2.  To ratify the appointment of Michael Johnson & Co. as Independent
Accountants for the annual period ending December 31, 2004.

         3.  To change the Company's name to Jointland Development, Inc.

         4.  To authorize a reverse split of the Company's common stock on a
basis of up to one for fifty.  Fractional shares were rounded up to the next
whole share.


                                     Part II

Item 5. Market for Common Equity and Related Stockholder Matters

The outstanding shares of Jointland Development,  Inc. are presently traded
on the OTC Bulletin Board under the symbol JLDV.BB.


                                       6
<PAGE>

                           Common Stock              Common Stock
2004                       Bid High                  Bid Low
----------------------------------------------------------------
1st Quarter                .05*                      .04*
2nd Quarter                .10*                      .02*
3rd Quarter                .08*                      .03*
4th Quarter                4.10                      .05*

* Pre-reverse split one for fifty December 21, 2004.

                           Common Stock              Common Stock
2003                       Bid High                  Bid Low
----------------------------------------------------------------
1st Quarter                .48                       .10
2nd Quarter                .16                       .05
3rd Quarter                .09                       .04
4th Quarter                .06                       .04

The Company's shares trade over the counter on the OTC Bulletin Board Quotations
represent  only  prices  between  dealers  and do not  include  retail  markups,
markdowns or commissions and accordingly, may not represent actual transactions.
The Company  estimates that as of December 31, 2004, there are approximately 285
stockholders of record of the Company's shares.

No dividends have been declared or paid by the Company and the Company presently
intends to retain all future earnings, if any, to finance the expansion and
development of its business.


Item 6. Management's  Discussion and Analysis or Plan of Operation

Financial Condition
-------------------

During fiscal year 2004, the Company continued to be a development stage entity
with no sales and revenues.  The company had no capital for operations and had
minimal business operations.

Financial Condition and Changes in Financial Condition
------------------------------------------------------

Liquidity and Capital Assets.
----------------------------

     The Company's  primary  source of liquidity  since  inception has been from
funds raised  during its initial  capitalization.  The company has no sources of
capital  except to use its stock for private  placements.  The  company  will be
reliant upon loans from officers for any cash needs.  No loan  commitments  have
been made by anyone.

     The Company  remains in the  development  stage and, since  inception,  has
experienced  significant  liquidity  problems  and  has no  significant  capital
resources  now and has  stockholder's  deficit of  ($3,654,470)  at December 31,
2004.  The Company has no current  assets and other  assets  consisting  only of
intangible licenses at December 31, 2003.

     The  Company is unable to carry out any plan of business  without  funding.
The Company  cannot  predict to what extent its current  lack of  liquidity  and
capital resources will impair  the  business  or whether it  will incur  further
operating  losses  through  business  entity  which the Company  may  eventually
acquire.  There is no assurance that the Company can continue as a going concern
without substantial funding, for which there is no source.

         The  Company  estimates  it will  require  $25,000  to $30,000 to cover
legal, accounting, transfer and miscellaneous costs of being a reporting company
in the next fiscal  year.  The Company  will have a cash  shortfall  for current
annual costs of at least  $25,000 to $30,000,  for which it has no source except
shareholder loans or contributions, none of which have been committed.




                                       7
<PAGE>

Results of Operations 2004 Compared to 2003
-------------------------------------------

     Business  operations were minimal and no revenues were generated in 2003 or
2003. The Company at year end had minimal cash. The Company needed cash or loans
from any sources, for any significant business operations.

     During the fiscal  year ended  December  31,  2004,  the  Company  incurred
general  and  administrative  expenses of $556,182  compared  to  $746,134  in
expenses in 2003. The net loss was  ($556,182) in 2004 compared to  ($746,134)
in 2003. Loss per share was ($.31) in 2004 and ($1.00) in 2003.

        The largest factors in expenses for the Company were consultant fees:
$492,347 in 2004 versus $265,600 in 2003 and, legal and accounting fees of
$63,835 in 2004 versus $25,531 in 2003.  The Company incurred no officer/
director fees in 2004 compared to $435,000 in officer/director fees in 2003.

Evaluation of Internal and Disclosure Controls
----------------------------------------------

     The  management  of the  company has  evaluated  the  effectiveness  of the
issuer's disclosure controls and procedures as of a date within 90 days prior to
the filing  date of the report  (evaluation  date) and have  concluded  that the
disclosure  controls and procedures are adequate and effective  based upon their
evaluation as of the evaluation date.

     There were no significant  changes in internal controls or in other factors
that could significantly  affect internal controls subsequent to the date of the
most recent evaluation of such,  including any corrective actions with regard to
significant deficiencies and material weaknesses.

NEED FOR ADDITIONAL FINANCING

     The Company does not have capital  sufficient  to meet the  Company's  cash
needs,   including  the  costs  of  compliance  with  the  continuing  reporting
requirements  of the  Securities  Exchange Act of 1934. The Company will have to
seek loans or equity  placements to cover such cash needs.  Lack of its existing
capital may be a sufficient impediment to prevent it from accomplishing the goal
of carying out the business plan as it attempts its business plan, the Company's
needs for additional financing are likely to increase substantially. The Company
will need to raise  additional  funds to conduct any business  activities in the
next twelve months.

         No commitments to provide additional funds have been made by management
or  other  stockholders.  Accordingly,  there  can  be  no  assurance  that  any
additional  funds  will be  available  to the  Company  to allow it to cover its
expenses as they may be incurred.


                                       8
<PAGE>

         Irrespective   of  whether  the  Company's  cash  assets  prove  to  be
inadequate to meet the Company's  operational  needs,  the Company might seek to
compensate providers of services by issuances of stock in lieu of cash.

         The Company has no plans for any research and  development  in the next
twelve  months.  The Company has no plans at this time for purchases or sales of
fixed assets which would occur in the next twelve months.

         The Company has no expectation or anticipation  of significant  changes
in number of  employees  in the next twelve  months,  however,  if it achieves a
business  acquisition,  it may acquire or add employees of an unknown  number in
the next twelve months.

         The Company's  auditor has issued a "going  concern"  qualification  as
part of his opinion in the Audit Report.

     There is substantial  doubt about the ability of the Company to continue as
a "going concern." The Company has no developed business, capital of $58,897 and
debt in excess of $380,198 at year end, all of which is current,  moderate cash,
no assets,  and no capital  commitments.  The effects of such  conditions  could
easily be to cause the Company's bankruptcy.

     The Company has incurred  significant  losses from  operations for the year
ended  December  31, 2004 totalling  ($556,182,) and such losses are expected to
continue.  In  addition,  the  company  has a $325,000  (approximately)  working
capital  deficit for the year ended  December 31,  2004.  The  foregoing  raises
substantial  doubt about the Company's  ability to continue as a going  concern.
Management's  plans include seeking  additional capital and/or debt financing or
the possible sale of the Company.  There is no guarantee that additional capital
and/or debt financing will be available when and to the extent required, or that
if available,  it will be on terms  acceptable to the Company.  The consolidated
financial  statements do not include any adjustments  that might result from the
outcome of this uncertainty.


                                       9
<PAGE>

The Company has received an opinion from its independent  auditors containing an
explanatory  paragraph  that  describes  such  auditors'  uncertainty  as to the
Company's  ability to continue as a going concern due to the Company's  negative
cash flow. As of the date the independent  auditors  rendered this opinion,  the
Company  did not  have  access  to  sufficient  committed  capital  to meet  the
Company's  projected operating needs for at least the next twelve months. If the
Company does not achieve positive  operating results within the next few months,
then it will require additional financing. If positive operating results are not
achieved in the short term,  then the Company intends to take measures to reduce
expenditures so as to minimize its requirements for additional financing,  which
financing may not be available on terms  acceptable  to the Company,  if at all.
Such  measures may include  reduction of the Company's  cost of  operations  and
restructuring employee compensation packages. There can be no assurance that the
Company  will be able to  generate  internally  or  raise  sufficient  funds  to
continue the Company's  operations,  or that the Company's  independent auditors
will not issue another opinion with a going concern qualification. The Company's
consolidated  financial statements do not include any adjustments to reflect the
possible future affects on the  recoverability  and  classification of assets or
the amounts and classification of liabilities that may result from the Company's
possible inability to continue its operations.


Item 7. Financial Statements

Attached hereto and filed as part of this Form 10-KSB are the financial
statements required by Regulation SB. Please refer to pages F-1 through F-10.


Item 8. Changes in and Disagreements on Accounting and Financial Disclosure

In  connection  with audit of the two most recent  fiscal  years and through the
date of dismissed of the  accountants,  no  disagreements  exist with any former
accountant  on any  matter of  accounting  principles  or  practices,  financial
statement disclosure, or auditing scope of procedure, which disagreements if not
resolved to the satisfaction of the former  accountant would have caused them to
make   reference  in   connection   with  his  report  to  the  subject  of  the
disagreement(s).


Item 8A. Control and Procedures

     The  management  of the  company has  evaluated  the  effectiveness  of the
issuer's  disclosure controls and procedures as of December 31, 2004 (evaluation
date)  and have  concluded  that the  disclosure  controls  and  procedures  are
adequate and effective based upon their evaluation as of the evaluation date.

     There were no changes in internal  controls or in other  factors that could
affect  internal  controls  subsequent  to  December  31,  2004,  including  any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.


Item 8B.  Other Information

        None

                                       10
<PAGE>

                                    Part III

Item 9. Directors, Executive Officers, Promoters and Control Persons; Compliance
with Section 16(a).

The directors and executive officers of the Company as of December 31, 2004, are
as follows:

         Name                     Age        Position Held              Tenure
         ----                     ---        -------------              ------
Kexi Xu                            42        President & Director       Annual
Yi Tung  Alice  Anastasia Chan     37        Secretary & Director       Annual

     Mr. Xu Kexi, age 42, graduated from high school in Shanghai in 1982. Mr. Xu
was the supervisor of the Shanghai Textile Company from 1982 to 1985, the Export
Manager of Shengzhen China Import-Export Company from 1985-1990,  the Manager of
Shanghai  Galaxy Film Limited from 1990-1996.  From 1996 to the present,  Mr. Xu
has been the Chief Executive Officer of Shanghai Asia Loyalty Tradings Limited.

     Miss  Chan Yi Tung  Alice  Anastasia,  age 37,  graduated  in 1995 from the
University of Minnesota,  United States of America.  She was the  Administrative
Manager  of  Minghua  Group  Holdings  Limited,   a  company  listed  on  NASD's
Overt-the-Counter Bulletin Board in the United States of America until May 2002.
In the past,  Miss Chan has worked as the Sales  Manager  for the KYH Steel Co.,
Limited,  a steel stocklist in Hong Kong, and as the  Administrative  Officer of
B+B Asia Limited, a contractor in Hong Kong, with its parent company, located in
Germany.  At present,  Miss Chan is a director of Genuisoft  Limited,  a company
involved in the research,  development,  and  production of remote  surveillance
monitoring, data security, and wireless communication systems.

None of the above individuals have a criminal history or have had any adverse
securities actions taken against them.

The  directors  named above will serve until the next annual  meeting of
the Company's stockholders.  Thereafter,  directors will be elected for one-year
terms at the annual stockholders' meeting. Officers will hold their positions at
the pleasure of the board of  directors,  absent any  employment  agreement,  of
which none  currently  exists or is  contemplated.  There is no  arrangement  or
understanding  between the  directors  and officers of the Company and any other
person  pursuant to which any  director or officer was or is to be selected as a
director or officer.


                                       11
<PAGE>

The directors and officers of the Company will devote such time to the Company's
affairs on an "as needed" basis,  but less than 20 hours per month. As a result,
the actual  amount of time which they will  devote to the  Company's  affairs is
unknown and is likely to vary substantially from month to month.

Item 10. Executive Compensation.

         The Company does not have any employee incentive stock option plans.

<TABLE>
<CAPTION>
<S>         <C>      <C>           <C>        <C>                    <C>                <C>           <C>           <C>

                            SUMMARY COMPENSATION TABLE OF EXECUTIVES
                                   Annual Compensation               Awards

Name and    Year     Consulting     Bonus     Other Annual           Restricted         Securities    Long Term      All Other
Principal            Fees ($) or    ($)       Compensation ($)       Stock              Underlying    Compensation  Compensation
Position             Salary                                          Award(s)($)        Options/SARs  Option
--------    ----     --------      -------    ----------------       -----------        ------------  ------        -------------

Bertram(1)  2004          0          0             0                     0                  0            0                0
Cutler,     2003          0          0             0                     30,000             0            0                0
President,  2002          0          0             0                     20,000(2)          0            0                0
Director    2001          0          0             0                     8,000              0            0                0
(resigned
2004)
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Steve Oto,  2004          0          0             0                     0                  0            0                0
Secretary,  2003          0          0             0                     20,000(2)          0            0                0
Director    2002          0          0             0                     10,000             0            0                0
(Resigned   2001          0          0             0                     0                  0            0                0
Sept. 2004)
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Kexi Xu,(1) 2004          0          0             0                     0                  0            0                0
President,
Director
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Yi Tung     2004          0          0             0                     0                  0            0                0
Alice
Anastasia
Chan
Secretary,
Director
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Officers    2004          0          0             0                     0                  0            0                0
as a Group  2003          0          0             0                     50,000(2)          0            0                0
            2002          0          0             0                     606,000            0            0                0
=========   ====     =========     ========   ================       ===========        =============  =======       =============
</TABLE>



                                       12
<PAGE>

(1) As of September 20, 2004, Bertram Cutler resigned as Director and President
of the  Company.  As of September 20, 2004,  Mr. Xexi Xu  was  appointed
President and Director, and Miss Alice Chan was appointed Director of the
Company.

(2) Issued in lieu of salary.


Option/SAR Grants Table (None)

Aggregated Option/SAR Exercises in Last Fiscal Year an FY-End Option/SAR value
(None)

Long Term Incentive Plans - Awards in Last Fiscal Year (None)

<TABLE>
<CAPTION>

                   DIRECTOR COMPENSATION FOR LAST FISCAL YEAR

(Except for compensation of Officers who are also Directors which Compensation
is listed in Summary Compensation Table of Executives)
                                    Cash Compensation                           Security Grants

Name                                          Annual            Meeting          Consulting         Number         Number of
                                              Retainer          Fees ($)         Fees/Other         of             Securities
                                              Fees ($)                           Fees ($)           Restricted     Underlying
                                                                                                    Shares (#)     Options/SARs(#)
------------------------------    ----------  ----------------  ---------------  ------------------------------  ---------------
<S>                                 <C>       <C>               <C>              <C>                <C>            <C>

A. Kexi Xu                          2004      0                 0                0                  0              0
                                    2003      0                 0                0                  0              0
                                    2002      0                 0                0                  0              0

B. Yi Tung Alice Anastasia Chan     2004      0                 0                0                  0              0
                                    2003      0                 0                0                  0              0
                                    2002      0                 0                0                  0              0

B. Saburo Oto                       2004      0                 0                0                  0              0
   (resigned 2004)                  2003      0                 0                0                  0              0
                                    2002      0                 0                0                  0              0

C. Bertram Cutler                   2004      0                 0                0                  0              0
   (resigned 2004)                  2003      0                 0                0                  0              0
                                    2002      0                 0                0                  0              0

D. Frances McCrimmon                2004      0                 0                0                  0              0
   (resigned 2004)                  2003      0                 0                0                  0              0
                                    2002      0                 0                0                  10,000         0

E. Directors as a Group             2004      0                 0                0                  0              0
                                    2003      0                 0                0                  10,000         0
                                    2002      0                 0                0                  0              0
==============================     =========  ================  ===============  ================== =============  =================
</TABLE>


                                       13
<PAGE>

Option/SAR Grants Table (None)

        Aggregated Option/SAR Exercises in Last Fiscal Year an FY-End Option/SAR
value (None)

         Long Term Incentive Plans - Awards in Last Fiscal Year (None)


<TABLE>
<CAPTION>
                                              Option/SAR Grants Table
<S>                      <C>                           <C>                            <C>              <C>
Name                     Number of Securities          % of Total                     Exercise         Expiration
                         Underlying                    Options/SARs                   or Price         Date
                         Options/SARs                  Granted to Employees           ($/Sh)
                         Granted (#) in Fiscal Year
-------------------------------------------------------------------------------------------------------------------
None

</TABLE>

<TABLE>
<CAPTION>

                                Aggregated Option/SAR Exercises in Last Fiscal Year
                                            and FY-End Option/SAR value

<S>                         <C>               <C>             <C>                           <C>
Name                        Shares            Value           Number of Securities          Value of Unexercised
                            Acquired          Realized        Underlying                    In the Money
                            on                ($)             Unexercised                   Options/SARs at FY-
                            Exercise                          Options/SARs at FY-           End ($) Exercisable/
                            (#)                               End (#) Exercisable/          Unexercisable
                                                              Unexercisable
---------------------------------------------------------------------------------------------------------------------
None


</TABLE>


Item 11. Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters

The  following  table sets forth  information,  as of December  31,  2004,  with
respect to the beneficial  ownership of the Company's common stock (or Preferred
Convertible  Stock  which would  represent  5% or more of the  Company's  common
stock) by each person  known by the Company to be the  beneficial  owner of more
than five percent of the outstanding  common stock,  and by current officers and
directors of the Company.  There were 1,979,965 shares issued and outstanding at
December 31, 2004.


                                       14
<PAGE>
<TABLE>
<CAPTION>

a.)      Officers and Directors

Stock Title                Name and Address                   Amount of Beneficial               Percentage
of Class                   of Beneficial Owner                Ownership                          of Class
--------                   -------------------                ---------                          --------
<S>                        <C>                                <C>                                <C>

Common                     Praise Direct Holdings LTD         1,000,000                          50.5%
                           (Beneficially Kexi Xu,
                           President & Director)

Common                     Yi Tung Alice Anastasia Chan       0                                  0%
                           (Secretary & Director)

Common                     Shen Tiojuan                       200,000                            10.1%

                           Top Harmony Holdings, LTD.         150,000                            7.5%
                           (beneficially Kin Man Chan)

                           All Officers and                   1,000,000                          50.5%
                           Directors as a Group
                           (2 Persons)
</TABLE>



Item 12. Certain Relationships and Related Transactions


Praise Direct Holdings, LTD., beneficially owned by Kexi Xu, President and
Director, purchased 50,000,000 shares for $250,000 in September 2004.  (Pre-
reverse split one for 50.)

Shen Tiojuan purchased 10,000,000 shares in November 2004 in a private placement
at $.015 per share (pre-reverse split one for 50).

Top Harmony Holdings, LTD. received 7,500,000 shares in November 2004 (pre-
reverse split one for 50) for consulting services rendered.



                                       15
<PAGE>

                                     Part IV

Item 13. Exhibits

(a) The following exhibits and financial statement schedules are filed as
exhibits to this Report:

<TABLE>
<CAPTION>

Exhibits


Exhibit #         Description                                          Location/Page Number
---------         -----------------------------------                  -----------------------------------
<S>               <C>                                                  <C>

3.1               Articles of Incorporation                            Exhibit to Registration
                                                                       Statement filed November
                                                                       14, 1991 by Registrant on Form S-18

3.2               Bylaws of Registrant                                 Exhibit to Registration
                                                                       Statement filed November
                                                                       14, 1991 by Registrant on Form S-18

3.3               Articles of Amendment                                As filed in Exhibit herewith

10.1              Articles of Amendment to Articles                    Exhibit listed under hardship exemption
                  of Incorporation of Art Music                        as provided in Rule 202 of Regulation
                  & Entertainment, Inc. and Cert. of                   S-T.  Hardship Exemption grant date:
                  Designation, Preferences, Rights and                 5/27/97
                  Limitation of Classes C, E, F, G, H, I
                  Convertible Preferred Stock

10.2              Articles of Incorporation of Art Music               Exhibit listed under hardship exemption
                  & Entertainment with attachments                     as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.3              Articles of Amendment to Articles of                 Exhibit listed under hardship exemption
                  Incorporation of Chatham International,              as provided in Rule 202 of Regulation
                  Inc.                                                 S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.4              Articles of Incorporation of Cornerstone             Exhibit listed under hardship exemption
                  Capital, Inc.                                        as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.5              Articles of Incorporation of International           Exhibit listed under hardship exemption
                  Jazz Hall of Fame Production Co., Inc.               as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97


                                       16
<PAGE>

10.6              Articles of Incorporation of                         Exhibit listed under hardship
                                                                       exemption as provided in Rule 202
                  Octopus Entertainment, Inc.                          of Regulation S-T.  Hardship
                                                                       Exemption grant date: 5/27/97

10.7              Articles of Amendment to Articles of                 Exhibit listed under hardship exemption
                  Incorporation of Octopus Entertainment,              as provided in Rule 202 of Regulation
                  Inc.                                                 S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.8              Articles of Incorporation of Marin                   Exhibit listed under hardship exemption
                  Movies, Inc.                                         as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.9              Articles of Amendment to Articles of                 Exhibit listed under hardship exemption
                  Incorporation of Marin Movies, Inc.                  as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.10             Articles of Incorporation of Classical               Exhibit listed under hardship exemption
                  Music Collection, Inc.                               as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.11             Articles of Amendment to Articles of                 Exhibit listed under hardship exemption
                  Incorporation of Classical Music                     as provided in Rule 202 of Regulation
                  Collection, Inc.                                     S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.12             Articles of Incorporation of Spellbinder             Exhibit listed under hardship exemption
                  Productions, Inc. and Articles of                    as provided in Rule 202 of Regulation
                  Amendment to Articles of Incorporation               S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.13             Bylaws of Art Music &                                Exhibit listed under hardship exemption
                  Entertainment, Inc.                                  as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.14             Certificate of Name Change                           Exhibit listed under hardship exemption
                                                                       as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.15             Articles of Amendment to Articles of                 Exhibit listed under hardship exemption
                  Incorporation of Chatham International,              as provided in Rule 202 of Regulation
                  Inc.                                                 S-T.  Hardship Exemption grant date:
                                                                       5/27/97


                                       17
<PAGE>

10.16             Agreement and Plan of Reorganization                 Exhibit listed under hardship exemption
                  of AM&E, Inc. and IJHFPC                             as provided in Rule 202 of Regulation
                                                                       S-T.  Hardship Exemption grant date:
                                                                       5/27/97

10.17             License Agreement for PCMCIA Based Distribution
                  System

10.18             License Agreement for Tomigel & Junon Systems

31                Sarbanes-Oxley Certification

32                Sarbanes-Oxley Certification
</TABLE>


Item 14.  Principal Accountant Fees and Services

General.  Michael Johnson & Co., LLC, CPAs ("MJC") is the Company's principal
auditing accountant firm. The Company's Board of Directors has considered
whether the provisions of audit services is compatible with maintaining MJC's
independence.

         Audit Fees. MJC billed the Company $4,000 for the following
professional services: audit of the annual financial statement of the Company
for the fiscal year ended December 31, 2004. MJC billed the Company $3,000 for
the 2003 audit.

         There were no audit related fees in 2004 or 2003. There were no tax
fees or other fees in 2004 or 2003.

         The Company's Board acts as the audit committee and had no
"pre-approval policies and procedures" in effect for the auditors' engagement
for the audit year 2004 and 2003.

         All audit work was performed by the auditors' full time employees.



                                       18
<PAGE>

                                   Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities and
Exchange Act of 1934, the Registrant had duly caused this Report to be signed on
its behalf by the undersigned thereunto duly authorized.

Dated:  April 26, 2005

                                          JOINTLAND DEVELOPMENT, INC.

                                     By:  /s/ Kexi Xu
                                          ----------------------------------
                                          Kexi Xu, President

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

<TABLE>
<CAPTION>

     Signature                          Title                             Date
     ---------                          -----                             ----
<S>                                     <C>                               <C>
/s/ Xu                                  President/Director
---------------------------------       & Chief Executive Officer          April 25, 2005
Kexi Xu


Directors:


/s/ Kexi Xu
---------------------------------                                          April 25, 2005
Kexi Xu


/s/ Yi Tung Alice Anastasia Chan
---------------------------------                                          April 25, 2005
Yi Tung Alice Anastasia Chan
</TABLE>


                                       19
<PAGE>

                           JOINTLAND DEVELOPMENT, INC.

                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)

                              Financial Statements
                           December 31, 2004 and 2003





<PAGE>







                          INDEPENDENT AUDITOR'S REPORT


Board of Directors
Jointland Development, Inc.
Hong Kong


We have audited the accompanying balance sheets of Jointland Development, Inc.,
(Formerly Global Assets & Services, Inc.) (a development stage company), as of
December 31, 2004 and 2003, and the related statements of operations,
stockholders' equity, and cash flows for the years ended December 31, 2004 and
2003 and for the period from May 25, 1988 (inception) to December 31, 2004.
These financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements based
on our audits.

We conducted our audits "in accordance with standards of the Public Company
Accounting Oversight Board (United States)" as outlined in PCAOB Auditing
Standard No. 1. Those standards require that we plan and perform the audits to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes 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 JLDV, Inc., (a development
stage company) as of December 31, 2004 and 2003 and the results of their
operations and their cash flows for the years ended December 31, 2004 and 2003,
and the period May 25, 1988 (inception) to December 31, 2004, in conformity with
accounting principles generally accepted in the United States.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in the Note 6 to the
financial statements the Company is in the development stage, and will require
funds from profitable operations, from borrowings, or from sale of equity
securities to execute its business plan. Management's plans in regard to these
matters are also described in Note 6. These factors raise substantial doubt
about its ability to continue as a going concern. The financial statements do
not include any adjustments that might result from this uncertainty.

/s/ Michael Johnson & Co., LLC
Michael Johnson & Co., LLC
Denver, Colorado
April 14, 2005


                                      F-1

<PAGE>

<TABLE>
<CAPTION>

                                  JOINTLAND DEVELOPMENT, INC.
                           (Formerly Global Assets & Services, Inc.)
                                 (A Development Stage Company)
                                         Balance Sheets
                                          December 31,

                                                                                              2004               2003
                                                                                         ----------------   ---------------
<S>                                                                                      <C>                <C>
ASSETS;

Current Assets:
    Cash                                                                                       $ 58,879          $    332
                                                                                         ----------------   ---------------

        Total Current Assets                                                                     58,879               332
                                                                                         ----------------   ---------------

TOTAL ASSETS                                                                                   $ 58,879             $ 332
                                                                                         ================   ===============

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
    Accounts Payable and Accrued Liabilities                                                        $ -          $ 21,795
    Notes Payable                                                                               230,198            31,175
                                                                                         ----------------   ---------------

        Total Current Liabilities                                                               230,198            52,970
                                                                                         ----------------   ---------------

Stockholders Equity:
    Common stock, $.001 par value, 100,000,000 shares
        authorized, 1,979,965 shares issued and outstanding                                       1,981               630
        in 2004 629,955 shares outstanding in 2003
    Additional Paid-In Capital                                                                3,480,670         3,044,520
    Deficit accumulated during the
      development stage                                                                      (3,653,970)       (3,097,788)
                                                                                         ----------------   ---------------

        Total Stockholders Equity (Deficit)                                                    (171,319)          (52,638)
                                                                                         ----------------   ---------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                           $ 58,879            $  332
                                                                                         ================   ===============
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-2

<PAGE>

<TABLE>
<CAPTION>

                                          JOINTLAND DEVELOPMENT, INC.
                                   (Formerly Global Assets & Services, Inc.)
                                         (A Development Stage Company)
                                            Statements of Operations

                                                                                                               May 25,
                                                                                                                 1988
                                                         Year Ended                                         (Inception) to
                                                        December 31,                                         December 31,
                                                            2004                   2003                          2004
                                                      -----------------      -----------------             -----------------
<S>                                                   <C>                    <C>                           <C>
Revenue:
    Revenue                                                  $       -                    $ -                     $ 846,545
    (Less) Cost of Sales                                             -                      -                      (336,524)
                                                      -----------------      -----------------             -----------------
Total Income                                                         -                      -                       510,021
                                                      -----------------      -----------------             -----------------
Operating Expenses
    Doubtful Accounts                                                -                      -                        34,469
    Consultants Fees                                           492,347                265,600                     2,189,459
    Legal and Accounting Fees                                   43,265                 20,125                       160,473
    Advertising                                                      -                      -                        14,542
    Directors and Officers Fees                                      -                435,000                     1,409,500
    Telephone                                                        -                  2,596                        30,412
    Travel                                                           -                 11,909                        19,409
    Rent                                                             -                  5,498                        52,594
    Other General Expenses                                      20,570                  5,406                       249,077
                                                      -----------------      -----------------             -----------------
Total Expenses                                                 556,182                746,134                     4,159,935
                                                      -----------------      -----------------             -----------------
Net Loss From Operations                                      (556,182)              (746,134)                   (3,649,914)
                                                      -----------------      -----------------             -----------------
Other Income
      Interest Expense                                               -                      -                        (8,577)
      Interest Income                                                -                      -                         4,021
                                                      -----------------      -----------------             -----------------
Net Loss                                                 $    (556,182)            $ (746,134)                 $ (3,654,470)
                                                      =================      =================             =================

Per Share Information:

Weighted average number
    of common shares outstanding                             1,779,965                629,955
                                                      -----------------      -----------------
Net Gain (Loss) per common share                              $ (0.31)               $ (1.00)
                                                      =================      =================
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                      F-3

<PAGE>

<TABLE>
<CAPTION>

                                          JOINTLAND DEVELOPMENT, INC.
                                   (Formerly Global Assets & Services, Inc.)
                                         (A Development Stage Company)
                                         Stockholders' Equity (Deficit)
                                               December 31, 2004

                                                                                                    Deficit
                                                       COMMON STOCKS           Additional          Accum. During         Total
                                                                                 Paid-In          Development        Stockholders'
                                                # of Shares        Amount        Capital             Stage          Equity (Deficit)
                                                -------------    -----------  --------------     --------------     ----------------
<S>                                             <C>                <C>         <C>                <C>               <C>
Balance - December 31, 1997                           87,955             88         208,875           (208,963)                 -
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 1998                           87,955             88         208,875           (208,963)                 -
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 1999                           87,955             88         208,875           (208,963)                 -
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 2000                           87,955             88         208,875           (208,963)                 -
                                                -------------    -----------  --------------     --------------     --------------
Issuance of stock for services 12/11                  68,000             68           3,332                  -              3,400
Loss for year                                              -              -               -            (39,462)           (39,462)
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 2001                          155,955            156         212,207           (248,425)           (36,062)
                                                -------------    -----------  --------------     --------------     --------------
Issuance of stock for cash 3/28                          400              1           1,999                  -              2,000
Issuance of stock for services 3/28                  136,000            136         679,864                  -            680,000
Issuance of stock for services 4/2                    20,000             20          99,980                  -            100,000
Issuance of stock for services 6/18                   10,000             10          49,990                  -             50,000
Issuance of stock for services 7/12                   14,200             14          71,023                  -             71,037
Issuance of stock for Asset Acquisition 8/12          35,000             35         656,215                  -            656,250
Issuance of stock for services 8/12                   11,800             12          58,988                  -             59,000
Issuance of stock for cash 9/18                        1,600              1          19,999                  -             20,000
Issuance of stock for services 10/15                  98,900             99         494,401                  -            494,500
Loss for year                                              -              -               -         (2,103,229)        (2,103,229)
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 2002                          483,855            484       2,344,666         (2,351,654)            (6,504)
                                                -------------    -----------  --------------     --------------     --------------
Issuance of stock for services 1/15                   55,500             55         254,945                  -            255,000
Issuance of stock for services 3/11                   52,600             53         254,947                  -            255,000
Issuance of stock for services 4/20                    2,000              2           9,998                  -             10,000
Issuance of stock for services 5/28                   36,000             36         179,964                  -            180,000
Loss for year                                              -              -               -           (746,134)          (746,134)
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 2003                          629,955            630       3,044,520         (3,097,788)           (52,638)
                                                -------------    -----------  --------------     --------------     --------------
Issuance of stock for cash                         1,000,000          1,000         249,000                  -            250,000
Issuance of stock for services                       150,000            150          37,350                  -             37,500
Split Adjustment                                          10              1               -                  -                  1
Issuance of Stock for cash                           200,000            200         149,800                  -            150,000
Loss for year                                              -              -               -           (556,182)          (556,182)
                                                -------------    -----------  --------------     --------------     --------------
Balance - December 31, 2004                        1,979,965        $ 1,981      $3,530,870        $(3,653,970)        $ (171,319)
                                                =============    ===========  ==============     ==============     ==============
</TABLE>

All stocks shown reflect a 1 for 50 reverse stock split

   The accompanying notes are an integral part of these financial statements.

                                      F-4

<PAGE>

<TABLE>
<CAPTION>

                                          JOINTLAND DEVELOPMENT, INC.
                                   (Formerly Global Assets & Services, Inc.)
                                         (A Development Stage Company)
                                         Stockholders' Equity (Deficit)
                                               December 31, 2004



                                                                                                         May 25, 1988
                                                                           Year Ended                   (Inception) to
                                                                           December 31,                  December 31,
                                                                    2004                2003                 2004
                                                               ---------------     ---------------     -----------------
<S>                                                            <C>                 <C>                 <C>
Cash Flows from Operating Activities:

     Net Loss                                                   $ (556,182)          $ (746,134)         $  (3,653,970)

     Issuance of common stock for services                          37,500              700,000              2,195,437
     Adjustments to reconcile net loss to cash used in
        operating activities:
     Increase (decrease) in accounts payable                       (21,795)              13,926                      -
                                                               ---------------     ---------------     -----------------
Net Cash Used by Operating Activities                             (540,477)             (32,208)            (1,458,533)
                                                               ---------------     ---------------     -----------------
Cash Flows from Financing Activities:

Proceeds from Notes Payble                                         199,023               31,175                380,198
Issuance of common stock for Asset Acquisition                           -                    -                656,250
Issuance of common stock                                           400,001                    -                480,964
                                                               ---------------     ---------------     -----------------
Net Cash Provided by Financing Activities                          599,024               31,175              1,517,412
                                                               ---------------     ---------------     -----------------
Net Increase (Decrease) in Cash & Cash Equivalents                  58,547               (1,033)                58,879

Beginning Cash & Cash Equivalents                                      332                1,365                      -
                                                               ---------------     ---------------     -----------------
Ending Cash & Cash Equivalents                                    $ 58,879              $   332              $  58,879
                                                               ===============     ===============     =================


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
     Cash paid for Interest                                          $   -                 $  -                $ 8,577
                                                               ===============     ===============     =================
     Cash paid for Income Taxes                                      $   -                 $  -                  $   -
                                                               ===============     ===============     =================

NON-CASH TRANSACTIONS
     Common stock issued in exchange for services                 $ 37,500           $  700,000           $  2,195,437
                                                               ===============     ===============     =================
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-5

<PAGE>

                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2004


Note 1 - Organization and Summary of Significant Accounting Policies:
         -----------------------------------------------------------

Organization:
------------

Art, Music and Entertainment, Inc. ("Company") (formerly Chatham International,
Inc.) was organized originally as Cornerstone Capital, Inc., under the laws of
the State of Florida as a corporation on May 25, 1988.  On September 22, 1990
the Company changed its name to Chatham International, Inc.  On April 5, 1996
the Board of Directors of the Company authorized the name of Company to be
changed from Chatham International, Inc. to Art, Music and Entertainment, Inc.,
in connection with a merger, discussed elsewhere herein, with an entity of the
same name.  Such change was filed with the Secretary of State of Florida on July
18, 1996.  On July 24, 2001 the Board of Directors met in a special meeting to
authorize the name change to Global Assets and Services, Inc.  On December 27,
2004 Global Assets & Services, Inc. filed a name change with the State of
Florida, the new name of the corporation is Jointland Development, Inc. with
offices in Hong Kong.

In December 2001 Global Assets & Services merged with SDE 3 Holdings, Inc.
Global Assets & Services is the surviving Corporation and all shares of stock
outstanding in SDE 3 Holdings, Inc. are retired concurrent with the merger.

Basis of Presentation - Development Stage Company:
-------------------------------------------------

The Company has not earned significant revenues from limited principal
operations. Accordingly, the Company" activities have been accounted for as
those of a "Development Stage Enterprise" as set forth in Financial Accounting
Standards Board Statement No. 7 ("SFAS 7"). Among the disclosures required by
SFAS 7 are that the Company's financial statements be identified as those of a
development stage company, and that the statements of operations, stockholders'
equity (deficit) and cash flows disclose activity since the date of the
Company's inception.


Cash and Cash Equivalents:
-------------------------

The Company considers all highly liquid debt instruments, purchased with an
original maturity of three months or less, to be cash equivalents.

Use of Estimates:
----------------

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

                                      F-6

<PAGE>

                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2004




Note 1 - Organization and Summary of Significant Accounting Policies (Cont):
         ------------------------------------------------------------------

Net Loss Per Share:
------------------

Net loss per share is based on the weighted average number of common shares and
common shares equivalents outstanding during the period.

Other Comprehensive Income:
--------------------------

The Company has no material components of other comprehensive income (loss), and
accordingly, net loss is equal to comprehensive loss in all periods.


Note 2 - Federal Income Taxes:
         --------------------

The Company has made no provision for income taxes because there has been no
income generated since 1997 for financial statements or tax purposes.

The Financial Accounting Standards Board (FASB) has issued Statement of
Financial Accounting Standards Number 109 ("SFAS 109"). "Accounting for Income
Taxes", which requires a change from the deferred method to the asset and
liability method of accounting for income taxes. Under the asset and liability
method, deferred income taxes are recognized for the tax consequences of
"temporary differences" by applying enacted statutory tax rates applicable to
future years to differences between the financial statement carrying amounts and
the tax basis of existing assets and liabilities.

Deferred tax assets
         Net operating loss carryforwards                $   3,653,970
         Valuation allowance                                (3,653,970)
                                                         --------------
         Net deferred tax assets                         $           0
                                                         ==============

At December 31, 2004, the Company had net operating loss carryforwards of
approximately $3,653,970 for federal income tax purposes. These carryforwards if
not utilized to offset taxable income will begin to expire in 2010.



                                      F-7


<PAGE>

                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2004


Note 3 - Capital Stock Transactions:
         --------------------------

The authorized capital stock of the Company is 100,000,000 shares of common
stock at $.001 par value. During the period ended December 31, 2004, the Company
issued 7,500,000 shares of common stock for compensation for consulting fees and
50,000,000 shares of common stock for cash and 10 shares of common stock for
director compensation. On December 16, 2004, the Board of Directors authorized a
reverse stock split of 1 for 50, this is reflected in the equity report.

Note 4 - Segment Information:
         -------------------

Jointland Development, Inc. operates primarily in a single operating segment,
the asset management and capital raising business.

Note 5 - Subsequent Event:
         ----------------

In January 2005 the Company started negotiations to purchase a portion of Anhui
Zhongan Real Estate Development Co., LTD, a real estate development company in
China.

Note 6 - Going Concern:
         -------------

The financial statements of the Company have been presented on the basis that
they are a going concern, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. The Company has an
accumulated deficit at December 31, 2004 of $3,653,970.

The future success of the Company is likely dependent on its ability to attain
additional capital, or to find an acquisition to add value to its present
shareholders and ultimately, upon its ability to attain future profitable
operations. There can be no assurance that the Company will be successful in
obtaining such financing, or that it will attain positive cash flow from
operations. Management believes that actions presently being taken to revise the
Company's operating and financial requirements provide the opportunity for the
Company to continue as a going concern.

Note 7 - Financial Accounting Developments:
         ---------------------------------
Recent Accounting Pronouncements

In February 2003, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 150, "Accounting for Certain Financial Instruments with Characteristics of
Both Liabilities and Equity" (SFAS No. 150). The provisions of SFAS No. 150 are
effective for financial instruments entered into or modified after May 31, 2003,
and otherwise are effective at the beginning of the first interim period
beginning after June 15, 2003, except for mandatorily redeemable financial
instruments of nonpublic entities. The Company has not issued any financial
instruments with such characteristics.


                                      F-8

<PAGE>



                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2004



Note 7 - Financial Accounting Developments (Cont)
         ----------------------------------------

In December 2003, the FASB issued FASB Interpretation No. 146 (revised December
2003, "Consolidation of Variable Interest Entities" (FIN No. 146R), which
addresses how a business enterprise should evaluated whether it has a
controlling interest in an entity through means other than voting rights and
accordingly should consolidate the entity. FIN No. 146R replaces FASB
Interpretation No. 46, "Consolidation of Variable Interest Entities", which was
issued in January 2003. Companies are required to apply FIN No. 46 R to variable
interests in variable interest entities (VIEs') created after December 31, 2003.
For variable interest in VIEs created before January 1, 2004, the Interpretation
is applied beginning January 1, 2005. For any VIEs that must be consolidated
under FIN No. 146R that was created before January 1, 2004, the assets,
liabilities, and non-controlling interest of the VIE initially are measured at
their carrying amounts with any difference between the net amount added to the
balance sheet and any previously recognized interest being recognized as the
cumulative effect of an accounting change. If determining the carrying amounts
is not practicable, fair value at the date FIN No. 146R first applies may be
used to measure the assets, liabilities, and non-controlling interest of the
VIE. The Company does not have any interest in any VIE.

In December 2004, the FASB issued SFAS No. 123R (revised 2004), "Share Based
Payment" which amends FASB Statement No. 123 and will be effective for public
companies for interim or annual periods after June 15, 2005. The new standard
will require entities to expense employee stock options and other share-based
payments. The new standard may be adopted in one of three ways - the modified
prospective transition method, a variation of the modified prospective
transition method or the modified retrospective transition method. The Company
is to evaluate how it will adopt the standard and evaluate the effect that the
adoption of SFAS 123R will have on our financial position and results of
operations.

In November 2004, the FASB issued SFAS No. 151, "Inventory Costs, an amendment
of ARB No. 43, Chapter." This statement amends the guidance in ARB No. 43,
Chapter 4, Inventory Pricing, to clarify the accounting for abnormal amounts of
idle facility expense, freight, handling cost, and wasted material (spoilage).
Paragraph 5 of ARB No. 43, Chapter 4, previously stated that "under some
circumstances, items such as idle facility expense, excessive spoilage, double
freight, and rehandling costs may be so abnormal as to require treatment as
current period charges." SFAS No. 151 requires that those items be recognized as
current-period charges regardless of whether they meet the criterion of "so
abnormal". In addition, this statement requires that allocation of fixed
production overheads to costs of conversion be based on the prospectively and
are effective for inventory costs incurred during fiscal years beginning after
June 15, 2005, with earlier application permitted for inventory costs incurred
during fiscal years beginning after the date this Statement is issued. The
adoption of SFAS No. 151 is not expected to have a material impact on the
Company's financial position and results of operations.


                                      F-9

<PAGE>


                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2004


Note 7 - Financial Accounting Developments (Cont)
         ----------------------------------------

In December 2004, the FASB issued SFAS No. 153, "Exchanges of Non-monetary
Assets, an amendment of APB Opinion No. 29". The guidance in APB Opinion No. 29,
Accounting for Non-monetary Transactions, is based on the principle that
exchanges of non-monetary assets should be measured based on the fair value of
assets exchanged. The guidance in that Opinion, however, included certain
exceptions to that principle. This Statement amends Opinion 29 to eliminate the
exception for non-monetary exchanges of similar productive asserts that do not
have commercial substance. A non-monetary exchange has commercial substance if
the future cash flows of the entity are expected to change significantly as a
result of the exchange. SFAS No. 153 is effective for non-monetary exchanges
occurring in fiscal periods beginning after June 15, 2005. The adoption of SFAS
No. 153 is not expected to have a material impact on the Company's financial
position and results of operations.

Note 8 - Notes Payable - Related Parties:
         -------------------------------

  Note payable to Praire Direct Holding, money advanced to
  pay expenses of Company, non-interest bearing, due upon demand.        230,749
                                                                       ---------

                             Total Notes Payable                        $230,749
                                                                        ========







                                      F-10