UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549



FORM 10-Q



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

| |  | For the Quarterly Period Ended September 30, 2012
| |  | -------------------------------------------------





| | [  ] | TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
| | ---- | ----------------------------------------------------------------------------------------





| |  | For the Transition Period From ________ to _________
| |  | ----------------------------------------------------



Commission File Number 000-33215



AGRICON GLOBAL CORPORATION

(Exact name of registrant as specified in its
charter)



|Delaware                                 |  | 84-1089377         
|---------------------------------------- |  | -------------------
|(State or other jurisdiction of          |  | (I.R.S. Employer   
|incorporation or organization)           |  | Identification No.)
|                                         |  |                    
|25 East 200 South                        |  |                    
|Lehi, Utah                               |  | 84043              
|(Address of principal executive offices) |  | (Zip Code)         



801-592-3000
(Registrant’s telephone number, including area code)



Indicate by check mark whether the registrant:
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days.

Yes þ Noo



Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Web site, if any, Interactive Data File required to be submitted and posted
pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period
that the registrant was required to submit and post such files.) 		Yes o No þ



Indicate by check mark whether the registrant is a large accelerated
filed, an accelerated filer, a non-accelerated filer or a smaller public company. See the definitions of “large accelerated
filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the
Exchange Act.





|Large accelerated filer o                                                 |  | Accelerated filer o        
|------------------------------------------------------------------------- |  | ---------------------------
|Non-accelerated filer o (Do not check if a smaller
    reporting company) |  | Smaller reporting company þ





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



As of November 8, 2012, the registrant had 17,374,841 shares of
common stock, par value $0.0001, issued and outstanding.








Table of Contents




AGRICON GLOBAL CORPORATION AND SUBSIDIARY

(A Development Stage Company)

FORM 10-Q



TABLE OF CONTENTS





PART I — FINANCIAL INFORMATION





|Item 1.                     | Financial Statements                                                                                                                                                                   | Page
|--------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----
|                            |                                                                                                                                                                                        |     
|                            | Condensed Consolidated Balance Sheets as of September 30, 2012 (Unaudited) and June 30, 2012                                                                                           | 3   
|                            |                                                                                                                                                                                        |     
|                            | Condensed Consolidated Statements of Operations (Unaudited) for the three months ended September 30, 2012 and for the periods from inception (July 5, 2011) through September 30, 2011 | 4   
|                            |                                                                                                                                                                                        |     
|                            | Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended September 30, 2012 and for the periods from inception (July 5, 2011) through September 30, 2011 | 5   
|                            |                                                                                                                                                                                        |     
|                            | Notes to Condensed Consolidated Financial Statements                                                                                                                                   | 6   
|                            |                                                                                                                                                                                        |     
|Item 2.                     | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                                  | 12  
|                            |                                                                                                                                                                                        |     
|Item 3.                     | Qualitative and Quantitative Disclosures About Market Risk                                                                                                                             | 15  
|                            |                                                                                                                                                                                        |     
|Item 4.                     | Controls and Procedures                                                                                                                                                                | 15  
|                            |                                                                                                                                                                                        |     
|PART II — OTHER INFORMATION |                                                                                                                                                                                       
|                            |                                                                                                                                                                                        |     
|Item 1.                     | Legal Proceedings                                                                                                                                                                      | 16  
|                            |                                                                                                                                                                                        |     
|Item 1A.                    | Risk Factors                                                                                                                                                                           | 16  
|                            |                                                                                                                                                                                        |     
|Item 6.                     | Exhibits                                                                                                                                                                               | 17  
|                            |                                                                                                                                                                                        |     
|Signatures                  | 18                                                                                                                                                                                    
|                            |                                                                                                                                                                                       





2


Table of Contents


PART I - FINANCIAL INFORMATION



Item 1. Financial Statements



AGRICON
GLOBAL CORPORATION AND SUBSIDIARY

(A
Development Stage Company)

CONDENSED
CONSOLIDATED BALANCE SHEETS





|                                                                                                       |  | September 30, 2012 |             | June  30, 2012
|------------------------------------------------------------------------------------------------------ |  | ------------------ | ----------- | --------------
|ASSETS                                                                                                 |  |                    | (Unaudited) |               
|Current Assets                                                                                         |  |                    |             |               
|Cash                                                                                                   |  | $                  | 6,073       |               
|Subscriptions receivable                                                                               |  |                    | —           |               
|Notes receivable, current portion                                                                      |  |                    | 94,156      |               
|Total current assets                                                                                   |  |                    | 100,229     |               
|Equipment                                                                                              |  |                    | 24,884      |               
|Notes receivable, net of current portion                                                               |  |                    | 203,298     |               
|Total Assets                                                                                           |  | $                  | 328,411     |               
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                                   |  |                    |             |               
|Current Liabilities                                                                                    |  |                    |             |               
|Accounts payable                                                                                       |  | $                  | 205,976     |               
|Accrued liabilities                                                                                    |  |                    | 190,965     |               
|Unsecured notes payable, related parties                                                               |  |                    | 61,900      |               
|Total current liabilities                                                                              |  |                    | 458,841     |               
|STOCKHOLDERS' EQUITY                                                                                   |  |                    |             |               
|Preferred stock, $.0001 par value, 400,000 shares authorized; no shares issued and outstanding         |  |                    | —           |               
|Common stock $.0001 par value, 100,000,000 shares authorized; 17,374,841 shares issued and outstanding |  |                    | 1,737       |               
|Additional paid-in capital                                                                             |  |                    | 725,209     |               
|Deficit accumulated during developmental stage                                                         |  |                    | (857,376    | )             
|Total stockholders' (deficit) equity                                                                   |  |                    | (130,430    | )             
|Total Liabilities and Stockholders' Equity                                                             |  | $                  | 328,411     |               





















See accompanying notes to the condensed consolidated
financial statements.

3


Table of Contents




AGRICON
GLOBAL CORPORATION AND SUBSIDIARY

(A
Development Stage Company)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)





|                                                                       |  | For the Three Months Ended September 30, 2012 |            | For the Period from Inception (July 5, 2011) through September 30, 2011 |  | For the Period from Inception (July 5, 2011) through September 30, 2012
|---------------------------------------------------------------------- |  | --------------------------------------------- | ---------- | ----------------------------------------------------------------------- |  | -----------------------------------------------------------------------
|Operating Expenses:                                                    |  |                                               |            |                                                                         |  |                                                                        
|Selling, general and administrative                                    |  | $                                             | (238,295   | )                                                                       |  | $                                                                      
|Lease acquisition costs                                                |  |                                               | —          |                                                                         |  |                                                                        
|Total Operating Expenses                                               |  |                                               | (238,295   | )                                                                       |  |                                                                        
|Loss from Operations                                                   |  |                                               | (238,295   | )                                                                       |  |                                                                        
|Other Income and Expense:                                              |  |                                               |            |                                                                         |  |                                                                        
|Interest income                                                        |  |                                               | 6,778      |                                                                         |  |                                                                        
|Interest expense                                                       |  |                                               | (2,321     | )                                                                       |  |                                                                        
|Total Other Income                                                     |  |                                               | 4,457      |                                                                         |  |                                                                        
|Net Loss                                                               |  | $                                             | (233,838   | )                                                                       |  | $                                                                      
|Basic and diluted loss per common share                                |  | $                                             | (0.01      | )                                                                       |  | $                                                                      
|Basic and diluted weighted average number of common shares outstanding |  |                                               | 17,154,841 |                                                                         |  |                                                                        









































See accompanying notes to the condensed consolidated
financial statements.

4


Table of Contents








|AGRICON GLOBAL CORPORATION AND SUBSIDIARY                                                                                                                                                
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(A Development Stage Company)                                                                                                                                                            
|CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                                                                    
|(Unaudited)                                                                                                                                                                              
|                                                                                                                                                                                         
|                                                                                                                                                                                         
|                                                                                                                                                                                         
|Cash Flows From Operating Activities                                                                                                                                                     
|Net loss                                                                                                                                                                                 
|Adjustments to reconcile net loss to net cash used in operating activities:                                                                                                              
|Share-based compensation                                                                                                                                                                 
|Common stock issued for services                                                                                                                                                         
|Changes in operating assets and liabilities:                                                                                                                                             
|Prepaid expenses                                                                                                                                                                         
|Accounts payable                                                                                                                                                                         
|Accrued liabilities                                                                                                                                                                      
|Net Cash Used in Operating Activities                                                                                                                                                    
|                                                                                                                                                                                         
|Cash Flows From Investing Activities                                                                                                                                                     
|Principal payments on notes receivable                                                                                                                                                   
|Purchase of equipment                                                                                                                                                                    
|Net Cash Provided by Investing Activities                                                                                                                                                
|                                                                                                                                                                                         
|Cash Flows From Financing Activities                                                                                                                                                     
|Proceeds from issuance of common stock for cash                                                                                                                                          
|Net Cash Provided by Financing Activities                                                                                                                                                
|                                                                                                                                                                                         
|Effect of Exchange Rate on Cash                                                                                                                                                          
|                                                                                                                                                                                         
|Net Increase in Cash and Cash Equivalents                                                                                                                                                
|Cash at Beginning of Period                                                                                                                                                              
|Cash at End of Period                                                                                                                                                                    
|                                                                                                                                                                                         
|Supplemental Disclosures of Cash Flow Information:                                                                                                                                       
|Noncash Investing and Financing activities:                                                                                                                                              
|The Company issued 12,000,000 shares of its Common Stock
    for all of the issued and outstanding stock of     CPGL which stock had been issued for services by its two
    shareholders
|Recapitalization                                                                                                                                                                         
|Subscription receivable                                                                                                                                                                  















See accompanying notes to the condensed consolidated
financial statements.

5


Table of Contents


AGRICON GLOBAL
CORPORATION AND SUBSIDIARY

(A Development
Stage Company)

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)



NOTE 1 –
THE COMPANY AND BASIS OF PRESENTATION



Principles
of Consolidation– The accompanying condensed consolidated
financial statements are presented in conformity with accounting principles generally accepted in the United States of America
and include operations and balances of Agricon Global Corporation (formerly Bayhill Capital Corporation) and its wholly-owned
subsidiary Canola Property Ghana Limited, a Ghanaian limited liability corporation (“CPGL”), collectively “Agricon”
or the “Company.” CPGL was incorporated under the laws of Ghana, West Africa on July 5, 2011. Intercompany balances
and transactions have been eliminated in consolidation.



Nature
of Operations– All of the Company’s business is conducted through CPGL. The Company is in the development
stage and its only business activities to date have been organizing the Company and locating appropriate land that might be leased
for cultivating and harvesting agricultural products. The Company plans to locate and then lease undeveloped land in Ghana, West
Africa, at attractive prices, that can be cleared and used for agricultural purposes and prepare the land for cultivation and
production of primarily rotation crops such as corn, maize, canola, sunflower, and soya.



CPGL
has located and negotiated preliminary non-binding terms of three leases for approximately 32,000 acres of land and we expect
CPGL to enter into 50 year leases for the land. We expect to stake, demarcate and survey the land and ready the lease for recording
with the Ghana government. CPGL has made no investments to date other than the costs and expenses relating to finding and surveying
the lands, but plans to begin clearing and cultivating land once its first lease has been consummated and recorded.

NOTE 2 –
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



Interim
Financial Information–The accompanying unaudited
condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in
the United States of America for interim financial information and pursuant to the rules and regulations of the United States
Securities and Exchange Commission (“SEC”). Accordingly, they are condensed and do not include all of the information
and notes required by accounting principles generally accepted in the United States of America for complete financial statements.
In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal
recurring nature. The results of operations for the three months ended September 30, 2012, may not be indicative of the results
that may be expected for the year ending June 30, 2013.



These financial
statements should be read in conjunction with the financial statements and notes thereto which are included in Agricon in Annual
Report on Form 10-K for the year ended June 30, 2012. The accounting policies set forth in those annual financial statements are
the same as the accounting policies utilized in the preparation of these financial statements, except as modified for appropriate
interim financial statement presentation.

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



Cash–
The balance in Cash consisted of cash reserves held in checking accounts.



Notes
Receivable– On August 31, 2010, BayHill Capital Corporation sold its wholly owned subsidiary, Commission River
Corporation. As part of the payment for the sale, BayHill Capital Corporation was issued a secured negotiable promissory note
receivable, in the amount of $490,000, with varying interest rates beginning at 6% and required monthly payments of $10,000 until
its maturity on September 12, 2014, when the remaining principal balance of the note is due. The note is secured by all of the
assets of Commission River Corporation. As of September 30, 2012, the note was current and had a remaining principal balance of
$297,454, of which $94,156 is classified as “Notes receivable, current portion” on the balance sheet.



Agricultural
Land and Lease Acquisition Costs– The Company expenses all costs relating to land and
lease acquisition activities until the actual acquisition or until the lease has been executed. The land purchase price is then
capitalized and valuated periodically for any valuation allowance required. Lease payments are capitalized and amortized over
the appropriate lease period. Costs of land clearing and preparation are expensed as incurred.



Equipment– Equipment is stated at cost less accumulated depreciation. At the time equipment is
disposed of or traded in, the assets and related accumulated depreciation are removed from the accounts, and any resulting gain
or loss is charged to operations. Major renewals and betterments that extend the life of the property and equipment are capitalized.
Maintenance and repairs are expensed as incurred. The Equipment shown on the Condensed Consolidated Balance Sheets, has not yet
been placed into use and therefore no depreciation has been recognized at September 30, 2012.



Development
Stage Company–The Company has not earned any revenue from operations. Accordingly,
the Company’s activities have been accounted for as those of a “Development Stage Enterprise” as set forth in
ASC Topic 914.  Among the disclosures required by ASC 914 are that the Company’s financial statements be identified
as those of a development stage company, and that the statements of operations, cash flows and stockholders’ equity disclose
activity since the date of the Company’s inception.



Foreign
Currency Translation –The financial statements are presented in United States dollars. In accordance with ASC Topic
830, “Foreign Currency Translation”, foreign denominated monetary assets and liabilities are translated to their United
States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date.  Non-monetary assets and
liabilities are translated at exchange rates prevailing at the transaction date. Revenue and expenses are translated at average
rates of exchange during the periods presented.  Related translation adjustments are reported as a separate component
of stockholders’ equity (deficit), whereas gains or losses resulting from foreign currency transactions are included in
results of operations. All financial activity during the quarter ended September 30, 2012 were

7


Table of Contents




denominated
in United States dollars, therefore no translation of currency was required and there were no gains or losses on foreign currency
transactions during the quarter ended September 30, 2012. All material accounts of cash were being held in US dollar accounts
at September 30, 2012.



Share-Based
Compensation– The Company recognizes compensation expense for share-based awards expected
to vest on a straight-line basis over the requisite service period of the award based on their grant date fair value. The Company
estimates the fair value of stock options using a lattice model that values the options based on probability weighted projections
of the various potential outcomes. The intrinsic value, stock performance, stock volatility, vesting or exercise factors, and
forfeiture variables, are all considerations under this model. During the three months ended September 30, 2012 and 2011, the
Company recorded $9,183 and $0, respectively.



There were no
new options granted or exercised during the three months ended September 30, 2012 and 2011.



Basic
and Diluted Loss Per Share – Basic loss per common share is computed by dividing the net loss attributable to common
stockholders for the period by the weighted-average number of common shares outstanding during the period. Diluted net income
per common share, where applicable, is computed giving effect to all dilutive common stock equivalents, primarily common stock
options and warrants. All potential common shares, totaling 670,000 outstanding options, which could have an anti-dilutive effect
on diluted per share loss amounts, are excluded in determining the diluted loss per common share.



Income
Taxes -The
Company accounts for income taxes under the asset and liability method of accounting for deferred taxes as prescribed under FASB
ASC 740, Accounting for Income Taxes.es.ffect to all dilutive common stock equivalents, primarily common stx consequences attributable
to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change
in tax rates is recognized in income in the period that includes the enactment date. When applicable, a valuation allowance is
established to reduce any deferred tax asset when it is determined that it is more likely than not that some portion of the deferred
tax asset will not be realized. ASC 740 also requires reporting of taxes based on tax positions that meet a more-likely-than-not
standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax
reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. ASC 740 also provides guidance
on the presentation of tax matters and the recognition of potential IRS interest and penalties. The Company classifies penalty
and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties
recognized in the statement of operations or accrued on the balance sheet. See further discussion and disclosures in Note 6.



Recent
Accounting Pronouncements –



Comprehensive
Income – In June 2011, the FASB issued authoritative guidance regarding the presentation of comprehensive income. This
guidance provides companies with the option to present the total of comprehensive income, components of net income, and the components
of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive
statements. The objective of the standard is to increase the prominence of items reported in other comprehensive income and to
facilitate convergence of U.S. GAAP and International Financial

8


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Reporting Standards
(IFRS). The standard eliminates the option to present components of other comprehensive income as part of the statement of changes
in stockholders’ equity. The guidance is effective for fiscal years and interim periods beginning after December 15, 2011
and should be applied retrospectively. Early adoption is permitted. The adoption of this guidance is not expected to have a material
impact on the Company’s consolidated financial statements.



Fair Value
Measurements– In May 2011, the FASB issued authoritative guidance regarding fair value measurements. This guidance
establishes common requirements for measuring fair value and for disclosing information about fair value measurements in accordance
with U.S. GAAP and IFRS. It also clarifies the FASB’s intent on the application of existing fair value measurement requirements.
The guidance is effective for fiscal years and interim periods beginning after December 15, 2011 and should be applied prospectively.
The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.



NOTE 3 –
GOING CONCERN



The accompanying
condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern.  As
shown in the accompanying condensed consolidated financial statements, the Company incurred a loss from operations of $233,838
for the three month period ended September 30, 2012 and has an accumulated deficit of $857,376 since its inception (July 5, 2011).  The
Company also used cash in operating activities of $72,383 during the three month period ended September 30, 2012, and $625,553
since its inception.  At September 30, 2012, the Company had negative working capital of $358,612.  The Company
is in default on Notes Payable. These factors raise substantial doubt about the Company’s ability to continue as a going
concern.



On November
8, 2012, the Company announced the receipt of $500,000 in proceeds from the sale of 1,000,000 shares of its common stock (see
Note 8).



In
order for us to continue as a going concern, we expect to obtain additional debt or equity financing. There can be no assurance
that we will be able to secure additional debt or equity financing, that we will be able to acquire cash flow positive operations,
or that, if we are successful in any of those actions, those actions will produce adequate cash flow to enable us to meet all
our future obligations. All of our existing financing arrangements are short-term. If we are unable to obtain additional debt
or equity financing, we may be required to significantly reduce or cease operations.



NOTE 4 –
RECAPITALIZATION



On
March 31, 2012, Agricon, formerly BayHill Capital Corporation, and CPGL, and CPGL’s shareholders, Global Green Capacity
Limited and Invest in Ghana Co Limited, entered into a share exchange agreement pursuant to which Agricon agreed to issue an aggregate
of 12,000,000 shares of common stock to CPGL stockholders and designees, in return for 100% of the 75,000 issued and outstanding
shares of CPGL stock (the “Share Exchange”). As a result, CPGL became a wholly-owned subsidiary of Agricon, and for
accounting purposes, Agricon began operations on July 5, 2011 (date of inception of CPGL), as reflected in the Consolidated Financial
Statements. The Share Exchange resulted in a change in control of the Company. The former CPGL stockholders, and designees, now
own in the aggregate 69% of the outstanding shares of the Company’s common stock. In conjunction with the share exchange
the Company changed its name from BayHill Capital Corporation to Agricon Global Corporation.



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As one of the
requirements of the Share Exchange, Agricon was required to raise a minimum of $600,000 through the sale of its common stock.
As of September 30, 2012, the Company had raised $610,000 under a $610,000 private placement of 1,220,000 shares of common stock.
This initial working capital is used to acquire land and begin the operations of clearing and cultivating.



In accordance
with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) section 805,
“Business Combinations”, CPGL is considered the accounting acquiror in the Share Exchange. Under current accounting
guidance Agricon is not a business for purposes of determining whether a business combination would occur upon the acquisition
of the outstanding stock of CPGL. The acquisition was accounted for as the recapitalization of CPGL since, at the closing of the
Share Exchange, Agricon was a non-operating public shell corporation with no significant assets and liabilities. Accordingly,
the assets and liabilities and the historical operations that are reflected in the Company’s consolidated financial statements
are those of CPGL, restated for the effects of the capital restructure.



The accounting
transactions required to accomplish the Share Exchange are recognized as follows: (1) the recapitalization of CPGL by recognizing
the Agricon common shares issued in exchange for the CPGL shares in a manner equivalent to a 160 for 1 stock split, and (2) the
Agricon common shares that remain outstanding are recognized as the issuance of common shares by CPGL—as the acquirer for
accounting purposes-for the assets less liabilities of BayHill Capital Corporation, the predecessor to Agricon, are recorded at
fair value which approximates the book value.



NOTE 5 –
UNSECURED NOTES PAYABLE TO RELATED PARTIES



The unsecured
notes payable to present and past affiliates of the Company are related to legal fees, director fees, and unpaid salaries that
were converted into 12% notes payable with a maturity date of June 30, 2012. The notes were not paid at maturity, therefore the
interest rate increased to 18% per annum. These notes consist of the following:



|Note Holder                                  |  | Amount
|-------------------------------------------- |  | ------
|ClearWater Law and Governance
    Group, LLC |  | $     
|James U Jensen                               |  |       
|John M Knab                                  |  |       
|John D Thomas                                |  |       
|Robert K Bench                               |  |       
|Robyn Farnsworth                             |  |       
|Total                                        |  | $     



The Company
is in default on the Notes and is now accruing interest at 18% per annum. No affiliate has demanded payment.



NOTE 6 –
STOCKHOLDERS’ EQUITY



The Company's
capitalization is 100,000,000 common shares with a par value of $0.0001 per share. As of September 30, 2012 and June 30, 2012,
the Company had 17,374,841 common shares outstanding.



Preferred shares
of 400,000 with a par value of $0.0001 have been authorized and no shares are issued or outstanding as of September 30, 2012 and
June 30, 2012.

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During June
2012, the Company conducted a private placement offering to a limited number of foreign investors under which the Company issued
a total of 1,120,000 shares, of its common stock, at a price of fifty cents ($0.50) per share. During June 2012, the Company also
received new subscriptions, under the private placement offering, for 100,000 shares. The company received $50,000 cash in July
2012 on these subscriptions.



The Company
issued 75,000 shares of its common stock, to two shareholders, for services relating to administrative and organizational costs
totaling $50,463. The 75,000 shares were exchanged for 12,000,000 shares in the Share Exchange Agreement. See Note 5 – Recapitalization.



NOTE 7 –
INCOME TAXES



In evaluating
the realizability of the net deferred tax assets, we take into account a number of factors, primarily relating to the ability
to generate taxable income. Where it is determined that it is likely that we will be unable to realize deferred tax assets, a
valuation allowance is established against the portion of the deferred tax asset. Because it cannot be accurately determined when
or if we will become profitable, a valuation allowance was provided against the entire deferred income tax asset balance.



The 2009 through
2012 tax years remain open to examination by the Internal Revenue Service. These taxing authorities have the authority to examine
those tax years until the applicable statute of limitations expire.



The Company
did not recognize any interest or penalties related to income taxes for the three months ended September 30, 2012 and 2011.



NOTE 8 –
SUBSEQUENT EVENTS



On November
8, 2012, the Company announced its acceptance of an additional, over-subscribed $500,000 for its private placement offering of
common stock.   Previously the Company had raised a total of $610,000, issuing 1,220,000 shares at the same price of
fifty cents per share.  The Company had a requirement to raise a minimum of $600,000 as part of its acquisition of Canola
Property Ghana Limited, a transaction that was completed on March 31, 2012, and met that requirement when it closed on the initial
$610,000.  This transaction brings the total to $1,110,000 for the issuance of 2,220,000 shares in the private placement
offering.



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Item
2. Management's Discussion and Analysis of Financial Condition and

Results of
Operations



The following
discussion is intended to assist you in understanding our results of operations and our present financial condition. Our condensed
consolidated financial statements and the accompanying notes included in this quarterly report on Form 10-Q contain additional
information that should be referred to when reviewing this material.



Forward-Looking Information and
Cautionary Statements



This
quarterly report contains forward-looking statements as that term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or our future financial
performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”,
“expects”, “plans”, “anticipates”, “believes”, “estimates”,
“predicts”, “potential” or “continue” or the negative of these terms
or other comparable terminology.Such statements are based on currently available financial and competitive information
and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience
and our present expectations. Undue reliance should not be placed on such forward-looking statements as such statements speak
only as of the date on which they are made. These statements are only predictions and involve known
and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity,
performance or achievements to be materially different from any future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements.



Forward-looking
statements are predictions and not guarantees of future performance or events. Forward-looking statements are based on current
industry, financial and economic information, which we have assessed but which by its nature, is dynamic and subject to rapid
and possibly abrupt changes. Our actual results could differ materially from those stated or implied by such forward-looking statements
due to risks and uncertainties associated with our business. We hereby qualify all our forward-looking statements by these cautionary
statements. We undertake no obligation to amend this report or revise publicly these forward-looking statements (other than pursuant
to reporting obligations imposed on registrants pursuant to the Securities Exchange Act of 1934) to reflect subsequent events
or circumstances.



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Business Review



The Company
is in the development stage and its only activities to date have been organizing the Company and locating appropriate land that
might be leased for cultivating and harvesting agricultural products. Assuming the Company can raise adequate capital, we plan
to locate and then lease undeveloped land in Ghana, at attractive prices, that can be cleared and used for agricultural purposes
and prepare the land for cultivation and production of primarily rotation crops such as corn, maize, canola, sunflower, and soya.



CPGL has located
and negotiated preliminary terms of a lease for approximately 32,000 acres of land and we expect CPGL to enter into a 50 year
lease for the land. We expect to stake, demarcate and survey the land and ready the lease for recording with the Ghana government.
CPGL has made no investments to date, but plans to begin clearing and cultivating land once its first lease has been consummated
and recorded.



In order to
execute on this strategy, the Company will need significant capital. There is no assurance that the Company will be successful
in raising capital and completing its planned acquisition of leases and farming operations.



Summary of
Operations



Three
months ended September 30, 2012



The Company
generated no revenues from operations during the three months ended September 30, 2012.



During
the quarter ended September 30, 2012, our activities related to our continued negotiations of three leases in Ghana totaling 32,000
acres, on which we plan to begin farming operations.



General and Administrative
Expenses



General and
administrative expenses were $238,295 for the quarter ended September 30, 2012, all of which related to our search for land leases
and negotiation activities.



Period
from Inception (July 5, 2011) through September 30, 2012



The Company
generated no revenues from operations during the period from inception (July 5, 2011) through September 30, 2012. The general
and administrative expenses of $50,463 related to its activities in the formation of the Company and its search and negotiation
efforts to secure a lease to begin farming and agricultural operations in Ghana.



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Liquidity and Capital Resources



As of September
30, 2012 and June 30, 2012, we had cash on hand of $6,073 and $5,221, respectively, and total current liabilities exceeded total
current assets by $358,612 and $158,121, respectively.



For the three
months ended September 30, 2012 and 2011, we used cash in operating activities of $72,383 and $0, respectively.



On November
8, 2012, the Company announced the receipt of $500,000 in proceeds from the sale of 1,000,000 shares of its common stock (see
Note 8 to the condensed consolidated financial statements). Even with the infusion of this capital, the company will need further
funding to execute its plans to acquire leases and begin farming operations. It presently plans additional rounds of funding in
the near future. If we are not able to raise the anticipated funds, the Company may not be able to continue its operations and
continue with its business strategy.



Off-Balance Sheet Financing Arrangements



The Company
had no off-balance sheet financing arrangements at September 30, 2012 and June 30, 2012.



Recent Accounting
Pronouncements



For details
of applicable new accounting standards, please, refer to Note1 – The Company and Basis of Presentationto our
condensed consolidated financial statements.



Critical Accounting Policies
and Estimates



The preparation
of financial statements in accordance with accounting standards generally accepted in the United States requires management to
make estimates and assumptions that affect both the recorded values of assets and liabilities at the date of the financial statements
and the revenues recognized and expenses incurred during the reporting period. Our estimates and assumptions affect our recognition
of deferred expenses, bad debts, income taxes, the carrying value of our long-lived assets and our provision for certain contingencies.
We evaluate the reasonableness of these estimates and assumptions continually based on a combination of historical information
and other information that comes to our attention that may vary our outlook for the future. Actual results may differ from these
estimates under different assumptions.



We suggest that
our Summary of Significant Accounting Policies, as described in Note 1- The Company and Basis of Presentation to our condensed
consolidated financial statements in our most recent Annual Report on Form 10-K be read in conjunction with this Management’s
Discussion and Analysis of Financial Condition and Results of Operations. We believe the critical accounting policies that
most impact our consolidated financial statements are described below.

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Fair Value of Financial Instruments



The carrying
amounts reported in the accompanying condensed consolidated financial statements for the notes receivable, accounts payable and
accrued expenses approximate fair values because of the immediate nature of short-term maturities of these financial instruments.
The carrying amount of long-term debt approximates fair value due to the stated interest rates approximating prevailing market
rates.



Item
3. Qualitative and Quantitative Disclosures About Market Risk



As a Smaller
Reporting Company as defined by Rule 12b-2 of the Exchange Act and in Item 10(f)(1) of Regulation S-K, we are electing
scaled disclosure reporting obligations and therefore are not required to provide the information requested by this Item.



Item
4. Controls and Procedures



Evaluation of Disclosure
Controls and Procedures



Our
management, under the supervision and with the participation of our President and Chief Financial Officer, evaluated the effectiveness
of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), as of the end of the period covered by this
report. Based on this evaluation, our President and Chief Financial Officer concluded that as of the end of the period covered
by this report, our disclosure controls and procedures were effective in (1) recording, processing, summarizing and reporting,
on a timely basis, information required to be disclosed by us in the reports that we file or submit under the Exchange Act and
(2) ensuring that information disclosed by us in such reports is accumulated and communicated to our management, including our
President and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.



Changes in
Internal Control over Financial Reporting



There were no
changes in our internal control over financial reporting during the quarter ended September 30, 2012 that materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.



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PART
II - OTHER INFORMATION





Item
1. Legal Proceedings



The company
had no legal proceedings at September 30, 2012.



Item
1A. Risk Factors



During the quarter
ended September 30, 2012 there were no material changes in the risk factors previously described in Form 10K filed with the SEC
on September 21, 2012.





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Item
6. Exhibits



Exhibits.
The following exhibits are included as part of this report:



| | Exhibit
    No. |  | Description
    of Exhibit                                                                                
| | --------------- |  | ----------------------------------------------------------------------------------------------------------
| |                 |  |                                                                                                           
| | Exhibit 31.1    |  | Certification
    of Principal Executive Officer Pursuant to Section 302 of the Sarbanes Oxley Act of 2002
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           
| | Exhibit 32.1    |  | Certification
    Pursuant to Section 906 of the Sarbanes Oxley Act of 2002                               
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           
| |                 |  |                                                                                                           



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SIGNATURES



Pursuant to the requirements 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.



| |  | AGRICON
                                                      GLOBAL CORPORATION
| |  | --------------------------------------------------------------------------------





|Date: | November 8, 2012 |  | By: | /s/
    Robert K Bench                 | 
|----- | ---------------- |  | --- | -------------------------------------- | 
|      |                  |  |     | Robert K
    Bench                     | 
|      |                  |  |     | President,
    Chief Financial Officer | 
|      |                  |  |     |                                        | 





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