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

                                   FORM 10-KSB

     (Mark One)

     [ X ] Annual report under Section 13 or 15(d) of the Securities Exchange
           Act of 1934

     For the fiscal year ended December 31, 2001

     [   ] Transition report under Section 13 or 15(d) of the Securities
           Exchange Act of 1934

     For the transition period from _________ to _________

     Commission File No. 09489


                            GLOBAL PATH INCORPORATED
                 (Name of Small Business Issuer in Its Charter)




          DELAWARE                                        98-0355519
(State or Other Jurisdiction of                          (IRS Employer
Incorporation or Organization)                       Identification Number)

   5TH FLOOR, 2 TORONTO STREET
     TORONTO, ONTARIO, CANADA                               M5C 2B6
(Address of Principal Executive Offices)                   (Zip Code)


                                 (416) 214-0066
                           (Issuers Telephone Number)
           SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
                                     (None)

           SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
                         Common Stock, par value $0.001
                                (Title of Class)

     Check  whether  the  issuer  (1)  filed all reports required to be filed by
Section  13  or 15(d) of the Exchange Act during the past 12 months (or for such
shorter  period  that the registrant was required to file such reports); and (2)
has  been  subject  to  such  filing  requirements  for  the  past  90  days.

Yes [   ]  No  [ X ]

     Check  if  there is no 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  issuers  revenues  for  its  most  recent  fiscal  year.     $     0

     The  aggregate  market value of voting and non-voting common equity held by
non-affiliates computed by reference to the price at which the common equity was
sold, or the average bid and asked prices of such common equity, as of March __,
2002  (See  definition  of  affiliate  in  rule  12b-2  of  the  Exchange Act.),
totals  $3,932,190.

     State  the  number  of shares outstanding of each of the issuers classes of
common  equity,  as  of the latest practicable date.  21,555,903 as of March 28,
2002.

                       DOCUMENTS INCORPORATED BY REFERENCE

     If  the following documents are incorporated by reference, briefly describe
them  and  identify  the  part of the form 10-KSB (e.g., Part I, Part II, etc. )
into  which  the  document  is  incorporated:  (1) any annual report to security
holders;  (2)  any  proxy or information statement; and (3) any prospectus filed
pursuant  to  rule 424(b) or (c) of the Securities Act of 1933 (Securities Act).
The  listed  documents  should  be clearly described for identification purposes
(e.g.,  annual  report  to  security  holders for fiscal year ended December 24,
1990).

None.

     Transitional  Small  Business  Disclosure  Format  (check  one):
Yes  [   ]  No  [ X ]



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<PAGE>

                                TABLE OF CONTENTS


                                     PART I

Item 1          Description of Business.

Item 2          Description of Property.

Item 3          Legal Proceedings.

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

                                     PART II

Item 5          Market for Common Stock and Related Stockholder Matters.

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

Item 7          Financial Statements.

Item 8          Changes In and Disagreements With Accountants on Accounting and
                Financial Disclosure.

                                    PART III

Item 9          Directors, Executive Officers, Promoters and Control Persons;
                Compliance With Section 16(a) of the Exchange Act.

Item 10         Executive Compensation.

Item 11         Security Ownership of Certain Beneficial Owners and Management.

Item 12         Certain Relationships and Related Transactions.

Item 13         Exhibits and Reports on Form 8-K.



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<PAGE>
                                INTRODUCTORY NOTE

This  Annual  Report  on  Form  10-KSB  may be deemed to contain forward-looking
statements  within  the meaning of Section 27A of the Securities Act of 1933 and
Section  21E  of  the  Securities Exchange Act of 1934. The Company intends that
such  forward-looking  statements be subject to the safe harbors created by such
statutes.  The  forward-looking  statements included herein are based on current
expectations  that  involve a number of risks and uncertainties. Accordingly, to
the extent that this Annual Report contains forward-looking statements regarding
the  financial  condition,  operating  results,  business prospects or any other
aspect  of  the  Company,  please be advised that the Company's actual financial
condition, operating results and business performance may differ materially from
that  projected  or  estimated by the Company in forward-looking statements. The
differences  may be caused by a variety of factors, including but not limited to
adverse  economic  conditions, intense competition, including intensification of
price  competition  and  entry of new competitors and products, adverse federal,
state  and local government regulation, inadequate capital, unexpected costs and
operating  deficits,  increases in general and administrative costs, lower sales
and revenues than forecast, loss of customers, customer returns of products sold
to  them by the Company, disadvantageous currency exchange rates, termination of
contracts,  loss  of  suppliers,  technological  obsolescence  of  the Company's
products,  technical  problems  with the Company's products, price increases for
supplies  and  components,  inability  to  raise  prices,  failure to obtain new
customers,  litigation and administrative proceedings involving the Company, the
possible  acquisition  of new businesses that result in operating losses or that
do  not  perform as anticipated, resulting in unanticipated losses, the possible
fluctuation  and  volatility  of  the  Company's  operating  results,  financial
condition  and  stock  price,  losses incurred in litigating and settling cases,
dilution  in the Company's ownership of its business, adverse publicity and news
coverage,  inability  to carry out marketing and sales plans, loss or retirement
of  key  executives,  changes in interest rates, inflationary factors, and other
specific  risks that may be alluded to in this Annual Report or in other reports
issued  by  the Company. In addition, the business and operations of the Company
are  subject to substantial risks which increase the uncertainty inherent in the
forward-looking  statements.  In light of the significant uncertainties inherent
in  the  forward-looking  information  included  herein,  the  inclusion of such
information  should  not  be  regarded as a representation by the Company or any
other  person  that  the  objectives  or  plans of the Company will be achieved.

                                     PART I

ITEM  1  -  DESCRIPTION  OF  BUSINESS

BACKGROUND  OF  THE  COMPANY

Global Path Incorporated (the "Company" or "GPI") is a publicly traded strategic
holding  company  that  acquires,  funds and oversees a portfolio of IT security
industry  companies.  The  Company  brings  strategic,  financial  and  business
resources  to  its  portfolio  companies.

The Company was originally incorporated on March 11, 1980, as Associated Medical
Devices,  Inc.,  under  the  laws of Nevada for the development and marketing of
various  devices. Due to the non-payment of required fees and filing of required
reports, the Company forfeited its corporate charter during 1986 and was revived
in  February  1995.

Pursuant  to  an Acquisition Agreement dated, July 1, 1999, and finally executed
on  October 20, 1999, John F. Huguet ("Huguet") and Gold Crown Holdings Limited,
a  British  Virgin  Islands  corporation  ("Gold  Crown),  acquired  4,968,000
restricted shares of the Company's common stock, comprising approximately 85% of
the  Company's issued and outstanding Shares, in exchange for 100% of the issued
and  outstanding  common stock of Euro American Business Group, Inc., a New York
corporation  owned  by Huguet and Gold Crown.  Contemporaneously thereto, Huguet
and  Gold  Crown purchased 25,000 shares of Registrant's common stock from Glenn
A.  Little,  a  director  of  the  Company for $200,000.  In anticipation of the
execution  of  the  above  agreement,  on  October 7, 1999, the directors of the
Company  tendered  their  resignations as directors of the Company and appointed
new  directors  and  officers.

Prior  to  the  Agreement,  the  Company was a development stage company with no
significant  operations,  seeking  a  new  business  plan.  At  the  time of the
Agreement,  Euro  American  Business  Group,  Inc., had conducted no business to
date, but had plans to become a  provider of low cost internet access in Europe.
To  better reflect the Company's new business plan, the Company changed its name
to  Yournet,  Inc.  on  October  20,  1999.

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<PAGE>

Effective  August  14,  2001,  Yournet,  Inc.  merged  with and into Global Path
Incorporated,  a  Delaware corporation. Pursuant to the merger, Yournet, Inc., a
Nevada  corporation,  reincorporated  under the laws of Delaware. As a result of
the  merger,  shareholders  of  Yournet,  Inc. received the right to receive one
share  of Class A common stock of Global Path Incorporated for each one share of
common  stock  of  the  Company. After the reincorporation, 20,455,903 shares of
Yournet,  Inc. common stock was converted to 20,455,903 shares of Class A common
stock  of  Global Path Incorporated ("GPI"), the surviving entity. The Company's
common  stock  currently trades on the Over-the-Counter Bulletin Board under the
trading  symbol  GBPAA.

BUSINESS OF THE COMPANY

Global  Path  Inc. is a publicly traded strategic holding company that acquires,
funds  and oversees a portfolio of IT security industry companies. The portfolio
businesses  are acquired from among the worlds most promising small to mid-sized
technology  companies within the IT security sector with the goal of making them
industry  leaders.

The  Company  is  led   by  a  team  of experienced and knowledgeable technology
business  executives.  Represented  in their backgrounds are years of experience
from  the  IT  Security  sector  an  corporate finance focused on leveraging its
industry  knowledge  and capital markets experience and relationships within the
E-Security  space.

Under  its  new  management,  the  Company's  mission  is to become a world-wide
diversified  company with a charter to acquire industry leading companies. These
target  companies  are  have  superior growth potential for a number of reasons.
Once  acquired, the Company will remedy appropriate corporate, market or capital
issues, reposition the business fundamentals then pull the acquisition back into
an  industry  leadership  position.  Fundamental  to  our  business  is  an
entrepreneurial  philosophy based on ownership. Our focus is clearly on building
value  for  our  shareholders.  We  work  together  as  partners,  creating  an
environment  that supports individual strengths and decisive independent action.
We provide our portfolio companies management with significant depth and breadth
of  expertise on acquisitions, integration, strategy, negotiations and financing
with  a  strong track record of completion. We are actively pursuing, soliciting
and  building  opportunities  for  the  Company.

INDUSTRY OVERVIEW

According  to  International Data Corp. (IDC), the worldwide market for internet
security is expected to grow from $5.1 billion in 2000 to $14.0 billion by 2005,
with  an  annual  compounded  growth  rate  (CAGR)  of  23%.

The  internet  security  market  is  divided  into  the  following:  firewalls,
encryption software, anti-virus software and 3As (authorization, authentication,
administration). The 3A market is expected to be the largest and fastest growing
segment,  driven  by  several  factors  including  security,  productivity,
collaboration  and  return  on investment (ROI) needs and is expected to grow by
28%  (CAGR)to  $9.5  billion  by  2005.

COMPETITION

Our  competition  is  with  the  major  IT  security firms who are also actively
acquiring  smaller IT security specialty organizations and could include Network
Associates (NETA) , RSA Security (RSAS), Secure Computing (SCUR) and others. The
Company  plans  on  competing  with  its  competitors by maintaining a portfolio
approach  versus  an  integration  approach.  Acquired  companies  remain  as
subsidiaries  with a new mandate for growth and stability. However, there can be
no  assurances that the Company will be able to compete successfully against its
competitors.  Failure  to  compete  successfully could have a materially adverse
effect upon the Company's future results of operations and financial conditions.


                                        4
<PAGE>

DEPENDENCE  ON  KEY  CUSTOMERS

The Company is currently not dependent on any single customer for a significant
portion of its annual sales.  Rather, the portfolio companies control all
customer relationships.

MAJOR  SUPPLIERS

The  Company is currently not dependent on any major suppliers. The Company does
rely  on  its  investor  and lender relationships as a source of capital for its
portfolio  companies.


REGULATION

As target companies are identified, the Company intends to fully comply with all
laws  and  regulations,  and  the constraints of international restrictions that
could  impact  the  success  of  the  Company.


PATENTS,  TRADEMARKS,  LICENSES


The  Company  does  not  depend  upon  any  patents or trademarks to conduct its
business;  nor  does  the  Company  hold  any  such  patents  or  trademarks.

COST  OF  COMPLIANCE  WITH  ENVIRONMENTAL  REGULATIONS

The Company currently has no costs associated with compliance with environmental
regulations.  However,  there  can  be  no  assurances that the Company will not
incur  such  costs  in  the  future.

NUMBER  OF  EMPLOYEES

As of March 28, 2002, the Company employs nine full-time and contract personnel.


ITEM  2.  DESCRIPTION  OF  PROPERTY

Effective October 1, 2001, the Company began leasing administrative office space
at  2  Toronto  Street,  Toronto,  Ontario,  Canada M5C 2B6, at a rental rate of
$90,152  per  year  for  a  period  of  four years.  This facility serves as the
Company's  headquarters  and  primary  place  of  business.

ITEM  3.  LEGAL  PROCEEDINGS

The  Company  may  from  time  to  time be involved in various claims, lawsuits,
disputes with third parties, actions involving allegations of discrimination, or
breach  of  contract  actions  incidental to the operation of its business.  The
Company is not currently involved in any such litigation which it believes could
have  a  materially  adverse  effect  on  its  financial condition or results of
operations.

ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

There  were no matters submitted to a vote of security holders during the fourth
quarter  of  the  year  ended  December  31,  2001.

                                        5
<PAGE>
PART  II

ITEM  5.       MARKET  FOR THE REGISTRANT'S COMMON STOCK AND RELATED SHAREHOLDER
MATTERS

MARKET  INFORMATION

The  following  table  sets  forth the high and low bid prices for shares of the
Company  Common  Stock  for the periods noted, as reported by the National Daily
Quotation  Service  and the Over-the-Counter Bulletin Board.  Quotations reflect
inter-dealer prices, without retail mark-up, mark-down or commission and may not
represent  actual  transactions.  On  March  5, 1998, the Company's Common Stock
began  listing  on  the Over-the-Counter Bulletin Board under the trading symbol
ASSM.  To  reflect  the  Company's  change  in  business plan and name change to
Yournet,  Inc.,  the Company changed its trading symbol to YOUR, on November 10,
1999.  On  August 16, 2001, the Company's trading symbol was changed to GBPAA in
order  to  reflects  its  name  change  to  Global  Path  Incorporated


          CALENDAR                                BID  PRICES
          YEAR                    PERIOD       HIGH          LOW
          ----           -----------------     ----          ---

               2000      First  Quarter        3.50          1.25
                         Second  Quarter       3.00          0.75
                         Third  Quarter        1.50          0.63
                         Fourth  Quarter       1.00          0.38

               2001      First  Quarter        0.38          0.25
                         Second  Quarter       0.78          0.25
                         Third  Quarter        0.65          0.40
                         Fourth  Quarter       0.70          0.30


NUMBER  OF  SHAREHOLDERS

The number of beneficial holders of record of the Common Stock of the Company as
of  the  close  of  business  on  March  28,  2002  was  approximately  2,521.

DIVIDEND  POLICY

To  date,  the  Company  has declared no cash dividends on its Common Stock, and
does  not expect to pay cash dividends in the next term.  The Company intends to
retain  future earnings, if any, to provide funds for operation of its business.

CHANGES  IN  SECURITIES

Effective  April  21,  1999,  as  approved  at  the  Company's Annual Meeting of
Shareholders  on  March  1,1999,  the  Company executed a one-for-five (1-for-5)
reverse  stock  split  of the Company's common stock. As a result, the number of
shares  issued  and  outstanding  of  the  Company's common stock was reduced to
8,824,763.

On  June  28,  1999,  a majority of shareholders approved a one-for-five hundred
(1-for-500) reverse stock split, effective July 12, 1999, thereby decreasing the
number  of  issued  and  outstanding  shares  of  common  stock  to  44,031.

On  September  7,  1999,  the  Company  filed  a Form S-8 Registration under the
Securities Act of 1933 with the United States Securities and Exchange Commission
to  register  389,500  shares  of  stock  issued  pursuant  to the Dominick Pope
Consulting Agreement and the Steven L. Siskind, Esq. Legal Consulting Agreement.
These shares were valued at an aggregate of $194,675 which approximates the fair
value  of  the  services  rendered  to  the  Company  and  of  the stock itself.

On  November  8,  1999,  the  Board  of  Directors  authorized  a
three-and-one-half-for-one  (3.5- for-1) forward stock split, thereby increasing
the number of issued and outstanding shares of common stock to 20,455,903. Prior



                                        6
<PAGE>

to  August  14,  2001,  the  authorized  capital  of  the  Company  consisted of
50,000,000  shares  of common stock, par value $0.001 per share. Pursuant to the
Company's  reincorporation from Yournet, Inc., a Nevada corporation, into Global
Path  Incorporated,  a  Delaware  corporation,  effective  August  14, 2001, the
Company's  authorized  capital  consists of 100,000,000 shares of Class A common
stock  par value $0.001 per share, 50,000,000 shares of Class B common stock par
value  $0.001  per  share,  and  10,000,000 shares of preferred stock, par value
$0.001 per share. Pursuant to the reincorporation, shareholders of Yournet, Inc.
received  the  right to receive one share of Class A common stock of Global Path
Incorporated  for  each  one  share  of  common  stock of the Company. After the
reincorporation,  20,455,903  shares  of  Yournet,  Inc.  common  stock  were
converted  to  20,455,903  shares  of  Class  A  common  stock  of  Global  Path
Incorporated  ("GPI"),  the  surviving  entity.

On  November  19,  2001,  the  Company  filed  a Form S-8 Registration under the
Securities Act of 1933 with the United States Securities and Exchange Commission
to  register  6,100,000  shares  of  common stock pursuant to the Company's 2001
Employees  Stock Incentive Plan (Employees Plan) and 2001 Directors and Officers
Stock  Option  and  Stock  Award  Plan.  On March 11, 2002, the Company filed an
Amendment to Form S-8, wherein the Company's Amended and Restated 2002 Directors
And  Officers  Stock  Option, Stock Warrant, and Stock Award Plan (Directors and
Officers Plan) was registered. The Company's 2001 Employees Stock Incentive Plan
authorizes  an  issuance  of  up  to  10,000,000  shares of common stock and the
Company's  Amended  and Restated 2002 Directors And Officers Stock Option, Stock
Warrant,  and  Stock Award Plan authorizes an issuance of up to 4,500,000 shares
of  common  stock.  Pursuant  to  the Company's Directors and Officers Plan, the
Company  issued  a  warrant to purchase 1,000,000 shares of the Company's common
stock  at  an  exercise  price  of  $0.75  per  share,  to  Thomas V. Ackerly as
compensation for consulting fees in January 2002. As of the date of this Report,
Mr.  Ackerly  has  exercised  his  warrant  to  purchase  100,000  shares of the
Company's  common  stock.

                                        7
<PAGE>

ITEM  6.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION

The  following  discussion  contains certain forward-looking statements that are
subject  to  business  and  economic  risks and uncertainties, and the Company's
actual  results  could  differ materially from those forward-looking statements.
The  following  discussion  regarding  the  financial  statements of the Company
should  be  read in conjunction with the financial statements and notes thereto.

GENERAL  OVERVIEW

The  Company  used  the  balance  of the 2001 fiscal year to solidify its future
strategy,  based  on  Management's  knowledge  of  its  target segment.  Through
analysis  and interpretation of market conditions, the Company identified the IT
security  segment  as  the  highest  and  best  opportunity  for  shareholder
appreciation.  Given  Management's background and expertise in this segment, the
Company  has  focused  its efforts on specific target acquisition opportunities.


PLAN  OF  OPERATIONS  FOR  THE  COMPANY

The Company endeavors to become a world-wide portfolio company with a charter to
acquire industry leading companies.  These target companies have superior growth
potential  for  a  number  of  reasons.  Fundamental  to  our  business  is  an
entrepreneurial philosophy based on ownership.  Our focus is clearly on building
value  for  our  shareholders.  We  work  together  as  partners,  creating  an
environment  that supports individual strengths and decisive independent action.
We provide our portfolio companies management with significant depth and breadth
of  expertise on acquisitions, integration, strategy, negotiations and financing
with  a  strong  track  record  of  completion.

LIQUIDITY  AND  CAPITAL  RESOURCES

Global  Path  Incorporated intends to fund each target company independently. By
utilizing  our  existing network of financial relationships, we intend to design
financial  instruments which are specifically tailored to suit the needs of each
specific,  unique  opportunity.

On  January  18,  2002,  the  Company  executed  a  letter of intent with Entact
Information  Security  Corporation,  a  privately  held  corporation ("Entact").
Entact  provides  security  software  solutions  serving  the  large  and medium
enterprise  markets globally.  Under the non-binding Agreement, the Company will
acquire  all  of  the  issued  and  outstanding shares of Entact common stock in
exchange  for  $5,000,000  of the Company's restricted common stock. On March 1,
2002, the company entered into a loan agreement to advance $300,000 to Entact in
advance  of  the  completion  of  the  acquisition.  In return for the loan, the
Company  has  received a security interest in all of the assets of Entact. As of
the  date  of this Report, $150,000 has been drawn down on this loan facility to
Entact.  The  acquisition  is  subject  to  the  execution of a definitive Sales
Agreement  and  Plan  of  Merger.  As  of  the date of this Report, a definitive
agreement  has  not  been  executed.

Although  the Company intends to acquire Entact with the Company's common stock,
a need exists for growth capital, therefore the Company is currently analyzing a
number  of  lending  and  investment  opportunities.

As  of  December  31,  2001, the Company has no revenue. However, as a result of
increased  business  activity  and  the  increased  pursuit  of  its  initial
acquisition,  the  Company  has incurred costs, and made deposits. These efforts
have  resulted  in  security  deposits and other assets of $22,955 and increased
operational  expenses. Failure of the Company to secure requisite financing when
needed  and  on favorable terms in the future may have a material adverse effect
on  the  Company's  results  of  operations. The Company has borrowed funds from
principal shareholders to satisfy certain obligations. The Company's independent
certified  public  accountants  have  stated  in  their  report  included in the
Company's December 31, 2001 Form 10-KSB, that the Company has incurred operating
losses  in  the  last  two  years,  and  that  the  Company  is  dependent  upon
management's  ability  to  develop  profitable  operations.  These factors among
others  may raise substantial doubt about the Company's ability to continue as a
going  concern.


                                        8
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RECENT  ACCOUNTING  PRONOUNCEMENTS

In  March  2000,  the Financial Accounting Standards Board issued interpretation
No.  44  (FIN  44),  "Accounting  for  Certain  Transactions  Involving  Stock
Compensation,  an  Interpretation  of APB Opinion No. 25".  FIN 44 clarifies the
application  of  APB  No.  25 for (a) the definition of employee for purposes of
applying  APB No. 25, (b)  the criteria for determining whether a plan qualifies
as  a  non  compensatory  plan,  (c)  the  accounting  consequences  of  various
modifications  to  previously  fixed  stock  options  or  awards,  and  (d)  the
accounting  for  an  exchange  of  stock  compensation  awards  in  a  business
combination.  FIN  44  is  effective  July 2, 2000 but certain conclusions cover
specific  events  that  occur  after December 15, 1998 or January 12, 2000.  The
adoption  of FIN 44 did not have an affect on the Company's financial statements
but  may  impact  the  accounting  for  grants  or  awards  in  future  periods.

In  July  2001,  the  Financial  Accounting  Standards Board issued Statement of
Financial Accounting Standards No. 141, Business Combinations (FAS 141), and FAS
142,  Goodwill  and  Other  Intangible  Assets (FAS 142).  FAS 141 addresses the
initial  recognition  and  measurement  of  goodwill and other intangible assets
acquired  in  a business combination.  FAS 142 addresses the initial recognition
and measurement of intangible assets acquired outside of a business combination,
whether  acquired  individually  or  with  a  group  of  other  assets,  and the
accounting  and reporting for goodwill and other intangibles subsequent to their
acquisition.  These  standards  require  all  future business combinations to be
accounted  for using the purchase method of accounting.  Goodwill will no longer
be  amortized but instead will be subject to impairment tests at least annually.
The  Company  is required to adopt FAS 141 and FAS 142 on a prospective basis as
of  January 1, 2002; however, certain provisions of these new standards may also
apply to any acquisitions concluded subsequent to June 30, 2001.  As a result of
implementing  these new standards, the Company will discontinue the amortization
of  goodwill  as  of  December  31, 2001.  The Company does not believe that the
adoption  of  FAS  141  or  142  will have a material impact on its consolidated
financial  statements.

In  October  2001,  the  Financial  Accounting  Standards  Board issued FAS 144,
"Accounting for the Impairment or Disposal of Long-Lived Assets" (FAS 144).  FAS
144  addresses financial accounting and reporting for the impairment or disposal
of  long-lived  assets.  This  statement supersedes FAS 121, "Accounting for the
Impairment  of  Long-Lived  Assets  and for Long-Lived Assets to be Disposed of"
(FAS  121)  and  related  literature  and establishes a single accounting model,
based  on  the  framework  established  in  FAS 121, for long-lived assets to be
disposed  of  by  sale.  The  Company is required to adopt FAS 144 no later than
January 1, 2002.  The Company does not believe that the adoption of FAS 144 will
have  a  material  impact  on  its  consolidated  financial  statements.


ITEM  7.       FINANCIAL  STATEMENTS

The  consolidated  financial  statements and supplementary financial information
which  are  required  to  be  filed under this item are presented under Item 13.
Exhibits,  Financial  Statement  Schedules  and  Reports  on Form 10-KSB in this
document,  and  are  incorporated  herein  by  reference.

ITEM  8.      CHANGES  IN  AND  DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL  DISCLOSURE

The  Company  had no changes in and disagreements with accountants on accounting
and  financial  disclosure  during  the  fiscal  year  ended  December 31, 2001.



                                        9
<PAGE>

PART  III

ITEM  9.  DIRECTORS,  EXECUTIVE  OFFICERS,  PROMOTERS  AND  CONTROL  PERSONS;
COMPLIANCE  WITH  SECTION  16(A)  OF  THE  EXCHANGE  ACT

The  following  table sets forth the names and ages of the current directors and
executive  officers  of the Company, the principal offices and positions held by
each  person  and the date each person became a director or executive officer of
the  Company.  The executive officers of the Company are elected annually by the
Board  of  Directors.  The directors serve one year terms until their successors
are  elected.  The  executive  officers  serve  terms of one year or until their
death,  resignation  or  removal  by the Board of Directors. There are no family
relationships  between any of the directors and executive officers. In addition,
there  was no arrangement or understanding between any executive officer and any
other  person pursuant to which any person was selected as an executive officer.

The  directors  and  executive  officers  of  the  Company  are  as  follows:

Name                      Age     Position(s)
----                      ---     -----------

Robert  Kubbernus         42      Chairman  of  the  Board of Directors, Chief
                                  Executive Officer, Chief Financial Officer
                                  and Director

Stephan  Rind             35      Director

Sherri  Donell            40      Secretary


ROBERT  KUBBERNUS,  CHAIRMAN OF THE BOARD OF DIRECTORS, CHIEF EXECUTIVE OFFICER,
CHIEF  FINANCIAL  OFFICER AND DIRECTOR
Mr.  Kubbernus  presently  serves  as  the  Company's  Chairman  of the Board of
Directors,  Chief  Executive  Officer,  Chief  Financial  Officer  and Director.
Serving  as  a  director,  Mr.  Kubbernus  started with the Company in 1999. Mr.
Kubbernus  contributes  to  the Company 16 years of financial experience working
with  high  tech  firms  in  North  America  and  Europe.

Mr.  Kubbernus  has  also  been  employed by JAWS Technologies where he held the
positions  of  CEO and Chairman since 1997. His primary responsibilities at Jaws
Technologies  are  to oversee the company's security product developers, provide
executive  direction  and  develop key contacts within government, corporations,
media,  clients,  insurance  underwriters  and  the  investment  community.

From  1992  to  1997, Mr. Kubbernus held the position of President and CEO, with
Bankton  Financial  Corporation.  He  headed  up  a  team of corporate financial
consultants  who  specialize  in  the  placement  of  debt  instruments  with
institutional  and private lenders. In addition Bankton also performed corporate
work-  out  strategies on behalf of both client and related institutions. Before
1992,  he  was  the  Chief  Financial  Officer  as well as the Chief Development
Officer,  Bankers  Capital Group, where he developed new products and markets as
well  as  overseeing  the  financial  controls  of  the  organization.

Additionally,  Mr.  Kubbernus was  a Principal of Oxford Capital Group, which is
known  for  its  private  capital  investment  practices in the High Tech Field.
Oxford  has  been  instrumental in funding strategic relationships and companies
involved  with  JAWS  Technologies  thus  assisting  the development of the JAWS
vision.  Oxford  also  represents  numerous  foreign  investors  looking  for
opportunities  in  the North American and Global high tech arena.  These foreign
institutions rely on Mr. Kubbernuss high tech and financial knowledge and skills
for  investment  direction  and  strategic  relationships.

STEPHAN  RIND,  DIRECTOR
Mr.  Rind presently serves as a Director of the and was appointed in March 2002.
In  1999,  Stephan Rind founded IQ Capital AG in Frankfurt, a leading late stage
venture  capital company focused on technology businesses. Mr. Rind served as IQ
Capital  AGs  Chief  Executive  Officer  from  1999  to  2000. Since 2000 to the
present,  Mr.  Rind  has served as a Member of IQ Capital AGs Supervisory Board.
From  1997  through 1999, Mr. Rind served as a Director of Hornblower Fisher AG,
an  international  investment bank, where he oversaw the firms Corporate Finance
and  Institutional  Sales  Departments.  In  1994,  Mr. Rind founded Berrin Lord
Securities  GmbH,  Germanys  first  discount  broker, and served as the Managing


                                       10
<PAGE>

Director.  He sold the company to a major competitor in 1997. From 1992 to 1994,
Mr.  Rind  was  a  financial  advisor and investment banker for Prudential-Bache
Securities  in  their  New  York  and  Dusseldorf  offices.

SHERRI  D.  DONELL,  SECRETARY
Ms.  Donell  was appointed as the Company's Secretary in March 2002. Immediately
prior  to joining the Company, Ms. Donell founded and operated Office Management
Consulting  Services  in  March 2001, a business providing paralegal, office and
general  management  consulting services. From June 2000 through March 2001, Ms.
Donell  served  as  Vice  President  and  General  Manager of Premiere Executive
Suites,  a private company providing furnished corporate housing in Nova Scotia.
From  August  1998  to  June  2000,  Ms.  Donell  served  as Manager of Business
Development  at  BridgeStreet  Accommodations,  a  U.S. public company providing
furnished  corporate  housing.  Prior to 1998, Ms. Donell worked for a number of
large  mining  companies  providing paralegal support. Ms. Donell contributes to
the Company 20 years of paralegal, general management, and senior administrative
experience.


COMPLIANCE  WITH  SECTION  16(A)  OF  THE  SECURITIES  EXCHANGE  ACT  OF  1934

Section  16(a)  of  the  Securities  Exchange Act of 1934 requires the Company's
directors  and executive officers and persons who own more than ten percent of a
registered class of the Company's equity securities to file with the SEC initial
reports  of  ownership  and  reports of changes in ownership of Common Stock and
other  equity  securities  of the Company.  Officers, directors and greater than
ten  percent shareholders are required by SEC regulations to furnish the Company
with  copies  of  all Section 16(a) forms they file. To the Company's knowledge,
based  solely  on  the review of copies of such reports furnished to the Company
and  written representations that no other reports were required and to the best
of  its  knowledge,  during  the year ended December 31, 2001, all Section 16(a)
filing  requirements applicable to the Company's officers, directors and greater
than  ten  percent  shareholders  were  complied  with.

ITEM  10.  EXECUTIVE  COMPENSATION

The Company's  management  is not currently compensated for services provided to
the  Company.

COMPENSATION  OF  DIRECTORS

For  the  fiscal year ended December 31, 2001, Directors of the Company received
no  compensation.  The  Company  has  agreed  to issue its independent director,
Stephan  Rind,  75,000  shares  of  common  stock  upon  the  anniversary of his
appointment  on each year. In addition, Mr. Rind will be compensated $312.50 for
each  Board  meeting  attended telephonically and $625.00 for each Board meeting
attended  personally.  The  Company  has  also agreed to reimburse directors for
travel  expenses  and  related  expenses  related  to their duties as directors.


                                       11
<PAGE>

ITEM  11.  SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND  MANAGEMENT

The  following  table sets forth, as of March 28, 2002, certain information with
respect  to  the  Company's equity securities owned of record or beneficially by
(i)  each  Officer  and  Director  of  the  Company;  (ii)  each person who owns
beneficially  more  than  5%  of  each class of the Company's outstanding equity
securities;  and  (iii)  all  Directors  and  Executive  Officers  as  a  group.

<TABLE>
<CAPTION>

                                                                                      Common Stock                  Percent of
                                Name and Address of Beneficial Owner                  Outstanding(1)                 Outstanding
--------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>                                                      <C>                           <C>

Common Stock                    Robert Kubbernus                                        2,000,000                       9.28%
                                5th Floor, 2 Toronto Street
                                Toronto, Ontario Canada M5C 2B6

Common Stock                    Stephan Rind (2)                                          0                             0.00%
                                5th Floor, 2 Toronto Street
                                Toronto, Ontario Canada M5C 2B6

Common Stock                    Sherri Donell                                             0                             0.00%
                                5th Floor, 2 Toronto Street
                                Toronto, Ontario Canada M5C 2B6

Common Stock                    Bankton Financial Corp. (3)                             1,000,000                       4.64%
                                P.O. Box 20028
                                Calgary Place Postal Station
                                Calgary, Alberta, Canada, T2P 4J2

Common Stock                    Madison Trust (4)                                       3,500,000                      16.24%
                                8 Sultan Street, Suite 702
                                Toronto, Ontario, Canada, M5S 2C1

Common Stock                    Knightsbridge Co. S.A.                                  7,394,000                      34.30%
                                3076 Sir Francis Drake's Highway
                                P.O. Box 3463
                                Road Town, Tortola, British Virgin Islands

Common Stock                    Rick Langley, Jr.                                       1,300,418                       6.03%
                                1875 Century Park East, Suite 150
                                Los Angeles, CA  90067

Common Stock                    All Directors and Officers as a Group (3
                                Persons in total)                                       2,000,000                       9.28%
</TABLE>
---------------
(1)     Shares are beneficially owned and sole voting and investment power is
        held by the stockholder member.
(2)     Does not include 75,000 shares the Company has agreed to issue Mr. Rind
        as compensation for his first year of service on March 20, 2003.
(3)     Shares held by Bankton Financial Corp., of which Mr. Kubbernus, the CEO
        and Chairman of the Company, serves as President.
(4)     Shares held by Madison Family Trust, which Mr. Kubbernus, the CEO and
        Chairman of the Company, is Trustee for his son, C. Kubbernus, and which
        Mr. Kubbernus disclaims beneficial ownership.

The  Company  believes  that  the  beneficial owners of securities listed above,
based  on  information furnished by such owners, have sole investment and voting
power  with  respect  to  such  shares, subject to community property laws where
applicable.  Beneficial  ownership is determined in accordance with the rules of
the Commission and generally includes voting or investment power with respect to
securities.  Shares  of  stock  subject  to  options  or  warrants  currently
exercisable,  or exercisable within 60 days, are deemed outstanding for purposes
of  computing the percentage of the person holding such options or warrants, but
are not deemed outstanding for purposes of computing the percentage of any other
person.


                                       12
<PAGE>

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Pursuant  to  an  agreement  dated  as  of July 1, 1999, and finally executed on
October  20,  1999, John F. Huguet ("Huguet") and Gold Crown Holdings Limited, a
British  Virgin  Islands corporation ("Gold Crown) acquired 4,968,000 restricted
shares  of  the  Company's  common  stock,  comprising  approximately 85% of the
Company's  issued and outstanding Shares, in exchange for 100% of the issued and
outstanding  common  stock  of  Euro  American  Business Group, Inc., a New York
corporation  owned  by  Huguet and Gold Crown. Contemporaneously thereto, Huguet
and  Gold Crown purchased 25,000 shares of the Company's common stock from Glenn
A.  Little,  a  director  of  the  Company, for $200,000. In anticipation of the
execution  of  the  above  agreement,  on  October 7, 1999, the directors of the
Company  tendered  their  resignations as directors of the Company and appointed
new  directors  and  officers.

On  September  7,  1999,  the  Company  filed  a Form S-8 Registration under the
Securities Act of 1933 with the United States Securities and Exchange Commission
to  register  389,500  shares  of  stock  issued  pursuant  to the Dominick Pope
Consulting Agreement and the Steven L. Siskind, Esq. Legal Consulting Agreement.
These shares were valued at an aggregate of $194,675 which approximates the fair
value  of  the  services  rendered  to  the  Company  and  of  the stock itself.

Pursuant  to  two  Agreements  for  Purchase  and Sale of Stock entered into and
effective  as  of  January  10,  2000,  with a closing held on January 14, 2000,
Oxford  Capital  Corp.,  a  Cayman  Islands  corporation ("Oxford"),on behalf of
investors,  acquired  from Goldcrown Holdings Ltd., a total of 11,302,200 shares
(the  "Shares") of the  Company's  common stock, comprising approximately 55% of
the  Company's  issued  and  outstanding  common stock. In consideration for the
shares,  Oxford paid a purchase price of $750,000, payable $250,000 on or before
January 10, 2000, $125,000 on or before February 15, 2000, $125,000 on or before
March  15,  2000, $125,000 on or before April 15, 2000 and $125,000 on or before
May  15,  2000.

Oxford  also  acquired  from Bodet Ltd., a British Virgin Islands Corporation, a
total  of  325,000  options to purchase shares of common stock of the Registrant
held  by  Bodet,  Ltd.  at $.25 per share, 160,000 options to purchase shares of
common  stock  of  the  Registrant  at  $.375  per  share and 160,000 options to
purchase  shares  of  common  stock  of  the  Registrant  at $.50 per share. The
purchase  price  for  these  options  was  $1.00.  No changes in the officers or
directors  of  the  Registrant  has  been made as a result of the acquisition of
shares  by  Oxford.  If Oxford were to exercise all of these options, they would
beneficially  own  approximately  61.0%  of the Company's issued and outstanding
common  stock.

On  July  1,  2001,  the  Company issued a note payable to Madison Family Trust,
which  the  Companys  CEO  and  Director,  Mr.  Kubbernus  serves as Trustee but
disclaims  any beneficial ownership, in the amount of $33,792. The interest rate
on  the  note  is  10%  and  a  maturity  date  of  June  30,  2002.

On  November 1, 2001, the Company issued a note payable to Madison Family Trust,
which  the  Companys  CEO  and  Director,  Mr. Kubbernus serves as a Trustee but
disclaims  any  beneficial  ownership, in the amount of $93,933. The Company has
paid  $2,576  on  the note, therefore leaving a balance of $91,354. The interest
rate  on  the  note  is  5%  and  a  maturity  date  of  October  31,  2002.

During  the  period  January  1,  2002,  through  March 31, 2002, loans totaling
$233,000  have  been advanced by the Companys shareholder, Madison Family Trust,
which  the  Companys  CEO  and  director,  Mr.  Kubbernus, serves as Trustee but
disclaims  beneficial  ownership. The funds accrue interest at a rate of 10% per
annum  and  are  payable  no  later  than  March  21,  2003.

On  January  18,  2002,  the  Company  executed  a  letter of intent with Entact
Information Security Corporation, a privately held corporation ("Entact"). Under
the  non-binding  Agreement,  the  Company  will  acquire  all of the issued and
outstanding  shares  of  Entact  common  stock in exchange for $5,000,000 of the
Company's  restricted common stock. On March 1, 2002, the Company entered into a
loan agreement to advance $300,000 to Entact in advance of the completion of the
acquisition.  In  return  for  the  loan,  the  Company  has received a security
interest in all of the assets of Entact. As of the date of this Report, $150,000
has  been  drawn down on this loan facility to Entact. The acquisition of Entact
is  subject to the execution of a definitive Sales Agreement and Plan of Merger.
As  of  the  date  of this Report, a definitive agreement has not been executed.


                                       13
<PAGE>

ITEM 13.     EXHIBITS AND REPORTS ON FORM 8-K

(A)  INDEX TO EXHIBITS

The Company undertakes to furnish to any shareholder so requesting a copy of any
of the following exhibits upon payment to the Company of the reasonable costs
incurred by the Company in furnishing any such exhibit.

EXHIBIT NO.          DESCRIPTION
-----------          -----------

*(2.1)               Agreement for Purchase and Sale of Stock between Goldcrown
                     Holdings Ltd. and Oxford Capital Group dated as of January
                     10, 2000.

*(2.2)               Agreement for Purchase and Sale of Stock between Bodet Ltd.
                     and Oxford Capital Group dated as of January 10, 2000.

*(2.3)               Acquisition Agreement between Associated Medical Devices,
                     Inc. and Euro American Business Group, Inc.

*(2.4)               Agreement and Plan of Merger of Yournet, Inc. with and into
                     Global Path Incorporated dated June 25, 2001.

*(3.1)               Certificate of Incorporation

*(3.2)               Bylaws of the Company

*(10.1)              2001 Employees Stock Incentive Plan

*(10.2)              Amended and Restated 2002 Directors and Officers Stock
                     Option, Stock Warrant and Stock Award Plan

*(16)                Letter re. Change in Certifying Accountant

*(21)                List of Subsidiaries of the Company


23.1                 Consent of Independent Auditors

------------------------------
* Previously filed


(B)  REPORTS ON FORM 8-K


None.


                                       14
<PAGE>
                                   SIGNATURES

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


Dated:  April  2,  2002

GLOBAL  PATH  INCORPORATED
--------------------------
(Registrant)


/s/ Robert Kubbernus
-----------------------
By:  ROBERT  KUBBERNUS
CEO  &  CFO


Pursuant to requirements of the Securities Exchange Act of 1934, this report has
been  signed  below  by the following persons on behalf of the registrant and in
the  capacities  and  on  the  dates  indicated:

     Signature       Capacity        Date
     ---------       --------        ----


                      Chairman &
/s/ Robert Kubbernus  Director       April  2,  2002
--------------------
Robert  Kubbernus



/s/Stephan Rind       Director       April  2,  2002
--------------------
Stephan  Rind


                                       15
<PAGE>

                            GLOBAL PATH INCORPORATED

                          INDEX TO FINANCIAL STATEMENTS





                                                                    PAGE

Report of Independent Certified Public Accountants                   F-2
Financial  Statements

Consolidated Balance Sheets at December 31, 2001 and 2000            F-3

Consolidated  Statements  of  Losses  for  the  two  years  ended
December  31,  2001  and  2000                                       F-4

Consolidated  Statements  of  Deficiency in Stockholder's Equity
for the two  years  ended  December 31, 2001 and 2000                F-5

Consolidated  Statements  of  Cash  Flows  for  the  two  years
ended December 31, 2001  and  2000                                   F-6

Notes to Consolidated Financial Statements                        F-7 - F-13

<PAGE>

                             STEFANOU & COMPANY, LLP
                          CERTIFIED PUBLIC ACCOUNTANTS
                                1360 Beverly Road
                                    Suite 305
                             McLean, VA  22101-3621
                                  703-448-9200
                               703-448-3515 (fax)
                                                                Philadelphia, PA

               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

Board  of  Directors
Global  Path  Incorporated
(formerly  Yournet,  Inc.)
Toronto,  Ontario, Canada

     We have audited the consolidated balance sheets of Global Path Incorporated
(formerly Yournet, Inc., the "Company") as of December 31, 2001 and 2000 and the
related  consolidated  statements of losses, deficiency in stockholders' equity,
and  cash flows for the two years then ended. These financial statements are the
responsibility of the Company's management.  Our responsibility is to express an
opinion  on  the  financial  statements  based  upon  our  audits.

     We  conducted  our  audits  in accordance with auditing standards generally
accepted  in the United States of America.  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 our audits
provide  a  reasonable  basis  for  our  opinion.

     In  our  opinion,  the  consolidated financial statements referred to above
present fairly, in all material respects, the  financial position of Global Path
Incorporated  (formerly  Yournet,  Inc.)  at  December 31, 2001 and 2000 and the
results  of  its  operations  and  its  cash  flows  for the two years ended, in
conformity with accounting principles generally accepted in the United States of
America.

     The  accompanying  consolidated  financial  statements  have  been prepared
assuming  that  the  Company  will continue as a going concern.  As discussed in
Note  I  to  the financial statements, the Company is inactive with no operating
activities.  Accordingly,  the  Company  is  dependent  upon  management  and
significant  Company  shareholders  to  provide  sufficient  working  capital to
preserve  the  integrity  of  the  corporate entity.  The Company's existence is
dependent  upon  management's  ability  to develop profitable operations.  Those
conditions  raise  substantial  doubt  about  its ability to continue as a going
concern.  The  accompanying statements do not include any adjustments that might
result  from  the  outcome  of  this  uncertainty.
                                                     /s/ STEFANOU & COMPANY, LLP
                                                       Stefanou  &  Company, LLP
                                                       Certified  Public
                                                       Accountants
McLean,  Virginia
April 2, 2002
                                       F-2

<PAGE>
                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                           CONSOLIDATED BALANCE SHEETS
                           DECEMBER 31, 2001  AND 2000

<TABLE>
<CAPTION>

                                                                    2001          2000
                                                                ------------  ------------

ASSETS
<S>                                                             <C>           <C>
Other assets:

    Security Deposits and Other Assets                          $    22,955   $         -
                                                                ------------  ------------
                                                                $    22,955   $         -
                                                                ============  ============

LIABILITIES AND DEFICIENCY IN STOCKHOLDER'S EQUITY

Current Liabilities:

  Cash disbursed  in excess of available balances               $     4,914   $         -
  Accounts payable and accrued expenses                             184,389        68,376
  Due to shareholder (Note B)                                       141,802        41,427
                                                                ------------  ------------
    Total current liabilities                                       331,105       109,803

Commitments and Contingencies (Notes C and H                              -             -

Deficiency in Stockholder's Equity (Note D):
Preferred stock, par value $.001 per share; 10,000,000 shares
authorized; none issued at December 31, 2001 and 2000                     -             -
Class A Common stock, par value $.001 per share; 100,000,000
 shares authorized; 20,455,903 shares issued at December
 31, 2001 and 2000                                                   20,456        20,456
Class B Common stock, par value $.001 per share; 50,000,000
 shares authorized; none issued at December 31, 2001 and 2000             -             -
Additional Paid in Capital                                        3,100,705     3,100,705
Accumulated deficit                                              (3,429,311)   (3,230,964)
                                                                ------------  ------------
    Deficiency in stockholder's equity                             (308,150)     (109,803)
                                                                ------------  ------------
                                                                $    22,955   $         -
                                                                ============  ============
</TABLE>

           See accompanying notes to consolidated financial statements

                                      F-3

<PAGE>

                            GLOBAL PATH INCORPORATED
                             (FORMERLY YOURNET, INC.)
                        CONSOLIDATED STATEMENTS OF LOSSES
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>

                                                         2001          2000
                                                     ------------  ------------

<S>                                                  <C>           <C>
Cost & Expenses

    General & administrative expenses                $   204,358   $    79,365
                                                     ------------  ------------
    Total Operating Expenses                             204,358        79,365

Loss from Operations                                    (204,358)      (79,365)

Other Income                                               6,011             -

Income (taxes) benefit                                         -             -
                                                     ------------  ------------

NET LOSS                                             $  (198,347)  $   (79,365)
                                                     ============  ============

Loss per common share (basic and assuming dilution)
 (Note  F)                                           $     (0.01)  $     (0.00)
                                                     ============  ============
Weighted average common shares outstanding            20,455,903    20,455,903
</TABLE>


           See accompanying notes to consolidated financial statements
                                      F-4

<PAGE>

                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                 STATEMENT OF DEFICIENCY IN STOCKHOLDERS' EQUITY
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>




                              Preferred Stock
<S>                           <C>              <C>                      <C>                     <C>
                              Shares           Preferred Stock Amount   Series A Common Shares  Series A Common Shares Amount
                              ---------------  -----------------------  ----------------------  ------------------------------
Balance at December 31 ,1999                -  $                     -              20,455,903  $                       20,456
Net Loss                                    -                        -                       -                               -
                              ---------------  -----------------------  ----------------------  ------------------------------
Balance at December 31, 2000                -                        -              20,455,903                          20,456
Net Loss                                    -                        -                       -                               -
                              ---------------  -----------------------  ----------------------  ------------------------------
Balance at December 31, 2001                -  $                     -              20,455,903  $                       20,456
                              ===============  =======================  ======================  ==============================



<S>                           <C>                     <C>               <C>                  <C>                  <C>
                              Series B Common Shares  Series B Common   Additional Paid      Accumulated
                                                       Shares Amount      In Capital           Deficit            Total
                              ----------------------  ----------------  ---------------   -----------------     ----------
Balance at December 31 ,1999                       -  $           -     $    3,100,705     $   (3,151,599)      $ (30,438)
Net Loss                                           -              -                  -            (79,365)        (79,365)
                              ----------------------  ----------------  ---------------   -----------------     ----------

Balance at December 31, 2000                       -              -          3,100,705         (3,230,964)       (109,803)
Net Loss                                           -              -                  -           (198,347)       (198,347)
                              ----------------------  ----------------  ---------------   -----------------     ----------
Balance at December 31, 2001                       -  $           -     $    3,100,705     $   (3,429,311)      $(308,150)
                              ======================  ================  ===============   =================     ==========
</TABLE>

           See accompanying notes to consolidated financial statements

                                      F-5

<PAGE>

                            GLOBAL PATH INCORPORATED
                             (FORMERLY YOURNET, INC.)
                      CONSOLIDATED STATEMENTS OF CASH FLOW
                 FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

<TABLE>
<CAPTION>



                                                           2001       2000
                                                        ----------  ---------
<S>                                                     <C>         <C>
Cash flows from operating activities:
Net Loss                                                $(198,347)  $(79,365)
Adjustments to reconcile net loss to net cash provided
 by operating activities:
(Increase) decrease in other assets                       (22,955)         -
Increase in cash disbursed in excess of available
 balances                                                   4,914          -
Increase (decrease) in accounts payable                   116,013     37,938
                                                        ----------  ---------
Net cash provided by operating activities                (100,375)   (41,427)

Cash flows provided by financing activities:                    -          -

Cash flows provided by investing activities:
Advances from related party                               100,375     41,427
                                                        ----------  ---------
Net cash provided by investing activities                 100,375     41,427

Net increase (decrease) in cash                                 -          -
Cash beginning of period                                        -          -
                                                        ----------  ---------
Cash  end of period                                     $       -   $      -
                                                        ==========  =========

Supplemental Disclosures:
Interest paid for during the year                       $       -   $      -
Taxes paid for during the year                                  -          -
</TABLE>


           See accompanying notes to consolidated financial statements

                                      F-6

<PAGE>

                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE  A-SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

A  summary  of the significant accounting policies applied in the preparation of
the  accompanying  financial  statement  follows.

Business  Operations

Global  Path Incorporated, formerly, Yournet, Inc ("Company") was reincorporated
under  the  laws of the State of Delaware in August 2001. The Company is seeking
business opportunities in the computer software development markets. The Company
currently  has  no  operations.

The  consolidated  financial statements include the accounts of the Company, and
its  wholly-owned  subsidiary,  Euro  American Business Group, Inc., an inactive
company  formed  under  the  laws  of  the  State  of  New  York.  Significant
intercompany  transactions  have  been  eliminated  in  consolidation.

Income  Taxes

Income  taxes are provided based on the liability method for financial reporting
purposes in accordance with the provisions of Statements of Financial  Standards
No.  109,  "Accounting  for  Income  Taxes".  Deferred and prepaid taxes will be
provided  for  on  items which are recognized in different periods for financial
and  tax  reporting  purposes.

Impairment  of  Long-Lived  Assets

The Company has adopted Statement of Financial Accounting Standards No. 121 (FAS
121).  The  Statement  requires  that long-lived assets and certain identifiable
intangibles  held  and  used  by the Company be reviewed for impairment whenever
events or changes in circumstances indicate that the carrying amount of an asset
may  not  be  recoverable.  FAS  121  also  requires assets to be disposed of be
reported  at  the  lower  of the carrying amount or the fair value less costs to
sell.

Cash  Equivalents

For  purposes of the accompanying financial statement, the Company considers all
highly liquid debt instruments purchased with a maturity date of three months or
less  to  be  cash  equivalents.



                                       F-7

<PAGE>
                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE  A-SUMMARY  OF  ACCOUNTING  POLICIES  (CONTINUED)


Earnings  Per  Share

The  Company  has  adopted  Statement  of Financial Accounting Standard No. 128,
"Earnings  per  Share,"  specifying the computation, presentation and disclosure
requirements  of  earnings per share information.  Basic earnings per share has
been  calculated  based  upon  the  weighted  average  number  of  common shares
outstanding.  Stock  options  and  warrants  have  been excluded as common stock
equivalents  in  the  diluted  earnings  per  share  because  they  are  either
antidilutive,  or  their  effect  is  not  material.


Concentration  of  Credit  Risk

Financial instruments and related items which potentially subject the Company to
concentrations  of  credit  risk consist primarily of cash, cash equivalents and
trade  receivables.  The  Company places its cash and temporary cash investments
with  high  credit  quality  institutions.  At times, such investments may be in
excess  of  the  FDIC  insurance  limit.


Use  of  Estimates

The  preparation  of  financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect  certain  reported  amounts and disclosures.  Accordingly, actual results
could  differ  from  those  estimates.

Foreign  Currency  Translation

The  Company  translates the foreign currency financial statements in accordance
with  the  requirements  of  Statement of Financial Accounting Standards No. 52,
"Foreign  Currency  Translation."  Assets  and  liabilities  are  translated  at
current  exchange  rates  in  effect  during  the period.  Resulting translation
adjustments  are  recorded  as  a  separate  component  in stockholder's equity.
Foreign  currency  translation gains and losses are included in the statement of
operations.

Liquidity

As  shown  in  the accompanying financial statements, the Company incurred a net
loss of $ 198,347 and $ 79,365 during the year ended December 31, 2001 and 2000,
respectively.  The  Company's current liabilities exceeded its current assets by
$  331,105  and the Company has a $ 3,429,311 deficiency in retained earnings as
of  December  31,  2001.

                                       F-8

<PAGE>
                            GLOBAL PATH INCORPORATED
                             (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED  FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE  A-SUMMARY  OF  ACCOUNTING  POLICIES  (CONTINUED)

Comprehensive  Income

The  Company  does  not  have  any  items  of comprehensive income in any of the
periods  presented.

New  Accounting  Pronouncements

In  March  2000,  the Financial Accounting Standards Board issued interpretation
No.  44  (FIN  44),  "Accounting  for  Certain  Transactions  Involving  Stock
Compensation,  an  Interpretation  of APB Opinion No. 25".  FIN 44 clarifies the
application  of  APB  No.  25 for (a) the definition of employee for purposes of
applying  APB No. 25, (b)  the criteria for determining whether a plan qualifies
as  a  non  compensatory  plan,  (c)  the  accounting  consequences  of  various
modifications  to  previously  fixed  stock  options  or  awards,  and  (d)  the
accounting  for  an  exchange  of  stock  compensation  awards  in  a  business
combination.  FIN  44  is  effective  July 2, 2000 but certain conclusions cover
specific  events  that  occur  after December 15, 1998 or January 12, 2000.  The
adoption  of FIN 44 did not have an affect on the Company's financial statements
but  may  impact  the  accounting  for  grants  or  awards  in  future  periods.

In  July  2001,  the  Financial  Accounting  Standards Board issued Statement of
Financial Accounting Standards No. 141, Business Combinations (FAS 141), and FAS
142,  Goodwill  and  Other  Intangible  Assets (FAS 142).  FAS 141 addresses the
initial  recognition  and  measurement  of  goodwill and other intangible assets
acquired  in  a business combination.  FAS 142 addresses the initial recognition
and measurement of intangible assets acquired outside of a business combination,
whether  acquired  individually  or  with  a  group  of  other  assets,  and the
accounting  and reporting for goodwill and other intangibles subsequent to their
acquisition.  These  standards  require  all  future business combinations to be
accounted  for using the purchase method of accounting.  Goodwill will no longer
be  amortized but instead will be subject to impairment tests at least annually.
The  Company  is required to adopt FAS 141 and FAS 142 on a prospective basis as
of  January 1, 2002; however, certain provisions of these new standards may also
apply to any acquisitions concluded subsequent to June 30, 2001.  As a result of
implementing  these new standards, the Company will discontinue the amortization
of  goodwill  as  of  December  31, 2001.  The Company does not believe that the
adoption  of  FAS  141  or  142  will have a material impact on its consolidated
financial  statements.

In  October  2001,  the  Financial  Accounting  Standards  Board issued FAS 144,
"Accounting for the Impairment or Disposal of Long-Lived Assets" (FAS 144).  FAS
144  addresses financial accounting and reporting for the impairment or disposal
of  long-lived  assets.  This  statement supersedes FAS 121, "Accounting for the
Impairment  of  Long-Lived  Assets  and for Long-Lived Assets to be Disposed of"
(FAS  121)  and  related  literature  and establishes a single accounting model,
based  on  the  framework  established  in  FAS 121, for long-lived assets to be
disposed  of  by  sale.  The  Company is required to adopt FAS 144 no later than
January 1, 2002.  The Company does not believe that the adoption of FAS 144 will
have  a  material  impact  on  its  consolidated  financial  statements.

                                      F-9

<PAGE>
                            GLOBAL PATH INCORPORATED
                             (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED  FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE  B  -  DUE  TO  SHAREHOLDERS

Amounts  due  the  Company's  principal  shareholder and  President  and  other
shareholders at December 31, 2001  and  2000  are  as  follows:

                                                               2001       2000

10% note payable to shareholder, principal and accrued
interest  payable on or before June 30, 2002;unsecured.   $  33,792     $     -

5%  note payable to shareholder, principal and accrued
interest  payable on or before October 31, 2002;unsecured    91,354           -

Note payable to shareholder, non interest bearing,
principal due December 31, 2002                              16,656           -
Advance from shareholder , no formal repayment terms exist        -      41,427
                                                           ---------    --------
                                                            141,802      41,427
Less Current Portion                                       (141,802)    (41,427)
                                                          ----------    --------
                                                          $       -     $     -
                                                          ==========    ========

During  the  period  January  1,  2002  through March 31, 2002, subsequent loans
totaling $233,000 have been advanced by the Company's shareholders.  These funds
accrue  interest  at a rate of 10% per annum and are payable no later than March
21,  2003.

NOTE  C  -  COMMITMENTS  AND  CONTINGENCIES

Lease  Commitments

The  Company  leases office space in Toronto, Ontario for its corporate offices.
Commitments  for  minimum rentals under non cancelable leases at the end of 2001
are  as  follows:

                           2002    $  90,152
                           2003       90,152
                           2004       90,152
                           2005       60,101
                                   ----------
                                   $ 330,557
                                   ==========

NOTE  D-  CAPITAL  STOCK

In  August  2001,  the  Company  approved  a  plan  of  merger  with Global Path
Incorporated,  a newly formed entity with no assets, liabilities or operations,
incorporated  under  the  laws of the State of Delaware.  Pursuant to the merger
the  Company changed its name to Global Path, Incorporated and reincorporated in
the  State  of  Delaware,  authorized  the  issuance  of  10,000,000  shares  of
preferred  stock,  100,000,000  shares  of  Class  A Common stock and 50,000,000
shares  of  Class  B  Common  stock.

Pursuant  to  the  reincorporation,  shareholders  of Yournet, Inc. received one
share  of  Class  A  Common  stock  of Global Path Incorporated for one share of
common  stock  of  the company.  The accompanying financial statements have been
restated  to  give  effect  for  the  exchange.


                                      F-10

<PAGE>
                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000


NOTE  E  -  INCOME  TAXES

Financial  Accounting  Standard No. 109 requires the recognition of deferred tax
liabilities  and  assets for the expected future tax consequences of events that
have  been  included  in  the  financial  statement  or tax returns.  Under this
method,  deferred  tax  liabilities  and  assets  are  determined  based  on the
difference  between financial statements and tax bases of assets and liabilities
using  enacted  tax  rates  in  effect for the year in which the differences are
expected  to  reverse.  Temporary  differences  between  income  reported  for
financial  reporting  purposes  and  income  tax  purposes  are  insignificant.

At  December 31, 2001, the Company has available for federal income tax purposes
a  net  operating  loss  carryforward of approximately $ 670,000 expiring in the
year  2015,  that  may be used to offset future taxable income.  The Company has
provided  a  valuation reserve against the full amount of the net operating loss
benefit,  since  in the opinion of management based upon the earnings history of
the  Company, it is more likely than not that the benefits will not be realized.
Due  to significant changes in the Company's ownership, the Company's future use
of  its  existing  net  operating  losses  may  be  limited.

Components  of  deferred  tax  assets  as  of  December 31, 2001 are as follows:

                Non  current:
                      Net operating loss carryforward     $     227,800
                      Valuation allowance                      (227,800)
                                                          --------------
                      Net deferred tax asset              $           -
                                                          ==============


NOTE  F  -  LOSSES  PER  COMMON  SHARE

The  following  table  presents  the  computation  of basic and diluted loss per
share:


                                                           2001           2000
                                                           ----           ----
 Net loss available for common shareholders           $ (198,347)  $    (79,365)
 Basic and fully diluted loss per share               $    (0.01)  $      (0.00)
 Weighted average common shares outstanding            20,455,903     20,455,903
                                                      ===========  =============


                                      F-11

<PAGE>
                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000


NOTE  G-  STOCK  OPTION  PLAN

On  November  19,  2001,  the  Board  of  Directors  of the Company registered a
non-qualified  2001  Directors  and  Officers  Stock Option and Award Plan and a
qualified  2001 Employees Stock Incentive Plan in the amount of 6,100,000 shares
of  common  stock.  In  March  2002,  the  Company amended and restated the 2002
Directors  and  Officers  Stock  Option,  Stock  Warrants,  and Stock Award Plan
authorizing  an issuance of up to 4,500,000 shares of common stock, and the 2001
Employee Stock Incentive Plan authorizing an issuance of up to 10,000,000 shares
of  common  stock.

There  were  no  options issued under these plans during the year ended December
31,  2001.

NOTE  H  -  SUBSEQUENT  EVENTS

On  January 23, 2002, the Company announced the execution of  a letter of intent
with  Entact  Information  Security  Corporation,  a  privately held corporation
("Entact").  Entact  provides  security software solutions serving the large and
medium  enterprise  markets  globally.  Under  the  non-binding  Agreement,  the
Company  will  acquire all of the issued and outstanding shares of Entact common
stock  in  exchange for $5,000,000 of the Company's restricted common stock. The
acquisition is subject to the execution of a definitive Sales Agreement and Plan
of  Merger.

Subsequently,  the Company has entered into a loan agreement to advance $300,000
to  Entact in advance of completion of the acquisition.  In return for the loan,
the Company has received a security interest in all of the assets of Entact.  As
of March 31, 2002, $150,000 has been drawn down on this loan facility to Entact.

During  the  period  January  1,  2002  through March 31, 2002, subsequent loans
totaling $233,000 have been advanced by the Company's shareholders.  These funds
accrue  interest  at a rate of 10% per annum and are payable no later than March
21,  2003.

In  January  2002,  a  warrant  to purchase 1,000,000 shares of common stock was
granted to a consultant under the 2001 Directors and Officers Stock Option Plan.
In March 2002, the Company issued an aggregate of 100,000 shares of common stock
pursuant  to  the  exercise  of  such  warrant.

NOTE  I  -  GOING  CONCERN

The  accompanying  financial  statements  have  been prepared on a going concern
basis,  which  contemplates  the  realization  of assets and the satisfaction of
liabilities  in  the  normal  course  of business.  As shown in the accompanying
financial  statements  during  the  years  ended December 31, 2001 and 2000, the
Company  incurred losses of  $ 198,347 and $79,365, respectively.  These factors
among others may indicate that the Company will be unable to continue as a going
concern  for  a  reasonable  period  of  time.

                                      F-12

<PAGE>
                            GLOBAL PATH INCORPORATED
                            (FORMERLY YOURNET, INC.)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           DECEMBER 31, 2001 AND 2000

NOTE  I  -  GOING  CONCERN  (CONTINUED)

The  Company  is  actively pursuing acquisitions and accordingly, the Company is
currently  dependent  upon  management  and  significant Company shareholders to
provide  sufficient  working  capital to preserve the integrity of the corporate
entity.  During  the  period  January 1, 2002 through March 31, 2002, additional
shareholder  advances  to  the  Company  totaled  $233,000.

The  Company's  existence  is  dependent  upon  management's  ability to develop
profitable  operations.  The  accompanying  statements  do  not  include  any
adjustments  that  might  result  should  the Company be unable to continue as a
going  concern.

                                      F-13