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


                                   FORM 10-KSB


[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                                   For the fiscal year ended:  December 31, 2005

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

                           For the transition period from _________ to _________

                                              Commission File number:  000-30145

                           JOINTLAND DEVELOPMENT, INC.
                         -------------------------------
                 (Name of small business issuer in its charter)


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

  7th Floor, New Henry House, No.10 Ice House Street, 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


Check whether the issuer is not required to file reports pursuant to Section 13
or 15(d) of the Exchange Act.

     Check whether the issuer (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]

      Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).

                                Yes [X]           No [_]

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


<PAGE>



     As of December 31, 2005,  1,979,956 shares of common stock and no shares of
preferred  stock were  outstanding.  The  aggregate  market value of the 779,956
shares of Stock held by non-affiliates of Registrant was $2,519,820 based upon a
closing price of $4.00 on December 30, 2005.


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

     Traditional Small Business Disclosure Format:  Yes [_]  No [X]


<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 "JLDV") 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, the Company 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.  Certain
subsidiaries  were acquired  under a stock exchange  agreement  which utilized a
$10.00 per share value for its stock.


                                       1
<PAGE>


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 Company changed its name in 2001 to Global Assets & Services, Inc.

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.

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.

Global Assets & Services,  Inc. (the "Company")  acquired licenses and attempted
to market products and software from developers in Japan but was unsuccessful.

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.


                                       2
<PAGE>

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.


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

        None


                                       3
<PAGE>

                                     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.


                           Common Stock              Common Stock
2005                       Bid High                  Bid Low
----------------------------------------------------------------
1st Quarter                1.00                         0.30
2nd Quarter                1.00                         0.10
3rd Quarter                1.00                         0.10
4th Quarter                0.35                         0.25


                           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.

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, 2005, there are approximately 219
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 2005, 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 ($280,903) at December 31, 2005.
The Company has $144 chas for current assets and no other assets.

     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.


                                       4
<PAGE>

         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.


Results of Operations 2005 Compared to 2004
-------------------------------------------

     Business  operations were minimal and no revenues were generated in 2005 or
2004. 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,  2005,  the  Company  incurred
general  and  administrative  expenses of $109,581  compared  to  $556,182  in
expenses in 2004. The net loss was  ($109,584) in 2005 compared to  ($556,182)
in 2004. Loss per share was ($.06) in 2005 and ($.31) in 2004.

        The largest factors in expenses for the Company were consultant fees:
legal and accounting fees of $105,915 in 2005 versus $43,265 in 2004 and travel
expenses of $2,526 in 2005 versus $0 in 2004.  The Company incurred no officer/
director fees in 2005 or in 2004.

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.

         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.


                                       5
<PAGE>

There is  substantial  doubt  about the  ability of the Company to continue as a
"going concern." The Company has no developed business, capital of $144 and debt
in excess of $281,047 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, 2005 totalling  ($109,584) and such losses are expected to
continue.  In  addition,  the  company  has a $281,000  (approximately)  working
capital  deficit for the year ended  December 31,  2005.  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.

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-11.


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

Michael  Johnson & Co., LLC,  former  auditor for the Company,  was dismissed as
auditor on June 1, 2005.  Jaspers + Hall, PC was engaged as auditors for Company
on June 1, 2005.  The change  resulted  because  Michael  Johnson & Co., LLC was
acquired by Jaspers + Hall, PC.

The Change of  Accountants  was  approved  by the Board of  Directors.  No audit
committee exists other than the members of the Board of Directors.

In  connection  with audit of the two most recent  fiscal  years and through the
date of termination 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).


                                       6
<PAGE>

The audit report by Michael  Johnson & Co.,  LLC. for the period ended  December
31, 2005 and December 31, 2004,  contained an opinion which included a paragraph
discussing  uncertainties  related to  continuation of the Registrant as a going
concern.  Otherwise,  the audit  report by  Michael  Johnson & Co.,  LLC for the
period  December  31, 2005 and  December  31,  2004,  did not contain an adverse
opinion  or  disclaimer  of  opinion,  nor  was  qualified  or  modified  as  to
uncertainty, audit scope, or accounting principles.


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, 2005 (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,  2005,  including  any
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.


Item 8B.  Other Information

        None


                                    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                            43        President & Director       Annual
Yi Tung  Alice  Anastasia Chan     38        Secretary & Director       Annual
(resigned December 2005)

     On December 31, 2005, Ms. Chan Yi Tung Alice  Anastasia,  the  Registrant's
Secretary/Treasurer  and  Director,  voluntarily  resigned  as  an  officer  and
director of the Company for personal  reasons.  At the time of her  resignation,
Ms. Chan Yi Tung Alice Anastasia had no disagreement  with the Registrant on any
matter relating to the Registrant's operations, policies or practices.

     Mr. Xu Kexi, age 43, 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.

     On December 31, 2005 Mr. King Wong was appointed Secretary and Treasurer of
the  Company  by the Board of  Directors.  Mr.  King  Wong has  agreed to accept
appointment  as  Director  effective  10 days  after  the  mailing  of notice to
shareholders of the Company  pursuant to Section 14F of the Securities  Exchange
Act of 1934. Mr. Wong's biographical information is as follows:

     Mr. Wong King, age 49, has attained university  education level in Hangzhou
in the People's Republic of China. Mr. Wong has extensive experience in trading,
import and  export  and also  property  development  business.  He has worked in
various companies  established in Zhejiang in Hangzhou,  Shanghai and Hong Kong,
including the China Resources (Holdings) Co. Ltd. in Hong Kong.


                                       7
<PAGE>

     On December  31,  2005,  Madam Chen Yurong was  appointed a director of the
Company by the Board of Directors.  Madam Chen Yurong's biographical information
is as follows:

     Madam  Chen  Yurong,  age 27,  was  graduated  in July  2000 from the Xi'an
International  Studies  University.  During the period  between  August 2000 and
November 2004, Madam Chen has worked for a renowned  property  development group
in the People's  Republic of China by the name of Zhejiang  Zhong'an Real Estate
Development  Co.,  Ltd. Her scope of work  included  working as a manager in the
finance department of the group as well as being a deputy general manager of the
group.  As from  January  2005  onwards,  Madam Chen has been  appointed  as the
president of an associate company of Zhejiang  Zhong'an Real Estate  Development
Co., Ltd.

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.

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.

                                       8
<PAGE>

<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
--------    ----     --------      -------    ----------------       -----------        ------------  ------        -------------

=========   ====     =========     ========   ================       ===========        =============  =======       =============
Kexi Xu,(1) 2005          0          0             0                     0                  0            0                0
President,  2004          0          0             0                     0                  0            0                0
Director    2003          0          0             0                     0                  0            0                0
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Yi Tung     2005          0          0             0                     0                  0            0                0
Alice       2004          0          0             0                     0                  0            0                0
Anastasia   2003          0          0             0                     0                  0            0                0
Chan
Secretary,
Director
(resigned
2005)
=========   ====     =========     ========   ================       ===========        =============  =======       =============
King Wong,  2005          0          0             0                     0                  0            0                0
Secretary/  2004          0          0             0                     0                  0            0                0
Treasurer   2003          0          0             0                     0                  0            0                0
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Madam Chen  2005          0          0             0                     0                  0            0                0
Yurong,     2004          0          0             0                     0                  0            0                0
Director    2003          0          0             0                     0                  0            0                0
=========   ====     =========     ========   ================       ===========        =============  =======       =============
Officers    2004          0          0             0                     0                  0            0                0
as a Group  2003          0          0             0                     0                  0            0                0
            2002          0          0             0                     0                  0            0                0
=========   ====     =========     ========   ================       ===========        =============  =======       =============
</TABLE>

As of December 31, 2005, Yi Tung Alice  Anastasia  Chan resigned as Director and
Secretary/Treasurer  of the Company.  As of December 31, 2005, Mr. King Wong was
appointed  Secretary/Treasurer,  and Madam Chen was  appointed  Director  of the
Company.


                                       9
<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>

                   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                          2005      0                 0                0                  0              0
                                    2004      0                 0                0                  0              0
                                    2003      0                 0                0                  0              0

B. Yi Tung Alice Anastasia Chan     2005      0                 0                0                  0              0
   (resigned 12/31/05)              2004      0                 0                0                  0              0
                                    2003      0                 0                0                  0              0

C. Madam Yurong Chen                2005      0                 0                0                  0              0
                                    2004      0                 0                0                  0              0
                                    2003      0                 0                0                  0              0

D. Directors as a Group             2005      0                 0                0                  0              0
                                    2004      0                 0                0                  0              0
                                    2003      0                 0                0                  0              0
==============================     =========  ================  ===============  ================== =============  =================
</TABLE>

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)


                                       10
<PAGE>

<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,  2005,  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 1,979,956 shares issued and outstanding at
December 31, 2005.

<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                     Kexi Xu,                           0                                  0%
                           (President & Director)

Common                     Yi Tung Alice Anastasia Chan       0                                  0%
                           (Secretary & Director)
                           (Resigned 12/31/05)

Common                     King Wong                          0                                  0%
                           (Secretary)


                                       11
<PAGE>

Common                     Madam Yurong Chen                  1,000,000                          50.5%
                           (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
                           (3 Persons)
</TABLE>


Item 12. Certain Relationships and Related Transactions

On December  22,  2005,  Madam Chen  purchased  1,000,000  shares of the Company
(50.5% of the issued share capital of the Company).


                                     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


                                       12
<PAGE>

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

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

                                       13
<PAGE>

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

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.  Jaspers + Hall, PC ("Jaspers + Hall") 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.  Jaspers + Hall billed the  Company  $1,500 for the  following
professional  services:  audit of the annual financial  statement of the Company
for the fiscal year ended December 31, 2005.  Michael  Johnson & Co., LLC billed
the Company $1,500 for the 2004 audit.

     There were no audit related fees in 2005 or 2004. There were no tax fees or
other fees in 2005 or 2004.

     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 2005 and 2004.

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



                                       14
<PAGE>

                           JOINTLAND DEVELOPMENT, INC.

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

                              Financial Statements
                                December 31, 2005


<PAGE>

       JASPERS + HALL, PC
       CERTIFIED PUBLIC ACCOUNTANTS
--------------------------------------------------------------------------------
        9175 Kenyon Avenue, Suite 100
       Denver, CO 80237
      303-796-0099

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors
Jointland Development, Inc.


We have audited the accompanying balance sheets of Jointland Development,  Inc.,
(a Development Stage Company formerly known as Global Assets Services,  Inc.) as
of December 31, 2005 and the related  statements of  operations,  cash flows and
changes  in  stockholders'  equity  for the year  then  ended.  These  financial
statements   are  the   responsibility   of  the   Company's   management.   Our
responsibility  is to express an opinion on these financial  statements based on
our audit.

We  conducted  our audit in  accordance  with  standards  of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  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  audit  provides  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 Jointland Development,  Inc. at
December 31, 2005,  and the results of its operations and its cash flows for the
year then ended, in conformity with accounting  principles generally accepted in
the United States.

The financial  statements for the year ended December 31, 2004,  were audited by
other  accountants,  whose  report  dated  April  14,  2005 on those  statements
included an explanatory  paragraph describing conditions that raised substantial
doubt about the Company's ability to continue as a going concern.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  described  in  Note 5 to the
financial  statements,  the Company is in the development  stage, and conditions
exist which raise substantial doubt about the Company's ability to continue as a
going  concern.  The financial  statements do not include any  adjustments  that
might result from the outcome of this uncertainty.



/s/ Jaspers + Hall, PC
Jaspers + Hall, PC
April 5, 2006


                                      F-1

<PAGE>

<TABLE>
<CAPTION>

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

                                                                               December 31,
                                                                   ----------------------------------
                                                                        2005               2004
                                                                   ----------------   ---------------
<S>                                                                <C>                <C>
ASSETS;

Current Assets:
    Cash                                                                   $ 144            $ 58,879
                                                                   ----------------   ---------------

        Total Current Assets                                                 144              58,879
                                                                   ----------------   ---------------

TOTAL ASSETS                                                               $ 144            $ 58,879
                                                                   ================   ===============

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
    Accounts Payable and Accrued Liabilities                            $ 50,849                 $ -
    Advance - Shareholder                                                230,198             230,198
                                                                   ----------------   ---------------

        Total Current Liabilities                                        281,047             230,198
                                                                   ----------------   ---------------

Stockholders Equity:
    Common stock, $.001 par value, 100,000,000 shares
        authorized, 1,979,965 shares issued and outstanding                1,981               1,981
        in 2004 629,955 shares outstanding in 2003
    Additional Paid-In Capital                                         3,480,670           3,480,670
    Deficit accumulated during the
      development stage                                               (3,763,554)         (3,653,970)
                                                                   ----------------   ---------------

        Total Stockholders Equity (Deficit)                             (280,903)           (171,319)
                                                                   ----------------   ---------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                       $ 144            $ 58,879
                                                                   ================   ===============
</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
                                                                                                      (Inception) to
                                                        December 31,                                   December 31,
                                                      ----------------------------------------
                                                            2005                   2004                    2005
                                                      -----------------      -----------------       -----------------
<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               2,189,459
    Legal and Accounting Fees                                  105,915                 43,265                 266,388
    Advertising                                                      -                      -                  14,542
    Directors and Officers Fees                                      -                      -               1,409,500
    Telephone                                                        -                      -                  30,412
    Travel                                                       2,526                      -                  21,935
    Transfer Agent Fees                                            150                      -                     150
    Rent                                                             -                      -                  52,594
    Other General Expenses                                         990                 20,570                 249,567
                                                      -----------------      -----------------       -----------------

Total Expenses                                                 109,581                556,182               4,269,016
                                                      -----------------      -----------------       -----------------

Net Loss From Operations                                      (109,581)              (556,182)             (3,758,995)
                                                      -----------------      -----------------       -----------------

Other Income
      Interest Expense                                              (3)                     -                  (8,580)
      Interest Income                                                -                      -                   4,021
                                                      -----------------      -----------------       -----------------

Net Loss                                                    $ (109,584)            $ (556,182)           $ (3,763,554)
                                                      =================      =================       =================

Per Share Information:

Weighted average number
    of common shares outstanding                             1,979,965              1,979,965
                                                      -----------------      -----------------

Net Gain (Loss) per common share                               $ (0.06)               $ (0.31)
                                                      =================      =================

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

                                              F-3
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                                          JOINTLAND DEVELOPMENT, INC.
                                   (Formerly Global Assets & Services, Inc.)
                                         (A Development Stage Company)
                                         Stockholders' Equity (Deficit)
                                               December 31, 2005

                                                                                                    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
Issuance of stock for services                          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         3,480,670         (3,653,970)           (171,319)
                                               ------------    -----------     -------------     --------------     ---------------
Loss for year                                            -              -                 -           (109,584)           (109,584)
                                               ------------    -----------     -------------     --------------     ---------------
Balance - December 31, 2004                      1,979,965        $ 1,981        $3,480,670        $(3,763,554)         $ (280,903)
                                               ============    ===========     =============     ==============     ===============

All stocks shown reflect a 1 for 50 reverse stock split

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

                                                      F-4
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

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

                                                Indirect Method
                                                  May 25, 1988

                                                                      Year Ended                             (Inception) to
                                                                       December 31,                           December 31,
                                                                         2005                2004                 2005
                                                                    ---------------     ---------------     -----------------
<S>                                                                 <C>                 <C>                 <C>
Cash Flows from Operating Activities:

     Net Loss                                                         $ (109,584)         $ (556,182)         $ (3,763,554)

     Issuance of common stock for services                                     -              37,500             2,195,437
     Adjustments to reconcile net loss to cash used in
        operating activities:
     Increase (decrease) in accounts payable                              50,849             (21,795)               50,849
                                                                    ---------------     ---------------     -----------------

Net Cash Used by Operating Activities                                    (58,735)           (540,477)           (1,517,268)
                                                                    ---------------     ---------------     -----------------

Cash Flows from Financing Activities:

Proceeds from Advances - Shareholder                                           -             199,023               230,198
Issuance of common stock for Asset Acquisition                                 -                   -               656,250
Issuance of common stock                                                       -             400,001               630,964
                                                                    ---------------     ---------------     -----------------

Net Cash Provided by Financing Activities                                      -             599,024             1,517,412
                                                                    ---------------     ---------------     -----------------

Net Increase (Decrease) in Cash & Cash Equivalents                       (58,735)             58,547                   144

Beginning Cash & Cash Equivalents                                         58,879                 332                     -
                                                                    ---------------     ---------------     -----------------

Ending Cash & Cash Equivalents                                             $ 144            $ 58,879                 $ 144
                                                                    ===============     ===============     =================


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            $ 2,195,437
                                                                    ===============     ===============     =================


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

                                                      F-5

</TABLE>

<PAGE>


                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2005


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, 2005




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
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                  $   3,763,554
         Valuation allowance                                  (3,763,554)
                                                           --------------
         Net deferred tax assets                           $           0
                                                           ==============

At December  31,  2005,  the Company had net  operating  loss  carryforwards  of
approximately $3,763,554 for federal income tax purposes. These carryforwards if
not utilized to offset taxable income will begin to expire in 2011.


                                      F-7

<PAGE>


                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2005


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
did not issue any shares of common stock.

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

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

Note 5 - 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, 2005 of $3,761,054.

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 6 - 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, 2005



Note 6 - 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, 2005


Note 6 - 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.

In March 2005,  the FASB  issued FASB  Interpretation  No. 47,  "Accounting  for
Conditional Asset Retirement  Obligations"  ("FIN 47"). FIN 47 provides guidance
relating to the identification of and financial  reporting for legal obligations
to perform an asset retirement activity. The Interpretation requires recognition
of a liability for the fair value of a conditional  asset retirement  obligation
when incurred if the liability's fair value can be reasonably estimated.  FIN 47
also defines  when an entity would have  sufficient  information  to  reasonably
estimate  the fair value of an asset  retirement  obligation.  The  provision is
effective no later than the end of fiscal years ending after  December 15, 2005.
The Company  will adopt FIN 47 beginning  the first  quarter of fiscal year 2006
and  does  not  believe  the  adoption  will  have  a  material  impact  on  its
consolidated financial position or results of operations or cash flows.

In May  2005,  the FASB  issued  SFAS No.  154,  "Accounting  Changes  and Error
Corrections"  ("SFAS 154") which replaces  Accounting  Principles Board Opinions
No. 20 "Accounting  Changes" and SFAS No. 3,  "Reporting  Accounting  Changes in
Interim  Financial  Statements-An  Amendment  of APB  Opinion  No. 28." SFAS 154
provides guidance on the accounting for and reporting of accounting  changes and
error  corrections.  It  establishes  retrospective  application,  or the latest
practicable  date,  as the required  method for reporting a change in accounting
principle and the  reporting of a correction of an error.  SFAS 154 is effective
for accounting changes and a correction of errors made in fiscal years beginning
after  December  15,  2005 and is  required  to be adopted by the Company in the
first quarter of 2006.  The Company is currently  evaluating the effect that the
adoption  of SFAS 154 will  have on its  results  of  operations  and  financial
condition but does not expect it to have a material impact.

In June 2005, the Emerging  Issues Task Force,  or EITF,  reached a consensus on
Issue 05-6,  Determining  the  Amortization  Period for Leasehold  Improvements,
which requires that leasehold  improvements  acquired in a business  combination
purchased subsequent to the inception of a lease be amortized over the lesser of
the  useful  life of the  assets  or a term  that  includes  renewals  that  are
reasonably  assured at the date of the business  combination  or purchase.  EITF
05-6 is effective for periods beginning after July 1, 2005. We do not expect the
provisions  of  this  consensus  to  have a  material  impact  on the  financial
position, results of operations or cash flows.


                                      F-10

<PAGE>


                           JOINTLAND DEVELOPMENT, INC.
                    (Formerly Global Assets & Services, Inc.)
                          (A Development Stage Company)
                          Notes to Financial Statements
                                December 31, 2005



Note 7 - Advances - Shareholder:
         ----------------------

         Praise Direct Holding, money advanced to pay expenses
         of Company, non-interest bearing, due upon demand.          $230,198
                                                                      -------

                                    Total Advance                    $230,198
                                                                     ========














                                      F-11


<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 13, 2006

                                          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.



     Signature                       Title                        Date
     ---------                       -----                        ----

/s/ Xu                               President/Director
---------------------------------    & Chief Executive Officer    April 13, 2006
Kexi Xu


Directors:


/s/ Kexi Xu                          Director
---------------------------------                                 April 13, 2006
Kexi Xu

/s/ Madam Yurong Chen                Director                     April 13, 2006
---------------------------------
Madam Yurong Chen



                                       15